exv4w1






Exhibit 4.1




 





GREAT WOLF RESORTS, INC.




and



U.S. BANK NATIONAL ASSOCIATION,

Trustee



INDENTURE



Dated as of ________, ___



 





Providing for Issuance of Senior Debt Securities in Series



 










 









 








TABLE OF CONTENTS




	 	 	 	 	 
	 	 	Page	 
	ARTICLE I Definitions and Other Provisions of General Application
	 	 	1	 
	 
	 	 	 	 
	Section 1.01 Definitions
	 	 	1	 
	Section 1.02 Compliance Certificates and Opinions
	 	 	10	 
	Section 1.03 Form of Documents Delivered to Trustee
	 	 	11	 
	Section 1.04
Acts of Securityholders
	 	 	11	 
	Section 1.05 Notices, etc., to Trustee and Company
	 	 	13	 
	Section 1.06 Notices to Securityholders; Waiver
	 	 	13	 
	Section 1.07 Conflict with Trust Indenture Act
	 	 	14	 
	Section 1.08 Effect of Headings and Table of Contents
	 	 	14	 
	Section 1.09 Successors and Assigns
	 	 	14	 
	Section 1.10 Separability Clause
	 	 	14	 
	Section 1.11 Benefits of Indenture
	 	 	14	 
	Section 1.12 Governing Law
	 	 	14	 
	Section 1.13 Counterparts
	 	 	14	 
	Section 1.14 Judgment Currency
	 	 	14	 
	 
	 	 	 	 
	ARTICLE II Security Forms
	 	 	15	 
	 
	 	 	 	 
	Section 2.01 Forms Generally
	 	 	15	 
	Section 2.02 Forms of Securities
	 	 	15	 
	Section 2.03 Form of Trustee’s Certificate of Authentication
	 	 	16	 
	Section 2.04 Securities Issuable in the Form of a Global Security
	 	 	16	 
	 
	 	 	 	 
	ARTICLE III The Securities
	 	 	18	 
	 
	 	 	 	 
	Section 3.01 General Title; General Limitations; Issuable in Series; Terms of
Particular Series 
	 	 	18	 
	Section 3.02 Denominations
	 	 	21	 
	Section 3.03 Execution, Authentication and Delivery and Dating
	 	 	21	 
	Section 3.04 Temporary Securities
	 	 	23	 
	Section 3.05 Registration, Transfer and Exchange
	 	 	23	 
	Section 3.06 Mutilated, Destroyed, Lost and Stolen Securities
	 	 	24	 
	Section 3.07 Payment of Interest; Interest Rights Preserved
	 	 	25	 
	Section 3.08 Persons Deemed Owners
	 	 	26	 
	Section 3.09 Cancellation
	 	 	27	 
	Section 3.10 Computation of Interest
	 	 	27	 
	Section 3.11 Delayed Issuance of Securities
	 	 	27	 
	 
	 	 	 	 
	ARTICLE IV Satisfaction and Discharge; Defeasance
	 	 	28	 
	 
	 	 	 	 
	Section 4.01 Satisfaction and Discharge of Indenture
	 	 	28	 
	Section 4.02 Application of Trust Money
	 	 	29	 
	Section 4.03 Defeasance Upon Deposit of Funds or Government Obligations
	 	 	29	 






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	 	 	Page	 
	Section 4.04 Reinstatement
	 	 	31	 
	 
	 	 	 	 
	ARTICLE V Remedies
	 	 	32	 
	 
	 	 	 	 
	Section 5.01 Events of Default
	 	 	32	 
	Section 5.02 Acceleration of Maturity; Rescission and Annulment
	 	 	33	 
	Section 5.03 Collection of Indebtedness and Suits for Enforcement by Trustee
	 	 	35	 
	Section 5.04 Trustee May File Proofs of Claim
	 	 	35	 
	Section 5.05 Trustee May Enforce Claims Without Possession of Securities
	 	 	36	 
	Section 5.06 Application of Money Collected
	 	 	36	 
	Section 5.07 Limitation on Suits
	 	 	37	 
	Section 5.08 Unconditional Right of Securityholders to Receive Principal, Premium and
Interest 
	 	 	38	 
	Section 5.09 Restoration of Rights and Remedies
	 	 	38	 
	Section 5.10 Rights and Remedies Cumulative
	 	 	38	 
	Section 5.11 Delay or Omission Not Waiver
	 	 	38	 
	Section 5.12 Control by Securityholders
	 	 	38	 
	Section 5.13 Waiver of Past Defaults
	 	 	39	 
	Section 5.14 Undertaking for Costs
	 	 	39	 
	Section 5.15 Waiver of Stay or Extension Laws
	 	 	39	 
	 
	 	 	 	 
	ARTICLE VI The Trustee
	 	 	40	 
	 
	 	 	 	 
	Section 6.01 Certain Duties and Responsibilities
	 	 	40	 
	Section 6.02 Notice of Defaults
	 	 	41	 
	Section 6.03 Certain Rights of Trustee
	 	 	41	 
	Section 6.04 Not Responsible for Recitals or Issuance of Securities
	 	 	43	 
	Section 6.05 May Hold Securities
	 	 	43	 
	Section 6.06 Money Held in Trust
	 	 	43	 
	Section 6.07 Compensation and Reimbursement
	 	 	43	 
	Section 6.08 Disqualification; Conflicting Interests
	 	 	44	 
	Section 6.09 Corporate Trustee Required; Eligibility
	 	 	44	 
	Section 6.10 Resignation and Removal
	 	 	45	 
	Section 6.11 Acceptance of Appointment by Successor
	 	 	46	 
	Section 6.12 Merger, Conversion, Consolidation or Succession to Business
	 	 	47	 
	Section 6.13 Preferential Collection of Claims Against Company
	 	 	47	 
	Section 6.14 Appointment of Authenticating Agent
	 	 	47	 
	 
	 	 	 	 
	ARTICLE VII Securityholders’ Lists and Reports by Trustee and Company
	 	 	49	 
	 
	 	 	 	 
	Section 7.01 Company to Furnish Trustee Names and Addresses of Securityholders
	 	 	49	 
	Section 7.02 Preservation of Information; Communications to Securityholders
	 	 	49	 
	Section 7.03 Reports by Trustee
	 	 	51	 
	Section 7.04 Reports by Company
	 	 	51	 






ii









 






	 	 	 	 	 
	 	 	Page	 
	ARTICLE VIII Consolidation, Merger, Conveyance or Transfer
	 	 	51	 
	 
	 	 	 	 
	Section 8.01 Consolidation, Merger, Conveyance or Transfer on Certain Terms
	 	 	51	 
	Section 8.02 Successor Person Substituted
	 	 	52	 
	 
	 	 	 	 
	ARTICLE IX Supplemental Indentures
	 	 	52	 
	 
	 	 	 	 
	Section 9.01 Supplemental Indentures Without Consent of Securityholders
	 	 	52	 
	Section 9.02 Supplemental Indentures with Consent of Securityholders
	 	 	54	 
	Section 9.03 Execution of Supplemental Indentures
	 	 	55	 
	Section 9.04 Effect of Supplemental Indentures
	 	 	56	 
	Section 9.05 Conformity with Trust Indenture Act
	 	 	56	 
	Section 9.06 Reference in Securities to Supplemental Indentures
	 	 	56	 
	 
	 	 	 	 
	ARTICLE X Covenants
	 	 	56	 
	 
	 	 	 	 
	Section 10.01 Payment of Principal, Premium and Interest
	 	 	56	 
	Section 10.02 Maintenance of Office or Agency
	 	 	56	 
	Section 10.03 Money for Security Payments to Be Held in Trust
	 	 	57	 
	Section 10.04 Statement as to Compliance
	 	 	58	 
	Section 10.05 Legal Existence
	 	 	58	 
	Section 10.06 Waiver of Certain Covenants
	 	 	59	 
	 
	 	 	 	 
	ARTICLE XI Redemption of Securities
	 	 	59	 
	 
	 	 	 	 
	Section 11.01 Applicability of Article
	 	 	59	 
	Section 11.02 Election to Redeem; Notice to Trustee
	 	 	59	 
	Section 11.03 Selection by Trustee of Securities to Be Redeemed
	 	 	60	 
	Section 11.04 Notice of Redemption
	 	 	61	 
	Section 11.05 Deposit of Redemption Price
	 	 	61	 
	Section 11.06 Securities Payable on Redemption Date
	 	 	62	 
	Section 11.07 Securities Redeemed in Part
	 	 	62	 
	Section 11.08 Provisions with Respect to Any Sinking Funds
	 	 	62	 
	Section 11.09 Rescission of Redemption
	 	 	63	 
	 
	 	 	 	 
	ARTICLE XII Conversion
	 	 	64	 
	 
	 	 	 	 
	Section 12.01 Conversion Privilege
	 	 	64	 
	Section 12.02 Conversion Procedure; Rescission of Conversion; Conversion Price;
Fractional Shares
	 	 	65	 
	Section 12.03 Adjustment of Conversion Price for Common Stock or Marketable Securities

	 	 	67	 
	Section 12.04 Consolidation or Merger of the Company
	 	 	70	 
	Section 12.05 Notice of Adjustment
	 	 	71	 
	Section 12.06 Notice in Certain Events
	 	 	71	 
	Section 12.07 Company to Reserve Stock or other Marketable Securities; Registration;
Listing 72
	 	 	 	 
	Section 12.08 Taxes on Conversion
	 	 	73	 
	Section 12.09 Conversion After Record Date
	 	 	73	 






iii









 






	 	 	 	 	 
	 	 	Page	 
	Section 12.10 Corporate Action Regarding Par Value of Common Stock
	 	 	73	 
	Section 12.11 Company Determination Final
	 	 	73	 
	Section 12.12 Trustee’s Disclaimer
	 	 	73	 
	 
	 	 	 	 
	ARTICLE XIII Guarantees
	 	 	74	 
	 
	 	 	 	 
	Section 13.01 Guarantees
	 	 	74	 






iv









 






Table Showing Reflection in Indenture of Certain Provisions

of Trust Indenture Act of 1939,

as amended by the Trust Indenture Reform Act of 1990




Reflected in Indenture




	 	 	 	 	 
	Trust Indenture Act Section	 	Indenture Section
	§ 310
	 	(a)(1)	 	6.09
	 
	 	(a)(2)	 	6.09
	 
	 	(a)(3)	 	Not Applicable
	 
	 	(a)(4)	 	Not Applicable
	 
	 	(a)(5)	 	6.09
	 
	 	(b)	 	6.08
	 
	 	 	 	 
	§ 311
	 	(a)	 	6.13(a)
	 
	 	(b)	 	6.13(b)
	 
	 	(b)(2)	 	7.03(a)
	 
	 	 	 	7.03(b)
	 
	 	 	 	 
	§ 312
	 	(a)	 	7.01
	 
	 	 	 	7.02(a)
	 
	 	(b)	 	7.03(b)
	 
	 	(c)	 	7.02(c)
	 
	 	 	 	 
	§ 313
	 	(a)	 	7.03(a)
	 
	 	(b)	 	7.03(b)
	 
	 	(c)	 	7.03(a)
	 
	 	 	 	7.03(b)
	 
	 	(d)	 	7.03(c)
	 
	 	 	 	 
	§ 314
	 	(a)(1)	 	7.04
	 
	 	(a)(2)	 	7.04
	 
	 	(a)(3)	 	7.04
	 
	 	(a)(4)	 	10.04
	 
	 	(b)	 	Not Applicable
	 
	 	(c)(1)	 	1.02
	 
	 	(c)(2)	 	1.02
	 
	 	(c)(3)	 	Not Applicable
	 
	 	(d)	 	Not Applicable
	 
	 	(e)	 	1.02
	 
	 	 	 	 
	§ 315
	 	(a)	 	6.01(a)
	 
	 	 	 	6.01(c)
	 
	 	(b)	 	6.02
	 
	 	 	 	7.03(a)
	 
	 	(c)	 	6.01(b)






i









 






	 	 	 	 	 
	Trust Indenture Act Section	 	Indenture Section
	 
	 	(d)	 	6.01
	 
	 	(d)(1)	 	6.01(a)
	 
	 	(d)(2)	 	6.01(c)(2)
	 
	 	(d)(3)	 	6.01(c)(3)
	 
	 	(e)	 	5.14
	 
	 	 	 	 
	§ 316
	 	(a)	 	1.01
	 
	 	(a)(1)(A)	 	5.02
	 
	 	 	 	5.12
	 
	 	(a)(1)(B)	 	5.13
	 
	 	(a)(2)	 	Not Applicable
	 
	 	(b)	 	5.08
	 
	 	(c)	 	1.04(d)
	 
	 	 	 	 
	§ 317
	 	(a)(1)	 	5.03
	 
	 	(a)(2)	 	5.04
	 
	 	(b)	 	10.03
	 
	 	 	 	 
	§ 318
	 	(a)	 	1.07





 




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




     Section 318(c) of the Trust Indenture Act provides that the provisions of Sections 310 to and
including 317 of the Trust Indenture Act are a part of and govern every qualified indenture,
whether or not physically contained therein.



ii









 





          THIS INDENTURE between GREAT WOLF RESORTS, INC., a Delaware corporation (hereinafter called
the “Company”) having its principal office at 525 Junction Road, Suite 6000 South, Madison,
Wisconsin 53717, and U.S. BANK NATIONAL ASSOCIATION, as trustee (hereinafter called the
“Trustee”), is made and entered into as of __________, __.




Recitals of the Company



          The Company has duly authorized the execution and delivery of this Indenture to provide for
the issuance of its debentures, notes, bonds or other evidences of indebtedness, in an unlimited
aggregate principal amount, to be issued in one or more fully registered series.




          This Indenture is subject to the provisions of the Trust Indenture Act that are deemed to be
incorporated into this Indenture and shall, to the extent applicable, be governed by such
provisions.




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




Agreements of the Parties



          To set forth or to provide for the establishment of the terms and conditions upon which the
Securities are and are to be authenticated, issued and delivered, and in consideration of the
premises and the purchase of Securities by the Holders thereof, it is mutually agreed as follows,
for the equal and proportionate benefit of all Holders of the Securities or of a series thereof, as
the case may be:




ARTICLE I



Definitions and Other Provisions

of General Application



          Section 1.01 Definitions. For all purposes of this Indenture and of any indenture supplemental hereto, except as
otherwise expressly provided or unless the context otherwise requires:





          (1) the terms defined in this Article have the meanings assigned to them in this
Article, and include the plural as well as the singular;




          (2) all other terms used herein which are defined in the Trust Indenture Act or by
Commission rule under the Trust Indenture Act, either directly or by reference therein,
have the meanings assigned to them herein;




          (3) all accounting terms not otherwise defined herein have the meanings assigned to
them in accordance with GAAP and, except as otherwise herein expressly provided, the term
“generally accepted accounting principles” with respect to any computation required or
permitted hereunder shall mean such



 









 






accounting principles and any accounting rules or interpretations promulgated by the
Commission as are generally accepted in the United States of America at the date of this
Indenture; and




          (4) all references in this instrument to designated “Articles”, “Sections” and other
subdivisions are to the designated Articles, Sections and other subdivisions of this
instrument as originally executed. The words “herein”, “hereof” and “hereunder” and other
words of similar import refer to this Indenture as a whole and not to any particular
Article, Section or other subdivision.



          Certain terms, used principally in Article VI, are defined in that Article.




          “Act”, when used with respect to any Securityholder, has the meaning specified in
Section 1.04.




          “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 specified 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.




          “Authenticating Agent” means any Person authorized by the Company to authenticate
Securities under Section 6.14.




          “Board of Directors” means (i) the board of directors of the Company, (ii) any duly
authorized committee of such board, (iii) any committee of officers of the Company or (iv) any
officer of the Company acting, in the case of clauses (iii) or (iv), pursuant to authority granted
by the board of directors of the Company or any committee of such board.




          “Board Resolution” means a copy of a resolution certified by the Secretary or any
Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in
full force and effect on the date of such certification, and delivered to the Trustee.




          “Business Day” means, with respect to any series of Securities, unless otherwise
specified in a Board Resolution, in an indenture supplemental hereto or an Officer’s Certificate
with respect to a particular series of Securities, each day which is not a Saturday, Sunday or
other day on which banking institutions in the pertinent Place or Places of Payment or the city in
which the Corporate Trust Office is located are authorized or required by law or executive order to
be closed.




          “Closing Price” of the Common Stock or other Marketable Security, as the case may be,
shall mean the last reported sale price of such stock or other Marketable Security (regular way) as
shown on the Composite Tape of the NYSE (or, if such stock or






2









 







other Marketable Security is not listed or admitted to trading on the NYSE, on the principal
national securities exchange on which such stock or other Marketable Security is listed or admitted
to trading, including the NASDAQ), or, in case no such sale takes place on such day, the average of
the closing bid and asked prices on the NYSE (or, if such stock or other Marketable Security is not
listed or admitted to trading on the NYSE, on the principal national securities exchange on which
such stock or other Marketable Security is listed or admitted to trading, including the NASDAQ), or
if such stock or other Marketable Security is not so reported, the average of the closing bid and
asked prices as furnished by any member of the Financial Industry Regulatory Authority, selected
from time to time by the Company for that purpose.




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




          “Common Stock” shall mean the Common Stock, par value $0.01 per share, of the Company
authorized at the date of this Indenture as originally signed, or any other class of stock
resulting from successive changes or reclassifications of such Common Stock, and in any such case
including any shares thereof authorized after the date of this Indenture.




          “Company” means the Person named as the “Company” in the first paragraph of this
instrument until a successor shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Company” shall mean such successor.




          “Company Request”, “Company Order” and “Company Consent” mean a
written request, order or consent, respectively, signed in the name of the Company by its Chairman
of the Board, Chief Executive Officer, President, Chief Operating Officer, Chief Financial Officer,
Treasurer, any Assistant Treasurer, Controller, any Assistant Controller, General Counsel,
Secretary, any Assistant Secretary or any Vice President, and delivered to the Trustee.




          “Conversion Agent” means any Person authorized by the Company to receive Securities to
be converted into Common Stock or other Marketable Securities on behalf of the Company. The
Company initially authorizes the Trustee to act as Conversion Agent for the Securities on its
behalf. The Company may at any time and from time to time authorize one or more Persons to act as
Conversion Agent in addition to or in place of the Trustee with respect to any series of Securities
issued under this Indenture.




          “Conversion Price” means, with respect to any series of Securities which are
convertible into Common Stock or other Marketable Securities, the price per share of Common Stock
or the price per designated unit of other Marketable Security at which the Securities of such
series are so convertible as set forth in the Board Resolution or






3









 







indenture supplemental hereto with respect to such series (or in any indenture supplemental
hereto entered into pursuant to Section 9.01(9) with respect to such series), as the same may be
adjusted from time to time in accordance with Section 12.03 (or such indenture supplemental
hereto).




          “Converting Holder” shall have the meaning specified in Section 12.02(c) of this
Indenture.




          “Corporate Trust Office” means the office of the Trustee at which at any particular
time its corporate trust business shall be principally administered, which office at the date
hereof is located at 40 Pearl Street NW, Suite 838, Grand Rapids, Michigan 49503, Attn: Great Wolf
Resorts, Inc. Administrator.




          “Current Market Price” on any date shall mean the average of the daily Closing Prices
per share of Common Stock or of such other Marketable Securities for any 30 consecutive Trading
Days selected by the Company prior to the day in question, which 30 consecutive Trading Day period
shall not commence more than 45 Trading Days prior to the day in question; provided that with
respect to Section 12.03(3), the “Current Market Price” of the Common Stock or of such other
Marketable Securities shall mean the average of the daily Closing Prices per share of Common Stock
or of such other Marketable Securities for the five consecutive Trading Days ending on the date of
the distribution referred to in Section 12.03(3) (or if such date shall not be a Trading Day, on
the Trading Day immediately preceding such date).




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




          “Depository” means, unless otherwise specified by the Company pursuant to either
Section 2.04 or 3.01, with respect to Securities of any series issuable or issued as a Global
Security, The Depository Trust Company, New York, New York, or any successor thereto registered as
a clearing agency under the Securities Exchange Act of 1934, as amended, or other applicable
statute or regulation.




          “Discharged” has the meaning specified in Section 4.03.




          “Event of Default” has the meaning specified in Article V.




          “Federal Bankruptcy Act” has the meaning specified in Section 5.01(5).




          “GAAP” means generally accepted accounting principles as such principles are in effect
in the United States as of the date of this Indenture.




          “Global Security”, when used with respect to any series of Securities issued
hereunder, means a Security which is executed by the Company and authenticated and delivered by the
Trustee to the Depository or pursuant to the Depository’s instruction, all in accordance with this
Indenture and an indenture supplemental hereto, if any, or Board Resolution and pursuant to a
Company Request, which shall be registered in the name of the Depository or its nominee and which
shall represent, and shall be






4









 







denominated in an amount equal to the aggregate principal amount of, all of the Outstanding
Securities of such series or any portion thereof, in either case having the same terms, including,
without limitation, the same original issue date, date or dates on which principal is due, and
interest rate or method of determining interest.




          “Guarantee” means the guarantees specified in Section 13.01(a).




          “Guarantor” means any Person who guarantees any series of Securities issued hereunder
as specified in Section 13.01(a).




          “Holder”, when used with respect to any Security, means a Securityholder, which means
a Person in whose name a security is registered in the Security Register.




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




          “Interest”, when used with respect to an Original Issue Discount Security which by its
terms bears interest only after Maturity, means interest payable after Maturity.




          “Interest Payment Date”, when used with respect to any series of Securities, means the
Stated Maturity of any installment of interest on those Securities.




          “Marketable Security” means any common stock, debt security or other security of a
Person which is (or will, upon distribution thereof, be) listed on the NYSE, the American Stock
Exchange, NASDAQ or any other national securities exchange registered under Section 6 of the
Securities Exchange Act of 1934, as amended, or approved for quotation in any system of automated
dissemination of quotations of securities prices in the United States or for which there is a
recognized market maker or trading market.




          “Maturity”, when used with respect to any Securities, means the date on which the
principal of any such Security becomes due and payable as therein or herein provided, whether on a
Repayment Date, at the Stated Maturity or by declaration of acceleration, call for redemption or
otherwise.




          “NASDAQ” shall mean the NASDAQ Global Select Market, the NASDAQ Global Market or the
NASDAQ Capital Market.




          “NYSE” shall mean the New York Stock Exchange, Inc.




          “Officers’ Certificate” means a certificate signed by the Chairman of the Board, the
Chief Executive Officer, the President, the Chief Operating Officer, the Chief Financial Officer or
any Vice President of the Company, and by the Treasurer, any






5









 







Assistant Treasurer, the Controller, any Assistant Controller, the General Counsel, the
Secretary or any Assistant Secretary of the Company, and delivered to the Trustee. Wherever this
Indenture requires that an Officers’ Certificate be signed also by a financial expert or an
accountant or other expert, such financial expert, accountant or other expert (except as otherwise
expressly provided in this Indenture) may be in the employ of the Company, and shall be acceptable
to the Trustee.




          “Opinion of Counsel” means a written opinion of counsel which is delivered to the
Trustee, subject to customary assumptions, qualifications and limitations, which counsel may
(except as otherwise expressly provided in this Indenture) be an employee of or of counsel to the
Company.




          “Original Issue Discount Security” means (i) any Security which provides for an amount
less than the principal amount thereof to be due and payable upon a declaration of acceleration of
the Maturity thereof, and (ii) any other security which is issued with “original issue discount”
within the meaning of Section 1273(a) of the Internal Revenue Code of 1986, as amended, and the
regulations thereunder.




          “Outstanding”, when used with respect to the Securities or Securities of any series,
means, as of the date of determination, all such Securities theretofore authenticated and delivered
under this Indenture, except:





     (i) such Securities theretofore canceled by the Trustee or delivered to the Trustee
for cancellation;




     (ii) such Securities for whose payment or redemption money in the necessary amount has
been theretofore deposited with the Trustee or any Paying Agent in trust for the Holders of
such Securities; provided that, if such Securities are to be redeemed, notice of such
redemption has been duly given pursuant to this Indenture or provision therefor reasonably
satisfactory to the Trustee has been made; and




     (iii) such Securities in exchange for or in lieu of which other Securities have been
authenticated and delivered pursuant to this Indenture, or which shall have been paid
pursuant to the terms of Section 3.06 (except with respect to any such Security as to which
proof satisfactory to the Trustee is presented that such Security is held by a Person in
whose hands such Security is a legal, valid and binding obligation of the Company).


In determining whether the Holders of the requisite principal amount of such Securities Outstanding
have given any request, demand, authorization, direction, notice, consent or waiver hereunder, (i)
the principal amount of any Original Issue Discount Security that shall be deemed to be Outstanding
shall be the amount of the principal thereof that would be due and payable as of the date of the
taking of such action upon a declaration of acceleration of the Maturity thereof, and (ii)
Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the
Company or of such other obligor shall be disregarded and deemed not to be Outstanding. In
determining whether the






6









 







Trustee shall be protected in relying upon any such request, demand, authorization, direction,
notice, consent or waiver, only Securities which a Responsible Officer assigned to the Corporate
Trust Department of the Trustee knows to be owned by the Company or any other obligor upon the
Securities or any Affiliate of the Company or such other obligor shall be so disregarded.
Securities so owned which have been pledged in good faith may be regarded as Outstanding if the
pledgee establishes to the satisfaction of the Trustee the pledgee’s right to act as owner with
respect to such Securities and that the pledgee is not the Company or any other obligor upon the
Securities or any Affiliate of the Company or such other obligor.




          “Paying Agent” means any Person authorized by the Company to pay the principal of (and
premium, if any) or interest on any Securities on behalf of the Company. The Company initially
authorizes the Trustee to act as Paying Agent for the Securities on its behalf. The Company may at
any time and from time to time authorize one or more Persons to act as Paying Agent in addition to
or in place of the Trustee with respect to any series of Securities issued under this Indenture.




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




          “Place of Payment” means with respect to any series of Securities issued hereunder the
city or political subdivision so designated with respect to the series of Securities in question in
accordance with the provisions of Section 3.01.




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




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




          “Redemption Price”, when used with respect to any Security to be redeemed, means the
price specified in the Security at which it is to be redeemed pursuant to this Indenture.




          “Redemption Rescission Event” shall mean the occurrence of (a) any general suspension
of trading in, or limitation on prices for, securities on the principal national securities
exchange on which shares of Common Stock or Marketable Securities are registered and listed for
trading (or, if shares of Common Stock or Marketable Securities are not registered and listed for
trading on any such exchange, in the over-the-counter market) for more than six-and-one-half
(6-1/2) consecutive trading hours, (b) any decline in either the Dow Jones Industrial Average or
the S&P 500 Index (or any successor index published by Dow Jones & Company, Inc. or S&P) by either
(i) an amount in excess of 10%, measured from the close of business on any Trading Day to the






7









 







close of business on the next succeeding Trading Day during the period commencing on the
Trading Day preceding the day notice of any redemption of Securities is given (or, if such notice
is given after the close of business on a Trading Day, commencing on such Trading Day) and ending
at the time and date fixed for redemption in such notice or (ii) an amount in excess of 15% (or if
the time and date fixed for redemption is more than 15 days following the date on which such notice
of redemption is given, 20%), measured from the close of business on the Trading Day preceding the
day notice of such redemption is given (or, if such notice is given after the close of business on
a Trading Day, from such Trading Day) to the close of business on any Trading Day at or prior to
the time and date fixed for redemption, (c) a declaration of a banking moratorium or any suspension
of payments in respect of banks by Federal or state authorities in the United States or (d) the
occurrence of an act of terrorism or commencement of a war or armed hostilities or other national
or international calamity directly or indirectly involving the United States which in the
reasonable judgment of the Company could have a material adverse effect on the market for the
Common Stock or Marketable Securities.




          “Regular Record Date” for the interest payable on any Security on any Interest Payment
Date means the date specified in such Security as the Regular Record Date.




          “Repayment Date”, when used with respect to any Security to be repaid, means the date
fixed for such repayment pursuant to such Security.




          “Repayment Price”, when used with respect to any Security to be repaid, means the
price at which it is to be repaid pursuant to such Security.




          “Required Currency”, when used with respect to any Security, has the meaning set forth
in Section 1.14.




          “Responsible Officer”, when used with respect to the Trustee, means any officer of the
Trustee with direct responsibility for the administration of this Indenture and also means, with
respect to a particular corporate trust matter, any other officer to whom such matter is referred
because of his knowledge of and familiarity with the particular subject. “Responsible Officer”,
when used with respect to the Company, means any of the Chairman of the Board, Chief Executive
Officer, President, Chief Operating Officer, Chief Financial Officer, Treasurer, any Assistant
Treasurer, Controller, General Counsel, Secretary or any Vice President of the Company (or any
equivalent of the foregoing officers).




          “S&P” means Standard & Poor’s Rating Service or any successor to the rating agency
business thereto.




          “Security” or “Securities” means any note or notes, bond or bonds, debenture
or debentures, or any other evidences of indebtedness, as the case may be, of any series
authenticated and delivered from time to time under this Indenture.




          “Security Register” shall have the meaning specified in Section 3.05.







8









 








          “Security Registrar” means the Person who keeps the Security Register specified in
Section 3.05. The Company initially appoints the Trustee to act as Security Registrar for the
Securities on its behalf. The Company may at any time and from time to time authorize any Person
to act as Security Registrar in place of the Trustee with respect to any series of Securities
issued under this Indenture.




          “Securityholder” means a Person in whose name a security is registered in the Security
Register.




          “Significant Subsidiary” means any Subsidiary which would be a “significant
subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the
Securities Act of 1933, as in effect on the date of this Indenture.




          “Special Record Date” for the payment of any Defaulted Interest means a date fixed by
the Trustee pursuant to Section 3.07.




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




          “Subsidiary” means, with respect to any Person, any corporation more than 50% of the
voting stock of which is owned directly or indirectly by such Person, and any partnership,
association, joint venture or other entity in which such Person owns more than 50% of the voting
equity interests or has the power to elect a majority of the board of directors or other governing
body.




          “Trading Day” shall mean, with respect to the Common Stock or a Marketable Security,
so long as the common stock or such Marketable Security, as the case may be, is listed or admitted
to trading on the NASDAQ, a day on which the NASDAQ is open for the transaction of business, or, if
the Common Stock or such Marketable Security, as the case may be, is not listed or admitted to
trading on the NASDAQ, a day on which the principal national securities exchange on which the
Common Stock or such Marketable Security, as the case may be, is listed is open for the transaction
of business, or, if the Common Stock or such Marketable Security, as the case may be, is not so
listed or admitted for trading on any national securities exchange, a day on which the member of
the Financial Industry Regulatory Authority selected by the Company to provide pricing information
for the Common Stock or such Marketable Security is open for the transaction of business.




          “Trust Indenture Act” or “TIA” means the Trust Indenture Act of 1939 as in
force at the date as of which this instrument was executed; provided, however, that, in the event
the Trust Indenture Act of 1939 is amended after such date, “Trust Indenture Act” or “TIA” means,
to the extent required by any such amendment, the Trust Indenture Act of 1939 as so amended.







9









 








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




          “Vice President” when used with respect to the Company or the Trustee means any vice
president, whether or not designated by a number or a word or words added before or after the title
“vice president”, including without limitation, an assistant vice president.




          “Voting Stock”, as applied to the stock of any corporation, means stock of any class
or classes (however designated) having by the terms thereof ordinary voting power to elect a
majority of the members of the board of directors (or other governing body) of such corporation
other than stock having such power only by reason of the happening of a contingency.




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




          Section 1.02 Compliance Certificates and Opinions. Upon any application or request by the Company to the Trustee to take any action under any
provision of this Indenture, the Company shall furnish to the Trustee an Officers’ Certificate
stating that all conditions precedent, if any (including any covenants compliance with which
constitutes a condition precedent), provided for in this Indenture relating to the proposed action
have been complied with and an Opinion of Counsel stating that in the opinion of such Counsel all
such conditions precedent, if any (including any covenants compliance with which constitutes a
condition precedent), have been complied with, except that in the case of any such application or
request as to which the furnishing of such documents is specifically required by any provision of
this Indenture relating to such particular application or request, no additional certificate or
opinion need be furnished.




          Every certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture (other than annual statements of compliance provided pursuant to Section
10.04) shall include:





          (1) a statement that each individual signing such certificate or opinion has read such
covenant or condition and the definitions herein relating thereto;




          (2) 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;



10









 






          (3) a statement that, in the opinion of each 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




          (4) a statement as to whether, in the opinion of each such individual, such condition
or covenant has been complied with.



          Section 1.03 Form of Documents Delivered to Trustee. In any case where several matters are required to be certified by, or covered by an opinion
of, any specified Person, it is not necessary that all such matters be certified by, or covered by
the opinion of, only one such Person, or that they be so certified or covered by only one document,
but one such Person may certify or give an opinion with respect to some matters and one or more
other such Persons may certify or give an opinion as to the other matters, and any such Person may
certify or give an opinion as to such matters in one or several documents.




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




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




          Section 1.04 Acts of Securityholders. (a) Any request, demand, authorization, direction, notice, consent, waiver or other action
provided by this Indenture to be given or taken by Securityholders or Securityholders of any series
may be embodied in and evidenced by one or more instruments of substantially similar tenor signed
by such Securityholders in person or by an agent duly appointed in writing or may be embodied in or
evidenced by an electronic transmission which identifies the documents containing the proposal on
which such consent is requested and certifies such Securityholders’ consent thereto and agreement
to be bound thereby; and, except as herein otherwise expressly provided, such action shall become
effective when such instrument or instruments are delivered to the Trustee, and, where it is hereby
expressly required, to the Company. If any Securities are denominated in coin or currency other
than that of the United States, then for the purposes of determining whether the Holders of the
requisite principal amount of Securities have taken any action as herein described, the principal
amount of such Securities shall be deemed to be that amount of United States dollars that could be
obtained for such principal amount on the basis of the spot rate of exchange into






11









 







United States dollars for the currency in which such Securities are denominated (as evidenced
to the Trustee by an Officers’ Certificate) as of the date the taking of such action by the Holders
of such requisite principal amount is evidenced to the Trustee as provided in the immediately
preceding sentence. If any Securities are Original Issue Discount Securities, then for the
purposes of determining whether the Holders of the requisite principal amount of Securities have
taken any action as herein described, the principal amount of such Original Issue Discount
Securities shall be deemed to be the amount of the principal thereof that would be due and payable
upon a declaration of acceleration of the Maturity thereof as of the date the taking of such action
by the Holders of such requisite principal amount is evidenced to the Trustee as provided in the
first sentence of this Section 1.04(a). Such instrument or instruments (and the action embodied
therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Securityholders
signing such instrument or instruments. Proof of execution of any such instrument or of a writing
appointing any such agent shall be sufficient for any purpose of this Indenture and (subject to
Section 6.01) conclusive in favor of the Trustee and the Company, if made in the manner provided in
this Section.




          (b) The fact and date of the execution by any Person of any such instrument or writing may be
proved by the affidavit of a witness to such execution or by the certificate of any notary public
or other officer authorized by law to take acknowledgments of deeds, certifying that the individual
signing such instrument or writing acknowledged to him the execution thereof. Where such execution
is by an officer of a corporation or a member of a partnership, on behalf of such corporation or
partnership, such certificate or affidavit shall also constitute sufficient proof of his authority.
The fact and date of the execution of any such instrument or writing, or the authority of the
person executing the same, may also be proved in any other manner which the Trustee deems
sufficient.




          (c) The ownership of Securities shall be proved by the Security Register.




          (d) If the Company shall solicit from the Holders any request, demand, authorization,
direction, notice, consent, waiver or other action, the Company may, at its option, fix in advance
a record date for the determination of Holders entitled to give such request, demand,
authorization, direction, notice, consent, waiver or other action, but the Company shall have no
obligation to do so. Such record date shall be the later of 10 days prior to the first
solicitation of such action or the date of the most recent list of Holders furnished to the Trustee
pursuant to Section 7.01. If such a record date is fixed, such request, demand, authorization,
direction, notice, consent, waiver or other action may be given before or after the record date,
but only the Holders of record at the close of business on the record date shall be deemed to be
Holders for the purposes of determining whether Holders of the requisite proportion of Securities
outstanding have authorized or agreed or consented to such request, demand, authorization,
direction, notice, consent, waiver or other action, and for that purpose the Securities outstanding
shall be computed as of the record date; provided that no such authorization, agreement or consent
by the Holders on the record date shall be deemed effective unless it shall become effective
pursuant to the provisions of this Indenture not later than six months






12









 







after the record date, and that no such authorization, agreement or consent may be amended,
withdrawn or revoked once given by a Holder, unless the Company shall provide for such amendment,
withdrawal or revocation in conjunction with such solicitation of authorizations, agreements or
consents or unless and to the extent required by applicable law.




          (e) Any request, demand, authorization, direction, notice, consent, waiver or other action by
the Holder of any Security shall bind the Holder of every Security issued upon the registration of
transfer thereof or in exchange therefor or in lieu thereof, in respect of anything done or
suffered to be done by the Trustee or the Company in reliance thereon whether or not notation of
such action is made upon such Security.




          Section 1.05 Notices, etc., to Trustee and Company. Any request, demand, authorization, direction, notice, consent, waiver or Act of
Securityholders or other document provided or permitted by this Indenture to be made upon, given or
furnished to, or filed with:





          (1) the Trustee by any Securityholder or by the Company shall be sufficient for every
purpose hereunder if made, given, furnished or filed in writing to or with the Trustee at
its Corporate Trust Office, Attention: Corporate Trust Administration; or




          (2) the Company by the Trustee or by any Securityholder shall be sufficient for every
purpose hereunder (except as provided in Section 5.01(4) or, in the case of a request for
repayment, as specified in the Security carrying the right to repayment) if in writing and
mailed, first-class postage prepaid, to the Company addressed to it at the address of its
principal office specified in the first paragraph of this instrument, Attention: Office of
the General Counsel, or at the address last furnished in writing to the Trustee by the
Company.



          Section 1.06 Notices to Securityholders; Waiver. Where this Indenture or any Security provides for notice to Securityholders of any event,
such notice shall be sufficiently given (unless otherwise herein or in such Security expressly
provided) if in writing and mailed, first-class postage prepaid, to each Securityholder affected by
such event, at his address as it appears in the Security Register, not later than the latest date,
and not earlier than the earliest date, prescribed for the giving of such notice. In any case
where notice to Securityholders is given by mail, neither the failure to mail such notice, nor any
defect in any notice so mailed, to any particular Securityholder shall affect the sufficiency of
such notice with respect to other Securityholders. Where this Indenture or any Security provides
for notice in any manner, such notice may be waived in writing by the Person entitled to receive
such notice, either before or after the event, and such waiver shall be the equivalent of such
notice. Waivers of notice by Securityholders shall be filed with the Trustee, but such filing
shall not be a condition precedent to the validity of any action taken in reliance upon such
waiver.




          In case, by reason of the suspension of regular mail service as a result of a strike, work
stoppage or otherwise, it shall be impractical to mail notice of any event to






13









 







any Securityholder when such notice is required to be given pursuant to any provision of this
Indenture, then any method of notification as shall be satisfactory to the Trustee and the Company
shall be deemed to be a sufficient giving of such notice.




          Section 1.07 Conflict with Trust Indenture Act. If and to the extent that any provision hereof limits, qualifies or conflicts with the
duties imposed by, or with another provision (an “incorporated provision”) included in this
Indenture by operation of, any of Sections 310 to 318, inclusive, of the Trust Indenture Act, such
imposed duties or incorporated provision shall control.




          Section 1.08 Effect of Headings and Table of Contents. The Article and Section headings herein and the Table of Contents are for convenience only
and shall not affect the construction hereof.




          Section 1.09 Successors and Assigns. All covenants and agreements in this Indenture by the Company and the Guarantors, if any,
shall bind their respective successors and assigns, whether so expressed or not.




          Section 1.10 Separability Clause. In case any provision in this Indenture or in the Securities shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby.




          Section 1.11 Benefits of Indenture. Nothing in this Indenture or in any Securities, express or implied, shall give to any
Person, other than the parties hereto and their successors hereunder, any Authenticating Agent or
Paying Agent, the Security Registrar and the Holders of Securities (or such of them as may be
affected thereby), any benefit or any legal or equitable right, remedy or claim under this
Indenture.




          Section 1.12 Governing Law. This Indenture shall be governed by, and construed in accordance with the laws of the State
of New York without regard to conflicts of laws priciples thereof that would indicate the
applicability of the laws of any other jurisdiction.




          Section 1.13 Counterparts. This instrument may be executed in any number of counterparts, each of which so executed
shall be deemed to be an original, but all such counterparts shall together constitute but one and
the same instrument.




          Section 1.14 Judgment Currency. The Company agrees, to the fullest extent that it may effectively do so under applicable
law, that (a) if for the purpose of obtaining judgment in any court it is necessary to convert the
sum due in respect of the principal of, or premium or interest, if any, on the Securities of any
series (the “Required Currency”) into a currency in which a judgment will be rendered (the
“Judgment Currency”), the rate of exchange used shall be the rate at which in accordance
with normal banking procedures the Trustee could purchase in the City of New York the Required
Currency with the Judgment Currency on the New York Banking Day preceding that on which a final
unappealable judgment is given and (b) its obligations






14









 







under this Indenture to make payments in the Required Currency (i) shall not be discharged or
satisfied by any tender, or any recovery pursuant to any judgment (whether or not entered in
accordance with subsection (a)), in any currency other than the Required Currency, except to the
extent that such tender or recovery shall result in the actual receipt, by the payee, of the full
amount of the Required Currency expressed to be payable in respect of such payments, (ii) shall be
enforceable as an alternative or additional cause of action for the purpose of recovering in the
Required Currency the amount, if any, by which such actual receipt shall fall short of the full
amount of the Required Currency so expressed to be payable and (iii) shall not be affected by
judgment being obtained for any other sum due under this Indenture. For purposes of the foregoing,
“New York Banking Day” means any day except a Saturday, Sunday or a legal holiday in the
City of New York or a day on which banking institutions in the City of New York are authorized or
required by law or executive order to close.




ARTICLE II



Security Forms



          Section 2.01 Forms Generally. The Securities shall have such appropriate insertions, omissions, substitutions and other
variations as are required or permitted by this Indenture and may have such letters, numbers or
other marks of identification and such legends or endorsements placed thereon, as may be required
to comply with the rules of any securities exchange, or as may, consistently herewith, be
determined by the officers executing such Securities, as evidenced by their execution of the
Securities. Any portion of the text of any Security may be set forth on the reverse thereof, with
an appropriate reference thereto on the face of the Security.




          The definitive Securities shall be printed, lithographed or engraved or produced by any
combination of these methods on steel engraved borders or may be produced in any other manner, all
as determined by the officers executing such Securities, as evidenced by their execution of such
Securities, subject, with respect to the Securities of any series, to the rules of any securities
exchange on which such Securities are listed.




          Section 2.02 Forms of Securities. Each Security shall be in one of the forms approved from time to time by or pursuant to a
Board Resolution, or established in one or more indentures supplemental hereto. Prior to the
delivery of a Security to the Trustee for authentication in any form approved by or pursuant to a
Board Resolution, the Company shall deliver to the Trustee the Board Resolution by or pursuant to
which such form of Security has been approved, which Board Resolution shall have attached thereto a
true and correct copy of the form of Security which has been approved thereby or, if a Board
Resolution authorizes a specific officer or officers to approve a form of Security, a certificate
of such officer or officers approving the form of Security attached thereto. Any form of Security
approved by or pursuant to a Board Resolution must be acceptable as to form to the Trustee, such
acceptance to be evidenced by the Trustee’s authentication of Securities in that form or a
certificate signed by a Responsible Officer of the Trustee and delivered to the Company.







15









 








          Section 2.03 Form of Trustee’s Certificate of Authentication. The form of Trustee’s Certificate of Authentication for any Security issued pursuant to
this Indenture shall be substantially as follows:




TRUSTEE’S CERTIFICATE OF AUTHENTICATION



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




	 	 	 	 	 	 	 

	 	 	U.S. BANK NATIONAL ASSOCIATION	 	 
	 
	 	 	 	 	 	 
	 

	 	by
	 	 

	 	 
	 

	 	 	 	Authorized Signatory	 	 
	 
	 	 	 	 	 	 
	 

	 	Dated	 	 	 	 






          Section 2.04 Securities Issuable in the Form of a Global Security. (a) If the Company shall establish pursuant to Sections 2.02 and 3.01 that the Securities
of a particular series are to be issued in whole or in part in the form of one or more Global
Securities, then the Company shall execute and the Trustee or its agent shall, in accordance with
Section 3.03 and the Company Order delivered to the Trustee or its agent thereunder, authenticate
and deliver, such Global Security or Securities, which (i) shall represent, and shall be
denominated in an amount equal to the aggregate principal amount of, the Outstanding Securities of
such series to be represented by such Global Security or Securities, or such portion thereof as the
Company shall specify in a Company Order, (ii) shall be registered in the name of the Depository
for such Global Security or Securities or its nominee, (iii) shall be delivered by the Trustee or
its agent to the Depository or pursuant to the Depository’s instruction and (iv) shall bear a
legend substantially to the following effect: “Unless this certificate is presented by an
authorized representative of the Depository to Issuer or its agent for registration of transfer,
exchange, or payment, and any certificate issued is registered in the name of the nominee of the
Depository or in such other name as is requested by an authorized representative of the Depository
(and any payment is made to the nominee of the Depository or to such other entity as is requested
by an authorized representative of the Depository), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, the
nominee of the Depository, has an interest herein.”




          (b) Notwithstanding any other provision of this Section 2.04 or of Section 3.05, and subject
to the provisions of paragraph (c) below, unless the terms of a Global Security expressly permit
such Global Security to be exchanged in whole or in part for individual Securities, a Global
Security may be transferred, in whole but not in part and in the manner provided in Section 3.05,
only to a nominee of the Depository for such Global Security, or to the Depository, or a successor
Depository for such Global






16









 







Security selected or approved by the Company, or to a nominee of such successor Depository.




          (c) (i) If at any time the Depository for a Global Security notifies the Company that it is
unwilling or unable to continue as Depository for such Global Security or if at any time the
Depository for the Securities for such series shall no longer be eligible or in good standing under
the Securities Exchange Act of 1934, as amended, or other applicable statute or regulation, the
Company shall appoint a successor Depository with respect to such Global Security. If a successor
Depository for such Global Security is not appointed by the Company within 90 days after the
Company receives such notice or becomes aware of such ineligibility, the Company will execute, and
the Trustee or its agent, upon receipt of a Company Request for the authentication and delivery of
individual Securities of such series in exchange for such Global Security, will authenticate and
deliver, individual Securities of such series of like tenor and terms in an aggregate principal
amount equal to the principal amount of the Global Security in exchange for such Global Security.




          (ii) The Company may at any time and in its sole discretion determine that the Securities of
any series or portion thereof issued or issuable in the form of one or more Global Securities shall
no longer be represented by such Global Security or Securities. In such event the Company will
execute, and the Trustee, upon receipt of a Company Request for the authentication and delivery of
individual Securities of such series in exchange in whole or in part for such Global Security, will
authenticate and deliver individual Securities of such series of like tenor and terms in definitive
form in an aggregate principal amount equal to the principal amount of such Global Security or
Securities representing such series or portion thereof in exchange for such Global Security or
Securities.




          (iii) If specified by the Company pursuant to Sections 2.02 and 3.02 with respect to
Securities issued or issuable in the form of a Global Security, the Depository for such Global
Security may surrender such Global Security in exchange in whole or in part for individual
Securities of such series of like tenor and terms in definitive form on such terms as are
acceptable to the Company and such Depository. Thereupon the Company shall execute, and the
Trustee or its agent shall authenticate and deliver, without service charge, (1) to each Person
specified by such Depository a new Security or Securities of the same series of like tenor and
terms and of any authorized denomination as requested by such Person in aggregate principal amount
equal to and in exchange for such Person’s beneficial interest as specified by such Depository in
the Global Security; and (2) to such Depository a new Global Security of like tenor and terms and
in an authorized denomination equal to the difference, if any, between the principal amount of the
surrendered Global Security and the aggregate principal amount of Securities delivered to Holders
thereof.




          (iv) In any exchange provided for in any of the preceding three paragraphs, the Company will
execute and the Trustee or its agent will authenticate and deliver individual Securities in
definitive registered form in authorized denominations. Upon the exchange of the entire principal
amount of a Global Security for individual






17









 







Securities, such Global Security shall be canceled by the Trustee or its agent. Except as
provided in the preceding paragraph, Securities issued in exchange for a Global Security pursuant
to this Section shall be registered in such names and in such authorized denominations as the
Depository for such Global Security, pursuant to instructions from its direct or indirect
participants or otherwise, shall instruct the Trustee or the Security Registrar. The Trustee or
the Security Registrar shall deliver at its Corporate Trust Office such Securities to the Persons
in whose names such Securities are so registered.




ARTICLE III



The Securities



          Section 3.01 General Title; General Limitations; Issuable in Series; Terms of Particular
Series. The aggregate principal amount of Securities which may be authenticated and delivered and
Outstanding under this Indenture is not limited.




          The Securities may be issued in one or more series as from time to time may be authorized by
the Board of Directors. There shall be established in or pursuant to a Board Resolution or in an
indenture supplemental hereto, subject to Section 3.11, prior to the issuance of Securities of any
such series:





          (1) the title of the Securities of such series (which shall distinguish the Securities
of such series from Securities of any other series);




          (2) the Person to whom any interest on a Security of such series shall be payable, if
other than the Person in whose name that Security (or one or more Predecessor Securities)
is registered at the close of business on the Regular Record Date for such interest;




          (3) the date or dates on which the principal of the Securities of such series is
payable;




          (4) the rate or rates at which the Securities of such series shall bear interest, if
any, the date or dates from which such interest shall accrue, the Interest Payment Dates on
which any such interest shall be payable and the Regular Record Date for any interest
payable on any Interest Payment Date;




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




          (6) the period or periods within which, the Redemption Price or Prices or the
Repayment Price or Prices, as the case may be, at which and the terms and conditions upon
which Securities of such series may be redeemed or repaid (including the applicability of
Section 11.09), as the case may be, in whole or in part, at the option of the Company or
the Holder;




          (7) the obligation, if any, of the Company to purchase Securities of such series
pursuant to any sinking fund or analogous provisions or



18









 







at the option of a Holder thereof and the period or periods within which, the price or
prices at which and the terms and conditions upon which Securities of such series shall be
purchased, in whole or in part, pursuant to such obligation;




          (8) if other than denominations of $1,000 and any integral multiple thereof, the
denominations in which Securities of such series shall be issuable;




          (9) provisions, if any, with regard to the conversion or exchange of the Securities of
such series, at the option of the Holders thereof or the Company, as the case may be, for
or into new Securities of a different series, Common Stock or other securities;




          (10) if other than U.S. dollars, the currency or currencies or units based on or
related to currencies in which the Securities of such series shall be denominated and in
which payments of principal of, and any premium and interest on, such Securities shall or
may be payable;




          (11) if the principal of (and premium, if any) or interest, if any, on the Securities
of such series are to be payable, at the election of the Company or a Holder thereof, in a
coin or currency (including a composite currency) other than that in which the Securities
are stated to be payable, the period or periods within which, and the terms and conditions
upon which, such election may be made;




          (12) if the amount of payments of principal of (and premium, if any) or interest, if
any, on the Securities of such series may be determined with reference to an index based on
a coin or currency (including a composite currency) other than that in which the Securities
are stated to be payable, the manner in which such amounts shall be determined;




          (13) any limit upon the aggregate principal amount of the Securities of such series
which may be authenticated and delivered under this Indenture (except for Securities
authenticated and delivered upon registration of transfer of, or in exchange for, or in
lieu of, other Securities of such series pursuant to Sections 3.04, 3.05, 3.06, 9.06, 11.07
and 12.02 and except for any Securities which, pursuant to Section 3.03, are deemed never
to have been authenticated and delivered hereunder);




          (14) provisions, if any, with regard to the exchange of Securities of such series, at
the option of the Holders thereof, for other Securities of the same series of the same
aggregate principal amount or of a different authorized series or different authorized
denomination or denominations, or both;




          (15) provisions, if any, with regard to the appointment by the Company of an
Authenticating Agent in one or more places other than the location of the office of the
Trustee with power to act on behalf of the Trustee and subject to its direction in the
authentication and delivery of the Securities of any



19









 






one or more series in connection with such transactions as shall be specified in the
provisions of this Indenture or in or pursuant to such Board Resolution or indenture
supplemental hereto;




          (16) the portion of the principal amount of Securities of the series, if other than
the principal amount thereof, which shall be payable upon declaration of acceleration of
the Maturity thereof pursuant to Section 5.02 or provable in bankruptcy pursuant to Section
5.04;




          (17) any Event of Default with respect to the Securities of such series, if not set
forth herein, and any additions, deletions or other changes to the Events of Default set
forth herein that shall be applicable to the Securities of such series;




          (18) any covenant solely for the benefit of the Securities of such series and any
additions, deletions or other changes to the provisions of Article VIII, Article X or
Section 1.01 or any definitions relating to such Article that would otherwise be applicable
to the Securities of such series;




          (19) if Section 4.03 of this Indenture shall not be applicable to the Securities of
such series and if Section 4.03 shall be applicable to any covenant or Event of Default
established in or pursuant to a Board Resolution or in an indenture supplemental hereto as
described above that has not already been established herein;




          (20) if the Securities of such series shall be issued in whole or in part in the form
of a Global Security or Securities, the terms and conditions, if any, upon which such
Global Security or Securities may be exchanged in whole or in part for other individual
Securities; and the Depository for such Global Security or Securities;




          (21) if the Securities of such series shall be guaranteed, the terms and conditions of
such Guarantees and provisions for the accession of the guarantors to certain obligations
hereunder; and




          (22) any other terms of such series, including, without limitations, any restrictions
on transfer related thereto.


all upon such terms as may be determined in or pursuant to such Board Resolution or indenture
supplemental hereto with respect to such series.




          The form of the Securities of each series shall be established pursuant to the provisions of
this Indenture in or pursuant to the Board Resolution or in the indenture supplemental hereto
creating such series. The Securities of each series shall be distinguished from the Securities of
each other series in such manner, reasonably satisfactory to the Trustee, as the Board of Directors
may determine.







20









 








          Unless otherwise provided with respect to Securities of a particular series, the Securities of
any series may only be issuable in registered form, without coupons.




          Any terms or provisions in respect of the Securities of any series issued under this Indenture
may be determined pursuant to this Section by providing for the method by which such terms or
provisions shall be determined.




          Section 3.02 Denominations. The Securities of each series shall be issuable in such denominations and currency as shall
be provided in the provisions of this Indenture or in or pursuant to the Board Resolution or the
indenture supplemental hereto creating such series. In the absence of any such provisions with
respect to the Securities of any series, the Securities of that series shall be issuable only in
fully registered form in denominations of $1,000 and any integral multiple thereof.




          Section 3.03 Execution, Authentication and Delivery and Dating. The Securities shall be executed on behalf of the Company by its Chairman of the Board, its
Chief Executive Officer, its President, its Chief Operating Officer, its Chief Financial Officer,
its Treasurer, any Assistant Treasurer, its Controller, its General Counsel, its Secretary or any
Vice President and attested by its Secretary or one of its Assistant Secretaries. The signature of
any of these officers on the Securities may be manual or facsimile.




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




          At any time and from time to time after the execution and delivery of this Indenture, the
Company may deliver Securities executed by the Company to the Trustee for authentication; and the
Trustee shall, upon Company Order, authenticate and deliver such Securities as in this Indenture
provided and not otherwise.




          Prior to any such authentication and delivery, the Trustee shall be provided with the
Officers’ Certificate and Opinion of Counsel required to be furnished to the Trustee pursuant to
Section 1.02, and the Board Resolution and any certificate relating to the issuance of the series
of Securities required to be furnished pursuant to Section 2.02, an Opinion of Counsel
substantially to the effect that:





          (1) all instruments furnished to the Trustee conform to the requirements of the
Indenture and constitute sufficient authority hereunder for the Trustee to authenticate and
deliver such Securities;




          (2) the form and terms of such Securities have been established in conformity with the
provisions of this Indenture;



21









 






          (3) all laws and requirements with respect to the execution and delivery by the
Company of such Securities have been complied with, the Company has the corporate power to
issue such Securities and such Securities have been duly authorized and delivered by the
Company and, assuming due authentication and delivery by the Trustee, constitute legal,
valid and binding obligations of the Company enforceable in accordance with their terms
(subject, as to enforcement of remedies, to applicable bankruptcy, reorganization,
insolvency, moratorium or other laws and legal principles affecting creditors’ rights
generally from time to time in effect and to general equitable principles, whether applied
in an action at law or in equity) and entitled to the benefits of this Indenture, equally
and ratably with all other Securities, if any, of such series Outstanding;




          (4) when applicable, the Indenture is qualified under the Trust Indenture Act; and




          (5) such other matters as the Trustee may reasonably request;


and, if the authentication and delivery relates to a new series of Securities created by an
indenture supplemental hereto, also stating that all laws and requirements with respect to the form
and execution by the Company of the supplemental indenture with respect to that series of
Securities have been complied with, the Company has corporate power to execute and deliver any such
supplemental indenture and has taken all necessary corporate action for those purposes and any such
supplemental indenture has been duly executed and delivered and constitutes the legal, valid and
binding obligation of the Company enforceable in accordance with its terms (subject, as to
enforcement of remedies, to applicable bankruptcy, reorganization, insolvency, moratorium or other
laws and legal principles affecting creditors’ rights generally from time to time in effect and to
general equitable principles, whether applied in an action at law or in equity).




          The Trustee shall not be required to authenticate such Securities if the issue thereof will
adversely affect the Trustee’s own rights, duties or immunities under the Securities and this
Indenture.




          Unless otherwise provided in the form of Security for any series, all Securities shall be
dated the date of their authentication.




          No Security shall be entitled to any benefit under this Indenture or be valid or obligatory
for any purpose unless there appears on such Security a certificate of authentication substantially
in the form provided for herein executed by the Trustee by manual or facsimile signature, and such
certificate upon any Security shall be conclusive evidence, and the only evidence, that such
Security has been duly authenticated and delivered hereunder. Notwithstanding the foregoing, if
any Security shall have been authenticated and delivered hereunder but never issued and sold by the
Company, and the Company shall deliver such Security to the Trustee for cancellation as provided in
Section 3.09, for all purposes of this Indenture such Security shall be deemed never to






22









 







have been authenticated and delivered hereunder and shall never be entitled to the benefits of
this Indenture.




          Section 3.04 Temporary Securities. Pending the preparation of definitive Securities of any series, the Company may execute,
and, upon receipt of the documents required by Section 3.03, together with a Company Order, the
Trustee shall authenticate and deliver, temporary Securities which are printed, lithographed,
typewritten or otherwise produced, in any authorized denomination, substantially of the tenor of
the definitive Securities in lieu of which they are issued and with such appropriate insertions,
omissions, substitutions and other variations as the officers executing such Securities may
determine, as evidenced by their execution of such Securities.




          If temporary Securities of any series are issued, the Company will cause definitive Securities
of such series to be prepared without unreasonable delay. After the preparation of definitive
Securities, the temporary Securities of such series shall be exchangeable for definitive Securities
of such series upon surrender of the temporary Securities of such series at the office or agency of
the Company in a Place of Payment, without charge to the Holder; and upon surrender for
cancellation of any one or more temporary Securities the Company shall execute and the Trustee
shall authenticate and deliver in exchange therefor a like principal amount of definitive
Securities of such series of authorized denominations and of like tenor and terms. Until so
exchanged the temporary Securities of such series shall in all respects be entitled to the same
benefits under this Indenture as definitive Securities of such series.




          Section 3.05 Registration, Transfer and Exchange. The Company shall keep or cause to be kept a register or registers (herein sometimes
referred to as the “Security Register”) in which, subject to such reasonable regulations as
it may prescribe, the Company shall provide for the registration of Securities, or of Securities of
a particular series, and of transfers of Securities or of Securities of such series. Any such
register shall be in written form or in any other form capable of being converted into written form
within a reasonable time. At all reasonable times the information contained in such register or
registers shall be available for inspection by the Trustee at the office or agency to be maintained
by the Company as provided in Section 10.02. There shall be only one Security Register per series
of Securities.




          Subject to Section 2.04, upon surrender for registration of transfer of any Security of any
series at the office or agency of the Company maintained for such purpose in a Place of Payment,
the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the
designated transferee or transferees, one or more new Securities of such series of any authorized
denominations, of a like aggregate principal amount and Stated Maturity and of like tenor and
terms.




          Subject to Section 2.04, at the option of the Holder, Securities of any series may be
exchanged for other Securities of such series of any authorized denominations, of a like aggregate
principal amount and Stated Maturity and of like tenor and terms, upon surrender of the Securities
to be exchanged at such office or agency.






23









 







Whenever any Securities are so surrendered for exchange, the Company shall execute, and the
Trustee shall authenticate and deliver, the Securities which the Securityholder making the exchange
is entitled to receive.




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




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




          Unless otherwise provided in the Security to be registered for transfer or exchanged, no
service charge shall be made on any Securityholder for any registration of transfer or exchange of
Securities, but the Company may (unless otherwise provided in such Security) require payment of a
sum sufficient to cover any tax or other governmental charge that may be imposed in connection with
any registration of transfer or exchange of Securities, other than exchanges pursuant to Section
3.04, 9.06 or 11.07 not involving any transfer.




          The Company shall not be required (i) to issue, register the transfer of or exchange any
Security of any series during a period beginning at the opening of business 15 days before the day
of the mailing of a notice of redemption of Securities of such series selected for redemption under
Section 11.03 and ending at the close of business on the date of such mailing, or (ii) to register
the transfer of or exchange any Security so selected for redemption in whole or in part.




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




          Section 3.06 Mutilated, Destroyed, Lost and Stolen Securities. If (i) any mutilated Security is surrendered to the Trustee, or the Company and the Trustee
receive evidence to their satisfaction of the destruction, loss or theft of any Security, and (ii)
there is delivered to the Company and the Trustee such security or indemnity as may be required by
them to save each of them harmless, then, in the absence of notice to the Company or the Trustee
that such Security has been acquired by a protected purchaser, the Company shall execute and upon
its written request the Trustee shall authenticate and deliver, in exchange for or in lieu of any
such mutilated, destroyed, lost or stolen Security, a new Security of like tenor, series, Stated
Maturity and principal amount, bearing a number not contemporaneously outstanding.







24









 








          In case any such mutilated, destroyed, lost or stolen Security has become or is about to
become due and payable, the Company in its discretion may, instead of issuing a new Security, pay
such Security.




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




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




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




          Section 3.07 Payment of Interest; Interest Rights Preserved. Unless otherwise provided with respect to such Security pursuant to Section 3.01, interest
on any Security which is payable, and is punctually paid or duly provided for, on any Interest
Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date for such interest.




          Any interest on any Security which is payable, but is not punctually paid or duly provided
for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith
cease to be payable to the registered Holder on the relevant Regular Record Date by virtue of his
having been such Holder; and, except as hereinafter provided, such Defaulted Interest may be paid
by the Company, at its election in each case, as provided in clause (1) or clause (2) below:





          (1) The Company may elect to make payment of any Defaulted Interest to the Persons in
whose names any such Securities (or their respective Predecessor Securities) are registered
at the close of business on a special record date for the payment of such Defaulted
Interest, which shall be fixed in the following manner (the “Special Record Date”).
The Company shall notify the Trustee in writing of the amount of Defaulted Interest
proposed to be paid on each such Security and the date of the proposed payment, and at the
same time the Company shall deposit with the Trustee an amount of money equal to the
aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make
arrangements reasonably satisfactory to the Trustee for such deposit prior to the date of
the proposed payment, such money when deposited to be held in trust for the benefit of the
Persons entitled to such Defaulted Interest as in this clause (1) provided. Thereupon the
Trustee shall fix a Special Record Date for



25









 






the payment of such Defaulted Interest which shall be not more than 15 nor less than
10 days prior to the date of the proposed payment and not less than 10 days after the
receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly
notify the Company of such Special Record Date and, in the name and at the expense of the
Company, shall cause notice of the proposed payment of such Defaulted Interest and the
Special Record Date therefor to be mailed, first class postage prepaid, to the Holder of
each such Security at his address as it appears in the Security Register, not less than 10
days prior to such Special Record Date. Notice of the proposed payment of such Defaulted
Interest and the Special Record Date therefor having been mailed as aforesaid, such
Defaulted Interest shall be paid to the Persons in whose names such Securities (or their
respective Predecessor Securities) are registered on such Special Record Date and shall no
longer be payable pursuant to the following clause (2).




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



          If any installment of interest the Stated Maturity of which is on or prior to the Redemption
Date for any Security called for redemption pursuant to Article XI is not paid or duly provided for
on or prior to the Redemption Date in accordance with the foregoing provisions of this Section,
such interest shall be payable as part of the Redemption Price of such Securities.




          Subject to the foregoing provisions of this Section, each Security delivered under this
Indenture upon registration of transfer of or in exchange for or in lieu of any other Security
shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such
other Security.




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




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





26











 





          Section 3.09 Cancellation. All Securities surrendered for payment, conversion,
redemption, registration of transfer, exchange or credit against a sinking fund shall, if
surrendered to any Person other than the Trustee, be delivered to the Trustee and, if not already
canceled, shall be promptly canceled by it. The Company may at any time deliver to the Trustee for
cancellation any Securities previously authenticated and delivered hereunder which the Company may
have acquired in any manner whatsoever, and all Securities so delivered shall be promptly canceled
by the Trustee. No Security shall be authenticated in lieu of or in exchange for any Securities
canceled as provided in this Section, except as expressly permitted by this Indenture. The Trustee
shall dispose of all canceled Securities in accordance with its standard procedures and deliver a
certificate of such disposition to the Company upon its written request therefor.




          Section 3.10 Computation of Interest. Unless otherwise provided as contemplated in
Section 3.01, interest on the Securities shall be calculated on the basis of a 360-day year of
twelve 30-day months.




          Section 3.11 Delayed Issuance of Securities. Notwithstanding any contrary provision
herein, if all Securities of a series are not to be originally issued at one time, it shall not be
necessary for the Company to deliver to the Trustee an Officers’ Certificate, Board Resolution,
indenture supplemental hereto, opinion of counsel or Company Order otherwise required pursuant to
Sections 1.02, 2.02, 3.01 and 3.03 at or prior to the time of authentication of each Security of
such series if such documents are delivered to the Trustee or its agent at or prior to the
authentication upon original issuance of the first Security of such series to be issued; provided
that any subsequent request by the Company to the Trustee to authenticate Securities of such series
upon original issuance shall constitute a representation and warranty by the Company that as of the
date of such request, the statements made in the Officers’ Certificate or other certificates
delivered pursuant to Sections 1.02 and 2.02 shall be true and correct as if made on such date.




          A Company Order, Officers’ Certificate or Board Resolution or indenture supplemental hereto
delivered by the Company to the Trustee in the circumstances set forth in the preceding paragraph
may provide that Securities which are the subject thereof will be authenticated and delivered by
the Trustee or its agent on original issue from time to time in the aggregate principal amount, if
any, established for such series pursuant to such procedures reasonably acceptable to the Trustee
as may be specified from time to time by Company Order upon the telephonic, electronic or written
order of Persons designated in such Company Order, Officers’ Certificate, indenture supplemental
hereto or Board Resolution (any such telephonic or electronic instructions to be promptly confirmed
in writing by such Persons) and that such Persons are authorized to determine, consistent with such
Company Order, Officers’ Certificate, indenture supplemental hereto or Board Resolution, such terms
and conditions of said Securities as are specified in such Company Order, Officers’ Certificate,
indenture supplemental hereto or Board Resolution.





27









 








ARTICLE IV




Satisfaction and Discharge; Defeasance



          Section 4.01 Satisfaction and Discharge of Indenture. Unless pursuant to Section 3.01
provision is made that this Section shall not be applicable to the Securities of any series, this
Indenture shall cease to be of further effect with respect to any series of Securities (except as
to any surviving rights of conversion or registration of transfer or exchange of Securities of such
series expressly provided for herein or in the form of Security for such series), and the Trustee,
on receipt of a Company Request and at the expense of the Company, shall execute proper instruments
acknowledging satisfaction and discharge of this Indenture as to such series, when:





(1) either




          (A) all Securities of that series theretofore authenticated and delivered (other than
(i) Securities of such series which have been destroyed, lost or stolen and which have been
replaced or paid as provided in Section 3.06, and (ii) Securities of such series for whose
payment money in the Required Currency has theretofore been deposited in trust or
segregated and held in trust by the Company and thereafter repaid to the Company or
discharged from such trust, as provided in Section 10.03) have been delivered to the
Trustee canceled or for cancellation; or




          (B) all such Securities of that series not theretofore delivered to the Trustee
canceled or for cancellation:




          (i) have become due and payable, or




          (ii) will become due and payable at their Stated Maturity within one year, or




          (iii) are to be called for redemption within one year under arrangements
reasonably satisfactory to the Trustee for the giving of notice of redemption by
the Trustee in the name, and at the expense, of the Company,


and the Company, in the case of (i), (ii) or (iii) above, has irrevocably deposited or caused to be
deposited with the Trustee as trust funds in trust for the purpose an amount in the Required
Currency sufficient to pay and discharge the entire indebtedness on such Securities not theretofore
delivered to the Trustee canceled or for cancellation, for principal (and premium, if any) and
interest to the date of such deposit (in the case of Securities which have become due and payable),
or to the Stated Maturity or Redemption Date, as the case may be;





28









 









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




          (3) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion
of Counsel each stating that all conditions precedent herein provided for relating to the
satisfaction and discharge of this Indenture with respect to the Securities of such series
have been complied with.


Notwithstanding the satisfaction and discharge of this Indenture with respect to any series of
Securities, the obligations of the Company to the Trustee with respect to that series under
Section 6.07 shall survive and the obligations of the Company and the Trustee under Sections 3.05,
3.06, 4.02, 10.02 and 10.03 shall survive such satisfaction and discharge.




          Section 4.02 Application of Trust Money. Subject to the provisions of the last
paragraph of Section 10.03, all money, property and securities deposited with the Trustee pursuant
to Section 4.01 or Section 4.03 shall be held in trust and applied by it, in accordance with the
provisions of the series of Securities in respect of which it was deposited and this Indenture, to
the payment, either directly or through any Paying Agent (including the Company acting as its own
Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal (and
premium, if any) and interest for whose payment such money has been deposited with the Trustee; but
such money need not be segregated from other funds except to the extent required by law.




          Anything herein to the contrary notwithstanding, the Trustee shall deliver or pay to the
Company from time to time upon Company Request any money, property or securities deposited with and
held by it as provided in Section 4.03 and this Section 4.02 which, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification thereof
delivered to the Trustee, are in excess of the amount thereof which would then be required to be
deposited to effect an equivalent satisfaction and discharge, Discharge (as defined below) or
covenant defeasance, provided that the Trustee shall not be required to liquidate any securities in
order to comply with the provisions of this paragraph.




          Section 4.03 Defeasance Upon Deposit of Funds or Government Obligations. Unless
pursuant to Section 3.01 provision is made that this Section shall not be applicable to the
Securities of any series, at the Company’s option, either (a) the Company and the Guarantors, if
any, shall be deemed to have been Discharged (as defined below) from its obligations with respect
to any series of Securities after the applicable conditions set forth below have been satisfied or
(b) the Company shall cease to be under any obligation to comply with any term, provision or
condition set forth in Section 10.05 and Article VIII (and any other Sections or covenants
applicable to such Securities that are determined pursuant to Section 3.01 to be subject to this
provision), the Guarantors, if any, shall be released from the Guarantees and clause (4) of
Section 5.01 of this Indenture (and any other Events of Default applicable to such Securities that
are determined pursuant to Section 3.01 to be subject to this provision) shall be deemed not





29









 







to be
an Event of Default with respect to any series of Securities at any time after the applicable
conditions set forth below have been satisfied:





          (1) the Company shall have deposited or caused to be deposited irrevocably with the
Trustee as trust funds, specifically pledged as security for, and dedicated solely to, the
benefit of the Holders of the Securities of such series, (i) money in an amount, or
(ii) the equivalent in securities of the government which issued the currency in which the
Securities are denominated or government agencies backed by the full faith and credit of
such government which through the payment of interest and principal in respect thereof in
accordance with their terms will provide freely available funds on or prior to the due date
of any payment, money in an amount, or (iii) a combination of (i) and (ii), sufficient, in
the opinion (with respect to (ii) and (iii)) of a nationally recognized firm of independent
public accountants expressed in a written certification thereof delivered to the Trustee,
to pay and discharge each installment of principal (including mandatory sinking fund
payments) and any premium of, interest on and any repurchase or redemption obligations with
respect to the outstanding Securities of such series on the dates such installments of
interest or principal or repurchase or redemption obligations are due (before such a
deposit, if the Securities of such series are then redeemable or may be redeemed in the
future pursuant to the terms thereof, in either case at the option of the Company, the
Company may give to the Trustee, in accordance with Section 11.02, a notice of its election
to redeem all of the Securities of such series at a future date in accordance with
Article XI);




          (2) no Event of Default or event (including such deposit) which with notice or lapse
of time would become an Event of Default with respect to the Securities of such series
shall have occurred and be continuing on the date of such deposit (other than an Event of
Default resulting from the borrowing of funds to be applied to such deposit);




          (3) the Company shall have delivered to the Trustee an Opinion of Counsel to the
effect that Holders of the Securities of such series will not recognize income, gain or
loss for Federal income tax purposes as a result of the Company’s exercise of its option
under this Section 4.03 and will be subject to Federal income tax on the same amount and in
the same manner and at the same times as would have been the case if such option had not
been exercised, and, in the case of Securities being Discharged, accompanied by a ruling to
that effect from the Internal Revenue Service, unless, as set forth in such Opinion of
Counsel, there has been a change in the applicable federal income tax law since the date of
this Indenture such that a ruling from the Internal Revenue Service is no longer required;




          (4) the Company shall have delivered to the Trustee an Officers’ Certificate stating
that the deposit referred to in paragraph (1) above was not made by the Company with the
intent of preferring the Holders over other



30









 






creditors of the Company or with the intent of
defeating, hindering, delaying or defrauding creditors of the Company or others; and




          (5) the Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel each stating that all conditions precedent herein provided for relating
to the satisfaction and discharge of this Indenture with respect to the Securities of such
series have been complied with.



          If the Company, at its option, with respect to a series of Securities, satisfies the
applicable conditions pursuant to either clause (a) or (b) of the first sentence of this Section,
then (x), in the event the Company satisfies the conditions to clause (a) and elects clause (a) to
be applicable, each of the Guarantors, if any, shall be deemed to have paid and discharged the
entire indebtedness represented by, and obligations under, its respective guarantee of the
Securities of such series and to have satisfied all the obligations under this Indenture relating
to the Securities of such series and (y) in either case, each of the Guarantors, if any, shall
cease to be under any obligation to comply with any term, provision or condition set forth in any
covenants applicable to such Securities that are determined pursuant to Section 3.01 to be subject
to this provision), and any Events of Default applicable to such series of Securities that are
determined pursuant to Section 3.01 to be subject to this provision shall be deemed not to be an
Event of Default with respect to such series of Securities at any time thereafter.




          “Discharged” means that the Company shall be deemed to have paid and discharged the
entire indebtedness represented by, and obligations under, the Securities of such series and to
have satisfied all the obligations under this Indenture relating to the Securities of such series
(and the Trustee, on receipt of a Company Request and at the expense of the Company, shall execute
proper instruments acknowledging the same), except (A) the rights of Holders of Securities to
receive, from the trust fund described in clause (1) above, payment of the principal and any
premium of and any interest on such Securities when such payments are due; (B) the Company’s
obligations with respect to such Securities under Sections 3.05, 3.06, 4.02, 6.07, 10.02 and 10.03;
(C) the Company’s right of redemption, if any, with respect to any Securities of such series
pursuant to Article XI, in which case the Company may redeem the Securities of such series in
accordance with Article XI by complying with such Article and depositing with the Trustee, in
accordance with Section 11.05, an amount of money sufficient, together with all amounts held in
trust pursuant to Section 4.02 with respect to Securities of such series, to pay the Redemption
Price of all the Securities of such series to be redeemed; and (D) the rights, powers, trusts,
duties and immunities of the Trustee hereunder. A “Discharge” shall mean the meeting by
the Company of the foregoing requirements.




          Section 4.04 Reinstatement. If the Trustee or Paying Agent is unable to apply any
money, property or securities in accordance with Section 4.02 of this Indenture, 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 and, if applicable,
the Guarantors’ obligations under this Indenture and the Securities shall be revived and reinstated
as though no deposit had occurred pursuant to Section 4.01 or 4.03 of this Indenture, as the case
may be, until such






31









 







time as the Trustee or Paying Agent is permitted to apply all such money,
property or securities in accordance with Section 4.02 of this Indenture; provided that, if the
Company has made any payment of principal of or interest on any Securities because of the
reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of
such Securities to receive such payment from the money, property or securities held by the Trustee
or Paying Agent.




ARTICLE V




Remedies



          Section 5.01 Events of Default. “Event of Default”, wherever used herein,
means with respect to any series of Securities 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), unless such event is either inapplicable to
a particular series or it is specifically deleted or modified in or pursuant to the indenture
supplemental hereto or Board Resolution creating such series of Securities or in the form of
Security for such series:





          (1) default in the payment of any interest upon any Security of that series when it
becomes due and payable, and continuance of such default for a period of 30 days; or




          (2) default in the payment of the principal of (or premium, if any, on) any Security
of that series at its Maturity; or




          (3) default in the payment of any sinking or purchase fund or analogous obligation
when the same becomes due by the terms of the Securities of such series; or




          (4) default in the performance, or breach, of any covenant or warranty of the Company
in this Indenture in respect of the Securities of such series (other than a covenant or
warranty in respect of the Securities of such series a default in the performance of which
or the breach of which is elsewhere in this Section specifically dealt with), all of such
covenants and warranties in the Indenture which are not expressly stated to be for the
benefit of a particular series of Securities being deemed in respect of the Securities of
all series for this purpose, and continuance of such default or breach for a period of 90
days after there has been given, by registered or certified mail, to the Company by the
Trustee or to the Company and the Trustee by the Holders of at least
331/3% in aggregate
principal amount of the Outstanding Securities of such series, 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; or




          (5) the entry of an order for relief against the Company or any Significant Subsidiary
thereof under Title 11, United States Code (the “Federal 



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Bankruptcy Act”) by a
court having jurisdiction in the premises or a decree or order by a court having
jurisdiction in the premises adjudging the Company or any Significant Subsidiary thereof a
bankrupt or insolvent under any other applicable Federal or State law, or the entry of a
decree or order approving as properly filed a petition seeking reorganization, arrangement,
adjustment or composition of or in respect of the Company or any Significant Subsidiary
thereof under the Federal Bankruptcy Act or any other applicable Federal or State law, or
appointing a receiver, liquidator, assignee, trustee, sequestrator (or other similar
official) of the Company or any Significant Subsidiary thereof 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 unstayed and in effect for a period of 90
consecutive days; or




          (6) the consent by the Company or any Significant Subsidiary thereof to the
institution of bankruptcy or insolvency proceedings against it, or the filing by it of a
petition or answer or consent seeking reorganization or relief under the Federal Bankruptcy
Act or any other applicable Federal or State law, or the consent by it to the filing of any
such petition or to the appointment of a receiver, liquidator, assignee, trustee,
sequestrator (or other similar official) of the Company or any Significant Subsidiary
thereof 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 or any
Significant Subsidiary thereof in furtherance of any such action; or




          (7) any other Event of Default provided in the indenture supplemental hereto or Board
Resolution under which such series of Securities is issued or in the form of Security for
such series.



          Section 5.02 Acceleration of Maturity; Rescission and Annulment. If an Event of
Default described in paragraph (1), (2), (3), (4) or (7) (if the Event of Default under clause (4)
or (7) is with respect to less than all series of Securities then Outstanding) of Section 5.01
occurs and is continuing with respect to any series, then and in each and every such case, unless
the principal of all the Securities of such series shall have already become due and payable,
either the Trustee or the Holders of not less than 331/3% in aggregate principal amount of the
Securities of such series then Outstanding hereunder (each such series acting as a separate class),
by notice in writing to the Company (and to the Trustee if given by Holders), may declare the
principal amount (or, if the Securities of such series are Original Issue Discount Securities, such
portion of the principal amount as may be specified in the terms of that series) of all the
Securities of such series and all accrued interest thereon to be due and payable immediately, and
upon any such declaration the same shall become and shall be immediately due and payable, anything
in this Indenture or in the Securities of such series contained to the contrary notwithstanding.
If an Event of Default described in clause (4) or (7) (if the Event of Default under clause (4) or
(7) is with respect to all series of Securities then Outstanding), of Section 5.01 occurs and is
continuing, then and in each and every such case, unless the principal of all the Securities shall
have already become due and payable, either the





33









 







Trustee or the Holders of not less than 331/3% in
aggregate principal amount of all the Securities then Outstanding hereunder (treated as one class),
by notice in writing to the Company (and to the Trustee if given by Holders), may declare the
principal amount (or, if any Securities are Original Issue Discount Securities, such portion of the
principal amount as may be specified in the terms thereof) of all the Securities then Outstanding
and all accrued interest thereon to be due and payable immediately, and upon any such declaration
the same shall become and shall be immediately due and payable, anything in this Indenture or in
the Securities contained to the contrary notwithstanding. If an Event of Default of the type set
forth in clause (5) or (6) of Section 5.01 occurs and is continuing, the principal of and any
interest on the Securities then outstanding shall become immediately due and payable.




          At any time after such a declaration of acceleration has been made with respect to the
Securities of any or all series, as the case may be, and before a judgment or decree for payment of
the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders
of a majority in principal amount of the outstanding Securities of such series, by written notice
to the Company and the Trustee, may rescind and annul such declaration and its consequences if:





          (1) the Company has paid or deposited with the Trustee a sum sufficient to pay:




               (A) all overdue installments of interest on the Securities of such series; and




               (B) the principal of (and premium, if any, on) any Securities of such series which
have become due otherwise than by such declaration of acceleration, and interest thereon at
the rate or rates prescribed therefor by the terms of the Securities of such series, to the
extent that payment of such interest is lawful; and




               (C) interest upon overdue installments of interest at the rate or rates prescribed
therefor by the terms of the Securities of such series to the extent that payment of such
interest is lawful; 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 all other amounts due the Trustee under Section 6.07; and




          (2) all Events of Default with respect to such series of Securities, other than the
nonpayment of the principal of the Securities of such series which have become due solely
by such acceleration, have been cured or waived as provided in Section 5.13.


No such rescission shall affect any subsequent default or impair any right consequent thereon.





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          Section 5.03 Collection of Indebtedness and Suits for Enforcement by Trustee. The
Company covenants that if:





          (1) default is made in the payment of any installment of interest on any Security of
any series when such interest becomes due and payable; or




          (2) default is made in the payment of the principal of (or premium, if any, on) any
Security at the Maturity thereof; or




          (3) default is made in the payment of any sinking or purchase fund or analogous
obligation when the same becomes due by the terms of the Securities of any series;


and any such default continues for any period of grace provided with respect to the Securities of
such series, the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holder
of any such Security (or the Holders of any such series in the case of clause (3) above), the whole
amount then due and payable on any such Security (or on the Securities of any such series in the
case of clause (3) above) for principal (and premium, if any) and interest, with interest, to the
extent that payment of such interest shall be legally enforceable, upon the overdue principal (and
premium, if any) and upon overdue installments of interest, at such rate or rates as may be
prescribed therefor by the terms of any such Security (or of Securities of any such series in the
case of clause (3) above); and, in addition thereto, such further amount as shall be sufficient to
cover the costs and expenses of collection, including the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel and all other amounts due the
Trustee under Section 6.07.




          If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own
name and as trustee of an express trust, may institute a judicial proceeding for the collection of
the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may
enforce the same against the Company or any other obligor upon the Securities of such series and
collect the money adjudged or decreed to be payable in the manner provided by law out of the
property of the Company or any other obligor upon such Securities, wherever situated.




          If an Event of Default with respect to any series of Securities occurs and is continuing, the
Trustee may in its discretion proceed to protect and enforce its rights and the rights of the
Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall
deem most effectual to protect and enforce any such rights, whether for the specific enforcement of
any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein,
or to enforce any other proper remedy.




          Section 5.04 Trustee May File Proofs of Claim. In case of the pendency of any
receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment,
composition or other judicial proceeding relative to the





35









 







Company or any other obligor upon the
Securities or the property of the Company or of such other obligor or their creditors, the Trustee
(irrespective of whether the principal of the Securities shall then be due and payable as therein
expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made
any demand on the Company for the payment of overdue principal or interest) shall be entitled and
empowered, by intervention in such proceedings or otherwise:




          (i) to file and prove a claim for the whole amount of principal (or portion thereof determined
pursuant to Section 3.01(16) to be provable in bankruptcy) (and premium, if any) and interest owing
and unpaid in respect of the Securities and to file such other papers or documents as may be
necessary and advisable in order to have the claims of the Trustee (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel and all other amounts due the Trustee under Section 6.07) and of the Securityholders
allowed in such judicial proceeding; and




          (ii) to collect and receive any moneys or other property payable or deliverable on any such
claims and to distribute the same;




and any receiver, assignee, trustee, liquidator, sequestrator (or other similar official) in any
such judicial proceeding is hereby authorized by each Securityholder to make such payment to the
Trustee and in the event that the Trustee shall consent to the making of such payments directly to
the Securityholders, to pay to the Trustee any amount due to it for the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts
due the Trustee under Section 6.07.




          Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to
or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement,
adjustment or composition affecting the Securities or the rights of any Holder thereof, or to
authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding.




          Section 5.05 Trustee May Enforce Claims Without Possession of Securities. All rights
of action and claims under this Indenture or the Securities of any series may be prosecuted and
enforced by the Trustee without the possession of any of the Securities of such series or the
production thereof in any proceeding relating thereto, and any such proceeding instituted by the
Trustee shall be brought in its own name as trustee of an express trust, and any recovery of
judgment shall, after provision for the payment of the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agent and counsel and any other amounts due the
Trustee under Section 6.07, be for the ratable benefit of the Holders of the Securities of the
series in respect of which such judgment has been recovered.




          Section 5.06 Application of Money Collected. Any money collected by the Trustee with
respect to a series of Securities pursuant to this Article shall be applied in the following order,
at the date or dates fixed by the Trustee and, in case of the distribution of such money on account
of principal (or premium, if any) or interest, upon




36









 







presentation of the Securities of such series
and the notation thereon of the payment if only partially paid and upon surrender thereof if fully
paid:





          FIRST: To the payment of all amounts due the Trustee under 


Section 6.07.




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




          THIRD: To the Company.



          Section 5.07 Limitation on Suits. No Holder of any Security of any series shall have
any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or
for the appointment of a receiver or trustee, or for any other remedy hereunder, unless:





          (1) such Holder has previously given written notice to the Trustee of a continuing
Event of Default with respect to Securities of such series;




          (2) the Holders of not less than 331/3%% in principal amount of the outstanding
Securities of such series shall have made written request to the Trustee to institute
proceedings in respect of such Event of Default in its own name as Trustee hereunder;




          (3) such Holder or Holders have offered to the Trustee indemnity reasonably
satisfactory to it against the costs, expenses and liabilities to be incurred in compliance
with such request;




          (4) the Trustee for 60 days after its receipt of such notice, request and offer of
indemnity has failed to institute any such proceeding; and




          (5) no direction inconsistent with such written request has been given to the Trustee
during such 60-day period by the Holders of a majority in principal amount of the
Outstanding Securities of such series;


it being understood and intended that no one or more Holders of Securities of such series shall
have any right in any manner whatever by virtue of, or by availing of, any provision of this
Indenture to affect, disturb or prejudice the rights of any other Holders of Securities of such
series, or to obtain or to seek to obtain priority or preference over any other such Holders or to
enforce any right under this Indenture, except in the manner herein provided and for the equal and
proportionate benefit of all the Holders of all Securities of such series.





37









 








          Section 5.08 Unconditional Right of Securityholders to Receive Principal, Premium and
Interest. Notwithstanding any other provisions in this Indenture, the Holder of any Security
shall have the right, which is absolute and unconditional, to receive payment of the principal of
(and premium, if any) and (subject to Section 3.07) interest on such Security on the respective
Stated Maturities expressed in such Security (or, in the case of redemption or repayment, on the
Redemption Date or Repayment Date, as the case may be) and to institute suit for the enforcement of
any such payment, and such right shall not be impaired without the consent of such Holder.




          Section 5.09 Restoration of Rights and Remedies. If the Trustee or any Securityholder
has instituted any proceeding to enforce any right or remedy under this Indenture and such
proceeding has been discontinued or abandoned for any reason, then and in every such case the
Company, the Trustee and the Securityholders shall, subject to any determination in such
proceeding, be restored severally and respectively to their former positions hereunder, and
thereafter all rights and remedies of the Trustee and the Securityholders shall continue as though
no such proceeding had been instituted.




          Section 5.10 Rights and Remedies Cumulative. No right or remedy herein conferred upon
or reserved to the Trustee or to the Securityholders 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.




          Section 5.11 Delay or Omission Not Waiver. No delay or omission of the Trustee or of
any Holder of any Security 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 Securityholders may be exercised from time to time, and as often as may be deemed expedient, by
the Trustee or by the Securityholders, as the case may be.




          Section 5.12 Control by Securityholders. The Holders of a majority in principal
amount of the Outstanding Securities of any series shall have the right to direct the time, method
and place of conducting any proceeding for any remedy available to the Trustee or exercising any
trust or power conferred on the Trustee with respect to the Securities of such series, provided
that:





          (1) the Trustee shall have the right to decline to follow any such direction if the
Trustee, being advised by counsel, determines that the action so directed may not lawfully
be taken or would conflict with this Indenture or if the Trustee in good faith shall, by a
Responsible Officer, determine that the proceedings so directed would involve it in
personal liability or be unjustly prejudicial to the Holders not taking part in such
direction, and



38









 






          (2) the Trustee may take any other action deemed proper by the Trustee which is not
inconsistent with such direction.



          Section 5.13 Waiver of Past Defaults. The Holders of not less than a majority in
principal amount of the Outstanding Securities of any series may on behalf of the Holders of all
the Securities of such series waive any past default hereunder with respect to such series and its
consequences, except a default not theretofore cured:





          (1) in the payment of the principal of (or premium, if any) or interest on any
Security of such series, or in the payment of any sinking or purchase fund or analogous
obligation with respect to the Securities of such series, or




          (2) in respect of a covenant or provision hereof which under Article IX cannot be
modified or amended without the consent of the Holder of each Outstanding Security of such
series.



          Upon any such waiver, such default shall cease to exist, and any Event of Default arising
therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such
waiver shall extend to any subsequent or other default or impair any right consequent thereon.




          Section 5.14 Undertaking for Costs. All parties to this Indenture agree, and each
Holder of any Security by his acceptance thereof shall be deemed to have agreed, that any court may
in its discretion require, in any suit for the enforcement of any right or remedy under this
Indenture, or in any suit against the Trustee for any action taken or omitted by it as Trustee, the
filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that
such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees and
expenses, against any party litigant in such suit, having due regard to the merits and good faith
of the claims or defenses made by such party litigant; but the provisions of this Section shall not
apply to any suit instituted by the Trustee, to any suit instituted by any Securityholder, or group
of Securityholders, holding in the aggregate more than 10% in principal amount of the Outstanding
Securities of any series to which the suit relates, or to any suit instituted by any Securityholder
for the enforcement of the payment of the principal of (or premium, if any) or interest on an
Security on or after the respective Stated Maturities expressed in such Security (or, in the case
of redemption or repayment, on or after the Redemption Date or Repayment Date, as the case may be).




          Section 5.15 Waiver of Stay or Extension Laws. The Company covenants (to the extent
that it may lawfully do so) that it will 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 covenants that it will not hinder, delay or impede the
execution of any power





39









 







herein granted to the Trustee, but will suffer and permit the execution of
every such power as though no such law had been enacted.




ARTICLE VI




The Trustee



          Section 6.01 Certain Duties and Responsibilities. (a) Except during the continuance
of an Event of Default with respect to any series of Securities:





          (1) the Trustee undertakes to perform such duties and only such duties as are
specifically set forth in this Indenture with respect to the Securities of such series, 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, with respect to
Securities of such series, 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; but 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 be under a duty to examine the same 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).



          (b) In case an Event of Default with respect to any series of Securities has occurred and is
continuing, the Trustee shall exercise with respect to the Securities of such series such of the
rights and powers vested in it by this Indenture and any indenture supplemental hereto or Board
Resolution relating to such series of Securities, and use the same degree of care and skill in
their exercise, as a prudent man would exercise or use under the circumstances in the conduct of
his own affairs.




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





          (1) this Subsection shall not be construed to limit the effect of Subsection (a) of
this Section;




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




          (3) the Trustee shall not be liable with respect to any action taken or omitted to be
taken by it in good faith in accordance with the direction of the Holders of a majority in
principal amount of the Outstanding Securities of any series relating to the time, method
and place of conducting any



40









 






proceeding for any remedy available to the Trustee, or
exercising any trust or power conferred upon the Trustee, under this Indenture with respect
to the Securities of such series; and




          (4) no provision of this Indenture shall require the Trustee to expend or risk its own
funds or otherwise incur any financial liability in the performance of any of its duties
hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable
grounds for believing that repayment of such funds or adequate indemnity against such risk
or liability is not reasonably assured to it.



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




          Section 6.02 Notice of Defaults. Within 90 days after the occurrence of any default
hereunder with respect to Securities of any series, the Trustee shall transmit by mail to all
Securityholders of such series, as their names and addresses appear in the Security Register,
notice of such default hereunder known to the Trustee, unless such default shall have been cured or
waived; provided, however, that, except in the case of a default in the payment of the principal of
(or premium, if any) or interest on any Security of such series or in the payment of any sinking or
purchase fund installment or analogous obligation with respect to Securities of such series, the
Trustee shall be protected in withholding such notice if and so long as the board of directors, the
executive committee or a trust committee of directors and/or Responsible Officers of the Trustee in
good faith determine that the withholding of such notice is in the interests of the Securityholders
of such series; and provided, further, that in the case of any default of the character specified
in Section 5.01(4) with respect to Securities of such series no such notice to Securityholders of
such series shall be given until at least 90 days after the occurrence thereof. For the purpose of
this Section, the term “default”, with respect to Securities of any series, means any event which
is, or after notice or lapse of time or both would become, an Event of Default with respect to
Securities of such series.




          Section 6.03 Certain Rights of Trustee. Except as otherwise provided in Section 6.01:





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




          (b) any request or direction of the Company mentioned herein shall be sufficiently
evidenced by a Company Request or Company Order and any resolution of the Board of
Directors may be sufficiently evidenced by a Board Resolution;



41









 






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




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




          (e) 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 Securityholders
pursuant to this Indenture, unless such Securityholders shall have offered to the Trustee
security or indemnity reasonably satisfactory to it against the costs, expenses and
liabilities which might be incurred by it in compliance with such request or direction;




          (f) the Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report, notice,
request, direction, consent, order, bond, debenture 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;




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




          (h) the Trustee shall not be charged with knowledge of any default (as defined in
Section 6.02) or Event of Default with respect to the Securities of any series for which it
is acting as Trustee unless either (1) a Responsible Officer of the Trustee assigned to the
Corporate Trust Department of the Trustee (or any successor division or department of the
Trustee) shall have actual knowledge of such default or Event of Default or (2) written
notice of such default or Event of Default shall have been given to the Trustee by the
Company or any other obligor on such Securities or by any Holder of such Securities;




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



42









 






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



          Section 6.04 Not Responsible for Recitals or Issuance of Securities. The recitals
contained herein and in the Securities, except the certificates of authentication, shall be taken
as the statements of the Company, and the Trustee assumes no responsibility for their correctness.
The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the
Securities. The Trustee shall not be accountable for the use or application by the Company of
Securities or the proceeds thereof.




          Section 6.05 May Hold Securities. The Trustee, any Authenticating Agent, any Paying
Agent, the Security Registrar, any Conversion Agent or any other agent of the Company, in its
individual or any other capacity, may become the owner or pledgee of Securities and, subject to
Sections 6.08 and 6.13, may otherwise deal with the Company or any Guarantor, if applicable, with
the same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, Security
Registrar, Conversion Agent or such other agent.




          Section 6.06 Money Held in Trust. Subject to the provisions of Section 10.03 hereof,
all moneys in any currency or currency received by the Trustee shall, until used or applied as
herein provided, be held in trust for the purposes for which they were received, but need not be
segregated from other funds except to the extent required by law. The Trustee shall be under no
liability for interest on any money received by it hereunder except as otherwise agreed in writing
with the Company.




          Section 6.07 Compensation and Reimbursement. The Company agrees:





          (1) to pay to the Trustee from time to time reasonable compensation for all services
rendered by it hereunder (which compensation shall not be limited by any provision of law
in regard to the compensation of a trustee of an express trust);




          (2) except as otherwise expressly provided herein, to reimburse the Trustee upon its
request for all reasonable expenses, disbursements and advances incurred or made by the
Trustee in accordance with any provision of this Indenture (including the reasonable
compensation and the expenses and disbursements of its agents and counsel), except any such
expense, disbursement or advance as shall be determined to have been caused by its own
negligence or bad faith; and




          (3) to indemnify the Trustee for, and to hold it harmless against, any loss, liability
or expense incurred without negligence or bad faith on its part, arising out of or in
connection with the acceptance or administration of



43









 






this trust, including the costs and
expenses of defending itself against any claim or liability in connection with the exercise
or performance of any of its powers or duties hereunder.



          As security for the performance of the obligations of the Company under this Section the
Trustee shall have a lien prior to the Securities upon all property and funds held or collected by
the Trustee as such, except funds held in trust for the payment of principal of (and premium, if
any) or interest on particular Securities.




          When the Trustee incurs expenses or renders services in connection with an Event of Default
specified in Section 5.01(5) or (6), the expenses and the compensation for the services are
intended to constitute expenses of administration under any bankruptcy law.




          The Company’s obligations under this Section 6.07 and any lien arising hereunder shall survive
the resignation or removal of any Trustee, the discharge of the Company’s obligations pursuant to
Article IV of this Indenture and/or the termination of this Indenture.




          Section 6.08 Disqualification; Conflicting Interests. The Trustee for the Securities
of any series issued hereunder shall be subject to the provisions of Section 310(b) of the Trust
Indenture Act during the period of time provided for therein. In determining whether the Trustee
has a conflicting interest as defined in Section 310(b) of the Trust Indenture Act with respect to
the Securities of any series, there shall be excluded this Indenture with respect to Securities of
any particular series of Securities other than that series. Nothing herein shall prevent the
Trustee from filing with the Commission the application referred to in the second to last paragraph
of Section 310(b) of the Trust Indenture Act.




          Section 6.09 Corporate Trustee Required; Eligibility. There shall at all times be a
Trustee hereunder with respect to each series of Securities, which shall be either:




          (i) a corporation organized and doing business under the laws of the United States of America
or of any State, authorized under such laws to exercise corporate trust powers and subject to
supervision or examination by Federal or State authority, or




          (ii) a corporation or other Person organized and doing business under the laws of a foreign
government that is permitted to act as Trustee pursuant to a rule, regulation or order of the
Commission, authorized under such laws to exercise corporate trust powers, and subject to
supervision or examination by authority of such foreign government or a political subdivision
thereof substantially equivalent to supervision or examination applicable to United States
institutional trustees;



in either case having a combined capital and surplus of at least $50,000,000. If such corporation
publishes reports of condition at least annually, pursuant to law or to the





44









 







requirements of the
aforesaid supervising or examining authority, then for the purposes of this Section, the combined
capital and surplus of such corporation shall be deemed to be its combined capital and surplus as
set forth in its most recent report of condition so published. Neither the Company nor any Person
directly or indirectly controlling, controlled by, or under common control with the Company shall
serve as trustee for the Securities of any series issued hereunder. If at any time the Trustee
with respect to any series of Securities shall cease to be eligible in accordance with the
provisions of this Section, it shall resign immediately in the manner and with the effect specified
in Section 6.10.




          Section 6.10 Resignation and Removal. (a) No resignation or removal of the Trustee
and no appointment of a successor Trustee pursuant to this Article shall become effective until the
acceptance of appointment by the successor Trustee under Section 6.11.




          (b) The Trustee may resign with respect to any series of Securities at any time by giving
written notice thereof to the Company. If an instrument of acceptance by a successor Trustee shall
not have been delivered to the Trustee within 30 days after the giving of such notice of
resignation, the resigning Trustee may petition any court of competent jurisdiction for the
appointment of a successor Trustee.




          (c) The Trustee may be removed with respect to any series of Securities at any time by Act of
the Holders of a majority in principal amount of the outstanding Securities of that series,
delivered to the Trustee and to the Company. If an instrument of acceptance by a successor Trustee
shall not have been delivered to the Trustee within 30 days after the giving of such notice of
removal, the removed Trustee may petition any court of competent jurisdiction for the appointment
of a successor Trustee.




          (d) If at any time:





               (1) the Trustee shall fail to comply with Section 310(b) of the Trust Indenture Act
pursuant to Section 6.08 with respect to any series of Securities after written request
therefor by the Company or by any Securityholder who has been a bona fide Holder of a
Security of that series for at least six months, unless the Trustee’s duty to resign is
stayed in accordance with the provisions of Section 310(b) of the Trust Indenture Act, or




               (2) the Trustee shall cease to be eligible under Section 6.09 with respect to any
series of Securities and shall fail to resign after written request therefor by the Company
or by any such Securityholder, or




               (3) the Trustee shall become incapable of acting with respect to any series of
Securities, or




               (4) the Trustee shall be adjudged a bankrupt or insolvent or a receiver of the Trustee
or of its property shall be appointed or any public officer shall take charge or control of
the Trustee or of its property or



45









 






affairs for the purpose of rehabilitation, conservation
or liquidation, then, in any such case, (i) the Company by a Board Resolution may remove
the Trustee, with respect to the series, or in the case of clause (4), with respect to all
series, or (ii) subject to Section 5.14, any Securityholder who has been a bona fide Holder
of a Security of such series for at least six months may, on behalf of himself and all
others similarly situated, petition any court of competent jurisdiction for the removal of
the Trustee and the appointment of a successor Trustee with respect to the series, or, in
the case of clause (4), with respect to all series.



          (e) If the Trustee shall resign, be removed or become incapable of acting with respect to any
series of Securities, or if a vacancy shall occur in the office of the Trustee with respect to any
series of Securities for any cause, the Company, by Board Resolution, shall promptly appoint a
successor Trustee for that series of Securities.




          If, within one year after such resignation, removal or incapacity, or the occurrence of such
vacancy, a successor Trustee with respect to such series of Securities shall be appointed by Act of
the Holders of a majority in principal amount of the Outstanding Securities of such series
delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall,
forthwith upon its acceptance of such appointment, become the successor Trustee with respect to
such series and supersede the successor Trustee appointed by the Company with respect to such
series. If no successor Trustee with respect to such series shall have been so appointed by the
Company or the Securityholders of such series and accepted appointment in the manner hereinafter
provided, subject to Section 5.14, any Securityholder who has been a bona fide Holder of a Security
of that series for at least six months may, on behalf of himself and all others similarly situated,
petition any court of competent jurisdiction for the appointment of a successor Trustee with
respect to such series.




          (f) The Company shall give notice of each resignation and each removal of the Trustee with
respect to any series and each appointment of a successor Trustee with respect to any series by
mailing written notice of such event by first-class mail, postage prepaid, to the Holders of
Securities of that series as their names and addresses appear in the Security Register. Each
notice shall include the name of the successor Trustee and the address of its principal Corporate
Trust Office.




          Section 6.11 Acceptance of Appointment by Successor. Every successor Trustee
appointed hereunder shall execute, acknowledge and deliver to the Company and to the predecessor
Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the
predecessor Trustee shall become effective with respect to any series as to which it is resigning
or being removed as Trustee, and such successor Trustee, without any further act, deed or
conveyance, shall become vested with all the rights, powers, trusts and duties of the predecessor
Trustee with respect to any such series; but, on request of the Company or the successor Trustee,
such predecessor Trustee shall, upon payment of its reasonable charges, if any, execute and deliver
an instrument transferring to such successor Trustee all the rights, powers and trusts of the
predecessor Trustee, and shall duly assign, transfer and deliver to such successor Trustee all
property and money held by such predecessor trustee hereunder




46









 







with respect to all or any such
series, subject nevertheless to its lien, if any, provided for in Section 6.07. Upon request of
any such successor Trustee, the Company shall execute any and all instruments for more fully and
certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts.




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



     No successor Trustee with respect to any series of Securities shall accept its appointment
unless at the time of such acceptance such successor Trustee shall be qualified and eligible with
respect to that series under this Article.



     Section 6.12 Merger, Conversion, Consolidation or Succession to Business. Any
corporation into which the Trustee may be merged or converted or with which it may be consolidated,
or any corporation resulting from any merger, conversion or consolidation to which the Trustee
shall be a party, or any corporation succeeding to all or substantially all of the corporate trust
business of the Trustee, shall be the successor of the Trustee hereunder, provided such corporation
shall be otherwise qualified and eligible under this Article, without the execution or filing of
any paper or any further act on the part of any of the parties hereto. In case any Securities
shall have been authenticated, but not delivered, by the Trustee then in office, any successor by
merger, conversion or consolidation to such authenticating Trustee may adopt such authentication
and deliver the Securities so authenticated with the same effect as if such successor Trustee had
itself authenticated such Securities.



     Section 6.13 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.



     Section 6.14 Appointment of Authenticating Agent. At any time when any of the
Securities remain Outstanding the Trustee, with the approval of the Company, may appoint an
Authenticating Agent or Agents with respect to one or more series of Securities which shall be
authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon
original issuance, exchange, registration of transfer or partial redemption thereof or pursuant to
Section 3.06, and



47









 




Securities so authenticated shall be entitled to the benefits of this Indenture
and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder.
Wherever reference is made in this Indenture to the authentication and delivery of Securities by
the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to
include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a
certificate of authentication executed on behalf of the Trustee by an Authenticating Agent. Each
Authenticating Agent shall be acceptable to the Company and shall at all times be a corporation
organized and doing business under the laws of the United States of America, any State thereof or
the District of Columbia, authorized under such laws to act as an Authenticating Agent, having a
combined capital and surplus of not less than $50,000,000 and, if other than the Company itself,
subject to supervision or examination by Federal or State authority. If such Authenticating Agent
publishes reports of condition at least annually, pursuant to law or to the requirements of said
supervising or examining authority, then for the purposes of this Section, the combined capital and
surplus of such Authenticating Agent shall be deemed to be its combined capital and surplus as set
forth in its most recent report of condition so published. If at any time an Authenticating Agent
shall cease to be eligible in accordance with the provisions of this Section, such Authenticating
Agent shall resign immediately in the manner and with the effect specified in this Section.




          Any corporation into which an Authenticating Agent may be merged or converted or with which it
may be consolidated, or any corporation resulting from any merger, conversion or consolidation to
which such Authenticating Agent shall be a party, or any corporation succeeding to the corporate
agency or corporate trust business of an Authenticating Agent, shall continue to be an
Authenticating Agent, provided such corporation shall be otherwise eligible under this Section,
without the execution or filing of any paper or any further act on the part of the Trustee or the
Authenticating Agent.




          An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee
and, if other than the Company, to the Company. The Trustee may at any time terminate the agency
of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and, if
other than the Company, to the Company. Upon receiving such a notice of resignation or upon such a
termination, or in case at any time such Authenticating Agent shall cease to be eligible in
accordance with the provisions of this Section, the Trustee, with the approval of the Company, may
appoint a successor Authenticating Agent which shall be acceptable to the Company and shall mail
written notice of such appointment by first-class mail, postage prepaid, to all Holders of
Securities of the series with respect to which such Authenticating Agent will serve, as their names
and addresses appear in the Security Register. Any successor Authenticating Agent upon acceptance
of its appointment hereunder shall become vested with all the rights, powers and duties of its
predecessor hereunder, with like effect as if originally named as an Authenticating Agent. No
successor Authenticating Agent shall be appointed unless eligible under the provisions of this
Section.




          The Company agrees to pay to each Authenticating Agent from time to time reasonable
compensation for its services under this Section.





48









 








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




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




          [Name of Authenticating Agent]




	 	 	 	 	 	 	 

	 

	 	by
	 	  

As
Authenticating Agent
	 	 
	 
	 	 	 	 	 	 
	 

	 	by
	 	  

As
Authorized Agent
	 	 
	 
	 	 	 	 	 	 
	 

	 	Dated
	 	 
 

	 	 






ARTICLE VII




Securityholders’ Lists and Reports by

Trustee and Company



          Section 7.01 Company to Furnish Trustee Names and Addresses of Securityholders.




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





          (1) semi-annually, not more than 15 days after December 15 and June 15 in each year in
such form as the Trustee may reasonably require, a list of the names and addresses of the
Holders of Securities of each series as of such December 15 and June 15, as applicable, and




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



          Section 7.02 Preservation of Information; Communications to Securityholders. (a) The
Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses
of Holders of Securities contained in the most recent list furnished to the Trustee as provided in
Section 7.01 and the names and addresses of Holders of Securities received by the Trustee in its
capacity as Security Registrar, if so




49









 







acting. The Trustee may destroy any list furnished to it as
provided in Section 7.01 upon receipt of a new list so furnished.




          (b) If three or more Holders of Securities of any series (hereinafter referred to as
“applicants”) apply in writing to the Trustee, and furnish to the Trustee reasonable proof
that each such applicant has owned a Security of such series for a period of at least six months
preceding the date of such application, and such application states that the applicants desire to
communicate with other Holders of Securities of such series or with the Holders of all Securities
with respect to their rights under this Indenture or under such Securities and is accompanied by a
copy of the form of proxy or other communication which such applicants propose to transmit, then
the Trustee shall, within five Business Days after the receipt of such application, at its
election, either:





          (1) afford such applicants access to the information preserved at the time by the
Trustee in accordance with Section 7.02(a), or




          (2) inform such applicants as to the approximate number of Holders of Securities of
such series or all Securities, as the case may be, whose names and addresses appear in the
information preserved at the time by the Trustee in accordance with Section 7.02(a), and as
to the approximate cost of mailing to such Securityholders the form of proxy or other
communication, if any, specified in such application.



          If the Trustee shall elect not to afford such applicants access to such information, the
Trustee shall, upon the written request of such applicants, mail to each Holder of a Security of
such series or to all Securityholders, as the case may be, whose names and addresses appear in the
information preserved at the time by the Trustee in accordance with Section 7.02(a), a copy of the
form of proxy or other communication which is specified in such request, with reasonable promptness
after a tender to the Trustee of the material to be mailed and of payment, or provision for the
payment, of the reasonable expenses of mailing, unless, within five days after such tender, the
Trustee shall mail to such applicants and file with the Commission, together with a copy of the
material to be mailed, a written statement to the effect that, in the opinion of the Trustee, such
mailing would be contrary to the best interests of the Holders of Securities of such series or all
Securityholders, as the case may be, or would be in violation of applicable law. Such written
statement shall specify the basis of such opinion. If the Commission, after opportunity for a
hearing upon the objections specified in the written statement so filed, shall enter an order
refusing to sustain any of such objections or if, after the entry of an order sustaining one or
more of such objections, the Commission shall find, after notice and opportunity for hearing, that
all the objections so sustained have been met and shall enter an order so declaring, the Trustee
shall mail copies of such material to all Securityholders of such series or all Securityholders, as
the case may be, with reasonable promptness after the entry of such order and the renewal of such
tender; otherwise the Trustee shall be relieved of any obligation or duty to such applicants
respecting their application.





50









 








          (c) Every Holder of Securities, by receiving and holding the same, agrees with the Company and
the Trustee that neither the Company nor the Trustee shall be held accountable by reason of the
disclosure of any such information as to the names and addresses of the Holders of Securities in
accordance with Section 7.02(b), regardless of the source from which such information was derived,
and that the Trustee shall not be held accountable by reason of mailing any material pursuant to a
request made under Section 7.02(b).




          Section 7.03 Reports by Trustee. (a) Within 60 days after May 15 of each year
commencing with the first May 15 after the issuance of Securities, the Trustee shall transmit by
mail, at the Company’s expense, to all Holders as their names and addresses appear in the Security
Register, as provided in Trust Indenture Act 313(c), a brief report dated as of May 15 in
accordance with and with respect to the matters required by Trust Indenture Act Section 313(a).




          (b) The Trustee shall transmit by mail, at the Company’s expense, to all Holders as their
names and addresses appear in the Security Register, as provided in Trust Indenture Act 313(c), a
brief report in accordance with and with respect to the matters required by Trust Indenture Act
Section 313(b).




          (c) A copy of each such report shall, at the time of such transmission to Holders, be
furnished to the Company and, in accordance with Trust Indenture Act Section 313(d), be filed by
the Trustee with each stock exchange upon which the Securities are listed, and also with the
Commission.




          Section 7.04 Reports by Company. The Company shall file with the Trustee, and
transmit to Holders, such information, documents and other reports, and such summaries thereof, as
may be required pursuant to the Trust Indenture Act at the times and in the manner provided
pursuant to such Act; provided that any such information, documents or reports required to be filed
with the Commission pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 shall be
filed with the Trustee within 15 days after the same is so required to be filed with the
Commission. The Company also shall comply with the other provisions of Trust Indenture Act
Section 314(a). Delivery of such reports, information and documents to the Trustee is for
informational purposes only and the Trustee’s receipt of such shall not constitute constructive
notice of any information contained therein or determinable from information contained therein,
including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is
entitled to rely exclusively on Officers’ Certificates).




ARTICLE VIII




Consolidation, Merger, Conveyance or Transfer



          Section 8.01 Consolidation, Merger, Conveyance or Transfer on Certain Terms. Except
as otherwise set forth in an indenture supplemental hereto or Board Resolution creating such series
of Securities or in the form of security for such




51









 







Series, the Company shall not consolidate with or
merge into any other Person or convey or transfer its properties and assets substantially as an
entirety to any Person, unless:





          (1) the Person formed by such consolidation or into which the Company is merged or the
Person which acquires by conveyance or transfer the properties and assets of the Company
substantially as an entirety shall be organized and existing under the laws of the United
States of America or any State thereof or the District of Columbia, and shall expressly
assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form
reasonably satisfactory to the Trustee, the due and punctual payment of the principal of
(and premium, if any) and interest on all the Securities and the performance of every
covenant of this Indenture (as supplemented from time to time) on the part of the Company
to be performed or observed;




          (2) immediately after giving effect to such transaction, no Event of Default, and no
event which, after notice or lapse of time, or both, would become an Event of Default,
shall have happened and be continuing; and




          (3) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion
of Counsel each stating that such consolidation, merger, conveyance or transfer and such
indenture supplemental hereto comply with this Article and that all conditions precedent
herein provided for relating to such transaction have been complied with.



          Section 8.02 Successor Person Substituted. Upon any consolidation or merger, or any
conveyance or transfer of the properties and assets of the Company substantially as an entirety in
accordance with Section 8.01, the successor Person formed by such consolidation or into which the
Company is merged or to which such conveyance or transfer is made shall succeed to, and be
substituted for, and may exercise every right and power of, the Company under this Indenture with
the same effect as if such successor had been named as the Company herein. In the event of any
such conveyance or transfer, the Company as the predecessor shall be discharged from all
obligations and covenants under this Indenture and the Securities and may be dissolved, wound up or
liquidated at any time thereafter.




ARTICLE IX




Supplemental Indentures



          Section 9.01 Supplemental Indentures Without Consent of Securityholders. Except as
otherwise set forth in an indenture supplemental hereto or Board Resolution creating such series of
Securities or in the form of Security for such series, without the consent of the Holders of any
Securities, the Company, when authorized by a Board Resolution, and the Trustee, at any time and
from time to time, may enter into one or more indentures supplemental hereto, in form reasonably
satisfactory to the Trustee, for any of the following purposes:




52









 









          (1) to evidence the succession of another corporation or Person to the Company or any
Guarantor, if any, and the assumption by any such successor of the respective covenants of
the Company or any Guarantor herein and in the Securities contained; or




          (2) to add to the covenants of the Company or any Guarantor, if any, or to surrender
any right or power herein conferred upon the Company or any Guarantor, for the benefit of
the Holders of the Securities of any or all series (and if such covenants or the surrender
of such right or power are to be for the benefit of less than all series of Securities,
stating that such covenants are expressly being included or such surrenders are expressly
being made solely for the benefit of one or more specified series); or




          (3) to cure any ambiguity, to correct or supplement any provision herein which may be
inconsistent with any other provision herein, or to make any other provisions with respect
to matters or questions arising under this Indenture; or




          (4) to add to this Indenture such provisions as may be expressly permitted by the TIA,
excluding, however, the provisions referred to in Section 316(a)(2) of the TIA as in effect
at the date as of which this instrument was executed or any corresponding provision in any
similar federal statute hereafter enacted; or




          (5) to establish any form of Security, as provided in Article II, to provide for the
issuance of any series of Securities as provided in Article III and to set forth the terms
thereof, and/or to add to the rights of the Holders of the Securities of any series; or




          (6) to evidence and provide for the acceptance of appointment by another corporation
as a successor Trustee hereunder with respect to one or more series of Securities and to
add to or change any of the provisions of this Indenture as shall be necessary to provide
for or facilitate the administration of the trusts hereunder by more than one Trustee,
pursuant to Section 6.11; or




          (7) to add any additional Events of Default in respect of the Securities of any or all
series (and if such additional Events of Default are to be in respect of less than all
series of Securities, stating that such Events of Default are expressly being included
solely for the benefit of one or more specified series); or




          (8) to provide for uncertificated Securities in addition to or in place of
certificated Securities and to provide for bearer Securities; provided that uncertificated
Securities are issued in registered form for purposes of Section 163(f) of the Internal
Revenue Code of 1986, as amended, or in a manner such that the uncertificated Securities
are described in Section 163(f)(2)(B) of such Internal Revenue Code; or



53









 






          (9) to provide for the terms and conditions of conversion into Common Stock or other
Marketable Securities of the Securities of any series which are convertible into Common
Stock or other Marketable Securities, if different from those set forth in Article XII; or




          (10) to secure the Securities of any series; or




          (11) to add Guarantees in respect of any series or all of the Securities; or




          (12) to make any other change that does not adversely affect the rights of the Holders
of any or all series of Securities; or




          (13) to make any change necessary to comply with any requirement of the Commission in
connection with the qualification of this Indenture or any supplemental indenture under the
Trust Indenture Act.



          No supplemental indenture for the purposes identified in clauses (2), (3) or (5) above may be
entered into if to do so would adversely affect the rights of the Holders of Outstanding Securities
of any series in any material respect.




          Section 9.02 Supplemental Indentures with Consent of Securityholders. Except as
otherwise set forth in an indenture supplemental hereto or Board Resolution creating such series of
Securities or in the form of security for such Series, with the consent of the Holders of not less
than a majority in principal amount of the Outstanding Securities of all series affected by such
supplemental indenture or indentures (acting as one class), by Act of said Holders delivered to the
Company and the Trustee (in accordance with Section 1.04 hereof), the Company, when authorized by a
Board Resolution, and the Trustee may enter into an indenture or indentures supplemental hereto for
the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of this Indenture or of modifying in any manner the rights of the Holders of the
Securities of each such series under this Indenture; provided, however, that no such supplemental
indenture shall, without the consent of the Holder of each Outstanding Security affected thereby:





          (1) change the Maturity of the principal of, or the Stated Maturity of any premium on,
or any installment of interest on, any Security, or reduce the principal amount thereof or
the interest or any premium thereon, or change the method of computing the amount of
principal thereof or interest thereon on any date or change any Place of Payment where, or
the coin or currency in which, any Security or any premium or interest thereon is payable,
or impair the right to institute suit for the enforcement of any such payment on or after
the Maturity or the Stated Maturity, as the case may be, thereof (or, in the case of
redemption or repayment, on or after the Redemption Date or the Repayment Date, as the case
may be), or alter the provisions of this Indenture so as to affect adversely the terms, if
any, of conversion of any Securities into Common Stock or other securities; or



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




          (3) modify any of the provisions of this Section 9.02, Section 5.13 or Section 10.06,
except to increase any such percentage or to provide that certain other provisions of this
Indenture cannot be modified or waived without the consent of the Holder of each
Outstanding Security affected thereby; or




          (4) impair or adversely affect the right of any Holder to institute suit for the
enforcement of any payment on, or with respect to, the Securities of any series on or after
the Stated Maturity of such Securities (or in the case of redemption, on or after the
Redemption Date); or




          (5) amend or modify Section 13.01 of this Indenture in any manner adverse to the
rights of the Holders of the Outstanding Securities of any series.



          For purposes of this Section 9.02, if the Securities of any series are issuable upon the
exercise of warrants, each holder of an unexercised and unexpired warrant with respect to such
series shall be deemed to be a Holder of Outstanding Securities of such series in the amount
issuable upon the exercise of such warrant. For such purposes, the ownership of any such warrant
shall be determined by the Company in a manner consistent with customary commercial practices. The
Trustee for such series shall be entitled to rely on an Officers’ Certificate as to the principal
amount of Securities of such series in respect of which consents shall have been executed by
holders of such warrants.




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




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




          Section 9.03 Execution of Supplemental Indentures. In executing, or accepting the
additional trusts created by, any supplemental indenture permitted by this Article or the
modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to
receive, and (subject to Section 6.01) shall be fully protected in relying upon, an Opinion of
Counsel stating that the execution of such supplemental





55









 







indenture is authorized or permitted by
this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental
indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or
otherwise.




          Section 9.04 Effect of Supplemental Indentures. Upon the execution of any
supplemental indenture under this Article, this Indenture shall be modified in accordance
therewith, and such supplemental indenture shall form a part of this Indenture for all purposes;
and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder
shall be bound thereby to the extent provided therein.




          Section 9.05 Conformity with Trust Indenture Act. Every supplemental indenture
executed pursuant to this Article shall conform to the requirements of TIA as then in effect.




          Section 9.06 Reference in Securities to Supplemental Indentures. Securities
authenticated and delivered after the execution of any supplemental indenture pursuant to this
Article may, and shall if required by the Trustee, bear a notation in form approved by the Trustee
as to any matter provided for in such supplemental indenture. If the Company shall so determine,
new Securities so modified as to conform, in the opinion of the Trustee and the Board of Directors,
to any such supplemental indenture may be prepared and executed by the Company and authenticated
and delivered by the Trustee in exchange for Outstanding Securities.




ARTICLE X




Covenants



          Section 10.01 Payment of Principal, Premium and Interest. With respect to each series
of Securities, the Company will duly and punctually pay the principal of (and premium, if any) and
interest on such Securities in accordance with their terms and this Indenture, and will duly comply
with all the other terms, agreements and conditions contained in, or made in the Indenture for the
benefit of, the Securities of such series.




          Section 10.02 Maintenance of Office or Agency. The Company will maintain an office or
agency in each Place of Payment where Securities may be presented or surrendered for payment, where
Securities may be surrendered for registration of transfer or exchange, where notices and demands
to or upon the Company in respect of the Securities and this Indenture may be served and where any
Securities with conversion privileges may be presented and surrendered for conversion. The Company
will give prompt written notice to the Trustee of the location, and of any change in the location,
of such office or agency. If at any time the Company shall fail to maintain such 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, and the
Company hereby appoints the Trustee its agent to receive all such presentations, surrenders,
notices and demands.





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          Unless otherwise set forth in, or pursuant to, a Board Resolution or indenture supplemental
hereto with respect to a series of Securities, the Company hereby initially designates as the Place
of Payment for each series of Securities, the Borough of Manhattan, the City and State of New York,
and initially appoints the Trustee at its Corporate Trust Office as the Company’s office or agency
for each such purpose in such city.




          Section 10.03 Money for Security Payments to Be Held in Trust. If the Company shall
at any time act as its own Paying Agent for any series of Securities, it will, on or before each
due date of the principal of (and premium, if any) or interest on, any of the Securities of such
series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum
sufficient to pay the principal (and premium, if any) or interest so becoming due until such sums
shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify
the Trustee of its action or failure to act.




          Whenever the Company shall have one or more Paying Agents for any series of Securities, it
will, on or prior to each due date of the principal of (and premium, if any) or interest on, any
Securities of such series, deposit with a Paying Agent a sum sufficient to pay the principal (and
premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the
Persons entitled to such principal (and premium, if any) or interest, and (unless such Paying Agent
is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act.




          The Company will cause each Paying Agent other than the Trustee for any series of Securities
to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the
Trustee, subject to the provisions of this Section, that such Paying Agent will:





          (1) hold all sums held by it for the payment of principal of (and premium, if any) or
interest on Securities of such series in trust for the benefit of the Persons entitled
thereto until such sums shall be paid to such Persons or otherwise disposed of as herein
provided;




          (2) give the Trustee notice of any default by the Company (or any other obligor upon
the Securities of such series) in the making of any such payment of principal (and premium,
if any) or interest on the Securities of such series; and




          (3) at any time during the continuance of any such default, upon the written request
of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying
Agent.



          The Company may at any time, for the purpose of obtaining the satisfaction and discharge of
this Indenture with respect to any series of Securities or for any other purpose, pay, or by
Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company
or such Paying Agent in respect of each





57









 







and every series of Securities as to which it seeks to
discharge this Indenture or, if for any other purpose, all sums so held in trust by the Company in
respect of all Securities, such sums to be held by the Trustee upon the same trusts as those upon
which such sums were held by the Company or such Paying Agent; and, upon such payment by any Paying
Agent to the Trustee, such Paying Agent shall be released from all further liability with respect
to such money.




          Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in
trust for the payment of the principal of (and premium, if any) or interest on any Security of any
series and remaining unclaimed for two years after such principal (and premium, if any) or interest
has become due and payable shall be paid to the Company on Company Request, or (if then held by the
Company) shall be discharged from such trust; and the Holder of such Security shall thereafter as
an unsecured general creditor, look only to the Company for payment thereof, and all liability of
the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company
as trustee thereof, shall thereupon cease. The Trustee or such Paying Agent, before being required
to make any such repayment, may at the expense of the Company mail to the Holders of the Securities
as to which the money to be repaid was held in trust, as their names and addresses appear in the
Security Register, a notice that such moneys remain unclaimed and that, after a date specified in
the notice, which shall not be less than 30 days from the date on which the notice was first mailed
to the Holders of the Securities as to which the money to be repaid was held in trust, any
unclaimed balance of such moneys then remaining will be paid to the Company free of the trust
formerly impressed upon it.




          Section 10.04 Statement as to Compliance. The Company will deliver to the Trustee,
within 120 days after the end of each fiscal year, a written statement signed by the principal
executive officer, principal financial officer or principal accounting officer of the Company
stating that:





          (1) a review of the activities of the Company during such year and of performance
under this Indenture and under the terms of the Securities has been made under his
supervision; and




          (2) to the best of his knowledge, based on such review, the Company has fulfilled all
its obligations under this Indenture and has complied with all conditions and covenants on
its part contained in this Indenture through such year, or, if there has been a default in
the fulfillment of any such obligation, covenant or condition, specifying each such default
known to him and the nature and status thereof.



          For the purpose of this Section 10.04, default and compliance shall be determined without
regard to any grace period or requirement of notice provided pursuant to the terms of this
Indenture.




          Section 10.05 Legal Existence. Subject to Article VIII, the Company will do or cause
to be done all things necessary to preserve and keep in full force and effect its legal existence.






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          Section 10.06 Waiver of Certain Covenants. The Company may omit in respect of any
series of Securities, in any particular instance, to comply with any covenant or condition set
forth in Section 10.05 or set forth in a Board Resolution or indenture supplemental hereto with
respect to the Securities of such series, unless otherwise specified in such Board Resolution or
indenture supplemental hereto, if before or after the time for such compliance the Holders of not
less than a majority in principal amount of the Outstanding Securities of all series affected by
such waiver (voting as one class) shall, by Act of such Securityholders delivered to the Company
and the Trustee (in accordance with Section 1.04 hereof), either waive such compliance in such
instance or generally waive compliance with such covenant or condition, but no such waiver shall
extend to or affect such covenant or condition except to the extent so expressly waived, and, until
such waiver shall become effective, the obligations of the Company and the duties of the Trustee in
respect of any such covenant or condition shall remain in full force and effect. Nothing in this
Section 10.06 shall permit the waiver of compliance with any covenant or condition set forth in
such Board Resolution or indenture supplemental hereto which, if in the form of an indenture
supplemental hereto, would not be permitted by Section 9.02 without the consent of the Holder of
each Outstanding Security affected thereby.




ARTICLE XI




Redemption of Securities



          Section 11.01 Applicability of Article. The Company may reserve the right to redeem
and pay before Stated Maturity all or any part of the Securities of any series, either by optional
redemption, sinking or purchase fund or analogous obligation or otherwise, by provision therefor in
the form of Security for such series established and approved pursuant to Section 2.02 and on such
terms as are specified in such form or in the Board Resolution or indenture supplemental hereto
with respect to Securities of such series as provided in Section 3.01. Redemption of Securities of
any series shall be made in accordance with the terms of such Securities and, to the extent that
this Article does not conflict with such terms, the succeeding Sections of this Article.
Notwithstanding anything to the contrary in this Indenture, except in the case of redemption
pursuant to a sinking fund, the Trustee shall not make any payment in connection with the
redemption of Securities until the close of business on the Redemption Date.




          Section 11.02 Election to Redeem; Notice to Trustee. The election of the Company to
redeem any Securities redeemable at the election of the Company shall be evidenced by, or pursuant
to authority granted by, a Board Resolution. In case of any redemption at the election of the
Company of less than all of the Securities of any series, the Company shall, at least 45 days prior
to the Redemption Date fixed by the Company (unless a shorter notice shall be reasonably
satisfactory to the Trustee), notify the Trustee of such Redemption Date and of the principal
amount of Securities of such series and the Tranche (as defined in Section 11.03) to be redeemed.




          In the case of any redemption of Securities (i) prior to the expiration of any restriction on
such redemption provided in the terms of such Securities or elsewhere




59









 







in this Indenture, or
(ii) pursuant to an election of the Company which is subject to a condition specified in the terms
of such Securities, the Company shall furnish the Trustee with an Officers’ Certificate evidencing
compliance with such restriction or condition.




          Section 11.03 Selection by Trustee of Securities to Be Redeemed. If less than all the
Securities of like tenor and terms of any series (a “Tranche”) are to be redeemed, the
particular Securities to be redeemed shall be selected not more than 45 days prior to the
Redemption Date by the Trustee, from the Outstanding Securities of such Tranche not previously
called for redemption, by such method as the Trustee shall deem fair and appropriate and which may
include provision for the selection for redemption of portions of the principal of Securities of
such Tranche of a denomination larger than the minimum authorized denomination for Securities of
that series. Unless otherwise provided in the terms of a particular series of Securities, the
portions of the principal of Securities so selected for partial redemption shall be equal to the
minimum authorized denomination of the Securities of such series, or an integral multiple thereof,
and the principal amount which remains outstanding shall not be less than the minimum authorized
denomination for Securities of such series. If less than all the Securities of unlike tenor and
terms of a series are to be redeemed, the particular Tranche of Securities to be redeemed shall be
selected by the Company.




          If any convertible Security selected for partial redemption is converted in part before the
termination of the conversion right with respect to the portion of the Security so selected, the
converted portion of such Security shall be deemed (so far as may be) to be the portion selected
for redemption.




          Upon any redemption of fewer than all the Securities of a series, the Company and the Trustee
may treat as Outstanding any Securities surrendered for conversion during the period of fifteen
days next preceding the mailing of a notice of redemption, and need not treat as Outstanding any
Security authenticated and delivered during such period in exchange for the unconverted portion of
any Security converted in part during such period.




          The Trustee shall promptly notify the Company in writing of the Securities selected for
redemption and, in the case of any Security selected for partial redemption, the principal amount
thereof to be redeemed.




          Securities shall be excluded from eligibility for selection for redemption if they are
identified by registration and certificate number in a written statement signed by an authorized
officer of the Company and delivered to the Trustee at least 45 days prior to the Redemption Date
(unless a shorter period shall be reasonably satisfactory to the Trustee) as being owned of record
and beneficially by, and not pledged or hypothecated by either, (a) the Company or (b) an entity
specifically identified in such written statement as being an Affiliate of the Company.




          For all purposes of this Indenture, unless the context otherwise requires, all provisions
relating to the redemption of Securities shall relate, in the case of any





60









 







Security redeemed or to
be redeemed only in part, to the portion of the principal of such Security which has been or is to
be redeemed.




          Section 11.04 Notice of Redemption. Notice of redemption shall be given by
first-class mail, postage prepaid, mailed not less than 15 (unless otherwise provided in the Board
Resolution or indenture supplemental hereto establishing the relevant series) nor more than 45 days
prior to the Redemption Date, to each holder of Securities to be redeemed, at his address appearing
in the Security Register.




          All notices of redemption shall state:





          (1) the Redemption Date;




          (2) the Redemption Price;




          (3) if less than all Outstanding Securities of any series are to be redeemed, the
identification (and, in the case of partial redemption, the respective principal amounts)
of the Securities to be redeemed;




          (4) that on the Redemption Date the Redemption Price will become due and payable upon
each such Security, and that interest, if any, thereon shall cease to accrue from and after
said date;




          (5) the place where such Securities are to be surrendered for payment of the
Redemption Price, which shall be the office or agency of the Company in the Place of
Payment;




          (6) that the redemption is on account of a sinking or purchase fund, or other
analogous obligation, if that be the case;




          (7) if such Securities are convertible into Common Stock or other securities, the
Conversion Price or other conversion price and the date on which the right to convert such
Securities into Common Stock or other securities will terminate; and




          (8) if applicable, that the redemption may be rescinded by the Company, at its sole
option, pursuant to Section 11.09 of this Indenture upon the occurrence of a Redemption
Rescission Event.



          Notice of redemption of Securities to be redeemed at the election of the Company shall be
given by the Company or, at the Company’s request, by the Trustee in the name and at the expense of
the Company; provided that if the Trustee is asked to give such notice it shall be given at least
five Business Days prior notice.




          Section 11.05 Deposit of Redemption Price. On or prior to any Redemption Date and
subject to Section 11.09, the Company shall deposit with the Trustee or with a Paying Agent (or, if
the Company is acting as its own Paying Agent, segregate and hold in trust as provided in
Section 10.03) an amount of money sufficient





61









 







to pay the Redemption Price of all the Securities
which are to be redeemed on that date. If any Security to be redeemed is converted into Common
Stock or other securities, any money so deposited with the Trustee or a Paying Agent shall be paid
to the Company upon Company Request or, if then so segregated and held in trust by the Company,
shall be discharged from such trust.




          Section 11.06 Securities Payable on Redemption Date. Notice of redemption having been
given as aforesaid, the Securities so to be redeemed shall, subject to Section 11.09, on the
Redemption Date, become due and payable at the Redemption Price therein specified and from and
after such date (unless the Company shall default in the payment of the Redemption Price) such
Securities shall cease to bear interest and any rights to convert such Securities shall terminate.
Upon surrender of such Securities for redemption in accordance with the notice and subject to
Section 11.09, such Securities shall be paid by the Company at the Redemption Price. Unless
otherwise provided with respect to such Securities pursuant to Section 3.01, installments of
interest the Stated Maturity of which is on or prior to the Redemption Date shall be payable to the
Holders of such Securities registered as such on the relevant Regular Record Dates according to
their terms and the provisions of Section 3.07.




          If any Security called for redemption shall not be so paid upon surrender thereof for
redemption, the principal shall, until paid, bear interest from the Redemption Date at the rate
borne by the Security, or as otherwise provided in such Security.




          Section 11.07 Securities Redeemed in Part. Any Security which is to be redeemed only
in part shall be surrendered at the office or agency of the Company in the Place of Payment with
respect to that series (with, if the Company or the Trustee so requires, due endorsement by, or a
written instrument of transfer in form satisfactory to the Company and the Trustee duly executed
by, the Holder thereof or his attorney duly authorized in writing) and the Company shall execute
and the Trustee shall authenticate and deliver to the Holder of such Security without service
charge, a new Security or Securities of the same series and Stated Maturity and of like tenor and
terms, of any authorized denomination as requested by such Holder in aggregate principal amount
equal to and in exchange for the unredeemed portion of the principal of the Security so
surrendered.




          Section 11.08 Provisions with Respect to Any Sinking Funds. Unless the form or terms
of any series of Securities shall provide otherwise, in lieu of making all or any part of any
mandatory sinking fund payment with respect to such series of Securities in cash, the Company may
at its option (1) deliver to the Trustee for cancellation any Securities of such series theretofore
acquired by the Company or converted by the Holder thereof into Common Stock or other securities,
or (2) receive credit for any Securities of such series (not previously so credited) acquired by
the Company (including by way of optional redemption (pursuant to the sinking fund or otherwise but
not by way of mandatory sinking fund redemption) or converted by the Holder thereof into Common
Stock or other securities and theretofore delivered to the Trustee for cancellation, and if it does
so then (i) Securities so delivered or credited shall be credited at the applicable sinking fund
Redemption Price with respect to Securities of





62









 







such series, and (ii) on or before the 60th day next
preceding each sinking fund Redemption Date with respect to such series of Securities, the Company
will deliver to the Trustee (A) an Officers’ Certificate specifying the portions of such sinking
fund payment to be satisfied by payment of cash and by delivery or credit of Securities of such
series acquired by the Company or converted by the Holder thereof, and (B) such Securities, to the
extent not previously surrendered. Such Officers’ Certificate shall also state the basis for such
credit and that the Securities for which the Company elects to receive credit have not been
previously so credited and were not acquired by the Company through operation of the mandatory
sinking fund, if any, provided with respect to such Securities and shall also state that no Event
of Default with respect to Securities of such series has occurred and is continuing. All
Securities so delivered to the Trustee shall be canceled by the Trustee and no Securities shall be
authenticated in lieu thereof.




          If the sinking fund payment or payments (mandatory or optional) with respect to any series of
Securities made in cash plus any unused balance of any preceding sinking fund payments with respect
to Securities of such series made in cash shall exceed $50,000 (or a lesser sum if the Company
shall so request), unless otherwise provided by the terms of such series of Securities, that cash
shall be applied by the Trustee on the sinking fund Redemption Date with respect to Securities of
such series next following the date of such payment to the redemption of Securities of such series
at the applicable sinking fund Redemption Price with respect to Securities of such series, together
with accrued interest, if any, to the date fixed for redemption, with the effect provided in
Section 11.06. The Trustee shall select, in the manner provided in Section 11.03, for redemption
on such sinking fund Redemption Date a sufficient principal amount of Securities of such series to
utilize that cash and shall thereupon cause notice of redemption of the Securities of such series
for the sinking fund to be given in the manner provided in Section 11.04 (and with the effect
provided in Section 11.06) for the redemption of Securities in part at the option of the Company.
Any sinking fund moneys not so applied or allocated by the Trustee to the redemption of Securities
of such series shall be added to the next cash sinking fund payment with respect to Securities of
such series received by the Trustee and, together with such payment, shall be applied in accordance
with the provisions of this Section 11.08. Any and all sinking fund moneys with respect to
Securities of any series held by the Trustee at the Maturity of Securities of such series, and not
held for the payment or redemption of particular Securities of such series, shall be applied by the
Trustee, together with other moneys, if necessary, to be deposited sufficient for the purpose, to
the payment of the principal of the Securities of such series at Maturity.




          On or before each sinking fund Redemption Date provided with respect to Securities of any
series, the Company shall pay to the Trustee in cash a sum equal to all accrued interest, if any,
to the date fixed for redemption on Securities to be redeemed on such sinking fund Redemption Date
pursuant to this Section 11.08.




          Section 11.09 Rescission of Redemption. In the event that this Section 11.09 is
specified to be applicable to a series of Securities pursuant to Section 3.01 and a Redemption
Rescission Event shall occur following any day on which





63









 







a notice of redemption shall have been
given pursuant to Section 11.04 hereof but at or prior to the time and date fixed for redemption as
set forth in such notice of redemption, the Company may, at its sole option, at any time prior to
the earlier of (i) the close of business on that day which is two Trading Days following such
Redemption Rescission Event and (ii) the time and date fixed for redemption as set forth in such
notice, rescind the redemption to which such notice of redemption shall have related by making a
public announcement of such rescission (the date on which such public announcement shall have been
made being hereinafter referred to as the “Rescission Date”). The Company shall be deemed
to have made such announcement if it shall issue a release to the Dow Jones New Service, Reuters
Information Services or any successor news wire service. From and after the making of such
announcement, the Company shall have no obligation to redeem Securities called for redemption
pursuant to such notice of redemption or to pay the Redemption Price therefor and all rights of
Holders of Securities shall be restored as if such notice of redemption had not been given. As
promptly as practicable following the making of such announcement, the Company shall telephonically
notify the Trustee and the Paying Agent of such rescission. The Company shall give notice of any
such rescission by first-class mail, postage prepaid, mailed as promptly as practicable but in no
event later than the close of business on that day which is five Trading Days following the
Rescission Date to each Holder of Securities at the close of business on the Rescission Date, to
any other Person that was a Holder of Securities and that shall have surrendered Securities for
conversion following the giving of notice of the subsequently rescinded redemption and to the
Trustee and the Paying Agent. Each notice of rescission shall (w) state that the redemption
described in the notice of redemption has been rescinded, (x) state that any Converting Holder
shall be entitled to rescind the conversion of Securities surrendered for conversion following the
day on which notice of redemption was given but on or prior to the date of the mailing of the
Company’s notice of rescission, (y) be accompanied by a form prescribed by the Company to be used
by any Converting Holder rescinding the conversion of Securities so surrendered for conversion (and
instructions for the completion and delivery of such form, including instructions with respect to
any payment that may be required to accompany such delivery) and (z) state that such form must be
properly completed and received by the Company no later than the close of business on a date that
shall be 15 Trading Days following the date of the mailing of such notice of rescission.




ARTICLE XII




Conversion



          Section 12.01 Conversion Privilege. In the event that this Article XII is specified
to be applicable to a series of Securities pursuant to Section 3.01, the Holder of a Security of
such series shall have the right, at such Holder’s option, to convert, in accordance with the terms
of such series of Securities and this Article XII, all or any part (in a denomination of, unless
otherwise specified in a Board Resolution or indenture supplemental hereto with respect to
Securities of such series, $1,000 in principal amount or any integral multiple thereof) of such
Security into shares of Common Stock or other Marketable Securities specified in such Board
Resolution or any indenture supplement hereto at any time or, as to any Securities called for
redemption, at any time prior to the






64









 







time and date fixed for such redemption (unless the Company
shall default in the payment of the Redemption Price, in which case such right shall not terminate
at such time and date).




          Section 12.02 Conversion Procedure; Rescission of Conversion; Conversion Price; Fractional
Shares. (a) Each Security to which this Article is applicable shall be convertible at the
office of the Conversion Agent, and at such other place or places, if any, specified in a Board
Resolution with respect to the Securities of such series, into fully paid and nonassessable shares
(calculated to the nearest 1/100th of a share) of Common Stock or other Marketable Securities. The
Securities will be converted into shares of Common Stock or such other Marketable Securities at the
Conversion Price therefor. No payment or adjustment shall be made in respect of dividends on the
Common Stock or such other Marketable Securities, or accrued interest on a converted Security
except as described in Section 12.09. The Company may, but shall not be required, in connection
with any conversion of Securities, to issue a fraction of a share of Common Stock or of such other
Marketable Security, and, if the Company shall determine not to issue any such fraction, the
Company shall, subject to Section 12.03(4), make a cash payment (calculated to the nearest cent)
equal to such fraction multiplied by the Closing Price of the Common Stock or such other Marketable
Security on the last Trading Day prior to the date of conversion.




          (b) Before any Holder of a Security shall be entitled to convert the same into Common Stock or
other Marketable Securities, such Holder shall surrender such Security duly endorsed to the Company
or in blank, at the office of the Conversion Agent or at such other place or places, if any,
specified in a Board Resolution or indenture supplemental hereto with respect to the Securities of
such series, and shall give written notice to the Company at said office or place that he elects to
convert the same and shall state in writing therein the principal amount of Securities to be
converted and the name or names (with addresses) in which he wishes the certificate or certificates
for Common Stock or for such other Marketable Securities to be issued; provided, however, that no
Security or portion thereof shall be accepted for conversion unless the principal amount of such
Security or such portion, when added to the principal amount of all other Securities or portions
thereof then being surrendered by the Holder thereof for conversion, exceeds the then effective
Conversion Price with respect thereto. If more than one Security shall be surrendered for
conversion at one time by the same Holder, the number of full shares of Common Stock or such other
Marketable Securities which shall be deliverable upon conversion shall be computed on the basis of
the aggregate principal amount of the Securities (or specified portions thereof to the extent
permitted thereby) so surrendered. Subject to the next succeeding sentence, the Company will, as
soon as practicable thereafter, issue and deliver at said office or place to such Holder of a
Security, or to his nominee or nominees, certificates for the number of full shares of Common Stock
or other Marketable Security to which he shall be entitled as aforesaid, together, subject to the
last sentence of paragraph (a) above, with cash in lieu of any fraction of a share to which he
would otherwise be entitled. The Company shall not be required to deliver certificates for shares
of Common Stock or other Marketable Securities while the stock transfer books for such stock or the
transfer books for such Marketable Securities, as the case may be, or the Security Register are
duly closed for




65









 







any purpose, but certificates for shares of Common Stock or other Marketable
Securities shall be issued and delivered as soon as practicable after the opening of such books or
Security Register. A Security shall be deemed to have been converted as of the close of business
on the date of the surrender of such Security for conversion as provided above, and the person or
persons entitled to receive the Common Stock or other Marketable Securities issuable upon such
conversion shall be treated for all purposes as the record Holder or Holders of such Common Stock
or other Marketable Securities as of the close of business on such date. In case any Security
shall be surrendered for partial conversion, the Company shall execute and the Trustee shall
authenticate and deliver to or upon the written order of the Holder of the Securities so
surrendered, without charge to such Holder (subject to the provisions of Section 12.08), a new
Security or Securities in authorized denominations in an aggregate principal amount equal to the
unconverted portion of the surrendered Security.




          (c) Notwithstanding anything to the contrary contained herein, in the event the Company shall
have rescinded a redemption of Securities pursuant to Section 11.09 hereof, any Holder of
Securities that shall have surrendered Securities for conversion following the day on which notice
of the subsequently rescinded redemption shall have been given but prior to the later of (a) the
close of business on the Trading Day next succeeding the date on which public announcement of the
rescission of such redemption shall have been made and (b) the date of the mailing of the notice of
rescission required by Section 11.09 hereof (a “Converting Holder”) may rescind the
conversion of such Securities surrendered for conversion by (i) properly completing a form
prescribed by the Company and mailed to Holders of Securities (including Converting Holders) with
the Company’s notice of rescission, which form shall provide for the certification by any
Converting Holder rescinding a conversion on behalf of any beneficial owner (within the meaning of
Rule 13d-3 under the Securities Exchange Act of 1934) of Securities that the beneficial ownership
(within the meaning of such Rule) of such Securities shall not have changed from the date on which
such Securities were surrendered for conversion to the date of such certification and
(ii) delivering such form to the Company no later than the close of business on that date which is
fifteen Trading Days following the date of the mailing of the Company’s notice of rescission. The
delivery of such form by a Converting Holder shall be accompanied by (x) any certificates
representing shares of Common Stock or other securities issued to such Converting Holder upon a
conversion of Securities that shall be rescinded by the proper delivery of such form (the
“Surrendered Securities”), (y) any securities, evidences of indebtedness or assets (other
than cash) distributed by the Company to such Converting Holder by reason of such Converting Holder
being a record holder of Surrendered Securities and (z) payment in New York Clearing House funds or
other funds acceptable to the Company of an amount equal to the sum of (I) any cash such Converting
Holder may have received in lieu of the issuance of fractional Surrendered Securities and (II) any
cash paid or payable by the Company to such Converting Holder by reason of such Converting Holder
being a record holder of Surrendered Securities. Upon receipt by the Company of any such form
properly completed by a Converting Holder and any certificates, securities, evidences of
indebtedness, assets or cash payments required to be returned by such Converting Holder to the
Company as set forth above, the Company shall instruct the transfer agent or agents for shares of
Common Stock or other securities




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to cancel any certificates representing Surrendered Securities
(which Surrendered Securities shall be deposited in the treasury of the Company) and shall instruct
the Registrar to reissue certificates representing Securities to such Converting Holder (which
Securities shall be deemed to have been outstanding at all times during the period following their
surrender for conversion). The Company shall, as promptly as practicable, and in no event more
than five Trading Days following the receipt of any such properly completed form and any such
certificates, securities, evidences of indebtedness, assets or cash payments required to be so
returned, pay to the Holder of Securities surrendered to the Company pursuant to a rescinded
conversion or as otherwise directed by such Holder any interest paid or other payment made to
Holders of Securities during the period from the time such Securities shall have been surrendered
for conversion to the rescission of such conversion. All questions as to the validity, form,
eligibility (including time of receipt) and acceptance of any form submitted to the Company to
rescind the conversion of Securities, including questions as to the proper completion or execution
of any such form or any certification contained therein, shall be resolved by the Company, whose
determination shall be final and binding.




          Section 12.03 Adjustment of Conversion Price for Common Stock or Marketable
Securities. The Conversion Price with respect to any Security which is convertible into Common
Stock or other Marketable Securities shall be adjusted from time to time as follows:





          (1) In case the Company shall, at any time or from time to time while any of such
Securities are outstanding, (i) pay a dividend in shares of its Common Stock or other
Marketable Securities, (ii) combine its outstanding shares of Common Stock or other
Marketable Securities into a smaller number of shares or securities, (iii) subdivide its
outstanding shares of Common Stock or other Marketable Securities or (iv) issue by
reclassification of its shares of Common Stock or other Marketable Securities any shares of
stock or other Marketable Securities of the Company, then the Conversion Price in effect
immediately before such action shall be adjusted so that the Holders of such Securities,
upon conversion thereof into Common Stock or other Marketable Securities immediately
following such event, shall be entitled to receive the kind and amount of shares of capital
stock of the Company or other Marketable Securities which they would have owned or been
entitled to receive upon or by reason of such event if such Securities had been converted
immediately before the record date (or, if no record date, the effective date) for such
event. An adjustment made pursuant to this Section 12.03(1) shall become effective
retroactively immediately after the record date in the case of a dividend or distribution
and shall become effective retroactively immediately after the effective date in the case
of a subdivision, combination or reclassification. For the purposes of this
Section 12.03(1), each Holder of Securities shall be deemed to have failed to exercise any
right to elect the kind or amount of securities receivable upon the payment of any such
dividend, subdivision, combination or reclassification (provided that if the kind or amount
of securities receivable upon



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such dividend, subdivision, combination or reclassification
is not the same for each nonelecting share, then the kind and amount of securities or other
property receivable upon such dividend, subdivision, combination or reclassification for
each nonelecting share shall be deemed to be the kind and amount so receivable per share by
a plurality of the nonelecting shares).




          (2) In case the Company shall, at any time or from time to time while any of such
Securities are outstanding, issue rights or warrants to all holders of shares of its Common
Stock or other Marketable Securities entitling them (for a period expiring within 45 days
after the record date for such issuance) to subscribe for or purchase shares of Common
Stock or other Marketable Securities (or securities convertible into shares of Common Stock
or other Marketable Securities) at a price per share less than the Current Market Price of
the Common Stock or other Marketable Securities at such record date (treating the price per
share of the securities convertible into Common Stock or other Marketable Securities as
equal to (x) the sum of (i) the price for a unit of the security convertible into Common
Stock or other Marketable Securities plus (ii) any additional consideration initially
payable upon the conversion of such security into Common Stock or other Marketable
Securities divided by (y) the number of shares of Common Stock or other Marketable
Securities initially underlying such convertible security), the Conversion Price with
respect to such Securities shall be adjusted so that it shall equal the price determined by
dividing the Conversion Price in effect immediately prior to the date of issuance of such
rights or warrants by a fraction, the numerator of which shall be the number of shares of
Common Stock or other Marketable Securities outstanding on the date of issuance of such
rights or warrants plus the number of additional shares of Common Stock or other Marketable
Securities offered for subscription or purchase (or into which the convertible securities
so offered are initially convertible), and the denominator of which shall be the number of
            shares of Common Stock or other Marketable Securities outstanding on the date of issuance
of such rights or warrants plus the number of shares or securities which the aggregate
offering price of the total number of shares or securities so offered for subscription or
purchase (or the aggregate purchase price of the convertible securities so offered plus the
aggregate amount of any additional consideration initially payable upon conversion of such
Securities into Common Stock or other Marketable Securities) would purchase at such Current
Market Price of the Common Stock or other Marketable Securities. Such adjustment shall
become effective retroactively immediately after the record date for the determination of
stockholders entitled to receive such rights or warrants.




          (3) In case the Company shall, at any time or from time to time while any of such
Securities are outstanding, distribute to all holders of shares of its Common Stock or
other Marketable Securities (including any such distribution made in connection with a
consolidation or merger in which the Company is the continuing corporation and the Common
Stock or other Marketable Securities are not changed or exchanged) cash, evidences of its
indebtedness, securities or assets (excluding (i) regular periodic cash dividends in
amounts, if any, determined from time to time by the Board of Directors, (ii) in dividends
payable in shares of Common Stock or other Marketable Securities for which adjustment is
made



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under Section 12.03(1) or (iii) rights or warrants to subscribe for or purchase
securities of the Company (excluding those referred to in Section 12.03(2)), then in each
such case the Conversion Price with respect to such Securities shall be adjusted so that it
shall equal the price determined by dividing the Conversion Price in effect immediately
prior to the date of such distribution by a fraction, the numerator of which shall be the
Current Market Price of the Common Stock or other Marketable Securities on the record date
referred to below, and the denominator of which shall be such Current Market Price of the
Common Stock or other Marketable Securities less the then fair market value (as determined
by the Board of Directors of the Company, whose determination shall be conclusive) of the
portion of the cash or assets or evidences of indebtedness or securities so distributed or
of such subscription rights or warrants applicable to one share of Common Stock or one
other Marketable Security (provided that such denominator shall never be less than 1.0);
provided, however, that no adjustment shall be made with respect to any distribution of
rights to purchase securities of the Company if a Holder of Securities would otherwise be
entitled to receive such rights upon conversion at any time of such Securities into Common
Stock or other Marketable Securities unless such rights are subsequently redeemed by the
Company, in which case such redemption shall be treated for purposes of this Section as a
dividend on the Common Stock or other Marketable Securities. Such adjustment shall become
effective retroactively immediately after the record date for the determination of
stockholders or holders of Marketable Securities entitled to receive such distribution; and
in the event that such distribution is not so made, the Conversion Price shall again be
adjusted to the Conversion Price which would then be in effect if such record date had not
been fixed.




          (4) The Company shall be entitled to make such additional adjustments in the
Conversion Price, in addition to those required by subsections 12.03(1), 12.03(2) and
12.03(3), as shall be necessary in order that any dividend or distribution of Common Stock
or other Marketable Securities, any subdivision, reclassification or combination of shares
of Common Stock or other Marketable Securities or any issuance of rights or warrants
referred to above shall not be taxable to the holders of Common Stock or other Marketable
Securities for United States Federal income tax purposes.




          (5) In any case in which this Section 12.03 shall require that any adjustment be made
effective as of or retroactively immediately following a record date, the Company may elect
to defer (but only for five Trading Days following the filing of the statement referred to
in Section 12.05) issuing to the Holder of any Securities converted after such record date
the shares of Common Stock and other capital stock of the Company or other Marketable
Securities issuable upon such conversion over and above the shares of Common Stock and
other capital stock of the Company or other Marketable Securities issuable upon such
conversion on the basis of the Conversion Price prior to adjustment; provided, however,
that the Company shall deliver to such Holder a due bill or other appropriate instrument
evidencing such Holder’s right to receive such additional shares upon the occurrence of the
event requiring such adjustment.



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          (6) All calculations under this Section 12.03 shall be made to the nearest cent or
one-hundredth of a share or security, with one-half cent and .005 of a share, respectively,
being rounded upward. Notwithstanding any other provision of this Section 12.03, the
Company shall not be required to make any adjustment of the Conversion Price unless such
adjustment would require an increase or decrease of at least 1% of such price. Any lesser
adjustment shall be carried forward and shall be made at the time of and together with the
next subsequent adjustment which, together with any adjustment or adjustments so carried
forward, shall amount to an increase or decrease of at least 1% in such price. Any
adjustments under this Section 12.03 shall be made successively whenever an event requiring
such an adjustment occurs.




          (7) In the event that at any time, as a result of an adjustment made pursuant to this
Section 12.03, the Holder of any Security thereafter surrendered for conversion shall
become entitled to receive any shares of stock of or other Marketable Securities of the
Company other than shares of Common Stock or Marketable Securities into which the
Securities originally were convertible, the Conversion Price of such other shares or
Marketable Securities so receivable upon conversion of any such Security shall be subject
to adjustment from time to time in a manner and on terms as nearly equivalent as
practicable to the provisions with respect to Common Stock and Marketable Securities
contained in subparagraphs (1) through (6) of this Section 12.03, and the provision of
Sections 12.01, 12.02 and 12.04 through 12.09 with respect to the Common Stock or other
Marketable Securities shall apply on like or similar terms to any such other shares or
Marketable Securities and the determination of the Board of Directors as to any such
adjustment shall be conclusive.




          (8) No adjustment shall be made pursuant to this Section (i) if the effect thereof
would be to reduce the Conversion Price below the par value (if any) of the Common Stock or
other Marketable Security, if any, or (ii) subject to Section 12.03(5) hereof, with respect
to any Security that is converted prior to the time such adjustment otherwise would be
made.



          Section 12.04 Consolidation or Merger of the Company. In case of either (a) any
consolidation or merger to which the Company is a party, other than a merger or consolidation in
which the Company is the surviving or continuing corporation and which does not result in a
reclassification of, or change (other than a change in par value or from par value to no par value
or from no par value to par value, as a result of a subdivision or combination) in, outstanding
shares of Common Stock or other Marketable Securities or (b) any sale or conveyance of all or
substantially all of the property and assets of the Company to another Person, then each Security
then Outstanding shall be convertible from and after such merger, consolidation, sale or conveyance
of property and assets into the kind and amount of shares of stock or other securities and property
(including cash) receivable upon such consolidation, merger, sale or conveyance by a holder of the
number of shares of Common Stock or other Marketable Securities into which such Securities would
have been converted immediately prior to such consolidation, merger, sale or conveyance, subject to
adjustments which shall be as




70









 







nearly equivalent as may be practicable to the adjustments provided
for in this Article XII (and assuming such holder of Common Stock or other Marketable Securities
failed to exercise his rights of election, if any, as to the kind or amount of securities, cash or
other property (including cash) receivable upon such consolidation, merger, sale or conveyance
(provided that, if the kind or amount of securities, cash or other property (including cash)
receivable upon such consolidation, merger, sale or conveyance is not the same for each nonelecting
share, then the kind and amount of securities, cash or other property (including cash) receivable
upon such consolidation, merger, sale or conveyance for each nonelecting share, shall be deemed to
be the kind and amount so receivable per share by a plurality of the nonelecting shares or
securities)). The Company shall not enter into any of the transactions referred to in clause
(a) or (b) of the preceding sentence unless effective provision shall be made so as to give effect
to the provisions set forth in this Section 12.04. The provisions of this Section 12.04 shall
apply similarly to successive consolidations, mergers, sales or conveyances.




          Section 12.05 Notice of Adjustment. Whenever an adjustment in the Conversion Price
with respect to a series of Securities is required:





          (1) the Company shall forthwith place on file with the Trustee and any Conversion
Agent for such Securities a certificate of the Treasurer of the Company, stating the
adjusted Conversion Price determined as provided herein and setting forth in reasonable
detail such facts as shall be necessary to show the reason for and the manner of computing
such adjustment, such certificate to be conclusive evidence that the adjustment is correct;
and




          (2) a notice stating that the Conversion Price has been adjusted and setting forth the
adjusted Conversion Price shall forthwith be mailed, first class postage prepaid, by the
Company to the Holders of record of such Outstanding Securities.



          Section 12.06 Notice in Certain Events. In case:





          (1) of a consolidation or merger to which the Company is a party and for which
approval of any stockholders of the Company is required, or of the sale or conveyance to
another person or entity or group of persons or entities acting in concert as a
partnership, limited partnership, syndicate or other group (within the meaning of Rule
13d-3 under the Securities Exchange Act of 1934) of all or substantially all of the
property and assets of the Company; or




          (2) of the voluntary or involuntary dissolution, liquidation or winding up of the
Company; or




          (3) of any action triggering an adjustment of the Conversion Price pursuant to this
Article XII;


then, in each case, the Company shall cause to be filed with the Trustee and the Agent for the
applicable Securities, and shall cause to be mailed, first class postage prepaid, to the Holders of
record of applicable Securities, at least fifteen (15) days prior to the applicable






71









 







date
hereinafter specified, a notice stating (x) the date on which a record is to be taken for the
purpose of any distribution or grant of rights or warrants triggering an adjustment to the
Conversion Price pursuant to this Article XII, or, if a record is not to be taken, the date as of
which the holders of record of Common Stock or other Marketable Securities entitled to such
distribution, rights or warrants are to be determined, or (y) the date on which any
reclassification, consolidation, merger, sale, conveyance, dissolution, liquidation or winding up
triggering an adjustment to the Conversion Price pursuant to this Article XII is expected to become
effective, and the date as of which it is expected that holders of Common Stock or other Marketable
Securities of record shall be entitled to exchange their Common Stock or other Marketable
Securities for securities or other property deliverable upon such reclassification, consolidation,
merger, sale, conveyance, dissolution, liquidation or winding up.




          Failure to give such notice or any defect therein shall not affect the legality or validity of
the proceedings described in clause (1), (2) or (3) of this Section.




          Section 12.07 Company to Reserve Stock or other Marketable Securities; Registration;
Listing. (a) The Company shall at all times reserve and keep available, free from preemptive
rights, out of its authorized but unissued shares of Common Stock or other Marketable Securities,
for the purpose of effecting the conversion of the Securities, such number of its duly authorized
shares of Common Stock or number or principal amount of other Marketable Securities as shall from
time to time be sufficient to effect the conversion of all applicable outstanding Securities into
such Common Stock or other Marketable Securities at any time (assuming that, at the time of the
computation of such number of shares or securities, all such Securities would be held by a single
Holder); provided, however, that nothing contained herein shall preclude the Company from
satisfying its obligations in respect of the conversion of the Securities by delivery of purchased
shares of Common Stock or other Marketable Securities which are held in the treasury of the
Company. The Company shall from time to time, in accordance with the laws of the State of
Delaware, use its commercially reasonable efforts to cause the authorized amount of the Common
Stock or other Marketable Securities to be increased if the aggregate of the authorized amount of
the Common Stock or other Marketable Securities remaining unissued and the issued shares of such
Common Stock or other Marketable Securities in its treasury (other than any such shares reserved
for issuance in any other connection) shall not be sufficient to permit the conversion of all
Securities.




          (b) If any shares of Common Stock or other Marketable Securities which would be issuable upon
conversion of Securities hereunder require registration with or approval of any governmental
authority before such shares or securities may be issued upon such conversion, the Company will in
good faith and as expeditiously as possible endeavor to cause such shares or securities to be duly
registered or approved, as the case may be. The Company will endeavor to list the shares of Common
Stock or other Marketable Securities required to be delivered upon conversion of the Securities
prior to such delivery upon the principal national securities exchange upon which the outstanding
Common Stock or other Marketable Securities is listed at the time of such delivery.





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          Section 12.08 Taxes on Conversion. The Company shall pay any and all documentary,
stamp or similar issue or transfer taxes that may be payable in respect of the issue or delivery of
shares of Common Stock or other Marketable Securities on conversion of Securities pursuant hereto.
The Company shall not, however, be required to pay any such tax which may be payable in respect of
any transfer involved in the issue or delivery of shares of Common Stock or other Marketable
Securities or the portion, if any, of the Securities which are not so converted in a name other
than that in which the Securities so converted were registered, and no such issue or delivery shall
be made unless and until the person requesting such issue has paid to the Company the amount of
such tax or has established to the satisfaction of the Company that such tax has been paid.




          Section 12.09 Conversion After Record Date. If any Securities are surrendered for
conversion subsequent to the record date preceding an Interest Payment Date but on or prior to such
Interest Payment Date (except Securities called for redemption on a Redemption Date between such
record date and Interest Payment Date), the Holder of such Securities at the close of business on
such record date shall be entitled to receive the interest payable on such securities on such
Interest Payment Date notwithstanding the conversion thereof. Securities surrendered for
conversion during the period from the close of business on any record date next preceding any
Interest Payment Date to the opening of business on such Interest Payment Date shall (except in the
case of Securities which have been called for redemption on a Redemption Date within such period)
be accompanied by payment in New York Clearing House funds or other funds acceptable to the Company
of an amount equal to the interest payable on such Interest Payment Date on the Securities being
surrendered for conversion. Except as provided in this Section 12.09, no adjustments in respect of
payments of interest on Securities surrendered for conversion or any dividends or distributions or
interest on the Common Stock or other Marketable Securities issued upon conversion shall be made
upon the conversion of any Securities.




          Section 12.10 Corporate Action Regarding Par Value of Common Stock. Before taking any
action which would cause an adjustment reducing the applicable Conversion Price below the then par
value (if any) of the shares of Common Stock or other Marketable Securities deliverable upon
conversion of the Securities, the Company will take any corporate action which may, in the opinion
of its counsel, be necessary in order that the Company may validly and legally issue fully paid and
nonassessable shares of Common Stock or other Marketable Securities at such adjusted Conversion
Price.




          Section 12.11 Company Determination Final. Any determination that the Company or the
Board of Directors must make pursuant to this Article is conclusive.




          Section 12.12 Trustee’s Disclaimer. The Trustee has no duty to determine when an
adjustment under this Article should be made, how it should be made or what it should be. The
Trustee makes no representation as to the validity or value of any securities or assets issued upon
conversion of Securities. The Trustee shall not be responsible for the Company’s failure to comply
with this Article. Each Conversion




73









 







Agent other than the Company shall have the same protection
under this Section as the Trustee.




ARTICLE XIII




Guarantees



          Section 13.01 Guarantees. (a) Any series of Securities may be guaranteed by
one or more of the Subsidiaries of the Company or other Persons. The terms and the form of any
such Guarantee will be established in the manner contemplated by Section 3.01 for the particular
series of Securities. Each Guarantor, as primary obligor and not merely as surety, will fully,
irrevocably and unconditionally guarantee, to each Holder of Securities (including each Holder of
Securities issued under the Indenture after the date of this Indenture) and to the Trustee and its
successors and assigns (i) the full and punctual payment of principal of and interest on the
Securities when due, whether at maturity, by acceleration, by redemption or otherwise, and all
other monetary obligations of the Company under this Indenture (including obligations to the
Trustee) and the Securities and (ii) the full and punctual performance within applicable grace
periods of all other obligations of the Company under this Indenture and the Securities.




          (b) Each of the Guarantors further agrees that its obligations hereunder shall be
unconditional irrespective of the absence or existence of any action to enforce the same, the
recovery of any judgment against the Company or any other Guarantor (except to the extent such
judgment is paid) or any waiver or amendment of the provisions of this Indenture or the Securities
to the extent that any such action or any similar action would otherwise constitute a legal or
equitable discharge or defense of a guarantor (except that each such waiver or amendment shall be
effective in accordance with its terms).




          (c) Each of the Guarantors further agrees that each Guarantee constitutes a guarantee of
payment, performance and compliance and not merely of collection.




          (d) Each of the Guarantors further agrees to waive presentment to, demand of payment from and
protest to the Company or any other Person, and also waives diligence, notice of acceptance of its
Guarantee, presentment, demand for payment, notice of protest for nonpayment, the filing of claims
with a court in the event of merger or bankruptcy of the Company or any other Person and any right
to require a proceeding first against the Company or any other Person. The obligations of the
Guarantors shall not be affected by any failure or policy on the part of the Trustee to exercise
any right or remedy under this Indenture or the Securities of any series.




          (e) The obligation of each Guarantor to make any payment hereunder may be satisfied by causing
the Company or any other Person to make such payment. If any Holder of any Security or the Trustee
is required by any court or otherwise to return to the Company or any Guarantor, or any custodian,
trustee, liquidator or other similar official acting in relation to any of the Company or any
Guarantor, any amount paid by





74









 







any of them to the Trustee or such Holder, the Guarantee of such
Guarantor, to the extent theretofore discharged, shall be reinstated in full force and effect.




          (f) Each Guarantor also agrees to pay any and all reasonable costs and expenses (including
reasonable attorneys’ fees) incurred by the Trustee or any Holder of Securities in enforcing any of
their respective rights under its Guarantees.




          (g) Any term or provision of this Indenture to the contrary notwithstanding, the maximum
aggregate amount of each of the Guarantees shall not exceed the maximum amount that can be
guaranteed by the relevant Guarantor without rendering the relevant Guarantee under this Indenture
voidable under applicable law relating to fraudulent conveyance or fraudulent transfer or similar
laws affecting the rights of creditors generally.





75









 








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




	 	 	 	 	 
	 	GREAT WOLF RESORTS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	U.S. BANK NATIONAL ASSOCIATION,

as Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title: