QUESTAR GAS COMPANY $50,000,000 3.62% Senior Notes, Series A, due December 1, 2046 $50,000,000 3.67% Senior Notes, Series B, due December 1, 2051 NOTE PURCHASE AGREEMENT Dated December 15, 2016

Exhibit 1.1

CONFORMED COPY

QUESTAR GAS COMPANY

$50,000,000 3.62% Senior Notes, Series A, due December 1, 2046

$50,000,000 3.67% Senior Notes, Series B, due December 1, 2051

NOTE PURCHASE AGREEMENT

Dated December 15, 2016

TABLE OF CONTENTS


SECTION	HEADING	PAGE

SECTION 1.	AUTHORIZATION OF NOTES		1

SECTION 2.	SALE AND PURCHASE OF NOTES		1

SECTION 3.	CLOSING		2

SECTION 4.	CONDITIONS TO CLOSING		2

Section 4.1.	Representations and Warranties		2
Section 4.2.	Performance; No Default		2
Section 4.3.	Compliance Certificates		3
Section 4.4.	Opinions of Counsel		3
Section 4.5.	Purchase Permitted By Applicable Law, Etc		3
Section 4.6.	Sale of Other Notes		3
Section 4.7.	Payment of Special Counsel Fees		3
Section 4.8.	Private Placement Number		4
Section 4.9.	Changes in Corporate Structure		4
Section 4.10.	Funding Instructions		4
Section 4.11.	Proceedings and Documents		4

SECTION 5.	REPRESENTATIONS AND WARRANTIES OF THE COMPANY		4

Section 5.1.	Organization; Power and Authority		4
Section 5.2.	Authorization, Etc		4
Section 5.3.	Disclosure		5
Section 5.4.	Organization and Ownership of Shares of Subsidiaries		5
Section 5.5.	Financial Statements; Material Liabilities		5
Section 5.6.	Compliance with Laws, Other Instruments, Etc		5
Section 5.7.	Governmental Authorizations, Etc		6
Section 5.8.	Litigation; Observance of Statutes and Orders		6
Section 5.9.	Taxes		6
Section 5.10.	Title to Property; Leases		7
Section 5.11.	Licenses, Permits, Etc		7
Section 5.12.	Compliance with ERISA		7
Section 5.13.	Private Offering by the Company		8
Section 5.14.	Use of Proceeds; Margin Regulations		8
Section 5.15.	Existing Indebtedness		9
Section 5.16.	Foreign Assets Control Regulations, Etc		9
Section 5.17.	Status under Certain Statutes		10
Section 5.18.	No Brokers		10

-i-


SECTION 6.	REPRESENTATIONS OF THE PURCHASERS	10

Section 6.1.	Purchase for Investment	10
Section 6.2.	Source of Funds	11

SECTION 7.	INFORMATION AS TO COMPANY	12

Section 7.1.	Financial and Business Information	12
Section 7.2.	Officer’s Certificate	15
Section 7.3.	Visitation	16

SECTION 8.	PAYMENT AND PREPAYMENT OF THE NOTES	17

Section 8.1.	Maturity	17
Section 8.2.	Optional Prepayments	17
Section 8.3.	Allocation of Partial Prepayments	18
Section 8.4.	Maturity; Surrender, Etc	18
Section 8.5.	Purchase of Notes	18
Section 8.6.	Make-Whole Amount for the Notes	19
Section 8.7.	Payments Due on Non-Business Days	20

SECTION 9.	AFFIRMATIVE COVENANTS	20

Section 9.1.	Compliance with Laws	20
Section 9.2.	Insurance	21
Section 9.3.	Maintenance of Properties	21
Section 9.4.	Payment of Taxes	21
Section 9.5.	Corporate Existence, Etc	21
Section 9.6.	Books and Records	22
Section 9.7.	Priority of Obligations	22
Section 9.8.	Subsidiary Guarantors	22
Section 9.9.	Designation of Subsidiaries	23

SECTION 10.	NEGATIVE COVENANTS	23

Section 10.1.	Transactions with Affiliates	23
Section 10.2.	Merger, Consolidation, Etc	24
Section 10.3.	Line of Business	25
Section 10.4.	Economic Sanctions Etc	25
Section 10.5.	Liens	25
Section 10.6.	Debt to Capitalization Ratio	28
Section 10.7.	Priority Debt	28
Section 10.8.	Restricted Subsidiaries	28

SECTION 11.	EVENTS OF DEFAULT	28

SECTION 12.	REMEDIES ON DEFAULT, ETC.	30

Section 12.1.	Acceleration	30

-ii-


Section 12.2	Other Remedies	31
Section 12.3	Rescission	31
Section 12.4	No Waivers or Election of Remedies, Expenses, Etc.	32

SECTION 13.	REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES	32

Section 13.1.	Registration of Notes	32
Section 13.2.	Transfer and Exchange of Notes	32
Section 13.3.	Replacement of Notes	33

SECTION 14.	PAYMENTS ON NOTES	33

Section 14.1.	Place of Payment	33
Section 14.2.	Home Office Payment	33

SECTION 15.	EXPENSES, ETC	34

Section 15.1.	Transaction Expenses	34
Section 15.2.	Survival	35

SECTION 16.	SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT	35

SECTION 17.	AMENDMENT AND WAIVER	35

Section 17.1.	Requirements	35
Section 17.2.	Solicitation of Holders of Notes	35
Section 17.3.	Binding Effect, Etc	36
Section 17.4.	Notes Held by Company, Etc	36

SECTION 18.	NOTICES	37

SECTION 19.	REPRODUCTION OF DOCUMENTS	37

SECTION 20.	CONFIDENTIAL INFORMATION	38

SECTION 21.	SUBSTITUTION OF PURCHASER	39

SECTION 22.	MISCELLANEOUS	39

Section 22.1.	Successors and Assigns	39
Section 22.2.	Payments Due on Non-Business Days	39
Section 22.3.	Accounting Terms	40
Section 22.4.	Severability	40
Section 22.5.	Construction, Etc	40
Section 22.6.	Counterparts	41
Section 22.7.	Governing Law	41
Section 22.8.	Jurisdiction and Process; Waiver of Jury Trial	41

-iii-


SCHEDULE A	—	Information Relating to Purchasers

SCHEDULE B	—	Defined Terms

SCHEDULE 5.3	—	Disclosure Materials

SCHEDULE 5.5	—	Financial Statements

SCHEDULE 5.8	—	Litigation

SCHEDULE 5.15	—	Existing Indebtedness

EXHIBIT 1(a)	—	Form of 3.62% Senior Note, Series A, due December 1, 2046

EXHIBIT 1(b)	—	Form of 3.67% Senior Note, Series B, due December 1, 2051

EXHIBIT 4.4(a)	—	Form of Opinion of Special Counsel for the Company

EXHIBIT 4.4(b)	—	Form of Opinion of Senior Counsel for the Parent

EXHIBIT 4.4(c)	—	Form of Opinion of Special Counsel for the Purchasers

EXHIBIT 5.13	—	Form of Offeree Letter

-iv-

QUESTAR GAS COMPANY

000 Xxxxx Xxxxx Xxxxxx

Xxxx Xxxx Xxxx, Xxxx 00000

$50,000,000 3.62% Senior Notes, Series A, due December 1, 2046

$50,000,000 3.67% Senior Notes, Series B, due December 1, 2051

December 15, 2016

TO EACH OF THE PURCHASERS LISTED IN

SCHEDULE A HERETO:

Ladies and Gentlemen:

Questar Gas Company, a Utah corporation (the “Company”), agrees with each of the purchasers whose names appear at the end hereof (each, a “Purchaser” and, collectively, the “Purchasers”) as follows:

SECTION 1.

AUTHORIZATION OF NOTES.

The Company has authorized the issue and sale of (i) $50,000,000 aggregate principal amount of its 3.62% Senior Notes, Series A, due December 1, 2046 (the “Series A Notes”) and (ii) $50,000,000 aggregate principal amount of its 3.67% Senior Notes, Series B, due December 1, 2051 (the “Series B Notes,” together with the Series A Notes, as amended, restated or otherwise modified from time to time pursuant to Section 17 and including any such notes issued in substitution therefor pursuant to Section 13, the “Notes” and are each herein sometimes referred to as Notes of a “series”). The Series A Notes and the Series B Notes shall be substantially in the forms set out in Exhibit 1(a) and Exhibit 1(b), respectively. Certain capitalized and other terms used in this Agreement are defined in Schedule B; and references to a “Schedule” or an “Exhibit” are, unless otherwise specified, to a Schedule or an Exhibit attached to this Agreement.

SECTION 2.

SALE AND PURCHASE OF NOTES

Subject to the terms and conditions of this Agreement, the Company will issue and sell to each Purchaser and each Purchaser will purchase from the Company, at the Closing provided for in Section 3, Notes in the principal amount and of the series specified opposite such Purchaser’s name in Schedule A at the purchase price of 100% of the principal amount thereof. The Purchasers’ obligations hereunder are several and not joint obligations and no Purchaser shall have any liability to any Person for the performance or non-performance of any obligation by any other Purchaser hereunder.

SECTION 3.

CLOSING.

The sale and purchase of the Notes to be purchased by each Purchaser thereof shall occur at a closing (the “Closing”) on December 15, 2016 at the offices of Xxxxxxx and Xxxxxx LLP, 000 Xxxx Xxxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx 00000, at 10:00 a.m., Chicago time. At the Closing, the Company will deliver to each Purchaser the Notes of the series to be purchased by such Purchaser in the form of a single Note (or such greater number of Notes of such series in denominations of at least $100,000 as such Purchaser may request) dated the date of the Closing and registered in such Purchaser’s name (or in the name of its nominee), against delivery by such Purchaser to the Company or its order of immediately available funds in the amount of the purchase price therefor by wire transfer of immediately available funds for the account of the Company to account number 051-0000000 at Xxxxx Fargo Bank, 000 Xxxxx Xxxx Xxxxxx, Xxxx Xxxx Xxxx, XX 00000; ABA No. 000000000; Ref: Notes proceeds. If at the Closing, the Company shall fail to tender such Notes to any Purchaser as provided above in this Section 3, or any of the conditions specified in Section 4 shall not have been fulfilled to such Purchaser’s reasonable satisfaction, such Purchaser shall, at its election, be relieved of all further obligations under this Agreement, without thereby waiving any rights such Purchaser may have by reason of such failure by the Company to tender such Notes or any of the conditions specified in Section 4 not having been fulfilled to such Purchaser’s reasonable satisfaction.

SECTION 4.

CONDITIONS TO CLOSING.

Each Purchaser’s obligation to purchase and pay for the Notes to be sold to such Purchaser at the Closing is subject to the fulfillment to such Purchaser’s reasonable satisfaction, prior to or at the Closing, of the following conditions:

Section 4.1. Representations and Warranties. The representations and warranties of the Company in this Agreement shall be correct when made and at the time of the Closing.

Section 4.2. Performance; No Default. The Company shall have performed and complied with all agreements and conditions contained in this Agreement required to be performed or complied with by it prior to or at the Closing and from the date of this Agreement to the Closing assuming that Sections 9 and 10 are applicable from the date of this Agreement. From the date of this Agreement until the Closing, before and after giving effect to the issue and sale of the Notes (and the application of the proceeds thereof as contemplated by Section 5.14) no Default or Event of Default shall have occurred and be continuing.

-2-

Section 4.3. Compliance Certificates.

(a) Officer’s Certificate. The Company shall have delivered to such Purchaser an Officer’s Certificate, dated the date of the Closing, certifying that the conditions specified in Sections 4.1, 4.2 and 4.9 have been fulfilled.

(b) Secretary’s Certificate. The Company shall have delivered to such Purchaser a certificate of its Secretary or Assistant Secretary, dated the date of Closing, certifying as to the resolutions attached thereto and other corporate proceedings relating to the authorization, execution and delivery of the Notes and this Agreement and (ii) the Company’s organizational documents as then in effect.

Section 4.4. Opinions of Counsel. Such Purchaser shall have received opinions, dated the date of the Closing (a) from Stoel Rives LLP, special counsel for the Company, substantially in the form set forth in Exhibit 4.4(a); (b) from the Senior Counsel of the Parent substantially in the form set forth in Exhibit 4.4(b); and (c) from Xxxxxxx and Xxxxxx LLP, the Purchasers’ special counsel in connection with such transactions, substantially in the form set forth in Exhibit 4.4(c).

Section 4.5. Purchase Permitted By Applicable Law, Etc. On the date of the Closing such Purchaser’s purchase of Notes shall (a) be permitted by the laws and regulations of each jurisdiction to which such Purchaser is subject, without recourse to provisions (such as section 1405(a)(8) of the New York Insurance Law) permitting limited investments by insurance companies without restriction as to the character of the particular investment, (b) not violate any applicable law or regulation (including, without limitation, Regulation T, U or X of the Board of Governors of the Federal Reserve System) and (c) not subject such Purchaser to any tax, penalty or liability under or pursuant to any applicable law or regulation, which law or regulation was not in effect on the date hereof. If requested by such Purchaser, such Purchaser shall have received an Officer’s Certificate certifying as to such matters of fact as such Purchaser may reasonably specify to enable such Purchaser to determine whether such purchase is so permitted.

Section 4.6. Sale of Other Notes. Contemporaneously with the Closing, the Company shall sell to each other Purchaser and each other Purchaser shall purchase the Notes to be purchased by it at the Closing as specified in Schedule A.

Section 4.7. Payment of Special Counsel Fees. Without limiting the provisions of Section 15.1, the Company shall have paid on or before the Closing, the reasonable fees, charges and disbursements of the Purchasers’ special counsel to the extent reflected in a statement of such counsel, together with reasonably detailed supporting documentation, rendered to the Company at least one Business Day prior to the Closing.

-3-

Section 4.8. Private Placement Number. A Private Placement Number issued by Standard & Poor’s CUSIP Service Bureau (in cooperation with the SVO) shall have been obtained for each series of the Notes.

Section 4.9. Changes in Corporate Structure. The Company shall not have changed its jurisdiction of incorporation or been a party to any merger or consolidation or succeeded to all or any substantial part of the Material liabilities of any other entity, at any time following the date of the most recent financial statements referred to in Schedule 5.5.

Section 4.10. Funding Instructions. At least three Business Days prior to the date of the Closing, each Purchaser shall have received written instructions signed by a Responsible Officer on letterhead of the Company confirming the information specified in Section 3 including (i) the name and address of the transferee bank, (ii) such transferee bank’s ABA number and (iii) the account name and number into which the purchase price for the Notes is to be deposited.

Section 4.11. Proceedings and Documents. All corporate and other proceedings in connection with the transactions contemplated by this Agreement and all documents and instruments incident to such transactions shall be reasonably satisfactory to such Purchaser and its special counsel, and such Purchaser and its special counsel shall have received all such counterpart originals or certified or other copies of such documents as such Purchaser or such special counsel may reasonably request.

SECTION 5.

REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

The Company represents and warrants to each Purchaser that:

Section 5.1. Organization; Power and Authority. The Company is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation, and is duly qualified as a foreign corporation and is in good standing in each jurisdiction in which such qualification is required by law, other than those jurisdictions as to which the failure to be so qualified or in good standing would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The Company also has the corporate power and authority to own or hold under lease the properties it purports to own or hold under lease, to execute and deliver this Agreement and the Notes, to perform the provisions hereof and thereof and to transact the business it transacts and proposes to transact as described in the Memorandum, except where the failure to have such power and authority would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

Section 5.2. Authorization, Etc. This Agreement and the Notes have been duly authorized by all necessary corporate action on the part of the Company, and this Agreement constitutes, and upon execution and delivery thereof each Note against payment therefor will constitute, a legal, valid and binding obligation of the

-4-

Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).

Section 5.3. Disclosure. The Company, through its agents, MUFG Securities Americas Inc. (MUFG), Mizuho Securities USA Inc. and X.X. Xxxxxx Securities LLC (the “Agents”), has delivered to each Purchaser a copy of a Private Placement Memorandum, dated August 2016 (the “Memorandum”), relating to the transactions contemplated hereby. This Agreement, the Memorandum and the documents, certificates or other writings delivered to the Purchasers by or on behalf of the Company in connection with the transactions contemplated hereby and identified in Schedule 5.3, and the financial statements listed in Schedule 5.5 (this Agreement, the Memorandum, the Exchange Act Reports and such documents, certificates or other writings and such financial statements delivered to each Purchaser prior to the date of the Closing being referred to, collectively, as the “Disclosure Documents”), taken as a whole, do not as of their respective dates contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein not misleading in light of the circumstances under which they were made. Except as disclosed in the Disclosure Documents, since December 31, 2015 and through the date hereof, there has been no change in the financial condition, operations, business or properties of the Company except changes that individually or in the aggregate would not reasonably be expected to have a Material Adverse Effect.

Section 5.4. Organization and Ownership of Shares of Subsidiaries. The Company has no Subsidiaries.

Section 5.5. Financial Statements; Material Liabilities. The Company has delivered to each Purchaser copies of the consolidated financial statements of the Company listed on Schedule 5.5. All of said financial statements (including in each case the related schedules and notes) fairly present in all material respects the consolidated financial position of the Company as of the respective dates as specified in such financial statements and the consolidated results of their operations and cash flows for the respective periods so specified and have been prepared in accordance with GAAP consistently applied throughout the periods involved except as set forth in the notes thereto (subject, in the case of any interim financial statements, to normal year-end adjustments). The Company do not have any Material liabilities that are not disclosed on such financial statements or otherwise disclosed in the Disclosure Documents.

Section 5.6. Compliance with Laws, Other Instruments, Etc. The execution, delivery and performance by the Company of this Agreement and the Notes will not (i) contravene, result in any breach of, or constitute a default under, or result in the creation of any Lien in respect of any property of the Company under, any indenture, mortgage, deed of trust, loan, purchase or credit agreement, lease, corporate charter, regulations or by-laws, shareholders agreement or any other

-5-

Material agreement or instrument to which the Company is bound or by which the Company or any of their respective properties may be bound or affected, (ii) conflict with or result in a breach of any of the terms, conditions or provisions of any order, judgment, decree, or ruling of any court, arbitrator or Governmental Authority applicable to the Company or (iii) violate any provision of any statute or other rule or regulation of any Governmental Authority applicable to the Company, which contravention, default, Lien, conflict or breach, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect.

Section 5.7. Governmental Authorizations, Etc. Assuming the accuracy of the representations and warranties and covenants of the Purchasers contained herein and the Offeree Letters from each Agent, no consent, approval or authorization of, or registration, filing or declaration with, any Governmental Authority is required to be made by the Company in connection with the execution, delivery or performance by the Company of this Agreement or the Notes (including pursuant to the Public Utility Holding Company Act, as amended, or the Federal Power Act, as amended) except for those consents, approvals, authorizations, registrations, filings or declarations that have been obtained or made.

Section 5.8. Litigation; Observance of Statutes and Orders. (a) Except as disclosed on Schedule 5.8, there are no actions, suits, investigations or proceedings pending or, to the knowledge of the Company, threatened against or affecting the Company or any property of the Company in any court or before any arbitrator of any kind or before or by any Governmental Authority that, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect.

(b) The Company is not (i) in violation of any order, judgment, decree or ruling of any court, any arbitrator of any kind or any Governmental Authority or (ii) in violation of any applicable law, ordinance, rule or regulation (including without limitation Environmental Laws, the USA PATRIOT Act or any of the other laws and regulations that are referred to in Section 5.16) of any Governmental Authority, which default or violation, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect.

Section 5.9. Taxes. The Company has filed all income tax returns that are required to have been filed in any jurisdiction, and has paid all taxes shown to be due and payable on such returns and all other taxes and assessments payable by them, to the extent such taxes and assessments have become due and payable and before they have become delinquent, except for any taxes and assessments (i) the amount of which is not individually or in the aggregate Material or (ii) the amount, applicability or validity of which is currently being contested in good faith by appropriate proceedings and with respect to which the Company, as the case may be, has established adequate reserves in accordance with GAAP. The federal income tax liabilities of the Company have been finally determined (whether by reason of completed audits or the statute of limitations having run) for all fiscal years up to and including the fiscal year ended December 31, 2014.

-6-

Section 5.10. Title to Property; Leases. The Company has good and sufficient title to its Material properties, including all such properties reflected in the most recent audited balance sheet referred to in Section 5.5 or purported to have been acquired by the Company after said date (except as sold or otherwise disposed of in the ordinary course of business), in each case free and clear of Liens prohibited by this Agreement, except for those defects in title and Liens that, individually or in the aggregate, would not have a Material Adverse Effect. All Material leases are valid and subsisting and are in full force and effect in all material respects.

Section 5.11. Licenses, Permits, Etc. All licenses, permits, franchises, authorizations, patents, copyrights, proprietary software, service marks, trademarks and trade names, or rights thereto, owned or possessed by the Company that are Material, are owned or possessed without known conflict with the rights of others, except for those conflicts that, individually or in the aggregate, would not have a Material Adverse Effect.

Section 5.12. Compliance with ERISA. (a) The Company and each ERISA Affiliate have operated and administered each Plan in compliance with all applicable laws except for such instances of noncompliance as have not resulted in and could not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. Neither the Company nor any ERISA Affiliate has incurred any liability pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans (as defined in section 3 of ERISA), and no event, transaction or condition has occurred or exists that would, individually or in the aggregate, reasonably be expected to result in the incurrence of any such liability by the Company or any ERISA Affiliate, or in the imposition of any Lien on any of the rights, properties or assets of the Company or any ERISA Affiliate, in either case pursuant to Title I or IV of ERISA or to section 430(k) of the Code or to any such penalty or excise tax provisions under the Code or federal law or section 4068 of ERISA or by the granting of a security interest in connection with the amendment of a Plan, other than such liabilities or Liens as would not be individually or in the aggregate Material.

(b) The amount by which the present value of the aggregate benefit liabilities under each of the Plans (other than Multiemployer Plans), determined as of the end of such Plan’s most recently ended plan year on the basis of the actuarial assumptions specified for funding purposes in such Plan’s most recent actuarial valuation report exceeded the aggregate current value of the assets of such Plan allocable to such benefit liabilities is not more than $50 million. The term “benefit liabilities” has the meaning specified in section 4001 of ERISA and the terms “current value” and “present value” have the meaning specified in section 3 of ERISA.

(c) The Company and its ERISA Affiliates have not incurred withdrawal liabilities (and are not subject to contingent withdrawal liabilities) under section 4201 or 4204 of ERISA in respect of Multiemployer Plans that have not been paid and that individually or in the aggregate are Material.

-7-

(d) The expected postretirement benefit obligation (determined as of the last day of the Company’s most recently ended fiscal year in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 715-60, without regard to liabilities attributable to continuation coverage mandated by section 4980B of the Code) of the Company is not Material.

(e) The execution and delivery of this Agreement and the issuance and sale of the Notes hereunder will not involve any transaction that is subject to the prohibitions of section 406(a) of ERISA or in connection with which a tax could be imposed pursuant to section 4975(c)(1)(A)-(D) of the Code. The representation by the Company to each Purchaser in the first sentence of this Section 5.12(e) is made in reliance upon and subject to the accuracy of such Purchaser’s representation in Section 6.2 as to the sources of the funds to be used to pay the purchase price of the Notes to be purchased by such Purchaser.

(f) The Company does not have any Non-U.S. Plans.

Section 5.13. Private Offering by the Company. Neither the Company nor, assuming the accuracy of the Offeree Letter, anyone acting on its behalf has offered the Notes or any similar securities for sale to, or solicited any offer to buy the Notes or any similar Securities from, or otherwise approached or negotiated in respect thereof with, any person other than the Purchasers and not more than 45 other Institutional Investors, each of which has been offered the Notes at a private sale for investment. Neither the Company nor any of its Affiliates has offered the Notes or any similar securities during the six months prior to the date of the Closing to anyone other than the Purchasers. The Company has no intention to offer the Notes or any similar security during the six months from the date of the Closing. Neither the Company nor, assuming the accuracy of the Offeree Letter, any Person acting on its behalf has offered or sold the Notes by any form of general solicitation or general advertising, including, but not limited to, the following: (1) any advertisement, article, notice or other communication published in any newspaper, magazine, or similar media or broadcast over television or radio; (2) any website posting or widely distributed e-mail; or (3) any seminar or meeting whose attendees have been invited by any general solicitation or general advertising. Neither the Company nor, assuming the accuracy of the Offeree Letter, anyone acting on its behalf has taken, or will take, any action that would subject the issuance or sale of the Notes to the Purchasers to the registration requirements of section 5 of the Securities Act or to the registration requirements of any Securities or blue sky laws of any applicable jurisdiction.

Section 5.14. Use of Proceeds; Margin Regulations. The Company will apply the proceeds of the sale of the Notes to refinance existing indebtedness and for general corporate purposes. No part of the proceeds from the sale of the Notes hereunder will be used, directly or indirectly, for the purpose of buying or carrying any margin stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve System (12 CFR 221), or for the purpose of buying or carrying or trading in any Securities under such circumstances as to involve the Company in a violation of Regulation X of said Board (12 CFR 224) or to involve any broker or dealer in a violation of Regulation T of said Board (12 CFR 220). Margin stock does not constitute more than 5% of the

-8-

value of the consolidated assets of the Company and the Company does not have any present intention that margin stock will constitute more than 5% of the value of such assets. As used in this Section, the terms “margin stock” and “purpose of buying or carrying” shall have the meanings assigned to them in said Regulation U.

Section 5.15. Existing Indebtedness. Except as described therein, Schedule 5.15 sets forth a complete and correct list of all outstanding Indebtedness of the Company as of June 30, 2016 (including a description of the obligors and obligees, principal amount outstanding and collateral therefor, if any, and Guaranty thereof, if any), since which date there has been no Material change in the amounts, interest rates, sinking funds, installment payments or maturities of the Indebtedness of the Company. The Company is not in default and no waiver of default is currently in effect, in the payment of any principal or interest on any Indebtedness of the Company and no event or condition exists with respect to any Indebtedness of the Company the outstanding principal amount of which exceeds $35,000,000 that would permit (or that with notice or the lapse of time, or both, would permit) one or more Persons to cause such Indebtedness to become due and payable before its stated maturity or before its regularly scheduled dates of payment.

(b) The Company is not party to, or otherwise subject to any provision contained in, any instrument evidencing Indebtedness of the Company, any agreement relating thereto or any other agreement (including, but not limited to, its charter or other organizational document) which limits the amount of, or otherwise imposes restrictions on the incurring of, Indebtedness of the Company, except as specifically indicated in Schedule 5.15.

Section 5.16. Foreign Assets Control Regulations, Etc. (a) Neither the Company nor any Controlled Entity (i) is a Blocked Person, (ii) has been notified that its name appears or may in the future appear on a State Sanctions List or (iii) is a target of sanctions that have been imposed by the United Nations or the European Union.

(b) Neither the Company nor any Controlled Entity (i) has violated, been found in violation of, or been charged or convicted under, any applicable U.S. Economic Sanctions Laws, Anti-Money Laundering Laws or Anti-Corruption Laws or (ii) to the Company’s knowledge, is under investigation by any Governmental Authority for possible violation of any U.S. Economic Sanctions Laws, Anti-Money Laundering Laws or Anti-Corruption Laws.

(i) constitutes or will constitute funds obtained on behalf of any Blocked Person or will otherwise be used by the Company or any Controlled Entity, directly or indirectly, (A) in connection with any investment in, or any transactions or dealings with, any Blocked Person, (B) for any purpose that would cause any Purchaser to be in violation of any U.S. Economic Sanctions Laws or (C) otherwise in violation of any U.S. Economic Sanctions Laws;

-9-

(ii) will be used, directly or indirectly, in violation of, or cause any Purchaser to be in violation of, any applicable Anti-Money Laundering Laws; or

(iii) will be used, directly or indirectly, for the purpose of making any improper payments, including bribes, to any Governmental Official or commercial counterparty in order to obtain, retain or direct business or obtain any improper advantage in each case which would be in violation of, or cause any Purchaser to be in violation of, any applicable Anti-Corruption Laws.

(d) The Company has established procedures and controls which it reasonably believes are adequate (and otherwise comply with applicable law) to ensure that the Company and each Controlled Entity is and will continue to be in compliance with all applicable U.S. Economic Sanctions Laws, Anti-Money Laundering Laws and Anti-Corruption Laws.

Section 5.17. Status under Certain Statutes. The Company is not subject to regulation under the Investment Company Act of 1940, the Public Utility Holding Company Act of 2005, the ICC Termination Act of 1995, or the Federal Power Act.

Section 5.18. No Brokers. Other than the Agents, the Company has not dealt with any broker, finder, commission agent, placement agent or arranger in connection with soliciting purchasers for the Notes or otherwise in connection with the sale of the Notes and the transactions contemplated by this Agreement. Neither the Company nor any of its Affiliates nor any other person acting on its behalf (other than its officers acting in such capacity and the Agents) has solicited offers for, or offered or sold, the Notes other than through the Agents.

SECTION 6.

REPRESENTATIONS OF THE PURCHASERS.

Section 6.1. Purchase for Investment. Each Purchaser severally represents that it is purchasing the Notes for its own account or for one or more separate accounts maintained by such Purchaser or for the account of one or more pension or trust funds and not with a view to the distribution thereof, provided that the disposition of such Purchaser’s or their property shall at all times be within such Purchaser’s or their control. Each Purchaser further represents and warrants that such Purchaser (a) will not sell, transfer or otherwise dispose of the Notes or any interest therein except in a transaction exempt from or not subject to the registration requirements of the Securities Act and in accordance with the restrictions set forth in Section 13.2 and the legend set forth on the certificates evidencing the Notes and (b) was given the opportunity to ask questions and receive answers concerning the terms and conditions of the offering and to request additional information. Each Purchaser acknowledges that the Notes will bear a restrictive legend substantially in the form set forth on the form of Notes set forth in Exhibit 1 hereto. Each Purchaser represents that it is an accredited investor (as defined in

-10-

Rule 501(a)(1), (2), (3) or (7) under the Securities Act) the acting for its own account (and not for the account of others) or as a fiduciary or agent for others (which others are also accredited investors (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act)). Each Purchaser understands that the Notes have not been registered under the Securities Act or any state securities laws and may be resold only if registered pursuant to the provisions of the Securities Act and applicable state securities laws or if an exemption from registration is available, except under circumstances where neither such registration nor such an exemption is required by law, and that the Company is not required to register the Notes.

Section 6.2. Source of Funds. Each Purchaser severally represents that at least one of the following statements is an accurate representation as to each source of funds (a “Source”) to be used by such Purchaser to pay the purchase price of the Notes to be purchased by such Purchaser hereunder:

(a) the Source is an “insurance company general account” (as the term is defined in the United States Department of Labor’s Prohibited Transaction Exemption (“PTE”) 95-60) in respect of which the reserves and liabilities (as defined by the annual statement for life insurance companies approved by the National Association of Insurance Commissioners (the “NAIC Annual Statement”)) for the general account contract(s) held by or on behalf of any employee benefit plan together with the amount of the reserves and liabilities for the general account contract(s) held by or on behalf of any other employee benefit plans maintained by the same employer (or affiliate thereof as defined in PTE 95-60) or by the same employee organization in the general account do not exceed 10% of the total reserves and liabilities of the general account (exclusive of separate account liabilities) plus surplus as set forth in the NAIC Annual Statement filed with such Purchaser’s state of domicile; or

(b) the Source is a separate account that is maintained solely in connection with such Purchaser’s fixed contractual obligations under which the amounts payable, or credited, to any employee benefit plan (or its related trust) that has any interest in such separate account (or to any participant or beneficiary of such plan (including any annuitant)) are not affected in any manner by the investment performance of the separate account; or

(c) the Source is either (i) an insurance company pooled separate account, within the meaning of PTE 90-1 or (ii) a bank collective investment fund, within the meaning of the PTE 91-38 and, except as disclosed by such Purchaser to the Company in writing pursuant to this clause (c), no employee benefit plan or group of plans maintained by the same employer or employee organization beneficially owns more than 10% of all assets allocated to such pooled separate account or collective investment fund; or

(d) the Source constitutes assets of an “investment fund” (within the meaning of Part VI of PTE 84-14 (the “QPAM Exemption”)) managed by a “qualified professional asset manager” or “QPAM” (within the meaning of Part VI of the QPAM Exemption), no employee benefit plan’s assets that are managed by the QPAM in such investment fund, when combined with the assets of all other employee benefit plans established or maintained by the same employer or by an affiliate (within the meaning of Part VI(c)(1) of the QPAM Exemption) of such employer or by the same employee

-11-

organization and managed by such QPAM, represent more than 20% of the total client assets managed by such QPAM, the conditions of Part I(c) and (g) of the QPAM Exemption are satisfied, neither the QPAM nor a person controlling or controlled by the QPAM (applying the definition of “control” in Part VI(e) of the QPAM Exemption) maintains an ownership interest in the Company that would cause the QPAM and the Company to be “related” within the meaning of Part VI(h) of the QPAM Exemption and (i) the identity of such QPAM and (ii) the names of any employee benefit plans whose assets in the investment fund, when combined with the assets of all other employee benefit plans established or maintained by the same employer or by an affiliate (within the meaning of Part VI(c)(1) of the QPAM Exemption) of such employer or by the same employee organization, represent 10% or more of the assets of such investment fund, have been disclosed to the Company in writing pursuant to this clause (d); or

(e) the Source constitutes assets of a “plan(s)” (within the meaning of Part IV(h) of PTE 96-23 (the “INHAM Exemption”)) managed by an “in-house asset manager” or “INHAM” (within the meaning of Part IV(a) of the INHAM Exemption), the conditions of Part I(a), (g) and (h) of the INHAM Exemption are satisfied, neither the INHAM nor a person controlling or controlled by the INHAM (applying the definition of “control” in Part IV(d)(3) of the INHAM Exemption) owns a 10% or more interest in the Company and (i) the identity of such INHAM and (ii) the name(s) of the employee benefit plan(s) whose assets constitute the Source have been disclosed to the Company in writing pursuant to this clause (e); or

(f) the Source is a governmental plan; or

(g) the Source is one or more employee benefit plans, or a separate account or trust fund comprised of one or more employee benefit plans, each of which has been identified to the Company in writing pursuant to this clause (g); or

(h) the Source does not include assets of any employee benefit plan, other than a plan exempt from the coverage of ERISA.

As used in this Section 6.2, the terms “employee benefit plan,” “governmental plan,” and “separate account” shall have the respective meanings assigned to such terms in section 3 of ERISA.

SECTION 7.

INFORMATION AS TO COMPANY.

Section 7.1. Financial and Business Information. The Company shall deliver, or make available, to each holder of a Note that is an Institutional Investor:

(a) Quarterly Statements — within 60 days (or such shorter period as is 15 days greater than the period applicable to the filing of the Company’s Quarterly Report on Form 10-Q (the “Form 10-Q”) with the SEC regardless of whether the

-12-

Company is subject to the filing requirements thereof) after the end of each quarterly fiscal period in each fiscal year of the Company (other than the last quarterly fiscal period of each such fiscal year), duplicate copies of,

(i) an unaudited consolidated balance sheet of the Company and its Subsidiaries as at the end of such quarter, and

(ii) unaudited consolidated statements of income, changes in shareholders’ equity and cash flows of the Company and its Subsidiaries, for such quarter and (in the case of the second and third quarters) for the portion of the fiscal year ending with such quarter,

setting forth in each case in comparative form the figures for the corresponding periods in the previous fiscal year, all in reasonable detail, prepared in accordance with GAAP applicable to quarterly financial statements generally, and certified by a Senior Financial Officer as fairly presenting, in all material respects, the consolidated financial position of the Company and its Subsidiaries and their results of operations and cash flows, subject to changes resulting from year-end adjustments, provided that delivery within the time period specified above of copies of the Company’s Form 10-Q prepared in compliance with the requirements therefor and filed with the SEC shall be deemed to satisfy the requirements of this Section 7.1(a), and provided, further, that the Company shall be deemed to have made such delivery of such Form 10-Q if it shall have timely made such Form 10-Q available on “XXXXX” and on its or its Parent’s home page on the worldwide web (at the date of this Agreement located at: http//xxx.xxxxxxx.xxx) (such availability thereof being referred to as “Electronic Delivery”);

(b) Annual Statements — within 105 days (or such shorter period as is 15 days greater than the period applicable to the filing of the Company’s Annual Report on Form 10-K (the “Form 10-K”) with the SEC regardless of whether the Company is subject to the filing requirements thereof) after the end of each fiscal year of the Company, duplicate copies of,

(i) a consolidated balance sheet of the Company and its Subsidiaries, as at the end of such year, and

(ii) consolidated statements of income, changes in shareholders’ equity and cash flows of the Company and its Subsidiaries, for such year,

setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail, prepared in accordance with GAAP, and accompanied by an opinion thereon of independent public accountants of recognized national standing, which opinion shall state that such financial statements present fairly, in all material respects, the consolidated financial position of the Company and its Subsidiaries and their results of operations and cash flows and have been prepared in conformity with GAAP, and that the examination of such accountants in connection with such financial statements has been made in accordance with generally accepted auditing standards, and that such audit

-13-

provides a reasonable basis for such opinion in the circumstances, provided that the delivery within the time period specified above of the Company’s Annual Report on Form 10-K for such fiscal year (excluding such information as is permitted to be incorporated by reference to the Company’s annual report to shareholders, if any, prepared pursuant to Rule 14a-3 under the Exchange Act) prepared in accordance with the requirements therefor and filed with the SEC shall be deemed to satisfy the requirements of this Section 7.1(b), and provided, further, that the Company shall be deemed to have made such delivery of such Form 10-K if it shall have timely made Electronic Delivery thereof;

(c) SEC and Other Reports — promptly upon their becoming available, one copy of (A) each Material financial statement, report, notice, proxy statement or similar document sent by the Company or any Subsidiary (x) to the lenders (in their capacity as such) under its Principal Bank Credit Agreement (excluding information sent to such banks in the ordinary course of administration of a bank facility, such as information relating to pricing and borrowing availability, and without duplication of the same or substantially similar information previously delivered, or otherwise required to be delivered pursuant to the terms of this Agreement, by the Company to the holders) or (y) to its public securities holders generally, and (B) each regular or periodic report filed by the Company or any Subsidiary with the SEC, provided that the Company shall be deemed to satisfy the requirements of this Section 7.1(c)(A) and made such delivery thereof if it shall have timely made Electronic Delivery thereof, and (B) each registration statement that shall have become effective (without exhibits except as expressly requested by such holder), and each final prospectus and all amendments thereto filed by the Company or any Subsidiary with the SEC, provided that the Company shall be deemed to satisfy the requirements of this Section 7.1(c)(B) and made such delivery thereof if the documents are available on “XXXXX”;

(d) Notice of Default or Event of Default — promptly, and in any event within ten days after a Responsible Officer becoming aware of the existence of any Default or Event of Default, a written notice specifying the nature and period of existence thereof and what action the Company is taking or proposes to take with respect thereto;

(e) ERISA Matters — promptly, and in any event within five days after a Responsible Officer becoming aware of any of the following, a written notice setting forth the nature thereof and the action, if any, that the Company, any of its Subsidiaries, or, to the extent known by a Responsible Officer after making reasonable due inquiry, an ERISA Affiliate (which is not a Subsidiary) proposes to take with respect thereto:

(i) with respect to any Plan, any reportable event, as defined in section 4043(c) of ERISA and the regulations thereunder, for which notice thereof has not been waived pursuant to such regulations as in effect on the date hereof; or

(ii) the taking by the PBGC of steps to institute, or the threatening by the PBGC of the institution of, proceedings under section 4042 of ERISA for the

-14-

termination of, or the appointment of a trustee to administer, any Plan, or the receipt by the Company or any ERISA Affiliate of a notice from a Multi-employer Plan that such action has been taken by the PBGC with respect to such Multi-employer Plan;

(iii) any event, transaction or condition that could result in the incurrence of any liability by the Company or any ERISA Affiliate pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans, or in the imposition of any Lien on any of the rights, properties or assets of the Company or any ERISA Affiliate pursuant to Title I or IV of ERISA or such penalty or excise tax provisions, if such liability or Lien, taken together with any other such liabilities or Liens then existing, would reasonably be expected to have a Material Adverse Effect; or

(f) Unaudited Financials of Company and Restricted Subsidiaries — upon the request of any holder of Notes, (A) unaudited quarterly statements of the Company and its Restricted Subsidiaries (within 60 days of such request) and (B) unaudited annual statements of the Company and its Restricted Subsidiaries (within 105 days of such request), in each case certified by a Senior Financial Officer as fairly presenting, in all material respects, the consolidated financial position of the Company and its Restricted Subsidiaries and their results of operations and cash flow for the applicable period; and

(g) Requested Information — with reasonable promptness, such other data and information relating to the business, operations, affairs, financial condition, assets or properties of the Company or any of its Subsidiaries (including actual copies of the Company’s Form 10-Q and Form 10-K) or relating to the ability of the Company to perform its obligations under this Agreement and under the Notes as from time to time may be reasonably requested by any such holder of a Note.

Section 7.2. Officer’s Certificate. From and after the date of the Closing, each set of financial statements delivered to a holder of a Note pursuant to Section 7.1(a) or Section 7.1(b) shall be accompanied by a certificate of a Senior Financial Officer (which, in the case of Electronic Delivery of any such financial statements, shall be by separate delivery of such certificate to each holder of Notes):

(a) Covenant Compliance — setting forth the information (including detailed calculations) required in order to establish whether the Company was in compliance with the requirements of Section 10.6, Section 10.7 and Section 10.8, during the quarterly or annual period covered by the financial statements then being furnished (including with respect to each such provision that involves mathematical calculations, the information from such financial statements that is required to perform such calculations) and detailed calculations of the maximum or minimum ratio or percentage, as the case may be, permissible under the terms of such Sections, and the calculation of the amount, ratio or percentage then in existence). In the event that the Company or any Subsidiary has made an election to measure any financial liability using fair value (which election is being disregarded for purposes of determining compliance with this Agreement pursuant to

-15-

Section 22.2) as to the period covered by any such financial statement, such Senior Financial Officer’s certificate as to such period shall include a reconciliation from GAAP with respect to such election;

(b) Event of Default — certifying that such Senior Financial Officer has reviewed the relevant terms hereof and has made, or caused to be made, under his or her supervision, a review of the transactions and conditions of the Company and its Subsidiaries from the beginning of the quarterly or annual period covered by the statements then being furnished to the date of the certificate and that such review shall not have disclosed the existence during such period of any condition or event that constitutes a Default or an Event of Default or, if any such condition or event existed or exists, specifying the nature and period of existence thereof and what action the Company shall have taken or proposes to take with respect thereto; and

(c) Subsidiary Guarantors – setting forth a list of all Subsidiaries that are Subsidiary Guarantors and certifying that each Subsidiary that is required to be a Subsidiary Guarantor pursuant to Section 9.8 is a Subsidiary Guarantor, in each case, as of the date of such certificate of Senior Financial Officer.

Section 7.3. Visitation. The Company shall permit the representatives of each holder of a Note that is an Institutional Investor:

(a) No Default — if no Default or Event of Default then exists, at the expense of such holder and upon reasonable prior notice to the Company and during normal business hours and not more often than once during any calendar year, to visit the principal executive office of the Company, to discuss the affairs, finances and accounts of the Company and its Subsidiaries with the Company’s officers, and, with the consent of the Company (which consent will not be unreasonably withheld) to visit the other offices and properties of the Company and each Subsidiary, all at such reasonable times and as often as may be reasonably requested in writing; and

(b) Default — if a Default or Event of Default then exists, at the reasonable expense of the Company to visit and inspect any of the offices or properties of the Company or any Subsidiary upon reasonable prior notice to the Company and during normal business hours, to examine all relevant books of account, records, reports and other papers, to make copies and extracts therefrom, and to discuss their respective affairs, finances and accounts with their respective officers and independent public accountants (and by this provision the Company authorizes said accountants to discuss the affairs, finances and accounts of the Company and its Subsidiaries), all at such reasonable times and as often as may be reasonably requested.

-16-

SECTION 8.

PAYMENT AND PREPAYMENT OF THE NOTES.

Section 8.1. Maturity. As provided therein, the entire unpaid principal balance of the Series A Notes and the Series B Notes shall be due and payable on the stated maturity date thereof.

Section 8.2. Optional Prepayments.

(a) Optional Prepayment with Make-Whole Amount. Subject to Section 8.2(b) hereof, the Company may, at its option, upon notice as provided below, prepay at any time all, or from time to time any part of, the Notes, in an amount not less than 5% of the aggregate principal amount of the Notes then outstanding in the case of a partial prepayment, at 100% of the principal amount so prepaid, plus the Make-Whole Amount determined for the prepayment date with respect to such principal amount. The Company will give each holder of Notes written notice of each optional prepayment under this Section 8.2(a) not less than 20 days and not more than 60 days prior to prepayment date specified in such notice unless the Company and the Required Holders agree to another time period pursuant to Section 17 (the “Prepayment Date”). The Company may provide in such notice that repayment of the Notes and the performance of the Company’s obligations with respect to such prepayment may be performed by (i) a paying agent or any other Person acting in a similar capacity or (ii) the Parent. Each such notice shall specify such date (which shall be a Business Day), the aggregate principal amount of the Notes to be prepaid on such date, the principal amount of each Note held by such holder to be prepaid (determined in accordance with Section 8.3), and the interest to be paid on the prepayment date with respect to such principal amount being prepaid, and shall be accompanied by a certificate of a Senior Financial Officer as to the estimated Make-Whole Amount due in connection with such prepayment (calculated as if the date of such notice were the date of the prepayment), setting forth the details of such computation. Two Business Days prior to such prepayment, the Company shall deliver to each holder of Notes a certificate of a Senior Financial Officer specifying the calculation of such Make-Whole Amount as of the specified Prepayment Date.

(b) Optional Prepayment without Make-Whole Amount of the Series A Notes. At any time on or after June 1, 2046 (the period from such date to the stated maturity of the Series A Notes being referred to as the “Series A 6-Month Period”), the Company may, at its option, upon notice as provided below, prepay all or any part of the Series A Notes at 100% of the principal amount so prepaid. The Company will give each holder of the Series A Notes written notice of each optional prepayment under this Section 8.2(b) not less than 20 days and not more than 60 days prior to the prepayment date specified in such notice. The Company may provide in such notice that repayment of the Series A Notes and the performance of the Company’s obligations with respect to such prepayment may be performed by (i) a paying agent or any other Person acting in a similar capacity or (ii) the Parent. Each such notice shall specify such date (which shall be a Business Day during the Series A 6-Month Period), the aggregate principal amount of the Series A Notes to be prepaid on such date, the principal amount of each Series A Note held by such holder to be prepaid (determined in accordance with Section 8.3), and the interest to be paid on the prepayment date with respect to such principal amount being prepaid.

-17-

(c) Optional Prepayment without Make-Whole Amount of the Series B Notes. At any time on or after June 1, 2051 (the period from such date to the stated maturity of the Series B Notes being referred to as the “Series B 6-Month Period”), the Company may, at its option, upon notice as provided below, prepay all or any part of the Series B Notes at 100% of the principal amount so prepaid. The Company will give each holder of the Series B Notes written notice of each optional prepayment under this Section 8.2(c) not less than 20 days and not more than 60 days prior to the prepayment date specified in such notice. The Company may provide in such notice that repayment of the Series B Notes and the performance of the Company’s obligations with respect to such prepayment may be performed by (i) a paying agent or any other Person acting in a similar capacity or (ii) the Parent. Each such notice shall specify such date (which shall be a Business Day during the Series B 6-Month Period), the aggregate principal amount of the Series B Notes to be prepaid on such date, the principal amount of each Series B Note held by such holder to be prepaid (determined in accordance with Section 8.3), and the interest to be paid on the prepayment date with respect to such principal amount being prepaid.

Section 8.3. Allocation of Partial Prepayments. In the case of each partial prepayment of the Notes, the principal amount of the Notes to be prepaid shall be allocated among all of the Notes at the time outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof not theretofore called for prepayment.

Section 8.4. Maturity; Surrender, Etc. In the case of each prepayment of Notes pursuant to this Section 8, the principal amount of each Note to be prepaid shall mature and become due and payable on the Prepayment Date (which shall be a Business Day), together with interest on such principal amount accrued to but not including such date and the applicable Make-Whole Amount, if any. From and after such date, unless the Company shall fail to pay such principal amount when so due and payable, together with the interest and Make-Whole Amount, if any, as aforesaid, interest on such principal amount shall cease to accrue. Any Note paid or prepaid in full shall be surrendered to the Company and cancelled and shall not be reissued, and no Note shall be issued in lieu of any prepaid principal amount of any Note.

Section 8.5. Purchase of Notes. The Company will not and will not permit any of the Company’s Controlled Affiliates, the Parent or any Subsidiary of the Company or the Parent to purchase, redeem, prepay or otherwise acquire, directly or indirectly, any of the outstanding Notes except (a) upon the payment or prepayment of the Notes in accordance with the terms of this Agreement and the Notes or (b) pursuant to an offer to purchase made by the Company, a Controlled Affiliate of the Company, the Parent or any Subsidiary of the Company or the Parent pro rata to the holders of all Notes at the time outstanding upon the same terms and conditions. Any such offer shall provide each holder with sufficient information to enable it to make an informed decision with respect to such offer, and shall remain open for at least 20 Business Days. The Company will promptly cancel all Notes acquired by it, any of the Company’s Controlled Affiliates, the Parent or any Subsidiary of the Company or the Parent pursuant to any payment, prepayment or purchase of Notes pursuant to any provision of this Agreement and no Notes may be issued in substitution or exchange for any such Notes.

-18-

Section 8.6. Make-Whole Amount for the Notes. “Make-Whole Amount” means, with respect to any Note of any series, an amount equal to the excess, if any, of the Discounted Value of the Remaining Scheduled Payments with respect to the Called Principal of such Note of such series over the amount of such Called Principal, provided that the Make-Whole Amount may in no event be less than zero. For the purposes of determining the Make-Whole Amount, the following terms have the following meanings:

“Called Principal” means, with respect to any Note, the principal of such Note that is to be prepaid pursuant to Section 8.2(a) or has become or is declared to be immediately due and payable pursuant to Section 12.1, as the context requires.

“Discounted Value” means, with respect to the Called Principal of any Note, the amount obtained by discounting all Remaining Scheduled Payments with respect to such Called Principal from their respective scheduled due dates to the Settlement Date with respect to such Called Principal, in accordance with accepted financial practice and at a discount factor (applied on the same periodic basis as that on which interest on the Notes is payable) equal to the Reinvestment Yield with respect to such Called Principal.

“Reinvestment Yield” means, with respect to the Called Principal of any Note, the sum of (a) 0.50% plus (b) the yield to maturity implied by the “Ask Yield(s)” reported as of 10:00 a.m. (New York City time) on the second Business Day preceding the Settlement Date with respect to such Called Principal, on the display designated as “Page PX1” (or such other display as may replace Page PX1) on Bloomberg Financial Markets for the most recently issued actively traded on-the-run U.S. Treasury securities (“Reported”) having a maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date. If there are no such U.S. Treasury securities Reported having a maturity equal to such Remaining Average Life, then such implied yield to maturity will be determined by (i) converting U.S. Treasury xxxx quotations to bond equivalent yields in accordance with accepted financial practice and (ii) interpolating linearly between the “Ask Yields” reported for the applicable most recently issued actively traded on-the-run U.S. Treasury securities with the maturities (1) closest to and greater than such Remaining Average Life and (2) closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable Note.

If such yields are not Reported or the yields Reported as of such time are not ascertainable (including by way of interpolation), then “Reinvestment Yield” means, with respect to the Called Principal of any Note, the sum of (x) 0.50% plus (y) the yield to maturity implied by the U.S. Treasury constant maturity yields reported, for the latest day for which such yields have been so reported as of the second Business Day preceding the Settlement Date with respect to such Called Principal, in Federal Reserve Statistical Release H.15 (or any comparable successor publication) for the U.S. Treasury constant maturity having a term equal to the Remaining Average Life of such Called Principal as of such Settlement Date. If there is no such U.S. Treasury constant maturity having a term equal to such Remaining Average Life, such implied yield to maturity will be determined by interpolating linearly between (1) the U.S. Treasury constant maturity so reported with the term closest to and greater than such

-19-

Remaining Average Life and (2) the U.S. Treasury constant maturity so reported with the term closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable Note.

“Remaining Average Life” means, with respect to any Called Principal, the number of years obtained by dividing (i) such Called Principal into (ii) the sum of the products obtained by multiplying (a) the principal component of each Remaining Scheduled Payment with respect to such Called Principal by (b) the number of years, computed on the basis of a 360-day year comprised of twelve 30-day months and calculated to two decimal places, that will elapse between the Settlement Date with respect to such Called Principal and the scheduled due date of such Remaining Scheduled Payment.

“Remaining Scheduled Payments” means, with respect to the Called Principal of any Note, all payments of such Called Principal and interest thereon that would be due after the Settlement Date with respect to such Called Principal if no payment of such Called Principal were made prior to its scheduled due date, provided that if such Settlement Date is not a date on which interest payments are due to be made under the Notes, then the amount of the next succeeding scheduled interest payment will be reduced by the amount of interest accrued to such Settlement Date and required to be paid on such Settlement Date pursuant to Section 8.4 or Section 12.1.

“Settlement Date” means, with respect to the Called Principal of any Note, the date on which such Called Principal is to be prepaid pursuant to Section 8.2(a) or has become or is declared to be immediately due and payable pursuant to Section 12.1, as the context requires.

Section 8.7. Payments Due on Non-Business Days. Anything in this Agreement or the Notes to the contrary notwithstanding, (x) except as set forth in clause (y), any payment of interest on any Note that is due on a date that is not a Business Day shall be made on the next succeeding Business Day without including the additional days elapsed in the computation of the interest payable on such next succeeding Business Day; and (y) any payment of principal of or Make-Whole Amount on any Note (including principal due on the Maturity Date of such Note) that is due on a date that is not a Business Day shall be made on the next succeeding Business Day and shall include the additional days elapsed in the computation of interest payable on such next succeeding Business Day.

SECTION 9.

AFFIRMATIVE COVENANTS.

The Company covenants that from and after the date hereof and so long as any of the Notes are outstanding:

Section 9.1. Compliance with Laws. Without limiting Section 10.4, the Company will and will cause each of its Subsidiaries to comply with all laws, ordinances or governmental rules or regulations to which each of them is subject to the extent applicable to it or its business or property, including, without limitation,

-00-

XXXXX, Xxxxxxxxxxxxx Laws, the USA PATRIOT Act and the other laws and regulations that are referred to in Section 5.16, and will obtain and maintain in effect all licenses, certificates, permits, franchises and other governmental authorizations necessary to the ownership of their respective properties or to the conduct of their respective businesses, except for such as are being contested in good faith by appropriate proceedings diligently conducted and, in each case to the extent necessary to ensure that non-compliance with such laws, ordinances or governmental rules or regulations or failures to obtain or maintain in effect such licenses, certificates, permits, franchises and other governmental authorizations would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.

Section 9.2. Insurance. The Company will, and will cause each of its Restricted Subsidiaries to, maintain, with financially sound and reputable insurers, insurance with respect to their respective properties and businesses against such casualties and contingencies, of such types, on such terms and in such amounts (including deductibles, co-insurance and self-insurance) as is customary in the case of entities of established reputations engaged in the same or a similar business and similarly situated.

Section 9.3. Maintenance of Properties. The Company will and will cause each of its Restricted Subsidiaries to maintain and keep, or cause to be maintained and kept, their respective properties in good repair, working order and condition (other than ordinary wear and tear), so that the business carried on in connection therewith may be properly conducted at all times, provided that this Section shall not prevent the Company or any Restricted Subsidiary from discontinuing the operation and the maintenance of any of its properties if such discontinuance is desirable in the conduct of its business and the Company has concluded that such discontinuance would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

Section 9.4. Payment of Taxes. The Company will and will cause each of its Subsidiaries to file all income tax or similar tax returns required to be filed in any jurisdiction and to pay and discharge all taxes shown to be due and payable on such returns and all other taxes, assessments, governmental charges, or levies payable by any of them, to the extent the same have become due and payable and before they have become delinquent, provided that neither the Company nor any Subsidiary need pay any such tax, assessment, charge or levy if (i) the amount, applicability or validity thereof is contested by the Company or such Subsidiary on a timely basis in good faith and in appropriate proceedings, and the Company or a Subsidiary has established adequate reserves therefor in accordance with GAAP on the books of the Company or such Subsidiary or (ii) the nonpayment of all such taxes, assessments, charges and levies in the aggregate would not reasonably be expected to have a Material Adverse Effect.

Section 9.5. Corporate Existence, Etc. Except as a result of an event or transaction that complies with Section 10.2, (a) the Company will at all times preserve and keep in full force and effect its corporate existence and (b) the Company will at all times preserve and keep in full force and effect the corporate existence of each of its Restricted Subsidiaries (unless merged into the Company or a Wholly-Owned Restricted Subsidiary) and all rights and franchises of the Company and its Restricted

-21-

Subsidiaries unless, in the good faith judgment of the Company, the termination of or failure to preserve and keep in full force and effect such corporate existence, right or franchise would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

Section 9.6. Books and Records. The Company will, and will cause each of its Restricted Subsidiaries to, maintain proper books of record and account in conformity with GAAP and all applicable requirements of any Governmental Authority having legal or regulatory jurisdiction over the Company or such Restricted Subsidiary, as the case may be.

Section 9.7. Priority of Obligations. The Notes and all other obligations under this Agreement of the Company are and at all times shall remain direct and unsecured obligations of the Company ranking pari passu in right of payment with each other without any preference among themselves and pari passu in right of payment with all other present and future Indebtedness of the Company, in each case which is not expressed to be subordinate or junior in rank to any other unsecured Indebtedness of the Company.

Section 9.8. Subsidiary Guarantors. (a) The Company shall ensure that at all times each Subsidiary that has outstanding a Guaranty with respect to any Indebtedness outstanding under its Principal Bank Credit Agreement guarantees the obligations of the Company under the Notes and hereunder.

(b) The Company will cause each Subsidiary which becomes a Subsidiary Guarantor to execute and deliver a guaranty agreement which shall be in a form comparable to and not materially more restrictive as a whole than such guarantee and otherwise reasonably acceptable in form and substance to the Required Holders (the “Subsidiary Guaranty”) and to provide, together with an executed copy thereof, the following to each holder of a Note: (1) a certificate signed by an authorized Responsible Officer of the Company making representations and warranties substantially to the effect of those contained in Sections 5.1, 5.2, 5.6, 5.7 and 5.17, with respect to such Subsidiary and the Subsidiary Guaranty, as applicable; (2) all relevant documents as may be reasonably requested by the Required Holders to evidence the due organization, continuing existence and, where applicable, good standing of such Subsidiary and the due authorization by all requisite action on the part of such Subsidiary of the execution and delivery of such Subsidiary Guaranty and the performance by such Subsidiary of its obligations thereunder; and (3) an opinion of counsel (who may be in-house counsel for the Company) addressed to each of the holders of the Notes reasonably satisfactory to the Required Holders, to the effect that the Subsidiary Guaranty by such Person has been duly authorized, executed and delivered and that the Subsidiary Guaranty constitutes the legal, valid and binding contract and agreement of such Person enforceable in accordance with its terms, except as an enforcement of such terms may be limited by bankruptcy, insolvency, fraudulent conveyance and similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles. All reasonable fees and expenses of the holders, including, without limitation, reasonable attorney’s fees, incurred in connection with the execution and delivery of the Subsidiary Guaranty and the related agreements and opinions described above shall be borne by the Company.

-22-

(c) Subject and subordinate to the requirements of Section 9.8(a), at the election of the Company and by written notice to each holder of Notes, any Subsidiary Guarantor may be discharged from all of its obligations and liabilities under the Subsidiary Guaranty and shall be automatically released from its obligations thereunder without the need for the execution or delivery of any other document by the holders or any other Person, provided, in each case, that (i) after giving effect to such release no Default or Event of Default shall have occurred and be continuing, (ii) that no amount is then due and payable by such Subsidiary Guarantor, (iii) if any fee or other form of consideration is given to any holder of Indebtedness of the Company expressly for the purpose of such release, holders of the Notes shall receive equivalent consideration, and (iv) each holder of Notes shall have received a certificate of a Responsible Officer to the foregoing effect and setting forth the information (including reasonably detailed computations) reasonably required to establish compliance with the foregoing requirements.

Section 9.9. Designation of Subsidiaries. The Company may from time to time cause any Subsidiary (other than a Subsidiary Guarantor) to be designated as an Unrestricted Subsidiary or any Unrestricted Subsidiary to be designated a Restricted Subsidiary; provided, however, that at the time of such designation and immediately after giving effect thereto, (a) no Default or Event of Default would exist under the terms of this Agreement assuming for the purposes of determining compliance with Sections 10.6 and 10.7 that any such designation was made as of the end of the most recent fiscal quarter, and (b) the Company and its Restricted Subsidiaries would be in compliance with Section 10.8 if tested on the date of such action and provided, further, that once a Subsidiary has been designated an Unrestricted Subsidiary, it shall not thereafter be redesignated as a Restricted Subsidiary on more than one occasion and once a Subsidiary has been designated a Restricted Subsidiary, it shall not thereafter be redesignated as an Unrestricted Subsidiary on more than one occasion. Within ten (10) days following any designation described above, the Company will deliver to each holder a notice of such designation accompanied by a certificate signed by a Senior Financial Officer of the Company certifying compliance with all requirements of this Section 9.9 and setting forth all information required in order to establish such compliance.

SECTION 10.

NEGATIVE COVENANTS.

The Company covenants that from and after the date hereof and so long as any of the Notes are outstanding:

Section 10.1. Transactions with Affiliates. The Company will not and will not permit any Restricted Subsidiary to enter into directly or indirectly any Material transaction or Material group of related transactions (including without limitation the purchase, lease, sale or exchange of properties of any kind or the rendering of any service) with any Affiliate (other than the Company, the Parent or a Restricted Subsidiary of the Company or a Subsidiary of the Parent), except pursuant to the reasonable requirements of the Company’s or such Subsidiary’s business and upon fair and reasonable terms and which transaction does not violate any regulatory requirements applicable to the Company or any such Subsidiary.

-23-

Section 10.2. Merger, Consolidation, Etc. The Company will not, and will not permit any of the Subsidiary Guarantors to, merge or consolidate with or into any other Person or convey, transfer or lease all or substantially all of its assets in a single transaction or series of transactions to any Person except:

(a) any Subsidiary Guarantor may merge or consolidate with or into the Company or convey all or substantially all of its assets to the Company, provided that the Company is the continuing or surviving corporation and immediately prior to, and immediately after giving effect to, such transaction, no Default or Event of Default would exist;

(b) any Subsidiary Guarantor may merge or consolidate with or into another Subsidiary Guarantor or convey all or substantially all of its assets to such other Subsidiary Guarantor, provided, (i) that immediately prior to, and immediately after giving effect to, such transaction, no Default or Event of Default would exist, and (ii) immediately after giving effect to such transaction, the Company’s percentage of ownership interest in such surviving entity shall be equal to or greater than the Company’s ownership interest in the original Subsidiary Guarantor;

(c) the Company may merge or consolidate with any other Person if the Company is the surviving entity, and immediately after giving effect to such transaction, no Default or Event of Default would exist; and

(d) the Company may merge or consolidate with or into any other Person, or sell all or substantially all of its assets (in a single transaction or series of transactions), where the Company is not the surviving entity, if

(i) the surviving or acquiring Person (the “Successor Corporation”) is a solvent corporation, partnership, limited liability company or business trust organized and existing under the laws of the United States of America, any State thereof or the District of Columbia;

(ii) in the case of a sale of all or substantially all of the assets, the Successor Corporation shall have executed and delivered to each holder of any Notes its assumption of the due and punctual performance and observance of the obligations of the Company under this Agreement and the Notes, including, without limitation, all covenants herein and therein contained, pursuant to documents in form and substance reasonably satisfactory to the Required Holders, and the Company shall have caused to be delivered to each holder an opinion of independent counsel, to the effect that all agreements or instruments effecting such assumption are enforceable in accordance with their terms and comply with the terms hereof; and

(iii) immediately before and immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing.

-24-

No such conveyance, transfer or lease of substantially all of the assets of the transferor entity shall have the effect of releasing the transferor entity in the case of Section 10.2(c) but shall have the effect of releasing the transferor entity from its liability under this Agreement and the Notes in the case of Section 10.2(d).

Section 10.3. Line of Business. The Company will not and will not permit any Restricted Subsidiary to engage in any business or conduct any operations, except (i) in connection with or incidental to its present businesses and operations or complementary to such businesses or operations or (ii) in connection with businesses or operations that are not material to the Company and its Restricted Subsidiaries on a consolidated basis.

Section 10.4. Economic Sanctions Etc. The Company will not and will not permit any Controlled Entity to (a) become (including by virtue of being owned or controlled by a Blocked Person), own or control a Blocked Person or (b) directly or indirectly have any investment in or engage in any dealing or transaction (including any investment, dealing or transaction involving the proceeds of the Notes) with any Person if such investment, dealing or transaction (i) would cause any holder or any affiliate of such holder to be in violation of, or subject to sanctions under, any law or regulation applicable to such Purchaser or holder, or (ii) is prohibited by or subject to sanctions under any U.S. Economic Sanctions Laws.

Section 10.5. Liens. The Company will not, and will not permit any of its Restricted Subsidiaries to directly or indirectly create, incur, assume or permit to exist (upon the happening of a contingency or otherwise) any Lien securing Indebtedness for borrowed money on or with respect to any property or asset (including, without limitation, any document or instrument in respect of goods or accounts receivable) of the Company or any such Restricted Subsidiary, whether now owned or held or hereafter acquired, or any income or profits therefrom, and the Company covenants that in any such case it will make or cause to be made effective provision, whereby the Notes then outstanding shall be secured by such Liens equally and ratably with any and all other obligations and Indebtedness thereby secured pursuant to documentation (which shall be in a form comparable to and not materially more restrictive than such Liens) reasonably satisfactory to the Required Holders (such other secured obligations and Indebtedness being referred to as “Non-Priority Debt”), so long as any such other obligations or Indebtedness shall be so secured, except:

(a) Liens existing as of the date of this Agreement and described on Schedule 5.15;

(b) Any purchase money mortgage or Lien created to secure all or part of the purchase price of any property (or to secure a loan made to the Company or any Restricted Subsidiary to enable it to acquire the property described in such mortgage or in any applicable security agreement); provided that such Lien shall extend only to the property so acquired, improvements thereon, replacements thereof and the income or profits therefrom;

-25-

(c) Liens on any property at the time of the acquisition thereof, whether or not assumed by the Company or a Restricted Subsidiary; provided that such Lien shall extend only to the property so acquired, improvements thereon, replacements thereof and the income or profits therefrom;

(d) Liens on any property or any contract for the sale of any product or service, or any rights thereunder or any proceeds therefrom, acquired or constructed by the Company or a Restricted Subsidiary, and created not later than twelve months after (i) such acquisition or completion of such construction, or (ii) commencement of operation of such property, whichever is later; provided that such Lien shall extend only to the property so acquired or constructed, improvements thereon, replacements thereof and the income or profits therefrom;

(e) Liens on the properties or assets, real, personal or mixed, of a Restricted Subsidiary, or of or upon or in any income or profits therefrom, which is outstanding at the time such Restricted Subsidiary becomes a Restricted Subsidiary;

(f) Liens created or assumed by the Company or a Restricted Subsidiary on coal, geothermal, oil, natural gas, inert gas, other hydrocarbon or mineral properties owned or leased by the Company or a Restricted Subsidiary to secure loans to the Company or a Restricted Subsidiary for the purpose of developing such properties owned or leased by the Company or such Restricted Subsidiary;

(g) Liens on any investment of the Company or a Restricted Subsidiary in any Person other than a Restricted Subsidiary or any security representing any investment of the Company or a Restricted Subsidiary; for the purposes of this clause (g), “investment” means any equity investment in any Person, any obligation of any Person for money borrowed or for the deferred purchase price of property which is owed to the Company or a Restricted Subsidiary, as the case may be, and any amount advanced to any person by the Company or any Restricted Subsidiary, excluding, however, current accounts payable other than for cash advances;

(h) Any Lien not otherwise permitted by this Section 10.5 if, after giving effect to the creation or assumption of the Lien the sum of (i) all Indebtedness of the Company and its Restricted Subsidiaries secured by Liens not otherwise permitted by this Section 10.5, and (ii) to the extent not included in (i) above, all Attributable Indebtedness of the Company and its Restricted Subsidiaries does not exceed 10% of Consolidated Total Capitalization of the Restricted Group, provided that, notwithstanding the foregoing, no such Liens may secure any obligations under or pursuant to its Principal Bank Credit Agreement within the provisions of this Section 10.5(h) unless concurrently therewith the Company shall secure the Notes, or shall cause the Notes to be secured, equally and ratably with such obligations pursuant to documentation in form and substance reasonably satisfactory to the Required Holders;

(i) Any refunding or extension of maturity, in whole or in part, of any obligation or indebtedness secured by any Lien created, existing or assumed in

-26-

accordance with the provisions of clauses (a) through (g) above, inclusive, provided that the principal amount of the obligation or indebtedness secured by such refunding or extended Liens shall not exceed the principal amount of the obligation or indebtedness to be refunded or extended outstanding at the time of such refunding or extension, together with related financing costs, and that such refunding or extended Liens shall be limited in lien to the same property that secured the obligation or indebtedness refunded or extended, and property substituted therefor and property acquired after the date thereof and subject to the Lien thereof, in accordance with the provisions of such refunding or extension;

(j) Liens on any office equipment or data processing equipment (including, without limitation, computer and computer peripheral equipment) or any motor vehicles, tractors or trailers;

(k) Liens of or upon or in current assets of the Company or a Restricted Subsidiary, determined in accordance with GAAP, created or assumed to secure Indebtedness incurred in the ordinary course of business not to exceed at any time 5% of the consolidated Total Assets of the Company and its Restricted Subsidiaries;

(l) judgment Liens (other than as described in Section 11(j)) against the Company or any Restricted Subsidiary thereof in an aggregate amount not in excess of the greater of $60,000,000 or 10% of Consolidated Net Worth, or any such judgment Lien so long as the finality of such judgment is being contested and execution thereon is stayed and which has been appealed and secured, if necessary, by the filing of an appeal bond; and Liens for taxes or assessments for the current year or which are not due or which remain payable without penalty or which are being contested in good faith and against which an adequate reserve has been established;

(m) Any Lien arising by reason of deposits with or the giving of any form of security to any governmental agency or any body created or approved by law or governmental regulation for any purpose at any time in connection with the financing of the acquisition or construction of property to be used in the business of the Company or a Restricted Subsidiary, or as required by law or governmental regulation as a condition to the transaction of any business or the exercise of any privilege or license, or to permit the maintenance of self-insurance or participation in any fund for liability on any insurance risks or in connection with workmen’s compensation, unemployment insurance, old age pensions or other social security or to share in the privileges or benefits required for companies participating in such arrangements;

(n) Liens which are payable, both with respect to principal and interest, solely out of the proceeds of natural gas, oil, coal, geothermal resources, inert gas, hydrocarbons or minerals to be produced from the property subject thereto and to be sold or delivered by the Company or a Restricted Subsidiary;

(o) Liens to secure Indebtedness incurred to finance advances made by the Company or any Restricted Subsidiary to any third party for the purpose of financing oil,

-27-

natural gas, hydrocarbon, inert gas or other mineral exploration or development, provided that such liens shall extend only to the receivables of the Company or such Restricted Subsidiary in respect of such advances; and

(p) Liens which secure indebtedness of a Restricted Subsidiary to the Company or another Restricted Subsidiary.

Section 10.6. Debt to Capitalization Ratio. The Company will not permit, as of the end of each fiscal quarter of the Company, its Consolidated Indebtedness to exceed 70% of its Consolidated Total Capitalization.

Section 10.7. Priority Debt. The Company will not permit, as of the end of each fiscal quarter of the Company, Priority Debt to exceed 15% of consolidated Total Assets of the Company and its Restricted Subsidiaries.

Section 10.8. Restricted Subsidiaries. The Company will not at any time permit consolidated Total Assets of the Company and its Restricted Subsidiaries to be less than 70% of the consolidated Total Assets of the Company and its Subsidiaries.

SECTION 11.

EVENTS OF DEFAULT.

An “Event of Default” shall exist if any of the following conditions or events shall occur and be continuing:

(a) the Company defaults in the payment of any principal or Make-Whole Amount, if any, on any Note when the same becomes due and payable, whether at maturity or at a date fixed for prepayment or by declaration or otherwise; or

(b) the Company defaults in the payment of any interest on any Note for more than five Business Days after the same becomes due and payable; or

(c) the Company defaults in the performance of or compliance with any term contained in Section 7.1(d) or Section 10.2 and Sections 10.5 through 10.7, inclusive; or

(d) the Company or any Subsidiary Guarantor defaults in the performance of or compliance with any term contained herein (other than those referred to in Sections 11(a), (b) and (c)) or in any Subsidiary Guaranty and such default is not remedied within 30 days after the earlier of (i) a Responsible Officer obtaining actual knowledge of such default and (ii) the Company receiving written notice of such default from any holder of a Note (any such written notice to be identified as a “notice of default” and to refer specifically to this Section 11(d)); or

(e) (i) any representation or warranty made in writing by or on behalf of the Company or by any officer of the Company in this Agreement or in any writing furnished in connection with the transactions contemplated hereby proves to have been false or

-28-

incorrect in any material respect on the date as of which made, or (ii) any representation or warranty made in writing by or on behalf of any Subsidiary Guarantor or by any officer of such Subsidiary Guarantor in any Subsidiary Guaranty or any writing furnished in connection with such Subsidiary Guaranty proves to have been false or incorrect in any material respect on the date as of which made; or

(f) (i) the Company or any Significant Subsidiary is in default (as principal or as guarantor or other surety) in the payment of any principal of or premium or make-whole amount or interest on any Indebtedness (other than Indebtedness hereunder) that is outstanding in an aggregate principal amount in excess of the greater of $50,000,000 or 10% of Consolidated Net Worth beyond any period of grace provided with respect thereto, or (ii) the Company or any Significant Subsidiary is in default in the performance of or compliance with any term of any evidence of any Indebtedness in an aggregate outstanding principal amount in excess of the greater of $50,000,000 or 10% of Consolidated Net Worth or of any mortgage, indenture or other agreement relating thereto or any other condition exists, and as a consequence of such default or condition such Indebtedness has become, or has been declared due and payable before its stated maturity or before its regularly scheduled dates of payment; or

(g) the Company or any Significant Subsidiary (i) admits in writing its inability to pay, its debts as they become due, (ii) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy, for liquidation or to take advantage of any bankruptcy, insolvency, reorganization, moratorium or other similar law of any jurisdiction, (iii) makes an assignment for the benefit of its creditors, (iv) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers with respect to it or with respect to any substantial part of its property, (v) is adjudicated as insolvent or to be liquidated, or (vi) takes corporate action for the purpose of any of the foregoing; or

(h) a court or other Governmental Authority of competent jurisdiction enters an order appointing, without consent by the Company or any of its Significant Subsidiaries, a custodian, receiver, trustee or other officer with similar powers with respect to it or with respect to any substantial part of its property, or constituting an order for relief or approving a petition for relief or reorganization or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy or insolvency law of any jurisdiction, or ordering the dissolution, winding-up or liquidation of the Company or any of its Significant Subsidiaries, or any such petition shall be filed against the Company or any of its Significant Subsidiaries and such petition shall not be dismissed within 60 days; or

(i) a final judgment or judgments for the payment of money aggregating in excess of the greater of $75,000,000 or 15% of Consolidated Net Worth (to the extent not covered by an independent third party insurance company which is solvent and acknowledges in writing coverage for such judgment) are rendered against one or more of the Company and its Significant Subsidiaries and which judgments are not, within 60 days after entry thereof, bonded, discharged or appealed, or are not discharged within 60 days after the expiration of such stay; or

-29-

(j) if the Company or any ERISA Affiliate maintains or is otherwise obligated in respect of any Plan, (i) any Plan shall fail to satisfy the minimum funding standards of ERISA or the Code for any plan year or part thereof or a waiver of such standards or extension of any amortization period is sought or granted under section 412 of the Code, (ii) a notice of intent to terminate any Plan shall have been or is reasonably expected to be filed with the PBGC or the PBGC shall have instituted proceedings under ERISA section 4042 to terminate or appoint a trustee to administer any Plan or the PBGC shall have notified the Company or any ERISA Affiliate that a Plan may become a subject of any such proceedings, (iii) the aggregate “amount of unfunded benefit liabilities” (within the meaning of section 4001(a)(18) of ERISA) under all Plans, determined in accordance with Title IV of ERISA, shall exceed the greater of $100,000,000 or 20% of Consolidated Net Worth, (iv) the Company or any ERISA Affiliate shall have incurred or is reasonably expected to incur any liability pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans, (v) the Company or any ERISA Affiliate withdraws from any Multiemployer Plan, or (vi) the Company or any Subsidiary establishes or amends any employee welfare benefit plan that provides post-employment welfare benefits in a manner that would increase the liability of the Company or any Subsidiary thereunder; and any such event or events described in clauses (i) through (vi) above, either individually or together with any other such event or events, would reasonably be expected to have a Material Adverse Effect.

As used in Section 11(j), the terms “employee benefit plan” and “employee welfare benefit plan” shall have the respective meanings assigned to such terms in section 3 of ERISA; or

(k) any Subsidiary Guaranty shall cease to be in full force and effect, any Subsidiary Guarantor or any Person acting on behalf of any Subsidiary Guarantor shall contest in any manner the validity, binding nature or enforceability of any Subsidiary Guaranty, or the obligations of any Subsidiary Guarantor under any Subsidiary Guaranty are not or cease to be legal, valid, binding and enforceable in accordance with the terms of such Subsidiary Guaranty.

SECTION 12.

REMEDIES ON DEFAULT, ETC.

Section 12.1. Acceleration. (a) If an Event of Default with respect to the Company described in Section 11(g) or (h) (other than an Event of Default described in clause (i) of Section 11(g) or described in clause (vi) of Section 11(g) by virtue of the fact that such clause encompasses clause (i) of Section 11(g)) has occurred, all the Notes then outstanding shall automatically become immediately due and payable.

-30-

(b) If any other Event of Default has occurred and is continuing, the Required Holders may at any time at its or their option, by notice or notices to the Company, declare all the Notes then outstanding to be immediately due and payable.

(c) If any Event of Default described in Section 11(a) or (b) has occurred and is continuing, any holder or holders of Notes at the time outstanding affected by such Event of Default may at any time, at its or their option, by notice or notices to the Company, declare all the Notes held by it or them to be immediately due and payable.

Upon any Notes becoming due and payable under this Section 12.1, whether automatically or by declaration, such Notes will forthwith mature and the entire unpaid principal amount of such Notes, plus (x) all accrued and unpaid interest thereon (including, but not limited to, interest accrued thereon at the Default Rate) and (y) the Make-Whole Amount determined in respect of such principal amount (to the full extent permitted by applicable law), shall all be immediately due and payable, in each and every case without presentment, demand, protest or further notice, all of which are hereby waived. The Company acknowledges, and the parties hereto agree, that each holder of a Note has the right to maintain its investment in the Notes free from repayment by the Company (except as herein specifically provided for) and that the provision for payment of a Make-Whole Amount by the Company in the event that the Notes are prepaid or are accelerated as a result of an Event of Default, is intended to provide compensation for the deprivation of such right under such circumstances.

Section 12.2 Other Remedies. If any Default or Event of Default has occurred and is continuing, and irrespective of whether any Notes have become or have been declared immediately due and payable under Section 12.1, the holder of any Note at the time outstanding may proceed to protect and enforce the rights of such holder by an action at law, suit in equity or other appropriate proceeding, whether for the specific performance of any agreement contained herein or in any Note or Subsidiary Guaranty, or for an injunction against a violation of any of the terms hereof or thereof, or in aid of the exercise of any power granted hereby or thereby or by law or otherwise.

Section 12.3 Rescission. At any time after any Notes have been declared due and payable pursuant to Section 12.1(b) or (c), the Required Holders with respect to Section 12.1(b) or the holder or holders who have made such declaration with respect to an Event of Default under Section 12.1(c), by written notice to the Company, may rescind and annul any such declaration and its consequences if (a) the Company has paid all overdue interest on the Notes, all principal of and Make-Whole Amount, if any, on any Notes that are due and payable and are unpaid other than by reason of such declaration, and all interest on such overdue principal and Make-Whole Amount, if any, and (to the extent permitted by applicable law) any overdue interest in respect of the Notes, at the Default Rate, (b) neither the Company nor any other Person shall have paid any amounts which have become due solely by reason of such declaration, (c) all Events of Default and Defaults, other than non-payment of amounts that have become due solely by reason of such declaration, have been cured or have been waived pursuant to Section 17, and (d) no judgment or decree has been entered for the payment of any monies due pursuant hereto or to the Notes. No rescission and annulment under this Section 12.3 will extend to or affect any subsequent Event of Default or Default or impair any right consequent thereon.

-31-

Section 12.4 No Waivers or Election of Remedies, Expenses, Etc. No course of dealing and no delay on the part of any holder of any Note in exercising any right, power or remedy shall operate as a waiver thereof or otherwise prejudice such holder’s rights, powers or remedies. No right, power or remedy conferred by this Agreement, any Subsidiary Guaranty or any Note upon any holder thereof shall be exclusive of any other right, power or remedy referred to herein or therein or now or thereafter available at law, in equity, by statute or otherwise. Without limiting the obligations of the Company under Section 15, the Company will pay to the holder of each Note on demand such further amount as shall be sufficient to cover all reasonable costs and expenses of such holder incurred in any enforcement or collection under this Section 12, including, without limitation, reasonable attorneys’ fees, expenses and disbursements.

SECTION 13.

REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES.

Section 13.1. Registration of Notes. The Company shall keep at its principal executive office a register for the registration and registration of transfers of Notes. The name and address of each holder of one or more Notes, each transfer thereof and the name and address of each transferee of one or more Notes shall be registered in such register. If any holder of one or more Notes is a nominee, then (a) the name and address of the beneficial owner of such Note or Notes shall also be registered in such register as an owner and holder thereof and (b) at any such beneficial owner’s option, either such beneficial owner or its nominee may execute any amendment, waiver or consent pursuant to this Agreement. Prior to due presentment for registration of transfer and compliance with the transfer restrictions and procedures contained herein, the Person in whose name any Note shall be registered shall be deemed and treated as the owner and holder thereof for all purposes hereof, and the Company shall not be affected by any notice or knowledge to the contrary. The Company shall give to any holder of a Note that is an Institutional Investor promptly upon request therefor, a complete and correct copy of the names and addresses of all registered holders of Notes.

Section 13.2. Transfer and Exchange of Notes. Upon surrender of any Note to the Company at the address and to the attention of the designated officer (all as specified in Section 18(iii)), for registration of transfer or exchange (and in the case of a surrender for registration of transfer accompanied by a written instrument of transfer duly executed by the registered holder of such Note or such holder’s attorney duly authorized in writing and accompanied by the relevant name, address and other information for notices of each transferee of such Note or part thereof), within ten Business Days thereafter, the Company shall execute and deliver, at the Company’s expense (except as provided below), one or more new Notes of the same series (as requested by the holder thereof) in exchange therefor, in an aggregate principal amount equal to the unpaid principal amount of the surrendered Note. Each such new Note shall be payable to such Person as such holder may request and shall be substantially in the form of Exhibit 1 hereto, as applicable. Each such new Note shall be dated and bear interest from the date to which interest shall have been paid on the

-32-

surrendered Note or dated the date of the surrendered Note if no interest shall have been paid thereon. The Company may require payment of a sum sufficient to cover any stamp tax or governmental charge imposed in respect of any such transfer of Notes. Notes shall not be transferred in denominations of less than $100,000, provided that if necessary to enable the registration of transfer by a holder of its entire holding of Notes, one Note may be in a denomination of less than $100,000. Any transferee, by its acceptance of a Note registered in its name (or the name of its nominee), shall be deemed to have made the representation set forth in Section 6.1 (except for the first sentence thereof) and Section 6.2.

Section 13.3. Replacement of Notes. Upon receipt by the Company at the address and to the attention of the designated officer (all as specified in Section 18(iii)) of evidence reasonably satisfactory to it of the ownership of and the loss, theft, destruction or mutilation of any Note (which evidence shall be, in the case of an Institutional Investor, notice from such Institutional Investor of such ownership and such loss, theft, destruction or mutilation), and

(a) in the case of loss, theft or destruction, of indemnity and security reasonably satisfactory to it (provided that if the holder of such Note is, or is a nominee for, an original Purchaser or another holder of a Note with a minimum net worth of at least $100,000,000, such Person’s own unsecured agreement of indemnity shall be deemed to be satisfactory), or

(b) in the case of mutilation, upon surrender and cancellation thereof,

within ten Business Days thereafter, the Company at its own expense shall execute and deliver, in lieu thereof, a new Note of the same series, dated and bearing interest from the date to which interest shall have been paid on such lost, stolen, destroyed or mutilated Note or dated the date of such lost, stolen, destroyed or mutilated Note if no interest shall have been paid thereon.

SECTION 14.

PAYMENTS ON NOTES.

Section 14.1. Place of Payment. Subject to Section 14.2, payments of principal, Make-Whole Amount, if any, and interest becoming due and payable on the Notes shall be made at the principal office of Xxxxx Fargo Bank, N.A. in Minneapolis, Minnesota. The Company may at any time, by notice to each holder of a Note, change the place of payment of the Notes so long as such place of payment shall be either the principal office of the Company in Salt Lake City, Utah or the principal office of a bank or trust company in such jurisdiction.

Section 14.2. Home Office Payment. So long as any Purchaser or such Purchaser’s nominee shall be the holder of any Note, and notwithstanding anything contained in Section 14.1 or in such Note to the contrary, the Company will pay, or cause to be paid, all sums becoming due on such Note for principal, Make-Whole Amount, if any, and interest and all other amounts becoming due hereunder by the method and at the address specified for such purpose below such Purchaser’s name in Schedule A hereto or by such other method or at such other address as such Purchaser shall have from time to time

-33-

specified to the Company in writing for such purpose, without the presentation or surrender of such Note or the making of any notation thereon, except that upon written request of the Company made concurrently with or reasonably promptly after payment or prepayment in full of any Note, such Purchaser shall surrender such Note for cancellation, reasonably promptly after any such request, to the Company at its principal executive office or at the place of payment most recently designated by the Company pursuant to Section 14.1. Prior to any sale or other disposition of any Note held by any Purchaser or such Person’s nominee, such Person will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender such Note to the Company in exchange for a new Note or Notes of the same series pursuant to Section 13.2. The Company will afford the benefits of this Section 14.2 to any Institutional Investor that is the direct or indirect transferee of any Note purchased by a Purchaser under this Agreement and that has made the same agreement relating to such Note as the Purchasers have made in this Section 14.2 in compliance with Section 13.2.

SECTION 15.

EXPENSES, ETC.

Section 15.1. Transaction Expenses. Whether or not the transactions contemplated hereby are consummated, the Company will pay all reasonable costs and expenses (including reasonable attorneys’ fees of a special counsel for the Purchasers and, if reasonably required by the Required Holders, one local counsel) incurred by the Purchasers and each other holder of a Note in connection with such transactions and in connection with any amendments, waivers or consents under or in respect of this Agreement, any Subsidiary Guaranty or the Notes (whether or not such amendment, waiver or consent becomes effective), including, without limitation: (a) the costs and expenses incurred in enforcing or defending (or determining whether or how to enforce or defend) any rights under this Agreement, any Subsidiary Guaranty or the Notes or in responding to any subpoena or other legal process or informal investigative demand issued in connection with this Agreement, any Subsidiary Guaranty or the Notes, or by reason of being a holder of any Note, (b) the costs and expenses, including financial advisors’ fees, incurred in connection with the insolvency or bankruptcy of the Company or any Subsidiary or in connection with any work-out or restructuring of the transactions contemplated hereby and by the Notes and any Subsidiary Guaranty and (c) the costs and expenses incurred in connection with the initial filing of this Agreement and all related documents and financial information with the SVO, provided that such costs and expenses under this clause (c) shall not exceed $3,500 in the aggregate. If required by the NAIC, the Company shall obtain and maintain at its own cost and expense a Legal Entity Identifier (LEI). The Company will pay, and will save each Purchaser and each other holder of a Note harmless from, (i) all claims in respect of any fees, costs or expenses if any, of brokers and finders (other than those, if any, retained by a Purchaser or other holder in connection with its purchase of the Notes) (ii) any and all wire transfer fees that any bank or other financial institution deducts from any payment under such Note to such holder or otherwise charges to a holder of a Note with respect to a payment under such Note and (iii) any judgment, liability, claim, order, decree, fine, penalty, cost, fee, expense (including reasonable attorneys’ fees and expenses) or obligation resulting from the consummation of the transactions contemplated hereby, including the use of the proceeds of the Notes by the Company.

-34-

Section 15.2. Survival. The obligations of the Company under this Section 15 will survive the payment or transfer of any Note, the enforcement, amendment or waiver of any provision of this Agreement, any Subsidiary Guaranty or the Notes, and the termination of this Agreement.

SECTION 16.

SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT.

All representations and warranties contained herein shall survive the execution and delivery of this Agreement and the Notes, the purchase or transfer by any Purchaser of any Note or portion thereof or interest therein and the payment of any Note, and may be relied upon by any subsequent holder of a Note, regardless of any investigation made at any time by or on behalf of such Purchaser or any other holder of a Note and provided that is acknowledged that such representations and warranties shall only be deemed to be true as of the date they were made. All statements contained in any certificate or other instrument executed and delivered by or on behalf of the Company pursuant to this Agreement shall be deemed representations and warranties of the Company under this Agreement. Subject to the preceding sentence, this Agreement, the Notes and any Subsidiary Guaranties embody the entire agreement and understanding between each Purchaser and the Company and supersede all prior agreements and understandings relating to the subject matter hereof.

SECTION 17.

AMENDMENT AND WAIVER.

Section 17.1. Requirements. This Agreement and the Notes may be amended, and the observance of any term hereof or of the Notes may be waived (either retroactively or prospectively), with (and only with) the written consent of the Company and the Required Holders, except that (i) no amendment or waiver of any of the provisions of Section 1, 2, 3, 4, 5, 6 or 21 hereof, or any defined term (as it is used in any such Section), will be effective as to any holder of Notes unless consented to by such holder in writing, and (ii) no such amendment or waiver may, without the written consent of the holder of each Note at the time outstanding affected thereby, (A) subject to the provisions of Section 12 relating to acceleration or rescission, change the amount or time of any prepayment or payment of principal of, or reduce the rate or change the time of payment or method of computation of interest or of the Make-Whole Amount on, the Notes, (B) change the percentage of the principal amount of the Notes the holders of which are required to consent to any such amendment or waiver or the principal amount of the Notes that the Purchasers are to purchase pursuant to Section 2 upon the satisfaction of the conditions to Closing that appear in Section 4, or (C) amend any of Sections 8, 11(a), 11(b), 12, 17 or 20.

Section 17.2. Solicitation of Holders of Notes.

(a) Solicitation. The Company will provide each holder of the Notes (irrespective of the amount or series of Notes then owned by it) with sufficient information, sufficiently far in

-35-

advance of the date a decision is required, to enable such holder to make a reasonably informed and considered decision with respect to any proposed amendment, waiver or consent in respect of any of the provisions hereof or of the Notes or any Subsidiary Guaranty. The Company will deliver executed or true and correct copies of each amendment, waiver or consent effected pursuant to the provisions of this Section 17 or any Subsidiary Guaranty to each holder of outstanding Notes promptly following the date on which it is executed and delivered by, or receives the consent or approval of, the requisite holders of Notes.

(b) Payment. The Company will not directly or indirectly pay or cause to be paid any remuneration, whether by way of supplemental or additional interest, fee or otherwise, or grant any security or provide other credit support, to any holder of Notes as consideration for or as an inducement to the entering into by any holder of Notes of any waiver or amendment of any of the terms and provisions hereof or of any Subsidiary Guaranty or any Note unless such remuneration is concurrently paid, or security is concurrently granted or other credit support concurrently provided, on the same terms, ratably to each holder of Notes then outstanding even if such holder did not consent to such waiver or amendment.

(c) Consent in Contemplation of Transfer. Any consent made pursuant to this Section 17 or any Subsidiary Guaranty by the holder of any Note that has transferred or has agreed to transfer such Note to the Company, any of the Company’s Controlled Affiliates, the Parent or any Subsidiary of the Company or the Parent and has provided or has agreed to provide such written consent as a condition to such transfer shall be void and of no force or effect except solely as to such holder, and any amendments effected or waivers granted or to be effected or granted that would not have been or would not be so effected or granted but for such consent (and the consents of all other holders of Notes that were acquired under the same or similar conditions) shall be void and of no force or effect except solely as to such transferring holder.

Section 17.3. Binding Effect, Etc. Any amendment or waiver consented to as provided in this Section 17 or any Subsidiary Guaranty applies equally to all Purhcasers and holders of Notes and is binding upon them and upon each future holder of any Note and upon the Company without regard to whether such Note has been marked to indicate such amendment or waiver. No such amendment or waiver will extend to or affect any obligation, covenant, agreement, Default or Event of Default not expressly amended or waived or impair any right consequent thereon. No course of dealing between the Company and any holder of any Note nor any delay in exercising any rights hereunder or under any Note or Subsidiary Guaranty shall operate as a waiver of any rights of any holder of such Note. As used herein, the term “this Agreement” and references thereto shall mean this Agreement as it may from time to time be amended or supplemented.

Section 17.4. Notes Held by Company, Etc. Solely for the purpose of determining whether the holders of the requisite percentage of the aggregate principal amount of Notes then outstanding approved or consented to any amendment, waiver or consent to be given under this Agreement, any Subsidiary Guaranty or the Notes, or have directed the taking of any action provided herein or in any Subsidiary Guaranty the Notes to be taken upon the direction of the holders of a specified percentage of the aggregate principal amount of Notes then outstanding, Notes directly or indirectly owned by the Company, any of the Company’s Controlled Affiliates, the Parent or any Subsidiary of the Company or the Parent shall be deemed not to be outstanding.

-36-

SECTION 18.

NOTICES.

All notices and communications provided for hereunder shall be in writing and sent (a) by telecopy or email if the sender on the same day sends a confirming copy of such notice by a recognized overnight delivery service (charges prepaid), or (b) by registered or certified mail with return receipt requested (postage prepaid), or (c) by courier or a recognized overnight delivery service (with charges prepaid). Any such notice must be sent:

(i) if to any Purchaser or its nominee, to such Purchaser or nominee at the address specified for such communications in Schedule A, or at such other address as such Purchaser or nominee shall have specified to the Company in writing,

(ii) if to any other holder of any Note, to such holder at such address as such other holder shall have specified to the Company in writing, or

(iv) if to the Company, to the Company at its address set forth at the beginning hereof to the attention of the Treasurer, or at such other address as the Company shall have specified to the holder of each Note in writing.

Notices under this Section 18 will be deemed given only when actually received.

SECTION 19.

REPRODUCTION OF DOCUMENTS.

This Agreement and all documents relating thereto, including, without limitation, (a) consents, waivers and modifications that may hereafter be executed, (b) documents received by any Purchaser at the Closing (except the Notes themselves), and (c) financial statements, certificates and other information previously or hereafter furnished to any Purchaser, may be reproduced by such Purchaser by any photographic, photostatic, electronic, digital, or other similar process and such Purchaser may destroy any original document so reproduced. The Company agrees and stipulates that, to the extent permitted by applicable law, any such reproduction shall be admissible in evidence as the original itself in any judicial or administrative proceeding (whether or not the original is in existence and whether or not such reproduction was made by such Purchaser in the regular course of business) and any enlargement, facsimile or further reproduction of such reproduction shall likewise be admissible in evidence. This Section 19 shall not prohibit the Company or any other holder of Notes from contesting any such reproduction to the same extent that it could contest the original, or from introducing evidence to demonstrate the inaccuracy of any such reproduction.

-37-

SECTION 20.

CONFIDENTIAL INFORMATION.

For the purposes of this Section 20, “Confidential Information” means information delivered to any Purchaser by or on behalf of the Company or any Subsidiary in connection with the transactions contemplated by or otherwise pursuant to this Agreement, provided that such term does not include information that (a) was publicly known or otherwise known to such Purchaser prior to the time of such disclosure on a non-confidential basis through means other than the Company, (b) subsequently becomes publicly known through no act or omission by such Purchaser or any person acting on such Purchaser’s behalf, (c) otherwise becomes known to such Purchaser other than through disclosure by the Company or any Subsidiary or (d) constitutes financial statements delivered to such Purchaser under Section 7.1 that are otherwise publicly available. Each Purchaser will maintain the confidentiality of such Confidential Information in accordance with procedures adopted by such Purchaser in good faith to protect confidential information of third parties delivered to such Purchaser, provided that such Purchaser may deliver or disclose Confidential Information to (i) its directors, trustees, officers, employees, agents, attorneys and affiliates (to the extent such disclosure reasonably relates to the administration of the investment represented by its Notes), (ii) its financial advisors and other professional advisors who agree to hold confidential the Confidential Information substantially in accordance with the terms of this Section 20, (iii) any other holder of any Note, (iv) any Institutional Investor to which it sells or offers to sell such Note or any part thereof or any participation therein (if such Person has agreed in writing prior to its receipt of such Confidential Information to be bound by the provisions of this Section 20), (v) any Person from which it offers to purchase any security of the Company (if such Person has agreed in writing prior to its receipt of such Confidential Information to be bound by the provisions of this Section 20), (vi) any federal or state regulatory authority having jurisdiction over such Purchaser, (vii) the NAIC or the SVO or, in each case, any similar organization, or any nationally recognized rating agency that requires access to information about such Purchaser’s investment portfolio, or (viii) any other Person to which such delivery or disclosure may be necessary or appropriate (w) to effect compliance with any law, rule, regulation or order applicable to such Purchaser, (x) in response to any subpoena or other legal process, (y) in connection with any litigation to which such Purchaser is a party or (z) if an Event of Default has occurred and is continuing, to the extent such Purchaser may reasonably determine such delivery and disclosure to be necessary or appropriate in the enforcement or for the protection of the rights and remedies under such Purchaser’s Notes, this Agreement or any Subsidiary Guaranty. Each holder of a Note, by its acceptance of a Note, will be deemed to have agreed to be bound by and to be entitled to the benefits of this Section 20 as though it were a party to this Agreement. On reasonable request by the Company in connection with the delivery to any holder of a Note of information required to be delivered to such holder under this Agreement or requested by such holder (other than a holder that is a party to this Agreement or its nominee), such holder will enter into an agreement with the Company embodying the provisions of this Section 20.

In the event that as a condition to receiving access to information relating to the Company or its Subsidiaries in connection with the transactions contemplated by or otherwise pursuant to this Agreement, any Purchaser or holder of a Note is required to agree to a confidentiality undertaking (whether through IntraLinks, another secure website, a secure virtual

-38-

workspace or otherwise) which is different from this Section 20, this Section 20 shall not be amended thereby and, as between such Purchaser or such holder and the Company, this Section 20 shall supersede any such other confidentiality undertaking.

SECTION 21.

SUBSTITUTION OF PURCHASER.

Each Purchaser shall have the right to substitute any one of its Affiliates or another Purchaser or any one of such other Purchaser’s Affiliates (a “Substitute Purchaser”) as the purchaser of the Notes that it has agreed to purchase hereunder, by written notice to the Company, which notice shall be signed by both such Purchaser and such Substitute Purchaser, shall contain such Substitute Purchaser’s agreement to be bound by this Agreement and shall contain a confirmation by such Substitute Purchaser of the accuracy with respect to it of the representations set forth in Section 6. Upon receipt of such notice, any reference to such Purchaser in this Agreement (other than in this Section 21), shall be deemed to refer to such Substitute Purchaser in lieu of such original Purchaser. In the event that such Substitute Purchaser is so substituted as a Purchaser hereunder and such Substitute Purchaser thereafter transfers to such original Purchaser all of the Notes then held by such Substitute Purchaser, upon receipt by the Company of notice of such transfer, any reference to such Substitute Purchaser as a “Purchaser” in this Agreement (other than in this Section 21), shall no longer be deemed to refer to such Substitute Purchaser, but shall refer to such original Purchaser, and such original Purchaser shall again have all the rights of an original holder of the Notes under this Agreement.

SECTION 22.

MISCELLANEOUS.

Section 22.1. Successors and Assigns. All covenants and other agreements contained in this Agreement by or on behalf of any of the parties hereto bind and inure to the benefit of their respective successors and permitted assigns (including, without limitation, any subsequent holder of a Note) whether so expressed or not, except that, subject to Section 10.2, the Company may not assign or otherwise transfer any of its rights or obligations hereunder or under the Notes without the prior written consent of each holder. Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto and their respective successors and assigns permitted hereby) any legal or equitable right, remedy or claim under or by reason of this Agreement.

Section 22.2. Payments Due on Non-Business Days. Anything in this Agreement or the Notes to the contrary notwithstanding (but without limiting the requirement in Section 8.4 that the notice of any optional prepayment specify a Business Day as the date fixed for such prepayment), any payment of principal of or Make-Whole Amount or interest on any Note that is due on a date other than a Business Day shall be made on the next succeeding Business Day without including the additional days elapsed in the computation of the interest payable on such next succeeding Business Day; provided that if the maturity date of any Note is a date other than a Business Day, the payment otherwise due on such maturity date shall be made on the next succeeding Business Day and shall include the additional days elapsed in the computation of interest payable on such next succeeding Business Day.

-39-

Section 22.3. Accounting Terms. All accounting terms used herein which are not expressly defined in this Agreement have the meanings respectively given to them in accordance with GAAP. Except as otherwise specifically provided herein, (i) all computations made pursuant to this Agreement shall be made in accordance with GAAP, and (ii) all financial statements shall be prepared in accordance with GAAP. For purposes of determining compliance with the financial covenants contained in this Agreement (including Section 9, Section 10 and the definition of “Indebtedness”), any election by the Company to measure any financial liability using fair value (as permitted by Financial Accounting Standards Board Accounting Standards Codification Topic No. 000-00-00 – Fair Value Option International Accounting Standard 39 – Financial Instruments: Recognition and Measurement or any similar accounting standard) shall be disregarded and such determination shall be made as if such election has not been made. If at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in this Agreement, and either the Company or the Required Holders shall so request, the Required Holders and the Company shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP (subject to the approval of the Required Holders); provided that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and (ii) the Company shall provide to the Required Holders financial statements and other documents required under this Agreement or as reasonably requested a written reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP.

Section 22.4. Severability. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall (to the full extent permitted by law) not invalidate or render unenforceable such provision in any other jurisdiction.

Section 22.5. Construction, Etc. Each covenant contained herein shall be construed (absent express provision to the contrary) as being independent of each other covenant contained herein, so that compliance with any one covenant shall not (absent such an express contrary provision) be deemed to excuse compliance with any other covenant. Where any provision herein refers to action to be taken by any Person, or which such Person is prohibited from taking, such provision shall be applicable whether such action is taken directly or indirectly by such Person.

Defined terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise (a) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein) and, for purposes of the Notes, shall also include

-40-

any such notes issued in substitution therefor pursuant to Section 13, (b) subject to Section 22.1, any reference herein to any Person shall be construed to include such Person’s successors and assigns, (c) the words “herein,” “hereof” and “hereunder,” and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d) all references herein to Sections and Schedules shall be construed to refer to Sections of, and Schedules to, this Agreement, and (e) any reference to any law or regulation herein shall, unless otherwise specified, refer to such law or regulation as amended, modified or supplemented from time to time. All Schedules and Exhibits attached to this Agreement shall be deemed to be a part hereof.

Section 22.6. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be an original but all of which together shall constitute one instrument. Each counterpart may consist of a number of copies hereof, each signed by less than all, but together signed by all, of the parties hereto.

Section 22.7. Governing Law. This Agreement shall be construed and enforced in accordance with, and the rights of the parties shall be governed by, the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other than such State.

Section 22.8. Jurisdiction and Process; Waiver of Jury Trial. (a) Each Purchaser and the Company irrevocably submits to the non-exclusive jurisdiction of any New York State or federal court sitting in the Borough of Manhattan, The City of New York, over any suit, action or proceeding arising out of or relating to this Agreement or the Notes. To the fullest extent permitted by applicable law, each Purchaser and the Company irrevocably waives and agrees not to assert, by way of motion, as a defense or otherwise, any claim that it is not subject to the jurisdiction of any such court, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum.

(b) The Company and Purchasers agree, to the fullest extent permitted by applicable law, that a final judgment in any suit, action or proceeding of the nature referred to in Section 22.7(a) brought in any such court shall be conclusive and binding upon them subject to rights of appeal, as the case may be, and may be enforced in the courts of the United States of America or the State of New York (or any other courts to the jurisdiction of which they or any of their assets are or may be subject) by a suit upon such judgment.

(c) Each Purchaser and the Company consents to process being served by or on behalf of any holder of Notes in any suit, action or proceeding of the nature referred to in Section 22.8(a) by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, return receipt requested, to it at its address specified in Section 18 or at such other address of which such holder shall then have been notified pursuant to said Section. Each Purchaser and the Company agrees that such service upon receipt (i) shall be deemed in every respect effective service of process upon it in any such suit, action or

-41-

proceeding and (ii) shall, to the fullest extent permitted by applicable law, be taken and held to be valid personal service upon and personal delivery to it. Notices hereunder shall be conclusively presumed received as evidenced by a delivery receipt furnished by the United States Postal Service or any reputable commercial delivery service.

(c) Nothing in this Section 22.8 shall affect the right of the Company or any holder of a Note to serve process in any manner permitted by law, or limit any right that the Company or the holders of any of the Notes may have to bring proceedings against the other party in the courts of any appropriate jurisdiction or to enforce in any lawful manner a judgment obtained in one jurisdiction in any other jurisdiction.

(d) THE PARTIES HERETO HEREBY WAIVE TRIAL BY JURY IN ANY ACTION BROUGHT ON OR WITH RESPECT TO THIS AGREEMENT, THE NOTES OR ANY OTHER DOCUMENT EXECUTED IN CONNECTION HEREWITH OR THEREWITH.

* * * * *

-42-

If you are in agreement with the foregoing, please sign the form of agreement on a counterpart of this Agreement and return it to the Company, whereupon this Agreement shall become a binding agreement between you and the Company.


Very truly yours,

QUESTAR GAS COMPANY

By	/s/ Xxxxx X. Xxxxxxxx
	Name:	Xxxxx X. Xxxxxxxx
	Title:	President

This Agreement is hereby

accepted and agreed to as

of the date thereof.


METROPOLITAN LIFE INSURANCE COMPANY

By	/s/ Xxxx X. Xxxxxxx
	Name:	Xxxx X. Xxxxxxx
	Title:	Managing Director

METLIFE INSURANCE K.K. by MetLife Investment Advisors, LLC, Its Investment Manager

By	/s/ Xxxxxx X. Xxxxxxx
	Name:	Xxxxxx X. Xxxxxxx
	Title:	Managing Director

This Agreement is hereby

accepted and agreed to as

of the date thereof.


PACIFIC LIFE INSURANCE COMPANY

By	/s/ Xxxxxx Xxxxxxxxx
	Name:	Xxxxxx Xxxxxxxxx
	Title:	Assistant Vice President

By	/s/ Xxxxxxx X. Xxxxxx
	Name:	Xxxxxxx X. Xxxxxx
	Title:	Assistant Secretary

This Agreement is hereby

accepted and agreed to as

of the date thereof.


XXXX XXXXXXX LIFE INSURANCE COMPANY (U.S.A.)

By	/s/ Xxxxxxx Xxxxxxxxxxx
	Name:	Xxxxxxx Xxxxxxxxxxx
	Title:	Managing Director

This Agreement is hereby

accepted and agreed to as

of the date thereof.


NEW YORK LIFE INSURANCE COMPANY

By	/s/ Xxxxxxx X. Xxxxxx
	Name:	Xxxxxxx X. Xxxxxx
	Title:	Corporate Vice President

NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION

By: NYL Investors LLC, its Investment Manager

By	/s/ Xxxxxxx X. Xxxxxx
	Name:	Xxxxxxx X. Xxxxxx
	Title:	Senior Director

This Agreement is hereby

accepted and agreed to as

of the date thereof.


VOYA INSURANCE AND ANNUITY COMPANY
VOYA RETIREMENT INSURANCE AND ANNUITY COMPANY
RELIASTAR LIFE INSURANCE COMPANY
SECURITY LIFE OF DENVER INSURANCE COMPANY

By: Voya Investment Management LLC, as Agent

By	/s/ Xxxx Xxxxxxx
	Name:	Xxxx Xxxxxxx
	Title:	Senior Vice President

This Agreement is hereby

accepted and agreed to as

of the date thereof.


GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY

By	/s/ Xxx Xxxxxxx
	Name:	Xxx Xxxxxxx
	Title:	Vice President, Investments

By	/s/ Xxxx Xxxxxx
	Name:	Xxxx Xxxxxx
	Title:	Assistant Vice President, Investments

This Agreement is hereby

accepted and agreed to as

of the date thereof.


AMERICAN EQUITY INVESTMENT LIFE INSURANCE COMPANY

By	/s/ Xxxxxxx X. Xxxxxxx
	Name:	Xxxxxxx X. Xxxxxxx
	Title:	Authorized Signatory

This Agreement is hereby

accepted and agreed to as

of the date thereof.


GENWORTH LIFE INSURANCE COMPANY

By	/s/ Xxxxxxx XxXxxxx
	Name:	Xxxxxxx XxXxxxx
	Title:	Investment Officer

This Agreement is hereby

accepted and agreed to as

of the date thereof.


CMFG LIFE INSURANCE COMPANY

By:	MEMBERS Capital Advisors, Inc.
	acting as Investment Advisor

	By	/s/ Xxxx Xxxxxxxx
	Name:	Xxxx Xxxxxxxx
	Title:	Managing Director, Investments

This Agreement is hereby

accepted and agreed to as

of the date thereof.


THE STATE LIFE INSURANCE COMPANY

By:		American United Life Insurance Company
Its:		Agent

/s/ Xxxxx X. Xxxxxxxxxxxx
Name:		Xxxxx X. Xxxxxxxxxxxx
Title:		VP, Fixed Income Securities

PIONEER MUTUAL LIFE INSURANCE COMPANY

By:		American United Life Insurance Company
Its:		Agent

/s/ Xxxxx X. Xxxxxxxxxxxx
Name:		Xxxxx X. Xxxxxxxxxxxx
Title:		VP, Fixed Income Securities

This Agreement is hereby

accepted and agreed to as

of the date thereof.


UNITED OF OMAHA LIFE INSURANCE COMPANY

By	/s/ Xxx Xxxxxx
	Name:	Xxx Xxxxxx
	Title:	Vice President

This Agreement is hereby

accepted and agreed to as

of the date thereof.


MONY LIFE INSURANCE COMPANY (MNYCLO)

By	/s/ Xxxxxx X. Xxxxxxxxxx
	Name:	Xxxxxx X. Xxxxxxxxxx
	Title:	Director, Fixed Income

INFORMATION RELATING TO PURCHASERS


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

METROPOLITAN LIFE INSURANCE COMPANY 0000 Xxxxxx xx xxx Xxxxxxxx Xxx Xxxx, Xxx Xxxx 00000		$500,000 Series A

(Securities to be registered in the name of Metropolitan Life Insurance Company)

(1) All scheduled payments of principal and interest by wire transfer of immediately available funds to:


Bank Name:		JPMorgan Chase Bank
ABA Routing #:
Account No.:
Account Name:
Ref:

with sufficient information to identify the source and application of such funds, including issuer, PPN#, interest rate, maturity and whether payment is of principal, interest, make whole amount or otherwise.

For all payments other than scheduled payments of principal and interest, the Company shall seek instructions from the holder, and in the absence of instructions to the contrary, will make such payments to the account and in the manner set forth above.

(2) All notices and communications:

Metropolitan Life Insurance Company

Investments, Private Placements

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

Emails:

With a copy OTHER than with respect to deliveries of financial statements to:

Metropolitan Life Insurance Company

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

Email:

SCHEDULE A

(to Note Purchase Agreement)

(3) Original notes delivered to:

Metropolitan Life Insurance Company

Investments Law

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

(4) Taxpayer I.D. Number:

(5) UK Passport Treaty Number:


Audit Requests: Soft copy to		or hard copy to:

Metropolitan Life Insurance Company, Attn: Private Placements Operations (ATTN: Audit Confirmations), 00000 Xxxxx Xxxx Xxxxx – 5^th Floor, Xxxxx, XX 00000

A-2


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

METLIFE INSURANCE K.K. 0-0-0, Xxxxxx, Xxxxxx-xx Xxxxx, 000-0000 XXXXX		$700,000 Series A

(Securities to be registered in the name of MetLife Insurance K.K.)

(1) All scheduled payments of principal and interest by wire transfer of immediately available funds to:


Bank Name:		Citibank New York
ABA Routing #:
DDA:
Account Name:
Ref:

(2) All notices and communications:

Alico Asset Management Corp. (Japan)

Administration Department

XXXX Xxxx 0X, 0-0-0 Xxxxxx

Xxxxxx-xx, Xxxxx 000-0000 Xxxxx

Attention:

Email:

With a copy to:

MetLife Insurance K.K.

c/o MetLife Investment Advisors, LLC

Investments, Private Placements

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

Emails:

A-3

With a copy OTHER than with respect to deliveries of financial statements to:

MetLife Insurance K.K.

c/o MetLife Investment Advisors, LLC

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

Email:

(3) Original notes delivered to:

MetLife Insurance K.K.

c/o MetLife Investment Advisors, LLC

Investments Law

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

(4) Taxpayer I.D. Number:

(5) UK Passport Treaty Number:


Audit Requests:		Soft copy to		or hard copy to:

Metropolitan Life Insurance Company, Attn: Private Placements Operations (ATTN: Audit Confirmations), 00000 Xxxxx Xxxx Xxxxx – 5^th Floor, Xxxxx, XX 00000

A-4


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

METLIFE INSURANCE K.K. 0-0-0, Xxxxxx, Xxxxxx-xx Xxxxx, 000-0000 XXXXX		$600,000 Series A

(Securities to be registered in the name of MetLife Insurance K.K.)

(1) All scheduled payments of principal and interest by wire transfer of immediately available funds to:


Bank Name:		JPMorgan Chase Bank N.A., New York
BIC:
Acct No.:
Acct Name:
Ref:

(2) All notices and communications:

Alico Asset Management Corp. (Japan)

Administration Department

XXXX Xxxx 0X, 0-0-0 Xxxxxx

Xxxxxx-xx, Xxxxx 000-0000 Xxxxx

Attention:

Email:

With a copy to:

MetLife Insurance K.K.

c/o MetLife Investment Advisors, LLC

Investments, Private Placements

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

Emails:

A-5

With a copy OTHER than with respect to deliveries of financial statements to:

MetLife Insurance K.K.

c/o MetLife Investment Advisors, LLC

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

Email:

(3) Original notes delivered to:

MetLife Insurance K.K.

c/o MetLife Investment Advisors, LLC

Investments Law

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

(4) Taxpayer I.D. Number:

(5) UK Passport Treaty Number:


Audit Requests:		Soft copy to		or hard copy to:

Metropolitan Life Insurance Company, Attn: Private Placements Operations (ATTN: Audit Confirmations), 00000 Xxxxx Xxxx Xxxxx – 5^th Floor, Xxxxx, XX 00000

A-6


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

METLIFE INSURANCE K.K. 0-0-0, Xxxxxx, Xxxxxx-xx Xxxxx, 000-0000 XXXXX		$1,700,000 Series A

(Securities to be registered in the name of MetLife Insurance K.K.)

(1) All scheduled payments of principal and interest by wire transfer of immediately available funds to:


Bank Name:		Citibank New York
		000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 (XXX)
ABA Routing #:
Acct No./DDA:
Acct Name:
Ref:

(2) All notices and communications:

Alico Asset Management Corp. (Japan)

Administration Department

XXXX Xxxx 0X, 0-0-0 Xxxxxx

Xxxxxx-xx, Xxxxx 000-0000 Xxxxx

Attention:

Email:

With a copy to:

MetLife Insurance K.K.

c/o MetLife Investment Advisors, LLC

Investments, Private Placements

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

Emails:

A-7

With a copy OTHER than with respect to deliveries of financial statements to:

MetLife Insurance K.K.

c/o MetLife Investment Advisors, LLC

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

Email:

(3) Original notes delivered to:

MetLife Insurance K.K.

c/o MetLife Investment Advisors, LLC

Investments Law

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

(4) Taxpayer I.D. Number:

(5) UK Passport Treaty Number:


Audit Requests:		Soft copy to		or hard copy to:

Metropolitan Life Insurance Company, Attn: Private Placements Operations (ATTN: Audit Confirmations), 00000 Xxxxx Xxxx Xxxxx – 5^th Floor, Xxxxx, XX 00000

A-8


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

METLIFE INSURANCE K.K. 0-0-0, Xxxxxx, Xxxxxx-xx Xxxxx, 000-0000 XXXXX		$500,000 Series A

(Securities to be registered in the name of MetLife Insurance K.K.)

(1) All scheduled payments of principal and interest by wire transfer of immediately available funds to:


Bank Name:		JPMorgan Chase Bank N.A., New York
BIC:
Acct No.:
Acct Name:
Ref:

(2) All notices and communications:

Alico Asset Management Corp. (Japan)

Administration Department

XXXX Xxxx 0X, 0-0-0 Xxxxxx

Xxxxxx-xx, Xxxxx 000-0000 Xxxxx

Attention:

Email:

With a copy to:

MetLife Insurance K.K.

c/o MetLife Investment Advisors, LLC

Investments, Private Placements

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

Emails:

A-9

With a copy OTHER than with respect to deliveries of financial statements to:

MetLife Insurance K.K.

c/o MetLife Investment Advisors, LLC

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

Email:

(3) Original notes delivered to:

MetLife Insurance K.K.

c/o MetLife Investment Advisors, LLC

Investments Law

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

(4) Taxpayer I.D. Number:

(5) UK Passport Treaty Number:


Audit Requests:		Soft copy to		or hard copy to:

Metropolitan Life Insurance Company, Attn: Private Placements Operations (ATTN: Audit Confirmations), 00000 Xxxxx Xxxx Xxxxx – 5^th Floor, Xxxxx, XX 00000

A-10


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

METROPOLITAN LIFE INSURANCE COMPANY 0000 Xxxxxx xx xxx Xxxxxxxx Xxx Xxxx, Xxx Xxxx 00000		$1,300,000 Series B

(Securities to be registered in the name of Metropolitan Life Insurance Company)

(1) All scheduled payments of principal and interest by wire transfer of immediately available funds to:


Bank Name:		JPMorgan Chase Bank
ABA Routing #:
Account No.:
Account Name:
Ref:

(2) All notices and communications:

Metropolitan Life Insurance Company

Investments, Private Placements

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

Emails:

With a copy OTHER than with respect to deliveries of financial statements to:

Metropolitan Life Insurance Company

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

Email:

A-11

(3) Original notes delivered to:

Metropolitan Life Insurance Company

Investments Law

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

(4) Taxpayer I.D. Number:

(5) UK Passport Treaty Number:


Audit Requests:		Soft copy to		or hard copy to:

Metropolitan Life Insurance Company, Attn: Private Placements Operations (ATTN: Audit Confirmations), 00000 Xxxxx Xxxx Xxxxx – 5^th Floor, Xxxxx, XX 00000

A-12


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

METLIFE INSURANCE K.K. 0-0-0, Xxxxxx, Xxxxxx-xx Xxxxx, 000-0000 XXXXX		$2,200,000 Series B

(Securities to be registered in the name of MetLife Insurance K.K.)

(1) All scheduled payments of principal and interest by wire transfer of immediately available funds to:


Bank Name:		Citibank New York
ABA Routing #:
DDA:
Account Name:
Ref:

(2) All notices and communications:

Alico Asset Management Corp. (Japan)

Administration Department

XXXX Xxxx 0X, 0-0-0 Xxxxxx

Xxxxxx-xx, Xxxxx 000-0000 Xxxxx

Attention:

Email:

With a copy to:

MetLife Insurance K.K.

c/o MetLife Investment Advisors, LLC

Investments, Private Placements

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention

Emails:

A-13

With a copy OTHER than with respect to deliveries of financial statements to:

MetLife Insurance K.K.

c/o MetLife Investment Advisors, LLC

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

Email:

(3) Original notes delivered to:

MetLife Insurance K.K.

c/o MetLife Investment Advisors, LLC

Investments Law

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

(4) Taxpayer I.D. Number:

(5) UK Passport Treaty Number:


Audit Requests:		Soft copy to		or hard copy to:

Metropolitan Life Insurance Company, Attn: Private Placements Operations (ATTN: Audit Confirmations), 00000 Xxxxx Xxxx Xxxxx – 5^th Floor, Xxxxx, XX 00000

A-14


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

METLIFE INSURANCE K.K. 0-0-0, Xxxxxx, Xxxxxx-xx Xxxxx, 000-0000 XXXXX		$1,700,000 Series B

(Securities to be registered in the name of MetLife Insurance K.K.)

(1) All scheduled payments of principal and interest by wire transfer of immediately available funds to:


Bank Name:		JPMorgan Chase Bank N.A., New York
BIC:
Acct No.:
Acct Name:
Ref:

(2) All notices and communications:

Alico Asset Management Corp. (Japan)

Administration Department

XXXX Xxxx 0X, 0-0-0 Xxxxxx

Xxxxxx-xx, Xxxxx 000-0000 Xxxxx

Attention:

Email:

With a copy to:

MetLife Insurance K.K.

c/o MetLife Investment Advisors, LLC

Investments, Private Placements

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

Emails:

A-15

With a copy OTHER than with respect to deliveries of financial statements to:

MetLife Insurance K.K.

c/o MetLife Investment Advisors, LLC

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

Email:

(3) Original notes delivered to:

MetLife Insurance K.K.

c/o MetLife Investment Advisors, LLC

Investments Law

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

(4) Taxpayer I.D. Number:

(5) UK Passport Treaty Number:


Audit Requests:		Soft copy to		or hard copy to:

Metropolitan Life Insurance Company, Attn: Private Placements Operations (ATTN: Audit Confirmations), 00000 Xxxxx Xxxx Xxxxx – 5^th Floor, Xxxxx, XX 00000

A-16


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

METLIFE INSURANCE K.K. 0-0-0, Xxxxxx, Xxxxxx-xx Xxxxx, 000-0000 XXXXX		$6,000,000 Series B

(Securities to be registered in the name of MetLife Insurance K.K.)

(1) All scheduled payments of principal and interest by wire transfer of immediately available funds to:


Bank Name:		Citibank New York
		000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 (XXX)
ABA Routing #:
Acct No./DDA:
Acct Name:
Ref:

(2) All notices and communications:

Alico Asset Management Corp. (Japan)

Administration Department

XXXX Xxxx 0X, 0-0-0 Xxxxxx

Xxxxxx-xx, Xxxxx 000-0000 Xxxxx

Attention:

Email:

With a copy to:

MetLife Insurance K.K.

c/o MetLife Investment Advisors, LLC

Investments, Private Placements

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

Emails:

A-17

With a copy OTHER than with respect to deliveries of financial statements to:

MetLife Insurance K.K.

c/o MetLife Investment Advisors, LLC

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

Email:

(3) Original notes delivered to:

MetLife Insurance K.K.

c/o MetLife Investment Advisors, LLC

Investments Law

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

(4) Taxpayer I.D. Number:

(5) UK Passport Treaty Number:


Audit Requests: Soft copy to		or hard copy to:

Metropolitan Life Insurance Company, Attn: Private Placements Operations (ATTN: Audit Confirmations), 00000 Xxxxx Xxxx Xxxxx – 5^th Floor, Xxxxx, XX 00000

A-18


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

METLIFE INSURANCE K.K. 0-0-0, Xxxxxx, Xxxxxx-xx Xxxxx, 000-0000 XXXXX		$800,000 Series B

(Securities to be registered in the name of MetLife Insurance K.K.)

(1) All scheduled payments of principal and interest by wire transfer of immediately available funds to:


Bank Name:		JPMorgan Chase Bank N.A., New York
BIC:
Acct No.:
Acct Name:
Ref:

(2) All notices and communications:

Alico Asset Management Corp. (Japan)

Administration Department

XXXX Xxxx 0X, 0-0-0 Xxxxxx

Xxxxxx-xx, Xxxxx 000-0000 Xxxxx

Attention:

Email:

With a copy to:

MetLife Insurance K.K.

c/o MetLife Investment Advisors, LLC

Investments, Private Placements

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

Emails:

A-19

With a copy OTHER than with respect to deliveries of financial statements to:

MetLife Insurance K.K.

c/o MetLife Investment Advisors, LLC

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

Email:

(3) Original notes delivered to:

MetLife Insurance K.K.

c/o MetLife Investment Advisors, LLC

Investments Law

Xxx XxxXxxx Xxx

Xxxxxxxx, Xxx Xxxxxx 00000

Attention:

(4) Taxpayer I.D. Number:

(5) UK Passport Treaty Number:


Audit Requests: Soft copy to		or hard copy to:

Metropolitan Life Insurance Company, Attn: Private Placements Operations (ATTN: Audit Confirmations), 00000 Xxxxx Xxxx Xxxxx – 5^th Floor, Xxxxx, XX 00000

A-20


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

PACIFIC LIFE INSURANCE COMPANY		$5,000,000 Series A $5,000,000 Series A $1,000,000 Series A $1,000,000 Series A

Notes to be registered: Mac & Co., as nominee for Pacific Life Insurance Company

[see attached]

A-21


PACIFIC LIFE INSURANCE COMPANY


Delivery/Registration Instructions
Account Information:
Nominee Name:		Mac & Co
Tax ID#:		[redact]

Please include all information to ensure proper delivery of certificates and P & I.

For Physical Delivery of Certificates:

The Depository Trust Company

Attn: BNY Mellon/Branch Deposit Department

000 Xxxxxxxxxx Xxxx – 0xx Xxxxx

Xxxxxx Xxxx, XX 00000


Account Name:		PACIFIC LIFE INS CO - GENERAL ACCOUNT
Account Number:		5966218400

For Payment of Principal & Interest:

Bank: The Bank of New York Mellon

ABA: 000000000

Acct Number: GLA 111566

Acct Name: The Bank of New York Mellon – P&I Dept

FFC: Account 5966218400 - PACIFIC LIFE INS CO - GENERAL ACCOUNT

** Include CUSIP, security description and P&I breakdown. **

All notices of payments and written confirmations of such wire transfers to:

The Bank of New York Mellon

Attn: Pacific Life Accounting Team

Xxx Xxxxxx Xxxx Xxxxxx

Xxxx 0000

Xxxxxxxxxx, XX 00000-0000

And

Pacific Life Insurance Company

Attn: IM – Cash Team

000 Xxxxxxx Xxxxxx Xxxxx

Xxxxxxx Xxxxx, XX 00000

FAX: 000-000-0000


All other communications shall be addressed to:
Pacific Life Insurance Company
Attn: IM – Credit Analysis
000 Xxxxxxx Xxxxxx Xxxxx		Xxxxxxxx X. Xxxxx
Xxxxxxx Xxxxx, XX 00000-0000		AVP & Asst. Treasurer
XxxxxxxXxxxxxxxxXxxxxxxxxx@XxxxxxxXxxx.xxx

A-22


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

XXXX XXXXXXX LIFE INSURANCE COMPANY (U.S.A.)		$12,000,000 Series B

PAYMENTS:

All payments to be by bank wire transfer of immediately available funds to:


Bank Name:		Bank of New York Mellon
ABA Number:
Account Number:
Account Name:
For Further Credit to:
On Order of:

NOTICES AND AUDIT REQUESTS:

All notices with respect to payments, prepayments (scheduled and unscheduled, whether partial or in full) and audit requests shall be sent to:

Xxxx Xxxxxxx Financial Services

000 Xxxxxxxxx Xxxxxx

Xxxxxx, XX 00000

Attention:

Fax Number:

Email:

All notices and communication with respect to compliance reporting, financial statements and related certifications shall be sent to:

Xxxx Xxxxxxx Financial Services

000 Xxxxxxxxx Xxxxxx

Xxxxxx, XX 00000

Attention:

Email Address:

A-23

All other notices shall be sent to:


Xxxx Xxxxxxx Financial Services	and	Xxxx Xxxxxxx Financial Services
000 Xxxxxxxxx Xxxxxx		000 Xxxxxxxxx Xxxxxx
Xxxxxx, XX 00000		Xxxxxx, XX 00000
Attention:		Attention:
		Email Address:

TAX IDENTIFICATION NUMBER:

REGISTERED NAME OF SECURITIES: Xxxx Xxxxxxx Life Insurance Company (U.S.A.)

A-24


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

NEW YORK LIFE INSURANCE COMPANY		$4,100,000 Series B

[see attached]

A-25

NEW YORK LIFE INSURANCE COMPANY

(Tax I.D. No. 00-0000000)

(1)	All payments by wire or intrabank transfer of immediately available funds to:

XXXxxxxx Xxxxx Xxxx

Xxx Xxxx, Xxx Xxxx 00000

ABA No. 000-000-000

Credit: New York Life Insurance Company

General Account No. 000-0-00000

with sufficient information (including issuer, PPN number, interest rate, maturity and whether payment is of principal, premium, or interest) to identify the source and application of such funds.

All notices of payments, written confirmations of such wire transfers and any audit confirmation:

New York Life Insurance Company

c/o NYL Investors LLC

00 Xxxxxxx Xxxxxx

0^xx Xxxxx, Xxxx 000

Xxx Xxxx, Xxx Xxxx 00000-0000


Attention:		Investment Services
		Private Group
		2^nd Floor
		Fax #: 000-000-0000

with a copy sent electronically to:

XXXXXxxxxxx@xxxxx.xxx

XxxxxxxxxxxXXxXxx@xxxxx.xxx

Any changes in the foregoing payment instructions shall be confirmed by e-mail to XXXXXXxxxXxxxxxxxxxxx@xxxxx.xxx prior to becoming effective.

(2)	All other communications:

New York Life Insurance Company

c/o NYL Investors LLC

00 Xxxxxxx Xxxxxx

0^xx Xxxxx, Xxxx 000

Xxx Xxxx, Xxx Xxxx 00000


Attention:		Private Capital Investors
		2^nd Floor
		Fax #: 000-000-0000

with a copy sent electronically to:

XXXXXxxxxxx@xxxxx.xxx

XxxxxxxxxxxXXxXxx@xxxxx.xxx

and with a copy of any notices regarding defaults or Events of Default under the operative documents to:


Attention:		Xxxxxx xx Xxxxxxx Xxxxxxx
		Xxxxxxxxxx Xxxxxxx, Xxxx 0000
		Fax #: (000) 000-0000

(3)	Note(s) to be registered in the name of: New York Life Insurance Company

A-26


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION		$7,900,000 Series B

[see attached]

A-27

NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION

(Tax I.D. No. 00-0000000)

(1)	All payments by wire or intrabank transfer of immediately available funds to:

JPMorgan Chase Bank

New York, New York

ABA No. 000-000-000

Credit: New York Life Insurance and Annuity Corporation

General Account No. 000-0-00000

with sufficient information (including issuer, PPN number, interest rate, maturity and whether payment is of principal, premium, or interest) to identify the source and application of such funds,

All notices of payments, written confirmations of such wire transfers and any audit confirmation:

New York Life Insurance and Annuity Corporation

c/o NYL Investors LLC

00 Xxxxxxx Xxxxxx

0^xx Xxxxx, Xxxx 000

Xxx Xxxx, Xxx Xxxx 00000-0000


Attention:		Investment Services
		Private Group
		2^nd Floor
		Fax #: 000-000-0000

with a copy sent electronically to:

XXXXXxxxxxx@xxxxx.xxx

XxxxxxxxxxxXXxXxx@xxxxx.xxx

Any changes in the foregoing payment instructions shall be confirmed by e-mail to XXXXXXxxxXxxxxxxxxxxx@xxxxx.xxx prior to becoming effective.

(2)	All other communications:

New York Life Insurance and Annuity Corporation

c/o NYL Investors LLC

00 Xxxxxxx Xxxxxx

0^xx Xxxxx, Xxxx 000

Xxx Xxxx, Xxx Xxxx 00000-0000


Attention:		Private Capital Investors
		2^nd Floor
		Fax #: 000-000-0000

with a copy sent electronically to:

XXXXXxxxxxx@xxxxx.xxx

XxxxxxxxxxxXXxXxx@xxxxx.xxx

and with a copy of any notices regarding defaults or Events of Default under the operative documents to:


Attention:		Xxxxxx xx Xxxxxxx Xxxxxxx
		Xxxxxxxxxx Xxxxxxx, Xxxx 0000
		Fax #: (000) 000-0000

(3)	Note(s) to be registered in the name of: New York Life Insurance and Annuity Corporation

A-28


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

VOYA INSURANCE AND ANNUITY COMPANY		$300,000 Series A

(1) All payments on account of Notes held by such purchaser should be made by wire transfer of immediately available funds for credit to:

For scheduled principal and interest payments:

The Bank of New York Mellon

ABA#:

BNF:

Attention:

For further credit to:

Reference: PPN

For all payments other than scheduled principal and interest:

The Bank of New York Mellon

ABA#:

Account No.:

Account Name:

Reference: PPN

Each such wire transfer should set forth the name of the issuer, the full title (including the coupon rate, issuance date, and final maturity date) of the Notes on account of which such payment is made, and the due date and application (as among principal, premium and interest) of the payment being made.

(2) Address for all notices relating to payments:

Voya Investment Management LLC

0000 Xxxxxx Xxxxx Xxxx XX, Xxxxx 000

Xxxxxxx, XX 00000-0000

Attn:

Email:

(3) Address for all other communications and notices:

Voya Investment Management LLC

0000 Xxxxxx Xxxxx Xxxx XX, Xxxxx 000

Xxxxxxx, XX 00000-0000

Attn:

Fax:

Email:

A-29

(4) Tax Identification No.:

(5) The Notes should be sent directly to:

The Depository Trust Company

000 Xxxxxxxxxx Xxxx - 0^xx xxxxx

Xxxxxx Xxxx, XX 00000

Attn:

with a copy to:

Voya Investment Management LLC

0000 Xxxxxx Xxxxx Xxxx XX, Xxxxx 000

Xxxxxxx, XX 00000-0000

Attn:

Email:

Each cover letter accompanying the above Notes should set forth the name of the issuer, a description of the Notes (including the interest rate, maturity date and private placement number), and the name of each purchaser and its account number at The Bank of New York Mellon ( ) and the following:

The contact person at the Issuer of the Notes related to payments on the Notes is:

Name:

Telephone #:

E-Mail:

A-30


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

SECURITY LIFE OF DENVER INSURANCE COMPANY		$3,700,000 Series A

(1) All payments on account of Notes held by such purchaser should be made by wire transfer of immediately available funds for credit to:

For all payments of scheduled principal and interest:

The Bank of New York Mellon

ABA#:

BNF:

Attention:

For further credit to:

Reference: PPN

For all payments other than scheduled principal and interest:

The Bank of New York Mellon

ABA#:

Account No.:

Account Name:

Reference: PPN

(2) Address for all notices relating to payments:

Voya Investment Management LLC

0000 Xxxxxx Xxxxx Xxxx XX, Xxxxx 000

Xxxxxxx, XX 00000-0000

Attn:

Email:

(3) Address for all other communications and notices:

Voya Investment Management LLC

0000 Xxxxxx Xxxxx Xxxx XX, Xxxxx 000

Xxxxxxx, XX 00000-0000

Attn:

Fax:

Email:

A-31

(4) Tax Identification No.:

(5) The Notes should be sent directly to:

The Depository Trust Company

000 Xxxxxxxxxx Xxxx - 0^xx xxxxx

Xxxxxx Xxxx, XX 00000

Attn:

with a copy to:

Voya Investment Management LLC

0000 Xxxxxx Xxxxx Xxxx XX, Xxxxx 000

Xxxxxxx, XX 00000-0000

Attn:

Email:

The contact person at the Issuer of the Notes related to payments on the Notes is:

Name:

Telephone #:

E-Mail:

A-32


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

VOYA INSURANCE AND ANNUITY COMPANY		$1,800,000 Series A

(1) All payments on account of Notes held by such purchaser should be made by wire transfer of immediately available funds for credit to:

For all payments of scheduled principal and interest:

The Bank of New York Mellon

ABA#:

BNF:

Attention:

For credit to:

Reference: PPN

For all payments other than scheduled principal and interest:

The Bank of New York Mellon

ABA#:

Account No.:

Account Name:

Reference: PPN

(2) Address for all notices relating to payments:

Voya Investment Management LLC

0000 Xxxxxx Xxxxx Xxxx XX, Xxxxx 000

Xxxxxxx, XX 00000-0000

Attn:

Email:

With a copy to:

The Bank of New York

Insurance Trust Dept.

000 Xxxxxxx 0 Xxxx

Xxx Xxxx, XX 00000

Attn.:

Email:

A-33

(3) Address for all other communications and notices:

Voya Investment Management LLC

0000 Xxxxxx Xxxxx Xxxx XX, Xxxxx 000

Xxxxxxx, XX 00000-0000

Attn:

Fax:

Email:

(4) Tax Identification No.:

(5) The Notes should be sent directly to:

The Depository Trust Company

000 Xxxxxxxxxx Xxxx - 0^xx xxxxx

Xxxxxx Xxxx, XX 00000

Attn:

with a copy to:

Voya Investment Management LLC

0000 Xxxxxx Xxxxx Xxxx XX, Xxxxx 000

Xxxxxxx, XX 00000-0000

Attn:

Email:

The contact person at the Issuer of the Notes related to payments on the Notes is:

Name:

Telephone #:

E-Mail:

A-34


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

RELIASTAR LIFE INSURANCE COMPANY		$2,300,000 Series A

(1) All payments on account of Notes held by such purchaser should be made by wire transfer of immediately available funds for credit to:

For all payments of scheduled principal and interest:

The Bank of New York Mellon

ABA#:

BNF:

Attention:

For further credit to:

Reference: PPN

For all payments other than scheduled principal and interest:

The Bank of New York Mellon

ABA#:

Account No.:

Account Name:

Reference: PPN

(2) Address for all notices relating to payments:

Voya Investment Management LLC

0000 Xxxxxx Xxxxx Xxxx XX, Xxxxx 000

Xxxxxxx, XX 00000-0000

Attn:

Email:

(3) Address for all other communications and notices:

Voya Investment Management LLC

0000 Xxxxxx Xxxxx Xxxx XX, Xxxxx 000

Xxxxxxx, XX 00000-0000

Attn:

Fax:

Email:

A-35

(4) Tax Identification No.:

(5) The Notes should be sent directly to:

The Depository Trust Company

000 Xxxxxxxxxx Xxxx - 0^xx xxxxx

Xxxxxx Xxxx, XX 00000

Attn:

with a copy to:

Voya Investment Management LLC

0000 Xxxxxx Xxxxx Xxxx XX, Xxxxx 000

Xxxxxxx, XX 00000-0000

Attn:

Email:

The contact person at the Issuer of the Notes related to payments on the Notes is:

Name:

Telephone #:

E-Mail:

A-36


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

VOYA RETIREMENT INSURANCE AND ANNUITY COMPANY		$3,900,000 Series A

(1) All payments on account of Notes held by such purchaser should be made by wire transfer of immediately available funds for credit to:

For all payments of scheduled principal and interest:

The Bank of New York Mellon

ABA#:

BNF:

Attention:

For further credit to:

Reference: PPN

For all payments other than scheduled principal and interest:

The Bank of New York Mellon

ABA#:

Account No.:

Account Name:

Reference: PPN

(2) Address for all notices relating to payments:

Voya Investment Management LLC

0000 Xxxxxx Xxxxx Xxxx XX, Xxxxx 000

Xxxxxxx, XX 00000-0000

Attn:

Email:

(3) Address for all other communications and notices:

Voya Investment Management LLC

0000 Xxxxxx Xxxxx Xxxx XX, Xxxxx 000

Xxxxxxx, XX 00000-0000

Attn:

Fax:

Email:

A-37

(4) Tax Identification No.: 00-0000000

(5) The Notes should be sent directly to:

The Depository Trust Company

000 Xxxxxxxxxx Xxxx - 0^xx xxxxx

Xxxxxx Xxxx, XX 00000

Attn:

with a copy to:

Voya Investment Management LLC

0000 Xxxxxx Xxxxx Xxxx XX, Xxxxx 000

Xxxxxxx, XX 00000-0000

Attn:

Email:

The contact person at the Issuer of the Notes related to payments on the Notes is:

Name:

Telephone #:

E-Mail:

A-38


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY 0000 Xxxx Xxxxxxx Xxxx, 0X0 Xxxxxxxxx Xxxxxxx, XX 00000 Attn:		$8,000,000 Series A

US TIN:

UK DTTP No.:

PAYMENT INSTRUCTIONS – ALL PAYMENTS SHALL BE MADE BY WIRE TRANSFER AS FOLLOWS:

The Bank of New York Mellon

ABA No.:

BNF:

Account No.:

Account Name:

Attn:

Reference:

NOTICES AND COMMUNICATIONS

Great-West Life & Annuity Insurance Company

0000 Xxxx Xxxxxxx Xxxx, 0X0

Xxxxxxxxx Xxxxxxx, XX 00000

Attn:

Email:

PHYSICAL DELIVERY OF SECURITIES - NEW ISSUE

The Depository Trust Company

000 Xxxxxxxxxx Xxxxxxxxx, 0^xx Xxxxx

Xxxxxx Xxxx, XX 00000

Attn:

Reference:

A-39


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

AMERICAN EQUITY INVESTMENT LIFE INSURANCE COMPANY 0000 Xxxxxxx Xxxxxxx Xxxx Xxx Xxxxxx, XX 00000 Attention: (fax)		$6,000,000 Series B

Physical Delivery: effective 4.22.2013

DTCC

Xxxxxxx Xxxxxx Xxxxxx

000 Xxxxxxxxxx Xxxx

Xxxxxx Xxxx, XX 00000

5^th Floor/NY Window/

FBO

CUSIP/PPN:

Security Description:

Payments:

All payments on or in respect of the Notes shall be made in immediately available funds to:

State Street Bank & Trust Company

ABA #

Account #

REFERENCE: (PPN/CUSIP, Security Description, Interest Rate, Maturity Date, Interest Amount, Principal and Premium Amount)

Notices:

All notices and communications relating to payments should be addressed to:

American Equity Investment Life Insurance Co.

Attn: Asset Administration

0000 Xxxxxxx Xxxxxxx

Xxxx Xxx Xxxxxx, XX 00000

fax

Financial information, covenant compliance and all other non-payment notices and communications to be addressed as first provided above.

Name of Nominee in which notes are to be issued:

Tax ID:

A-40


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

GENWORTH LIFE INSURANCE COMPANY		$3,000,000 Series A $3,000,000 Series B

[see attached]

A-41

PRIVATE PLACEMENT INSTRUCTIONS


Name of Purchaser:		Genworth Life Insurance Company
Tax ID Number:		00-0000000
Register In Nominee Name:		HARE & CO., LLC

Notices:

All notices and communications including original note agreement, conformed copy of the note agreement, amendment requests, financial statements and other general information to be addressed as follows:

Genworth Financial, Inc.

Account: Genworth Life Insurance Company

0000 Xxxxxx Xxxxxx, 0xx Xxxxx

Xxxxxxxx, XX 00000

Attn: Private Placements

Telephone No: (000)000-0000

Fax No: (000)000-0000

If available, an electronic copy is additionally requested. Please send to the following e-mail address:

XXX.xxxxxxxxxxxxxxxxx@xxxxxxxx.xxx

All corporate actions, including payments and prepayments, should be sent to the above address with copies to:

Genworth Financial, Inc.

Account: Genworth Life Insurance Company

0000 Xxxxxx Xxxxxx

Xxxxxxxx, XX 00000

Attn: Trade Operations

Telephone No: (000)000-0000

Fax No: (000)000-0000

If available, an electronic copy is additionally requested. Please send to the following e-mail address:

XXXXxxxxxxxxxxXxxxxxxxxx@xxxxxxxx.xxx

Notices with respect to payments and written confirmation of each such payment, including interest payments, redemptions, premiums, make wholes, and fees should also be addressed as above with additional copies addressed to the following:

The Depository Trust Co

Income Collection Department

X.X. Xxx 00000

Xxxxxx, XX 00000


Attn:		Income Collection Department
Ref:		GLIC LILTCNEW Account 364781 CUSIP/PPN & Security Description
P&I Contact:		Xxxxxxxx Xxxxxx - (000) 000-0000

Payments:

All payments on or in respect of the Notes to be by bank wire transfer of Federal or other immediately available funds to:


Bank of New York
ABA #:		000000000
Account #:		GLA111566
SWIFT Code:		XXXXXX0X
Acct Name:		Income Collection Dept
Attn:		Income Collection Department
Reference:		GLIC / LILTCNEW
Account #:		364781 CUSIP/PPN & Security Description, and Identify Principal & Interest Amounts


And By Email:		xxxxxxxxxxxxxxx@xxxxxxxx.xxx
Fax:		(000) 000-0000

A-42

Physical Delivery of the Notes:

The Depository Trust Co

000 Xxxxxxxxxx Xxxx

XXX Xxxxxx /Branch Xxxxxxx Xxxx 0xx XXX

Xxxxxx Xxxx, XX 00000

Ref: GLIC / LILTCNEW Account # 364781

DTC Securities:

DTC #: 901

Agent ID #: 26500

Institutional II 26662

Account Name GLIC / LILTCNEW

Account #: 364781

A-43


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

CMFG LIFE INSURANCE COMPANY		$5,000,000 Series B

(nominee name TURNKEYS & CO)

NOTE DELIVERY INSTRUCTIONS:

All Securities Being Purchased Should Be Registered In the name of TURNKEYS & CO and Notes Delivered To:

DTCC

Newport Office Center

000 Xxxxxxxxxx Xxxx

Xxxxxx Xxxx, XX 00000

5th floor / NY Window /

FBO:

WIRING INSTRUCTIONS:

ABA:

Bank: State Street Bank

Account Name:

DDA #:

REFERENCE FUND:

Nominee Name:

CMFG Life Insurance Company TAX ID#:

TURNKEYS & CO TAX ID#:

All notices of payments, wires, audit confirmations, compliance and Financials shall be EMAILED to:

EMAIL:

All Legal communication shall be EMAILED to:

EMAIL:

A-44


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

THE STATE LIFE INSURANCE COMPANY		$4,500,000 Series A

The original note(s) should be sent to:

The Depository Trust Company

Attn: BNY Mellon/Branch Deposit Xxxx.

Xxxx #

000 Xxxxxxxxxx Xxxx. – 0^xx Xxxxx

Xxxxxx Xxxx, XX 00000

Please send all POST-CLOSING documentation to:

American United Life Insurance Company

Attn:

One American Square, Xxxxx 0000

Xxxx Xxxxxx Xxx 000

Xxxxxxxxxxxx, XX 00000

Payment:

Questar Gas Company shall make payment of principal and interest on the note(s) in immediately available funds by wire transfer to the following bank account:

THE STATE LIFE INSURANCE COMPANY

Bank of New York

ABA #:

Credit Account:

Account Name:

Account #:

P & I Breakdown: (Insert)

Re: PPN /Questar Gas Company

Payments should contain sufficient information to identify the breakdown of principal and interest and should identify the full description of the note(s) and the payment date.

The United States Tax I.D. Number of The State Life Insurance Company is.

A-45


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

PIONEER MUTUAL LIFE INSURANCE COMPANY		$500,000 Series A

The original note(s) should be sent to:

The Depository Trust Company

Attn: BNY Mellon/Branch Deposit Xxxx.

Xxxx #

000 Xxxxxxxxxx Xxxx. – 0^xx Xxxxx

Xxxxxx Xxxx, XX 00000

Please send all POST-CLOSING documentation to:

American United Life Insurance Company

Attn:

One American Square, Xxxxx 0000

Xxxx Xxxxxx Xxx 000

Xxxxxxxxxxxx, XX 00000

Payment:

Questar Gas Copmany shall make payment of principal and interest on the note(s) in immediately available funds by wire transfer to the following bank account:

PIONEER MUTUAL LIFE INSURANCE COMPANY

Bank of New York

ABA #:

Credit Account:

Account Name:

Account #:

P & I Breakdown: (Insert)

Re: PPN /Questar Gas Company

Payments should contain sufficient information to identify the breakdown of principal and interest and should identify the full description of the note(s) and the payment date.

The United States Tax I.D. Number of Pioneer Mutual Life Insurance Company is.

A-46


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

UNITED OF OMAHA LIFE INSURANCE COMPANY		$3,000,000 Series A

1.	Notes to be registered in the name of

UNITED OF OMAHA LIFE INSURANCE COMPANY

2.	Tax I.D. # is

3.	All principal and interest payments on the Notes shall be made by wire transfer of immediately available funds to:

JPMorgan Chase Bank

ABA #

Private Income Processing

For credit to:

United of Omaha Life Insurance Company

Account #

a/c:

Cusip/PPN:

Interest Amount:

Principal Amount:

4.	Address for delivery of bonds:

JPMorgan Chase Bank

0 Xxxxx Xxxxxxxxx Xxxxxx, 0^xx Xxxxx

Xxxxxxxx, XX 00000-0000

Attention:

Account#

**	It is imperative that the custody account be included on the delivery letter. Without this information, the security will be returned to the sender.

5. Address for all notices in respect of payment of Principal and Interest, Corporate Actions, and Reorganization Notifications:

JPMorgan Chase Bank

00000 Xxxxxx Xxxxxxx - 00xx Xxxxx

Xxxxxx, XX 00000-0000

Attn:

a/c:

A-47

6. Address for all other communications (i.e.: Quarterly/Annual reports, Tax filings, Modifications, Waivers regarding the indenture):

4 - Investment Management

United of Omaha Life Insurance Company

3300 Mutual of Xxxxx Xxxxx

Xxxxx, XX 00000-0000

Email Address for Electronic Document Transmission:

A-48


NAME AND ADDRESS OF PURCHASER		PRINCIPAL AMOUNT AND SERIES OF NOTES TO BE PURCHASED

MONY LIFE INSURANCE COMPANY (MNYCLO) Attn: Investment Department – 0000 Xxx. 000 Xxxxx Xxxxxxxxxx, XX 00000		$3,000,000 Series A


All payments by wire transfer of immediately available funds to: THE BANK OF NEW YORK ABA #: Acct. #: ATTN: FFC CUSTODY #: CUST. NAME: MONY Life Ins., Co.- Closed Block REF: PPN #		PRINCIPAL AMOUNT OF NOTES TO BE PURCHASED FOR: HELD IN NOMINEE NAME: HARE & CO.- $3,000,000.00 – Questar Gas PHYSICAL Delivery Instructions The Bank of New York One Wall Street, 3rd floor, Window “A”
with sufficient information to identify the source and application of such funds. All notices of payments and written confirmations of such wire transfers: MONY Life Insurance Co. (MNYCLO) Attn: 0000 Xxx. 000 Xxxxx Xxxxxxxxxx, XX 00000		New York, N.Y. 10286 CUSTODY A/C # CUST NAME:
All other communications: “same as above”
Tax identification number: (MNY) - #

A-49

DEFINED TERMS

As used herein, the following terms have the respective meanings set forth below or set forth in the Section hereof following such term:

“Acquired Debt” means, with respect to any specified Person, (i) Indebtedness of any other Person existing at the time such other Person is merged with or into or became a Subsidiary of such specified Person, including, without limitation, Indebtedness incurred in connection with, or in contemplation of, such other Person merging with or into or becoming a Subsidiary of such specified Person, and (ii) Indebtedness secured by a Lien encumbering any assets acquired by such specified Person, and any refinancing of the foregoing indebtedness on similar terms, taking into account current market conditions.

“Affiliate” means, at any time, and with respect to any Person, any other Person that at such time directly or indirectly through one or more intermediaries Controls, or is Controlled by, or is under common Control with, such first Person. Unless the context otherwise clearly requires, any reference to an “Affiliate” is a reference to an Affiliate of the Company.

“Agreement” means this Note Purchase Agreement, including all Schedules attached to this Agreement.

“Anti-Corruption Laws” means any law or regulation in a U.S. or any non-U.S. jurisdiction regarding bribery or any other corrupt activity, including the U.S. Foreign Corrupt Practices Act and the U.K. Xxxxxxx Xxx 0000.

“Anti-Money Laundering Laws” means any law or regulation in a U.S. or any non-U.S. jurisdiction regarding money laundering, drug trafficking, terrorist-related activities or other money laundering predicate crimes, including the Currency and Foreign Transactions Reporting Act of 1970 (otherwise known as the Bank Secrecy Act) and the USA PATRIOT Act.

“Attributable Indebtedness” means, on any date, (a) in respect of any capital lease of any Person, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP, and (b) in respect of any Synthetic Lease Obligation, the capitalized amount of the remaining lease payments under the relevant lease that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP if such lease were accounted for as a capital lease.

“Blocked Person” means (a) a Person whose name appears on the list of Specially Designated Nationals and Blocked Persons published by OFAC, (b) a Person, entity, organization, country or regime that is blocked or a target of sanctions that have been imposed under U.S. Economic Sanctions Laws or (c) a Person that is an agent, department or instrumentality of, or is otherwise beneficially owned by, controlled by or acting on behalf of, directly or indirectly, any Person, entity, organization, country or regime described in clause (a) or (b).

SCHEDULE B

(to Note Purchase Agreement)

“Business Day” means (a) for the purposes of Section 8.6 only, any day other than a Saturday, a Sunday or a day on which commercial banks in New York City are required or authorized to be closed, and (b) for the purposes of any other provision of this Agreement, any day other than a Saturday, a Sunday or a day on which commercial banks in New York, New York, or Salt Lake City, Utah are required or authorized to be closed.

“Capital Lease” means, at any time, a lease with respect to which the lessee is required concurrently to recognize the acquisition of an asset and the incurrence of a liability in accordance with GAAP.

“Closing” is defined in Section 3.

“Code” means the Internal Revenue Code of 1986, as amended from time to time, and the rules and regulations promulgated thereunder from time to time.

“Company” means Questar Gas Company, a Utah corporation or any successor that becomes such in the manner prescribed in Section 10.2.

“Confidential Information” is defined in Section 20.

“Consolidated Indebtedness” means at any time the Indebtedness of the Company and its Subsidiaries, calculated on a consolidated basis as of such time in accordance with GAAP.

“Consolidated Net Worth” means at any time the consolidated stockholder’s equity of the Company and its Subsidiaries, calculated on a consolidated basis as of such time in accordance with GAAP.

“Consolidated Total Capitalization” means at any time the sum of Consolidated Indebtedness and Consolidated Net Worth, each calculated on a consolidated basis as of such time in accordance with GAAP.

“Consolidated Total Capitalization of the Restricted Group” means at any time the sum of (i) the Indebtedness of the Company and its Restricted Subsidiaries and (ii) the consolidated stockholder’s equity of the Company and its Restricted Subsidiaries, in each case, calculated on a consolidated basis as of such time in accordance with GAAP.

“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise; and the terms “Controlled” and “Controlling” shall have meanings correlative to the foregoing.

“Controlled Entity” means (a) any of the Subsidiaries of the Company and any of their or the Company’s respective Controlled Affiliates and (b) if the Company has a parent company, such parent company and its Controlled Affiliates.

B-2

“Default” means an event or condition the occurrence or existence of which would, with the lapse of time or the giving of notice or both, become an Event of Default.

“Default Rate” means, with respect to any series of Notes, that rate of interest that is the greater of (i) 1.0% per annum above the rate of interest stated in clause (a) of the first paragraph of such series of Notes or (ii) 1.0% over the rate of interest publicly announced by Xxxxx Fargo Bank, N.A. in New York, New York as its “base” or “prime” rate.

“Disclosure Documents” is defined in Section 5.3.

“XXXXX” means the SEC’s Electronic Data Gathering, Analysis and Retrieval System or any successor SEC electronic filing system for such purposes.

“Electronic Delivery” is defined in Section 7.1(a).

“Environmental Laws” means any and all Federal, state, local, and foreign statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of the environment or the release of any materials into the environment, including but not limited to those related to Hazardous Materials.

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time, and the rules and regulations promulgated thereunder from time to time in effect.

“ERISA Affiliate” means any trade or business (whether or not incorporated) that is treated as a single employer together with the Company under section 414 of the Code.

“Event of Default” is defined in Section 11.

“Exchange Act” means the Securities Exchange Act of 1934, as amended.

“Exchange Act Reports” means the Company’s Form 10-K for the year ended December 31, 2015; Form 10-Q for the quarter ended March 31, 2016; Form 10-Q for the respective quarters ended June 30, 2016 and September 30, 2016 and any Form 10-K, Form 10-Q or Current Report on Form 8-K filed by the Company after September 30, 2016 and prior to the date of Closing.

“Form 10-K” is defined in Section 7.1(b).

“Form 10-Q” is defined in Section 7.1(a).

“GAAP” means (a) generally accepted accounting principles as in effect from time to time in the United States of America and (b) for purposes of Section 9.6, with respect to any Subsidiary, generally accepted accounting principles (including International Financial Reporting Standards, as applicable) as in effect from time to time in the jurisdiction of organization of such Subsidiary.

B-3

“Governmental Authority” means

(a) the government of

(i) the United States of America or any State or other political subdivision thereof, or

(ii) any other jurisdiction in which the Company or any Subsidiary conducts all or any part of its business, or which asserts jurisdiction over any properties of the Company or any Subsidiary, or

(b) any entity exercising executive, legislative, judicial, regulatory or administrative functions of, or pertaining to, any such government.

“Governmental Official” means any governmental official or employee, employee of any government-owned or government-controlled entity, political party, any official of a political party, candidate for political office, official of any public international organization or anyone else acting in an official capacity.

“Guaranty” means, with respect to any Person, any obligation (except the endorsement in the ordinary course of business of negotiable instruments for deposit or collection) of such Person guaranteeing or in effect guaranteeing any indebtedness, dividend or other obligation of any other Person in any manner, whether directly or indirectly, including (without limitation) obligations incurred through an agreement, contingent or otherwise, by such Person:

(a) to purchase such indebtedness or obligation or any property constituting security therefor;

(b) to advance or supply funds (i) for the purchase or payment of such indebtedness or obligation, or (ii) to maintain any working capital or other balance sheet condition or any income statement condition of any other Person or otherwise to advance or make available funds for the purchase or payment of such indebtedness or obligation;

(c) to lease properties or to purchase properties or services primarily for the purpose of assuring the owner of such indebtedness or obligation of the ability of any other Person to make payment of the indebtedness or obligation; or

(d) otherwise to assure the owner of such indebtedness or obligation against loss in respect thereof.

In any computation of the indebtedness or other liabilities of the obligor under any Guaranty, the indebtedness or other obligations that are the subject of such Guaranty shall be assumed to be direct obligations of such obligor.

B-4

“Hazardous Material” means any and all pollutants, toxic or hazardous wastes or other substances that might pose a hazard to health and safety, the removal of which may be required or the generation, manufacture, refining, production, processing, treatment, storage, handling, transportation, transfer, use, disposal, release, discharge, spillage, seepage or filtration of which is or shall be restricted, prohibited or penalized by any applicable law including, but not limited to, asbestos, urea formaldehyde foam insulation, polychlorinated biphenyls, petroleum, petroleum products, lead based paint, radon gas or similar restricted, prohibited or penalized substances.

“holder” means, with respect to any Note, the Person in whose name such Note is registered in the register maintained by the Company pursuant to Section 13.1, provided, however, that if such Person is a nominee, then for the purposes of Sections 7, 12, 17.2 and 18 and any related definitions in this Schedule A, “holder” shall mean the beneficial owner of such Note whose name and address appears in such register.

“Indebtedness” means, as to any Person at a particular time, without duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP:

(a) all obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments;

(b) all direct or contingent obligations of such Person arising under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments;

(d) all obligations of such Person to pay the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business);

(e) indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by such Person or is limited in recourse;

(f) capital leases and Synthetic Lease Obligations; and

(g) all Guarantees of such Person in respect of any of the foregoing.

For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, unless such Indebtedness is expressly made non-recourse to such Person. The amount of any net obligation under any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such date. The amount of any capital lease or Synthetic Lease Obligation as of any date shall be deemed to be the amount of Attributable Indebtedness in respect thereof as of such date.

B-5

“INHAM Exemption” is defined in Section 6.2(e).

“Institutional Investor” means (a) any Purchaser of a Note, (b) any holder of a Note holding (together with one or more of its affiliates) more than 5% of the aggregate principal amount of the Notes then outstanding, (c) any bank, trust company, savings and loan association or other financial institution, any pension plan, any investment company, any insurance company, any registered broker or dealer, or any other similar financial institution or entity, regardless of legal form, and (d) any Related Fund of any holder of any Note.

“Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any conditional sale or other title retention agreement, and any financing lease having substantially the same economic effect as any of the foregoing).

“Make-Whole Amount” is defined in Section 8.6.

“Material” means material in relation to the business, operations, affairs, financial condition, assets or properties of the Company and its Subsidiaries taken as a whole.

“Material Adverse Effect” means a material adverse effect on (a) the business, operations, affairs, financial condition, assets or properties of the Company and its Subsidiaries taken as a whole, (b) the ability of the Company to perform its obligations under this Agreement and the Notes, (c) the ability of any Subsidiary Guarantor to perform its obligations under its Subsidiary Guaranty or (d) the validity or enforceability of this Agreement, the Notes or any Subsidiary Guaranty.

“Memorandum” is defined in Section 5.3.

“Multiemployer Plan” means any Plan that is a “multiemployer plan” (as such term is defined in section 4001(a)(3) of ERISA).

“NAIC” means the National Association of Insurance Commissioners or any successor thereto.

“Non-U.S. Plan” means any plan, fund or other similar program that (a) is established or maintained outside the United States of America by the Company or any Subsidiary primarily for the benefit of employees of the Company or one or more Subsidiaries residing outside the United States of America, which plan, fund or other similar program provides, or results in, retirement income, a deferral of income in contemplation of retirement or payments to be made upon termination of employment, and (b) is not subject to ERISA or the Code.

“Non-Priority Debt” is defined in Section 10.5.

B-6

“Notes” is defined in Section 1.1.

“OFAC” means the Office of Foreign Assets Control of the United States Department of the Treasury.

“OFAC Sanctions Program” means any economic or trade sanction that OFAC is responsible for administering and enforcing. A list of OFAC Sanctions Programs may be found at xxxx://xxx.xxxxxxxx.xxx/xxxxxxxx-xxxxxx/xxxxxxxxx/Xxxxxxxx/Xxxxx/Xxxxxxxx.xxxx.

“Offeree Letter” means a letter in the form set forth in Exhibit 5.13.

“Officer’s Certificate” means a certificate of a Senior Financial Officer or of any other officer of the Company whose responsibilities extend to the subject matter of such certificate.

“Parent” means Dominion Questar Corporation, a Utah corporation, and any successor thereto.

“PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA or any successor thereto.

“Person” means an individual, partnership, corporation, limited liability company, association, trust, unincorporated organization, business entity or Governmental Authority.

“Plan” means an “employee benefit plan” (as defined in section 3(3) of ERISA) subject to Title I of ERISA that is or, within the preceding five years, has been established or maintained, or to which contributions are or, within the preceding five years, have been made or required to be made, by the Company or any ERISA Affiliate or with respect to which the Company or any ERISA Affiliate may have any liability.

“Preferred Stock” means any class of capital stock of a Person that is preferred over any other class of capital stock (or similar equity interests) of such Person as to the payment of dividends or the payment of any amount upon liquidation or dissolution of such Person.

“Principal Bank Credit Agreement” means the credit or facility agreement that constitutes the primary bank credit facility or facilities of the Company and provides for an aggregate commitment of the Company in excess of $100,000,000, as amended, restated, joined, supplemented or otherwise modified from time to time, and any renewals, extensions or replacements thereof.

“Priority Debt” means the sum, without duplication, of (a) all outstanding unsecured Indebtedness of the Restricted Subsidiaries of the Company, excluding (i) Indebtedness owed to the Company or any other Restricted Subsidiary and (ii) Indebtedness outstanding at the time any Person becomes a Restricted Subsidiary (or is merged or consolidated with or into the Company or another Restricted Subsidiary but in no event as a result of a redesignation of a Subsidiary from an Unrestricted Subsidiary to a Restricted Subsidiary), provided that such Indebtedness shall not have been incurred in contemplation of such Person becoming a Restricted Subsidiary

B-7

(or of such merger or consolidation) and (iii) the Subsidiary Guaranty and any other unsecured Indebtedness of a Subsidiary Guarantor; and (b) all outstanding Indebtedness of the Company and any Restricted Subsidiary (excluding Non-Priority Debt) secured by Liens not permitted by Sections 10.5 (a) through (g), inclusive, or Sections 10.5 (i) through (p), inclusive.

“property” or “properties” means, unless otherwise specifically limited, real or personal property of any kind, tangible or intangible, xxxxxx or inchoate.

“PTE” is defined in Section 6.2(a).

“Purchaser” or “Purchasers” means each of the purchasers that has executed and delivered this Agreement to the Company and such Purchaser’s successors and assigns (so long as any such assignment complies with Section 13.2), provided, however, that any Purchaser of a Note that ceases to be the registered holder or a beneficial owner (through a nominee) of such Note as the result of a transfer thereof pursuant to Section 13.2 shall cease to be included within the meaning of “Purchaser” of such Note for the purposes of this Agreement upon such transfer.

“Purchaser Schedule” means the Purchaser Schedule to this Agreement listing the Purchasers of the Notes and including their notice and payment information.

“Qualified Institutional Buyer” means any Person who is a “qualified institutional buyer” within the meaning of such term as set forth in Rule 144A(a)(1) under the Securities Act.

“QPAM Exemption” is defined in Section 6.2(d).

“Related Fund” means, with respect to any holder of any Note, any fund or entity that (i) invests in Securities or bank loans, and (ii) is advised or managed by such holder, the same investment advisor as such holder or by an affiliate of such holder or such investment advisor.

“Required Holders” means, at any time on or after the date of Closing, the holders of more than 50% in aggregate principal amount of the Notes at the time outstanding (exclusive of Notes then owned by the Company or any of its Affiliates).

“Responsible Officer” means any Senior Financial Officer and any other officer of the Company with responsibility for the administration of the relevant portion of this Agreement.

“Restricted Subsidiary” means any Subsidiary of the Company that the Company has not designated an Unrestricted Subsidiary pursuant to Section 9.9 hereof.

“SEC” means the Securities and Exchange Commission of the United States, or any successor thereto.

“Securities” or “Security” shall have the meaning specified in Section 2(1) of the Securities Act.

B-8

“Securities Act” means the Securities Act of 1933, as amended from time to time, and the rules and regulations promulgated thereunder from time to time in effect.

“Senior Financial Officer” means the current or acting chief financial officer, principal accounting officer, treasurer or controller of the Company.

“series” is defined in Section 1.

“Series A Notes” is defined in Section 1.

“Series B Notes” is defined in Section 1.

“Significant Subsidiary” means at any time any Subsidiary that would at such time constitute a “significant subsidiary” (as such term is defined in Regulation S-X of the SEC as in effect on the date of the Closing) of the Company.

“Source” is defined in Section 6.2.

“State Sanctions List” means a list that is adopted by any state Governmental Authority within the United States of America pertaining to Persons that engage in investment or other commercial activities in Iran or any other country that is a target of economic sanctions imposed under U.S. Economic Sanctions Laws.

“Subsidiary” means, as to any Person, any other Person in which such first Person or one or more of its Subsidiaries or such first Person and one or more of its Subsidiaries owns sufficient equity or voting interests to enable it or them (as a group) ordinarily, in the absence of contingencies, to elect a majority of the directors (or Persons performing similar functions) of such second Person, and any partnership or joint venture if more than a 50% interest in the profits or capital thereof is owned by such first Person or one or more of its Subsidiaries or such first Person and one or more of its Subsidiaries (unless such partnership or joint venture can and does ordinarily take major business actions without the prior approval of such Person or one or more of its Subsidiaries). Unless the context otherwise clearly requires, any reference to a “Subsidiary” is a reference to a Subsidiary of the Company.

“Subsidiary Guarantor” means any Subsidiary that is a party to the Subsidiary Guaranty.

“Subsidiary Guaranty” is defined in Section 9.8(b).

“Substitute Purchaser” is defined in Section 21.

“SVO” means the Securities Valuation Office of the NAIC or any successor to such Office.

“Swap Contract” means (a) any and all interest rate swap transactions, basis swaps, credit derivative transactions, forward interest rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond

B-9

price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement.

“Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the xxxx-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts (which may include any holder of the Notes or Affiliate thereof).

“Synthetic Lease” means, at any time, any lease (including leases that may be terminated by the lessee at any time) of any property (a) that is accounted for as an operating lease under GAAP and (b) in respect of which the lessee retains or obtains ownership of the property so leased for U.S. federal income tax purposes, other than any such lease under which such Person is the lessor.

“Total Assets” means, for any Person, as of any date of determination, the total amount of all assets of such Person, determined in accordance with GAAP.

“United States Person” has the meaning set forth in Section 7701(a)(30) of the Code.

“Unrestricted Subsidiary” means each Subsidiary of the Company that is not a Restricted Subsidiary.

“USA PATRIOT Act” means United States Public Law 107-56, Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT) Act of 2001, as amended from time to time, and the rules and regulations promulgated thereunder from time to time in effect.

“U.S. Economic Sanctions Laws” means those laws, executive orders, enabling legislation or regulations administered and enforced by the United States pursuant to which economic sanctions have been imposed on any Person, entity, organization, country or regime, including the Trading with the Enemy Act, the International Emergency Economic Powers Act, the Iran Sanctions Act, the Sudan Accountability and Divestment Act and any other OFAC Sanctions Program.

B-10

“Wholly-Owned Restricted Subsidiary” means, at any time, any Restricted Subsidiary all of the equity interests (except directors’ qualifying shares) and voting interests of which are owned by any one or more of the Company and the Company’s other Wholly-Owned Restricted Subsidiaries at such time.

B-11

SCHEDULE 5.3

DISCLOSURE MATERIALS

•

The Note Purchase Agreement

•

Private Placement Memorandum dated August 2016 posted on Intralinks for potential Purchasers of the Notes

•

The Exchange Act Reports

SCHEDULE 5.3

(to Note Purchase Agreement)

SCHEDULE 5.5

FINANCIAL STATEMENTS

•

The financial statements contained in the Company’s Form 10-K for the year ended December 31, 2015

•

The financial statements contained in the Company’s Form 10-Q for the quarter ended March 31, 2016

•

The financial statements contained in the Company’s Form 10-Q for the quarter ended June 30, 2016

•

The financial statements contained in the Company’s Form 10-Q for the quarter ended September 30, 2016

SCHEDULE 5.5

(to Note Purchase Agreement)

SCHEDULE 5.8

LITIGATION

Questar Gas Company has no material litigation pending or in progress.

SCHEDULE 5.8

(to Note Purchase Agreement)

SCHEDULE 5.15

EXISTING INDEBTEDNESS

(As of June 30, 2016)

Short term debt:

Short-term debt owed to Parent: $129.0 million at 0.69% per annum.

Long term debt:


Note No.	CUSIP No.		Date Issued		Maturity		Principal		Coupon Interest Rate
Series C:
FXR-7		00000XXX0		10/8/97		10/10/17		14,500,000		6.85	%

							$	14,500,000

Series E:
FXR-1		00000XXX0		3/25/03		3/15/18		70,000,000		5.31	%

							$	70,000,000

Senior Notes:
		00000XXX0		3/27/08		4/1/18		50,000,000		6.30	%
		00000XXX0		3/27/08		4/1/38		100,000,000		7.20	%

							$	150,000,000		6.90	%

Private Placements:
		PPN 74837 A*7		12/14/12		12/1/2024		40,000,000		2.98	%
		PPN 74837 A@5		12/14/12		12/1/2027		110,000,000		3.28	%

							$	150,000,000		3.20	%

Private Placements:
		PPN 74837 A#3		12/20/13		12/1/2043		90,000,000		4.78	%
		PPN 74837 B*6		12/20/13		12/1/2048		60,000,000		4.83	%

							$	150,000,000		4.68	%

Grand Totals							$	534,500,000		5.06	%

Liens: None.

SCHEDULE 5.15

(to Note Purchase Agreement)

[FORM OF SERIES A NOTE]

THIS NOTE HAS BEEN ACQUIRED WITHOUT A VIEW TO DISTRIBUTION AND HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”), OR UNDER STATE SECURITIES LAWS. NO TRANSFER, SALE, ASSIGNMENT, PLEDGE, HYPOTHECATION OR OTHER DISPOSITION OF THIS NOTE MAY BE MADE UNLESS (A) REGISTERED OR EXEMPT FROM REGISTRATION UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS AND (B) THE CONDITIONS CONTAINED IN THE NOTE PURCHASE AGREEMENT REFERRED TO BELOW ARE SATISFIED.

QUESTAR GAS COMPANY

3.62% SENIOR NOTE, SERIES A, DUE DECEMBER 1, 2046


No. [ ]		[Date]
$[ ]		PPN 74837H B@4

FOR VALUE RECEIVED, the undersigned, Questar Gas Company (herein called the “Company”), a corporation organized and existing under the laws of the State of Utah, hereby promises to pay to [ ], or registered assigns, the principal sum of [ ] DOLLARS (or so much thereof as shall not have been prepaid) on December 1, 2046, with interest (computed on the basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance hereof at the rate of 3.62% per annum from the date hereof, payable semiannually, on the 1st day of June and December in each year and at maturity, commencing with June 1, 2017, until the principal hereof shall have become due and payable, and (b) to the extent permitted by law, on any overdue payment of interest, and, during the continuance of any Event of Default, any overdue payment of any Make-Whole Amount and the unpaid principal balance hereof, payable semi-annually as aforesaid (or, at the option of the registered holder hereof, on demand), at a rate per annum from time to time equal to the greater of (i) 4.62% or (ii) 1.0% over the rate of interest publicly announced by Xxxxx Fargo Bank, N.A. from time to time in New York, New York as its “base” or “prime” rate.

Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are to be made in lawful money of the United States of America at Xxxxx Fargo Bank, N.A. in Minneapolis, Minnesota or at such other place as the Company shall have designated by written notice to the holder of this Note as provided in the Note Purchase Agreement referred to below.

This Note is one of the Senior Notes (herein called the “Notes”) issued pursuant to the Note Purchase Agreement, dated as of December 15, 2016 (as from time to time amended, modified or supplemented, the “Note Purchase Agreement”), between the Company and the respective Purchasers named therein and is entitled to the benefits thereof. Each holder of this Note will be deemed, by its acceptance hereof, to have (i) agreed to the confidentiality provisions set forth in Section 20 of the Note Purchase Agreement and (ii) made the representation set forth

EXHIBIT 1(a)

(to Note Purchase Agreement)

in Section 6.1 and Section 6.2 of the Note Purchase Agreement. Unless otherwise indicated, capitalized terms used in this Note shall have the respective meanings ascribed to such terms in the Note Purchase Agreement.

This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender of this Note for registration of transfer, accompanied by a written instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a new Note for a like principal amount will be issued to, and registered in the name of, the transferee. Prior to due presentment for registration of transfer, the Company may treat the person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the Company will not be affected by any notice to the contrary.

The Company will make required prepayments of principal on the dates and in the amounts specified in the Note Purchase Agreement. This Note is also subject to optional prepayment, in whole or from time to time in part, at the times and on the terms specified in the Note Purchase Agreement, but not otherwise.

If an Event of Default occurs and is continuing, the principal of this Note may be declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided in the Note Purchase Agreement.

This Note shall be construed and enforced in accordance with, and the rights of the Company and the holder of this Note shall be governed by, the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other than such State.


QUESTAR GAS COMPANY

By
		Name:
		Title:

1(a)-2

[FORM OF SERIES B NOTE]

QUESTAR GAS COMPANY

3.67% SENIOR NOTE, SERIES B, DUE DECEMBER 1, 2051


No. [ ]		[Date]
$[ ]		PPN 74837H B#2

FOR VALUE RECEIVED, the undersigned, Questar Gas Company (herein called the “Company”), a corporation organized and existing under the laws of the State of Utah, hereby promises to pay to [ ], or registered assigns, the principal sum of [ ] DOLLARS (or so much thereof as shall not have been prepaid) on DECEMBER 1, 2051, with interest (computed on the basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance hereof at the rate of 3.67% per annum from the date hereof, payable semiannually, on the 1st day of June and December in each year and at maturity, commencing with June 1, 2017, until the principal hereof shall have become due and payable, and (b) to the extent permitted by law, on any overdue payment of interest, and, during the continuance of any Event of Default, any overdue payment of any Make-Whole Amount and the unpaid principal balance hereof, payable semi-annually as aforesaid (or, at the option of the registered holder hereof, on demand), at a rate per annum from time to time equal to the greater of (i) 4.67% or (ii) 1.0% over the rate of interest publicly announced by Xxxxx Fargo Bank, N.A. from time to time in New York, New York as its “base” or “prime” rate.

This Note is one of the Senior Notes (herein called the “Notes”) issued pursuant to the Note Purchase Agreement, dated as of DECEMBER 15, 2016 (as from time to time amended, modified or supplemented, the “Note Purchase Agreement”), between the Company and the respective Purchasers named therein and is entitled to the benefits thereof. Each holder of this Note will be deemed, by its acceptance hereof, to have (i) agreed to the confidentiality provisions set forth in Section 20 of the Note Purchase Agreement and (ii) made the representation set forth

EXHIBIT 1(b)

(to Note Purchase Agreement)


QUESTAR GAS COMPANY

By
		Name:
		Title:

1(b)-2

FORM OF OPINION OF SPECIAL COUNSEL

TO THE COMPANY

December [ ] 2016

To Each of the Purchasers

Listed in Schedule A to the

Note Purchase Agreement

Re:

Questar Gas Company 3.62% Senior Notes, Series A, due 2046

and 3.67% Senior Notes, Series B, due 2051

Ladies and Gentlemen:

We have acted as special opinion counsel to Questar Gas Company, a Utah corporation (“Questar Gas”), in connection with the execution and delivery of the Note Purchase Agreement, dated December 15, 2016, (the “Note Purchase Agreement”), among each of the purchasers listed in Schedule A thereto (the “Purchasers”) and Questar Gas , relating to the sale by Questar Gas to the Purchasers of $50 million aggregate principal amount of its 3.62% Senior Notes, Series A, due 2046 and $50 million aggregate principal amount of its 3.67% Senior Notes, Series B, due 2051 (collectively, the “Notes”). Unless otherwise defined herein, terms used herein have the meanings provided for in the Note Purchase Agreement.

We render this opinion letter to you at the request of Questar Gas to satisfy the requirements of Section 4.4 of the Note Purchase Agreement. The law covered by the opinions expressed herein is limited to the generally applicable laws of the State of New York and the generally applicable federal laws of the United States of America (collectively, the “Covered Laws”).

A.	Documents Reviewed

In connection with this opinion letter and as the basis for the opinions set forth below, we have made such investigations of Utah law as we have deemed relevant and necessary, and we have examined such documents and records as we have deemed relevant and necessary, including the following:

a) an executed copy of the Note Purchase Agreement;

EXHIBIT 4.4(a)

(to Note Purchase Agreement)

b) executed copies of certificates evidencing the Notes registered in the names of the persons and in the denominations specified in Schedule A to the Note Purchase Agreement, dated as of the date hereof (the “Notes Certificates”);

c) an executed copy of a certificate of Xxxxxxxx Cardiff, Vice President, Controller and Chief Accounting Officer of Questar Gas, dated as of the date hereof, a copy of which is attached as Exhibit A hereto; and

d) a letter from MUFG Securities Americas Inc. (MUFG), Mizuho Securities USA Inc. and X.X. Xxxxxx Securities LLC (collectively, the “Placement Agents”), dated as of the date hereof, a copy of which is attached as Exhibit B hereto (the “Offeree Letter”).

The Note Purchase Agreement and the Notes Certificates are referred to herein collectively as the “Transaction Agreements.”

As to any questions of fact material to our opinions, we have relied with your permission and without independent investigation or verification upon the statements as to factual matters set forth in the Note Purchase Agreement (including, but not limited to, the representations and warranties set forth therein).

B.	Assumptions

For purposes of this opinion letter, we have assumed that:

B-1. All conditions precedent to the effectiveness of the Transaction Agreements (other than the delivery of this opinion letter) have been satisfied or waived.

B-2. All exhibits, schedules and other attachments referred to in the Transaction Agreements have been properly completed and attached. There is no document or other information that has not been furnished to us, no written or oral agreement or understanding between or among any of the parties to the Note Purchase Agreement, and no usage of trade or course of prior dealing between or among any of those parties, that would, in any such case, define, supplement, qualify or modify any terms of the Transaction Agreements.

B-3. There is no evidence extrinsic to the provisions of the Transaction Agreements that the parties intended a meaning contrary to that expressed by the provisions of the Transaction Agreements, there has been no mutual mistake of fact or misunderstanding, and there exists no fraud, duress or undue influence with respect to the agreements and obligations contained in the Transaction Agreements. The Transaction Agreements examined by us are accurate and complete, and the Transaction Agreements conform to authentic originals.

B-4. Questar Gas (i) is a corporation duly organized, validly existing, and in good standing under the laws of the State of Utah; (ii) has all necessary corporate power and authority to enter into, and to perform its obligations under, each of the Transaction Agreements; (iii) has duly authorized, by all necessary corporate action on the part of Questar Gas, the execution and delivery of, and the performance of the transactions contemplated by, each of the Transaction Agreements; and (iv) has duly executed and delivered each of the Transaction Agreements.

4.4(a)-2

B-5. The Transaction Agreements constitute legal, valid, and binding obligations of all parties thereto other than Questar Gas, enforceable against such parties in accordance with their respective terms.

C.	Opinions

Based on the foregoing examinations and assumptions and subject to the qualifications, limitations and exclusions stated below, we are of the opinion that:

C-1. Each of the Transaction Agreements has been duly executed and delivered by Questar Gas.

C-2. Each of the Transaction Agreements constitutes the valid and binding obligation of Questar Gas, enforceable against Questar Gas in accordance with its terms under the laws of the State of New York.

C-3. Questar Gas is not and, solely after giving effect to the offering and sale of the Notes and the application of the proceeds thereof as described in the Note Purchase Agreement, will not be an “investment company” as such term is defined in the Investment Company Act of 1940, as amended.

C-4. Assuming that Questar Gas complies with the provisions of the Note Purchase Agreement relating to the use of proceeds, the consummation of the transactions contemplated by the Note Purchase Agreement will not violate Regulation U or X of the Board of Governors of the Federal Reserve System.

C-5. Assuming (i) the accuracy of the representations and warranties of Questar Gas set forth in Section 5.13 and 5.18 of the Note Purchase Agreement and of the Purchasers in Section 6 of the Note Purchase Agreement, (ii) compliance with the offering and transfer procedures and restrictions described in the Note Purchase Agreement and the restrictive legend set forth in the Notes Certificates and (iii) the accuracy of the representations and warranties of the Placement Agents and compliance by the Placement Agents with the covenants and agreements of the Placement Agents, in each case contained in the Offeree Letter, the offer, sale and delivery of the Notes to the Purchasers in the manner contemplated by the Note Purchase Agreement does not require registration under the Securities Act of 1933 or qualification of the Note Purchase Agreement under the Trust Indenture Act of 1939, it being understood that we do not express any opinion with respect to any subsequent reoffer or resale of any Note.

D.	Qualifications, Limitations and Exclusions

The opinions set forth herein are subject to the following qualifications, limitations and exclusions.

4.4(a)-3

D-1. Our opinion in paragraph C-1 is subject to the effects of: (i) equitable principles and any applicable bankruptcy, reorganization, winding-up, insolvency, moratorium, fraudulent conveyance, fraudulent transfer, voidable transactions or other laws of general application relating to or affecting creditors’ rights and remedies generally (including, without limitation, the effectiveness of waivers of defenses and legal rights); and (ii) public policies or generally applicable rules of law that limit or affect the enforceability of provisions of a contract that purport to require waivers of any of the obligations of good faith, fair dealing, diligence, reasonableness or care. In addition, no opinion is expressed herein as to any provisions in the Transaction Agreements that purport to release, exculpate or exempt a person from, or to require indemnification of a person for, liability for that person’s own action or inaction, to the extent that the action or inaction involves negligence, recklessness, bad faith, willful misconduct or unlawful conduct, or otherwise to provide that any person may have rights to release, exculpation, exemption, indemnity or contribution to the extent contrary to or limited by public policy.

D-2. We express no opinion as to any specific remedy that may be granted, imposed or rendered with respect to any breach of, or failure to comply with, any agreement and, in particular, no opinion is expressed as to the availability of equitable remedies, including that of specific performance or injunctive relief for the enforcement of any provisions of any agreement.

D-3. We express no opinion as to the enforceability of any provision of any Transaction Agreement to the extent that it purports to provide for waiver of defenses which cannot as a matter of law be effectively waived.

D-4. To the extent that any opinion relates to the enforceability of the choice of New York law and choice of New York forum provisions contained in the Transaction Agreements, the opinions stated herein are rendered solely in reliance upon New York General Obligations Law sections 5-1401 and 5-1402 and Rule 327(b) of New York Civil Practice Law and Rules and are subject to the qualification that such enforceability may be subject to, in each case, (i) the exceptions and limitations in sections 5.1401 and 5-1402, and (ii) principles of comity or constitutionality.

D-5. Except to the extent expressly stated in paragraphs C-3, C-4 and C-5, we do not express any opinion with respect to any securities, anti-fraud, derivatives or commodities laws, rules or regulations or Regulations T, U or X of the Board of Governors of the Federal Reserve System.

D-6. The opinions that relate to specific agreements or documents do not extend to documents, agreements or instruments referred to in such agreements or documents (even if incorporated therein by reference), or to any exhibits, annexes, or schedules that are not expressly identified in this opinion letter as having been examined by us.

D-7. We express no opinions in this opinion letter as to any laws or regulations other than the Covered Laws. Our opinions herein are based upon our consideration of only

4.4(a)-4

those New York State and U.S. federal statutes, rules and regulations that in our experience are normally applicable to transactions of the type provided for in the Transaction Agreements. Without limiting the foregoing, we have not examined and we express no opinion as to any matters governed by (i) any banking or insurance company law, rule or regulation, (ii) any law, rule or regulation relating to taxation, (iii) the statutes and ordinances, administrative decisions and rules and regulations of counties, towns, agencies, municipalities and special political subdivisions, (iv) state securities or “Blue Sky” laws, rules and regulations, or (v) federal laws relating to foreign trade or investment or anti-money laundering matters.

D-8. The opinions are limited to those expressly stated and no other opinions should be implied.

D-9. Unless otherwise specifically indicated, the opinions are as of the date of this opinion letter and we assume no obligation to update or supplement the opinions to reflect any facts or circumstances that may later come to our attention or any change in the law that may occur after the date of this opinion letter.

Chapter 2 * * *

This opinion letter is rendered only to the addressees hereof and is solely for each such person’s benefit in connection with the closing of the transactions contemplated by the Note Purchase Agreement. This opinion letter may not be used or relied on for any other purpose or by any other person without our prior written consent; provided, however, that any institutional accredited investors (within the meaning of Rule 501 (a)(1), (2), (3), or (7) under the Securities Act of 1933) that purchase Notes from any of the Purchasers (or any such institutional accredited investors) in accordance with the transfer restrictions and procedures contained in Section 13.2 of the Note Purchase Agreement may rely on this opinion subject to all the assumptions, qualifications, limitations, and exceptions stated herein, as if addressed to such person and dated as of the date hereof, it being understood that we do not express any opinion as to any such sales to any such institutional accredited investors and that we do not assume any obligation to update or otherwise confirm this opinion following the sale of the Notes to the Purchasers on the date hereof for any reason or to opine on the effect of any such sales; and provided further that this opinion letter may be disclosed to, but not relied upon by (a) the National Association of Insurance Commissioners, any governmental, regulatory or other authority or regulators having jurisdiction from time to time over you, (b) affiliates of an addressee, (c) any director, officer or employee of any addressee or any affiliate of an addressee, (d) auditors, legal counsel and other professional advisers of any addressee or any affiliate of an addressee who are in each case subject to a duty of professional confidentiality or a similar contractual confidentiality, or (e) potential transferees of the Notes. In addition, this opinion letter may be furnished by you pursuant to any order or legal process of any court or in connection with any judicial or arbitration process to which you are a party arising out of the transactions contemplated by the Note Purchase Agreement.

Very truly yours,

4.4(a)-5

Exhibit A

Officer’s Certificate

4.4(a)-6

Exhibit B

Offeree Letter

4.4(a)-7

FORM OF OPINION OF SENIOR COUNSEL OF THE PARENT

December [ ], 2016

To Each of the Purchasers

Listed in Schedule A to the

Note Purchase Agreement

Re: Questar Gas Company 3.62% Senior Notes, Series A. due 2046, and 3.67% Senior Notes, Series B, due 2051

Ladies and Gentlemen:

I am Senior Counsel to Dominion Questar Corporation, a Utah corporation and parent company to its wholly-owned subsidiary Questar Gas Company, a Utah corporation (“Questar Gas”). I have represented Questar Gas in connection with the Note Purchase Agreement dated December 15, 2016 (the “Note Purchase Agreement”), among each of the purchasers listed in Schedule A thereto (the “Purchasers”) and Questar Gas, relating to the sale by Questar Gas to the Purchasers of $50 million aggregate principal amount of its 3.62% Senior Notes, Series A, due 2046, and $50 million aggregate principal amount of its 3.67% Senior Notes, Series B, due 2051 (collectively, the “Notes”). This opinion is being furnished to you at the direction of General Counsel for Questar Gas pursuant to Section 4.4 of the Note Purchase Agreement.

In rendering the opinions stated herein, I have examined and relied upon the following:

(a) an executed copy of the Note Purchase Agreement;

(b) executed copies of certificates evidencing the Notes registered in the names of the persons and in the denominations specified in Schedule A to the Note Purchase Agreement (the “Notes Certificates”);

(c) a copy of the Amended and Restated Articles of Incorporation of Questar Gas Company certified by the Utah Department of Commerce, Division of Corporations and Commercial Code (the “Division”) as of December [ ], 2016;

(d) a copy of the Bylaws of Questar Gas Company as amended and in effect as of the date hereto;

(e) the unanimous written consent of the Board of Directors of Questar Gas, dated [, 2016]; and

(f) a copy of a certificate of existence, dated December 14, 2016, issued by the Division as to the good standing of Questar Gas (the “Utah Certificate”).

I have also examined originals or copies, certified or otherwise identified to my satisfaction, of such records of Questar Gas and such agreements, certificates and receipts of public officials, certificates of officers or other representatives of Questar Gas and others, and such other documents as I have deemed necessary or appropriate as a basis for the opinions stated below.

In my examination, I have assumed the genuineness of all signatures (other than those of the officers of Questar Gas) including endorsements, the legal capacity and competency of all natural persons, the authenticity of all documents submitted to me as originals, the conformity to original documents of all documents submitted to me as facsimile, electronic, certified or

Exhibit 4.4(b)

(to Note Purchase Agreement)

Legal Opinion Letter

December [ ], 2016

Page 2

photostatic copies, and the authenticity of the originals of such copies. As to any facts relevant to the opinions stated herein that I did not independently establish or verify, I have relied upon statements and representations of officers and other representatives of Questar Gas and others and of public officials.

I do not express any opinion with respect to the laws of any jurisdiction other than the laws of the State of Utah.

The Note Purchase Agreement and the Note Certificates are referred to herein collectively as the “Transaction Agreements.” As used herein: “Organizational Documents” means those documents listed in paragraphs (c) and (d) above. “Scheduled Contracts” means those agreements or instruments described on Schedule 1 hereto.

Based upon the foregoing and subject to the qualifications and assumptions stated herein, I am of the opinion that:

1. Based solely on my review of the Utah Certificate, Questar Gas is duly incorporated and is validly existing and in good standing under the Utah Revised Business Corporation Act (“URBCA”).

2. Questar Gas has the corporate power and authority to execute and deliver each of the Transaction Agreements and to consummate the transactions contemplated thereby.

3. Each of the Transaction Agreements has been duly authorized, executed and delivered by all requisite corporate action on the part of Questar Gas under the URBCA.

4. Neither the execution and delivery by Questar Gas of the Transaction Agreements, nor the consummation by Questar Gas of the transactions contemplated thereby, including the issuance and sale of the Notes: (i) conflicts with the Organizational Documents or (ii) constitutes a violation of, or a default under, any Scheduled Contract.

5. Neither the execution and delivery by Questar Gas of the Transaction Agreements nor the consummation by Questar Gas of the transactions contemplated thereby, including the issuance and sale of the Notes, nor the performance of its obligations thereunder: (i) violates any law, rule or regulation of the State of Utah; or (ii) requires the consent, approval, licensing or authorization of, or any filing, recording or registration with, any governmental authority under any law, rule or regulation of the State of Utah except for those consents, approvals, licenses, and authorizations already obtained and those filings, recordings and registrations already made.

6. To my knowledge, there are no legal or governmental proceedings pending or threatened to which Questar Gas is a party, or to which any property of Questar Gas is subject, that could reasonably be expected to have a material adverse effect on the ability of Questar Gas to execute and deliver the Note Certificates or consummate the transactions contemplated by the Transaction Agreements.

The opinions stated herein are subject to the following qualifications:

(a) I do not express any opinion whether the execution or delivery of any Transaction Agreement by Questar Gas, or the performance by Questar Gas of its obligations

4.4(b)–2

Legal Opinion Letter

December [ ], 2016

Page 3

under any Transaction Agreement will constitute a violation of, or a default under, any covenant, restriction or provision with respect to financial ratios or tests or any aspect of the financial condition or results of operations of Questar Gas; and

(b) I call to your attention that certain of the Scheduled Contracts are governed by laws other than those with respect to which I express my opinion, and I have not consulted attorneys admitted in any such jurisdiction; the opinions stated herein are based solely upon my understanding of the plain meaning of the language contained in such Scheduled Contracts, and I do not assume any responsibility for any interpretation thereof inconsistent with such understanding.

In rendering the foregoing opinions I have assumed that, except to the extent expressly stated in the opinions contained herein with respect to Questar Gas, neither the execution and delivery by Questar Gas of the Transaction Agreements nor the consummation by Questar Gas of the transactions contemplated thereby, including the issuance and sale of the Notes: (i) constitutes or will constitute a violation of, or a default under, any lease, indenture, instrument, or other agreement to which Questar Gas or its property is subject; (ii) contravenes or will contravene any order or decree of any governmental authority to which Questar Gas or its property is subject; (iii) violates or will violate any law, rule, or regulation to which Questar Gas or its property is subject; or (iv) requires the consent, approval, licensing, or authorization of, or any filing, recording, or registration with, any governmental authority under any law, rule, or regulation of any jurisdiction.

This opinion is furnished only to the Purchasers and is solely for the Purchasers’ benefit in connection with the closing occurring today pursuant to the Note Purchase Agreement. Without my prior written consent, this opinion may not be used, circulated, quoted, or otherwise referred to for any other purpose or relied upon by, or assigned to, any other person for any purpose, including any other person that acquires any Notes or that seeks to assert a Purchaser’s rights in respect of this opinion (other than the Purchasers’ respective successors-in-interest by means of merger, consolidation, transfer of a business, or other similar transaction), provided, however, that any institutional accredited investors (within the meaning of Rule 501 (a)(1), (2), (3), or (7) under the Securities Act) that purchase Notes from any of the Purchasers (or any such institutional accredited investors) in accordance with the transfer restrictions and procedures contained in Section 13.2 of the Note Purchase Agreement may rely on this opinion subject to all the assumptions, qualifications, limitations, and exceptions stated herein, as if addressed to such person and dated as of the date hereof, it being understood that l do not express any opinion as to any such sales to any such institutional accredited investors and that I do not assume any obligation to update or otherwise confirm this opinion following the sale of the Notes to the Purchasers on the date hereof for any reason or to opine on the effect of any such sales, and provided further that this opinion may be furnished to the National Association of Insurance Commissioners of the United States and to any insurance regulatory authority having jurisdiction over the respective Purchaser to the extent required by applicable law or regulation.

Sincerely,

4.4(b)–3

Legal Opinion Letter

December [ ], 2016

Page 4

Schedule 1

Applicable Contracts

Indenture dated as of May 1, 1992 between Questar Gas Company (f/k/a Mountain Fuel Supply Company) and Xxxxx Fargo Bank, National Association, as successor trustee.

Form of Questar Gas Company’s 6.30% Notes due 2018.

Form of Officers’ Certificate, relating to Questar Gas Company’s 6.30% Notes due 2018.

Form of Questar Gas Company’s 7.20% Notes due 2038.

Form of Officers’ Certificate, relating to Questar Gas Company’s 7.20% Notes due 2038.

Form of Questar Gas Company’s 2.98% Senior Notes, Series A, due 2024.

Form of Questar Gas Company’s 3.28% Senior Notes, Series B, due 2027.

Form of Officers’ Certificate, relating to Questar Gas Company’s 2.98% Senior Notes, Series A, due 2024, and 3.28% Senior Notes, Series B, due 2027.

Form of Questar Gas Company’s 4.78% Senior Notes, Series A, due December 1, 2043.

Form of Questar Gas Company’s 4.83% Senior Notes, Series B, due December 1, 2048.

Form of Officers’ Certificate, relating to Questar Gas Company’s 4.78% Senior Notes, Series A, due 2043, and 4.83% Senior Notes, Series B, due 2048.

Stipulation and Agreement, dated October 14, 1981, among Questar Gas Company (f/k/a Mountain Fuel Supply Company); Wexpro Company; the Utah Department of Business Regulations, Division of Public Utilities; the Utah Committee of Consumer Services; and the staff of the Public Service Commission of Wyoming.

Wexpro II Agreement dated September 12, 2012, among Questar Gas Company, Wexpro Company, the Utah Division of Public Utilities, and the Wyoming Office of Consumer Advocate.

Gas Gathering Agreement between Questar Gas Company (f/k/a Mountain Fuel Supply Company) and Questar Pipeline Company effective September 1, 1993.

Amendment to Gas Gathering Agreement between Questar Gas Company (f/k/a Mountain Fuel Supply Company) and Questar Gas Management Company effective September 1, 1997.

Term Loan Agreement by and among Questar Corporation, as Borrower, JPMorgan Chase Bank, N.A., as Administrative Agent, The Bank of Tokyo-Mitsubishi UFJ, Ltd., as Syndication Agent, Mizuho Bank, Ltd., and Xxxxx Fargo Bank, National Association as Documentation Agents, and the Lenders party hereto, dated February 24, 2016.

4.4(b)–4

Legal Opinion Letter

December [ ], 2016

Page 5

Schedule 2

Required Approvals or Filings

None

4.4(b)–5

FORM OF OPINION OF SPECIAL COUNSEL

FOR THE PURCHASERS

[To be provided to the Purchasers only.]

EXHIBIT 4.4(c)

(to Note Purchase Agreement)

FORM OF OFFEREE LETTER

[Date]

Questar Gas Company

000 Xxxxx Xxxxx Xxxxxx

Xxxx Xxxx Xxxx, XX 00000

Stoel Rives LLP

000 Xxxxx Xxxx Xxxxxx, Xxxxx 0000

Xxxx Xxxx Xxxx XX 00000

Xxxxxxx and Xxxxxx LLP

000 Xxxx Xxxxxx Xxxxxx

Xxxxxxx, XX 00000

Ladies and Gentlemen:

We have acted as placement agents for Questar Gas Company (the “Issuer”) in connection with the placement of (i) $50 million aggregate principal amount of 3.62% Senior Notes, Series A, due 2046 and (ii) $50 million aggregate principal amount of 3.67% Senior Notes, Series B, due 2051 (collectively, the “Securities”) of the Issuer.

We hereby inform you that:

(i) we have offered the Securities on behalf of the Issuer to the purchasers of the Securities (the “Purchasers”) and not more than 45 other offerees, and have not made any offer or sale of the Securities to any other person;

(ii) immediately prior to making any offer of Securities, we had reasonable grounds to believe, and did believe, that each offeree (including each Purchaser) (a) was an institutional accredited investor (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act of 1933, as amended (the “Securities Act”)) and (b) had such knowledge and experience in financial and business matters that it was capable of evaluating the merits and risks of its prospective investment in the Securities; and

(iii) we have not offered or sold any Securities by any form of general solicitation or general advertising (within the meaning of Rule 502(c) under the Securities Act).

EXHIBIT 5.13

(to Note Purchase Agreement)

As used herein, the terms “offer” and “sale” have the meanings given to such terms in Section 2 of the Securities Act.

For purposes of this letter, we have treated all Purchasers that are affiliated with each other as one offeree.

This letter is furnished to the Issuer solely for purposes of the representations it is making with respect to the offering of the Securities in the Note Purchase Agreement relating to the Securities and to the respective counsel for the Issuer and the Purchasers solely in connection with their respective legal opinions in connection with the closing of the sale of the Securities. This letter may not be furnished to, or relied upon by, any other person.


Very truly yours,

[MUFG SECURITIES AMERICAS INC. (MUFG)

By:
		Name:
		Title:

MIZUHO SECURITIES USA INC.

By:
		Name:
		Title:

X.X. XXXXXX SECURITIES LLC

By:
		Name:
		Title:]

5.13-2

Document Metadata

Table of Contents

QUESTAR GAS COMPANY $50,000,000 3.62% Senior Notes, Series A, due December 1, 2046 $50,000,000 3.67% Senior Notes, Series B, due December 1, 2051 NOTE PURCHASE AGREEMENT Dated December 15, 2016

Document Metadata