<SEC-DOCUMENT>0001171843-21-006202.txt : 20210827
<SEC-HEADER>0001171843-21-006202.hdr.sgml : 20210827
<ACCEPTANCE-DATETIME>20210827161050
ACCESSION NUMBER:		0001171843-21-006202
CONFORMED SUBMISSION TYPE:	S-3
PUBLIC DOCUMENT COUNT:		7
FILED AS OF DATE:		20210827
DATE AS OF CHANGE:		20210827

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FreightCar America, Inc.
		CENTRAL INDEX KEY:			0001320854
		STANDARD INDUSTRIAL CLASSIFICATION:	RAILROAD EQUIPMENT [3743]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-259124
		FILM NUMBER:		211219017

	BUSINESS ADDRESS:	
		STREET 1:		125 SOUTH WACKER DRIVE
		STREET 2:		SUITE 1500
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		(800) 458-2235

	MAIL ADDRESS:	
		STREET 1:		125 SOUTH WACKER DRIVE
		STREET 2:		SUITE 1500
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FCA Acquisition Corp.
		DATE OF NAME CHANGE:	20050316
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3
<SEQUENCE>1
<FILENAME>s3_082721.htm
<DESCRIPTION>FORM S-3
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; border-bottom: Black 3pt solid"><B>Registration No.
333 -_________</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 1pt 0 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

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

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Form S-3</B></P>

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

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

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

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

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

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FreightCar America, Inc.</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding: 0.25pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Delaware</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(State or other jurisdiction of</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Incorporation or organization)</P></TD>
    <TD STYLE="width: 50%; padding: 0.25pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>25-1837219</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(I.R.S. Employer</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Identification Number)</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 94.5pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>125 South Wacker Drive, Suite 1500</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(800) 458-2235</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address, including zip code, and telephone number,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">including area code, of Registrant&#8217;s principal
executive offices)</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>125 South Wacker Drive, Suite 1500</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(800) 458-2235</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">including area code, of agent for service)</P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding: 0.25pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>David A. Sakowitz, Esq.</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Winston &amp; Strawn LLP</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>200 Park Avenue</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>New York, NY 10166</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Tel. No.: (212) 294 6700</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Fax No.: (212) 294 4700</B></P></TD></TR>
  </TABLE>





<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Approximate date of commencement of proposed
sale to the public: </B>From time to time after the effective date of this Registration Statement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">If the only securities being registered on this Form
are being offered pursuant to dividend or interest reinvestment plans, check the following box. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">If any of the securities being registered on this Form
are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than securities offered
only in connection with dividend or interest reinvestment plans, check the following box. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">If this Form is filed to register additional securities
for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration
statement number of the earlier effective registration statement for the same offering. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">If this Form is a post-effective amendment filed pursuant
to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier
effective registration statement for the same offering. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">If this Form is a registration statement pursuant to
General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to
Rule 462(e) under the Securities Act, check the following box. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">If this Form is a post-effective amendment to a registration
statement filed pursuant General Instruction I.D. filed to register additional securities or additional classes of securities pursuant
to Rule 413(b) under the Securities Act. check the following box. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">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 definitions
of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company,&#8221; and &#8220;emerging
growth company&#8221; in Rule 12b-2 of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 22%">Large accelerated filer </TD>
    <TD STYLE="width: 5%">&#9744;</TD>
  <TD STYLE="width: 46%">&nbsp;</TD>
  <TD STYLE="width: 22%">Accelerated
filer <FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%">&#9744;</TD>
   </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>Non-accelerated filer</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;</FONT></TD>
  <TD>&nbsp;</TD>
  <TD>Smaller
reporting company <FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></TD>
    <TD>&#9746;</TD>
    </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Emerging growth company </TD>
    <TD>&#9744;</TD>
    </TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">If an emerging growth company, indicate by check mark
if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 7(a)(2)(B) of the Securities Act. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 36pt">________________<BR STYLE="clear: both">
</P>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="text-transform: uppercase"><B>CALCULATION
OF REGISTRATION FEE</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.2pt 0 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 9pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 2.75pt 0 0; text-align: center"><B>Title of Each Class of</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 2.75pt 0 0; text-align: center"><B>Securities to be Registered</B></P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 4.7pt 0 1.4pt; text-align: center"><B>Amount to be Registered</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 4.7pt 0 1.4pt; text-align: center"><B>(1)(3)</B></P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Proposed Maximum Offering Price Per Unit</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Proposed Maximum Aggregate Offering Price (1)(4)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 4.7pt 0 1.4pt; text-align: center"><B>Amount of</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 4.7pt 0 1.4pt; text-align: center"><B>Registration Fee (2)</B></P></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; width: 31%; padding-bottom: 1pt; padding-left: 9pt"><FONT STYLE="font-size: 10pt">Common Stock, par value $0.01 per share</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 10%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 16%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 19%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 12%; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9pt"><FONT STYLE="font-size: 10pt">Preferred Stock, par value $0.01 per share</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9pt"><FONT STYLE="font-size: 10pt">Debt Securities</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9pt"><FONT STYLE="font-size: 10pt">Warrants</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9pt"><FONT STYLE="font-size: 10pt">Rights</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9pt"><FONT STYLE="font-size: 10pt">Units</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt"><B>Total</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt"><B>100,000,000</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt"><B>10,910</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: center"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 95%; padding-right: 6.8pt; padding-left: 4.35pt; text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">The proposed maximum aggregate offering price for each class of securities offered by the registrant 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 securities.</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="padding-right: 6.8pt; padding-left: 4.35pt; text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">The proposed maximum aggregate offering price has been estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(o) under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;).</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="padding-right: 6.8pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.35pt; text-align: justify">Pursuant to Rule 416 under the Securities
    Act, this Registration Statement also covers such additional shares as may hereafter be offered or issued to prevent dilution resulting
    from stock splits, stock dividends, recapitalizations or certain other capital adjustments</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.35pt; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="padding-right: 6.8pt; padding-left: 4.35pt; text-align: justify"><FONT STYLE="font-size: 10pt">Pursuant to General Instruction I.B.6 of Form S-3, as long as the aggregate market value of our common stock held by non-affiliates remains below $75 million, we will not, during any 12-month period, sell common stock under this prospectus in a public primary offering with a value exceeding one-third of the aggregate market value of our common stock held by non-affiliates. The aggregate market value of our outstanding common equity held by non-affiliates on August 25, 2021 was approximately $66.1 million based on 15,724,922 shares of common stock outstanding, of which 12,287,513 shares were held by non-affiliates, and a closing sale price on such date of $5.38 per share. As of the date hereof, we have not offered any securities pursuant to General Instruction I.B.6 of Form S-3 during the period of 12 calendar months that ends on and includes the date hereof.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-indent: 24pt"><B>The registrant hereby amends this Registration
Statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which
specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities
Act&nbsp;of 1933, as amended, or until the Registration Statement shall become effective on such date as the Securities and Exchange Commission,
acting pursuant to said Section 8(a), may determine.</B></P>


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; color: red">The information in this prospectus
is not complete and may be changed. We may not sell these securities until the registration statement relating to these securities filed
with the Securities and Exchange Commission becomes effective. This prospectus is not an offer to sell these securities and it is not
soliciting an offer to buy these securities in any state where the offer or sale is not permitted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; color: red">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: red"><B>Subject to Completion, Dated August
27, 2021</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>PROSPECTUS</B></FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>$</B></FONT><B>100,000,000</B></P>

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>FREIGHTCAR
AMERICA, INC.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">We may offer from time to
time shares of our common stock, preferred stock, debt securities, warrants, rights and units that include any of these securities. We
will offer securities in amounts, at prices and on terms to be determined at the time of the offering. The aggregate initial offering
price of the securities that we may offer under this prospectus will not exceed $100,000,000 (the &#8220;Offering&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">This prospectus describes
the general manner in which our securities may be offered using this prospectus. Each time we offer and sell securities, we will provide
you with a prospectus supplement that will contain specific information about the terms of that offering. Any prospectus supplement may
also add, update or change information contained in this prospectus. You should carefully read this prospectus and any applicable prospectus
supplement as well as the documents incorporated or deemed to be incorporated by reference in this prospectus before you purchase any
of the securities offered hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">These securities are being
registered to permit the offering and sale of these securities from time to time in the public market or otherwise, in amounts, at prices
and on terms determined at the time of offering. We may offer the securities directly or through agents or to or through underwriters
or dealers. If any agents or underwriters are involved in the sale of the securities, their names, and any applicable purchase price,
fee, commission or discount arrangement between or among them, will be set forth, or will be calculable from the information set forth,
in an accompanying prospectus supplement. We can sell the securities through agents, underwriters or dealers only with delivery of a prospectus
supplement describing the method and terms of the offering of such securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">Our common stock is
listed on the NASDAQ Global Market under the symbol &#8220;RAIL.&#8221; On August 25, 2021, the last reported sale price of our
common stock was $5.38 per share. Pursuant to General Instruction I.B.6 of Form S-3, as long as the aggregate market value of our
common stock held by non-affiliates remains below $75 million, we will not, during any 12-month period, sell common stock pursuant
to the Offering under this prospectus in a public primary offering with a value exceeding one-third of the aggregate market value of
our common stock held by non-affiliates. The aggregate market value of our outstanding common equity held by non-affiliates on
August 25, 2021 was approximately $66.1 million based on 15,724,922 shares of common stock outstanding, of which 12,287,513 shares
were held by non-affiliates, and a closing sale price on such date of $5.38 per share. As of the date hereof, we have not offered
any securities pursuant to General Instruction I.B.6 of Form S-3 during the period of 12 calendar months that ends on and includes
the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt"></P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Investing in our securities involves a high degree
of risk.<BR>
Please see &#8220;Risk Factors&#8221; beginning on page 3, and in any applicable prospectus supplement and under similar sections in the
documents we incorporate by reference into this prospectus.</B></P>

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

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

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="width: 100%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="width: 100%">&nbsp;</TD></TR>
  </TABLE>

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center; border-bottom: black 1.5pt solid"><B>TABLE OF
CONTENTS</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 5pt; width: 89%; text-align: left; padding-bottom: 5pt"><A HREF="#docu">Documents Incorporated by Reference</A></TD>
    <TD STYLE="padding-top: 5pt; width: 10%; text-align: right; padding-bottom: 5pt"><A HREF="#docu">1</A></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 5pt; text-align: left; padding-bottom: 5pt"><A HREF="#prossummary">Prospectus Summary</A></TD>
    <TD STYLE="padding-top: 5pt; text-align: right; padding-bottom: 5pt"><A HREF="#prossummary">2</A></TD>
    <TD>&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 5pt; text-align: left; padding-bottom: 5pt"><A HREF="#riskfactors">Risk Factors</A></TD>
    <TD STYLE="padding-top: 5pt; text-align: right; padding-bottom: 5pt"><A HREF="#riskfactors">3</A></TD>
    <TD>&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 5pt; text-align: left; padding-bottom: 5pt"><A HREF="#cautionary">Cautionary Statement Regarding Forward-Looking Statements</A></TD>
    <TD STYLE="padding-top: 5pt; text-align: right; padding-bottom: 5pt"><A HREF="#cautionary">16</A></TD>
    <TD>&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt"><A HREF="#useofproducts">Use of Proceeds</A></TD>
    <TD STYLE="padding-top: 5pt; text-align: right; padding-bottom: 5pt"><A HREF="#useofproducts">17</A></TD>
    <TD>&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt"><A HREF="#dofsec">Description of Securities</A></TD>
    <TD STYLE="padding-top: 5pt; text-align: right; padding-bottom: 5pt"><A HREF="#dofsec">18</A></TD>
    <TD>&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 5pt; text-align: left; padding-bottom: 5pt"><A HREF="#dofcap">Description of Capital Stock</A></TD>
    <TD STYLE="padding-top: 5pt; text-align: right; padding-bottom: 5pt"><A HREF="#dofcap">18</A></TD>
    <TD>&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 5pt; text-align: left; padding-bottom: 5pt"><A HREF="#dofpref">Description of Preferred Stock</A></TD>
    <TD STYLE="padding-top: 5pt; text-align: right; padding-bottom: 5pt"><A HREF="#dofpref">20</A></TD>
    <TD>&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 5pt; text-align: left; padding-bottom: 5pt"><A HREF="#dofdebt">Description of Debt Securities</A></TD>
    <TD STYLE="padding-top: 5pt; text-align: right; padding-bottom: 5pt"><A HREF="#dofdebt">22</A></TD>
    <TD>&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt"><A HREF="#dofwarrants">Description of Warrants</A></TD>
    <TD STYLE="padding-top: 5pt; text-align: right; padding-bottom: 5pt"><A HREF="#dofwarrants">24</A></TD>
    <TD>&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt"><A HREF="#dofrights">Description of Rights</A></TD>
    <TD STYLE="padding-top: 5pt; text-align: right; padding-bottom: 5pt"><A HREF="#dofrights">26</A></TD>
    <TD>&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt"><A HREF="#dofunits">Description of Units</A></TD>
    <TD STYLE="padding-top: 5pt; text-align: right; padding-bottom: 5pt"><A HREF="#dofunits">27</A></TD>
    <TD>&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt"><A HREF="#planofdistro">Plan of Distribution</A></TD>
    <TD STYLE="padding-top: 5pt; text-align: right; padding-bottom: 5pt"><A HREF="#planofdistro">27</A></TD>
    <TD>&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 5pt; text-align: left; padding-bottom: 5pt"><A HREF="#legalmatters">Legal Matters</A></TD>
    <TD STYLE="padding-top: 5pt; text-align: right; padding-bottom: 5pt"><A HREF="#legalmatters">30</A></TD>
    <TD>&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 5pt; padding-bottom: 5pt"><A HREF="#experts">Experts</A></TD>
    <TD STYLE="padding-top: 5pt; text-align: right; padding-bottom: 5pt"><A HREF="#experts">30</A></TD>
    <TD>&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 5pt; text-align: left; padding-bottom: 5pt"><A HREF="#info">Where You Can Find More Information</A></TD>
    <TD STYLE="padding-top: 5pt; text-align: right; padding-bottom: 5pt"><A HREF="#info">30</A></TD>
    <TD>&nbsp;</TD>
    </TR>
  </TABLE>


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

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

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


<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="text-align: center; margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid">i<P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">You should rely only on the information
incorporated by reference or provided in this prospectus, any prospectus supplement and the registration statement. We have not authorized
anyone else to provide you with different information. If anyone provides you with different or inconsistent information, you should not
rely on it. We are not making an offer to sell these securities in any state where the offer or sale is not permitted. You should assume
that the information in this prospectus and any prospectus supplement, or incorporated by reference, is accurate only as of the dates
of those documents. Our business, financial condition, results of operations and prospects may have changed since those dates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">This prospectus is part
of a registration statement that we filed with the Securities and Exchange Commission, or the SEC, using a &#8220;shelf&#8221; registration,
or continuous offering, process. Under this shelf registration process, we may, from time to time, offer and sell the securities described
in this prospectus in one or more offerings up to a maximum aggregate offering price of $100,000,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">This prospectus provides
you with a general description of the manner in which our securities may be offered by this prospectus. Each time we sell securities,
we will provide a prospectus supplement that will contain specific information about the terms of that offering and the offered securities.
Any prospectus supplement may also add, update or change information contained in this prospectus or in documents incorporated by reference
in this prospectus. Any prospectus supplement that contains specific information about the terms of the securities being offered may also
include a discussion of certain U.S. federal income tax consequences and any risk factors or other special considerations applicable to
those securities. Any statement that we make in this prospectus will be modified or superseded by any inconsistent statement made by us
in a prospectus supplement. The registration statement we filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;) includes
exhibits that provide more detail of the matters discussed in this prospectus. You should read this prospectus and the related exhibits
filed with the SEC and any prospectus supplement, together with additional information described under the heading &#8220;Where You Can
Find More Information&#8221; before making your investment decision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">Unless otherwise indicated
or the context requires otherwise, the words &#8220;we,&#8221; &#8220;us,&#8221; &#8220;our,&#8221; the &#8220;Company,&#8221; &#8220;FreightCar&#8221;
and &#8220;RAIL&#8221; refer to FreightCar America, Inc.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="docu"></A><B>DOCUMENTS INCORPORATED BY REFERENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">The following documents filed
by us with the SEC are incorporated into this prospectus by reference:</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"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 5.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our </FONT><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1320854/000156276221000129/rail-20201231x10k.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Annual
Report on Form 10-K for the fiscal year ended December 31, 2020</FONT></A><FONT STYLE="font-family: Times New Roman, Times, Serif">;</FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 5.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1320854/000156276221000228/rail-20210331x10q.htm">Quarterly
Report on Form 10-Q for the quarter ended March 31, 2021</A>; </FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 5.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our </FONT><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1320854/000095017021001493/rail-20210630.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Quarterly
Report on Form 10-Q for the quarter ended June 30, 2021</FONT></A><FONT STYLE="font-family: Times New Roman, Times, Serif">;</FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 5.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our Current Reports on Form 8-K filed with the
SEC on </FONT><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1320854/000117184321000147/f8k_010621.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">January
6, 2021</FONT></A><FONT STYLE="font-family: Times New Roman, Times, Serif">, </FONT><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1320854/000117184321000203/f8k_011121.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">January
11, 2021</FONT></A><FONT STYLE="font-family: Times New Roman, Times, Serif">, </FONT><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1320854/000117184321001104/f8k_021721.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">February
17, 2021</FONT></A><FONT STYLE="font-family: Times New Roman, Times, Serif">, </FONT><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1320854/000117184321002017/f8k_032421.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">March
24, 2021</FONT></A> <FONT STYLE="font-family: Times New Roman, Times, Serif">(Film Number 21766667), </FONT><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1320854/000117184321002153/f8k_033021.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">March
30, 2021</FONT></A><FONT STYLE="font-family: Times New Roman, Times, Serif">, </FONT><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1320854/000117184321003621/f8k_051821.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">May
19, 2021</FONT></A><FONT STYLE="font-family: Times New Roman, Times, Serif">, </FONT><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1320854/000117184321003678/f8k_052021.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">May
20, 2021</FONT></A><FONT STYLE="font-family: Times New Roman, Times, Serif">, </FONT><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1320854/000117184321004881/f8k_071421.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">July
15, 2021</FONT></A> <FONT STYLE="font-family: Times New Roman, Times, Serif">and </FONT><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1320854/000117184321005584/f8k_080521.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">August
5, 2021</FONT></A><FONT STYLE="font-family: Times New Roman, Times, Serif">;</FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 5.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our </FONT><A HREF="https://www.sec.gov/Archives/edgar/data/1320854/000119312521103441/d121234ddef14a.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">proxy
statement filed on April 1, 2021</FONT></A> <FONT STYLE="font-family: Times New Roman, Times, Serif">pursuant to Section 14(a) of the
Exchange Act for the annual meeting of stockholders for the year 2021; and</FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 5.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">the description of our common stock contained
in the Registration Statement on </FONT><A HREF="https://www.sec.gov/Archives/edgar/data/1320854/000119312505053550/ds1.htm#toc46925_16"><FONT STYLE="font-family: Times New Roman, Times, Serif">Form
S-1</FONT></A> <FONT STYLE="font-family: Times New Roman, Times, Serif">(No. 333-123384) filed with the SEC under Section 12 of the Exchange
Act on March 17, 2005, as amended by any subsequent amendments or reports filed for the purpose of updating such description.</FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">All documents
subsequently filed by us with the SEC pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act and before the termination
of this offering shall be deemed to be incorporated by reference into this prospectus. Any statement contained in a document
incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this
prospectus to the extent that a statement contained herein, or in any other subsequently filed document that also is or is deemed to
be incorporated by reference herein, modifies or supersedes such statement. Any such statement so modified or superseded shall not
be deemed, except as so modified or superseded, to constitute a part of this prospectus. Notwithstanding the foregoing, information
furnished under Items 2.02 and 7.01 of any Current Report on Form 8-K, including the related exhibits, is not incorporated by
reference in this prospectus.</P>

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

<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><A NAME="prossummary"></A>PROSPECTUS SUMMARY</B></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">This summary highlights
selected information appearing elsewhere in, or incorporated by reference in, this prospectus. While this summary highlights important
information about us, you should carefully read this prospectus (including the documents incorporated by reference into this prospectus)
and the registration statement of which this prospectus is a part in their entirety before investing in our securities, especially the
risks of investing in our securities which we discuss later in &#8220;Risk Factors.&#8221;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center">ABOUT FREIGHTCAR
AMERICA, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">We are a diversified manufacturer
of railcars and railcar components. We design and manufacture a broad variety of railcar types for transportation of bulk commodities
and containerized freight products primarily in North America, including open top hoppers, covered hoppers, and gondolas along with intermodal
and non-intermodal flat cars. We and our predecessors have been manufacturing railcars since 1901. Over the last several years, we have
introduced a number of new or redesigned railcar types as we continue to diversify our product portfolio.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">Our internet website is
www.freightcaramerica.com. We make available, free of charge, on or through our website items related to corporate governance, including,
among other things, our corporate governance guidelines, charters of various committees of our board of directors and our code of business
conduct and ethics. Our annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, and amendments thereto,
are available on our website and on the SEC&#8217;s website at www.sec.gov. Any stockholder of our company may also obtain copies of these
documents, free of charge, by sending a request in writing to Investor Relations at FreightCar America, Inc., 125 S. Wacker Drive, Suite
1500, Chicago, Illinois 60606.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">Our principal executive
offices are located at 125 S. Wacker Drive, Suite 1500, Chicago, Illinois 60606. Our telephone number is (800) 458-2235.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 36pt; margin-right: 0; margin-left: 0"><B>SUMMARY
OF THE OFFERING</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 STYLE="width: 43%; padding: 0.25pt"><FONT STYLE="font-size: 10pt"><B>Description of Securities Offered</B></FONT></TD>
    <TD STYLE="width: 57%; padding-right: 5.75pt; padding-bottom: 6pt; padding-left: 7.9pt; text-align: justify"><FONT STYLE="font-size: 10pt">We may offer from time to time shares of our common stock, preferred stock, debt securities, warrants, rights and units that include any of these securities. We will offer securities in amounts, at prices and on terms to be determined at the time of the offering. The aggregate initial offering price of the securities sold under this prospectus will not exceed $100,000,000 (the &#8220;Offering&#8221;).</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 18.75pt 0.25pt 0.25pt"><FONT STYLE="font-size: 10pt"><B>Common Stock Outstanding Before the Offering</B></FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 8.2pt; text-align: justify"><FONT STYLE="font-size: 10pt">15,724,922 shares.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 18.75pt 0.25pt 0.25pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 8.2pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt"><B>Use of Proceeds</B></FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 6pt; padding-left: 7.9pt; text-align: justify"><FONT STYLE="font-size: 10pt">We plan to use the net proceeds from the offering for capital expenditures, possible future acquisitions, and general corporate and working capital purposes. See &#8220;Use of Proceeds.&#8221;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt"><B>Risk Factors</B></FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-bottom: 6pt; padding-left: 7.9pt; text-align: justify"><FONT STYLE="font-size: 10pt">The securities offered hereby involve a high degree of risk. See &#8220;Risk Factors.&#8221; </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt"><B>NASDAQ Global Market Symbol of Common Stock</B></FONT></TD>
    <TD STYLE="padding-right: 18.75pt; padding-left: 8.2pt; text-align: justify"><FONT STYLE="font-size: 10pt">RAIL</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 8 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><A NAME="riskfactors"></A>RISK FACTORS</B></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">Any investment in
our securities involves a high degree of risk. You should carefully consider the following risk factors in conjunction with the other
information contained in this prospectus before investing in our securities The risks discussed in this prospectus could adversely affect
our business, operating results, prospects and financial condition. This could cause the value of our securities to decline and/or you
to lose part or all of your investment. The risks and uncertainties described below are not the only ones we face but do represent those
risks and uncertainties that we believe are material to us. Additional risks and uncertainties not presently known to us or that, as of
the date of this prospectus, we deem immaterial may also harm our business. Some statements in this prospectus, including statements in
the following risk factors, constitute forward-looking statements. Please refer to the section entitled &#8220;Cautionary Note Regarding
Forward-Looking Statements.&#8221;. To the extent that any particular offering of the securities described in this prospectus implicates
additional risks, we will include a discussion of those risks in an applicable prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 18pt 0 0; background-color: white"><B>Risks Related to the Railcar Industry</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; background-color: white"><B><I>We operate in
a highly cyclical industry, and our industry and markets are influenced by factors that are beyond our control, including U.S. and international
economic conditions. Such factors could adversely affect demand for our railcar offerings. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">Historically,
the North American railcar market has been highly cyclical and we expect it to continue to be highly cyclical. During the most recent
industry cycle, industry-wide railcar deliveries decreased from a peak of 82,296 railcars in 2015 to a low of 33,417 railcars in 2020.
During this period, our railcar production decreased from approximately 8,980 railcars in 2015 to 751 railcars in 2020. Our industry and
the markets for which we supply railcars are influenced by factors that are beyond our control, including U.S. and international economic
conditions. Downturns in economic conditions could result in lower sales volumes, lower prices for railcars and a loss of profits. The
cyclicality of the markets in which we operate may adversely affect our operating results and cash flow. In addition, fluctuations in
the demand for our railcars may cause comparisons of our sales and operating results between different fiscal years to be less meaningful
as indicators of our future performance. Furthermore, due to our recent consolidation of operations from multiple manufacturing facilities
to a single manufacturing facility in Casta&ntilde;os, Mexico, we may not be able to respond to cyclical upswings as quickly as we did
in the past.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 18pt 0 0; text-align: justify; background-color: white"><B><I>We operate in
a competitive industry and we may be unable to compete successfully against other railcar manufacturers.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">We
operate in a competitive marketplace especially in periods of low market demand resulting in excess manufacturing capacity and face substantial
competition from established competitors in the railcar industry in North America. We have three principal competitors in the North American
railcar market that primarily manufacture railcars for third-party customers, which are Trinity Industries, Inc., The Greenbrier Companies,
Inc. and National Steel Car Limited. These manufacturers have greater financial and technological resources than us, and they may increase
their participation in the railcar segments in which we compete. In addition to price, competition is based on delivery timing, product
performance and technological innovation, quality, customer service and other factors. In particular, technological innovation by any
of our existing competitors, or new competitors entering any of the markets in which we do business, could put us at a competitive disadvantage
and impair our ability to compete successfully against other railcar manufacturers or retain our market share in our established markets.
Increased competition for the sales of our railcar products could result in price reductions, reduced margins and loss of market share,
which could negatively affect our prospects, business, financial condition and results of operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify"><B><I>Competition could result in decreased
profitability.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 36pt">We operate in a highly competitive
business environment. Many of our competitors are larger than we are and have greater financial resources, higher credit ratings, and
a lower cost of capital. These factors may enable our competitors to offer products to customers at lower rates than we can provide, thus
negatively impacting our profitability, asset utilization and investment volume. In addition, we compete against railcar manufacturers
that have leasing subsidiaries. As we do not offer leasing options to our customers, our competitors are able to offer customers an option
we currently do not.</P>


<!-- Field: Page; Sequence: 9 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 18pt 0 0; text-align: justify; background-color: white"><B><I>We depend upon
a small number of customers that represent a large percentage of our sales. The loss of any single customer, or a reduction in sales
to any such customer, could have a material adverse effect on our business, financial condition and results of operations.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">Since
railcars are typically sold pursuant to large, periodic orders, a limited number of customers typically represent a significant percentage
of our railcar sales in any given year. Sales to our top three customers accounted for 44%, 21% and 12%, respectively, of revenues for
the year ended December 31, 2020. Sales to our top three customers accounted for 15%, 12% and 12%, respectively, of revenues for the year
ended December 31, 2019. Although we have long-standing relationships with many of our major customers, the loss of any significant portion
of our sales to any major customer, the loss of a single major customer or a material adverse change in the financial condition of any
one of our major customers could have a material adverse effect on our business, financial condition and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 18pt 0 0; text-align: justify; background-color: white"><B><I>The variable
purchase patterns of our customers and the timing of completion, delivery and customer acceptance of orders may cause our revenues and
income from operations to vary substantially each quarter, which will result in significant fluctuations in our quarterly results.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">Most
of our individual customers do not make purchases every year, since they do not need to replace, replenish or increase their railcar fleets
on a yearly basis. Many of our customers place orders for products on an&nbsp;as-needed&nbsp;basis, sometimes only once every few years.
As a result, the order levels for railcars, the mix of railcar types ordered and <FONT STYLE="background-color: white">the railcars ordered
by any particular customer have varied significantly from quarterly period to quarterly period in the past and may continue to vary significantly
in the future. Therefore, our results of operations in any particular quarterly period may be significantly affected by the number of
railcars delivered and product mix of railcars delivered in any given quarterly period. Additionally, because we record the sale of a
new and rebuilt railcar at the time the railcar is accepted by the customer following inspection and&nbsp;the railcar has transferred
to the customer&#8217;s specified connection point, and not when the order is taken, the timing of the completion, delivery and acceptance
of significant customer orders will have a considerable effect on fluctuations in our quarterly results. As a result of these quarterly
fluctuations, we believe that comparisons of our sales and operating results between quarterly periods may not be meaningful and, as such,
these comparisons should not be relied upon as indicators of our future performance.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 18pt 0 0; text-align: justify; background-color: white"><B><I>Our ability
to sell new railcars may be limited by other factors, including the availability and price of used railcars offered for sale and new or
used railcars offered for lease by leasing companies and others.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">Our
customers may consider alternatives to the purchase of new railcars, including the purchase of used railcars, refurbishment of existing
railcars or the lease of new or used railcars. Our competitors may also be able to offer railcar leases at favorable lease rates, negatively
impacting our ability to sell new railcars, which may result in price reductions, reduced margins and loss of market share. These additional
competitive factors could negatively affect our prospects, business, financial condition and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 18pt 0 0; text-align: justify; background-color: white"><B><I>The potential
cost volatility of the raw materials that we use to manufacture railcars, especially steel and aluminum, and delivery delays associated
with these raw materials may adversely affect our financial condition and results of operations.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">The
production of railcars and our operations require substantial amounts of steel and aluminum. The cost of steel, aluminum and all other
materials (including scrap metal) used in the production of our railcars represents a significant majority of our direct manufacturing
costs. Our business is subject to the risk of price increases and periodic delays in the delivery of steel, aluminum and other materials,
all of which are beyond our control. Any fluctuations in the price or availability of steel or aluminum, or any other material used in
the production of our railcars, may have a material adverse effect on our business, results of operations or financial condition. In addition,
if any of our suppliers were unable to continue its business or were to seek bankruptcy relief, the availability or price of the materials
we use could be adversely affected. Deliveries of our materials may also fluctuate depending on supply and demand for the material or
governmental regulation relating to the material, including regulation relating to the importation of the material.</P>


<!-- Field: Page; Sequence: 10 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 18pt 0 0; text-align: justify; background-color: white"><B><I>Limitations
on the supply of railcar components could adversely affect our business because they may limit the number of railcars we can manufacture.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">We
rely upon third-party suppliers for various components for our railcars. In the future, suppliers of railcar components may be unable
to meet the short-term or longer-term demand of our industry for certain railcar components. In the event that any of our suppliers of
railcar components were to stop or reduce their production, go out of business, refuse to continue their business relationships with us,
become subject to work stoppages or ration their supply of components, our business could be disrupted. During periods of high or rapidly
increasing railcar demand, we have in the past experienced challenges sourcing certain railcar components to meet our production requirements.
In addition, our ability to increase our railcar production to expand our business and/or meet any increase in demand, with new or additional
manufacturing capabilities, depends on our ability to obtain an adequate supply of these railcar components. While we believe that we
could secure alternative sources for these components, we may incur substantial delays and significant expense in doing so, the quality
and reliability of these alternative sources may not be the same and our operating results may be significantly affected. In an effort
to secure a supply of components, we have developed foreign sources that require deposits on some occasions. In the event of a material
adverse business condition, such deposits may be forfeited. In addition, if one of our competitors entered into a preferred supply arrangement
with, or was otherwise favored by, a particular supplier, we would be at a competitive disadvantage, which could negatively affect our
operating results. Furthermore, alternative suppliers might charge significantly higher prices for railcar components than we currently
pay. Such circumstances could have a material adverse impact on our customer relationships, financial condition and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify"><B><I>Changes in railroad efficiency may adversely
affect demand for our railcars.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 36pt">Improvements in railroad
efficiency, such as from precision scheduled railroading,&nbsp;or declines in rail traffic due to decreased demand could increase the
average speed at which railroads can operate their trains, which may reduce the number of railcars needed for railroads to haul the same
amount of cargo. Adverse weather conditions, railroad mergers, and increase in rail traffic could result in slower transit times making
rail transportation less attractive to shippers versus other modes of transport. In each case, these changes could reduce demand for our
railcars and negatively impact revenue and our result of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify"><B><I>A significant decrease in lease renewals
by our customers could negatively impact operations and substantially increase our costs.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 36pt">Decreases in customer demand
for our railcars could increase the number of leases that are not renewed upon expiration, resulting in the early return of railcars.
Railcars that are returned by our customers often must undergo maintenance and service work before being leased to new customers. A significant
increase in the number of railcars requiring maintenance may negatively affect our operations and substantially increase maintenance and
other related costs. In addition, low demand for certain types of railcars in our fleet may make those railcars more difficult to lease
to new customers if they are returned at the end of their existing leases or following a customer default, which could negatively affect
our results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify"><B><I>Our rail operations are subject to various
laws, rules, and regulations. If these laws, rules, and regulations change or we fail to comply with them, it could have a significant
negative effect on our business and profitability.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 36pt">Our rail operations are subject
to various laws, rules, and regulations administered by authorities in jurisdictions where we do business. In the United States, our railcar
fleet is subject to safety, operations, maintenance, and mechanical standards, rules, and regulations enforced by various federal and
state agencies and industry organizations, including the&nbsp;Department of Transportation, the&nbsp;Federal Railroad Administration,
and the&nbsp;Association of American Railroads. State agencies regulate some health and safety matters related to rail operations not
otherwise preempted by federal law. Our business and railcar fleet may be adversely impacted by new rules or regulations, or changes to
existing rules or regulations, which could require additional maintenance or substantial modification or refurbishment of our railcars,
or could make certain types of railcars inoperable or obsolete or require them to be phased out prior to the end of their useful lives.
In addition, violations of these rules and regulations can result in substantial fines and penalties, including potential limitations
on operations or forfeitures of assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 36pt"></P>

<!-- Field: Page; Sequence: 11 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 36pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify"><B><I>We are subject to extensive environmental
regulations and the costs of remediation may be material.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 36pt">We are subject to
extensive federal, state, and local environmental laws and regulations concerning, among other things, the discharge of hazardous
materials. Under some environmental laws in the United States, the owner of a leased railcar may be liable for environmental damage,
cleanup or other costs in the event of a spill or discharge of material from a railcar without regard to the owner&#8217;s fault. We
routinely assess environmental liabilities, including our potential obligations and the possible amount of recoveries from other
responsible parties. Due to the regulatory complexities and the potential liability for the operations of our lessees, it is
possible environmental and remediation costs could adversely affect our financial performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify"><B><I>Our lease fleet assets may become obsolete.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 36pt">In addition to changes in
laws, rules, and regulations that may make our assets obsolete, changes in the preferred method our customers use to ship their products
or changes in demand for particular products, or a shift by customers toward purchasing assets rather than leasing them, may adversely
impact us. Our customers&#8217;&nbsp;industries are driven by dynamic market forces and trends, which are influenced by economic and political
factors. Changes in our customers' markets may significantly affect demand for our rail assets. A reduction in customer demand or change
in customers&#8217;&nbsp;preferred method of product transportation could result in the economic obsolescence of the assets leased by
those customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; background-color: white; color: #0D0D0D"><B>Risks
Related to our Business</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white; color: #212529"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white; color: #212529"><B><I>The
COVID-19 coronavirus pandemic, governmental reaction to the pandemic, and related economic disruptions could negatively impact on our
business, liquidity and financial position, results of operations, stock price, and ability to convert backlog to revenue.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white; color: #212529">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt; background-color: white; color: #212529">The
COVID-19 coronavirus outbreak continues to present risks to our business. While in some geographies economic activity has increased and
the rate of human morbidity and mortality have decreased in recent months, the pandemic has not yet been contained and the number of its
victims and the extent of negative impact on the global economy cannot be foreseen.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt; background-color: white; color: #212529">We
are unable to predict when, how, or with what magnitude COVID-19 and related events will negatively impact our business. We currently
identify the following factors as the most significant risks to our business due to COVID-19, governmental actions, and economic conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white; color: #212529">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; color: #212529">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: #212529">We may be prevented from operating our </FONT>Casta&ntilde;os, Mexico <FONT STYLE="color: #212529">facility
or other worksites due to the illness of our employees, &#8220;stay-at-home&#8221; regulations, and employee reluctance to appear for
work. Extended closure of our </FONT>Casta&ntilde;os, Mexico <FONT STYLE="color: #212529">facility could have a material negative impact
on our financial position and results of operations.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; color: #212529">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: #212529">If an outbreak of COVID-19 were to occur at our </FONT>Casta&ntilde;os, Mexico
<FONT STYLE="color: #212529">facility, we could be obligated to close the facility for an extended period of time, and might not have
a workforce adequate to meet our operating needs.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white; color: #212529"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The operations of our customers may be disrupted, thereby increasing the likelihood that our customers
may attempt to delay, defer or cancel orders, reduce orders for our products and services in the future or cease to operate as going concerns.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white; color: #212529"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The operations of our suppliers may be disrupted and the markets for the inputs to our business may not
operate effectively or efficiently, thereby negatively impacting our ability to purchase inputs for our business at reasonable prices,
in a timely manner and in sufficient amounts.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white; color: #212529"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Our indebtedness may increase due to our need to increase borrowing to fund operations during a period
of reduced revenue.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white; color: #212529"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The market price of our common stock may drop or remain volatile.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white; color: #212529">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt; background-color: white">The longer
the pandemic continues, the more likely that more of the foregoing risks will be realized and that other negative impacts on our business
will occur, some of which we cannot now foresee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0; background-color: white; color: #231F20"><B>&nbsp;</B></P>

<!-- Field: Page; Sequence: 12 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0; background-color: white; color: #231F20"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0; background-color: white; color: #231F20"><B><I>We
have experienced net losses at different times in our history, including the most recent years. We may also incur losses in the future.</I></B></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt; background-color: white; color: #231F20">We
have incurred losses from operations over the past 4 years and expect to continue to incur losses from operations for the foreseeable
future. We reported losses from operations of $86.1 million and $75.2 million for the years ended December 31, 2020 and 2019, respectively,
and $40.4 million for the six months ended June 30, 2021. As a result of these losses, as of June 30, 2021, we had an accumulated deficit
of approximately $79.0 million. We expect to continue to incur significant expenses as we operate our business. The net losses that we
incur may fluctuate significantly from period to period. We will need to generate significant additional revenue in order to achieve and
sustain profitability. Even if we achieve profitability, we cannot be sure that we will remain profitable for any substantial period of
time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white; color: #231F20"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white; color: #231F20"><B><I>The
types of rail equipment we sell and the services we provide significantly impact our revenue and our margin and are dependent on broad
economic trends over which we have little or no control.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt; background-color: white; color: #231F20">We
manufacture, convert and lease a broad range of railcars and related rail equipment. The demand for specific types of railcars varies
over time. Changes in the global economy and the industries and geographies that we serve cause shifts in demand for specific products
and services. These shifts&nbsp;in demand&nbsp;could&nbsp;affect&nbsp;our results&nbsp;of operations&nbsp;and could&nbsp;have an adverse&nbsp;effect&nbsp;on
our revenue and our profitability.&nbsp;Demand for specific types of railcars increases and decreases with the demand for goods such as
grains, metals, construction aggregates, fertilizer, perishables and general merchandise, plastic pellets, oil and gas, bio-fuels, chemicals,
and automobiles, among others, which is beyond our control.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white; color: #231F20"><B><I>Cyclical&nbsp;economic&nbsp;downturns
in our industry usually&nbsp;result in decreased demand for&nbsp;our products&nbsp;and services&nbsp;and reduced&nbsp;revenue.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt; background-color: white"><FONT STYLE="color: #231F20">The
industry in which we operate is subject to periodic economic cycles.&nbsp;The&nbsp;purchasing&nbsp;trends&nbsp;of customers in our industry
have a significant&nbsp;</FONT>impact<FONT STYLE="color: #231F20">&nbsp;on demand&nbsp;for&nbsp;our products&nbsp;and services.&nbsp;As
a result, during downturns,&nbsp;the rate at which we&nbsp;convert backlog to revenue usually decreases&nbsp;and we may&nbsp;slow&nbsp;</FONT>down<FONT STYLE="color: #231F20">&nbsp;or
halt production.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white; color: #231F20"><B><I>Equipment
failures, technological failures, costs and inefficiencies associated with changing of production lines, could lead to production, delivery,
or service curtailments or shutdowns, loss of revenue or higher expenses.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt; background-color: white"><FONT STYLE="color: #231F20">We
operate a substantial amount of equipment at our</FONT> Casta&ntilde;os, Mexico <FONT STYLE="color: #231F20">production facility. An interruption
in production capabilities as a result of equipment or technology failure, acts of nature, terrorism, costs and inefficiencies associated
with changing of production lines, could reduce or prevent our production or of our products and increase our costs and expenses. A halt
of production at our </FONT>Casta&ntilde;os, Mexico <FONT STYLE="color: #231F20">manufacturing facility could severely affect delivery
times to our customers. Any significant delay in deliveries not otherwise contractually mitigated could result in cancellation of all
or a portion of our orders, cause us to lose future sales, and negatively affect our reputation and our results of operations. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white; color: #231F20"><B><I>Demand
for our railcar equipment is dependent on the future of rail transportation and the manner in which railroads operate.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt; background-color: white"><FONT STYLE="color: #231F20">Demand
for our rail equipment may decrease if freight rail decreases as a mode of freight transportation used by customers to ship their products,
or if governmental policies favor modes of freight transportation other than rail. If rail freight transportation becomes more efficient
or dwell times decrease, demand for our rail equipment may decrease. If the rail freight industry becomes oversupplied, prices for our
railcars, lease rates, and demand for our products may decrease. The industries&nbsp;in which our customers&nbsp;operate&nbsp;are&nbsp;driven&nbsp;by
dynamic&nbsp;market&nbsp;forces&nbsp;and trends,&nbsp;which</FONT>&nbsp;<FONT STYLE="color: #231F20">are&nbsp;in turn&nbsp;influenced&nbsp;by
economic, regulatory,&nbsp;and political&nbsp;factors.&nbsp;Features&nbsp;and functionality&nbsp;specific&nbsp;to certain&nbsp;railcar&nbsp;types&nbsp;could&nbsp;result&nbsp;in
those&nbsp;railcars&nbsp;becoming obsolete&nbsp;as customer&nbsp;requirements&nbsp;for&nbsp;freight&nbsp;delivery&nbsp;change.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; background-color: white"><B><I>Lack of acceptance
of our new railcar offerings by our customers could adversely affect our business.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">Our
growth strategy depends in part on our continued development and sale of new railcar designs and design changes to existing railcars
to penetrate railcar markets in which we currently do not compete and to expand or maintain our market share in the railcar markets
in which we currently compete. We have dedicated significant resources to the development, manufacturing and marketing of new
railcar designs. We develop and market new railcars and railcars with modified designs based on anticipated industry need and
trends, but without firm customer orders. Many railcar purchasers prefer to maintain a standardized fleet of railcars and railcar
purchasers with established railcar fleets are generally resistant to railcar design changes. Therefore, any new or modified railcar
designs that we develop may not gain widespread acceptance in the marketplace and any such products may not be able to compete
successfully with existing railcar designs or new railcar designs that may be introduced by our competitors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 18pt 0 0; text-align: justify; background-color: white"><B><I></I></B></P>

<!-- Field: Page; Sequence: 13 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 18pt 0 0; text-align: justify; background-color: white"><B><I>The level of
our reported backlog may not necessarily indicate what our future sales will be and our actual sales may fall short of the estimated sales
value attributed to our backlog.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">We
define backlog as the sales value of products or services to which our customers have committed in writing to purchase from us or lease
from us when built, that have not yet been recognized as revenue. In our annual report on Form&nbsp;10-K for the fiscal year ended December
31, 2020,&nbsp;we disclosed our backlog, or the number of railcars for which we have purchase orders in various periods and the estimated
sales value (in dollars) that would be attributable to this backlog once the backlog is converted to actual sales. We consider backlog
to be an indicator of future sales of railcars. However, our reported backlog may not be converted into sales in any particular period,
if at all, and the actual sales from such contracts may not equal our reported estimates of backlog value. Customer orders may be subject
to cancellation, inspection rights and other customary industry terms, and delivery dates may be subject to delay, thereby extending the
date on which we will deliver the associated railcars and realize revenues attributable to such railcar backlog or could prevent the backlog
from being converted to sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 18pt 0 0; background-color: white"><B><I>Our warranties may expose us to potentially
significant claims, which may damage our reputation and adversely affect our business, financial condition and results of operations.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">We
generally warrant that new railcars produced by us will be free from defects in material and workmanship under normal use and service
identified for a period of up to five years from the time of sale. Accordingly, we may be subject to a risk of product liability or warranty
claims in the event that the failure of any of our products results in property damage, personal injury or death, or does not conform
to our customers&#8217; specifications. Although we currently maintain product liability insurance coverage, product liability claims,
if made, may exceed our insurance coverage limits or insurance may not continue to be available on commercially acceptable terms, if at
all. These types of product liability and warranty claims may result in costly product recalls, significant repair costs and damage to
our reputation, all of which could adversely affect our results of operations. This risk may increase over the short-term due to our limited
warranty claim experience for our new product offerings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0; background-color: white"><B><I>We
may be a party to litigation in the normal course of business or otherwise, which could affect our financial position and liquidity.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">From
time to time, we are a party to or otherwise involved in legal proceedings, claims and government inspections or investigations and other
legal matters arising in the ordinary course of our business or otherwise. We are currently involved in various legal proceedings and
claims that have not yet been fully resolved, and additional claims may arise in the future. Legal proceedings can be complex and take
many months, or even years, to reach resolution, with the final outcome depending on a number of variables, some of which are not within
our control. Litigation is subject to significant uncertainty and may be expensive, time-consuming, and disruptive to our operations.
Although we will vigorously defend ourselves in such legal proceedings, their ultimate resolution and potential financial and other impacts
on us are uncertain. For these and other reasons, we may choose to settle legal proceedings and claims, regardless of their actual merit.
If a legal proceeding is resolved against us, it could result in significant compensatory damages, and in certain circumstances punitive
or trebled damages, disgorgement of revenue or profits, remedial corporate measures or injunctive relief imposed on us. If our existing
insurance does not cover the amount or types of damages awarded, or if other resolution or actions taken as a result of the legal proceeding
were to restrain our ability to operate or market our services, our consolidated financial position, results of operations or cash flows
could be materially adversely affected. In addition, legal proceedings, and any adverse resolution thereof, can result in adverse publicity
and damage to our reputation, which could adversely impact our business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">Currently,
the Company is involved in various warranty and repair claims and, in certain cases, related pending and threatened legal proceedings
with its customers in the normal course of business. In the opinion of management, the Company&#8217;s potential losses in excess of the
accrued warranty and legal provisions, if any, are not expected to be material to the Company&#8217;s consolidated financial condition,
results of operations or cash flows.</P>


<!-- Field: Page; Sequence: 14 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; background-color: white"><B><I>Risks related
to our operations outside of the U.S., particularly Mexico, could decrease our profitability. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">Our
operations outside of the U.S. are subject to the risks associated with cross-border business transactions and activities. Political,
legal, trade, economic change or instability, criminal activities or social unrest could limit or curtail our respective foreign business
activities and operations, including the ability to hire and retain employees. We cannot predict the likelihood of future effects from
such risks or any resulting adverse impact on our business, results of operations or financial condition. Many items manufactured by us
in Mexico are sold in the U.S., and the transportation and import of such products may be disrupted. Some foreign countries where we operate
have regulatory authorities that regulate products sold or used in those countries. In addition, with respect to operations in foreign
countries, unexpected changes in laws, rules, and regulatory requirements; tariffs and other trade barriers, including regulatory initiatives
for buying goods produced in America; more stringent or restrictive laws, rules, and regulations relating to labor or the environment;
adverse tax consequences; price exchange controls; and restrictions or regulations affecting cross-border rail and vehicular traffic could
limit operations affecting production throughput and making the manufacture and distribution of our products less timely or more difficult.
Furthermore, any material change in the quotas, regulations, or duties on imports imposed by the U.S. government and agencies, or on exports
by the government of Mexico or its agencies, could affect our ability to export products that we manufacture in Mexico. Because we have
operations outside the U.S., we could be adversely affected by final judgments of non-compliance with the U.S. Foreign Corrupt Practices
Act or import/export rules and regulations and similar anti-corruption, anti-bribery, or import/export laws of other countries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0; background-color: white"><B><I>A
decrease in VAT rates or changes in VAT or VAT refund policies in Mexico could negatively affect our business.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 36pt; margin-right: 0; margin-left: 0; background-color: white">Any
adverse changes to value-added tax (&#8220;VAT&#8221;) policies in Mexico, or any potential new markets we may enter in the future, could
have a negative impact on our business and results of operations. Currently, VAT in Mexico is payable at the general rate of 16% on sales
of goods and services. Changes in the laws and regulations concerning VAT in Mexico, which are unpredictable and outside of our control,
may cause us to incur higher compliance costs. Any such changes to VAT rates or VAT policies could have a material adverse effect on our
business, results of operations and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><B><I>Since a portion of our
expenses in Mexico are paid in Mexican pesos, we are subject to changes in currency values that may adversely affect our results of operations.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 36pt; margin-right: 0; margin-left: 0">Our operations
in the future could be affected by changes in the value of the Mexican peso against the United States dollar. The appreciation of non-U.S.
dollar currencies such as the peso against the U.S. dollar increases expenses and the cost of purchasing capital assets in U.S. dollar
terms in Mexico, which can adversely impact our operating results and cash flows. Conversely, depreciation of non-U.S. dollar currencies
usually decreases operating costs and capital asset purchases in U.S. dollar terms. The value of cash and cash equivalents, and other
monetary assets and liabilities denominated in foreign currencies also fluctuate with changes in currency exchange rates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>New tariffs and evolving trade policy between
the US and other countries may adversely affect our business.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">New tariffs and evolving trade
policy between the United States and other countries, in particular Mexico, may have an adverse effect on our shipment of raw material
from the United States to Mexico and the shipment of finished products from Mexico to the United States. Any increased costs of doing
business internationally, whether it be through taxation, compliance with more burdensome regulations or otherwise, or any limitation
on the quantity of raw materials and/or products we can ship across the United States-Mexico border, would have an adverse effect on our
business and results of operations. Our facility in Mexico also orders raw materials from suppliers located in China. Any increased cost
of doing business with China and/or any political changes with respect to the importation of Chinese goods into Mexico could have an adverse
impact on our business and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">There is uncertainty about the
future relationship between the U.S. and various other countries, including China, with respect to trade policies, treaties, government
regulations and tariffs under the Biden Administration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<!-- Field: Page; Sequence: 15 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">It is unclear to what extent
the Biden Administration will continue to pursue the trade policies of the Trump Administration. The Biden Administration may seek
to impose certain additional restrictions on international trade, such as increased tariffs on goods imported into the U.S. Such
tariffs could potentially disrupt our existing supply chains and impose additional costs on our business. Furthermore, if tariffs,
trade restrictions or trade barriers are placed on products such as ours by foreign governments, it could cause us to raise prices
for our products, which may result in the loss of customers. If we are unable to pass along increased costs to our customers, our
margins could be adversely affected. Further, the continued threats of tariffs, trade restrictions and trade barriers could have a
generally disruptive impact on the global economy and, therefore, negatively impact our sales. For example, the Trump Administration
placed tariffs on certain goods imported from China. In January 2020, the U.S. and China agreed to roll back certain tariffs, expand
trade purchases and impose binding commitments on intellectual property, technology transfer and currency practices. Nevertheless,
given the volatility and uncertainty regarding the scope and duration of these tariffs and other aspects of U.S. international trade
policy, the impact on our operations and results is uncertain and could be significant. Further governmental action related to
tariffs, additional taxes, regulatory changes or other retaliatory trade measures could occur in the future. Any of these factors
could have a material adverse effect on our business, financial condition, results of operations and cash flows.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><B><I>Business that we may acquire in the future
may fail to perform to expectations or we may be unable to successfully integrate acquired business with our existing business.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">We
may engage in future acquisitions, which in each case could materially affect our business, operating results, and financial condition.
However, we may not be able to find suitable acquisition candidates, and we may not be able to complete such acquisitions on favorable
terms, if at all. Future acquisitions may not strengthen our competitive position or achieve our desired goals and may disrupt our ongoing
operations, divert management from&nbsp;day-to-day&nbsp;responsibilities, increase our expenses and reduce our cash available for operations
and other uses. There can be no assurance that we will be able to effectively manage the integration of businesses we may acquire in the
future, or be able to retain and motivate key personnel from those businesses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 18pt 0 0; background-color: white"><B><I>If we lose key personnel, our operations
and ability to manage the&nbsp;day-to-day&nbsp;aspects of our business may be adversely affected.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">We
believe our success depends to a significant degree upon the continued contributions of our executive officers and key employees, both
individually and as a group. Our future performance will substantially depend on our ability to retain and motivate them. If we lose key
personnel or are unable to recruit qualified personnel, our ability to manage the&nbsp;day-to-day&nbsp;aspects of our business may be
adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">The
loss of the services of one or more members of our senior management team could have a material adverse effect on our business, financial
condition and results of operations. Because our senior management team has many years of experience in the railcar industry and other
manufacturing and capital equipment industries, it could be difficult to replace any of them without adversely affecting our business
operations. Our future success will also depend in part upon our continuing ability to attract and retain highly qualified personnel.
We do not currently maintain &#8220;key person&#8221; life insurance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 18pt 0 0; background-color: white"><B><I>We lease our sole manufacturing facility
from an affiliate of our Vice President of Operations and one of our directors, who is also affiliated with one of our significant stockholders.
Disagreements with these parties could have an adverse effect on our operations.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 18pt 0 0; text-indent: 36pt; background-color: white">We lease our sole manufacturing
facility in Casta&ntilde;os, Mexico from an entity that is majority-owned by the sibling of Jesus Gil, our Vice President of Operations
and one of our directors. In addition, affiliates of Mr. Gil and his sibling collectively own approximately 14.3% of our common stock.
Should a disagreement arise between us and Mr. Gil or any of these affiliated parties, our ongoing relationship with the lessor of our
sole manufacturing facility and our ability to maintain operations at such facility may be negatively affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 18pt 0 0; background-color: white"><B><I>Shortages of skilled labor may adversely
impact our operations.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 36pt; background-color: white">We depend on skilled
labor in the manufacture of railcars Shortages of some types of skilled laborers may restrict our ability to maintain or increase production
rates and could cause our labor costs to increase.</P>


<!-- Field: Page; Sequence: 16 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 18pt 0 0; background-color: white"><B><I>Labor disputes could disrupt our
operations and divert the attention of our management and may have a material adverse effect on our operations and profitability.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">As
of December&nbsp;31, 2020, we had a collective bargaining agreement with a union representing approximately 75%<B>&nbsp;</B>of our total
active labor force that expires on August&nbsp;1, 2022. Disputes with the unions representing our employees could result in strikes or
other labor protests which could disrupt our operations and divert the attention of management from operating our business. If we were
to experience a strike or work stoppage, it could be difficult for us to find a sufficient number of employees with the necessary skills
to replace these employees. Any such labor disputes could have a material adverse effect on our financial condition, results of operations
or cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 18pt 0 0; text-align: justify; background-color: white"><B><I>We rely upon
a single supplier to supply us with all of our roll-formed center sills for our railcars, and any disruption of our relationship with
this supplier could adversely affect our business.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">We
rely upon a single supplier to manufacture all of our roll-formed center sills for our railcars, which are based upon our proprietary
and patented process. A center sill is the primary longitudinal structural component of a railcar, which helps the railcar withstand the
weight of the cargo and the force of being pulled during transport. Our center sill is formed into its final shape without heating by
passing steel plate through a series of rollers <FONT STYLE="background-color: white">Roll Form Group is the sole supplier of our roll-formed
center sills, which were used in 44% and 37% of our new railcars produced in 2020 and 2019, respectively</FONT>. Although we have a good
relationship with our supplier and have not experienced any significant delays, manufacturing shortages or failures to meet our quality
requirements and production specifications in the past, our supplier could stop production of our roll-formed center sills, go out of
business, refuse to continue its business relationship with us or become subject to work stoppages. While we believe that we could secure
alternative manufacturing sources, our present supplier is currently the only manufacturer of our roll-formed center sills for our railcars.
We may incur substantial delays and significant expense in finding an alternative source, our results of <FONT STYLE="background-color: white">operations
may be significantly affected and the quality and reliability of these alternative sources may not be the same. Moreover, alternative
suppliers might charge significantly higher prices for our roll-formed center sills than we currently pay.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; background-color: white"><B><I>Equipment failures, delays in deliveries
or extensive damage to our facility could lead to production or service curtailments or shutdowns.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">We
have one railcar production facility in Casta&ntilde;os, Mexico. An unplanned interruption in railcar production capabilities at the facility,
as a result of equipment failure or other factors, could reduce or prevent our production of railcars. A halt of production at our manufacturing
facility could severely affect delivery times to our customers. Any significant delay in deliveries to our customers could result in the
termination of contracts, cause us to lose future sales and negatively affect our reputation among our customers and in the railcar industry
and our results of operations. Our facility is also subject to the risk of catastrophic loss due to unanticipated events, such as fires,
explosions, floods or weather conditions. We may experience a plant shutdown or periods of reduced production as a result of equipment
failures, delays in deliveries or extensive damage to our facility, which could have a material adverse effect on our business, results
of operations or financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; background-color: white"><B><I>The Company may be unable to renew
its lease arrangements at its manufacturing facility at commercially acceptable terms.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">Our
manufacturing facility is leased from a related party. As the lease expires, we may be unable to negotiate renewals on commercially acceptable
terms. Failure to renew our lease at commercially acceptable terms could have a potential adverse impact on our operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; background-color: white"><B><I>We might fail
to adequately protect our intellectual property, which may result in our loss of market share, or third parties might assert that our
intellectual property infringes on their intellectual property, which would be costly to defend and divert the attention of our management.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">The
protection of our intellectual property is important to our business. We rely on a combination of trademarks, copyrights, patents and
trade secrets to protect our intellectual property. However, these protections might be inadequate. Our pending or future trademark, copyright
and patent applications might not be approved or, if allowed, might not be sufficiently broad. Conversely, third parties might assert
that our technologies or other intellectual property infringe on their proprietary rights. In either case, litigation may result, which
could result in substantial costs and diversion of our management team&#8217;s efforts. Regardless of whether we are ultimately successful
in any litigation, such litigation could adversely affect our business, results of operations and financial condition.</P>


<!-- Field: Page; Sequence: 17 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; background-color: white"><B><I>Our information
technology and other systems are subject to cybersecurity risk, including the misappropriation of customer information and other breaches
of information security. Security breaches and other disruptions could compromise our information, expose us to liability and harm our
reputation and business.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">In
the ordinary course of our business, we collect and store sensitive data on our networks, including intellectual property, our proprietary
business information and that of our customers, suppliers and business partners and personally identifiable information and other personal
information of our customers and employees. While we continually work to safeguard our systems and to mitigate potential security risks,
our information and processes are exposed to increasing global information security threats and more sophisticated and targeted computer
crime, which may result in our data being subject to a security breach, a system failure, a computer virus, malicious software or unauthorized
or fraudulent use by our employees or other third parties. Any compromise of our data security and access to or public disclosure or loss
of personal or confidential business information could result in legal claims or proceedings with third parties, liability or regulatory
penalties under the laws that protect the privacy of personal information, disruption of our operations, damage to our reputation, loss
of business or remediation costs, any of which could have a material adverse effect on our prospects, business, financial condition and
results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; background-color: white"><B><I>We are subject to legislative, regulatory,
and legal developments involving taxes</I>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">On
December&nbsp;22, 2017, the President of the United States signed into law the Tax Cuts and Jobs Act (the &#8220;Tax Act&#8221;). The
Tax Act includes a number of changes to existing U.S. tax laws that impact us, most notably a reduction of the U.S. corporate income tax
rate from 35&nbsp;percent to 21&nbsp;percent for tax years beginning after December&nbsp;31, 2017. The Tax Act also provides for the acceleration
of depreciation for certain assets placed into service after September&nbsp;27, 2017 as well as prospective changes beginning in 2018,
including the repeal of the domestic manufacturing deduction and additional limitations on executive compensation. Changes in our tax
provision or an increase to our tax liabilities, whether due to the Tax Act, interpretations thereof or related guidance or other changes
relating to the tax laws and rules that are applicable to us, could have a material adverse effect on our financial position, results
of operations and cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">As
a result of recent changes in the U.S. government, tax reform may be enacted in the near future.&nbsp;These changes could include a reduction
in the U.S. corporate tax rate, elimination of certain deductions and a border tax adjustment. We cannot predict whether or not any of
these tax reform proposals will ultimately be adopted and, until the details of each proposal have been developed and reviewed, we cannot
determine the impact of the proposed legislation on our tax expense.&nbsp;However, any changes could have a significant impact on the
Company&#8217;s business and financial results depending upon the final legislation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 36pt; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0; background-color: white"><B><I>We
may not collect all amounts recorded for value added taxes related to our operations in Mexico and may be subject to additional income
tax in Mexico, which may adversely affect our financial results.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">Our
Mexican operations are subject to a value added tax, or VAT, which has been applied to the imports of products originating outside of
Mexico. We have an outstanding VAT receivable from the Mexico taxing authority primarily related to VAT levied on product shipments for
the years 2020 and 2021. At June 30, 2021, the Company&#8217;s VAT receivable was $21.3 million. There is no guarantee that we will be
able to recoup the entire VAT receivable balance. The Mexico taxing authority can challenge the registration of our transactions that
generate VAT receivables. Any contest by the Mexico taxing authority of our reported VAT receivable balance and may result in a decrease
in the amount of estimated VAT receivable. The reduction of VAT receivable and/or conclusion by the Mexico taxing authority that additional
foreign income tax payments are owed by the Company could adversely affect our financial condition, operating results or cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 18pt 0 0; background-color: white"><B><I>We are subject to a variety of environmental
laws and regulations and the cost of complying with environmental requirements or any failure by us to comply with such requirements may
have a material adverse effect on our business, financial condition and results of operations.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">We
are subject to a variety of federal, state and local environmental laws and regulations, including those governing air quality and
the handling, disposal and remediation of waste products, fuel products and hazardous substances. Although we believe that we are in
material compliance with all of the various regulations and permits applicable to our business, we may not at all times be in
compliance with such requirements. The cost of complying with environmental requirements may also increase substantially in future
years. If we violate or fail to comply with these regulations, we could be fined or otherwise sanctioned by regulators. In addition,
these requirements are complex, change frequently and may become more stringent over time, which could have a material adverse
effect on our business. We have in the past conducted investigation and remediation activities at properties that we own to address
historic contamination. However, there can be no assurance that these remediation activities have addressed all historic
contamination. Environmental liabilities that we incur, including those relating to the&nbsp;off-site&nbsp;disposal of our wastes,
if not covered by adequate insurance or indemnification, will increase our costs and have a negative impact on our
profitability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 18pt 0 0; text-align: justify; background-color: white"></P>

<!-- Field: Page; Sequence: 18 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 18pt 0 0; text-align: justify; background-color: white"><B><I>The agreements
governing our outstanding debt contain various covenants that, among other things, limit our discretion in operating our business and
provide for certain minimum financial requirements.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">The
agreements governing our outstanding debt contain various covenants that, among other things, limit our management&#8217;s discretion
by restricting our ability to incur additional debt, enter into certain transactions with affiliates, make investments and other restricted
payments and create liens. Our failure to comply with these financial covenants and other covenants under our debt agreements could lead
to an event of default under the agreement governing any other indebtedness that we may have outstanding at the time, permitting the lenders
to accelerate all borrowings under such agreement and to foreclose on any collateral. In addition, any such events may make it more difficult
or costly for us to borrow additional funds in the future. Our failure to raise capital if and when needed could have a material adverse
effect on our results of operations and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #0D0D0D"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #0D0D0D"><B>Risks Related to the Ownership
of Our&nbsp;Common Stock</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #0D0D0D"><B><I>Future sales of shares of our
common stock in the public market or the issuance of other equity may adversely affect the market price of our common stock.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt; color: #0D0D0D">Sales of a substantial
number of shares of our common stock or other equity-related securities in the public market could depress the market price of our common
stock and impair our ability&nbsp;to raise capital through the sale of additional equity securities. We cannot predict the effect that
future sales of our common stock or other equity-related securities would have on the market price of our common stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #0D0D0D"><B><I>The stock price of our common
stock may be volatile or may decline regardless of our operating performance, and you may not be able to resell your shares at or above
the public offering price.</I></B></P>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt; color: #0D0D0D">The market price
of our common stock may be volatile. In addition, the trading volume in our common stock may fluctuate and cause significant price variations
to occur. The closing price of our common stock during the past 12 months ranged from a peak of $7.93 on April 30, 2021, to a low of $1.36
on October 29, 2020. If the market price of our common stock declines significantly, you may be unable to resell your shares at or above
the public offering price. We cannot assure you that the market price of our common stock will not fluctuate or decline significantly
in the future. Some of the factors that could negatively affect our share price or result in fluctuations in the price or trading volume
of our common stock include:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>actual or anticipated variations in our operating results, funds from operations, cash flows, liquidity or distributions;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>changes in our earnings estimates or those of analysts;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>publication of research reports about us or the railcar industry or sector in which we operate;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>actual or anticipated variations in our operating results, funds from operations, cash flows, liquidity or distributions;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>changes in market valuations of companies similar to us;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>adverse market reaction to any securities we may issue or additional debt it incurs in the future;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>additions or departures of key management personnel;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>actions by institutional stockholders;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>speculation in the press or investment community;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>continuing high levels of volatility in the credit markets;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the realization of any of the other risk factors included herein; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>general market and economic conditions.</TD></TR></TABLE>


<!-- Field: Page; Sequence: 19 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #0D0D0D"><B><I>We may issue additional common
stock resulting in stock ownership dilution, including pursuant to agreements with our primary lender. In the event of such stock issuances,
our primary lender may be able to exert significant control over matters subject to stockholder approval.<BR>
<BR>
</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 36pt; margin-right: 0; margin-left: 0; color: #0D0D0D">Future
dilution may occur due to additional future equity issuances and/or equity financing events by us, including any potential future restructuring
of our outstanding indebtedness. In addition, we may raise additional capital through the sale of equity or convertible debt securities,
which would further dilute the ownership interests of our stockholders. As of June 30, 2021, we had outstanding warrants to acquire 5,305,140
shares of our common stock, and stock options to purchase 1,102,252 shares of our common stock. If a significant number of such warrants
and stock options are exercised by the holders, the percentage of our common stock owned by our existing stockholders will be diluted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><FONT STYLE="color: #0D0D0D">Pursuant
to that certain term loan credit agreement, as amended, by and among FreightCar North America, as borrower, the Company, as guarantor,
CO Finance LVS VI LLC (&#8220;Lender&#8221;), as lender, and U.S. Bank National Association, as disbursing agent and collateral agent
(the &#8220;Term Loan Credit Agreement&#8221;), the Company has issued to an affiliate of Lender a warrant to purchase a number of shares
of the Company&#8217;s common stock equal to 23% of the outstanding common stock on a fully-diluted basis at the time the warrant is exercised
(after giving effect to such issuance) (the &#8220;Initial Warrant&#8221;). Additionally, if the Company does not comply with certain
covenants set forth in the Term Loan Credit Agreement, the Company will have to issue an additional warrant (the &#8220;Additional Warrant&#8221;)
to purchase a number of shares of the Company&#8217;s common stock equal to 5% of the Company&#8217;s outstanding common stock on a fully-diluted
basis at the time the Additional Warrant is exercised (after giving effect to such issuance). To the extent the Initial Warrant and Additional
Warrant are exercised, the warrantholder may become a substantial stockholder of the Company and would be able to exert significant control
over matters subject to stockholder approval. In addition, on July 30, 2021, the Company entered into an amendment to the Term Loan Credit
Agreement, pursuant to which the Company may be obligated to make quarterly issuances of common stock to the Lender, or an affiliate thereof,
in an aggregate amount equal to up to 9.99% of the amount of Company common stock outstanding as of July 30, 2021</FONT><FONT STYLE="background-color: white">.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #0D0D0D"><B><I>We may not be able to satisfy
listing requirements of Nasdaq Capital Market to maintain a listing of our common stock.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt; color: #0D0D0D">We must meet certain
financial and liquidity criteria to maintain the listing of our common stock on the Nasdaq Capital Market. If we violate Nasdaq Capital
Market listing requirements, our common stock may be delisted. If we fail to meet any of the Nasdaq Capital Market listing standards,
our common stock may be delisted. In addition, our board may determine that the cost of maintaining our listing on a national securities
exchange outweighs the benefits of such listing. A delisting of our common stock from Nasdaq Capital Market may materially impair our
stockholders&#8217; ability to buy and sell our common stock and could have an adverse effect on the market price of, and the efficiency
of the trading market for, our common stock. In addition, the delisting of our common stock could significantly impair our ability to
raise capital.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #0D0D0D"><B><I>If securities or industry analysts
do not publish research, or publish inaccurate or unfavorable research, about our business, our stock price and trading volume could decline.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt; color: #0D0D0D">The trading market
for our common stock will depend in part on the research and reports that securities or industry analysts publish about us and our business.
If few analysts commence coverage of us, or if analysts cease coverage of us, the trading price for our common stock would be negatively
affected. If one or more of the analysts who cover us downgrade our common stock or publish inaccurate or unfavorable research about our
business, the price for our common stock would likely decline. If one or more of these analysts cease coverage of us or fail to publish
reports on us regularly, demand for our common stock could decrease, which might cause the price and trading volume for our common stock
to decline.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0; color: #0D0D0D"><B><I>A possible
&#8220;short squeeze&#8221; due to a sudden increase in demand of our common stock that largely exceeds supply may lead to further price
volatility in our common stock.</I></B></P>


<!-- Field: Page; Sequence: 20 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 36pt; margin-right: 0; margin-left: 0; color: #0D0D0D">Investors
may purchase our common stock to hedge existing exposure in our common stock or to speculate on the price of our common stock. Speculation
on the price of our common stock may involve long and short exposures. To the extent aggregate short exposure exceeds the number of shares
of our common stock available for purchase in the open market, investors with short exposure may have to pay a premium to repurchase our
common stock for delivery to lenders of our common stock. Those repurchases may in turn, dramatically increase the price of our common
stock until investors with short exposure are able to purchase additional common shares to cover their short position. This is often referred
to as a &#8220;short squeeze.&#8221; A short squeeze could lead to volatile price movements in our common stock that are not directly
correlated to the performance or prospects of our company and once investors purchase the shares of common stock necessary to cover their
short position the price of our common stock may decline.</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 36pt; margin-right: 0; margin-left: 0; color: #0D0D0D">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 36pt; margin-right: 0; margin-left: 0; color: #0D0D0D">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 36pt; margin-right: 0; margin-left: 0; color: #0D0D0D">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 36pt; margin-right: 0; margin-left: 0; color: #0D0D0D">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 36pt; margin-right: 0; margin-left: 0; color: #0D0D0D">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 36pt; margin-right: 0; margin-left: 0; color: #0D0D0D">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 36pt; margin-right: 0; margin-left: 0; color: #0D0D0D">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 36pt; margin-right: 0; margin-left: 0; color: #0D0D0D">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 36pt; margin-right: 0; margin-left: 0; color: #0D0D0D">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 36pt; margin-right: 0; margin-left: 0; color: #0D0D0D">&nbsp;</P>


<!-- Field: Page; Sequence: 21 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><A NAME="cautionary"></A>CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">This prospectus, including
the sections titled &#8220;Prospectus Summary&#8221; and &#8220;Risk Factors,&#8221; contains forward-looking statements. Forward-looking
statements convey our current expectations or forecasts of future events. All statements contained in this prospectus other than statements
of historical fact are forward-looking statements. Forward-looking statements include statements regarding our future financial position,
business strategy, budgets, projected costs, plans and objectives of management for future operations. The words &#8220;may,&#8221; &#8220;continue,&#8221;
&#8220;estimate,&#8221; &#8220;intend,&#8221; &#8220;plan,&#8221; &#8220;will,&#8221; &#8220;believe,&#8221; &#8220;project,&#8221; &#8220;expect,&#8221;
&#8220;could,&#8221; &#8220;would,&#8221; &#8220;anticipate&#8221; and similar expressions may identify forward-looking statements, but
the absence of these words does not necessarily mean that a statement is not forward-looking.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">You should not rely on forward-looking
statements as predictions of future events or results. Any or all of our forward-looking statements in this prospectus may turn out to
be inaccurate. We have based these forward-looking statements largely on our current expectations and projections about future events
and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs.
They may be affected by inaccurate assumptions we might make or by known or unknown risks and uncertainties, including the risks, uncertainties
and assumptions described in &#8220;Risk Factors.&#8221; In light of these risks, uncertainties and assumptions, the forward-looking events
and circumstances discussed in this prospectus may not occur as contemplated, and actual results could differ materially from those anticipated
or implied by the forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">These forward-looking statements
speak only as of the date of this prospectus. In evaluating these statements, you should consider various factors, including the risks
described in or incorporated by reference into this prospectus under &#8220;Risk Factors&#8221; and elsewhere. These factors may cause
our actual results to differ materially from any forward-looking statement. In addition, new factors emerge from time to time and it is
not possible for us to predict all factors that may cause actual results to differ materially from those contained in any forward-looking
statements. Unless required by law, we undertake no obligation to publicly update or revise any forward-looking statements to reflect
new information or future events or otherwise. You should, however, review the factors and risks we describe in the reports we will file
from time to time with the SEC after the date of this prospectus. See &#8220;Where You Can Find More Information.&#8221;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">As described in &#8220;Documents
Incorporated by Reference&#8221; below, certain documents filed by us in the future with the SEC are automatically deemed to be incorporated
by reference into this prospectus. Such documents may include forward-looking statements. To the extent they do, the previous three paragraphs
apply to such forward-looking statements as well, except that such other documents&#8217; forward-looking statements shall be deemed to
speak only as of the filing date of the applicable other document.</P>


<!-- Field: Page; Sequence: 22 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="useofproducts"></A><B>USE OF PROCEEDS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">We will retain broad discretion
over the use of net proceeds to us from the sale of our securities offered hereby. Unless we state otherwise in any accompanying prospectus
supplement, we intend to use the net proceeds from the sale of the securities offered pursuant to the Offering by this prospectus for
capital expenditures, possible future acquisitions, and general corporate and working capital purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">General corporate purposes
may include, but are not limited to:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the financing of possible acquisitions or business expansion;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">capital expenditures; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the repayment or refinancing of debt.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 36pt; margin-right: 0; margin-left: 0">The net proceeds from the sale
of securities may be invested temporarily or applied to repay short-term debt until they are used for their stated purpose. When particular
securities are offered, we will describe in the applicable prospectus supplement our intended use for the net proceeds received from the
sale of such securities.</P>


<!-- Field: Page; Sequence: 23 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><A NAME="dofsec"></A>DESCRIPTION OF SECURITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><I>Description of Capital Stock</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">The
following descriptions of our capital stock does not purport to be complete and is qualified in its entirety by reference to our certificate
of ownership and merger (as amended, our &#8220;charter&#8221;) and our third amended and restated bylaws (our &#8220;bylaws&#8221;, and
together with our charter, our &#8220;organizational documents&#8221;), each of which is incorporated by reference as an exhibit to the
registration statement of which this prospectus forms a part.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><A NAME="dofcap"></A>DESCRIPTION
OF Common Stock</P>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><font style="font-size: 10pt">Under
our charter, our&nbsp;authorized capital stock consists of&nbsp;50,000,000&nbsp;shares of common stock, $0.01 par value per share, and&nbsp;2,500,000&nbsp;shares
of preferred stock, $0.01 par value per share. &nbsp;As of August </font>9<font style="font-size: 10pt">, 2021, there were&nbsp;15,724,922
shares of&nbsp;FreightCar&nbsp;common stock outstanding. All outstanding shares of&nbsp;FreightCar&nbsp;common stock are duly authorized,
validly issued, fully paid and non-assessable.&nbsp;We have no shares of preferred stock issued or outstanding.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><font style="font-size: 10pt">&nbsp;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><font style="font-size: 10pt">Our
common stock is listed on the&nbsp;Nasdaq Global Market&nbsp;under the symbol &#8220;RAIL.&#8221;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><font style="font-size: 10pt">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><I>Voting Rights. &nbsp;</I>The
holders of our common stock vote together with any holders of voting preferred stock as a class on all matters submitted to a vote of
stockholders, with each share having one vote, except for those matters exclusively affecting the preferred stock. Holders of our common
stock have voting rights in the election of directors.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><I>Dividend Rights</I>. &nbsp;Holders
of our common stock are entitled to receive dividends as may be lawfully declared from time to time by our board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;<I>&#65279;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><I>Liquidation Rights</I>. &nbsp;In
the event of our liquidation, dissolution or winding-up, the holders of our common stock are entitled to share equally in our assets,
if any remain after the payment of all our debts and liabilities and the liquidation preference of any outstanding preferred shares.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"><i>Other</i>. &nbsp;Holders of common stock have no&nbsp;preemptive
rights or other rights to subscribe for additional common stock and no rights of redemption, conversion or exchange.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>Provisions of the&nbsp;Charter&nbsp;and Bylaws that&nbsp;May&nbsp;Have
an Anti-Takeover Effect</b></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">Certain provisions in our&nbsp;charter&nbsp;and
our&nbsp;bylaws, as well as Delaware General Corporation Law (the &#8220;DGCL&#8221;), may have the effect of discouraging transactions
that involve an actual or threatened change in control of&nbsp;FreightCar. In addition, provisions of the&nbsp;charter,&nbsp;the&nbsp;bylaws&nbsp;and
the DGCL may be deemed to have an anti-takeover effect and may delay, deter or prevent a tender offer or takeover attempt that a stockholder
might consider to be in its best interests.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><i>Classified Board</i>. Our charter
provides that our board of directors is divided into three classes of directors, with the classes as nearly equal in number as possible.
As a result, approximately one-third of our board of directors is elected each year. The classification of directors has the effect of
making it more difficult for stockholders to change the composition of our board. Our&nbsp;charter&nbsp;provides that the number of directors
will be fixed in the manner provided in the bylaws. Our organizational documents provide that the number of directors will be fixed from
time to time solely pursuant to a resolution adopted by the board, but must&nbsp;consist of not less than five nor&nbsp;more than 15
directors.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><i>No Cumulative Voting</i>. &nbsp;Delaware
law provides that stockholders are not entitled&nbsp;to the right to cumulative voting&nbsp;in the election of directors unless our&nbsp;charter&nbsp;provides
otherwise. Our&nbsp;charter&nbsp;does not expressly provide for cumulative voting.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><i>Special Meetings of Stockholders</i>. &nbsp;The&nbsp;board
of directors or the&nbsp;chairman of the board&nbsp;of&nbsp;directors&nbsp;may call a special meeting of stockholders at any time and
for any purpose, but no stockholder or other person may call any such special meeting or require that the board of directors call such
special meeting.&nbsp;</P>


<!-- Field: Page; Sequence: 24 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#65279;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><i>No Written Consent of Stockholders</i>.
Any action taken by our stockholders must be effected at a duly held meeting of stockholders and may not be effected by the written consent
of such stockholders.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><i>Advance Notice of Stockholder
Action at a Meeting</i>. Stockholders seeking to nominate directors or to bring business before a stockholder meeting must comply with
certain timing requirements and submit certain information to us in advance of such meeting. <font style="background-color: white">Our&nbsp;bylaws&nbsp;provide
that nominations for the election of directors at our annual meeting may be made by our board of directors or any stockholder entitled
to vote for the election of directors generally who complies with the procedures set forth in the&nbsp;by-laws&nbsp;and who is a stockholder
of record at the time notice is delivered to us. Any stockholder entitled to vote in the election of directors generally may nominate
a person for election to the board of directors at our annual meeting only if timely notice of such stockholder&#8217;s intent to make
such nomination has been given in writing to our Secretary at our offices at 125 South Wacker Drive, Suite 1500, Chicago, Illinois 60606.
Any recommendations received from stockholders will be evaluated by the nominating and corporate governance committee in the same manner
that potential director nominees suggested by board members, management or other parties are evaluated. To be timely, a stockholder&#8217;s
notice shall be delivered to or mailed and received at our principal executive offices not less than 90 nor more than 120 days prior
to the first anniversary of our previous year&#8217;s annual meeting; provided, however, that in the event less than 30 days&#8217; notice
or prior public disclosure of the date of the meeting is given or made to stockholders, notice by the stockholder to be timely must be
so received not later than the close of business on the 10th day following the day on which such notice of the date of the meeting was
mailed or such public disclosure was made.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><font style="background-color: white">&nbsp;</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><i>Authorized but Unissued Capital
Stock</i>. &nbsp;Delaware law does not require stockholder approval for any issuance of authorized shares. However, the listing requirements
of the Nasdaq Global&nbsp;Market, which would apply so long as our common stock is&nbsp;listed&nbsp;on the Nasdaq&nbsp;Global&nbsp;Market,
require stockholder approval of&nbsp;certain issuances equal to or in excess of 20% of the voting power or the number of shares of common
stock. These additional shares may be used&nbsp;for a variety of corporate purposes, including future public offerings, to raise additional
capital or to facilitate acquisitions.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">One of the effects of the existence
of unissued and unreserved common stock or preferred stock may be to enable our board of directors to issue&nbsp;shares to persons friendly
to current management, which issuance could render more difficult or discourage an attempt to obtain control of our&nbsp;company by means
of a merger, tender offer, proxy contest or otherwise, and thereby protect the continuity of our management and possibly&nbsp;deprive
the stockholders of opportunities to sell their shares of common stock at prices higher than prevailing market prices.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><i>Business Combinations</i>.
We are subject to the provisions of Section 203 of the DGCL. Subject to certain exceptions, Section 203 prohibits a publicly held Delaware
corporation from engaging in a business combination with an interested stockholder for a period of three years after the person becomes
an interested stockholder, unless the interested stockholder attained such status with the approval of&nbsp;FreightCar&#8217;s board
of directors or the business combination is approved in a prescribed manner. A business combination includes, among other things, a merger
or consolidation involving&nbsp;FreightCar&nbsp;and the interested stockholder and the sale of more than 10% of&nbsp;FreightCar&#8217;s
assets. In general, an interested stockholder is an entity or person beneficially owning 15% or more of&nbsp;FreightCar&#8217;s outstanding
voting stock and any entity or person affiliated with or controlling or controlled by such entity or person.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>Elimination of Liability in Certain Circumstances</b></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">Our&nbsp;charter&nbsp;eliminates
the liability of our directors to us or our stockholders for monetary damages resulting from breaches of their fiduciary duties as directors.
Directors remain liable for breaches of their duty of loyalty to us or our stockholders, as well as for acts or omissions not in good
faith or that involve intentional misconduct or a knowing violation of law, and transactions from which a director derives improper personal
benefit. Our charter does not absolve directors of liability for payment of dividends or stock purchases or redemptions by us in violation
of Section 174 (or any successor provision)&nbsp;of the&nbsp;DGCL.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">The effect of this provision
is to eliminate the personal liability of directors for monetary damages for actions involving a breach of their fiduciary duty of
care, including any such actions involving gross negligence. We do not believe that this provision eliminates the liability of our
directors to us or our stockholders for monetary damages under the federal securities laws. The charter and bylaws also provide
indemnification for the benefit of our directors and officers to the fullest extent permitted by the&nbsp;DGCL&nbsp;as it may be
amended from time to time, including most circumstances under which indemnification otherwise would be discretionary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#65279;</B></P>

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

<!-- Field: Page; Sequence: 25 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><B><BR>
Directors Removed Only for Cause</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt; background-color: white">Our charter provides that a
director may be removed only for cause and at a meeting of stockholders called expressly for that purpose, upon the affirmative vote of
holders of a majority of the voting power of all the then outstanding shares of capital stock entitled to vote generally in the election
of directors, voting together as a single class. Cause for removal shall be deemed to exist only if the director whose removal is proposed
has engaged in criminal conduct or has engaged in fraudulent or dishonest conduct or gross abuse of authority or discretion with respect
to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 18pt 0 0; background-color: white"><B>Dissenters&#8217; Rights of Appraisal
and Payment</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">Under
the DGCL, with certain exceptions, our stockholders have appraisal rights in connection with a merger or consolidation. Pursuant to the
DGCL, stockholders who properly request and perfect appraisal rights in connection with such merger or consolidation will have the right
to receive payment of the fair value of their shares as determined by the Delaware Court of Chancery.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 18pt 0 0; background-color: white"><B>Stockholders&#8217; Derivative Actions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">Under
the DGCL, any of our stockholders may bring an action in our name to procure a judgment in our favor, also known as a derivative action;
provided that the stockholder bringing the action is a holder of our shares at the time of the transaction to which the action relates
or such stockholder&#8217;s stock thereafter devolved by operation of law and such suit is brought in the Court of Chancery in the State
of Delaware.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10pt; text-indent: 26pt">The transfer agent and registrar for our common
stock is&nbsp;Computershare Trust Company, N.A.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: left"><FONT STYLE="text-transform: none">Listing</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">Our common stock is listed
on the NASDAQ Global Market under the symbol &#8220;RAIL.&#8221;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="dofpref"></A><B>DESCRIPTION OF <FONT STYLE="font-size: 10pt">PREFERRED
STOCK</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">We are authorized to issue
2,500,000 shares of preferred stock of $0.01 par value per share <FONT STYLE="background-color: white">(the &#8220;Preferred Stock&#8221;).
Of the 2,500,000 shares of authorized Preferred Stock, 100,000 shares is designated as Series A Voting Preferred Stock (the &#8220;Voting
Preferred Stock&#8221;) and 100,000 shares is designated as Series B Non-Voting Preferred Stock (the &#8220;Non-Voting Preferred Stock&#8221;).
The remaining 2,300,000 shares of Preferred Stock are undesignated Preferred Stock. Our board of directors is expressly authorized to
establish from the undesignated shares of Preferred Stock, by resolution adopted and filed in the manner provided by law, one or more
classes or series of Preferred Stock, to designate each such class or series and to fix the relative rights and preferences of each such
class or series</FONT>. As of August 9, 2021, there were no shares of our Preferred Stock issued or outstanding. We may amend from time
to time our charter to increase the number of authorized shares of Preferred Stock. Any such amendment would require the approval of the
holders of a majority of our shares entitled to vote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 36pt; background-color: white">The statement of the
designations, relative rights, preferences and limitations of the shares of each class is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 36pt; background-color: white"><I>Voting Rights. &nbsp;</I>Holders
of our common stock and Voting Preferred Stock shall vote together as a class on all matters submitted to a vote of stockholders (except
that holders of the Voting Preferred Stock shall have the right to vote together as a class on matters exclusively affecting the Preferred
Stock), and shall have one vote per share, but which shall not have any cumulative voting rights in the election of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#65279;</P>


<!-- Field: Page; Sequence: 26 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 0 0; text-indent: 36pt; background-color: white"><I>Dividend Rights</I>.
&nbsp;The holders of both the Voting Preferred Stock and the Non-Voting Preferred Stock, on a&nbsp;<I>pari passu&nbsp;</I>basis, shall
be entitled to an annual dividend at the rate of seventeen percent (17%)&nbsp;per share, payable out of the funds legally available for
such purposes before any dividends are declared upon our common stock or any other shares of our capital stock ranking in liquidation
junior to the Voting Preferred Stock and the Non-Voting Preferred Stock, which right to receive dividends shall be cumulative, and the
holders of the Voting Preferred Stock and the Non-Voting Preferred Stock shall be entitled to no further dividends or distributions. Dividends
on shares of the Voting Preferred Stock shall accrue and be deemed to have accrued from the applicable original issuance date of the shares
of the Series A Voting Preferred Stock, par value $500 per share, of FreightCar America, Inc. (&#8220;Parent&#8221;) that were converted,
on a one-for-one basis, for shares of the Voting Preferred Stock in the merger of Parent with and into us (the &#8220;Merger&#8221;).
Dividends on shares of the Non-Voting Preferred Stock shall accrue and be deemed to have accrued from the applicable original issuance
date of the shares of the Series B Non-Voting Preferred Stock, par value $500 per share, of Parent that were converted, on a one-for-one
basis, for shares of the Non-Voting Preferred Stock in the Merger. Such dividends shall accrue and shall be deemed to have accrued day
to day whether or not declared and shall be cumulative, but no interest shall accrue on accrued but unpaid dividends. Payment of accrued
dividends shall be in the discretion of our board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 36pt; background-color: white">As long as any shares
of the Voting Preferred Stock or the Non-Voting Preferred Stock are outstanding, we will not declare, pay or set aside for payment any
dividends on our common stock or any other class of preferred capital stock, nor declare or make any other distribution upon our common
stock, nor redeem, purchase or otherwise acquire for consideration our common stock if (a)&nbsp;we have not declared and paid all the
accumulated accrued but unpaid dividends on the Voting Preferred Stock and the Non-Voting Preferred Stock, and (b)&nbsp;our net assets
remaining after the transaction are less than the aggregate amount of the preferences of the outstanding shares of the Voting Preferred
Stock and the Non-Voting Preferred Stock in our assets upon liquidation.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 36pt; background-color: white"><i>Liquidation Rights</i>.
&nbsp;<font style="background-color: white">In the event of our dissolution, liquidation or winding-up, the holders of the Voting Preferred
Stock and the Non-Voting Preferred Stock shall be entitled to receive, sharing&nbsp;<i>pari passu</i>, out of our assets available for
distribution to our stockholders, whether from capital, surplus or earnings, an amount equal to $500 per share plus accumulated accrued
but unpaid dividends thereon before any distribution of the assets shall be made to the holders of our Voting Common Stock, the Non-Voting
Common Stock or any other capital stock. Upon payment of such amounts, the holders of the Voting Preferred Stock and the Non-Voting Preferred
Stock shall be entitled to no further distribution. If, upon our dissolution, liquidation or winding-up, the assets distributable among
the holders of the Voting Preferred Stock and the Non-Voting Preferred Stock, sharing&nbsp;<i>pari passu,&nbsp;</i>shall be insufficient
to permit payment in full to the holders of the Voting Preferred Stock and the Non-Voting Preferred Stock, sharing&nbsp;<i>pari passu,&nbsp;</i>payable
in such event, the entire assets shall be distributed among the holders of the Voting Preferred Stock and the Non-Voting Preferred Stock
ratably according to the amount of the full liquidation preference of the respective number of shares of the Voting Preferred Stock and
the Non-Voting Preferred Stock held by them. No consolidation or merger of our company with one or more corporations or other entities,
nor any sale or transfer of all or any part of the assets of our company, shall be deemed to be a dissolution, liquidation or winding-up
of our company</font>.<i>&#65279;</i></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"><I>Redemption</I>. We may redeem the Voting Preferred
Stock and the Non-Voting Preferred Stock at any time and at a price of $500 per share plus accumulated accrued but unpaid dividends thereon.
We may, at the option of our board of directors, redeem all or any part of the outstanding Voting Preferred Stock and/or the Non-Voting
Preferred Stock. If less than all of the outstanding shares of the Voting Preferred Stock and the Non-Voting Preferred Stock are to be
redeemed at one time, the shares to be redeemed shall be selected on a pro rata basis, among the holders of the Voting Preferred Stock
and the Non-Voting Preferred Stock as a group, in proportion to their holdings on the date of redemption. Notice of redemption shall be
mailed at least ten (10) days and not more than sixty (60) days prior to such redemption to the holders of record of the Voting Preferred
Stock and the Non-Voting Preferred Stock</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"><I>Other</I>. &nbsp;Holders of our common stock have
no&nbsp;preemptive rights or other rights to subscribe for additional common stock and no rights of redemption, conversion or exchange.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-indent: 36pt; background-color: white">Our charter provides
that our board of directors has the authority, without action by the stockholders, to designate and issue up to 2,300,000 shares of preferred
stock in one or more classes or series and to fix the powers, rights, preferences and privileges of each class or series of preferred
stock, including dividend rights, conversion rights, voting rights, terms of redemption, liquidation preferences and the number of shares
constituting any class or series, which may be greater than the rights of the holders of the common stock.</P>


<!-- Field: Page; Sequence: 27 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt; background-color: white">The purpose of authorizing
our 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 flexibility in connection with possible acquisitions, future
financings and other corporate purposes, could have the effect of making it more difficult for a third party to acquire, or could discourage
a third party from seeking to acquire, a majority of our outstanding voting stock. Additionally, the issuance of preferred stock may adversely
affect the holders of our common stock by restricting dividends on the common stock, diluting the voting power of the common stock or
subordinating the liquidation rights of the common stock. As a result of these or other factors, the issuance of preferred stock could
have an adverse impact on the market price of our common stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt; background-color: white">The particular terms of any
series of preferred stock that we offer under this prospectus will be described in the applicable prospectus supplement relating to that
series of preferred stock. Those terms may include:</P>

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

<UL STYLE="font-family: Times New Roman, Times, Serif; margin-top: 0cm; list-style-type: disc">

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">the title and liquidation preference per share of the preferred stock
and the number of shares offered;</LI>

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">the purchase price of the preferred stock;</LI>

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">the dividend rate (or method of calculation), the dates on which dividends
will be payable, whether dividends shall be cumulative and, if so, the date from which dividends will begin to accumulate;</LI>

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">any redemption or sinking fund provisions of the preferred stock;</LI>

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">any conversion, redemption or exchange provisions of the preferred
stock;</LI>

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">the voting rights, if any, of the preferred stock; and</LI>

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">any additional dividend, liquidation, redemption, sinking fund and
other rights, preferences, privileges, limitations and restrictions of the preferred stock.</LI>

</UL>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 36pt; background-color: white">You should refer to
the certificate of designations establishing a particular series of preferred stock which will be filed with the Secretary of State of
the State of Delaware and the SEC in connection with any offering of preferred stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 36pt; background-color: white">Each prospectus supplement
relating to a series of preferred stock may describe certain U.S. federal income tax considerations applicable to the purchase, holding
and disposition of such series of preferred stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 36pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><A NAME="dofdebt"></A>DESCRIPTION OF DEBT SECURITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">We may issue debt securities,
in one or more series, as either senior or subordinated debt or as senior or subordinated convertible debt. When we offer to sell debt
securities, we will describe the specific terms of any debt securities offered from time to time in a supplement to this prospectus, which
may supplement or change the terms outlined below. Senior debt securities will be issued under one or more senior indentures, dated as
of a date prior to such issuance, between us and a trustee to be named in a prospectus supplement, as amended or supplemented from time
to time. Any subordinated debt securities will be issued under one or more subordinated indentures, dated as of a date prior to such issuance,
between us and a trustee to be named in a prospectus supplement, as amended or supplemented from time to time. The indentures will be
subject to and governed by the Trust Indenture Act of 1939, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">Before we issue any debt
securities, the form of indentures will be filed with the SEC and incorporated by reference as an exhibit to the registration statement
of which this prospectus is a part or as an exhibit to a current report on Form 8-K. For the complete terms of the debt securities, you
should refer to the applicable prospectus supplement and the form of indentures for those particular debt securities. We encourage you
to read the applicable prospectus supplement and the form of indenture for those particular debt securities before you purchase any of
our debt securities.</P>


<!-- Field: Page; Sequence: 28 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">We will describe in the
applicable prospectus supplement the terms of the series of debt securities being offered, including:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the title;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">whether or not such debt securities are guaranteed;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the principal amount being offered, and if a series, the total amount authorized and the total amount
outstanding;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">any limit on the amount that may be issued;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">whether or not we will issue the series of debt securities in global form, the terms and who the depositary
will be;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the maturity date;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the annual interest rate, which may be fixed or variable, or the method for determining the rate and the
date interest will begin to accrue, the dates interest will be payable and the regular record dates for interest payment dates or the
method for determining such dates;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">whether or not the debt securities will be secured or unsecured, and the terms of any secured debt;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the terms of the subordination of any series of subordinated debt;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the place where payments will be payable;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">restrictions on transfer, sale or other assignment, if any;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">our right, if any, to defer payment of interest and the maximum length of any such deferral period;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the date, if any, after which, and the price at which, we may, at our option, redeem the series of debt
securities pursuant to any optional or provisional redemption provisions and the terms of those redemption provisions;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the date, if any, on which, and the price at which we are obligated, pursuant to any mandatory sinking
fund or analogous fund provisions or otherwise, to redeem, or at the holder&#8217;s option to purchase, the series of debt securities
and the currency or currency unit in which the debt securities are payable;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">any restrictions our ability and/or the ability of our subsidiaries to:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">incur additional indebtedness;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">issue additional securities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">create liens;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">pay dividends and make distributions in respect of our capital stock and the capital stock of our subsidiaries;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">redeem capital stock;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">place restrictions on our subsidiaries&#8217; ability to pay dividends, make distributions or transfer
assets;</TD></TR></TABLE>


<!-- Field: Page; Sequence: 29 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">make investments or other restricted payments;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">sell or otherwise dispose of assets;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">enter into sale-leaseback transactions;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">engage in transactions with stockholders and affiliates;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">issue or sell stock of our subsidiaries; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">effect a consolidation or merger;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">whether the indenture will require us to maintain any interest coverage, fixed charge, cash flow-based,
asset-based or other financial ratios;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">a discussion of any material United States federal income tax considerations applicable to the debt securities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">information describing any book-entry features;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">provisions for a sinking fund purchase or other analogous fund, if any;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the denominations in which we will issue the series of debt securities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the currency of payment of debt securities if other than U.S. dollars and the manner of determining the
equivalent amount in U.S. dollars; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">any other specific terms, preferences, rights or limitations of, or restrictions on, the debt securities,
including any additional events of default or covenants provided with respect to the debt securities, and any terms that may be required
by us or advisable under applicable laws or regulations.</TD></TR></TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">We will set forth in the
prospectus supplement the terms on which a series of debt securities may be convertible into or exchangeable for our common stock or our
other securities. We will include provisions as to 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 or our other securities that the holders
of the series of debt securities receive would be subject to adjustment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="dofwarrants"></A><B>DESCRIPTION OF WARRANTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">We may issue warrants for
the purchase of common stock, preferred stock and/or debt securities in one or more series. We may issue warrants independently or together
with common stock, preferred stock and/or debt securities, and the warrants may be attached to or separate from these securities. While
the terms summarized below will apply generally to any warrants that we may offer, we will describe the particular terms of any series
of warrants in more detail in the applicable prospectus supplement. The terms of any warrants offered under a prospectus supplement may
differ from the terms described below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">We will file as exhibits
to the registration statement of which this prospectus is a part, or will incorporate by reference from reports that we file with the
SEC, the form of warrant agreement, including a form of warrant certificate, that describes the terms of the particular series of warrants
we are offering before the issuance of the related series of warrants. The following summaries of material provisions of the warrants
and the warrant agreements are subject to, and qualified in their entirety by reference to, all the provisions of the warrant agreement
and warrant certificate applicable to the particular series of warrants that we may offer under this prospectus. We urge you to read
the applicable prospectus supplements related to the particular series of warrants that we may offer under this prospectus, as well as
any related free writing prospectuses, and the complete warrant agreements and warrant certificates that contain the terms of the warrants.</P>

<!-- Field: Page; Sequence: 30 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>General</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 12pt; text-align: justify; text-indent: 30pt">We will describe in the
applicable prospectus supplement the terms of the series of warrants being offered, including:</P>

<UL STYLE="font-family: Times New Roman, Times, Serif; margin-top: 0cm; list-style-type: disc">

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">the offering price and aggregate number of warrants offered;</LI>

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">the currency for which the warrants may be purchased;</LI>

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">if applicable, the designation and terms of the securities with which
the warrants are issued and the number of warrants issued with each such security or each principal amount of such security;</LI>

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">if applicable, the date on and after which the warrants and the related
securities will be separately transferable;</LI>

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">in the case of warrants to purchase debt securities, the principal
amount of debt securities purchasable upon exercise of one warrant and the price at, and currency in which, this principal amount of debt
securities may be purchased upon such exercise;</LI>

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">in the case of warrants to purchase common stock or preferred stock,
the number of shares of common stock or preferred stock, as the case may be, purchasable upon the exercise of one warrant and the price
at which these shares may be purchased upon such exercise;</LI>

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">the effect of any merger, consolidation, sale or other disposition
of our business on the warrant agreements and the warrants;</LI>

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">the terms of any rights to redeem or call the warrants;</LI>

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">any provisions for changes to or adjustments in the exercise price
or number of securities issuable upon exercise of the warrants;</LI>

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">the dates on which the right to exercise the warrants will commence
and expire;</LI>

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">the manner in which the warrant agreements and warrants may be modified;</LI>

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">a discussion of any material or special United States federal income
tax consequences of holding or exercising the warrants;</LI>

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">the terms of the securities issuable upon exercise of the warrants;
and</LI>

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">any other specific terms, preferences, rights or limitations of or
restrictions on the warrants.</LI>

</UL>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 12pt; text-align: justify; text-indent: 30pt">Before exercising their
warrants, holders of warrants will not have any of the rights of holders of the securities purchasable upon such exercise, including:</P>

<UL STYLE="font-family: Times New Roman, Times, Serif; margin-top: 0cm; list-style-type: disc">

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">in the case of warrants to purchase debt securities, the right to receive
payments of principal of, or premium, if any, or interest on, the debt securities purchasable upon exercise or to enforce covenants in
the applicable indenture; or</LI>

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">in the case of warrants to purchase common stock or preferred stock,
the right to receive dividends, if any, or payments upon our liquidation, dissolution or winding up or to exercise voting rights, if any.</LI>

</UL>


<!-- Field: Page; Sequence: 31 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">Each warrant will entitle
the holder to purchase the securities that we specify in the applicable prospectus supplement at the exercise price that we describe in
the applicable prospectus supplement. Holders of the warrants may exercise the warrants at any time up to the specified time on the expiration
date that we set forth in the applicable prospectus supplement. After the close of business on the expiration date, unexercised warrants
will become void.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">Holders of the warrants
may exercise the warrants by delivering the warrant certificate representing the warrants to be exercised together with specified information,
and paying the required amount to the warrant agent in immediately available funds, as provided in the applicable prospectus supplement.
We will set forth on the reverse side of the warrant certificate and in the applicable prospectus supplement the information that the
holder of the warrant will be required to deliver to the warrant agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">If fewer than all of the
warrants represented by the warrant certificate are exercised, then we will issue a new warrant certificate for the remaining amount of
warrants. If we so indicate in the applicable prospectus supplement, holders of the warrants may surrender securities as all or part of
the exercise price for warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="dofrights"></A><B>DESCRIPTION OF RIGHTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">We may issue rights to purchase
our common stock, preferred stock or debt securities, in one or more series. Rights may be issued independently or together with any other
offered security and may or may not be transferable by the person purchasing or receiving the subscription rights. In connection with
any rights offering to our stockholders, we may enter into a standby underwriting arrangement with one or more underwriters pursuant to
which such underwriters will purchase any offered securities remaining unsubscribed after such rights offering. In connection with a rights
offering to our stockholders, we will distribute certificates evidencing the rights and a prospectus supplement to our stockholders on
the record date that we set for receiving rights in such rights offering. The applicable prospectus supplement or free writing prospectus
will describe the following terms of rights in respect of which this prospectus is being delivered:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the title of such rights;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the securities for which such rights are exercisable;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the exercise price for such rights;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the date of determining the security holders entitled to the rights distribution;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the number of such rights issued to each security holder;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the extent to which such rights are transferable;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">if applicable, a discussion of the material United States federal income tax considerations applicable
to the issuance or exercise of such rights;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the date on which the right to exercise such rights shall commence, and the date on which such rights
shall expire (subject to any extension);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the conditions to completion of the rights offering;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">any provisions for changes to or adjustments in the exercise price or number of securities issuable upon
exercise of the rights;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the extent to which such rights include an over-subscription privilege with respect to unsubscribed securities;</TD></TR></TABLE>


<!-- Field: Page; Sequence: 32 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">if applicable, the material terms of any standby underwriting or other purchase arrangement that we may
enter into in connection with the rights offering; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">any other terms of such rights, including terms, procedures and limitations relating to the exchange and
exercise of such rights.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">Each right will entitle
the holder thereof the right to purchase for cash such amount of common stock, preferred stock or debt securities, or any combination
thereof, at such exercise price as shall in each case be set forth in, or be determinable as set forth in, the prospectus supplement relating
to the rights offered thereby. Rights may be exercised at any time up to the close of business on the expiration date for such rights
set forth in the prospectus supplement. After the close of business on the expiration date, all unexercised rights will become void. Rights
may be exercised as set forth in the prospectus supplement relating to the rights offered thereby. Upon receipt of payment and the proper
completion and due execution of the rights certificate at the office of the rights agent, if any, or any other office indicated in the
prospectus supplement, we will forward, as soon as practicable, the shares of common stock and/or preferred stock and/or the debt securities
purchasable upon such exercise. We may determine to offer any unsubscribed offered securities directly to persons other than stockholders,
to or through agents, underwriters or dealers or through a combination of such methods, including pursuant to standby underwriting arrangements,
as set forth in the applicable prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><A NAME="dofunits"></A>DESCRIPTION OF UNITS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">As specified in the applicable
prospectus supplement, we may issue, in one more series, units consisting of common stock, preferred stock, debt securities and/or warrants
or rights for the purchase of common stock, preferred stock and/or the debt securities in any combination. The applicable prospectus supplement
will describe:</P>

<UL STYLE="font-family: Times New Roman, Times, Serif; margin-top: 0cm; list-style-type: disc">

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">the securities comprising the units, including whether and under what
circumstances the securities comprising the units may be separately traded;</LI>

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">the terms and conditions applicable to the units, including a description
of the terms of any applicable unit agreement governing the units; and</LI>

<LI STYLE="margin: 0 0 12pt; text-align: justify; font-size: 10pt">a description of the provisions for the payment, settlement, transfer
or exchange of the units.</LI>

</UL>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="planofdistro"></A><B>PLAN OF DISTRIBUTION</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">Pursuant to General Instruction
I.B.6. of Form S-3, we are permitted to utilize the registration statement of which this prospectus forms a part to sell a maximum amount
of common stock equal to one-third of the aggregate market value of the outstanding voting and non-voting common equity held by our non-affiliates
in any 12-month period. We may, from time to time, offer the common stock registered hereby up to this maximum amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">We may sell the securities
offered through this prospectus (i) to or through underwriters or dealers, (ii) directly to purchasers, including our affiliates, (iii)
through agents, (iv) in &#8220;at the market offerings,&#8221; within the meaning of Rule 415(a)(4) under the Securities Act, to or through
a market maker or into an existing trading market, on an exchange or otherwise, or (v) through a combination of any these methods. The
securities may be distributed at a fixed price or prices, which may be changed, market prices prevailing at the time of sale, prices related
to the prevailing market prices, or negotiated prices. The prospectus supplement will include the following information:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the terms of the offering;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the names of any underwriters or agents;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the name or names of any managing underwriter or underwriters;</TD></TR></TABLE>


<!-- Field: Page; Sequence: 33 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the purchase price of the securities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">any over-allotment options under which underwriters may purchase additional securities from us;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the net proceeds from the sale of the securities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">any delayed delivery arrangements;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">any underwriting discounts, commissions and other items constituting underwriters&#8217; compensation;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">any discounts or concessions allowed or reallowed or paid to dealers;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">any commissions paid to agents; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">any securities exchange or market on which the securities may be listed.</TD></TR></TABLE>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Sale Through Underwriters or Dealers</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">Only underwriters named
in any prospectus supplement are underwriters of the securities offered by such prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">If underwriters are used
in the sale, the underwriters will acquire the securities for their own account, including through underwriting, purchase, security lending
or repurchase agreements with us. The underwriters may resell the securities from time to time in one or more transactions, including
negotiated transactions. Underwriters may sell the securities in order to facilitate transactions in any of our other securities (described
in this prospectus or otherwise), including other public or private transactions and short sales. Underwriters may offer securities to
the public either through underwriting syndicates represented by one or more managing underwriters or directly by one or more firms acting
as underwriters. Unless otherwise indicated in the prospectus supplement, the obligations of the underwriters to purchase the securities
will be subject to certain conditions, and the underwriters will be obligated to purchase all the offered securities if they purchase
any of them. The underwriters may change from time to time any initial public offering price and any discounts or concessions allowed
or reallowed or paid to dealers.</P>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">If 5% of more of the net proceeds of any offering
of securities made under this prospectus will be received by FINRA members participating in the offering or affiliates or associated persons
of such FINRA members, the offering will be conducted in accordance with FINRA Rule 5121.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">If dealers are used in the
sale of securities offered through this prospectus, we will sell the securities to them as principals. They may then resell those securities
to the public at varying prices determined by the dealers at the time of resale. The prospectus supplement will include the names of the
dealers and the terms of the transaction.</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Direct Sales and Sales Through Agents</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">We may sell the securities
offered through this prospectus directly. In this case, no underwriters or agents would be involved. Such securities may also be sold
through agents designated from time to time. The prospectus supplement will name any agent involved in the offer or sale of the offered
securities and will describe any commissions payable to the agent. Unless otherwise indicated in the prospectus supplement, any agent
will agree to use its reasonable best efforts to solicit purchases for the period of its appointment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">We may sell the securities
directly to institutional investors or others who may be deemed to be underwriters within the meaning of the Securities Act with respect
to any sale of those securities. The terms of any such sales will be described in the prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt"></P>

<!-- Field: Page; Sequence: 34 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt"></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Delayed Delivery Contracts</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">If the prospectus supplement
indicates, we may authorize agents, underwriters or dealers to solicit offers from certain types of institutions to purchase securities
at the public offering price under delayed delivery contracts. These contracts would provide for payment and delivery on a specified date
in the future. The contracts would be subject only to those conditions described in the prospectus supplement. The applicable prospectus
supplement will describe the commission payable for solicitation of those contracts.</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Market Making, Stabilization and Other
Transactions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">Unless the applicable prospectus
supplement states otherwise, other than our common stock, all securities we offer under this prospectus will be a new issue and will have
no established trading market. We may elect to list offered securities on an exchange or in the over-the-counter market. Any underwriters
that we use in the sale of offered securities may make a market in such securities, but may discontinue such market making at any time
without notice. Therefore, we cannot assure you that the securities will have a liquid trading market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">Any underwriter may also
engage in stabilizing transactions, syndicate covering transactions and penalty bids in accordance with Rule 104 under the Exchange Act.
Stabilizing transactions involve bids to purchase the underlying security in the open market for the purpose of pegging, fixing or maintaining
the price of the securities. Syndicate covering transactions involve purchases of the securities in the open market after the distribution
has been completed in order to cover syndicate short positions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">In connection with an offering,
an underwriter may purchase and sell securities in the open market. These transactions may include short sales, stabilizing transactions
and purchases to cover positions created by short sales. Short sales involve the sale by the underwriters of a greater number of securities
than they are required to purchase in the offering. &#8220;Covered&#8221; short sales are sales made in an amount not greater than the
underwriters&#8217; option to purchase additional securities, if any, from us in the offering. If the underwriters have an over-allotment
option to purchase additional securities from us, the underwriters may close out any covered short position by either exercising their
over-allotment option or purchasing securities in the open market. In determining the source of securities to close out the covered short
position, the underwriters may consider, among other things, the price of securities available for purchase in the open market as compared
to the price at which they may purchase securities through the over-allotment option. &#8220;Naked&#8221; short sales are any sales in
excess of such option or where the underwriters do not have an over-allotment option. The underwriters must close out any naked short
position by purchasing securities in the open market. A naked short position is more likely to be created if the underwriters are concerned
that there may be downward pressure on the price of the securities in the open market after pricing that could adversely affect investors
who purchase in the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">Penalty bids permit the
underwriters to reclaim a selling concession from a syndicate member when the securities originally sold by the syndicate member are purchased
in a syndicate covering transaction to cover syndicate short positions. Stabilizing transactions, syndicate covering transactions and
penalty bids may cause the price of the securities to be higher than it would be in the absence of the transactions. The underwriters
may, if they commence these transactions, discontinue them at any time.</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Derivative Transactions and Hedging</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt">We and the underwriters may engage
in derivative transactions involving the securities. These derivatives may consist of short sale transactions and other hedging activities.
The underwriters may acquire a long or short position in the securities, hold or resell securities acquired and purchase options or futures
on the securities and other derivative instruments with returns linked to or related to changes in the price of the securities. In order
to facilitate these derivative transactions, we may enter into security lending or repurchase agreements with the underwriters. The underwriters
may effect the derivative transactions through sales of the securities to the public, including short sales, or by lending the securities
in order to facilitate short sale transactions by others. The underwriters may also use the securities purchased or borrowed from us or
others (or, in the case of derivatives, securities received from us in settlement of those derivatives) to directly or indirectly settle
sales of the securities or close out any related open borrowings of the securities.</P>

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

<!-- Field: Page; Sequence: 35 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Loans of Securities</P>




<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt"><FONT STYLE="font-style: normal">We
may loan or pledge securities to a financial institution or other third party that in turn may sell the securities using this prospectus
and an applicable prospectus supplement.</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">General Information</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">Agents, underwriters, and
dealers may be entitled, under agreements entered into with us, to indemnification by us against certain liabilities, including liabilities
under the Securities Act. Our agents, underwriters, and dealers, or their affiliates, may be customers of, engage in transactions with
or perform services for us, in the ordinary course of business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><A NAME="legalmatters"></A><B>LEGAL MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">The validity of the securities
offered by this prospectus will be passed upon for us by Winston &amp; Strawn LLP, New York, New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><A NAME="experts"></A>EXPERTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">The financial statements,
incorporated in this Prospectus by reference from the Company's Annual Report on Form 10-K for the year ended December 31, 2020, have
been audited by Deloitte &amp; Touche LLP, an independent registered public accounting firm, as stated in their report, which is incorporated
herein by reference. Such financial statements have been so incorporated in reliance upon the report of such firm given upon their authority
as experts in accounting and auditing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 36pt"><A NAME="info"></A><B>WHERE YOU CAN FIND MORE
INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">We have filed with the SEC
a registration statement on Form S-3 under the Securities Act with respect to the securities offered hereby. We also file periodic and
current reports pursuant to the Exchange Act, proxy statements and other information with the SEC. This prospectus, which constitutes
a part of the registration statement, does not contain all of the information in the registration statement and the exhibits of the registration
statement. For further information with respect to us and the shares being offered under this prospectus, we refer you to the registration
statement, including the exhibits and schedules thereto, and the documents incorporated by reference in this prospectus and the registration
statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">The SEC maintains an Internet
web site, which is located at <I>www.sec.gov</I>, which contains reports, proxy and information statements and other information regarding
issuers that file electronically with the SEC. You may access the registration statement of which this prospectus is a part, as well as
our periodic and current reports filed pursuant to the Exchange Act, proxy statements and other information, at the SEC&#8217;s Internet
web site.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">We maintain an Internet
web site at <FONT STYLE="background-color: white">www.freightcaramerica.com</FONT><I>. </I>We have not incorporated by reference into
this prospectus the information on our web site, and you should not consider it to be a part of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">Information that we file
later with the SEC will automatically update and supersede this information. This means that you must look at all of the SEC filings that
we incorporate by reference to determine if any of the statements in this prospectus or in any document previously incorporated by reference
have been modified or superseded. See &#8220;Documents Incorporated by Reference.&#8221;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">We will provide, without
charge, to each person, including any beneficial owner, to whom a copy of this prospectus is delivered, upon the written or oral request
of such person, a copy of all or any of the documents that have been incorporated herein by reference, but are not delivered with this
prospectus, other than exhibits to such documents (unless such exhibits are specifically incorporated by reference herein). Requests for
such copies should be directed to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt"></P>

<!-- Field: Page; Sequence: 36 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">FreightCar America,
Inc.<BR>
</FONT><FONT STYLE="background-color: white">125 S. Wacker Drive, Suite 1500</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"><BR>
</FONT></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Chicago, Illinois 60606<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><BR>
Attn: </FONT><FONT STYLE="font-size: 10pt; background-color: white">Investor Relations</FONT></P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">You may rely on the
information contained in this prospectus. We have not authorized anyone to provide information different from that contained in this prospectus.
Neither the delivery of this prospectus nor the sale of securities means that information contained in this prospectus is correct after
the date of this prospectus. This prospectus is not an offer to sell or a solicitation of an offer to buy securities in any circumstances
under which the offer or solicitation is unlawful.</P>

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


<!-- Field: Page; Sequence: 37 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Part II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>INFORMATION NOT REQUIRED IN PROSPECTUS </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Item 14. Other Expenses of Issuance and
Distribution</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 36pt">The following table sets
forth the costs and expenses, other than underwriting discounts and commissions, to be paid by the Registrant in connection with the issuance
and distribution of the securities being registered. All amounts other than the SEC registration fee are estimates.</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="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt 0.25pt 1.25pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Amount <BR>
to be paid</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 86%; padding: 0.25pt"><FONT STYLE="font-size: 10pt">SEC registration fee</FONT></TD>
    <TD STYLE="width: 1%; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding: 0.25pt"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 10%; padding: 0.25pt; text-align: right"><FONT STYLE="font-size: 10pt">10,910</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">Legal fees and expenses</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">Accounting fees and expenses</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">Printing and engraving expenses</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding: 0.25pt 0.25pt 1.25pt"><FONT STYLE="font-size: 10pt">Miscellaneous</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.25pt 1.25pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.5pt"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.5pt; text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding: 0.25pt 0.25pt 2.75pt 9.25pt"><FONT STYLE="font-size: 10pt">Total</FONT></TD>
    <TD STYLE="padding: 0.25pt 0.25pt 2.75pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 0.25pt 0.25pt 1.3pt"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 0.25pt 0.25pt 1.3pt; text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(*) <FONT STYLE="font-size: 10pt">These fees are calculated based on the
number of issuances and amount of securities offered and accordingly cannot be estimated at this time.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Item 15. Indemnification of Directors and
Officers</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">The
Registrant is incorporated under the laws of the State of Delaware. Section 145 of the Delaware General Corporation Law provides that
a corporation may indemnify any persons who were, are or are threatened to be made, parties 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 an officer, director, 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 he or she reasonably believed to be in or not opposed to the corporation&#8217;s best interests and, with respect
to any criminal action or proceeding, had no reasonable cause to believe that his or her conduct was unlawful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">Section
145 of the Delaware General Corporation Law further authorizes a corporation to purchase and maintain insurance on behalf of any person
who is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director,
officer, employee or agent of another corporation or enterprise, against any liability asserted against him or her and incurred by him
or her in any such capacity, arising out of his or her status as such, whether or not the corporation would otherwise have the power to
indemnify him or her under Section 145 of the Delaware General Corporation Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">The
Registrant&#8217;s certificate of incorporation, as amended, eliminates the personal liability of a director to the corporation or its
stockholders for monetary damages for breach of fiduciary duty as a director, except for liabilities arising: (a) from any breach of the
director&#8217;s duty of loyalty to the corporation or its stockholders; (b) from acts or omissions not in good faith or which involve
intentional misconduct or a knowing violation of law; (c) under Section 174 of the Delaware General Corporation Law; or (d) from any transaction
from which the director derived an improper personal benefit. In addition, the Registrant&#8217;s bylaws provide for indemnification of
directors, officers, employees and agents to the fullest extent permitted by Delaware law and authorize the Registrant to purchase and
maintain insurance to protect itself and any director, officer, employee or agent of the Registrant or another business entity against
any expense, liability or loss, regardless of whether the Registrant would have the power to indemnify such person under the Registrant&#8217;s
bylaws or Delaware law.</P>


<!-- Field: Page; Sequence: 38 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">Insofar as indemnification
for liabilities arising under the&nbsp;Securities Act&nbsp;may be permitted to directors, officers or persons controlling the Registrant
pursuant to the foregoing provisions, the Registrant has been informed that in the opinion of the Commission such indemnification is against
public policy as expressed in the&nbsp;Securities Act&nbsp;and is therefore unenforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 36pt; background-color: white">In
addition, the Registrant has purchased director and officer liability insurance for the benefit of such persons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; background-color: white"><B>Item 16. Exhibits</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 STYLE="width: 7%; padding: 0.25pt; text-align: justify; text-underline-color: black">Exhibit</TD>
    <TD STYLE="width: 93%; padding: 0.25pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Description</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify">1.1*</TD>
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify">Form of Underwriting Agreement.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify">3.1</TD>
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1320854/000119312506186901/dex31.htm">Certificate of Ownership and Merger of FreightCar America, Inc. into FCA Acquisition Corp., as amended (incorporated by reference to Exhibit 3.1 to the Registrant&#8217;s Current Report on Form 8-K filed with the Commission on September 7, 2006)</A>.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify">3.2</TD>
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1320854/000119312507209837/dex31.htm">Third Amended and Restated By-laws of FreightCar America, Inc. (incorporated by reference to Exhibit 3.1 to the Registrant&#8217;s Current Report filed on Form 8-K filed with the Commission on September 28, 2007)</A>.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify">4.1</TD>
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1320854/000156276221000129/rail-20201231xex4_2.htm">Description of the Registrant&#8217;s Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934 (incorporated by reference to Exhibit 4.2 to the Registrant&#8217;s Annual Report filed on Form 10-K filed with the Commission on March 24, 2021)</A>.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify">4.2</TD>
    <TD STYLE="padding: 0.25pt; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1320854/000119312505068565/dex44.htm">Specimen Common Stock Certificate (incorporated by reference to Exhibit 4.4 to the Registrant&#8217;s Registration Statement on Form S-1 (File No. 333-123384))</A>.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify">4.3*</TD>
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify">Form of Stock Certificate for Preferred Stock.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify">4.4</TD>
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify"><A HREF="exh_44.htm">Form of Senior Indenture (filed herewith)</A>.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify">4.5</TD>
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify"><A HREF="exh_45.htm">Form of Subordinated Indenture (filed herewith).</A> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify">4.6*</TD>
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify">Form of Warrant Agreement, including form of Warrant.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify">4.7*</TD>
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify">Form of Rights Certificate.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify">4.8*</TD>
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify">Form of Pledge Agreement.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify">4.9*</TD>
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify">Form of Unit Agreement.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify">5.1</TD>
    <TD STYLE="padding: 0.25pt 0.25pt 12pt; text-align: justify"><A HREF="exh_51.htm">Opinion of Winston &amp; Strawn LLP (filed herewith)</A>.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt; text-align: justify"><FONT STYLE="font-size: 10pt">23.1</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: justify"><FONT STYLE="font-size: 10pt"><A HREF="exh_231.htm">Consent of Independent Registered Public Accounting Firm (filed herewith)</A>.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt; text-align: justify"><FONT STYLE="font-size: 10pt">23.2</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: justify"><FONT STYLE="font-size: 10pt"><A HREF="exh_51.htm">Consent of Winston &amp; Strawn LLP (included in Exhibit 5.1)</A>.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt; text-align: justify"><FONT STYLE="font-size: 10pt">24.1</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: justify"><FONT STYLE="font-size: 10pt"><A HREF="#poa">Power of Attorney (included on Signature Page)</A>.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt; text-align: justify"><FONT STYLE="font-size: 10pt">25.1**</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: justify"><FONT STYLE="font-size: 10pt">Form T-1, Statement of Eligibility and Qualification under the Trust Indenture Act of 1939 of the Trustee under any indenture constituting Exhibit 4.4 hereto.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">To be filed, if applicable, by amendment or as an exhibit to a document to be incorporated by reference herein in connection with an offering of securities.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">To be filed separately under the electronic form type 305B2, if applicable. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

<!-- Field: Page; Sequence: 39 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Item 17. Undertakings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The undersigned Registrant hereby undertakes:</P>




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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 10pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-size: 10pt">To file, during any period in which offers or sales are being made pursuant to this Registration Statement, a post-effective amendment to this Registration Statement:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; padding-bottom: 12pt"><FONT STYLE="font-size: 10pt">(i)</FONT></TD>
    <TD STYLE="padding-left: 10pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-size: 10pt">to include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; padding-bottom: 12pt"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD>
    <TD STYLE="padding-left: 10pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-size: 10pt">to reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 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 Registration Fee&#8221; table in the effective registration statement; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; padding-bottom: 12pt"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD>
    <TD STYLE="padding-left: 10pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-size: 10pt">to include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify"><I>provided, however, </I><FONT STYLE="font-family: Times New Roman, Times, Serif">that
subparagraphs (i), (ii) and (iii) above do not apply if the information required to be included in a post-effective amendment by these
subparagraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d)
of the Securities Exchange Act of 1934 that are incorporated by reference in this Registration Statement, or is contained in a form of
prospectus filed pursuant to Rule 424(b) that is part of the Registration Statement;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 10pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-size: 10pt">That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial <I>bona fide </I>offering thereof;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 10pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-size: 10pt">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></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt"><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 10pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-size: 10pt">That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; padding-bottom: 12pt"><FONT STYLE="font-size: 10pt">(A)</FONT></TD>
    <TD STYLE="padding-left: 10pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-size: 10pt">Each prospectus filed by the Registrant pursuant to Rule 424(b)(3)shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and</FONT></TD></TR>
  </TABLE>

<!-- Field: Page; Sequence: 40 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; padding-bottom: 12pt"><FONT STYLE="font-size: 10pt">(B)</FONT></TD>
    <TD STYLE="padding-left: 10pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-size: 10pt">Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing the information required by section 10(a) of the Securities Act of 1933 shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt"><FONT STYLE="font-size: 10pt">(5)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 10pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-size: 10pt">That, for the purpose of determining liability of the Registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities, the undersigned Registrant undertakes that in a primary offering of securities of the undersigned Registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned Registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; padding-bottom: 12pt"><FONT STYLE="font-size: 10pt">(i)</FONT></TD>
    <TD STYLE="padding-left: 10pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-size: 10pt">Any preliminary prospectus or prospectus of the undersigned Registrant relating to the offering required to be filed pursuant to Rule 424;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; padding-bottom: 12pt"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD>
    <TD STYLE="padding-left: 10pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-size: 10pt">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></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; padding-bottom: 12pt"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD>
    <TD STYLE="padding-left: 10pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-size: 10pt">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></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; padding-bottom: 12pt"><FONT STYLE="font-size: 10pt">(iv)</FONT></TD>
    <TD STYLE="padding-left: 10pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-size: 10pt">Any other communication that is an offer in the offering made by the undersigned Registrant to the purchaser;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt"><FONT STYLE="font-size: 10pt">(6)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-left: 10pt; padding-bottom: 12pt; text-align: justify"><FONT STYLE="font-size: 10pt">That for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant to section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof;</FONT></TD></TR>
  </TABLE>

<!-- Field: Page; Sequence: 41 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 12px"><FONT STYLE="font-size: 10pt">(7)</FONT></TD>
    <TD STYLE="padding-left: 10pt; text-align: justify; width: 88%"><FONT STYLE="font-size: 10pt">Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to any charter provision, by law or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than 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; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">(8)</FONT></TD>
    <TD STYLE="padding-left: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The undersigned registrant hereby undertakes to file an application for the purpose of determining the eligibility of the trustee to act under subsection (a) of section 310 of the Trust Indenture Act (&#8220;Act&#8221;) in accordance with the rules and regulations prescribed by the Commission under section 305(b)(2) of the Act.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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


<!-- Field: Page; Sequence: 42 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Pursuant to the requirements of the Securities
Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form
S-3 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Chicago,
Illinois, on August 27, 2021.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">FREIGHTCAR AMERICA, INC.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="width: 5%; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="width: 45%; padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.5pt"><FONT STYLE="font-size: 10pt">/s/ JAMES R. MEYER</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="background-color: white">James R. Meyer</FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</I><FONT STYLE="background-color: white">President and Chief Executive Officer</FONT></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="poa"></A>Power of Attorney</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We, the undersigned directors and/or officers
of FreightCar America, Inc. (the &#8220;<B>Registrant</B>&#8221;), hereby severally constitute and appoint James R. Meyer and Terence
R. Rogers, and each of them individually, with full powers of substitution and resubstitution, our true and lawful attorneys, with full
powers to them and each of them to sign for us, in our names and in the capacities indicated below, the Registration Statement on this
Form S-3 filed with the Securities and Exchange Commission, and any and all amendments to said Registration Statement (including post-effective
amendments), and any registration statement filed pursuant to Rule 462(b) under the Securities Act of 1933 in connection with the registration
under the Securities Act of 1933 of the Registrant&#8217;s equity securities, and to file or cause to be filed the same, with all exhibits
thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys, and each
of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith,
as fully to all intents and purposes as each of them might or could do in person, and hereby ratifying and confirming all that said attorneys,
and each of them, or their substitute or substitutes, shall do or cause to be done by virtue of this Power of Attorney.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Pursuant to the requirements of the Securities
Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated below.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%; padding: 0.25pt"><FONT STYLE="font-size: 10pt">Dated: August 27, 2021</FONT></TD>
    <TD STYLE="width: 8%; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="width: 54%; border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.5pt; text-align: center"><FONT STYLE="font-size: 10pt">/s/ JAMES R. MEYER</FONT></TD>
    <TD STYLE="width: 10%; padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; text-align: right"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: center"><FONT STYLE="font-size: 10pt; background-color: white">James R. Meyer</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; text-align: right"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: center"><FONT STYLE="font-size: 10pt; background-color: white">President, Chief Executive Officer and Director (Principal Executive Officer)</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">Dated: August 27, 2021</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.5pt; text-align: center"><FONT STYLE="font-size: 10pt">/s/ TERENCE R. ROGERS</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; text-align: right"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: center"><FONT STYLE="font-size: 10pt">Terence R. Rogers</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; text-align: right"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: center"><FONT STYLE="font-size: 10pt">Vice President, Chief Financial Officer, Treasurer and Corporate Secretary (Principal Financial Officer)</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">Dated: August 27, 2021</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.5pt; text-align: center"><FONT STYLE="font-size: 10pt">/s/ MICHAEL A. RIORDAN</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; text-align: right"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: center"><FONT STYLE="font-size: 10pt">Michael A. Riordan</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; text-align: right"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: center"><FONT STYLE="font-size: 10pt; background-color: white">Corporate Controller and Chief Accounting Officer</FONT> <FONT STYLE="font-size: 10pt">(Principal Accounting Officer)</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">Dated: August 27, 2021</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.5pt; text-align: center"><FONT STYLE="font-size: 10pt">/s/ WILLIAM D. GEHL</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; text-align: right"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: center"><FONT STYLE="font-size: 10pt">William D. Gehl</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; text-align: right"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: center"><FONT STYLE="font-size: 10pt">Chairman of the Board and Director</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">Dated: August 27, 2021</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.5pt; text-align: center"><FONT STYLE="font-size: 10pt">/s/ ELIZABETH K. ARNOLD</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; text-align: right"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: center"><FONT STYLE="font-size: 10pt">Elizabeth K. Arnold</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; text-align: right"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">Dated: August 27, 2021</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.25pt; text-align: center"><FONT STYLE="font-size: 10pt">/s/ JESUS SALVADOR GIL BENAVIDES</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; text-align: right"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: center"><FONT STYLE="font-size: 10pt">Jesus Salvador Gil Benavides</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; text-align: right"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P></TD>
    <TD STYLE="padding: 0.25pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">Dated: August 27, 2021</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.25pt; text-align: center"><FONT STYLE="font-size: 10pt">/s/ MALCOLM F. MOORE</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; text-align: right"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: center"><FONT STYLE="font-size: 10pt">Malcolm F. Moore</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; text-align: right"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">Dated: August 27, 2021</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.25pt; text-align: center"><FONT STYLE="font-size: 10pt">/s/ ANDREW B. SCHMITT</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; text-align: right"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: center"><FONT STYLE="font-size: 10pt">Andrew B. Schmitt</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; text-align: right"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="padding: 0.25pt; text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">37</P>

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

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.4
<SEQUENCE>2
<FILENAME>exh_44.htm
<DESCRIPTION>EXHIBIT 4.4
<TEXT>
<html>
<head>
     <title></title>
</head>
<body style="font: 10pt Times New Roman, Times, Serif">

<p style="text-align: right; margin: 0"><b>Exhibit 4.4</b></p>

<p style="margin: 0">&nbsp;</p>

<p style="margin: 0">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center"><font style="text-transform: uppercase"><b>FREIGHTCAR AMERICA, INC.</b></font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center"><font style="text-transform: uppercase"><b>Issuer</b></font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center"><font style="text-transform: uppercase"><b>AND</b></font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center"><font style="text-transform: uppercase"><b>[TRUSTEE],</b></font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center"><font style="text-transform: uppercase"><b>Trustee</b></font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center"><font style="text-transform: uppercase"><b>INDENTURE</b></font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center"><font style="text-transform: uppercase"><b>Dated as of [&middot;], 20[&middot;]</b></font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center"><font style="text-transform: uppercase"><b>Senior Debt Securities</b></font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center"></p>

<!-- Field: Page; Sequence: 1 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><p style="margin: 0pt">&#160;</p></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: center"><b>Table of Contents</b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: right"><u>Page</u></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td colspan="3" style="font-size: 10pt; text-align: left">ARTICLE 1 DEFINITIONS</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">1</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; width: 19%">&nbsp;</td><td style="font-size: 10pt; width: 1%">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left; width: 69%">&nbsp;</td><td style="font-size: 10pt; width: 1%">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left; width: 10%">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 1.01</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Definitions of Terms.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">1</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td colspan="3" style="font-size: 10pt; text-align: left">ARTICLE 2 ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">5</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 2.01</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Designation and Terms of Securities.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">5</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 2.02</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Form of Securities and Trustee&rsquo;s Certificate.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">8</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 2.03</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Denominations: Provisions for Payment.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">8</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 2.04</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Execution and Authentications.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">10</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 2.05</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Registration of Transfer and Exchange.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">10</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 2.06</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Temporary Securities.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">12</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 2.07</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Mutilated, Destroyed, Lost or Stolen Securities.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">12</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 2.08</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Cancellation.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">13</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 2.09</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Benefits of Indenture.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">13</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 2.10</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Authenticating Agent.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">13</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 2.11</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Global Securities.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">14</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td colspan="3" style="font-size: 10pt; text-align: left">ARTICLE 3 REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">15</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 3.01</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Redemption.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">15</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 3.02</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Notice of Redemption.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">15</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 3.03</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Payment Upon Redemption.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">16</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 3.04</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Sinking Fund.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">17</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 3.05</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Satisfaction of Sinking Fund Payments with Securities.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">17</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 3.06</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Redemption of Securities for Sinking Fund.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">17</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td colspan="3" style="font-size: 10pt; text-align: left">ARTICLE 4 COVENANTS</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">18</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 4.01</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Payment of Principal, Premium and Interest.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">18</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 4.02</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Maintenance of Office or Agency.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">18</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 4.03</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Paying Agents.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">18</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 4.04</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Appointment to Fill Vacancy in Office of Trustee.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">19</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 4.05</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Compliance with Consolidation Provisions.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">19</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td colspan="3" style="font-size: 10pt; text-align: left">ARTICLE 5 SECURITYHOLDERS&rsquo; LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">20</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 5.01</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Company to Furnish Trustee Names and Addresses of Securityholders.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">20</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 5.02</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Preservation Of Information; Communications With Securityholders.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">20</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 5.03</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Reports by the Company.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">20</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table>

<p style="margin: 0">&nbsp;</p>

<!-- Field: Page; Sequence: 2; Options: NewSection -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->i<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0"></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in; width: 19%">Section 5.04</td><td style="font-size: 10pt; width: 1%">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left; width: 69%">Reports by the Trustee.</td><td style="font-size: 10pt; width: 1%">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right; width: 10%">21</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td colspan="3" style="font-size: 10pt; text-align: left">ARTICLE 6 REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">21</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 6.01</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Events of Default.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">21</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 6.02</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Collection of Indebtedness and Suits for Enforcement by Trustee.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">23</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 6.03</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Application of Moneys Collected.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">24</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 6.04</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Limitation on Suits.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">25</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 6.05</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Rights and Remedies Cumulative; Delay or Omission Not Waiver.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">26</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 6.06</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Control by Securityholders.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">26</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 6.07</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Undertaking to Pay Costs.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">27</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td colspan="3" style="font-size: 10pt; text-align: left">ARTICLE 7 CONCERNING THE TRUSTEE</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">27</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 7.01</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Certain Duties and Responsibilities of Trustee.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">27</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 7.02</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Certain Rights of Trustee.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">28</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 7.03</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Trustee Not Responsible for Recitals or Issuance or Securities.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">30</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 7.04</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">May Hold Securities.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">30</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 7.05</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Moneys Held in Trust.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">30</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 7.06</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Compensation and Reimbursement.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">30</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 7.07</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Reliance on Officer&rsquo;s Certificate.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">31</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 7.08</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Disqualification; Conflicting Interests.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">31</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 7.09</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Corporate Trustee Required; Eligibility.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">31</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 7.10</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Resignation and Removal; Appointment of Successor.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">32</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 7.11</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Acceptance of Appointment By Successor.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">33</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 7.12</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Merger, Conversion, Consolidation or Succession to Business.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">34</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 7.13</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Preferential Collection of Claims Against the Company.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">35</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 7.14</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Notice of Default.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">35</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td colspan="3" style="font-size: 10pt; text-align: left">ARTICLE 8 CONCERNING THE SECURITYHOLDERS</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">35</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 8.01</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Evidence of Action by Securityholders.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">35</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 8.02</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Proof of Execution by Securityholders.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">36</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 8.03</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Who May be Deemed Owners.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">36</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 8.04</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Certain Securities Owned by Company Disregarded.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">36</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 8.05</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Actions Binding on Future Securityholders.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">37</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td colspan="3" style="font-size: 10pt; text-align: left">ARTICLE 9 SUPPLEMENTAL INDENTURES</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">37</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 9.01</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Supplemental Indentures Without the Consent of Securityholders.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">37</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 9.02</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Supplemental Indentures With Consent of Securityholders.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">38</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 9.03</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Effect of Supplemental Indentures.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">38</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table>

<p style="margin: 0">&nbsp;</p>

<!-- Field: Page; Sequence: 3 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->ii<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0"></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in; width: 19%">Section 9.04</td><td style="font-size: 10pt; width: 1%">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left; width: 69%">Securities Affected by Supplemental Indentures.</td><td style="font-size: 10pt; width: 1%">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right; width: 10%">39</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 9.05</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Execution of Supplemental Indentures.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">39</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td colspan="3" style="font-size: 10pt; text-align: left">ARTICLE 10 SUCCESSOR ENTITY</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">40</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 10.01</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Company May Consolidate, Etc.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">40</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 10.02</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Successor Entity Substituted.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">40</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td colspan="3" style="font-size: 10pt; text-align: left">ARTICLE 11 SATISFACTION AND DISCHARGE</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">41</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 11.01</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Satisfaction and Discharge of Indenture.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">41</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 11.02</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Discharge of Obligations.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">41</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 11.03</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Deposited Moneys to be Held in Trust.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">42</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 11.04</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Payment of Moneys Held by Paying Agents.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">42</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 11.05</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Repayment to Company.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">42</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td colspan="3" style="font-size: 10pt; text-align: left">ARTICLE 12 IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">42</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 12.01</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">No Recourse.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">42</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td colspan="3" style="font-size: 10pt; text-align: left">ARTICLE 13 MISCELLANEOUS PROVISIONS</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">43</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 13.01</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Effect on Successors and Assigns.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">43</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 13.02</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Actions by Successor.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">43</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 13.03</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Surrender of Company Powers.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">43</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 13.04</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Notices.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">43</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 13.05</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Governing Law.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">44</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 13.06</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Section 13.06 Treatment of Securities as Debt.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">44</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 13.07</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Certificates and Opinions as to Conditions Precedent.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">44</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 13.08</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Payments on Business Days.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">44</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 13.09</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Conflict with Trust Indenture Act.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">44</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 13.10</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Counterparts.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">45</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 13.11</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Separability.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">45</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-left: 0.5in">Section 13.12</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">Compliance Certificates.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">45</td></tr>
  </table>


<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="font-size: 10pt; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 0px">&nbsp;</td>
    <td style="width: 29px; font-size: 10pt">(1)</td>
    <td style="font-size: 10pt; text-align: justify">This Table of Contents does not constitute part of this Indenture and shall not have any bearing on the interpretation of any of its terms or provisions.</td></tr>
  </table>
<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center"></p>

<!-- Field: Page; Sequence: 4 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->iii<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center">INDENTURE</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black"><b>INDENTURE</b></font>,
dated as of [<font style="color: black">&middot;</font>], 20<font style="color: black">[&middot;] (this &ldquo;Indenture&rdquo;)</font>,
by and between <font style="color: black"><b>FreightCar America, Inc.</b></font>, a Delaware corporation (the &ldquo;Company<font style="color: black">&rdquo;</font>),
and [ <font style="color: black"><b>TRUSTEE </b></font>], as trustee (the <font style="color: black">&ldquo;</font>Trustee<font style="color: black">&rdquo;</font>):</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black"><b>WHEREAS</b></font>, for
its lawful corporate purposes, the Company has duly authorized the execution and delivery of this Indenture to provide for the issuance
of debt securities (hereinafter referred to as the <font style="color: black">&ldquo;</font>Securities<font style="color: black">&rdquo;</font>),
in an unlimited aggregate principal amount to be issued from time to time in one or more series as in this Indenture provided, as registered
Securities without coupons, to be authenticated by the certificate of the Trustee;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black"><b>WHEREAS</b></font>, to
provide the terms and conditions upon which the Securities are to be authenticated, issued and delivered, the Company has duly authorized
the execution of this Indenture; and</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black"><b>WHEREAS</b></font>, all
things necessary to make this Indenture a valid agreement of the Company, in accordance with its terms, have been done.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black"><b>NOW, THEREFORE</b></font>,
in consideration of the premises and the purchase of the Securities by the holders thereof, it is mutually covenanted and agreed as follows
for the equal and ratable benefit of the holders of the Securities:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">ARTICLE
1</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in"><b>DE</b>FINITIONS</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 1.01<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Definitions of Terms.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The terms defined in this Section (except as in this
Indenture or any indenture supplemental hereto otherwise expressly provided or unless the context otherwise requires) for all purposes
of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section and shall include
the plural as well as the singular. All other terms used in this Indenture that are defined in the Trust Indenture Act of 1939, as amended,
or that are by reference in such Act defined in the Securities Act of 1933, as amended (except as herein or any indenture supplemental
hereto otherwise expressly provided or unless the context otherwise requires), shall have the meanings assigned to such terms in said
Trust Indenture Act and in said Securities Act as in force at the date of the execution of this instrument.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Authenticating
Agent</i></b>&rdquo;</font> means an authenticating agent with respect to all or any of the series of Securities appointed by the Trustee
pursuant to Section 2.10.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Bankruptcy
Law</i></b>&rdquo;</font> means Title 11, U.S. Code, or any similar federal or state law for the relief of debtors.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Board of Directors</i></b>&rdquo;</font>
means the Board of Directors (or the functional equivalent thereof) of the Company or any duly authorized committee of such Board.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black"></font></p>

<!-- Field: Page; Sequence: 5; Options: NewSection -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><p style="margin: 0pt">&#160;</p></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Board Resolution</i></b>&rdquo;</font>
means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board
of Directors and to be in full force and effect on the date of such certification.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Business Day</i></b>&rdquo;</font>
means, with respect to any series of Securities, any day other than a day on which federal or state banking institutions in the Borough
of Manhattan, the City of New York, or in the city of the Corporate Trust Office of the Trustee, are authorized or obligated by law, executive
order or regulation to close.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Certificate</i></b>&rdquo;
</font>means a certificate signed by any Officer. The Certificate need not comply with the provisions of Section 13.07.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Commission</i></b>&rdquo;
</font>means the Securities and Exchange Commission, as from time to time constituted, created under the Exchange Act, or, if at any time
after the execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture
Act, then the body performing such duties at such time.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Company</i></b>&rdquo;
</font>means FreightCar America, Inc., a corporation duly organized and existing under the laws of the State of Delaware, and, subject
to the provisions of Article 10, shall also include its successors and assigns.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Corporate Trust
Office</i></b>&rdquo;</font> means the office of the Trustee at which, at any particular time, its corporate trust business shall be principally
administered, which office at the date hereof is located at.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Custodian</i></b>&rdquo;
</font>means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Defaulted Interest</i></b>&rdquo;</font>
has the meaning set forth in Section 2.03.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Depositary</i></b>&rdquo;
</font>means, with respect to Securities of any series for which the Company shall determine that such Securities will be issued as a
Global Security, The Depository Trust Company, another clearing agency, or any successor registered as a clearing agency under the Exchange
Act, or other applicable statute or regulation, which, in each case, shall be designated by the Company pursuant to either Section 2.01
or 2.11.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Event of Default</i></b>&rdquo;</font>
means, with respect to Securities of a particular series, any event specified in Section 6.01, continued for the period of time, if any,
therein designated.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Exchange Act</i></b>&rdquo;</font>
means the United States Securities and Exchange Act of 1934, as amended, and the rules and regulations promulgated by the Commission thereunder.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Global Security</i></b>&rdquo;</font>
means a Security issued to evidence all or a part of any series of Securities which is executed by the Company and authenticated and delivered
by the Trustee to the Depositary or pursuant to the Depositary<font style="color: black">&rsquo;</font>s instruction, all in accordance
with this Indenture, which shall be registered in the name of the Depositary or its nominee.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 6; Options: NewSection; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Governmental
Obligations</i></b>&rdquo;</font> means securities that are (a) direct obligations of the United States of America for the payment of
which its full faith and credit is pledged or (b) obligations of a Person controlled or supervised by and acting as an agency or instrumentality
of the United States of America, the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United
States of America that, in either case, are not callable or redeemable at the option of the issuer thereof at any time prior to the stated
maturity of the Securities, and shall also include a depositary receipt issued by a bank or trust company as custodian with respect to
any such Governmental Obligation or a specific payment of principal of or interest on any such Governmental Obligation held by such custodian
for the account of the holder of such depositary receipt; provided, however, 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 Governmental Obligation or the specific payment of principal of or interest on the Governmental Obligation evidenced by such depositary
receipt.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>herein</i></b>&rdquo;</font>,
<font style="color: black">&ldquo;<b><i>hereof</i></b>&rdquo;</font> and <font style="color: black">&ldquo;<b><i>hereunder</i></b>&rdquo;</font>,
and other words of similar import, refer to this Indenture as a whole and not to any particular Article, Section or other subdivision.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Indenture</i></b>&rdquo;
</font>means this instrument as originally executed or as it may from time to time be supplemented or amended by one or more indentures
supplemental hereto entered into in accordance with the terms hereof and shall include the terms of particular series of Securities established
as contemplated by Section 2.01.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Interest Payment
Date</i></b>&rdquo;</font>, when used with respect to any installment of interest on a Security of a particular series, means the date
specified in such Security or in a Board Resolution or in an indenture supplemental hereto with respect to such series as the fixed date
on which an installment of interest with respect to Securities of that series is due and payable.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Officer</i></b>&rdquo;
</font>means, with respect to the Company, the chairman of the Board of Directors, a chief executive officer, a president, a chief financial
officer, a chief operating officer, any executive vice president, any senior vice president, any vice president, the treasurer or any
assistant treasurer, the controller or any assistant controller or the secretary or any assistant secretary.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Officer&rsquo;s
Certificate</i></b>&rdquo;</font> means a certificate signed by any Officer. Each such certificate shall include the statements provided
for in Section 13.07, if and to the extent required by the provisions thereof.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Opinion of
Counsel</i></b>&rdquo;</font> means an opinion in writing subject to customary exceptions of legal counsel, who may be an employee of
or counsel for the Company, that is delivered to the Trustee in accordance with the terms hereof. Each such opinion shall include the
statements provided for in Section 13.07, if and to the extent required by the provisions thereof.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Outstanding</i></b>&rdquo;</font>,
when used with reference to Securities of any series, means, subject to the provisions of Section 8.04, as of any particular time, all
Securities of that series theretofore authenticated and delivered by the Trustee under this Indenture, except (a) Securities theretofore
canceled by the Trustee or any paying agent, or delivered to the Trustee or any paying agent for cancellation or that have previously
been canceled; (b) Securities or portions thereof for the payment or redemption of which moneys or Governmental Obligations in the necessary
amount shall have been deposited in trust with the Trustee or with any paying agent (other than the Company) or shall have been set aside
and segregated in trust by the Company (if the Company shall act as its own paying agent); provided, however, that if such Securities
or portions of such Securities are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided
in Article 3, or provision satisfactory to the Trustee shall have been made for giving such notice; and (c) Securities in lieu of or in
substitution for which other Securities shall have been authenticated and delivered pursuant to the terms of Section 2.07.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 7; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Person</i></b>&rdquo;
</font>means any individual, corporation, partnership, joint venture, joint-stock company, limited liability company, association, trust,
unincorporated organization, any other entity or organization, including a government or political subdivision or an agency or instrumentality
thereof.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Predecessor
Security</i></b>&rdquo;</font> of any particular Security means every previous Security evidencing all or a portion of the same debt as
that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section
2.07 in lieu of a lost, destroyed or stolen Security shall be deemed to evidence the same debt as the lost, destroyed or stolen Security.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Responsible
Officer</i></b>&rdquo;</font> when used with respect to the Trustee means any officer of the Trustee assigned by the Trustee to administer
its corporate trust matters with respect to this Indenture (which, for the avoidance of doubt, includes without limitation any supplemental
indenture hereto).</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Securities</i></b>&rdquo;
</font>has the meaning stated in the first recital of this Indenture and more particularly means any Securities authenticated and delivered
under this Indenture.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Securityholder</i></b>&rdquo;</font>,
<font style="color: black">&ldquo;<b><i>holder of Securities</i></b>&rdquo;</font>, <font style="color: black">&ldquo;<b><i>registered
holder</i></b>&rdquo;</font>, or other similar term, means the Person or Persons in whose name or names a particular Security is registered
on the Security Register kept for that purpose in accordance with the terms of this Indenture.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Security Register</i></b>&rdquo;</font>
and <font style="color: black">&ldquo;<b><i>Security Registrar</i></b>&rdquo; </font>shall have the meanings as set forth in Section 2.05.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Subsidiary</i></b>&rdquo;
</font>means, with respect to any Person:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in">(1)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font>any corporation or company a majority of whose capital stock with voting power, under ordinary circumstances, to elect directors
is, at the date of determination, directly or indirectly, owned by such Person (a &ldquo;subsidiary&rdquo;), by one or more subsidiaries
of such Person or by such Person and one or more subsidiaries of such Person;</p>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in">(2)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font>a partnership in which such Person or a subsidiary of such Person is, at the date of determination, a general partner of such partnership;
or</p>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in">(3)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font>any partnership, limited liability company or other Person in which such Person, a subsidiary of such Person or such Person and
one or more subsidiaries of such Person, directly or indirectly, at the date of determination, have (x) at least a majority ownership
interest or (y) the power to elect or appoint or direct the election or appointment of the managing partner or member of such Person or,
if applicable, a majority of the directors or other governing body of such Person.</p>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 8; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Trustee</i></b>&rdquo;
</font>means, and, subject to the provisions of Article 7, shall also include its successors and assigns, and, if at any time there is
more than one Person acting in such capacity hereunder, <font style="color: black">&ldquo;</font>Trustee<font style="color: black">&rdquo;
</font>shall mean each such Person. The term <font style="color: black">&ldquo;</font>Trustee<font style="color: black">&rdquo; </font>as
used with respect to a particular series of the Securities shall mean the trustee with respect to that series.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black">&ldquo;<b><i>Trust Indenture
Act</i></b>&rdquo;</font> means the Trust Indenture Act of 1939, as amended.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">ARTICLE
2<br>
<br>
ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION<br>
AND EXCHANGE <b><u>O</u></b>F SECURITIES</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 2.01<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Designation and Terms of Securities.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(a)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>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 up to the aggregate principal amount of Securities of that series from time to time authorized
by or pursuant to a Board Resolution or pursuant to one or more indentures supplemental hereto. Prior to the initial issuance of Securities
of any series, there shall be established in or pursuant to a Board Resolution, and set forth in an Officer&rsquo;s Certificate, or established
in one or more indentures supplemental hereto:</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(1)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>the title of the Securities of the series (which shall distinguish the Securities of that series from all other Securities);</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(2)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>any limit upon the aggregate principal amount of the Securities of that series which may be authenticated and delivered under
this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of,
other Securities of that series);</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(3)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>the date or dates on which the principal of the Securities of the series is payable;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(4)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>if the price (expressed as a percentage of the aggregate principal amount thereof) at which such Securities will be issued
is a price other than the principal amount thereof, the portion of the principal amount thereof payable upon declaration of acceleration
of the maturity thereof, or if applicable, the portion of the principal amount of such Securities that is convertible into another security
or the method by which any such portion shall be determined;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(5)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>the rate or rates at which the Securities of the series shall bear interest or the manner of calculation of such rate or rates,
if any;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 9; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in"><b>(6)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>the date or dates from which such interest shall accrue, the Interest Payment Dates on which such interest will be payable
or the manner of determination of such Interest Payment Dates, the place(s) of payment, and the record date for the determination of holders
to whom interest is payable on any such Interest Payment Dates or the manner of determination of such record dates;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(7)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>the right, if any, to extend the interest payment periods and the duration of such extension;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(8)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>the period or periods within which, the price or prices at which and the terms and conditions upon which Securities of the
series may be redeemed, converted or exchanged, in whole or in part;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(9)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>the obligation, if any, of the Company to redeem or purchase Securities of the series pursuant to any sinking fund, mandatory
redemption, or analogous provisions (including payments made in cash in satisfaction of future sinking fund obligations) 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 shall be redeemed or purchased, in whole or in part, pursuant to such obligation;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(10)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>the form of the Securities of the series including the form of the Certificate of Authentication for such series;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(11)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>if other than denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, the denominations in which
the Securities of the series shall be issuable;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(12)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>any and all other terms (including terms, to the extent applicable, relating to any auction or remarketing of the Securities
of that series and any security for the obligations of the Company with respect to such Securities) with respect to such series (which
terms shall not be inconsistent with the terms of this Indenture, as amended by any supplemental indenture) including any terms which
may be required by or advisable under United States laws or regulations or advisable in connection with the marketing of Securities of
that series;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(13)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>whether the Securities of the series shall be issued in whole or in part in the form of a Global Security or Securities; the
terms and conditions, if any, upon which such Global Security or Securities may be exchanged in whole or in part for other individual
Securities; and the Depositary for such Global Security or Securities;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(14)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>whether the Securities will be convertible into or exchangeable for shares of common stock, preferred stock or other securities
of the Company or any other Person and, if so, the terms and conditions upon which such Securities will be so convertible or exchangeable,
including the conversion or exchange price, as applicable, or how it will be calculated and may be adjusted, any mandatory or optional
(at the Company&rsquo;s option or the holders&rsquo; option) conversion or exchange features, and the applicable conversion or exchange
period;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 10; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in"><b>(15)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>if other than the full principal amount thereof, the portion of the principal amount of Securities of the series which shall
be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.01;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(16)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>any additional or alternative events of default;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(17)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>additional or alternative covenants (which may include, among other restrictions, restrictions on the Company&rsquo;s ability
or the ability of the Company&rsquo;s Subsidiaries to: incur additional indebtedness; issue additional securities; create liens; pay dividends
or make distributions in respect of the capital stock of the Company or the Company&rsquo;s Subsidiaries; redeem capital stock; place
restrictions on the Company&rsquo;s Subsidiaries&rsquo; ability to pay dividends, make distributions or transfer assets; make investments
or other restricted payments; sell or otherwise dispose of assets; enter into sale-leaseback transactions; engage in transactions with
stockholders or affiliates; issue or sell stock of the Company&rsquo;s Subsidiaries; or effect a consolidation or merger) or financial
covenants (which may include, among other financial covenants, financial covenants that require the Company and its Subsidiaries to maintain
specified interest coverage, fixed charge, cash flow-based, asset-based or other financial ratios) provided for with respect to the Securities
of the series;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(18)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>the currency or currencies, including composite currencies, in which payment of the principal of (and premium, if any) and
interest, if any, on such Securities shall be payable (if other than the currency of the United States of America), which unless otherwise
specified shall be the currency of the United States of America as at the time of payment is legal tender for payment of public or private
debts;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(19)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>if the principal of (and premium, if any) or interest, if any, on such Securities is to be payable, at the election of the
Company or any Holder thereof, in a coin or currency other than that in which such Securities are stated to be payable, then the period
or periods within which, and the terms and conditions upon which, such election may be made;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(20)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>whether interest will be payable in cash or additional Securities at the Company&rsquo;s or the Securityholders&rsquo; option
and the terms and conditions upon which the election may be made;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(21)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>the terms and conditions, if any, upon which the Company shall pay amounts in addition to the stated interest, premium, if
any and principal amounts of the Securities of the series to any Securityholder that is not a &ldquo;United States person&rdquo; for federal
tax purposes;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(22)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>additional or alternative provisions, if any, related to defeasance and discharge of the offered Securities;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(23)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>the applicability of any guarantees;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(24)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>any restrictions on transfer, sale or assignment of the Securities of the series; and</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b></b></p>

<!-- Field: Page; Sequence: 11; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in"><b>(25)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>any other terms of the series.</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">All Securities of any one series shall be substantially
identical except as may otherwise be provided in or pursuant to any such Board Resolution or in any indentures supplemental hereto.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">If any of the terms of the series are established by
action taken pursuant to a Board Resolution of the Company, a copy of an appropriate record of such action shall be certified by the secretary
or an assistant secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officer<font style="color: black">&rsquo;</font>s
Certificate of the Company setting forth the terms of the series.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Securities of any particular series may be issued at
various times, with different dates on which the principal or any installment of principal is payable, with different rates of interest,
if any, or different methods by which rates of interest may be determined, with different dates on which such interest may be payable
and with different redemption dates.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 2.02<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Form of Securities and Trustee&rsquo;s Certificate.</u></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Securities of any series and the Trustee<font style="color: black">&rsquo;</font>s
certificate of authentication to be borne by such Securities shall be substantially of the tenor and purport as set forth in one or more
indentures supplemental hereto or as provided in a Board Resolution, and set forth in an Officer<font style="color: black">&rsquo;</font>s
Certificate, and they may have such letters, numbers or other marks of identification or designation and such legends or endorsements
printed, lithographed or engraved thereon as the Company may deem appropriate and as are not inconsistent with the provisions of this
Indenture, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation
of any securities exchange on which Securities of that series may be listed, or to conform to usage.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 2.03<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Denominations: Provisions for Payment.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Securities shall be issuable as registered Securities
and in the denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, subject to Section 2.01(a)(10). The Securities
of a particular series shall bear interest payable on the dates and at the rate specified with respect to that series. Subject to Section
2.01(a)(16), the principal of and the interest on the Securities of any series, as well as any premium thereon in case of redemption thereof
prior to maturity, shall be payable in the coin or currency of the United States of America that at the time is legal tender for public
and private debt, at the office or agency of the Company maintained for that purpose. Each Security shall be dated the date of its authentication.
Interest on the Securities shall be computed on the basis of a 360-day year composed of twelve 30-day months.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The interest installment on any Security that is payable,
and is punctually paid or duly provided for, on any Interest Payment Date for Securities of that series shall be paid to the Person in
whose name said Security (or one or more Predecessor Securities) is registered at the close of business on the regular record date for
such interest installment. In the event that any Security of a particular series or portion thereof is called for redemption and the redemption
date is subsequent to a regular record date with respect to any Interest Payment Date and prior to such Interest Payment Date, interest
on such Security will be paid upon presentation and surrender of such Security as provided in Section 3.03.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 12; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Any interest on any Security that is payable, but is
not punctually paid or duly provided for, on any Interest Payment Date for Securities of the same series (herein called <font style="color: black">&ldquo;</font>Defaulted
Interest<font style="color: black">&rdquo;</font>) shall forthwith cease to be payable to the registered holder on the relevant regular
record date by virtue of having been such holder; and such Defaulted Interest shall be paid by the Company, at its election, as provided
in clause (1) or clause (2) below:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(1)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>The Company may make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their
respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted
Interest, which shall be fixed in the following manner: the Company shall notify the Trustee in writing of the amount of Defaulted Interest
proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the
Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements
satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust
for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special
record date for the payment of such Defaulted Interest which shall not be more than 15 nor less than 10 days prior to the date of the
proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly
notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed
payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, to each Securityholder
at his or her address as it appears in the Security Register (as hereinafter defined), not less than 10 days prior to such special record
date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid,
such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered
on such special record date.</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(2)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the
requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange,
if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be
deemed practicable by the Trustee.</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Unless otherwise set forth in a Board Resolution or
one or more indentures supplemental hereto establishing the terms of any series of Securities pursuant to Section 2.01 hereof, the term
<font style="color: black">&ldquo;</font>regular record date<font style="color: black">&rdquo; </font>as used in this Section with respect
to a series of Securities and any Interest Payment Date for such series shall mean either the fifteenth day of the month immediately preceding
the month in which an Interest Payment Date established for such series pursuant to Section 2.01 hereof shall occur, if such Interest
Payment Date is the first day of a month, or the first day of the month in which an Interest Payment Date established for such series
pursuant to Section 2.01 hereof shall occur, if such Interest Payment Date is the fifteenth day of a month, whether or not such date is
a Business Day.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 13; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Subject to the foregoing provisions of this Section,
each Security of a series delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security of such
series shall carry the rights to interest accrued and unpaid, and to accrue, that were carried by such other Security.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 2.04<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Execution and Authentications.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Securities shall be signed on behalf of the Company
by one of its Officers. Signatures may be in the form of a manual or facsimile signature.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Company may use the facsimile signature of any
Person who shall have been an Officer, notwithstanding the fact that at the time the Securities shall be authenticated and delivered or
disposed of such Person shall have ceased to be such an officer of the Company. The Securities may contain such notations, legends or
endorsements required by law, stock exchange rule or usage. Each Security shall be dated the date of its authentication by the Trustee.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">A Security shall not be valid until authenticated manually
by an authorized signatory of the Trustee, or by an Authenticating Agent. Such signature shall be conclusive evidence that the Security
so authenticated has been duly authenticated and delivered hereunder and that the holder is entitled to the benefits of this Indenture.
At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series
executed by the Company to the Trustee for authentication, together with a written order of the Company for the authentication and delivery
of such Securities, signed by an Officer, and the Trustee in accordance with such written order shall authenticate and deliver such Securities.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">In authenticating such Securities and accepting the
additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, if requested,
and (subject to Section 7.01) shall be fully protected in relying upon, an Opinion of Counsel stating that the form and terms thereof
have been established in conformity with the provisions of this Indenture.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Trustee shall not be required to authenticate such
Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee<font style="color: black">&rsquo;</font>s
own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner that is not reasonably acceptable to
the Trustee.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 2.05<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Registration of Transfer and Exchange.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(a)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>Securities of any series may be exchanged upon presentation thereof at the office or agency of the Company designated for such
purpose, for other Securities of such series of authorized denominations, and for a like aggregate principal amount, upon payment of a
sum sufficient to cover any tax or other governmental charge in relation thereto, all as provided in this Section. In respect of any Securities
so surrendered for exchange, the Company shall execute, the Trustee shall authenticate and such office or agency shall deliver in exchange
therefor the Security or Securities of the same series that the Securityholder making the exchange shall be entitled to receive, bearing
numbers not contemporaneously outstanding.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 14; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><b>(b)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>The Company shall keep, or cause to be kept, at its office or agency designated for such purpose a register or registers (herein
referred to as the &ldquo;Security Register&rdquo;) in which, subject to such reasonable regulations as it may prescribe, the Company
shall register the Securities and the transfers of Securities as in this Article provided and which at all reasonable times shall be open
for inspection by the Trustee. The registrar for the purpose of registering Securities and transfer of Securities as herein provided shall
be appointed as authorized by Board Resolution (the &ldquo;Security Registrar&rdquo;).</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Upon surrender for transfer of any Security at the
office or agency of the Company designated for such purpose, the Company shall execute, the Trustee shall authenticate and such office
or agency shall deliver in the name of the transferee or transferees a new Security or Securities of the same series as the Security presented
for a like aggregate principal amount.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">All Securities presented or surrendered for exchange
or registration of transfer, as provided in this Section, shall be accompanied (if so required by the Company or the Security Registrar)
by a written instrument or instruments of transfer, in form satisfactory to the Company or the Security Registrar, duly executed by the
registered holder or by such holder<font style="color: black">&rsquo;</font>s duly authorized attorney in writing.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(c)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>Except as provided pursuant to Section 2.01 pursuant to a Board Resolution, and set forth in an Officer&rsquo;s Certificate,
or established in one or more indentures supplemental to this Indenture, no service charge shall be made for any exchange or registration
of transfer of Securities, or issue of new Securities in case of partial redemption of any series, but the Company may require payment
of a sum sufficient to cover any tax or other governmental charge in relation thereto, other than exchanges pursuant to Sections 2.06,
3.03(b) and 9.04 not involving any transfer.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(d)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>The Company shall not be required (i) to issue, exchange or register the transfer of any Securities during a period beginning
at the opening of business 15 days before the day of the mailing of a notice of redemption of less than all the Outstanding Securities
of the same series and ending at the close of business on the day of such mailing, nor (ii) to register the transfer of or exchange any
Securities of any series or portions thereof called for redemption, other than the unredeemed portion of any such Securities being redeemed
in part. The provisions of this Section 2.05 are, with respect to any Global Security, subject to Section 2.11 hereof.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Trustee shall have no obligation or duty to monitor,
determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect
to any transfer of any interest in any Security (including any transfers between or among depositary participants or beneficial owners
of interests in any Global Security) other than to require delivery of such certificates and other documentation or evidence as are expressly
required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial
compliance as to form with the express requirements hereof.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"></p>

<!-- Field: Page; Sequence: 15; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in">Section 2.06<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Temporary Securities.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Pending the preparation of definitive Securities of
any series, the Company may execute, and the Trustee shall authenticate and deliver, temporary Securities (printed, lithographed or typewritten)
of any authorized denomination. Such temporary Securities shall be substantially in the form of the definitive Securities in lieu of which
they are issued, but with such omissions, insertions and variations as may be appropriate for temporary Securities, all as may be determined
by the Company. Every temporary Security of any series shall be executed by the Company and be authenticated by the Trustee upon the same
conditions and in substantially the same manner, and with like effect, as the definitive Securities of such series. Without unnecessary
delay the Company will execute and will furnish definitive Securities of such series and thereupon any or all temporary Securities of
such series may be surrendered in exchange therefor (without charge to the holders), at the office or agency of the Company designated
for the purpose, and the Trustee shall authenticate and such office or agency shall deliver in exchange for such temporary Securities
an equal aggregate principal amount of definitive Securities of such series, unless the Company advises the Trustee to the effect that
definitive Securities need not be executed and furnished until further notice from the Company. Until so exchanged, the temporary Securities
of such series shall be entitled to the same benefits under this Indenture as definitive Securities of such series authenticated and delivered
hereunder.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 2.07<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Mutilated, Destroyed, Lost or Stolen Securities.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">In case any temporary or definitive Security shall
become mutilated or be destroyed, lost or stolen, the Company (subject to the next succeeding sentence) shall execute, and upon the Company<font style="color: black">&rsquo;</font>s
request the Trustee (subject as aforesaid) shall authenticate and deliver, a new Security of the same series, bearing a number not contemporaneously
outstanding, in exchange and substitution for the mutilated Security, or in lieu of and in substitution for the Security so destroyed,
lost or stolen. In every case the applicant for a substituted Security shall furnish to the Company and the Trustee such security or indemnity
as may be required by them to save each of them harmless, and, in every case of destruction, loss or theft, the applicant shall also furnish
to the Company and the Trustee evidence to their satisfaction of the destruction, loss or theft of the applicant<font style="color: black">&rsquo;</font>s
Security and of the ownership thereof. The Trustee may authenticate any such substituted Security and deliver the same upon the written
request or authorization of any officer of the Company. Upon the issuance of any substituted Security, 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="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">In case any Security that has matured or is about to
mature shall become mutilated or be destroyed, lost or stolen, the Company may, instead of issuing a substitute Security, pay or authorize
the payment of the same (without surrender thereof except in the case of a mutilated Security) if the applicant for such payment shall
furnish to the Company and the Trustee such security or indemnity as they may require to save them harmless, and, in case of destruction,
loss or theft, evidence to the satisfaction of the Company and the Trustee of the destruction, loss or theft of such Security and of the
ownership thereof.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 16; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Every replacement Security issued pursuant to the provisions
of this Section shall constitute an additional contractual obligation of the Company whether or not the mutilated, destroyed, lost or
stolen Security shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally
and proportionately with any and all other Securities of the same series duly issued hereunder. All Securities shall be held and owned
upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment of mutilated, destroyed,
lost or stolen Securities, and shall preclude (to the extent lawful) any and all other rights or remedies, notwithstanding any law or
statute existing or hereafter enacted to the contrary with respect to the replacement or payment of negotiable instruments or other securities
without their surrender.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 2.08<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Cancellation.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">All Securities surrendered for the purpose of payment,
redemption, exchange or registration of transfer shall, if surrendered to the Company or any paying agent, be delivered to the Trustee
for cancellation, or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu thereof except
as expressly required or permitted by any of the provisions of this Indenture. On request of the Company at the time of such surrender,
the Trustee shall deliver to the Company canceled Securities held by the Trustee. In the absence of such request the Trustee may dispose
of canceled Securities in accordance with its standard procedures and deliver a certificate of disposition to the Company. If the Company
shall otherwise acquire any of the Securities, however, such acquisition shall not operate as a redemption or satisfaction of the indebtedness
represented by such Securities unless and until the same are delivered to the Trustee for cancellation.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 2.09<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Benefits of Indenture.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Nothing in this Indenture or in the Securities, express
or implied, shall give or be construed to give to any Person, other than the parties hereto and the holders of the Securities any legal
or equitable right, remedy or claim under or in respect of this Indenture, or under any covenant, condition or provision herein contained;
all such covenants, conditions and provisions being for the sole benefit of the parties hereto and of the holders of the Securities.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 2.10<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Authenticating Agent.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">So long as any of the Securities of any series remain
Outstanding there may be an Authenticating Agent for any or all such series of Securities which the Trustee shall have the right to appoint.
Said Authenticating Agent shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon exchange,
transfer or partial redemption thereof, and Securities so authenticated shall be entitled to the benefits of this Indenture and shall
be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. All references in this Indenture to the authentication
of Securities by the Trustee shall be deemed to include authentication by an Authenticating Agent for such series. Each Authenticating
Agent shall be acceptable to the Company and shall be a corporation that has a combined capital and surplus, as most recently reported
or determined by it, sufficient under the laws of any jurisdiction under which it is organized or in which it is doing business to conduct
a trust business, and that is otherwise authorized under such laws to conduct such business and is subject to supervision or examination
by federal or state authorities. If at any time any Authenticating Agent shall cease to be eligible in accordance with these provisions,
it shall resign immediately.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 17; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Any Authenticating Agent may at any time resign by
giving written notice of resignation to the Trustee and to the Company. The Trustee may at any time (and upon request by the Company shall)
terminate the agency of any Authenticating Agent by giving written notice of termination to such Authenticating Agent and to the Company.
Upon resignation, termination or cessation of eligibility of any Authenticating Agent, the Trustee may appoint an eligible successor Authenticating
Agent acceptable to the Company. Any successor Authenticating Agent, upon acceptance of its appointment hereunder, shall become vested
with all the rights, powers and duties of its predecessor hereunder as if originally named as an Authenticating Agent pursuant hereto.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 2.11<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Global Securities.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(a)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>If the Company shall establish pursuant to Section 2.01 that the Securities of a particular series are to be issued as a Global
Security, then the Company shall execute and the Trustee shall, in accordance with Section 2.04, authenticate and deliver a Global Security
that (i) shall represent, and shall be denominated in an amount equal to the aggregate principal amount of, all of the Outstanding Securities
of such series, (ii) shall be registered in the name of the Depositary or its nominee, (iii) shall be delivered by the Trustee to the
Depositary or pursuant to the Depositary&rsquo;s instruction and (iv) shall bear a legend substantially to the following effect: &ldquo;Except
as otherwise provided in Section 2.11 of the Indenture, this Security may be transferred, in whole but not in part, only to another nominee
of the Depositary or to a successor Depositary or to a nominee of such successor Depositary.&rdquo;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(b)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>Notwithstanding the provisions of Section 2.05, the Global Security of a series may be transferred, in whole but not in part
and in the manner provided in Section 2.05, only to another nominee of the Depositary for such series, or to a successor Depositary for
such series selected or approved by the Company or to a nominee of such successor Depositary.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(c)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>If at any time the Depositary for a series of the Securities notifies the Company that it is unwilling or unable to continue
as Depositary for such series or if at any time the Depositary for such series shall no longer be registered or in good standing under
the Exchange Act, or other applicable statute or regulation, and a successor Depositary for such series is not appointed by the Company
within 90 days after the Company receives such notice or becomes aware of such condition, as the case may be, or if an Event of Default
has occurred and is continuing and the Company has received a request from the Depositary or from the Trustee, this Section 2.11 shall
no longer be applicable to the Securities of such series and the Company will execute, and subject to Section 2.04, the Trustee will authenticate
and deliver the Securities of such series in definitive registered form without coupons, in authorized denominations, and in an aggregate
principal amount equal to the principal amount of the Global Security of such series in exchange for such Global Security. In addition,
the Company may at any time determine that the Securities of any series shall no longer be represented by a Global Security and that the
provisions of this Section 2.11 shall no longer apply to the Securities of such series. In such event the Company will execute and, subject
to Section 2.04, the Trustee, upon receipt of an Officer&rsquo;s Certificate evidencing such determination by the Company, will authenticate
and deliver the Securities of such series in definitive registered form without coupons, in authorized denominations, and in an aggregate
principal amount equal to the principal amount of the Global Security of such series in exchange for such Global Security. Upon the exchange
of the Global Security for such Securities in definitive registered form without coupons, in authorized denominations, the Global Security
shall be canceled by the Trustee. Such Securities in definitive registered form issued in exchange for the Global Security pursuant to
this Section 2.11(c) shall be registered in such names and in such authorized denominations as the Depositary, pursuant to instructions
from its direct or indirect participants or otherwise, shall instruct the Trustee. The Trustee shall deliver such Securities to the Depositary
for delivery to the Persons in whose names such Securities are so registered.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 18; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
3<br>
<br>
REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.01<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Redemption.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Company may redeem the Securities of any series
issued hereunder on and after the dates and in accordance with the terms established for such series pursuant to Section 2.01 hereof.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 3.02<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Notice of Redemption.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(a)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>In case the Company shall desire to exercise such right to redeem all or, as the case may be, a portion of the Securities of
any series in accordance with any right the Company reserved for itself to do so pursuant to Section 2.01 hereof, the Company shall, or
shall cause the Trustee to, give notice of such redemption to holders of the Securities of such series to be redeemed by mailing, first
class postage prepaid, a notice of such redemption not less than 30 days and not more than 90 days before the date fixed for redemption
of that series to such holders at their last addresses as they shall appear upon the Security Register, unless a shorter period is specified
in the Securities to be redeemed. Any notice that is mailed in the manner herein provided shall be conclusively presumed to have been
duly given, whether or not the registered holder receives the notice. In any case, failure duly to give such notice to the holder of any
Security of any series designated for redemption in whole or in part, or any defect in the notice, shall not affect the validity of the
proceedings for the redemption of any other Securities of such series or any other series. In the case of any redemption of Securities
prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture,
the Company shall furnish the Trustee with an Officer&rsquo;s Certificate evidencing compliance with any such restriction.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Each such notice of redemption shall specify the date
fixed for redemption and the redemption price at which Securities of that series are to be redeemed, and shall state that payment of the
redemption price of such Securities to be redeemed will be made at the office or agency of the Company, upon presentation and surrender
of such Securities, that interest accrued to the date fixed for redemption will be paid as specified in said notice, that from and after
said date interest will cease to accrue and that the redemption is from a sinking fund, if such is the case. If less than all the Securities
of a series are to be redeemed, the notice to the holders of Securities of that series to be redeemed in part shall specify the particular
Securities to be so redeemed.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 19; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">In case any Security is to be redeemed in part only,
the notice that relates to such Security shall state the portion of the principal amount thereof to be redeemed, and shall state that
on and after the redemption date, upon surrender of such Security, a new Security or Securities of such series in principal amount equal
to the unredeemed portion thereof will be issued.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(b)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>If less than all the Securities of a series are to be redeemed, the Company shall give the Trustee at least 45 days&rsquo;
notice (unless a shorter notice shall be satisfactory to the Trustee) in advance of the date fixed for redemption as to the aggregate
principal amount of Securities of the series to be redeemed, and thereupon the Trustee shall select, by lot or in such other manner as
it shall deem appropriate and fair in its discretion and that may provide for the selection of a portion or portions (equal to one thousand
U.S. dollars ($1,000) or any integral multiple thereof) of the principal amount of such Securities of a denomination larger than $1,000,
the Securities to be redeemed and shall thereafter promptly notify the Company in writing of the numbers of the Securities to be redeemed,
in whole or in part. The Company may, if and whenever it shall so elect, by delivery of instructions signed on its behalf by an Officer,
instruct the Trustee or any paying agent to call all or any part of the Securities of a particular series for redemption and to give notice
of redemption in the manner set forth in this Section, such notice to be in the name of the Company or its own name as the Trustee or
such paying agent may deem advisable. In any case in which notice of redemption is to be given by the Trustee or any such paying agent,
the Company shall deliver or cause to be delivered to, or permit to remain with, the Trustee or such paying agent, as the case may be,
such Security Register, transfer books or other records, or suitable copies or extracts therefrom, sufficient to enable the Trustee or
such paying agent to give any notice by mail that may be required under the provisions of this Section.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.03<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Payment Upon Redemption.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(a)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>If the giving of notice of redemption shall have been completed as above provided, the Securities or portions of Securities
of the series to be redeemed specified in such notice shall become due and payable on the date and at the place stated in such notice
at the applicable redemption price, together with interest accrued to the date fixed for redemption and interest on such Securities or
portions of Securities shall cease to accrue on and after the date fixed for redemption, unless the Company shall default in the payment
of such redemption price and accrued interest with respect to any such Security or portion thereof. On presentation and surrender of such
Securities on or after the date fixed for redemption at the place of payment specified in the notice, said Securities shall be paid and
redeemed at the applicable redemption price for such series, together with interest accrued thereon to the date fixed for redemption (but
if the date fixed for redemption is an interest payment date, the interest installment payable on such date shall be payable to the registered
holder at the close of business on the applicable record date pursuant to Section 2.03).</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(b)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>Upon presentation of any Security of such series that is to be redeemed in part only, the Company shall execute and the Trustee
shall authenticate and the office or agency where the Security is presented shall deliver to the holder thereof, at the expense of the
Company, a new Security of the same series of authorized denominations in principal amount equal to the unredeemed portion of the Security
so presented.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"></p>

<!-- Field: Page; Sequence: 20; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in">Section 3.04<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Sinking </u></b><u>Fund.</u></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The provisions of Sections 3.04, 3.05 and 3.06 shall
be applicable to any sinking fund for the retirement of Securities of a series, except as otherwise specified as contemplated by Section
2.01 for Securities of such series.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The minimum amount of any sinking fund payment provided
for by the terms of Securities of any series is herein referred to as a <font style="color: black">&ldquo;</font>mandatory sinking fund
payment,<font style="color: black">&rdquo;</font> and any payment in excess of such minimum amount provided for by the terms of Securities
of any series is herein referred to as an <font style="color: black">&ldquo;</font>optional sinking fund payment<font style="color: black">&rdquo;</font>.
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 3.05. Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the terms
of Securities of such series.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.05<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Satisfaction of Sinking </u></b><u>Fund Payments with Securities.</u></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Company (i) may deliver Outstanding Securities
of a series and (ii) may apply as a credit Securities of a series that have been redeemed either at the election of the Company pursuant
to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Securities,
in each case in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series required to
be made pursuant to the terms of such Securities as provided for by the terms of such series, provided that such Securities have not been
previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the redemption 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.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.06<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Redemption of Securities for Sinking </u></b><u>Fund.</u></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Not less than 45 days prior to each sinking fund payment
date for any series of Securities (unless a shorter period shall be satisfactory to the Trustee), the Company will deliver to the Trustee
an Officer<font style="color: black">&rsquo;</font>s Certificate specifying the amount of the next ensuing sinking fund payment for that
series pursuant to the terms of the series, the portion thereof, if any, that is to be satisfied by delivering and crediting Securities
of that series pursuant to Section 3.05 and the basis for such credit and will, together with such Officer<font style="color: black">&rsquo;</font>s
Certificate, deliver to the Trustee any Securities to be so delivered. Not less than 30 days before each such sinking fund payment date
the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 3.02 and
cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section
3.02. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Section
3.03.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 21; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
4<br>
<br>
COVENANTS</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 4.01<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Payment of Principal, Premium and Interest.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Company will duly and punctually pay or cause to
be paid the principal of (and premium, if any) and interest on the Securities of that series at the time and place and in the manner provided
herein and established with respect to such Securities. Payments of principal on the Securities may be made at the time provided herein
and established with respect to such Securities by U.S. dollar check drawn on and mailed to the address of the Securityholder entitled
thereto as such address shall appear in the Security Register, or U.S. dollar wire transfer to, a U.S. dollar account if such Securityholder
shall have furnished wire instructions to the Trustee no later than 15 days prior to the relevant payment date. Payments of interest on
the Securities may be made at the time provided herein and established with respect to such Securities by U.S. dollar check mailed to
the address of the Securityholder entitled thereto as such address shall appear in the Security Register, or U.S. dollar wire transfer
to, a U.S. dollar account if such Securityholder shall have furnished wire instructions in writing to the Security Registrar and the Trustee
no later than 15 days prior to the relevant payment date.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 4.02<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Maintenance of Office or Agency.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">So long as any series of the Securities remain Outstanding,
the Company agrees to maintain an office or agency with respect to each such series and at such other location or locations as may be
designated as provided in this Section 4.02, where (i) Securities of that series may be presented for payment, (ii) Securities of that
series may be presented as herein above authorized for registration of transfer and exchange, and (iii) notices and demands to or upon
the Company in respect of the Securities of that series and this Indenture may be given or served, such designation to continue with respect
to such office or agency until the Company shall, by written notice signed by any officer authorized to sign an Officer<font style="color: black">&rsquo;</font>s
Certificate and delivered to the Trustee, designate some other office or agency for such purposes or any of them. If at any time the Company
shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations,
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, notices and demands. The Company initially appoints the Corporate Trust Office of the Trustee
as its paying agent with respect to the Securities.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.03<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Paying Agents.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(a)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>If the Company shall appoint one or more paying agents for all or any series of the Securities, other than the Trustee, the
Company will cause each such paying agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the
Trustee, subject to the provisions of this Section:</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(1)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>that it will hold all sums held by it as such agent for the payment of the principal of (and premium, if any) or interest on
the Securities of that series (whether such sums have been paid to it by the Company or by any other obligor of such Securities) in trust
for the benefit of the Persons entitled thereto;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b></b></p>

<!-- Field: Page; Sequence: 22; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in"><b>(2)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>that it will give the Trustee notice of any failure by the Company (or by any other obligor of such Securities) to make any
payment of the principal of (and premium, if any) or interest on the Securities of that series when the same shall be due and payable;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(3)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>that it will, at any time during the continuance of any failure referred to in the preceding paragraph (a)(2) above, upon the
written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such paying agent; and</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(4)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>that it will perform all other duties of paying agent as set forth in this Indenture.</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(b)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>If the Company shall act as its own paying agent with respect to any series of the Securities, it will on or before each due
date of the principal of (and premium, if any) or interest on Securities of that series, set aside, segregate and hold in trust for the
benefit of the Persons entitled thereto a sum sufficient to pay such principal (and premium, if any) or interest so becoming due on Securities
of that series until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the
Trustee of such action, or any failure (by it or any other obligor on such Securities) to take such action. Whenever the Company shall
have one or more paying agents for any series of Securities, it will, prior to each due date of the principal of (and premium, if any)
or interest on any Securities of that series, deposit with the paying agent a sum sufficient to pay the principal (and premium, if any)
or interest so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal, premium or interest,
and (unless such paying agent is the Trustee) the Company will promptly notify the Trustee of this action or failure so to act.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(c)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>Notwithstanding anything in this Section to the contrary, (i) the agreement to hold sums in trust as provided in this Section
is subject to the provisions of Section 11.05, and (ii) the Company may at any time, for the purpose of obtaining the satisfaction and
discharge of this Indenture or for any other purpose, pay, or direct any paying agent to pay, to the Trustee all sums held in trust by
the Company or such paying agent, such sums to be held by the Trustee upon the same terms and conditions as those upon which such sums
were held by the Company or such paying agent; and, upon such payment by the Company or any paying agent to the Trustee, the Company or
such paying agent shall be released from all further liability with respect to such money.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.04<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Appointment to </u></b><u>Fill Vacancy in Office of Trustee.</u></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Company, whenever necessary to avoid or fill a
vacancy in the office of Trustee, will appoint, in the manner provided in Section 7.10, a Trustee, so that there shall at all times be
a Trustee hereunder.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.05<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Compliance with Consolidation Provisions.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Company will not, while any of the Securities remain
Outstanding, consolidate with or merge into any other Person, in either case where the Company is not the survivor of such transaction,
or sell or convey all or substantially all of its property to any other Person unless the provisions of Article 10 hereof are complied
with.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 23; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
5<br>
<br>
SECURITYHOLDERS&rsquo; LISTS AND REPORTS BY THE<br>
COMPANY AND THE TRUSTEE</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 5.01<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Company to </u></b><u>Furnish Trustee Names and Addresses of Securityholders.</u></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Company will furnish or cause to be furnished to
the Trustee (a) within 15 days after each regular record date (as defined in Section 2.03) a list, in such form as the Trustee may reasonably
require, of the names and addresses of the holders of each series of Securities as of such regular record date, provided that the Company
shall not be obligated to furnish or cause to furnish such list at any time that the list shall not differ in any respect from the most
recent list furnished to the Trustee by the Company and (b) at such other times as the Trustee may request in writing within 30 days after
the receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days prior to the time
such list is furnished; provided, however, that, in either case, no such list need be furnished for any series for which the Trustee shall
be the Security Registrar.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 5.02<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Preservation Of Information; Communications With Securityholders.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(a)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses
of the holders of Securities contained in the most recent list furnished to it as provided in Section 5.01 and as to the names and addresses
of holders of Securities received by the Trustee in its capacity as Security Registrar (if acting in such capacity).</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(b)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>The Trustee may destroy any list furnished to it as provided in Section 5.01 upon receipt of a new list so furnished.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(c)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>Securityholders may communicate as provided in Section 312(b) of the Trust Indenture Act with other Securityholders with respect
to their rights under this Indenture or under the Securities, and, in connection with any such communications, the Trustee shall satisfy
its obligations under Section 312(b) of the Trust Indenture Act in accordance with the provisions of Section 312(b) of the Trust Indenture
Act.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 5.03<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Reports by the Company.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(a)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>The Company covenants and agrees to provide (which delivery may be via electronic mail) to the Trustee within 30 days, after
the Company files the same with the Commission, 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 Commission may from time to time by rules and regulations prescribe) that the Company
is required to file with the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; provided, however, the Company shall
not be required to deliver to the Trustee any materials for which the Company has sought and received confidential treatment by the Commission;
and provided further, that so long as such filings by the Company are available on the Commission&rsquo;s Electronic Data Gathering, Analysis
and Retrieval System (EDGAR), or Interactive Data Electronic Applications (IDEA), or any successor system, such filings shall be deemed
to have been filed with the Trustee for purposes hereof without any further action required by the Company; provided that an electronic
link to such filing, together with an electronic notice of such filing have been sent to the Trustee. For the avoidance of doubt, a failure
by the Company to file annual reports, information and other reports with the SEC within the time period prescribed thereof by the Commission
shall not be deemed a breach of this Section 5.03.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 24; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><b>(b)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>Delivery of reports, information and documents to the Trustee under this Section 5.03 is for informational purposes only and
the information and the Trustee&rsquo;s receipt of the foregoing shall not constitute constructive notice of any information contained
therein, or determinable from information contained therein including the Company&rsquo;s compliance with any of their covenants thereunder
(as to which the Trustee is entitled to rely exclusively on an Officer&rsquo;s Certificate).</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 5.04<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Reports by the Trustee.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(a)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>If required by Section 313(a) of the Trust Indenture Act, the Trustee, within 60 days after each May 1, shall transmit by mail,
first class postage prepaid, to the Securityholders, as their names and addresses appear upon the Security Register, a brief report dated
as of such May 1, which complies with Section 313(a) of the Trust Indenture Act.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(b)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>The Trustee shall comply with Sections 313(b) and 313(c) of the Trust Indenture Act.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(c)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>A copy of each such report shall, at the time of such transmission to Securityholders, be filed by the Trustee with the Company,
with each securities exchange upon which any Securities are listed (if so listed) and also with the Commission. The Company agrees to
notify the Trustee when any Securities become listed on any securities exchange.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">ARTICLE
6<br>
<br>
REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 6.01<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Events of Default.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(a)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>Whenever used herein with respect to Securities of a particular series, &ldquo;Event of Default&rdquo; means any one or more
of the following events that has occurred and is continuing:</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(1)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>the Company defaults in the payment of any installment of interest upon any of the Securities of that series, as and when the
same shall become due and payable, and such default continues for a period of 90 days; provided, however, that a valid extension of an
interest payment period by the Company in accordance with the terms of any indenture supplemental hereto shall not constitute a default
in the payment of interest for this purpose;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 25; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in"><b>(2)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>the Company defaults in the payment of the principal of (or premium, if any, on) any of the Securities of that series as and
when the same shall become due and payable whether at maturity, upon redemption, by declaration or otherwise, or in any payment required
by any sinking or analogous fund established with respect to that series; provided, however, that a valid extension of the maturity of
such Securities in accordance with the terms of any indenture supplemental hereto shall not constitute a default in the payment of principal
or premium, if any;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(3)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>the Company fails to observe or perform any other of its covenants or agreements with respect to that series contained in this
Indenture or otherwise established with respect to that series of Securities pursuant to Section 2.01 hereof (other than a covenant or
agreement that has been expressly included in this Indenture solely for the benefit of one or more series of Securities other than such
series) for a period of 90 days after the date on which written notice of such failure, requiring the same to be remedied and stating
that such notice is a &ldquo;Notice of Default&rdquo; hereunder, shall have been given to the Company by the Trustee, by registered or
certified mail, or to the Company and the Trustee by the holders of at least 25% in principal amount of the Securities of that series
at the time Outstanding;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in"><b>(4) </b>the Company pursuant to or within
the meaning of any Bankruptcy Law (i) commences a voluntary case, (ii) consents to the entry of an order for relief against it in an involuntary
case, (iii) consents to the appointment of a Custodian of it or for all or substantially all of its property or (iv) makes a general assignment
for the benefit of its creditors; or</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(4)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>a court of competent jurisdiction enters an order under any Bankruptcy Law that (i) is for relief against the Company in an
involuntary case, (ii) appoints a Custodian of the Company for all or substantially all of its property or (iii) orders the liquidation
of the Company, and the order or decree remains unstayed and in effect for 90 days.</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(b)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>In each and every such case (other than an Event of Default specified in clause (4) or clause (5) above), unless the principal
of all the Securities of that series shall have already become due and payable, either the Trustee or the holders of not less than 25%
in aggregate principal amount of the Securities of that series then Outstanding hereunder, by notice in writing to the Company (and to
the Trustee if given by such Securityholders), may declare the principal of (and premium, if any, on) and accrued and unpaid interest
on all the Securities of that series to be due and payable immediately, and upon any such declaration the same shall become and shall
be immediately due and payable. If an Event of Default specified in clause (4) or clause (5) above occurs, the principal of and accrued
and unpaid interest on all the Securities of that series shall automatically be immediately due and payable without any declaration or
other act on the part of the Trustee or the holders of the Securities.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(c)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>At any time after the principal of (and premium, if any, on) and accrued and unpaid interest on the Securities of that series
shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained
or entered as hereinafter provided, the holders of a majority in aggregate principal amount of the Securities of that series then Outstanding
hereunder, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if (i) the Company
has paid or deposited with the Trustee a sum sufficient to pay all matured installments of interest upon all the Securities of that series
and the principal of (and premium, if any, on) any and all Securities of that series that shall have become due otherwise than by acceleration
(with interest upon such principal and premium, if any, and, to the extent that such payment is enforceable under applicable law, upon
overdue installments of interest, at the rate per annum expressed in the Securities of that series to the date of such payment or deposit)
and the amount payable to the Trustee under Section 7.06, and (ii) any and all Events of Default under this Indenture with respect to
such series, other than the nonpayment of principal on (and premium, if any, on) and accrued and unpaid interest on Securities of that
series that shall not have become due by their terms, shall have been remedied or waived as provided in Section 6.06.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 26; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">No such rescission and annulment shall extend to or
shall affect any subsequent default or impair any right consequent thereon.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(d)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>In case the Trustee shall have proceeded to enforce any right with respect to Securities of that series under this Indenture
and such proceedings shall have been discontinued or abandoned because of such rescission or annulment or for any other reason or shall
have been determined adversely to the Trustee, then and in every such case, subject to any determination in such proceedings, the Company
and the Trustee shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of
the Company and the Trustee shall continue as though no such proceedings had been taken.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 6.02<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Collection of Indebtedness and Suits for Enforcement by Trustee.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(a)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>The Company covenants that (i) in case it shall default in the payment of any installment of interest on any of the Securities
of a series, or in any payment required by any sinking or analogous fund established with respect to that series as and when the same
shall have become due and payable, and such default shall have continued for a period of 90 days, or (ii) in case it shall default in
the payment of the principal of (or premium, if any, on) any of the Securities of a series when the same shall have become due and payable,
whether upon maturity of the Securities of a series or upon redemption or upon declaration or otherwise then, upon demand of the Trustee,
the Company will pay to the Trustee, for the benefit of the holders of the Securities of that series, the whole amount that then shall
have been become due and payable on all such Securities for principal (and premium, if any) or interest, or both, as the case may be,
with interest upon the overdue principal (and premium, if any) and (to the extent that payment of such interest is enforceable under applicable
law) upon overdue installments of interest at the rate per annum expressed in the Securities of that series; and, in addition thereto,
such further amount as shall be sufficient to cover the costs and expenses of collection, and the amount payable to the Trustee under
Section 7.06.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(b)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>If the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an
express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums
so due and unpaid, and may prosecute any such action or proceeding to judgment or final decree, and may enforce any such judgment or final
decree against the Company or other obligor upon the Securities of that series and collect the moneys adjudged or decreed to be payable
in the manner provided by law or equity out of the property of the Company or other obligor upon the Securities of that series, wherever
situated.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 27; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><b>(c)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>In case of any receivership, insolvency, liquidation, bankruptcy, reorganization, readjustment, arrangement, composition or
judicial proceedings affecting the Company, or its creditors or property, the Trustee shall have power to intervene in such proceedings
and take any action therein that may be permitted by the court and shall (except as may be otherwise provided by law) be entitled to file
such proofs of claim and other papers and documents as may be necessary or advisable in order to have the claims of the Trustee and of
the holders of Securities of such series allowed for the entire amount due and payable by the Company under this Indenture at the date
of institution of such proceedings and for any additional amount that may become due and payable by the Company after such date, and to
collect and receive any moneys or other property payable or deliverable on any such claim, and to distribute the same after the deduction
of the amount payable to the Trustee under Section 7.06; and any receiver, assignee or trustee in bankruptcy or reorganization is hereby
authorized by each of the holders of Securities of such series to make such payments to the Trustee, and, in the event that the Trustee
shall consent to the making of such payments directly to such Securityholders, to pay to the Trustee any amount due it under Section 7.06.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(d)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>All rights of action and of asserting claims under this Indenture, or under any of the terms established with respect to Securities
of that series, may be enforced by the Trustee without the possession of any of such Securities, or the production thereof at any trial
or other proceeding relative thereto, and any such suit or 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 payment to the Trustee of any amounts due under Section 7.06,
be for the ratable benefit of the holders of the Securities of such series.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">In case of an Event of Default hereunder, the Trustee
may in its discretion proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings
as the Trustee shall deem most effectual to protect and enforce any of such rights, either at law or in equity or in bankruptcy or otherwise,
whether for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted
in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Nothing contained herein shall be deemed to authorize
the Trustee to authorize or consent to or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment
or composition affecting the Securities of that series or the rights of any holder thereof or to authorize the Trustee to vote in respect
of the claim of any Securityholder in any such proceeding.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 6.03<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Application of Moneys Collected.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Any moneys collected by the Trustee pursuant to this
Article with respect to a particular series of Securities shall be applied in the following order, at the date or dates fixed by the Trustee
and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest, upon presentation of the Securities
of that series, and notation thereon of the payment, if only partially paid, and upon surrender thereof if fully paid:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 28; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">FIRST: To the payment of reasonable costs and expenses
of collection and of all amounts payable to the Trustee under Section 7.06;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">SECOND: To the payment of the amounts then due and
unpaid upon Securities of such series for principal (and premium, if any) and interest, 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 premium, if any) and interest, respectively; and</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">THIRD: To the payment of the remainder, if any, to
the Company or any other Person lawfully entitled thereto.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.04<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Limitation on Suits.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">No holder of any Security of any series shall have
any right by virtue or by availing of any provision of this Indenture to institute any suit, action or proceeding in equity or at law
upon or under or with respect to this Indenture or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless
(i) such holder previously shall have given to the Trustee written notice of an Event of Default and of the continuance thereof with respect
to the Securities of such series specifying such Event of Default, as hereinbefore provided; (ii) the holders of not less than 25% in
aggregate principal amount of the Securities of such series then Outstanding shall have made written request upon the Trustee to institute
such action, suit or proceeding in its own name as Trustee hereunder; (iii) such holder or holders shall have offered to the Trustee such
reasonable indemnity as it may require against the costs, expenses and liabilities to be incurred therein or thereby; (iv) the Trustee
for 90 days after its receipt of such notice, request and offer of indemnity, shall have failed to institute any such action, suit or
proceeding; and (v) during such 90 day period, the holders of a majority in principal amount of the Securities of that series do not give
the Trustee a direction inconsistent with the request.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Notwithstanding anything contained herein to the contrary
or any other provisions of this Indenture, the right of any holder of any Security to receive payment of the principal of (and premium,
if any) and interest on such Security, as therein provided, on or after the respective due dates expressed in such Security (or in the
case of redemption, on the redemption date), or to institute suit for the enforcement of any such payment on or after such respective
dates or redemption date, shall not be impaired or affected without the consent of such holder and by accepting a Security hereunder it
is expressly understood, intended and covenanted by the taker and holder of every Security of such series with every other such taker
and holder and the Trustee, that no one or more holders of Securities of such series shall have any right in any manner whatsoever by
virtue or by availing of any provision of this Indenture to affect, disturb or prejudice the rights of the holders of any other of such
Securities, or to obtain or seek to obtain priority over or preference to any other such holder, or to enforce any right under this Indenture,
except in the manner herein provided and for the equal, ratable and common benefit of all holders of Securities of such series. For the
protection and enforcement of the provisions of this Section, each and every Securityholder and the Trustee shall be entitled to such
relief as can be given either at law or in equity.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"></p>

<!-- Field: Page; Sequence: 29; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in">Section 6.05<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Rights and Remedies Cumulative; Delay or Omission Not Waiver.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><b>(a) </b>Except as otherwise provided in Section
2.07, all powers and remedies given by this Article to the Trustee or to the Securityholders shall, to the extent permitted by law, be
deemed cumulative and not exclusive of any other powers and remedies available to the Trustee or the holders of the Securities, by judicial
proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained in this Indenture or otherwise
established with respect to such Securities.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><b>(b) </b>No delay or omission of the Trustee or of
any holder of any of the Securities to exercise any right or power accruing upon any Event of Default occurring and continuing as aforesaid
shall impair any such right or power, or shall be construed to be a waiver of any such default or an acquiescence therein; and, subject
to the provisions of Section 6.04, every power and remedy given by this Article or by law to the Trustee or the Securityholders may be
exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the Securityholders.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.06<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Control by Securityholders.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The holders of a majority in aggregate principal amount
of the Securities of any series at the time Outstanding, determined in accordance with Section 8.04, 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 such series; provided, however, that such direction shall not be in conflict with any rule of law or with
this Indenture or subject the Trustee in its sole discretion to personal liability. Subject to the provisions of Section 7.01, the Trustee
shall have the right to decline to follow any such direction if the Trustee in good faith shall, by a Responsible Officer or officers
of the Trustee, determine that the proceeding so directed, subject to the Trustee<font style="color: black">&rsquo;</font>s duties under
the Trust Indenture Act, would involve the Trustee in personal liability or might be unduly prejudicial to the Securityholders not involved
in the proceeding. The holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding affected
thereby, determined in accordance with Section 8.04, may on behalf of the holders of all of the Securities of such series waive any past
default in the performance of any of the covenants contained herein or established pursuant to Section 2.01 with respect to such series
and its consequences, except a default in the payment of the principal of, or premium, if any, or interest on, any of the Securities of
that series as and when the same shall become due by the terms of such Securities otherwise than by acceleration (unless such default
has been cured and a sum sufficient to pay all matured installments of interest and principal and any premium has been deposited with
the Trustee (in accordance with Section 6.01(c)). Upon any such waiver, the default covered thereby shall be deemed to be cured for all
purposes of this Indenture and the Company, the Trustee and the holders of the Securities of such series shall be restored to their former
positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other default or impair any right consequent
thereon.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"></p>

<!-- Field: Page; Sequence: 30; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in">Section 6.07<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Undertaking to Pay Costs.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">All parties to this Indenture agree, and each holder
of any Securities by such holder<font style="color: black">&rsquo;</font>s 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 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<font style="color: black">&rsquo;</font>
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 shall not apply to any suit instituted by the Trustee, to any suit instituted by any Securityholder,
or group of Securityholders, holding more than 10% in aggregate principal amount of the Outstanding Securities of any series, or to any
suit instituted by any Securityholder for the enforcement of the payment of the principal of (or premium, if any) or interest on any Security
of such series, on or after the respective due dates expressed in such Security or established pursuant to this Indenture.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">ARTICLE
7<br>
<br>
CONCERNING THE TRUSTEE</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 7.01<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Certain Duties and Responsibilities of Trustee.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(a)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>The Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a series and after the curing
of all Events of Default with respect to the Securities of that series that may have occurred, shall undertake to perform with respect
to the Securities of such series such duties and only such duties as are specifically set forth in this Indenture, and no implied covenants
shall be read into this Indenture against the Trustee. In case an Event of Default with respect to the Securities of a series has occurred
(that has not been cured or waived), the Trustee shall exercise with respect to Securities of that series such of the rights and powers
vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent man would exercise or use under
the circumstances in the conduct of his own affairs.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(b)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own
negligent failure to act, or its own willful misconduct, except that:</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(i)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>prior to the occurrence of an Event of Default with respect to the Securities of a series and after the curing or waiving of
all such Events of Default with respect to that series that may have occurred:</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in"><b>(A)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>the duties and obligations of the Trustee shall with respect to the Securities of such series be determined solely by the express
provisions of this Indenture, and the Trustee shall not be liable with respect to the Securities of such series except for the performance
of such duties and obligations as are specifically set forth in this Indenture, and no implied covenants or obligations shall be read
into this Indenture against the Trustee; and</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 31; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0 0pt 1in; font-size: 10pt; text-align: justify; text-indent: 0.5in"><b>(B)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>in the absence of bad faith on the part of the Trustee, the Trustee may with respect to the Securities of such series conclusively
rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished
to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions that by any
provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine
whether or not they conform to the requirements of this Indenture;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(i)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer or Responsible Officers
of the Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(ii)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with
the direction of the holders of not less than a majority in principal amount of the Securities of any series at the time Outstanding 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 that series; and</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(iii)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>none of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur
personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers if there is reasonable
ground for believing that the repayment of such funds or liability is not reasonably assured to it under the terms of this Indenture or
adequate indemnity against such risk is not reasonably assured to it.</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 7.02<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Certain Rights of Trustee.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Except a&rsquo;s otherwise provided in Section 7.01:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(a)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>The Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement,
instrument, opinion, report, notice, request, consent, order, approval, bond, security or other paper or document believed by it to be
genuine and to have been signed or presented by the proper party or parties;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(b)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>Any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by a Board Resolution
or an instrument signed in the name of the Company by any authorized officer of the Company (unless other evidence in respect thereof
is specifically prescribed herein);</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(c)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>The Trustee may consult with counsel and the written advice of such counsel or, if requested, any Opinion of Counsel shall
be full and complete authorization and protection in respect of any action taken or suffered or omitted hereunder in good faith and in
reliance thereon;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(d)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request,
order or direction of any of the Securityholders pursuant to the provisions of this Indenture, unless such Securityholders shall have
offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities that may be incurred therein or thereby;
nothing contained herein shall, however, relieve the Trustee of the obligation, upon the occurrence of an Event of Default with respect
to a series of the Securities (that has not been cured or waived), to exercise with respect to Securities of that series such of the rights
and powers vested in it by this Indenture, and to use the same degree of care and skill in their exercise, as a prudent man would exercise
or use under the circumstances in the conduct of his own affairs;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 32; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><b>(e)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>The Trustee shall not be liable for any action taken or omitted to be taken by it in good faith and believed by it to be authorized
or within the discretion or rights or powers conferred upon it by this Indenture;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(f)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>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, consent, order, approval, bond, security, or other papers or documents, unless requested
in writing so to do by the holders of not less than a majority in principal amount of the Outstanding Securities of the particular series
affected thereby (determined as provided in Section 8.04); provided, however, that if the payment within a reasonable time to the Trustee
of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee,
not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require reasonable
indemnity against such costs, expenses or liabilities as a condition to so proceeding. The reasonable expense of every such examination
shall be paid by the Company or, if paid by the Trustee, shall be repaid by the Company upon demand;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(g)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>The Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through
agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed
with due care by it hereunder;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(h)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder
arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages,
accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions,
loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall
use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable
under the circumstances;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(i)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>In no event shall the Trustee be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever
(including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or
damage and regardless of the form of action; and</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(j)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture sent by unsecured e-mail, facsimile
transmission or other similar unsecured electronic methods; provided, however, that (a) the party providing such written instructions,
subsequent to such transmission of written instructions, shall provide the originally executed instructions or directions to the Trustee
in a timely manner, and (b) such originally executed instructions or directions shall be signed by an authorized representative of the
party providing such instructions or directions. If the party elects to give the Trustee e-mail or facsimile instructions (or instructions
by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee&rsquo;s understanding
of such instructions shall be deemed controlling. The Trustee shall not be liable for any losses, costs or expenses arising directly or
indirectly from the Trustee&rsquo;s reliance upon and compliance with such instructions notwithstanding such instructions conflict or
are inconsistent with a subsequent written instruction. The party providing electronic instructions agrees to assume all risks arising
out of the use of such electronic methods to submit instructions and directions to the Trustee, including without limitation the risk
of the Trustee acting on unauthorized instructions, and the risk or interception and misuse by third parties.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 33; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">In addition, the Trustee shall not be deemed to have
knowledge of any Default or Event of Default until the Trustee shall have received written notification in the manner set forth in this
Indenture or a Responsible Officer of the Trustee shall have obtained actual knowledge.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 7.03<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Trustee Not Responsible for Recitals or Issuance or Securities.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(a)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>The recitals contained herein and in the Securities shall be taken as the statements of the Company, and the Trustee assumes
no responsibility for the correctness of the same.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(b)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(c)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font>&#8239; </b>The Trustee shall not be accountable for the use or application by the Company of any of the Securities or of the proceeds
of such Securities, or for the use or application of any moneys paid over by the Trustee in accordance with any provision of this Indenture
or established pursuant to Section 2.01, or for the use or application of any moneys received by any paying agent other than the Trustee.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 7.04<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>May Hold Securities.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Trustee or any paying agent or Security Registrar,
in its individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not
Trustee, paying agent or Security Registrar.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 7.05<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Moneys Held in Trust.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Subject to the provisions of Section 11.05, all moneys
received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received,
but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest
on any moneys received by it hereunder except such as it may agree with the Company to pay thereon.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 7.06<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Compensation and Reimbursement.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(a)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>The Company covenants and agrees to pay to the Trustee, and the Trustee shall be entitled to, such reasonable compensation
(which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) as the Company and
the Trustee may from time to time agree in writing, for all services rendered by it in the execution of the trusts hereby created and
in the exercise and performance of any of the powers and duties hereunder of the Trustee, and, except as otherwise expressly provided
herein, the Company will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred
or made by the Trustee in accordance with any of the provisions of this Indenture (including the reasonable compensation and the expenses
and disbursements of its counsel and of all Persons not regularly in its employ), except any such expense, disbursement or advance as
may arise from its negligence or bad faith and except as the Company and Trustee may from time to time agree in writing. The Company also
covenants to indemnify the Trustee (and its officers, agents, directors and employees) for, and to hold it harmless against, any loss,
liability or expense incurred without negligence or bad faith on the part of the Trustee and arising out of or in connection with the
acceptance or administration of this trust, including the reasonable costs and expenses of defending itself against any claim of liability
in the premises.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 34; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><b>(b)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>The obligations of the Company under this Section to compensate and indemnify the Trustee and to pay or reimburse the Trustee
for reasonable expenses, disbursements and advances shall constitute additional indebtedness hereunder. Such additional indebtedness shall
be secured by a lien prior to that of the Securities upon all property and funds held or collected by the Trustee as such, except funds
held in trust for the benefit of the holders of particular Securities.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 7.07<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Reliance on Officer&rsquo;s Certificate.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Except as otherwise provided in Section 7.01, whenever
in the administration of the provisions of this Indenture the Trustee shall deem it reasonably necessary or desirable that a matter be
proved or established prior to taking or suffering or omitting to take any action hereunder, such matter (unless other evidence in respect
thereof be herein specifically prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to be
conclusively proved and established by an Officer<font style="color: black">&rsquo;</font>s Certificate delivered to the Trustee and such
certificate, in the absence of negligence or bad faith on the part of the Trustee, shall be full warrant to the Trustee for any action
taken, suffered or omitted to be taken by it under the provisions of this Indenture upon the faith thereof.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 7.08<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Disqualification; Conflicting Interests.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">If the Trustee has or shall acquire any <font style="color: black">&ldquo;</font>conflicting
interest<font style="color: black">&rdquo;</font> within the meaning of Section 310(b) of the Trust Indenture Act, the Trustee and the
Company shall in all respects comply with the provisions of Section 310(b) of the Trust Indenture Act.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 7.09<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Corporate Trustee Required; Eligibility.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">There shall at all times be a Trustee with respect
to the Securities issued hereunder which shall at all times be a corporation organized and doing business under the laws of the United
States of America or any state or territory thereof or of the District of Columbia, or a corporation or other Person permitted to act
as trustee by the Commission, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of
at least fifty million U.S. dollars ($50,000,000), and subject to supervision or examination by federal, state, territorial, or District
of Columbia authority.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 35; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">If such corporation or other Person publishes reports
of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the
purposes of this Section, the combined capital and surplus of such corporation or other Person shall be deemed to be its combined capital
and surplus as set forth in its most recent report of condition so published. The Company may not, nor may any Person directly or indirectly
controlling, controlled by, or under common control with the Company, serve as Trustee. In case at any time the Trustee shall cease to
be eligible in accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect
specified in Section 7.10.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 7.10<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Resignation and Removal; Appointment of Successor.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(a)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>The Trustee or any successor hereafter appointed may at any time resign with respect to the Securities of one or more series
by giving written notice thereof to the Company and by transmitting notice of resignation by mail, first class postage prepaid, to the
Securityholders of such series, as their names and addresses appear upon the Security Register. Upon receiving such notice of resignation,
the Company shall promptly appoint a successor trustee with respect to Securities of such series by written instrument, in duplicate,
executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to
the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the mailing
of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor
trustee with respect to Securities of such series, or any Securityholder of that series who has been a bona fide holder of a Security
or Securities for at least six months may on behalf of himself and all others similarly situated, petition any such court for the appointment
of a successor trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(b)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>In case at any time any one of the following shall occur:</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(i)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>the Trustee shall fail to comply with the provisions of Section 7.08 after written request therefor by the Company or by any
Securityholder who has been a bona fide holder of a Security or Securities for at least six months; or</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(ii)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>the Trustee shall cease to be eligible in accordance with the provisions of Section 7.09 and shall fail to resign after written
request therefor by the Company or by any such Securityholder; or</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><b>(iii)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or commence a voluntary bankruptcy
proceeding, or a receiver of the Trustee or of its property shall be appointed or consented to, or any public officer shall take charge
or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">then, in any such case, the Company may remove the
Trustee with respect to all Securities and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board
of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or any
Securityholder who has been a bona fide holder of a Security or Securities for at least six months may, on behalf of that holder and all
others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor
trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor
trustee.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 36; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><b>(c)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>The holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding may at any
time remove the Trustee with respect to such series by so notifying the Trustee and the Company and may appoint a successor Trustee for
such series with the consent of the Company.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(d)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>Any resignation or removal of the Trustee and appointment of a successor trustee with respect to the Securities of a series
pursuant to any of the provisions of this Section shall become effective upon acceptance of appointment by the successor trustee as provided
in Section 7.11.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(e)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>Any successor trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series
or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 7.11<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Acceptance of Appointment By Successor.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(a)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>In case of the appointment hereunder of a successor trustee with respect to all Securities, every such successor trustee so
appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment,
and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor trustee, without any further
act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request
of the Company or the successor trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring
to such successor trustee all the rights, powers, and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such
successor trustee all property and money held by such retiring Trustee hereunder.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(b)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>In case of the appointment hereunder of a successor trustee with respect to the Securities of one or more (but not all) series,
the Company, the retiring Trustee and each successor trustee with respect to the Securities of one or more series shall execute and deliver
an indenture supplemental hereto wherein each successor trustee shall accept such appointment and which (i) shall contain such provisions
as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor trustee all the rights, powers, trusts and
duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor trustee
relates, (ii) shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and
duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring
shall continue to be vested in the retiring Trustee, and (iii) shall add to or change any of the provisions of this Indenture as shall
be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that
nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust, that each such Trustee
shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee
and that no Trustee shall be responsible for any act or failure to act on the part of any other Trustee hereunder; and upon the execution
and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided
therein, such retiring Trustee shall with respect to the Securities of that or those series to which the appointment of such successor
trustee relates have no further responsibility for the exercise of rights and powers or for the performance of the duties and obligations
vested in the Trustee under this Indenture, and each such successor trustee, without any further act, deed or conveyance, shall become
vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to
which the appointment of such successor trustee relates; but, on request of the Company or any successor trustee, such retiring Trustee
shall duly assign, transfer and deliver to such successor trustee, to the extent contemplated by such supplemental indenture, the property
and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such
successor trustee relates.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b></b></p>

<!-- Field: Page; Sequence: 37; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><b>(c)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>Upon request of any such successor trustee, the Company shall execute any and all instruments for more fully and certainly
vesting in and confirming to such successor trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section,
as the case may be.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(d)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font>&#8239;&#8239;</b>No successor trustee shall accept its appointment unless at the time of such acceptance such successor trustee
shall be qualified and eligible under this Article.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(e)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>Upon acceptance of appointment by a successor trustee as provided in this Section, the Company shall transmit notice of the
succession of such trustee hereunder by mail, first class postage prepaid, to the Securityholders, as their names and addresses appear
upon the Security Register. If the Company fails to transmit such notice within ten days after acceptance of appointment by the successor
trustee, the successor trustee shall cause such notice to be transmitted at the expense of the Company.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 7.12<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Merger, Conversion, Consolidation or Succession to Business.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Any corporation into which the Trustee may be merged
or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which
the Trustee shall be a party, or any corporation succeeding to the corporate trust business of the Trustee, including the administration
of the trust created by this Indenture, shall be the successor of the Trustee hereunder, provided that such corporation shall be qualified
under the provisions of Section 7.08 and eligible under the provisions of Section 7.09, without the execution or filing of any paper or
any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. In case any Securities shall
have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such
authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor
Trustee had itself authenticated such Securities.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"></p>

<!-- Field: Page; Sequence: 38; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in"><b>Section 7.13<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Preferential Collection of Claims Against the Company.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Trustee shall comply with Section 311(a) of the
Trust Indenture Act, excluding any creditor relationship described in Section 311(b) of the Trust Indenture Act. A Trustee who has resigned
or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent included therein.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 7.14<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Notice of Default.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">If any Event of Default occurs and is continuing and
if such Event of Default is known to a Responsible Officer of the Trustee, the Trustee shall mail to each Securityholder in the manner
and to the extent provided in Section 313(c) of the Trust Indenture Act notice of the Event of Default within the earlier of 90 days after
it occurs and 30 days after it is known to a Responsible Officer of the Trustee or written notice of it is received by the Trustee, unless
such Event of Default has been cured; provided, however , that, except in the case of a default in the payment of the principal of (or
premium, if any) or interest on any Security, the Trustee shall be protected in withholding such notice if and so long as the board of
directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Trustee in good faith determine
that the withholding of such notice is in the interest of the Securityholders.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">ARTICLE
8<br>
<br>
CONCERNING THE SECURITYHOLDERS</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 8.01<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Evidence of Action by Securityholders.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Whenever in this Indenture it is provided that the
holders of a majority or specified percentage in aggregate principal amount of the Securities of a particular series may take any action
(including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact
that at the time of taking any such action the holders of such majority or specified percentage of that series have joined therein may
be evidenced by any instrument or any number of instruments of similar tenor executed by such holders of Securities of that series in
person or by agent or proxy appointed in writing.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">If the Company shall solicit from the Securityholders
of any series any request, demand, authorization, direction, notice, consent, waiver or other action, the Company may, at its option,
as evidenced by an Officer<font style="color: black">&rsquo;</font>s Certificate, fix in advance a record date for such series for the
determination of Securityholders entitled to give such request, demand, authorization, direction, notice, consent, waiver or other action,
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 action may be given before or after the record date, but only the Securityholders of record at the close of business
on the record date shall be deemed to be Securityholders for the purposes of determining whether Securityholders of the requisite proportion
of Outstanding Securities of that series have authorized or agreed or consented to such request, demand, authorization, direction, notice,
consent, waiver or other action, and for that purpose the Outstanding Securities of that series shall be computed as of the record date;
provided, however, that no such authorization, agreement or consent by such Securityholders on the 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="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"></p>

<!-- Field: Page; Sequence: 39; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in"><b>Section 8.02<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Proof of Execution by Securityholders.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Subject to the provisions of Section 7.01, proof of
the execution of any instrument by a Securityholder (such proof will not require notarization) or his agent or proxy and proof of the
holding by any Person of any of the Securities shall be sufficient if made in the following manner:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(a)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>The fact and date of the execution by any such Person of any instrument may be proved in any reasonable manner acceptable to
the Trustee.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(b)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>The ownership of Securities shall be proved by the Security Register of such Securities or by a certificate of the Security
Registrar thereof.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Trustee may require such additional proof of any
matter referred to in this Section as it shall deem necessary.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 8.03<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Who May be Deemed Owners.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Prior to the due presentment for registration of transfer
of any Security, the Company, the Trustee, any paying agent and any Security Registrar may deem and treat the Person in whose name such
Security shall be registered upon the books of the Company as the absolute owner of such Security (whether or not such Security shall
be overdue and notwithstanding any notice of ownership or writing thereon made by anyone other than the Security Registrar) for the purpose
of receiving payment of or on account of the principal of, premium, if any, and (subject to Section 2.03) interest on such Security and
for all other purposes; and neither the Company nor the Trustee nor any paying agent nor any Security Registrar shall be affected by any
notice to the contrary.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 8.04<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Certain Securities Owned by Company Disregarded.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">In determining whether the holders of the requisite
aggregate principal amount of Securities of a particular series have concurred in any direction, consent or waiver under this Indenture,
the Securities of that series that are owned by the Company or any other obligor on the Securities of that series or by any Person directly
or indirectly controlling or controlled by or under common control with the Company or any other obligor on the Securities of that series
shall be disregarded and deemed not to be Outstanding for the purpose of any such determination, except that for the purpose of determining
whether the Trustee shall be protected in relying on any such direction, consent or waiver, only Securities of such series that the Trustee
actually knows are so owned shall be so disregarded. The Securities so owned that have been pledged in good faith may be regarded as Outstanding
for the purposes of this Section, if the pledgee shall establish to the satisfaction of the Trustee the pledgee<font style="color: black">&rsquo;</font>s
right so to act with respect to such Securities and that the pledgee is not a Person directly or indirectly controlling or controlled
by or under direct or indirect common control with the Company or any such other obligor. In case of a dispute as to such right, any decision
by the Trustee taken upon the advice of counsel shall be full protection to the Trustee.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"></p>

<!-- Field: Page; Sequence: 40; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in">Section 8.05<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><b><u>Actions Binding on </u></b><u>Future Securityholders.</u></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">At any time prior to (but not after) the evidencing
to the Trustee, as provided in Section 8.01, of the taking of any action by the holders of the majority or percentage in aggregate principal
amount of the Securities of a particular series specified in this Indenture in connection with such action, any holder of a Security of
that series that is shown by the evidence to be included in the Securities the holders of which have consented to such action may, by
filing written notice with the Trustee, and upon proof of holding as provided in Section 8.02, revoke such action so far as concerns such
Security. Except as aforesaid any such action taken by the holder of any Security shall be conclusive and binding upon such holder and
upon all future holders and owners of such Security, and of any Security issued in exchange therefor, on registration of transfer thereof
or in place thereof, irrespective of whether or not any notation in regard thereto is made upon such Security. Any action taken by the
holders of the majority or percentage in aggregate principal amount of the Securities of a particular series specified in this Indenture
in connection with such action shall be conclusively binding upon the Company, the Trustee and the holders of all the Securities of that
series.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">ARTICLE
9<br>
<br>
SUPPLEMENTAL INDENTURES</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 9.01<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Supplemental Indentures Without the Consent of Securityholders.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">In addition to any supplemental indenture otherwise
authorized by this Indenture, the Company and the Trustee may from time to time and at any time enter into an indenture or indentures
supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect), without the consent of the Securityholders,
for one or more of the following purposes:</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(a)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>to cure any ambiguity, defect, or inconsistency herein or in the Securities of any series;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(b)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>to comply with Article 10;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(c)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>to provide for uncertificated Securities in addition to or in place of certificated Securities;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(d)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font>&#8239;&#8239; </b>to add to the covenants, restrictions, conditions or provisions relating to the Company for the benefit of the
holders of all or any series of Securities (and if such covenants, restrictions, conditions or provisions are to be for the benefit of
less than all series of Securities, stating that such covenants, restrictions, conditions or provisions are expressly being included solely
for the benefit of such series), to make the occurrence, or the occurrence and the continuance, of a default in any such additional covenants,
restrictions, conditions or provisions an Event of Default, or to surrender any right or power herein conferred upon the Company;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(e)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font>&#8239; &#8239; </b>to add to, delete from, or revise the conditions, limitations, and restrictions on the authorized amount, terms,
or purposes of issue, authentication, and delivery of Securities, as herein set forth;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b></b></p>

<!-- Field: Page; Sequence: 41; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><b>(f)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font>&#8239; </b>to make any change that does not adversely affect the rights of any Securityholder in any material respect;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(g)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>to provide for the issuance of and establish the form and terms and conditions of the Securities of any series as provided
in Section 2.01, to establish the form of any certifications required to be furnished pursuant to the terms of this Indenture or any series
of Securities, or to add to the rights of the holders of any series of Securities;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(h)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>to evidence and provide for the acceptance of appointment hereunder by a successor trustee; or</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(i)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>to comply with any requirements of the Commission or any successor in connection with the qualification of this Indenture under
the Trust Indenture Act.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Trustee is hereby authorized to join with the Company
in the execution of any such supplemental indenture, and to make any further appropriate agreements and stipulations that may be therein
contained, but the Trustee shall not be obligated to enter into any such supplemental indenture that affects the Trustee<font style="color: black">&rsquo;</font>s
own rights, duties or immunities under this Indenture or otherwise.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Any supplemental indenture authorized by the provisions
of this Section may be executed by the Company and the Trustee without the consent of the holders of any of the Securities at the time
Outstanding, notwithstanding any of the provisions of Section 9.02.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 9.02<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Supplemental Indentures With Consent of Securityholders.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">With the consent (evidenced as provided in Section
8.01) of the holders of not less than a majority in aggregate principal amount of the Securities of each series affected by such supplemental
indenture or indentures at the time Outstanding, the Company, when authorized by a Board Resolution, and the Trustee may from time to
time and at any time enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture
Act as then in effect) 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 not covered by Section 9.01 the rights of the holders of the
Securities of such series under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the
holders of each Security then Outstanding and affected thereby, (a) extend the fixed maturity of any Securities of any series, or reduce
the principal amount thereof, or reduce the rate or extend the time of payment of interest thereon, or reduce any premium payable upon
the redemption thereof or (b) reduce the aforesaid percentage of Securities, the holders of which are required to consent to any such
supplemental indenture.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">It shall not be necessary for the consent of the Securityholders
of any series affected thereby under this Section to approve the particular form of any proposed supplemental indenture, but it shall
be sufficient if such consent shall approve the substance thereof.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 9.03<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Effect of Supplemental Indentures.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 42; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Upon the execution of any supplemental indenture pursuant
to the provisions of this Article or of Section 10.01, this Indenture shall, with respect to such series, be and be deemed to be modified
and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture
of the Trustee, the Company and the holders of Securities of the series affected thereby shall thereafter be determined, exercised and
enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions of any such supplemental
indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 9.04<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Securities Affected by Supplemental Indentures.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Securities of any series affected by a supplemental
indenture, authenticated and delivered after the execution of such supplemental indenture pursuant to the provisions of this Article or
of Section 10.01, may bear a notation in form approved by the Company, provided such form meets the requirements of any securities exchange
upon which such series may be listed, as to any matter provided for in such supplemental indenture. If the Company shall so determine,
new Securities of that series so modified as to conform, in the opinion of the Board of Directors, to any modification of this Indenture
contained in any such supplemental indenture may be prepared by the Company, authenticated by the Trustee and delivered in exchange for
the Securities of that series then Outstanding.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 9.05<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u>Execution of Supplemental Indentures.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Upon the request of the Company, accompanied by its
Board Resolutions authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of the
consent of Securityholders required to consent thereto as aforesaid, the Trustee shall join with the Company in the execution of such
supplemental indenture unless such supplemental indenture affects the Trustee<font style="color: black">&rsquo;</font>s own rights, duties
or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion but shall not be obligated to enter into
such supplemental indenture. The Trustee, subject to the provisions of Section 7.01, shall receive an Officer<font style="color: black">&rsquo;</font>s
Certificate or an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant to this Article is authorized
or permitted by the terms of this Article and that all conditions precedent to the execution of the supplemental indenture have been complied
with; provided, however, that such Officer<font style="color: black">&rsquo;</font>s Certificate or Opinion of Counsel need not be provided
in connection with the execution of a supplemental indenture that establishes the terms of a series of Securities pursuant to Section
2.01 hereof.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Promptly after the execution by the Company and the
Trustee of any supplemental indenture pursuant to the provisions of this Section, the Company shall (or shall direct the Trustee to) transmit
by mail, first class postage prepaid, a notice, setting forth in general terms the substance of such supplemental indenture, to the Securityholders
of all series affected thereby, as their names and addresses appear upon the Security Register. Any failure of the Company to mail, or
cause the mailing of, such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental
indenture.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 43; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
10<br>
<br>
SUCCESSOR ENTITY</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 10.01<font style="font-size: 10pt">&nbsp;&nbsp;
</font><b><u>Company May Consolidate, Etc.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Nothing contained in this Indenture shall prevent any
consolidation or merger of the Company with or into any other Person (whether or not affiliated with the Company) or successive consolidations
or mergers in which the Company or its successor or successors shall be a party or parties, or shall prevent any sale, conveyance, transfer
or other disposition of the property of the Company or its successor or successors as an entirety, or substantially as an entirety, to
any other corporation (whether or not affiliated with the Company or its successor or successors) authorized to acquire and operate the
same; provided, however, (a) the Company hereby covenants and agrees that, upon any such consolidation or merger (in each case, if the
Company is not the survivor of such transaction), sale, conveyance, transfer or other disposition, the due and punctual payment of the
principal of (premium, if any) and interest on all of the Securities of all series in accordance with the terms of each series, according
to their tenor, and the due and punctual performance and observance of all the covenants and conditions of this Indenture with respect
to each series or established with respect to such series pursuant to Section 2.01 to be kept or performed by the Company shall be expressly
assumed, by supplemental indenture (which shall conform to the provisions of the Trust Indenture Act, as then in effect) reasonably satisfactory
in form to the Trustee executed and delivered to the Trustee by the entity formed by such consolidation, or into which the Company shall
have been merged, or by the entity which shall have acquired such property and (b) in the event that the Securities of any series then
Outstanding are convertible into or exchangeable for shares of common stock or other securities of the Company, such entity shall, by
such supplemental indenture, make provision so that the Securityholders of Securities of that series shall thereafter be entitled to receive
upon conversion or exchange of such Securities the number of securities or property to which a holder of the number of shares of common
stock or other securities of the Company deliverable upon conversion or exchange of those Securities would have been entitled had such
conversion or exchange occurred immediately prior to such consolidation, merger, sale, conveyance, transfer or other disposition.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 10.02<font style="font-size: 10pt">&nbsp;&nbsp;
</font><b><u>Successor Entity Substituted.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(a)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>In case of any such consolidation, merger, sale, conveyance, transfer or other disposition and upon the assumption by the successor
entity by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the obligations set
forth under Section 10.01 on all of the Securities of all series Outstanding, such successor entity shall succeed to and be substituted
for the Company with the same effect as if it had been named as the Company herein, and thereupon the predecessor corporation shall be
relieved of all obligations and covenants under this Indenture and the Securities.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(b)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>In case of any such consolidation, merger, sale, conveyance, transfer or other disposition, such changes in phraseology and
form (but not in substance) may be made in the Securities thereafter to be issued as may be appropriate.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b></b></p>

<!-- Field: Page; Sequence: 44; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><b>(c)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>Nothing contained in this Article shall require any action by the Company in the case of a consolidation or merger of any Person
into the Company where the Company is the survivor of such transaction, or the acquisition by the Company, by purchase or otherwise, of
all or any part of the property of any other Person (whether or not affiliated with the Company).</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">ARTICLE
11<br>
<br>
SATISFACTION AND DISCHARGE</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 11.01<font style="font-size: 10pt">&nbsp;&nbsp;
</font><u>Satisfaction and Discharge of Indenture.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">If at any time: (a) the Company shall have delivered
to the Trustee for cancellation all Securities of a series theretofore authenticated and not delivered to the Trustee for cancellation
(other than any Securities that shall have been destroyed, lost or stolen and that shall have been replaced or paid as provided in Section
2.07 and Securities for whose payment money or Governmental Obligations have theretofore been deposited in trust or segregated and held
in trust by the Company and thereupon repaid to the Company or discharged from such trust, as provided in Section 11.05); or (b) all such
Securities of a particular series not theretofore delivered to the Trustee for cancellation shall have become due and payable, or are
by their terms to become due and payable within one year or are to be called for redemption within one year under arrangements satisfactory
to the Trustee for the giving of notice of redemption, and the Company shall deposit or cause to be deposited with the Trustee as trust
funds the entire amount in moneys or Governmental Obligations or a combination thereof, sufficient in the opinion of a nationally recognized
firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay at maturity or upon
redemption all Securities of that series not theretofore delivered to the Trustee for cancellation, including principal (and premium,
if any) and interest due or to become due to such date of maturity or date fixed for redemption, as the case may be, and if the Company
shall also pay or cause to be paid all other sums payable hereunder with respect to such series by the Company then this Indenture shall
thereupon cease to be of further effect with respect to such series except for the provisions of Sections 2.03, 2.05, 2.07, 4.01, 4.02,
4.03 and 7.10, that shall survive until the date of maturity or redemption date, as the case may be, and Sections 7.06 and 11.05, that
shall survive to such date and thereafter, and the Trustee, on demand of the Company and at the cost and expense of the Company shall
execute proper instruments acknowledging satisfaction of and discharging this Indenture with respect to such series.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 11.02<font style="font-size: 10pt">&nbsp;&nbsp;
</font><u>Discharge of Obligations.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">If at any time all such Securities of a particular
series not heretofore delivered to the Trustee for cancellation or that have not become due and payable as described in Section 11.01
shall have been paid by the Company by depositing irrevocably with the Trustee as trust funds moneys or an amount of Governmental Obligations
sufficient to pay at maturity or upon redemption all such Securities of that series not theretofore delivered to the Trustee for cancellation,
including principal (and premium, if any) and interest due or to become due to such date of maturity or date fixed for redemption, as
the case may be, and if the Company shall also pay or cause to be paid all other sums payable hereunder by the Company with respect to
such series, then after the date such moneys or Governmental Obligations, as the case may be, are deposited with the Trustee the obligations
of the Company under this Indenture with respect to such series shall cease to be of further effect except for the provisions of Sections
2.03, 2.05, 2.07, 4,01, 4.02, 4,03, 7.06, 7.10 and 11.05 hereof that shall survive until such Securities shall mature and be paid.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 45; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Thereafter, Sections 7.06 and 11.05 shall survive.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 11.03<font style="font-size: 10pt">&nbsp;&nbsp;
</font><b><u>Deposited Moneys to be Held in Trust.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">All moneys or Governmental Obligations deposited with
the Trustee pursuant to Sections 11.01 or 11.02 shall be held in trust and shall be available for payment as due, either directly or through
any paying agent (including the Company acting as its own paying agent), to the holders of the particular series of Securities for the
payment or redemption of which such moneys or Governmental Obligations have been deposited with the Trustee.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 11.04<font style="font-size: 10pt">&nbsp;&nbsp;
</font><u>Payment of Moneys Held by Paying Agents.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">In connection with the satisfaction and discharge of
this Indenture all moneys or Governmental Obligations then held by any paying agent under the provisions of this Indenture shall, upon
demand of the Company, be paid to the Trustee and thereupon such paying agent shall be released from all further liability with respect
to such moneys or Governmental Obligations.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 11.05<font style="font-size: 10pt">&nbsp;&nbsp;
</font><b><u>Repayment to Company.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Any moneys or Governmental Obligations deposited with
any paying agent or the Trustee, or then held by the Company, in trust for payment of principal of or premium, if any, or interest on
the Securities of a particular series that are not applied but remain unclaimed by the holders of such Securities for at least two years
after the date upon which the principal of (and premium, if any) or interest on such Securities shall have respectively become due and
payable, or such other shorter period set forth in applicable escheat or abandoned or unclaimed property law, shall be repaid to the Company
on May 31 of each year or upon the Company<font style="color: black">&rsquo;</font>s request or (if then held by the Company) shall be
discharged from such trust; and thereupon the paying agent and the Trustee shall be released from all further liability with respect to
such moneys or Governmental Obligations, and the holder of any of the Securities entitled to receive such payment shall thereafter, as
a general creditor, look only to the Company for the payment thereof.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">ARTICLE
12<br>
<br>
IMMUNITY OF INCORPORATORS, STOCKHOLDERS,<br>
OFFICERS AND DIRECTORS</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 12.01<font style="font-size: 10pt">&nbsp;&nbsp;
</font><b><u>No Recourse.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">No recourse under or upon any obligation, covenant
or agreement of this Indenture, or of any Security, or for any claim based thereon or otherwise in respect thereof, shall be had against
any incorporator, stockholder, officer or director, past, present or future as such, of the Company or of any predecessor or successor
corporation, either directly or through the Company or any such predecessor or successor corporation, whether by virtue of any constitution,
statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that this Indenture
and the obligations issued hereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or
is or shall be incurred by, the incorporators, stockholders, officers or directors as such, of the Company or of any predecessor or successor
corporation, or any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations,
covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom; and that any and all such personal
liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and
claims against, every such incorporator, stockholder, officer or director as such, because of the creation of the indebtedness hereby
authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities
or implied therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture
and the issuance of such Securities.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 46; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
13<br>
<br>
MISCELLANEOUS PROVISIONS</p>

<p style="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 13.01<font style="font-size: 10pt">&nbsp;&nbsp;
</font><u>Effect on Successors and Assigns.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">All the covenants, stipulations, promises and agreements
in this Indenture made by or on behalf of the Company shall bind its successors and assigns, whether so expressed or not.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 13.02<font style="font-size: 10pt">&nbsp;&nbsp;
</font><b><u>Actions by Successor.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Any act or proceeding by any provision of this Indenture
authorized or required to be done or performed by any board, committee or officer of the Company shall and may be done and performed with
like force and effect by the corresponding board, committee or officer of any corporation that shall at the time be the lawful successor
of the Company.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 13.03<font style="font-size: 10pt">&nbsp;&nbsp;
</font><u>Surrender of Company Powers.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Company by instrument in writing executed by authority
of its Board of Directors and delivered to the Trustee may surrender any of the powers reserved to the Company, and thereupon such power
so surrendered shall terminate both as to the Company and as to any successor corporation.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 13.04<font style="font-size: 10pt">&nbsp;&nbsp;
</font><b><u>Notices.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Except as otherwise expressly provided herein, any
notice, request or demand that by any provision of this Indenture is required or permitted to be given, made or served by the Trustee
or by the holders of Securities or by any other Person pursuant to this Indenture to or on the Company may be given or served by being
deposited in first class mail, postage prepaid, addressed (until another address is filed in writing by the Company with the Trustee),
as follows: FreightCar America, Inc., 125 South Wacker Drive, Suite 1500, Chicago, IL 60606: Chief Financial Officer. Any notice, election,
request or demand by the Company or any Securityholder or by any other Person pursuant to this Indenture to or upon the Trustee shall
be deemed to have been sufficiently given or made, for all purposes, if given or made in writing at the Corporate Trust Office of the
Trustee.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"></p>

<!-- Field: Page; Sequence: 47; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->43<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in">Section 13.05<font style="font-size: 10pt">&nbsp;&nbsp;
</font><b><u>Governing Law.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">This Indenture and each Security shall be deemed to
be a contract made under the internal laws of the State of New York, and for all purposes shall be construed in accordance with the laws
of said State, except to the extent that the Trust Indenture Act is applicable.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 13.06<font style="font-size: 10pt">&nbsp;&nbsp;
</font><u>Section 13.06 Treatment of Securities as Debt.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">It is intended that the Securities will be treated
as indebtedness and not as equity for federal income tax purposes. The provisions of this Indenture shall be interpreted to further this
intention.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 13.07<font style="font-size: 10pt">&nbsp;&nbsp;
</font><u>Certificates and Opinions as to Conditions Precedent.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(a)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>Upon any application or demand by the Company to the Trustee to take any action under any of the provisions of this Indenture,
the Company shall furnish to the Trustee an Officer&rsquo;s Certificate stating that all conditions precedent provided for in this Indenture
(other than the certificate to be delivered pursuant to Section 13.12) relating to the proposed action have been complied with and, if
requested, an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent have been complied with, except
that in the case of any such application or demand as to which the furnishing of such documents is specifically required by any provision
of this Indenture relating to such particular application or demand, no additional certificate or opinion need be furnished.</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>(b)<font style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></b>Each certificate or opinion provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition
or covenant in this Indenture shall include: (i) a statement that the Person making such certificate or opinion has read such covenant
or condition; (ii) 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; (iii) a statement that, in the opinion of such Person, he has made such examination
or investigation as is reasonably necessary to enable him to express an informed opinion as to whether or not such covenant or condition
has been complied with; and (iv) 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-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 13.08<font style="font-size: 10pt">&nbsp;&nbsp;
</font><b><u>Payments on Business Days.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Except as provided pursuant to Section 2.01 pursuant
to a Board Resolution, and set forth in an Officer<font style="color: black">&rsquo;</font>s Certificate, or established in one or more
indentures supplemental to this Indenture, in any case where the date of maturity of interest or principal of any Security or the date
of redemption of any Security shall not be a Business Day, then payment of interest or principal (and premium, if any) may be made on
the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest
shall accrue for the period after such nominal date.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 13.09<font style="font-size: 10pt">&nbsp;&nbsp;
</font><u>Conflict with Trust Indenture Act.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">If and to the extent that any provision of this Indenture
limits, qualifies or conflicts with the duties imposed by Sections 310 to 317, inclusive, of the Trust Indenture Act, such imposed duties
shall control.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"></p>

<!-- Field: Page; Sequence: 48; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->44<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: 0in">Section 13.10<font style="font-size: 10pt">&nbsp;&nbsp;
</font><b><u>Counterparts.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">This Indenture may be executed in any number of counterparts,
each of which shall be an original, but such counterparts shall together constitute but one and the same instrument.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 13.11<font style="font-size: 10pt">&nbsp;&nbsp;
</font><b><u>Separability.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">In case any one or more of the provisions contained
in this Indenture or in the Securities of any series shall for any reason be held to be invalid, illegal or unenforceable in any respect,
such invalidity, illegality or unenforceability shall not affect any other provisions of this Indenture or of such Securities, but this
Indenture and such Securities shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein
or therein.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in"><b>Section 13.12<font style="font-size: 10pt">&nbsp;&nbsp;
</font><u>Compliance Certificates.</u></b></p>

<p style="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Company shall deliver to the Trustee, within 120
days after the end of each fiscal year during which any Securities of any series were outstanding, an officer<font style="color: black">&rsquo;</font>s
certificate stating whether or not the signers know of any Event of Default that occurred during such fiscal year. Such certificate shall
contain a certification from the principal executive officer, principal financial officer or principal accounting officer of the Company
that a review has been conducted of the activities of the Company and the Company<font style="color: black">&rsquo;</font>s performance
under this Indenture and that the Company has complied with all conditions and covenants under this Indenture. For purposes of this Section
13.12, such compliance shall be determined without regard to any period of grace or requirement of notice provided under this Indenture.
If the officer of the Company signing such certificate has knowledge of such an Event of Default, the certificate shall describe any such
Event of Default and its status.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></p>

<!-- Field: Page; Sequence: 49; Value: 2 -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&nbsp;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->45<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&nbsp;</td></tr></table></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><font style="color: black"><b>IN WITNESS WHEREOF</b></font>,
the parties hereto have caused this Indenture to be duly executed all as of the day and year first above written.</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="margin: 0pt 0 0pt 3in; font-size: 10pt; text-align: justify">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="font-size: 10pt; width: 100%">
  <tr style="vertical-align: top">
    <td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt"><b>FREIGHTCAR AMERICA, INC.</b></td>
    <td>&nbsp;</td></tr>
  <tr style="vertical-align: top">
    <td colspan="3">&nbsp;</td>
    <td>&nbsp;</td></tr>
  <tr style="vertical-align: top">
    <td style="width: 50%; font-size: 10pt">&nbsp;</td>
    <td style="width: 9%; font-size: 10pt">By:</td>
    <td style="border-bottom: black 1pt solid; width: 40%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td></tr>
  <tr style="vertical-align: top">
    <td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Name:</td>
    <td style="border-bottom: black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td></tr>
  <tr style="vertical-align: top">
    <td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Title:</td>
    <td style="border-bottom: black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td></tr>
  <tr style="vertical-align: top">
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
  <tr style="vertical-align: top">
    <td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt"><b>[TRUSTEE]</b>, as Trustee</td>
    <td>&nbsp;</td></tr>
  <tr style="vertical-align: top">
    <td colspan="3">&nbsp;</td>
    <td>&nbsp;</td></tr>
  <tr style="vertical-align: top">
    <td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">By:</td>
    <td style="border-bottom: black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td></tr>
  <tr style="vertical-align: top">
    <td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Name:</td>
    <td style="border-bottom: black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td></tr>
  <tr style="vertical-align: top">
    <td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt">Title:</td>
    <td style="border-bottom: black 1pt solid">&nbsp;</td>
    <td>&nbsp;</td></tr>
  </table>
<p style="margin: 0pt 0 0pt 3in; font-size: 10pt"><font style="font-size: 10pt">
</font></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center"><b></b></p>

<!-- Field: Page; Sequence: 50; Options: NewSection -->
    <div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><p style="margin: 0pt">&#160;</p></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="margin: 0pt 0; font-size: 10pt; text-align: center"><b>CROSS-REFERENCE TABLE (1)</b></p>

<p style="margin: 0pt 0; font-size: 10pt; text-align: center"><b>&nbsp;</b></p>

<table cellspacing="0" cellpadding="0" style="font-size: 10pt; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: bottom">
    <td style="width: 85%; font-size: 10pt"><b>Section of Trust Indenture Act of 1939, as Amended</b></td>
    <td style="width: 15%; font-size: 10pt; text-align: center"><b>Section of <br>
Indenture</b></td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">310(a)</td>
    <td style="vertical-align: bottom; font-size: 10pt; text-align: center">7.09</td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">310(b)</td>
    <td style="vertical-align: bottom">
    <p style="margin: 0pt 0; font-size: 10pt; text-align: center">7.08</p>
    <p style="margin: 0pt 0; font-size: 10pt; text-align: center">7.10</p></td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">310(c)</td>
    <td style="vertical-align: bottom; font-size: 10pt; text-align: center">Inapplicable</td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">311(a)</td>
    <td style="vertical-align: bottom; font-size: 10pt; text-align: center">7.13</td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">311(b)</td>
    <td style="vertical-align: bottom; font-size: 10pt; text-align: center">7.13</td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">311(c)</td>
    <td style="vertical-align: bottom; font-size: 10pt; text-align: center">Inapplicable</td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">312(a)</td>
    <td style="vertical-align: bottom">
    <p style="margin: 0pt 0; font-size: 10pt; text-align: center">5.01</p>
    <p style="margin: 0pt 0; font-size: 10pt; text-align: center">5.02(a)</p></td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">312(b)</td>
    <td style="vertical-align: bottom; font-size: 10pt; text-align: center">5.02(c)</td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">312(c)</td>
    <td style="vertical-align: bottom; font-size: 10pt; text-align: center">5.02(c)</td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">313(a)</td>
    <td style="vertical-align: bottom; font-size: 10pt; text-align: center">5.04(a)</td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">313(b)</td>
    <td style="vertical-align: bottom; font-size: 10pt; text-align: center">5.04(b)</td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">313(c)</td>
    <td style="vertical-align: bottom">
    <p style="margin: 0pt 0; font-size: 10pt; text-align: center">5.04(a)</p>
    <p style="margin: 0pt 0; font-size: 10pt; text-align: center">5.04(b)</p></td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">313(d)</td>
    <td style="vertical-align: bottom; font-size: 10pt; text-align: center">5.04(c)</td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">314(a)</td>
    <td style="vertical-align: bottom">
    <p style="margin: 0pt 0; font-size: 10pt; text-align: center">5.03</p>
    <p style="margin: 0pt 0; font-size: 10pt; text-align: center">13.12</p></td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">314(b)</td>
    <td style="vertical-align: bottom; font-size: 10pt; text-align: center">Inapplicable</td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">314(c)</td>
    <td style="vertical-align: bottom; font-size: 10pt; text-align: center">13.07(a)</td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">314(d)</td>
    <td style="vertical-align: bottom; font-size: 10pt; text-align: center">Inapplicable</td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">314(e)</td>
    <td style="vertical-align: bottom; font-size: 10pt; text-align: center">13.07(b)</td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">314(f)</td>
    <td style="vertical-align: bottom; font-size: 10pt; text-align: center">Inapplicable</td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">315(a)</td>
    <td style="vertical-align: bottom">
    <p style="margin: 0pt 0; font-size: 10pt; text-align: center">7.01(a)</p>
    <p style="margin: 0pt 0; font-size: 10pt; text-align: center">7.01(b)</p></td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">315(b)</td>
    <td style="vertical-align: bottom; font-size: 10pt; text-align: center">7.14</td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">315(c)</td>
    <td style="vertical-align: bottom; font-size: 10pt; text-align: center">7.01</td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">315(d)</td>
    <td style="vertical-align: bottom; font-size: 10pt; text-align: center">7.01(b)</td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">315(e)</td>
    <td style="vertical-align: bottom; font-size: 10pt; text-align: center">6.07</td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">316(a)</td>
    <td style="vertical-align: bottom">
    <p style="margin: 0pt 0; font-size: 10pt; text-align: center">6.06</p>
    <p style="margin: 0pt 0; font-size: 10pt; text-align: center">8.04</p></td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">316(b)</td>
    <td style="vertical-align: bottom; font-size: 10pt; text-align: center">6.04</td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">316(c)</td>
    <td style="vertical-align: bottom; font-size: 10pt; text-align: center">8.01</td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">317(a)</td>
    <td style="vertical-align: bottom; font-size: 10pt; text-align: center">6.02</td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">317(b)</td>
    <td style="vertical-align: bottom; font-size: 10pt; text-align: center">4.03</td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt">318(a)</td>
    <td style="vertical-align: bottom; font-size: 10pt; text-align: center">13.09</td></tr>
  </table>
<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="font-size: 10pt; width: 100%; border-collapse: collapse">
  <tr>
    <td style="vertical-align: top; width: 85%">&nbsp;</td>
    <td style="vertical-align: bottom; width: 15%">&nbsp;</td></tr>
  </table>
<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="font-size: 10pt; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 2%; font-size: 10pt">(1)</td>
    <td style="width: 98%; border-top: black 1pt solid; font-size: 10pt">This Cross-Reference Table does not constitute part of this Indenture and shall not have any bearing on the interpretation of any of its terms or provisions.</td></tr>
  </table>
<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

<p style="margin: 0pt 0; font-size: 10pt">&nbsp;</p>

</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.5
<SEQUENCE>3
<FILENAME>exh_45.htm
<DESCRIPTION>EXHIBIT 4.5
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right"><B>Exhibit 4.5</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>FreightCar America, Inc.</B></FONT></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>Issuer</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>AND</B></FONT></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>[TRUSTEE],</B></FONT></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>Trustee</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>INDENTURE</B></FONT></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>Dated as of [&middot;], 20[&middot;]</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>Subordinated Debt Securities</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>Table of Contents</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right"><U>Page</U></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: left">ARTICLE 1 DEFINITIONS </TD>
    <TD STYLE="font-size: 10pt; text-align: right">1</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 18%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 73%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 8%">&nbsp;</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 1.01</TD>
    <TD STYLE="font-size: 10pt; color: windowtext">Definitions of Terms.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">1</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">ARTICLE 2 ISSUE, DESCRIPTION, TERMS, EXECUTION,
    REGISTRATION AND EXCHANGE OF SECURITIES</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">5</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 2.01</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Designation and Terms of Securities.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">5</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 2.02</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Form of Securities and Trustee&rsquo;s Certificate.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">8</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 2.03</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Denominations: Provisions for Payment.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">8</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 2.04</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Execution and Authentications.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">10</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 2.05</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Registration of Transfer and Exchange.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">10</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 2.06</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Temporary Securities.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">12</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 2.07</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Mutilated, Destroyed, Lost or Stolen Securities.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">12</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 2.08</TD>
    <TD STYLE="font-size: 10pt; color: windowtext">Cancellation.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">13</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 2.09</TD>
    <TD STYLE="font-size: 10pt; color: windowtext">Benefits of Indenture.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">13</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 2.10</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Authenticating Agent.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">13</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 2.11</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Global Securities.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">14</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">ARTICLE 3 REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS</FONT> <FONT STYLE="font-size: 10pt"></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">15</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 3.01</TD>
    <TD STYLE="font-size: 10pt; color: windowtext">Redemption.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">15</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 3.02</TD>
    <TD STYLE="font-size: 10pt; color: black">Notice of Redemption.</TD>
    <TD STYLE="font-size: 10pt; color: black; text-align: right">15</TD><TD STYLE="font-size: 10pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 3.03</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Payment Upon Redemption.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">16</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 3.04</TD>
    <TD STYLE="font-size: 10pt; color: windowtext">Sinking Fund.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">17</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 3.05</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Satisfaction of Sinking Fund Payments with Securities.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">17</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 3.06</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Redemption of Securities for Sinking Fund.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">17</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">ARTICLE 4 COVENANTS</FONT> </TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">18</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 4.01</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Payment of Principal, Premium and Interest.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">18</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 4.02</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Maintenance of Office or Agency.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">18</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 4.03</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Paying Agents.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">18</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 4.04</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Appointment to Fill Vacancy in Office of Trustee.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">19</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 4.05</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Compliance with Consolidation Provisions.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">19</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">ARTICLE 5 SECURITYHOLDERS&rsquo; LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE</FONT> <FONT STYLE="font-size: 10pt"></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">20</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 5.01</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Company to Furnish Trustee Names and Addresses of Securityholders.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">20</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 5.02</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Preservation Of Information; Communications With Securityholders.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">20</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 5.03</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Reports by the Company.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">20</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 5.04</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Reports by the Trustee.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">21</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

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

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->i<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">ARTICLE 6 REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT</FONT> </TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">21</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 18%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 73%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 8%">&nbsp;</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 6.01</TD>
    <TD STYLE="font-size: 10pt; color: windowtext">Events of Default.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">21</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 6.02</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Collection of Indebtedness and Suits for Enforcement by Trustee.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">23</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 6.03</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Application of Moneys Collected.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">24</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 6.04</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Limitation on Suits.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">25</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 6.05</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Rights and Remedies Cumulative; Delay or Omission Not Waiver.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">26</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 6.06</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Control by Securityholders.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">26</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 6.07</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Undertaking to Pay Costs.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">27</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">ARTICLE 7 CONCERNING THE TRUSTEE</FONT> <FONT STYLE="font-size: 10pt"></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">27</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 7.01</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Certain Duties and Responsibilities of Trustee.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">27</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 7.02</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Certain Rights of Trustee.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">28</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 7.03</TD>
    <TD STYLE="font-size: 10pt; color: black; text-align: left">Trustee Not Responsible for Recitals or Issuance or Securities.</TD>
    <TD STYLE="font-size: 10pt; color: black; text-align: right">30</TD><TD STYLE="font-size: 10pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 7.04</TD>
    <TD STYLE="font-size: 10pt; color: windowtext">May Hold Securities.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">30</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 7.05</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Moneys Held in Trust.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">30</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 7.06</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Compensation and Reimbursement.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">30</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 7.07</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Reliance on Officer&rsquo;s Certificate.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">31</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 7.08</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Disqualification; Conflicting Interests.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">31</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 7.09</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Corporate Trustee Required; Eligibility.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">31</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 7.10</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Resignation and Removal; Appointment of Successor.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">32</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 7.11</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Acceptance of Appointment By Successor.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">33</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 7.12</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Merger, Conversion, Consolidation or Succession to Business.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">34</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 7.13</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Preferential Collection of Claims Against the Company.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">35</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 7.14</TD>
    <TD STYLE="font-size: 10pt; color: windowtext">Notice of Default.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">35</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">ARTICLE 8 CONCERNING THE SECURITYHOLDERS</FONT> </TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">35</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 8.01</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; font-style: italic; text-align: left">Evidence of Action by Securityholders.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">35</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 8.02</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Proof of Execution by Securityholders.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">36</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 8.03</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Who May be Deemed Owners.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">36</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 8.04</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Certain Securities Owned by Company Disregarded.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">36</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 8.05</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Actions Binding on Future Securityholders.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">37</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">ARTICLE 9 SUPPLEMENTAL INDENTURES</FONT> </TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">37</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 9.01</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Supplemental Indentures Without the Consent of Securityholders.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">37</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 9.02</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Supplemental Indentures With Consent of Securityholders.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">38</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 9.03</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Effect of Supplemental Indentures.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">39</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 9.04</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Securities Affected by Supplemental Indentures.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">39</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 9.05</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Execution of Supplemental Indentures.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">39</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

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

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->ii<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">ARTICLE 10 SUCCESSOR ENTITY</FONT> </TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">40</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 18%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 73%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 8%">&nbsp;</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 10.01</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Company May Consolidate, Etc.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">40</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 10.02</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Successor Entity Substituted.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">40</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">ARTICLE 11 SATISFACTION AND DISCHARGE</FONT> </TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">41</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 11.01</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Satisfaction and Discharge of Indenture.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">41</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 11.02</TD>
    <TD STYLE="font-size: 10pt; color: windowtext">Discharge of Obligations.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">41</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 11.03</TD>
    <TD STYLE="font-size: 10pt; color: black; text-align: left">Deposited Moneys to be Held in Trust.</TD>
    <TD STYLE="font-size: 10pt; color: black; text-align: right">42</TD><TD STYLE="font-size: 10pt; color: black; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 11.04</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Payment of Moneys Held by Paying Agents.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">42</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 11.05</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Repayment to Company.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">42</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">ARTICLE 12 IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS</FONT> </TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">42</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 12.01</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">No Recourse.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">42</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">ARTICLE 13 MISCELLANEOUS PROVISIONS</FONT> </TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">43</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 13.01</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Effect on Successors and Assigns.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">43</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 13.02</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Actions by Successor.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">43</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 13.03</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Surrender of Company Powers.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">43</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 13.04</TD>
    <TD STYLE="font-size: 10pt; color: windowtext">Notices.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">43</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 13.05</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Governing Law.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">44</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 13.06</TD>
    <TD STYLE="font-size: 10pt; color: windowtext">Treatment of Securities as Debt.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">44</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 13.07</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Certificates and Opinions as to Conditions Precedent.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">44</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 13.08</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Payments on Business Days.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">44</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 13.09</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Conflict with Trust Indenture Act.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">44</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 13.10</TD>
    <TD STYLE="font-size: 10pt; color: windowtext">Counterparts.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">45</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 13.11</TD>
    <TD STYLE="font-size: 10pt; color: windowtext">Separability.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">45</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 13.12</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Compliance Certificates.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">45</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">ARTICLE 14 SUBORDINATION OF SECURITIES</FONT> </TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">45</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: windowtext; padding-left: 0.5in">Section 14.01</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: left">Subordination Terms.</TD>
    <TD STYLE="font-size: 10pt; color: windowtext; text-align: right">45</TD><TD STYLE="font-size: 10pt; color: windowtext; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt"></p>

<table cellspacing="0" cellpadding="0" style="font-size: 10pt; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 0px">&nbsp;</td>
    <td style="width: 29px; font-size: 10pt">(1)</td>
    <td style="font-size: 10pt; text-align: justify">This Table of Contents does not constitute part of this Indenture and shall not have any bearing on the interpretation of any of its terms or provisions.</td></tr>
  </table>


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

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->iii<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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

<p style="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in">INDENTURE</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black"><B>INDENTURE</B></FONT>,
dated as of [<FONT STYLE="color: black">&middot;</FONT>], 20<FONT STYLE="color: black">[&middot;] (this &ldquo;Indenture&rdquo;)</FONT>,
by and between <FONT STYLE="text-transform: uppercase"><B>FREIGHTCAR AMERICA, INC., </B></FONT>a Delaware corporation (the <FONT STYLE="color: black">&ldquo;</FONT>Company<FONT STYLE="color: black">&rdquo;</FONT>),
and [TRUSTEE], as trustee (the <FONT STYLE="color: black">&ldquo;</FONT>Trustee<FONT STYLE="color: black">&rdquo;</FONT>):</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black"><B>WHEREAS</B></FONT>, for
its lawful corporate purposes, the Company has duly authorized the execution and delivery of this Indenture to provide for the issuance
of subordinated debt securities (hereinafter referred to as the <FONT STYLE="color: black">&ldquo;</FONT>Securities<FONT STYLE="color: black">&rdquo;</FONT>),
in an unlimited aggregate principal amount to be issued from time to time in one or more series as in this Indenture provided, as registered
Securities without coupons, to be authenticated by the certificate of the Trustee;</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black"><B>WHEREAS</B></FONT>, to
provide the terms and conditions upon which the Securities are to be authenticated, issued and delivered, the Company has duly authorized
the execution of this Indenture; and</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black"><B>WHEREAS</B></FONT>, all
things necessary to make this Indenture a valid agreement of the Company, in accordance with its terms, have been done.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black"><B>NOW, THEREFORE</B></FONT>,
in consideration of the premises and the purchase of the Securities by the holders thereof, it is mutually covenanted and agreed as follows
for the equal and ratable benefit of the holders of the Securities:</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">ARTICLE
1<BR>
<BR>
DEFINITIONS</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 1.01<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Definitions of Terms</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The terms defined in this Section (except as in this
Indenture or any indenture supplemental hereto otherwise expressly provided or unless the context otherwise requires) for all purposes
of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section and shall include
the plural as well as the singular. All other terms used in this Indenture that are defined in the Trust Indenture Act of 1939, as amended,
or that are by reference in such Act defined in the Securities Act of 1933, as amended (except as herein or any indenture supplemental
hereto otherwise expressly provided or unless the context otherwise requires), shall have the meanings assigned to such terms in said
Trust Indenture Act and in said Securities Act as in force at the date of the execution of this instrument.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Authenticating
Agent</I></B>&rdquo;</FONT> means an authenticating agent with respect to all or any of the series of Securities appointed by the Trustee
pursuant to Section 2.10.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Bankruptcy
Law</I></B>&rdquo;</FONT> means Title 11, U.S. Code, or any similar federal or state law for the relief of debtors.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Board of Directors</I></B>&rdquo;</FONT>
means the Board of Directors (or the functional equivalent thereof) of the Company or any duly authorized committee of such Board.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 5; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Board Resolution</I></B>&rdquo;</FONT>
means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board
of Directors and to be in full force and effect on the date of such certification.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Business Day</I></B>&rdquo;</FONT>
means, with respect to any series of Securities, any day other than a day on which federal or state banking institutions in the Borough
of Manhattan, the City of New York, or in the city of the Corporate Trust Office of the Trustee, are authorized or obligated by law, executive
order or regulation to close.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Certificate</I></B>&rdquo;</FONT>
means a certificate signed by any Officer. The Certificate need not comply with the provisions of Section 13.07.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Commission</I></B>&rdquo;</FONT>
means the Securities and Exchange Commission, as from time to time constituted, created under the Exchange Act, or, if at any time after
the execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture
Act, then the body performing such duties at such time.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Company</I></B>&rdquo;</FONT>
means FreightCar America, Inc., a corporation duly organized and existing under the laws of the State of Delaware, and, subject to the
provisions of Article 10, shall also include its successors and assigns.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Corporate Trust
Office</I></B>&rdquo;</FONT> means the office of the Trustee at which, at any particular time, its corporate trust business shall be principally
administered, which office at the date hereof is located at.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Custodian</I></B>&rdquo;</FONT>
means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Defaulted Interest</I></B>&rdquo;</FONT>
has the meaning set forth in Section 2.03.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Depositary</I></B>&rdquo;</FONT>
means, with respect to Securities of any series for which the Company shall determine that such Securities will be issued as a Global
Security, The Depository Trust Company, another clearing agency, or any successor registered as a clearing agency under the Exchange Act,
or other applicable statute or regulation, which, in each case, shall be designated by the Company pursuant to either Section 2.01 or
2.11.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Event of Default</I></B>&rdquo;</FONT>
means, with respect to Securities of a particular series, any event specified in Section 6.01, continued for the period of time, if any,
therein designated.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Exchange Act</I></B>&rdquo;</FONT>
means the United States Securities and Exchange Act of 1934, as amended, and the rules and regulations promulgated by the Commission thereunder.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Global Security</I></B>&rdquo;</FONT>
means a Security issued to evidence all or a part of any series of Securities which is executed by the Company and authenticated and delivered
by the Trustee to the Depositary or pursuant to the Depositary<FONT STYLE="color: black">&rsquo;</FONT>s instruction, all in accordance
with this Indenture, which shall be registered in the name of the Depositary or its nominee.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 6; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Governmental
Obligations</I></B>&rdquo;</FONT> means securities that are (a) direct obligations of the United States of America for the payment of
which its full faith and credit is pledged or (b) obligations of a Person controlled or supervised by and acting as an agency or instrumentality
of the United States of America, the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United
States of America that, in either case, are not callable or redeemable at the option of the issuer thereof at any time prior to the stated
maturity of the Securities, and shall also include a depositary receipt issued by a bank or trust company as custodian with respect to
any such Governmental Obligation or a specific payment of principal of or interest on any such Governmental Obligation held by such custodian
for the account of the holder of such depositary receipt; provided, however, 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 Governmental Obligation or the specific payment of principal of or interest on the Governmental Obligation evidenced by such depositary
receipt.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Herein</I></B>&rdquo;</FONT>,
<FONT STYLE="color: black">&ldquo;<B><I>hereof</I></B>&rdquo;</FONT> and <FONT STYLE="color: black">&ldquo;<B><I>hereunder</I></B>&rdquo;</FONT>,
and other words of similar import, refer to this Indenture as a whole and not to any particular Article, Section or other subdivision.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Indenture</I></B>&rdquo;</FONT>
means this instrument as originally executed or as it may from time to time be supplemented or amended by one or more indentures supplemental
hereto entered into in accordance with the terms hereof and shall include the terms of particular series of Securities established as
contemplated by Section 2.01.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Interest Payment
Date</I></B>&rdquo;</FONT>, when used with respect to any installment of interest on a Security of a particular series, means the date
specified in such Security or in a Board Resolution or in an indenture supplemental hereto with respect to such series as the fixed date
on which an installment of interest with respect to Securities of that series is due and payable.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Officer</I></B>&rdquo;</FONT>
means, with respect to the Company, the chairman of the Board of Directors, a chief executive officer, a president, a chief financial
officer, a chief operating officer, any executive vice president, any senior vice president, any vice president, the treasurer or any
assistant treasurer, the controller or any assistant controller or the secretary or any assistant secretary.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Officer&rsquo;s
Certificate</I></B>&rdquo;</FONT> means a certificate signed by any Officer. Each such certificate shall include the statements provided
for in Section 13.07, if and to the extent required by the provisions thereof.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Opinion of
Counsel</I></B>&rdquo;</FONT> means an opinion in writing subject to customary exceptions of legal counsel, who may be an employee of
or counsel for the Company, that is delivered to the Trustee in accordance with the terms hereof. Each such opinion shall include the
statements provided for in Section 13.07, if and to the extent required by the provisions thereof.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Outstanding</I></B>&rdquo;</FONT>,
when used with reference to Securities of any series, means, subject to the provisions of Section 8.04, as of any particular time, all
Securities of that series theretofore authenticated and delivered by the Trustee under this Indenture, except (a) Securities theretofore
canceled by the Trustee or any paying agent, or delivered to the Trustee or any paying agent for cancellation or that have previously
been canceled; (b) Securities or portions thereof for the payment or redemption of which moneys or Governmental Obligations in the necessary
amount shall have been deposited in trust with the Trustee or with any paying agent (other than the Company) or shall have been set aside
and segregated in trust by the Company (if the Company shall act as its own paying agent); provided, however, that if such Securities
or portions of such Securities are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided
in Article 3, or provision satisfactory to the Trustee shall have been made for giving such notice; and (c) Securities in lieu of or in
substitution for which other Securities shall have been authenticated and delivered pursuant to the terms of Section 2.07.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 7; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Person</I></B>&rdquo;</FONT>
means any individual, corporation, partnership, joint venture, joint-stock company, limited liability company, association, trust, unincorporated
organization, any other entity or organization, including a government or political subdivision or an agency or instrumentality thereof.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Predecessor
Security</I></B>&rdquo;</FONT> of any particular Security means every previous Security evidencing all or a portion of the same debt as
that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section
2.07 in lieu of a lost, destroyed or stolen Security shall be deemed to evidence the same debt as the lost, destroyed or stolen Security.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Responsible
Officer</I></B>&rdquo;</FONT> when used with respect to the Trustee means any officer of the Trustee assigned by the Trustee to administer
its corporate trust matters with respect to this Indenture (which, for the avoidance of doubt, includes without limitation any supplemental
indenture hereto).</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Securities</I></B>&rdquo;</FONT>
has the meaning stated in the first recital of this Indenture and more particularly means any Securities authenticated and delivered under
this Indenture.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Securityholder</I></B>&rdquo;</FONT>,
<FONT STYLE="color: black">&ldquo;<B><I>holder of Securities</I></B>&rdquo;</FONT>, <FONT STYLE="color: black">&ldquo;<B><I>registered
holder</I></B>&rdquo;</FONT>, or other similar term, means the Person or Persons in whose name or names a particular Security is registered
on the Security Register kept for that purpose in accordance with the terms of this Indenture.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Security Register</I></B>&rdquo;</FONT>
and <FONT STYLE="color: black">&ldquo;<B><I>Security Registrar</I></B>&rdquo;</FONT> shall have the meanings as set forth in Section 2.05.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">&ldquo;<B><I>Subsidiary</I></B>&rdquo;</FONT>
means, with respect to any Person:</P>

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

<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in">(1)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any corporation or company a majority of whose capital stock with voting power, under ordinary circumstances, to elect directors
is, at the date of determination, directly or indirectly, owned by such Person (a &ldquo;subsidiary&rdquo;), by one or more subsidiaries
of such Person or by such Person and one or more subsidiaries of such Person;</P>

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

<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in">(2)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>A partnership in which such Person or a subsidiary of such Person is, at the date of determination, a general partner of such partnership;
or</P>

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

<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in">(3)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any partnership, limited liability company or other Person in which such Person, a subsidiary of such Person or such Person and
one or more subsidiaries of such Person, directly or indirectly, at the date of determination, have (x) at least a majority ownership
interest or (y) the power to elect or appoint or direct the election or appointment of the managing partner or member of such Person or,
if applicable, a majority of the directors or other governing body of such Person.</P>

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

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

<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 8; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Trustee</I></B>&rdquo; means , and, subject
to the provisions of Article 7, shall also include its successors and assigns, and, if at any time there is more than one Person acting
in such capacity hereunder, &ldquo;Trustee&rdquo; shall mean each such Person. The term &ldquo;Trustee&rdquo; as used with respect to
a particular series of the Securities shall mean the trustee with respect to that series.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Trust Indenture Act</I></B>&rdquo; means
the Trust Indenture Act of 1939, as amended.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">ARTICLE
2<BR>
<BR>
ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION<BR>
AND EXCHANGE OF SECURITIES</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 2.01<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Designation and Terms of Securities</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>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 up to the aggregate principal amount of Securities of that series from time to time authorized
by or pursuant to a Board Resolution or pursuant to one or more indentures supplemental hereto. Prior to the initial issuance of Securities
of any series, there shall be established in or pursuant to a Board Resolution, and set forth in an Officer&rsquo;s Certificate, or established
in one or more indentures supplemental hereto:</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(1)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The title of the Securities of the series (which shall distinguish the Securities of that series from all other Securities);</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(2)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>any limit upon the aggregate principal amount of the Securities of that series which may be authenticated and delivered under
this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of,
other Securities of that series);</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(3)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>the date or dates on which the principal of the Securities of the series is payable;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(4)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>if the price (expressed as a percentage of the aggregate principal amount thereof) at which such Securities will be issued
is a price other than the principal amount thereof, the portion of the principal amount thereof payable upon declaration of acceleration
of the maturity thereof, or if applicable, the portion of the principal amount of such Securities that is convertible into another security
or the method by which any such portion shall be determined;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(5)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>the rate or rates at which the Securities of the series shall bear interest or the manner of calculation of such rate or rates,
if any;</P>

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

<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 9; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(6)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>the date or dates from which such interest shall accrue, the Interest Payment Dates on which such interest will be payable
or the manner of determination of such Interest Payment Dates, the place(s) of payment, and the record date for the determination of holders
to whom interest is payable on any such Interest Payment Dates or the manner of determination of such record dates;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(7)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>the right, if any, to extend the interest payment periods and the duration of such extension;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(8)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>the period or periods within which, the price or prices at which and the terms and conditions upon which Securities of the
series may be redeemed, converted or exchanged, in whole or in part;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(9)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>the obligation, if any, of the Company to redeem or purchase Securities of the series pursuant to any sinking fund, mandatory
redemption, or analogous provisions (including payments made in cash in satisfaction of future sinking fund obligations) 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 shall be redeemed or purchased, in whole or in part, pursuant to such obligation;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(10)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>the form of the Securities of the series including the form of the Certificate of Authentication for such series;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(11)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>if other than denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, the denominations in which
the Securities of the series shall be issuable;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(12)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>any and all other terms (including terms, to the extent applicable, relating to any auction or remarketing of the Securities
of that series and any security for the obligations of the Company with respect to such Securities) with respect to such series (which
terms shall not be inconsistent with the terms of this Indenture, as amended by any supplemental indenture) including any terms which
may be required by or advisable under United States laws or regulations or advisable in connection with the marketing of Securities of
that series;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(13)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>whether the Securities of the series shall be issued in whole or in part in the form of a Global Security or Securities; the
terms and conditions, if any, upon which such Global Security or Securities may be exchanged in whole or in part for other individual
Securities; and the Depositary for such Global Security or Securities;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(14)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>whether the Securities will be convertible into or exchangeable for shares of common stock, preferred stock or other securities
of the Company or any other Person and, if so, the terms and conditions upon which such Securities will be so convertible or exchangeable,
including the conversion or exchange price, as applicable, or how it will be calculated and may be adjusted, any mandatory or optional
(at the Company&rsquo;s option or the holders&rsquo; option) conversion or exchange features, and the applicable conversion or exchange
period;</P>

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

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

<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 10; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(15)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>if other than the full principal amount thereof, the portion of the principal amount of Securities of the series which shall
be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.01;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(16)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>any additional or alternative events of default;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(17)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>additional or alternative covenants (which may include, among other restrictions, restrictions on the Company&rsquo;s ability
or the ability of the Company&rsquo;s Subsidiaries to: incur additional indebtedness; issue additional securities; create liens; pay dividends
or make distributions in respect of the capital stock of the Company or the Company&rsquo;s Subsidiaries; redeem capital stock; place
restrictions on the Company&rsquo;s Subsidiaries&rsquo; ability to pay dividends, make distributions or transfer assets; make investments
or other restricted payments; sell or otherwise dispose of assets; enter into sale-leaseback transactions; engage in transactions with
stockholders or affiliates; issue or sell stock of the Company&rsquo;s Subsidiaries; or effect a consolidation or merger) or financial
covenants (which may include, among other financial covenants, financial covenants that require the Company and its Subsidiaries to maintain
specified interest coverage, fixed charge, cash flow-based, asset-based or other financial ratios) provided for with respect to the Securities
of the series;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(18)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>the currency or currencies, including composite currencies, in which payment of the principal of (and premium, if any) and
interest, if any, on such Securities shall be payable (if other than the currency of the United States of America), which unless otherwise
specified shall be the currency of the United States of America as at the time of payment is legal tender for payment of public or private
debts;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(19)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>if the principal of (and premium, if any) or interest, if any, on such Securities is to be payable, at the election of the
Company or any Holder thereof, in a coin or currency other than that in which such Securities are stated to be payable, then the period
or periods within which, and the terms and conditions upon which, such election may be made;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(20)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>whether interest will be payable in cash or additional Securities at the Company&rsquo;s or the Securityholders&rsquo; option
and the terms and conditions upon which the election may be made;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(21)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>the terms and conditions, if any, upon which the Company shall pay amounts in addition to the stated interest, premium, if
any and principal amounts of the Securities of the series to any Securityholder that is not a &ldquo;United States person&rdquo; for federal
tax purposes;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(22)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>additional or alternative provisions, if any, related to defeasance and discharge of the offered Securities;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(23)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>the applicability of any guarantees;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(24)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>any restrictions on transfer, sale or assignment of the Securities of the series;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(25)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>any other terms of the series; and</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(26)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>the subordination terms of the Securities of the series.</P>

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

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

<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 11; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">All Securities of any one series shall be substantially
identical except as may otherwise be provided in or pursuant to any such Board Resolution or in any indentures supplemental hereto.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">If any of the terms of the series are established by
action taken pursuant to a Board Resolution of the Company, a copy of an appropriate record of such action shall be certified by the secretary
or an assistant secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officer<FONT STYLE="color: black">&rsquo;</FONT>s
Certificate of the Company setting forth the terms of the series.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Securities of any particular series may be issued at
various times, with different dates on which the principal or any installment of principal is payable, with different rates of interest,
if any, or different methods by which rates of interest may be determined, with different dates on which such interest may be payable
and with different redemption dates.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 2.02<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Form of Securities and Trustee&rsquo;s Certificate</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Securities of any series and the Trustee<FONT STYLE="color: black">&rsquo;</FONT>s
certificate of authentication to be borne by such Securities shall be substantially of the tenor and purport as set forth in one or more
indentures supplemental hereto or as provided in a Board Resolution, and set forth in an Officer<FONT STYLE="color: black">&rsquo;</FONT>s
Certificate, and they may have such letters, numbers or other marks of identification or designation and such legends or endorsements
printed, lithographed or engraved thereon as the Company may deem appropriate and as are not inconsistent with the provisions of this
Indenture, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation
of any securities exchange on which Securities of that series may be listed, or to conform to usage.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 2.03<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Denominations: Provisions for Payment</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Securities shall be issuable as registered Securities
and in the denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, subject to Section 2.01(a)(10). The Securities
of a particular series shall bear interest payable on the dates and at the rate specified with respect to that series. Subject to Section
2.01(a)(16), the principal of and the interest on the Securities of any series, as well as any premium thereon in case of redemption thereof
prior to maturity, shall be payable in the coin or currency of the United States of America that at the time is legal tender for public
and private debt, at the office or agency of the Company maintained for that purpose. Each Security shall be dated the date of its authentication.
Interest on the Securities shall be computed on the basis of a 360-day year composed of twelve 30-day months.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The interest installment on any Security that is payable,
and is punctually paid or duly provided for, on any Interest Payment Date for Securities of that series shall be paid to the Person in
whose name said Security (or one or more Predecessor Securities) is registered at the close of business on the regular record date for
such interest installment. In the event that any Security of a particular series or portion thereof is called for redemption and the redemption
date is subsequent to a regular record date with respect to any Interest Payment Date and prior to such Interest Payment Date, interest
on such Security will be paid upon presentation and surrender of such Security as provided in Section 3.03.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 12; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Any interest on any Security that is payable, but is
not punctually paid or duly provided for, on any Interest Payment Date for Securities of the same series (herein called <FONT STYLE="color: black">&ldquo;</FONT>Defaulted
Interest<FONT STYLE="color: black">&rdquo;</FONT>) shall forthwith cease to be payable to the registered holder on the relevant regular
record date by virtue of having been such holder; and such Defaulted Interest shall be paid by the Company, at its election, as provided
in clause (1) or clause (2) below:</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(1)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The Company may make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their
respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted
Interest, which shall be fixed in the following manner: the Company shall notify the Trustee in writing of the amount of Defaulted Interest
proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the
Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements
satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust
for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special
record date for the payment of such Defaulted Interest which shall not be more than 15 or less than 10 days prior to the date of the proposed
payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify
the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment
of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, to each Securityholder at his
or her address as it appears in the Security Register (as hereinafter defined), not less than 10 days prior to such special record date.
Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted
Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered on such
special record date.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(2)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the
requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange,
if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be
deemed practicable by the Trustee.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Unless otherwise set forth in a Board Resolution or
one or more indentures supplemental hereto establishing the terms of any series of Securities pursuant to Section 2.01 hereof, the term
<FONT STYLE="color: black">&ldquo;</FONT>regular record date<FONT STYLE="color: black">&rdquo;</FONT> as used in this Section with respect
to a series of Securities and any Interest Payment Date for such series shall mean either the fifteenth day of the month immediately preceding
the month in which an Interest Payment Date established for such series pursuant to Section 2.01 hereof shall occur, if such Interest
Payment Date is the first day of a month, or the first day of the month in which an Interest Payment Date established for such series
pursuant to Section 2.01 hereof shall occur, if such Interest Payment Date is the fifteenth day of a month, whether or not such date is
a Business Day.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 13; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Subject to the foregoing provisions of this Section,
each Security of a series delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security of such
series shall carry the rights to interest accrued and unpaid, and to accrue, that were carried by such other Security.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 2.04<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Execution and Authentications</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Securities shall be signed on behalf of the Company
by one of its Officers. Signatures may be in the form of a manual or facsimile signature.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Company may use the facsimile signature of any
Person who shall have been an Officer, notwithstanding the fact that at the time the Securities shall be authenticated and delivered or
disposed of such Person shall have ceased to be such an officer of the Company. The Securities may contain such notations, legends or
endorsements required by law, stock exchange rule or usage. Each Security shall be dated the date of its authentication by the Trustee.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">A Security shall not be valid until authenticated manually
by an authorized signatory of the Trustee, or by an Authenticating Agent. Such signature shall be conclusive evidence that the Security
so authenticated has been duly authenticated and delivered hereunder and that the holder is entitled to the benefits of this Indenture.
At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series
executed by the Company to the Trustee for authentication, together with a written order of the Company for the authentication and delivery
of such Securities, signed by an Officer, and the Trustee in accordance with such written order shall authenticate and deliver such Securities.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">In authenticating such Securities and accepting the
additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, if requested,
and (subject to Section 7.01) shall be fully protected in relying upon, an Opinion of Counsel stating that the form and terms thereof
have been established in conformity with the provisions of this Indenture.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Trustee shall not be required to authenticate such
Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee<FONT STYLE="color: black">&rsquo;</FONT>s
own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner that is not reasonably acceptable to
the Trustee.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 2.05<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Registration of Transfer and Exchange</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>Securities of any series may be exchanged upon presentation thereof at the office or agency of the Company designated for such
purpose, for other Securities of such series of authorized denominations, and for a like aggregate principal amount, upon payment of a
sum sufficient to cover any tax or other governmental charge in relation thereto, all as provided in this Section. In respect of any Securities
so surrendered for exchange, the Company shall execute, the Trustee shall authenticate and such office or agency shall deliver in exchange
therefor the Security or Securities of the same series that the Securityholder making the exchange shall be entitled to receive, bearing
numbers not contemporaneously outstanding.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 14; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The Company shall keep, or cause to be kept, at its office or agency designated for such purpose a register or registers (herein
referred to as the &ldquo;Security Register&rdquo;) in which, subject to such reasonable regulations as it may prescribe, the Company
shall register the Securities and the transfers of Securities as in this Article provided and which at all reasonable times shall be open
for inspection by the Trustee. The registrar for the purpose of registering Securities and transfer of Securities as herein provided shall
be appointed as authorized by Board Resolution (the &ldquo;Security Registrar&rdquo;).</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Upon surrender for transfer of any Security at the
office or agency of the Company designated for such purpose, the Company shall execute, the Trustee shall authenticate and such office
or agency shall deliver in the name of the transferee or transferees a new Security or Securities of the same series as the Security presented
for a like aggregate principal amount.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">All Securities presented or surrendered for exchange
or registration of transfer, as provided in this Section, shall be accompanied (if so required by the Company or the Security Registrar)
by a written instrument or instruments of transfer, in form satisfactory to the Company or the Security Registrar, duly executed by the
registered holder or by such holder<FONT STYLE="color: black">&rsquo;</FONT>s duly authorized attorney in writing.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>Except as provided pursuant to Section 2.01 pursuant to a Board Resolution, and set forth in an Officer&rsquo;s Certificate,
or established in one or more indentures supplemental to this Indenture, no service charge shall be made for any exchange or registration
of transfer of Securities, or issue of new Securities in case of partial redemption of any series, but the Company may require payment
of a sum sufficient to cover any tax or other governmental charge in relation thereto, other than exchanges pursuant to Sections 2.06,
3.03(b) and 9.04 not involving any transfer.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The Company shall not be required (i) to issue, exchange or register the transfer of any Securities during a period beginning
at the opening of business 15 days before the day of the mailing of a notice of redemption of less than all the Outstanding Securities
of the same series and ending at the close of business on the day of such mailing, nor (ii) to register the transfer of or exchange any
Securities of any series or portions thereof called for redemption, other than the unredeemed portion of any such Securities being redeemed
in part. The provisions of this Section 2.05 are, with respect to any Global Security, subject to Section 2.11 hereof.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Trustee shall have no obligation or duty to monitor,
determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect
to any transfer of any interest in any Security (including any transfers between or among depositary participants or beneficial owners
of interests in any Global Security) other than to require delivery of such certificates and other documentation or evidence as are expressly
required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial
compliance as to form with the express requirements hereof.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 15; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 2.06<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Temporary Securities</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Pending the preparation of definitive Securities of
any series, the Company may execute, and the Trustee shall authenticate and deliver, temporary Securities (printed, lithographed or typewritten)
of any authorized denomination. Such temporary Securities shall be substantially in the form of the definitive Securities in lieu of which
they are issued, but with such omissions, insertions and variations as may be appropriate for temporary Securities, all as may be determined
by the Company. Every temporary Security of any series shall be executed by the Company and be authenticated by the Trustee upon the same
conditions and in substantially the same manner, and with like effect, as the definitive Securities of such series. Without unnecessary
delay the Company will execute and will furnish definitive Securities of such series and thereupon any or all temporary Securities of
such series may be surrendered in exchange therefor (without charge to the holders), at the office or agency of the Company designated
for the purpose, and the Trustee shall authenticate and such office or agency shall deliver in exchange for such temporary Securities
an equal aggregate principal amount of definitive Securities of such series, unless the Company advises the Trustee to the effect that
definitive Securities need not be executed and furnished until further notice from the Company. Until so exchanged, the temporary Securities
of such series shall be entitled to the same benefits under this Indenture as definitive Securities of such series authenticated and delivered
hereunder.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 2.07<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Mutilated, Destroyed, Lost or Stolen Securities</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">In case any temporary or definitive Security shall
become mutilated or be destroyed, lost or stolen, the Company (subject to the next succeeding sentence) shall execute, and upon the Company<FONT STYLE="color: black">&rsquo;</FONT>s
request the Trustee (subject as aforesaid) shall authenticate and deliver, a new Security of the same series, bearing a number not contemporaneously
outstanding, in exchange and substitution for the mutilated Security, or in lieu of and in substitution for the Security so destroyed,
lost or stolen. In every case the applicant for a substituted Security shall furnish to the Company and the Trustee such security or indemnity
as may be required by them to save each of them harmless, and, in every case of destruction, loss or theft, the applicant shall also furnish
to the Company and the Trustee evidence to their satisfaction of the destruction, loss or theft of the applicant<FONT STYLE="color: black">&rsquo;</FONT>s
Security and of the ownership thereof. The Trustee may authenticate any such substituted Security and deliver the same upon the written
request or authorization of any officer of the Company. Upon the issuance of any substituted Security, 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="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">In case any Security that has matured or is about to
mature shall become mutilated or be destroyed, lost or stolen, the Company may, instead of issuing a substitute Security, pay or authorize
the payment of the same (without surrender thereof except in the case of a mutilated Security) if the applicant for such payment shall
furnish to the Company and the Trustee such security or indemnity as they may require to save them harmless, and, in case of destruction,
loss or theft, evidence to the satisfaction of the Company and the Trustee of the destruction, loss or theft of such Security and of the
ownership thereof.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 16; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Every replacement Security issued pursuant to the provisions
of this Section shall constitute an additional contractual obligation of the Company whether or not the mutilated, destroyed, lost or
stolen Security shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally
and proportionately with any and all other Securities of the same series duly issued hereunder. All Securities shall be held and owned
upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment of mutilated, destroyed,
lost or stolen Securities, and shall preclude (to the extent lawful) any and all other rights or remedies, notwithstanding any law or
statute existing or hereafter enacted to the contrary with respect to the replacement or payment of negotiable instruments or other securities
without their surrender.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 2.08<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Cancellation</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">All Securities surrendered for the purpose of payment,
redemption, exchange or registration of transfer shall, if surrendered to the Company or any paying agent, be delivered to the Trustee
for cancellation, or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu thereof except
as expressly required or permitted by any of the provisions of this Indenture. On request of the Company at the time of such surrender,
the Trustee shall deliver to the Company canceled Securities held by the Trustee. In the absence of such request the Trustee may dispose
of canceled Securities in accordance with its standard procedures and deliver a certificate of disposition to the Company. If the Company
shall otherwise acquire any of the Securities, however, such acquisition shall not operate as a redemption or satisfaction of the indebtedness
represented by such Securities unless and until the same are delivered to the Trustee for cancellation.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 2.09<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Benefits of Indenture</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Nothing in this Indenture or in the Securities, express
or implied, shall give or be construed to give to any Person, other than the parties hereto and the holders of the Securities (and, with
respect to the provisions of Article 14, the holders of any indebtedness of the Company to which the Securities of any series are subordinated)
any legal or equitable right, remedy or claim under or in respect of this Indenture, or under any covenant, condition or provision herein
contained; all such covenants, conditions and provisions being for the sole benefit of the parties hereto and of the holders of the Securities
(and, with respect to the provisions of Article 14, the holders of any indebtedness of the Company to which the Securities of any series
are subordinated).</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 2.10<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Authenticating Agent</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">So long as any of the Securities of any series remain
Outstanding there may be an Authenticating Agent for any or all such series of Securities which the Trustee shall have the right to appoint.
Said Authenticating Agent shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon exchange,
transfer or partial redemption thereof, and Securities so authenticated shall be entitled to the benefits of this Indenture and shall
be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. All references in this Indenture to the authentication
of Securities by the Trustee shall be deemed to include authentication by an Authenticating Agent for such series. Each Authenticating
Agent shall be acceptable to the Company and shall be a corporation that has a combined capital and surplus, as most recently reported
or determined by it, sufficient under the laws of any jurisdiction under which it is organized or in which it is doing business to conduct
a trust business, and that is otherwise authorized under such laws to conduct such business and is subject to supervision or examination
by federal or state authorities. If at any time any Authenticating Agent shall cease to be eligible in accordance with these provisions,
it shall resign immediately.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 17; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Any Authenticating Agent may at any time resign by
giving written notice of resignation to the Trustee and to the Company. The Trustee may at any time (and upon request by the Company shall)
terminate the agency of any Authenticating Agent by giving written notice of termination to such Authenticating Agent and to the Company.
Upon resignation, termination or cessation of eligibility of any Authenticating Agent, the Trustee may appoint an eligible successor Authenticating
Agent acceptable to the Company. Any successor Authenticating Agent, upon acceptance of its appointment hereunder, shall become vested
with all the rights, powers and duties of its predecessor hereunder as if originally named as an Authenticating Agent pursuant hereto.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 2.11<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Global Securities</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>If the Company shall establish pursuant to Section 2.01 that the Securities of a particular series are to be issued as a Global
Security, then the Company shall execute and the Trustee shall, in accordance with Section 2.04, authenticate and deliver a Global Security
that (i) shall represent, and shall be denominated in an amount equal to the aggregate principal amount of, all of the Outstanding Securities
of such series, (ii) shall be registered in the name of the Depositary or its nominee, (iii) shall be delivered by the Trustee to the
Depositary or pursuant to the Depositary&rsquo;s instruction and (iv) shall bear a legend substantially to the following effect: &ldquo;Except
as otherwise provided in Section 2.11 of the Indenture, this Security may be transferred, in whole but not in part, only to another nominee
of the Depositary or to a successor Depositary or to a nominee of such successor Depositary.&rdquo;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>Notwithstanding the provisions of Section 2.05, the Global Security of a series may be transferred, in whole but not in part
and in the manner provided in Section 2.05, only to another nominee of the Depositary for such series, or to a successor Depositary for
such series selected or approved by the Company or to a nominee of such successor Depositary.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>If at any time the Depositary for a series of the Securities notifies the Company that it is unwilling or unable to continue
as Depositary for such series or if at any time the Depositary for such series shall no longer be registered or in good standing under
the Exchange Act, or other applicable statute or regulation, and a successor Depositary for such series is not appointed by the Company
within 90 days after the Company receives such notice or becomes aware of such condition, as the case may be, or if an Event of Default
has occurred and is continuing and the Company has received a request from the Depositary or from the Trustee, this Section 2.11 shall
no longer be applicable to the Securities of such series and the Company will execute, and subject to Section 2.04, the Trustee will authenticate
and deliver the Securities of such series in definitive registered form without coupons, in authorized denominations, and in an aggregate
principal amount equal to the principal amount of the Global Security of such series in exchange for such Global Security. In addition,
the Company may at any time determine that the Securities of any series shall no longer be represented by a Global Security and that the
provisions of this Section 2.11 shall no longer apply to the Securities of such series. In such event the Company will execute and, subject
to Section 2.04, the Trustee, upon receipt of an Officer&rsquo;s Certificate evidencing such determination by the Company, will authenticate
and deliver the Securities of such series in definitive registered form without coupons, in authorized denominations, and in an aggregate
principal amount equal to the principal amount of the Global Security of such series in exchange for such Global Security. Upon the exchange
of the Global Security for such Securities in definitive registered form without coupons, in authorized denominations, the Global Security
shall be canceled by the Trustee. Such Securities in definitive registered form issued in exchange for the Global Security pursuant to
this Section 2.11(c) shall be registered in such names and in such authorized denominations as the Depositary, pursuant to instructions
from its direct or indirect participants or otherwise, shall instruct the Trustee. The Trustee shall deliver such Securities to the Depositary
for delivery to the Persons in whose names such Securities are so registered.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 18; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">ARTICLE
3<BR>
<BR>
REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.01<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Redemption</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Company may redeem the Securities of any series
issued hereunder on and after the dates and in accordance with the terms established for such series pursuant to Section 2.01 hereof.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.02<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Notice of Redemption</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>In case the Company shall desire to exercise such right to redeem all or, as the case may be, a portion of the Securities of
any series in accordance with any right the Company reserved for itself to do so pursuant to Section 2.01 hereof, the Company shall, or
shall cause the Trustee to, give notice of such redemption to holders of the Securities of such series to be redeemed by mailing, first
class postage prepaid, a notice of such redemption not less than 30 days and not more than 90 days before the date fixed for redemption
of that series to such holders at their last addresses as they shall appear upon the Security Register, unless a shorter period is specified
in the Securities to be redeemed. Any notice that is mailed in the manner herein provided shall be conclusively presumed to have been
duly given, whether or not the registered holder receives the notice. In any case, failure duly to give such notice to the holder of any
Security of any series designated for redemption in whole or in part, or any defect in the notice, shall not affect the validity of the
proceedings for the redemption of any other Securities of such series or any other series. In the case of any redemption of Securities
prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture,
the Company shall furnish the Trustee with an Officer&rsquo;s Certificate evidencing compliance with any such restriction.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Each such notice of redemption shall specify the date
fixed for redemption and the redemption price at which Securities of that series are to be redeemed, and shall state that payment of the
redemption price of such Securities to be redeemed will be made at the office or agency of the Company, upon presentation and surrender
of such Securities, that interest accrued to the date fixed for redemption will be paid as specified in said notice, that from and after
said date interest will cease to accrue and that the redemption is from a sinking fund, if such is the case. If less than all the Securities
of a series are to be redeemed, the notice to the holders of Securities of that series to be redeemed in part shall specify the particular
Securities to be so redeemed.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 19; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">In case any Security is to be redeemed in part only,
the notice that relates to such Security shall state the portion of the principal amount thereof to be redeemed, and shall state that
on and after the redemption date, upon surrender of such Security, a new Security or Securities of such series in principal amount equal
to the unredeemed portion thereof will be issued.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>If less than all the Securities of a series are to be redeemed, the Company shall give the Trustee at least 45 days&rsquo;
notice (unless a shorter notice shall be satisfactory to the Trustee) in advance of the date fixed for redemption as to the aggregate
principal amount of Securities of the series to be redeemed, and thereupon the Trustee shall select, by lot or in such other manner as
it shall deem appropriate and fair in its discretion and that may provide for the selection of a portion or portions (equal to one thousand
U.S. dollars ($1,000) or any integral multiple thereof) of the principal amount of such Securities of a denomination larger than $1,000,
the Securities to be redeemed and shall thereafter promptly notify the Company in writing of the numbers of the Securities to be redeemed,
in whole or in part. The Company may, if and whenever it shall so elect, by delivery of instructions signed on its behalf by an Officer,
instruct the Trustee or any paying agent to call all or any part of the Securities of a particular series for redemption and to give notice
of redemption in the manner set forth in this Section, such notice to be in the name of the Company or its own name as the Trustee or
such paying agent may deem advisable. In any case in which notice of redemption is to be given by the Trustee or any such paying agent,
the Company shall deliver or cause to be delivered to, or permit to remain with, the Trustee or such paying agent, as the case may be,
such Security Register, transfer books or other records, or suitable copies or extracts therefrom, sufficient to enable the Trustee or
such paying agent to give any notice by mail that may be required under the provisions of this Section.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.03<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Payment Upon Redemption</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>If the giving of notice of redemption shall have been completed as above provided, the Securities or portions of Securities
of the series to be redeemed specified in such notice shall become due and payable on the date and at the place stated in such notice
at the applicable redemption price, together with interest accrued to the date fixed for redemption and interest on such Securities or
portions of Securities shall cease to accrue on and after the date fixed for redemption, unless the Company shall default in the payment
of such redemption price and accrued interest with respect to any such Security or portion thereof. On presentation and surrender of such
Securities on or after the date fixed for redemption at the place of payment specified in the notice, said Securities shall be paid and
redeemed at the applicable redemption price for such series, together with interest accrued thereon to the date fixed for redemption (but
if the date fixed for redemption is an interest payment date, the interest installment payable on such date shall be payable to the registered
holder at the close of business on the applicable record date pursuant to Section 2.03).</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>Upon presentation of any Security of such series that is to be redeemed in part only, the Company shall execute and the Trustee
shall authenticate and the office or agency where the Security is presented shall deliver to the holder thereof, at the expense of the
Company, a new Security of the same series of authorized denominations in principal amount equal to the unredeemed portion of the Security
so presented.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 20; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.04<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Sinking Fund</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The provisions of Sections 3.04, 3.05 and 3.06 shall
be applicable to any sinking fund for the retirement of Securities of a series, except as otherwise specified as contemplated by Section
2.01 for Securities of such series.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The minimum amount of any sinking fund payment provided
for by the terms of Securities of any series is herein referred to as a <FONT STYLE="color: black">&ldquo;</FONT>mandatory sinking fund
payment,<FONT STYLE="color: black">&rdquo;</FONT> and any payment in excess of such minimum amount provided for by the terms of Securities
of any series is herein referred to as an <FONT STYLE="color: black">&ldquo;</FONT>optional sinking fund payment<FONT STYLE="color: black">&rdquo;</FONT>.
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 3.05. Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the terms
of Securities of such series.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.05<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Satisfaction of Sinking Fund Payments with Securities</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Company (i) may deliver Outstanding Securities
of a series and (ii) may apply as a credit Securities of a series that have been redeemed either at the election of the Company pursuant
to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Securities,
in each case in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series required to
be made pursuant to the terms of such Securities as provided for by the terms of such series, provided that such Securities have not been
previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the redemption 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.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 3.06<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Redemption of Securities for Sinking Fund</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Not less than 45 days prior to each sinking fund payment
date for any series of Securities (unless a shorter period shall be satisfactory to the Trustee), the Company will deliver to the Trustee
an Officer<FONT STYLE="color: black">&rsquo;</FONT>s Certificate specifying the amount of the next ensuing sinking fund payment for that
series pursuant to the terms of the series, the portion thereof, if any, that is to be satisfied by delivering and crediting Securities
of that series pursuant to Section 3.05 and the basis for such credit and will, together with such Officer<FONT STYLE="color: black">&rsquo;</FONT>s
Certificate, deliver to the Trustee any Securities to be so delivered. Not less than 30 days before each such sinking fund payment date
the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 3.02 and
cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section
3.02. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Section
3.03.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 21; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">ARTICLE
4<BR>
<BR>
COVENANTS</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.01<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Payment of Principal, Premium and Interest</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Company will duly and punctually pay or cause to
be paid the principal of (and premium, if any) and interest on the Securities of that series at the time and place and in the manner provided
herein and established with respect to such Securities. Payments of principal on the Securities may be made at the time provided herein
and established with respect to such Securities by U.S. dollar check drawn on and mailed to the address of the Securityholder entitled
thereto as such address shall appear in the Security Register, or U.S. dollar wire transfer to, a U.S. dollar account if such Securityholder
shall have furnished wire instructions to the Trustee no later than 15 days prior to the relevant payment date. Payments of interest on
the Securities may be made at the time provided herein and established with respect to such Securities by U.S. dollar check mailed to
the address of the Securityholder entitled thereto as such address shall appear in the Security Register, or U.S. dollar wire transfer
to, a U.S. dollar account if such Securityholder shall have furnished wire instructions in writing to the Security Registrar and the Trustee
no later than 15 days prior to the relevant payment date.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.02<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Maintenance of Office or Agency</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">So long as any series of the Securities remain Outstanding,
the Company agrees to maintain an office or agency with respect to each such series and at such other location or locations as may be
designated as provided in this Section 4.02, where (i) Securities of that series may be presented for payment, (ii) Securities of that
series may be presented as herein above authorized for registration of transfer and exchange, and (iii) notices and demands to or upon
the Company in respect of the Securities of that series and this Indenture may be given or served, such designation to continue with respect
to such office or agency until the Company shall, by written notice signed by any officer authorized to sign an Officer<FONT STYLE="color: black">&rsquo;</FONT>s
Certificate and delivered to the Trustee, designate some other office or agency for such purposes or any of them. If at any time the Company
shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations,
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, notices and demands. The Company initially appoints the Corporate Trust Office of the Trustee
as its paying agent with respect to the Securities.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.03<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Paying Agents</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>If the Company shall appoint one or more paying agents for all or any series of the Securities, other than the Trustee, the
Company will cause each such paying agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the
Trustee, subject to the provisions of this Section:</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(1)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>that it will hold all sums held by it as such agent for the payment of the principal of (and premium, if any) or interest on
the Securities of that series (whether such sums have been paid to it by the Company or by any other obligor of such Securities) in trust
for the benefit of the Persons entitled thereto;</P>

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

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

<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 22; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(2)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>that it will give the Trustee notice of any failure by the Company (or by any other obligor of such Securities) to make any
payment of the principal of (and premium, if any) or interest on the Securities of that series when the same shall be due and payable;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(3)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>that it will, at any time during the continuance of any failure referred to in the preceding paragraph (a)(2) above, upon the
written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such paying agent; and</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(4)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>that it will perform all other duties of paying agent as set forth in this Indenture.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>If the Company shall act as its own paying agent with respect to any series of the Securities, it will on or before each due
date of the principal of (and premium, if any) or interest on Securities of that series, set aside, segregate and hold in trust for the
benefit of the Persons entitled thereto a sum sufficient to pay such principal (and premium, if any) or interest so becoming due on Securities
of that series until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the
Trustee of such action, or any failure (by it or any other obligor on such Securities) to take such action. Whenever the Company shall
have one or more paying agents for any series of Securities, it will, prior to each due date of the principal of (and premium, if any)
or interest on any Securities of that series, deposit with the paying agent a sum sufficient to pay the principal (and premium, if any)
or interest so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal, premium or interest,
and (unless such paying agent is the Trustee) the Company will promptly notify the Trustee of this action or failure so to act.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>Notwithstanding anything in this Section to the contrary, (i) the agreement to hold sums in trust as provided in this Section
is subject to the provisions of Section 11.05, and (ii) the Company may at any time, for the purpose of obtaining the satisfaction and
discharge of this Indenture or for any other purpose, pay, or direct any paying agent to pay, to the Trustee all sums held in trust by
the Company or such paying agent, such sums to be held by the Trustee upon the same terms and conditions as those upon which such sums
were held by the Company or such paying agent; and, upon such payment by the Company or any paying agent to the Trustee, the Company or
such paying agent shall be released from all further liability with respect to such money.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.04<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Appointment to Fill Vacancy in Office of Trustee</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Company, whenever necessary to avoid or fill a
vacancy in the office of Trustee, will appoint, in the manner provided in Section 7.10, a Trustee, so that there shall at all times be
a Trustee hereunder.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 4.05<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Compliance with Consolidation Provisions</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Company will not, while any of the Securities remain
Outstanding, consolidate with or merge into any other Person, in either case where the Company is not the survivor of such transaction,
or sell or convey all or substantially all of its property to any other Person unless the provisions of Article 10 hereof are complied
with.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 23; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">ARTICLE
5<BR>
<BR>
SECURITYHOLDERS&rsquo; LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 5.01<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Company to Furnish Trustee Names and Addresses of Securityholders</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Company will furnish or cause to be furnished to
the Trustee (a) within 15 days after each regular record date (as defined in Section 2.03) a list, in such form as the Trustee may reasonably
require, of the names and addresses of the holders of each series of Securities as of such regular record date, provided that the Company
shall not be obligated to furnish or cause to furnish such list at any time that the list shall not differ in any respect from the most
recent list furnished to the Trustee by the Company and (b) at such other times as the Trustee may request in writing within 30 days after
the receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days prior to the time
such list is furnished; provided, however, that, in either case, no such list need be furnished for any series for which the Trustee shall
be the Security Registrar.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 5.02<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Preservation Of Information; Communications With Securityholders</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses
of the holders of Securities contained in the most recent list furnished to it as provided in Section 5.01 and as to the names and addresses
of holders of Securities received by the Trustee in its capacity as Security Registrar (if acting in such capacity).</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The Trustee may destroy any list furnished to it as provided in Section 5.01 upon receipt of a new list so furnished.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>Securityholders may communicate as provided in Section 312(b) of the Trust Indenture Act with other Securityholders with respect
to their rights under this Indenture or under the Securities, and, in connection with any such communications, the Trustee shall satisfy
its obligations under Section 312(b) of the Trust Indenture Act in accordance with the provisions of Section 312(b) of the Trust Indenture
Act.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 5.03<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Reports by the Company</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The Company covenants and agrees to provide (which delivery may be via electronic mail) to the Trustee within 30 days, after
the Company files the same with the Commission, 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 Commission may from time to time by rules and regulations prescribe) that the Company
is required to file with the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; provided, however, the Company shall
not be required to deliver to the Trustee any materials for which the Company has sought and received confidential treatment by the Commission;
and provided further, that so long as such filings by the Company are available on the Commission&rsquo;s Electronic Data Gathering, Analysis
and Retrieval System (EDGAR), or Interactive Data Electronic Applications (IDEA), or any successor system, such filings shall be deemed
to have been filed with the Trustee for purposes hereof without any further action required by the Company; provided that an electronic
link to such filing, together with an electronic notice of such filing have been sent to the Trustee. For the avoidance of doubt, a failure
by the Company to file annual reports, information and other reports with the SEC within the time period prescribed thereof by the Commission
shall not be deemed a breach of this Section 5.03.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 24; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>Delivery of reports, information and documents to the Trustee under this Section 5.03 is for informational purposes only and
the information and the Trustee&rsquo;s receipt of the foregoing shall not constitute constructive notice of any information contained
therein, or determinable from information contained therein including the Company&rsquo;s compliance with any of their covenants thereunder
(as to which the Trustee is entitled to rely exclusively on an Officer&rsquo;s Certificate).</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 5.04<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Reports by the Trustee</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>If required by Section 313(a) of the Trust Indenture Act, the Trustee, within 60 days after each May 1, shall transmit by mail,
first class postage prepaid, to the Securityholders, as their names and addresses appear upon the Security Register, a brief report dated
as of such May 1, which complies with Section 313(a) of the Trust Indenture Act.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The Trustee shall comply with Sections 313(b) and 313(c) of the Trust Indenture Act.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>A copy of each such report shall, at the time of such transmission to Securityholders, be filed by the Trustee with the Company,
with each securities exchange upon which any Securities are listed (if so listed) and also with the Commission. The Company agrees to
notify the Trustee when any Securities become listed on any securities exchange.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">ARTICLE
6<BR>
<BR>
REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.01<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Events of Default</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>Whenever used herein with respect to Securities of a particular series, &ldquo;Event of Default&rdquo; means any one or more
of the following events that has occurred and is continuing:</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(1)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>the Company defaults in the payment of any installment of interest upon any of the Securities of that series, as and when the
same shall become due and payable, and such default continues for a period of 90 days; provided, however, that a valid extension of an
interest payment period by the Company in accordance with the terms of any indenture supplemental hereto shall not constitute a default
in the payment of interest for this purpose;</P>

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

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

<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 25; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(2)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>the Company defaults in the payment of the principal of (or premium, if any, on) any of the Securities of that series as and
when the same shall become due and payable whether at maturity, upon redemption, by declaration or otherwise, or in any payment required
by any sinking or analogous fund established with respect to that series; provided, however, that a valid extension of the maturity of
such Securities in accordance with the terms of any indenture supplemental hereto shall not constitute a default in the payment of principal
or premium, if any;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(3)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>the Company fails to observe or perform any other of its covenants or agreements with respect to that series contained in this
Indenture or otherwise established with respect to that series of Securities pursuant to Section 2.01 hereof (other than a covenant or
agreement that has been expressly included in this Indenture solely for the benefit of one or more series of Securities other than such
series) for a period of 90 days after the date on which written notice of such failure, requiring the same to be remedied and stating
that such notice is a &ldquo;Notice of Default&rdquo; hereunder, shall have been given to the Company by the Trustee, by registered or
certified mail, or to the Company and the Trustee by the holders of at least 25% in principal amount of the Securities of that series
at the time Outstanding;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(4)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>the Company pursuant to or within the meaning of any Bankruptcy Law (i) commences a voluntary case, (ii) consents to the entry
of an order for relief against it in an involuntary case, (iii) consents to the appointment of a Custodian of it or for all or substantially
all of its property or (iv) makes a general assignment for the benefit of its creditors; or</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(5)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>a court of competent jurisdiction enters an order under any Bankruptcy Law that (i) is for relief against the Company in an
involuntary case, (ii) appoints a Custodian of the Company for all or substantially all of its property or (iii) orders the liquidation
of the Company, and the order or decree remains unstayed and in effect for 90 days.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>In each and every such case (other than an Event of Default specified in clause (4) or clause (5) above), unless the principal
of all the Securities of that series shall have already become due and payable, either the Trustee or the holders of not less than 25%
in aggregate principal amount of the Securities of that series then Outstanding hereunder, by notice in writing to the Company (and to
the Trustee if given by such Securityholders), may declare the principal of (and premium, if any, on) and accrued and unpaid interest
on all the Securities of that series to be due and payable immediately, and upon any such declaration the same shall become and shall
be immediately due and payable. If an Event of Default specified in clause (4) or clause (5) above occurs, the principal of and accrued
and unpaid interest on all the Securities of that series shall automatically be immediately due and payable without any declaration or
other act on the part of the Trustee or the holders of the Securities.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>At any time after the principal of (and premium, if any, on) and accrued and unpaid interest on the Securities of that series
shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained
or entered as hereinafter provided, the holders of a majority in aggregate principal amount of the Securities of that series then Outstanding
hereunder, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if (i) the Company
has paid or deposited with the Trustee a sum sufficient to pay all matured installments of interest upon all the Securities of that series
and the principal of (and premium, if any, on) any and all Securities of that series that shall have become due otherwise than by acceleration
(with interest upon such principal and premium, if any, and, to the extent that such payment is enforceable under applicable law, upon
overdue installments of interest, at the rate per annum expressed in the Securities of that series to the date of such payment or deposit)
and the amount payable to the Trustee under Section 7.06, and (ii) any and all Events of Default under this Indenture with respect to
such series, other than the nonpayment of principal on (and premium, if any, on) and accrued and unpaid interest on Securities of that
series that shall not have become due by their terms, shall have been remedied or waived as provided in Section 6.06.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 26; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">No such rescission and annulment shall extend to or
shall affect any subsequent default or impair any right consequent thereon.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>In case the Trustee shall have proceeded to enforce any right with respect to Securities of that series under this Indenture
and such proceedings shall have been discontinued or abandoned because of such rescission or annulment or for any other reason or shall
have been determined adversely to the Trustee, then and in every such case, subject to any determination in such proceedings, the Company
and the Trustee shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of
the Company and the Trustee shall continue as though no such proceedings had been taken.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.02<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Collection of Indebtedness and Suits for Enforcement by Trustee</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The Company covenants that (i) in case it shall default in the payment of any installment of interest on any of the Securities
of a series, or in any payment required by any sinking or analogous fund established with respect to that series as and when the same
shall have become due and payable, and such default shall have continued for a period of 90 days, or (ii) in case it shall default in
the payment of the principal of (or premium, if any, on) any of the Securities of a series when the same shall have become due and payable,
whether upon maturity of the Securities of a series or upon redemption or upon declaration or otherwise then, upon demand of the Trustee,
the Company will pay to the Trustee, for the benefit of the holders of the Securities of that series, the whole amount that then shall
have been become due and payable on all such Securities for principal (and premium, if any) or interest, or both, as the case may be,
with interest upon the overdue principal (and premium, if any) and (to the extent that payment of such interest is enforceable under applicable
law) upon overdue installments of interest at the rate per annum expressed in the Securities of that series; and, in addition thereto,
such further amount as shall be sufficient to cover the costs and expenses of collection, and the amount payable to the Trustee under
Section 7.06.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>If the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an
express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums
so due and unpaid, and may prosecute any such action or proceeding to judgment or final decree, and may enforce any such judgment or final
decree against the Company or other obligor upon the Securities of that series and collect the moneys adjudged or decreed to be payable
in the manner provided by law or equity out of the property of the Company or other obligor upon the Securities of that series, wherever
situated.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 27; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>In case of any receivership, insolvency, liquidation, bankruptcy, reorganization, readjustment, arrangement, composition or
judicial proceedings affecting the Company, or its creditors or property, the Trustee shall have power to intervene in such proceedings
and take any action therein that may be permitted by the court and shall (except as may be otherwise provided by law) be entitled to file
such proofs of claim and other papers and documents as may be necessary or advisable in order to have the claims of the Trustee and of
the holders of Securities of such series allowed for the entire amount due and payable by the Company under this Indenture at the date
of institution of such proceedings and for any additional amount that may become due and payable by the Company after such date, and to
collect and receive any moneys or other property payable or deliverable on any such claim, and to distribute the same after the deduction
of the amount payable to the Trustee under Section 7.06; and any receiver, assignee or trustee in bankruptcy or reorganization is hereby
authorized by each of the holders of Securities of such series to make such payments to the Trustee, and, in the event that the Trustee
shall consent to the making of such payments directly to such Securityholders, to pay to the Trustee any amount due it under Section 7.06.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>All rights of action and of asserting claims under this Indenture, or under any of the terms established with respect to Securities
of that series, may be enforced by the Trustee without the possession of any of such Securities, or the production thereof at any trial
or other proceeding relative thereto, and any such suit or 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 payment to the Trustee of any amounts due under Section 7.06,
be for the ratable benefit of the holders of the Securities of such series.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">In case of an Event of Default hereunder, the Trustee
may in its discretion proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings
as the Trustee shall deem most effectual to protect and enforce any of such rights, either at law or in equity or in bankruptcy or otherwise,
whether for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted
in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Nothing contained herein shall be deemed to authorize
the Trustee to authorize or consent to or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment
or composition affecting the Securities of that series or the rights of any holder thereof or to authorize the Trustee to vote in respect
of the claim of any Securityholder in any such proceeding.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.03<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Application of Moneys Collected</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Any moneys collected by the Trustee pursuant to this
Article with respect to a particular series of Securities shall be applied in the following order, at the date or dates fixed by the Trustee
and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest, upon presentation of the Securities
of that series, and notation thereon of the payment, if only partially paid, and upon surrender thereof if fully paid:</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">FIRST: To the payment of all indebtedness of the Company
to which such series of Securities is subordinated to the extent required by Section 7.06 and any subordination terms of the series specified
as contemplated by Article 14;</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 28; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">SECOND: To the payment of the amounts then due and
unpaid upon Securities of such series for principal (and premium, if any) and interest, 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 premium, if any) and interest, respectively; and</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">THIRD: To the payment of the remainder, if any, to
the Company or any other Person lawfully entitled thereto.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.04<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Limitation on Suits</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">No holder of any Security of any series shall have
any right by virtue or by availing of any provision of this Indenture to institute any suit, action or proceeding in equity or at law
upon or under or with respect to this Indenture or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless
(i) such holder previously shall have given to the Trustee written notice of an Event of Default and of the continuance thereof with respect
to the Securities of such series specifying such Event of Default, as hereinbefore provided; (ii) the holders of not less than 25% in
aggregate principal amount of the Securities of such series then Outstanding shall have made written request upon the Trustee to institute
such action, suit or proceeding in its own name as Trustee hereunder; (iii) such holder or holders shall have offered to the Trustee such
reasonable indemnity as it may require against the costs, expenses and liabilities to be incurred therein or thereby; (iv) the Trustee
for 90 days after its receipt of such notice, request and offer of indemnity, shall have failed to institute any such action, suit or
proceeding; and (v) during such 90 day period, the holders of a majority in principal amount of the Securities of that series do not give
the Trustee a direction inconsistent with the request.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Notwithstanding anything contained herein to the contrary
or any other provisions of this Indenture, the right of any holder of any Security to receive payment of the principal of (and premium,
if any) and interest on such Security, as therein provided, on or after the respective due dates expressed in such Security (or in the
case of redemption, on the redemption date), or to institute suit for the enforcement of any such payment on or after such respective
dates or redemption date, shall not be impaired or affected without the consent of such holder and by accepting a Security hereunder it
is expressly understood, intended and covenanted by the taker and holder of every Security of such series with every other such taker
and holder and the Trustee, that no one or more holders of Securities of such series shall have any right in any manner whatsoever by
virtue or by availing of any provision of this Indenture to affect, disturb or prejudice the rights of the holders of any other of such
Securities, or to obtain or seek to obtain priority over or preference to any other such holder, or to enforce any right under this Indenture,
except in the manner herein provided and for the equal, ratable and common benefit of all holders of Securities of such series. For the
protection and enforcement of the provisions of this Section, each and every Securityholder and the Trustee shall be entitled to such
relief as can be given either at law or in equity.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 29; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.05<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Rights and Remedies Cumulative; Delay or Omission Not Waiver</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>Except as otherwise provided in Section 2.07, all powers and remedies given by this Article to the Trustee or to the Securityholders
shall, to the extent permitted by law, be deemed cumulative and not exclusive of any other powers and remedies available to the Trustee
or the holders of the Securities, by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and
agreements contained in this Indenture or otherwise established with respect to such Securities.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>No delay or omission of the Trustee or of any holder of any of the Securities to exercise any right or power accruing upon
any Event of Default occurring and continuing as aforesaid shall impair any such right or power, or shall be construed to be a waiver
of any such default or an acquiescence therein; and, subject to the provisions of Section 6.04, every power and remedy given by this Article
or by law to the Trustee or the Securityholders may be exercised from time to time, and as often as shall be deemed expedient, by the
Trustee or by the Securityholders.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.06<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Control by Securityholders</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The holders of a majority in aggregate principal amount
of the Securities of any series at the time Outstanding, determined in accordance with Section 8.04, 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 such series; provided, however, that such direction shall not be in conflict with any rule of law or with
this Indenture or subject the Trustee in its sole discretion to personal liability. Subject to the provisions of Section 7.01, the Trustee
shall have the right to decline to follow any such direction if the Trustee in good faith shall, by a Responsible Officer or officers
of the Trustee, determine that the proceeding so directed, subject to the Trustee<FONT STYLE="color: black">&rsquo;</FONT>s duties under
the Trust Indenture Act, would involve the Trustee in personal liability or might be unduly prejudicial to the Securityholders not involved
in the proceeding. The holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding affected
thereby, determined in accordance with Section 8.04, may on behalf of the holders of all of the Securities of such series waive any past
default in the performance of any of the covenants contained herein or established pursuant to Section 2.01 with respect to such series
and its consequences, except a default in the payment of the principal of, or premium, if any, or interest on, any of the Securities of
that series as and when the same shall become due by the terms of such Securities otherwise than by acceleration (unless such default
has been cured and a sum sufficient to pay all matured installments of interest and principal and any premium has been deposited with
the Trustee (in accordance with Section 6.01(c)). Upon any such waiver, the default covered thereby shall be deemed to be cured for all
purposes of this Indenture and the Company, the Trustee and the holders of the Securities of such series shall be restored to their former
positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other default or impair any right consequent
thereon.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 30; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 6.07<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Undertaking to Pay Costs</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">All parties to this Indenture agree, and each holder
of any Securities by such holder<FONT STYLE="color: black">&rsquo;</FONT>s 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 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<FONT STYLE="color: black">&rsquo;</FONT>
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 shall not apply to any suit instituted by the Trustee, to any suit instituted by any Securityholder,
or group of Securityholders, holding more than 10% in aggregate principal amount of the Outstanding Securities of any series, or to any
suit instituted by any Securityholder for the enforcement of the payment of the principal of (or premium, if any) or interest on any Security
of such series, on or after the respective due dates expressed in such Security or established pursuant to this Indenture.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">ARTICLE
7<BR>
<BR>
CONCERNING THE TRUSTEE</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 7.01<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Certain Duties and Responsibilities of Trustee</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a series and after the curing
of all Events of Default with respect to the Securities of that series that may have occurred, shall undertake to perform with respect
to the Securities of such series such duties and only such duties as are specifically set forth in this Indenture, and no implied covenants
shall be read into this Indenture against the Trustee. In case an Event of Default with respect to the Securities of a series has occurred
(that has not been cured or waived), the Trustee shall exercise with respect to Securities of that series such of the rights and powers
vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent man would exercise or use under
the circumstances in the conduct of his own affairs.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own
negligent failure to act, or its own willful misconduct, except that:</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>prior to the occurrence of an Event of Default with respect to the Securities of a series and after the curing or waiving of
all such Events of Default with respect to that series that may have occurred:</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in"><B>(A)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>the duties and obligations of the Trustee shall with respect to the Securities of such series be determined solely by the express
provisions of this Indenture, and the Trustee shall not be liable with respect to the Securities of such series except for the performance
of such duties and obligations as are specifically set forth in this Indenture, and no implied covenants or obligations shall be read
into this Indenture against the Trustee; and</P>

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

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

<P STYLE="margin: 0pt 0 0pt 1in; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 31; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 47.5pt"><B>(B)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>in the absence of bad faith on the part of the Trustee, the Trustee may with respect to the Securities of such series conclusively
rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished
to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions that by any
provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine
whether or not they conform to the requirements of this Indenture;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 47.5pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer or Responsible Officers
of the Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with
the direction of the holders of not less than a majority in principal amount of the Securities of any series at the time Outstanding 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 that series; and</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(iv)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>none of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur
personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers if there is reasonable
ground for believing that the repayment of such funds or liability is not reasonably assured to it under the terms of this Indenture or
adequate indemnity against such risk is not reasonably assured to it.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 7.02<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Certain Rights of Trustee</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Except as otherwise provided in Section 7.01:</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement,
instrument, opinion, report, notice, request, consent, order, approval, bond, security or other paper or document believed by it to be
genuine and to have been signed or presented by the proper party or parties;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>Any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by a Board Resolution
or an instrument signed in the name of the Company by any authorized officer of the Company (unless other evidence in respect thereof
is specifically prescribed herein);</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The Trustee may consult with counsel and the written advice of such counsel or, if requested, any Opinion of Counsel shall
be full and complete authorization and protection in respect of any action taken or suffered or omitted hereunder in good faith and in
reliance thereon;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request,
order or direction of any of the Securityholders pursuant to the provisions of this Indenture, unless such Securityholders shall have
offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities that may be incurred therein or thereby;
nothing contained herein shall, however, relieve the Trustee of the obligation, upon the occurrence of an Event of Default with respect
to a series of the Securities (that has not been cured or waived), to exercise with respect to Securities of that series such of the rights
and powers vested in it by this Indenture, and to use the same degree of care and skill in their exercise, as a prudent man would exercise
or use under the circumstances in the conduct of his own affairs;</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 32; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The Trustee shall not be liable for any action taken or omitted to be taken by it in good faith and believed by it to be authorized
or within the discretion or rights or powers conferred upon it by this Indenture;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(f)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>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, consent, order, approval, bond, security, or other papers or documents, unless requested
in writing so to do by the holders of not less than a majority in principal amount of the Outstanding Securities of the particular series
affected thereby (determined as provided in Section 8.04); provided, however, that if the payment within a reasonable time to the Trustee
of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee,
not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require reasonable
indemnity against such costs, expenses or liabilities as a condition to so proceeding. The reasonable expense of every such examination
shall be paid by the Company or, if paid by the Trustee, shall be repaid by the Company upon demand;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(g)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through
agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed
with due care by it hereunder;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(h)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder
arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages,
accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions,
loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall
use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable
under the circumstances;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>In no event shall the Trustee be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever
(including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or
damage and regardless of the form of action; and</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(j)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture sent by unsecured e-mail, facsimile
transmission or other similar unsecured electronic methods; provided, however, that (a) the party providing such written instructions,
subsequent to such transmission of written instructions, shall provide the originally executed instructions or directions to the Trustee
in a timely manner, and (b) such originally executed instructions or directions shall be signed by an authorized representative of the
party providing such instructions or directions. If the party elects to give the Trustee e-mail or facsimile instructions (or instructions
by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee&rsquo;s understanding
of such instructions shall be deemed controlling. The Trustee shall not be liable for any losses, costs or expenses arising directly or
indirectly from the Trustee&rsquo;s reliance upon and compliance with such instructions notwithstanding such instructions conflict or
are inconsistent with a subsequent written instruction. The party providing electronic instructions agrees to assume all risks arising
out of the use of such electronic methods to submit instructions and directions to the Trustee, including without limitation the risk
of the Trustee acting on unauthorized instructions, and the risk or interception and misuse by third parties.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 33; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">In addition, the Trustee shall not be deemed to have
knowledge of any Default or Event of Default until the Trustee shall have received written notification in the manner set forth in this
Indenture or a Responsible Officer of the Trustee shall have obtained actual knowledge.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 7.03<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Trustee Not Responsible for Recitals or Issuance or Securities</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The recitals contained herein and in the Securities shall be taken as the statements of the Company, and the Trustee assumes
no responsibility for the correctness of the same.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The Trustee shall not be accountable for the use or application by the Company of any of the Securities or of the proceeds
of such Securities, or for the use or application of any moneys paid over by the Trustee in accordance with any provision of this Indenture
or established pursuant to Section 2.01, or for the use or application of any moneys received by any paying agent other than the Trustee.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 7.04<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>May Hold Securities</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Trustee or any paying agent or Security Registrar,
in its individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not
Trustee, paying agent or Security Registrar.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 7.05<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Moneys Held in Trust</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Subject to the provisions of Section 11.05, all moneys
received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received,
but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest
on any moneys received by it hereunder except such as it may agree with the Company to pay thereon.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 7.06<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Compensation and Reimbursement</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The Company covenants and agrees to pay to the Trustee, and the Trustee shall be entitled to, such reasonable compensation
(which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) as the Company and
the Trustee may from time to time agree in writing, for all services rendered by it in the execution of the trusts hereby created and
in the exercise and performance of any of the powers and duties hereunder of the Trustee, and, except as otherwise expressly provided
herein, the Company will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred
or made by the Trustee in accordance with any of the provisions of this Indenture (including the reasonable compensation and the expenses
and disbursements of its counsel and of all Persons not regularly in its employ), except any such expense, disbursement or advance as
may arise from its negligence or bad faith and except as the Company and Trustee may from time to time agree in writing. The Company also
covenants to indemnify the Trustee (and its officers, agents, directors and employees) for, and to hold it harmless against, any loss,
liability or expense incurred without negligence or bad faith on the part of the Trustee and arising out of or in connection with the
acceptance or administration of this trust, including the reasonable costs and expenses of defending itself against any claim of liability
in the premises.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 34; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The obligations of the Company under this Section to compensate and indemnify the Trustee and to pay or reimburse the Trustee
for reasonable expenses, disbursements and advances shall constitute indebtedness of the Company to which the Securities are subordinated.
Such additional indebtedness shall be secured by a lien prior to that of the Securities upon all property and funds held or collected
by the Trustee as such, except funds held in trust for the benefit of the holders of particular Securities.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 7.07<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Reliance on Officer&rsquo;s Certificate</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Except as otherwise provided in Section 7.01, whenever
in the administration of the provisions of this Indenture the Trustee shall deem it reasonably necessary or desirable that a matter be
proved or established prior to taking or suffering or omitting to take any action hereunder, such matter (unless other evidence in respect
thereof be herein specifically prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to be
conclusively proved and established by an Officer<FONT STYLE="color: black">&rsquo;</FONT>s Certificate delivered to the Trustee and such
certificate, in the absence of negligence or bad faith on the part of the Trustee, shall be full warrant to the Trustee for any action
taken, suffered or omitted to be taken by it under the provisions of this Indenture upon the faith thereof.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 7.08<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Disqualification; Conflicting Interests</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">If the Trustee has or shall acquire any <FONT STYLE="color: black">&ldquo;</FONT>conflicting
interest<FONT STYLE="color: black">&rdquo;</FONT> within the meaning of Section 310(b) of the Trust Indenture Act, the Trustee and the
Company shall in all respects comply with the provisions of Section 310(b) of the Trust Indenture Act.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 7.09<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Corporate Trustee Required; Eligibility</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">There shall at all times be a Trustee with respect
to the Securities issued hereunder which shall at all times be a corporation organized and doing business under the laws of the United
States of America or any state or territory thereof or of the District of Columbia, or a corporation or other Person permitted to act
as trustee by the Commission, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of
at least fifty million U.S. dollars ($50,000,000), and subject to supervision or examination by federal, state, territorial, or District
of Columbia authority.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">If such corporation or other Person publishes reports
of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the
purposes of this Section, the combined capital and surplus of such corporation or other Person shall be deemed to be its combined capital
and surplus as set forth in its most recent report of condition so published. The Company may not, nor may any Person directly or indirectly
controlling, controlled by, or under common control with the Company, serve as Trustee. In case at any time the Trustee shall cease to
be eligible in accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect
specified in Section 7.10.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 35; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 7.10<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Resignation and Removal; Appointment of Successor</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The Trustee or any successor hereafter appointed may at any time resign with respect to the Securities of one or more series
by giving written notice thereof to the Company and by transmitting notice of resignation by mail, first class postage prepaid, to the
Securityholders of such series, as their names and addresses appear upon the Security Register. Upon receiving such notice of resignation,
the Company shall promptly appoint a successor trustee with respect to Securities of such series by written instrument, in duplicate,
executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to
the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the mailing
of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor
trustee with respect to Securities of such series, or any Securityholder of that series who has been a bona fide holder of a Security
or Securities for at least six months may on behalf of himself and all others similarly situated, petition any such court for the appointment
of a successor trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>In case at any time any one of the following shall occur:</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>the Trustee shall fail to comply with the provisions of Section 7.08 after written request therefor by the Company or by any
Securityholder who has been a bona fide holder of a Security or Securities for at least six months; or</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>the Trustee shall cease to be eligible in accordance with the provisions of Section 7.09 and shall fail to resign after written
request therefor by the Company or by any such Securityholder; or</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>(iii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or commence a voluntary bankruptcy
proceeding, or a receiver of the Trustee or of its property shall be appointed or consented to, or any public officer shall take charge
or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation; then, in any such
case, the Company may remove the Trustee with respect to all Securities and appoint a successor trustee by written instrument, in duplicate,
executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to
the successor trustee, or any Securityholder who has been a bona fide holder of a Security or Securities for at least six months may,
on behalf of that holder and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee
and the appointment of a successor trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe, remove
the Trustee and appoint a successor trustee.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding may at any
time remove the Trustee with respect to such series by so notifying the Trustee and the Company and may appoint a successor Trustee for
such series with the consent of the Company.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><B>(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>Any resignation or removal of the Trustee and appointment of a successor trustee with respect to the Securities of a series
pursuant to any of the provisions of this Section shall become effective upon acceptance of appointment by the successor trustee as provided
in Section 7.11.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><B>(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>Any successor trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series
or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.</P>


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

<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 36; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 7.11<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Acceptance of Appointment By Successor</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>In case of the appointment hereunder of a successor trustee with respect to all Securities, every such successor trustee so
appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment,
and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor trustee, without any further
act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request
of the Company or the successor trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring
to such successor trustee all the rights, powers, and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such
successor trustee all property and money held by such retiring Trustee hereunder.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>In case of the appointment hereunder of a successor trustee with respect to the Securities of one or more (but not all) series,
the Company, the retiring Trustee and each successor trustee with respect to the Securities of one or more series shall execute and deliver
an indenture supplemental hereto wherein each successor trustee shall accept such appointment and which (i) shall contain such provisions
as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor trustee all the rights, powers, trusts and
duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor trustee
relates, (ii) shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and
duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring
shall continue to be vested in the retiring Trustee, and (iii) shall add to or change any of the provisions of this Indenture as shall
be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that
nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust, that each such Trustee
shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee
and that no Trustee shall be responsible for any act or failure to act on the part of any other Trustee hereunder; and upon the execution
and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided
therein, such retiring Trustee shall with respect to the Securities of that or those series to which the appointment of such successor
trustee relates have no further responsibility for the exercise of rights and powers or for the performance of the duties and obligations
vested in the Trustee under this Indenture, and each such successor trustee, without any further act, deed or conveyance, shall become
vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to
which the appointment of such successor trustee relates; but, on request of the Company or any successor trustee, such retiring Trustee
shall duly assign, transfer and deliver to such successor trustee, to the extent contemplated by such supplemental indenture, the property
and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such
successor trustee relates.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 37; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>Upon request of any such successor trustee, the Company shall execute any and all instruments for more fully and certainly
vesting in and confirming to such successor trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section,
as the case may be.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>No successor trustee shall accept its appointment unless at the time of such acceptance such successor trustee shall be qualified
and eligible under this Article.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>Upon acceptance of appointment by a successor trustee as provided in this Section, the Company shall transmit notice of the
succession of such trustee hereunder by mail, first class postage prepaid, to the Securityholders, as their names and addresses appear
upon the Security Register. If the Company fails to transmit such notice within ten days after acceptance of appointment by the successor
trustee, the successor trustee shall cause such notice to be transmitted at the expense of the Company.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 7.12<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Merger, Conversion, Consolidation or Succession to Business</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Any corporation into which the Trustee may be merged
or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which
the Trustee shall be a party, or any corporation succeeding to the corporate trust business of the Trustee, including the administration
of the trust created by this Indenture, shall be the successor of the Trustee hereunder, provided that such corporation shall be qualified
under the provisions of Section 7.08 and eligible under the provisions of Section 7.09, without the execution or filing of any paper or
any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. In case any Securities shall
have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such
authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor
Trustee had itself authenticated such Securities.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 38; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 7.13<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Preferential Collection of Claims Against the Company</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Trustee shall comply with Section 311(a) of the
Trust Indenture Act, excluding any creditor relationship described in Section 311(b) of the Trust Indenture Act. A Trustee who has resigned
or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent included therein.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 7.14<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Notice of Default</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">If any Event of Default occurs and is continuing and
if such Event of Default is known to a Responsible Officer of the Trustee, the Trustee shall mail to each Securityholder in the manner
and to the extent provided in Section 313(c) of the Trust Indenture Act notice of the Event of Default within the earlier of 90 days after
it occurs and 30 days after it is known to a Responsible Officer of the Trustee or written notice of it is received by the Trustee, unless
such Event of Default has been cured; provided, however , that, except in the case of a default in the payment of the principal of (or
premium, if any) or interest on any Security, the Trustee shall be protected in withholding such notice if and so long as the board of
directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Trustee in good faith determine
that the withholding of such notice is in the interest of the Securityholders.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">ARTICLE
8<BR>
<BR>
CONCERNING THE SECURITYHOLDERS</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 8.01<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Evidence of Action by Securityholders</U></B><U><I>.</I></U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Whenever in this Indenture it is provided that the
holders of a majority or specified percentage in aggregate principal amount of the Securities of a particular series may take any action
(including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact
that at the time of taking any such action the holders of such majority or specified percentage of that series have joined therein may
be evidenced by any instrument or any number of instruments of similar tenor executed by such holders of Securities of that series in
person or by agent or proxy appointed in writing.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">If the Company shall solicit from the Securityholders
of any series any request, demand, authorization, direction, notice, consent, waiver or other action, the Company may, at its option,
as evidenced by an Officer<FONT STYLE="color: black">&rsquo;</FONT>s Certificate, fix in advance a record date for such series for the
determination of Securityholders entitled to give such request, demand, authorization, direction, notice, consent, waiver or other action,
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 action may be given before or after the record date, but only the Securityholders of record at the close of business
on the record date shall be deemed to be Securityholders for the purposes of determining whether Securityholders of the requisite proportion
of Outstanding Securities of that series have authorized or agreed or consented to such request, demand, authorization, direction, notice,
consent, waiver or other action, and for that purpose the Outstanding Securities of that series shall be computed as of the record date;
provided, however, that no such authorization, agreement or consent by such Securityholders on the 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="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 39; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 8.02<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Proof of Execution by Securityholders</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Subject to the provisions of Section 7.01, proof of
the execution of any instrument by a Securityholder (such proof will not require notarization) or his agent or proxy and proof of the
holding by any Person of any of the Securities shall be sufficient if made in the following manner:</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The fact and date of the execution by any such Person of any instrument may be proved in any reasonable manner acceptable to
the Trustee.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>The ownership of Securities shall be proved by the Security Register of such Securities or by a certificate of the Security
Registrar thereof.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Trustee may require such additional proof of any
matter referred to in this Section as it shall deem necessary.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 8.03<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Who May be Deemed Owners</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Prior to the due presentment for registration of transfer
of any Security, the Company, the Trustee, any paying agent and any Security Registrar may deem and treat the Person in whose name such
Security shall be registered upon the books of the Company as the absolute owner of such Security (whether or not such Security shall
be overdue and notwithstanding any notice of ownership or writing thereon made by anyone other than the Security Registrar) for the purpose
of receiving payment of or on account of the principal of, premium, if any, and (subject to Section 2.03) interest on such Security and
for all other purposes; and neither the Company nor the Trustee nor any paying agent nor any Security Registrar shall be affected by any
notice to the contrary.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 8.04<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Certain Securities Owned by Company Disregarded</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">In determining whether the holders of the requisite
aggregate principal amount of Securities of a particular series have concurred in any direction, consent or waiver under this Indenture,
the Securities of that series that are owned by the Company or any other obligor on the Securities of that series or by any Person directly
or indirectly controlling or controlled by or under common control with the Company or any other obligor on the Securities of that series
shall be disregarded and deemed not to be Outstanding for the purpose of any such determination, except that for the purpose of determining
whether the Trustee shall be protected in relying on any such direction, consent or waiver, only Securities of such series that the Trustee
actually knows are so owned shall be so disregarded. The Securities so owned that have been pledged in good faith may be regarded as Outstanding
for the purposes of this Section, if the pledgee shall establish to the satisfaction of the Trustee the pledgee<FONT STYLE="color: black">&rsquo;</FONT>s
right so to act with respect to such Securities and that the pledgee is not a Person directly or indirectly controlling or controlled
by or under direct or indirect common control with the Company or any such other obligor. In case of a dispute as to such right, any decision
by the Trustee taken upon the advice of counsel shall be full protection to the Trustee.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 40; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 8.05<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Actions Binding on Future Securityholders</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">At any time prior to (but not after) the evidencing
to the Trustee, as provided in Section 8.01, of the taking of any action by the holders of the majority or percentage in aggregate principal
amount of the Securities of a particular series specified in this Indenture in connection with such action, any holder of a Security of
that series that is shown by the evidence to be included in the Securities the holders of which have consented to such action may, by
filing written notice with the Trustee, and upon proof of holding as provided in Section 8.02, revoke such action so far as concerns such
Security. Except as aforesaid any such action taken by the holder of any Security shall be conclusive and binding upon such holder and
upon all future holders and owners of such Security, and of any Security issued in exchange therefor, on registration of transfer thereof
or in place thereof, irrespective of whether or not any notation in regard thereto is made upon such Security. Any action taken by the
holders of the majority or percentage in aggregate principal amount of the Securities of a particular series specified in this Indenture
in connection with such action shall be conclusively binding upon the Company, the Trustee and the holders of all the Securities of that
series.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">ARTICLE
9<BR>
<BR>
SUPPLEMENTAL INDENTURES</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 9.01<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Supplemental Indentures Without the Consent of Securityholders</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">In addition to any supplemental indenture otherwise
authorized by this Indenture, the Company and the Trustee may from time to time and at any time enter into an indenture or indentures
supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect), without the consent of the Securityholders,
for one or more of the following purposes:</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>to cure any ambiguity, defect, or inconsistency herein or in the Securities of any series;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>to comply with Article 10;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>to provide for uncertificated Securities in addition to or in place of certificated Securities;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(d)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>to add to the covenants, restrictions, conditions or provisions relating to the Company for the benefit of the holders of all
or any series of Securities (and if such covenants, restrictions, conditions or provisions are to be for the benefit of less than all
series of Securities, stating that such covenants, restrictions, conditions or provisions are expressly being included solely for the
benefit of such series), to make the occurrence, or the occurrence and the continuance, of a default in any such additional covenants,
restrictions, conditions or provisions an Event of Default, or to surrender any right or power herein conferred upon the Company;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(e)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>to add to, delete from, or revise the conditions, limitations, and restrictions on the authorized amount, terms, or purposes
of issue, authentication, and delivery of Securities, as herein set forth;</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 41; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(f)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>to make any change that does not adversely affect the rights of any Securityholder in any material respect;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(g)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>to provide for the issuance of and establish the form and terms and conditions of the Securities of any series as provided
in Section 2.01, to establish the form of any certifications required to be furnished pursuant to the terms of this Indenture or any series
of Securities, or to add to the rights of the holders of any series of Securities;</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(h)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>to evidence and provide for the acceptance of appointment hereunder by a successor trustee; or</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>to comply with any requirements of the Commission or any successor in connection with the qualification of this Indenture under
the Trust Indenture Act.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Trustee is hereby authorized to join with the Company
in the execution of any such supplemental indenture, and to make any further appropriate agreements and stipulations that may be therein
contained, but the Trustee shall not be obligated to enter into any such supplemental indenture that affects the Trustee<FONT STYLE="color: black">&rsquo;</FONT>s
own rights, duties or immunities under this Indenture or otherwise.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Any supplemental indenture authorized by the provisions
of this Section may be executed by the Company and the Trustee without the consent of the holders of any of the Securities at the time
Outstanding, notwithstanding any of the provisions of Section 9.02.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 9.02<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Supplemental Indentures With Consent of Securityholders</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">With the consent (evidenced as provided in Section
8.01) of the holders of not less than a majority in aggregate principal amount of the Securities of each series affected by such supplemental
indenture or indentures at the time Outstanding, the Company, when authorized by a Board Resolution, and the Trustee may from time to
time and at any time enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture
Act as then in effect) 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 not covered by Section 9.01 the rights of the holders of the
Securities of such series under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the
holders of each Security then Outstanding and affected thereby, (a) extend the fixed maturity of any Securities of any series, or reduce
the principal amount thereof, or reduce the rate or extend the time of payment of interest thereon, or reduce any premium payable upon
the redemption thereof or (b) reduce the aforesaid percentage of Securities, the holders of which are required to consent to any such
supplemental indenture.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">It shall not be necessary for the consent of the Securityholders
of any series affected thereby under this Section to approve the particular form of any proposed supplemental indenture, but it shall
be sufficient if such consent shall approve the substance thereof.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 42; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 9.03<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Effect of Supplemental Indentures</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Upon the execution of any supplemental indenture pursuant
to the provisions of this Article or of Section 10.01, this Indenture shall, with respect to such series, be and be deemed to be modified
and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture
of the Trustee, the Company and the holders of Securities of the series affected thereby shall thereafter be determined, exercised and
enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions of any such supplemental
indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 9.04<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Securities Affected by Supplemental Indentures</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Securities of any series affected by a supplemental
indenture, authenticated and delivered after the execution of such supplemental indenture pursuant to the provisions of this Article or
of Section 10.01, may bear a notation in form approved by the Company, provided such form meets the requirements of any securities exchange
upon which such series may be listed, as to any matter provided for in such supplemental indenture. If the Company shall so determine,
new Securities of that series so modified as to conform, in the opinion of the Board of Directors, to any modification of this Indenture
contained in any such supplemental indenture may be prepared by the Company, authenticated by the Trustee and delivered in exchange for
the Securities of that series then Outstanding.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 9.05<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Execution of Supplemental Indentures</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Upon the request of the Company, accompanied by its
Board Resolutions authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of the
consent of Securityholders required to consent thereto as aforesaid, the Trustee shall join with the Company in the execution of such
supplemental indenture unless such supplemental indenture affects the Trustee<FONT STYLE="color: black">&rsquo;</FONT>s own rights, duties
or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion but shall not be obligated to enter into
such supplemental indenture. The Trustee, subject to the provisions of Section 7.01, shall receive an Officer<FONT STYLE="color: black">&rsquo;</FONT>s
Certificate or an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant to this Article is authorized
or permitted by the terms of this Article and that all conditions precedent to the execution of the supplemental indenture have been complied
with; provided, however, that such Officer<FONT STYLE="color: black">&rsquo;</FONT>s Certificate or Opinion of Counsel need not be provided
in connection with the execution of a supplemental indenture that establishes the terms of a series of Securities pursuant to Section
2.01 hereof.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Promptly after the execution by the Company and the
Trustee of any supplemental indenture pursuant to the provisions of this Section, the Company shall (or shall direct the Trustee to) transmit
by mail, first class postage prepaid, a notice, setting forth in general terms the substance of such supplemental indenture, to the Securityholders
of all series affected thereby, as their names and addresses appear upon the Security Register. Any failure of the Company to mail, or
cause the mailing of, such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental
indenture.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 43; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">ARTICLE
10<BR>
<BR>
SUCCESSOR ENTITY</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 10.01<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;
</FONT><B><U>Company May Consolidate, Etc</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Nothing contained in this Indenture shall prevent any
consolidation or merger of the Company with or into any other Person (whether or not affiliated with the Company) or successive consolidations
or mergers in which the Company or its successor or successors shall be a party or parties, or shall prevent any sale, conveyance, transfer
or other disposition of the property of the Company or its successor or successors as an entirety, or substantially as an entirety, to
any other corporation (whether or not affiliated with the Company or its successor or successors) authorized to acquire and operate the
same; provided, however, (a) the Company hereby covenants and agrees that, upon any such consolidation or merger (in each case, if the
Company is not the survivor of such transaction), sale, conveyance, transfer or other disposition, the due and punctual payment of the
principal of (premium, if any) and interest on all of the Securities of all series in accordance with the terms of each series, according
to their tenor, and the due and punctual performance and observance of all the covenants and conditions of this Indenture with respect
to each series or established with respect to such series pursuant to Section 2.01 to be kept or performed by the Company shall be expressly
assumed, by supplemental indenture (which shall conform to the provisions of the Trust Indenture Act, as then in effect) reasonably satisfactory
in form to the Trustee executed and delivered to the Trustee by the entity formed by such consolidation, or into which the Company shall
have been merged, or by the entity which shall have acquired such property and (b) in the event that the Securities of any series then
Outstanding are convertible into or exchangeable for shares of common stock or other securities of the Company, such entity shall, by
such supplemental indenture, make provision so that the Securityholders of Securities of that series shall thereafter be entitled to receive
upon conversion or exchange of such Securities the number of securities or property to which a holder of the number of shares of common
stock or other securities of the Company deliverable upon conversion or exchange of those Securities would have been entitled had such
conversion or exchange occurred immediately prior to such consolidation, merger, sale, conveyance, transfer or other disposition.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 10.02<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;
</FONT><B><U>Successor Entity Substituted</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>In case of any such consolidation, merger, sale, conveyance, transfer or other disposition and upon the assumption by the successor
entity by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the obligations set
forth under Section 10.01 on all of the Securities of all series Outstanding, such successor entity shall succeed to and be substituted
for the Company with the same effect as if it had been named as the Company herein, and thereupon the predecessor corporation shall be
relieved of all obligations and covenants under this Indenture and the Securities.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>In case of any such consolidation, merger, sale, conveyance, transfer or other disposition, such changes in phraseology and
form (but not in substance) may be made in the Securities thereafter to be issued as may be appropriate.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(c)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>Nothing contained in this Article shall require any action by the Company in the case of a consolidation or merger of any Person
into the Company where the Company is the survivor of such transaction, or the acquisition by the Company, by purchase or otherwise, of
all or any part of the property of any other Person (whether or not affiliated with the Company).</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 44; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">ARTICLE
11<BR>
<BR>
SATISFACTION AND DISCHARGE</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 11.01<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;
</FONT><B><U>Satisfaction and Discharge of Indenture</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">If at any time: (a) the Company shall have delivered
to the Trustee for cancellation all Securities of a series theretofore authenticated and not delivered to the Trustee for cancellation
(other than any Securities that shall have been destroyed, lost or stolen and that shall have been replaced or paid as provided in Section
2.07 and Securities for whose payment money or Governmental Obligations have theretofore been deposited in trust or segregated and held
in trust by the Company and thereupon repaid to the Company or discharged from such trust, as provided in Section 11.05); or (b) all such
Securities of a particular series not theretofore delivered to the Trustee for cancellation shall have become due and payable, or are
by their terms to become due and payable within one year or are to be called for redemption within one year under arrangements satisfactory
to the Trustee for the giving of notice of redemption, and the Company shall deposit or cause to be deposited with the Trustee as trust
funds the entire amount in moneys or Governmental Obligations or a combination thereof, sufficient in the opinion of a nationally recognized
firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay at maturity or upon
redemption all Securities of that series not theretofore delivered to the Trustee for cancellation, including principal (and premium,
if any) and interest due or to become due to such date of maturity or date fixed for redemption, as the case may be, and if the Company
shall also pay or cause to be paid all other sums payable hereunder with respect to such series by the Company then this Indenture shall
thereupon cease to be of further effect with respect to such series except for the provisions of Sections 2.03, 2.05, 2.07, 4.01, 4.02,
4.03 and 7.10, that shall survive until the date of maturity or redemption date, as the case may be, and Sections 7.06 and 11.05, that
shall survive to such date and thereafter, and the Trustee, on demand of the Company and at the cost and expense of the Company shall
execute proper instruments acknowledging satisfaction of and discharging this Indenture with respect to such series.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 11.02<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;
</FONT><B><U>Discharge of Obligations</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">If at any time all such Securities of a particular
series not heretofore delivered to the Trustee for cancellation or that have not become due and payable as described in Section 11.01
shall have been paid by the Company by depositing irrevocably with the Trustee as trust funds moneys or an amount of Governmental Obligations
sufficient to pay at maturity or upon redemption all such Securities of that series not theretofore delivered to the Trustee for cancellation,
including principal (and premium, if any) and interest due or to become due to such date of maturity or date fixed for redemption, as
the case may be, and if the Company shall also pay or cause to be paid all other sums payable hereunder by the Company with respect to
such series, then after the date such moneys or Governmental Obligations, as the case may be, are deposited with the Trustee the obligations
of the Company under this Indenture with respect to such series shall cease to be of further effect except for the provisions of Sections
2.03, 2.05, 2.07, 4,01, 4.02, 4,03, 7.06, 7.10 and 11.05 hereof that shall survive until such Securities shall mature and be paid.</P>

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Thereafter, Sections 7.06 and 11.05 shall survive.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 45; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 11.03<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;
</FONT><B><U>Deposited Moneys to be Held in Trust</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">All moneys or Governmental Obligations deposited with
the Trustee pursuant to Sections 11.01 or 11.02 shall be held in trust and shall be available for payment as due, either directly or through
any paying agent (including the Company acting as its own paying agent), to the holders of the particular series of Securities for the
payment or redemption of which such moneys or Governmental Obligations have been deposited with the Trustee.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 11.04<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;
</FONT><B><U>Payment of Moneys Held by Paying Agents</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">In connection with the satisfaction and discharge of
this Indenture all moneys or Governmental Obligations then held by any paying agent under the provisions of this Indenture shall, upon
demand of the Company, be paid to the Trustee and thereupon such paying agent shall be released from all further liability with respect
to such moneys or Governmental Obligations.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 11.05<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;
</FONT><B><U>Repayment to Company</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Any moneys or Governmental Obligations deposited with
any paying agent or the Trustee, or then held by the Company, in trust for payment of principal of or premium, if any, or interest on
the Securities of a particular series that are not applied but remain unclaimed by the holders of such Securities for at least two years
after the date upon which the principal of (and premium, if any) or interest on such Securities shall have respectively become due and
payable, or such other shorter period set forth in applicable escheat or abandoned or unclaimed property law, shall be repaid to the Company
on May 31 of each year or upon the Company<FONT STYLE="color: black">&rsquo;</FONT>s request or (if then held by the Company) shall be
discharged from such trust; and thereupon the paying agent and the Trustee shall be released from all further liability with respect to
such moneys or Governmental Obligations, and the holder of any of the Securities entitled to receive such payment shall thereafter, as
a general creditor, look only to the Company for the payment thereof.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">ARTICLE
12<BR>
<BR>
IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 12.01<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;
</FONT><B><U>No Recourse</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">No recourse under or upon any obligation, covenant
or agreement of this Indenture, or of any Security, or for any claim based thereon or otherwise in respect thereof, shall be had against
any incorporator, stockholder, officer or director, past, present or future as such, of the Company or of any predecessor or successor
corporation, either directly or through the Company or any such predecessor or successor corporation, whether by virtue of any constitution,
statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that this Indenture
and the obligations issued hereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or
is or shall be incurred by, the incorporators, stockholders, officers or directors as such, of the Company or of any predecessor or successor
corporation, or any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations,
covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom; and that any and all such personal
liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and
claims against, every such incorporator, stockholder, officer or director as such, because of the creation of the indebtedness hereby
authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities
or implied therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture
and the issuance of such Securities.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 46; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">ARTICLE
13<BR>
<BR>
MISCELLANEOUS PROVISIONS</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 13.01<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;
</FONT><B><U>Effect on Successors and Assigns</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">All the covenants, stipulations, promises and agreements
in this Indenture made by or on behalf of the Company shall bind its successors and assigns, whether so expressed or not.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 13.02<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;
</FONT><B><U>Actions by Successor</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Any act or proceeding by any provision of this Indenture
authorized or required to be done or performed by any board, committee or officer of the Company shall and may be done and performed with
like force and effect by the corresponding board, committee or officer of any corporation that shall at the time be the lawful successor
of the Company.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 13.03<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;
</FONT><B><U>Surrender of Company Powers</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Company by instrument in writing executed by authority
of its Board of Directors and delivered to the Trustee may surrender any of the powers reserved to the Company, and thereupon such power
so surrendered shall terminate both as to the Company and as to any successor corporation.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 13.04<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;
</FONT><B><U>Notices</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Except as otherwise expressly provided herein, any
notice, request or demand that by any provision of this Indenture is required or permitted to be given, made or served by the Trustee
or by the holders of Securities or by any other Person pursuant to this Indenture to or on the Company may be given or served by being
deposited in first class mail, postage prepaid, addressed (until another address is filed in writing by the Company with the Trustee),
as follows: FreightCar America, Inc., 125 South Wacker Drive, Suite 1500, Chicago, IL 60606: Chief Financial Officer. Any notice, election,
request or demand by the Company or any Securityholder or by any other Person pursuant to this Indenture to or upon the Trustee shall
be deemed to have been sufficiently given or made, for all purposes, if given or made in writing at the Corporate Trust Office of the
Trustee.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 47; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->43<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 13.05<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;
</FONT><B><U>Governing Law</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">This Indenture and each Security shall be deemed to
be a contract made under the internal laws of the State of New York, and for all purposes shall be construed in accordance with the laws
of said State, except to the extent that the Trust Indenture Act is applicable.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 13.06<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;
</FONT><B><U>Treatment of Securities as Debt</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">It is intended that the Securities will be treated
as indebtedness and not as equity for federal income tax purposes. The provisions of this Indenture shall be interpreted to further this
intention.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 13.07<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;
</FONT><B><U>Certificates and Opinions as to Conditions Precedent</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(a)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>Upon any application or demand by the Company to the Trustee to take any action under any of the provisions of this Indenture,
the Company shall furnish to the Trustee an Officer&rsquo;s Certificate stating that all conditions precedent provided for in this Indenture
(other than the certificate to be delivered pursuant to Section 13.12) relating to the proposed action have been complied with and, if
requested, an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent have been complied with, except
that in the case of any such application or demand as to which the furnishing of such documents is specifically required by any provision
of this Indenture relating to such particular application or demand, no additional certificate or opinion need be furnished.</P>

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

<P STYLE="font-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>(b)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B>Each certificate or opinion provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition
or covenant in this Indenture shall include: (i) a statement that the Person making such certificate or opinion has read such covenant
or condition; (ii) 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; (iii) a statement that, in the opinion of such Person, he has made such examination
or investigation as is reasonably necessary to enable him to express an informed opinion as to whether or not such covenant or condition
has been complied with; and (iv) 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-size: 10pt; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 13.08<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;
</FONT><B><U>Payments on Business Days</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">Except as provided pursuant to Section 2.01 pursuant
to a Board Resolution, and set forth in an Officer<FONT STYLE="color: black">&rsquo;</FONT>s Certificate, or established in one or more
indentures supplemental to this Indenture, in any case where the date of maturity of interest or principal of any Security or the date
of redemption of any Security shall not be a Business Day, then payment of interest or principal (and premium, if any) may be made on
the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest
shall accrue for the period after such nominal date.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 13.09<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;
</FONT><B><U>Conflict with Trust Indenture Act</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">If and to the extent that any provision of this Indenture
limits, qualifies or conflicts with the duties imposed by Sections 310 to 317, inclusive, of the Trust Indenture Act, such imposed duties
shall control.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 48; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->44<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 13.10<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;
</FONT><B><U>Counterparts</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">This Indenture may be executed in any number of counterparts,
each of which shall be an original, but such counterparts shall together constitute but one and the same instrument.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 13.11<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;
</FONT><B><U>Separability</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">In case any one or more of the provisions contained
in this Indenture or in the Securities of any series shall for any reason be held to be invalid, illegal or unenforceable in any respect,
such invalidity, illegality or unenforceability shall not affect any other provisions of this Indenture or of such Securities, but this
Indenture and such Securities shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein
or therein.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 13.12<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;
</FONT><B><U>Compliance Certificates</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The Company shall deliver to the Trustee, within 120
days after the end of each fiscal year during which any Securities of any series were outstanding, an officer<FONT STYLE="color: black">&rsquo;</FONT>s
certificate stating whether or not the signers know of any Event of Default that occurred during such fiscal year. Such certificate shall
contain a certification from the principal executive officer, principal financial officer or principal accounting officer of the Company
that a review has been conducted of the activities of the Company and the Company<FONT STYLE="color: black">&rsquo;</FONT>s performance
under this Indenture and that the Company has complied with all conditions and covenants under this Indenture. For purposes of this Section
13.12, such compliance shall be determined without regard to any period of grace or requirement of notice provided under this Indenture.
If the officer of the Company signing such certificate has knowledge of such an Event of Default, the certificate shall describe any such
Event of Default and its status.</P>

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

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">ARTICLE
14<BR>
<BR>
SUBORDINATION OF SECURITIES</P>

<P STYLE="font-size: 10pt; font-weight: bold; text-transform: uppercase; text-align: center; text-indent: 0in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">Section 14.01<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;
</FONT><B><U>Subordination Terms</U></B><U>.</U></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">The payment by the Company of the principal of, premium,
if any, and interest on any series of Securities issued hereunder shall be subordinated to the extent set forth in an indenture supplemental
hereto relating to such series.</P>

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

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 49; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->45<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black"><B>IN WITNESS WHEREOF</B></FONT>,
the parties hereto have caused this Indenture to be duly executed all as of the day and year first above written.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="text-transform: uppercase"><B>FREIGHTCAR AMERICA, INC.</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">By:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Name:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Title:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><B>[TRUSTEE]</B>, as Trustee</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">By:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Name:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Title:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<!-- Field: Page; Sequence: 50; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->46<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>CROSS-REFERENCE TABLE (1)</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 85%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><B>Section of Trust Indenture Act of 1939, as Amended</B></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><B>Section of Indenture</B></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">310(a)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">7.09</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">310(b)</TD>
    <TD STYLE="vertical-align: bottom">
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">7.08</P>
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">7.10</P>
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">310(c)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">Inapplicable</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">311(a)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">7.13</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">311(b)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">7.13</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">311(c)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">Inapplicable</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">312(a)</TD>
    <TD STYLE="vertical-align: bottom">
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">5.01</P>
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">5.02(a)</P>
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">312(b)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">5.02(c)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">312(c)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">5.02(c)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">313(a)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">5.04(a)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">313(b)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">5.04(b)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">313(c)</TD>
    <TD STYLE="vertical-align: bottom">
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">5.04(a)</P>
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">5.04(b)</P>
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">313(d)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">5.04(c)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">314(a)</TD>
    <TD STYLE="vertical-align: bottom">
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">5.03</P>
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">13.12</P>
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">314(b)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">Inapplicable</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">314(c)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">13.07(a)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">314(d)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">Inapplicable</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">314(e)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">13.07(b)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">314(f)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">Inapplicable</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">315(a)</TD>
    <TD STYLE="vertical-align: bottom">
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">7.01(a)</P>
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">7.01(b)</P>
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">315(b)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">7.14</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">315(c)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">7.01</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">315(d)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">7.01(b)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">315(e)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">6.07</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">316(a)</TD>
    <TD STYLE="vertical-align: bottom">
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">6.06</P>
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">8.04</P>
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">316(b)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">6.04</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">316(c)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">8.01</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">317(a)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">6.02</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">317(b)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">4.03</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">318(a)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">13.09</TD></TR>
  </TABLE>
<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; font-size: 10pt">(1)</TD>
    <TD STYLE="width: 98%; border-top: black 1pt solid; font-size: 10pt">This Cross-Reference Table does not constitute part of this Indenture and shall not have any bearing on the interpretation of any of its terms or provisions.</TD></TR>
  </TABLE>
<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

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



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

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>4
<FILENAME>exh_51.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 5.1</B></P>

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

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><IMG SRC="winstonheader.jpg" ALT=""></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-align: center; text-indent: 0.5in">August 27, 2021</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">FreightCar America, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">125 S. Wacker Dr.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Suite 1500</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Chicago, Illinois 60606</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: 6.3pt"></TD><TD STYLE="width: 28.35pt">Re:</TD><TD><U>FreightCar America, Inc. Registration Statement on Form S-3 for Sale of Securities by the Company with an aggregate public offering
price of up to US $100,000,000</U></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">Ladies and Gentlemen:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have acted as special counsel
to FreightCar America, Inc., a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;), in connection with the registration statement
on Form S-3 (the &ldquo;<B>Registration Statement</B>&rdquo;) under the Securities Act of 1933, as amended (the &ldquo;<B>Act</B>&rdquo;),
filed by the Company with the Securities and Exchange Commission (the &ldquo;<B>Commission</B>&rdquo;), relating to the proposed offer,
issuance and sale from time to time on a delayed or continuous basis pursuant to Rule 415 under the Act, as set forth in the Registration
Statement, the prospectus contained therein and any supplement to the prospectus, of the following securities of the Company, as applicable:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 48px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(i)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">shares of common stock of the Company, par value $0.01 per share (the &ldquo;<B>Common Stock</B>&rdquo;);</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 48px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(ii)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">shares of preferred stock of the Company, par value $0.01 per share (the &ldquo;<B>Preferred Stock</B>&rdquo;);</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 48px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(iii)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">debt securities, in one or more series (the &ldquo;<B>Debt Securities</B>&rdquo;), which will be issued under a form of Indenture filed as an exhibit to the Registration Statement (as amended or supplemented, the &ldquo;<B>Indenture</B>&rdquo;) to be entered into by and among the Company and a trustee (the &ldquo;<B>Trustee</B>&rdquo;);</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 48px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(iv)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">warrants to purchase the Common Stock, the Preferred Stock and the Debt Securities (the &ldquo;<B>Warrants</B>&rdquo;);</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 48px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(v)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">rights to purchase the Common Stock, the Preferred Stock, the Debt Securities or other securities (the &ldquo;<B>Rights</B>&rdquo;); and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 48px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(vi)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">units in one more series, consisting of Common Stock, Preferred Stock, Debt Securities, Warrants and/or Rights, in any combination (the &ldquo;<B>Units</B>&rdquo; and together with the Common Stock, the Preferred Stock, the Debt Securities, the Warrants and the Rights, the &ldquo;<B>Securities</B>&rdquo;).</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The aggregate initial offering
price of the Securities sold under this prospectus will not exceed $100,000,000 (the &ldquo;<B>Offering</B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">It is understood that the
opinions set forth below are to be used only in connection with the offer, issuance and sale of the Securities while the Registration
Statement is in effect. The Registration Statement further provides that the Securities may be offered in amounts, at prices and on terms
to be set forth in one or more prospectus supplements.</P>

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

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid">&nbsp;</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-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="winstonheader.jpg" ALT=""></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This opinion letter is being
delivered in accordance with the requirements of Item 601(b)(5) of Regulation S-K promulgated under the Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In rendering the opinions
set forth below, we have examined and are familiar with originals or copies, certified or otherwise identified to our satisfaction, of
(i) the certificate of incorporation of the Company, as amended and in effect on the date hereof (&ldquo;<B>Certificate of Incorporation</B>&rdquo;),
(ii) the bylaws of the Company, as in effect on the date hereof (the &ldquo;<B>Bylaws</B>&rdquo; and together with the Certificate of
Incorporation, the &ldquo;<B>Organizational Documents</B>&rdquo;), (iii) the Registration Statement and (iv) resolutions of the Board
of Directors of the Company (the &ldquo;<B>Board</B>&rdquo;) relating to, among other matters, the filing of the Registration Statement.
We are familiar with the various corporate proceedings heretofore taken and additional proceedings proposed to be taken by the Company
in connection with the authorization, registration, issuance and sale of the Securities. We have also examined originals, or copies certified
to our satisfaction, of such corporate records of the Company and other instruments, certificates of public officials and representatives
of the Company and other documents as we have deemed necessary as a basis for the opinions hereinafter expressed. In such examination,
we have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals and the conformity with
the originals of all documents submitted to us as copies. We also have assumed that the Company will remain validly existing and in good
standing under the laws of the state of Delaware. As to certain facts material to this opinion letter, we have relied without independent
verification upon oral and written statements and representations of officers and other representatives of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On the basis of the foregoing,
and subject to (i) the Registration Statement and any amendments thereto being effective under the Act, (ii) the applicable Indenture
under which Debt Securities are issued having been validly executed and delivered by the Company and the other parties thereto, (iii)
the applicable Trustee being qualified under the Trust Indenture Act of 1939, as amended, (iv) a prospectus supplement having been filed
with the Commission describing the Securities being offered thereby and (v) all Securities being issued and sold in the manner stated
in the Registration Statement and the applicable prospectus supplement and in accordance with a duly executed and delivered purchase,
underwriting or similar agreement with respect to the Securities, we are of the opinion that:</P>

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

<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">With respect to the Common Stock, when (i) the Board has taken all corporate action necessary to approve
the final terms of the issuance and sale of the Common Stock and (ii) the Company has received the consideration therefor (and such consideration
per share is not less than the par value per share of the Common Stock), the Common Stock will be validly issued, fully paid and non-assessable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&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">With respect to any series of Preferred Stock, when (i) the Board has taken all corporate action necessary
to approve the final terms of the issuance and sale of such Preferred Stock, (ii) the terms of the series of the Preferred Stock have
been duly established in conformity with the Organizational Documents and (iii) the Company has received the consideration therefor, the
Preferred Stock will be validly issued, fully paid and non-assessable.</TD></TR></TABLE>

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

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD></TR></TABLE></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-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="winstonheader.jpg" ALT=""></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></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">With respect to the Debt Securities, when (i) the Board has taken all necessary corporate action to approve
the final terms of the issuance and sale of the Debt Securities, (ii) the applicable Indenture has been duly authorized, executed and
delivered, (iii) the terms of the Debt Securities have been duly established in conformity with the applicable Indenture and do not violate
any applicable law or result in a default under, or breach of, an agreement or instrument binding upon the Company and comply with any
requirement or restriction imposed by any court or governmental body having jurisdiction over the Company, (iv) such Debt Securities have
been duly executed and delivered by the Company and the Debt Securities have been authenticated by the applicable Trustee in accordance
with the applicable Indenture and (v) the Company has received the consideration therefor, such Debt Securities will constitute valid
and legally binding obligations of the Company enforceable in accordance with their terms, subject to bankruptcy, insolvency, fraudulent
transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors&rsquo; rights and to
general equity principles.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&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">With respect to the Warrants, when (i) the Board has taken all necessary corporate action to approve the
final terms of the issuance and sale of the Warrants, (ii) the applicable warrant agreement relating to the Warrants has been duly authorized,
executed and delivered, (iii) the Warrants are executed, countersigned and delivered in accordance with the applicable warrant agreement
against payment therefor and (iv) the Company has received the consideration therefor, the Warrants will constitute valid and legally
binding obligations of the Company enforceable in accordance with their terms, subject to bankruptcy, insolvency, fraudulent transfer,
reorganization, moratorium and similar laws of general applicability relating to or affecting creditors&rsquo; rights and to general equity
principles.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&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">With respect to the Rights, when (i) the Board has taken all necessary corporate action to approve the
final terms of the issuance and sale of the Rights, (ii) the rights agreement relating to the Rights has been duly authorized, executed
and delivered, (iii) the certificates representing the Rights have been executed, countersigned and delivered in accordance with the applicable
rights agreement against payment therefor and (iv) the Company has received the consideration therefor, the Rights will constitute valid
and legally binding obligations of the Company enforceable in accordance with their terms, subject to bankruptcy, insolvency, fraudulent
transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors&rsquo; rights and to
general equity principles.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&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">6.</TD><TD STYLE="text-align: justify">With respect to the Units, when (i) the Board has taken all necessary corporate action to approve the
final terms of the issuance and sale of the Units, (ii) the purchase agreement relating to the Units has been duly authorized, executed
and delivered, (iii) the Units have been executed, countersigned and delivered in accordance with the applicable purchase agreement against
payment therefor and (iv) the Company has received the consideration therefor, the Units will constitute valid and legally binding obligations
of the Company enforceable in accordance with their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium
and similar laws of general applicability relating to or affecting creditors&rsquo; rights and to general equity principles.</TD></TR></TABLE>

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

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD></TR></TABLE></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-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="winstonheader.jpg" ALT=""></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The opinions expressed herein
are based upon and limited to the laws of the State of New York and the General Corporation Law of the State of Delaware (including the
statutory provisions, all applicable provisions of the Delaware Constitution and reported judicial decisions interpreting the foregoing).
We express no opinion herein as to any other laws, statutes, regulations or ordinances. The opinions expressed herein that are based on
the laws of the State of New York are limited to the laws generally applicable in transactions of the type covered by the Registration
Statement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We hereby consent to the filing
of this opinion letter as Exhibit 5.1 to the Registration Statement and to the reference to our firm under the caption &ldquo;Legal Matters&rdquo;
in the prospectus included in the Registration Statement. In giving such consent, we do not thereby admit that we are experts within the
meaning of the Act or that our firm is within the category of persons whose consent is required under Section 7 of the Act or the rules
and regulations of the Commission.</P>

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

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

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 60%">&nbsp;</TD>
  <TD STYLE="width: 40%">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>/s/ Winston &amp;
Strawn LLP</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-indent: 229.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-indent: 229.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-indent: 229.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 280pt; text-indent: 229.95pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 280pt; text-indent: 229.95pt"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-indent: 229.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-indent: 229.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-indent: 229.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-indent: 229.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-indent: 229.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-indent: 229.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-indent: 229.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-indent: 229.95pt">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-indent: 229.95pt"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt; text-indent: 229.95pt">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>5
<FILENAME>exh_231.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We&nbsp;consent&nbsp;to the incorporation by reference in this Registration
Statement on Form S-3 of our report dated March 24, 2021 relating to the financial statements of FreightCar America, Inc. and subsidiaries
(the &ldquo;Company&rdquo;) (which report expresses an unqualified opinion and includes an explanatory paragraph related to the Company&rsquo;s
change in method of accounting for leases in the year ended December 31, 2019, due to the adoption of Accounting Standard Update No. 2016-02),
appearing in the Annual Report on Form 10-K of the Company for the year ended December 31, 2020. We also&nbsp;consent&nbsp;to the reference
to us under the heading &quot;Experts&quot; in such Registration Statement.</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">August 27, 2021</P>

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

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

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

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

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

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

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

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

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>logo.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 logo.jpg
M_]C_X  02D9)1@ ! 0   0 !  #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1"  Z ,X# 2(  A$! Q$!_\0
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M.N>Y*=:=("[+JYISU5JL]%.ISR:FVPII4.;*<:;:?[E-<KYX(]I7)9D$'2Y
M(GRM!V,7ML=]NQF,*,X"0"UC&_(M)V].8.]AP^UZG[OS_P"6J]X^Q_+^ND3W
MSO\ MMF-MS6)MHMWW>]$SGG&W7KJQW:S%,=D19]%:3W"2_4&_P"P#G'CU$>
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#'__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>winstonheader.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 winstonheader.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_X1#T17AI9@  34T *@    @ ! $[  (
M   .   (2H=I  0    !   (6)R=  $    <   0T.H<  <   @,    /@
M   <Z@    @
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M                                                 %-A=F]I92P@
M2V5V:6X   60 P "    %   $*:0!  "    %   $+J2D0 "     S W  "2
MD@ "     S W  #J'  '   (#   ")H     '.H    (
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
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MUM?8V=KAXN/DY>;GZ.GJ\?+S]/7V]_CY^O_$ !\!  ,! 0$! 0$! 0$
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M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
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MM-!YC7\<>^5& ,;NC.H*<XX7USSTQS0!UU%%% !1110 4444 %%%% !1110
M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1
M110 4444 9UAI?V2ZU265UD2_N1-LV_='E)'@^OW,_C5&7PG91:9]CTJ**S5
MK^*\<K&!N*3"4CC'H0/2J'A#4M2U*_U*2^?4)(XKNYACWQPK;[4F95"%?G+
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M9V,]LJ*FWYYC\S#DX 7*J.P)K/LO%\R?#6+49]0ANKZ6>2T6[\O;'Y@E90Y
M'"A1N_#'4U5A\0:G<:1X:U&TU>>YFNK%KR[@6*+RY$BBRY^YN!:0HO!XR<4
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M/J,AO;<))IEJ$8RKA\2S]#GFL'P)I%W=W>F:FEA!8VUC)?*]TL@,EZ'F<!2
M.%!^;YCG(&!0!Z51110!5N],M+ZYMY[J%9)+;?Y1;H-Z[6XZ'(..:RX/!>@V
ML=K';V/EQ6D20Q1+*^S:F=F5SABNXX)R1GBMZB@#)_X1C2?.MI!;$-:Q10Q8
MD; 2)@\8(S@[6&03ZGUI\OAW2Y[."TGM$EMX+@W*1/EE\PEB20>O+L<'C\A6
MG10!C6WA+1+.5I+6Q6(M*LN$8A0RNTBX&< !G8X''-+'X6TF&0-#!)%\A1E2
M=U60?-]X X;&YL9SC-;%% &/-X5TB=0&MV1E2)$DCF='01!@FU@000'89'4$
MYI]KX;TRRU$7UO"ZSJ79<S.54N &(4G&3@9..:U:*  \UA1>#=(AL8[1%NO(
MB=9(5:\E/DE00-AW9488C QD&MVB@#%C\):-#IHL8+5HH5='3RYG5D9$"*RL
M#D$*H&0?YFJMMX)TRWUI[TQ[HE2!+>VW,$C\H, 2,X<_,2"1D&NDHH I:9I%
MII$)AL1*L9P CS.X0#@*NXG:!Z#BGZCIMIJUF;3481/ 71S&W1BK!AD=QD#C
MH:M44 8O_"(Z*&?RK3R4DF$[PPR-'&[@+R44A3]Q3C'49I8/">CVUS!/!;,C
M6Y0QJ)GVY1=BL5S@D*<9/.*V:* "BBB@ HHHH **** "BBB@ HHHH **** "
MBBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **
M** (;:T@LXFCM8EB1I&D*J, LS%F/U))/XTMS:P7D!ANHEEC+!BK#()!!!_
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M %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
B4444 %%%% !1110 4444 %%%% !1110 4444 %%%% '_V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
