Common use of Cancellation or Adjustment of Global Note Clause in Contracts

Cancellation or Adjustment of Global Note. At such time as all beneficial interests in a Global Note have either been exchanged for Certificated Notes or transferred in exchange for interests in an Unrestricted Global Note, or all of the outstanding Notes shall have been redeemed, repurchased or canceled, such Global Note shall be returned by the Depositary to the Trustee for cancellation as provided in Section 2.12 of the Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for Certificated Notes, transferred in exchange for an interest in another Global Note or redeemed, repurchased or canceled or if a beneficial interest in another Global Note is transferred in exchange for an interest in such Global Note or if Additional Notes are issued and are to be evidenced by such Global Note, then in each case, the Registrar shall cause the aggregate principal amount of the applicable Global Note or Global Notes to be reduced or increased, as applicable, and shall instruct the Note Custodian to decrease or increase, or reflect on its records a decrease or increase, as the case may be, in the principal amount of such Global Note or Global Notes (and to record such decrease or increase, as the case may be, by endorsement on the Schedule attached to each such Global Note in the applicable principal amount). 1 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 2 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 3 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. No.:

Cancellation or Adjustment of Global Note. At such time as all beneficial interests in a Global Note have either been exchanged for Certificated Notes or transferred in A12 exchange for interests in an Unrestricted Global Note, or all of the outstanding Notes shall have been redeemed, repurchased or canceled, such Global Note shall be returned by the Depositary to the Trustee for cancellation as provided in Section 2.12 of the Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for Certificated Notes, transferred in exchange for an interest in another Global Note or redeemed, repurchased or canceled or if a beneficial interest in another Global Note is transferred in exchange for an interest in such Global Note or if Additional Notes or Exchange Notes are issued and are to be evidenced by such Global Note, then in each case, the Registrar shall cause the aggregate principal amount of the applicable Global Note or Global Notes to be reduced or increased, as applicable, and shall instruct the Note Custodian to decrease or increase, or reflect on its records a decrease or increase, as the case may be, in the principal amount of such Global Note or Global Notes (and to record such decrease or increase, as the case may be, by endorsement on the Schedule attached to each such Global Note in the applicable principal amount). 1 A13 (1) Not required for Exchange Notes or other Notes that do not bear and are not required to bear a Restricted Notes Legend. 2 . (2) Not required for Exchange Notes or other Notes that do not bear and are not required to bear a Restricted Notes Legend. 3 . (3) Not required for Exchange Notes or other Notes that do not bear and are not required to bear a Restricted Notes Legend. No.:

Cancellation or Adjustment of Global Note. At such time as all beneficial interests in a Global Note have either been exchanged for Certificated Notes or transferred in exchange for interests in an Unrestricted Global Note, or all of the outstanding Notes shall have been redeemed, repurchased or canceled, such Global Note shall be returned by the Depositary to the Trustee for cancellation as provided in Section 2.12 of the Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for Certificated Notes, transferred in exchange for an interest in another Global Note or redeemed, repurchased or canceled or if a beneficial interest in another Global Note is transferred in exchange for an interest in such Global Note or if Additional Notes are issued and are to be evidenced by such Global Note, then in each case, the Registrar shall cause the aggregate principal amount of the applicable Global Note or Global Notes to be reduced or increased, as applicable, and shall instruct the Note Custodian to decrease or increase, or reflect on its records a decrease or increase, as the case may be, in the principal amount of such Global Note or Global Notes (and to record such decrease or increase, as the case may be, by endorsement on the Schedule attached to each such Global Note in the applicable principal amount). 1 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 2 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 3 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. No.:: CUSIP No.: [●]4 ISIN No.: [●]5 Rithm Capital Corp., a Delaware corporation, promises to pay to [ ], or registered assigns, the principal sum [of [ ] Dollars]6 [set forth on the Schedule of Increases or Decreases in Global Note attached hereto (as the same may be revised from time to time)]7 on April 1, 2029. Interest Payment Dates: April 1 and October 1, commencing on October 1, 2024. Record Dates: March 15 and September 15. Reference is made to the further provisions of this Note set forth on the reverse hereof, which will for all purposes have the same effect as if set forth at this place. 4 Rule 144A Note CUSIP: 64828T AB8 Regulation S Note CUSIP: U76664 AA6 Unrestricted Note CUSIP: [ ] 5 Rule 144A Note ISIN: US64828TAB89 Regulation S Note ISIN: USU76664AA65 Unrestricted Note ISIN: [ ] 6 Insert for Certificated Notes.

Cancellation or Adjustment of Global Note. At such time as all beneficial interests in a Global Note have either been exchanged for Certificated Notes or transferred in exchange for interests in an Unrestricted Global Note, or all of the outstanding Notes shall have been redeemed, repurchased or canceled, such Global Note shall be returned by the Depositary to the Trustee for cancellation as provided in Section 2.12 of the Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for Certificated Notes, transferred in exchange for an interest in another Global Note or redeemed, repurchased or canceled or if a beneficial interest in another Global Note is transferred in exchange for an interest in such Global Note or if Additional Notes are issued and are to be evidenced by such Global Note, then in each case, the Registrar shall cause the aggregate principal amount of the applicable Global Note or Global Notes to be reduced or increased, as applicable, and shall instruct the Note Custodian to decrease or increase, or reflect on its records a decrease or increase, as the case may be, in the principal amount of such Global Note or Global Notes (and to record such decrease or increase, as the case may be, by endorsement on the Schedule attached to each such Global Note in the applicable principal amount). 1 . (1) Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 2 . (2) Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 3 . (3) Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. No.:: CUSIP No.: [•](4) ISIN No.: [•](5) HAT Holdings I LLC and HAT Holdings II LLC, each a Maryland limited liability company, promises to pay to [ ], or registered assigns, the principal sum [of [ ] Dollars](6) [set forth on the Schedule of Increases or Decreases in Global Note attached hereto (as the same may be revised from time to time)](7) on June 15, 2027. Interest Payment Dates: June 15 and December 15, commencing on June 15, 2024. Record Dates: June 1 and December 1. Reference is made to the further provisions of this Note set forth on the reverse hereof, which will for all purposes have the same effect as if set forth at this place. (4) Rule 144A Note CUSIP: 418751 AL7 Regulation S Note CUSIP: U2467R AF6 (5) Rule 144A Note ISIN: US418751AL75 Regulation S Note ISIN: USU2467RAF65 (6) Insert for Certificated Notes.

Cancellation or Adjustment of Global Note. At such time as all beneficial interests in a Global Note have either been exchanged for Certificated Notes or transferred in exchange for interests in an Unrestricted Global Note, or all of the outstanding Notes shall have been redeemed, repurchased or canceled, such Global Note shall be returned by the Depositary to the Trustee for cancellation as provided in Section 2.12 of the Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for Certificated Notes, transferred in exchange for an interest in another Global Note or redeemed, repurchased or canceled or if a beneficial interest in another Global Note is transferred in exchange for an interest in such Global Note or if Additional Notes are issued and are to be evidenced by such Global Note, then in each case, the Registrar shall cause the aggregate principal amount of the applicable Global Note or Global Notes to be reduced or increased, as applicable, and shall instruct the Note Custodian to decrease or increase, or reflect on its records a decrease or increase, as the case may be, in the principal amount of such Global Note or Global Notes (and to record such decrease or increase, as the case may be, by endorsement on the Schedule attached to each such Global Note in the applicable principal amount). 1 . (1) Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 2 . (2) Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 3 . (3) Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. No.:: CUSIP No.: [●](4) ISIN No.: [●](5) HAT Holdings I LLC and HAT Holdings II LLC, each a Maryland limited liability company, promises to pay to [ ], or registered assigns, the principal sum [of [ ] Dollars](6) [set forth on the Schedule of Increases or Decreases in Global Note attached hereto (as the same may be revised from time to time)](7) on April 15, 2025. Interest Payment Dates: April 15 and October 15, commencing on October 15, 2020. Record Dates: April 1 and October 1. Reference is made to the further provisions of this Note set forth on the reverse hereof, which will for all purposes have the same effect as if set forth at this place. (4) Rule 144A Note CUSIP: 418751 AB9 Regulation S Note CUSIP: U2467R AC3 (5) Rule 144A Note ISIN: US418751AB93 Regulation S Note ISIN: USU2467RAC35 (6) Insert for Certificated Notes.

Cancellation or Adjustment of Global Note. At such time as all beneficial interests in a Global Note have either been exchanged for Certificated Notes or transferred in exchange for interests in an Unrestricted Global Note, or all of the outstanding Notes shall have been redeemed, repurchased or canceled, such Global Note shall be returned by the Depositary to the Trustee for cancellation as provided in Section 2.12 of the Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for Certificated Notes, transferred in exchange for an interest in another Global Note or redeemed, repurchased or canceled or if a beneficial interest in another Global Note is transferred in exchange for an interest in such Global Note or if Additional Notes are issued and are to be evidenced by such Global Note, then in each case, the Registrar shall cause the aggregate principal amount of the applicable Global Note or Global Notes to be reduced or increased, as applicable, and shall instruct the Note Custodian to decrease or increase, or reflect on its records a decrease or increase, as the case may be, in the principal amount of such Global Note or Global Notes (and to record such decrease or increase, as the case may be, by endorsement on the Schedule attached to each such Global Note in the applicable principal amount). 1 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 2 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 3 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. No.:: CUSIP No.: [●]4 ISIN No.: [●]5 Starwood Property Trust, Inc., a Maryland corporation, promises to pay to [ ], or registered assigns, the principal sum [of [ ] Dollars]6 [set forth on the Schedule of Increases or Decreases in Global Note attached hereto (as the same may be revised from time to time)]7 on November 1, 2023.

Cancellation or Adjustment of Global Note. At such time as all beneficial interests in a Global Note have either been exchanged for Certificated Notes or transferred in exchange for interests in an Unrestricted Global Note, or all of the outstanding Notes shall have been redeemed, repurchased or canceled, such Global Note shall be returned by the Depositary to the Trustee for cancellation as provided in Section 2.12 of the Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for Certificated Notes, transferred in exchange for an interest in another Global Note or redeemed, repurchased or canceled or if a beneficial interest in another Global Note is transferred in exchange for an interest in such Global Note or if Additional Notes are issued and are to be evidenced by such Global Note, then in each case, the Registrar shall cause the aggregate principal amount of the applicable Global Note or Global Notes to be reduced or increased, as applicable, and shall instruct the Note Custodian to decrease or increase, or reflect on its records a decrease or increase, as the case may be, in the principal amount of such Global Note or Global Notes (and to record such decrease or increase, as the case may be, by endorsement on the Schedule attached to each such Global Note in the applicable principal amount). 1 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 2 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 3 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. No.:

Cancellation or Adjustment of Global Note. At such time as all beneficial interests in a Global Note have either been exchanged for Certificated Notes or transferred in exchange for interests in an Unrestricted Global Note, or all of the outstanding Notes shall have been redeemed, repurchased or canceled, such Global Note shall be returned by the Depositary to the Trustee for cancellation as provided in Section 2.12 of the Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for Certificated Notes, transferred in exchange for an interest in another Global Note or redeemed, repurchased or canceled or if a beneficial interest in another Global Note is transferred in exchange for an interest in such Global Note or if Additional Notes are issued and are to be evidenced by such Global Note, then in each case, the Registrar shall cause the aggregate principal amount of the applicable Global Note or Global Notes to be reduced or increased, as applicable, and shall instruct the Note Custodian to decrease or increase, or reflect on its records a decrease or increase, as the case may be, in the principal amount of such Global Note or Global Notes (and to record such decrease or increase, as the case may be, by endorsement on the Schedule attached to each such Global Note in the applicable principal amount). 1 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 2 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 3 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. No.:: Apollo Commercial Real Estate Finance, Inc., a Maryland corporation, promises to pay to [ ], or registered assigns, the principal sum [of [ ] Dollars]6 [set forth on the Schedule of Increases or Decreases in Global Note attached hereto (as the same may be revised from time to time)]7 on June 15, 2029. Interest Payment Dates: June 15 and December 15, commencing December 15, 2021. Record Dates: June 1 and December 1. Reference is made to the further provisions of this Note set forth on the reverse hereof, which will for all purposes have the same effect as if set forth at this place. 4 Rule 144A Note CUSIP: 03762U AD7 Regulation S Note CUSIP: U0044U AA6 5 Rule 144A Note ISIN: US03762UAD72 Regulation S Note ISIN: USU0044UAA61 6 Insert for Certificated Notes. 7 Insert for Global Notes. If the Note is to be issued in global form, also include the attachment hereto captioned “SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE”. IN WITNESS WHEREOF, the Company has caused this Note to be signed manually or by facsimile by one of its duly authorized Officers. APOLLO COMMERCIAL REAL ESTATE FINANCE, INC. By: Name: Title: This is one of the 4.625% Senior Secured Notes due 2029 described in the within-mentioned Indenture. Dated: ▇▇▇▇▇ FARGO BANK, NATIONAL ASSOCIATION, as Trustee By: Authorized Signatory

Cancellation or Adjustment of Global Note. At such time as all beneficial interests in a Global Note have either been exchanged for Certificated Notes or transferred in exchange for interests in an Unrestricted Global Note, or all of the outstanding Notes shall have been redeemed, repurchased or canceled, such Global Note shall be returned by the Depositary to the Trustee for cancellation as provided in Section 2.12 of the Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for Certificated Notes, transferred in exchange for an interest in another Global Note or redeemed, repurchased or canceled or if a beneficial interest in another Global Note is transferred in exchange for an interest in such Global Note or if Additional Notes are issued and are to be evidenced by such Global Note, then in each case, the Registrar shall cause the aggregate principal amount of the applicable Global Note or Global Notes to be reduced or increased, as applicable, and shall instruct the Note Custodian to decrease or increase, or reflect on its records a decrease or increase, as the case may be, in the principal amount of such Global Note or Global Notes (and to record such decrease or increase, as the case may be, by endorsement on the Schedule attached to each such Global Note in the applicable principal amount). 1 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 2 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 3 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. No.:: Rithm Capital Corp., a Delaware corporation, promises to pay to [ ], or registered assigns, the principal sum [of [ ] Dollars]6 [set forth on the Schedule of Increases or Decreases in Global Note attached hereto (as the same may be revised from time to time)]7 on July 15, 2030. Interest Payment Dates: January 15 and July 15, commencing on January 15, 2026. Record Dates: January 1 and July 1. Reference is made to the further provisions of this Note set forth on the reverse hereof, which will for all purposes have the same effect as if set forth at this place. 4 Rule 144A Note CUSIP: 64828T AC6 Regulation S Note CUSIP: U65228 AC9 Unrestricted Note CUSIP: [ ] 5 Rule 144A Note ISIN: US64828TAC62 Regulation S Note ISIN: USU65228AC99 Unrestricted Note ISIN: [ ] 6 Insert for Certificated Notes.

Cancellation or Adjustment of Global Note. At such time as all beneficial interests in a Global Note have either been exchanged for Certificated Notes or transferred in exchange for interests in an Unrestricted Global Note, or all of the outstanding Notes shall have been redeemed, repurchased or canceled, such Global Note shall be returned by the Depositary to the Trustee for cancellation as provided in Section 2.12 of the Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for Certificated Notes, transferred in exchange for an interest in another Global Note or redeemed, repurchased or canceled or if a beneficial interest in another Global Note is transferred in exchange for an interest in such Global Note or if Additional Notes are issued and are to be evidenced by such Global Note, then in each case, the Registrar shall cause the aggregate principal amount of the applicable Global Note or Global Notes to be reduced or increased, as applicable, and shall instruct the Note Custodian to decrease or increase, or reflect on its records a decrease or increase, as the case may be, in the principal amount of such Global Note or Global Notes (and to record such decrease or increase, as the case may be, by endorsement on the Schedule attached to each such Global Note in the applicable principal amount). 1 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 2 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 3 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. No.:: CUSIP No.: [●]4 ISIN No.: [●]5 New Residential Investment Corp., a Delaware corporation, promises to pay to [ ], or registered assigns, the principal sum [of [ ] Dollars]6 [set forth on the Schedule of Increases or Decreases in Global Note attached hereto (as the same may be revised from time to time)]7 on October 15, 2025. Interest Payment Dates: April 15 and October 15, commencing on April 15, 2021. Record Dates: April 1 and October 1. Reference is made to the further provisions of this Note set forth on the reverse hereof, which will for all purposes have the same effect as if set forth at this place. 4 Rule 144A Note CUSIP: 64828T AA0 Regulation S Note CUSIP: U65228 AA3 Unrestricted Note CUSIP: [ ] 5 Rule 144A Note ISIN: US64828TAA07 Regulation S Note ISIN: USU65228AA34 Unrestricted Note ISIN: [ ] 6 Insert for Certificated Notes. 7 Insert for Global Notes. If the Note is to be issued in global form, also include the attachment hereto captioned “SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE”.

Cancellation or Adjustment of Global Note. At such time as all beneficial interests in a Global Note have either been exchanged for Certificated Notes or transferred in exchange for interests in an Unrestricted Global Note, or all of the outstanding Notes shall have been redeemed, repurchased or canceled, such Global Note shall be returned by the Depositary to the Trustee for cancellation as provided in Section 2.12 of the Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for Certificated Notes, transferred in exchange for an interest in another Global Note or redeemed, repurchased or canceled or if a beneficial interest in another Global Note is transferred in exchange for an interest in such Global Note or if Additional Notes are issued and are to be evidenced by such Global Note, then in each case, the Registrar shall cause the aggregate principal amount of the applicable Global Note or Global Notes to be reduced or increased, as applicable, and shall instruct the Note Custodian to decrease or increase, or reflect on its records a decrease or increase, as the case may be, in the principal amount of such Global Note or Global Notes (and to record such decrease or increase, as the case may be, by endorsement on the Schedule attached to each such Global Note in the applicable principal amount). 1 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 2 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 3 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. No.:: Blackstone Mortgage Trust, Inc., a Maryland corporation, promises to pay to [ ], or registered assigns, the principal sum [of [ ] Dollars]6 [set forth on the Schedule of Increases or Decreases in Global Note attached hereto (as the same may be revised from time to time)]7 on January 15, 2027. Interest Payment Dates: January 15 and July 15, commencing July 15, 2022. Record Dates: January 1 and July 1. Reference is made to the further provisions of this Note set forth on the reverse hereof, which will for all purposes have the same effect as if set forth at this place. 4 Rule 144A Note CUSIP: ▇▇▇▇▇▇▇▇▇ Regulation S Note CUSIP: ▇▇▇▇▇▇▇▇ 5 Rule 144A Note ISIN: US09257WAD20 Regulation S Note ISIN: USU0926MAA72 6 Insert for Certificated Notes. 7 Insert for Global Notes. If the Note is to be issued in global form, also include the attachment hereto captioned “SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE”. IN WITNESS WHEREOF, the Company has caused this Note to be signed manually or by facsimile by one of its duly authorized Officers. BLACKSTONE MORTGAGE TRUST, INC. By: Name: Title: This is one of the 3.750% Senior Secured Notes due 2027 described in the within-mentioned Indenture. Dated: THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee By: Authorized Signatory

Cancellation or Adjustment of Global Note. At such time as all beneficial interests in a Global Note have either been exchanged for Certificated Notes or transferred in exchange for interests in an Unrestricted Global Note, or all of the outstanding Notes shall have been redeemed, repurchased or canceled, such Global Note shall be returned by the Depositary to the Trustee for cancellation as provided in Section 2.12 of the Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for Certificated Notes, transferred in exchange for an interest in another Global Note or redeemed, repurchased or canceled or if a beneficial interest in another Global Note is transferred in exchange for an interest in such Global Note or if Additional Notes are issued and are to be evidenced by such Global Note, then in each case, the Registrar shall cause the aggregate principal amount of the applicable Global Note or Global Notes to be reduced or increased, as applicable, and shall instruct the Note Custodian to decrease or increase, or reflect on its records a decrease or increase, as the case may be, in the principal amount of such Global Note or Global Notes (and to record such decrease or increase, as the case may be, by endorsement on the Schedule attached to each such Global Note in the applicable principal amount). 1 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 2 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 3 Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. No.:: Starwood Property Trust, Inc., a Maryland corporation, promises to pay to [ ], or registered assigns, the principal sum [of [ ] Dollars]6 [set forth on the Schedule of Increases or Decreases in Global Note attached hereto (as the same may be revised from time to time)]7 on October 15, 2030. Interest Payment Dates: April 15 and October 15, commencing on October 15, 2025. Record Dates: April 1 and October 1 Reference is made to the further provisions of this Note set forth on the reverse hereof, which will for all purposes have the same effect as if set forth at this place. 4 Rule 144A Note CUSIP: 85571B BE4 Regulation S Note CUSIP: U85656 AM5 5 Rule 144A Note ISIN: US85571BBE48 Regulation S Note ISIN: USU85656AM54 6 Insert for Certificated Notes.

Cancellation or Adjustment of Global Note. At such time as all beneficial interests in a Global Note have either been exchanged for Certificated Notes or transferred in exchange for interests in an Unrestricted Global Note, or all of the outstanding Notes shall have been redeemed, repurchased or canceled, such Global Note shall be returned by the Depositary to the Trustee for cancellation as provided in Section 2.12 of the Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for Certificated Notes, transferred in exchange for an interest in another Global Note or redeemed, repurchased or canceled or if a beneficial interest in another Global Note is transferred in exchange for an interest in such Global Note or if Additional Notes are issued and are to be evidenced by such Global Note, then in each case, the Registrar shall cause the aggregate principal amount of the applicable Global Note or Global Notes to be reduced or increased, as applicable, and shall instruct the Note Custodian to decrease or increase, or reflect on its records a decrease or increase, as the case may be, in the principal amount of such Global Note or Global Notes (and to record such decrease or increase, as the case may be, by endorsement on the Schedule attached to each such Global Note in the applicable principal amount). 1 . (1) Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 2 . (2) Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 3 . (3) Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. No.:: CUSIP No.: [•](4) ISIN No.: [•](5) HAT Holdings I LLC and HAT Holdings II LLC, each a Maryland limited liability company, promises to pay to [ ], or registered assigns, the principal sum [of [ ] Dollars](6) [set forth on the Schedule of Increases or Decreases in Global Note attached hereto (as the same may be revised from time to time)](7) on July 15, 2024. Interest Payment Dates: January 15 and July 15, commencing on January 15, 2020. Record Dates: January 1 and July 1. Reference is made to the further provisions of this Note set forth on the reverse hereof, which will for all purposes have the same effect as if set forth at this place. (4) Rule 144A Note CUSIP: 418751 AA1 Regulation S Note CUSIP: U2467R AA7 (5) Rule 144A Note ISIN: US418751AA11 Regulation S Note ISIN: USU2467RAA78 (6) Insert for Certificated Notes.

Cancellation or Adjustment of Global Note. At such time as all beneficial interests in a Global Note have either been exchanged for Certificated Notes or transferred in exchange for interests in an Unrestricted Global Note, or all of the outstanding Notes shall have been redeemed, repurchased or canceled, such Global Note shall be returned by the Depositary to the Trustee for cancellation as provided in Section 2.12 of the Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for Certificated Notes, transferred in exchange for an interest in another Global Note or redeemed, repurchased or canceled or if a beneficial interest in another Global Note is transferred in exchange for an interest in such Global Note or if Additional Notes are issued and are to be evidenced by such Global Note, then in each case, the Registrar shall cause the aggregate principal amount of the applicable Global Note or Global Notes to be reduced or increased, as applicable, and shall instruct the Note Custodian to decrease or increase, or reflect on its records a decrease or increase, as the case may be, in the principal amount of such Global Note or Global Notes (and to record such decrease or increase, as the case may be, by endorsement on the Schedule attached to each such Global Note in the applicable principal amount). 1 . (1) Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 2 . (2) Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 3 . (3) Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. No.:: CUSIP No.: [•](4) ISIN No.: [•](5) HAT Holdings I LLC and HAT Holdings II LLC, each a Maryland limited liability company, promises to pay to [ ], or registered assigns, the principal sum [of [ ] Dollars](6) [set forth on the Schedule of Increases or Decreases in Global Note attached hereto (as the same may be revised from time to time)](7) on September 15, 2030. Interest Payment Dates: February 15 and August 15, commencing on February 15, 2021. Record Dates: February 1 and August 1. Reference is made to the further provisions of this Note set forth on the reverse hereof, which will for all purposes have the same effect as if set forth at this place.

Cancellation or Adjustment of Global Note. At such time as all beneficial interests in a Global Note have either been exchanged for Certificated Notes or transferred in exchange for interests in an Unrestricted Global Note, or all of the outstanding Notes shall have been redeemed, repurchased or canceled, such Global Note shall be returned by the Depositary to the Trustee for cancellation as provided in Section 2.12 of the Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for Certificated Notes, transferred in exchange for an interest in another Global Note or redeemed, repurchased or canceled or if a beneficial interest in another Global Note is transferred in exchange for an interest in such Global Note or if Additional Notes or Exchange Notes are issued and are to be evidenced by such Global Note, then in each case, the Registrar shall cause the aggregate principal amount of the applicable Global Note or Global Notes to be reduced or increased, as applicable, and shall instruct the Note Custodian to decrease or increase, or reflect on its records a decrease or increase, as the case may be, in the principal amount of such Global Note or Global Notes (and to record such decrease or increase, as the case may be, by endorsement on the Schedule attached to each such Global Note in the applicable principal amount). 1 . (1) Not required for Exchange Notes or other Notes that do not bear and are not required to bear a Restricted Notes Legend. 2 . (2) Not required for Exchange Notes or other Notes that do not bear and are not required to bear a Restricted Notes Legend. 3 . (3) Not required for Exchange Notes or other Notes that do not bear and are not required to bear a Restricted Notes Legend. No.:

Cancellation or Adjustment of Global Note. At such time as all beneficial interests in a Global Note have either been exchanged for Certificated Notes or transferred in exchange for interests in an Unrestricted Global Note, or all of the outstanding Notes shall have been redeemed, repurchased or canceled, such Global Note shall be returned by the Depositary to the Trustee for cancellation as provided in Section 2.12 of the Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for Certificated Notes, transferred in exchange for an interest in another Global Note or redeemed, repurchased or canceled or if a beneficial interest in another Global Note is transferred in exchange for an interest in such Global Note or if Additional Notes are issued and are to be evidenced by such Global Note, then in each case, the Registrar shall cause the aggregate principal amount of the applicable Global Note or Global Notes to be reduced or increased, as applicable, and shall instruct the Note Custodian to decrease or increase, or reflect on its records a decrease or increase, as the case may be, in the principal amount of such Global Note or Global Notes (and to record such decrease or increase, as the case may be, by endorsement on the Schedule attached to each such Global Note in the applicable principal amount). 1 . (1) Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 2 . (2) Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. 3 . (3) Not required for Notes that do not bear and are not required to bear a Restricted Notes Legend. No.:: CUSIP No.: [●](4) ISIN No.: [●](5) HAT Holdings I LLC and HAT Holdings II LLC, each a Maryland limited liability company, promises to pay to [ ], or registered assigns, the principal sum [of [ ] Dollars](6) [set forth on the Schedule of Increases or Decreases in Global Note attached hereto (as the same may be revised from time to time)](7) on June 15, 2026. Interest Payment Dates: June 15 and December 15, commencing on December 15, 2021. Record Dates: June 1 and December 1. Reference is made to the further provisions of this Note set forth on the reverse hereof, which will for all purposes have the same effect as if set forth at this place.