Bombardier-7.875-USC10602BG11 | BondbloX Bond Exchange

On or after April 15, 2022, the Corporation may, at its option, on one or more occasions, redeem all or any portion of the Securities, after giving the required notice thereof in accordance with Section 10.02 – Election to Redeem; Notice to Trustee and Section 10.04 – 79 Notice of Redemption, at the Redemption Prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest, if any, to but excluding the Redemption Date, if redeemed during the 12-month period commencing on April 15 of the years indicated below, subject to the right of Holders of record on a Regular Record Date to receive interest due on the respective Interest Payment Date:

2022 - 103.93750%
2023 - 101.96875%
2024 and thereafter - 100.00000%

Legal Defeasance And Covenant Defeasance

Section 11.01 Corporation’s Option to Effect Legal Defeasance or Covenant Defeasance

The Corporation may at any time, at its option, by Board Resolution, elect to have either Section 11.02 – Legal Defeasance or Section 11.03 – Covenant Defeasance applied to the Outstanding Securities upon compliance with the applicable conditions set forth in this Article Eleven.

Section 11.02 Legal Defeasance

At the option of the Corporation and at any time, the Corporation may elect to be discharged from any and all obligations with respect to the Securities (“Legal Defeasance”) and cure all then-existing Events of Default, except for the following rights, obligations, powers, trusts, duties and immunities which shall survive until otherwise terminated or discharged hereunder: (i) the rights of the Holders the Securities to receive, solely out of the trust created pursuant to Section 11.04 – Conditions to Legal Defeasance or Covenant Defeasance, payments in respect of the principal of, and any premium, Additional Amounts and interest on, the Securities when and as such payments shall become due; (ii) the Corporation’s obligations with respect to the Securities under Section 3.04 – Temporary Securities, Section 3.05 – Registrar, Transfer Agent and Paying Agent, Section 3.06 – Registration, Transfer and Exchange and Section 3.09 – Mutilated, Defaced, Destroyed, Lost or Wrongfully Taken Securities; (iii) the rights, powers, trusts, duties and immunities of the Trustees hereunder (including, without limitation, Section 6.03 – Protection of Trustees); (iv) the rights and obligations under this Article Eleven; and (v) the rights and obligations described in the last paragraph of Section 4.01 – Satisfaction and Discharge of Indenture. The Trustees, at the expense of the Corporation, shall execute proper instruments acknowledging any Legal Defeasance. Subject to compliance with this Article Eleven, the Corporation may exercise its option with respect to Legal Defeasance under this Section 11.02 notwithstanding the prior exercise of its option with respect to Covenant Defeasance under Section 11.03 – Covenant Defeasance with respect to the Securities.

Section 11.03 Covenant Defeasance

Upon the Corporation’s exercise of the option provided in Section 11.01 – Corporation’s Option to Effect Legal Defeasance or Covenant Defeasance to obtain a Covenant Defeasance with respect to the Securities, the Corporation shall be released from its obligations under Section 9.02  Negative Pledge and Subsidiary Guarantees, clause (c) of Section 9.03 – 81 Reporting; Certificates of Compliance, Section 9.04 – Offer to Purchase Securities Upon a Change of Control, Section 9.06 – Maintenance of Corporate Existence and Section 9.07 – Disposition as a Whole with respect to the Securities on and after the date that the applicable conditions set forth in Section 11.04 – Conditions to Legal Defeasance or Covenant Defeasance shall be satisfied. The term “Covenant Defeasance” means that, with respect to the Securities, the Corporation may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any of Section 9.02 – Negative Pledge and Subsidiary Guarantees, clause (c) of Section 9.03  Reporting; Certificates of Compliance, Section 9.04 – Offer to Purchase Securities Upon a Change of Control, Section 9.06 – Maintenance of Corporate Existence and Section 9.07 – Disposition as a Whole, whether directly or indirectly by reason of any reference elsewhere herein to such Section or Article or by reason of any reference in such Section or Article to any other provision herein or in any other document, and such omission to comply shall not constitute an Event of Default under Section 5.01 – Event of Default with respect to the Securities; but the remaining provisions of this Indenture and the other terms of the Securities shall be unaffected thereby.

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