Common use of Notation on Debt Securities Clause in Contracts

Notation on Debt Securities. Debt Securities authenticated and delivered on or after the date hereof shall bear the following notation, which may be printed or typewritten thereon: “Effective April 1, 2016, National Penn Bancshares, Inc., a bank holding company incorporated in the Commonwealth of Pennsylvania (“National Penn”), was merged with and into BB&T Corporation, a North Carolina corporation (“BB&T”), with BB&T as the surviving corporation. Pursuant to the First Supplemental Indenture dated as of April 1, 2016, BB&T assumed the obligations of National Penn and the performance of every covenant and condition of the Indenture on the part of National Penn to be performed or observed.” If BB&T shall so determine, new Debt Securities so modified as to conform to the Indenture as hereby supplemented, in form satisfactory to the Trustee, may at any time hereafter be prepared and executed by BB&T and authenticated and delivered by the Trustee or the Authenticating Agent in exchange for the Debt Securities then outstanding, and thereafter the notation herein provided shall no longer be required. Anything herein or in the Indenture to the contrary notwithstanding, the failure to affix the notation herein provided as to any Debt Security or to exchange any Debt Security for a new Debt Security modified as herein provided shall not affect any of the rights of the holder of such Debt Security.