exv4w3






EXHIBIT 4.3




 





AMERICAN COMMERCIAL LINES INC.

ISSUER




AND




THE BANK OF NEW YORK TRUST COMPANY, N.A.

TRUSTEE




 






INDENTURE




DATED
AS OF JUNE __, 2008




 






SUBORDINATED DEBT SECURITIES




      




 









 





CROSS-REFERENCE TABLE1




	 	 	 
	Section of Trust Indenture Act of 1939, as Amended	 	Indenture
	310(a)

	 	 7.10
	310(b)

	 	 7.09; 7.11
	310(c)

	 	 Inapplicable
	311(a)

	 	 7.14
	311(b)

	 	 7.14
	311(c)

	 	 Inapplicable
	312(a)

	 	 5.02(a)
	312(b)

	 	 5.02(c)
	312(c)

	 	 Inapplicable
	313(a)

	 	 5.04(a)
	313(b)

	 	 5.04(b)
	313(c)

	 	 5.04(a); 5.04(b)
	313(d)

	 	 5.04(c)
	314(a)

	 	 5.03; 4.06
	314(b)

	 	 Inapplicable
	314(c)

	 	 13.07
	314(d)

	 	 Inapplicable
	314(e)

	 	 13.07
	314(f)

	 	 Inapplicable
	315(a)

	 	 7.01(a); 7.03
	315(b)

	 	 7.02
	315(c)

	 	 7.01
	315(d)

	 	 7.01(b)
	315(e)

	 	 6.07; 7.07
	316(a)

	 	 6.06; 8.04
	316(b)

	 	 6.04
	316(c)

	 	 8.01
	317(a)

	 	 6.02
	317(b)

	 	 4.03
	318(a)

	 	 13.09








 




			
	1	 	This Cross-Reference Table does not constitute part of
the Indenture and shall not have any bearing on the interpretation of any of
its terms or provisions.




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TABLE OF CONTENTS2




	 	 	 	 	 
	 	 	Page
	RECITALS OF THE COMPANY
	 	 	2  	 
	ARTICLE I DEFINITIONS
	 	 	2  	 
	SECTION 1.01 DEFINITIONS OF TERMS
	 	 	2  	 
	ARTICLE II ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND
	 	 	 	 
	EXCHANGE OF SECURITIES
	 	 	6  	 
	SECTION 2.01 DESIGNATION AND TERMS OF SECURITIES
	 	 	6  	 
	SECTION 2.02 FORM OF SECURITIES AND TRUSTEE’S CERTIFICATE
	 	 	8  	 
	SECTION 2.03 DENOMINATIONS: PROVISIONS FOR PAYMENT
	 	 	8  	 
	SECTION 2.04 EXECUTION AND AUTHENTICATION
	 	 	9  	 
	SECTION
2.05 REGISTRATION OF TRANSFER AND EXCHANGE
	 	 	10	 
	SECTION 2.06 TEMPORARY SECURITIES
	 	 	10	 
	SECTION 2.07 MUTILATED, DESTROYED, LOST OR STOLEN SECURITIES
	 	 	11	 
	SECTION 2.08 CANCELLATION
	 	 	11	 
	SECTION 2.09 BENEFITS OF INDENTURE
	 	 	11	 
	SECTION 2.10 AUTHENTICATING AGENT
	 	 	12	 
	SECTION 2.11 GLOBAL SECURITIES
	 	 	12	 
	ARTICLE III REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS
	 	 	14	 
	SECTION 3.01 REDEMPTION
	 	 	14	 
	SECTION 3.02 NOTICE OF REDEMPTION
	 	 	14	 
	SECTION 3.03 PAYMENT UPON REDEMPTION
	 	 	15	 
	SECTION 3.04 SINKING FUND
	 	 	15	 
	SECTION 3.05 SATISFACTION OF SINKING FUND PAYMENTS WITH SECURITIES
	 	 	15	 
	SECTION 3.06 REDEMPTION OF SECURITIES FOR SINKING FUND
	 	 	16	 
	ARTICLE IV COVENANTS
	 	 	16	 
	SECTION 4.01 PAYMENT OF PRINCIPAL, PREMIUM AND INTEREST
	 	 	16	 
	SECTION 4.02 MAINTENANCE OF OFFICE OR AGENCY
	 	 	16	 
	SECTION 4.03 PAYING AGENTS
	 	 	16	 
	SECTION 4.04 APPOINTMENT TO FILL VACANCY IN OFFICE OF TRUSTEE
	 	 	17	 
	SECTION 4.05 COMPLIANCE WITH CONSOLIDATION PROVISIONS
	 	 	17	 
	SECTION 4.06 STATEMENT BY OFFICERS AS TO DEFAULT
	 	 	18	 
	ARTICLE V SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE
TRUSTEE
	 	 	18	 
	SECTION 5.01 COMPANY TO FURNISH TRUSTEE NAMES AND ADDRESSES OF
SECURITYHOLDERS
	 	 	18	 
	SECTION 5.02 PRESERVATION OF INFORMATION; COMMUNICATIONS WITH
SECURITYHOLDERS
	 	 	18	 
	SECTION 5.03 REPORTS BY THE COMPANY
	 	 	18	 
	SECTION 5.04 REPORTS BY THE TRUSTEE
	 	 	19	 
	ARTICLE VI REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF
DEFAULT
	 	 	19	 
	SECTION 6.01 EVENTS OF DEFAULT
	 	 	19	 
	SECTION 6.02 COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT
BY TRUSTEE
	 	 	21	 
	SECTION 6.03 APPLICATION OF MONEYS COLLECTED
	 	 	22	 
	SECTION 6.04 LIMITATION ON SUITS
	 	 	22	 
	SECTION 6.05 RIGHTS AND REMEDIES CUMULATIVE; DELAY OR OMISSION
NOT WAIVER
	 	 	23	 
	SECTION 6.06 CONTROL BY SECURITYHOLDERS
	 	 	23	 
	SECTION 6.07 UNDERTAKING TO PAY COSTS
	 	 	24	 








 




			
	2	 	Note: This Table of Contents shall not, for any purpose, be deemed to be part of the Indenture.




- ii - 









 










	 	 	 	 	 
	 	 	Page
	ARTICLE VII CONCERNING THE TRUSTEE
	 	 	24	 
	SECTION 7.01 CERTAIN DUTIES AND RESPONSIBILITIES OF TRUSTEE
	 	 	24	 
	SECTION 7.02 NOTICE OF DEFAULTS
	 	 	25	 
	SECTION 7.03 CERTAIN RIGHTS OF TRUSTEE
	 	 	25	 
	SECTION 7.04 TRUSTEE NOT RESPONSIBLE FOR RECITALS OR ISSUANCE OR
SECURITIES
	 	 	27	 
	SECTION 7.05 MAY HOLD SECURITIES
	 	 	27	 
	SECTION 7.06 MONEYS HELD IN TRUST
	 	 	27	 
	SECTION 7.07 COMPENSATION AND REIMBURSEMENT
	 	 	27	 
	SECTION 7.08 RELIANCE ON OFFICERS’ CERTIFICATE
	 	 	28	 
	SECTION 7.09 DISQUALIFICATION; CONFLICTING INTERESTS
	 	 	28	 
	SECTION 7.10 CORPORATE TRUSTEE REQUIRED; ELIGIBILITY
	 	 	28	 
	SECTION 7.11 RESIGNATION AND REMOVAL; APPOINTMENT OF SUCCESSOR
	 	 	29	 
	SECTION 7.12 ACCEPTANCE OF APPOINTMENT BY SUCCESSOR
	 	 	30	 
	SECTION 7.13 MERGER, CONVERSION, CONSOLIDATION OR SUCCESSION TO
BUSINESS
	 	 	31	 
	SECTION 7.14 PREFERENTIAL COLLECTION OF CLAIMS AGAINST THE
COMPANY
	 	 	31	 
	ARTICLE VIII CONCERNING THE SECURITYHOLDERS
	 	 	31	 
	SECTION 8.01 EVIDENCE OF ACTION BY SECURITYHOLDERS
	 	 	31	 
	SECTION 8.02 PROOF OF EXECUTION BY SECURITYHOLDERS
	 	 	31	 
	SECTION 8.03 WHO MAY BE DEEMED OWNERS
	 	 	32	 
	SECTION 8.04 CERTAIN SECURITIES OWNED BY COMPANY DISREGARDED
	 	 	32	 
	SECTION 8.05 ACTIONS BINDING ON FUTURE SECURITYHOLDERS
	 	 	32	 
	ARTICLE IX SUPPLEMENTAL INDENTURES
	 	 	33	 
	SECTION 9.01 SUPPLEMENTAL INDENTURES WITHOUT THE CONSENT OF
SECURITYHOLDERS
	 	 	33	 
	SECTION 9.02 SUPPLEMENTAL INDENTURES WITH CONSENT OF
SECURITYHOLDERS
	 	 	34	 
	SECTION 9.03 EFFECT OF SUPPLEMENTAL INDENTURES
	 	 	34	 
	SECTION 9.04 SECURITIES AFFECTED BY SUPPLEMENTAL INDENTURES
	 	 	34	 
	SECTION 9.05 EXECUTION OF SUPPLEMENTAL INDENTURES
	 	 	35	 
	ARTICLE X SUCCESSOR ENTITY
	 	 	35	 
	SECTION 10.01 COMPANY MAY CONSOLIDATE, ETC
	 	 	35	 
	SECTION 10.02 SUCCESSOR ENTITY SUBSTITUTED
	 	 	36	 
	SECTION 10.03 EVIDENCE OF CONSOLIDATION, ETC. TO TRUSTEE
	 	 	36	 
	ARTICLE XI SATISFACTION AND DISCHARGE; DEFEASANCE
	 	 	36	 
	SECTION 11.01 SATISFACTION AND DISCHARGE
	 	 	36	 
	SECTION 11.02 DEFEASANCE
	 	 	37	 
	SECTION 11.03 DEPOSITED MONEYS TO BE HELD IN TRUST
	 	 	38	 
	SECTION 11.04 PAYMENT OF MONEYS HELD BY PAYING AGENTS
	 	 	38	 
	SECTION 11.05 REPAYMENT TO COMPANY
	 	 	38	 
	ARTICLE XII IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND
DIRECTORS
	 	 	38	 
	SECTION 12.01 NO RECOURSE
	 	 	39	 
	ARTICLE XIII MISCELLANEOUS PROVISIONS
	 	 	39	 
	SECTION 13.01 EFFECT ON SUCCESSORS AND ASSIGNS
	 	 	39	 
	SECTION 13.02 ACTIONS BY SUCCESSOR
	 	 	39	 
	SECTION 13.03 SURRENDER OF COMPANY POWERS
	 	 	39	 
	SECTION 13.04 NOTICES
	 	 	39	 
	SECTION 13.05 GOVERNING LAW; WAIVER OF TRIAL BY JURY
	 	 	40	 
	SECTION 13.06 TREATMENT OF SECURITIES AS DEBT
	 	 	40	 
	SECTION 13.07 COMPLIANCE CERTIFICATES AND OPINIONS
	 	 	40	 
	SECTION 13.08 PAYMENTS ON BUSINESS DAYS
	 	 	40	 
	SECTION 13.09 CONFLICT WITH TRUST INDENTURE ACT
	 	 	41	 
	SECTION 13.10 COUNTERPARTS
	 	 	41	 






 - iii - 









 






	 	 	 	 	 
	 	 	Page
	SECTION 13.11 SEPARABILITY
	 	 	41	 
	SECTION 13.12 ASSIGNMENT
	 	 	41	 
	SECTION
13.13 FORCE MAJEURE
	 	 	41	 
	ARTICLE
XIV SUBORDINATION OF SECURITIES
	 	 	41	 
	SECTION
14.01 SUBORDINATION TERMS
	 	 	41	 






 - iv - 









 






     INDENTURE,
dated as of June __, 2008, between American Commercial Lines Inc., a Delaware
corporation (the “Company”), and The Bank of New York Trust Company, N.A., a New York banking
corporation, as trustee (the “Trustee”):



RECITALS OF THE COMPANY




     WHEREAS, for its lawful corporate purposes, the Company has duly authorized the execution and
delivery of this Indenture to provide for the issuance of unsecured subordinated debt securities
(hereinafter referred to as the “Securities”), in an unlimited aggregate principal amount to be
issued from time to time in one or more series as in this Indenture provided, as registered
Securities without coupons, to be authenticated by the certificate of the Trustee;



     WHEREAS, to provide the terms and conditions upon which the Securities are to be
authenticated, issued and delivered, the Company has duly authorized the execution of this
Indenture; and



     WHEREAS, all things necessary to make this Indenture a valid agreement of the Company, in
accordance with its terms, have been done.



     NOW, THEREFORE, in consideration of the premises and the purchase of the Securities by the
Holders thereof, it is mutually covenanted and agreed as follows for the equal and ratable benefit
of the Holders of Securities or of series thereof.



ARTICLE I

DEFINITIONS




SECTION 1.01 DEFINITIONS OF TERMS.




     The terms defined in this Section (except as in this Indenture 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 and shall include
the plural as well as the singular. All other terms used in this Indenture that are defined in the
Trust Indenture Act, or that are by reference in said Trust Indenture Act defined in the Securities
Act (except as herein otherwise expressly provided or unless the context otherwise requires), shall
have the meanings assigned to such terms in said Trust Indenture Act and in said Securities Act as
in force at the date of the execution of this instrument.



     “ARTICLE”, “SECTION” or other subdivisions refer to Articles, Sections or other subdivisions
of this Indenture.



     “AUTHENTICATING AGENT” means an authenticating agent with respect to all or any of the series
of Securities appointed with respect to all or any series of the Securities by the Trustee pursuant
to Section 2.10.



     “BANKRUPTCY LAW” means Title 11, U.S. Code, or any similar federal or state law for the relief
of debtors.



     “BOARD OF DIRECTORS” means the Board of Directors of the Company or any duly authorized
committee of such Board.



     “BOARD RESOLUTION” means a copy of a resolution 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.



 - 2 - 









 





     “BUSINESS DAY” means, with respect to any series of Securities, any day other than a Saturday
or Sunday, or a day on which federal or state banking institutions in the Borough of Manhattan, The
City of New York, are authorized or obligated by law, executive order or regulation to close.



     “CERTIFICATE” means a certificate signed by the principal executive officer, the principal
financial officer or the principal accounting officer of the Company. The Certificate need not
comply with the provisions of Section 13.07.



     “COMMISSION” means the Securities and Exchange Commission.



     “COMPANY” means American Commercial Lines Inc., a corporation duly organized and existing
under the laws of the State of Delaware, and, subject to the provisions of Article X, shall also
include its successors and assigns.



     “CORPORATE TRUST OFFICE” means the office of the Trustee at which, at any particular time, its
corporate trust business shall be principally administered, which office at the date hereof is
located at 101 Barclay Street, 8W, New York, New York 10286.



     “COVENANT DEFEASANCE” has the meaning given in Section 11.02.



     “CUSTODIAN” means any receiver, trustee, assignee, liquidator or similar official under any
Bankruptcy Law.



     “DEFAULT” means any event, act or condition that with notice or lapse of time, or both, would
constitute an Event of Default.



     “DEFAULTED INTEREST” has the meaning given in Section 2.03.



     “DEPOSITARY” means, with respect to Securities of any series, for which the Company shall
determine that such Securities will be issued as a Global Security, The Depository Trust Company,
New York, New York, another clearing agency, or any successor registered as a clearing agency under
the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), or other applicable
statute or regulation, which, in each case, shall be designated by the Company pursuant to either
Section 2.01 or 2.11.



     “EVENT OF DEFAULT” means, with respect to Securities of a particular series any event
specified in Section 6.01, continued for the period of time, if any, therein designated.



     “EXCHANGE ACT” means the Securities Exchange Act of 1934, as amended, or any successor statute
or statutes thereto.



     “GLOBAL SECURITY” means, with respect to any series of Securities, a Security executed by the
Company and delivered by the Trustee to the Depositary or pursuant to the Depositary’s instruction,
all in accordance with the Indenture, which shall be registered in the name of the Depositary or
its nominee.



     “GOVERNMENTAL OBLIGATIONS” means securities that are (i) direct obligations of the United
States of America 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 of America, the payment of which is unconditionally guaranteed as a full faith and credit
obligation by the United States of America that, in either case, are not callable or redeemable at
the option of the issuer thereof, and shall also include a depositary receipt issued by a bank (as
defined in Section 3(a)(2) of the Securities Act) as custodian with respect to any such
Governmental Obligation or a specific payment of principal of or interest on any such Governmental
Obligation held by such custodian for the account of the Holder of such depositary receipt;
provided, however, that (except as required by law) such custodian is not



 - 3 - 









 







authorized to make any deduction from the amount payable to the Holder of such depositary
receipt from any amount received by the custodian in respect of the Governmental Obligation or the
specific payment of principal of or interest on the Governmental Obligation evidenced by such
depositary receipt.



     “HEREIN”, “HEREOF” and “HEREUNDER”, and other words of similar import, refer to this Indenture
as a whole and not to any particular Article, Section or other subdivision.



     “INCLUDING”, unless the context requires otherwise, means including without limitation.



     “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 in accordance
with the terms hereof, including, for all purposes of this instrument and any such supplemental
indenture, the provisions of the Trust Indenture Act that are deemed to be a part of and govern
this instrument and any such supplemental indenture, respectively. The term “Indenture” shall also
include the terms of particular series of Securities established as contemplated by Section 2.01.



     “INTEREST PAYMENT DATE”, when used with respect to any installment of interest on a Security
of a particular series, means the date specified in such Security or in a Board Resolution or in an
indenture supplemental hereto with respect to such series as the fixed date on which an installment
of interest with respect to Securities of that series is due and payable.



     “LEGAL DEFEASANCE” has the meaning given in Section 11.02.



     “OFFICERS’ CERTIFICATE” means a certificate signed by the President or a Vice President and by
the Treasurer or an Assistant Treasurer or the Controller or an Assistant Controller or the
Secretary or an Assistant Secretary of the Company that is delivered to the Trustee in accordance
with the terms hereof. Each such certificate shall include the statements provided for in Section
13.07, if and to the extent required by the provisions thereof.



     “OPINION OF COUNSEL” means an opinion in writing of legal counsel acceptable to the Trustee,
who may be an employee of or counsel for the Company that is delivered to the Trustee in accordance
with the terms hereof. Each such opinion shall include the statements provided for in
Section 13.07, if and to the extent required by the provisions thereof.



     “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 of any series, means, subject to the
provisions of Section 8.04, as of any particular time, all Securities of that series theretofore
authenticated and delivered by the Trustee under this Indenture, except (a) Securities theretofore
canceled by the Trustee or any paying agent, or delivered to the Trustee or any paying agent for
cancellation or that have previously been canceled; (b) Securities or portions thereof for the
payment or redemption of which moneys or Governmental Obligations in the necessary amount shall
have been deposited in trust with the Trustee or with any paying agent (other than the Company) or
shall have been set aside and segregated in trust by the Company (if the Company shall act as its
own paying agent); provided, however, that if such Securities or portions of such Securities are to
be redeemed prior to the maturity thereof, notice of such redemption shall have been given as in
Article III; or provision satisfactory to the Trustee shall have been made for giving such notice;
and (c) Securities in lieu of or in substitution for which other Securities shall have been
authenticated and delivered pursuant to the terms of Section 2.07; provided, however, that in
determining whether the Holders of the requisite principal amount of the Outstanding Securities
have given, made or taken any request, demand, authorization, direction, notice, consent, waiver or
other action hereunder as of any date, the principal amount of an Original Issue Discount Security
which shall be deemed to be



 - 4 - 









 







Outstanding shall be the amount of the principal thereof which would be due and payable as of
such date upon acceleration of the maturity thereof to such date pursuant to Section 6.01.



     “PERSON” means any individual, corporation, limited liability company, partnership,
joint-venture, joint-stock company, unincorporated organization or government or any agency or
political subdivision thereof.



     “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 2.07 in lieu of a lost,
destroyed or stolen Security shall be deemed to evidence the same debt as the lost, destroyed or
stolen Security.



     “RESPONSIBLE OFFICER” or “responsible officer” when used with respect to the Trustee means
any officer assigned to the Corporate Trust Division — Corporate Finance Unit (or any successor
division or unit) of the Trustee located at the Corporate Trust Office of the Trustee, who shall
have direct responsibility for the administration of this Indenture, and for the purposes of
Section 7.01(b)(ii) and Section 315(b) of the Trust Indenture Act shall also include any other
officer of the Trustee to whom any corporate trust matter is referred because of his or her
knowledge of and familiarity with the particular subject.



     “SECURITIES” means the debt securities authenticated and delivered under this Indenture.



     “SECURITIES ACT” means the Securities Act of 1933, as amended, or any successor statute or
statutes thereto.



     “SECURITYHOLDER”, “HOLDER of SECURITIES”, “REGISTERED HOLDER”, “HOLDER”, or other similar
term, means the Person or Persons in whose name or names a particular Security shall be registered
on the books of the Company kept for that purpose in accordance with the terms of this Indenture.



     “SECURITY REGISTER” has the meaning given in Section 2.05.



     “SECURITY REGISTRAR” has the meaning given in Section 2.05.



     “SENIOR INDEBTEDNESS” means the principal of (and premium, if any) and interest (including any
interest accruing subsequent to the filing of a petition of bankruptcy at the rate provided for in
the documentation with respect thereto, whether or not such interest is an allowed claim under
applicable law) on any indebtedness of the Company, incurred or assumed, unless, in the case of any
particular indebtedness, the instrument creating or evidencing the same or pursuant to which the
same is outstanding expressly provides that such indebtedness shall not be senior in right of
payment to the Securities. Notwithstanding the foregoing, “SENIOR INDEBTEDNESS” shall not include
(i) any indebtedness of the Company to a Subsidiary of the Company or any Affiliate of the Company
or any of such Affiliate’s Subsidiaries, (ii) indebtedness to, or guaranteed on behalf of, any
shareholder, director, officer or employee of the Company or any Subsidiary of the Company
(including, without limitation, amounts owed for compensation), (iii) indebtedness to trade
creditors and other amounts incurred in connection with obtaining goods, materials or services,
(iv) any liability for federal, state, local or other taxes owed or owing by the Company, (v) that
portion of any indebtedness incurred in violation of an incurrence test applicable to a series of
the Securities, (vi) that portion of any indebtedness which, when incurred and without respect to
any election under Section 1111(b) of Title 11, United States Code, is without recourse to the
Company and (vii) that portion of any indebtedness which is, by its express terms, subordinated in
right of payment to the Securities.



     “SUBSIDIARY” means, with respect to any Person, (i) any corporation at least a majority of
whose outstanding Voting Stock shall at the time be owned, directly or indirectly, by such Person
or by one



 - 5 - 









 







or more of its Subsidiaries or by such Person and one or more of its Subsidiaries, (ii) any
general partnership, limited liability company, joint venture or similar entity, at least a
majority of whose outstanding partnership or similar interests shall at the time be owned by such
Person, or by one or more of its Subsidiaries, or by such Person and one or more of its
Subsidiaries and (iii) any limited partnership of which such Person or any of its Subsidiaries is a
general partner.



     “TRUSTEE” means The Bank of New York Trust Company, N.A. and, subject to the provisions of
Article VII, shall also include its successors and assigns, and, if at any time there is more than
one Person acting in such capacity hereunder, “Trustee” shall mean each such Person. The term
“Trustee” as used with respect to a particular series of the Securities shall mean the trustee with
respect to that series.



     “TRUST INDENTURE ACT” means the Trust Indenture Act of 1939, as amended, subject to the
provisions of Sections 9.01, 9.02, and 10.01, as in effect at the date of execution of this
instrument.



     “VOTING STOCK”, as applied to stock of any Person, means shares, interests, participations or
other equivalents in the equity interest (however designated) in such Person having ordinary voting
power for the election of a majority of the directors (or the equivalent) of such Person, other
than shares, interests, participations or other equivalents having such power only by reason of the
occurrence of a contingency.



ARTICLE II

ISSUE, DESCRIPTION, TERMS, EXECUTION,

REGISTRATION AND EXCHANGE OF SECURITIES




SECTION 2.01 DESIGNATION AND TERMS OF SECURITIES.




     The aggregate principal amount of Securities that may be authenticated and delivered under
this Indenture is unlimited. The Securities may be issued in one or more series up to the aggregate
principal amount, if any, of Securities of that series from time to time authorized by or pursuant
to a Board Resolution or pursuant to one or more indentures supplemental hereto. Prior to the
initial issuance of Securities of any series, 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:



     (1) the title of the Security of the series (which shall distinguish the Securities of the
series from all other Securities);



     (2) any limit upon the aggregate principal amount of the Securities of that 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 that
series);



     (3) the date or dates on which the principal of the Securities of the series is payable and
the place(s) of payment;



     (4) the rate or rates at which the Securities of the series shall bear interest or the manner
of calculation of such rate or rates, if any;



     (5) the date or dates from which such interest shall accrue, the Interest Payment Dates on
which such interest will be payable or the manner of determination of such Interest Payment Dates,
the place(s) of payment, and the record date or other method for the determination of Holders to
whom interest is payable on any such Interest Payment Dates;



     (6) the right, if any, to extend the interest payment periods and the duration of such
extension;



 - 6 - 









 





     (7) 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;



     (8) the obligation, if any, of the Company to redeem or purchase Securities of the series
pursuant to any sinking fund or analogous provisions (including payments made in cash in
satisfaction of future sinking fund obligations) 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 or purchased, in whole or in part, pursuant to
such obligation;



     (9) any additional or different subordination terms applicable to the Securities of the
series;



     (10) the form of the Securities of the series, including the form of the Trustee’s certificate
of authentication for such series;



     (11) if other than denominations of one thousand U.S. dollars ($1,000) or any integral
multiple thereof, the denominations in which the Securities of the series shall be issuable;



     (12) any and all other terms with respect to such series (which terms shall not be
inconsistent with the terms of this Indenture;



     (13) whether the Securities of the series are issuable as a Global Security and, in such case,
the identity of the Depositary for such series and any other or different terms in respect of such
Global Security;



     (14) whether the Securities of the series will be convertible into shares of common stock or
other securities of the Company and, if so, the terms and conditions upon which such Securities
will be so convertible, including the conversion price and the conversion period;



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



     (16) any additional or different Events of Default or restrictive covenants provided for with
respect to the Securities of the series;



     (17) if applicable, that the Securities of the series, in whole or in specified part, shall be
defeasible pursuant to Section 11.02 and, if other than by a Board Resolution, the manner in which
any election by the Company to defease such Securities shall be evidenced; and



     (18) if other than the currency of the United States of America, the currency, currencies or
currency units in which the principal of or any premium or interest on any Securities of the series
shall be payable and the manner of determining the equivalent thereof in the currency of the United
States of America for any purpose, including for purposes of the definition of “Outstanding” in
Section 1.01. All Securities of any one series shall be substantially identical except as to
denomination and except as may otherwise be provided in or pursuant to any such Board Resolution or
in any indentures supplemental hereto. 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
certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at
or prior to the delivery of the Officers’ Certificate setting forth the terms of the series.
Securities of any particular series may be issued at various times, with different dates on which
the principal or any installment of principal is payable, with different rates of interest, if any,
or different methods by which rates of interest may be determined, with different dates on which
such interest may be payable and with different redemption dates. Notwithstanding Section 2.01(2)
and unless otherwise expressly provided with respect to a series of Securities, the aggregate
principal amount of a



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series of Securities may be increased and additional Securities of such series may be issued
up to the maximum aggregate principal amount authorized with respect to such series as increased.



SECTION 2.02 FORM OF SECURITIES AND TRUSTEE’S CERTIFICATE.




     The Securities of any series and the Trustee’s certificate of authentication to be borne by
such Securities shall be substantially of the tenor and purport as set forth in one or more
indentures supplemental hereto or as provided in or pursuant to a Board Resolution and as set forth
in an Officers’ Certificate. The Securities may have such letters, numbers or other marks of
identification or designation and such legends or endorsements printed, lithographed or engraved
thereon as the Company may deem appropriate and as are not inconsistent with the provisions of this
Indenture, or as may be required to comply with any law or with any rule or regulation made
pursuant thereto or with any rule or regulation of any stock exchange on which Securities of that
series may be listed, or to conform to usage.



SECTION 2.03 DENOMINATIONS: PROVISIONS FOR PAYMENT.




     The Securities shall be issuable as registered Securities and in the denominations of one
thousand U.S. dollars ($1,000) or any integral multiple thereof, subject to Section 2.01(11). The
Securities of a particular series shall bear interest payable on the dates and at the rates
specified or provided for with respect to that series. Except as contemplated by Section 2.01(18),
the principal of and the interest on the Securities of any series, as well as any premium thereon
in case of redemption thereof prior to maturity, shall be payable in the coin or currency of the
United States of America that at the time is legal tender for public and private debt, at the
office or agency of the Company maintained for that purpose in the Borough of Manhattan, the City
and State of New York; provided, however, that at the option of the Company payment of interest may
be made by check mailed to the address of the Person entitled thereto as such address shall appear
in the Security Register. Each Security shall be dated the date of its authentication by the
Trustee. Except as contemplated by Section 2.01(4), interest on the Securities shall be computed on
the basis of a 360-day year composed of twelve 30-day months. Except as contemplated by
Section 2.01(5), the interest installment on any Security that is payable, and is punctually paid
or duly provided for, on any Interest Payment Date for Securities of that series shall be paid to
the Person in whose name said Security (or one or more Predecessor Securities) is registered at the
close of business on the regular record date for such interest installment. In the event that any
Security of a particular series or portion thereof is called for redemption and the redemption date
is subsequent to a regular record date with respect to any Interest Payment Date and prior to such
Interest Payment Date, interest on such Security will be paid upon presentation and surrender of
such Security as provided in Section 3.03. Any interest on any Security that is payable, but is not
punctually paid or duly provided for, on any Interest Payment Date for Securities of the same
series (herein called “Defaulted Interest”) shall forthwith cease to be payable to the registered
Holder on the relevant regular record date by virtue of having been such Holder; and such Defaulted
Interest shall be paid by the Company, at its election, as provided in clause (1) or clause
(2) below:



     (1) The Company may make payment of any Defaulted Interest on Securities to the Persons in
whose names such Securities (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 of the amount of
Defaulted Interest proposed to be paid on each such Security 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 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 not be more than 15 nor 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 Securityholder at his or her address as it appears in
the Security Register (as



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hereinafter defined), 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 mailed
as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities
(or their respective Predecessor Securities) are registered on such special record date.



     (2) The Company may make payment of any Defaulted Interest on any Securities in any other
lawful manner not inconsistent with the requirements of any securities exchange on which such
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. Unless otherwise set forth in a Board
Resolution or one or more indentures supplemental hereto establishing the terms of any series of
Securities pursuant to Section 2.01 hereof, the term “regular record date” as used in this Section
with respect to a series of Securities with respect to any Interest Payment Date for such series
shall mean either the fifteenth day of the month immediately preceding the month in which an
Interest Payment Date established for such series pursuant to Section 2.01 hereof shall occur, if
such Interest Payment Date is the first day of a month, or the last day of the month immediately
preceding the month in which an Interest Payment Date established for such series pursuant to
Section 2.01 hereof shall occur, if such Interest Payment Date is the fifteenth day of a month,
whether or not such date is a Business Day. Subject to the foregoing provisions of this Section,
each Security of a series delivered under this Indenture upon transfer of or in exchange for or in
lieu of any other Security of such series shall carry the rights to interest accrued and unpaid,
and to accrue, that were carried by such other Security.



SECTION 2.04 EXECUTION AND AUTHENTICATION.




     The Securities shall be signed on behalf of the Company by its President, or one of its Vice
Presidents, or its Treasurer, or one of its Assistant Treasurers, attested by its Secretary or one
of its Assistant Secretaries. Signatures may be in the form of a manual or facsimile signature. The
Company may use the facsimile signature of any Person who shall have been a President or Vice
President thereof, or of any Person who shall have been the Treasurer, an Assistant Treasurer, the
Secretary or an Assistant Secretary thereof, notwithstanding the fact that at the time the
Securities shall be authenticated and delivered or disposed of such Person shall have ceased to be
the President or a Vice President, or the Treasurer, an Assistant Treasurer, the Secretary or an
Assistant Secretary, of the Company. The Securities may contain such notations, legends or
endorsements required by law, stock exchange rule or usage. A Security shall not be valid until
authenticated manually by an authorized signatory of the Trustee, or by an Authenticating Agent.
Such signature shall be conclusive evidence and the only evidence that the Security so
authenticated has been duly authenticated and delivered hereunder and that the Holder is entitled
to the benefits of this Indenture. 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, together with a written order of the Company for the
authentication and delivery of such Securities, signed by its President or any Vice President and
its Secretary or any Assistant Secretary, and the Trustee in accordance with such written order
shall authenticate and deliver such Securities. 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 (subject to Section 7.01) shall be fully protected in relying upon, an
Opinion of Counsel stating that the form and terms thereof have been established in conformity with
the provisions of this Indenture and 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
enforceable in accordance with their terms, subject to any Bankruptcy Law or other insolvency,
fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating
to or affecting creditors’ rights and to general equity principles and to other customary
exceptions. The Trustee shall not be required to authenticate such Securities if the issue of such
Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities
under the Securities and this Indenture or otherwise in a manner that is not reasonably acceptable
to the Trustee.



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SECTION 2.05 REGISTRATION OF TRANSFER AND EXCHANGE.




     (a) Securities of any series may be exchanged upon presentation thereof at the office or
agency of the Company designated for such purpose in the Borough of Manhattan, the City and State
of New York, for other Securities of such series of authorized denominations, and for a like
aggregate principal amount, upon payment of a sum sufficient to cover any tax or other governmental
charge in relation thereto, all as provided in this Section. In respect of any Securities so
surrendered for exchange, the Company shall execute, the Trustee shall authenticate and such office
or agency shall deliver in exchange therefor the Security or Securities of the same series that the
Securityholder making the exchange shall be entitled to receive, bearing numbers not
contemporaneously outstanding.



     (b) The Company shall keep, or cause to be kept, at its office or agency designated for such
purpose in the Borough of Manhattan, the City and State of New York, or such other location
designated by the Company a register or registers (herein referred to as the “Security Register”)
in which, subject to such reasonable regulations as it may prescribe, the Company shall register
the Securities and the transfers of Securities as in this Article provided and which at all
reasonable times shall be open for inspection by the Trustee. The registrar for the purpose of
registering Securities and transfer of Securities as herein provided shall be appointed as
authorized by Board Resolution (the “Security Registrar”). Upon surrender for transfer of any
Security at the office or agency of the Company designated for such purpose, the Company shall
execute, the Trustee shall authenticate and such office or agency shall deliver in the name of the
transferee or transferees a new Security or Securities of the same series as the Security presented
for a like aggregate principal amount. All Securities presented or surrendered for exchange or
registration of transfer, as provided in this Section, shall be accompanied (if so required by the
Company or the Security Registrar) by a written instrument or instruments of transfer, in form
satisfactory to the Company or the Security Registrar, duly executed by the registered Holder or by
such Holder’s duly authorized attorney in writing.



     (c) No service charge shall be made for any exchange or registration of transfer of
Securities, or issue of new Securities in case of partial redemption of any series, but the Company
may require payment of a sum sufficient to cover any tax or other governmental charge in relation
thereto, other than exchanges pursuant to Section 2.06, Section 3.03(b) and Section 9.04 not
involving any transfer. The Company shall not be required (i) to issue, exchange or register the
transfer of any Securities during a period beginning at the opening of business 15 days before the
day of the mailing of a notice of redemption of less than all the Outstanding Securities of the
same series and ending at the close of business on the day of such mailing, nor (ii) to register
the transfer of or exchange any Securities of any series or portions thereof called for redemption.
The provisions of this Section 2.05 are, with respect to any Global Security, subject to
Section 2.11 hereof.



SECTION 2.06 TEMPORARY SECURITIES.




     Pending the preparation of definitive Securities of any series, the Company may execute, and
the Trustee shall authenticate and deliver, temporary Securities (printed, lithographed or
typewritten) of any authorized denomination. Such temporary Securities shall be substantially in
the form of the definitive Securities in lieu of which they are issued, but with such omissions,
insertions and variations as may be appropriate for temporary Securities, all as may be determined
by the Company. Every temporary Security of any series shall be executed by the Company and be
authenticated by the Trustee upon the same conditions and in substantially the same manner, and
with like effect, as the definitive Securities of such series. Without unnecessary delay the
Company will execute and will furnish definitive Securities of such series and thereupon any or all
temporary Securities of such series may be surrendered in exchange therefor (without charge to the
Holders), at the office or agency of the Company designated for the purpose in the Borough of
Manhattan, the City and State of New York, and the Trustee shall authenticate and such office or
agency shall deliver in exchange for such temporary Securities an equal aggregate principal amount
of definitive Securities of such series, unless the Company advises the Trustee to the effect that
definitive Securities need not be executed and furnished until further notice from the Company.
Until so exchanged, the temporary Securities of such series shall be entitled to the same benefits
under this Indenture as definitive Securities of such series authenticated and delivered hereunder.



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SECTION 2.07 MUTILATED, DESTROYED, LOST OR STOLEN SECURITIES.




     In case any temporary or definitive Security shall become mutilated or be destroyed, lost or
stolen, the Company (subject to the next succeeding sentence) shall execute, and upon the Company’s
request the Trustee (subject as aforesaid) shall authenticate and deliver, a new Security of the
same series, bearing a number not contemporaneously outstanding, in exchange and substitution for
the mutilated Security, or in lieu of and in substitution for the Security so destroyed, lost or
stolen. In every case the applicant for a substituted Security shall furnish to the Company and the
Trustee such security or indemnity as may be required by them to save each of them harmless, and,
in every case of destruction, loss or theft, the applicant shall also furnish to the Company and
the Trustee evidence to their satisfaction of the destruction, loss or theft of the applicant’s
Security and of the ownership thereof. The Trustee may authenticate any such substituted Security
and deliver the same upon the written request or authorization of any officer of the Company. Upon
the issuance of any substituted Security, 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. In case any Security
that has matured or is about to mature shall become mutilated or be destroyed, lost or stolen, the
Company may, instead of issuing a substitute Security, pay or authorize the payment of the same
(without surrender thereof except in the case of a mutilated Security) if the applicant for such
payment shall furnish to the Company and the Trustee such security or indemnity as they may require
to save them harmless, and, in case of destruction, loss or theft, evidence to the satisfaction of
the Company and the Trustee of the destruction, loss or theft of such Security and of the ownership
thereof. Every replacement Security issued pursuant to the provisions of this Section shall
constitute an additional contractual obligation of the Company whether or not the mutilated,
destroyed, lost or stolen Security shall be found at any time, or be enforceable by anyone, and
shall be entitled to all the benefits of this Indenture equally and proportionately with any and
all other Securities of the same series duly issued hereunder. All Securities shall be held and
owned upon the express condition that the foregoing provisions are exclusive with respect to the
replacement or payment of mutilated, destroyed, lost or stolen Securities, and shall preclude (to
the extent lawful) any and all other rights or remedies, notwithstanding any law or statute
existing or hereafter enacted to the contrary with respect to the replacement or payment of
negotiable instruments or other securities without their surrender.



SECTION 2.08 CANCELLATION.




     All Securities surrendered for the purpose of payment, redemption, exchange or registration of
transfer shall, if surrendered to the Company or any paying agent, be delivered to the Trustee for
cancellation, or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall
be issued in lieu thereof except as expressly required or permitted by any of the provisions of
this Indenture. On request of the Company at the time of such surrender, the Trustee shall deliver
to the Company canceled Securities held by the Trustee. In the absence of such request the Trustee
may dispose of canceled Securities in accordance with its standard procedures and deliver a
certificate of disposition to the Company. If the Company shall otherwise acquire any of the
Securities, however, such acquisition shall not operate as a redemption or satisfaction of the
indebtedness represented by such Securities unless and until the same are delivered to the Trustee
for cancellation.



SECTION 2.09 BENEFITS OF INDENTURE.




     Nothing in this Indenture or in the Securities, express or implied, shall give or be construed
to give to any Person, other than the parties hereto and the Holders of the Securities (and, with
respect to the provisions of Article XIV, the holders of Senior Indebtedness) any legal or
equitable right, remedy or claim under or in respect of this Indenture, or under any covenant,
condition or provision herein contained; all such covenants, conditions and provisions being for
the sole benefit of the parties hereto and of the Holders of the Securities (and, with respect to
the provisions of Article XIV, the holder of Senior Indebtedness).



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SECTION 2.10 AUTHENTICATING AGENT.




     So long as any of the Securities of any series remain Outstanding there may be an
Authenticating Agent for any or all such series of Securities which the Trustee shall have the
right to appoint. Said Authenticating Agent shall be authorized to act on behalf of the Trustee to
authenticate Securities of such series issued upon exchange, transfer or partial redemption
thereof, and Securities so authenticated shall be entitled to the benefits of this Indenture and
shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. All
references in this Indenture to the authentication of Securities by the Trustee shall be deemed to
include authentication by an Authenticating Agent for such series. Each Authenticating Agent shall
be acceptable to the Company and shall be a corporation that has a combined capital and surplus, as
most recently reported or determined by it, sufficient under the laws of any jurisdiction under
which it is organized or in which it is doing business to conduct a trust business, and that is
otherwise authorized under such laws to conduct such business and is subject to supervision or
examination by federal or state authorities. If at any time any Authenticating Agent shall cease to
be eligible in accordance with these provisions, it shall resign immediately. 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 (and upon request by the Company shall) terminate the agency
of any Authenticating Agent by giving written notice of termination to such Authenticating Agent
and to the Company. Upon resignation, termination or cessation of eligibility of any Authenticating
Agent, the Trustee may appoint an eligible successor Authenticating Agent acceptable to the
Company. Any successor Authenticating Agent, upon acceptance of its appointment hereunder, shall
become vested with all the rights, powers and duties of its predecessor hereunder as if originally
named as an Authenticating Agent pursuant hereto. Any corporation into which an 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 such Authenticating Agent shall be a party,
or any corporation succeeding to the corporate agency or corporate trust business of an
Authenticating Agent, shall continue to be an Authenticating Agent, provided that such corporation
shall be otherwise eligible under this Section, without the execution or filing of any paper or any
further act on the part of the Trustee or the Authenticating Agent.



SECTION 2.11 GLOBAL SECURITIES.




     (a) If the Company shall establish pursuant to Section 2.01 that the Securities of a
particular series are to be issued as a Global Security, then the Company shall execute and the
Trustee shall, in accordance with Section 2.04, authenticate and deliver, a Global Security that



          (1) shall represent, and shall be denominated in an amount equal to the aggregate principal
amount of, all or a portion of the Outstanding Securities of such series,




          (2) shall be registered in the name of the Depositary or its nominee,




          (3) shall be delivered by the Trustee to the Depositary or pursuant to the Depositary’s
instruction, and




          (4) shall bear a legend substantially to the following effect: “Except as otherwise provided
in Section 2.11 of the Indenture, this Security may be transferred, in whole but not in part, only
to the Depositary, another nominee of the Depositary or to a successor Depositary or to a nominee
of such successor Depositary.”




     (b) Notwithstanding the provisions of Section 2.05, the Global Security of a series may be
transferred, in whole but not in part and in the manner provided in Section 2.05, only to the
Depositary for such series, another nominee of the Depositary for such series, or to a successor
Depositary for such series selected or approved by the Company or to a nominee of such successor
Depositary.



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     (c) If at any time the Depositary for a series of the Securities notifies the Company that it
is unwilling or unable to continue as Depositary for such series or if at any time the Depositary
for such series shall no longer be registered or in good standing under the Exchange Act, or other
applicable statute or regulation, and a successor Depositary for such series is not appointed by
the Company within 90 days after the Company receives such notice or becomes aware of such
condition, as the case may be, this Section 2.11 shall no longer be applicable to the Securities of
such series and the Company will execute, and subject to Section 2.05, the Trustee will
authenticate and deliver the Securities of such series in definitive registered form without
coupons, in authorized denominations, and in an aggregate principal amount equal to the principal
amount of the Global Security of such series in exchange for such Global Security. In addition, the
Company may at any time determine that the Securities of any series shall no longer be represented
by a Global Security and that the provisions of this Section 2.11 shall no longer apply to the
Securities of such series. In such event the Company will execute and subject to Section 2.05, the
Trustee, upon receipt of an Officers’ Certificate evidencing such determination by the Company,
will authenticate and deliver the Securities of such series in definitive registered form without
coupons, in authorized denominations, and in an aggregate principal amount equal to the principal
amount of the Global Security of such series in exchange for such Global Security. Upon the
exchange of the Global Security for such Securities in definitive registered form without coupons,
in authorized denominations, the Global Security shall be canceled by the Trustee. Such Securities
in definitive registered form issued in exchange for the Global Security pursuant to this
Section 2.11(c) shall be registered in such names and in such authorized denominations as the
Depositary, pursuant to instructions from its direct or indirect participants or otherwise, shall
instruct the Trustee. The Trustee shall deliver such Securities to the Depositary for delivery to
the Persons in whose names such Securities are so registered.



     (d) None of the Trustee, the Security Registrar or any paying agent shall have any
responsibility or obligation to any beneficial owner in a Global Security, a member of, or a
participant in the Depositary or other Person with respect to the accuracy of the records of the
Depositary or its nominee or of any participant or member thereof, with respect to any ownership
interest in the Securities or with respect to the delivery to any participant, member, beneficial
owner or other Person (other than the Depositary) of any notice (including any notice of
redemption) or the payment of any amount, under or with respect to such Securities. All notices
and communications to be given to the Securityholders and all payments to be made to
Securityholders under the Securities and this Indenture shall be given or made only to or upon the
order of the registered holders (which shall be the Depositary or its nominee in the case of the
Global Security). The rights of beneficial owners in the Global Security shall be exercised only
through the Depositary subject to the applicable procedures. The Trustee, the Security Registrar
and any paying agent shall be entitled to rely and shall be fully protected in relying upon
information furnished by the Depositary with respect to its members, participants and any
beneficial owners. The Trustee, the Security Registrar and any paying agent shall be entitled to
deal with any depositary (including the Depositary), and any nominee thereof, that is the
registered holder of any Global Security for all purposes of this Indenture relating to such Global
Security (including the payment of principal, premium, if any, and interest and additional amounts,
if any, and the giving of instructions or directions by or to the owner or holder of a beneficial
ownership interest in such Global Security) as the sole holder of such Global Security and shall
have no obligations to the beneficial owners thereof. None of the Trustee, the Security Registrar
or any paying agent shall have any responsibility or liability for any acts or omissions of any
such depositary with respect to such Global Security, for the records of any such depositary,
including records in respect of beneficial ownership interests in respect of any such Global
Security, for any transactions between such depositary and any participant in such depositary or
between or among any such depositary, any such participant and/or any holder or owner of a
beneficial interest in such Global Security, or for any transfers of beneficial interests in any
such Global Security.



          Notwithstanding the foregoing, with respect to any Global Security, nothing herein shall
prevent the Company, the Trustee, the Security Registrar, any paying agent, or any other agent of
the Company or any agent of the Trustee, from giving effect to any written certification, proxy or
other authorization furnished by any depositary (including the Depositary), as a Securityholder,
with respect to such Global Security or impair, as between such depositary and owners of beneficial
interests in such




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Global Security, the operation of customary practices governing the exercise of the rights of
such depositary (or its nominee) as Holder of such Global Security.




ARTICLE III

REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS




SECTION 3.01 REDEMPTION.




     The Company may redeem the Securities of any series issued hereunder on and after the dates
and in accordance with the terms established for such series pursuant to Section 2.01 hereof.



SECTION 3.02 NOTICE OF REDEMPTION.




     (a) In case the Company shall desire to exercise such right to redeem all or, as the case may
be, a portion of the Securities of any series in accordance with the right reserved so to do, the
Company shall (upon five Business Days prior notice to the Trustee, unless a shorter notice period
shall be acceptable to the Trustee), or shall cause the Trustee to, give notice of such redemption
to Holders of the Securities of such series to be redeemed by mailing, first class postage prepaid,
a notice of such redemption not less than 30 days and not more than 90 days before the date fixed
for redemption of that series to such Holders at their last addresses as they shall appear upon the
Security Register unless a shorter period is specified in the Securities to be redeemed. Any notice
that is mailed in the manner herein provided shall be conclusively presumed to have been duly
given, whether or not the registered Holder receives the notice. In any case, failure duly to give
such notice to the Holder of any Security of any series designated for redemption in whole or in
part, or any defect in the notice, shall not affect the validity of the proceedings for the
redemption of any other Securities of such series or any other series. In the case of any
redemption of Securities prior to the expiration of any restriction on such redemption provided in
the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee
with an Officers’ Certificate evidencing compliance with any such restriction. Each such notice of
redemption shall specify the date fixed for redemption and the redemption price at which Securities
of that series are to be redeemed, and shall state that payment of the redemption price of such
Securities to be redeemed will be made at the office or agency of the Company in the Borough of
Manhattan, the City and State of New York, upon presentation and surrender of such Securities, that
interest accrued to the date fixed for redemption will be paid as specified in said notice, that
from and after said date interest will cease to accrue and that the redemption is for a sinking
fund, if such is the case. If less than all the Securities of a series are to be redeemed, the
notice to the Holders of Securities of that series to be redeemed in whole or in part shall specify
the particular Securities to be so redeemed. In case any Security is to be redeemed in part only,
the notice that relates to such Security shall state the portion of the principal amount thereof to
be redeemed, and shall state that on and after the redemption date, upon surrender of such
Security, a new Security or Securities of such series in principal amount equal to the unredeemed
portion thereof will be issued.



     (b) If less than all the Securities of a series are to be redeemed, the Company shall give the
Trustee at least 45 days’ notice in advance of the date fixed for redemption as to the aggregate
principal amount of Securities of the series to be redeemed, and thereupon the Trustee shall
select, by lot or in such other manner as it shall deem appropriate and fair in its discretion and
that may provide for the selection of a portion or portions (equal to one thousand U.S. dollars
($1,000) or any integral multiple thereof) of the principal amount of such Securities of a
denomination larger than $1,000, the Securities to be redeemed and shall thereafter promptly notify
the Company in writing of the numbers of the Securities to be redeemed, in whole or in part. The
Company may, if and whenever it shall so elect, by delivery of instructions signed on its behalf by
its President or any Vice President, instruct the Trustee or any paying agent to call all or any
part of the Securities of a particular series for redemption and to give notice of redemption in
the manner set forth in this Section, such notice to be in the name of the Company or its own name
as the Trustee or such paying agent as it may deem advisable. In any case in which notice of
redemption is to be given by the Trustee or any such paying agent, the Company shall deliver or
cause to be delivered to, or permit to remain with, the Trustee or such paying agent, as the case
may be, such Security Register, transfer books or other records, or suitable copies or extracts
therefrom, sufficient to enable the



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Trustee or such paying agent to give any notice by mail that may be required under the
provisions of this Section.



SECTION 3.03 PAYMENT UPON REDEMPTION.




     (a) If the giving of notice of redemption shall have been completed as above provided, the
Securities or portions of Securities of the series to be redeemed specified in such notice shall
become due and payable on the date and at the place stated in such notice at the applicable
redemption price, together with interest accrued to the date fixed for redemption and interest on
such Securities or portions of Securities shall cease to accrue on and after the date fixed for
redemption, unless the Company shall default in the payment of such redemption price and accrued
interest with respect to any such Security or portion thereof. On presentation and surrender of
such Securities on or after the date fixed for redemption at the place of payment specified in the
notice, said Securities shall be paid and redeemed at the applicable redemption price for such
series, together with interest accrued thereon to the date fixed for redemption (but if the date
fixed for redemption is an Interest Payment Date, the interest installment payable on such date
shall be payable to the registered Holder at the close of business on the applicable record date
pursuant to Section 2.03).



     (b) Upon presentation of any Security of such series that is to be redeemed in part only, the
Company shall execute and the Trustee shall authenticate and the office or agency where the
Security is presented shall deliver to the Holder thereof, at the expense of the Company, a new
Security of the same series of authorized denominations in principal amount equal to the unredeemed
portion of the Security so presented.



SECTION 3.04 SINKING FUND.




     The provisions of Sections 3.04, 3.05 and 3.06 shall be applicable to any sinking fund for the
retirement of Securities of a series, except as otherwise specified as contemplated by Section 2.01
for Securities of such series. The minimum amount of any sinking fund payment provided for by the
terms of Securities of any series is herein referred to as a “mandatory sinking fund payment,” and
any payment in excess of such minimum amount provided for by the terms of Securities of any series
is herein referred to as an “optional sinking fund payment”. If provided for by the terms of
Securities of any series, the cash amount of any sinking fund payment may be subject to reduction
as provided in Section 3.05. Each sinking fund payment shall be applied to the redemption of
Securities of any series as provided for by the terms of Securities of such series.



SECTION 3.05 SATISFACTION OF SINKING FUND PAYMENTS WITH SECURITIES.




     The Company,



     (1) may deliver Outstanding Securities of a series (other than any Securities previously
called for redemption) and



     (2) may apply as a credit Securities of a series that have been redeemed either at the
election of the Company pursuant to the terms of such Securities or through the application of
permitted optional sinking fund payments pursuant to the terms of such Securities, in each case in
satisfaction of all or any part of any sinking fund payment with respect to the Securities of such
series required to be made pursuant to the terms of such Securities as provided for by the terms of
such series, provided that such Securities have not been previously so credited. Such Securities
shall be received and credited for such purpose by the Trustee at the redemption price specified in
such Securities for redemption through operation of the sinking fund and the amount of such sinking
fund payment shall be reduced accordingly.



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SECTION 3.06 REDEMPTION OF SECURITIES FOR SINKING FUND.




     Not less than 45 days prior to each sinking fund payment date for any series of Securities,
the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next
ensuing sinking fund payment for that series pursuant to the terms of the series, the portion
thereof, if any, that is to be satisfied by delivering and crediting Securities of that series
pursuant to Section 3.05 and the basis for such credit and will, together with such Officers’
Certificate, deliver to the Trustee any Securities to be so delivered. Not less than 30 days before
each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon
such sinking fund payment date in the manner specified in Section 3.02 and cause notice of the
redemption thereof to be given in the name of and at the expense of the Company in the manner
provided in Section 3.02. Such notice having been duly given, the redemption of such Securities
shall be made upon the terms and in the manner stated in Section 3.03.



ARTICLE IV

COVENANTS




SECTION 4.01 PAYMENT OF PRINCIPAL, PREMIUM AND INTEREST.




     The Company will duly and punctually pay or cause to be paid the principal of (and premium, if
any) and interest on the Securities of each series at the time and place and in the manner provided
herein and established with respect to such Securities.



SECTION 4.02 MAINTENANCE OF OFFICE OR AGENCY.




     So long as any series of the Securities remain Outstanding, the Company agrees to maintain an
office or agency in the Borough of Manhattan, the City and State of New York, with respect to each
such series and at such other location or locations as may be designated as provided in this
Section 4.02, where (i) Securities of that series may be presented for payment, (ii) Securities of
that series may be presented as herein above authorized for registration of transfer and exchange,
and (iii) notices and demands to or upon the Company in respect of the Securities of that series
and this Indenture may be given or served, such designation to continue with respect to such office
or agency until the Company shall, by written notice signed by its President or a Vice President
and delivered to the Trustee, designate some other office or agency in the Borough of Manhattan,
the City and State of New York for such purposes or any of them. If at any time the Company shall
fail to maintain any such required office or agency or shall fail to furnish the Trustee with the
address thereof, such presentations, notices and demands may be made or served at the Corporate
Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive
all such presentations, notices and demands.



     The Company may also from time to time designate one or more other offices or agencies 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 the Borough of Manhattan, the City and State of New York for Securities of any series for
such purposes. 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 4.03 PAYING AGENTS.




     (a) If the Company shall appoint one or more paying agents for all or any series of the
Securities, other than the Trustee, the Company will cause each such paying agent to execute and
deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to
the provisions of this Section:



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          (1) that it will hold all sums held by it as such agent for the payment of the principal of
(and premium, if any) or interest on the Securities of that series (whether such sums have been
paid to it by the Company or by any other obligor of such Securities) in trust for the benefit of
the Persons entitled thereto;




          (2) that it will give the Trustee notice of any failure by the Company (or by any other
obligor of such Securities) to make any payment of the principal of (and premium, if any) or
interest on the Securities of that series when the same shall be due and payable;




          (3) that it will, at any time during the continuance of any failure referred to in the
preceding paragraph (a)(2) above, upon the written request of the Trustee, forthwith pay to the
Trustee all sums so held in trust by such paying agent; and




          (4) that it will perform all other duties of paying agent as set forth in this Indenture.




     (b) If the Company shall act as its own paying agent with respect to any series of the
Securities, it will on or before each due date of the principal of (and premium, if any) or
interest on Securities of that series, set aside, segregate and hold in trust for the benefit of
the Persons entitled thereto a sum sufficient to pay such principal (and premium, if any) or
interest so becoming due on Securities of that series until such sums shall be paid to such Persons
or otherwise disposed of as herein provided and will promptly notify the Trustee of such action, or
any failure (by it or any other obligor on such Securities) to take such action. Whenever the
Company shall have one or more paying agents for any series of Securities, it will, prior to each
due date of the principal of (and premium, if any) or interest on any Securities of that series,
deposit with the paying agent a sum sufficient to pay the principal (and premium, if any) or
interest so becoming due, such sum to be held in trust for the benefit of the Persons entitled to
such principal, premium or interest, and (unless such paying agent is the Trustee) the Company will
promptly notify the Trustee of this action or failure so to act.



     (c) Notwithstanding anything in this Section to the contrary,



          (1) the agreement to hold sums in trust as provided in this Section is subject to the
provisions of Section 11.05, and




          (2) the Company may at any time, for the purpose of obtaining the satisfaction and discharge
of this Indenture or for any other purpose, pay, or direct any paying agent to pay, to the Trustee
all sums held in trust by the Company or such paying agent, such sums to be held by the Trustee
upon the same terms and conditions as those upon which such sums were held by the Company or such
paying agent; and, upon such payment by any paying agent to the Trustee, such paying agent shall be
released from all further liability with respect to such money.




SECTION 4.04 APPOINTMENT TO FILL VACANCY IN OFFICE OF TRUSTEE.




     The Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, will
appoint, in the manner provided in Section 7.11, a Trustee, so that there shall at all times be a
Trustee hereunder.



SECTION 4.05 COMPLIANCE WITH CONSOLIDATION PROVISIONS.




     The Company will not, while any of the Securities remain Outstanding, consolidate with or
merge into any other Person, in either case where the Company is not the survivor of such
transaction, or sell, convey, transfer or otherwise dispose of its property as an entirety or
substantially as an entirety, to any other Person unless the provisions of Article X hereof are
complied with.



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SECTION 4.06 STATEMENT BY OFFICERS AS TO DEFAULT.




     The Company will deliver to the Trustee, within 120 days after the end of each fiscal year of
the Company, an Officers’ Certificate, stating whether or not to the best knowledge of the signer
thereof the Company is in default in the performance and observance of any of the terms, provisions
and conditions of this Indenture (without regard to any period of grace or requirement of notice
provided hereunder) and, if the Company shall be in default, specifying all such defaults and the
nature and status thereof of which such signer may have knowledge.



ARTICLE V

SECURITYHOLDERS’ LISTS AND REPORTS

BY THE COMPANY AND THE TRUSTEE




SECTION 5.01 COMPANY TO FURNISH TRUSTEE NAMES AND ADDRESSES OF SECURITYHOLDERS.




     The Company will furnish or cause to be furnished to the Trustee:



          (1) not more than 15 days after each regular record date (as defined in Section 2.03) a list,
in such form as the Trustee may reasonably require, of the names and addresses of the Holders of
each series of Securities as of such regular record date, provided that the Company shall not be
obligated to furnish or cause to furnish such list at any time that the list shall not differ in
any respect from the most recent list furnished to the Trustee by the Company; and




          (2) at such other times as the Trustee may request in writing within 30 days after the receipt
by the Company of any such request, a list of similar form and content as of a date not more than
15 days prior to the time such list is furnished; provided, however, that, in either case, no such
list need be furnished for any series for which the Trustee shall be the Security Registrar.




SECTION 5.02 PRESERVATION OF INFORMATION; COMMUNICATIONS WITH SECURITYHOLDERS.




     (a) The Trustee shall preserve, in as current a form as is reasonably practicable, all
information as to the names and addresses of the Holders of Securities contained in the most recent
list furnished to it as provided in Section 5.01 and as to the names and addresses of Holders of
Securities received by the Trustee in its capacity as Security Registrar (if acting in such
capacity).



     (b) The Trustee may destroy any list furnished to it as provided in Section 5.01 upon receipt
of a new list so furnished.



     (c) Securityholders may communicate as provided in Section 312(b) of the Trust Indenture Act
with other Securityholders with respect to their rights under this Indenture or under the
Securities.



SECTION 5.03 REPORTS BY THE COMPANY.




     (a) The Company covenants and agrees to file with the Trustee, within 15 days after the
Company has filed the same with the Commission, copies of the annual reports and of the
information, documents and other reports (or copies of such portions of any of the foregoing as the
Commission may from time to time by rules and regulations prescribe) that the Company may be
required to file with the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act;
or, if the Company is not required to file information, documents or reports pursuant to either of
such sections, then to file with the Trustee and the Commission, in accordance with the rules and
regulations prescribed from time to time by the Commission, such of the supplementary and periodic
information, documents and reports that may be required pursuant



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to Section 13 of the Exchange Act, in respect of a security listed and registered on a
national securities exchange as may be prescribed from time to time in such rules and regulations.



     (b) The Company covenants and agrees to file with the Trustee and the Commission, in
accordance with the rules and regulations prescribed from to time by the Commission, such
additional information, documents and reports with respect to compliance by the Company with the
conditions and covenants provided for in this Indenture as may be required from time to time by
such rules and regulations.



     (c) The Company covenants and agrees to transmit by mail, first class postage prepaid, or
reputable overnight delivery service that provides for evidence of receipt, to the Securityholders,
as their names and addresses appear upon the Security Register, within 30 days after the filing
thereof with the Trustee, such summaries of any information, documents and reports required to be
filed by the Company pursuant to subsections (a) and (b) of this Section as may be required by
rules and regulations prescribed from time to time by the Commission.



     (d) Delivery of reports, information and documents to the Trustee under this Section 5.03 is
for informational purposes only and the Trustee’s receipt of the foregoing shall not constitute
constructive notice of any information contained therein or determinable from information contained
therein, including the Company’s compliance with any of its respective covenants hereunder (as to
which the Trustee is entitled to rely exclusively on Officers’ Certificates, except as otherwise
provided herein).



SECTION 5.04 REPORTS BY THE TRUSTEE.




     (a) On or before July 15 in each year in which any of the Securities are Outstanding, the
Trustee shall transmit by mail, first class postage prepaid, to the Securityholders, as their names
and addresses appear upon the Security Register, a brief report dated as of the preceding May 15,
if and to the extent required under Section 313(a) of the Trust Indenture Act.



     (b) The Trustee shall comply with Section 313(b) and 313(c) of the Trust Indenture Act.



     (c) A copy of each such report shall, at the time of such transmission to Securityholders, be
filed by the Trustee with the Company, with each stock exchange upon which any Securities are
listed (if so listed) and also with the Commission. The Company agrees to notify the Trustee when
any Securities become listed on any stock exchange.



ARTICLE VI

REMEDIES OF THE TRUSTEE

AND SECURITYHOLDERS ON EVENT OF DEFAULT




SECTION 6.01 EVENTS OF DEFAULT.




     (a) Whenever used herein with respect to Securities of a particular series, “Event of Default”
means any one or more of the following events that has occurred and is continuing (whatever the
reason for such Event of Default and whether it shall be occasioned by the subordination provisions
of Article XIV or other subordination provisions applicable to a series of Securities or be
voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or
order of any court or any order, rule or regulation of any administrative or governmental body):



          (1) the Company defaults in the payment of any installment of interest upon any of the
Securities of that series, as and when the same shall become due and payable, and continuance of
such default for a period of 90 days; provided, however, that a valid extension of an interest
payment period by the Company in accordance with the terms of any indenture supplemental hereto
shall not constitute a default in the payment of interest for this purpose;




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          (2) the Company defaults in the payment of the principal of (or premium, if any, on) any of
the Securities of that series as and when the same shall become due and payable whether at
maturity, upon redemption, by declaration or otherwise, or in any payment required by any sinking
or analogous fund established with respect to that series; provided, however, that a valid
extension of the maturity of such Securities in accordance with the terms of any indenture
supplemental hereto shall not constitute a default in the payment of principal or premium, if any;




          (3) the Company fails to observe or perform any other of its covenants or agreements with
respect to that series contained in this Indenture or otherwise established with respect to that
series of Securities pursuant to Section 2.01 hereof (other than a covenant or agreement that has
been expressly included in this Indenture solely for the benefit of one or more series of
Securities other than such series) for a period of 90 days after the date on which written notice
of such failure, requiring the same to be remedied and stating that such notice is a “Notice of
Default” hereunder, shall have been given to the Company by the Trustee, by registered or certified
mail, or to the Company and the Trustee by the Holders of at least 25% in principal amount of the
Securities of that series at the time Outstanding;




          (4) the Company pursuant to or within the meaning of any Bankruptcy Law




	 	(i)	 	commences a voluntary case,
	 
	 	(ii)	 	consents to the entry of an order for relief
against it in an involuntary case,
	 
	 	(iii)	 	consents to the appointment of a Custodian of it
or for all or substantially all of its property, or
	 
	 	(iv)	 	makes a general assignment for the benefit of its
creditors; or





          (5) a court of competent jurisdiction enters an order under any Bankruptcy Law that




	 	(i)	 	is for relief against the Company in an involuntary
case,
	 
	 	(ii)	 	appoints a Custodian of the Company for all or
substantially all of its property, or
	 
	 	(iii)	 	orders the liquidation of the Company, and the order
remains unstayed and in effect for 90 days.





     (b) In each and every such case, unless the principal of all the Securities of that 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 that series then Outstanding hereunder, by
notice in writing to the Company (and to the Trustee if given by such Securityholders), may declare
the principal of all the Securities of that series to be due and payable immediately, and upon any
such declaration the same shall become and shall be immediately due and payable, notwithstanding
anything contained in this Indenture or in the Securities of that series or established with
respect to that series pursuant to Section 2.01 to the contrary.



     (c) At any time after the principal of the Securities of that series shall have been so
declared due and payable, and before any judgment or decree for the payment of the moneys due shall
have been obtained or entered as hereinafter provided, the Holders of a majority in aggregate
principal amount of the Securities of that series then Outstanding hereunder, by written notice to
the Company and the Trustee, may rescind and annul such declaration and its consequences if:



          (i) the Company has paid or deposited with the Trustee a sum sufficient to pay all matured
installments of interest upon all the Securities of that series and the principal of (and premium,
if any, on) any and all Securities of that series that shall have become due otherwise than by
acceleration (with interest upon such principal and premium, if any, and, to the extent that such
payment is enforceable under applicable law, upon overdue installments of interest, at the rate per
annum expressed in the




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Securities of that series to the date of such payment or deposit) and the
amount payable to the Trustee under Section 7.07, and




          (ii) any and all Events of Default under the Indenture with respect to such series, other than
the nonpayment of principal on Securities of that series that shall not have become due by their
terms, shall have been remedied or waived as provided in Section 6.06. No such rescission and
annulment shall extend to or shall affect any subsequent default or impair any right consequent
thereon.




     (d) In case the Trustee shall have proceeded to enforce any right with respect to Securities
of that series under this Indenture 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, subject to any determination in such
proceedings, the Company, and the Trustee shall be restored respectively to their former positions
and rights hereunder, and all rights, remedies and powers of the Company and the Trustee shall
continue as though no such proceedings had been taken.



SECTION 6.02 COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY TRUSTEE.




     (a) The Company covenants that



          (i) in case it shall default in the payment of any installment of interest on any of the
Securities of a series, as and when the same shall have become due and payable, and such default
shall have continued for a period of 90 days, or




          (ii) in case it shall default in the payment of the principal of (or premium, if any, on) any
of the Securities of a series when the same shall have become due and payable, whether upon
maturity of the Securities of a series or upon redemption or upon declaration, pursuant to any
sinking or analogous fund established with respect to that series or otherwise, then, upon demand
of the Trustee, the Company will pay to the Trustee, for the benefit of the Holders of the
Securities of that series, the whole amount that then shall have been become due and payable on all
such Securities for principal (and premium, if any) or interest, or both, as the case may be, with
interest upon the overdue principal (and premium, if any) and (to the extent that payment of such
interest is enforceable under applicable law) upon overdue installments of interest at the rate per
annum expressed in the Securities of that series; and, in addition thereto, such further amount as
shall be sufficient to cover the costs and expenses of collection, and the amount payable to the
Trustee under Section 7.07.




     (b) If the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in
its own name and as trustee of an express trust, shall be entitled and empowered to institute any
action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may
prosecute any such action or proceeding to judgment or final decree, and may enforce any such
judgment or final decree against the Company or other obligor upon the Securities of that series
and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the
property of the Company or other obligor upon the Securities of that series, wherever situated.



     (c) In case of any receivership, insolvency, liquidation, bankruptcy, reorganization,
readjustment, arrangement, composition or judicial proceedings affecting the Company, or its
creditors or property, the Trustee shall have power to intervene in such proceedings and take any
action therein that may be permitted by the court and shall (except as may be otherwise provided by
law) be entitled to file such proofs of claim and other papers and documents as may be necessary or
advisable in order to have the
claims of the Trustee and of the Holders of Securities of such series allowed for the entire
amount due and payable by the Company under the Indenture at the date of institution of such
proceedings and for any additional amount that may become due and payable by the Company after such
date, and to collect and receive any moneys or other property payable or deliverable on any such
claim, and to distribute the same after the deduction of the amount payable to the Trustee under
Section 7.07; and any receiver, assignee or



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trustee in bankruptcy or reorganization is hereby
authorized by each of the Holders of Securities of such series to make such payments to the
Trustee, and, in the event that the Trustee shall consent to the making of such payments directly
to such Securityholders, to pay to the Trustee any amount due it under Section 7.07.



     (d) All rights of action and of asserting claims under this Indenture, or under any of the
terms established with respect to Securities of that series, may be enforced by the Trustee without
the possession of any of such Securities, or the production thereof at 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, after
provision for payment to the Trustee of any amounts due under Section 7.07, be for the ratable
benefit of the Holders of the Securities of such series. In case of an Event of Default hereunder,
the Trustee may in its discretion 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 at law or in equity or in bankruptcy or otherwise,
whether for the specific enforcement of any covenant or agreement contained in the 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 contained herein shall
be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any
Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the
Securities of that series or the rights of any Holder thereof or to authorize the Trustee to vote
in respect of the claim of any Securityholder in any such proceeding.



SECTION 6.03 APPLICATION OF MONEYS COLLECTED.




     Any moneys collected by the Trustee pursuant to this Article with respect to a particular
series of Securities and any money or other property distributable in respect of the company’s
obligations under this Indenture after an Event of Default shall be applied in the following order,
at the date or dates fixed by the Trustee and, in case of the distribution of such moneys on
account of principal (or premium, if any) or interest, upon presentation of the Securities of that
series, and notation thereon of the payment, if only partially paid, and upon surrender thereof if
fully paid:



     FIRST: To the payment of costs and expenses of collection and of all amounts payable to the
Trustee (including any predecessor Trustee) under Section 7.07;



     SECOND: To the payment of all Senior Indebtedness of the Company if and to the extent required
by Article XIV or other subordination provisions applicable with respect to such series; and



     THIRD: To the payment of the amounts then due and unpaid upon Securities of such series for
principal (and premium, if any) and interest, in respect of which or for the benefit of which such
money has been collected, ratably, without preference or priority of any kind, according to the
amounts due and payable on such Securities for principal (and premium, if any) and interest,
respectively.



SECTION 6.04 LIMITATION ON SUITS.




     No Holder of any Security of any series shall have any right by virtue or by availing 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



     (1) such Holder previously shall have given to the Trustee written notice of an Event of
Default and of the continuance thereof with respect to the Securities of such series specifying
such Event of Default, as hereinbefore provided;



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     (2) the Holders of not less than 25% in aggregate principal amount of the Securities of such
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;



     (3) such Holder or Holders 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



     (4) 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



     (5) during such 60 day period, the Holders of a majority in principal amount of the Securities
of that series do not give the Trustee a direction inconsistent with the request.



     Notwithstanding anything contained herein to the contrary, the right of any Holder of any
Security to receive payment of the principal of (and premium, if any) and interest on such
Security, as therein provided, on the respective due dates expressed in such Security (or in the
case of redemption, on the redemption date), or to institute suit for the enforcement of any such
payment on or after such respective dates or redemption date, shall not be impaired or affected
without the consent of such Holder and by accepting a Security hereunder it is expressly
understood, intended and covenanted by the taker and Holder of every Security of such series with
every other such taker and Holder and the Trustee, that no one or more Holders of Securities of
such series shall have any right in any manner whatsoever by virtue or by availing 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 or seek 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 the provisions of this Section, each and every Securityholder and the Trustee shall
be entitled to such relief as can be given either at law or in equity.



SECTION 6.05 RIGHTS AND REMEDIES CUMULATIVE; DELAY OR OMISSION NOT WAIVER.




     (a) Except as otherwise provided in Section 2.07, all powers and remedies given by this
Article to the Trustee or to the Securityholders shall, to the extent permitted by law, be deemed
cumulative and not exclusive of any other powers and remedies available to the Trustee or the
Holders of the Securities, by judicial proceedings or otherwise, to enforce the performance or
observance of the covenants and agreements contained in this Indenture or otherwise established
with respect to such Securities.



     (b) No delay or omission of the Trustee or of any Holder of any of the Securities to exercise
any right or power accruing upon any Event of 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 on
acquiescence therein; and, subject to the provisions of Section 6.04, every power and remedy given
by this Article or by law to the Trustee or the Securityholders may be exercised from time to time,
and as often as shall be deemed expedient, by the Trustee or by the Securityholders.



SECTION 6.06 CONTROL BY SECURITYHOLDERS.




     The Holders of a majority in aggregate principal amount of the Securities of any series at the
time Outstanding, determined in accordance with Section 8.01, 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 such series; provided,
however, that such direction shall not
be in conflict with any rule of law or with this Indenture or be unduly prejudicial to the rights
of Holders of Securities of any other series at the time Outstanding determined in accordance with
Section 8.01. Subject to the provisions of Section 7.01, the Trustee shall have the right to
decline to follow any such direction if the Trustee in good faith shall, by a Responsible Officer
or Officers of the Trustee, determine that the



 - 23 - 









 







proceeding so directed would involve the Trustee in
personal liability. The Holders of a majority in aggregate principal amount of the Securities of
any series at the time Outstanding affected thereby, determined in accordance with Section 8.01,
may on behalf of the holders of all of the Securities of such series waive any past default in the
performance of any of the covenants contained herein or established pursuant to Section 2.01 with
respect to such series and its consequences, except a default in the payment of the principal of
(or premium, if any) or interest on, any of the Securities of that series as and when the same
shall become due by the terms of such Securities otherwise than by acceleration (unless such
default has been cured and a sum sufficient to pay all matured installments of interest and
principal and any premium has been deposited with the Trustee (in accordance with Section 6.01(c))
or in respect of a covenant or provision hereof which under Article IX cannot be modified or
amended without the consent of the Holder of each Outstanding Security affected. Upon any such
waiver, the default covered thereby shall be deemed to be cured for all purposes of this Indenture
and 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.



SECTION 6.07 UNDERTAKING TO PAY COSTS.




     All parties to this Indenture agree, and each Holder of any Securities by such Holder’s
acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in
any suit for the enforcement of any right or remedy under this Indenture, or in any suit against
the Trustee for any action taken or omitted by it as Trustee, the filing by any party litigant in
such suit of an undertaking to pay the costs of such suit, and that such court may in its
discretion assess reasonable costs, including reasonable attorneys’ fees, against any party
litigant in such suit, having due regard to the merits and good faith of the claims or defenses
made by such party litigant; but the provisions of this Section shall not apply to any suit
instituted by the Trustee, to any suit instituted by any Securityholder, or group of
Securityholders, holding more than 10% in aggregate principal amount of the Outstanding Securities
of any series, or to any suit instituted by any Securityholder for the enforcement of the payment
of the principal of (or premium, if any) or interest on any Security of such series, on or after
the respective due dates expressed in such Security or established pursuant to this Indenture.



ARTICLE VII

CONCERNING THE TRUSTEE




SECTION 7.01 CERTAIN DUTIES AND RESPONSIBILITIES OF TRUSTEE.




     (a) The Trustee, prior to the occurrence of an Event of Default with respect to the Securities
of a series and after the curing of all Events of Default with respect to the Securities of that
series that may have occurred, shall undertake to perform with respect to the Securities of such
series such duties and only such duties as are specifically set forth in this Indenture, and no
implied covenants shall be read into this Indenture against the Trustee. In case an Event of
Default with respect to the Securities of a series has occurred (that has not been cured or
waived), the Trustee shall exercise with respect to Securities of that series such of the rights
and powers vested in it by this Indenture, and use the same degree of care and skill in their
exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own
affairs.



     (b) No provision of this Indenture shall be construed to relieve the Trustee from liability
for its own negligent action, its own negligent failure to act, or its own willful misconduct,
except that:



          (i) prior to the occurrence of an Event of Default with respect to the Securities of a series
and after the curing or waiving of all such Events of Default with respect to that series that may
have
occurred: the duties and obligations of the Trustee shall with respect to the Securities of such
series be determined solely by the express provisions of this Indenture, and the Trustee shall not
be liable with respect to the Securities of such series except for the performance of such duties
and obligations as are specifically set forth in this Indenture, and no implied covenants or
obligations shall be read into this




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Indenture against the Trustee; and in the absence of bad faith
on the part of the Trustee, the Trustee may with respect to the Securities of such series
conclusively rely, as to the truth of the statements and the correctness of the opinions expressed
therein, upon any certificates or opinions furnished to the Trustee and conforming to the
requirements of this Indenture; but in the case of any such certificates or opinions that by any
provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be
under a duty to examine the same to determine whether or not they conform to the requirement of
this Indenture;




          (ii) the Trustee shall not be liable for any error of judgment made in good faith by a
Responsible Officer or Responsible Officers of the Trustee, unless it shall be proved that the
Trustee, was negligent in ascertaining the pertinent facts;




          (iii) the Trustee shall not be liable with respect to any action taken or omitted to be taken
by it in good faith in accordance with the direction of the Holders of not less than a majority in
principal amount of the Securities of any series at the time Outstanding relating to the time,
method and place of conducting any proceeding for any remedy available to the Trustee, or
exercising any trust or power conferred upon the Trustee under this Indenture with respect to the
Securities of that series; and




          (iv) this Subsection shall not be construed to limit the effect of Subsection (c) of this
Section 7.01.




     (c) None of the provisions contained in this Indenture shall require the Trustee to expend or
risk its own funds or otherwise incur any financial liability in the performance of any of its
duties hereunder, or in the exercise of any of its rights or powers, it shall have reasonable
grounds for believing that repayment of such funds or adequate indemnity against such risk or
liability is not reasonably assured to it.



     (d) The Trustee shall not be deemed to have notice of or be charged with Knowledge with any
Default or Event of Default with respect to any series of Securities, except Events of Default
under Section 6.01(a)(1) or (a)(2), if and so long as it is acting as paying agent with respect to
the Securities of such series, unless written notice of such Default Event or Event of Default, as
the case may be, is received by the Trustee at the Corporate Trust Office of the Trustee from the
Company or any Holder of Securities of such series, and such notice references the Securities and
this Indenture.



     (e) Whether or not expressly so provided, every provision of this Indenture relating to the
conduct or affecting the liability of or affording protection to the Trustee shall be subject to
the provisions of this Section 7.01.



SECTION 7.02 NOTICE OF DEFAULTS.




     If a Default occurs hereunder with respect to Securities of any series and is known to a
Responsible Officer of the Trustee, the Trustee shall give the Holders of Securities of such series
notice of such Default as and to the extent provided by the Trust Indenture Act; provided, however,
that in the case of any Default of the character specified in clause (3) of Section 6.01(a) with
respect to Securities of such series, no such notice to Holders shall be given until at least
30 days after the occurrence thereof.



SECTION 7.03 CERTAIN RIGHTS OF TRUSTEE.




     Except as otherwise provided in Section 7.01:



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



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     (b) Any request, direction, order or demand of the Company mentioned herein shall be
sufficiently evidenced by a Board Resolution or an instrument signed in the name of the Company, by
the President or any Vice President and by the Secretary or an Assistant Secretary or the Treasurer
or an Assistant Treasurer thereof (unless other evidence in respect thereof is specifically
prescribed herein);



     (c) The Trustee may consult with counsel and the advice of such counsel or any Opinion of
Counsel shall be full and complete authorization and protection in respect of any action taken or
suffered or omitted 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 Securityholders, pursuant to
the provisions of this Indenture, unless such Securityholders shall have offered to the Trustee
reasonable security or indemnity against the costs, expenses and liabilities that may be incurred
therein or thereby; nothing contained herein shall, however, relieve the Trustee of the obligation,
upon the occurrence of an Event of Default with respect to a series of the Securities (that has not
been cured or waived) to exercise with respect to Securities of that series such of the rights and
powers vested in it by this Indenture, and to use the same degree of care and skill in their
exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own
affairs;



     (e) The Trustee shall not be liable for any action taken or omitted to be taken 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) 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,
order, approval, bond, security, or other papers or documents; 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.



     (h) whenever in the administration of this Indenture the Trustee shall deem it desirable that
a matter be proved or established prior to taking, suffering or omitting any action hereunder, the
Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith
on its part, conclusively rely upon an Officers’ Certificate;



     (i) the rights, privileges, protections, immunities and benefits given to the Trustee,
including, without limitation, its right to be indemnified, are extended to, and shall be
enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and
other Person employed to act hereunder;



     (j) the Trustee may request that the Company deliver an Officers’ Certificate setting forth
the names of individuals and/or titles of officers authorized at such time to take specified
actions pursuant to this Indenture;



     (k) the permissive right of the Trustee to take or refrain from taking any actions enumerated
in this Indenture shall not be construed as a duty;



     (l) anything in this Indenture notwithstanding, in no event shall the Trustee be liable for
special, indirect, punitive or consequential loss or damage of any kind whatsoever (including but
not limited to loss
of profit), even if the Company or Guarantor has been advised as to the likelihood of such
loss or damage and regardless of the form of action;



     (m) the Trustee shall not be responsible or liable for any failure or delay in the performance
of its obligations under this Indenture arising out of or caused, directly or indirectly, by
circumstances beyond its



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reasonable control, including, without limitation, acts of God;
earthquakes; fire; flood; terrorism; wars and other military disturbances; sabotage; epidemics;
riots; interruptions; loss or malfunctions of utilities, computer (hardware or software) or
communication services; accidents; labor disputes; acts of civil or military authority and
governmental action.



SECTION 7.04 TRUSTEE NOT RESPONSIBLE FOR RECITALS OR ISSUANCE OR SECURITIES.




     (a) The recitals contained herein and in the Securities shall be taken as the statements of
the Company, and the Trustee assumes no responsibility for the correctness of the same.



     (b) The Trustee makes no representations as to the validity or sufficiency of this Indenture
or of the Securities.



     (c) 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, or for the use or application of any moneys
paid over by the Trustee in accordance with any provision of this Indenture or established pursuant
to Section 2.01, or for the use or application of any moneys received by any paying agent other
than the Trustee.



SECTION 7.05 MAY HOLD SECURITIES.




     The Trustee or any paying agent or Security Registrar, in its individual or any other
capacity, may become the owner or pledgee of Securities with the same rights it would have if it
were not Trustee, paying agent or Security Registrar.



SECTION 7.06 MONEYS HELD IN TRUST.




     Subject to the provisions of Section 11.05, all moneys received by the Trustee shall, until
used or applied as herein provided, be held in trust for the purposes for which they were received,
but need not be segregated from other funds except to the extent required by law. The Trustee shall
be under no liability for interest on any moneys received by it hereunder except such as it may
agree with the Company to pay thereon.



SECTION 7.07 COMPENSATION AND REIMBURSEMENT.




     (a) The Company covenants and agrees to pay to the Trustee, and the Trustee shall be entitled
to, such reasonable compensation (which shall not be limited by any provision of law in regard to
the compensation of a trustee of an express trust), as the Company, and the Trustee may from time
to time agree in writing, for all services rendered by it in the execution of the trusts hereby
created and in the exercise and performance of any of the powers and duties hereunder of the
Trustee, and, except as otherwise expressly provided herein, 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 gross negligence
or willful misconduct. The Company also covenants to indemnify the Trustee (and its officers,
agents, directors and employees) for, and to hold it harmless against, any loss, damage, claims
liability or expense incurred without gross negligence or willful misconduct on the part of the
Trustee and arising out of or in connection with the acceptance or
administration of this trust, including the costs and expenses of defending itself against any
claim whether asserted by the Company, any Securityholder or any other Person or liability
including the compensation and expense of counsel in connection with the exercise or performance of
any of its powers or duties hereunder.



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     (b) The obligations of the Company under this Section to compensate and indemnify the Trustee
and to pay or reimburse the Trustee for expenses, disbursements and advances 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.



     (c) To the extent permitted by law, any compensation due or expense incurred by the Trustee
after a default specified in or pursuant to Section 6.01 is intended to constitute an expense of
administration under any then applicable bankruptcy or insolvency law. “Trustee” for purposes of
this Section 7.07 shall include any predecessor Trustee but the negligence or bad faith of any
Trustee shall not affect the rights of any other Trustee under this Section 7.07.



     (d) The provisions of this Section 7.07 shall survive the satisfaction and discharge of this
Indenture, the termination of this Indenture for any reason, or the earlier resignation or removal
of the Trustee and shall apply with equal force and effect to the Trustee in its capacity as
Authenticating Agent, Security Registrar or paying agent.



SECTION 7.08 RELIANCE ON OFFICERS’ CERTIFICATE.




     Except as otherwise provided in Section 7.01, whenever 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 or omitting to take 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 warranty to the
Trustee for any action taken, suffered or omitted to be taken by it under the provisions of this
Indenture upon the faith thereof.



SECTION 7.09 DISQUALIFICATION; CONFLICTING INTERESTS.




     If the Trustee has or shall acquire any “conflicting interest” within the meaning of Section
310(b) of the Trust Indenture Act, the Trustee and the Company shall in all respects comply with
the provisions of Section 310(b) of the Trust Indenture Act, subject to the penultimate paragraph
thereof. For purposes of Section 310(b)(i) of the Trust Indenture Act and to the extent permitted
thereby, the Trustee, in its capacity as trustee in respect of the Securities of any series, shall
not be deemed to have a conflicting interest arising from its capacity as trustee in respect of the
Securities of any other series.



SECTION 7.10 CORPORATE TRUSTEE REQUIRED; ELIGIBILITY.




     There shall at all times be a Trustee with respect to the Securities issued hereunder which
shall at all times be a corporation organized and doing business under the laws of the United
States of America or any State or Territory thereof or of the District of Columbia, or a
corporation or other Person permitted to act as trustee by the Commission, authorized under such
laws to exercise corporate trust powers, having a combined capital and surplus of at least fifty
million U.S. dollars ($50,000,000), and subject to supervision or examination by federal, state,
territorial, or District of Columbia authority. 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. The Company may not, nor may any Person directly or indirectly
controlling,
controlled by, or under common control with the Company, serve as Trustee. In case at any time the
Trustee shall cease to be eligible in accordance with the provisions of this Section, the Trustee
shall resign immediately in the manner and with the effect specified in Section 7.11.



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SECTION 7.11 RESIGNATION AND REMOVAL; APPOINTMENT OF SUCCESSOR.




     (a) The Trustee or any successor hereafter appointed, may at any time resign with respect to
the Securities of one or more series by giving written notice thereof to the Company and by
transmitting notice of resignation by mail, first class postage prepaid, to the Securityholders of
such series, as their names and addresses appear upon the Security Register. Upon receiving such
notice of resignation, the Company shall promptly appoint a successor trustee with respect to
Securities of such series by written instrument, in duplicate, 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 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 with
respect to Securities of such series, or any Securityholder of that series who has been a bona fide
Holder of a Security or Securities for at least six months may on behalf of himself and all others
similarly situated, petition any such court for the appointment of a successor trustee. Such 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 one of the following shall occur:



          (i) the Trustee shall fail to comply with the provisions of Section 7.09 after written request
therefor by the Company or by any Securityholder who has been a bona fide Holder of a Security or
Securities for at least six months; or




          (ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 7.10
and shall fail to resign after written request therefor by the Company or by any such
Securityholder; or




          (iii) the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or
insolvent, or commence a voluntary bankruptcy proceeding, or a receiver of the Trustee or of its
property shall be appointed or consented to, 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 all Securities and
appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of
Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy
to the successor trustee, or, unless, in the case of a failure to comply with Section 7.09, the
Trustee’s duty to resign is stayed as provided in the penultimate paragraph of Section 310(b) of
the Trust Indenture Act, any Securityholder who has been a bona fide Holder of a Security or
Securities for at least six months may, on behalf of that Holder and all others similarly situated,
petition any court of competent jurisdiction for the removal of the Trustee and the appointment of
a successor trustee. Such court may thereupon after such notice, if any, as it may deem proper and
prescribe, remove the Trustee and appoint a successor trustee.





     (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 such series by so notifying
the Trustee and the Company and may appoint a successor Trustee for such series with the consent of
the Company.



     (d) Any resignation or removal of the Trustee and appointment of a successor trustee with
respect to the Securities of a series pursuant to any of the provisions of this Section shall
become effective upon acceptance of appointment by the successor trustee as provided in
Section 7.12.



     (e) Any successor trustee appointed pursuant to this Section may be appointed with respect to
the Securities of one or more series or all of such series, and at any time there shall be only one
Trustee with respect to the Securities of any particular series.



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SECTION 7.12 ACCEPTANCE OF APPOINTMENT BY SUCCESSOR.




     (a) In case of the appointment hereunder of a successor trustee with respect to all
Securities, every such successor trustee so appointed shall execute, acknowledge and deliver to the
Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the
resignation or removal of the retiring Trustee shall become effective and such successor trustee,
without any further act, deed or conveyance, shall become vested with all the rights, powers,
trusts and duties of the retiring Trustee; but, on the request of the Company or the successor
trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an
instrument transferring to such successor trustee all the rights, powers, and trusts of the
retiring Trustee and shall duly assign, transfer and deliver to such successor trustee all property
and money held by such retiring Trustee hereunder, subject nevertheless to the lien provided for in
Section 7.07.



     (b) In 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 retiring Trustee and each successor trustee
with respect to the Securities of one or more series shall execute and deliver an indenture
supplemental hereto wherein each successor trustee shall accept such appointment and which



          (i) shall contain such provisions as shall be necessary or desirable to transfer and confirm
to, and to vest in, each successor trustee all the rights, powers, trusts and duties of the
retiring Trustee with respect to the Securities of that or those series to which the appointment of
such successor trustee relates,




          (ii) shall contain such provisions as shall be deemed necessary or desirable to confirm that
all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of
that or those series as to which the retiring Trustee is not retiring shall continue to be vested
in the retiring Trustee, and




          (iii) 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, 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 and that no Trustee shall be responsible for any act or failure to act on the part of
any other Trustee hereunder; and upon the execution and delivery of such supplemental indenture the
resignation or removal of the retiring Trustee shall become effective to the extent provided
therein, such retiring Trustee shall with respect to the Securities of that or those series to
which the appointment of such successor trustee relates have no further responsibility for the
exercise of rights and powers or for the performance of the duties and obligations vested in the
Trustee under this Indenture, and each such successor trustee, without any further act, deed or
conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring
Trustee with respect to the Securities of that or those series to which the appointment of such
successor trustee relates; but, on request of the Company or any successor trustee, such retiring
Trustee shall duly assign, transfer and deliver to such successor trustee, to the extent
contemplated by such supplemental indenture, the property and money held by such retiring Trustee
hereunder with respect to the Securities of that or those series to which the appointment of such
successor trustee relates, subject nevertheless to the lien provided for in Section 7.07.




     (c) Upon request of any such successor trustee, the Company shall execute any and all
instruments for more fully and certainly vesting in and confirming to such successor trustee all
such rights, powers and trusts referred to in paragraph (a) or (b) of this Section, as the case may
be.



     (d) No successor trustee shall accept its appointment unless at the time of such acceptance
such successor trustee shall be qualified and eligible under this Article.



     (e) Upon acceptance of appointment by a successor trustee as provided in this Section, the
Company shall transmit notice of the succession of such trustee hereunder by mail, first class
postage



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prepaid, to the Securityholders, as their names and addresses appear upon the Security
Register. If the Company fails to transmit such notice within ten days after acceptance of
appointment by the successor trustee, the successor trustee shall cause such notice to be
transmitted at the expense of the Company.



SECTION 7.13 MERGER, CONVERSION, CONSOLIDATION OR SUCCESSION TO BUSINESS.




     Any Person into which the Trustee may be merged or converted or with which it may be
consolidated, or any Person resulting from any merger, conversion or consolidation to which the
Trustee shall be a party, or any Person succeeding to all or substantially all of the corporate
trust business of the Trustee, shall be the successor of the Trustee hereunder, provided that such
Person shall be qualified under the provisions of Section 7.09 and eligible under the provisions of
Section 7.10, without the execution or filing of any paper or any further act on the part of any of
the parties hereto, anything herein to the contrary notwithstanding. In case any Securities shall
have been authenticated, but not delivered, by the Trustee then in office, any successor by merger,
conversion or consolidation to such authenticating Trustee may adopt such authentication and
deliver the Securities so authenticated with the same effect as if such successor Trustee had
itself authenticated such Securities.



SECTION 7.14 PREFERENTIAL COLLECTION OF CLAIMS AGAINST THE COMPANY.




     The Trustee shall comply with Section 311(a) of the Trust Indenture Act, excluding any
creditor relationship described in Section 311(b) of the Trust Indenture Act. A Trustee who has
resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the
extent included therein.



ARTICLE VIII

CONCERNING THE SECURITYHOLDERS




SECTION 8.01 EVIDENCE OF ACTION BY SECURITYHOLDERS.




     Whenever in this Indenture it is provided that the Holders of a majority or specified
percentage in aggregate principal amount of the Securities of a particular series 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 majority or specified percentage of that series have joined therein may be evidenced by any
instrument or any number of instruments of similar tenor executed by such Holders of Securities of
that series in Person or by agent or proxy appointed in writing. If the Company shall solicit from
the Securityholders of any series any request, demand, authorization, direction, notice, consent,
waiver or other action, the Company may, at its option, as evidenced by an Officers’ Certificate,
fix in advance a record date for such series for the determination of Securityholders entitled to
give such request, demand, authorization, direction, notice, consent, waiver or other action, but
the Company shall have no obligation to do so. If such a record date is fixed, such request,
demand, authorization, direction, notice, consent, waiver or other action may be given before or
after the record date, but only the Securityholders of record at the close of business on the
record date shall be deemed to be Securityholders for the purposes of determining whether
Securityholders of the requisite proportion of Outstanding Securities of that series have
authorized or agreed or consented to such request, demand, authorization, direction, notice,
consent, waiver or other action, and for that purpose the Outstanding Securities of that series
shall be computed as of the record date; provided, however, that no such authorization, agreement
or consent by such Securityholders on the record date shall be deemed effective unless it shall
become effective pursuant to the provisions of this Indenture not later than six months after the
record date.



SECTION 8.02 PROOF OF EXECUTION BY SECURITYHOLDERS.




     Subject to the provisions of Section 7.01, proof of the execution of any instrument by a
Securityholder (such proof will not require notarization) 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:



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     (a) The fact and date of the execution by any such Person of any instrument may be proved in
any reasonable manner acceptable to the Trustee.



     (b) The ownership of Securities shall be proved by the Security Register of such Securities or
by a certificate of the Security Registrar thereof.



     (c) The Trustee may require such additional proof of any matter referred to in this Section as
it shall deem necessary.



SECTION 8.03 WHO MAY BE DEEMED OWNERS.




     Prior to the due presentment for registration of transfer of any Security, the Company, the
Trustee, any paying agent and any Security Registrar may deem and treat the Person in whose name
such Security shall be registered upon the books of the Company as the absolute owner of such
Security (whether or not such Security shall be overdue and notwithstanding any notice of ownership
or writing thereon made by anyone other than the Security Registrar) for the purpose of receiving
payment of or on account of the principal of (and premium, if any) and (subject to Section 2.03)
interest on such Security and for all other purposes; and neither the Company nor the Trustee nor
any paying agent nor any Security Registrar shall be affected by any notice to the contrary.



SECTION 8.04 CERTAIN SECURITIES OWNED BY COMPANY DISREGARDED.




     In determining whether the Holders of the requisite aggregate principal amount of Securities
of a particular series have concurred in any direction, consent or waiver under this Indenture, the
Securities of that series that are owned by the Company or any other obligor on the Securities of
that series or by any Person directly or indirectly controlling or controlled by or under common
control with the Company or any other obligor on the Securities of that series shall be disregarded
and deemed not to be Outstanding for the purpose of any such determination, except that for the
purpose of determining whether the Trustee shall be protected in relying on any such direction,
consent or waiver, only Securities of such series that a Responsible Officer of the Trustee
actually knows are so owned shall be so disregarded. The Securities so owned that 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 the pledgee’s right so to act with respect to 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. 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 8.05 ACTIONS BINDING ON FUTURE SECURITYHOLDERS.




     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 majority or percentage in aggregate
principal amount of the Securities of a particular series specified in this Indenture in connection
with such action, any Holder of a Security of that series that 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, 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, on registration of
transfer thereof or in place thereof, irrespective of whether or not any notation in regard
thereto is made upon such Security. Any action taken by the Holders of the majority or
percentage in aggregate principal amount of the Securities of a particular series 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 of that series.



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ARTICLE IX

SUPPLEMENTAL INDENTURES




SECTION 9.01 SUPPLEMENTAL INDENTURES WITHOUT THE CONSENT OF SECURITYHOLDERS.




     In addition to any supplemental indenture otherwise authorized by this Indenture, the Company
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 then in
effect), without the consent of the Securityholders, for one or more of the following purposes:



          (1) to cure any ambiguity, defect, or inconsistency herein, in the Securities of any series;




          (2) to comply with Article X;




          (3) to provide for uncertificated Securities in addition to or in place of certificated
Securities;




          (4) to add to the covenants of the Company for the benefit of the Holders of all or any series
of Securities (and if such covenants are to be for the benefit of less than all series of
Securities, stating that such covenants are expressly being included solely for the benefit of such
series) or to surrender any right or power herein conferred upon the Company or to add any
additional Events of Default for the benefit of the Holders of all or any series of Securities (and
if such additional Events of Default are to be for the benefit of less than all series of
Securities, stating that such additional Events of Default are expressly being included solely for
the benefit of such series);




          (5) to add to, delete from, or revise the conditions, limitations, and restrictions on the
authorized amount, terms, or purposes of issue, authentication, and delivery of Securities (prior
to the issuance thereof), as herein set forth;




          (6) to make any change that does not adversely affect the rights of any Securityholder in any
material respect;




          (7) to provide for the issuance of and establish the form and terms and conditions of the
Securities of any series as provided in Section 2.01, to establish the form of any certifications
required to be furnished pursuant to the terms of this Indenture or any series of Securities, or to
add to the rights of the Holders of any series of Securities; or




          (8) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee
with respect to the Securities of one or more series and 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 7.12.




     The Trustee is hereby authorized to join with the Company in the execution of any such
supplemental indenture, and to make any further appropriate agreements and stipulations that may be
therein contained, but the Trustee shall not be obligated to enter into any such supplemental
indenture that affects the Trustee’s own rights, duties or immunities under this Indenture or
otherwise.



     Any supplemental indenture authorized by the provisions of this Section may be executed by the
Company and the Trustee without the consent of the Holders of any of the Securities at the time
Outstanding, notwithstanding any of the provisions of Section 9.02.



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SECTION 9.02 SUPPLEMENTAL INDENTURES WITH CONSENT OF SECURITYHOLDERS.




     With the consent (evidenced as provided in Section 8.01) of the Holders of not less than a
majority in aggregate principal amount of the Securities of each series affected by such
supplemental indenture or indentures at the time Outstanding, 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
then in effect) for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of this Indenture or of any supplemental indenture or of
modifying in any manner not covered by Section 9.01 the rights of the Holders of the Securities of
such series under this Indenture; provided, however, that no such supplemental indenture shall,
without the consent of the Holders of each Security then Outstanding and affected thereby:



          (1) change the maturity of the principal of, or any installment of principal of or interest
on, any Security, or reduce the principal amount thereof or the rate of interest thereon or any
premium payable upon the redemption thereof, or reduce the amount of the principal of an Original
Issue Discount Security or any other Security which would be due and payable upon a declaration of
acceleration of the maturity thereof pursuant to Section 6.01 or change the coin or currency in
which any Security or any premium or interest thereon is payable, or impair the right to institute
suit for the enforcement of any such payment on or after the maturity thereof (or, in the case of
redemption, on or after the redemption date); or




          (2) reduce the percentage in principal amount of the Outstanding Securities of any series, the
consent of whose Holders is required for any such supplemental indenture, or the consent of whose
Holders is required for any waiver of certain defaults hereunder and their consequences provided
for in this Indenture;




          (3) modify any of the provisions of this Section or Section 6.06 relating to waivers of
default, except to increase any such percentage or to provide that certain other provisions of this
Indenture cannot be modified or waived without the consent of the Holder of each Outstanding
Security affected thereby; provided, however, that this clause shall not be deemed to require the
consent of any Holder with respect to changes in the references to “the Trustee” and concomitant
changes in this Section, or the deletion of this proviso, in accordance with the requirements of
Sections 7.12 and 9.01(8); or




          (4) modify the provisions of this Indenture with respect to the subordination of such Security
in a manner adverse to the holder thereof.




     A supplemental indenture which changes or eliminates any covenant or other provision of this
Indenture which has expressly been included solely for the benefit of one or more particular series
of Securities, or which modifies the rights of the Holders of Securities of such series with
respect to such covenant or other provision, 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 Securityholders of any series affected thereby 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.



SECTION 9.03 EFFECT OF SUPPLEMENTAL INDENTURES.




     Upon the execution of any supplemental indenture pursuant to the provisions of this Article or
of Section 10.01, this Indenture shall, with respect to such series, be and be deemed to be
modified and amended in accordance therewith and the respective rights, limitations of rights,
obligations, duties and immunities under this Indenture of the Trustee, the Company and the Holders
of Securities of the series affected thereby 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 9.04 SECURITIES AFFECTED BY SUPPLEMENTAL INDENTURES.




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     Securities of any series, affected by a supplemental indenture, authenticated and delivered
after the execution of such supplemental indenture pursuant to the provisions of this Article or of
Section 10.01, may bear a notation in form approved by the Company, provided such form meets the
requirements of any exchange upon which such series may be listed, as to any matter provided for in
such supplemental indenture. If the Company shall so determine, new Securities of that series so
modified as to conform, in the opinion of the Board of Directors of the Company, 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 that series
then Outstanding.



SECTION 9.05 EXECUTION OF SUPPLEMENTAL INDENTURES.




     Upon the request of the Company, accompanied by its Board Resolutions authorizing the
execution of any supplemental indenture, and upon the filing with the Trustee of evidence of any
requisite consents of Securityholders required to consent thereto 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. The Trustee, subject to the provisions of Section 7.01, shall be entitled
to receive an Opinion of Counsel as conclusive evidence that any supplemental indenture executed
pursuant to this Article is authorized or permitted by, and conforms to, the terms of this Article
and that it is proper for the Trustee under the provisions of this Article to join in the execution
thereof.



     Promptly after the execution by the Company and the Trustee of any supplemental indenture
pursuant to the provisions of this Section, the Company shall transmit by mail, first class postage
prepaid, a notice, setting forth in general terms the substance of such supplemental indenture, to
the Securityholders of all series affected thereby as their names and addresses appear upon the
Security Register. Any failure of the Company to mail such notice, or any defect therein, shall
not, however, in any way impair or affect the validity of any such supplemental indenture.



ARTICLE X

SUCCESSOR ENTITY




SECTION 10.01 COMPANY MAY CONSOLIDATE, ETC.




     Nothing contained in this Indenture or in any of the Securities shall prevent any
consolidation or merger of the Company with or into any other Person (whether or not affiliated
with the Company) or successive consolidations or mergers in which the Company or its successor or
successors shall be a party or parties, or shall prevent any sale, conveyance, transfer or other
disposition of the property of the Company or its successor or successors as an entirety, or
substantially as an entirety, to any other Person (whether or not affiliated with the Company or
its successor or successors) authorized to acquire and operate the same; provided, however, the
Company hereby covenants and agrees that, upon any such consolidation or merger (in each case, if
the Company is not the survivor of such transaction), sale, conveyance, transfer or other
disposition, the due and punctual payment of the principal of (and premium, if any) and interest on
all of the Securities of all series in accordance with the terms of each series, according to their
tenor and the due and punctual performance and observance of all the covenants and conditions of
this Indenture or established with respect to each series of Securities pursuant to Section 2.01 to
be kept or performed by the Company shall be expressly assumed, by supplemental indenture (which
shall conform to the provisions of the Trust Indenture Act, as then in effect) satisfactory in form
to the
Trustee executed and delivered to the Trustee by the entity formed by such consolidation, or
into which the Company shall have been merged, or by the entity which shall have acquired such
property.



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SECTION 10.02 SUCCESSOR ENTITY SUBSTITUTED.




     (a) In case of any such consolidation, merger, sale, conveyance, transfer or other disposition
and upon the assumption by any successor entity by supplemental indenture, executed and delivered
to the Trustee of the due and punctual payment of the principal of (and premium, if any) and
interest on all of the Securities of all series Outstanding and the due and punctual performance of
all of the covenants and conditions of this Indenture or established with respect to each series of
the Securities pursuant to Section 2.01 to be performed by the Company, such successor entity shall
succeed to and be substituted for the Company with the same effect as if it had been named as the
Company herein, and thereupon the predecessor corporation, except in the case of a lease, shall be
relieved of all obligations and covenants under this Indenture and the Securities.



     (b) In case of any such consolidation, merger, sale, conveyance, transfer or other disposition
such changes in phraseology and form (but not in substance) may be made in the Securities
thereafter to be issued as may be appropriate.



     (c) Nothing contained in this Article shall require any action by the Company in the case of a
consolidation or merger of any Person into the Company where the Company is the survivor of such
transaction, or the acquisition by the Company, by purchase or otherwise, of all or any part of the
property of any other Person (whether or not affiliated with the Company).



SECTION 10.03 EVIDENCE OF CONSOLIDATION, ETC. TO TRUSTEE.




     The Trustee, subject to the provisions of Section 7.01, shall be entitled to receive an
Opinion of Counsel and an Officers’ Certificate as conclusive evidence that any such consolidation,
merger, sale, conveyance, transfer or other disposition, and any such assumption, comply with the
provisions of this Article.



ARTICLE XI

SATISFACTION AND DISCHARGE; DEFEASANCE




SECTION 11.01 SATISFACTION AND DISCHARGE.




     This Indenture will be discharged and will cease to be of further effect with respect to a
series of Securities (except as to any surviving rights of registration of transfer or exchange of
such series of Securities herein expressly provided for), and the Trustee, at the expense of the
Company, shall execute proper instruments acknowledging satisfaction and discharge of this
Indenture with respect to such series, when:



          (1) either (A) all Securities of that series theretofore authenticated and delivered (other
than (i) any Securities that shall have been destroyed, lost or stolen and that shall have been
replaced or paid as provided in Section 2.07 and (ii) Securities for whose payment money or
noncallable Governmental Obligations have theretofore been deposited in trust or segregated and
held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as
provided in Section 11.05) have been delivered to the Trustee for cancellation; or (B) all
Securities of such series not theretofore delivered to the Trustee for cancellation (i) have become
due and payable, or (ii) will by their terms become due and payable within one year, or (iii) 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 or cause to be deposited with the
Trustee as trust funds in trust for the purpose (x) moneys in an amount, or (y) noncallable
Governmental Obligations the scheduled principal of and interest on which in accordance with their
terms will provide, not later than the due date of any payment, money in an amount, or (z) a
combination thereof, sufficient, in the case of (y) or (z), in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification thereof
delivered to the Trustee, to pay and discharge, at maturity or upon redemption, all Securities of
that series not theretofore delivered to the



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Trustee for cancellation, including principal (and
premium, if any) and interest due or to become due to such date of maturity or date fixed for
redemption, as the case may be;




          (2) the Company has paid or caused to be paid all other sums payable hereunder with respect to
such series by the Company; and




          (3) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all the conditions precedent herein provided for relating to the
satisfaction and discharge of this Indenture with respect to such series of Securities have been
complied with. Notwithstanding the satisfaction and discharge of this Indenture with respect to a
series of Securities, the obligations of the Trustee under Section 7.07 and, if money shall have
been deposited with the Trustee pursuant to subclause (y) of clause (1) of this Section, the
obligations of the Trustee under Sections 11.03 and 11.05 shall survive.




SECTION 11.02 DEFEASANCE.




     The Company may, at its option and at any time (including notwithstanding the exercise by the
Company of a Covenant Defeasance (as defined herein)), elect to have its obligations discharged
with respect to a series of the Securities (“Legal Defeasance”). Such Legal Defeasance means that
the Company shall be deemed to have paid and discharged the entire indebtedness represented by such
series of Securities, except for (a) the rights of Holders to receive payments in respect of the
principal of (and premium, if any) and interest on the Securities when such payments are due solely
from the trust fund described in this Section, (b) the Company’s obligations with respect to such
series of Securities concerning issuing temporary Securities, registration of transfer or exchange
of such series of Securities, mutilated, destroyed, lost or stolen Securities of such series and
the maintenance of an office or agency for payments, (c) the rights, powers, trust, duties and
immunities of the Trustee and the Company’s obligations in connection therewith and (d) the Legal
Defeasance provisions of this Indenture. In addition, the Company may, at its option and at any
time, elect to have the obligations of the Company released with respect to covenants provided with
respect to such series of Securities under Section 2.01(16), 9.01(4) and 9.01(7) of this Indenture
(“Covenant Defeasance”) and thereafter any omission to comply with such obligations shall not
constitute a Default or Event of Default with respect to such series of Securities. In the event of
Covenant Defeasance, those events described under Section 6.01(a) with respect to the foregoing
covenants will no longer constitute an Event of Default with respect to such series of Securities.



     In order to exercise either Legal Defeasance or Covenant Defeasance:



          (1) the Company must irrevocably deposit with the Trustee, in trust, for the benefit of the
Holders of such series, (A) moneys in an amount, or (B) noncallable Governmental Obligations the
scheduled principal of and interest on which in accordance with their terms will provide, not later
than the due date of any payment, money in an amount, or (C) a combination thereof, sufficient, in
the case of (B) or (C), in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the Trustee, to pay and
discharge, at maturity or upon redemption, the principal of (and premium, if any) and interest on
such series of Securities on the stated date for payment thereof or on the applicable redemption
date, as the case may be;




          (2) in the case of Legal Defeasance, the Company shall have delivered to the Trustee an
Opinion of Counsel confirming that (A) the Company has received from, or there has been published
by, the Internal Revenue Service a ruling or (B) since the date of this Indenture, there has been a
change in the applicable federal income tax law, in either case to the effect that, and based
thereon such Opinion of Counsel shall confirm that, the Holders of such series of Securities will
not recognize income, gain or loss for federal income tax purposes as a result of such Legal
Defeasance and will be subject to federal income
tax on the same amounts, in the same manner and at the same times as would have been the case
if such Legal Defeasance had not occurred;




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          (3) in the case of Covenant Defeasance, the Company shall have delivered to the Trustee an
Opinion of Counsel confirming that the Holders of such series of Securities will not recognize
income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance and
will be subject to federal income tax on the same amounts, in the same manner and at the same times
as would have been the case if such Covenant Defeasance had not occurred;




          (4) no Default or Event of Default shall have occurred and be continuing on the date of such
deposit or insofar as Events of Default under clauses (4) and (5) of Section 6.01(a) with respect
to the Securities of such series are concerned, at any time in the period ending on the 91st day
after the date of deposit;




          (5) the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent provided for or relating to the Legal
Defeasance or the Covenant Defeasance, as the case may be, have been complied with; and




          (6) if such series of Securities are to be redeemed prior to final maturity (other than from
mandatory sinking fund payments or analogous payments), notice of such redemption shall have been
duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee shall have
been made.




SECTION 11.03 DEPOSITED MONEYS TO BE HELD IN TRUST.




     All moneys or Governmental Obligations deposited with the Trustee pursuant to Sections 11.01
or 11.02 shall be held in trust and shall be available for payment as due, either directly or
through any paying agent (including the Company acting as its own paying agent), to the Holders of
the particular series of Securities for the payment or redemption of which such moneys or
Governmental Obligations have been deposited with the Trustee. Funds held pursuant to this Section
with respect to any series of Securities shall not be subject to the claims of the holders of
Senior Indebtedness with respect to such series, provided, that at the time of the deposit of such
funds with the Trustee under this Article, no event had occurred that would, under the
subordination provisions related to such series, require that any payment to be made to the holders
of such Securities be paid or paid over to the holders of such Senior Indebtedness.



SECTION 11.04 PAYMENT OF MONEYS HELD BY PAYING AGENTS.




     In connection with the satisfaction and discharge of this Indenture all moneys or Governmental
Obligations then held by any paying agent under the provisions of this Indenture shall, upon 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 or Governmental Obligations.



SECTION 11.05 REPAYMENT TO COMPANY.




     Any moneys or Governmental Obligations deposited with any paying agent or the Trustee, or then
held by the Company, in trust for payment of principal of (or premium, if any) or interest on the
Securities of a particular series that are not applied but remain unclaimed by the Holders of such
Securities for at least two years after the date upon which the principal of (and premium, if any)
or interest on such Securities shall have respectively become due and payable, shall be repaid to
the Company on May 31 of each year or (if then held by the Company) shall be discharged from such
trust; and thereupon the paying agent and the Trustee shall be released from all further liability
with respect to such moneys or Governmental Obligations, and the Holder of any of the Securities
entitled to receive such payment shall thereafter, as an unsecured general creditor, look only to
the Company for the payment thereof.



ARTICLE XII

IMMUNITY OF INCORPORATORS,

STOCKHOLDERS, OFFICERS AND DIRECTORS




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SECTION 12.01 NO RECOURSE.




     No recourse under or upon any obligation, covenant or agreement of this Indenture, or of any
Security, or for any claim based thereon or otherwise in respect thereof, shall be had against any
incorporator, stockholder, officer or director, past, present or future as such, of the Company or
of any predecessor or successor corporation, either directly or through the Company or any such
predecessor or successor corporation, whether by virtue of any constitution, statute or rule of
law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood
that this Indenture and the obligations issued hereunder are solely corporate obligations, and that
no such personal liability whatever shall attach to, or is or shall be incurred by, the
incorporators, stockholders, officers or directors as such, of the Company or of any predecessor or
successor corporation, or any of them, because of the creation of the indebtedness hereby
authorized, or under or by reason of the obligations, covenants or agreements contained in this
Indenture or in any of the Securities or implied therefrom; and that any and all such personal
liability of every name and nature, either at common law or in equity or by constitution or
statute, of, and any and all such rights and claims against, every such incorporator, stockholder,
officer or director as such, because of the creation of the indebtedness hereby authorized, or
under or by reason of the obligations, covenants or agreements contained in this Indenture or in
any of the Securities or implied therefrom, are hereby expressly waived and released as a condition
of, and as a consideration for, the execution of this Indenture and the issuance of such
Securities.



ARTICLE XIII

MISCELLANEOUS PROVISIONS




SECTION 13.01 EFFECT ON SUCCESSORS AND ASSIGNS.




     All the covenants, stipulations, promises and agreements in this Indenture contained by or on
behalf of the Company shall bind its successors and assigns, whether so expressed or not.



SECTION 13.02 ACTIONS BY SUCCESSOR.




     Any act or proceeding by any provision of this Indenture authorized or required to be done or
performed by any board, committee or officer of the Company shall and may be done and performed
with like force and effect by the corresponding board, committee or officer of any corporation that
shall at the time be the lawful successor of the Company.



SECTION 13.03 SURRENDER OF COMPANY POWERS.




     The Company by instrument in writing executed by authority of its Board of Directors and
delivered to the Trustee may surrender any of the powers reserved to the Company, and thereupon
such power so surrendered shall terminate both as to the Company and as to any successor
corporation.



SECTION 13.04 NOTICES.




     Except as otherwise expressly provided herein, any notice or demand that by any provision of
this Indenture is required or permitted to be given or served by the Trustee or by the Holders of
Securities to or on the Company may be given or served by being deposited first class postage
prepaid in a post-office letterbox addressed (until another address is filed in writing by the
Company with the Trustee), as follows: Attn: General Counsel, American Commercial Lines Inc., 1701
E. Market Street, Jeffersonville, IN 47130. Any notice, election, request or demand by the Company
or any Securityholder to or upon the Trustee shall
be deemed to have been sufficiently given or made, for all purposes, if given or made in
writing at the Corporate Trust Office of the Trustee.



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SECTION 13.05 GOVERNING LAW; WAIVER OF TRIAL BY JURY.




     This Indenture and each Security shall be deemed to be a contract made under the internal laws
of the State of New York, and for all purposes shall be construed in accordance with the laws of
said State.



EACH PARTY HERETO, AND EACH HOLDER OF A SECURITY BY ACCEPTANCE THEREOF, HEREBY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF
ANY LITIGATION RELATING TO THE TRUSTEE DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN
CONNECTION WITH THIS INDENTURE



SECTION 13.06 TREATMENT OF SECURITIES AS DEBT.




     It is intended that the Securities will be treated as indebtedness and not as equity for
federal income tax purposes. The provisions of this Indenture shall be interpreted to further this
intention.



SECTION 13.07 COMPLIANCE CERTIFICATES AND OPINIONS.




     (a) Upon any application or demand by the Company to the Trustee to take any action under any
of the provisions of this Indenture, the Company shall furnish to the Trustee an Officers’
Certificate stating that all conditions precedent provided for in this Indenture relating to the
proposed action have been complied with and an Opinion of Counsel stating that in the opinion of
such counsel all such conditions precedent have been complied with, except that in the case of any
such application or demand as to which the furnishing of such documents is specifically required by
any provision of this Indenture relating to such particular application or demand, no additional
certificate or opinion need be furnished.



     (b) Each certificate or opinion provided for in this Indenture and delivered to the Trustee
with respect to compliance with a condition or covenant in this Indenture shall include



          (i) a statement that the Person making such certificate or opinion has read such covenant or
condition;




          (ii) a brief statement as to the nature and scope of the examination or investigation upon
which the statements or opinions contained in such certificate or opinion are based;




          (iii) a statement that, in the opinion of such Person, he has made such examination or
investigation as is necessary to enable him to express an informed opinion as to whether or not
such covenant or condition has been complied with; and




          (iv) a statement as to whether or not, in the opinion of such Person, such condition or
covenant has been complied with.




SECTION 13.08 PAYMENTS ON BUSINESS DAYS.




     Except
as provided pursuant to Section 2.01 by or pursuant to a Board Resolution, and as set
forth in an Officers’ Certificate, or established in one or more indentures supplemental to this
Indenture, in any case where the date of maturity of interest or principal of any Security or the
date of redemption of any Security shall not be a Business Day, then payment of interest or
principal (and premium, if any) may be made on the next succeeding Business Day with the same force
and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue
for the period after such nominal date.



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SECTION 13.09 CONFLICT WITH TRUST INDENTURE ACT.




     If and to the extent that any provision of this Indenture limits, qualifies or conflicts with
the duties imposed by Sections 310 to 317, inclusive, of the Trust Indenture Act, such imposed
duties shall control. If any provision of this Indenture modifies or excludes any provision of the
Trust Indenture Act which may be so modified or excluded, the latter provision shall be deemed to
apply to this Indenture as so modified or to be excluded, as the case may be.



SECTION 13.10 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.



SECTION 13.11 SEPARABILITY.




     In case any one or more of the provisions contained in this Indenture or in the Securities of
any series shall for any reason be held to be invalid, illegal or unenforceable in any respect,
such invalidity, illegality or unenforceability shall not affect any other provisions of this
Indenture or of such Securities, but this Indenture and such Securities shall be construed as if
such invalid or illegal or unenforceable provision had never been contained herein or therein.



SECTION 13.12 ASSIGNMENT.




     The Company will have the right at all times to assign any of its rights or obligations under
this Indenture to a direct or indirect wholly-owned Subsidiary of the Company, provided that, in
the event of any such assignment, the Company, will remain liable for all such obligations. Subject
to the foregoing, the Indenture is binding upon and inures to the benefit of the parties thereto
and their respective successors and assigns. This Indenture may not otherwise be assigned by the
parties thereto.



SECTION 13.13 FORCE MAJEURE.




     In no event shall the Trustee be responsible or liable for any failure or delay in the
performance of its obligations hereunder arising out of or caused by, directly or indirectly,
forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts
of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of
God, and interruptions, loss or malfunctions of utilities, communications or computer (software and
hardware) services; it being understood that the Trustee shall use reasonable efforts which are
consistent with accepted practices in the banking industry to resume performance as soon as
practicable under the circumstances.



ARTICLE XIV

SUBORDINATION OF SECURITIES




SECTION 14.01 SUBORDINATION TERMS.




     The payment by the Company of the principal of, premium, if any, and interest on any series of
Securities issued hereunder shall be subordinated to the extent set forth in an indenture
supplemental hereto relating to such securities.



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     IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed all as
of the day and year first above written.



	 	 	 	 	 	 	 
	 	 	AMERICAN COMMERCIAL LINES INC.
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:	 	 

	 	 
	 
	 	 	 	 

	 	 
	 	 	THE BANK OF NEW YORK TRUST COMPANY, 
N.A., as
Trustee
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:	 	 

	 	 
	 

	 	 	 	 

	 	 







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