Indenture



 EXHIBIT 4.1 
  

  
 HIBERNIA CORPORATION, 
  
 5.35% SUBORDINATED
NOTES DUE MAY 1, 2014 
  

  
 INDENTURE 
  
 Dated as of April 26, 2004 
  

  
 The Bank of New York Trust Company, N.A., 
 Trustee 
  








 TABLE OF CONTENTS 
  

					
	 	 	 	  	Page


	ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE	  	 
			
	 SECTION 1.1.
	 	 Definitions
	  	1
	 SECTION 1.2.
	 	 Other Definitions
	  	5
	 SECTION 1.3.
	 	 Incorporation by Reference of Trust Indenture Act
	  	6
	 SECTION 1.4.
	 	 Rules of Construction
	  	6
	 SECTION 1.5.
	 	 One Class of Notes
	  	6
		
	ARTICLE II THE NOTES	  	 
			
	 SECTION 2.1.
	 	 Form and Dating
	  	6
	 SECTION 2.2.
	 	 Execution and Authentication
	  	7
	 SECTION 2.3.
	 	 Registrar and Paying Agent
	  	8
	 SECTION 2.4.
	 	 Paying Agent to Hold Money in Trust
	  	8
	 SECTION 2.5.
	 	 Noteholder Lists
	  	8
	 SECTION 2.6.
	 	 Transfer and Exchange
	  	9
	 SECTION 2.7.
	 	 Replacement Notes
	  	18
	 SECTION 2.8.
	 	 Outstanding Notes
	  	18
	 SECTION 2.9.
	 	 Treasury Notes
	  	18
	 SECTION 2.10.
	 	 Temporary Notes
	  	18
	 SECTION 2.11.
	 	 Cancellation
	  	19
	 SECTION 2.12.
	 	 Defaulted Interest
	  	19
	 SECTION 2.13.
	 	 CUSIP Numbers
	  	19
		
	ARTICLE III [REMOVED AND RESERVED]	  	 
		
	ARTICLE IV COVENANTS	  	 
			
	 SECTION 4.1.
	 	 Payment of Notes
	  	20
	 SECTION 4.2.
	 	 Maintenance of Office or Agency
	  	20
	 SECTION 4.3.
	 	 Corporate Existence
	  	20
	 SECTION 4.4.
	 	 SEC Reports
	  	21
	 SECTION 4.5.
	 	 Compliance Certificate
	  	21
	 SECTION 4.6.
	 	 Further Instruments and Acts
	  	21
		
	ARTICLE V CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE	  	 
			
	 SECTION 5.1.
	 	 When Company May Merge or Transfer Assets
	  	21
		
	ARTICLE VI DEFAULTS AND REMEDIES	  	 
			
	 SECTION 6.1.
	 	 Events of Default
	  	22
	 SECTION 6.2.
	 	 Acceleration
	  	23
	 SECTION 6.3.
	 	 Other Remedies
	  	23
	 SECTION 6.4.
	 	 Waiver of Past Defaults
	  	24
	 SECTION 6.5.
	 	 Control by Majority
	  	24
	 SECTION 6.6.
	 	 Limitation on Suits
	  	24
	 SECTION 6.7.
	 	 Rights of Holders to Receive Payment
	  	24
	 SECTION 6.8.
	 	 Collection Suit by Trustee
	  	24
	 SECTION 6.9.
	 	 Trustee May File Proofs of Claim
	  	25
	 SECTION 6.10.
	 	 Priorities
	  	25
	 SECTION 6.11.
	 	 Undertaking for Costs
	  	25
	 SECTION 6.12.
	 	 Waiver of Stay or Extension Laws
	  	25
	 SECTION 6.13.
	 	 Rights and Remedies Cumulative
	  	25
	 SECTION 6.14.
	 	 Delay or Omission Not Waiver
	  	26

  

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	 	 	 	  	Page


	ARTICLE VII TRUSTEE	  	 
			
	 SECTION 7.1.
	 	 Duties of Trustee
	  	26
	 SECTION 7.2.
	 	 Rights of Trustee
	  	27
	 SECTION 7.3.
	 	 Individual Rights of Trustee
	  	27
	 SECTION 7.4.
	 	 Money Held in Trust
	  	28
	 SECTION 7.5.
	 	 Trustee’s Disclaimer
	  	28
	 SECTION 7.6.
	 	 Notice of Defaults
	  	28
	 SECTION 7.7.
	 	 Reports by Trustee to Holders
	  	28
	 SECTION 7.8.
	 	 Compensation and Indemnity
	  	28
	 SECTION 7.9.
	 	 Replacement of Trustee
	  	29
	 SECTION 7.10.
	 	 Successor Trustee by Merger
	  	29
	 SECTION 7.11.
	 	 Eligibility; Disqualification
	  	30
	 SECTION 7.12.
	 	 Preferential Collection of Claims Against Company
	  	30
		
	ARTICLE VIII DISCHARGE OF INDENTURE; DEFEASANCE	  	 
			
	 SECTION 8.1.
	 	 Discharge of Liability on Notes; Defeasance
	  	30
	 SECTION 8.2.
	 	 Conditions to Defeasance
	  	31
	 SECTION 8.3.
	 	 Application of Trust Money
	  	31
	 SECTION 8.4.
	 	 Repayment to Company
	  	32
	 SECTION 8.5.
	 	 Indemnity for Government Obligations
	  	32
	 SECTION 8.6.
	 	 Reinstatement
	  	32
		
	ARTICLE IX AMENDMENTS	  	 
			
	 SECTION 9.1.
	 	 Without Consent of Holders
	  	32
	 SECTION 9.2.
	 	 With Consent of Holders
	  	33
	 SECTION 9.3.
	 	 Compliance with Trust Indenture Act
	  	33
	 SECTION 9.4.
	 	 Revocation and Effect of Consents and Waivers
	  	33
	 SECTION 9.5.
	 	 Notation on or Exchange of Notes
	  	34
	 SECTION 9.6.
	 	 Trustee to Sign Amendments
	  	34
	 SECTION 9.7.
	 	 Payment for Consent
	  	34
		
	ARTICLE X SUBORDINATION OF NOTES	  	 
			
	 SECTION 10.1.
	 	 Notes Subordinate to Senior Indebtedness.
	  	34
	 SECTION 10.2.
	 	 Payment Over of Proceeds Upon Dissolution, Etc.
	  	34
	 SECTION 10.3.
	 	 Prior Payment to Senior Indebtedness Upon Acceleration of Notes.
	  	35
	 SECTION 10.4.
	 	 No Payment When Senior Indebtedness in Default.
	  	36
	 SECTION 10.5.
	 	 Payment Permitted in Certain Situations.
	  	36
	 SECTION 10.6.
	 	 Subrogation to Rights of Holders of Senior Indebtedness.
	  	36
	 SECTION 10.7.
	 	 Provisions Solely to Define Relative Rights.
	  	36
	 SECTION 10.8.
	 	 Trustee to Effectuate Subordination.
	  	37
	 SECTION 10.9.
	 	 No Waiver of Subordination Provisions.
	  	37
	 SECTION 10.10.
	 	 Notice to Trustee.
	  	37
	 SECTION 10.11.
	 	 Reliance on Judicial Order or Certificate of Liquidating Agent.
	  	38
	 SECTION 10.12.
	 	 Trustee Not Fiduciary for Holders of Senior Indebtedness or Entitled Persons.
	  	38
	 SECTION 10.13.
	 	 Rights of Trustee as Holder of Senior Indebtedness or Entitled Person; Preservation of Trustee’s Rights.
	  	38
	 SECTION 10.14.
	 	 Article Applicable to Paying Agents.
	  	39
	 SECTION 10.15.
	 	 Notes to Rank Pari Passu with All Other Notes; Payment of Proceeds in Certain Cases.
	  	39

  

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	 	 	 	  	Page


	ARTICLE XI MISCELLANEOUS	  	 
			
	 SECTION 11.1.
	 	 Trust Indenture Act Controls
	  	40
	 SECTION 11.2.
	 	 Notices
	  	40
	 SECTION 11.3.
	 	 Communication by Holders with Other Holders
	  	41
	 SECTION 11.4.
	 	 Certificate and Opinion as to Conditions Precedent
	  	41
	 SECTION 11.5.
	 	 Statements Required in Certificate or Opinion
	  	41
	 SECTION 11.6.
	 	 When Notes Disregarded
	  	41
	 SECTION 11.7.
	 	 Rules by Trustee, Paying Agent and Registrar
	  	42
	 SECTION 11.8.
	 	 Legal Holidays
	  	42
	 SECTION 11.9.
	 	 Governing Law
	  	42
	 SECTION 11.10.
	 	 No Recourse Against Others
	  	42
	 SECTION 11.11.
	 	 Successors
	  	42
	 SECTION 11.12.
	 	 Multiple Originals
	  	42
	 SECTION 11.13.
	 	 Qualification of Indenture
	  	42
	 SECTION 11.14.
	 	 Table of Contents; Cross-Reference Sheet; Headings
	  	42
	 SECTION 11.15.
	 	 Severability
	  	42

  
 Exhibit A - Form of Note 

Exhibit B - Form of Certificate of Transfer 
 Exhibit C - Form of
Certificate of Exchange 
  

 iii 








 CROSS-REFERENCE TABLE* 
  

			
	 Trust Indenture Act Section

	  	Indenture Section


	 310(a)(1)
	  	7.9, 7.10
	       (a)(2)
	  	N.A.
	       (a)(3)
	  	N.A.
	       (a)(4)
	  	N.A.
	       (a)(5)
	  	N.A.
	       (b)
	  	7.10
	       (b)(1)
	  	7.10
	       (c)
	  	N.A.
	 311(a)
	  	7.11
	       (b)
	  	7.11
	       (c)
	  	N.A.
	 312(a)
	  	N.A.
	       (b)
	  	11.3
	       (c)
	  	11.3
	 313(a)
	  	7.6
	       (b)
	  	7.6
	       (b)(1)
	  	N.A.
	       (b)(2)
	  	N.A.
	       (c)
	  	N.A.
	       (d)
	  	N.A.
	 314(a)(1)
	  	N.A.
	       (a)(2)
	  	N.A.
	       (a)(3)
	  	N.A.
	       (a)(4)
	  	4.5.
	       (b)
	  	N.A.
	       (c)(1)
	  	N.A.
	       (c)(2)
	  	N.A.
	       (c)(3)
	  	N.A.
	       (e)
	  	N.A.
	       (f)
	  	N.A.
	 315(a)
	  	N.A.
	       (b)
	  	N.A.
	       (c)
	  	N.A.
	       (d)
	  	N.A.
	       (e)
	  	N.A.
	 316(a)
	  	N.A.
	       (a)(1)
	  	N.A.
	       (a)(2)
	  	N.A.
	       (b)
	  	N.A.
	       (c)
	  	N.A.
	 317(a)(1)
	  	N.A.
	       (a)(2)
	  	N.A.
	       (b)
	  	N.A.
	 318(a)
	  	N.A.
	       (b)
	  	N.A.
	       (c)
	  	N.A.


 N.A. means not applicable. 

	*	This Cross-Reference Table is not part of the Indenture. 

  

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 INDENTURE, dated as of April 26, 2004, among Hibernia Corporation, a Louisiana corporation (the
“Company”), and The Bank of New York Trust Company, N.A., a national banking association organized under the law of the United States, as trustee (the “Trustee”). 
  
 Each party agrees as follows for the benefit of the other parties hereto, for the benefit of holders of Senior Indebtedness
(as defined herein) and, subject to Section 10.15, Entitled Persons (as defined herein) in respect of Other Financial Obligations (as defined herein) and for the equal and ratable benefit of the Holders of the Company’s $100,000,000 aggregate
principal amount 5.35% Subordinated Notes due May 1, 2014 (the “Initial Notes”) and, if and when issued in exchange for Initial Notes as provided in the Registration Rights Agreement (as defined herein), the Company’ 5.35%
Subordinated Notes due May 1, 2014 (the “Exchange Notes”) and, if and when issued pursuant to a private exchange for Initial Notes, the Company’s 5.35% Subordinated Notes due May 1, 2014 (the “Private Exchange Notes”, and
together with the Initial Notes, any Additional Notes (as defined herein) actually issued, and the Exchange Notes, the “Notes”): 
  
 ARTICLE 1. 
  
 DEFINITIONS AND INCORPORATION BY REFERENCE 
  
 Section 1.01 Definitions 
  
 “Additional Notes” means Notes (other than the Initial Notes, the Exchange Notes and the Private Exchange Notes) issued under this Indenture in accordance with Section 2.1 hereof. 
  
 “Affiliate” of any specified Person means any other Person,
directly or indirectly, controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any Person means the power to direct the
management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the
foregoing. 
  
 “Applicable Procedures” means,
with respect to any transfer or exchange of or for beneficial interests in any Global Note, the rules and procedures of the Depositary, Euroclear and Clearstream that apply to such transfer or exchange. 
  
 “Board of Directors” means the Board of Directors of the
Company or any committee thereof duly authorized to act on behalf 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. 
  
 “Business
Day” means a day other than a Saturday, Sunday or other day on which banking institutions in the State of New York or the State of Louisiana are authorized or required by law or executive order to close. 
  
 “Capital Stock” of any Person means any and all shares,
interests, rights to purchase, warrants, options, participations or other equivalents of or interests in (however designated) equity of such Person, including, without limitation, membership interests in limited liability companies and any preferred
stock, but excluding any debt securities convertible into such equity. 
  
 “Clearstream” means Clearstream Banking, S.A. 
  
 “Company” means Hibernia Corporation, a Louisiana corporation, until a successor replaces it in accordance with the applicable provisions of this Indenture, and thereafter, means such successor. 
  

 1 








 “Corporate Trust Office of the Trustee” means the designated office of the Trustee at
which any particular time its corporate trust business as it relates to this Indenture shall be administrated, which office at the date of execution of this indenture is located at 10161 Centurion Parkway, 2nd Floor, Jacksonville, Florida, 32256. 
  
 “Custodian” means any custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official. 
  
 “Default” means any event which is, or after notice or
passage of time or both would be, an Event of Default. 
  
 “Definitive Note” means a certificated Note registered in the name of the Holder thereof and issued in accordance with Section 2.6 hereof in the form of Exhibit A hereto, except that such Note shall not bear the Global Note
Legend and shall not have the “Schedule of Exchanges of Interests in the Global Note” attached thereto. 
  
 “Depositary” means, with respect to the Notes issuable or issued in whole or in part in global form, the Person specified in Section 2.3
hereof as the Depositary with respect to the Notes, and any and all successors thereto appointed as depositary hereunder and having become such pursuant to the applicable provision of this Indenture. 
  
 “Distribution Compliance Period” means the 40-day period
commencing on the date Notes are first issued under this Indenture. 
  
 “Entitled Persons” means any Person entitled to payment pursuant to the terms of “Other Financial Obligations.” 
  
 “Euroclear” means Euroclear Bank S.A./N.V., as operator of the Euroclear system. 
  
 “Exchange Act” means the Securities Exchange Act of 1934, as
amended. 
  
 “Exchange Notes” means the debt
securities of the Company issued pursuant to the Indenture in exchange for, and in an aggregate principal amount at maturity equal to, the Initial Notes, in compliance with the terms of the Registration Rights Agreement. 
  
 “Exchange Offer Registration Statement” has the meaning set
forth in the Registration Rights Agreement. 
  
 “GAAP” means generally accepted accounting principles in the United States of America as in effect as of the Issue Date, including those set forth in (i) the opinions and pronouncements of the Accounting Principles Board of
the American Institute of Certified Public Accountants; (ii) statements and pronouncements of the Financial Accounting Standards Board; (iii) such other statements by such other entity as approved by a significant segment of the accounting
profession; and (iv) the rules and regulations of the SEC governing the inclusion of financial statements (including pro forma financial statements) in periodic reports required to be filed pursuant to Section 13 of the Exchange Act, including
opinions and pronouncements in staff accounting bulletins and similar written statements from the accounting staff of the SEC. 
  
 “Global Notes” means, individually and collectively, each of the Restricted Global Notes and the Unrestricted Global Notes. 

 
 “Global Note Legend” means the legend set forth in
Section 2.6(g)(ii), which is required to be placed on all Global Notes issued under this Indenture. 
  

 2 








 “Holder” or “Noteholder” means the Person in whose name a Note is
registered on the Registrar’s books. 
  
 “Indenture” means this Indenture, as amended or supplemented from time to time. 
  
 “Indirect Participant” means a Person who holds a beneficial interest in a Global Note through a Participant. 
  
 “Issue Date” means the date on which the Notes are
originally issued. 
  
 “Legal Holiday” has the
meaning ascribed in Section 11.8. 
  
 “Letter of
Transmittal” means the letter of transmittal to be prepared by the Company and sent to all Holders of the Notes for use by such Holders in connection with the Registered Exchange Offer. 
  
 “Offering Circular” means the final offering circular of the
Company relating to the offering of the Notes. 
  
 “Officer” means the Chairman of the Board, the President, the Chief Executive Officer, any Vice President, the Chief Financial Officer, the Treasurer, the Controller or the Secretary of the Company. 
  
 “Officers’ Certificate” means a certificate that meets
the requirements of Section 11.5 signed by any two Officers of the Company. 
  
 “Opinion of Counsel” means a written opinion that meets the requirements of Section 11.5 from legal counsel who is reasonably acceptable to the Trustee. The counsel may be an employee of or counsel to
the Company. 
  
 “Other Financial Obligations”
means, whether outstanding on the date of this Indenture or thereafter created, incurred or assumed, all obligations of the Company to make payment pursuant to the terms of financial instruments such as (i) securities contracts and foreign currency
exchange contracts, (ii) derivative instruments, such as swap agreements (including interest rate and currency and foreign exchange rate swap agreements), cap agreements, floor agreements, collar agreements, interest rate agreements, foreign
exchange rate agreements, options, commodity futures contracts and commodity options contracts and (iii) financial instruments similar to those set forth in (i) or (ii) above; provided, however, that Other Financial Obligations shall not
include (A) obligations on account of Senior Indebtedness and (B) obligations on account of indebtedness for money borrowed ranking pari passu with or subordinate to the Notes. 
  
 “Participant” means, with respect to the Depositary,
Euroclear or Clearstream, a Person who has an account with the Depositary, Euroclear or Clearstream, respectively (and, with respect to The Depository Trust Company, shall include Euroclear and Clearstream). 
  
 “Person” means any individual, corporation, partnership,
joint venture, limited liability company, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. 
  
 “principal” of a Note means the principal of the Note plus
the premium, if any, payable on the Note which is due or overdue or is to become due at the relevant time. 
  
 “Private Exchange” means the offer by the Company, pursuant to the Registration Rights Agreement, to the Initial Purchasers to issue and
deliver to each Initial Purchaser, in exchange for the Initial Notes held by the Initial Purchaser as part of its initial distribution, a like aggregate principal amount at maturity of Private Exchange Notes. 
  

 3 








 “Private Exchange Notes” means the 5.35% Subordinated Notes due May 1, 2014, if any, to
be issued pursuant to this Indenture to the Initial Purchasers in a Private Exchange. 
  
 “Private Placement Legend” means the legend set forth in Section 2.6(g)(i)(A) to be placed on all Notes issued under this Indenture except where otherwise permitted by the provisions of this
Indenture. 
  
 “Registered Exchange Offer” has
the meaning set forth in the Registration Rights Agreement. 
  
 “Registration Rights Agreement” means the Registration Rights Agreement among the Company, Credit Suisse First Boston LLC, Keefe, Bruyette & Woods, Inc. and Hibernia Southcoast Capital, Inc. related to the Notes.

  
 “Regulation S” means Regulation S promulgated
under the Securities Act. 
  
 “Restricted Definitive
Note” means a Definitive Note bearing the Private Placement Legend. 
  
 “Restricted Global Note” means a global Note in the form of Exhibit A attached hereto that bears the Global Note Legend and the Private Placement Legend and that is deposited with or on behalf of and
registered in the name of the Depositary. 
  
 “Rule
144” means Rule 144 promulgated under the Securities Act. 
  
 “Rule 144A” means Rule 144A promulgated under the Securities Act. 
  
 “Rule 903” means Rule 903 promulgated under the Securities Act. 
  
 “Rule 904” means Rule 904 promulgated under the Securities Act. 
  
 “SEC” means the U.S. Securities and Exchange Commission. 
  
 “Securities Act” means the Securities Act of 1933, as
amended. 
  
 “Senior Indebtedness” means the
principal of and interest on (a) all indebtedness of the Company (including indebtedness of others guaranteed by the Company), other than the Notes, which is (i) for money borrowed or (ii) evidenced by a note or similar instrument given in
connection with the acquisition of any businesses, properties or assets of any kind, and (b) amendments, renewals, extensions, modifications or refundings of any such indebtedness, unless in any case in the instrument creating or evidencing any such
indebtedness or pursuant to which the same is outstanding it is provided that such indebtedness is not superior in right of payment to the Notes or is to rank pari passu with or subordinate to the Notes. 
  
 “Shelf Registration Statement” means the Shelf Registration
Statement as defined in the Registration Rights Agreement. 
  
 “Stated Maturity” means, with respect to any security, the date specified in such security as the fixed date on which the payment of principal of such security is due and payable, including pursuant to any mandatory
redemption provision (but excluding any provision providing for the repurchase of such security at the option of the holder thereof upon the happening of any contingency beyond the control of the issuer unless such contingency has occurred).

  
 “Subsidiary” means, with respect to any
Person, any corporation, association, partnership or other business entity of which more than 50% of the total voting power of shares of Voting Stock is at the time owned or controlled, directly or indirectly, by: 
  
 (i) such Person; 
  

 4 








 (ii) such Person and one or more Subsidiaries of such Person; or 
  
 (iii) one or more Subsidiaries of such Person. 

 
 For purposes of this definition, “Voting Stock” of a Person means all
classes of capital stock or other interests (including partnership interests) of such Person then outstanding and normally entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers, or trustee
thereof. 
  
 “TIA” means the Trust Indenture Act
of 1939 (15 U.S.C. Sections 77aaa-77bbbb) as in effect on the date of this Indenture. 
  
 “Trustee” means the party named as such in this Indenture until a successor replaces it and, thereafter, means such successor. 
  
 “Trust Officer” means, when used with respect to the Trustee, any officer within the corporate trust
department of the Trustee, including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the
Persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred because of such person’s knowledge of and familiarity with the particular subject and who shall have direct responsibility for the
administration of this Indenture. 
  
 “Uniform Commercial
Code” means the New York Uniform Commercial Code as in effect from time to time. 
  
 “Unrestricted Definitive Note” means one or more Definitive Notes that do not bear and are not required to bear the Private Placement Legend. 
  
 “Unrestricted Global Note” means a permanent global Note in
the form of Exhibit A attached hereto that bears the Global Note Legend but not the Private Placement Legend and that is deposited with or on behalf of and registered in the name of the Depositary. 
  
 “U.S. Government Obligations” means direct obligations (or
certificates representing an ownership interest in such obligations) of the United States of America (including any agency or instrumentality thereof) for the payment of which the full faith and credit of the United States of America is pledged and
which are not callable or redeemable at the issuer’s option. 
  
 “U.S. Person” means a U.S. person as defined in Rule 902(k) under the Securities Act. 
  
 Section 1.02 Other Definitions 
  

				
	 Term

	  	 Defined in
 Section

	 
	 “Authenticating Agent”
	  	2.2	 
	 “Authentication Order”
	  	2.2	 
	 “Bankruptcy Law”
	  	6.1	 
	 “covenant defeasance option”
	  	8.1	(b)
	 “Excess Proceeds”
	  	14.15	(c)
	 “Event of Default”
	  	6.1	 
	 “legal defeasance option”
	  	8.1	(b)
	 “Notice of Default”
	  	6.1	 
	 “Paying Agent”
	  	2.3	 
	 “Registrar”
	  	2.3	 
	 “Successor Company”
	  	5.1	 

  

 5 








 Section 1.03 Incorporation by Reference of Trust Indenture Act 
  
 The mandatory provisions of the TIA are incorporated by reference in and
made a part of this Indenture. The following TIA terms have the following meanings: 
  
 “Commission” means the SEC. 
  
 “indenture securities” means the Notes. 
  
 “indenture security holder” means a Holder. 
  
 “indenture to be qualified” means this Indenture. 
  
 “indenture trustee” or “institutional trustee” means the Trustee. 
  
 “obligor” on the indenture securities means the Company and any other obligor on the indenture securities.

  
 All other TIA terms used in this Indenture that are defined by
the TIA, defined by TIA reference to another statute or defined by SEC rule have the meanings assigned to them by such definitions. 
  
 Section 1.04 Rules of Construction 
  
 Unless the context otherwise requires: 
  
 (1) a term has the meaning assigned to it; 
  
 (2) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 
  
 (3) “or” is not exclusive; 
  
 (4) “including” means including without
limitation; 
  
 (5) words in the singular include
the plural and words in the plural include the singular; 
  
 (6) except as otherwise expressly provided, all references to the date the Notes were originally issued shall refer to the date the Initial Notes were originally issued. 
  
 Section 1.05 One Class of Notes. The Initial Notes, the Additional Notes, the Private
Exchange Notes and the Exchange Notes shall vote and consent together on all matters as one class and none of the Initial Notes, the Additional Notes, the Private Exchange Notes or the Exchange Notes shall have the right to vote or consent as a
separate class on any matter. 
  
 ARTICLE 2. 
  
 THE NOTES 
  
 Section 2.01 Form and Dating 
  
 (a) General. 
  
 The Notes will initially be issued in an aggregate principal amount of $100,000,000, except for Notes authenticated and delivered upon registration of
transfer of, or in exchange for, or in lieu of, other Notes pursuant to Section 2.6, 2.7, 2.10, or 9.5. The Company may create and issue Additional Notes that will rank equally with 

  

 6 








 
the Initial Notes and otherwise similar in all respects so that the Additional Notes shall be consolidated and form a single series with the Initial Notes.
The Trustee shall authenticate Additional Notes upon receipt of an Authentication Order and an Officers’ Certificate and Opinion of Counsel, both meeting the requirements of Section 11.5, subject to Section 2.2, specifying the amount of
Additional Notes to be authenticated. 
  
 The Company may issue
Exchange Notes or Private Exchange Notes pursuant to a Registered Exchange Offer or a Private Exchange and a Board Resolution, subject to Section 2.2, included in an Officers’ Certificate and an Opinion of Counsel both meeting the requirements
of Section 11.5 delivered to the Trustee, in authorized denominations in exchange for a like principal amount of Initial Notes. Upon any such exchange, any Initial Notes and Additional Notes exchanged for Exchange Notes or Private Exchange Notes
shall be canceled in accordance with Section 2.11 and shall no longer be deemed outstanding for any purpose. 
  
 The Notes and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit A hereto. The Notes may have notations,
legends or endorsements required by law, stock exchange rule or usage. Each Note shall be dated the date of its authentication. The Notes shall be issuable only in fully registered form, without coupons, in denominations of $1,000 and integral
multiples thereof. Interest on the Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months. 
  
 The terms and provisions contained in the Notes shall constitute, and are hereby expressly made, a part of this Indenture and the Company and the Trustee,
by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Note conflicts with the express provisions of this Indenture, the provisions of this
Indenture shall govern and be controlling. 
  
 (b) Global Notes
and Definitive Notes. 
  
 Notes issued in global form shall be
substantially in the form of Exhibit A attached hereto (including the Global Note Legend thereon and the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Notes issued in definitive form shall be substantially in
the form of Exhibit A attached hereto (but without the Global Note Legend thereon and without the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Each Global Note shall represent such of the outstanding Notes as
shall be specified therein and each shall provide that it shall represent the aggregate principal amount of outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby may
from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate principal amount of outstanding Notes represented
thereby shall be made by the Trustee or the Custodian, at the direction of the Trustee, in accordance with instructions given by the Holder thereof as required by Section 2.6 hereof. 
  
 (c) Euroclear, Clearstream Procedures Applicable. 
  
 The provisions of the “Operating Procedures of the Euroclear System” and “Terms and Conditions Governing Use
of Euroclear” and the “General Terms and Conditions of Clearstream Banking” and “Customer Handbook” of Clearstream shall be applicable to transfers of beneficial interests in the Regulation S Global Notes that are held by
Participants through Euroclear or Clearstream. 
  
 Section 2.02 Execution and
Authentication 
  
 An Officer of the Company shall sign the
Notes for the Company by manual or facsimile signature. 
  
 If an
Officer whose signature is on a Note no longer holds that office at the time the Trustee authenticates the Note, the Note shall be valid nevertheless. 
  

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 A Note shall not be valid until an authorized signatory of the Trustee, upon a written order of the
Company signed by an Officer of the Company (an “Authentication Order”), manually authenticates the Note. The signature of the Trustee on a Note shall be conclusive evidence that such Note has been duly and validly authenticated and
issued under this Indenture. 
  
 The Trustee may appoint an agent
(the “Authenticating Agent”) reasonably acceptable to the Company to authenticate the Notes. Unless limited by the terms of such appointment, any such Authenticating Agent may authenticate Notes whenever the Trustee may do so. Each
reference in this Indenture to authentication by the Trustee includes authentication by such agent. 
  
 Section 2.03 Registrar and Paying Agent 
  
 The Company shall (i) appoint an agent (the “Registrar”) who shall maintain an office or agency where Notes may be presented for registration of transfer or for exchange and (ii) an agent (the
“Paying Agent”) who shall maintain an office or agency where Notes may be presented for payment. The Registrar shall keep a register of the Notes and of their transfer and exchange. The Registrar and the Paying Agent shall initially
be The Bank of New York Trust Company, N.A. The Company may have one or more co-registrars and one or more additional paying agents. The term “Paying Agent” includes any such additional paying agent. 
  
 In the event the Company shall retain any Person not a party to this
Indenture as an agent hereunder, the Company shall enter into an appropriate agency agreement with any Registrar, Paying Agent or co-registrar not a party to this Indenture, which shall incorporate the terms of the TIA. The agreement shall implement
the provisions of this Indenture that relate to such agent. The Company shall promptly notify the Trustee of the name and address of each such agent. If the Company fails to maintain a Registrar or Paying Agent, the Trustee shall act as such and
shall be entitled to appropriate compensation therefor pursuant to Section 7.8. The Company or any of its Subsidiaries may act as Paying Agent. 
  
 The Company initially appoints The Depository Trust Company to act as depositary with respect to the Global Notes. 
  
 Section 2.04 Paying Agent to Hold Money in Trust 
  
 By at least 10:00 a.m. New York City Time on the date on which any principal
or interest on any Note is due and payable, the Company shall deposit with the Paying Agent a sum (in funds which are immediately available) sufficient to pay such principal or interest when due. The Company shall require each Paying Agent (other
than the Trustee) to agree in writing that such Paying Agent shall hold in trust for the benefit of Noteholders or the Trustee all money held by such Paying Agent for the payment of principal or interest on the Notes and shall notify the Trustee of
any default by the Company in making any such payment. If the Company or any of its Subsidiaries acts as Paying Agent, it shall segregate the money held by it as Paying Agent and hold it as a separate trust fund. The Company at any time may require
a Paying Agent (other than the Trustee) to pay all money held by it to the Trustee and to account for any funds disbursed by such Paying Agent. Upon complying with this Section 2.4, the Paying Agent (if other than the Company or any of its
Subsidiaries) shall have no further liability for the money delivered to the Trustee. Upon any bankruptcy, reorganization or similar proceeding with respect to the Company, the Trustee shall serve as Paying Agent for the Notes. 
  
 Section 2.05 Noteholder Lists 
  
 The Trustee shall preserve in as current a form as is reasonably practicable
a list of the names and addresses of Noteholders. If the Trustee or any Paying Agent is not the Registrar, the Company shall cause the Registrar to furnish to the Trustee or any such Paying Agent, in writing at least five Business Days before each
interest payment date and at such other times as the Trustee or any such Paying Agent may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Noteholders. 
  

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 Section 2.06 Transfer and Exchange 
  
 (a) Transfer and Exchange of Global Notes. 
  
 A Global Note may not be transferred except as a whole by the Depositary to
a nominee of the Depositary, by a nominee of the Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. All Global Notes
will be exchanged by the Company for Definitive Notes if (i) the Depositary notifies the Company that it is unwilling or unable to continue to act as Depositary or that it is no longer a clearing agency registered under the Exchange Act and, in
either case, the Company is unable to locate a qualified successor Depositary within 90 days after the date of such notice from the Depositary or (ii) the Company, in its discretion at any time, determines not to have all the Notes represented by
Global Notes or (iii) a Default entitling the Holders to accelerate the maturity of the Notes has occurred and is continuing. Upon the occurrence of either of the preceding events in (i), (ii) or (iii) above, Definitive Notes shall be issued in
such names as the Depositary shall instruct the Trustee in writing. Global Notes also may be exchanged or replaced, in whole or in part, as provided in Sections 2.7 and 2.11 hereof. Every Note authenticated and delivered in exchange for, or in lieu
of, a Global Note or any portion thereof, pursuant to this Section 2.6 or Section 2.7 or 2.10 hereof, shall be authenticated and delivered in the form of, and shall be, a Global Note, except as otherwise provided herein. A Global Note may not be
exchanged for another Note other than as provided in this Section 2.6(a), however, beneficial interests in a Global Note may be transferred and exchanged as provided in Section 2.6(b), (c) or (f) hereof. 
  
 (b) Transfer and Exchange of Beneficial Interests in the Global Notes.

  
 The transfer and exchange of beneficial interests in the
Global Notes shall be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable Procedures. Beneficial interests in the Restricted Global Notes shall be subject to restrictions on transfer comparable to
those set forth herein to the extent required by the Securities Act. Transfers of beneficial interests in the Global Notes also shall require compliance with either subparagraph (i) or (ii) below, as applicable, as well as one or more of the other
following subparagraphs, as applicable: 
  
 (1)
Transfer of Beneficial Interests in the Same Global Note. Beneficial interests in any Restricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Note in
accordance with the transfer restrictions set forth in the Private Placement Legend. Beneficial interests in any Unrestricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted
Global Note. No written orders or instructions shall be required to be delivered to the Registrar to effect the transfers described in this Section 2.6(b)(i). 
  

(2) All Other Transfers and Exchanges of Beneficial Interests in Global Notes. In connection with all transfers and exchanges of
beneficial interests that are not subject to Section 2.6(b)(i) above, the transferor of such beneficial interest must deliver to the Registrar either (A) (1) a written order from a Participant or an Indirect Participant given to the Depositary in
accordance with the Applicable Procedures directing the Depositary to credit or cause to be credited a beneficial interest in another Global Note in an amount equal to the beneficial interest to be transferred or exchanged and (2) instructions given
in accordance with the Applicable Procedures containing information regarding the Participant account to be credited with such increase or (B) (1) a written order from a Participant or an Indirect Participant given to the Depositary in accordance
with the Applicable Procedures directing the Depositary to cause to be issued a Definitive Note in an amount equal to the beneficial interest to be transferred or exchanged and (2) instructions given by the Depositary to the Registrar containing
information regarding the Person in whose name such Definitive Note shall be registered to effect the transfer or exchange referred to in (B)(1) above. Upon consummation of an Registered Exchange Offer by the Company in accordance with Section
2.6(f) hereof, the requirements of this Section 2.6(b)(ii) shall be deemed to have been satisfied upon receipt by the Registrar of the instructions contained in the Letter of Transmittal delivered by the Holder of such beneficial interests in the
Restricted Global Notes. Upon satisfaction of all of the requirements for transfer or exchange of 

  

 9 








 
beneficial interests in Global Notes contained in this Indenture and the Notes or otherwise applicable under the Securities Act, the Trustee shall adjust the
principal amount of the relevant Global Note(s) pursuant to Section 2.6(h) hereof. 
  
 (3) Transfer of Beneficial Interests to Another Restricted Global Note. A beneficial interest in any Restricted Global Note may be
transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Note if the transfer complies with the requirements of Section 2.6(b)(ii) above and the Registrar receives a certificate in the form
of Exhibit B hereto, including the certifications in item (1) or (2) thereof, as applicable. 
  
 (4) Transfer and Exchange of Beneficial Interests in a Restricted Global Note for Beneficial Interests in an Unrestricted Global
Note. A beneficial interest in any Restricted Global Note may be exchanged by any holder thereof for a beneficial interest in an Unrestricted Global Note or transferred to a Person who takes delivery thereof in the form of a beneficial interest
in an Unrestricted Global Note if the exchange or transfer complies with the requirements of Section 2.6(b)(ii) above and: 
  
 (a) such exchange or transfer is effected pursuant to the Registered Exchange Offer in accordance with the Registration Rights Agreement
and the holder of the beneficial interest to be transferred, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that (1) it is not an Affiliate of the Company or if it is an
Affiliate of the Company, it will comply with the registration and prospectus delivery requirements of the Securities Act to the extent applicable, (2) it is not a broker-dealer and is not engaged in, and does not intend to engage in, the
distribution of the Exchange Notes or (3) it is a broker-dealer and that it will receive Exchange Notes for its own account in exchange for Initial Notes that were acquired as a result of market-making activities or other trading activities and that
it will be required to acknowledge that it will deliver a prospectus in connection with any resale of such Exchange Notes; 
  
 (b) such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights Agreement;

  
 (c) such transfer is effected by a
broker-dealer pursuant to the Exchange Offer Registration Statement in accordance with the Registration Rights Agreement; or 
  
 (d) the Registrar receives the following: 
  
 (A) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a beneficial
interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(a) thereof; or 
  
 (B) if the holder of such beneficial interest in a Restricted Global Note proposes to transfer such
beneficial interest to a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit B hereto, including the certifications in item (4) thereof;

  
 and, in each such case set forth in this subparagraph (D),
if the Registrar so requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the
restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 
  
 If any such transfer is effected pursuant to subparagraph (B) or (D) above at a time when an Unrestricted Global Note has not yet been issued, the Company
shall issue and, upon receipt of an Authentication Order in accordance with Section 2.2 hereof, the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the aggregate principal amount of
beneficial interests transferred pursuant to subparagraph (B) or (D) above. 
  
 (5) Beneficial interests in an Unrestricted Global Note cannot be exchanged for, or transferred to Persons who take delivery thereof in the form of, a beneficial interest in a Restricted Global Note. 
  

 10 








 (c) Transfer or Exchange of Beneficial Interests for Definitive Notes. 
  
 (1) Beneficial Interests in Restricted Global Notes to
Restricted Definitive Notes. If any holder of a beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note or to transfer such beneficial interest to a Person who takes delivery
thereof in the form of a Restricted Definitive Note, then, upon receipt by the Registrar of the following documentation: 
  
 (a) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted
Definitive Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (2)(a) thereof; 
  
 (b) if such beneficial interest is being transferred to a Qualified Institutional Buyer in accordance with Rule 144A under the Securities
Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof; 
  
 (c) if such beneficial interest is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule 903 or Rule
904 under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (2) thereof; 
  
 (d) if such beneficial interest is being transferred pursuant to an exemption from the registration requirements of the Securities Act in
accordance with Rule 144 under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof; 
  
 (e) if such beneficial interest is being transferred to the Company or any of its Subsidiaries, a
certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; or 
  
 (f) if such beneficial interest is being transferred pursuant to an effective registration statement under the Securities Act, a
certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(c) thereof, 
  
 the Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.6(h) hereof, and the Company shall execute and the Trustee shall upon receipt of an
Authentication Order authenticate and deliver to the Person designated in the instructions a Definitive Note in the appropriate principal amount. Any Definitive Note issued in exchange for a beneficial interest in a Restricted Global Note pursuant
to this Section 2.6(c) shall be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial interest shall instruct the Registrar through instructions from the Depositary and the Participant
or Indirect Participant. The Trustee shall (at the expense of the Company) deliver such Definitive Notes to the Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial interest in a Restricted
Global Note pursuant to this Section 2.6(c)(i) shall bear the Private Placement Legend and shall be subject to all restrictions on transfer contained therein. 
  

(2) Beneficial Interests in Restricted Global Notes to Unrestricted Definitive Notes. A holder of a beneficial interest in a
Restricted Global Note may exchange such beneficial interest for an Unrestricted Definitive Note or may transfer such beneficial interest to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note only if: 
  
 (a) such exchange or transfer is effected pursuant to the
Registered Exchange Offer in accordance with the Registration Rights Agreement and the holder of such beneficial interest, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the Letter of Transmittal that (1) it
is not an Affiliate of the Company or if it is an Affiliate of the Company, it will comply with the registration and prospectus delivery requirements of the Securities Act to the extent applicable, (2) it is not a broker-dealer and is not engaged
in, and does not intend to engage in, the distribution of the Exchange Notes or (3) it is a broker-dealer and that it will receive Exchange Notes for its own account in exchange for Initial Notes that were acquired as a result of market-making
activities or other trading activities and that it will be required to acknowledge that it will deliver a prospectus in connection with any resale of such Exchange Notes; 
  

 11 








 (b) such transfer is effected pursuant to the Shelf Registration Statement in accordance
with the Registration Rights Agreement; 
  
 (c)
such transfer is effected by a broker-dealer pursuant to the Exchange Offer Registration Statement in accordance with the Registration Rights Agreement; or 
  
 (d) the Registrar receives the following: 
  
 (A) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Definitive
Note that does not bear the Private Placement Legend, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(b) thereof; or 
  
 (B) if the holder of such beneficial interest in a Restricted Global Note proposes to transfer such
beneficial interest to a Person who shall take delivery thereof in the form of a Definitive Note that does not bear the Private Placement Legend, a certificate from such holder in the form of Exhibit B hereto, including the certifications in item
(4) thereof, 
  
 and, in each such case set forth in this
subparagraph (D), if the Registrar so requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and
that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 
  
 (3) Beneficial Interests in Unrestricted Global Notes to Unrestricted Definitive Notes. If any holder
of a beneficial interest in an Unrestricted Global Note proposes to exchange such beneficial interest for a Definitive Note or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a Definitive Note, then, upon
satisfaction of the conditions set forth in Section 2.6(b)(ii) hereof, the Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.6(h) hereof, and the Company shall execute
and the Trustee shall upon receipt of an Authentication Order authenticate and (at the expense of the Company) deliver to the Person designated in the instructions a Definitive Note in the appropriate principal amount. Any Definitive Note issued in
exchange for a beneficial interest pursuant to this Section 2.6(c)(iii) shall be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial interest shall instruct the Registrar through
instructions from the Depositary and the Participant or Indirect Participant. The Trustee shall (at the expense of the Company) deliver such Definitive Notes to the Persons in whose names such Notes are so registered. Any Definitive Note issued in
exchange for a beneficial interest pursuant to this Section 2.6(c)(iii) shall not bear the Private Placement Legend. 
  
 (d) Transfer and Exchange of Definitive Notes for Beneficial Interests in Global Notes. 
  
 (1) Restricted Definitive Notes to Beneficial Interests
in Restricted Global Notes. If any Holder of a Restricted Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note or to transfer such Restricted Definitive Note to a Person who takes delivery thereof
in the form of a beneficial interest in a Restricted Global Note, then, upon receipt by the Registrar of the following documentation: 
  
 (a) if the Holder of such Restricted Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note,
a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (2)(b) thereof; 
  
 (b) if such Restricted Definitive Note is being transferred to a Qualified Institutional Buyer in accordance with Rule 144A under the
Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof; 
  
 (c) if such Restricted Definitive Note is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule 903 or
Rule 904 under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (2) thereof; 
  

 12 








 (d) if such Restricted Definitive Note is being transferred pursuant to an exemption from
the registration requirements of the Securities Act in accordance with Rule 144 under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof; 
  
 (e) if such Restricted Definitive Note is being transferred
to the Company or any of its Subsidiaries, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; or 
  

(f) if such Restricted Definitive Note is being transferred pursuant to an effective registration statement under the Securities Act, a
certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(c) thereof; 
  
 the Trustee shall cancel the Restricted Definitive Note and increase or cause to be increased the aggregate principal amount of the appropriate Restricted Global Note. 
  
 (2) Restricted Definitive Notes to Beneficial Interests
in Unrestricted Global Notes. A Holder of a Restricted Definitive Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Restricted Definitive Note to a Person who takes delivery thereof in the form
of a beneficial interest in an Unrestricted Global Note only if: 
  
 (a) such exchange or transfer is effected pursuant to the Registered Exchange Offer in accordance with the Registration Rights Agreement and the Holder, in the case of an exchange, or the transferee, in the case of a
transfer, certifies in the Letter of Transmittal that (1) it is not an Affiliate of the Company or if it is an Affiliate of the Company, it will comply with the registration and prospectus delivery requirements of the Securities Act to the extent
applicable, (2) it is not a broker-dealer and is not engaged in, and does not intend to engage in, the distribution of the Exchange Notes or (3) it is a broker-dealer and that it will receive Exchange Notes for its own account in exchange for
Initial Notes that were acquired as a result of market-making activities or other trading activities and that it will be required to acknowledge that it will deliver a prospectus in connection with any resale of such Exchange Notes; 
  
 (b) such transfer is effected pursuant to the Shelf
Registration Statement in accordance with the Registration Rights Agreement; 
  
 (c) such transfer is effected by a broker-dealer pursuant to the Exchange Offer Registration Statement in accordance with the Registration Rights Agreement; or 
  
 (d) the Registrar receives the following: 
  
 (A) if the Holder of such Definitive Notes proposes to
exchange such Notes for a beneficial interest in the Unrestricted Global Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(c) thereof; or 
  
 (B) if the Holder of such Definitive Notes proposes to
transfer such Notes to a Person who shall take delivery thereof in the form of a beneficial interest in the Unrestricted Global Note, a certificate from such Holder in the form of Exhibit B hereto, including the certifications in item (4) thereof;

  
 and, in each such case set forth in this subparagraph (D),
if the Registrar so requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the
restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 
  
 Upon satisfaction of the conditions of any of the subparagraphs in this Section 2.6(d)(ii), the Trustee shall cancel the Definitive Notes and increase or cause to be
increased the aggregate principal amount of the Unrestricted Global Note. 
  

 13 








 (3) Unrestricted Definitive Notes to Beneficial Interests in Unrestricted Global
Notes. A Holder of an Unrestricted Definitive Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in
an Unrestricted Global Note at any time. Upon receipt of a written request for such an exchange or transfer, the Trustee shall cancel the applicable Unrestricted Definitive Note and increase or cause to be increased the aggregate principal amount of
one of the Unrestricted Global Notes. 
  
 (4) If
any such exchange or transfer from a Definitive Note to a beneficial interest in an Unrestricted Global Note is effected pursuant to subparagraphs (ii)(B), (ii)(D) or (iii) above at a time when an Unrestricted Global Note has not yet been issued,
the Company shall issue and, upon receipt of an Authentication Order in accordance with Section 2.2 hereof, the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of
Definitive Notes so transferred. 
  
 (e) Transfer and Exchange
of Definitive Notes for Definitive Notes. 
  
 Upon request by
a Holder of Definitive Notes and such Holder’s compliance with the provisions of this Section 2.6(e), the Registrar shall register the transfer or exchange of Definitive Notes. Prior to such registration of transfer or exchange, the requesting
Holder shall present or surrender to the Registrar the Definitive Notes duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by such Holder or by his attorney, duly authorized in
writing. In addition, the requesting Holder shall provide any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this Section 2.6(e). 
  
 (1) Restricted Definitive Notes to Restricted Definitive
Notes. Any Restricted Definitive Note may be transferred to and registered in the name of Persons who take delivery thereof in the form of a Restricted Definitive Note if the Registrar receives the following: 
  
 (a) if the transfer will be made pursuant to Rule 144A under
the Securities Act, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; 
  
 (b) if the transfer will be made pursuant to Rule 903 or Rule 904, then the transferor must deliver a certificate in the form of Exhibit B
hereto, including the certifications in item (2) thereof; and 
  
 (c) if the transfer will be made pursuant to any other exemption from the registration requirements of the Securities Act, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the
certifications required by item (3) thereof. 
  
 (2) Restricted Definitive Notes to Unrestricted Definitive Notes. Any Restricted Definitive Note may be exchanged by the Holder thereof for an Unrestricted Definitive Note or transferred to a Person or Persons who take delivery
thereof in the form of an Unrestricted Definitive Note if: 
  
 (a) such exchange or transfer is effected pursuant to the Registered Exchange Offer in accordance with the Registration Rights Agreement and the Holder, in the case of an exchange, or the transferee, in the case of a
transfer, certifies in the Letter of Transmittal that (1) it is not an Affiliate of the Company or if it is an Affiliate of the Company, it will comply with the registration and prospectus delivery requirements of the Securities Act to the extent
applicable, (2) it is not a broker-dealer and is not engaged in, and does not intend to engage in, the distribution of the Exchange Notes or (3) it is a broker-dealer and that it will receive Exchange Notes for its own account in exchange for
Initial Notes that were acquired as a result of market-making activities or other trading activities and that it will be required to acknowledge that it will deliver a prospectus in connection with any resale of such Exchange Notes; 
  
 (b) any such transfer is effected pursuant to the Shelf
Registration Statement in accordance with the Registration Rights Agreement; 
  

 14 








 (c) any such transfer is effected by a broker-dealer pursuant to the Exchange Offer
Registration Statement in accordance with the Registration Rights Agreement; or 
  
 (d) the Registrar receives the following: 
  
 (A) if the Holder of such Restricted Definitive Notes proposes to exchange such Notes for an Unrestricted Definitive Note, a certificate
from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(d) thereof; or 
  
 (B) if the Holder of such Restricted Definitive Notes proposes to transfer such Notes to a Person who shall take delivery thereof in the
form of an Unrestricted Definitive Note, a certificate from such Holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 
  
 and, in each such case set forth in this subparagraph (D), if the Registrar so requests, an Opinion of Counsel in form reasonably acceptable to the
Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with
the Securities Act. 
  
 (3) Unrestricted
Definitive Notes to Unrestricted Definitive Notes. A Holder of Unrestricted Definitive Notes may transfer such Notes to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note. Upon receipt of a request to register
such a transfer, the Registrar shall register the Unrestricted Definitive Notes pursuant to the instructions from the Holder thereof. 
  
 (f) Registered Exchange Offer. 
  
 Upon the occurrence of the Registered Exchange Offer in accordance with the Registration Rights Agreement, the Company shall issue and, upon receipt of an
Authentication Order in accordance with Section 2.2, the Trustee shall authenticate (i) one or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of the beneficial interests in the Restricted Global Notes
tendered for acceptance by Persons that certify in the Letters of Transmittal that (x) they are not Affiliates of the Company or if they are Affiliates of the Company, they will comply with the registration and prospectus delivery requirements of
the Securities Act to the extent applicable, (y) they are not broker-dealers and are not engaged in, and do not intend to engage in, the distribution of the Exchange Notes or (z) they are broker-dealers and that they will receive Exchange Notes for
their own account in exchange for Initial Notes that were acquired as a result of market-making activities or other trading activities and that they will be required to acknowledge that they will deliver a prospectus in connection with any resale of
such Exchange Notes; and (ii) Definitive Notes in an aggregate principal amount equal to the principal amount of the Restricted Definitive Notes accepted for exchange in the Registered Exchange Offer. Concurrently with the issuance of such Notes,
the Trustee shall cause the aggregate principal amount of the applicable Restricted Global Notes to be reduced accordingly, and the Company shall execute and the Trustee shall authenticate and (at the expense of the Company) deliver to the Persons
designated by the Holders of Definitive Notes so accepted Definitive Notes in the appropriate principal amount. 
  
 (g) Legends. 
  
 The following legends shall appear on the face of all Global Notes and Definitive Notes issued under this Indenture unless specifically stated otherwise
in the applicable provisions of this Indenture. 
  
 (1) Private Placement Legend. 
  
 (A) Except as permitted by subparagraph (B) below, each Global Note and each Definitive Note (and all Notes issued in exchange therefor or substitution thereof) shall bear the legend in substantially the following form: 
  
 “THIS NOTE (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED
IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE UNITED STATES SECURITIES ACT OF 1933, 

  

 15 








 
AS AMENDED (THE “SECURITIES ACT”), AND THIS NOTE MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN
APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THIS NOTE IS HEREBY NOTIFIED THAT THE SELLER OF THIS NOTE MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. 
  
 THE HOLDER OF THIS NOTE AGREES FOR THE BENEFIT OF THE
COMPANY THAT (A) THIS NOTE MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED, ONLY (I) IN THE UNITED STATES TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES
ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (II) OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 904 UNDER THE SECURITIES ACT, (III) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT
PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE) OR (IV) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH OF CASES (I) THROUGH (IV) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES,
AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THIS NOTE FROM IT OF THE RESALE RESTRICTIONS REFERRED TO IN (A) ABOVE”. 
  
 (B) Notwithstanding the foregoing, any Global Note or Definitive Note issued pursuant to subparagraphs
(b)(iv), (c)(ii), (c)(iii), (d)(ii), (d)(iii), (e)(ii), (e)(iii) or (f) to this Section 2.6 (and all Notes issued in exchange therefor or substitution thereof) shall not bear the Private Placement Legend. 
  
 (2) Global Note Legend. Each Global Note shall bear a
legend in substantially the following form: 
  
 “THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES
EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.6 OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.6(a) OF THE INDENTURE, (III) THIS GLOBAL
NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
  
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH
OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY A PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN”. 
  

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 (h) Cancellation and/or Adjustment of Global Notes. 
  
 At such time as all beneficial interests in a particular Global Note have
been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global Note shall be returned to or retained and canceled by the Trustee in accordance with Section 2.11
hereof. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note or for Definitive
Notes, the principal amount of Notes represented by such Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such reduction; and
if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note shall be increased accordingly and an endorsement shall
be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. 
  
 (i) Upon the consummation of a Private Exchange with respect to the Initial Notes pursuant to which Holders of such Initial Notes are offered Private
Exchange Notes in exchange for their Initial Notes, all requirements pertaining to such Initial Notes that Initial Notes issued to certain Holders be issued in global form will still apply, and Private Exchange Notes in global form will be available
to Holders that exchange such Initial Notes in such Private Exchange. 
  
 (j) General Provisions Relating to Transfers and Exchanges. 
  
 (i) To permit registrations of transfers and exchanges, the Company shall execute and the Trustee shall authenticate Global Notes and Definitive Notes upon receipt of an Authentication Order in accordance with Section
2.2 hereof or upon receipt of a written request of the Registrar. 
  
 (ii) No service charge shall be made to a holder of a beneficial interest in a Global Note or to a Holder of a Definitive Note for any registration of transfer or exchange, but the Company may require payment of a sum
sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer taxes or similar governmental charge payable upon exchange or transfer pursuant to Sections 2.10 and 9.5 hereof).

  
 (iii) All Global Notes and Definitive Notes
issued upon any registration of transfer or exchange of Global Notes or Definitive Notes shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Global Notes or
Definitive Notes surrendered upon such registration of transfer or exchange. 
  
 (iv) Prior to due presentment for the registration of a transfer of any Note, the Trustee, any Agent and the Company may deem and treat the Person in whose name any Note is registered as the absolute owner of such
Note for the purpose of receiving payment of principal of and interest on such Note and for all other purposes, and none of the Trustee, any Agent or the Company shall be affected by notice to the contrary. 
  
 (v) Each Holder of a Note agrees to indemnify the Company
and the Trustee against any liability that may result from the transfer, exchange or assignment of such Holder’s Note in violation of any provision of this Indenture and/or applicable United States Federal or state securities law. 

 
 The Trustee shall have no obligation or duty to monitor,
determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among Depositary Participants
or beneficial owners of interests in any Global Note) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture,
and to examine the same to determine substantial compliance as to form with the express requirements hereof. 
  

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 (vi) The Trustee shall authenticate Global Notes and Definitive Notes in accordance with
the provisions of Section 2.2 hereof. 
  
 (vii)
All certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this Section 2.6 to effect a registration of transfer or exchange may be submitted by facsimile. 
  
 Section 2.07 Replacement Notes 
  
 If a mutilated Note is surrendered to the Registrar or if the Holder of a
Note shall provide the Company and the Trustee with evidence to their satisfaction that the Note has been lost, destroyed or wrongfully taken, the Company shall issue and the Trustee shall authenticate a replacement Note if the requirements of
Section 8-405 of the Uniform Commercial Code are met and the Holder satisfies any other reasonable requirements of the Trustee. If required by the Trustee or either of the Company, such Holder shall furnish an indemnity bond sufficient in the
judgment of the Company and the Trustee to protect the Company, the Trustee, the Paying Agent, the Registrar and any co-registrar from any loss which any of them may suffer if a Note is replaced. The Company and the Trustee may charge the Holder for
their expenses in replacing a Note, including reasonable fees and expenses of counsel. Every replacement Note is an additional Obligation of the Company. 
  
 Section 2.08 Outstanding Notes 
  
 Notes outstanding at any time are all Notes authenticated by the Trustee except for those canceled, those delivered for cancellation and those described
in this Section 2.8 as not outstanding. A Note does not cease to be outstanding because the Company or an Affiliate of the Company holds the Note. 
  
 If a Note is replaced pursuant to Section 2.7, it ceases to be outstanding unless the Trustee and the Company receive proof satisfactory to them that the
replaced Note is held by a bona fide purchaser. 
  
 If the Paying
Agent segregates and holds in trust, in accordance with this Indenture, on a maturity date money sufficient to pay all principal and interest payable on that date with respect to the Notes (or portions thereof) maturing, and the Paying Agent is not
prohibited from paying such money to the Noteholders on that date pursuant to the terms of this Indenture, then on and after that date such Notes (or portions thereof) cease to be outstanding and interest on them ceases to accrue. 
  
 Section 2.09 Treasury Notes 
  
 In determining whether the Holders of the required principal amount of Notes
have concurred in any direction, waiver or consent, Notes owned by the Company or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company shall be considered as though not
outstanding, except that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Notes that a Trust Officer actually knows are so owned shall be so disregarded. 
  
 Section 2.10 Temporary Notes 
  
 Until Definitive Notes are ready for delivery, the Company may prepare and
the Trustee, upon receipt of an Authentication Order, shall authenticate temporary Notes. Temporary Notes shall be substantially in the form of Definitive Notes but may have variations that the Company and the Trustee consider appropriate for
temporary Notes. Without unreasonable delay, the Company shall prepare and the Trustee shall authenticate Definitive Notes. After the preparation of Definitive Notes, the temporary Notes shall be exchangeable for Definitive Notes upon surrender of
the temporary Notes at any office or agency maintained by the Company for that purpose and such exchange shall be without charge to the Holder. Upon surrender for cancellation of any one or more 

  

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temporary Notes, the Company shall execute, and the Trustee shall authenticate and deliver in exchange therefor, one or more Definitive Notes representing an
equal principal amount of Notes. Until so exchanged, the Holder of temporary Notes shall in all respects be entitled to the same benefits under this Indenture as a Holder of Definitive Notes. 
  
 Section 2.11 Cancellation 
  
 The Company at any time may deliver Notes to the Trustee for cancellation.
The Registrar and the Paying Agent shall forward to the Trustee for cancellation any Notes surrendered to them for registration of transfer or exchange or payment. The Trustee shall cancel and dispose of (subject to the record retention requirements
of the Exchange Act) all Notes surrendered for registration of transfer or exchange, payment or cancellation according to its normal operating procedures and deliver a certificate of such destruction to the Company unless the Company directs the
Trustee to deliver canceled Notes to the Company. The Company may not issue new Notes to replace Notes they have paid or delivered to the Trustee for cancellation. 
  
 Section 2.12 Defaulted Interest 
  
 If the Company defaults in a payment of interest on the Notes, the Company shall pay defaulted interest (plus interest on
such defaulted interest to the extent lawful) at the rate specified therefor in the Notes in any lawful manner. The Company may pay the defaulted interest to the Persons who are Noteholders on a subsequent special record date. The Company shall fix
or cause to be fixed (or upon the Company’s failure to do so the Trustee shall fix) any such special record date and payment date which specified record date shall not be less than 10 days prior to the payment date for such defaulted interest
and shall promptly mail or cause to be mailed to each Noteholder a notice that states the special record date, the payment date and the amount of defaulted interest to be paid. The Company shall notify the Trustee in writing of the amount of
defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Paying Agent 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 so deposited to be held in trust for the benefit of the Person entitled to such defaulted interest
as provided in this Section 2.12. 
  
 Section
2.13 CUSIP Numbers 
  
 The Company in issuing the Notes
may use “CUSIP” numbers (if then generally in use) and, if so, the Trustee shall use “CUSIP” numbers in notices to Holders as a convenience to Holders; provided, however, that any such notice may state that no
representation is made as to the correctness of such numbers either as printed on the Notes or as contained in any such notice and that reliance may be placed only on the other identification numbers printed on the Notes, and any such notice shall
not be affected by any defect in or omission of such numbers. 
  

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 ARTICLE 3. 
  

[REMOVED AND RESERVED] 
  
 ARTICLE 4. 
  
 COVENANTS 
  
 Section 4.01 Payment of Notes 
  
 The Company shall promptly pay the principal of and interest on the Notes on the dates and in the manner provided in the Notes and in this Indenture. Principal and interest shall be considered paid on the date due if on or before 10:00 a.m.
New York City Time on such date the Trustee or the Paying Agent holds (or, if the Company or a Subsidiary of the Company is the Paying Agent, the segregated account or separate trust fund maintained by the Company or such Subsidiary pursuant to
Section 2.4) in accordance with this Indenture money sufficient to pay all principal and interest then due and the Trustee or the Paying Agent (or, if the Company or a Subsidiary of the Company is the Paying Agent, the Company or such Subsidiary),
as the case may be, is not prohibited from paying such money to the Noteholders on that date pursuant to the terms of this Indenture. 
  
 The Company shall pay interest on overdue principal at the rate specified therefor in the Notes, and they shall pay interest on overdue installments of
interest at the same rate to the extent lawful as provided in Section 2.12. 
  
 Notwithstanding anything to the contrary contained in this Indenture, the Company or the Paying Agent may, to the extent it is required to do so by law, deduct or withhold income or other similar taxes imposed by the
United States of America or other domestic or foreign taxing authorities from principal or interest payments hereunder. 
  
 Section 4.02 Maintenance of Office or Agency 
  
 The Company shall maintain an office or agency (which may be an office of the Trustee or an affiliate of the Trustee or
Registrar) where Notes may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Notes and this Indenture may be served. The Company shall give prompt written notice to the
Trustee of the location, and any change in the location, of such office or agency. 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, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee. 
  
 The Company may also from time to time designate one or more other offices or agencies where the Notes 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 their obligations to maintain an office or agency for such purposes. The
Company shall 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. 
  
 The Company hereby designate the Corporate Trust Office of the Trustee as one such office or agency of the Company in
accordance with Section 2.3. 
  
 Section 4.03
Corporate Existence 
  
 Except as otherwise permitted by
Article V, the Company shall do or cause to be done, at its own cost and expense, all things necessary to preserve and keep in full force and effect its corporate existence and the rights (charter and statutory) and franchises of the Company;
provided, however, that the Company shall not be required to preserve any right or franchise if the Board of Directors shall determine in good faith (such 

  

 20 








 
determination to be evidenced by a Board Resolution), that the preservation thereof is no longer desirable in the conduct of the business of the Company and
that the loss thereof is not disadvantageous to the Noteholders . 
  
 Section 4.04 SEC Reports 
  
 (a) The Company will file with the Trustee and the SEC such annual reports and such information, documents and other reports as are specified in Sections 13 and 15(d) of the Exchange Act and applicable to a U.S. corporation subject to such
sections, such information, documents and other reports to be so filed and provided at the times specified for the filings of such information, documents and reports under such sections; provided that any such information, documents or
reports required to be filed pursuant to such sections shall be filed with the Trustee within 15 days after the same is so required to be filed with the SEC. 
  
 (b) In addition, the Company shall furnish to the Holders of the Notes and to prospective investors, upon the requests of such Holders, any information
required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act so long as the Notes are not freely transferable under the Securities Act. 
  
 Section 4.05 Compliance Certificate 
  
 (a) The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year, an Officers’ Certificate stating that a review of
the activities of the Company during the preceding fiscal year has been made under the supervision of the signing Officers with a view to determining whether the Company has kept, observed, performed and fulfilled its obligations under this
Indenture, and further stating, as to such Officers signing such certificate, that to the best of his or her knowledge the Company has kept, observed, performed and fulfilled each and every covenant contained in this Indenture and is not in default
in the performance or observance of any of the terms, provisions and conditions hereof (or, if a Default or Event of Default shall have occurred, describing all such Defaults or Events of Default of which he or she may have knowledge and what action
the Company is taking or proposes to take with respect thereto) and that to the best of his or her knowledge no event has occurred and remains in existence by reason of which payments on account of the principal of or interest on the Notes are
prohibited (or if such event has occurred, a description of the event and what action the Company is taking or proposes to take with respect thereto). 
  
 (b) The Company shall, so long as any of the Notes are outstanding, deliver to the Trustee, forthwith upon any Officer becoming aware of any Default or
Event of Default an Officers’ Certificate specifying such Default or Event of Default and what action the Company is taking or propose to take with respect thereto. 
  
 Section 4.06 Further Instruments and Acts 
  
 Upon reasonable request of the Trustee, the Company shall execute and
deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 
  

ARTICLE 5. 
  
 CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 
  
 Section 5.01 When Company May Merge or Transfer Assets 
  
 The Company shall not consolidate with or merge with or into, or convey, transfer or lease, in one transaction or a series
of transactions, directly or indirectly, all or substantially all its assets to, any Person, unless: 
  
 (i) the resulting, surviving or transferee Person (the “Successor Company”) shall be a Person organized and existing
under the laws of the United States of America, any State thereof or the District of Columbia and the Successor Company (if not the Company) will expressly assume, by supplemental indenture, executed and delivered to the Trustee, in form
satisfactory to the Trustee, all the obligations of the Company under the Notes and this Indenture; 
  

 21 








 (ii) immediately after giving effect to such transaction (and treating any indebtedness
which becomes an obligation of the Successor Company or any Subsidiary as a result of such transaction as having been incurred by the Successor Company or such Subsidiary at the time of such transaction), no Default or Event of Default shall have
occurred and be continuing; 
  
 (iii) the Company
shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger or transfer and such supplemental indenture (if any) comply with the Indenture; and 
  
 (iv) the Company shall have delivered to the Trustee an
Opinion of Counsel to the effect that the Holders will not recognize income, gain or loss for Federal income tax purposes as a result of such transaction 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 transaction had not occurred. 
  
 The Successor Company shall be the successor to the Company and shall succeed to, and be substituted for, and may exercise every right and power of, the Company under the Indenture, and the Company, except in the case
of a lease, shall be released from the obligation to pay the principal of and interest on the Notes. 
  
 ARTICLE 6. 
  
 DEFAULTS AND REMEDIES 
  
 Section
6.01 Events of Default 
  
 “Event of Default”
means any one of the following events (whatever the reason for such Event of Default and whether it shall 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): 
  
 (i) default in the payment of any interest upon any Note when it becomes due and payable, and continuance of such default for a period of 30 days; 
  
 (ii) default in the payment of the principal of any Notes at its Stated Maturity; 
  
 (iii) default in the performance, or breach, of any covenant
or warranty of the Company in this Indenture (other than a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section 6.1 specifically dealt with), and continuance of such default or breach for a period of 60
days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and a Trust Officer of the Trustee by the Holders of not less than 25% in principal amount of the outstanding Notes a written notice
specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; 
  
 (iv) the entry by a court having jurisdiction in the premises of (A) a decree or order for relief in respect of the Company in an
involuntary case or proceeding under any applicable Federal or state bankruptcy, insolvency, reorganization or other similar law or (B) a decree or order adjudging the Company a bankrupt or insolvent, or approving as properly filed a petition
seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under any applicable Federal or state law, or appointing a Custodian of the Company or of any substantial part of its property, or ordering the winding up
or liquidation of its affairs, and the continuance of any such decree or order for relief or any such other decree or order unstayed and in effect for a period of 60 consecutive days; or 
  
 (v) the commencement by the Company of a voluntary case or proceeding under any applicable Federal or state
bankruptcy, insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by it to the entry of a decree or order for relief in respect of the Company in an involuntary
case or proceeding under any applicable Federal or state bankruptcy, insolvency, reorganization or other similar law or to the commencement of 

  

 22 








 
any bankruptcy or insolvency case or proceeding against it, or the filing by it of a petition or answer or consent seeking reorganization or relief under any
applicable Federal or state law, or the consent by it to the filing of such petition or to the appointment of or taking possession by a Custodian of the Company or of any substantial part of its property, or the making by it of an assignment for the
benefit of creditors, or the admission by it in writing of its inability to pay its debts generally as they become due, or the taking of corporate action by the Company in furtherance of any such action. 
  
 The Company shall deliver to the Trustee, within 30 days after its knowledge
of the occurrence thereof, written notice in the form of an Officers’ Certificate of any event which with the giving of notice or the lapse of time would become an Event of Default under clause (iii) of this Section 6.1 and what action the
Company is taking or proposes to take with respect thereto. 
  
 Section 6.02 Acceleration 
  
 If an Event of Default specified in Section 6.1(iv) or 6.1(v) occurs, the principal amount of all the Notes shall automatically, and without any declaration or other action on the part of the Trustee or any Holder, become immediately due
and payable. 
  
 At any time after such acceleration has been made
and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article VI provided, the Holders of a majority in principal amount of the outstanding Notes, by written notice to the Company and a
Trust Officer of the Trustee, may rescind and annul such acceleration and its consequences if 
  
 (i) the Company has paid or deposited with the Trustee a sum sufficient to pay 
  
 (a) all overdue interest on all Notes, 
  
 (b) the principal of any Notes which have become due
otherwise than by such acceleration and any interest thereon at the rate or rates prescribed therefor in such Notes, 
  
 (c) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in
such Notes, and 
  
 (d) all sums paid or
advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and 
  
 (ii) all Events of Default with respect to the Notes, other than the non-payment of the principal of Notes which have become due solely by
such declaration of acceleration, have been cured or waived as provided in Section 6.4. 
  
 No such rescission shall affect any subsequent Default or impair any right consequent thereon. 
  
 Section 6.03 Other Remedies 
  
 If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of principal of or interest on the
Notes or to enforce the performance of any provision of the Notes or this Indenture. 
  
 The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. A delay or omission by the Trustee or any Noteholder in exercising any right or
remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is exclusive of any other remedy. All available remedies are, to the extent permitted by law,
cumulative. 
  

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 Section 6.04 Waiver of Past Defaults 
  
 The Holders of a majority in aggregate principal amount at maturity of the
Notes then outstanding by notice to the Trustee may waive any past or existing Default and its consequences except (i) a Default in the payment of the principal of or interest on a Note or (ii) a Default in respect of a provision that under Section
9.2 cannot be amended without the consent of each Noteholder affected. When a Default is waived, it is deemed cured, and any Event of Default arising therefrom shall be deemed to have been cured, but no such waiver shall extend to any subsequent or
other Default or impair any consequent right. 
  
 Section 6.05 Control by Majority 
  
 Upon
provision of reasonable indemnity to the Trustee satisfactory to the Trustee, the Holders of a majority in aggregate principal amount of the Notes then outstanding may direct the time, method and place of conducting any proceeding for any remedy
available to the Trustee or of exercising any trust or power conferred on the Trustee. However, the Trustee, which may conclusively rely on opinions of counsel, may refuse to follow any direction that conflicts with law or this Indenture or, subject
to Section 7.1, that the Trustee determines is unduly prejudicial to the rights of other Noteholders or would involve the Trustee in personal liability; provided, however, that the Trustee may take any other action deemed proper by the
Trustee that is not inconsistent with such direction. 
  
 Section 6.06 Limitation on Suits 
  
 A Holder may
not pursue any remedy with respect to this Indenture or the Notes unless: 
  
 (i) the Holder gives to the Trustee previous written notice stating that an Event of Default is continuing; 
  
 (ii) the Holders of at least 25% in aggregate principal amount at maturity of the Notes then outstanding make a written request to the
Trustee to pursue the remedy; 
  
 (iii) such
Holder or Holders offer to the Trustee reasonable security or indemnity satisfactory to it against any loss, liability or expense; 
  
 (iv) the Trustee does not comply with the request within 60 days after receipt of the request and the offer of security or indemnity; and

  
 (v) the Holders of a majority in aggregate
principal amount of the Notes then outstanding do not give the Trustee a direction inconsistent with such request within such 60-day period. 
  
 A Noteholder may not use this Indenture to prejudice the rights of another Noteholder or to obtain a preference or priority over another Noteholder.

  
 Section 6.07 Rights of Holders to Receive
Payment 
  
 Notwithstanding any other provision of this
Indenture, the right of any Holder to receive payment of the principal of and interest on the Notes held by such Holder, on or after the respective due dates expressed in the Notes, or to bring suit for the enforcement of any such payment on or
after such respective dates, shall not be impaired or affected without the consent of such Holder. 
  
 Section 6.08 Collection Suit by Trustee 
  

If an Event of Default specified in Section 6.1(i) or (ii) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of
an express trust against the Company for the whole amount then due and owing (together with interest on any unpaid interest to the extent lawful) and the amounts provided for in Section 7.8. 
  

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 Section 6.09 Trustee May File Proofs of Claim 
  
 The Trustee may file such proofs of claim and other papers or documents as
may be necessary or advisable in order to have the claims of the Trustee and the Noteholders allowed in any judicial proceedings relative to the Company, its creditors or its property and shall be entitled and empowered to collect, receive and
distribute any money or other securities or property payable or deliverable on any such claims and to distribute the same, and any Custodian in any such judicial proceeding is hereby authorized by each Holder to make payments to the Trustee and, in
the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and its
counsel, and any other amounts then due the Trustee under Section 7.8. 
  
 Section 6.10 Priorities 
  
 If the Trustee collects any money or property pursuant to this Article VI, it shall pay out the money or property in the following order: 
  
 FIRST: to the Trustee for amounts then due under Section 7.8; 
  
 SECOND: subject to Article X, to Noteholders for amounts due and unpaid on the Notes for the principal and
interest, ratably, without preference or priority of any kind, according to the amounts due and payable on the Notes for the principal and interest, respectively; and 
  
 THIRD: to the Company or to such party as a court of competent jurisdiction shall direct. 
  
 The Trustee may fix a record date and payment date for any payment to
Noteholders pursuant to this Section 6.10. At least 15 days before such record date, the Company shall mail to each Noteholder and the Trustee a notice that states the record date, the payment date and amount to be paid. 
  
 Section 6.11 Undertaking for Costs 
  
 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, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion
may assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant; provided that this
Section 6.11 shall not be deemed to authorize any court to require such an undertaking or to make such an assessment in any suit instituted by the Company or the Trustee. 
  
 Section 6.12 Waiver of Stay or Extension Laws 
  
 The Company (to the extent it may lawfully do so) shall not at any time
insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and
the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and shall not hinder, delay or impede the execution of any power herein granted to the Trustee, but shall suffer and permit the
execution of every such power as though no such law had been enacted. 
  
 Section 6.13 Rights and Remedies Cumulative 
  
 No right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be
cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other appropriate right or remedy. 
  

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 Section 6.14 Delay or Omission Not Waiver 
  
 No delay or omission of the Trustee or of any Holder to exercise any right
or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the
Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
  
 ARTICLE 7. 
  
 TRUSTEE 
  
 Section 7.01 Duties of Trustee 
  
 (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise 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 Person would exercise or use
under the circumstances in the conduct of such Person’s own affairs. 
  
 (b) Except during the continuance of an Event of Default: 
  
 (1) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture and the TIA and no
implied covenants or obligations shall be read into this Indenture against the Trustee; and 
  
 (2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of
the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, in the case of any such certificates or opinions which by any provision hereof are specifically
required to be furnished to the Trustee, the Trustee shall examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical
calculations or other facts stated therein) . 
  
 (c) The Trustee
may not be relieved from liability for its own negligent action, its own negligent failure to act or its own wilful misconduct, except that: 
  
 (1) this paragraph does not limit the effect of paragraph (b) of this Section 7.1; 
  
 (2) the Trustee shall not be liable for any error of
judgment made in good faith by a Trust Officer unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and 
  
 (3) the Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction
received by it pursuant to Section 6.5. 
  
 (d) Whether or not
therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b) and (c) of this Section 7.1. 
  
 (e) Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law.

  
 (f) No provision of this Indenture shall require the Trustee
to expend or risk its own funds or otherwise incur financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers, if it shall have reasonable grounds to believe that repayment of such funds
or adequate indemnity against such risk or liability is not reasonably assured to it. 
  
 (g) 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 7.1 and to the provisions of the
TIA. 
  

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 Section 7.02 Rights of Trustee 
  
 (a) The Trustee may conclusively rely upon, and shall be fully protected
from acting or refraining from acting, on any document believed by it to be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document. 
  
 (b) Before the Trustee acts or refrains from acting, it may request an
Officers’ Certificate or an Opinion of Counsel or both. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on the Officers’ Certificate or Opinion of Counsel. 
  
 (c) The Trustee may act through agents and shall not be responsible for the
misconduct or negligence of any agent appointed with due care. 
  
 (d) The Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within its rights or powers; provided, however, that the Trustee’s conduct does not
constitute wilful misconduct or negligence. 
  
 (e) The Trustee
may consult with counsel of its selection, and the advice or opinion of counsel with respect to legal matters relating to this Indenture and the Notes shall be full and complete authorization and protection from liability in respect to any action
taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion of such counsel. 
  
 (f) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of
the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee reasonable security or indemnity satisfactory to the Trustee against the costs, expenses and liabilities which might be incurred by it in compliance with
such request or direction. 
  
 (g) The Trustee shall not be
charged with knowledge of any Default or Event of Default with respect to the Notes unless either (1) a Trust Officer shall have actual knowledge of such Default or Event of Default or (2) written notice of such Default or Event of Default making
reference to this Indenture and to the Notes shall have been given to the Trustee by the Company or by any Holder of the Notes. 
  
 (h) 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, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or
matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or attorney at the sole cost of the
Company and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation. 
  
 (i) The Trustee may require any Paying Agent(s) to pay to it all sums held by such Agent upon the occurrences of an Event of Default. 
  
 (j) The Trustee shall not be liable in respect of any payment (as to the
correctness of amount, entitlement to receive or any other matters relating to payment) or notice effected by the Company or any Paying Agent (other than the Trustee) or any records maintained by any Registrar (other than the Trustee) with respect
to the Notes. 
  
 Section 7.03 Individual
Rights of Trustee 
  
 The Trustee in its individual or any
other capacity may become the owner or pledgee of Notes and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not Trustee. 
  
 Any Paying Agent, Registrar, co-registrar or co-paying agent may do the same with like rights. However, the Trustee must
comply with Sections 7.11 and 7.12. 
  

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 Section 7.04 Money Held in Trust 
  
 Money held by the Trustee in trust hereunder 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 money received by it hereunder except as otherwise agreed in writing with the Company. 
  
 Section 7.05 Trustee’s Disclaimer 
  
 The Trustee shall not be responsible for and makes no representation as to
the validity or adequacy of this Indenture or the Notes. It shall not be accountable for the Company’s use of the proceeds from the Notes, and it shall not be responsible for any statement of the Company in this Indenture or in any document
issued in connection with the sale of the Notes or in the Notes other than the Trustee’s certificate of authentication. 
  
 Section 7.06 Notice of Defaults 
  
 If a Default or an Event of Default occurs and is continuing and if it is known to the Trustee, the Trustee must mail to each Noteholder notice of the
Default within 90 days after it occurs. Except in the case of a Default in payment of principal of or interest on any Note, the Trustee may withhold notice if and so long as a committee of its Trust Officers in good faith determines that withholding
notice is not opposed to the interests of Noteholders. 
  
 Section 7.07 Reports by Trustee to Holders 
  
 As
promptly as practicable after each April 15 beginning with April 15 following the date of this Indenture, the Trustee shall mail to each Noteholder a brief report dated as of such April 15 that complies with TIA Section 313(a). The Trustee also
shall comply with TIA Section 313(b). The Trustee shall promptly deliver to the Company a copy of any report it delivers to Holders pursuant to this Section 7.7. In the event that no events have occurred under the applicable sections of the TIA the
Trustee shall be under no duty or obligation to provide such reports. 
  
 A copy of each report at the time of its mailing to Noteholders shall be filed by the Trustee with the SEC and each stock exchange (if any) on which the Notes are listed. The Company agree to notify promptly the Trustee whenever the Notes
become listed on any stock exchange and of any delisting thereof. 
  
 Section 7.08 Compensation and Indemnity 
  
 The Company shall pay to the Trustee from time to time such compensation for its services as the Company and the Trustee shall from time to time agree in writing. The Trustee’s compensation shall not be limited
by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee upon request for all reasonable and documented fees and expenses, including out-of-pocket expenses, incurred or made by it in connection with the
performance of its duties hereunder, including costs of collection, in addition to such compensation for its services, except any such expense, disbursement or advance as may arise from its negligence, wilful misconduct or bad faith, unless the
Trustee shall have complied with the applicable standard of care required by the TIA. Such expenses shall include the reasonable compensation and documented out-of-pocket expenses, disbursements and advances of the Trustee’s agents, counsel,
accountants and experts. The Trustee shall provide the Company reasonable notice of any expenditure not in the ordinary course of business; provided that prior approval by the Company of any such expenditure shall not be a requirement for the
making of such expenditure nor for reimbursement by the Company thereof. The Company shall jointly and severally indemnify each of the Trustee and any predecessor Trustees against any and all loss, damage, claim, liability or expense and tax
(including reasonable and documented attorneys’ fees and out-of-pocket expenses) (other than taxes applicable to the Trustee’s compensation hereunder) incurred by it in connection with the acceptance or administration of this trust and the
performance of its duties hereunder. The Trustee shall notify the Company 

  

 28 








 
promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Company shall not relieve the Company of its obligations
hereunder. The Company shall defend the claim and the Trustee may have separate counsel, and the Company will pay the reasonable fees and expenses of such counsel. The Company need not reimburse any expense or indemnify against any loss, liability
or expense incurred by the Trustee through the Trustee’s own wilful misconduct, negligence or bad faith, unless the Trustee shall have complied with the applicable standard of care required by the TIA. 
  
 To secure the Company’s payment obligations in this Section 7.8, the
Trustee shall have a lien prior to the Notes on all money or property held or collected by the Trustee other than money or property held in trust to pay principal of and interest on particular Notes. 
  
 When the Trustee incurs expenses after the occurrence of a Default specified
in Section 6.1(iv) or (v) with respect to the Company, the expenses are intended to constitute expenses of administration under any applicable Federal or state bankruptcy, insolvency or other similar law, provided, however, that this shall
not affect the Trustee’s rights as set forth in the preceding paragraph or Section 6.10. The terms of this Section 7.8 shall survive the termination of this Indenture and the removal or resignation of the Trustee. 
  
 Section 7.09 Replacement of Trustee 
  
 The Trustee may resign at any time with 30 days notice to the Company. The
Holders of a majority in principal amount of the Notes then outstanding, may remove the Trustee with 30 days notice to the Trustee and the Company and may appoint a successor Trustee. So long as no Default or Event of Default shall have occurred and
been outstanding within the previous 12-month period, the Company may remove the Trustee at any time by appointing a successor Trustee that complies with Section 7.10. 
  
 If the Trustee resigns, is removed by the Company or by the Holders of a majority in principal amount of the Notes and such
Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a
successor Trustee. 
  
 A successor Trustee shall deliver a written
acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee
under this Indenture. The successor Trustee shall mail a notice of its succession to Noteholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section
7.8. 
  
 If a successor Trustee does not take office and deliver
the written notice contemplated by this Section 7.9 within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the Notes may, at the expense of the Company petition any court of
competent jurisdiction for the appointment of a successor Trustee. 
  
 If the Trustee fails to comply with Section 7.10, any Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
  
 Section 7.10 Successor Trustee by Merger 

 
 If the Trustee consolidates with, merges or converts into, or transfers
all or substantially all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation without any further act shall be the successor Trustee, provided that such
corporation shall be eligible under this Article VII and TIA Section 310(a). 
  
 In case at the time such successor or successors by merger, conversion or consolidation to the Trustee shall succeed to the trusts created by this Indenture any of the Notes shall have been authenticated but not


  

 29 








 
delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee, and deliver such Notes so authenticated;
and in case at that time any of the Notes shall not have been authenticated, any successor to the Trustee may authenticate such Notes either in the name of any predecessor hereunder or in the name of the successor to the Trustee; and in all such
cases such certificates shall have the full force as if such successor Trustee shall had itself authenticated such Notes. 
  
 Section 7.11 Eligibility; Disqualification 
  
 The Trustee shall at all times satisfy the requirements of TIA Section 310(a). The Trustee shall have a combined capital and
surplus of at least $50,000,000 (or, if such person is a member of a bank holding company system, the bank holding company shall have a combined capital and surplus of at least $50,000,000) as set forth in its most recent published annual report of
condition. The Trustee shall comply with TIA Section 310(b); provided, however, that there shall be excluded from the operation of TIA Section 310(b)(1) any indenture or indentures under which other securities or certificates of
interest or participation in other securities of the Company are outstanding if the requirements for such exclusion set forth in TIA Section 310(b)(1) are met. 
  

Section 7.12 Preferential Collection of Claims Against Company 
  
 The Trustee shall comply with TIA Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). A
Trustee who has resigned or been removed shall be subject to TIA Section 311(a) to the extent indicated. 
  
 ARTICLE 8. 
  
 DISCHARGE OF INDENTURE; DEFEASANCE 
  
 Section 8.01 Discharge of Liability on Notes; Defeasance 
  
 (a) When (i) the Company delivers to the Trustee all outstanding Notes (other than Notes replaced pursuant to Section 2.7) for cancellation or (ii) all outstanding Notes have become due and payable or the Notes will
become due and payable at their Stated Maturity within 91 days, and, in each case of this clause (ii), the Company irrevocably deposit or cause to be deposited with the Trustee funds sufficient to pay at maturity all outstanding Notes, including
interest thereon to maturity (other than Notes replaced pursuant to Section 2.7), and if in either case the Company pay all other sums payable hereunder by the Company, then this Indenture shall, subject to Section 8.1(c), cease to be of further
effect. The Trustee shall acknowledge satisfaction and discharge of this Indenture on demand of the Company accompanied by an Officers’ Certificate and an Opinion of Counsel from the Company that all conditions precedent provided herein for
relating to satisfaction and discharge of this Indenture have been complied with and at the cost and expense of the Company. 
  
 (b) Subject to Sections 8.1(c) and 8.2, the Company at any time may terminate (i) all of its obligations under the Notes and this Indenture
(“legal defeasance option”) or (ii) its obligations under Sections 4.2 through 4.6 and the operation of Section 6.1(iii) and Article X (“covenant defeasance option”). The Company may exercise its legal defeasance
option notwithstanding its prior exercise of its covenant defeasance option. 
  
 If the Company exercises its legal defeasance option, payment of the Notes may not be accelerated because of an Event of Default. 
  
 Upon satisfaction of the conditions set forth herein and upon request of the Company, the Trustee shall acknowledge in
writing the discharge of those obligations that the Company terminate. 
  
 (c) Notwithstanding clauses (a) and (b) above, the Company’ obligations in Sections 2.3, 2.4, 2.5, 2.7, 4.1, Sections 4.2 through 4.6, 7.8, 8.4, 8.5, Section 8.6 and Sections 10.1 through 10.6 and 10.15 shall survive until the Notes
have been paid in full. Thereafter, the Company’s obligations in Sections 7.8, 8.4 and 8.5 shall survive. 
  

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 Section 8.02 Conditions to Defeasance 
  
 The Company may exercise the legal defeasance option or the covenant defeasance option only if: 
  
 (i) the Company irrevocably deposits or causes to be
deposited in trust with the Trustee money or U.S. Government Obligations which through the scheduled payment of principal and interest in respect thereof in accordance with their terms will provide cash at such times and in such amounts as will be
sufficient to pay principal and interest when due on all outstanding Notes (except Notes replaced pursuant to Section 2.7) to maturity; 
  
 (ii) the Company delivers to the Trustee a certificate from a nationally recognized firm of independent accountants expressing their
opinion that the payments of principal and interest when due and without reinvestment on the deposited U.S. Government Obligations plus any deposited money without investment will provide cash at such times and in such amounts as will be sufficient
to pay principal and interest when due on all outstanding Notes (except Notes replaced pursuant to Section 2.7) to maturity; 
  
 (iii) 123 days pass after the deposit is made and during the 123-day period no Default specified in Section 6.1(iv) or (v) with respect to
the Company occurs which is continuing at the end of the period; 
  
 (iv) the deposit does not constitute a default under any other material agreement binding on the Company; 
  
 (v) the Company delivers to the Trustee an Opinion of Counsel to the effect that the trust resulting from the deposit does not constitute,
or is qualified as, a regulated investment company under the Investment Company Act of 1940; 
  
 (vi) in the case of the legal defeasance option, the Company shall have delivered to the Trustee an Opinion of Counsel stating that (i)
the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (ii) 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 Noteholders will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit and 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 deposit and defeasance had not occurred; 
  
 (vii) in the case of the covenant defeasance option, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect
that the Noteholders 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 and in the same manner and at the same times as would
have been the case if such deposit and covenant defeasance had not occurred; and 
  
 (viii) the Company delivers to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions
precedent to the defeasance and discharge of the Notes as contemplated by this Article VIII have been complied with. 
  
 Section 8.03 Application of Trust Money 
  
 The Trustee shall hold in trust money or U.S. Government Obligations deposited with it pursuant to this Article VIII. It shall apply the deposited money
and the money from U.S. Government Obligations either directly or through the Paying Agent as the Trustee may determine and in accordance with this Indenture to the payment of principal of and interest on the Notes. 
  
 Money or U.S. Government Obligations deposited and held in trust pursuant to
this Section 8.3 shall not be subject to claims of the holders of Senior Indebtedness or Entitled Persons under Article X. 
  

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 Section 8.04 Repayment to Company 
  
 The Trustee and the Paying Agent shall promptly turn over to the Company upon request any excess money or securities held by
them at any time. 
  
 Subject to any applicable abandoned
property law, the Trustee and the Paying Agent shall pay to the Company upon written request any money held by them for the payment of principal or interest that remains unclaimed for one year after such principal and interest have become due and
payable, and, thereafter, Noteholders entitled to the money must look to the Company for payment as general creditors. 
  
 Section 8.05 Indemnity for Government Obligations 
  
 The Company shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against deposited U.S. Government
Obligations or the principal and interest received on such U.S. Government Obligations other than any such tax, fee or other charge which by law is for the account of the Holders of the defeased Notes; provided that the Trustee shall be
entitled to charge any such tax, fee or other charge to such Holder’s account. 
  
 Section 8.06 Reinstatement 
  
 If the Trustee or
Paying Agent is unable to apply any money or U.S. Government Obligations in accordance with this Article VIII by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or
otherwise prohibiting such application, the Company’s obligations under this Indenture, the Notes shall be revived and reinstated as though no deposit had occurred pursuant to this Article VIII until such time as the Trustee or Paying Agent is
permitted to apply all such money or U.S. Government Obligations in accordance with this Article VIII; provided, however, that, (a) if the Company has made any payment of interest on or principal of any Notes following the
reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money or U.S. Government Obligations held by the Trustee or Paying Agent and (b) unless otherwise required
by any legal proceeding or any order or judgment of any court or governmental authority, the Trustee or Paying Agent shall return all such money and U.S. Government Obligations to the Company promptly after receiving a written request therefor at
any time, if such reinstatement of the Company’s obligations has occurred and continues to be in effect. 
  
 ARTICLE 9. 
  
 AMENDMENTS 
  
 Section 9.01 Without Consent of Holders 

 
 The Company and the Trustee may amend this Indenture or the Notes without
notice to or consent of any Noteholder: 
  
 (i)
to cure any ambiguity, omission, defect or inconsistency; 
  
 (ii) to comply with Article V; 
  
 (iii) to provide for uncertificated Notes in addition to or in place of certificated Notes; 
  
 (iv) to add Guarantees with respect to the Notes; 
  
 (v) to secure the Notes; 
  
 (vi) to add to the covenants of the Company for the benefit of the Noteholders or to surrender any right or
power herein conferred upon the Company; 
  

 32 








 (vii) to add any additional Events of Default for the benefit of the Noteholders;

  
 (viii) to make any change that does not
materially and adversely affect the rights of any Noteholder; or 
  
 (ix) to comply with any requirements of the SEC in connection with qualifying this Indenture under the TIA. 
  
 After an amendment under this Section 9.1 becomes effective, the Company shall mail to Noteholders a notice briefly describing such amendment. The failure
to give such notice to all Noteholders, or any defect therein, shall not impair or affect the validity of an amendment under this Section 9.1. 
  
 Section 9.02 With Consent of Holders 
  
 The Company and the Trustee may amend this Indenture or the Notes without notice to any Noteholder but with the written consent of the Holders of at least
a majority in principal amount at maturity of the Notes then outstanding (including consents obtained in connection with a tender offer or exchange for Notes). However, without the consent of each Noteholder of an outstanding Note affected, an
amendment may not: 
  
 (i) reduce the amount of
Notes whose Holders must consent to an amendment; 
  
 (ii) reduce the rate of or extend the time for payment of interest on any Note; 
  
 (iii) reduce the principal of or extend the Stated Maturity of any Note; 
  
 (iv) make any Note payable in currency other than that stated in the Note; 
  
 (v) impair the right of any Holder to receive payment of
principal of and interest on such Holder’s Notes on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such Holder’s Notes; 
  
 (vi) make any change in this second sentence of Section 9.2;
and 
  
 (vii) make any change in the ranking or
priority of the Notes that would adversely affect the Noteholders. 
  
 It shall not be necessary for the consent of the Holders under this Section 9.2 to approve the particular form of any proposed amendment, but it shall be sufficient if such consent approves the substance thereof. 
  
 After an amendment under this Section 9.2 becomes effective, the Company
shall mail to Noteholders a notice briefly describing such amendment. The failure to give such notice to all Noteholders, or any defect therein, shall not impair or affect the validity of an amendment under this Section 9.2. 
  
 Section 9.03 Compliance with Trust Indenture Act 
  
 Every amendment to this Indenture or the Notes shall comply with the TIA as
then in effect. 
  
 Section 9.04 Revocation and Effect of Consents and
Waivers 
  
 A consent to an amendment or a waiver by a Holder
of a Note shall bind the Holder and every subsequent Holder of that Note or portion of the Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent or waiver is not made on the Note. After an amendment
or waiver becomes effective, it shall bind every Noteholder. 
  
 The Company may, but shall not be obligated to, fix a record date for the purpose of determining the Noteholders entitled to give their consent or take any other action described above or required or permitted to be 

  

 33 








 
taken pursuant to this Indenture. If a record date is fixed, then notwithstanding the immediately preceding paragraph, those Persons who were Noteholders at
such record date (or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any such action, whether or not such Persons continue to be Holders after such
record date. No such consent shall be valid or effective for more than 120 days after such record date. 
  
 Section 9.05 Notation on or Exchange of Notes 
  
 If an amendment changes the terms of a Note, the Trustee may require the Holder of the Note to deliver it to the Trustee. The Trustee may place an appropriate notation on the Note regarding the changed terms and
return it to the Holder. Alternatively, if the Company or the Trustee so determine, the Company in exchange for the Note shall issue and the Trustee shall authenticate a new Note that reflects the changed terms. Failure to make the appropriate
notation or to issue a new Note shall not affect the validity of such amendment. 
  
 Section 9.06 Trustee to Sign Amendments 
  
 The
Trustee shall sign any amendment authorized pursuant to this Article IX if the amendment does not materially and adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may but need not sign it. In
signing such amendment the Trustee shall be entitled to receive indemnity reasonably satisfactory to it and to receive, and (subject to Section 7.1) shall be fully protected in relying upon, in addition to the documents required by Section 10.4, an
Officers’ Certificate and an Opinion of Counsel stating that such amendment complies with the provisions of this Article IX; provided, however, that Holders who do not consent, waive or agree to amend this Indenture in the time
frame set forth in such solicitation documents shall not be entitled to any consideration offered for timely consent, waiver or amendment, even if the consent, waiver or amendment is agreed to by sufficient Holders to approve such consent, waiver or
amendment to this Indenture. 
  
 Section 9.07 Payment for Consent

  
 Neither the Company nor any affiliate of the Company shall,
directly or indirectly, pay or cause to be paid any consideration, whether by way of interest, fee or otherwise, to any Holder for, or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture or the
Notes unless such consideration is offered to be paid to all Holders that so consent, waive or agree to amend in the time frame set forth in solicitation documents relating to such consent, waiver or agreement. 
  
 ARTICLE 10. 
  
 SUBORDINATION OF NOTES 
  
 Section 10.01 Notes Subordinate to Senior Indebtedness. 
  
 The Company covenants and agrees, and each Holder of a Note, by his
acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article, the indebtedness represented by the Notes and the payment of the principal of and interest on each and all of the Notes
are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Indebtedness and, to the extent set forth in Section 10.15, of all Other Financial Obligations. 
  
 Section 10.02 Payment Over of Proceeds Upon Dissolution, Etc. 
  
 In the event of (a) any insolvency or bankruptcy case or proceeding, or any
receivership, liquidation, reorganization or other similar case or proceeding in connection therewith, relative to the Company or to its creditors, as such, or to its assets, or (b) any liquidation, dissolution or other winding up of the Company,
whether voluntary or involuntary and whether or not involving insolvency or bankruptcy, or (c) any assignment for the benefit of creditors or any other marshalling of assets and liabilities of the Company, then and in any such 

  

 34 








 
event the holders of Senior Indebtedness shall be entitled to receive payment in full of all amounts due or to become due on or in respect of all Senior
Indebtedness, or provision shall be made for such payment in money or money’s worth, before the Holders of the Notes are entitled to receive any payment on account of principal of or interest on the Notes, and to that end the holders of Senior
Indebtedness shall be entitled to receive, for application to the payment thereof, any payment or distribution of any kind or character, whether in cash, property or securities, including any such payment or distribution which may be payable or
deliverable by reason of the payment of any other indebtedness of the Company being subordinated to the payment of the Notes, which may be payable or deliverable in respect of the Notes in any such case, proceeding, dissolution, liquidation or other
winding up or event. 
  
 In the event that, notwithstanding the
foregoing provisions of this Section 10.2, the Trustee or the Holder of any Note shall have received any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities, including any such payment
or distribution which may be payable or deliverable by reason of the payment of any other indebtedness of the Company being subordinated to the payment of the Notes, before all Senior Indebtedness is paid in full or payment thereof provided for, and
if such fact shall, at or prior to the time of such payment or distribution, have been made known to a Trust Officer of the Trustee or, as the case may be, such Holder, then and in such event such payment or distribution shall be paid over or
delivered forthwith to the trustee in bankruptcy, receiver, liquidating trustee, custodian, assignee, agent or other Person making payment or distribution of assets of the Company for application to the payment of all Senior Indebtedness remaining
unpaid, to the extent necessary to pay all Senior Indebtedness in full, after giving effect to any concurrent payment or distribution to or for the holders of Senior Indebtedness. 
  
 For purposes of this Article X only, the words “cash, property or securities” shall not be deemed to include
shares of stock of the Company as reorganized or readjusted, or securities of the Company or any other corporation provided for by a plan of reorganization or readjustment which are subordinated in right of payment to all Senior Indebtedness which
may at the time be outstanding to substantially the same extent as, or to a greater extent than, the Notes are so subordinated as provided in this Article X. The consolidation of the Company with, or the merger of the Company into, another Person or
the liquidation or dissolution of the Company following the conveyance or transfer of its properties and assets substantially as an entirety to another Person upon the terms and conditions set forth in Article V shall not be deemed a dissolution,
winding up, liquidation, reorganization, assignment for the benefit of creditors or marshalling of assets and liabilities of the Company for the purposes of this Section 10.2 if the Person formed by such consolidation or into which the Company is
merged or the Person which acquires by conveyance or transfer such properties and assets substantially as an entirety, as the case may be, shall, as a part of such consolidation, merger, conveyance or transfer, comply with the conditions set forth
in Article V. 
  
 Section 10.03 Prior Payment to Senior Indebtedness Upon
Acceleration of Notes.  
  
 In the event that any Notes are
declared due and payable before their Stated Maturity, then and in such event the holders of Senior Indebtedness outstanding at the time such Notes become so due and payable shall be entitled to receive payment in full of all amounts due or to
become due on or in respect of all Senior Indebtedness or provision shall be made for such payment in money or money’s worth, before the Holders of the Notes are entitled to receive any payment (including any payment which may be payable by
reason of the payment of any other indebtedness of the Company being subordinated to the payment of the Notes) by the Company on account of the principal of or interest on the Notes or on account of the purchase or other acquisition of Notes.

  
 In the event that, notwithstanding the foregoing, the Company
shall make any payment to the Trustee or the Holder of any Note prohibited by the foregoing provisions of this Section 10.3, and if such fact shall, at or prior to the time of such payment, have been made known to a Trust Officer of the Trustee or,
as the case may be, such Holder, then and in such event such payment shall be paid over and delivered forthwith to the Company. 
  
 The provisions of this Section shall not apply to any payment with respect to which Section 10.2 would be applicable. 
  

 35 








 Section 10.04 No Payment When Senior Indebtedness in Default. 
  
 (a) In the event and during the continuation of any default in the payment
of principal of or interest on any Senior Indebtedness beyond any applicable grace period with respect thereto, or in the event that any event of default with respect to any Senior Indebtedness shall have occurred and be continuing permitting the
holders of such Senior Indebtedness (or a trustee on behalf of the holders thereof) to declare such Senior Indebtedness due and payable prior to the date on which it would otherwise have become due and payable, unless and until such event of default
shall have been cured or waived or shall have ceased to exist and such acceleration shall have been rescinded or annulled, or (b) in the event any judicial proceeding shall be pending with respect to any such default in payment or event of default,
then no payment (including any payment which may be payable by reason of the payment of any other indebtedness of the Company being subordinated to the payment of the Notes) shall be made by the Company on account of principal of or interest on the
Notes or on account of the purchase or other acquisition of Notes. 
  
 In the event that, notwithstanding the foregoing, the Company shall make any payment to the Trustee or the Holder of any Note prohibited by the foregoing provisions of this Section 10.4, and if such fact shall, at or prior to the time of
such payment, have been made known to a Trust Officer of the Trustee or, as the case may be, such Holder, then and in such event such payment shall be paid over and delivered forthwith to the Company. 
  
 The provisions of this Section shall not apply to any payment with respect to
which Section 10.2 would be applicable. 
  
 Section 10.05 Payment Permitted in
Certain Situations. 
  
 Nothing contained in this Article X
or elsewhere in this Indenture or in any of the Notes shall prevent (a) the Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other
marshalling of assets and liabilities of the Company referred to in Section 10.2 or under the conditions described in Section 10.3 or 10.4, from making payments at any time of principal of or interest on the Notes or (b) the application by the
Trustee of any money deposited with it hereunder to the payment of or on account of the principal of or interest on the Notes of any series or the retention of such payment by the Holder, if, at the time of such application by the Trustee, it did
not have actual knowledge that such payment would have been prohibited by the provisions of this Article X. 
  
 Section 10.06 Subrogation to Rights of Holders of Senior Indebtedness. 
  
 Subject to the payment in full of all Senior Indebtedness, the Holders of the Notes shall be subrogated to the extent of the payments or distributions
made to the holders of such Senior Indebtedness pursuant to the provisions of this Article X to the rights of the holders of such Senior Indebtedness to receive payments and distributions of cash, property and securities applicable to the Senior
Indebtedness until the principal of and interest on the Notes shall be paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Indebtedness of any cash, property or securities to which the Holders of
the Notes or the Trustee would be entitled except for the provisions of this Article X, and no payments over pursuant to the provisions of this Article to the holders of Senior Indebtedness by Holders of the Notes or the Trustee, shall, as among the
Company, its creditors other than holders of Senior Indebtedness and the Holders of the Notes, be deemed to be a payment or distribution by the Company to or on account of the Senior Indebtedness. 
  
 Section 10.07 Provisions Solely to Define Relative Rights. 
  
 The provisions of this Article X are and are intended solely for the purpose
of defining the relative rights of the Holders of the Notes on the one hand and the holders of Senior Indebtedness (and, in the case of Section 10.15, Entitled Persons in respect of Other Financial Obligations) on the other hand. Nothing contained
in this Article X or elsewhere in this Indenture or in the Notes is intended to or shall (a) impair, as among the 

  

 36 








 
Company, its creditors other than holders of Senior Indebtedness and other than Entitled Persons in respect of Other Financial Obligations and the Holders of
the Notes, the obligation of the Company, which is absolute and unconditional (and which, subject to the rights under this Article X of the holders of Senior Indebtedness and Entitled Persons in respect of Other Financial Obligations, is intended to
rank equally with all other general obligations of the Company), to pay to the Holders of the Notes the principal of and interest on the Notes as and when the same shall become due and payable in accordance with their terms; or (b) affect the
relative rights against the Company of the Holders of the Notes and creditors of the Company other than the holders of Senior Indebtedness and Entitled Persons in respect of Other Financial Obligations; or (c) prevent the Trustee or the Holder of
any Note from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article X of the holders of Senior Indebtedness and under Section 10.15 of Entitled Persons in
respect of Other Financial Obligations, to receive cash, property and securities otherwise payable or deliverable to the Trustee or such Holder. 
  
 Section 10.08 Trustee to Effectuate Subordination. 
  
 Each Holder of a Note by his acceptance thereof authorizes and directs the Trustee on his behalf to take such action as may be necessary or appropriate to
effectuate the subordination provided in this Article X and appoints the Trustee his attorney-in-fact for any and all such purposes. 
  
 Section 10.09 No Waiver of Subordination Provisions. 
  
 No right of any present or future holder of any Senior Indebtedness to enforce subordination as herein provided shall at any time in any way be prejudiced
or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any non-compliance by the Company with the terms, provisions and covenants of this Indenture, regardless of
any knowledge thereof any such holder may have or be otherwise charged with. 
  
 Without in any way limiting the generality of the foregoing paragraph, the holders of Senior Indebtedness (and Entitled Persons in respect of Other Financial Obligations) may, at any time and from time to time,
without the consent of or notice to the Trustee or the Holders of the Notes, without incurring responsibility to the Holders of the Notes and without impairing or releasing the subordination provided in this Article X or the obligations hereunder of
the Holders of the Notes to the holders of Senior Indebtedness and Entitled Persons, in respect of Other Financial Obligations, do any one or more of the following: (i) change the manner, place or terms of payment or extend the time of payment of,
or renew or alter, Senior Indebtedness or Other Financial Obligations, or otherwise amend or supplement in any manner Senior Indebtedness or Other Financial Obligations or any instrument evidencing the same or any agreement under which Senior
Indebtedness is or Other Financial Obligations are outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Indebtedness or Other Financial Obligations; (iii) release any Person
liable in any manner for the collection of Senior Indebtedness or Other Financial Obligations; and (iv) exercise or refrain from exercising any rights against the Company and any other Person. 
  
 Section 10.10 Notice to Trustee. 
  
 The Company shall give prompt written notice to a Trust Officer of the
Trustee of any fact known to the Company which would prohibit the making of any payment to or by the Trustee in respect of the Notes. Notwithstanding the provisions of this Article X or any other provision of this Indenture, the Trustee shall not be
charged with knowledge of the existence of any facts which would prohibit the making of any payment to or by the Trustee in respect of the Notes, unless and until a Trust Officer of the Trustee shall have received written notice thereof from the
Company or a holder of Senior Indebtedness or from any trustee therefor or from any Entitled Persons in respect of Other Financial Obligations; and, prior to the receipt of any such written notice, the Trustee, subject to the provisions of Section
7.01, shall be entitled in all respects to assume that no such facts exist; provided, however, that if the Trustee shall not have received the notice provided for in this Section 10.10 

  

 37 








 
at least two Business Days prior to the date upon which by the terms hereof any money may become payable for any purpose (including, without limitation, the
payment of the principal or interest on any security) then notwithstanding anything to the contrary herein, the Trustee shall have full power and authority to receive such money and to apply the same to the purpose for which such money was received
and shall not be affected by any notice to the contrary which may be received by it within two Business Days prior to such date. 
  
 Subject to the provisions of Section 7.01, the Trustee shall be entitled to rely on the delivery to it of a written notice by a Person representing
himself to be a holder of Senior Indebtedness (or a trustee therefor) or an Entitled Person in respect of Other Financial Obligations to establish that such notice has been given by a holder of Senior Indebtedness (or a trustee therefor) or an
Entitled Person in respect of Other Financial Obligations. In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder of Senior Indebtedness or an Entitled Person in
respect of Other Financial Obligations to participate in any payment or distribution pursuant to this Article X, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior
Indebtedness or other Financial Obligations held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and any other facts pertinent to the rights of such Person under this Article X, and if such
evidence is not furnished, the Trustee may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment. 
  
 Section 10.11 Reliance on Judicial Order or Certificate of Liquidating Agent. 
  
 Upon any payment or distribution of assets of the Company referred to in
this Article X, the Trustee, subject to the provisions of Section 7.01, and the Holders of the Notes shall be entitled to rely upon any order or decree entered by any court of competent jurisdiction in which such insolvency, bankruptcy,
receivership, liquidation, reorganization, dissolution, winding up or similar case or proceeding is pending, or a certificate of the trustee in bankruptcy, receiver, liquidating trustee, custodian, assignee for the benefit of creditors, agent or
other Person making such payment or distribution, delivered to a Trust Officer of the Trustee or to the Holders of Notes, for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the holders of Senior
Indebtedness and other indebtedness of the Company and the Entitled Persons in respect of Other Financial Obligations, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or
to this Article X. 
  
 Section 10.12 Trustee Not Fiduciary for Holders of
Senior Indebtedness or Entitled Persons.  
  
 The Trustee
shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness or Entitled Persons in respect of Other Financial Obligations and shall not be liable to any such holders or creditors if it shall in good faith mistakenly pay over
or distribute to Holders of Notes or to the Company or to any other Person cash, property or securities to which any holders of Senior Indebtedness or Entitled Persons in respect of Other Financial Obligations shall be entitled by virtue of this
Article X or otherwise. 
  
 Section 10.13
Rights of Trustee as Holder of Senior Indebtedness or Entitled Person; Preservation of Trustee’s Rights. 
  
 The Trustee in its individual capacity shall be entitled to all the rights set forth in this Article with respect to any Senior Indebtedness which may at
any time be held by it and with respect to any Other Financial Obligations owed to the Trustee as an Entitled Person, to the same extent as any other holder of Senior Indebtedness or Entitled Person in respect of Other Financial Obligations, as the
case may be, and nothing in this Indenture shall deprive the Trustee of any of its rights as such holder or Entitled Person. 
  
 Nothing in this Article shall apply to claims of, or payments to, the Trustee under or pursuant to Section 7.8. 
  

 38 








 Section 10.14 Article Applicable to Paying Agents. 
  
 In case at any time any Paying Agent other than the Trustee shall have been
appointed by the Company and be then acting hereunder, the term “Trustee” as used in this Article X shall in such case (unless the context otherwise requires) be construed as extending to and including such Paying Agent within its meaning
as fully for all intents and purposes as if such Paying Agent were named in this Article X in addition to or in place of the Trustee; provided, however, that Section 10.13 shall not apply to the Company or any Affiliate of the Company
if it or such Affiliate acts as Paying Agent. 
  
 Section 10.15 Notes to Rank Pari Passu with All Other Notes; Payment of Proceeds in Certain Cases. 
  
 (a) Subject to the provisions of this Section 10.15, the Notes shall rank pari passu in right of payment with all other Notes. 
  
 (b) Upon the occurrence of any of the events specified in clauses (a), (b)
and (c) of the first paragraph of Section 10.2, the provisions of Section 10.2 shall be given effect to determine the amount of cash, property or securities which may be payable or deliverable as between the holders of Senior Indebtedness, on the
one hand, and the Holders of Notes, on the other hand. 
  
 (c) If,
after giving effect to the provisions of Section 10.2 and Section 10.6, any amount of cash, property or securities shall be available for payment or distribution in respect of the Notes (“Excess Proceeds”), and any Entitled Persons in
respect of Other Financial Obligations shall not have received payment in full of all amounts due or to become due on or in respect of such Other Financial Obligations (and provision shall not have been made for such payment in money or money’s
worth), then such Excess Proceeds shall first be applied (ratably with any amount of cash, property or securities available for payment or distribution in respect of any other indebtedness of the Company that by its express terms provides for the
payment over of amounts corresponding to Excess Proceeds to Entitled Persons in respect of Other Financial Obligations) to pay or provide for the payment of the Other Financial Obligations remaining unpaid, to the extent necessary to pay all Other
Financial Obligations in full, after giving effect to any concurrent payment or distribution to or for Entitled Persons in respect of Other Financial Obligations. Any Excess Proceeds remaining after the payment (or provision for payment) in full of
all Other Financial Obligations shall be available for payment or distribution in respect of the Notes. 
  
 (d) In the event that, notwithstanding the foregoing provisions of subsection (c) of this Section 10.15, after the occurrence of any of the events
specified in clauses (a), (b) and (c) of the first paragraph of Section 10.2, the Trustee or Holder of any Note shall have received any payment or distribution of assets of the Company of any kind or character, whether in cash, property or
securities, before Senior Indebtedness and all Other Financial Obligations are paid in full or payment thereof duly provided for, and if such fact shall, at or prior to the time of such payment or distribution, have been made known to a Trust
Officer of the Trustee or, as the case may be, such Holder, then and in such event, subject to any obligation that the Trustee or such Holder may have pursuant to Section 10.2, such payment or distribution shall be paid over or delivered forthwith
to the trustee in bankruptcy, receiver, liquidating trustee, custodian, assignee, agent or other Person making payment or distribution of assets of the Company for payment in accordance with subsection (c). 
  
 (e) Subject to the payment in full of all Other Financial Obligations, the
Holders of the Notes shall be subrogated (equally and ratably with the holders of all indebtedness of the Company that by its express terms provides for the payment over of amounts corresponding to Excess Proceeds to Entitled Persons in respect of
Other Financial Obligations and is entitled to like rights of subrogation) to the extent of the payments or distributions made to Entitled Persons in respect of Other Financial Obligations pursuant to subsection (c) or (d) of this Section 10.15 to
the rights of the Entitled Persons in respect of Other Financial Obligations to receive payments and distributions of cash, property and securities applicable to the Other Financial Obligations until the principal of and interest on the Notes shall
be paid in full. For purposes of such subrogation, no payments or distributions to Entitled Persons in respect of Other Financial Obligations of any cash, property or securities to 

  

 39 








 
which Holders of the Notes or the Trustee would be entitled except for the provisions of this Section 10.15, and no payments over pursuant to the provisions
of this Section 10.15 to Entitled Persons in respect of Other Financial Obligations by Holders of Notes or the Trustee, shall, as among the Company, its creditors other than Entitled Persons in respect of Other Financial Obligations and the Holders
of Notes be deemed to be a payment or distribution by the Company to or on account of the Other Financial Obligations. 
  
 (f) The provisions of subsections (c), (d) and (e) of this Section 10.15 are and are intended solely for the purpose of defining the relative rights of
the Holders of the Notes, on the one hand, and the Entitled Persons in respect of Other Financial Obligations, on the other hand, after giving effect to the rights of the holders of Senior Indebtedness, as provided in this Article. Nothing contained
in subsections (c), (d) and (e) of this Section 10.15 is intended to or shall affect the relative rights against the Company of the Holders of the Notes and creditors of the Company other than Entitled Persons in respect of Other Financial
Obligations. 
  
 ARTICLE 11. 
  
 MISCELLANEOUS 
  
 Section 11.01 Trust Indenture Act Controls 
  
 If any provision of this Indenture limits, qualifies or conflicts with
another provision which is required to be included in this Indenture by the TIA, the provision required by the TIA shall control. 
  
 Section 11.02 Notices 
  
 Any notice or communication shall be in writing and be effective upon receipt or refusal of delivery at the following addresses: 
  
 if to the Company: 
  
 Hibernia Corporation 
 313 Carondelet Street, 4th Floor 
 New Orleans, LA 70130 
 Attention: Chief Financial Officer 
 Facsimile: 504-533-2367 
 with a copy to: 
  
 Hibernia Corporation 
 313 Carondelet St.,
4th Floor 
 New Orleans, LA 70130 
 Attention: Alan M. Ganucheau 
 Facsimile: (504) 533-2132 
  
 if
to the Trustee: 
  
 The Bank of New York Trust Company, N.A.

 10161 Centurion Parkway 
 Jacksonville, Florida 32256 
 Attention: Corporate Trust Trustee Administration 
 Facsimile: (904) 645-1921 
  
 The Company or the Trustee by notice to the others may designate additional or different addresses for subsequent notices or communications. 

 

 40 








 Any notice or communication mailed to a Noteholder shall be mailed to the Noteholder at the
Noteholder’s address as it appears on the registration books of the Registrar and shall be sufficiently given if so mailed within the time prescribed. 
  
 Failure to mail a notice or communication to a Noteholder or any defect in it shall not affect its sufficiency with respect to other Noteholders. If a
notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it. 
  
 Section 11.03 Communication by Holders with Other Holders 
  
 Noteholders may communicate pursuant to TIA Section 312(b) with other Noteholders with respect to their rights under this
Indenture or the Notes. The Company, the Trustee, the Registrar and anyone else shall have the protection of TIA Section 312(c). 
  
 Section 11.04 Certificate and Opinion as to Conditions Precedent 
  
 Upon any request or application by the Company to the Trustee to take or refrain from taking any action under this
Indenture, the Company shall furnish to the Trustee: 
  
 (i) an Officers’ Certificate in form and substance reasonably satisfactory to the Trustee stating that, in the opinion of the signer, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have
been complied with; and 
  
 (ii) an Opinion of
Counsel in form and substance reasonably satisfactory to the Trustee stating that, in the opinion of such counsel, all such conditions precedent have been complied with. 
  
 Section 11.05 Statements Required in Certificate or Opinion 
  
 Each certificate or opinion with respect to compliance with a covenant or
condition provided for in this Indenture shall include: 
  
 (i) a statement that the individual 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 individual, 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 individual, such covenant or condition has been complied with. 
  
 Section 11.06 When Notes Disregarded 
  
 In determining whether the Holders of the required principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Company or by any Person directly or indirectly controlling or
controlled by or under direct or indirect common control with the Company shall be disregarded and deemed not to be outstanding, except that, for the purpose of determining whether the Trustee shall be protected in relying on any such direction,
waiver or consent, only Notes which a Trust Officer of the Trustee knows are so owned shall be so disregarded. Also, subject to the foregoing, only Notes outstanding at the time shall be considered in any such determination. 
  

 41 








 Section 11.07 Rules by Trustee, Paying Agent and Registrar 
  
 The Trustee may make reasonable rules for action by or at a meeting of
Noteholders. The Registrar and the Paying Agent may make reasonable rules for their functions. 
  
 Section 11.08 Legal Holidays 
  
 A “Legal Holiday” is a Saturday, a Sunday or a day on which banking institutions are not required to be open in the State of New York or the
State of Louisiana. If a payment date is a Legal Holiday, payment shall be made on the next succeeding day that is not a Legal Holiday, and no interest shall accrue on such payment for the intervening period. If a regular record date is a Legal
Holiday, the record date shall not be affected. 
  
 Section 11.09 GOVERNING
LAW. THIS INDENTURE AND THE NOTES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
  
 Section 11.10 No Recourse Against Others 
  

No director, officer, employee, member, incorporator or stockholder of the Company, as such, shall have any liability for any obligations of the
Company under the Notes, this Indenture or for any claim based on, in respect of, or by reason of such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. This waiver and release are part
of the consideration for issuance of the Notes. 
  
 Section 11.11 Successors 
  
 All agreements of
the Company in this Indenture and the Notes shall bind its successors. All agreements of the Trustee in this Indenture shall bind its successors. 
  
 Section 11.12 Multiple Originals 
  
 The parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same agreement.
One signed copy is enough to prove this Indenture. 
  
 Section 11.13 Qualification of Indenture 
  
 The
Company shall qualify this Indenture under the TIA in accordance with the terms and conditions of the Registration Rights Agreement and shall pay all reasonable costs and expenses (including attorneys’ fees for the Company, the Trustee and the
Holders) incurred in connection therewith, including, but not limited to, costs and expenses of qualification of this Indenture and the Notes. The Trustee shall be entitled to receive from the Company any such Officers’ Certificates, Opinions
of Counsel or other documentation as it may reasonably request in connection with any such qualification of this Indenture under the TIA. 
  
 Section 11.14 Table of Contents; Cross-Reference Sheet; Headings 
  
 The table of contents, cross-reference sheet and headings of the Articles and Sections of this Indenture have been inserted
for convenience of reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions hereof. 
  
 Section 11.15 Severability 
  
 In case any provision in this Indenture or in the Notes shall be invalid, illegal or unenforceable, in any respect for any reason, the validity, legality
and enforceability of any such provision in every other respect and of the remaining provisions shall not in any way be affected or impaired thereby. 
  

 42 








 IN WITNESS WHEREOF, the parties have caused this Indenture to be duly executed as of the date first
written above. 
  

					
	 HIBERNIA CORPORATION

		
	 By:
	 	 /s/    Marsha M. Gassan


	 	 	 Name: Marsha M. Gassan

	 	 	 Title: Chief Financial Officer

	
	 The Bank of New York Trust Company, N.A.,
 as
Trustee

		
	 By:
	 	 /s/    William Cardozo


	 	 	 Name: William Cardozo

	 	 	 Title: Vice President



  

 43 








 EXHIBIT A 
  
 (Face of Note) 
  
 [Insert the Global Note Legend, if applicable pursuant to the provisions of the Indenture] 
 [Insert the Private Placement Legend, if applicable pursuant to the provisions of the 
 Indenture] 
  
 HIBERNIA CORPORATION

  
 No.
             
  
 Principal Amount $             
  
 CUSIP NO.                      
  
 5.35% Subordinated Notes due May 1, 2014 
  
 Hibernia Corporation, a Louisiana corporation, promises to pay to Cede & Co., or registered assigns, the principal sum
of                      Dollars on May 1, 2014. 
  
 Interest Payment Dates: May 1 and November 1. 
  
 Record Dates: April 15 and October 15. 
  
 Additional provisions of this Note are set forth on the other side of this Note. 
  
 Dated: 
  

			
	 HIBERNIA CORPORATION

		
	 By:
	 	  


	
	  


	 	 	 Name:

	 	 	 Title:



  
 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
  
 This is one of the Notes 
 referred to in the Indenture. 
  
 The Bank of New York Trust Company, N.A., as Trustee

  

			
	 By:
	 	  


	 	 	 Authorized Signatory


  

 1 








 (Reverse of Note) 
  

5.35% Subordinated Notes due May 1, 2014 
  

	1.	Interest 

  
 Hibernia Corporation, a Louisiana corporation (the “Company”), promises to pay interest on the principal amount of this Note at the rate per annum shown above; provided, however, that if a Registration
Default (as defined in the Registration Rights Agreement) occurs, additional cash interest will accrue on this Note at a rate of 0.50% per annum from and including the date on which any such Registration Default shall occur to but excluding the date
on which all such Registration Defaults have been cured, calculated on the principal of this Note as of the date on which such interest is payable. Such interest is payable in addition to any other interest payable from time to time with respect to
this Note. The Trustee will not be deemed to have notice of a Registration Default until it shall have received actual notice of such Registration Default from the Company. 
  
 The Company shall pay accrued interest semi-annually on each May 1 and November 1, commencing November 1, 2004 or if any
such day is not a Business Day (as defined in the Indenture referred to below), on the next Business Day. The Company shall pay interest on overdue principal at 1% per annum in excess of the rate borne by the Notes to the extent lawful. Interest
will be computed on the basis of a 360-day year of twelve 30-day months. 
  

	2.	Method of Payment 

  
 By at least 10:00 a.m. New York City Time on the date on which any principal of or interest on any Note is due and payable, the Company shall irrevocably
deposit with the Trustee or the Paying Agent money (in funds which are immediately available) sufficient to pay such principal and/or interest. The Company will pay interest (except defaulted interest) to the Persons who are registered Holders of
Notes at the close of business on April 15 or October 15 next preceding the interest payment date even if Notes are cancelled, repurchased or redeemed after the record date and on or before the interest payment date. Holders must surrender Notes to
a Paying Agent to collect principal payments. The Company will pay principal and interest in money of the United States that at the time of payment is legal tender for payment of public and private debts by wire transfer of immediately available
funds to the U.S. dollar accounts with a bank in the United States specified by the Holder hereof or, if no such account is specified, by mailing a check to the Holder’s registered address. 
  

	3.	Paying Agent and Registrar 

  
 Initially, The Bank of New York Trust Company, N.A. will act as Paying Agent and Registrar. The Company may appoint and change any Paying Agent, Registrar
or co-registrar without notice to any Noteholder. The Company or any of its Subsidiaries may act as Paying Agent. 
  

	4.	Indenture 

  
 The Company is issuing the Notes under an Indenture dated as of April 26, 2004 (as it may be amended or supplemented from time to time in accordance with the terms thereof, the “Indenture”), between the
Company and The Bank of New York Trust Company, N.A., a banking corporation (“the Trustee”). The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939,
as amended (15 U.S.C. Sections 77aaa-77bbbb) as in effect on the date of the Indenture (the “TIA”). Capitalized terms used herein and not defined herein have the meanings ascribed thereto in the Indenture. The Notes are subject to all such
terms, and Noteholders are referred to the Indenture and the TIA for a statement of those terms. 
  

 2 








 The Notes are unsecured, subordinated obligations of the Company limited to $100,000,000 aggregate
principal amount (subject to Section 2.1(a) of the Indenture, which, inter alia, allows for the issuance of Additional Notes in some circumstances). 
  
 The Notes include the Initial Notes, any Private Exchange Note and Exchange Notes issued in exchange for the Initial Notes pursuant to the Indenture and
the Registration Rights Agreement, and any Additional Notes actually issued. The Initial Notes, the Private Exchange Notes, the Exchange Notes and any Additional Notes actually issued are treated as a single class of securities under the Indenture.

  

	5.	Subordination 

  
 The Company covenants and agrees, and each Holder of a Note, by his acceptance thereof, likewise covenants and agrees, that, to the extent and in the
manner set forth in Article X of the Indenture, the indebtedness represented by the Notes and the payment of principal of and interest on each and all of the Notes are hereby expressly made subordinate and subject in right of payment to the prior
payment in full of all Senior Indebtedness and Other Financial Obligations. 
  

	6.	Registration Rights 

  
 The Company is party to a Registration Rights Agreement, dated as of April 26, 2004 (the “Registration Rights Agreement”), among the Company,
Credit Suisse First Boston LLC, Keefe, Bruyette & Woods, Inc. and Hibernia Southcoast Capital, Inc. pursuant to which they are obligated to pay additional interest upon the occurrence of certain Registration Defaults (as defined therein).

  

	7.	Denominations; Transfer; Exchange 

  
 The Notes are in registered form without coupons in denominations of principal amount of $1,000 and whole multiples of $1,000. A Holder may register,
transfer or exchange Notes in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements or transfer documents and to pay any taxes and fees required by law or permitted by the
Indenture. The Registrar need not register the transfer of or exchange any Notes for a period beginning on a record date and ending on the next succeeding interest payment date. 
  

	8.	Persons Deemed Owners 

  
 The registered holder of this Note may be treated as the owner of it for all purposes. 
  

	9.	Unclaimed Money 

  
 If money for the payment of principal or interest remains unclaimed for one year after the date of payment of principal and interest, the Trustee or
Paying Agent shall pay the money back to the Company at its request unless an abandoned property law designates another Person. After any such payment, Holders entitled to the money must look only to the Company and not to the Trustee for payment.

  

	10.	Defeasance 

  
 Subject to certain conditions set forth in the Indenture, the Company at any time may terminate some or all of its obligations under the Notes and the Indenture if the Company deposits with the Trustee money or U.S.
Government Obligations for the payment of principal of and interest on the Notes to maturity. 
  

	11.	Amendment, Waiver 

  
 Subject to certain exceptions set forth in the Indenture, (i) the Indenture or the Notes may be amended with the written consent of the Holders of at
least a majority in principal amount at maturity of the outstanding 

  

 3 








 
Notes and (ii) any default or noncompliance with any provision may be waived with the written consent of the Holders of a majority in principal amount at
maturity of the outstanding Notes. Subject to certain exceptions set forth in the Indenture, without the consent of any Noteholder, the Company and the Trustee may amend the Indenture or the Notes to cure any ambiguity, omission, defect or
inconsistency; to comply with Article V of the Indenture; to provide for uncertificated Notes in addition to or in place of certificated Notes; to add guarantees with respect to the Notes or to secure the Notes; to add additional covenants of or
surrender rights and powers conferred on the Company; to add any additional Events of Default for the benefit of the Noteholders; to make any change that does not materially and adversely affect the rights of any Noteholder; or to comply with any
request of the SEC in connection with qualifying the Indenture under the TIA. 
  

	12.	Defaults and Remedies 

  
 Under the Indenture, Events of Default include (i) default in the payment of any interest upon any Note when it becomes due and payable, and continuance
of such default for a period of 30 days, (ii) default in the payment of the principal of any Notes at its Stated Maturity, (iii) default in the performance, or breach, of any other covenant or warranty of the Company in the Indenture, and
continuance of such default or breach for a period of 60 days after notice, (iv) certain events of bankruptcy, insolvency or reorganization of the Company. Certain events of bankruptcy, insolvency or reorganization are Events of Default that will
result in the Notes being due and payable immediately upon the occurrence of such Events of Default. 
  
 Noteholders may not enforce the Indenture or the Notes except as provided in the Indenture. The Trustee may refuse to enforce the Indenture or the Notes
unless it receives reasonable indemnity or security. Subject to certain limitations, Holders of a majority in principal amount of the Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Noteholders
notice of any continuing Default or Event of Default (except a Default or Event of Default in payment of principal or interest) if it determines that withholding notice is not opposed to their interest. 
  

	13.	Trustee Dealings with the Company 

  
 Subject to certain limitations set forth in the Indenture, the Trustee under the Indenture, in its individual or any other capacity, may become the owner
or pledgee of Notes and may otherwise deal with and collect obligations owed to it by the Company or its Affiliates and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not Trustee. 
  

	14.	No Recourse Against Others 

  
 No director, officer, employee, member, incorporator or stockholder of the Company, as such, shall have any liability for any obligations of the Company
under the Notes or the Indenture or for any claim based on, in respect of, or by reason of such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. This waiver and release are part of the
consideration for issuance of the Notes. 
  

	15.	Authentication 

  
 This Note shall not be valid until an authorized signatory of the Trustee (or an authenticating agent acting on its behalf) manually signs the certificate
of authentication on the other side of this Note. 
  

	16.	Abbreviations 

  
 Customary abbreviations may be used in the name of a Noteholder or an assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the entirety),
JT TEN (=joint tenants with rights of survivorship and not as tenants in common), CUST (=custodian) and U/G/M/A (=Uniform Gift to Minors Act). 
  

 4 









	17.	CUSIP Numbers 

  
 Pursuant to a recommendation promulgated by the Committee on Uniform Note Identification Procedures the Company has caused CUSIP numbers to be printed on
the Notes and have directed the Trustee to use CUSIP numbers in notices to Noteholders as a convenience to Noteholders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any such notice
and reliance may be placed only on the other identification numbers placed thereon. 
  

	18.	GOVERNING LAW 

  
 THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
  

 5 








 ASSIGNMENT FORM 
  

	
	 To assign this Note, fill in the form below:

	
	 I or we assign and transfer this Note to:

	
	

	
	

	
	


  
 (Print or type
assignee’s name, address and zip code) 
  
 (Insert
assignee’s soc. sec. or tax I.D. No.) 
  
 and irrevocably appoint
                     as agent to transfer this Note on the books of the Company. The agent may substitute another to act for him. 
  

  

			
	 Date:

	  	Your Signature:
		
	
	  	 
		
	 	  	 Sign exactly as your name appears on
 the face of this Note.


  
 Signature Guarantee:  

	 	


  
 (Signature must be guaranteed by a participant in a recognized Signature Guarantee Medallion Program or other signature guarantor program reasonably acceptable to the Trustee) 
  

 6 








 [TO BE ATTACHED TO GLOBAL NOTES] 
  
 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 
  
 The following increases or decreases in this Global Note have been made: 
  

									
	 Date of Exchange

	 	Amount of
decrease in
Principal Amount
of this Global
Note

	  	Amount of
increase in
Principal Amount
of this Global
Note

	  	Principal Amount of
this Global Note
following such
decrease or increase

	  	Signature of
authorized officer
of Trustee or Notes
Custodian



  

 7 








 EXHIBIT B 
  
 FORM OF CERTIFICATE OF TRANSFER 
  
 Hibernia Corporation 
 313 Carondelet Street, 4th Floor 
 New Orleans, LA 70130 
 Attention: Chief Financial Officer 
  
 The Bank of New York Trust Company, N.A. 
 10161 Centurion Parkway 
 Jacksonville, Florida 32256 
 Attention: Corporate Trust Trustee Administration 
  
 Re: 5.35% Subordinated Notes due May 1, 2014 
  
 Reference is hereby made to the Indenture, dated as of April 26, 2004 (the “Indenture”), between Hibernia Corporation (the “Company”) and The Bank of New York Trust Company, N.A., as
trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 
  
                      (the
“Transferor”) owns and proposes to transfer the Note[s] or interest in such Note[s] specified in Annex A hereto, in the principal amount of $             in such Note[s] or
interests (the “Transfer”), to                      (the “Transferee”), as further specified in Annex A hereto. In
connection with the Transfer, the Transferor hereby certifies that: 
  
 [CHECK
ALL THAT APPLY] 
  
 1.  ̈ Check if Transferee will take delivery of a beneficial interest in the 144A Global Note or a Definitive Note Pursuant to Rule
144A. The Transfer is being effected pursuant to and in accordance with Rule 144A under the United States Securities Act of 1933, as amended (the “Securities Act”), and, accordingly, the Transferor hereby further certifies
that the beneficial interest or Definitive Note is being transferred to a Person that the Transferor reasonably believed and believes is purchasing the beneficial interest or Definitive Note for its own account, or for one or more accounts with
respect to which such Person exercises sole investment discretion, and such Person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A in a transaction meeting the requirements of Rule 144A and such
Transfer is in compliance with any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive
Note will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the 144A Global Note and/or the Definitive Note and in the Indenture and the Securities Act. 
  
 2.  ̈ Check if Transferee will take delivery of a beneficial interest in the Regulation S Global Note or a Definitive Note pursuant to Regulation S. The Transfer is being effected
pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and, accordingly, the Transferor hereby further certifies that (i) the Transfer is not being made to a person in the United States and (x) at the time the buy order was
originated, the Transferee was outside the United States or such Transferor and any Person acting on its behalf reasonably believed and believes that the Transferee was outside the United States or (y) the transaction was executed in, on or through
the facilities of a designated offshore securities market and neither such Transferor nor any Person acting on its behalf knows that the transaction was prearranged with a buyer in the United States, (ii) no directed selling efforts have been made
in contravention of the requirements of Rule 903(b) or Rule 904(b) of Regulation S under the Securities Act, (iii) the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act and (iv) if the proposed
transfer is being made prior to the expiration of the Distribution Compliance Period, the transfer is not being made to a U.S. Person or for the account or benefit of a 

  

 B-1 








 
U.S. Person (other than an Initial Purchaser). Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred
beneficial interest or Definitive Note will be subject to the restrictions on Transfer enumerated in the Private Placement Legend printed on the Regulation S Global Note and/or the Definitive Note and in the Indenture and the Securities Act.

  
 3.  ̈ Check and complete if Transferee will take delivery of a beneficial interest in a Definitive Note pursuant to any provision of
the Securities Act other than Rule 144A or Regulation S. The Transfer is being effected in compliance with the transfer restrictions applicable to beneficial interests in Restricted Global Notes and Restricted Definitive Notes and
pursuant to and in accordance with the Securities Act and any applicable blue sky securities laws of any state of the United States, and accordingly the Transferor hereby further certifies that (check one): 
  
 (a)  ̈ such Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act; 
  
 or 
  
 (b)  ̈ such Transfer is being effected to the
Company or any of its subsidiaries; 
  
 or 
  
 (c)  ̈ such Transfer is being effected pursuant to an effective registration statement under the Securities Act and in compliance with the prospectus delivery requirements of the Securities Act. 
  
 4.  ̈ Check if Transferee will take delivery of a beneficial interest in an Unrestricted Global Note or of an Unrestricted Definitive Note. 
  
 (a)  ̈ Check if Transfer is Pursuant to Rule 144. (i) The Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act and in
compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are
not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the
restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive Notes and in the Indenture. 
  

(b)  ̈ Check if
Transfer is Pursuant to Regulation S. (i) The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any
applicable blue sky securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon
consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed
on the Restricted Global Notes, on Restricted Definitive Notes and in the Indenture. 
  
 (c)  ̈ Check if Transfer is Pursuant to Other Exemption. (i) The Transfer is
being effected pursuant to and in compliance with an exemption from the registration requirements of the Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer restrictions contained in the Indenture and any
applicable blue sky securities laws of any State of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon
consummation of the proposed Transfer in accordance with the terms of the 

  

 B-2 








 
Indenture, the transferred beneficial interest or Definitive Note will not be subject to the restrictions on transfer enumerated in the Private Placement
Legend printed on the Restricted Global Notes or Restricted Definitive Notes and in the Indenture. 
  
 This certificate and the statements contained herein are made for your benefit and the benefit of the Company. 
  

			
	

	 [Insert Name of Transferor]

		
	 By:
	 	  


	 	 	 Name:

	 	 	 Title:



  
 Dated:                 ,      
  

 B-3 








 ANNEX A TO CERTIFICATE OF TRANSFER 
  

	1.	The Transferor owns and proposes to transfer the following: 

  
 [CHECK ONE OF (a) OR (b)] 
  

	 	(a)	 ̈ a beneficial interest in the: 

  

	 	(i)	 ̈ 144A Global Note (CUSIP
            ), or 

  

	 	(ii)	 ̈ Regulation S Global Note (CUSIP
            ); or 

  

	 	(b)	 ̈ a Restricted Definitive Note. 

  

	2.	After the Transfer the Transferee will hold: 

  
 [CHECK ONE] 
  

	 	(a)	 ̈ a beneficial interest in the: 

  

	 	(i)	 ̈ 144A Global Note (CUSIP
            ), or 

  

	 	(ii)	 ̈ Regulation S Global Note (CUSIP
            ), or 

  

	 	(iii)	 ̈ Unrestricted Global Note (CUSIP
            ); or 

  

	 	(b)	 ̈ a Restricted Definitive Note; or 

  

	 	(c)	 ̈ an Unrestricted Definitive Note, 

  

	 	    	in accordance with the terms of the Indenture. 

  

 B-4 








 EXHIBIT F 
  
 EXHIBIT C 
  
 FORM OF CERTIFICATE OF EXCHANGE 
  
 Hibernia Corporation 
 313 Carondelet Street, 4th Floor 
 New Orleans, LA 70130 
 Attention: Chief Financial Officer 
  
 The Bank of New York Trust Company, N.A. 
 10161 Centurion Parkway 
 Jacksonville, Florida 32256 
 Attention: Corporate Trust Trustee Administration 
  
 Re: 5.35% Subordinated Notes due May 1, 2014 
  
 Reference is hereby made to the Indenture, dated as of April 26, 2004 (the “Indenture”), between Hibernia Corporation (the “Company”) and The Bank of New York Trust Company, N.A., as
trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 
  
                      (the “Owner”)
owns and proposes to exchange the Note[s] or interest in such Note[s] specified herein, in the principal amount of $             in such Note[s] or interests (the
“Exchange”). In connection with the Exchange, the Owner hereby certifies that: 
  

	1.	Exchange of Restricted Definitive Notes or Beneficial Interests in a Restricted Global Note for Unrestricted Definitive Notes or Beneficial Interests in an Unrestricted Global
Note 

  
 (d)  ̈ Check if Exchange is from beneficial interest in a Restricted Global Note to beneficial interest in an Unrestricted Global Note.
In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a beneficial interest in an Unrestricted Global Note in an equal principal amount, the Owner hereby certifies (i) the beneficial interest is
being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Global Notes and pursuant to and in accordance with the United States Securities
Act of 1933, as amended (the “Securities Act”), (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the
beneficial interest in an Unrestricted Global Note is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 
  
 (e)  ̈ Check if Exchange is from beneficial interest in a Restricted Global Note to Unrestricted Definitive Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted
Global Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the Definitive Note is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer
restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain
compliance with the Securities Act and (iv) the Definitive Note is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 
  
 (f)  ̈
Check if Exchange is from Restricted Definitive Note to beneficial interest in an Unrestricted Global Note. In connection with the Owner’s Exchange of a Restricted Definitive Note for a beneficial interest in an
Unrestricted Global Note, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer 

  

 F-1 








 
restrictions applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer
contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest is being acquired in compliance with any applicable blue sky securities laws of any
state of the United States. 
  
 (g)  ̈ Check if Exchange is from Restricted Definitive Note to Unrestricted Definitive Note. In connection with the Owner’s Exchange
of a Restricted Definitive Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the Unrestricted Definitive Note is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in
compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not
required in order to maintain compliance with the Securities Act and (iv) the Unrestricted Definitive Note is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 
  

	2.	Exchange of Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes for Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes


  
 (h)  ̈ Check if Exchange is from beneficial interest in a Restricted Global Note to Restricted Definitive Note. In connection with the Exchange of
the Owner’s beneficial interest in a Restricted Global Note for a Restricted Definitive Note with an equal principal amount, the Owner hereby certifies that the Restricted Definitive Note is being acquired for the Owner’s own account
without transfer. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the Restricted Definitive Note issued will continue to be subject to the restrictions on transfer enumerated in the Private Placement Legend
printed on the Restricted Definitive Note and in the Indenture and the Securities Act. 
  
 (i)  ̈ Check if Exchange is from Restricted Definitive Note to beneficial interest in a
Restricted Global Note. In connection with the Exchange of the Owner’s Restricted Definitive Note for a beneficial interest in the [CHECK ONE]  ̈ 144A Global Note,  ̈ Regulation S Global Note, the Owner hereby certifies (i) the beneficial interest is being
acquired for the Owner’s own account without transfer and (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities Act, and
in compliance with any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the beneficial interest issued will be subject to the
restrictions on transfer enumerated in the Private Placement Legend printed on the relevant Restricted Global Note and in the Indenture and the Securities Act. 
  

This certificate and the statements contained herein are made for your benefit and the benefit of the Company. 
  

			
	  


	 [Insert Name of Owner]

		
	 By:
	 	  


	 Name:

	 Title:



  
 Dated:            ,      
  

 F-2