exv4w1



 





Exhibit 4.1




 





ELI LILLY AND COMPANY




and




CITIBANK, N.A.

 






Debt Securities




 






Indenture




 






Dated as of February 1, 1991




 






 





 









 





          INDENTURE, dated as of February 1, 1991 (the “Indenture”), between ELI LILLY AND COMPANY, a
corporation duly organized and existing under the laws of the State of Indiana (herein called the
“Company”), having its principal office at Lilly Corporate Center, Indianapolis, Indiana 46285 and
CITIBANK, N.A., a national banking association organized and existing under the laws of the United
States of America (herein called the “Trustee”).




          RECITALS OF THE COMPANY




          WHEREAS, the Company has duly authorized the issue, in one or more series as in this
Indenture provided, from time to time of its debt securities (hereinafter called the “Securities”)
and, to provide the general terms and conditions upon which the Securities are to be authenticated,
issued and delivered, the Company has duly authorized the execution and delivery of this Indenture;




          WHEREAS, the Trustee has the power to enter into this Indenture and to accept and execute the
trusts herein created; and




          WHEREAS, the Company represents that all acts and things necessary to make the Securities,
when executed by the Company and authenticated and delivered by the Trustee as in this Indenture
provided, and issued, the valid, binding and legal obligations of the Company, will, at the time of
such execution, authentication and delivery, have been done and performed; that all acts and things
necessary to constitute these presents a valid indenture and agreement according to its terms, have
been done and performed; that the execution of this Indenture has in all respects been duly
authorized, and that the issue hereunder of the Securities will, at the time of the issue thereof,
have in all respects been duly authorized; and the Company, in the exercise of each and every legal
right and power in it vested, executes this Indenture and proposes to make, execute, issue and
deliver the Securities;




          NOW THEREFORE, in consideration of the premises and the purchase and acceptance of the
Securities by the holders thereof, the Company mutually covenants and agrees with the Trustee, for
the equal and proportionate benefit of the respective holders from time to time of the Securities
or of series thereof, as follows:





 









 








PARAGRAPH
A. INCORPORATION BY REFERENCE




     Articles One through Thirteen of the Eli Lilly and Company Standard Multiple-Series
Indenture Provisions dated, and filed with the Securities and Exchange Commission on, December 20,
1990 (herein called the “Standard Provisions”), a copy of which is attached hereto as Annex “A”,
are hereby incorporated herein by reference with the same force and effect as though fully set out
herein.



PARAGRAPH B. ADDITIONAL PROVISIONS




     Each of the following provisions, which constitute part of this indenture, is numbered
to conform with the format of the Standard Provisions:




     SECTION 7.13. At the date of this Indenture, the Corporate Trust office is located
at 120 Wall Street, New York, N.Y. 10043, except that, with respect to presentation of
Securities for payment or registration of transfers and exchanges and the location of the
Security Registrar, the Corporate Trust office is located at the office or agency of the
Trustee in said city at which any particular time its corporate agency business shall be
conducted, which at the date hereof is located at 111 Wall Street, New York, N.Y. 10043.



ARTICLE FOURTEEN




Miscellaneous Provisions





     SECTION
14.01. Counterparts. This Indenture may be executed in any number
of counterparts, each of which shall be an original, but such counterparts shall together
constitute but one and the same instrument.



2









 





     IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed
and their respective corporate seals to be hereunto affixed and attested, all as of the day and
year first above written.



	 	 	 	 	 
	 	ELI LILLY AND COMPANY 

 	 
	 	By:  	      /s/
James M. Cornelius	 
	 	 	James M. Cornelius  	 
	 	 	Vice President, Finance 	 
	 



[Seal]




ATTEST:




					
	     /s/
Fred B. Croner, Jr.	 	 
	 

	 	Fred B. Croner, Jr.	 	 
	 

	 	Assistant Secretary
	 	 






	 	 	 	 	 
	 	CITIBANK, N.A. 

Trustee

 	 
	 	By:  	     /s/
E. Gibbons	 
	 	 	Name: 	E. GIBBONS	 
	 	 	Title: 	Senior Trust Officer	 
	 



[Seal]




ATTEST:




			
	     /s/
Pam Y. Cote	 	 
	Name: 
	PAM Y. COTE	 
	Title:
	TRUST OFFICER	 







3









 










	 	 	 	 	 
	STATE OF INDIANA

	 	 	)	 
	 

	 	 	)	      ss.:
	COUNTY OF MARION

	 	 	)	 






          On the 6th day of February, 1991, before me personally came James M. Cornelius, to me
known, who, being by me duly sworn, did depose and say that he is Vice President, Finance, of ELI
LILLY AND COMPANY, one of the corporations described in and which executed the foregoing
instrument; that he knows the seal of said corporation; that the seal affixed to said instrument is
such corporate seal; that it was so affixed by authority of the Board of Directors of said
corporation, and that he signed his name thereto by like authority.




	 	 	 	 	 
	 

	 	/s/ [ILLEGIBLE]
	 	 
	 

	 	 

Notary Public
	 	 
	 	 	 	 	 
	 

	 	[ILLEGIBLE]

	 	 






	 	 	 	 	 
	STATE OF NEW YORK

	 	 	)	 
	 

	 	 	)	      ss. :

	COUNTY OF NEW YORK

	 	 	)	 






        On
the 8th day of February, 1991, before me
personally came E. GIBBONS Senior Trust, to me known,
who, being by me duly sworn, did depose and say that he is Senior
Trust Officer of CITIBANK, N.A., one of the corporations described in and which executed the foregoing
instrument; that he knows the seal of said corporation; that the seal affixed to said instrument is
such corporate seal; that it was so affixed by authority of the Board of Directors of said
corporation, and that he signed his name thereto by like authority.




					
	 

	 	
/s/ Nancy H. Forte
	 	 
	 

	 	 

Notary Public
	 	 









					
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 

	 	
NANCY H. FORTE
	 	 
	 

	 	
Notary Public, State of New York
	 	 
	 

	 	
No. 41-4902389
	 	 
	 

	 	
Qualified in Queens County
	 	 
	 

	 	
Certificate Filed in New York County
	 	 
	 

	 	
Commission Expires Aug. 3, 1991
	 	 






4









 








Exhibit Index




	 	 	 	 	 
	Exhibit	 	Description	 	 
	Number	 	of Exhibit	 	Page
	4.1

	 	Form of Medium-Term Note
(Floating Rate — Book-Entry).	 	 
	 
	 	 	 	 
	4.2

	 	Form of Medium-Term Note
(Floating Rate — Certificated).	 	 
	 
	 	 	 	 
	4.3

	 	Form of Medium-Term Note (Fixed Rate —
Book-Entry).	 	 
	 
	 	 	 	 
	4.4

	 	Form of Medium-Term Note (Fixed Rate —
Certificated).	 	 







5









 







Annex A




EXHIBIT 4.17



STANDARD MULTIPLE-SERIES

INDENTURE PROVISIONS

DATED FEBRUARY 1, 1991




 





ELI LILLY AND COMPANY




 






Standard Multiple-Series

Indenture Provisions




 






Dated,
and filed with
 the Securities and Exchange Commission
 on, February 1, 1991




 





 









 





ELI LILLY AND COMPANY




     Reconciliation and tie between Trust Indenture Act of 1939 and Standard Multiple-Series
Indenture Provisions1



	 	 	 	 	 	 	 
	Trust Indenture Act Section	 	 	 	Indenture Section
	 	 	 	 	 	 	 
	§

	 	310 (a) (l)
	 	 	 	7.07
	 

	 	(a) (2)
	 	 	 	7.07
	 

	 	(a) (3)
	 	 	 	Not Applicable
	 

	 	(a) (4)
	 	 	 	Not Applicable
	 

	 	(b)
	 	 	 	7.03
	 	 	 	 	 	 	 
	§

	 	314 (b)
	 	 	 	Not Applicable
	 

	 	(C) (3)
	 	 	 	Not Applicable
	 

	 	(d)
	 	 	 	Not Applicable
	 	 	 	 	 	 	 
	§

	 	316 (a) (1) (A)
	 	 	 	6.06
	 

	 	(a) (l) (B)
	 	 	 	6.06
	 

	 	(a) (2)
	 	 	 	Not Applicable
	 

	 	(b)
	 	 	 	6.04
	 	 	 	 	 	 	 
	§

	 	317 (a) (1)
	 	 	 	6.02
	 

	 	(a) (2)
	 	 	 	6.02
	 

	 	(b)
	 	 	 	5.05
	 

	 	 
	 	 	 	7.04
	§

	 	318 (a)
	 	 	 	1.05








 




			
	1	 	This reconciliation and tie shall not, for any purpose, be deemed
to be part of the Indenture.





i









 





TABLE OF CONTENTS2




 






ARTICLE ONE




DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION




	 	 	 	 	 	 	 
	SECTION 1.01

	 	Definitions
	 	 	1	 
	 

	 	Authenticating Agent
	 	 	1	 
	 

	 	Authorized Newspaper
	 	 	1	 
	 

	 	Bearer Security
	 	 	1	 
	 

	 	Board of Directors
	 	 	1	 
	 

	 	Board Resolution
	 	 	1	 
	 

	 	Business Day
	 	 	2	 
	 

	 	Commission
	 	 	2	 
	 

	 	Company
	 	 	2	 
	 

	 	Component Currency
	 	 	2	 
	 

	 	Consolidated Net Tangible Assets
	 	 	2	 
	 

	 	Consolidated Subsidiary and Consolidated Subsidiaries
	 	 	2	 
	 

	 	Conversion Date
	 	 	2	 
	 

	 	Conversion Rate
	 	 	3	 
	 

	 	Corporate Trust Office
	 	 	3	 
	 

	 	corporation
	 	 	3	 
	 

	 	coupon
	 	 	3	 
	 

	 	debt securities
	 	 	3	 
	 

	 	Defaulted Interest
	 	 	3	 
	 

	 	Depositary
	 	 	3	 
	 

	 	Discharged
	 	 	3	 
	 

	 	Dollar
	 	 	4	 
	 

	 	Dollar Determination Agent
	 	 	4	 
	 

	 	Dollar Equivalent of the Currency Unit
	 	 	4	 
	 

	 	Dollar Equivalent of the Foreign Currency
	 	 	4	 
	 

	 	ECU
	 	 	4	 
	 

	 	European Communities
	 	 	4	 
	 

	 	Event of Default
	 	 	4	 
	 

	 	Exchange Rate Agent
	 	 	4	 
	 

	 	Exchange Rate Officer’s Certificate
	 	 	4	 
	 

	 	Foreign Currency
	 	 	5	 
	 

	 	Foreign Government Securities
	 	 	5	 
	 

	 	Funded Debt
	 	 	5	 
	 

	 	Global Security
	 	 	5	 
	 

	 	Holder
	 	 	5	 
	 

	 	indebtedness
	 	 	5	 
	 

	 	Indenture
	 	 	6	 
	 

	 	interest
	 	 	6	 






     2 This table of contents shall not, for any purpose, be deemed to be part of
the Indenture.



 









 





	 	 	 	 	 	 	 
	 

	 	Interest Payment Date
	 	 	6	 
	 

	 	Lien
	 	 	6	 
	 

	 	mandatory sinking fund payment
	 	 	6	 
	 

	 	Market Exchange Rate
	 	 	6	 
	 

	 	maturity
	 	 	6	 
	 

	 	Officers’ Certificate
	 	 	6	 
	 

	 	Official Exchange Rate
	 	 	6	 
	 

	 	Opinion of Counsel
	 	 	7	 
	 

	 	optional sinking fund payment
	 	 	7	 
	 

	 	Original Issue Discount Security
	 	 	7	 
	 

	 	Outstanding
	 	 	7	 
	 

	 	Paying Agent
	 	 	8	 
	 

	 	Person or person
	 	 	8	 
	 

	 	Place of Payment
	 	 	8	 
	 

	 	Predecessor Security
	 	 	8	 
	 

	 	redemption date
	 	 	8	 
	 

	 	redemption price
	 	 	8	 
	 

	 	Registered Security
	 	 	8	 
	 

	 	Regular Record Date
	 	 	8	 
	 

	 	Required Currency
	 	 	8	 
	 

	 	Responsible Officer
	 	 	9	 
	 

	 	Restricted Property
	 	 	9	 
	 

	 	Sale and Leaseback Transaction
	 	 	9	 
	 

	 	Security or Securities
	 	 	10	 
	 

	 	Security Register and Security Registrar
	 	 	10	 
	 

	 	Special Record Date
	 	 	10	 
	 

	 	Specified Amount
	 	 	10	 
	 

	 	Stated Maturity
	 	 	10	 
	 

	 	stock
	 	 	10	 
	 

	 	Subsidiary
	 	 	10	 
	 

	 	Trustee
	 	 	10	 
	 

	 	Trust Indenture Act
	 	 	10	 
	 

	 	United States
	 	 	11	 
	 

	 	United States Person
	 	 	11	 
	 

	 	U.S. Government Obligations
	 	 	11	 
	 

	 	Valuation Date
	 	 	11	 
	 

	 	Value
	 	 	11	 
	 

	 	Voting stock
	 	 	11	 
	 

	 	Yield to Maturity
	 	 	12	 
	 

	 	 
	 	 	 	 
	SECTION 1.02

	 	Form of Documents Delivered to Trustee
	 	 	12	 
	SECTION 1.03

	 	Notices, Etc., to Trustee and Company
	 	 	12	 
	SECTION 1.04

	 	Notice to Holders; Waiver
	 	 	13	 
	SECTION 1.05

	 	Conflict With Trust Indenture Act
	 	 	14	 
	SECTION 1.06

	 	Effect of Headings and Table of Contents
	 	 	14	 
	SECTION 1.07

	 	Successors and Assigns
	 	 	14	 
	SECTION 1.08

	 	Separability Clause
	 	 	15	 
	SECTION 1.09

	 	Benefits of Indenture
	 	 	15	 
	SECTION 1.10

	 	Governing Law
	 	 	15	 






ii




 









 








	 	 	 	 	 	 	 
	SECTION 1.11

	 	Legal Holidays
	 	 	15	 
	SECTION 1.12

	 	Moneys of Different Currencies to be Segregated
	 	 	15	 
	SECTION 1.13

	 	Payment to be in Proper Currency
	 	 	15	 
	 
	 	 	 	 	 	 
	ARTICLE TWO

	 
	 	 	 	 	 	 
	SECURITY FORMS

	 
	 	 	 	 	 	 
	SECTION 2.01

	 	Forms Generally
	 	 	17	 
	SECTION 2.02

	 	Form of Trustee’s Certificate of Authentication
	 	 	17	 
	SECTION 2.03

	 	Forms of Securities
	 	 	18	 
	 
	 	 	 	 	 	 
	ARTICLE THREE

	 
	 	 	 	 	 	 
	THE SECURITIES

	 
	 	 	 	 	 	 
	SECTION 3.01

	 	Amount Unlimited; Issuable in Series
	 	 	19	 
	SECTION 3.02

	 	Denominations
	 	 	22	 
	SECTION 3.03

	 	Execution, Authentication, Delivery and Dating
	 	 	22	 
	SECTION 3.04

	 	Temporary Securities
	 	 	25	 
	SECTION 3.05

	 	Registration; Registration of Transfer and Exchange
	 	 	26	 
	SECTION 3.06

	 	Mutilated, Destroyed, Lost and Stolen Securities
	 	 	31	 
	SECTION 3.07

	 	Payment of Defaulted Interest; Interest Rights Preserved
	 	 	32	 
	SECTION 3.08

	 	Persons Deemed Owners
	 	 	34	 
	SECTION 3.09

	 	Cancellation
	 	 	34	 
	SECTION 3.10

	 	Computation of Interest
	 	 	34	 
	SECTION 3.11

	 	Currency and Manner of Payments in Respect of Securities
	 	 	35	 
	SECTION 3.12

	 	Certification by a Person Entitled to Delivery of a Bearer Security
	 	 	42	 
	 
	 	 	 	 	 	 
	ARTICLE FOUR

	 
	 	 	 	 	 	 
	REDEMPTION OF SECURITIES AND SINKING FUNDS

	 
	 	 	 	 	 	 
	SECTION 4.01

	 	Applicability of Right of Redemption
	 	 	43	 
	SECTION 4.02

	 	Election to Redeem; Notice of Redemption; Partial Redemption
	 	 	43	 
	SECTION 4.03

	 	Payment of Securities Called for Redemption
	 	 	44	 
	SECTION 4.04

	 	Deposit of Funds for Redemption of Securities
	 	 	46	 
	SECTION 4.05

	 	Applicability of Sinking Fund
	 	 	46	 






iii




 









 








	 	 	 	 	 	 	 
	SECTION 4.06

	 	Satisfaction of Mandatory Sinking Fund Payments with Securities
	 	 	46	 
	SECTION 4.07

	 	Redemption of Securities for Sinking Funds
	 	 	46	 
	 
	 	 	 	 	 	 
	ARTICLE FIVE

	 
	 	 	 	 	 	 
	PARTICULAR
COVENANTS OF THE COMPANY

	 
	 	 	 	 	 	 
	SECTION 5.01

	 	Payments of Principal, Premium, if any, and Interest, if any
	 	 	49	 
	SECTION 5.02

	 	Office or Agency for Certain Purposes
	 	 	49	 
	SECTION 5.03

	 	Maintenance of Corporate Existence and Payment of Taxes
	 	 	50	 
	SECTION 5.04

	 	Appointments to Fill Vacancies in Trustee’s Office
	 	 	50	 
	SECTION 5.05

	 	Provisions as to Paying Agent
	 	 	50	 
	SECTION 5.06

	 	Annual Officers’ Certificate to Trustee
	 	 	51	 
	SECTION 5.07

	 	Reports to be Furnished Holders
	 	 	51	 
	SECTION 5.08

	 	Further Assurances
	 	 	52	 
	SECTION 5.09

	 	Limitation on Liens
	 	 	52	 
	SECTION 5.10

	 	Limitation on Sale and Leaseback
	 	 	53	 
	 
	 	 	 	 	 	 
	ARTICLE SIX

	 
	 	 	 	 	 	 
	REMEDIES OF THE TRUSTEE AND HOLDERS ON EVENT OF DEFAULT

	 
	 	 	 	 	 	 
	SECTION 6.01

	 	Events of Default Defined; Acceleration of Maturity; Waiver of Default
	 	 	55	 
	SECTION 6.02

	 	Collection of Indebtedness by Trustee; Trustee May Prove Debt
	 	 	57	 
	SECTION 6.03

	 	Application of Proceeds
	 	 	59	 
	SECTION 6.04

	 	Limitations on Suits by Holders
	 	 	59	 
	SECTION 6.05

	 	Powers and Remedies Cumulative; Delay or Omission Not Waiver
	 	 	60	 
	SECTION 6.06

	 	Control by Holders; Waiver of Default
	 	 	60	 
	 
	 	 	 	 	 	 
	ARTICLE SEVEN

	 
	 	 	 	 	 	 
	CONCERNING THE TRUSTEE

	 
	 	 	 	 	 	 
	SECTION 7.01

	 	Certain Rights of Trustee
	 	 	62	 
	SECTION 7.02

	 	Trustee Not Responsible for Recitals, etc
	 	 	63	 






iv




 









 








	 	 	 	 	 	 	 
	SECTION 7.03

	 	Trustee and Others May Hold Securities
	 	 	63	 
	SECTION 7.04

	 	Moneys Held by Trustee or Paying Agent
	 	 	63	 
	SECTION 7.05

	 	Compensation of Trustee and Its Lien
	 	 	64	 
	SECTION 7.06

	 	Right of Trustee to Rely on Certificate of Certain Officers
	 	 	64	 
	SECTION 7.07

	 	Persons Eligible for Appointment as Trustee
	 	 	65	 
	SECTION 7.08

	 	Resignation and Removal of Trustee; Appointment of Successor
	 	 	65	 
	SECTION 7.09

	 	Acceptance of Appointment by Successor Trustee
	 	 	66	 
	SECTION 7.10

	 	Merger, Conversion or Consolidation of Trustee
	 	 	63	 
	SECTION 7.11

	 	Judgment Currency
	 	 	63	 
	SECTION 7.12

	 	Authenticating Agents
	 	 	69	 
	 
	 	 	 	 	 	 
	ARTICLE EIGHT

	 
	 	 	 	 	 	 
	CONCERNING THE HOLDERS

	 
	 	 	 	 	 	 
	SECTION 8.01

	 	Evidence of Action Taken by Holders
	 	 	72	 
	SECTION 8.02

	 	Proof of Execution of Instruments and of Holding of Securities
	 	 	72	 
	SECTION 8.03

	 	Securities Owned by Company Deemed Not Outstanding
	 	 	74	 
	SECTION 8.04

	 	Right of Revocation of Action Taken
	 	 	75	 
	 
	 	 	 	 	 	 
	ARTICLE NINE

	 
	 	 	 	 	 	 
	HOLDERS’ MEETINGS

	 
	 	 	 	 	 	 
	SECTION 9.01

	 	Purposes for which Holders’Meetings May be Called
	 	 	76	 
	SECTION 9.02

	 	Call of Meetings by Trustee
	 	 	76	 
	SECTION 9.03

	 	Company and Holders May Call Meeting
	 	 	76	 
	SECTION 9.04

	 	Persons Entitled to Vote at Meeting
	 	 	77	 
	SECTION 9.05

	 	Determination of Voting Rights; Conduct and Adjournment
of Meeting
	 	 	77	 
	SECTION 9.06

	 	Counting Votes and Recording Action of Meeting
	 	 	73	 











v









 





	 	 	 	 	 	 	 
	ARTICLE TEN

	 
	 	 	 	 	 	 
	SUPPLEMENTAL INDENTURES

	 
	 	 	 	 	 	 
	SECTION 10.01

	 	Supplemental Indentures Without Consent of Holders
	 	 	80	 
	SECTION 10.02

	 	Supplemental Indentures With Consent of Holders
	 	 	82	 
	SECTION 10.03

	 	Effect of Supplemental Indentures
	 	 	83	 
	SECTION 10.04

	 	Notation on Securities in Respect of Supplemental
Indentures
	 	 	83	 
	SECTION 10.05

	 	Opinion of Counsel to be Given Trustee
	 	 	84	 
	 
	 	 	 	 	 	 
	ARTICLE ELEVEN

	 
	 	 	 	 	 	 
	CONSOLIDATION, MERGER AND SALE

	 
	 	 	 	 	 	 
	SECTION 11.01

	 	Company May Consolidate or Merge, etc
	 	 	85	 
	SECTION 11.02

	 	Conditions to Consolidation or Merger, etc
	 	 	85	 
	SECTION 11.03

	 	Documents and Opinion to be Furnished to the Trustee
	 	 	86	 
	 
	 	 	 	 	 	 
	ARTICLE TWELVE

	 
	 	 	 	 	 	 
	SATISFACTION AND
DISCHARGE OF INDENTURE; DEFEASANCE; UNCLAIMED MONEYS

	 
	 	 	 	 	 	 
	SECTION 12.01

	 	Satisfaction and Discharge of Indenture
	 	 	87	 
	SECTION 12.02

	 	Satisfaction, Discharge and Defeasance of Securities of
Any Series
	 	 	87	 
	SECTION 12.03

	 	Application by Trustee of Funds Deposited for Payment of
Securities
	 	 	89	 
	SECTION 12.04

	 	Repayment of Moneys Held by Paying Agent
	 	 	90	 
	SECTION 12.05

	 	Return of Unclaimed Moneys
	 	 	90	 






vi





 









 







ARTICLE THIRTEEN




IMMUNITY OF INCORPORATORS, STOCKHOLDERS, 

OFFICERS AND DIRECTORS



SECTION 13.01 Personal Immunity from Liability of Incorporators, Stockholders, etc. . 91





			
	EXHIBIT A	 	Form of Beneficial Ownership Certificate to be Given by Person Entitled to Receive Bearer Security Certificate





vii




 









 





ARTICLE ONE




DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION




     SECTION 1.01. Definitions. The following terms (except as herein otherwise
expressly provided or unless the context otherwise requires) for all purposes of this Indenture
and of any indenture supplemental hereto shall have the respective meanings specified in this
Section. All other terms used in this Indenture which are defined (either directly or by
reference) in the Trust Indenture Act of 1939 (except as herein otherwise expressly provided or
unless the context otherwise requires) shall have the meanings so assigned to such terms. All
accounting terms used herein and not expressly defined shall have the meanings assigned to such
terms in accordance with generally accepted accounting principles, and the term “generally
accepted accounting principles” means such accounting principles as are generally accepted at
the time of any computation.



     “Authenticating Agent” means any agent of the Trustee which at any time shall be
appointed and acting pursuant to the provisions of Section 7.12.



     “Authorized Newspaper” means a newspaper of general circulation in the place of publication
printed in the English language or in an official language of the country of publication and
customarily published on each Business Day of the year, whether or not such newspaper is published
on Saturdays, Sundays, or legal holidays. Where successive publications are required to be made in
Authorized Newspapers, the successive publications may be made in the same or different newspapers
in the same place of publication meeting the foregoing requirements and in each case on any
Business Day.



     “Bearer security” means any Security in the form of bearer securities established pursuant to
Section 2.03 that is payable to bearer including any coupons appertaining thereto unless (i) the
context otherwise indicates or (ii) the term “coupon” is separately employed for purposes of
clarity.



     “Board of Directors” means the Board of Directors of the Company, or any duly authorized
committee of such Board or any officers of the Company duly authorized so to act by such Board.



     “Board Resolution” means a copy of a resolution or resolutions certified by the Secretary
or an Assistant Secretary of the Company to have been duly adopted by the




 









 







Board of Directors and to be in full force and effect on the date of such certification and
delivered to the Trustee.




     “Business Day”, when used with respect to any Place of Payment or in conjunction with the name
of a city, means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which
banking institutions in that Place of Payment or city are authorized or obligated by or pursuant to
law, regulation or executive order to close, and shall otherwise mean each Monday, Tuesday,
Wednesday, Thursday and Friday which is not a day on which banking institutions at the place where
any specified act pursuant to this Indenture is to occur are authorized or obligated by or pursuant
to law, regulation or executive order to close.



     “Commission” means the Securities and Exchange Commission, as from time to time constituted,
created under the Securities Exchange Act of 1934, as amended, or, if at any time after the
execution and delivery of this instrument such Commission is not existing and performing the duties
now assigned to it under the Trust Indenture Act, then the body performing such duties at such
time.



     “Company” shall mean Eli Lilly and Company, an Indiana corporation and, subject to Article 11,
its successors or assigns.



     “Component Currency” has the meaning specified in Section 3.11 (i).



     “Consolidated Nat Tangible Assets” means the total amount of assets (less applicable reserves
and other properly deductible items) after deducting (1) all current liabilities (excluding the
amount of those which are by their terms extendable or renewable at the option of the obligor to a
date more than 12 months after the date as of which the amount is being determined) and (2) all
goodwill, tradenames, trademarks, patents, unamortized debt discount and expense and other like
intangible assets, all as set forth on the most recent balance sheet of the Company and its
consolidated subsidiaries and determined in accordance with generally accepted accounting
principles.



     “Consolidated Subsidiary” and “Consolidated Subsidiaries” means, respectively, any or all
Subsidiaries the accounts of which are properly included in the Company’s consolidated financial
statements.



     “Conversion Date” has the meaning specified in Section 3.11 (e).



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     “Conversion Rate” has the meaning specified in Section 7.11.



     “Corporate Trust office” means the office of the Trustee in New York, New York at which at any
particular time its corporate trust business shall be principally administered, except that, with
respect to presentation of Securities for payment or registration of transfers and exchanges and
the location of the Security Register, such term means the office or agency of the Trustee in said
city at which at any particular time its corporate agency business shall be conducted.



     “corporation” includes corporations, associations, companies and
business trusts.



     “coupon” means any interest coupon appertaining to a Bearer Security.



     “debt securities” means notes, bonds, debentures or other similar evidences of indebtedness
for money borrowed.



     “Defaulted Interest” has the meaning specified in Section 3.07.



     “Depositary” means, with respect to the
Securities of any series issuable or issued in whole or in part in the form of one or more Global
Securities, the Person designated as Depositary by the Company pursuant to Section 3.01 until a
successor Depositary shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Depositary” shall mean or include each Person who is then a Depositary
hereunder, and if at any time there is more than one such Person, “Depositary” as used with respect
to the Securities of any such series shall mean the Depositary with respect to the Securities of
that series.



     “Discharged” means that the Company will be deemed to have paid and discharged the entire
indebtedness represented by, and obligations under, the Securities of the series as to which
Section 12.02 is specified as applicable and to have satisfied all the obligations under this
Indenture relating to the Securities of such series (and the Trustee, at the expense of the
Company, will execute proper instruments acknowledging the same), except (A) the rights of Holders
thereof to receive, from the trust fund described in clause (q)(1) above, payment of the principal
of and the interest, if any, on such Securities when such payments are due, (B) the Company’s
obligations with respect to such Securities under Sections 3.05 and 3.06 (insofar as applicable to
Securities of such series),



3









 




12.02 and 5.02 and the Company’s obligations to the Trustee under Section 7.05, (C) the
rights of Holders of Securities of any series with respect to the currency or currency units in
which they are to receive payments of principal, premium, if any, and, interest and (D) the rights,
powers’ trusts, duties and immunities of the Trustee hereunder, will survive such discharge.
The Company will reimburse the trust fund for any loss suffered by it as a result of any tax, fee
or other charge imposed on or assessed against deposited U.S. Government Obligations or Foreign
Government Securities, as the case may be, or any principal or interest paid on such obligations,
and, subject to the provisions of Section 7.05, will indemnify the Trustee against any claims made
against the Trustee in connection with any such loss.




     “Dollar” means the coin or currency of the United States as at the time of payment is legal
tender for the payment of public and private debts.



     “Dollar Determination Agent” means a New York clearing house bank appointed by
the Company.



     “Dollar Equivalent of the Currency Unit” has the
meaning specified in Section 3.11 (h).



     “Dollar Equivalent of the Foreign Currency” has
the meaning specified in Section 3.11(g).



     “ECU” means the European Currency Unit as defined and revised from time to time by the Council
of the European Communities.



     “European Communities” means the European
Economic Community, the European Coal and Steel Community and the European Atomic Energy
Community as constituted from time to time.



     “Event of Default” means any event or condition specified in Section 6.01, continued for the
period of time, if any, and after the giving of the notice, if any, therein designated.



     “Exchange Rate Agent” means the entity appointed by the Company pursuant to Section
8.02.



     “Exchange Rate Officer’s Certificate” means a tested telex or a certificate setting forth
(i) the applicable Official Exchange Rate and (ii) the Dollar or Foreign Currency or currency unit
amounts of principal, premium, if any, and interest, if any, respectively (on an aggregate basis and
on the basis of a Security having a principal amount of 1,000 in the relevant currency or



4









 




currency unit), payable on the basis of such Official Exchange Rate, sent (in the case of a telex)
or executed (in the case of a certificate) by the Treasurer or any Assistant Treasurer of the
Company and delivered to the Trustee; such tested telex or certificate need not comply with Section
314 of the Trust Indenture Act.




     “Foreign Currency” means a currency issued by the government of any country other than the
United States of America.



     “Foreign Government Securities” means, with respect to Securities of any series that are
denominated in a Foreign Currency, securities that are (i) direct obligations denominated and
payable in such Foreign Currency of the government that issued or caused to be issued such currency
for the payment of which obligations its full faith and credit is pledged or (ii) obligations of a
Person controlled or supervised by and acting as an agency or instrumentality of such government
the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by
such government, which, in either case under clauses (i) or (ii), are not callable or redeemable at
the option of the issuer thereof.



     “Funded Debt” means indebtedness of the Company or a Subsidiary owning Restricted Property
maturing by its terms more than one year after its creation and indebtedness classified as
long-term debt under generally accepted accounting principles and in each case ranking at lease
pari passu with the Securities.



     “Global Security” means a Registered Security or Bearer Security evidencing all or part of a
series of Securities issued to the Depositary for such series in accordance with Section 3.03.



     “Holder”, with respect to a Registered Security, means a Person in whose name such Registered
Security is registered in the Security Register, and, with respect to a Bearer Security or a
coupon, means the bearer thereof.



     “indebtedness” means any obligation which in accordance with generally accepted accounting
principles would be classified as indebtedness. For all purposes of this Indenture, all
indebtedness which is either (a) secured by a mortgage, lien or other encumbrance upon property
owned by any corporation, although such corporation has not assumed or become liable for the
payment of such indebtedness, or (b) guaranteed by any corporation shall be deemed to have been
assumed by such corporation and to be included in any reference to the indebtedness of such
corporation.



5









 





     “Indenture” means this instrument as originally executed or as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the
applicable provisions hereof and shall include the form and terms of particular series of
Securities established as contemplated by Section 3.01.



     “interest”, when used with respect to an Original Issue Discount Security means interest
payable after maturity.



     “Interest Payment Data”, when used with respect to any Security, means the Stated Maturity of
an installment of interest on such Security.



     “Lien” means any mortgage, pledge, lien, encumbrance, charge or security interest.



     “mandatory sinking fund payment” has the meaning specified in Section 4.05.



     “Market Exchange Rate” has the meaning specified in Section 3.11 (i).



     “maturity”, when used with respect to any Security, means the date on which the principal (or
a portion thereof) of such Security becomes due and payable as therein or herein provided, whether
at Stated Maturity or by declaration of acceleration, notice of redemption, request for redemption
at the option of the Holder, exercise of option to elect early maturity or otherwise.



     “Officers Certificate” means a certificate signed by the Chairman of the Board of Directors,
the President or any Vice President, and the Treasurer, the Controller, the Secretary or any
Assistant Secretary, of the Company, and delivered to the Trustee. Each such Officers’ Certificate
shall contain the statements provided in Section 314 of the Trust Indenture Act, if applicable.



     “Official Exchange Rate” means with respect to any payment to be made hereunder, the exchange
rate between the relevant currency or currency unit and the currency or currency unit of payment
calculated by the Exchange Rate Agent for the Securities of the relevant series (or in the case of
ECU, reported by the Commission of the European Communities and currently based on the rates in
effect at 2:30 p.m., Brussels time, on the exchange markets of the Component Currencies of ECU), on
the Business Day (in the city in which such Exchange Rate Agent has its principal office)
immediately preceding delivery of any Exchange Rate Officer’s Certificate.



6









 





     “Opinion of Counsel” means a written opinion of counsel, who may-be counsel for or an
employee or the Company, which is acceptable in form and substance to the Trustee. Each Opinion of
Counsel shall contain the statements provided in Section 314 of the Trust Indenture Act, if
applicable.



     “optional sinking fund payment” has the meaning specified in Section 4.05.



     “Original Issue Discount Security” means any Security which provides for an amount less
than the principal amount thereof to be due and payable upon a declaration of acceleration of
the maturity thereof pursuant to Section 6.01.



     “Outstanding”, when used with reference to Securities, subject to the provisions of
Section 8.04, means, as of any particular time, all Securities authenticated and delivered by
the Trustee under this Indenture, except



     (a) Securities theretofore cancelled by the Trustee or delivered to the Trustee for cancellation;



     (b) Securities, or portions thereof, for the payment or redemption of which moneys or, as provided in
Section 12.02 hereof, Foreign Government Securities or U.S. Government Obligations, as the case may be, in the
necessary amount shall have been deposited in trust with the Trustee or with any Paying Agent (other than the
Company) or (except for purposes of Section 12.01) shall have been set aside and segregated in trust by the Company
(if the Company shall act as its own Paying Agent), provided that if such Securities are to be redeemed prior
to the maturity thereof, notice of such redemption shall have been given as in Article Four provided, or provision
satisfactory to the Trustee shall have been made for giving such notice; and



     (c) Securities in lieu of or in substitution of which other Securities shall have been authenticated and
delivered pursuant to Section 3.06;


provided, however, that in determining whether the Holders of the requisite principal
amount of Outstanding Securities have taken any action, given any request, demand, authorization,
direction, notice, consent or waiver hereunder or whether a quorum is present at a meeting of
Holders of Securities, the principal amount of an Original Issue Discount Security that shall be
deemed to be Outstanding shall be the amount of the principal thereof that would be due and payable
as of the date of such




7









 




determination upon acceleration of the maturity thereof pursuant to Section 6.01.




     “Paying Agent” means any Person authorized by the Company to pay the principal of, premium, if
any, and interest, if any, on any Securities on behalf of the Company.



     “Person” or “person” means an individual, a corporation, a partnership, a trust, a joint
venture, an association, a joint stock company, an unincorporated organization or a government or
any agency or political  subdivision thereof.



     “Place of Payment”, when used with respect to the Securities of any series, means the
principal office of the Trustee or such other place or places where the principal of, premium, if
any, and interest, if any, on the Securities of that series are payable as specified in accordance
with Section 3.01.



     “Predecessor Security” of any particular Security means every previous Security evidencing all
or a portion of the same debt as that evidenced by such particular Security, and, for the purposes
of this definition, any Security authenticated and delivered under Section 3.06 in exchange for or
in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same
debt as the mutilated, destroyed, lost or stolen Security.



     “redemption date”, when used with respect to any Security to be redeemed, in whole or in part,
means the date fixed for such redemption by or pursuant to this Indenture.



     “redemption price”, when used with respect to any
Security to be redeemed, means the price (exclusive of accrued interest, if any) at which it
is to be redeemed pursuant to this Indenture.



     “Registered Security” means any Security in the form of registered securities established
pursuant to Section 2.03 that is registered in the Security Register.



     “Regular Record Date” for the interest payable on any Interest Payment Date on the Registered
Securities of any series means the day specified for that purpose as contemplated by Section 3.01,
whether or not such day shall be a Business Day.



     “Required Currency” has the meaning specified in Section 1.13.



8









 





     “Responsible Officer”, when used with respect to the Trustee, means the chairman or any Vice
Chairman of the Board of Directors, the Chairman or any Vice Chairman of the Executive Committee
of the Board of Directors the Chairman of the Trust Committee, the President, any Vice President,
any Assistant Vice President, the Secretary, any Assistant Secretary, the Treasurer, any Assistant
Treasurer, the Cashier, any Assistant Cashier, any Senior Trust Officer, any Trust Officer or
Assistant Trust Officer, the Controller or any Assistant Controller or any other officer of the
Trustee customarily performing functions similar to those performed by any of the above designated
officers and also means, with respect to a particular corporate trust matter, any other officer to
whom such matter is referred because of his knowledge of and familiarity with the particular
subject.



     “Restricted Property” means (1) any manufacturing facility, or portion thereof, owned or
leased by the Company or any Subsidiary and located within the continental United States of America
which, in the opinion of the Board of Directors, is of material importance to the business of the
Company and its Subsidiaries taken as a whole, but no such manufacturing facility, or portion
thereof, shall be deemed of material importance if its gross book value (before deducting
accumulated depreciation) is less than 2% of Consolidated Net Tangible Assets, or (2) any shares of
capital stock or indebtedness of any Subsidiary owning any such manufacturing facility. As used in
this definition, “manufacturing facility” means property, plant and equipment used for actual
manufacturing and for activities directly related to manufacturing such as quality assurance,
engineering, maintenance, staging areas for work in process materials, employees’ eating and
comfort facilities and manufacturing administration, and it excludes sales offices, research
facilities and facilities used only for warehousing or general administration.



     “Sale and Leaseback Transaction” means any
arrangement with any person pursuant to which the Company or any Subsidiary leases any Restricted
Property that has been or is to be sold or transferred by the Company or the Subsidiary to such
person, other than (1) temporary leases for a term, including renewals at the option of the lessee
of not more than three years, (2) leases between the Company and a Subsidiary or between
Subsidiaries, (3) leases of a Restricted Property executed by the time of, or within 12 months
after the latest of, the acquisition, the completion of construction or improvement, or the
commencement of commercial operation of the Restricted Property, and (4) arrangements pursuant to
any provision of law with an effect similar to the former Section 168(f)(8) of the Internal Revenue
Code of 1954, as amended.



9









 





     “Security” or “Securities” means one or more, as the case may be, of the Company’s debt
securities authenticated and delivered under this Indenture, which may be Registered Securities or
Bearer Securities.



     “Security Register” and “Security Registrar” have the respective meanings specified in Section
3.05.



     “Special Record Data” for the payment of any Defaulted Interest on the Registered
Securities of any series means a date fixed by the Trustee pursuant to Section 3.07.



     “Specified Amount” has the meaning specified in Section 3.11 (i).



     “Stated Maturity”, when used with respect to any Security or any installment of principal
thereof or interest thereon, means the date specified in such Security or a coupon representing
such installment of interest as the fixed date on which the principal of such Security or such
installment of principal or interest is due and payable.



     “stock” includes any and all shares, interests, participations or other equivalents (however
designated) of corporate stock.



     “Subsidiary” means any corporation more than 50% of the voting stock of which shall at the
time be owned by the Company or by one or more Subsidiaries or by the company and one or more
Subsidiaries, but shall not include any corporation of which the Company and/or one or more
Subsidiaries owns directly or indirectly less than 50% of the outstanding stock of all classes
having ordinary voting power for the election of directors but more than 50% of the outstanding
shares of stock of a class having by its terms ordinary voting power as a class to elect a majority
of the board of directors of such corporation.



     “Trustee” means the Person named as the “Trustee” in the first paragraph of this instrument
until a successor Trustee shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee
hereunder, and if at any time there is more than one such Person, “Trustee” as used with respect to
the Securities of any series shall mean the Trustee with respect to Securities of that series.



     “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended.



10









 





     “United states” means the United States of America (including the States thereof and the
District of Columbia), its territories and possessions, the Commonwealth of Puerto Rico and other
areas subject to its jurisdiction.



     “United States Person” has the meaning as determined by Section 3.01(18).



     “U.S. Government Obligations” means securities that are (i) direct obligations of the United
States for the payment of which its full faith and credit is pledged or (ii) obligations of a
Person controlled or supervised by and acting as an agency or instrumentality of the United States
the timely payment of which is unconditionally guaranteed as a full faith and credit obligation of
the United States, which, in either case under clauses (i) or (ii), are not callable or redeemable
at the option of the issuer thereof, and will also include a depository receipt issued by a bank or
trust company as custodian with respect to any such U.S. Government Obligation or a specified
payment of interest on or principal of any such U.S. Government Obligation held by such custodian
for the account of the holder of a depository receipt, provided that (except as required by law)
such custodian is not authorized to make any deduction from the amount payable to the holder of
such depository receipt from any amount received by the custodian in respect of the U.S. Government
Obligation or the specific payment of interest on or principal of the U.S. Government Obligation
evidenced by such depository receipt.



     “Valuation Data” has the meaning specified in Section 3.11(e) .



     “Value” means, with respect to a Sale and Leaseback Transaction, an amount equal to the net
present value of the lease payments with respect to the term of the lease remaining on the date as
of which the amount is being determined, without regard to any renewal or extension options
contained in the lease, discounted at the weighted average interest rate on the Securities of all
series (including the yield to maturity on any Original Issue Discount Securities) which are
outstanding on the effective date of such Sale and Leaseback Transaction.



     “voting stock”, as applied to the stock of any
corporation, means stock having ordinary voting power for the election of directors of such
corporation, other than stock having such power only by reason of the happening of a contingency.



11









 





     “Yield to Maturity” means the yield to maturity on a series of securities, calculated at the
time of issuance of such series, or, if applicable, at the most recent redetermination of interest
on such series, and calculated in accordance with accepted financial practice.



     SECTION 1.02. Form of Documents Delivered to Trustee. In any case where several
matters are required to be certified by, or covered by an opinion of, any specified Person, it is
not necessary that all such matters be certified by, or covered by the opinion of, only one such
Person, or that they be so certified or covered by only one document, but one such Person may
certify or give an opinion with respect to some matters and one or more other such Persons as to
other matters, and any such Person may certify or give an opinion as to such matters in one or
several documents.



     Any certificate, statement or opinion of an officer of the Company may be based, insofar as it
relates to legal matters, upon a certificate or opinion of or representations by counsel, unless
such officer knows, or in the exercise of reasonable care should know, that the certificate or
opinion or representation with respect to the matters upon which his certificate, statement or
opinion is based are erroneous. Any certificate, statement or Opinion of Counsel may be based,
insofar as it relates to factual matters, upon a certificate, statement or opinion of or
representations by an officer or officers of the Company stating that the information with respect
to such factual matters is in the possession of the Company, unless such counsel knows, or in the
exercise of reasonable care should know, that the certificate, statement or opinion or
representation with respect to such matters are erroneous.



     Where any Person is required to make, give or execute two or more applications,
requests, consents, certificates, statements, opinions or other instruments under this Indenture, they may, but
need not, be consolidated and form one instrument.



     SECTION 1.03. Notices, Etc., to Trustee and Company. Any request, demand,
authorization, direction, notice, consent, waiver or act of Holders or other document provided or
permitted by this Indenture to be made upon, given or furnished to, or filed with,




     (1) the Trustee by any Holder or by the Company shall be made, given,
furnished or filed in writing to or with the Trustee at the principal office
of the Trustee and unless



12









 






otherwise herein expressly provided, any such document shall be deemed to be
sufficiently made, given, furnished or filed upon its receipt by a Responsible
Officer of the Trustee, or




     (2) the Company by the Trustee or by any Holder shall be sufficient for every
purpose hereunder (unless otherwise herein expressly provided) if in writing and
mailed, first-class postage prepaid, to the Company addressed to it at Lilly
Corporate Center, Indianapolis, Indiana 46285, Attention: Secretary, or at any
other address previously furnished in writing to the Trustee by the Company.




     SECTION 1.04. Notice to Holders; Waiver.



     (a) Where this Indenture provides for notice to
Holders of Registered Securities of any event, such notice
shall be sufficiently given (unless otherwise herein
expressly provided) if in writing and mailed, first-class
postage prepaid, to each Holder of a Registered Security
affected by such event and to such other Holders of
Securities as have, within two years preceding such
transmission, filed their names and addresses with the
Trustee for that purpose, at his address as it appears in
the Security Register, not later than the latest date and
not earlier than the earliest date prescribed for the
giving of such notice, and in the event of suspension of
regular mail service or for any other reason it shall be
impracticable to give such notice to Holders of Registered
Securities by mail, then such notification to Holders of
Registered Securities shall be made in the manner specified
in Section 1.04(b) and such notification shall constitute
sufficient notification for every purpose hereunder. In
any case where notice to Holders of Registered Securities
is given by Mail, neither the failure to mail such notice,
nor any defect in any notice so mailed, to any particular
Holder of a Registered Security shall affect the
sufficiency of such notice with respect to other Holders of
Securities or the sufficiency of any notice by publication
to Holders of Securities given as provided in Section
1.04 (b).



     (b) Where (x) this Indenture provides for notice
to Holders of Bearer Securities or (y) if there has been a
suspension of regular mail service or for any other reason
it is impracticable to give notice to Holders of Registered
Securities by mail, such notice shall be sufficiently given
if published on a Business Day in an Authorized Newspaper
in The City of New York and, if the Securities of such
series are then listed on The International Stock Exchange
of the United Kingdom and the Republic of Ireland, in



13









 




London and, if the Securities of such series are then listed on the Luxembourg Stock Exchange, in
Luxembourg and, if the Securities of such series are then listed on any other stock exchange
outside the United States and such stock exchange shall so require, in any other required city
outside the United States, or, if not practicable in any required city, in London, such publication
to be not earlier than the earliest date and not later than the latest date prescribed for the
giving of such notice. In case by reason of the suspension of publication of any Authorized
Newspaper or Authorized Newspapers or by reason of any other cause it shall be impracticable to
publish any notice as provided in this Section 1.04(b), then such notification as shall be given
with the approval of the Trustee shall constitute sufficient notice to such Holders for every
purpose under this Section 1.04(b). Neither failure to give notice by publication as provided in
this Section 1.04(b), nor any defect in any notice so published, shall affect the sufficiency of
any notice mailed to Holders of Registered Securities as provided in Section 1.04 (a).




     (c) Where this Indenture provides for notice in
any manner, such notice may be waived in writing by the
Person entitled to receive such notice, either before or
after the event, and such waiver shall be the equivalent of
such notice. Waivers of notice by Holders shall be filed
with the Trustee, but such filing shall not be a condition
precedent to the validity of any action taken in reliance
upon such waiver.



     (d) Any request, demand, authorization, notice,
consent, election, waiver or other act required or
permitted under this Indenture shall be in the English
language, except that any published notice may be in an
official language of the country of publication.



     SECTION 1.05. Conflict With Trust Indenture Act. If any provision hereof limits,
qualifies or conflicts with another provision hereof which is required to be included in this
Indenture by any of the provisions of the Trust Indenture Act, such required provision shall
control.



     SECTION 1.06. Effect of Headings and Table of Contents. The Article and Section
headings herein and the Table of Contents are for convenience only and shall not affect the
construction hereof.



     SECTION 1.07. Successors and Assigns. All covenants and agreements in this Indenture
by the Company shall bind its successors and assigns, whether so expressed or not.



14









 





     SECTION 1.08. Separability Clause. In case any provision in this Indenture or
in the Securities shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby.



     SECTION 1.09. Benefits of Indenture. Nothing in this Indenture or in the Securities,
express or implied, shall give to any Person, other than the parties hereto and their successors
hereunder and the Holders, any benefit or any legal or equitable right, remedy or claim under this
Indenture.



     SECTION 1.10. Governing Law. This Indenture and the Securities shall be governed by
and construed in accordance with the laws of the State of New York.



     SECTION 1.11. Legal Holidays. Unless otherwise provided by Section 3.01, in any case
where any Interest Payment: Date, Redemption Date or Stated Maturity of any Security shall not be a
Business Day at any Place of Payment, then (notwithstanding any other provision of this Indenture
or of the Securities) payment of the principal of, premium, if any, or interest, if any, on such
Security need not be made at such Place of Payment on such date, but may be made on the next
succeeding Business Day at such Place of Payment with the same force and effect as if made on the
Interest Payment Date or redemption date, or at the Stated Maturity, provided that no additional
interest shall accrue with respect to the payment due on such date for the period from and after
such Interest Payment Date, Redemption Date or Stated Maturity, as the case may be, to the next
succeeding Business Day.



     SECTION 1.12. Moneys of Different Currencies to be Segregated. The Trustee shall
segregate moneys, funds and accounts held by the Trustee hereunder in one currency (or unit
thereof) from any moneys, funds or accounts in any other currencies (or units thereof),
notwithstanding any provision herein which would otherwise permit the Trustee to commingle such
amounts.



     SECTION 1.13. Payment to be in Proper Currency. In the case of any Security
denominated in any particular currency or currency unit (the “Required Currency”), except as
otherwise provided herein, therein or in or pursuant to the related Board Resolution or
supplemental indenture, the obligation of the Company to make any payment of principal of, premium,
if any, or interest, if any, thereon shall not be discharged or satisfied by any tender by the
Company, or recovery by the Trustee, in any currency or currency unit other than the Required
Currency, except to the extent that such tender or recovery, if exchanged for the Required



15









 




Currency by the Trustee at its election as provided in the next sentence, shall result in the
Trustee timely holding the full amount of the Required Currency then due and payable. Neither
the Trustee nor any Paying Agent shall be obligated to make any payment in any currency or currency
unit other than the currency or currency unit tendered to, or recovered by, the Trustee or such
Paying Agent. Notwithstanding the foregoing, if any such tender or recovery is made in other than
the Required Currency, the Trustee may take such actions as it considers appropriate to exchange
such other currency or currency unit for the Required Currency. The costs and risks of any such
exchange, including without limitation the risks of delay and exchange rate fluctuation, shall be
borne by the Company, the Company shall remain fully liable for any shortfall or delinquency in the
full amount of the Required Currency then due and payable and in no circumstances shall the Trustee
be liable therefor. The Company hereby waives any defense of payment based upon any such tender or
recovery which is not in the Required Currency, or which, when exchanged for the Required Currency
by the Trustee, is less than the full amount of the Required Currency then due and payable.





16










 





ARTICLE TWO




SECURITY FORMS




          SECTION 2.01. Forms Generally. The Securities of each series shall be in
substantially the form as shall be established by or pursuant to a Board Resolution or in one or
more indentures supplemental hereto, in each case with such appropriate insertions, omissions,
substitutions and other variations as are required or permitted by this Indenture and may have such
letters, numbers or other marks of identification and such legends or endorsements placed thereon
as may be required to comply with the rules of any securities exchange or as may, consistently
herewith, be determined by the officers executing such Securities as evidenced by their execution
of the Securities. If the form of Securities of any series is established by action taken pursuant
to a Board Resolution, a copy of an appropriate record of any such action taken shall be certified
by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior
to the delivery of the written order of the Company contemplated by Section 3.03 for the
authentication and delivery of the initial Securities of each series. Any such Board Resolution or
record of such action shall have attached thereto a true and correct copy of the form of Security
referred to therein approved by or pursuant to such Board Resolution.




          The Trustee’s certificate of authentication shall be in substantially the form set forth in
this Article Two.




          The definitive Securities shall be printed, lithographed or engraved on steel engraved
borders or may be produced in any other manner, all as determined by the officers executing such
Securities as evidenced by their execution of such Securities.




          SECTION 2.02. Form of Trustee’s Certificate of Authentication. The Trustee’s
certificate of authentication on all Securities shall be in substantially the following form:




17









 








          This is one of the Securities of the series designated therein issued under the
within-mentioned Indenture.




	 	 	 	 	 	 	 
	 	 	[full name of Trustee],	 	 
	 	 	as Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Authorized Officer	 	 






          SECTION 2.03. Forms of Securities. Each
Security shall be in one of the forms approved from time to time by or pursuant to a Board
Resolution or one or more indentures supplemental hereto which shall set forth the information
required by Section 3.01. Unless otherwise provided as contemplated by Section 3.01 with respect
to any series of Securities, the Securities of each series shall be issuable in registered form
without coupons. If so provided as contemplated by Section 3.01, the Securities of a series shall
be issuable in whole or in part (a) in bearer form, with interest coupons attached, (b) in
registered and bearer form or (c) in the form of one or more Global Securities.




18









 





ARTICLE THREE




THE SECURITIES




          SECTION 3.01. Amount Unlimited; Issuable in Series. The aggregate principal
amount of Securities which may be authenticated and delivered under this Indenture is unlimited.




          The Securities may be issued in one or more series, and each such series shall rank equally
and pari passu with all other unsecured and unsubordinated indebtedness of the Company. There
shall be established in or pursuant to a Board Resolution, and set forth in an Officers’
Certificate, or established in one or more indentures supplemental hereto, prior to the initial
issuance of Securities of any series,




          (1) the title of the Securities of the series
(which shall distinguish the Securities of the series from
all other Securities, except to the extent that additional
Securities of an existing series are being issued);




          (2) any limit upon the aggregate principal
amount of the Securities of the series that may be
authenticated and delivered under this Indenture (except for
Securities authenticated and delivered upon registration of
transfer of, or in exchange for, or in lieu of, other
Securities of the series pursuant to Section 3.04, 3.05,
3.06, 4.03 or 10.04);




          (3) the date or dates on which the principal of
and premium, if any, on the Securities of the series are
payable or the method of determination thereof;




          (4) the rate or rates (which may be fixed or
variable), or the method of determination thereof, at which
the Securities of the series shall bear interest, if any,
the date or dates from which such interest shall accrue, or
the method of determination thereof, the Interest Payment
Dates on which such interest shall be payable and (in the
case of Registered Securities) the Regular Record Date for
the interest payable on any Interest Payment Date;




          (5) if other than such currency of the United
States as at the time of payment is legal tender for payment
of public or private debts, the currency or currencies or
currency unit or units, in which payment of the principal
of, premium, if any, or interest, if any, on the Securities
of the series shall be payable and the Dollar Determination
Agent, if any, for such series;




19









 








          (6) if the principal of, premium, if any, or
interest, if any, on the Securities of the series are to be
payable, at the election of the Company or a Holder, in a
currency or currencies or currency unit or units, other than
that in which the Securities are stated to be payable, the
period or periods within which, and the terms and conditions
upon which, such election may be made or the other
circumstances under which any of such Securities are to be
so payable, including without limitation the application of
Section 3.11 and any deletions to, modifications of or
additions to the provisions thereof, and any provision
requiring the Holder to bear currency exchange costs by
deduction from such payments;




          (7) if the amount of payments of principal of,
premium, if any, or interest, if any, on any of the
Securities of the series may be determined with reference to
an index, formula, or other method based on (i) a currency
or currencies, or currency unit or units, or in such other
commodity as permitted, other than that in which such
Securities are stated to be payable or (ii) any method not
inconsistent with the provisions of this Indenture specified
in or pursuant to such Board Resolution, then in either case
(i) or (ii) the manner in which such amounts shall be
determined;




          (8) the place or places where the principal of,
premium, if any, and interest, if any, on the Securities of
the series shall be payable;




          (9) if applicable, the period or periods within
which, the price or prices at which and the terms and
conditions upon which Securities of the series may be
redeemed, in whole or in part, at the option of the Company;




          (10) the obligation, if any, of the Company to redeem, purchase or repay Securities of the
series pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof
and the period or periods within which, the price or prices at which and the terms and conditions
upon which Securities of the series shall be redeemed, purchased or repaid, in whole or in part,
pursuant to such obligation;




          (11) whether Bearer Securities of the series are
to be issuable and, if so, (i) whether Registered Securities
of the series are also to be issuable and (ii) the manner in
which such Bearer Securities are to be dated;




          (12) if Bearer Securities of the series are to be
issuable, (x) whether interest in respect of any portion of
a temporary Global Security (representing all of the
Outstanding Bearer Securities of the series) payable in




20









 




respect of any Interest Payment Date prior to the exchange of such temporary Security for
definitive Securities in the series shall be paid to any Depositary with respect to the portion of
such temporary Global Security held for its account and, in such event, the terms and conditions
(including any certification requirements) upon which any such interest payment received by such
Depositary will be credited to the Persons entitled to interest payable on such
Interest Payment Date, and (y) the terms upon which interests in such temporary Global Security may
be exchanged for interests in a permanent Global Security or for definitive Securities of the
series and the terms upon which interests in a permanent Global Security, if any, may be exchanged
for definitive Securities of the series;




          (13) whether the Securities of the series shall be issued in whole or in part in the form of
one or more Global Securities and, in such case, the Depositary for such Global Security or
Securities;




          (14) the denominations in which Registered
Securities of the series, if any, shall be issuable, if
other than the denominations of $1,000 and any integral
multiple thereof, and the denominations in which Bearer
Securities of the series, if any, shall be issuable if other
than the denomination of $5,000;




          (15) if other than the principal amount thereof,
the portion of the principal amount of any of the Securities
of the series which shall be payable upon declaration of
acceleration of the maturity thereof pursuant to Section
6.01;




          (16) the application, if any, of Section 12.02,
or such other means of satisfaction and discharge as may be
specified for the Securities of a series;




          (17) any deletions from or modifications of or
additions to the Events of Default set forth in Section 6.01
pertaining to the Securities of the series;




          (18) whether and under what circumstances and
with what procedures and documentation the Company will pay
additional amounts on any of the Securities, of the series
to any Holder who is not a United States Person (including a
definition of such term), in respect of any tax, assessment
or governmental charge withheld or deducted and, if so,
whether the Company will have the option to redeem such
Securities rather than pay additional amounts (and the terms
of any such option);




          (19) the Person to whom any interest on any
Registered Security of the series shall be payable, if other




21









 




than the Person in whose name that Security (or one or more Predecessor Securities) is
registered at the close of business on the Regular Record Date for such interest, the manner in
which, or the Person to whom, any interest on any Bearer Security of the series shall be payable,
if otherwise than upon presentation and surrender of the coupons appertaining thereto as they
severally mature and the extent to which, or the manner in which, any interest payable on a
temporary Global Security on an Interest Payment Date will be paid if other than in the manner
provided in Section 3.04;




          (20) the form of the Securities of the series; and




          (21) any other terms of the series (which terms shall not be inconsistent with the provisions
of this Indenture or adversely affect the rights of Holders of any other series of Securities then
outstanding).




          If
any of the terms of the series are established by action taken pursuant to a Board
Resolution, a copy of an appropriate record of such action shall be delivered to the Trustee at or
prior to the initial issuance of Securities of such series.




          SECTION 3.02. Denominations. Unless otherwise provided as contemplated by Section
3.01 with respect to any series of Securities and except as provided in Section 3.03, the
Registered Securities of each series, if any, shall be issuable in denominations of $1,000 and any
integral multiple thereof and the Bearer Securities of each series, if any, shall be issuable in
the denomination of $5,000. Securities of each series shall be numbered, lettered or otherwise
distinguished in such manner or in accordance with such plan as the officers of the Company
executing the same may determine with the approval of the Trustee.




          SECTION 3.03. Execution, Authentication, Delivery and Dating. The Securities shall
be signed on behalf of the Company by the Chairman of the Board of Directors, the President, or a
Vice President and by its Treasurer or Controller or its Secretary or an Assistant Secretary, under
its corporate seal. Such signatures may be manual or facsimile signatures of the present or any
future such authorized officers and may be imprinted or otherwise reproduced on the Securities.
The seal of the Company may be in the form of a facsimile thereof and may be impressed, affixed,
imprinted or otherwise reproduced on the Securities. Any coupons shall be executed on behalf of
the Company by the manual or facsimile signature of any such authorized officer of the Company.




22









 








          Only such Securities as shall bear thereon a certificate of authentication substantially
in the form hereinbefore recited, executed by the Trustee, shall be entitled to the benefits of
this Indenture or be valid or obligatory for any purpose. Such certificate by the Trustee upon any
Security executed by the Company shall be conclusive evidence that the Security so authenticated
has been duly authenticated and delivered hereunder.




          Securities bearing the manual or facsimile signatures of individuals who were at any time the
proper officers of the Company shall bind the Company, notwithstanding that such individuals or any
of them have ceased to hold such offices prior to the authentication and delivery of such
Securities or did not hold such offices at the date of such Securities.




          At any time and from time to time after the execution and delivery of this Indenture, the
Company may deliver Securities of any series executed by the Company to the Trustee for
authentication. The Trustee shall thereupon authenticate and deliver such Securities to or upon
the written order of the Company, signed by the Chairman of the Board of Directors, the President,
or a Vice President and by its Treasurer or Controller or by its Secretary or an Assistant
Secretary, or pursuant to such procedures acceptable to the Trustee and such recipients, without
any further action by the Company; provided, however, that in connection with its original
issuance, a Bearer Security may be delivered only outside the United States and only if the Company
or its agent shall have received from the person entitled to delivery of such Bearer Security a
certificate substantially in the form set forth as Exhibit A hereto. In authenticating such
Securities, and accepting the additional responsibilities under this Indenture in relation to such
Securities, the Trustee shall be entitled to receive, and shall be fully protected in relying upon
the documents specified in Section 314 of the Trust Indenture Act, and in addition:




          (a) a Board Resolution relating thereto, and, if
applicable, an appropriate record of any action taken
pursuant to such Board Resolution, certified by the
Secretary or an Assistant Secretary of the Company;




          (b) an executed supplemental indenture, if any;
and




          (c) an Opinion of Counsel prepared in accordance
with Section 1.02, which shall also state





          (1) that the form and terms of such Securities have been established by or
pursuant to



23









 






one or more Board Resolutions, by a supplemental indenture as permitted by Section
10.01(f), or by both such resolution or resolutions and such supplemental
indenture, in conformity with the provisions of this Indenture;




          (2) that the supplemental indenture, if
any, when executed and delivered by the Company
and the Trustee, will constitute a valid and
legally binding obligation of the Company; and




          (3) that such Securities when
authenticated and delivered by the Trustee and
issued by the Company in the manner and subject to
any conditions specified in such Opinion of
Counsel, will constitute valid and legally binding
obligations of the Company in accordance with
their terms and will be entitled to the benefits
of this Indenture.



          The Trustee shall have the right to decline to authenticate and deliver the Securities of such
series if the Trustee reasonably determines that such action may not lawfully be taken, would
expose the Trustee to personal liability or would add to the obligations and duties of the Trustee
hereunder in any material respect. In addition, prior to the authentication upon original issuance
of the first Security of a series to be issued, which is denominated in a Foreign Currency or
currency unit, the Trustee shall have the right to decline to authenticate and deliver any
Securities of such series if the Trustee determines in its reasonable discretion that it would not
be able to properly fulfill its obligations hereunder in respect of such Securities or to do so
would be unduly burdensome to the Trustee.




          If the Company shall establish pursuant to Section 3.01 that the Securities of a series are to
be issued in whole or in part in the form of one or more Global Securities, then the Company shall
execute and the Trustee shall, in accordance with this Section and the written order of the Company
with respect to such series, authenticate and deliver one or more Global Securities in temporary or
permanent form that (i) shall represent and shall be denominated in an amount equal to the
aggregate principal amount of the Outstanding Securities of such series to be represented by one or
more Global Securities, (ii) shall be registered, if in registered form, in the name of the
Depositary for such Global Security or Securities or the nominee of such Depositary, (iii) shall be
delivered by the Trustee to such Depositary or pursuant to such Depositary’s instruction, and (iv)
shall bear a legend to substantially the following effect: “Unless and until it is exchanged in




24









 




whole or in part for Securities in definitive registered form, this Security may not be
transferred except as a whole by the Depositary to the nominee of the Depositary or by a nominee of
the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any
such nominee to a successor Depositary or to a nominee of such successor Depositary.”




          Each Depositary designated pursuant to Section 3.01 for a Global Security in registered form
to be delivered in the United States must, at the time of its designation and at all times while it
serves as Depositary, be a clearing agency registered under the Securities Exchange of Act of 1934,
as amended, and any other applicable statute or regulation.




          Each Registered Security shall be dated the date of its authentication. Each Bearer Security
shall be dated as of the date specified as contemplated by Section 3.01.




          Notwithstanding the provisions of Section 3.01 and of this Section 3.03, if all Securities of
a series are not to be originally issued at one time, it shall not be necessary to deliver the
Officers’ Certificate otherwise required pursuant to Section 3.01 or the written order of the
Company, Board Resolution, Officers’ Certificate and Opinion of Counsel otherwise required pursuant
to this Section 3.03 at or prior to the time of authentication of each Security of such series if
such documents are delivered at or prior to the authentication upon original issuance of the first
Security of such series to be issued.




          SECTION 3.04. Temporary Securities. Pending the preparation of a permanent Global
Security or definitive Securities of any series, the Company may execute, and upon compliance with
Section 3.03 the Trustee shall authenticate and deliver, temporary Securities which are printed,
lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination,
substantially of the tenor of the definitive Securities in lieu of which they are issued, in
registered fora or, if authorized, in bearer form with one or more coupons or without coupons, and
with such appropriate insertions, omissions, substitutions and other variations as the officers
executing such Securities and coupons may determine, as evidenced by their execution of such
Securities and coupons. In the case of Securities of any series, such temporary Securities may be
in global form, representing all or a portion of the Outstanding Securities of such series.




          If temporary Securities of any series are issued, the Company will cause definitive
Securities of that series to be prepared without unreasonable delay. Except as




25









 




otherwise specified as contemplated by Section 3.01(12)(y) with respect to a series of Securities
issuable as Bearer Securities, (a) after the preparation of definitive Securities of such series,
the temporary Securities of such series shall be exchangeable for definitive Securities of such
series upon surrender of the temporary Securities of such series at the office or agency of the
Company in a Place of Payment for such series and (b) upon surrender for cancellation of any one or
more temporary Securities of any series (accompanied by any unmatured coupons appertaining
thereto), the Company shall execute and the Trustee shall authenticate and deliver in exchange
therefor a like principal amount of definitive Securities of the same series of authorized
denominations and of like tenor; provided, however, that no definitive Bearer Security
shall be delivered in exchange for a temporary Registered Security; and provided further
that no definitive Bearer Security shall be delivered in exchange for a temporary Security unless
the Company or its agent shall have received from the person entitled to receive the definitive
Bearer Security a certificate substantially in the form set forth in Exhibit A hereto; and
provided further, delivery of a Bearer Security shall occur only outside the United
States; and provided further that neither a beneficial interest in a permanent Global
Security in bearer form nor a definitive Bearer Security will be issued if the Company has reason
to know that such certificate is false. Until so exchanged, the , temporary Securities of any
series shall in all respects be entitled to the same benefits under this Indenture as definitive
Securities of such series except as otherwise specified as contemplated by Section 3.01 with
respect to the payment of interest on Securities in temporary form. Such exchanges shall be made by
the Company at its expense and without any charge therefor.




          SECTION 3.05. Registration; Registration of Transfer and Exchange. The Company
shall cause to be kept for each series of Registered Securities at one of the offices or agencies
maintained in accordance with Section 5.02 a register or registers herein sometimes collectively
referred to as the “Security Register” in which, subject to such reasonable regulations as it may
prescribe, the Company shall provide for the registration of such Registered Securities and of
transfers of such Registered Securities. Said office or agency is hereby appointed “Security
Registrar” for the purpose of registering such Registered Securities and transfers of such
Registered Securities as herein provided.




          Upon surrender for registration of transfer of any Registered Security of any series at an
office or agency maintained in accordance with Section 5.02, the Company shall execute, and the
Trustee shall authenticate and




26









 




deliver, in the name of the designated transferee or transferees, one or more new Registered
Securities of the same series and of like tenor, of any authorized denominations and of a like
aggregate principal amount and Stated Maturity.




          In no case shall there be more than one Security Register for a series of Registered
Securities.




          At the option of the Holder, Registered Securities of any series (except a Global Security)
may be exchanged for other Registered Securities of the same series and of like tenor, of any
authorized denominations and of a like aggregate principal amount and Stated Maturity, upon
surrender of the Registered Securities to be exchanged at such office or agency. Whenever any
Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall
authenticate and deliver, the Securities which the Holder making the exchange is entitled to
receive. Bearer Securities may not be delivered in exchange for Registered Securities.




          Notwithstanding any other provision of this Section, unless and until it is exchanged in whole
or in part for Securities in definitive registered farm, a Global Security representing all or a
portion of the Securities of a series may not be transferred except as a whole by the Depositary to
the nominee of the Depositary or by a nominee of the Depositary to the Depositary or another
nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or to
a nominee of such successor Depositary.




          At the option of the Holder except as otherwise specified as contemplated by Section
3.01(12)(y) with respect to a Global Security issued in bearer form, Registered Securities may be
issued in exchange for Bearer Securities of the same series (if the Securities of such series are
issuable as Registered Securities) or Bearer Securities of any series may be issued in exchange for
Bearer Securities of the same series (if Bearer Securities of such series are issuable in more than
one denomination), of any authorized denomination and of like tenor and aggregate principal amount,
upon surrender of the Bearer Securities to be exchanged at any such office or agency, with all
unmatured coupons and all matured coupons in default thereto appertaining; provided
however, delivery of a Bearer Security shall occur only outside the United States. If the
Holder of a Bearer Security is unable to produce any such unmatured coupon or coupons or matured
coupon or coupons in default, such exchange may be effected if the Bearer Securities are
accompanied by payment in funds acceptable to the Company in an amount equal to the face




27









 




amount of such missing coupon or coupons, or the surrender of such missing coupon or coupons may be
waived by the Company if there be furnished to the Company and the Trustee such security or
indemnity as the Company may require in its sole discretion to save the Company, the Trustee and
any Paying Agent harmless. If thereafter the Holder of such Security shall surrender to any Paying
Agent any such missing coupon in respect of which such a payment shall have been made, such Holder
shall be entitled to receive the amount of such payment; provided, however, that,
except as otherwise provided in Section 5.02, interest represented by coupons shall be payable only
upon presentation and surrender of those coupons at an office or agency located outside the United
States. Notwithstanding the foregoing, in case a Bearer Security of any series is surrendered at
any such office or agency in exchange for a Registered Security of the same series after the close
of business at such office or agency on (i) any Regular Record Date and before the opening of
business at such office or agency on the relevant Interest Payment Date, or (ii) any Special
Payment Date and before the opening of business at such office or agency on the related date for
payment, of Defaulted Interest, such Bearer Security shall be surrendered without the coupon
relating to such Interest Payment Date or proposed date of payment, as the case may be.




          If at any time the Depositary for the Securities of a series notifies the Company that it is
unwilling or unable to continue as Depositary for the Securities of such series or if at any time
the Depositary for the Securities of such series shall no longer be eligible under Section 3.03,
the Company shall appoint a successor Depositary with respect to the Securities of such series. If
a successor Depositary for the Securities of such series is not appointed by the Company within 90
days after the Company receives such notice or becomes aware of such ineligibility, the Company’s
election pursuant to Section 3.01(13) shall no longer be effective with respect to the Securities
of such series and the Company will execute, and the Trustee, upon receipt of a written order of
the Company for the authentication and delivery of definitive Securities of such series, will
authenticate and deliver as specified in such written order, Securities of such series in
definitive form in an aggregate principal amount equal to the principal amount of the Global
Security or Securities representing such series in exchange for such Global Security or Securities.




          The Company may at any time and in its sole discretion determine that the Securities of any
series issued in the form of one or more Global Securities shall no longer be represented by such
Global Security or Securities. In such event the Company will execute, and the Trustee, upon
receipt of a written order of the Company for the




28









 




authentication and delivery of definitive Securities of such series, will authenticate and deliver
as specified in such written order, Securities of such series in definitive form and in an
aggregate principal amount equal to the principal amount of the Global Security or Securities
representing such series in exchange for such Global Security or Securities.




          If specified by the Company pursuant to Section 3.01 with respect to a series of Securities,
the Depositary for such series of Securities may surrender a Global Security for such series of
Securities in exchange in whole or in part for Securities of such series in definitive form on such
terms as are acceptable to the Company and such Depositary. Thereupon, the Company shall execute,
and the Trustee shall authenticate and deliver, without service charge,





          (i) to each Person specified by such Depositary a new Security or Securities
of the same series, of any authorized denomination as requested by such Person in
aggregate principal amount equal to and in exchange for such Person’s beneficial
interest in the Global Security; and




          (ii) to such Depositary a new Global Security in a denomination equal to the
difference, if any, between the principal amount of the surrendered Global Security
and the aggregate principal amount of Securities delivered to Holders thereof.



          In any exchange provided for in any of the
preceding three paragraphs, the Company will execute and the Trustee will authenticate and deliver
Securities (a) in definitive registered form in authorized denominations, if the Securities of such
series are issuable as Registered Securities, (b) in definitive bearer form in authorized
denominations, with coupons attached, if the Securities of such series are issuable as Bearer
Securities or (c) as either Registered or Bearer Securities, if the Securities of such series are
issuable in either form; provided, however, that no definitive Bearer Security
shall be delivered in exchange for a temporary Global Security unless the Company or its agent
shall have received from the person entitled to receive the definitive Bearer Security a
certificate substantially in the form set forth in Exhibit A hereto; and provided
further delivery of a Bearer Security shall occur only outside the United States; and
provided further that no definitive Bearer Security will be issued if the Company has
reason to know that such certificate is false.




          Upon the exchange of a Global Security for Securities in definitive form, such Global Security
shall be




29









 




cancelled by the Trustee. Registered Securities issued in exchange for a Global Security pursuant
to this Section shall be registered in such names and in such authorized denominations as the
Depositary for such Global Security shall instruct the Trustee. The Trustee shall deliver such
Registered Securities to the persons in whose names such Securities are so registered. The Trustee
shall deliver Bearer Securities issued in exchange for a Global Security pursuant to this Section
to the persons, and in such denominations, as the Depositary for such Global Security shall
instruct the Trustee; provided, however, that no definitive Bearer Security shall
be delivered in exchange for a temporary Global Security unless the Company or its agent shall have
received from the person entitled to receive the definitive Bearer Security a certificate
substantially in the form set forth in Exhibit A hereto; and provided further
delivery of a Bearer Security shall occur only outside the United States; and provided
further that no definitive Bearer Security will be issued if the Company has reason to know
that such certificate is false.




          All Securities issued upon any registration of transfer or exchange of Securities shall be the
valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under
this Indenture, as the Securities surrendered upon such registration of transfer or exchange.




          Every Registered Security presented or surrendered for registration of transfer or for
exchange shall (if so required by the Company or the Trustee) be duly endorsed, or be accompanied
by a written instrument of transfer in form satisfactory to the Company and the Security Registrar
duly executed, by the Holder thereof or his attorney duly authorized in writing.




          No service charge shall be made for any
registration of transfer or exchange of Securities, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in connection with any
registration of transfer or exchange of Securities.




          The Company shall not be required (i) to issue, register the transfer of or exchange
Securities of any particular series during a period beginning at the opening of business 15 days
before the day of selection of Securities of such series to be redeemed under Section 4.02 and
ending at the close of business on the day of the mailing of a notice of redemption of Securities
of such series selected for redemption, or (ii) to register the transfer of or exchange any
Registered Security so selected for redemption in whole or in part, except the unredeemed




30









 




portion of any Registered Security being redeemed in part, or (iii) to exchange any Bearer
Security so selected for redemption except that such a Bearer Security may be exchanged for a
Registered Security of that series (if the Securities of such series are issuable as Registered
Securities), provided that such Registered Security shall be immediately surrendered for
redemption with written instruction for payment consistent with the provisions of this Indenture.




          SECTION 3.06. Mutilated, Destroyed, Lost and Stolen Securities. If any mutilated
Security, or a Bearer Security with one or more mutilated coupons appertaining to it, is
surrendered to the Trustee, the Company shall execute, and the Trustee shall authenticate and
deliver in exchange therefor a new Security, with, if Bearer Securities, all coupons corresponding
to the coupons surrendered with the surrendered Bearer Security (including mutilated coupons), if
any, of the same series and of like tenor and principal amount and bearing a number not
contemporaneously outstanding.




          If there shall be delivered to the Company and the Trustee (i) evidence to their satisfaction
of the destruction, loss or theft of any Security or coupon and (ii) such security or indemnity as
may be required by them to hold each of them and any agent of either of them harmless, then, in the
absence of notice to the Company or the Trustee that such Security or coupon has been acquired by
a bona fide purchaser, the Company shall execute and upon its request the Trustee shall
authenticate and deliver, in lieu of any such destroyed, lost or stolen Security or in exchange for
the Security to which a destroyed, lost or stolen coupon appertains (upon surrender to the Trustee
of such Security with all appurtenant coupons not destroyed, lost or stolen), a new Security of the
same series and of like tenor and principal amount and bearing a number not contemporaneously
outstanding, with coupons corresponding to the coupons, if any, appertaining to such destroyed,
lost or stolen Security or to the Security to which such destroyed, lost or stolen coupon
appertains.




          In case any such mutilated, destroyed, lost or stolen Security or coupon has become or is
about to become due and payable, the Company in its discretion may, instead of issuing a new
Security or coupon, pay such Security or coupon; provided, however, that principal
of (and premium, if any) and any interest on Bearer Securities shall, except as otherwise provided
in Section 5.02, be payable only at an office or agency located outside the United States and
unless otherwise specified as contemplated by Section 3.01, any interest on Bearer Securities
shall be payable only upon




31









 




presentation and surrender of the coupons appertaining thereto.




          Upon the issuance of any new Security or coupon under this Section, the Company may require
the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed
in relation thereto and any other expenses (including the fees and expenses of the Trustee)
connected therewith.




          Every new Security or coupon of any series issued pursuant to this Section in lieu of any
destroyed, lost or stolen Security or coupon shall constitute an original additional contractual
obligation of the Company, whether or not the destroyed, lost or stolen Security or coupon shall be
at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture
equally and proportionately with any and all other Securities or coupons of that series duly issued
hereunder.




          The provisions of this Section are exclusive and shall preclude (to the extent lawful) all
other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost
or stolen Securities or coupons.




          SECTION 3.07. Payment of Defaulted Interest; Interest Rights Preserved. Interest on
any Registered Security which is payable, and is punctually paid or duly provided for, on any
Interest Payment Date shall be paid to the Person in whose name that Registered Security (or one or
more Predecessor Securities) is registered at the close of business on the Regular Record Date for
such interest.




          Any interest on any Registered Security of any series which is payable, but is not punctually
paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall
forthwith cease to be payable to the Holder on the relevant Regular Record Date, and such Defaulted
Interest may be paid by the Company, at its election, as provided in either Clause (1) or (2)
below:




          (1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose
names the Registered Securities of such series (or their respective Predecessor Securities) are
registered at the close of business on a Special Record Date for the payment of such Defaulted
Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in
writing as to the amount of Defaulted Interest proposed to be paid on each Registered Security of
such series and the date of the proposed payment, and at the same time the Company shall deposit
with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of
such




32









 




Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to
the date of the proposed payment, such money when deposited to be held in trust for the benefit of
the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee
shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more
than 15 days and not less than 10 days prior to the date of the proposed payment and not less than
10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall
promptly notify the Company of such Special Record Date and, in the name and at the expense of the
Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special
Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Registered
Securities of such series at his address as it appears in the Security Register, not less than 10
days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest
and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid
to the Persons in whose names the Registered Securities of such
series (or their respective
Predecessor Securities) are registered at the close of business on such Special Record Date. In
case a Bearer Security of any series is surrendered at the office or agency in a Place of Payment
for such series in exchange for a Registered Security of such series after the close of business at
such office or agency on any Special Record Date and before the opening of business at such office
or agency on the related  proposed date for payment of Defaulted Interest, such Bearer Security
shall be surrendered without the coupon relating to such proposed date of payment and Defaulted
Interest will not be payable on such proposed date of payment in respect of the Registered Security
issued in exchange for such Bearer Security, but will be payable only to the Holder of such coupon
when due in accordance with the provisions of this Indenture.




          (2) The Company may make payment of any Defaulted Interest on the Registered Securities of
any series in any other lawful manner not inconsistent with the requirements of any securities
exchange on which such Registered Securities may be listed, and upon such notice as may be
required by such exchange, if, after notice given by the Company to the Trustee of the proposed
payment pursuant to this Clause, such manner of payment shall be deemed practicable by the
Trustee.




          Subject to the foregoing provisions of this Section, each Security delivered under this
Indenture upon registration of transfer of or in exchange for or in lieu of any other Security
shall carry the rights to interest




33









 




accrued and unpaid, and to accrue, which were carried by such other Security.




          SECTION 3.08. Persons Deemed Owners. The Company, the Trustee and any agent of the
Company or the Trustee may treat the Person in whose name any Registered Security is registered as
the owner of such Registered Security for the purpose of receiving payment of principal of,
premium, if any, and (subject to Section 3.07) interest, if any, on such Registered Security and
for all other purposes whatsoever, whether or not such Registered Security be overdue, and neither
the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to
the contrary.




          The Company, the Trustee and any agent of the Company or the Trustee may treat the bearer of
any Bearer Security and the bearer of any coupon as the absolute owner of such Bearer Security or
coupon for the purpose of receiving payment thereof or on account thereof and for all other
purposes whatsoever, whether or not such Bearer Security or coupon be overdue, and neither the
Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the
contrary.




          None of the Company, the Trustee, any Paying Agent or the Security Registrar will have any
responsibility or liability for any aspect of the records relating to or payments made on account
of beneficial ownership interests of a Global Security or for maintaining, supervising or reviewing
any records relating to such beneficial ownership interests.




          SECTION 3.09. Cancellation. All Securities surrendered for payment, redemption,
registration of transfer or exchange or for credit against any payment in respect of a sinking fund
or analogous obligation shall, if surrendered to any Person other than the Trustee, be delivered to
the Trustee and shall be promptly cancelled by it. The Company may at any time deliver to the
Trustee for cancellation any Securities previously authenticated and delivered hereunder which the
Company may have acquired in any manner whatsoever, and all Securities so delivered shall be
promptly cancelled by the Trustee. No Securities shall be authenticated in lieu of or in exchange
for any Securities cancelled as provided in this Section, except as expressly permitted by this
Indenture. All cancelled Securities held by the Trustee shall be destroyed by the Trustee and the
Trustee shall deliver to the Company a certificate of destruction in respect thereof.




          SECTION 3.10. Computation of Interest. Except as otherwise specified as contemplated
by Section 3.01 for





34










 




Securities of any series, any interest on the Securities of each series shall be computed on
the basis of a 360-day year of twelve 30-day months.




     SECTION 3.11. Currency and Manner of Payments in Respect of Securities. The
provisions of this Section shall apply to the Securities of any
series unless otherwise provided
as contemplated by Section 3.01.



     (a) The following payment provisions shall apply to any Registered Security of any series
denominated in Dollars, a Foreign Currency or any currency unit, including without limitation ECU,
except as provided in paragraph (b) below:




     (1)
Except as provided in subparagraph (a)(2) or in paragraph (d) below,
payment of principal of and premium, if any, on such Registered Security will be
made at the Place of Payment by delivery of a check in the currency or currency
unit in which the Security is denominated on the payment date against surrender of
such Registered Security, and, at the option of the Company, any interest on any
Registered Security will be paid at the Place of Payment by mailing a check in the
currency or currency unit in which such interest is payable (which shall be the
same as that in which the Registered Security is denominated unless otherwise
provided) to the Holder entitled thereto at the address of such Holder appearing on
the Security Register.




     (2) Payment of the principal of, premium, if any, and interest, if any, on
such Registered Security may also, subject to applicable laws and regulations, be
made at such other place or places by any appropriate method as may be designated
by the Company.



     (b) With respect to any Registered Security of any series denominated in any Foreign Currency
or currency unit, including without limitation ECU, if the following provisions (or any substitute
therefor, or addition thereto, not inconsistent with this Indenture) are established pursuant to
Section 3.01 or a supplemental indenture hereto and if the Company has not, before the delivery of
the election referred to in clause (1) below, deposited funds or securities in compliance with
Section 12.01 or (if specified pursuant to Section 3.01) Section 12.02 or provided for the payment
of the Securities pursuant to paragraph (a) above, the following payment provisions shall apply to
any payment to be made prior to the giving of any notice to Holders of



35









 




any election to redeem pursuant to Section 4.02, except as otherwise provided in paragraphs (e) and
(f) below:





     (1) A Holder of Registered Securities of a series shall have the option to
elect to receive payments of principal of, premium, if any, and interest, if any, on
such Registered Securities in a currency (including Dollars) or currency unit, other
than that in which the Registered Security is denominated, as may be designated for
such election in the certificates for such Registered Securities (or as provided
pursuant to Section 3.01 or a supplemental indenture hereto). Such election shall
be made by delivering to the Trustee a written election, in form and substance
satisfactory to the Trustee, not later than the close of business in New York, New
York, on the day 15 days prior to the applicable payment date, or, if such payment
date is an Interest Payment Date, not later than the close of business in New York,
New York, on the Regular Record Date for such Interest Payment Date. Such election
will remain in effect for such Holder until changed by the Holder by written notice
to the Trustee (but any such written notice must be received by the Trustee not
later than the close of business on the day 15 days prior to the next payment date,
or, if such payment date is an Interest Payment Date, the close of business on the
Regular Record Date for such Interest Payment Date, to be effective for the payment
to be made on such payment date and no such change may be made with respect to
payments to be made on any Registered Security of such series with respect to which
notice of redemption has been given by the Company pursuant to Article Four).
Following delivery of such election to the Trustee and until such election is
changed, payment of principal and premium, if any, will be made at the Place of
Payment by delivery of a check in the currency or currency unit so elected on the
payment date therefor against surrender of such Registered Security and payment of
interest, if any, shall be made at the Place of Payment by mailing a check in the
currency or currency unit so elected to the Holder entitled thereto at the address
of such Holder appearing on the Security Register. Any Holder of any such
Registered Security who shall not have delivered any election to the Trustee in
accordance with this paragraph (b) will be paid the amount due on the applicable
payment date in the Foreign Currency or currency unit in which the



36









 






Registered Security is denominated or payable as provided in paragraph (a) of
this Section 3.11.




     (2) Payment of the principal of, premium, if any, and interest, if any, on
such Registered Security may also, subject to applicable laws and regulations, be
made at such other place or places as may be designated by the Company by any
appropriate method.



     (c) Payment of the principal of, premium, if any, and interest, if any, on any Bearer
Security will be made, except as provided in Section 3.04 with respect to temporary Global
Securities, unless otherwise specified pursuant to Section 3.01, at such place or places outside
the United States as may be designated by the Company pursuant to any applicable laws or
regulations by any appropriate method in the currency or currencies or currency unit or units in
which the Bearer Security is payable (except as provided in paragraph (e) below) on the payment
date therefor against surrender of the Bearer Security, in the case of payment of principal and
premium, if any, or the relevant coupon, in the case of payment of interest, if any, to a Paying
Agent designated for such series pursuant to Section 5.02.



     (d) If the election referred to in paragraph (b) above has been provided for pursuant to
Section 3.01 and if at least one Holder has made such election, then, (i) not
later than 10 days prior to each payment date, the Trustee shall deliver to the Company
written notice specifying the respective aggregate amounts of principal of, premium, if any,
and interest, if any, on the Securities to be paid on such payment date, and the currency or
currency unit in which each of such respective aggregate amounts are to be paid, specifying
the amounts so payable in respect of Registered Securities and Bearer Securities, and
specifying the amounts so payable in respect of the Registered Securities denominated in each
Foreign Currency or currency unit as to which the Holders shall have elected to be paid in
another currency or currency unit as provided in paragraph (b) above, and (ii) not later than
the seventh day prior to the applicable payment date the Company will deliver to the Trustee
an Exchange Rate Officer’s Certificate in respect of the Dollar or Foreign Currency or
currency unit payments to be made on such payment date. The Dollar or Foreign Currency or
currency unit amount receivable by Holders of the Securities denominated in a Foreign Currency
or currency unit who have elected payment in another currency or currency unit as provided in
paragraph (b) above shall be determined by the Company on the basis of the applicable Official
Exchange Rate set forth in the applicable Exchange Rate Officer’s Certificate.



37









 





     (e) If a Foreign Currency in which any Security is denominated or payable ceases to be
recognized both by the government of the country which issued such currency and for the settlement
of transactions by public institutions of or within the international banking community, or, with
respect to any Securities denominated or payable in ECU, if ECU ceases to be used both within the
European Communities and for the settlement of transactions by public institutions of or within the
European Communities, or if any other currency unit in which a Security is denominated or payable
ceases to be used for the purposes for which it was established, in each case determined in good
faith by the Company, then with respect to each date for the payment of principal of, premium, if
any, and interest, if any, on the applicable Security denominated or payable in such Foreign
Currency, ECU or such other currency unit occurring after the last date on which such Foreign
Currency, ECU or such other currency unit was so used (the “Conversion Date”), the Dollar shall
become the alternative currency of payment for use on each such payment date (unless a currency or
currency unit other than the Dollar is specified as the alternative currency of payment for the
purposes of this paragraph in the certificates for such Securities (or as provided pursuant to
Section 3.01 or a supplemental indenture hereto)); provided,
however, that the Foreign
Currency or ECU or the currency unit previously the currency of payment shall, at the Company’s
election, resume being the currency of payment on the first such payment date preceded by 15
Business Days during which the circumstances which gave rise to the Dollar (or such other currency
or currency unit as may be specified as the alternative currency of payment) becoming such
alternative currency of payment no longer prevail, in each case as determined in good faith by the
Company. The Dollar (or such other currency or currency unit as may be specified as the
alternative currency of payment) amount to be paid by the Company to the Trustee and by the Trustee
or any Paying Agent to the Holder of such Security with respect to such payment date shall be the
Dollar Equivalent of the Foreign Currency or, in the case of a currency unit, the Dollar Equivalent
of the Currency Unit, as determined by the Dollar Determination Agent (which shall deliver its
determination of such amount to be paid by the Company in writing to the Trustee not later than the
fifth Business Day prior to the applicable payment date) as of the Conversion Date or, if later,
the date most recently preceding the payment date in question on which such determination is
possible of performance, but not more than 15 days before such payment date (such Conversion Date
or date preceding a payment date as aforesaid being called the “Valuation Date”) in the manner
provided in paragraph (f) or (g) below.



38









 





     (f) If the Holder of a Registered Security denominated in a Foreign Currency or a currency
unit elects payment in another designated Foreign Currency or currency unit as provided for by
paragraph (b) above and (i) if a Foreign Currency is so elected and ceases to be used both by the
government of the country which issued such currency and for the settlement of transactions by
public institutions of or within the international banking community, or (ii) if ECU is so elected
and ceases to be used both within the European Communities and for the settlement of transactions
by public institutions of or within the European Communities, or (iii) if any such other currency
unit is so elected and ceases to be used for the purposes for which it was established, then, in
each case as determined in good faith by the Company, such Holder shall (subject to paragraph (d)
above) receive payment in the Foreign Currency or currency unit in which the Registered Security is
denominated. Each payment covered by an election pursuant to paragraph (b) above shall be governed
by the provisions of this paragraph (f); provided, however, subject to any contravening
valid election pursuant to paragraph (b) above, the designated Foreign Currency in case (i) or ECU
in case (ii) or any other designated currency unit in case (iii) shall, at the Company’s election,
resume being the currency or currency unit, as applicable, of payment with respect to Registered
Securities as to which the Holders have so elected, but only with respect to payments on payment
dates preceded by 15 Business Days during which the circumstances which gave rise to such Foreign
Currency or currency unit in which the Registered Security is denominated again becoming the
currency or currency unit, as applicable, of payment pursuant to this paragraph (f), no longer
prevail, in each case as determined in good faith by the Company.



     (g) The “Dollar Equivalent of the Foreign Currency” shall be determined by the Dollar
Determination Agent as of each Valuation, Date and shall be obtained by converting the specified
Foreign Currency into Dollars (or such other currency or currency unit as may be specified as the
alternative currency of payment for the purposes of paragraph (e) above) at the Market Exchange
Rate on the Valuation Date.



     (h) The “Dollar Equivalent of the Currency Unit” shall be determined by the Dollar
Determination Agent as of each Valuation Date and shall be the sum obtained by adding together the
results obtained by converting the Specified Amount of each Component Currency into Dollars (or
such other currency or currency unit as may be specified as the alternative currency of payment for
the purposes of paragraph (e) above) at the Market Exchange Rate on the Valuation Date for such
Component Currency.



39









 





     (i) For purposes of this Section 3.11 the following terms shall have the following
meanings:




     A “Component Currency” shall mean any
currency which, on the Conversion Date, was a
component currency of the relevant currency unit, including without limitation ECU.




     A “Specified Amount” of a Component Currency shall mean the number of units or
fractions thereof which such Component Currency represented in the relevant
currency unit, including without limitation ECU, on the Conversion Date. If after
the Conversion Date the official unit of any Component Currency is altered by way
of combination or subdivision, the Specified Amount of such Component Currency
shall be divided or multiplied in the same proportion. If after the Conversion Date
two or more Component Currencies are consolidated into a single currency, the
respective Specified Amounts of such Component Currencies shall be
replaced by an
amount in such single currency equal to the sum of the respective Specified Amounts
of such consolidated Component Currencies expressed in such single currency, and
such amount shall thereafter be a Specified Amount and such single currency shall
thereafter be a Component Currency. If after the Conversion Date any Component
Currency shall be divided into two or more currencies, the Specified Amount of such
Component Currency shall be replaced by specified amounts of such two or more
currencies, the sum of which, at the Market Exchange Rate of such two or more
currencies on the date of such replacement, shall be equal to the Specified Amount
of such former Component Currency and such amounts shall thereafter be Specified
Amounts and such currencies shall thereafter be Component Currencies.




     “Market Exchange Rate” shall mean
(unless a currency or currency unit other than the Dollar is specified as the
alternative currency of payment for purposes of paragraph (d) above) for any
currency the noon Dollar buying rate for that currency for cable transfers quoted
in New York City on the Valuation Date as certified for customs purposes by the
Federal Reserve Bank of New York. If such rates are not available for any reason
with respect to one or more currencies for which an Exchange Rate is required, the
Dollar Determination Agent shall use, in its sole



40









 






discretion and without liability on its part, such quotation of the Federal Reserve
Bank of New York as of the most recent available date, or quotations from one or
more major banks in New York City or in the country of issue of the currency in
question, or such other quotations as the Dollar Determination Agent shall deem
appropriate. Unless otherwise specified by the Dollar Determination Agent, if
there is more than one market for dealing in any currency by reason of foreign
exchange regulations or otherwise, the market to be used in respect of such
currency shall be that upon which a nonresident issuer of securities designated in
such currency would, as determined in its sole discretion and without liability on
the part of the Dollar Determination Agent, purchase such currency in order to make
payments in respect of such securities If a currency or currency unit other than
the Dollar is specified as the alternative currency of payment for purposes of
paragraph (d) above, the meaning of Market Exchange Rate shall be specified in the
certificates for the Securities (or as provided pursuant to Section 3.01 or a
supplemental indenture hereto).



     All decisions and determinations of the Dollar Determination Agent regarding the Dollar
Equivalent of the Foreign Currency, the Dollar Equivalent of the Currency Unit and the Market
Exchange Rate shall be in its sole discretion and shall in the absence of manifest error, be
conclusive for all purposes and irrevocably binding upon the Company and all Holders of the
Securities denominated or payable in the relevant currency or currency units. In the event that a
Foreign Currency ceases to be used both by the government of the country which issued such currency
and for the settlement of transactions by public institutions of or within the international
banking community, the Company, after learning thereof will immediately give notice thereof to the
Trustee (and the Trustee will promptly thereafter give notice in the manner provided in Section
1.04 to the Holders) specifying the Conversion Date. In the event the ECU ceases to be used both
within the European Communities and for the settlement of transactions by public institutions of or
within the European Communities, or any other currency unit in which Securities are denominated or
payable, ceases to be used for the purposes for which it was established, the Company, after
learning thereof will immediately give notice thereof to the Trustee (and the Trustee will promptly
thereafter give notice in the manner provided in Section 1.04 to the Holders) specifying the
Conversion Date and the Specified Amount of each Component Currency on the Conversion Date. In the
event of any




41









 







Treasurer or an Assistant Treasurer of the Company specifying the amount of the next ensuing
sinking fund payment for that series pursuant to the terms of that series, the portion thereof, if
any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be
satisfied through delivery and/or crediting of Securities of that series pursuant to Section 4.06
(which Securities will, if not previously delivered, accompany such certificate) and whether the
Company intends to exercise its right to make a permitted optional sinking fund payment with
respect to such series. Such certificate shall be irrevocable, and upon its delivery the Company
shall be obligated to make the cash payment or payments therein referred to, if any, prior to such
sinking fund payment date. In the case of the failure of the Company to deliver such certificate,
the sinking fund payment due with respect to the next sinking fund payment date for that series of
Securities shall be paid entirely in cash and shall be made in an amount sufficient to redeem the
principal amount of such Securities subject to a mandatory sinking fund payment without the option
to deliver or credit Securities as provided in Section 4.06 and without the right to make any
optional sinking fund payment with respect to such series.




     Any sinking fund payment or payments (mandatory or optional) made in cash, plus any unused
balance of any preceding sinking fund payments made in cash, which shall equal or exceed $100,000
(or the equivalent in Foreign Currency or currency units in which Securities of the series are
payable if applicable), or a lesser sum if the Company shall so request, with respect to the
Securities of any particular series shall be applied by the Trustee, a Paying Agent or the Company,
if it acts as its own Paying Agent, on the sinking fund payment date next following the date of
such payment to the redemption of such Securities at the redemption price specified in such
Securities for operation of the sinking fund together with accrued interest, if any, to the sinking
fund payment date. Any sinking fund moneys not so applied or allocated to the redemption of
Securities shall be added to the next cash sinking fund payment received by the Trustee or such
Paying Agent or set aside and segregated by the Company for such series and, together with such
payment, shall be applied in accordance with the provisions of this Section 4.07. Any and all
sinking fund moneys with respect to the Securities of any particular series held by the Trustee,
such Paying Agent or the Company on the last sinking fund payment date with respect to Securities
of such series and not held for the payment or redemption of particular Securities shall be applied
by the Trustee, such Paying Agent or the Company, together with other moneys, if necessary, to be
deposited sufficient for



42









 




the purpose, to the payment of principal of such Securities at maturity.




     Not more than 60 days and not less than 30 days prior to each sinking fund payment date the
Trustee shall select the Securities to be redeemed upon such sinking fund payment date in
accordance with Section 4.02. The Company shall cause notice of the redemption thereof to be given
not less than 30 nor more than 60 days prior to the sinking fund payment date in the manner
provided in Section 4.02, except that the notice of redemption shall also state that the Securities
of such series are being redeemed by operation of the sinking fund and the sinking fund payment
date. Such notice having been duly given, the redemption of such Securities shall be made on the
sinking fund payment date upon the terms and in the manner stated in Section 4.03.



     Prior to each sinking fund payment date, the Company shall pay to the Trustee or to a Paying
Agent in cash (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as
provided in Section 5.05(b)) a sum equal to any interest accrued to the date fixed for redemption
of Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this
Section.



43









 





ARTICLE
FIVE


PARTICULAR COVENANTS OF THE COMPANY




     The Company covenants that so long as any of the Securities shall remain outstanding:



     SECTION 5.01. Payments of Principal, Premium, if any, and Interest, if any. The
Company covenants and agrees for the benefit of each series of Securities that it will duly and
punctually pay or cause to be paid the principal of, premium, if any, and interest, if any, on each
of the Securities of that series at the times and places and in the manner provided herein and in
the Securities of that series.



     SECTION
5.02. Office or Agency for Certain Purposes. The Company will maintain in
each Place of Payment for any series of Securities an office or agency where Securities of such
series (but, except as otherwise provided below, unless such Place of Payment is located outside
the United States, not Bearer Securities) may be presented or surrendered for payment, where
Securities of such series may be surrendered for registration of transfer or exchange and where
notices and demands to or upon the Company in respect of the Securities of such series and this
Indenture may be served. If Securities of a series are issuable as Bearer Securities, the Company
will maintain, subject to any laws or regulations applicable thereto, an office or agency in a
Place of Payment for such series that is located outside the United States where Securities of such
series may be presented and surrendered for payment; provided,
 however, that such
an office or agency shall be maintained, if the Securities of such series are then listed on The
International Stock Exchange of the United Kingdom and the Republic of Ireland and such stock
exchange shall so require, in London, and, if the Securities of such series are then listed on the
Luxembourg Stock Exchange and such stock exchange shall so require, in Luxembourg and, if the
Securities of such series are then listed on any other stock exchange outside the United States and
such stock exchange shall so require, in any other required city, so long as the Securities of such
series are listed on such exchanges. The Company will give prompt written notice to the Trustee of
the location, and any change in the location of, any such office or agency.



     No payment of principal of or premium or interest on Bearer Securities shall be made at any
office or agency of the Company in the United States or by check mailed to any address in the
United States or by transfer to an account maintained with a bank located in the United States;
provided, however, payment of principal of and any premium



44









 




and interest (including additional amounts payable in respect thereof) on any Bearer Security may
be made in Dollars at the principal office of the Trustee in the Borough of Manhattan, The City of
New York if (but only if), payment of the full amount of such principal, premium, interest or
additional amounts at all offices outside the United States maintained for the purpose by the
Company in accordance with this Indenture is illegal or effectively precluded by exchange controls
or other similar restrictions.




     The Company may also from time to time designate one or more other offices or agencies (in or
outside The City of New York) where the Securities of one or more series may be presented or
surrendered for any or all such purposes, and may from time to time rescind such designations;
provided, however, that no such designation or rescission shall in any manner
relieve the Company of its obligation to maintain an office or agency in accordance with the
requirements set forth above. The Company will give prompt written notice to the Trustee of any
such designation or rescission and of any change in the location of any such other office or
agency.



     SECTION 5.03. Maintenance of Corporate Existence and Payment of Taxes. The Company
will preserve its corporate existence, but this covenant shall not require the Company to continue
its corporate existence in the event of a consolidation or merger of the Company with or into any
other corporation in accordance with the provision of Article Eleven hereof as a result of which
the Company shall lose its corporate identity, or in the event of a sale or conveyance of the
property of the Company as an entirety or substantially as an entirety in accordance with the
provisions of said Article Eleven. The Company will duly and punctually pay and discharge, or
cause to be paid and discharged, all taxes, assessments and governmental charges or levies imposed
upon or assessed against the Company which are material to the Company; provided, however,
that nothing herein contained shall require the Company to pay any such tax, assessment, charge or
levy so long as the Company shall in good faith contest the validity or the amount of the same by
appropriate legal proceedings and stay any execution thereof.



     SECTION 5.04. Appointments to Fill Vacancies in Trustee’s Office. The Company,
whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner
provided in Section 7.08, a Trustee, so that there shall at all times be a Trustee hereunder.



     SECTION
5.05. Provisions as to Paying Agent. (a) If the Company shall appoint a
Paying Agent other than the



45









 




Trustee with respect to any series of Securities, it will cause such Paying Agent to execute and
deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to
this Section, that it will, in addition to fulfilling the duties provided in Section 317 of the
Trust Indenture Act, at any time during the continuance of any such default, upon the written
request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying
Agent.




     (b) If
the Company shall act as its own Paying Agent with respect to any series of Securities,
it will comply with Section 317 of the Trust Indenture Act.



     (c) Whenever the Company shall have one or more Paying Agents for any series of Securities, it
will, at or prior to 12:00 p.m. on each due date, except with respect to bonds issued outside the
United States which it will, at or prior to 5:00 p.m. on the day prior to each due date, of the
principal of, premium, if any, or interest, if any, on any Securities of that series, deposit with
a Paying Agent a sum sufficient to pay the principal, premium, if any, or interest, if any, so
becoming due, such sum to be held in trust for the benefit of the Holders of such Securities, and
(unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its
action or failure so to act.



     (d) Anything in this Section to the contrary notwithstanding, the Company may, at any time,
for the purpose of obtaining a satisfaction and discharge with respect to one or more or all series
of Securities hereunder, or for any other reason, pay or cause to be paid to the Trustee all sums
held in trust for any such series by it, or by any Paying Agent hereunder, as required by this
Section, such sums to be held by the Trustee upon the trusts herein contained.



     (e) Anything in this Section to the contrary notwithstanding, the agreement to hold sums in
trust as provided in this Section is subject to Sections 12.04
and 12. 05.



     SECTION 5.06. Annual Officers’ Certificate to Trustee. The Company will deliver to
the Trustee within 120 days of the end of each fiscal year of the Company (which as of the date
hereof ends on December 31 of each year) an Officers’ Certificate complying with Section 314 of the
Trust Indenture Act.



     SECTION 5.07. Reports to Be Furnished Holders. The Company will transmit or cause to
be transmitted to the Holders, as soon as practicable after the mailing of such



46









 




material
to its stockholders, copies of all quarterly and annual financial reports distributed to
its stockholders generally. Reports pursuant to this Section shall be transmitted by mail to all
Holders of Securities, as the names and addresses of such Holders appear upon the Security
Register.




     SECTION 5.08. Further Assurances. From time to time whenever reasonably demanded by
the Trustee, the Company will make, execute and deliver or cause to be made, executed and delivered
any and all such further and other instruments and assurances as may be reasonably necessary or
proper to carry out the intention or facilitate the performance of the terms of this Indenture.



     SECTION 5.09. Limitation on Liens. The Company will not create, assume or suffer to
exist any Lien upon any Restricted Property to secure any debt of the Company, any subsidiary or
any other person, or permit any Subsidiary to do so, without making effective provision whereby the
Securities then outstanding and having the benefit of this Section shall be secured by the Lien
equally and ratably with such debt for so long as such debt shall be so secured, except that the
foregoing shall not prevent the Company or any Subsidiary from creating, assuming or suffering to
exist Liens of the following character:



     (1) with respect to any series of Securities, any Lien existing on the date of issuance of
the first security in such series;



     (2) any Lien existing on property owned or leased by a corporation at the time it becomes a
Subsidiary;



     (3) any Lien existing on property at the time of the acquisition thereof by the Company or a
Subsidiary;



     (4) any Lien to secure any debt incurred prior to, at the time of, or within 12 months after
the acquisition of Restricted Property for the purpose of financing all or any part of the purchase
price thereof and any Lien to the extent that it secures debt which is in excess of such purchase
price and for the payment of which recourse may be had only against such Restricted Property;



     (5) any Lien to secure any debt incurred prior to, at the time of, or within 12 months after
the completion of the construction, alteration, repair or improvement of Restricted Property for
the purpose of financing all or any part of the cost thereof and any Lien to the extent that it
secures debt which is in excess of such cost and for the payment of which recourse may be had only
against such Restricted Property;



47









 





     (6) any Lien securing debt of a Subsidiary owing to the Company or to another Subsidiary;




     (7) any Lien in favor of the United States or any State or territory thereof or any other
country, or any agency, instrumentality or political subdivision of any of the foregoing, to secure
partial, progress, advance or other payments or performance pursuant to the provisions of any
contract or statute, or any Liens securing industrial development, pollution control, or similar
revenue bonds;



     (8) any extension, renewal or replacement (or successive extensions, renewals or replacements)
in whole or in part of any Lien referred to in clauses (1) through (7) above, so long as the
principal amount of the debt secured thereby does not exceed the principal amount of debt so
secured at the time of the extension, renewal or replacement (except that, where an additional
principal amount of debt is incurred to provide funds for the completion of a specific project,
the additional principal amount, and any related financing costs, may be secured by the Lien as
well) and the Lien is limited to the same property subject to the Lien so extended, renewed or
replaced (and improvements on the property); and



     (9) any Lien not permitted by clauses (1) through (8) above securing debt which, together with
the aggregate outstanding principal amount of all other debt of the Company and its Subsidiaries
owning Restricted Property which would otherwise be subject to the foregoing restrictions and the
aggregate Value of existing Sale and Leaseback Transactions which would be subject to the
restrictions of this Section but for this clause (9), does not at any time exceed 15% of
Consolidated Net Tangible Assets.



SECTION 5.10. Limitation on Sale and Leaseback.




     The Company will not enter into any Sale and Leaseback Transaction, nor permit any
Subsidiary owning Restricted Property to do so, unless either:



     (1) the Company or such Subsidiary would be entitled to incur debt, in a principal amount at
least equal to the Value of such Sale and Leaseback Transaction, which is secured by Liens on the
property to be leased (without equally and ratably securing the outstanding Securities) because
such Liens would be of such character that no violation of any of the provisions of Section 5.09
herein would result, or



     (2) the Company during the six months immediately following the effective date of such Sale
and Leaseback



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Transaction causes to be applied to (A) the acquisition of Restricted Property or (B) the voluntary
retirement of Funded Debt (whether by redemption, defeasance, repurchase or otherwise) an amount
equal to the Value of such Sale and Leaseback Transaction.




49









 





ARTICLE SIX




REMEDIES
OF THE TRUSTEE AND

HOLDERS ON EVENT OF DEFAULT




     SECTION 6.01. Events of Default Defined;
Acceleration of Maturity; Waiver of Default. In case one or more of the following Events
of Default shall have occurred and be continuing with respect to the Securities of any series
(unless it is inapplicable to such series of Securities or it is specifically deleted in the
supplemental indenture or Board Resolution under which such series of Securities is issued or has
been modified in any such supplemental indenture), that is to say:



     (a) default in the payment of any installment of interest upon any Security, of such series as
and when the same shall became due and payable, and continuance of such default for a period of 30
days; or



     (b) default in the payment of the principal of or premium, if any, on any Security of such
series as and when the same shall became due and payable either at maturity, upon redemption, by
declaration or otherwise; or



     (c) failure on the part of the company duly to observe or perform its obligations set forth in
Article Eleven, and written notice thereof, requiring the Company to remedy the same and stating
that such notice is a “Notice of Default” hereunder, shall have been given to the Company by the
Trustee, or to the Company and the Trustee by the Holders of at least 25% in aggregate principal
amount of the Securities of such series at the time outstanding; or



     (d) failure on the part of the Company duly to observe or perform any other of the covenants
or agreements on the part of the Company contained in the Securities of such series or in this
Indenture (other than a covenant or agreement which has been expressly included in the Securities
or in this Indenture solely for the benefit of a series of Securities other than that series) for a
period of 60 days after the date on which written notice of such failure, requiring the Company to
remedy the same and stating that such notice is a “Notice of Default” hereunder, shall have been
given to the Company by the Trustee, or to the Company and the Trustee by the Holders of at least
25% in aggregate principal amount of the Securities of such series at the time outstanding; or



     (e) if a decree or order for relief shall be entered by a court of competent jurisdiction in
respect of the Company in an involuntary case under any applicable bankruptcy, insolvency or other
similar law now or hereafter



50









 




in effect, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or
similar official) of the Company or of a major part of its property, or ordering the winding up or
liquidation of the Company’s affairs, and such decree or order shall remain unstayed and in effect
for a period of 60 consecutive days; or




     (f) if the Company shall commence a voluntary case under any applicable bankruptcy, insolvency
or other similar law now or hereafter in effect, or the Company shall consent to the entry by order
of a court of competent jurisdiction of a decree or order in respect of the Company in an
involuntary case or proceeding under any applicable bankruptcy, insolvency or other similar law now
or hereafter in effect or to the commencement of any bankruptcy or insolvency proceeding against
the Company; or



     (g) if the Company shall make an assignment for the benefit of its creditors, or shall admit
in writing its inability to pay its debts generally as they become due, or shall consent to the
appointment of a receiver or liquidator or trustee or assignee in bankruptcy or insolvency of it or
of a major part of its property; or



     (h) the occurrence of any other Event of Default with respect to Securities of such series as
provided in a supplemental indenture applicable to such series of Securities pursuant to Section
10.01(d);



then and in each and every such case, unless the principal of the Securities of such series shall
have already become due and payable, either the Trustee or the Holders of not less than 25% in
aggregate principal amount of the Securities of such series then outstanding hereunder, by notice
in writing to the Company (and to the Trustee if given by Holders), may declare the principal
amount (or, if the Securities of that series are Original Issue Discount Securities, such portion
of the principal amount as may be specified in the terms of that series) of all the Securities of
such series to be due and payable immediately, and upon any such declaration the same shall become
and shall be immediately due and payable, anything in this Indenture or in the Securities of such
series contained to the contrary notwithstanding. This provision, however, is subject to the
condition that if, at any time after the principal of the Securities of such series shall have been
so declared due and payable, and before any sale of property under any judgment or decree for the
payment of the moneys due shall have been obtained or entered as hereinafter provided, the Company
shall pay or shall deposit with the Trustee a sum sufficient to pay all matured installments of
interest upon all the Securities of such series and the principal of and premium, if any, on any
and all Securities of such series




51










 




which shall have become due otherwise than by declaration (with interest on overdue
installments of interest, to the extent legally enforceable under applicable law, and on such
principal of and premium, if any, on each Security of such series at the rate borne by such
Security to the date of such payment or deposit or Yield to Maturity (in the case of an Original
Issue Discount Security)) and the expenses of the Trustee, and reasonable compensation to the
Trustee, its agents, attorneys and counsel, and any and all defaults under this Indenture, other
than the nonpayment of principal on Securities of such series which shall have become due by
declaration, shall have been remedied — then, and in every such case, the Holders of a majority in
aggregate principal amount of the Securities of such series then outstanding, by written notice to
the Company and to the Trustee, may on behalf of the Holders of all of the Securities of such
series waive all defaults and rescind and annul such declaration and its consequences; but no such
waiver or rescission and annulment shall extend to or shall affect any subsequent default, or shall
impair any right consequent thereon.




     In case the Trustee shall have proceeded to enforce any right under this Indenture for the
Holders of Securities of any series and such proceedings shall have been discontinued or abandoned
because of such rescission or annulment or for any other reason or shall have been determined
adversely to the Trustee, then and in every such case the Company, the Trustee and the Holders of
the Securities of such series shall be restored respectively to their several positions and rights
hereunder, and all rights, remedies and powers of the Company, the Trustee and the Holders of the
Securities of such series shall continue as though no such proceedings had been taken.



     The Company and the Trustee may, to the extent provided in Section 10.01, enter into one or
more indentures supplemental hereto with respect to any series of the Securities which may provide
for additional, different or fewer Events of Default with respect to such series of Securities.



     SECTION 6.02. Collection of Indebtedness by
Trustee; Trustee May Prove Debt. The Company covenants that (1) in case default shall be
made in the payment of any installment of interest on any of the Securities, as and when the same
shall become due and payable, and such default shall have continued for a period of 30 days, or (2)
in case default shall be made in the payment of the principal of or premium, if any, on any of the
Securities when and as the same shall have become due and payable, whether upon maturity of the
Securities or upon redemption or upon declaration or otherwise — then, upon demand of the



52









 







Trustee, the Company will pay to the Trustee, for the benefit of the Holders of such Securities,
the whole amount that then shall have become due and payable on such Securities for principal and
premium, if any, and interest if any, with interest upon the overdue principal and premium, if
any, of each such Security and (to the extent legally enforceable under applicable law) upon any
installments of interest, at the rate borne by such Security; and, in addition thereto, such
further amount as shall be sufficient to cover the costs and expenses of collection, including a
reasonable compensation to the Trustee, its agents, attorneys and counsel, and any expenses or
liabilities incurred by the Trustee hereunder other than through its negligence or bad faith.



     All rights of action and of asserting claims under this Indenture, or under any of the
Securities of any series, may be enforced by the Trustee without the possession of any of the
Securities of such series, or the production thereof on any trial or other proceeding relative
thereto, and any such suit or proceeding instituted by the Trustee shall be brought in its own name
as trustee of an express trust, and any recovery of judgment shall be for the ratable benefit of
the Holders of the Securities of such series. In any proceedings brought by the Trustee (and also
any proceedings involving the interpretation of any provision of this Indenture to which the
Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities
of a series, and it shall not be necessary to make any Holders of the Securities of such series
parties to any such proceedings.



     In case of an Event of Default hereunder with respect to Securities of a particular series,
the Trustee may, but unless first requested so to do by the Holders of at least a majority in
aggregate principal amount of the Securities of such series at the time outstanding and furnished
with reasonable indemnity against all costs, expenses and liabilities shall not be under any
obligation to, proceed to protect and enforce the rights vested in it by this Indenture by such
appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce
any of such rights, either by suit in equity or by action at law or by proceedings in bankruptcy or
otherwise, whether for the specific enforcement of any covenant or agreement contained in this
Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other
legal or equitable right vested in the Trustee by this Indenture or by law. Nothing herein
contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on
behalf of the Holder of any Security any plan of reorganization, arrangement, adjustment or
composition affecting the



53









 







Securities of any series or the rights of any Holder thereof, or to authorize the Trustee to vote
in respect of the claim of any Holder of any Security in any such proceeding.



     SECTION 6.03. Application of Proceeds. Any moneys collected by the Trustee with
respect to a series of Securities pursuant to Section 6.02 shall be applied in the order following,
at the date or dates fixed by the Trustee for the distribution of such moneys:



     FIRST: To the payment of all costs and expenses in connection with the collection of such
moneys, and all amounts payable to the Trustee under Section 7.05; and



     SECOND: To the payment of the entire amounts then due and unpaid upon the Securities in
respect of which or for the benefit of which such moneys shall have been collected, without any
preference or priority, ratably according to the amounts due and payable upon such Securities upon
presentation of the several Securities and notation of such payment thereon, if partly paid, and
upon surrender thereof, if fully paid.


Any surplus then remaining shall be paid to the Company or to such other person as shall be
entitled to receive it.




     SECTION 6.04. Limitations on Suits by Holders. No Holder of any Security of any
series shall have any right by virtue or by availing itself of any provision of this Indenture to
institute any suit, action or proceeding in equity or at law upon or under or with respect to this
Indenture or for the appointment of a receiver or trustee, or for any other remedy hereunder,
unless such Holder previously shall have given to the Trustee written notice of default and of the
continuance thereof with respect to the Securities of the series, and unless also the Holders of
not less than 25% in aggregate principal amount of the Securities of that series then outstanding
shall have made written request upon the Trustee to institute such action, suit or proceeding in
its own name as Trustee hereunder and shall have offered to the Trustee such reasonable indemnity
as it may require against the costs, expenses and liabilities to be incurred therein or thereby,
and the Trustee for 60 days after its receipt of such notice, request and offer of indemnity, shall
have failed to institute any such action, suit or proceeding and no direction inconsistent with
such written request shall have been given to the Trustee pursuant to Section 6.06; it being
understood and intended, and being expressly covenanted by the Holder of every Security of such
series with every other Holder of Securities of such series and the Trustee, that no one or more
Holders of Securities of such series shall have



54









 







any right in any manner whatever by virtue or by availing itself of any provision of this Indenture
to affect, disturb or prejudice the rights of the Holders of any other of such Securities or to
obtain priority over or preference to any other such Holder, or to enforce any right under this
Indenture, except in the manner herein provided and for the equal, ratable and common benefit of
all Holders of Securities of such series. For the protection and enforcement of this Section, each
and every Holder and the Trustee shall be entitled to such relief as can be given either at law or
in equity.



     SECTION 6.05. Powers and Remedies Cumulative; Delay or Omission Not Waiver. All
powers and remedies given by this Article to the Trustee or to the Holders of Securities of any
series shall, to the extent permitted by law and subject to Section 6.04, be deemed cumulative and
not exclusive of any thereof or of any other powers or remedies available to the Trustee or such
Holders, by judicial proceedings or otherwise, to enforce the performance or observance of the
covenants and agreements contained in this Indenture, and no delay or omission of the Trustee or of
any Holder of the Securities of any series to exercise any right or power accruing upon any default
occurring and continuing as aforesaid, shall impair any such right or power, or shall be construed
to be a waiver of any such default or an acquiescence therein; and, subject to Section 6.04, every
power and remedy given by this Article or by law to the Trustee or to such Holders may be exercised
from time to time, and as often as shall be deemed expedient, by the Trustee or by such Holders.



     SECTION 6.06. Control by Holders; Waiver of Default. The Holders of a majority in
aggregate principal amount of the Securities of any series at the time outstanding shall have the
right to direct the time, method and place of conducting any proceeding for any remedy available to
the Trustee, or exercising any trust or power conferred on the Trustee with respect to Securities
of such series; provided, however, that such direction shall not be otherwise than in accordance
with law and the provisions of this Indenture; and provided further, that nothing in this Indenture
shall impair the right of the Trustee to take any action deemed proper by the Trustee and which is
not inconsistent with such direction by such Holders. The Holders of at least a majority in
aggregate principal amount of the Securities of any series at the time outstanding may on behalf of
the Holders of all of the Securities of such series waive any past default hereunder with respect
to the Securities of such series and its consequences, except a default in the payment of the
principal of, premium, if any, or interest, if any, on any of the Securities of such



55









 







series. In the case of any such waiver, the Company, the Trustee and the Holders of the Securities
of such series shall be restored to their former positions and rights hereunder, respectively; but
no such waiver shall extend to any subsequent or other default or impair any right consequent
thereon.



56









 





ARTICLE SEVEN




CONCERNING THE TRUSTEE




     SECTION 7.01. Certain Rights of Trustee. Except as otherwise provided in
Section 315 of the Trust Indenture Act:



     (a) The Trustee may rely and shall be protected
in acting, or refraining from acting, upon any resolution,
certificate, statement, instrument, opinion, report, notice,
request, consent, order, bond, debenture or other paper or
document believed by it to be genuine and to have been
signed or presented by the proper party or parties;



     (b) Any request, direction, order or demand of
the Company mentioned herein shall be sufficiently evidenced
by an instrument signed in the name of the Company by the
Chairman of the Board, the President or any Vice President
and the Secretary or an Assistant Secretary or the Treasurer
or the Controller (unless other evidence in respect thereof
be herein specifically prescribed); and any resolution of
the Board of Directors may be evidenced to the Trustee by a
copy thereof certified by the Secretary or an Assistant
Secretary of the Company;



     (c) The Trustee may consult with counsel and the
advice of counsel or any Opinion of Counsel shall be full
and complete authorization and protection in respect of any
action taken, suffered or omitted by it hereunder in good
faith and in reliance thereon;



     (d) The Trustee shall be under no obligation to
exercise any of the rights or powers vested in it by this
Indenture at the request, order or direction of any of the
Holders, pursuant to the provisions of this Indenture,
unless such Holders shall have offered to the Trustee
reasonable security or indemnity against the costs, expenses
and liabilities which may be incurred therein or thereby;



     (e) The Trustee shall not be liable for any
action taken, suffered or omitted by it in good faith and
believed by it to be authorized or within the discretion or
rights or powers conferred upon it by this Indenture;



     (f) Prior to the occurrence of an Event of
Default with respect to any series of Securities hereunder
and after the curing or waiving of all Events of Default
with respect to such series of Securities the Trustee shall
not be bound to make any investigation into the facts or
matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, consent,



57









 







order, approval, appraisal, bond, debenture or other paper or document with respect to such
series of Securities unless requested in writing so to do by the Holders of not less than a
majority in aggregate principal amount of the Securities of such series then outstanding; provided,
that, if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities
likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee,
not reasonably assured to the Trustee by the security afforded to it by the terms of this
Indenture, the Trustee may require reasonable indemnity against such expenses or liabilities as a
condition to so proceeding. The reasonable expense of every such investigation shall be paid by the
Company or, if paid by the Trustee, shall be repaid by the Company upon demand; and



     (g) The Trustee may execute any of the trusts or powers hereunder or perform any duties
hereunder either directly or by or through agents or attorneys, and the Trustee shall not be
responsible for any misconduct or negligence on the part of any agent or attorney appointed with
due care by it hereunder.



     SECTION
7.02. Trustee Not Responsible for Recitals, etc. The recitals contained
herein and in the Securities, except the Trustee’s certificate and the representation as to the
power of the Trustee to enter into this Indenture and accept and execute the trusts hereby created,
shall be taken as the statements of the Company, and the Trustee
assumes no responsibility for the correctness of the same. The Trustee makes no representations as to the validity or sufficiency
of this Indenture or of the Securities. The Trustee shall not be accountable for the use or
application by the Company of any of the Securities or of the proceeds of such Securities.



     SECTION 7.03. Trustee and Others May Hold Securities. The Trustee or any Paying
Agent or Security Registrar or any other agent of the Company or the Trustee, in its individual or
any other capacity, may become the owner or pledgee of Securities and may otherwise deal with the
Company or any other obligor on the Securities with the same rights it would have if it were not
Trustee, Paying Agent, Security Registrar or such other agent.



     SECTION
7.04. Moneys Held by Trustee or Paying
Agent. Subject to Sections 12.03 and 12.04, all moneys received by the Trustee or any
Paying Agent, need not be segregated from other funds except to the extent required by law.
Neither the Trustee nor any Paying Agent shall be under any liability for interest on any moneys
received by it hereunder except such as it may agree with the Company to pay thereon. So long as
no Event of Default with respect to



58









 







Securities of any series other than an Event of Default under subparagraph (d) of Section 6.01,
shall have occurred and be continuing, all interest allowed on any such moneys shall be paid from
time to time upon the written order of the Company, signed by the Chairman of the Board, the
President or any Vice President or its Treasurer or its Controller or its Secretary or an Assistant
Secretary. The provisions of this Section 7.04 shall not apply to the Company acting as its own
Paying Agent pursuant to subparagraph (b) of Section 5.05.



     SECTION 7.05. Compensation of Trustee and Its Lien. The Company covenants and agrees
to pay to the Trustee from time to time, and the Trustee shall be entitled to, reasonable
compensation (which shall be agreed to from time to time by the Company and the Trustee and which
shall not be limited by any provision of law in regard to the compensation of a trustee of an
express trust), and, except as herein otherwise expressly provided, the Company will pay or
reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances
incurred or made by the Trustee in accordance with any of the provisions of this Indenture
(including the reasonable compensation and the expenses and disbursements of its counsel and of all
persons not regularly in its employ) except any such expense, disbursement or advance as may arise
from its negligence or bad faith. If any property other than cash shall at any time be subject to
the lien of this Indenture, the Trustee, if and to the extent authorized by a receivership or
bankruptcy court of competent jurisdiction or by the supplemental instrument subjecting such
property to such lien, shall be entitled to make advances for the purpose of preserving such
property or of discharging tax liens or other prior liens or encumbrances thereon. The Company
also covenants and agrees to indemnify the Trustee for, and to hold it harmless against, any loss,
liability or expense incurred without negligence or bad faith on the part of the Trustee, arising
out of or in connection with the acceptance or administration of the trust or trusts hereunder,
including liability which the Trustee may incur as a result of failure to withhold, pay or report
taxes and including the costs and expenses of defending itself against any claim or liability in
the premises. The obligations of the Company under this Section shall constitute additional
indebtedness hereunder. Such additional indebtedness shall be secured by a lien prior to that of
the Securities upon all property and funds held or collected by the Trustee as such, except funds
held in trust for the benefit of the Holders of particular Securities.



     SECTION 7.06. Right of Trustee to Rely on Certificate of Certain Officers. Except as
otherwise provided in Section 315 of the Trust Indenture Act, whenever



59









 







in the administration of the provisions of this Indenture the Trustee shall deem it necessary or
desirable that a matter be proved or established prior to taking or suffering any action
hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed)
may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to be
conclusively proved and established by an Officers’ Certificate delivered to the Trustee and such
certificate, in the absence of negligence or bad faith on the part, of the Trustee, shall be full
warrant to the Trustee for any action taken, suffered or omitted by it under the provisions of this
Indenture upon the faith thereof.



     SECTION 7.07. Persons Eligible for Appointment As Trustee. The Trustee hereunder
shall at all times be a corporation which complies with the requirements of the Trust Indenture
Act, having a combined capital and surplus of at least $5,000,000. If such corporation publishes
reports of condition at least annually, pursuant to law or to the requirements of the aforesaid
supervising or examining authority, then for the purposes of this Section, the combined capital and
surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in
its most recent report of condition so published. In case at any time the Trustee shall cease to be
eligible in accordance with this Section, the Trustee shall resign immediately in the manner and
with the effect specified in Section 7.08.



     SECTION 7.08. Resignation and Removal of Trustee; Appointment of Successor. (a) The
Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to any
one or more or all series of Securities by giving written notice to the Company and by giving
notice of such resignation to the Holders of Securities in the manner provided in Section 1.04.
Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee
or trustees with respect to the applicable series by written instrument executed by order of the
Board of Directors, one copy of which instrument shall be delivered to the resigning trustee and
one copy to the successor trustee. If no successor trustee shall have been so appointed with
respect to a particular series and have accepted appointment within 30 days after the mailing of
such notice of resignation, the resigning trustee may petition any court of competent jurisdiction
for the appointment of a successor trustee, or any Holder who has been a bona fide Holder of a
Security or Securities of the applicable series for at least 6 months may, on behalf of himself and
all others similarly situated, petition any such court for the appointment of a successor trustee.
Such



60









 







court may thereupon after such notice, if any, as it may deem proper and prescribe,
appoint a successor trustee.



     (b) In case at any time any of the following shall occur:




     (1) the Trustee shall cease to be
eligible under Section 7.07 and shall fail to
resign after written request therefor by the
Company or by any such Holder, or




     (2) the Trustee shall become incapable
of acting, or shall be adjudged bankrupt or
insolvent, or a receiver of the Trustee or of its
property shall be appointed, or any public officer
shall take charge or control of the Trustee or of
its property or affairs for the purpose of
rehabilitation, conservation or liquidation;


then, in any such case, the Company may remove the Trustee with respect to the applicable series of
Securities, and appoint a successor trustee by written instrument, in duplicate, executed by order
of the Board of Directors of the Company, one copy of which instrument shall be delivered to the
trustee so removed and one copy to the successor trustee, or any Holder who has been a bona fide
Holder of a Security or Securities of any such series for at least 6 months may, on behalf of
himself and all others similarly situated; petition, any court of competent jurisdiction for the
removal of the Trustee and the appointment of a successor trustee with respect to such series.
Such court may thereupon after such notice, if any, as it may deem proper and prescribe, remove the
Trustee and appoint a successor trustee with respect to such series.




     (c) The Holders of a majority in aggregate
principal amount of the Securities of any series at the time outstanding may at any time remove the
Trustee with respect to that series and appoint with respect to such series a successor trustee by
delivering to the trustee so removed, to the successor trustee so appointed and to the Company, the
evidence provided for in Section 8.01 of the action taken by the Holders.



     (d) Any resignation or removal of the Trustee and
any appointment of a successor trustee pursuant to this
Section shall become effective only upon acceptance of
appointment by the successor trustee as provided in Section
7.09.



     SECTION
7.09. Acceptance of Appointment by Successor Trustee. Any successor trustee
appointed under




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Section 7.08 shall execute, acknowledge and deliver to the Company and to its predecessor
trustee with respect to any or all applicable series an instrument accepting such appointment
hereunder, and thereupon the resignation or removal of the predecessor trustee shall become
effective and such successor trustee, without any further act, deed or conveyance, shall become
vested with all the rights, powers, trusts, duties and obligations with respect to such series of
its predecessor hereunder, with like effect as if originally named as Trustee herein; but,
nevertheless, on the written request of the Company or of the successor trustee, the Trustee
ceasing to act shall, upon payment of any such amounts then due it pursuant to the provisions of
Section 7.05, execute and deliver an instrument transferring to such successor trustee all the
rights, powers and trusts with respect to such series of the Trustee so ceasing to act. Upon
request of any such successor trustee, the Company shall execute any and all instruments in writing
for more fully and certainly vesting in and confirming to such successor trustee all such rights
and powers. Any Trustee ceasing to act shall, nevertheless, retain a lien upon all property or
funds held or collected by such Trustee to secure any amounts then due it pursuant to Section 7.05.




     In the case of the appointment hereunder of a
successor trustee with respect to the Securities of one or more (but not all) series, the Company,
the predecessor trustee and each successor trustee with respect to the Securities of any applicable
series shall execute and deliver an indenture supplemental hereto which shall contain such
provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts
and duties of the predecessor trustee with respect to the Securities of any series as to which the
predecessor trustee is not retiring shall continue to be vested in the predecessor trustee, and
shall add to or change any of the provisions of this Indenture as shall be necessary to provide for
or facilitate the administration of the trusts hereunder by more than one trustee, it being
understood that nothing herein or in such supplemental indenture shall constitute such trustees
co-trustees of the same trust and that each such trustee shall be trustee of a trust or trusts
hereunder separate and apart from any trust or trusts hereunder administered by any other such
trustee.



     No successor trustee with respect to any series of Securities shall accept appointment as
provided in this Section unless at the time of such acceptance such successor
trustee shall with respect to such series be eligible under Section 7.07.



     Upon acceptance of appointment by a successor
trustee with respect to the Securities of any series, the




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Company shall give notice of the succession of such trustee hereunder to the Holders of Securities
in the manner provided in Section 1.04. If the Company fails to give such notice within 10
days after acceptance of appointment by the successor trustee, the successor trustee shall cause
such notice to be given at the expense of the Company.




     SECTION 7.10. Merger, Conversion or Consolidation of Trustee. Any corporation
into which the Trustee may be merged or converted or with which it may be consolidated, or any
corporation resulting from any merger, conversion or consolidation to which the Trustee shall
be a party, or any corporation succeeding to all or substantially all the corporate trust
business of the Trustee, shall be the successor of the Trustee hereunder without the execution
or filing of any paper or any further act on the part of any of the parties hereto, provided
that such successor trustee shall be eligible under the provisions of Section 7.07 hereof and
Section 310(a) of the Trust Indenture Act.



     SECTION 7.11. Judgment Currency. If for the purpose of obtaining a judgment in
any court with respect to any obligation of the Company hereunder or under any Security, it
shall become necessary to convert into any other currency or currency unit any amount in the
currency or currency unit due hereunder or under such Security, then such conversion shall be
made at the Conversion Rate (as defined below) as in effect on the date the Company shall make
payment to any person in satisfaction of such judgment. If pursuant to any such judgment,
conversion shall be made on a date other than the date payment is made and there shall occur a
change between such Conversion Rate and the Conversion Rate as in effect on the date of
payment, the Company agrees to pay such additional amounts, if any, as may be necessary to
ensure that the amount paid is the amount in such other currency or currency unit which, when
converted at the Conversion Rate as in effect on the date of payment or distribution, is the
amount then due hereunder or under such Security. Any amount due from the Company under this
Section 7.11 shall be due as a separate debt and is not to be affected by or merged into any
judgment being obtained for any other sums due hereunder or in respect of any Security so that
in any event the Company’s obligations hereunder or under such Security will be effectively
maintained as obligations in such currency or currency unit. In no event, however, shall the
Company be required to pay more in the currency or currency unit than the amount stated to be
due hereunder or under such Security.



     For purposes of this Section 7.11, “Conversion Rate” shall mean the spot rate at which in
accordance with normal banking procedures the currency or currency unit into which an amount
due hereunder or under such Security is to



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be converted could be purchased with the currency or currency unit due hereunder or under
such Security from major banks located in New York, London or any other principal market for
such purchased currency or currency unit.




     SECTION 7.12. Authenticating Agents. There may be an Authenticating Agent or
Authenticating Agents with respect to one or more series of Securities appointed by the Trustee
from time to time with power to act on its behalf and subject to its direction in connection with
the authentication and delivery of Securities of such series issued upon exchange, transfer or
redemption thereof as fully to all intents and purposes as though such Authenticating Agent had
been expressly authorized to authenticate and deliver Securities, and Securities so authenticated
shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all
purposes as though authenticated by the Trustee hereunder. For all purposes of this Indenture
(except in the case of original issuance of Securities and the issuance of Securities in
replacement of lost, stolen, mutilated or destroyed Securities), the authentication and delivery of
Securities by an Authenticating Agent appointed pursuant to the provisions of this Section shall be
deemed to be the authentication and delivery of such Securities “by the Trustee,” and whenever this
Indenture provides (except in the case of original issuance of the Securities and the issuance of
Securities in replacement of lost, stolen, mutilated or destroyed Securities) that “the Trustee
shall authenticate and deliver” Securities, such authentication and delivery by any Authenticating
Agent shall be deemed to be authentication and delivery by the Trustee. Any such Authenticating
Agent shall at all times be a corporation organized and doing business under the laws of the United
States of America or any State or the District of Columbia, with a combined capital and surplus of
at least S10,000,000 and authorized under such laws to act as an authenticating agent, duly
registered to act as such, if and to the extent required by applicable law and subject to
supervision or examination by Federal, State or District of Columbia authority. If such
corporation publishes reports of its condition at least annually, pursuant to law or the
requirements of such authority, then for the purposes of this Section 7.12 the combined capital and
surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in
its most recent report of condition so published. If at any time an Authenticating Agent shall
cease to be eligible to act as such in accordance with the provisions of this Section 7.12, it
shall resign immediately in the manner and with the effect herein specified in this Section 7.12.



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     Any corporation into which any Authenticating Agent may be merged or converted or with which
it may be consolidated, or any corporation resulting from any merger, conversion or consolidation
to which any Authenticating Agent shall be a party, or any corporation succeeding to the corporate
agency business of any Authenticating Agent, shall be the successor of the Authenticating Agent
hereunder, if such successor corporation is otherwise eligible to act as such in accordance with
the provisions of this Section 7.12, without the execution or filing of any paper or any further
act on the part of the Trustee or the Authenticating Agent or such successor corporation.



     Any Authenticating Agent may at any time resign by giving written notice of resignation to the
Trustee and to the Company. The Trustee may at any time terminate the agency of any Authenticating
Agent by giving written notice of termination to such Authenticating Agent and to the Company.
Upon receiving such a notice or resignation or upon a termination, or in case at any time any
Authenticating Agent shall cease to be eligible to act as such in accordance with the provisions of
this Section 7.12, the Trustee may appoint a successor authenticating agent. Upon the appointment,
at any time after the original issuance of any of the Securities, of any successor, additional or
new authenticating agent, the Trustee shall give written notice of such appointment to the Company
and shall at the expense of the Company give notice of such appointment to all Holders of
Securities of the series with respect to which such Authenticating Agent will serve in the manner
provided in Section 1.04. Any successor authenticating agent upon acceptance of its appointment
pursuant to the provisions of this Section shall become vested with all the rights, powers, duties
and obligations of its predecessor hereunder, with like effect as if initially named as an
Authenticating Agent herein. No successor authenticating agent shall be appointed unless eligible
to act as such in accordance with the provisions of this Section 7.12.



     Any Authenticating Agent by the acceptance of its appointment shall be deemed to have
represented to the
Trustee that it is eligible for appointment as Authenticating Agent under this Section and to have
agreed with the Trustee that: it will perform and carry out the duties of an Authenticating Agent
as herein set forth, including, among other things, the duties to authenticate and deliver
Securities when presented to it in connection with exchanges, registrations of transfer or
redemptions thereof; it will keep and maintain, and furnish to the Trustee from time to time as
requested by the Trustee, appropriate records of all transactions carried out by it as
Authenticating Agent and will furnish the Trustee such other



65









 




information and reports as the Trustee may reasonably require; and it will notify the Trustee
promptly if it shall cease to be eligible to act as Authenticating Agent in accordance with the
provisions of this Section 7.12. Any Authenticating Agent by the acceptance of its appointment
shall be deemed to have agreed with the Trustee to indemnify the Trustee against any loss,
liability or expense incurred by the Trustee and to defend any claim asserted against the Trustee
by reason of any acts or failures to act of such Authenticating Agent, but such Authenticating
Agent shall have no liability for any action taken by it in accordance with the specific written
direction of the Trustee.




     The Trustee agrees to pay to each Authenticating Agent from time to time reasonable
compensation and expenses for its services (to the extent such compensation is not paid by the
Company), and the Trustee shall be entitled to be reimbursed for such payments subject to the
provisions of Section 7.05.



     The provisions of Sections 7.02, 7.03 and 7.06 shall inure to the benefit of each
Authenticating Agent to the same extent that they inure to the benefit of the Trustee.



     If an appointment with respect to one or more series is made pursuant to this Section, the
Securities of such series may have endorsed thereon, in addition to the Trustee’s certificate of
authentication, an alternate certificate of authentication in substantially the following form:



     This is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture.



	 	 	 	 	 
	 	 	  
	 	 	                                                            As Trustee
	 
	 	 	 	 
	 

	 	By
	 	  
 As
Authenticating Agent
	 
	 	 	 	 
	 

	 	By
	 	  
                     Authorized
Signatory







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ARTICLE EIGHT




CONCERNING THE HOLDERS




     SECTION 8.01. Evidence of Action Taken by Holders. Whenever in this Indenture it is
provided that the Holders of a specified percentage or a majority in aggregate principal amount of
the Securities or of any series of Securities may take any action (including the making of any
demand or request, the giving of any notice, consent or waiver or the taking of any other action)
the fact that at the time of taking any such action the Holders of such specified percentage or
majority have joined therein may be evidenced (a) by any instrument or any number of instruments or
similar tenor executed by Holders in person or by agent or proxy appointed in writing, or (b) by
the record of the Holders of Securities voting in favor thereof at any meeting of Holders duly
called and held in accordance with the provisions of Article Nine, or (c) by a combination of such
instrument or instruments and any such record of such a meeting of Holders.



     SECTION 8.02. Proof of Execution of Instruments and of Holding of Securities.
Subject to the provisions of Sections 7.01, 9.05 and Section 315 of the Trust Indenture Act, proof
of the execution of any instrument by a Holder or his agent or proxy and proof of the holding by
any person of any of the Securities shall be sufficient if made in the following manner:



     The fact and date of the execution by any such person of any instrument may be proved by the
certificate of any notary public or other officer authorized to take acknowledgments of deeds to be
recorded in any State within the United States, that the person executing such instrument
acknowledged to him the execution thereof, or by an affidavit of a witness to such execution sworn
to before any such notary or other such officer. Where such execution is by an officer of a
corporation or association or a member of a partnership on behalf of such corporation, association
or partnership, such certificate or affidavit shall also constitute sufficient proof of his
authority. The fact and date of the execution of any such instrument may also be proved in any
other manner which the Trustee may deem sufficient.



     The ownership of Registered Securities may be proved by the Security Register or by a
certificate of the Security Registrar.



     The principal amount and serial numbers of Bearer Securities held by any Person, and the date
of holding the same, may be proved by the production of such Bearer



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Securities or by a certificate executed, as depositary, by any trust company, bank, banker or other
depositary, wherever situated, if such certificate shall be deemed by the Trustee to be
satisfactory, showing that at the date therein mentioned such Person had on deposit with such
depositary, or exhibited to it, the Bearer Securities in the amount and with the serial numbers
therein described; or such facts may be proved by the certificate or affidavit of the Person
holding such Bearer Securities, if such certificate or affidavit is deemed by the Trustee to be
satisfactory. The Trustee and the Company may assume that such ownership of any Bearer Security
continues until (1) another certificate or affidavit bearing a later date issued in respect of the
same Bearer Security is produced, or (2) such Bearer Security is produced to the Trustee by some
other Person, or (3) such Bearer Security is surrendered in exchange for a Registered Security, or
(4) such Bearer Security is no longer Outstanding.




     The fact and date of execution of any such instrument or writing, the authority of the Person
executing the same and the principal amount and serial numbers of Bearer Securities held by the
Person so executing such instrument or writing and the date of holding the same may also be proved
in any other manner which the Trustee deems sufficient; and the Trustee may in any instance require
further proof with respect to any of the matters referred to in this Section 8.02.



     If the Company shall solicit from the Holders of Securities of any series any request, demand,
authorization, direction, notice, consent, waiver or other act, the Company may, at its option, by
Board Resolution, fix in advance a record date for the determination of Holders of Registered
Securities entitled to give such request, demand, authorization, direction, notice, consent, waiver
or other act, but the Company shall have no obligation to do so. Any such record date shall be
fixed at the Company’s discretion. If such a record date is fixed, such request, demand,
authorization, direction, notice, consent and waiver or other act may be sought or given before or
after the record date, but only the Holders of Registered Securities of record at the close of
business on such record date shall be deemed to be the Holders of Registered Securities for the
purpose of determining whether Holders of the requisite proportion of Securities of such series
Outstanding have authorized or agreed or consented to such request, demand, authorization,
direction, notice, consent, waiver or other act, and for that purpose the Registered Securities of
such series Outstanding shall be computed as of such record date.



     Whenever any act is to be taken hereunder by the
Holders of two or more series of Securities denominated in




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different currencies or currency units, then, for the purpose of determining the principal amount
of Securities held by such Holders, the aggregate principal amount of the Securities denominated in
a Foreign Currency (or any currency units) shall be deemed to be that amount of Dollars that could
be obtained for such principal amount on the basis of the spot rate of exchange for such Foreign
Currency or such currency unit as determined by the Company or by an authorized Exchange Rate Agent
and evidenced to the Trustee by an Officers’ Certificate as of the date the taking of such act by
the Holders of the requisite percentage in principal amount of the Securities is evidenced to the
Trustee. An Exchange Rate Agent may be appointed in advance or from time to time by the Company.
Any such determination by the Company or by any such Exchange Rate Agent shall be conclusive and
binding on all Holders, the Company and the Trustee, and neither the Company nor any such Exchange
Rate Agent shall be liable therefor in the absence of bad faith.




     The Trustee may require such additional proof, if any, of any matter referred to in this
Section 8.02 as it shall deem necessary.



     The record of any Holders meeting shall be proved as provided in Section 9.06.



     SECTION 8.03. Securities Owned by Company Deemed Hot Outstanding. In determining
whether the Holders of the requisite aggregate principal amount of Securities have Concurred in any
request, demand, authorization, direction, notice, consent and waiver or other act under this
Indenture, Securities which are owned by the Company or any other obligor on the Securities or by
any person directly or indirectly controlling or controlled by or under direct or indirect common
control with the Company or any other obligor on the Securities shall be disregarded and deemed not
to be outstanding for the purpose of any such determination except that for the purposes of
determining whether the Trustee shall be protected in relying on any such direction, consent or
waiver, only Securities which the Trustee knows are so owned as conclusively evidenced by the
Security Register shall be so disregarded. The Company shall furnish the Trustee, upon its
reasonable request, with a list of such other obligors and persons so controlling, controlled by or
under common control with the Company or such other obligors. Securities so owned which have been
pledged in good faith may be regarded as outstanding for the purposes of this Section, if the
pledgee shall establish to the satisfaction of the Trustee that the pledgee has the right to vote
such Securities and that the pledgee is not a person directly or indirectly controlling or
controlled by or under direct or indirect common control with the Company or any such other
obligor. Subject to the provisions of



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Section 315 of the Trust Indenture Act, in case of a dispute as to such right, any decision by the
Trustee, taken upon the advice of counsel, shall be full protection to the
Trustee.




     SECTION 8.04. Right of Revocation of Action Taken. At any time prior to (but not
after) the evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by
the Holders of the percentage in aggregate principal amount of the Securities or of any series of
Securities specified in this Indenture in connection with such action, any Holder of a Security the
serial number of which is shown by the evidence to be included in the Securities the Holders of
which have consented to such action may, by filing written notice with the Trustee at its principal
office and upon proof of holding as provided in Section 8.02, revoke such action so far as concerns
such Security. Except as aforesaid, any such action taken by the Holder of any Security shall be
conclusive and binding upon such Holder and upon all future holders and owners of such Security,
and of any Security issued in exchange therefor or in place thereof, irrespective of whether or not
any notation in regard thereto is made upon such Security or any Security issued in exchange
therefor or in place thereof. Any action taken by the Holders of the percentage in aggregate
principal amount of the Securities specified in this Indenture in connection with such action shall
be conclusively binding upon the Company, the Trustee and the Holders of all the Securities.




70










 





ARTICLE NINE




HOLDERS’ MEETINGS




          SECTION 9.01. Purposes for Which Holders’
Meetings May Be Called A meeting of Holders may be called at any time
and from time to time pursuant to this Article Nine for any of the following purposes:




          (a) to give any notice to the Company or to the
Trustee, or to give any directions to the Trustee, or to
waive or to consent to the waiving of any default hereunder
and its consequences, or to take any other action authorized
to be taken by Holders pursuant to Article Six;




          (b) to remove the Trustee and appoint a successor
trustee pursuant to Article Seven;




          (c) to consent to the execution of an indenture
or indentures supplemental hereto pursuant to Section 10.02;
or




          (d) to take any other action authorized to be
taken by or on behalf of the Holders of any specified
aggregate principal amount of the Securities under any other
provision of this Indenture or under applicable law.




          SECTION
9.02. Call of Meetings by Trustee. The Trustee may at any time
call a meeting of Holders of any series to be held at such time and at such place in
the Borough of Manhattan, The City of New York, as the Trustee shall determine. Notice
of every meeting of Holders, setting forth the time and the place of such meeting and
in general terms the action proposed to be taken at such meeting, shall be given by the
Trustee, in the manner provided in Section 1.04, not less than 20 nor more than 180
days prior to the date fixed for the meeting, to the Holders of Securities of such
series.




          SECTION
9.03. Company and Holders May Call Meeting. In case the Company,
pursuant to a resolution of its Board of Directors, or the Holders of at least 10% in
aggregate principal amount of the Securities of any series then outstanding, shall have
requested the Trustee to call a meeting of Holders of such series, by written request
setting forth in general terms the action proposed to be taken at the meeting, and the
Trustee shall not have made the mailing of the notice of such meeting within 20 days
after receipt of such request, then the Company or the Holders of such Securities in
the amount above specified may determine the time and the place in the Borough of
Manhattan, The City of New York, for such meeting and may




71









 




call such meeting to take any action authorized in Section 9.01, by giving notice
thereof as provided in Section 9.02.




          SECTION 9.04. Persons Entitled to Vote at
Meeting. To be entitled to vote at any meeting of Holders a person shall be (a)
Holder of one or more Securities with respect to which such meeting is being held or (b)
a person appointed by an instrument in writing as proxy for the Holder or Holders of such
Securities by a Holder of one or more such Securities. The only persons who shall be
entitled to be present or to speak at any meeting of Holders shall be the persons
entitled to vote at such meeting and their counsel and any representatives of the Trustee
and its counsel and any representatives of the Company and its counsel.




          SECTION 9.05. Determination of Voting Rights; Conduct and Adjournment of
Meeting. Notwithstanding any other provisions of this Indenture, the Trustee may
make such reasonable regulations as it may deem advisable for any meeting of Holders, in
regard to proof of the holding of Securities and of the appointment of proxies, and in
regard to the appointment and duties of inspectors of votes, the submission and
examination of proxies, certificates and other evidence of the right to vote, and such
other matters concerning the conduct of the meeting as it shall think fit. Such
regulations may provide that written instruments appointing proxies, regular on their
face, may be presumed valid and genuine without the proof specified in Section 8.02 or
other proof. Except as otherwise permitted or required by any such regulations, the
holding of Securities shall be proved in the manner specified in Section 8.02 and the
appointment of any proxy shall be proved in the manner specified in said Section 8.02 or
by having the signature of the person executing the proxy witnessed or guaranteed by any
bank, banker, trust company or firm satisfactory to the Trustee.




          The Trustee shall, by an instrument in writing, appoint a temporary chairman of the
meeting, unless the meeting shall have been called by the Company or by Holders as
provided in Section 9.03, in which case the Company or the Holders calling the meeting,
as the case may be, shall in like manner appoint a temporary chairman. A permanent
chairman and a permanent secretary of the meeting shall be elected by vote of the Holders
of a majority in principal amount of the Securities represented at the meeting and
entitled to vote.




          Subject to the provisions of Section 8.03, at any meeting each Holder of a series or
proxy shall be entitled to one vote for each $1 principal amount, or the equivalent
thereof in any currency or currency unit in which such




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Securities are denominated (in the case of Original Issue Discount Securities, such
principal amount to be determined as provided -in-the definition of Outstanding) of
Securities of such series held or represented by him;
provided, however, that no
vote shall be cast or counted at any meeting in respect of any Security challenged as not
Outstanding and ruled by the chairman of the meeting to be not Outstanding. The chairman
of the meeting shall have no right to vote other than by virtue of Securities of such
series held by him or instruments in writing as aforesaid duly designating him as the
person to vote on behalf of other Holders of such series. Any meeting of Holders duly
called pursuant to Section 9.02 or 9.03 may be adjourned from time to time, and the
meeting may be held as so adjourned without further notice.




          At any meeting, the presence of persons holding or representing Securities with
respect to which such meeting is being held in an aggregate principal amount
sufficient to take action upon the business for the transaction of which such meeting was
called shall be necessary to constitute a quorum; but, if less than a quorum be present,
the persons holding or representing a majority of the Securities represented at the
meeting may adjourn such meeting with the same effect, for all intents and purposes, as
though a quorum had been present.




          SECTION
9.06. Counting Votes and Recording Action of Meeting. The vote
upon any resolution submitted to any meeting of Holders of a series shall be by written
ballots on which shall be subscribed the signatures of the Holders of Securities of such
series or of their representatives by proxy and the serial numbers and principal amounts
of the Securities of such series held or represented by them. The permanent chairman of
the meeting shall appoint two inspectors of votes who shall count all votes cast at the
meeting for or against any resolution and who shall make and file with the secretary of
the meeting their verified written reports in duplicate of all votes cast at the meeting.
A record in duplicate of the proceedings of each meeting of Holders shall be prepared by
the secretary of the meeting and there shall be attached to said record the original
reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by
one or more persons having knowledge of the facts setting forth a copy of the notice of
the meeting and showing that said notice was given as provided in Section 9.02. The
record shall show the serial numbers of the Securities voting in favor of or against any
resolution. The record shall be signed and verified by the affidavits of the permanent
chairman and secretary of the meeting and one of the duplicates shall
be delivered to the
Company and the other to the Trustee to be





73









 







preserved by the Trustee, the latter to have attached thereto the ballots voted at the
meeting.




          Any record so signed and verified shall be conclusive evidence of the matters therein stated.




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ARTICLE TEN




SUPPLEMENTAL INDENTURES




          SECTION
10.01. Supplemental Indentures Without Consent of Holders.
The Company, when authorized by a Board Resolution, and the Trustee may from time to
time and at any time enter into an indenture or indentures supplemental hereto (which
shall conform to the provisions of the Trust Indenture Act as it shall be in force at
the date of execution of such indenture or indentures) for one or more of the
following purposes:




          (a) to convey, transfer, assign, mortgage or
pledge to the Trustee as security for the Securities any
property or assets which the company may desire;




          (b) to evidence the succession of another
corporation to the Company, or successive successions, and
the assumption by the successor corporation of the
covenants, agreements and obligations of the Company
pursuant to Article Eleven;




          (c) to add to the covenants and agreements of the
Company such further covenants, agreements, restrictions or
conditions for the protection of the Holders of the
Securities of all or any series as its Board of Directors
and the Trustee shall consider to be for the protection of
the Holders of Securities of such series (and if such
covenants, agreements, restrictions or conditions are to be
for the benefit of less than all series of Securities,
specifying the series to which such covenants, agreements,
restrictions or conditions are applicable), and to make the
occurrence, or the occurrence and continuance, of a default
in any such additional covenants, agreements, restrictions
or conditions a default or an Event of Default permitting
the enforcement of all or any of the several remedies
provided in this Indenture as herein set forth; provided,
however, that in respect of any such additional covenant,
agreement, restriction or condition such supplemental
indenture may provide for a particular period of grace after
default (which period may be shorter or longer than that
allowed in the case of other defaults) or may provide for an
immediate enforcement upon such default or may limit the
remedies available to the Trustee upon such default or may
limit the right of the Holders of a majority in aggregate
principal amount of the Securities of a particular series to
waive such default;




          (d) to add, delete or modify any Events of
Default with respect to all or any series of the Securities, the form and terms of
which are being established pursuant to such supplemental indenture as permitted in
Section 2.01,




75









 




3.01 and 3.03 (and, if any such Event of Default is applicable to fewer than all
such series of the Securities, specifying the series to which such Event of Default is
applicable), and to specify the rights and remedies of the Trustee and the Holders of
such Securities in connection therewith;




          (e) to prohibit the authentication and delivery
of additional series of Securities, to cure any ambiguity or
to correct or supplement any provision contained herein or
in any supplemental indenture which may be defective or
inconsistent with any other provisions contained herein or
in any supplemental indenture, or to make such other
provisions in regard to matters or questions arising under
this Indenture as shall not be inconsistent with the
provisions of this Indenture or any supplemental indenture
and shall not adversely affect the interests of the holders
of the Securities;




          (f) to establish the form and terms of the
Securities of any series as permitted in Sections 2.01, 3.01 and 3.03, or to authorize
the issuance of additional Securities of a series previously authorized or to add to the
conditions, limitations or restrictions on the authorized amount, terms or purposes of
issue, authentication or delivery of the Securities of any series, as herein set forth,
or other conditions, limitations or restrictions thereafter to be observed; and




          (g) to evidence and provide for the acceptance of
appointment hereunder by a successor trustee with respect to
the Securities of one or more series or to add to or change
any of the provisions of this Indenture as shall be
necessary to provide for or facilitate the administration of
the trusts hereunder by more than one trustee, pursuant to
the requirements of Section 7.09.



          The Trustee is hereby authorized to join with the Company in the execution of any
such supplemental indenture, to make any further appropriate agreements and stipulations
which may be therein contained and to accept the conveyance, transfer, assignment,
mortgage, or pledge of any property thereunder, but the Trustee shall not be obligated to
enter into any such supplemental indenture which affects the Trustee’s own rights, duties
or immunities under this Indenture or otherwise. In addition, the Trustee shall not be
obligated to enter into any supplemental indenture which provides for the issuance of
Securities of any series denominated in a Foreign Currency or currency unit, if the
Trustee determines in its reasonable discretion that it would not be able to properly
fulfill its obligations




76









 




hereunder and thereunder in respect of such Securities or to do so would be unduly
burdensome to the Trustee.




          Any supplemental indenture authorized by the provisions of this Section shall be
executed by the Company and the Trustee and shall not require the consent of the Holders
of any of the Securities at the time outstanding, notwithstanding Section 10.02.




          SECTION 10.02. Supplemental Indentures With Consent of Holders. With the
consent (evidenced as provided in Section 8.01) of the Holders of not less than a
majority of the aggregate principal amount of the Securities of any series at the time
outstanding, the Company, when authorized by a resolution of its Board of Directors, and
the Trustee may from time to time and at any time enter into an indenture or indentures
supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as
it shall be in force at the date of execution of such supplemental indenture or
indentures) for the purpose, with respect to Securities of such series, of adding any
provisions to or changing in any manner or eliminating any of the provisions of this
Indenture or of any supplemental indenture with respect to Securities of such series or
of modifying in any manner the rights of the Holders of the Securities of such series;
provided, however, that no such supplemental indenture shall (i) extend the fixed
maturity, or the earlier optional date of maturity, if any, of any Security, or reduce
the principal amount thereof or the premium thereon, if any, or reduce the rate or extend
the time of payment of interest, if any, thereon or make the principal thereof or
premium, if any, or interest, if any, thereon payable in any currency other than as
provided pursuant to this Indenture or such Security, without the consent of the Holder
of each Security so affected, or (ii) reduce the aforesaid percentage of Securities of
any series, the Holders of which are required to consent to any such supplemental
indenture, without the consent of the Holders of all Securities of such series then
outstanding.




          Upon the request of the Company, accompanied by a copy of a Board Resolution
authorizing the execution of any such supplemental indenture, and upon the filing with
the Trustee of evidence of the consent of the Holders as aforesaid, the Trustee shall
join with the Company in the execution of such supplemental indenture unless such
supplemental indenture affects the Trustee’s own rights, duties or immunities under this
Indenture or otherwise, in which case the Trustee may in its discretion but shall not be
obligated to enter into such supplemental indenture.




          A supplemental indenture which changes or eliminates any provision of this Indenture
or of any series




77









 




of Securities which has expressly been included solely for the benefit of one or more
particular series of Securities, or which modifies the rights of Holders of Securities of
such series with respect to such provisions, shall be deemed not to affect the rights
under this Indenture of the Holders of Securities of any other series.




          It shall not be necessary for the consent of the Holders under this Section to
approve the particular form of any proposed supplemental indenture, but it shall be
sufficient if such consent shall approve the substance thereof.




          Promptly after the execution by the Company and the Trustee of any supplemental
indenture under this Section, the Company shall give notice, setting forth in general
terms the substance of such supplemental indenture, to the Holders of Securities in the
manner provided in Section 1.04. Any failure of the Company to give such notice, or any
defect therein, shall not, however, in any way impair or affect the validity of any such
supplemental indenture.




          SECTION 10.03. Effect of Supplemental Indentures. Upon the execution of any
supplemental indenture pursuant to the provisions of this Article, this Indenture shall
be and be deemed to be modified and amended in accordance therewith and the respective
rights, limitation of rights, obligations, duties and immunities under this Indenture of
the Trustee, the Company and the Holders of Securities shall thereafter be determined,
exercised and enforced hereunder subject in all respects to such modifications and
amendments, and all the terms and conditions of any such supplemental indenture shall be
and be deemed to be part of the terms and conditions of this Indenture for any and all
purposes.




          SECTION 10.04. Notation on Securities in Respect of Supplemental
Indentures. Securities authenticated and delivered after the execution of any
supplemental indenture pursuant to the provisions of this Article or after any action
taken at a Holders meeting pursuant to the provisions of Article Nine may, and if
required by the Trustee shall, bear a notation in form approved by the Trustee as to any
matter provided for in such supplemental indenture or as to any such action. If the
Company and the Trustee shall so determine, new Securities of any series so modified as
to conform, in the opinion of the Company and the Trustee, to any modification of this
Indenture contained in any such supplemental indenture may be prepared by the Company,
authenticated by the Trustee and delivered in exchange for the Securities of such series
then outstanding.




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          SECTION
10.05. Opinion of Counsel to Be Given Trustee. The Trustee,
subject to Sections 7.01 and Section 315 of the Trust Indenture Act, may receive an
Opinion of Counsel as conclusive evidence that any such supplemental indenture is
authorized by the terms of this Indenture and that it is proper for the Trustee under
the provisions of this Article to join in the execution thereof.




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ARTICLE ELEVEN




CONSOLIDATION, MERGER AND SALE




          SECTION 11.01. Company May Consolidate or Merge etc. Subject to the
provisions of Section 11.02, nothing contained in this Indenture shall prevent any
consolidation of the Company with or the merger of the Company into any other
corporation, or any merger of any other corporation into the Company or successive
consolidations or mergers to which the Company or its successor or successors shall be
a party or parties, or shall prevent any sale, transfer or lease of the properties and
assets of the Company as an entirety or substantially as an entirety to any other
corporation lawfully entitled to acquire the same.




          SECTION
11.02. Conditions to Consolidation or Merger, etc. The Company
shall not consolidate with or merge into any other corporation or sell, transfer or
lease its properties and assets as an entirety or substantially as an entirety unless,
in case the Company shall consolidate with or merge into another corporation or sell,
transfer or lease its properties and assets substantially as an entirety to any Person,
the corporation formed by such consolidation or into which the Company is merged or the
Person which acquires by sale or transfer, or which leases, the properties and assets
of the Company substantially as an entirety shall be a corporation organized and
existing under the laws of the United States, any State thereof or the District of
Columbia and shall expressly assume, by an indenture supplemental hereto, executed and
delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual
payment of the principal of (and premium, if any) and interest on all the Securities
and the performance of every covenant of this Indenture on the part of the Company to
be performed or observed.




          Every such successor corporation, upon executing such indenture supplemental
hereto, in form satisfactory to the Trustee, shall succeed to and be substituted for
the Company with the same effect as if it had been an original party hereto, thus
relieving the Company of all liabilities hereunder, and such successor corporation
shall possess and from time to time may exercise each and every power hereunder of the
Company, and may execute and deliver Securities hereunder, either in the name of the
Company or of such successor corporation, and any act or proceeding required by this
Indenture to be done or performed by any board or officer of the Company may be done or
performed with like force and effect by the like board or officer of such successor
corporation.





80









 








          SECTION
11.03. Documents and Opinion to Be
Furnished to the Trustee. The Company covenants and agrees that if it shall
consolidate with or merge into any other corporation or if it shall sell, transfer or
lease its properties and assets, as an entirety or substantially as an entirety, the
Company will promptly furnish to the Trustee:




(1) An Officers’ Certificate stating
that the covenants of the Company contained in
Section 11.02 have been complied with;




(2) An executed counterpart of any
instrument or instruments executed by the Company
or the successor corporation in the performance of
such covenants; and




(3) An Opinion of Counsel stating that
in the opinion of such counsel such covenants have
been complied with and that any instrument or
instruments executed by the Company or the
successor corporation in the performance of such
covenants comply with the requirements of such
covenants.




          Each certificate, instrument and opinion furnished to the Trustee pursuant to
the provisions of this Section shall conform to the requirements of Section 314 of
the Trust Indenture Act.




          Subject to the provisions of Sections 7.01 and Section 315 of the Trust
Indenture Act, the Trustee may receive an Opinion of Counsel conforming to the
requirements of Section 314 of the Trust Indenture Act as conclusive evidence that
any such consolidation, merger, sale, transfer or lease, any such steps taken to
secure the Securities, any such assumption and any such supplemental indenture or
other instrument or instruments comply with the provisions of this Article.





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ARTICLE TWELVE




SATISFACTION AND DISCHARGE OF INDENTURE; DEFEASANCE; UNCLAIMED

MONEYS




     SECTION
12.01. Satisfaction and Discharge of
Indenture. If (a) the Company shall deliver to the Trustee for cancellation all
Outstanding Securities, or (b) all Outstanding Securities not delivered to the Trustee for
cancellation shall have become due and payable, or are by their terms to become due and payable
within one year or are to be called for redemption within one year under arrangements satisfactory
to the Trustee for the giving of notice of redemption and the Company shall deposit with the
Trustee as trust funds the entire amount sufficient to pay at maturity or upon redemption all such
Securities not delivered to the Trustee for cancellation, including the principal of, premium, if
any, and interest, if any, due or to become due to such date of maturity or redemption, and if in
either case the Company shall also pay or cause to be paid all other sums payable hereunder by the
Company, then this Indenture shall cease to be of further effect, and the Trustee, on demand of the
Company and at the cost and expense of the Company, shall execute proper instruments acknowledging
satisfaction of and discharging this Indenture. The Company agrees to reimburse the Trustee for
any costs or expenses, including reasonable attorneys’ fees, thereafter reasonably and properly
incurred by the Trustee without negligence or bad faith in connection with this Indenture or the
Securities.



     SECTION 12.02. Satisfaction, Discharge and Defeasance of Securities of Any Series.
If this Section is specified, as contemplated by Section 3.01, to be applicable to Securities of
the series, at the Company’s option, either




     (a) the Company will be deemed to have been
Discharged from its obligations with respect to
Securities of such series; or




     (b) the Company will cease to be under any
obligation to comply with any term, provision or
condition set forth in Sections 5.09 and 5.10;
provided, however, that no such instrument may specify
that the Company may cease to comply with any
obligations as to which it may not be Discharged
pursuant to the definition of “Discharged”;


in each case (a) and (b) with respect to the Securities of such series,the Company will be
discharged or will cease to be under any obligation to comply, as the case may be, on the 91st day
after the applicable conditions set forth below in (p) and either (q) or (r) have been satisfied:




82










 








     (p)(1) the Company has paid or caused to be paid all other sums payable with respect to
the Outstanding Securities of such series (in addition to any required under (q) or (r)); and



     (2) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent herein provided for relating to the
satisfaction and discharge of the entire indebtedness on all Outstanding Securities of any such
series have been complied with;



     (q) (1) the Company shall have deposited or caused to be deposited irrevocably with the
Trustee as a trust fund specifically pledged as security for, and dedicated solely to, the benefit
of the Holders of the Securities of such series (i) money in an amount (in such currency,
currencies or currency unit or units in which any Outstanding Securities of such series are
payable) or (ii) in the case of Securities denominated in Dollars, U.S. Government Obligations or,
in the case of Securities denominated in a Foreign Currency, Foreign Government Securities, which
through the payment of interest and principal in respect thereof in accordance with their terms
will provide, not later than one day before the due date of any payment of principal (including
any premium) and interest, if any, under the Securities of such series, money in an amount or
(iii) a combination of (i) and (ii), sufficient (in the opinion with respect to (ii) and (iii) of
a nationally recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee) to pay and discharge
each installment of principal
of (including any premium), and interest, if any, on, the Outstanding Securities of such series on
the dates such installments of interest or principal are due, in the currency, currencies or
currency unit or units, in which such Securities are payable;
provided, however, that the
Company shall not make or cause to be made the deposit provided by this clause (1) unless the
Company shall have delivered to the Trustee an Opinion of Counsel to the effect that there will
not occur any violation of the Investment Company Act of 1940, as amended, on the part of the
Company, the trust funds representing such deposit or the Trustee as a result of such deposit and
the related exercise of the Company’s option under this Section 12.02;





83









 






     (2)(i) no Event of Default or event (including such deposit) which
with notice or lapse of time would become an Event of Default shall have occurred
and be continuing on the date of such deposit, (ii) no Event of Default as defined
in clause (e) or (f) of Section 6.01, or event which with notice or lapse of time
or both would become an Event of Default under either such clause, shall have
occurred within 90 days after the date of such deposit and (iii) such deposit and
the related intended consequence under (a) or (b) will not result in any default or
event of default under any material indenture, agreement or other instrument
binding upon the Company or any of its properties; and




     (3) the Company shall have delivered to the Trustee an Opinion of Counsel to
the effect that Holders of the Securities of such series will not recognize income,
gain or loss for Federal income tax purposes as a result of the Company’s exercise
of its option under this Section 12.02 and will be subject to Federal income tax in
the same amount, in the same manner and at the same times as would have been the
case if such option had not been exercised;




     (r) the Company has properly fulfilled such other means of satisfaction and
discharge as is specified, as contemplated by Section 3.01, to be applicable to
the Securities of such series.




     Any deposits with the Trustee referred to in clause (q)(1) above will be made under
the terms of an escrow trust agreement in form and substance
satisfactory to the Trustee.
If any Outstanding Securities of such series are to be redeemed prior to their Stated
Maturity, whether pursuant to any mandatory redemption provisions or in accordance with any
mandatory sinking fund requirement, the applicable escrow trust agreement will provide
therefor and the Company will make arrangements for the giving of notice of redemption by
the Trustee in the name, and at the expense, of the Company.



     SECTION 12.03. Application by Trustee of Funds Deposited for Payment of Securities.
All money deposited with the Trustee pursuant to Sections 12.01 and 12.02, or received by the
Trustee in respect of obligations deposited with the Trustee pursuant to Section 12.02 shall be
held in trust until such time as such money is to be applied by it to the payment, either directly
or through any Paying Agent (including the Company acting as its own Paying Agent), to





84









 




the Holders of the particular Securities, for the payment of which such moneys have been
deposited with the Trustee, of all sums due and to become due thereon for the principal thereof,
premium, if any, and interest, if any, thereon. Moneys held under this Section need not be
segregated from other funds except to the extent required by law and the Trustee shall be under no
liability with respect to interest on any such moneys.




     SECTION
12.04. Repayment of Moneys Held by Paying Agent. In connection with the
satisfaction and discharge of this Indenture all moneys then held by any Paying Agent, other than
the Trustee, under this Indenture shall, upon and in accordance with demand of the Company, be paid
to the Trustee and thereupon such paying agent shall be released from all further liability with
respect to such moneys.



     SECTION 12.05. Return of Unclaimed Moneys. Any moneys deposited with the Trustee or
any Paying Agent not applied but remaining unclaimed by the Holders of Securities for two years
after the date upon which the principal of, premium, if any, or interest, if any, on such
Securities shall have become due and payable shall be repaid to the Company by the Trustee or such
agent on written demand; and the Holder of any of the Securities entitled to receive such payment
shall thereafter look only to the Company for the payment thereof and all liability of the Trustee
or any Paying Agent with respect to such moneys shall thereupon
cease; provided, however,
that the Trustee or such agent, before being required to make any such repayment, may at the
expense of the Company cause to be published once a week for two consecutive weeks (in each case on
any day of the week) in an Authorized Newspaper in the Borough of Manhattan, City of New York, and
once in an authorized newspaper in London, notice that said moneys have not been so applied and
that after a date named therein, which shall not be less than 30 days from the date of such mailing
or publication, any unclaimed balance of said moneys then remaining will be returned to the
Company.



85










 








ARTICLE THIRTEEN




IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS




     SECTION 13.01. Personal Immunity from Liability of Incorporators, Stockholders,
etc. No recourse under or upon any obligation, covenant or agreement of this Indenture or any
indenture supplemental hereto, or of any Security, or for any claim based thereon or otherwise in
respect thereof, shall be had against any incorporator or against any past, present or future
stockholder, officer or director, as such, of the Company or of any successor corporation, either
directly or through the Company or any successor corporation, whether by virtue of any
constitution, statute or rule of law, or by the enforcement of any assessment or penalty or
otherwise, all such liability and any and all such claims being hereby expressly waived and
released as a condition of, and as a consideration for, the execution of this Indenture and issue
of the Securities.



86









 





EXHIBIT A




[Form of Beneficial Ownership Certificate to be

Given by Person Entitled to Receive Bearer

Security Certificate]




CERTIFICATE OF BENEFICIAL OWNERSHIP





	 	 	 	To:	 [Name and Address of Issuer or its Agent,
i.e., the
Fiscal Agent]
	 
	 	 	 	 	 Re: [Insert sufficient description of Security, (the
“Security”) such as CUSIP Number, Issue Date,Maturity Date, Interest Payment Dates, Currency
for Payments, and Interest or Interest Rate Formula.] 






                This is to certify that the above-referenced Security is not beneficially owned by, and is not
being acquired by or on behalf of, any United States Person other than a Foreign Branch of a U.S.
Financial Institution (whether or not such Foreign Branch of a U.S. Financial Institution owns or
is acquiring the Security on behalf of another person, including a United States Person), or for
offer to resell or for resale to such person or to any person who is in the United States other
than an International Organization or Foreign Central Bank if the offer is made directly and
specifically to the United States office of such International Organization or Foreign Central
Bank. If this certificate is being provided by a Clearing Organization, it is based on statements
provided to it by its member organizations. Such statements must be received no earlier than 10
days before the earlier of the first interest payment date and delivery of the Security and no
later than the earlier of the first interest payment date and the date of delivery of such
Security.



                We undertake to advise you by telex if, as to any or all of the above-referenced securities in bearer form, the above statement as to
beneficial ownership is not correct on the date of delivery of such Securities.



DEFINITIONS




                For purposes of this certificate:



                “Code” means the United States Internal Revenue code of 1986, as amended from time to time, or
any successor thereto.



A-1









 





     “Foreign Branch of a United States Financial Institution” means a permanent office (engaged in the active conduct of a trade or business)
located outside the United States of a corporation, partnership or other entity created or
organized in or under the laws of the United States or any political subdivision thereof that:




	 	(a)	 	is a financial institution as defined in Section 1.165-12(c)(1)(v) of the Treasury
regulations, at an address outside the United States, and
	 
	 	(b)	 	provides a written statement or blanket certification to the person from whom (or
through whom) it purchases the Security that it will comply with
subparagraph (A), (B), or (C) of Section 165(j)(3) of the Code and the rules and regulations thereunder (which
provisions generally require that it comply with certain requirements concerning holding
and selling the Securities outside the United States and reporting to the United States tax
authorities certain information with respect to the Securities).




The statement referred to in clause (b) above must be supplied to the person from or through whom
the Security is purchased by the earlier of the first interest payment date or the end of the
calendar year of issuance of the Security; the blanket certification referred to in clause (b)
above must be received in the calendar year of issuance of the Security or in either of the two
preceding calendar years.




     “Foreign
Central Bank” means an entity defined in Section 895 of the Code and the rules and
regulations thereunder.

     “International Organization” means an entity defined in Section 7701(a)(18)
of the Code and the rules and regulations thereunder.

     “United States” means the United States of America (including the States and the District of
Columbia), its territories and possessions, the Commonwealth of Puerto Rico and other areas
subject to its jurisdiction.

     “United States Person” means any citizen or resident of the United States, any corporation,
partnership or other entity created or organized in or under the laws of the United States or any
political subdivision thereof and any estate or trust the income of which is subject to United
States federal income taxation regardless of its source.




A-2









 






DISCLOSURE TO ISSUER AND TAX AUTHORITIES




     We understand that this certificate is required in connection with certain tax legislation in
the United States. If administrative or legal proceedings are commenced or threatened in
connection with which this certificate is or would be relevant, or if the United States Internal
Revenue Service requests this certificate, we irrevocably authorize you to produce this certificate
or a copy thereof to any interested party in such proceedings.



     To the best of my (our) knowledge and belief, the above information is true, correct, and
complete.



Dated:                      , 19       *


**



                                        




 



*
   Earlier of the date of the first actual payment of interest or the date of delivery of
the bearer security.



**
The certificate must be signed by either (i) the owner of the Security to which the
certificate relates or (ii) the financial institution or clearing organization through which the
owner holds the Security to which the certificate relates, directly or indirectly.





A-3