EX-4.5



 




Exhibit 4.5


EXECUTION COPY



FERRO CORPORATION




and




U.S. BANK NATIONAL ASSOCIATION




Trustee

 






INDENTURE




Dated as of March 5, 2008





 









 








FERRO CORPORATION

Certain Sections of this Indenture relating to

Sections 310 through 318, inclusive, of the

Trust Indenture Act of 1939:




	 	 	 	 	 
	Trust Indenture Act Section	 	Indenture Section
	Section 310

	 	(a)(1)
	 	609
	 

	 	(a)(2)
	 	609
	 

	 	(a)(3)
	 	Not Applicable
	 

	 	(a)(4)
	 	Not Applicable
	 

	 	(a)(5)
	 	609
	 

	 	(b)
	 	608; 610
	 
	 	 	 	 
	Section 311

	 	(a)
	 	613
	 

	 	(b)
	 	613
	 
	 	 	 	 
	Section 312

	 	(a)
	 	701; 702(a)
	 

	 	(b)
	 	702(b)
	 

	 	(c)
	 	702(c)
	 
	 	 	 	 
	Section 313

	 	(a)
	 	703(a)
	 

	 	(b)
	 	703(b)
	 

	 	(c)
	 	703(a); 703(b)
	 

	 	(d)
	 	703(c)
	 
	 	 	 	 
	Section 314

	 	(a)
	 	704
	 

	 	(a)(4)
	 	1004
	 

	 	(b)
	 	Not Applicable
	 

	 	(c)(1)
	 	102
	 

	 	(c)(2)
	 	102
	 

	 	(c)(3)
	 	Not Applicable
	 

	 	(d)
	 	Not Applicable
	 

	 	(e)
	 	102
	 
	 	 	 	 
	Section 315

	 	(a)
	 	601
	 

	 	(b)
	 	602
	 

	 	(c)
	 	601
	 

	 	(d)
	 	601
	 

	 	(e)
	 	514
	 
	 	 	 	 
	Section 316

	 	(a)
	 	101
	 

	 	(a)(1)(A)
	 	502; 512
	 

	 	(a)(1)(B)
	 	513
	 

	 	(a)(2)
	 	Not Applicable






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	Trust Indenture Act Section	 	Indenture Section
	 

	 	(b)
	 	508
	 

	 	(c)
	 	104(c); 513
	 
	 	 	 	 
	Section 317

	 	(a)(1)
	 	503
	 

	 	(a)(2)
	 	504
	 

	 	(b)
	 	1003
	 
	 	 	 	 
	Section 318

	 	(a)
	 	107








 




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




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TABLE OF CONTENTS




	 	 	 	 	 
	 	 	Page
	ARTICLE ONE   DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	 	 	1	 
	Section 101. DEFINITIONS
	 	 	1	 
	Act
	 	 	2	 
	Affiliate
	 	 	2	 
	Authenticating Agent
	 	 	2	 
	Authorized Newspaper
	 	 	2	 
	Board of Directors
	 	 	2	 
	Board Resolution
	 	 	2	 
	Business Day
	 	 	2	 
	Capital Stock
	 	 	2	 
	Commission
	 	 	2	 
	Common Stock
	 	 	3	 
	Company
	 	 	3	 
	Company Request
	 	 	3	 
	Corporate Trust Office
	 	 	3	 
	corporation
	 	 	3	 
	Debt
	 	 	3	 
	Defaulted Interest
	 	 	3	 
	Depositary
	 	 	3	 
	Event of Default
	 	 	3	 
	Funded Debt
	 	 	3	 
	Global Security
	 	 	3	 
	Guarantee
	 	 	3	 
	Holder
	 	 	4	 
	Indenture
	 	 	4	 
	interest 
	 	 	4	 
	Interest Payment Date
	 	 	4	 
	Maturity
	 	 	4	 
	Mortgage
	 	 	4	 
	Officers’ Certificate
	 	 	4	 






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TABLE OF CONTENTS

(continued)





	 	 	 	 	 
	 	 	Page
	Opinion of Counsel
	 	 	4	 
	Original Issue Discount Security
	 	 	4	 
	Outstanding
	 	 	4	 
	Paying Agent
	 	 	5	 
	Person
	 	 	6	 
	Place of Payment
	 	 	6	 
	Predecessor Security
	 	 	6	 
	Redemption Date
	 	 	6	 
	Redemption Price
	 	 	6	 
	Regular Record Date
	 	 	6	 
	Securities
	 	 	6	 
	Security Register
	 	 	6	 
	Special Record Date
	 	 	6	 
	Stated Maturity
	 	 	6	 
	Subsidiary
	 	 	6	 
	Trustee 
	 	 	6	 
	Trust Indenture Act
	 	 	7	 
	Vice President
	 	 	7	 
	Yield to Maturity
	 	 	7	 
	Section 102. COMPLIANCE CERTIFICATES AND OPINIONS
	 	 	7	 
	Section 103. FORM OF DOCUMENTS DELIVERED TO TRUSTEE
	 	 	7	 
	Section 104. ACTS OF HOLDERS; RECORD DATES
	 	 	8	 
	Section 105. NOTICES, ETC., TO TRUSTEE AND COMPANY
	 	 	10	 
	Section 106. NOTICE TO HOLDERS; WAIVER
	 	 	10	 
	Section 107. CONFLICT WITH TRUST INDENTURE ACT
	 	 	10	 
	Section 108. EFFECT OF HEADINGS AND TABLE OF CONTENTS
	 	 	11	 
	Section 109. SUCCESSORS AND ASSIGNS
	 	 	11	 
	Section 110. SEPARABILITY CLAUSE
	 	 	11	 
	Section 111. BENEFITS OF INDENTURE
	 	 	11	 






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TABLE OF CONTENTS

(continued)





	 	 	 	 	 
	 	 	Page
	Section 112. GOVERNING LAW
	 	 	11	 
	Section 113. LEGAL HOLIDAYS
	 	 	11	 
	Section 114. COUNTERPARTS
	 	 	11	 
	 
	 	 	 	 
	ARTICLE TWO   SECURITY FORMS
	 	 	12	 
	 
	Section 201. FORMS GENERALLY
	 	 	12	 
	Section 202. FORM OF FACE OF SECURITY
	 	 	12	 
	Section 203. FORM OF REVERSE OF SECURITY
	 	 	14	 
	Section 204. SECURITIES IN GLOBAL FORM
	 	 	17	 
	Section 205. FORM OF LEGEND FOR GLOBAL SECURITIES
	 	 	18	 
	Section 206. FORM OF TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	 	 	18	 
	 
	ARTICLE THREE   THE SECURITIES
	 	 	19	 
	 
	Section 301. AMOUNT UNLIMITED; ISSUABLE IN SERIES
	 	 	19	 
	Section 302. DENOMINATIONS
	 	 	21	 
	Section 303. EXECUTION, AUTHENTICATION, DELIVERY AND DATING
	 	 	21	 
	Section 304. TEMPORARY SECURITIES
	 	 	23	 
	Section 305. REGISTRATION, REGISTRATION OF TRANSFER AND EXCHANGE
	 	 	23	 
	Section 306. MUTILATED, DESTROYED, LOST AND STOLEN SECURITIES
	 	 	26	 
	Section 307. PAYMENT OF INTEREST; INTEREST RIGHTS PRESERVED
	 	 	27	 
	Section 308. PERSONS DEEMED OWNERS
	 	 	28	 
	Section 309. CANCELLATION
	 	 	28	 
	Section 310. COMPUTATION OF INTEREST
	 	 	29	 
	Section 311. CUSIP, CINS OR ISIN NUMBERS
	 	 	29	 
	 
	ARTICLE FOUR   SATISFACTION AND DISCHARGE
	 	 	29	 
	 
	Section 401. SATISFACTION AND DISCHARGE OF INDENTURE
	 	 	29	 
	Section 402. APPLICATION OF TRUST MONEY
	 	 	30	 
	 
	ARTICLE FIVE   REMEDIES
	 	 	31	 
	 
	Section 501. EVENTS OF DEFAULT
	 	 	31	 






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TABLE OF CONTENTS

(continued)





	 	 	 	 	 
	 	 	Page
	Section 502. ACCELERATION OF MATURITY; RESCISSION AND ANNULMENT
	 	 	32	 
	Section 503. COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY TRUSTEE
	 	 	34	 
	Section 504. TRUSTEE MAY FILE PROOFS OF CLAIM
	 	 	35	 
	Section 505. TRUSTEE MAY ENFORCE CLAIMS WITHOUT POSSESSION OF SECURITIES
	 	 	35	 
	Section 506. APPLICATION OF MONEY COLLECTED
	 	 	36	 
	Section 507. LIMITATION ON SUITS
	 	 	36	 
	Section 508. UNCONDITIONAL RIGHT OF HOLDERS TO RECEIVE PRINCIPAL, PREMIUM AND INTEREST
	 	 	37	 
	Section 509. RESTORATION OF RIGHTS AND REMEDIES
	 	 	37	 
	Section 510. RIGHTS AND REMEDIES CUMULATIVE
	 	 	37	 
	Section 511. DELAY OR OMISSION NOT WAIVER
	 	 	37	 
	Section 512. CONTROL BY HOLDERS
	 	 	37	 
	Section 513. WAIVER OF PAST DEFAULTS
	 	 	38	 
	Section 514. UNDERTAKING FOR COSTS
	 	 	39	 
	Section 515. WAIVER OF STAY OR EXTENSION LAWS
	 	 	39	 
	 
	ARTICLE SIX   THE TRUSTEE
	 	 	39	 
	 
	Section 601. CERTAIN DUTIES AND RESPONSIBILITIES
	 	 	39	 
	Section 602. NOTICE OF DEFAULTS
	 	 	41	 
	Section 603. CERTAIN RIGHTS OF TRUSTEE
	 	 	41	 
	Section 604. NOT RESPONSIBLE FOR RECITALS OR ISSUANCE OF SECURITIES
	 	 	42	 
	Section 605. MAY HOLD SECURITIES
	 	 	42	 
	Section 606. MONEY HELD IN TRUST
	 	 	42	 
	Section 607. COMPENSATION AND REIMBURSEMENT
	 	 	42	 
	Section 608. DISQUALIFICATION; CONFLICTING INTERESTS
	 	 	43	 
	Section 609. CORPORATE TRUSTEE REQUIRED; ELIGIBILITY
	 	 	43	 
	Section 610. RESIGNATION AND REMOVAL; APPOINTMENT OF SUCCESSOR
	 	 	43	 
	Section 611. ACCEPTANCE OF APPOINTMENT BY SUCCESSOR
	 	 	45	 






-vi-









 





TABLE OF CONTENTS

(continued)





	 	 	 	 	 
	 	 	Page
	Section 612. MERGER, CONVERSION, CONSOLIDATION OR SUCCESSION TO BUSINESS
	 	 	46	 
	Section 613. PREFERENTIAL COLLECTION OF CLAIMS AGAINST COMPANY
	 	 	46	 
	Section 614. APPOINTMENT OF AUTHENTICATING AGENT
	 	 	46	 
	 
	ARTICLE SEVEN   HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY
	 	 	48	 
	 
	Section 701. COMPANY TO FURNISH TRUSTEE NAMES AND ADDRESSES OF HOLDERS
	 	 	48	 
	Section 702. PRESERVATION OF INFORMATION; COMMUNICATIONS TO HOLDERS
	 	 	48	 
	Section 703. REPORTS BY TRUSTEE
	 	 	49	 
	Section 704. REPORTS BY COMPANY
	 	 	49	 
	 
	ARTICLE EIGHT   CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE
	 	 	50	 
	 
	Section 801. COMPANY MAY CONSOLIDATE, ETC., ONLY ON CERTAIN TERMS
	 	 	50	 
	Section 802. SUCCESSOR PERSON SUBSTITUTED
	 	 	51	 
	 
	ARTICLE NINE   SUPPLEMENTAL INDENTURES
	 	 	51	 
	 
	Section 901. SUPPLEMENTAL INDENTURES WITHOUT CONSENT OF HOLDERS
	 	 	51	 
	Section 902. SUPPLEMENTAL INDENTURES WITH CONSENT OF HOLDERS
	 	 	52	 
	Section 903. EXECUTION OF SUPPLEMENTAL INDENTURES
	 	 	53	 
	Section 904. EFFECT OF SUPPLEMENTAL INDENTURES
	 	 	54	 
	Section 905. CONFORMITY WITH TRUST INDENTURE ACT
	 	 	54	 
	Section 906. REFERENCE IN SECURITIES TO SUPPLEMENTAL INDENTURES
	 	 	54	 
	 
	ARTICLE TEN   COVENANTS
	 	 	54	 
	 
	Section 1001. PAYMENT OF PRINCIPAL, PREMIUM AND INTEREST
	 	 	54	 
	Section 1002. MAINTENANCE OF OFFICE OR AGENCY
	 	 	54	 
	Section 1003. MONEY FOR SECURITIES PAYMENTS TO BE HELD IN TRUST
	 	 	55	 






-vii-









 





TABLE OF CONTENTS

(continued)





	 	 	 	 	 
	 	 	Page
	Section 1004. STATEMENT BY OFFICERS AS TO DEFAULT
	 	 	56	 
	Section 1005. EXISTENCE
	 	 	56	 
	Section 1006. WAIVER OF CERTAIN COVENANTS
	 	 	56	 
	 
	ARTICLE ELEVEN   REDEMPTION OF SECURITIES
	 	 	57	 
	 
	Section 1101. APPLICABILITY OF ARTICLE
	 	 	57	 
	Section 1102. ELECTION TO REDEEM; NOTICE TO TRUSTEE
	 	 	57	 
	Section 1103. SELECTION BY TRUSTEE OF SECURITIES TO BE REDEEMED
	 	 	57	 
	Section 1104. NOTICE OF REDEMPTION
	 	 	58	 
	Section 1105. DEPOSIT OF REDEMPTION PRICE
	 	 	59	 
	Section 1106. SECURITIES PAYABLE ON REDEMPTION DATE
	 	 	59	 
	Section 1107. SECURITIES REDEEMED IN PART
	 	 	60	 
	 
	ARTICLE TWELVE   SINKING FUNDS
	 	 	60	 
	 
	Section 1201. APPLICABILITY OF ARTICLE
	 	 	60	 
	Section 1202. SATISFACTION OF SINKING FUND PAYMENTS WITH SECURITIES
	 	 	60	 
	Section 1203. REDEMPTION OF SECURITIES FOR SINKING FUND
	 	 	61	 
	 
	ARTICLE THIRTEEN   DEFEASANCE AND COVENANT DEFEASANCE
	 	 	61	 
	 
	Section 1301. APPLICABILITY OF ARTICLE; COMPANY’S OPTION TO EFFECT DEFEASANCE OR COVENANT DEFEASANCE
	 	 	61	 
	Section 1302. DEFEASANCE AND DISCHARGE
	 	 	62	 
	Section 1303. COVENANT DEFEASANCE
	 	 	62	 
	Section 1304. CONDITIONS TO DEFEASANCE OR COVENANT DEFEASANCE
	 	 	62	 
	Section 1305. DEPOSITED MONEY AND U.S. GOVERNMENT OBLIGATIONS TO BE HELD IN TRUST; OTHER MISCELLANEOUS PROVISIONS
	 	 	64	 
	Section 1306. REINSTATEMENT
	 	 	64	 
	 
	ARTICLE FOURTEEN   MEETING OF HOLDERS OF SECURITIES
	 	 	65	 
	 
	Section 1401. PURPOSES FOR WHICH MEETINGS MAY BE CALLED
	 	 	65	 
	Section 1402. CALL, NOTICE AND PLACE OF MEETINGS
	 	 	65	 
	Section 1403. PERSONS ENTITLED TO VOTE AT MEETINGS
	 	 	65	 






-viii-









 





TABLE OF CONTENTS

(continued)





	 	 	 	 	 
	 	 	Page
	Section 1404. QUORUM; ACTION
	 	 	66	 
	Section 1405. DETERMINATION OF VOTING RIGHTS; CONDUCT AND ADJOURNMENT OF MEETINGS
	 	 	66	 
	Section 1406. COUNTING VOTES AND RECORDING ACTION OF MEETINGS
	 	 	67	 
	 
	ARTICLE FIFTEEN   IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS
	 	 	68	 
	 
	Section 1501. INDENTURE AND SECURITIES SOLELY CORPORATE OBLIGATIONS
	 	 	68	 








 




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




-ix-









 










     INDENTURE, dated as of March 5, 2008 between Ferro Corporation, a corporation duly organized
and existing under the laws of the State of Ohio (herein called the “Company”), having its
principal office at 1000 Lakeside Avenue, Cleveland, Ohio 44114, and


U.S. Bank National Association, a national banking association duly organized and existing
under the laws of the United States of America, as Trustee (herein called the “Trustee”).



RECITALS OF THE COMPANY




     The Company has duly authorized the execution and delivery of this Indenture to provide for
the issuance from time to time of its unsecured debentures, notes or other evidences of
indebtedness (herein called the “Securities”), to be issued in one or more series as in this
Indenture provided.



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



     This Indenture is subject to the provisions of the Trust Indenture Act of 1939, as amended,
and the rules and regulations of the Securities and Exchange Commission promulgated thereunder that
are required to be part of this Indenture and, to the extent applicable, shall be governed by such
provisions.



     NOW, THEREFORE, THIS INDENTURE WITNESSETH:



     For and in consideration of the premises and the purchase of the Securities by the Holders
thereof, it is mutually agreed, for the equal and proportionate benefit of all Holders of the
Securities or of any series thereof, as follows:



ARTICLE ONE




Definitions and Other Provisions of General Application 




Section 101. DEFINITIONS.




     For all purposes of this Indenture, 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, either
directly or by reference therein, have the meanings assigned to them therein;




     (3) all accounting terms not otherwise defined herein have the meanings assigned to
them in accordance with generally accepted accounting principles in the United States, 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 as are generally accepted in the United States at the date of this
instrument; and



 









 






     (4) 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.



     “Act”, when used with respect to any Holder, has the meaning specified in Section 104.



     “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 Trustee pursuant to Section 614 to
act on behalf of the Trustee to authenticate Securities of one or more Series.



     “Authorized Newspaper” means a newspaper, in an official language of the place of publication
or in the English language, customarily published on each day that is a Business Day in the place
of publication, whether or not published on days that are Legal Holidays in the place of
publication, and of general circulation in each place in connection with which the term is used or
in the financial community of each such place. Where successive publications are required to be
made in Authorized Newspapers, the successive publications may be made in the same or in different
newspapers in the same city meeting the foregoing requirements and in each case on any day that is
a Business Day in the place of publication. If it is impossible or, in the opinion of the Trustee,
impracticable to publish any notice in the manner herein provided, then such publication in lieu
thereof as shall be made with the approval of the Trustee shall constitute a sufficient publication
of such notice.



     “Board of Directors” means either the board of directors of the Company or any duly authorized
committee of that board.



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



     “Business Day”, when used with respect to any Place of Payment, means each Monday, Tuesday,
Wednesday, Thursday and Friday which is not a day on which banking institutions in that Place of
Payment are authorized or obligated by law or executive order to close.



     “Capital Stock” means shares of capital stock of any class of any corporation whether now or
hereafter authorized regardless of whether such capital stock shall be limited to a fixed sum or
percentage in respect of the rights of the holders thereof to participate in dividends and in
the distribution of assets upon any voluntary or involuntary liquidation, dissolution or
winding up. Capital Stock, with respect to the Company, includes Common Stock and preferred stock.



     “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



-2-









 







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” means common stock, $1.00 par value, of the Company.



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



     “Company Request” or “Company Order” means a written request or order signed in the name of
the Company by its Chairman of the Board, its Vice Chairman of the Board, its President or a Vice
President, and by its Treasurer, an Assistant Treasurer, its Secretary or an Assistant Secretary,
and delivered to the Trustee.



     “Corporate Trust Office” means the principal office of U.S. Bank National Association, 60
Livingston Avenue, St. Paul, Minnesota 55107, Attention: Corporate Trust Services or such other
office in the United States of America at which at any particular time the corporate trust business
of the Trustee or any successor Trustee shall be conducted.



     “corporation” means a corporation, association, company, joint-stock company or business
trust.



     “Debt” shall have the meaning ascribed to it in Section 1008.



     “Defaulted Interest” has the meaning specified in Section 307.



     “Depositary” means, with respect to the Securities of any series issuable or issued in whole
or in part in the form of one or more Securities in book-entry form, the Person designated as
Depositary for such series by the Company pursuant to Section 301, which Person shall be a clearing
agency registered under the Securities Exchange Act of 1934, as amended; and if at any time there
is more than one such Person, ‘Depositary’ as used with respect to the Securities of any series
shall mean the Depositary with respect to the Securities of such series.



     “Event of Default” has the meaning specified in Section 501.



     “Funded Debt” means all indebtedness for money borrowed having a maturity of more than 12
months from the date as of which the amount
thereof is to be determined or having a maturity of less than 12 months but by its terms being
renewable or extendible beyond 12 months from such date at the option of the borrower.



     “Global Security”means a Security that evidences all or part of the Securities of any series
that is issued to a Depositary or a nominee thereof for such series in accordance with
Section 301(4).



     “Guarantee” means any obligation, contingent or otherwise, of any Person directly or
indirectly guaranteeing any Indebtedness or other obligation of any other Person and any
obligation, direct or indirect, contingent or otherwise, of such Person (i) to purchase or pay (or
advance or supply funds for the purchase or payment of) such Indebtedness or other obligation of



-3-









 







such other Person or (ii) entered into for purposes of assuring in any other manner the obligee of
such Indebtedness or other obligation of the payment thereof or to protect such obligee against
loss in respect thereof (in whole or in part); provided, however, that the term
“Guarantee” shall not include endorsements for collection or deposit in the ordinary course of
business. The term “Guarantee” used as a verb has a corresponding meaning.



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



     “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, including, for all purposes of this instrument, and any such
supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part of
and govern this instrument and any such supplemental indenture, respectively. The term “Indenture”
shall also include the terms of particular series of Securities established as contemplated by
Section 301.



     “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 Security, means the Stated Maturity of
an installment of interest on such Security.



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



     “Mortgage” means and includes any mortgage, pledge, lien, security interest, conditional sale
or other title retention agreement or other similar encumbrance.



     “Officers’ Certificate” means a certificate signed by the Chairman of the Board, a Vice
Chairman of the Board, the President or a Vice President, and by the Treasurer, an Assistant
Treasurer, the Secretary or an Assistant Secretary, of the Company, and delivered to the Trustee.
One of the officers signing an Officers’ Certificate
given pursuant to Section 1004 shall be the principal executive, financial or accounting
officer of the Company.



     “Opinion of Counsel” means a written opinion of counsel, who may be counsel for the Company or
other counsel acceptable to the Trustee that, if required by the Trust Indenture Act, complies with
the requirements of Section 314(e) of the Trust Indenture Act.



     “Original Issue Discount Security” means any Security which provides for an amount less than
the principal amount thereof to be due and payable upon a declaration of acceleration of the
Maturity thereof pursuant to Section 502.



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



-4-









 






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




     (ii) Securities for whose payment or redemption money in the necessary amount
has been theretofore deposited with the Trustee or any Paying Agent (other than the
Company) in trust or set aside and segregated in trust by the Company (if the
Company shall act as its own Paying Agent) 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 satisfactory to the
Trustee has been made;




     (iii) any such Security with respect to which the Company has effected
defeasance or covenant defeasance pursuant to Section 402, except to the extent
provided in Section 402; and




     (iv) Securities which have been paid pursuant to Section 306 or in exchange for
or in lieu of which other Securities have been authenticated and delivered pursuant
to this Indenture, other than any such Securities in respect of which there shall
have been presented to the Trustee proof satisfactory to it that such Securities are
held by a bona fide purchaser in whose hands such Securities are valid obligations
of the Company;


PROVIDED, HOWEVER, that in determining whether the Holders of the requisite principal amount of the
Outstanding Securities have given any request, demand, authorization, direction, notice, consent or
waiver hereunder, (i) the principal amount of an Original Issue Discount Security that shall be
deemed to be Outstanding shall be the amount of the principal thereof that would be due and payable
as of the date of such determination upon acceleration of the Maturity thereof pursuant to Section
502, (ii) the principal amount of a Security denominated in one or more foreign currencies or
currency units shall be the U.S. dollar equivalent, determined in the manner provided as
contemplated by Section 301 on the date of original issuance of such Security, of the principal
amount (or, in the case of an Original Issue Discount Security, the U.S.
dollar equivalent on the date of original issuance of such Security of the amount determined as
provided in (i) above) of such Security and (iii) Securities owned by the Company or any other
obligor upon the 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, except that, in determining whether the Trustee shall be protected in relying upon any
such request, demand, authorization, direction, notice, consent or waiver, only Securities which
the Trustee knows to be so owned 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 so to act 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 of
such other obligor.




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



-5-









 





     “Person” means any individual, corporation, partnership, joint venture, trust, unincorporated
organization or government or any agency or political subdivision thereof.



     “Place of Payment”, when used with respect to the Securities of any series, means the place or
places where the principal of and any premium and interest on the Securities of that series are
payable as specified as contemplated by Section 301.



     “Predecessor Security” of any particular Security means every previous Security evidencing all
or a portion of the same debt as that evidenced by such particular Security; and, for the purposes
of this definition, any Security authenticated and delivered under Section 306 in exchange for or
in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same
debt as the mutilated, destroyed, lost or stolen Security.



     “Redemption Date”, when used with respect to any Security to be redeemed, 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 at
which it is to be redeemed pursuant to this Indenture.



     “Regular Record Date” for the interest payable on any Interest Payment Date on the Securities
of any series means the date specified for that purpose as contemplated by Section 301.



     “Securities” has the meaning stated in the first recital of this Indenture and more
particularly means any Securities authenticated and delivered under this Indenture.



     “Security Register” and “Security Registrar” have the respective meanings specified in Section
305.



     “Special Record Date” for the payment of any Defaulted Interest means a date fixed by the
Trustee pursuant to Section 307.



     “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 a corporation more than 50% of the outstanding voting stock of which is
owned, directly or indirectly, by the Company or by one or more other Subsidiaries, or by the
Company and one or more other Subsidiaries. For the purposes of this definition, “voting stock”
means stock which ordinarily has voting power for the election of directors, whether at all times
or only so long as no senior class of stock has such voting power by reason of any contingency.



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



-6-









 







used with respect to
the Securities of any series shall mean the Trustee with respect to Securities of that series.



     “Trust Indenture Act” means the Trust Indenture Act of 1939 as 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” means, to the extent required by any such
amendment, the Trust Indenture Act of 1939 as so amended.



     “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”.



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



Section 102. 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 such certificates and
opinions as may be required under the Trust Indenture Act. Each such certificate or opinion shall
be given in the form of an Officers’ Certificate, if to be given by an officer of the Company, or
an Opinion of Counsel, if to be given by counsel, and shall comply with the requirements of the
Trust Indenture Act and any other requirements set forth in this Indenture.



     Every certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture 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;




     (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 103. 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



-7-









 







and one or more
other such Persons as to other matters, and any such Person may certify or give an opinion as to
such matters in one or several documents.



     Any certificate or opinion of any 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.



     Whenever, subsequent to the receipt by the Trustee of any Board Resolution, Officers’
Certificate, Opinion of Counsel or other document or instrument, a clerical, typographical or other
inadvertent or unintentional error or omission shall be discovered therein, a new document or
instrument may be substituted therefor in corrected form with the same force and effect as if
originally filed in the corrected form and, irrespective of the date or dates of the actual
execution and/or delivery thereof, such substitute document or instrument shall be deemed to have
been executed and/or delivered as of the date or dates required with respect to the document or
instrument for which it is substituted. Anything in this Indenture to the contrary notwithstanding,
if any such corrective document or instrument indicates that action has been taken by or at the
request of the Company that could not have been taken had the original document or instrument not
contained such error or omission, the action so taken shall not be invalidated or otherwise
rendered ineffective but shall be and remain in full force and effect, except to the extent
that such action was a result of willful misconduct or bad faith. Without limiting the generality
of the foregoing, any Securities issued under the authority of such defective document or
instrument shall nevertheless be the valid obligations of the Company entitled to the benefits of
this Indenture equally and ratably with all other Outstanding Securities, except as aforesaid.



Section 104. ACTS OF HOLDERS; RECORD DATES.




     (a) Any request, demand, authorization, direction, notice, consent, waiver or other action
provided by or pursuant to this Indenture to be given or taken by Holders may be embodied in and
evidenced by one or more instruments of substantially similar tenor signed by such Holders in
person or by an agent duly appointed in writing. Any request, demand, authorization, direction,
notice, consent, waiver or other action provided in or pursuant to this Indenture to be given or
taken by Holders of Securities of such series may, alternatively, be embodied in and evidenced by
the record of Holders of Securities of such series voting in favor thereof, either in person or by
proxies duly appointed in writing, at any meeting of Holders of Securities of such series duly
called and held in accordance with the provisions of Article Fifteen or a combination of such
instruments and any such record. Except as herein otherwise expressly provided, such action shall
become effective when such instrument or instruments or record or



-8-









 







both are delivered to the Trustee
and, where it is hereby expressly required, to the Company. Such instrument or instruments and any
such record (and the action embodied therein and evidenced thereby) are herein sometimes referred
to as the “Act” of the Holders signing such instrument or instruments or so voting at any such
meeting. Proof of execution of any such instrument or of a writing appointing any such agent, or of
the holding by any Person of a Security, shall be sufficient for any purpose of this Indenture and
(subject to Section 315 of the Trust Indenture Act) conclusive in favor of the Trustee and the
Company and any agent of the Trustee or the Company, if made in the manner provided in this
Section. The record of any meeting of Holders of Securities shall be proved in the manner provided
in Section 1406.



     Without limiting the generality of this Section 104, unless otherwise provided in or pursuant
to this Indenture, a Holder, including a Depositary that is a Holder of a Global Security, may
make, give or take, by a proxy, or proxies, duly appointed in writing, any request, demand,
authorization, direction, notice, consent, waiver or other Act provided in or pursuant to this
Indenture or the Securities to be made, given or taken by Holders, and a Depositary that is a
Holder of a Global Security may provide its proxy or proxies to the direct or indirect participants
therein or the beneficial owners of interests in any such Global Security through such Depositary’s
standing instructions and customary practices.



     (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 of such execution or by a certificate of a 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 a signer acting in a capacity other than his individual capacity, 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 that the Trustee deems sufficient.



     (c) The Company may, in the circumstances permitted by the Trust Indenture Act, fix any day as
the record date for the purpose of determining the Holders of Securities of any series entitled to
give or take any request, demand, authorization, direction, notice, consent, waiver or other
action, or to vote on any action, authorized or permitted to be given or taken by Holders of
Securities of such series. If not set by the Company prior to the first solicitation of a Holder
of Securities of such series in respect of any such action, or, in the case of any such vote, prior
to such vote, the record date for any such action or vote shall be the 30th day (or, if later, the
date of the most recent list of Holders required to be provided pursuant to Section 701) prior to
such first solicitation or vote, as the case may be. With regard to any record date for action to
be taken by the Holders of one or more series of Securities, only the Holders of Securities of such
series on such date (or their duly designated proxies) shall be entitled to give or take, or vote
on, the relevant action.



     (d) The ownership, principal amount and serial numbers of Securities held by any Person, and
the date of the commencement and the date of the termination of holding the same, shall be proved
by the Security Register.



     (e) Any request, demand, authorization, direction, notice, consent, waiver or other Act of the
Holder of any Security shall bind every future Holder of the same Security and



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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, omitted or suffered to be done by the Trustee, any Security
Registrar, any Paying Agent or the Company in reliance thereon, whether or not notation of such
action is made upon such Security.



Section 105. NOTICES, ETC., TO TRUSTEE AND COMPANY.




     Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or
other document provided or permitted by this Indenture to be made upon, given or furnished to, or
filed with,




     (1) the Trustee by any Holder or by the Company shall be sufficient for every purpose
hereunder if made, given, furnished or filed in writing to or with the Trustee at (i) U.S.
Bank National Association, Corporate Trust Services, 1350 Euclid Avenue, CN-OH-RN11,
Cleveland, Ohio 44115, Attention: Holly H. Pattison and (ii) the Corporate Trust Office, or




     (2) the Company by the Trustee or by any Holder shall be sufficient for every purpose
hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class
postage prepaid, to the Company addressed to it at the address of its principal office
specified in the first paragraph of this instrument, Attention: Corporate Secretary, or at
any other address previously furnished in writing to the Trustee by the Company.



Section 106. NOTICE TO HOLDERS; WAIVER.




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



     In case by reason of the suspension of regular mail service or by reason of any other cause it
shall be impracticable to give such notice by mail, then such notification as shall be made with
the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder.



Section 107. CONFLICT WITH TRUST INDENTURE ACT.




     If any provision hereof limits, qualifies or conflicts with a provision of the Trust Indenture
Act that is required under such Act to be a part of and govern this Indenture, the latter



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provision
shall control. If any provision of this Indenture modifies or excludes any provision of the Trust
Indenture Act that may be so modified or excluded, the latter provision shall be deemed to apply to
this Indenture as so modified or to be excluded, as the case may be.



Section 108. 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 109. SUCCESSORS AND ASSIGNS.




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



Section 110. 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 111. BENEFITS OF INDENTURE.




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



Section 112. GOVERNING LAW.




     This Indenture and the Securities shall be governed by and construed in accordance with the
laws of the State of Ohio, exclusive of its choice of law rules.



Section 113. LEGAL HOLIDAYS.




     In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any
Security shall not be a Business Day at any Place of Payment, then (notwithstanding any other
provision of this Indenture or of the Securities other than a provision of the Securities of any
series which specifically states that such provision shall apply in lieu of this Section) payment
of interest or principal (and premium, if any) need not be made at such Place of Payment on such
date, but may be made on the next succeeding Business Day at such Place of Payment with the same
force and effect as if made on the Interest Payment Date or Redemption Date, or at the Stated
Maturity, PROVIDED that no interest shall accrue with respect to the amount so payable for the
period from and after such Interest Payment Date, Redemption Date or Stated Maturity, as the case
may be.



Section 114. COUNTERPARTS.




     This Indenture may be executed in several counterparts, each of which shall be an original and
all of which shall constitute but one and the same instrument.



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ARTICLE TWO




Security Forms




Section 201. FORMS GENERALLY.




     The Securities of each series shall be in substantially the form set forth in this Article, or
in such other form as shall be established by or pursuant to a Board Resolution or in one or more
indentures supplemental hereto, in each case with such appropriate insertions, omissions,
substitutions and other variations as are required or permitted by this Indenture or any indenture
supplemental hereto, and may have such letters, numbers or other marks of identification and such
legends or endorsements placed thereon as may be required to comply with the rules of any
securities exchange or as may, consistently herewith, be determined by the officers executing such
Securities, as evidenced by their execution of the Securities. If the form of Securities of any
series is established by action taken pursuant to a Board Resolution, a copy of an appropriate
record of such action shall be certified by the Secretary or an Assistant Secretary of the Company
and delivered to the Trustee at or prior to the delivery of the Company Order contemplated by
Section 303 for the authentication and delivery of such Securities.



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



Section 202. FORM OF FACE OF SECURITY.




     [INSERT ANY LEGEND REQUIRED BY THE INTERNAL REVENUE CODE AND THE REGULATIONS THEREUNDER.]



FERRO CORPORATION




			
	 	 	 
	No.                     
	 	$                     






     Ferro Corporation, a corporation duly organized and existing under the laws of Ohio (herein
called the “Company”, which term includes any successor Person under the Indenture hereinafter
referred to), for value received, hereby promises to pay to ___, or registered
assigns, the principal sum of ___ Dollars ($___) on
___ [IF THE SECURITY IS TO BEAR INTEREST PRIOR TO MATURITY, INSERT — , and to
pay interest thereon from ___ or from the most recent Interest Payment Date to which
interest has been paid or duly provided for, semi-annually on
___ and ___ in each
year, commencing ___, at the rate of ___% per annum, until the principal hereof is paid
or made available for payment [IF APPLICABLE, INSERT — , and (to the extent that the payment of
such interest shall be legally enforceable) at the rate of ___% per annum on any overdue principal
and premium and on any overdue installment of interest]. The interest so payable, and punctually
paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be
paid to the Person in whose name this Security (or one or more Predecessor Securities) is
registered at the close of



-12-









 







business on the Regular Record Date for such interest, which shall be
the _________ or _________ (whether or not a Business Day), as the case may be, next preceding such
Interest Payment Date. Any such interest not so punctually paid or duly provided for will
forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to
the Person in whose name this Security (or one or more Predecessor Securities) is registered at the
close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed
by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than
10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not
inconsistent with the requirements of any securities exchange on which the securities of this
series may be listed, and upon such notice as may be required by such exchange, all as more fully
provided in said Indenture]. [IF THE SECURITY IS NOT TO BEAR INTEREST PRIOR TO MATURITY, INSERT —
The principal of this Security shall not bear interest except in the case of a default in payment
of principal upon acceleration, upon redemption or at Stated Maturity and in such case the overdue
principal of this Security shall bear interest at the rate of ___% per annum (to the extent that
the payment of such interest shall be legally enforceable), which shall accrue from the date of
such default in payment to the date payment of such principal has been made or duly provided for.
Interest on any overdue principal shall be payable on demand. Any such interest on any overdue
principal that is not so paid on demand shall bear interest at the rate of ___% per annum (to the
extent that the payment of such interest shall be legally enforceable), which shall accrue from the
date of such demand for payment to the date payment of such interest has been made or duly provided
for, and such interest shall also be payable on demand.]



     Payment of the principal of (and premium, if any) and [IF APPLICABLE, INSERT — any such]
interest on this Security will be made at the office or agency of the Company maintained for that
purpose in ___, in such coin or currency of [the United States of America] [insert other
currency, if applicable] as at the time of payment is legal tender for payment of public and
private debts [IF APPLICABLE, INSERT — ; PROVIDED, HOWEVER, that at the option of the Company
payment of interest may be made by check mailed to the address of the Person entitled thereto as
such address shall appear in the Security Register or by transfer to an account maintained by such
Person with a bank located in the United States provided that appropriate transfer instructions
shall have been delivered by such Person to the Paying Agent in writing at least five Business Days
prior to the Regular Record Date].



     Reference is hereby made to the further provisions of this Security set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as if set forth at
this place.



     Unless the certificate of authentication hereon has been executed by the Trustee referred to
on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under
the Indenture or be valid or obligatory for any purpose.



-13-









 





     IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed.



Dated:




	 	 	 	 	 
	 	FERRO CORPORATION

 	 
	 	By:  	 	 



Attest:




Section 203. FORM OF REVERSE OF SECURITY.





     This Security is one of a duly authorized issue of securities of the Company (herein called
the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of
___, 200___ (herein called the “Indenture”), between the Company and ___,
as Trustee (herein called the “Trustee”, which term includes any successor trustee under the
Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for
a statement of the respective rights, limitations of rights, duties and immunities thereunder of
the Company, the Trustee and the Holders of the Securities and of the terms upon which the
Securities are, and are to be, authenticated and delivered. This Security is one of the series
designated on the face hereof [, limited in aggregate principal amount to $___].



     [IF APPLICABLE, INSERT — The Securities of this series are subject to redemption upon not
more than 60 or less than 30 days’ notice by mail, [IF
APPLICABLE, INSERT — (1) on ___ in
any year commencing with the year ___ and ending with the
year ___ through operation of the
sinking fund for this series at a Redemption Price equal to 100%
of the principal amount, and (2)] at any time [on or after ___, 20___], as a whole or
in part, at the election of the Company, at the following Redemption Prices (expressed as
percentages of the principal amount): If redeemed [on or before ___, ___%, and if
redeemed] during the 12-month period beginning ___ of the years indicated.




	 	 	 	 	 	 
	 	 	Redemption	 	 
	Year	 	Price	 	 
	 
	 	 	 	 	 




and thereafter at a Redemption Price equal to ___% of the principal amount, together in the case
of any such redemption [IF APPLICABLE, INSERT — (whether through operation of the sinking fund or
otherwise)] with accrued interest to the Redemption Date, but interest installments whose Stated
Maturity is on or prior to such Redemption Date will be payable to the Holders of such Securities,
or one or more Predecessor securities, of record at the close of business on the relevant Record
Dates referred to on the face hereof, all as provided in the Indenture.]




     [IF APPLICABLE, INSERT — The Securities of this series are subject to redemption upon not
more than 60 or less than 30 days’ notice by mail,
(1) on ___ in any year



-14-









 








commencing
with the year ____________ and ending with the year ____________ through operation of the sinking fund for this
series at the Redemption Prices for redemption through operation of the sinking fund (expressed as
percentages of the principal amount) set forth in the table below, and (2) at any time [on or after
___], as a whole or in part, at the election of the Company, at the Redemption Prices for
redemption otherwise than through operation of the sinking fund (expressed as percentages of the
principal amount) set forth in the table below: If redeemed during the 12-month period beginning
___ of the years indicated,




	 	 	 	 	 	 
	 	 	Redemption Price For	 	Redemption Price For
	 	 	Redemption Through	 	Redemption Otherwise
	 	 	Operation of the	 	Than Through Operation
	Year	 	Sinking Fund	 	of the Sinking Fund
	 
	 	 
	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 




and thereafter at a Redemption Price equal to ___% of the principal amount, together in the case
of any such redemption (whether through operation of the sinking fund or otherwise) with accrued
interest to the Redemption Date, but interest installments whose Stated Maturity is on or prior to
such Redemption Date will be payable to the Holders of such Securities, or one or more
Predecessor Securities, of record at the close of business on the relevant Record Dates referred to
on the face hereof, all as provided in the Indenture.]




     [Notwithstanding the foregoing, the Company may not, prior to ___, redeem any
Securities of this series as contemplated by [Clause (2) of] the preceding paragraph as a part of,
or in anticipation of, any refunding operation by the application, directly or indirectly, of
moneys borrowed having an interest cost to the Company (calculated in accordance with generally
accepted financial practice) of less than ___% per annum.]



     [The
sinking fund for this series provides for the redemption on ___ in each year
beginning with the year ___ and ending with the year
___ of [not less than $___
(“mandatory sinking fund”) and not more than]
$___ aggregate principal amount of Securities
of this series.



     Securities of this series acquired or redeemed by the Company otherwise than through
[mandatory] sinking fund payments may be credited against subsequent [mandatory] sinking fund
payments otherwise required to be made — [in the inverse order in which they become due].]



     [if the Security is subject to redemption, insert — In the event of redemption of this
Security in part only, a new Security or Securities of this series and of like tenor for the
unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation
hereof.]



-15-









 





     [If applicable, insert — The Securities of this series are not redeemable prior to maturity.]



     [If the Security is not an Original Issue Discount Security, insert — If an Event of Default
with respect to Securities of this series shall occur and be continuing, the principal of the
Securities of this series may be declared due and payable in the manner and with the effect
provided in the Indenture.]



     [If the Security is an Original Issue Discount Security, insert — If an Event of Default with
respect to Securities of this series shall occur and be continuing, an amount of principal of the
Securities of this series may be declared due and payable in the manner and with the effect
provided in the Indenture. Such amount shall be equal to — insert formula for determining the
amount. Upon payment (i) of the amount of principal so declared due and payable and (ii) of
interest on any overdue principal and overdue interest (in each case to the extent that the payment
of such interest shall be legally enforceable), all of the Company’s obligations in respect of the
payment of the principal of and interest, if any, on the Securities of this series shall
terminate.]



     [The Indenture contains provisions for defeasance at any time of [the entire indebtedness of
this Security or] [certain restrictive covenants and Events of Default with respect to this
Security][, in each case] upon compliance with certain conditions set forth therein.]



     The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the
Securities [of each series] to be effected under the Indenture at any time by the
Company and the Trustee with the consent of the Holders of a majority in principal amount of
the Securities at the time Outstanding [of each series] to be affected. The Indenture also
contains provisions permitting the Holders of specified percentages in principal amount of the
Securities [of each series] at the time Outstanding, on behalf of the Holders of all securities [of
such series], to waive compliance by the Company with certain provisions of the Indenture and
certain past defaults under the Indenture and their consequences. Any such consent or waiver by
the Holder of this Security shall be conclusive and binding upon such Holder and upon all future
Holders of this Security and of any Security issued upon the registration of transfer hereof or in
exchange therefor or in lieu hereof, whether or not notation of such consent or waiver is made upon
this Security.



     [As provided in and subject to the provisions of the Indenture, the Holder of this Security
shall not have the right to institute any proceeding, judicial or otherwise, with respect to the
Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder,
unless: (i) such Holder shall have previously given the Trustee written notice of a continuing
Event of Default with respect to the Securities of this series; (ii) the Holders of not less than a
majority in principal amount of the Outstanding Securities of this series shall have made written
request to the Trustee to institute proceedings in respect of such Event of Default as Trustee
thereunder; (iii) such Holder or Holders have offered to the Trustee reasonable indemnity against
the costs, expenses and liabilities to be incurred in compliance with such request; (iv) the
Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to
institute and such proceedings; and (v) 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 principle
amount of the



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Outstanding Securities of this series. The foregoing shall not apply to any suit
instituted by the Holder of this Security for the enforcement of any payment of principal hereof or
any premium or interest hereon on or after the respective due dates expressed or provided for
herein.]



     No reference herein to the Indenture and no provision of this Security or of the Indenture
shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay
the principal of and any premium [and interest] on this Security at the times, place and rate, and
in the coin or currency, herein prescribed.



     As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Security is registerable in the Security Register, upon surrender of this Security
for registration of transfer at the office or agency of the Company in any place where the
principal of (and premium, if any) and interest on this security are payable, duly endorsed by, or
accompanied by a written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing,
and thereupon one or more new Securities of this series and of like tenor, of authorized
denominations and for the same aggregate principal amount, will be issued to the designated
transferee or transferees.



     The Securities of this series are issuable only in registered form without coupons in
denominations of $___ and any integral multiple thereof. As provided in the Indenture and
subject to certain limitations therein set forth, Securities of this series are exchangeable for a
like aggregate principal amount of Securities of this series and of like tenor of a different
authorized denomination, as requested by the Holder surrendering the same.



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



     Prior to due presentment of this Security for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in whose name this
Security is registered as the owner hereof for all purposes, whether or not this Security be
overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary.



     All terms used in this Security which are defined in the Indenture shall have the meanings
assigned to them in the Indenture.



Section 204. SECURITIES IN GLOBAL FORM.




     Unless otherwise provided in or pursuant to this Indenture or any Securities, the
Securities shall not be issuable in global form. If Securities of a series shall be
issuable in temporary or permanent global form, any such Security may provide that it or
any number of such Securities shall represent the aggregate amount of all Outstanding
Securities of such series (or such lesser amount as is permitted by the terms thereof) from
time to time endorsed thereon and may also provide that the aggregate amount of Outstanding
Securities represented thereby may from time to time be increased or reduced to reflect
exchanges. Any endorsement of any Security in global form to reflect



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the amount, or any
increase or decrease in the amount, or changes in the rights of Holders, of Outstanding
Securities represented thereby shall be made in such manner and by such Person or Persons
as shall be specified therein or in the Company Order to be delivered pursuant to
Section 303 or 304 with respect thereto. Subject to the provisions of Section 303 and, if
applicable, Section 304, the Trustee shall deliver and redeliver any Security in permanent
global form in the manner and upon instructions given by the Person or Persons specified
therein or in the applicable Company Order. If a Company Order pursuant to Section 303 or
304 has been, or simultaneously is, delivered, any instructions by the Company with respect
to a Security in global form shall be in writing but need not be accompanied by or
contained in an Officers’ Certificate and need not be accompanied by an Opinion of Counsel.



     Notwithstanding the provisions of Section 307, unless otherwise specified in or
pursuant to this Indenture or any Securities, payment of principal of, any premium and
interest on, and any Additional Amounts in respect of any Security in temporary or
permanent global form shall be made to the Person or Persons specified therein.



     Notwithstanding the provisions of Section 308 and except as provided in the preceding
paragraph, the Company, the Trustee and any agent of the Company and the Trustee shall
treat as the Holder of such principal amount of Outstanding Securities represented by a
Global Security the Holder of such Global Security in registered form.



Section 205. FORM OF LEGEND FOR GLOBAL SECURITIES.




     Unless otherwise specified as contemplated by Section 301 for the Securities evidenced
thereby, every Global Security authenticated and delivered hereunder shall bear a legend in
substantially the following form:




     THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE
HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE
THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY
REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED,
IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN
THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.



Section 206. FORM OF TRUSTEE’S CERTIFICATE OF AUTHENTICATION.




     THE TRUSTEE’S CERTIFICATES OF AUTHENTICATION SHALL BE IN SUBSTANTIALLY THE FOLLOWING FORM:



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



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	 	By:  	
 	 
	 	 	Authorized Officer 	 
	 	 	 	 
	 



ARTICLE THREE




The Securities




Section 301. AMOUNT UNLIMITED; ISSUABLE IN SERIES.





     The aggregate principal amount of Securities which may be authenticated and delivered and
Outstanding under this Indenture is unlimited.



     The Securities may be issued in one or more series. There shall be established in or pursuant
to a Board Resolution and, subject to Section 303, set forth, or determined in the manner provided,
in an Officers’ Certificate, or established in one or more indentures supplemental hereto, prior to
the issuance of Securities of any series:




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




     (2) any limit upon the aggregate principal amount of the Securities of the 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 the series pursuant to Section 304, 305, 306, 906 or 1107; upon repayment in
part of any Security of such series pursuant to Article Thirteen; upon surrender in part of
any Security for conversion or exchange into Capital Stock or other securities pursuant to
its terms; or pursuant to the terms of such Securities and except for any Securities which,
pursuant to Section 303, are deemed never to have been authenticated and delivered
hereunder);




     (3) the Person to whom any interest on a Security of the 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;




     (4) if any of such Securities are to be issuable in global form, when any of such
Securities are to be issuable in global form and (i) whether such Securities are to be
issued in temporary or permanent global form or both, (ii) whether beneficial owners of
interests in any such Global Security may exchange such interests for Securities of the same
series and of like tenor and of any authorized form and denomination, and the circumstances
under which any such exchanges may occur, if other than in the manner specified in
Section 305, and (iii) the name of the Depositary, as the case may be, with respect to any
Global Security;




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



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     (6) the rate or rates at which the Securities of the 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;




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




     (8) whether any of the Securities are to be redeemable at the option of the Company
and, if so the period or periods within which, the price or prices at which and the terms
and conditions upon which Securities of the series may be redeemed, in whole or in part, at
the option of the Company;




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




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




     (11) whether the Securities of the series will be convertible into shares of Capital
Stock and/or exchangeable for other securities, and if so, the terms and conditions upon
which such Securities will be so convertible or exchangeable, and any deletions from or
modifications or additions to this Indenture to permit or to facilitate the issuance of such
convertible or exchangeable Securities or the administration thereof;




     (12) the currency, currencies or currency units in which payment of the principal of
and any premium and interest on any Securities of the series shall be payable if other than
the currency of the United States of America and the manner of determining the equivalent
thereof in the currency of the United States of America for purposes of the definition of
“Outstanding” in Section 101;




     (13) if the amount of payments of principal of or any premium or interest on any
Securities of the series may be determined with reference to an index or formula, the manner
in which such amounts shall be determined;




     (14) if the principal of or any premium or interest on any Securities of the series is
to be payable, at the election of the Company or a Holder thereof, in one or more currencies
or currency units other than that or those in which the Securities are stated to be payable,
the currency, currencies or currency units in which payment of the principal of and any
premium and interest on Securities of such series as to which such election is made shall be
payable, and the periods within which and the terms and conditions upon which such election
is to be made;




     (15) any deletions from, modifications of or additions to the Events of Default or
covenants of the Company with respect to any of such Securities, provided that any



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such
deletions, modifications or additions are substantially consistent with the Events of
Default or covenants set forth herein;




     (16) if other than the principal amount thereof, the portion of the principal amount of
Securities of the series which shall be payable upon declaration of acceleration of the
Maturity thereof pursuant to Section 502;




     (17) the terms, if any, of any Guarantee of the payment of principal of, and premium,
if any, and interest on, Debt Securities of the series and any corresponding changes to the
provisions of this Indenture as currently in effect;




     (18) the application, if any, of Section 1302 or 1303 to the Securities of any series;
and




     (19) any other terms of the series (which terms shall not be inconsistent with the
provisions of this Indenture, except as permitted by Section 901(5)).



     All Securities of any one series shall be substantially identical except as to denomination
and except as may otherwise be provided in or pursuant to the Board Resolution referred to above
and (subject to Section 303) set forth, or determined in the manner provided, in the Officers’
Certificate referred to above or in any such indenture supplemental hereto.



     If any of the terms of the series are established by action taken pursuant to a Board
Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or
an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of
the Officers’ Certificate setting forth the terms of the series.



Section 302. DENOMINATIONS.




     The Securities of each series shall be issuable in registered form without coupons in such
denominations as shall be specified as contemplated by Section 301. In the absence of any such
provisions with respect to the Securities of any series, the Securities of such series shall be
issuable in denominations of $1,000 and any integral multiple thereof.



Section 303. EXECUTION, AUTHENTICATION, DELIVERY AND DATING.




     The Securities shall be executed on behalf of the Company by its Chairman of the Board, its
Vice Chairman of the Board, its President or one of its Vice Presidents, attested by its Secretary
or one of its Assistant Secretaries. The signature of any of these 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 of any Series executed by the Company to the Trustee for




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authentication, together with a Company Order for the authentication and delivery of such
Securities, and the Trustee in accordance with the Company Order shall authenticate and deliver
such Securities. If the form or terms of the Securities of the series have been established in or
pursuant to one or more Board Resolutions as permitted by Sections 201 and 301, in authenticating
such Securities, and accepting the additional responsibilities under this Indenture in relation to
such Securities, the Trustee shall be entitled to receive, and (subject to Section 601) shall be
fully protected in relying upon, an Opinion of Counsel stating,




          (a) if the form of such Securities has been established by or pursuant to Board Resolution as
permitted by Section 201, that such form has been established in conformity with the provisions of
this Indenture;




          (b) if the terms of such Securities have been established by or pursuant to Board Resolution
as permitted by Section 301, that such terms have been established in conformity with the
provisions of this Indenture; and




          (c) that such Securities, when authenticated and delivered by the Trustee and issued by the
Company in the manner and subject to any conditions specified in such Opinion of Counsel, will
constitute valid and legally binding obligations of the Company, enforceable in accordance with
their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium,
arrangement, fraudulent conveyance and similar laws of general applicability relating to or
affecting creditors’ rights and to general equity principles.




     If such form or terms have been so established, the Trustee shall not be required to
authenticate such Securities if the issue of such Securities pursuant to this Indenture will affect
the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise
in a manner which is not reasonably acceptable to the Trustee.



     Notwithstanding the provisions of Section 301 and of the preceding paragraph, if all
Securities of a series are not to be originally issued at one time, it shall not be necessary to
deliver the Officers’ Certificate otherwise required pursuant to Section 301 or the Company Order
and Opinion of Counsel otherwise required pursuant to such preceding paragraph at or prior to the
time of authentication of each Security of such series if such documents are delivered at or prior
to the authentication upon original issuance of the first Security of such series to be issued and
such documents reasonably contemplate the issuance of all Securities of such series.



     Each Security shall be dated the date of its 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 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 309, for
all purposes of this Indenture such Security shall be deemed never



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



Section 304. TEMPORARY SECURITIES.




     Pending the preparation of definitive Securities of any Series, the Company may execute, and
upon Company Order the Trustee shall authenticate and deliver, temporary Securities which are
printed, lithographed, typewritten, or xerographically 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 conclusively evidenced by their execution of
such Securities.



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



Section 305. REGISTRATION, REGISTRATION OF TRANSFER AND EXCHANGE.




     The Company shall cause to be kept a register (the register maintained in such office and in
any other office or agency of the Company in a Place of Payment being herein sometimes collectively
referred to as the “Security Register”) in which, subject to such reasonable regulations as it may
prescribe, the Company shall provide for the registration of Securities and of transfers of
Securities. Such Office or Agency shall be the “Security Registrar” for that series of Securities.
Unless otherwise specified in or pursuant to this Indenture or the Securities, the Trustee shall be
the initial Security Registrar for each series of Securities. The Company shall have the right to
remove and replace from time to time the Security Registrar for any series of Securities; provided
that no such removal or replacement shall be effective until a successor Security Registrar with
respect to such series of Securities shall have been appointed by the Company and shall have
accepted such appointment. In the event that the Trustee shall not be or shall cease to be Security
Registrar with respect to a series of Securities, it shall have the right to examine the Security
Register for such series at all reasonable times. There shall be only one Security Register for
each series of Securities.



     Upon surrender for registration of transfer of any Security of any series at the office or
agency in a Place of Payment for that series, the Company shall execute, and the Trustee shall
authenticate and deliver, in the name of the designated transferee or transferees, one or more new



-23-









 







Securities of the same series, of any authorized denominations and of a like aggregate principal
amount and tenor.



     At the option of the Holder, Securities of any series may be exchanged for other Securities of
the same series, of any authorized denominations and of a like aggregate principal amount and
tenor, upon surrender of the Securities to be exchanged at such office or agency. Whenever any
Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall
authenticate and deliver, the Securities that the Holder making the exchange is entitled to
receive.



     Notwithstanding the foregoing, except as otherwise provided in or pursuant to this Indenture,
any Global Security shall be exchangeable for definitive Securities only if (i) the Depositary
notified the Company that it is unwilling, unable or ineligible to continue as Depositary for such
Global Security, or if at any time such Depositary ceases to be a clearing agency registered under
the Securities Exchange Act of 1934, as amended, and a successor depositary is not appointed by the
Company within 90 days of the date the Company is so informed in writing, (ii) the Company executes
and delivers to the Trustee a Company Order to the effect that such Global Security shall be so
exchangeable, or (iii) an Event of Default has occurred and is continuing with respect to the
Securities. Any Global Security that is exchangeable pursuant to the preceding sentence shall be
exchangeable for Securities registered in such names as the Depositary shall direct. If the
beneficial owners of interests in a Global Security are entitled to exchange such interests for
definitive Securities as the result of an event described in clause (i), (ii) or (iii) of the
preceding sentence, then without unnecessary delay but in any event not later than the earliest
date on which such interests may be so exchanged, the
Company shall deliver to the Trustee definitive Securities in such form and denominations as
are required by or pursuant to this Indenture, and of the same series, containing identical terms
and in aggregate principal amount equal to the principal amount of such Global Security, executed
by the Company. On or after the earliest date on which such interests may be so exchanged, such
Global Security shall be surrendered from time to time by the Depositary as shall be specified in
the Company Order with respect thereto, and in accordance with instructions given to the Trustee
and the Depositary, as the case may be (which instructions shall be in writing but need not be
contained in or accompanied by an Officers’ Certificate or be accompanied by an Opinion of
Counsel), as shall be specified in the Company Order with respect thereto to the Trustee, as the
Company’s agent for such purpose, to be exchanged, in whole or in part, for definitive Securities
as described above without charge. The Trustee shall authenticate and make available for delivery,
in exchange for each portion of such surrendered Global Security, a like aggregate principal amount
of definitive Securities of the same series of authorized denominations and of like tenor as the
portion of such Global Security to be exchanged; provided, however, that no such exchanges may
occur during a period beginning at the opening of business 15 days before any selection of
Securities of the same series to be redeemed and ending on the relevant Redemption Date. Promptly
following any such exchange in part, such Global Security shall be returned by the Trustee to such
Depositary or such other Depositary referred to above in accordance with the instructions of the
Company referred to above. If a Security is issued in exchange for any portion of a Global Security
after the close of business at the Office or Agency for such Security where such exchange occurs on
or after (i) any Regular Record Date for such Security and before the opening of business at such
Office or Agency on the next Interest Payment Date, or (ii) any Special Record Date for such
Security and before the opening of



-24-









 







business at such Office or Agency on the related proposed date
for payment of interest or Defaulted Interest, as the case may be, interest shall not be payable on
such Interest Payment Date or proposed date for payment, as the case may be, in respect of such
Security, but shall be payable on such Interest Payment Date or proposed date for payment, as the
case may be, only to the Person to whom interest in respect of such portion of such Global Security
shall be payable in accordance with the provisions of this Indenture.



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



     No service charge shall be made for any registration of transfer or exchange of Securities at
the Corporate Trust Office, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge and any other expenses (including fees and expenses of the
Trustee) that may be imposed in connection with any registration of transfer or exchange of
Securities, other than exchanges pursuant to Section 304, 906 or 1107, upon repayment in part of
any Security pursuant to Article Thirteen, or upon surrender in part of any Security for
conversion or exchange into Capital Stock or other securities pursuant to its terms, in each
case not involving any transfer.



     The Company shall not be required (i) to issue, register the transfer of or exchange
Securities 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 that series selected for redemption
under Section 1103 and ending at the close of business on the day of such mailing; (ii) to register
the transfer of or exchange any Security so selected for redemption in whole or in part, except in
the case of any Security to be redeemed in part, the portion thereof not to be redeemed; or (iii)
to issue, register the transfer of or exchange any Security which, in accordance with its terms,
has been surrendered for repayment at the option of the Holder, except the portion, if any, of such
Security not to be so repaid.



     The provisions of Clauses (1), (2) and (3) below shall apply only to Global Securities:



     (1) Each Registered Global Security authenticated under this Indenture shall be registered in
the name of the Depositary designated for such Global Security or a nominee thereof and delivered
to such Depositary or a nominee thereof or custodian therefor, and each such Global Security shall
constitute a single Security for all purposes of this Indenture.



     (2) Any exchange or transfer of a Registered Global Security for other Securities may be made
in whole or in part, and all Securities issued in exchange for or upon transfer of a Global
Security or any portion thereof shall be registered in such names as the Depositary for such Global
Security shall direct.



-25-









 





     (3) Every Security authenticated and delivered upon registration of transfer of, or in
exchange for or in lieu of, a Global Security or any portion thereof, whether pursuant to this
Section, Section 304, 306, 906 or 1107 or otherwise, shall be authenticated and delivered in the
form of, and shall be, a Global Security, unless such Security is registered in the name of a
Person other than the Depositary for such Global Security or a nominee thereof.



     Notwithstanding any other provision in this Indenture, a Global Security may not be
transferred except as a whole by the Depositary with respect to such Global Security to a nominee
of such Depositary or by a nominee of such Depositary to such Depositary or another nominee of such
Depositary.



Section 306. MUTILATED, DESTROYED, LOST AND STOLEN SECURITIES.




     If any mutilated Security is surrendered to the Trustee, the Company shall execute and the
Trustee shall authenticate and deliver in exchange therefor a new Security of the same series and
of like tenor and principal amount and bearing a number not contemporaneously outstanding.



     If there shall be delivered to the Company and the Trustee (i) evidence to their satisfaction
of the destruction, loss or theft of any Security and (ii) such security or indemnity as may be
required by them to save each of them and any agent of either of them harmless, then, in the
absence of notice to the Company or the Trustee that such Security has been acquired by a bona fide
purchaser, the Company shall execute and the Trustee shall authenticate and deliver in
lieu of any such destroyed, lost or stolen Security, a new Security of the same series and of
like tenor and principal amount and bearing a number not contemporaneously outstanding.



     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 of any series 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 that series duly issued hereunder.



     The provisions of this Section, as amended or supplemented pursuant to this Indenture with
respect to particular Securities or generally, 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.



-26-









 





Section 307. PAYMENT OF INTEREST; INTEREST RIGHTS PRESERVED.




     Except as otherwise provided as contemplated by Section 301 with respect to any series of
Securities, 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 of any series which is payable, but is not punctually paid or
duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall
forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having
been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each
case, as provided in Clause (1) or (2) below:




     (1) The Company may elect to make payment of any Defaulted Interest to the Persons in
whose names the Securities of such series (or their respective Predecessor Securities) are
registered at the close of business on a Special Record Date for the payment of such
Defaulted Interest, which shall be fixed in the following manner. The Company shall notify
the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each
Security of such series and the date of the proposed payment, and at the same time the
Company shall deposit with the Trustee an amount of money equal to the aggregate amount
proposed to be paid in respect of such Defaulted Interest or shall make arrangements
satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such
money when deposited to be held in trust for the benefit of the Persons entitled to such
Defaulted Interest as in this Clause provided. Thereupon the
Trustee shall fix a Special Record Date for the payment of such Defaulted Interest
which shall be not more than 15 days and not less than 10 days prior to the date of the
proposed payment and not less than 10 days after the receipt by the Trustee of the notice of
the proposed payment. The Trustee shall promptly notify the Company of such Special Record
Date and, in the name and at the expense of the Company, shall cause notice of the proposed
payment of such Defaulted Interest and the Special Record Date therefor to be mailed,
first-class postage prepaid, to each Holder of Securities of such series at his address as
it appears in the Security Register, not less than 10 days prior to such Special Record
Date. The Trustee may, in its discretion, in the name and at the expense of the Company
cause a similar notice to be published at least once in an Authorized Newspaper of general
circulation in the Borough of Manhattan, The City of New York, but such publication shall
not be a condition precedent to the establishment of such Special Record Date. Notice of the
proposed payment of such Defaulted Interest and the Special Record Date therefor having been
so mailed, such Defaulted Interest shall be paid to the Persons in whose names the
Securities of such series are registered at the close of business 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 on the Securities of any
series 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



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Trustee of the proposed payment
pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee.



     Unless otherwise provided in or pursuant to this Indenture or the Securities of any particular
series, at the option of the Company, interest on Securities registered in the Securities Register
that bear interest may be paid by mailing a check to the address of the Person entitled thereto as
such address shall appear in the Security Register or by transfer to an account maintained by the
payee with a bank located in the United States, provided that appropriate transfer instructions
shall have been delivered by such payee to the Paying Agent in writing at least five Business Days
prior to the applicable date for payment of interest.



     Subject to the foregoing provisions of this Section and Section 305, 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 308. PERSONS DEEMED OWNERS.




     Prior to due presentment of a Security for registration of transfer, the Company, the Trustee
and any agent of the Company or the Trustee may treat the Person in whose name such Security is
registered as the owner of such Security for the purpose of receiving payment of principal of and
any premium and (subject to Sections 305 and 307), any 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.



     No holder of any beneficial interest in any Global Security held on its behalf by a Depositary
shall have any rights under this Indenture with respect to such Global Security, and such
Depositary may be treated by the Company, the Trustee, and any agent of the Company or the Trustee
as the owner of such Global Security for all purposes whatsoever. Ownership of beneficial interest
in any Global Security will be shown only on, and the transfer of those ownership interests will be
effected only through, records maintained by the Depositary. 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.



Section 309. CANCELLATION.




     All Securities surrendered for payment, redemption, registration of transfer, exchange or
conversion or for credit against any sinking fund payment shall, if surrendered to any Person other
than the Trustee, be delivered to the Trustee, who shall promptly cancel the Securities. 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 may deliver to the Trustee (or to any other Person for delivery to the Trustee) for
cancellation any Securities previously authenticated hereunder which the Company has not issued and
sold, and all Securities so delivered shall be promptly cancelled by the Trustee. No



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Securities
shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this
Section, except as expressly permitted by this Indenture. All cancelled Securities held by the
Trustee shall be destroyed in accordance with the Trustee’s customary practices.



Section 310. COMPUTATION OF INTEREST.




     Except as otherwise specified as contemplated by Section 301 for Securities of any series,
interest on the Securities of each series shall be computed on the basis of a 360-day year of
twelve 30-day months.



Section 311. CUSIP, CINS OR ISIN NUMBERS.




     The Company in issuing the Securities may use “CUSIP”, “CINS” or “ISIN” numbers (if then
generally in use), and, if so, the Trustee or the Company shall use “CUSIP”, “CINS” or “ISIN”
numbers in notices of redemption or repurchase as a convenience to Holders; provided that any such
notice may state that no representation is made as to the correctness of such numbers either as
printed on the Securities or as contained in any notice of a redemption or repurchase and that
reliance may be placed only on the other identification numbers printed on the Securities, and any
such redemption or repurchase shall not be affected by any defect in or omission of such numbers.



ARTICLE FOUR




Satisfaction and Discharge




Section 401. SATISFACTION AND DISCHARGE OF INDENTURE.




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




     (1) either




     (A) all Securities theretofore authenticated and delivered (other than (i)
Securities which have been destroyed, lost or stolen and which have been replaced or
paid as provided in Section 306 and (ii) Securities for whose payment money 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 1003) have been delivered to the Trustee for cancellation; or




     (B) all such Securities not theretofore delivered to the Trustee for
cancellation




     (i) have become due and payable, or



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     (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
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 deposited or caused to be deposited with the Trustee as
trust funds in trust for the purpose an amount sufficient to pay and discharge the
entire indebtedness on such Securities not theretofore delivered to the Trustee for
cancellation, for principal and any premium 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;




     (2) the Company has paid or caused to be paid all other sums payable hereunder by the
Company; 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 as to such series have been complied with.



     In the event there are Securities of two or more series hereunder, the Trustee shall be
required to execute an instrument acknowledging satisfaction and discharge of this Indenture only
if requested to do so with respect to Securities of such series as to which it is Trustee and if
the other conditions thereto are met.



     Notwithstanding the satisfaction and discharge of this Indenture with respect to any series of
Securities, the obligations of the Company to the Trustee under Section 607 and, if money shall
have been deposited with the Trustee pursuant to subclause (b) of clause (1) of this Section, the
obligations of the Company and the Trustee with respect to the Securities of such series under
Sections 305, 306, 402, 1002 and 1003 and with respect to any rights to convert or exchange such
Securities into Capital Stock or other securities, shall survive.



Section 402. APPLICATION OF TRUST MONEY.




     Subject to the provisions of the last paragraph of Section 1003, all money deposited with the
Trustee pursuant to Section 401 shall be held in trust and applied by it, in accordance with the
provisions of the Securities 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 any premium and interest for whose payment
such money has been deposited with the Trustee.



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ARTICLE FIVE




Remedies




Section 501. EVENTS OF DEFAULT.




     “Event of Default”, wherever used herein with respect to Securities of any series, means any
one of the following events (whatever the reason for such Event of Default and whether it shall be
voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or
order of any court or any order, rule or regulation of any administrative or governmental body)
unless (i) such event is specifically deleted or modified in or pursuant to the supplemental
indenture, Board Resolution or Officers’ Certificate establishing the terms of such series pursuant
to this Indenture and (ii) such modification or deletion is substantially consistent with this
Section 501:




     (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 deposit of any sinking fund payment, when and as due by the terms of
a Security of that series; or




     (4) default in the performance, or breach, of any covenant or warranty of the Company
in this Indenture (other than a covenant or warranty (i) for which the consequences of
breach or nonperformance are addressed (a) elsewhere in this Section 501 or (b) in such
Security or (ii) which has expressly been included in this Indenture solely for the benefit
of series of Securities other than that series), 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 25% in
principal amount of the Outstanding Securities of that 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; provided, however, that the Trustee, or the Trustee and the
Holders of such principal amount of Securities of such series, as the case may be, shall be
deemed to have agreed to an extension of such period if corrective action is initiated by
the Company within such period and is being diligently pursued; or




     (5) the entry by a court having jurisdiction in the premises of (A) a decree or order
for relief in respect of the Company in an involuntary case or proceeding under any
applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or
(B) a decree or order adjudging the Company a bankrupt or insolvent, or approving as
properly filed a petition seeking reorganization, arrangement, adjustment or composition of
or in respect of the Company under any applicable Federal or State law, or appointing a
custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official
of



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the Company or of any substantial part of its property, or ordering the winding up or
liquidation of its affairs, and the continuance of any such decree or order for relief or
any such other decree or order unstayed and in effect for a period of 60 consecutive days;
or




     (6) the commencement by the Company of a voluntary case or proceeding under any
applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or
of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by
it to the entry of a decree or order for relief in respect of the Company in an involuntary
case or proceeding under any applicable Federal or State bankruptcy, insolvency,
reorganization or other similar law or to the commencement of any bankruptcy or insolvency
case or proceeding against it, or the filing by it of a petition or answer or consent
seeking reorganization or relief under any applicable Federal or State law, or the consent
by it to the filing of such petition or to the appointment of or taking possession by a
custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official
of the Company or of any substantial part of its property, or the making by it of an
assignment for the benefit of creditors, or the admission by it in writing of its inability
to pay its debts generally as they become due, or the taking of corporate action by the
Company in furtherance of any such action; or




     (7) Any other Event of Default provided with respect to Securities of that series.



     Upon receipt by the Trustee of any Notice of Default from any Holder with respect to
Securities of a series all or part of which is represented by a Global Security, a record date
shall be established for determining Holders of Outstanding Securities of such series entitled to
join in
such Notice of Default, which record date shall be at the close of business on the day the
Trustee receives such Notice of Default. The Holders on such record date, or their duly designated
proxies, and only such Persons, shall be entitled to join in such Notice of Default, whether or not
such Holders remain Holders after such record date; PROVIDED, that unless Holders of at least 25%
in principal amount of the Outstanding Securities of such series, or their proxies, shall have
joined in such Notice of Default prior to the day which is 90 days after such record date, such
Notice of Default shall automatically and without further action by any Holder be canceled and of
no further effect. Nothing in this paragraph shall prevent a Holder, or a proxy of a Holder, from
giving (i) after expiration of such 90-day period, a new Notice of Default identical to a Notice of
Default which has been canceled pursuant to the proviso to the preceding sentence, or (ii) during
any such 90-day period, an additional Notice of Default with respect to any new or different fact
or circumstance permitting the giving of a Notice of Default with respect to Securities of such
series, in either of which events a new record date shall be established pursuant to the provisions
of this Section 501.



Section 502. ACCELERATION OF MATURITY; RESCISSION AND ANNULMENT.




     If an Event of Default with respect to Securities of any series at the time Outstanding occurs
and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in
principal amount of the Outstanding Securities of that series may declare the principal amount (or,
if any of the Securities of that series are Original Issue Discount Securities, such portion of the
principal amount of such Securities as may be specified in the terms thereof) of all



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of the
Securities of that series to be due and payable immediately, by a notice in writing to the Company
(and to the Trustee if given by Holders), and upon any such declaration such principal amount (or
specified amount) shall become immediately due and payable; provided that if an Event of Default
specified in Section 501(5) or 501(6) with respect to the Company occurs, the principal of,
premium, if any, and accrued and unpaid interest on all the Securities will become due and payable
without any declaration or other act on the part of the Trustee or any Holders.



     At any time after such a declaration of acceleration with respect to Securities of any series
has been made and before a judgment or decree for payment of the money due has been obtained by the
Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount (or
specified amount) of the Outstanding Securities of that 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 interest on all Securities of that series,




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




     (C) to the extent that payment of such interest is lawful, interest upon
overdue interest at the rate or rates prescribed therefor in such Securities, 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




     (2) all Events of Default with respect to Securities of that series, other than the
non-payment of the principal of Securities of that series which have become due solely by
such declaration of acceleration, have been cured or waived as provided in Section 513.


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




     Upon receipt by the Trustee of written notice declaring such an acceleration, or rescission
and annulment thereof, with respect to Securities of a series all or part of which is represented
by a Global Security, a record date shall be established for determining Holders of Outstanding
Securities of such series entitled to join in such notice, which record date shall be at the close
of business on the day the Trustee receives such notice. The Holders on such record date, or their
duly designated proxies, and only such Persons, shall be entitled to join in such notice, whether
or not such Holders remain Holders after such record date; PROVIDED, that unless such declaration
of acceleration, or rescission and annulment, as the case may be, shall have become effective by
virtue of the requisite percentage having joined in such notice prior to the day which



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is 90 days
after such record date, such notice of declaration of acceleration, or rescission and annulment, as
the case may be, shall automatically and without further action by any Holder be canceled and of no
further effect. Nothing in this paragraph shall prevent a Holder, or a proxy of a Holder, from
giving, (i) after expiration of such 90-day period, a new written notice of declaration of
acceleration or rescission and annulment thereof, as the case may be, that is identical to a
written notice which has been canceled pursuant to the proviso to the preceding sentence, or (ii)
during any such 90-day period, an additional written notice of declaration of acceleration with
respect to Securities of such series, or an additional written notice of rescission and annulment
of any declaration of acceleration with respect to any other Event of Default with respect to
Securities of such series, in either of which events a new record date shall be established
pursuant to the provisions of this Section 502.




			
	Section 503. COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY TRUSTEE.





     The Company covenants that if




     (1) default is made in the payment of any interest on any Security when such interest
becomes due and payable and such default continues for a period of 30 days, or




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


the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such
Securities, the whole amount then due and payable on such Securities for principal and any premium
and interest and, to the extent that payment of such interest shall be legally enforceable,
interest on any overdue principal and any premium and on any overdue interest, at the rate or rates
prescribed therefor in such Securities, 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.




     If the Company fails to pay the money it is required to pay the Trustee pursuant to the
preceding paragraph forthwith upon the demand of the Trustee, the Trustee, in its own name and as
trustee of an express trust, may institute a judicial proceeding for the collection of the money 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 such Securities and collect the monies 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 Securities of any series 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.



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Section 504. 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
Company (or any other obligor upon the Securities), its property or its creditors, the Trustee
shall be entitled and empowered, by intervention in such proceeding or otherwise, to take any and
all actions authorized under the Trust Indenture Act in order to have claims of the Holders and the
Trustee allowed in any such proceeding. In particular, the Trustee shall be authorized:




     (1) to file and prove a claim for the whole amount, or such lesser amount as may be
provided for in the Securities of such series, of the principal and any premium, and
interest owing and unpaid in respect of the Securities and to file such other papers or
documents as may be necessary or 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 or counsel) and of the Holders of allowed in such judicial
proceeding; and




     (2) to collect and receive any moneys or other property payable or deliverable on any
such claims and to distribute the same; and any custodian, receiver, assignee, trustee,
liquidator, sequestrator or other similar official in any such judicial proceeding is hereby
authorized by each Holder to make such payments to the Trustee and, in the event that the
Trustee shall consent to the making of such payments directly to the Holders, to pay to the
Trustee any amount due it for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and any other
amounts due the Trustee under Section 607.



     No provision of this Indenture shall be deemed to authorize the Trustee to authorize or
consent to or accept or adopt on behalf of any Holder 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 Holder in any such proceeding;
provided, however, that the Trustee may, on behalf of the Holders, vote for the election of a
trustee in bankruptcy or similar official and be a member of a creditors’ or other similar
committee.




			
	Section 505. TRUSTEE MAY ENFORCE CLAIMS WITHOUT POSSESSION OF SECURITIES.





     All rights of action and claims under this Indenture or the Securities may be prosecuted and
enforced by the Trustee without the possession of any of the Securities 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 agents and counsel, be for the ratable benefit of the Holders of the Securities in
respect of which such judgment has been recovered.



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Section 506. APPLICATION OF MONEY COLLECTED.




     Any money collected by the Trustee 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 any premium or interest, upon presentation of the Securities 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 607;




SECOND: To the payment of the amounts then due and unpaid for principal of and any
premium and interest on the Securities 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
any premium and interest, respectively; and




THIRD: The balance, if any, to the Person or Persons entitled thereto.



Section 507. 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 the Securities of that series;




     (2) the Holders of not less than a majority in principal amount of the Outstanding
Securities of that 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 reasonable indemnity 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 that series;


it being understood and intended that no one or more of such Holders 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 of such Holders, or to obtain or to seek to obtain priority or
preference over any other of such Holders or to enforce any right under this Indenture, except in
the manner herein provided and for the equal and ratable benefit of all of such Holders.





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	Section 508. UNCONDITIONAL RIGHT OF HOLDERS TO RECEIVE PRINCIPAL, PREMIUM AND INTEREST.





     Notwithstanding any other provision 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 any
premium and (subject to Section 307) any interest on such Security on the Stated Maturity or
Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date) and
to institute suit for the enforcement of any such payment, and such rights shall not be impaired
without the consent of such Holder.



Section 509. RESTORATION OF RIGHTS AND REMEDIES.




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



Section 510. RIGHTS AND REMEDIES CUMULATIVE.




     Except as otherwise provided with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities in the last paragraph of Section 306, no right or remedy
herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of
any other right or remedy, and every right and remedy shall, to the extent permitted by law, be
cumulative and in addition to every other right and remedy given hereunder or now or hereafter
existing at law or in equity or otherwise. The assertion or employment of any right or remedy
hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other
appropriate right or remedy.



Section 511. DELAY OR OMISSION NOT WAIVER.



     No delay or omission of the Trustee or of any Holder of any Securities to exercise any right
or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a
waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by
this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as
often as may be deemed expedient, by the Trustee or by the Holders, as the case may be.



Section 512. CONTROL BY HOLDERS.




     The Holders of a majority in aggregate 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:



-37-









 






     (1) such direction shall not be in conflict with any rule of law or with this Indenture
or with the Securities of any series;




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




     (3) the Trustee shall have the right to decline to follow any such direction if the
Trustee, being advised by counsel, shall determine that the action or proceeding so directed
may not lawfully be taken or if the Trustee in good faith by its board of directors, the
executive committee, or a trust committee of directors or responsible officers of the
Trustee shall determine that the action or proceedings so directed would involve the Trustee
in personal liability or if the Trustee in good faith shall so determine that the actions or
forebearances specified in or pursuant to such direction shall be unduly prejudicial to the
interests of holders of the Securities of the series not joining in the giving of said
direction, it being understood that (subject to Section 601) the Trustee shall have no duty
to ascertain whether or not such actions or forebearances are unduly prejudicial to such
holders.



     Upon receipt by the Trustee of any such direction with respect to Securities of a series all
or part of which is represented by a Global Security, the Trustee shall establish a record date for
determining Holders of Outstanding Securities of such series entitled to join in such direction,
which record date shall be at the close of business on the day the Trustee receives such direction.
The Holders on such record date, or their duly designated proxies, and only such Persons, shall be
entitled to join in such direction, whether or not such Holders remain Holders after such record
date; PROVIDED, that unless such majority in principal amount shall have been obtained prior to the
day which is 90 days after such record date, such direction shall automatically and without further
action by any Holder be canceled and of no further effect. Nothing in this paragraph shall prevent
a Holder, or a proxy of a Holder, from giving, (i) after expiration of such
90-day period, a new direction identical to a direction which has been canceled pursuant to
the provisions to the preceding sentence or (ii) during any such 90-day period, a new direction
contrary to or different from such direction, in either of which events a new record date shall be
established pursuant to the provisions of this Section 512.



Section 513. WAIVER OF PAST DEFAULTS.




     The Holders of not less than a majority in aggregate 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




     (1) in the payment of the principal of or any premium or interest on any Security of
such series, or




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



     The Company may, but shall not be obligated to, fix a record date for the purpose of
determining the Persons entitled to waive any past default hereunder. If a record date is fixed,



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the Holders on such record date, or their duly designated proxies, and only such Persons, shall be
entitled to waive any default hereunder, whether or not such Holders remain Holders after such
record date; PROVIDED, that unless such majority in principal amount shall have been obtained prior
to the date which is 90 days after such record date, any such waiver previously given shall
automatically and without further action by any Holder be canceled and of no further effect.



     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 514. 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 any
undertaking to pay the costs of such suit, and that such court may in its discretion assess
reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit
having due regard to the merits and good faith of the claims or defenses made by such party
litigant; but the provisions of this Section 514 shall not apply to any suit instituted by the
Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more
than 10% in principal amount of Outstanding Securities of any series, or to any suit instituted by
any Holder for the enforcement of the payment of the principal of (or premium, if any) or interest,
if any, on any Security on or after the respective Stated Maturities expressed in such Security
(or, in the case of redemption, on or after the Redemption Date, and, in the case of repayment, on
or after the Repayment Date) or for the enforcement of the right, if any, to convert or exchange
any Security into Capital Stock or other securities in accordance with its terms.



Section 515. 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 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 SIX




The Trustee 




Section 601. CERTAIN DUTIES AND RESPONSIBILITIES.



     The Trustee, prior to the occurrence of an Event of Default and after the curing or waiving of
all Events of Default that may have occurred, undertakes to perform such duties and only such
duties as are specifically set forth in this Indenture. In case an Event of Default has



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occurred
(which has not been cured or waived) the Trustee shall exercise such of the rights and powers
vested in it by this Indenture, and use the same degree of care and skill in its exercise, as a
prudent person would exercise or use under the circumstances in the conduct of his or her own
affairs.



     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) prior to the occurrence of an Event of Default and after the curing or waiving of
all such Events of Default that may have occurred:




     (A) the duties and obligations of the Trustee shall with respect to the
Securities be determined solely by the express provisions of this Indenture, and the
Trustee shall not be liable except for the performance of such duties and
obligations as are specifically set forth in this Indenture, and no implied
covenants or obligations shall be read into this Indenture against the Trustee; and




     (B) in the absence of bad faith on the part of the Trustee, the Trustee may
conclusively rely, as to the truth of the statements and the correctness of the
opinions expressed therein, upon any certificates or opinions furnished to the
Trustee and conforming to the requirements of this Indenture; but in the case of any
such certificates or opinions 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;




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




     (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 not less than a
majority in principal amount of the Securities of any series at the time Outstanding
relating to the time, method and place of conducting any proceeding for any remedy available
to the Trustee, or exercising any trust or power conferred upon the Trustee, under this
Indenture with respect to the Securities of such series.



     The duties and responsibilities of the Trustee shall be as provided by the Trust Indenture
Act. Notwithstanding the foregoing, no provision of this Indenture shall require the Trustee to
expend or risk its own funds or otherwise incur personal financial liability in the performance of
any of its duties hereunder or in the exercise of any of its rights or powers, if there shall be
reasonable ground for believing that the repayment of such funds or adequate indemnity against such
liability is not reasonably assured to it.



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Section 602. NOTICE OF DEFAULTS.




     If a default occurs hereunder with respect to Securities of any series, the Trustee shall give
the Holders of Securities of such series notice of such default as and to the extent provided by
the Trust Indenture Act; PROVIDED, HOWEVER, that in the case of any default of the character
specified in Section 501(4) with respect to Securities of such series, no such notice to Holders
shall be given until at least 30 days after the occurrence thereof. For the purpose of this
Section, the term “default” 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 603. CERTAIN RIGHTS OF TRUSTEE.




     Subject to Section 315(a) through 315(d) of the Trust Indenture Act and the provisions of
Section 601 hereof:



          (a) the Trustee may rely and shall be protected in acting or refraining from acting upon any
resolution, certificate, statement, instrument, opinion, report, notice, request, direction,
consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document
reasonably 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;




          (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 any Opinion
of Counsel shall be full and complete authorization and protection in respect of any action taken,
suffered or omitted by it hereunder in good faith and in reliance thereon;




          (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 Holders pursuant to this Indenture,
unless such Holders shall have offered to the Trustee reasonable security or indemnity 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, note, other evidence of indebtedness or other paper or document,
but the Trustee, in its discretion, may make such further inquiry or investigation into such facts
or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or
investigation, it shall be entitled to examine, during business hours



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and upon reasonable notice,
the books, records and premises of the Company, personally or by agent or attorney; and




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




Section 604. NOT RESPONSIBLE FOR RECITALS OR ISSUANCE OF SECURITIES.




     The recitals contained herein and in the Securities, except the Trustee’s certificates of
authentication, shall be taken as the statements of the Company, and the Trustee or any
Authenticating Agent assumes no responsibility for their correctness. The Trustee makes no
representations as to the validity or sufficiency of this Indenture or of the Securities, except
that the Trustee represents that it is duly authorized to execute and deliver this Indenture,
authenticate the Securities and perform its obligations hereunder and that the statements made by
it in a Statement of Eligibility on Form T-1 supplied to the Company are true and accurate, subject
to the qualifications set forth therein. Neither the Trustee nor Authenticating Agent shall be
accountable for the use or application by the Company of Securities or the proceeds thereof.



Section 605. MAY HOLD SECURITIES.




     The Trustee, any Authenticating Agent, any Paying Agent, any security Registrar or any other
agent of the Company or the Trustee, in its individual or any other capacity, may become the owner
or pledgee of Securities and, subject to Sections 608 and 613, may otherwise deal with the Company
with the same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent,
Security Registrar or such other agent.



Section 606. MONEY HELD IN TRUST.




     Money held by the Trustee in trust hereunder need not be segregated from other funds except to
the extent required by law. The Trustee shall be under no liability for interest on any money
received by it hereunder except as otherwise agreed with the Company.



Section 607. COMPENSATION AND REIMBURSEMENT.




     The Company agrees:




     (1) to pay to the Trustee from time to time such compensation as shall be agreed to in
writing between the Company and the Trustee for all services rendered by the Trustee
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),



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except any such
expense, disbursement or advance as may be attributable to the Trustee’s 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 this Indenture, 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.



     The Company’s payment obligations pursuant to this Section shall survive the discharge of this
Indenture. When the Trustee incurs expenses after the occurrence of an Event of Default specified
in Section 501(5) or (6) with respect to the Company, the expenses are intended to constitute
expenses of administration under the Bankruptcy Law.



Section 608. DISQUALIFICATION; CONFLICTING INTERESTS.




     If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust
Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the
manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture.
To the extent permitted by such Act, the Trustee shall not be deemed to have a conflicting interest
by virtue of being a trustee under this Indenture with respect to Securities of more than one
series.



Section 609. CORPORATE TRUSTEE REQUIRED; ELIGIBILITY.




     There shall at all times be a Trustee hereunder which shall be a Person that is eligible
pursuant to the Trust Indenture Act to act as such and has a combined capital and surplus of at
least $50,000,000 and subject to supervision or examination by Federal or state authority and its
Corporate Trust Office in the United States of America. If such Person 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 Person 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 the Trustee shall cease to be eligible in
accordance with the provisions of this Section, it shall resign immediately in the manner and with
the effect hereinafter specified in this Article.



Section 610. RESIGNATION AND REMOVAL; APPOINTMENT OF SUCCESSOR.




          (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 in accordance with the applicable requirements of Section 611.




          (b) The Trustee may resign at any time with respect to the Securities of one or more series by
giving written notice thereof to the Company. If the instrument of acceptance by a successor
Trustee required by Section 611 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



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court of competent
jurisdiction for the appointment of a successor Trustee with respect to the Securities of such
series.




          (c) The Trustee may be removed at any time with respect to the Securities of any series by Act
of the Holders of a majority in principal amount of the Outstanding Securities of such series,
delivered to the Trustee and to the Company.




          (d) If at any time:





     (1) the Trustee shall fail to comply with Section 608 after written
request therefor by the Company or by any Holder who has been a bona fide
Holder of a Security for at least six months, or




     (2) the Trustee shall cease to be eligible under Section 609 and shall
fail to resign after written request therefor by the Company or by any such
Holder, or




     (3) the Trustee shall become incapable of acting or 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 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 all Securities, or (ii) subject to Section 514, any Holder who has been a bona fide Holder of a
Security 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 with respect to all
Securities and the appointment of a successor Trustee or Trustees.




          (e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy
shall occur in the office of Trustee for any cause, with respect to the Securities of one or more
series, the Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees
with respect to the Securities of that or those series (it being understood that any such successor
Trustee may be appointed with respect to the Securities of one or more or all of such series and
that at any time there shall be only one Trustee with respect to the Securities of any particular
series) and shall comply with the applicable requirements of Section 611. If, within one year
after such resignation, removal or incapability, or the occurrence of such vacancy, a successor
Trustee with respect to the Securities of any series 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 in accordance with the applicable requirements of Section 611, become the
successor Trustee with respect to the Securities of such series and to that extent supersede the
successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities
of any series shall have been so appointed by the Company or the Holders and accepted appointment
in the manner required by Section 611, any Holder 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





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others similarly situated,
petition any court of competent jurisdiction for the appointment of a successor Trustee with
respect to the Securities of such series.




          (f) The Company shall give notice of each resignation and each removal of the Trustee with
respect to the Securities of any series and each appointment of a successor Trustee with respect to
the Securities of any series to all Holders of Securities of such series in the manner provided in
Section 106. Each notice shall include the name of the successor Trustee with respect to the
Securities of such series and the address of its Corporate Trust Office.




Section 611. ACCEPTANCE OF APPOINTMENT BY SUCCESSOR.




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




          (b) In case of the appointment hereunder of a successor Trustee with respect to the Securities
of one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee
with respect to the Securities of one or more series shall execute and deliver an indenture
supplemental hereto wherein each successor Trustee shall accept such appointment and which (1)
shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to
vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee
with respect to the Securities of that or those series to which the appointment of such successor
Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall
contain such provisions as shall be deemed necessary or desirable to confirm that all the rights,
powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those
series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring
Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall be
necessary to provide for or facilitate the administration of the trusts hereunder by more than one
Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute
such Trustees cotrustees 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; and upon the execution and delivery of such supplemental indenture the resignation or
removal of the retiring Trustee shall become effective to the extent provided therein and each such
successor Trustee, without any further act, deed or conveyance, shall become vested with all the
rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or
those series to which the appointment of such successor Trustee relates; but, on request of the
Company or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to
such successor Trustee all property and money held by such retiring Trustee hereunder with respect
to the Securities of that or those series to which the appointment of such successor Trustee
relates.





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




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




Section 612. 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 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 613. PREFERENTIAL COLLECTION OF CLAIMS AGAINST COMPANY.




     If and when the Trustee shall be or become a creditor of the Company (or any other obligor
upon the Securities), the Trustee shall be subject to the provisions of the Trust Indenture Act
regarding the collection of claims against the Company (or any such other obligor).



Section 614. APPOINTMENT OF AUTHENTICATING AGENT.




     The Trustee 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 issue and upon exchange, registration of transfer or partial
redemption thereof or pursuant to Section 306, and Securities so authenticated shall be entitled to
the benefits of this Indenture and shall be valid and obligatory for all purposes as if
authenticated by the Trustee hereunder. 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 Authenticating Agent, having a combined capital and surplus of not less than $50,000,000
(unless it is an Affiliate of the Trustee) and 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



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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 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 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 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 Trustee agrees to pay to each Authenticating Agent from time to time reasonable
compensation for its services under this Section, and the Trustee shall be entitled to be
reimbursed for such payments, subject to the provisions of Section 607.



     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 herein and referred to in the
within-mentioned Indenture.



	 	 	 	 	 
	 	          As Trustee

 	 
	 	By:  	 	 
	 	 	As Authenticating Agent 	 
	 
	 	By:  	
 	 
	 	 	Authorized Officer 	 
	 	 	 	 
	 



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     If all of the Securities of any series may not be originally issued at one time, and if the
Trustee does not have an office capable of authenticating Securities upon original issuance located
in a Place of Payment where the Company wishes to have Securities of such series authenticated upon
original issuance, the Trustee, if so requested in writing (which writing need not be accompanied
by or contained in an Officers’ Certificate by the Company), shall appoint in
accordance with this Section and such procedures as shall be acceptable to the Trustee an
Authenticating Agent having an office in a Place of Payment designated by the Company with respect
to such series of Securities.



ARTICLE SEVEN




Holders’ Lists and Reports by Trustee and Company 





			
	Section 701. COMPANY TO FURNISH TRUSTEE NAMES AND ADDRESSES OF HOLDERS.





     In accordance with Section 312(a) of the Trust Indenture Act, the Company will furnish or
cause to be furnished to the Trustee:



          (a) semi-annually, not later than January 15 and July 15 in each year, a list, in such form as
the Trustee may reasonably require, of the names and addresses of the Holders as of the preceding
January 1 or July 1, as the case may be; provided, however, that so long as the Trustee is the
Security Registrar no such list shall be required to be furnished; and




          (b) 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 so long as the
Trustee is the Security Registrar no such list shall be required to be furnished.




Section 702. PRESERVATION OF INFORMATION; COMMUNICATIONS TO HOLDERS.




          (a) The Trustee shall comply with the obligations imposed upon it pursuant to Section 312 of
the Trust Indenture Act. The Trustee shall preserve, in as current a form as is reasonably
practicable, the names and addresses of Holders contained in the most recent list furnished to the
Trustee as provided in Section 701 and the names and addresses of Holders received by the Trustee
in its capacity as Security Registrar. The Trustee may destroy any list furnished to it as
provided in Section 701 upon receipt of a new list so furnished.




          (b) The rights of the Holders to communicate with other Holders with respect to their rights
under this Indenture or under the Securities, and the corresponding rights and privileges of the
Trustee, shall be as provided by the Trust Indenture Act.





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          (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 nor any agent of either of them shall be held
accountable by reason of any disclosure of information as to names and addresses of Holders made
pursuant to the Trust Indenture Act.




Section 703. REPORTS BY TRUSTEE.





     (1) Within 60 days after July 15 of each year commencing with the first July 15
following the first issuance of Securities pursuant to Section 301, if required by
Section 313(a) of the Trust Indenture Act, the Trustee shall transmit, pursuant to
Section 313(c) of the Trust Indenture Act, a brief report dated as of such July 15 with
respect to any of the events specified in said Section 313(a) which may have occurred since
the later of the immediately preceding July 15 and the date of this Indenture.




     (2) The Trustee shall transmit the reports required by Section 313(a) of the Trust
Indenture Act at the times specified therein.




     (3) Reports pursuant to this Section shall be transmitted in the manner and to the
Persons required by Sections 313(c) and 313(d) of the Trust Indenture Act. The Company will
notify the Trustee when any Securities are listed on any stock exchange.




     (4) The Trustee shall transmit the reports required by Section 313(b) of the Trust
Indenture Act at the times specified therein.



Section 704. REPORTS BY COMPANY.




     The Company, pursuant to Section 314(a) of the Trust Indenture Act, shall:




     (1) file with the Trustee, within 15 days after the Company is required to file the
same with the Commission, copies of the annual reports and of the information, documents and
other reports (or copies of such portions of any of the foregoing as the Commission may from
time to time by rules and regulations prescribe) which the Company may be required to file
with the Commission pursuant to Section 13 or Section 15(d) of the Securities Exchange Act
of 1934; or, if the Company is not required to file information, documents or reports
pursuant to either of said Sections, then it shall file with the Trustee and the Commission,
in accordance with rules and regulations prescribed from time to time by the Commission,
such of the supplementary and periodic information, documents and reports which may be
required pursuant to Section 13 of the Securities Exchange Act of 1934 in respect of a
security listed and registered on a national securities exchange as may be prescribed from
time to time in such rules and regulations;




     (2) file with the Trustee and the Commission, in accordance with rules and regulations
prescribed from time to time by the Commission, such additional information, documents and
reports with respect to compliance by the Company, with the conditions and covenants of this
Indenture as may be required from time to time by such rules and regulations; and



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     (3) transmit within 30 days after the filing thereof with the Trustee, in the manner
and to the extent provided in Section 313(c) of the Trust Indenture Act, such summaries of
any information, documents and reports required to be filed by the Company pursuant to
paragraphs (1) and (2) of this Section as may be required by rules and regulations
prescribed from time to time by the Commission.



ARTICLE EIGHT




Consolidation, Merger, Conveyance, Transfer or Lease 




Section 801. COMPANY MAY CONSOLIDATE, ETC., ONLY ON CERTAIN TERMS.




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




     (1) in case the Company shall consolidate with or merge into another Person or convey,
transfer or lease its properties and assets substantially as an entirety to any Person, the
Person formed by such consolidation or into which the Company is merged or the Person which
acquires by conveyance or transfer, or which leases, the properties and assets of the
Company substantially as an entirety shall be a corporation, partnership or trust, shall be
organized and validly existing under the laws of the United States of America, any State
thereof or the District of Columbia and shall expressly assume, by an indenture supplemental
hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due
and punctual payment of the principal of and any premium and interest on and any sinking
fund payment in respect of, all the Securities and the performance or observance of every
covenant of this Indenture on the part of the Company to be performed or observed;




     (2) immediately after giving effect to such transaction and treating any indebtedness
which becomes an obligation of the Company or a Subsidiary as a result of such transaction
as having been incurred by the Company or such Subsidiary at the time of 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;




     (3) if, as a result of any such consolidation or merger, conveyance, transfer or lease,
properties or assets of the Company or of a Subsidiary would become subject to a Mortgage,
the Company or such successor Person, as the case may be, shall take steps as shall be
necessary effectively to secure the Securities equally and ratably with (or prior to) all
indebtedness secured thereby; and




     (4) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and, if
a supplemental indenture is required in connection with such transaction,



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such supplemental
indenture comply with this Article and that all conditions precedent herein provided for
relating to such transaction have been complied with.



Section 802. SUCCESSOR PERSON SUBSTITUTED.




     Upon any consolidation of the Company with or merger of the Company into any other Person or
any conveyance, transfer or lease of the properties and assets of the Company substantially as an
entirety in accordance with Section 801, the successor Person formed by such consolidation or into
which the Company is merged or to which such conveyance, transfer or
lease 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 Person had been
named as the Company herein, and thereafter, except in the case of a lease, the predecessor Person
shall be relieved of all obligations and covenants under this Indenture and the Securities.



ARTICLE NINE




Supplemental Indentures 




Section 901. SUPPLEMENTAL INDENTURES WITHOUT CONSENT OF HOLDERS.




     Without the consent of any Holders, 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 satisfactory to the Trustee, for any of the following purposes:




     (1) to evidence the succession of another Person to the Company and the assumption by
any such successor of the covenants of the Company herein and in the Securities; or




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




     (3) to add any additional Events of Default with respect to all or any series of
Securities (as shall be specified in such supplemental indenture); or




     (4) to add to or change any of the provisions of this Indenture to such extent as shall
be necessary to permit or facilitate the issuance of Securities in bearer form, registrable
or not registrable as to principal, and with or without interest coupons, or to permit or
facilitate the issuance of Securities in uncertificated form; or




     (5) to add to, change or eliminate any of the provisions of this Indenture in respect
of one or more series of Securities, PROVIDED that any such addition, change or elimination
(i) shall neither (A) apply to any Security of any series created prior to the execution of
such supplemental indenture and entitled to the benefit of such provision nor




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(B) modify the rights of the Holder of any such Security with respect to such provision or
(ii) shall become effective only when there is no such Security Outstanding; or




     (6) to establish the form or terms of Securities of any series as permitted by Sections
201 and 301; or




     (7) to evidence and provide for the acceptance of appointment hereunder by a successor
Trustee with respect to the Securities of one or more series and to add to or change any of
the provisions of this Indenture as shall be necessary to provide for or facilitate the
administration of the trusts hereunder by more than one Trustee, pursuant to the
requirements of Section 611(b); or




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




     (9) to supplement any of the provisions of this Indenture to such extent as shall be
necessary to permit or facilitate the defeasance and discharge of any series of Securities
pursuant to Article Four, provided that any such action shall not adversely affect the
interests of any Holder of a Security of such series or any other Security in any material
respect; or




     (10) to make provisions with respect to conversion or exchange rights of Holders of
Securities of any series;




     (11) to add Guarantees with respect to the Securities or to secure the Securities; or




     (12) 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, PROVIDED, that such action pursuant to
this clause (11) shall not adversely affect the interests of the Holders of Securities of
any series in any material respect.



Section 902. SUPPLEMENTAL INDENTURES WITH CONSENT OF HOLDERS.




     With the consent of the Holders of not less than majority in principal amount of the
Outstanding Securities of each series affected by such supplemental indenture, by Act of said
Holders delivered to the Company and the Trustee, 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 Securities of 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 Stated Maturity of the principal of, or any installment of principal of
or interest on, any Security, or reduce the principal amount thereof or the rate of interest
thereon or any premium payable upon the redemption thereof, or reduce the



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amount of the principal of an Original Issue Discount Security that would be due and
payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502,
or change any Place of Payment where, or the coin, currency or currency unit in which, any
Security or any premium or any interest thereon is payable, or impair the right to institute
suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in
the case of redemption, on or after the Redemption Date); or




     (2) reduce the percentage in principal amount of the Outstanding Securities of any
series, the consent of whose Holders is required for any such supplemental indenture, or the
consent of whose Holders is required for any waiver (of compliance with certain provisions
of this Indenture or certain defaults hereunder and their consequences) provided for in this
Indenture or reduce the requirements of Section 1504 for quorum or voting; or




     (3) modify any of the provisions of this Section, Section 513 or Section 1010, except
to increase any such percentage or to provide that certain other provisions of this
Indenture cannot be modified or waived without the consent of the Holder of each Outstanding
Security affected thereby, PROVIDED HOWEVER, that this clause shall not be deemed to require
the consent of any Holder with respect to changes in the references to “the Trustee” and
concomitant changes in this Section and Section 1010, or the deletion of this proviso, in
accordance with the requirements of Sections 611(b) and 901(8).


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




     The Company may, but shall not be obligated to, fix a record date for the purpose of
determining the Persons entitled to consent to any indenture supplemental hereto. If a record date
is fixed, the Holders on such record date, or their duly designated proxies, and only such Persons,
shall be entitled to consent to such supplemental indenture, whether or not such Holders remain
Holders after such record date; PROVIDED, that unless such consent shall have become effective by
virtue of the requisite percentage having been obtained prior to the date which is 90 days after
such record date, any such consent previously given shall automatically and without further action
by any Holder be canceled and of no further effect.



     It shall not be necessary for any Act of Holders 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 903. 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 601) shall be fully protected in



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relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture
is authorized or permitted by this Indenture. The Trustee may, but shall not (except to the extent
required in the case of a supplemental indenture entered into under Section 901(7)) 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 904. 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.



Section 905. CONFORMITY WITH TRUST INDENTURE ACT.




     Every supplemental indenture executed pursuant to this Article shall conform to the
requirements of the Trust Indenture Act.



Section 906. 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 of any series so modified as to conform, in the opinion
of the Trustee and the Company, 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
of such series.



ARTICLE TEN




Covenants 




Section 1001. PAYMENT OF PRINCIPAL, PREMIUM AND INTEREST.




     The Company covenants and agrees for the benefit of the Holders of each series of Securities
that it will duly and punctually pay the principal of and any premium and interest on the
Securities of that series in accordance with the terms of the Securities and this Indenture.



Section 1002. MAINTENANCE OF OFFICE OR AGENCY.




     The Company will maintain in each Place of Payment for any series of Securities an office or
agency where Securities of that series may be presented or surrendered for payment, where
Securities of that series may be surrendered for registration of transfer or exchange, where
Securities of such series that are convertible or exchangeable may be surrendered for conversion or
exchange, and where notices and demands to or upon the Company in respect of the Securities of that
series and this Indenture may be served. The Company will give prompt written notice to the
Trustee of the location, and any change in the location, of such office or agency. If at any time
the Company shall fail to maintain any such required office or agency or shall fail to furnish



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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 as its agent to receive all such presentations, surrenders, notices and demands.



     The Company may also from time to time designate one or more other offices or agencies where
the Securities of one or more series may be presented or surrendered for any or all such purposes
and may from time to time rescind such designations; PROVIDED, HOWEVER, that no such designation or
rescission shall in any manner relieve the Company of its obligation to maintain an office or
agency in each Place of Payment for Securities of any series for such purposes. The Company will
give prompt written notice to the Trustee of any such designation or rescission and of any change
in the location of any such other office or agency.



Section 1003. MONEY FOR SECURITIES PAYMENTS TO BE HELD IN TRUST.




     If the Company shall at any time act as its own Paying Agent with respect to any series of
Securities, it will, on or before each due date of the principal of and any premium or interest on
any of the Securities of that series, segregate and hold in trust for the benefit of the Persons
entitled thereto a sum sufficient to pay the principal and any premium 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 so to act.



     Whenever the Company shall have one or more Paying Agents for any series of Securities, it
will, prior to each due date of the principal of and any premium or interest on any Securities of
that series, deposit with a Paying Agent a sum sufficient to pay such amount, such sum to be held
as provided by the Trust Indenture Act, 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 for any series of Securities other than the Trustee
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 (i) comply with the
provisions of the Trust Indenture Act applicable to it as a Paying Agent and (ii) during the
continuance of any default by the Company (or any other obligor upon the Securities of that series)
in the making of any payment in respect of the Securities of that series, and upon the written
request of the Trustee, forthwith pay to the Trustee all sums held in trust by such Paying Agent
for payment in respect of the Securities of that series.



     The Company may at any time, for the purpose of obtaining the satisfaction and discharge of
this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay,
to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by
the Trustee upon the same 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 any premium or interest on any Security of any series
and remaining unclaimed for two years after such principal (and premium,



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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; PROVIDED,
HOWEVER, that the Trustee or such Paying Agent, before being required to make any such repayment,
may at the expense of the Company cause to be published once, in an Authorized Newspaper, notice
that such money remains unclaimed and that, after a date specified therein, which shall not be less
than 30 days from the date of such publication or mailing nor shall it be later than two years
after such principal and any premium or interest shall have become due and payable, any unclaimed
balance of such money then remaining will be repaid to the Company.



Section 1004. STATEMENT BY OFFICERS AS TO DEFAULT.




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



Section 1005. EXISTENCE.




     Subject to Article Eight, the Company will do or cause to be done all things necessary to
maintain its existence and its rights and franchises; PROVIDED, however, that the Company shall not
be required to preserve any such right or franchise if the Board of Directors shall determine that
the preservation thereof is no longer desirable in the conduct of the business of the Company and
that the loss thereof is not disadvantageous in any material respect to the Holders.



Section 1006. WAIVER OF CERTAIN COVENANTS.




     The Company may omit in any particular instance to comply with any term, provision or
condition set forth in Section 1005, with respect to the Securities of any series if before the
time for such compliance the Holders of at least a majority in principal amount of the Outstanding
Securities of such series shall, by Act of such Holders, either waive such compliance in such
instance or generally waive compliance with such term, provision or condition, but no such waiver
shall extend to or affect such term, provision 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 term, provision or condition shall remain in full
force and effect.



     The Company may, but shall not be obligated to, fix a record date for the purpose of
determining the Persons entitled to waive any such term, provision or condition. If a record date
is fixed, the Holders on such record date, or their duly designated proxies, and only such Persons,
shall be entitled to waive any such term, provision or condition hereunder, whether or not such



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Holders remain Holders after such record date; PROVIDED, that unless the Holders of at least a
majority in principal amount of the Outstanding Securities of such series shall have waived such
term, provision or condition prior to the date which is 90 days after such record date, any such
waiver previously given shall automatically and without further action by any Holder be canceled
and of no further effect.



ARTICLE ELEVEN




Redemption of Securities 




Section 1101. APPLICABILITY OF ARTICLE.




     Securities of any series which are redeemable before their Stated Maturity shall be redeemable
in accordance with their terms and (except as otherwise specified as contemplated by Section 301
for Securities of any series) in accordance with this Article.



Section 1102. ELECTION TO REDEEM; NOTICE TO TRUSTEE.




     The election of the Company to redeem any Securities shall be evidenced by a Board Resolution.
In case of any redemption at the election of the Company of less than all the Securities of any
series, the Company shall, at least 60 days prior to the Redemption Date fixed by the Company
(unless a shorter notice shall be satisfactory to the Trustee in its sole discretion), notify the
Trustee of such Redemption Date and of the principal amount of Securities of such series to be
redeemed and, if applicable, of the tenor of the Securities to be redeemed. In the case of any
redemption of Securities prior to the expiration of any restriction on such redemption provided in
the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee
with an Officers’ Certificate evidencing compliance with such restriction.



Section 1103. SELECTION BY TRUSTEE OF SECURITIES TO BE REDEEMED.




     If less than all the Securities of any series are to be redeemed (unless all of the Securities
of such series and of a specified tenor are to be redeemed) the particular Securities to be
redeemed shall be selected not more than 60 nor less than 30 days prior to the Redemption Date by
the Trustee, from the Outstanding Securities of such series not previously called for redemption,
by such method as the Trustee shall deem fair and appropriate and which may provide for the
selection for redemption of portions (equal to the minimum authorized denomination for Securities
of that series or any integral multiple thereof) of the principal amount of Securities of such
series of a denomination larger than the minimum authorized denomination for Securities of that
series. If less than all of the Securities of such series and of a specified tenor are to be
redeemed, the particular Securities to be redeemed shall be selected not more than 60 nor less than
30 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series
and specified tenor not previously called for redemption in accordance with the preceding sentence.



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



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



     Unless otherwise specified in or pursuant to this Indenture or the Securities of any series,
if any Security selected for partial redemption is converted or exchanged for Capital Stock or
other securities in part before termination of the conversion or exchange right with respect to the
portion of the Security so selected, the converted or exchanged portion of such Security shall be
deemed (so far as may be) to be the portion selected for redemption. Securities which have been
converted or exchanged during a selection of Securities to be redeemed shall be treated by the
Trustee as Outstanding for the purpose of such selection.



Section 1104. NOTICE OF REDEMPTION.




     Notice of redemption shall be given in the manner provided in Section 106, mailed not less
than 30 nor more than 60 days prior to the Redemption Date, unless a shorter period is specified in
the Securities to be redeemed, to the Holders of the Securities to be redeemed. Failure to give
notice by mailing in the manner herein provided to the Holder of any Securities designated for
redemption as a whole or in part, or any defect in the notice to any such Holder, shall not affect
the validity of the proceedings for the redemption of any other Securities or portion thereof. Any
notice that is mailed to the Holder of any Securities in the manner herein provided shall be
conclusively presumed to have been duly given, whether or not such Holder receives the notice.



     All notices of redemption shall state:




     (1) the Redemption Date;




     (2) the Redemption Price (and interest, if any);




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




     (4) that on the Redemption Date the Redemption Price (and interest, if any) will become
due and payable upon each such Security or portion thereof to be redeemed and, if
applicable, that interest thereon will cease to accrue on and after said date;




     (5) the place or places where such Securities are to be surrendered for payment of the
Redemption Price (and interest, if any); and




     (6) that the redemption is for a sinking fund, if such is the case;




     (7) in the case of Securities of any series that are convertible or exchangeable into
Capital Stock or other securities, the conversion or exchange price or rate, the date or
dates on which the right to convert or exchange the principal of the Securities of such



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series to be redeemed will commence or terminate and the place or places where such
Securities may be surrendered for conversion or exchange, and




     (8) the CUSIP number or the Euroclear or the Cedel reference numbers of such
Securities, if any (or any other numbers used by a Depositary to identify such Securities).



     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.



     Unless otherwise specified with respect to any Securities in accordance with Section 301, with
respect to any redemption of Securities at the election of the Company, unless, upon the giving of
notice of such redemption, defeasance shall have been effected with respect to such Securities
pursuant to Section 401, such notice may state that such redemption shall be conditional upon the
receipt by the Trustee or the Paying Agent(s) for such Securities, on or prior to the date fixed
for such redemption, of money sufficient to pay the principal of and any premium and interest on
such Securities and that if such money shall not have been so received such notice shall be of no
force or effect and the Company shall not be required to redeem such Securities. In the event that
such notice of redemption contains such a condition and such money is not so received, the
redemption shall not be made and within a reasonable time thereafter notice shall be given, in the
manner in which the notice of redemption was given, that such money was not so received and such
redemption was not required to be made, and the Trustee or Paying Agent(s) for the Securities
otherwise to have been redeemed shall promptly return to the Holders thereof any of such Securities
which had been surrendered for payment upon such redemption.



Section 1105. DEPOSIT OF REDEMPTION PRICE.




     Prior to any Redemption Date, 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 1003) an amount of money sufficient to pay the Redemption Price of, and (except
if the Redemption Date shall be an Interest Payment Date) accrued interest on, all the Securities
which are to be redeemed on that date.



Section 1106. SECURITIES PAYABLE ON REDEMPTION DATE.




     Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall,
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 and
accrued interest) such Securities shall cease to bear interest. Upon surrender of any such
Security for redemption in accordance with said notice, such Security shall be paid by the Company
at the Redemption Price, together with accrued interest to the Redemption Date; PROVIDED, HOWEVER,
that, unless otherwise specified as contemplated by Section 301, installments of interest whose
Stated Maturity is on or prior to the Redemption Date will be payable to the Holders of such
Securities, or one or more Predecessor Securities,



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registered as such at the close of business on the relevant Record Dates according to their
terms and the provisions of Section 307.



     If any Security called for redemption shall not be so paid upon surrender thereof for
redemption, the principal and any premium shall, until paid, bear interest from the Redemption Date
at the rate prescribed therefor in the Security.



Section 1107. SECURITIES REDEEMED IN PART.




     Any Security which is to be redeemed only in part shall be surrendered at a Place of Payment
therefor (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 of like tenor, 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. If a Security in global form is so
surrendered, the Company shall execute, and the Trustee shall authenticate and deliver to the
Depositary for such Security in global form as shall be specified in the Company Order with respect
thereto to the Trustee, without service charge, a new Security in global form in a denomination
equal to and in exchange for the unredeemed portion of the principal of the Security in global form
so surrendered.



ARTICLE TWELVE




Sinking Funds




Section 1201. APPLICABILITY OF ARTICLE.




     The provisions of this Article shall be applicable to any sinking fund for the retirement of
Securities of a series except as otherwise specified as contemplated by Section 301 for Securities
of such series.



     The minimum amount of any sinking fund payment provided for by the terms of Securities of any
series is herein referred to as a “mandatory sinking fund payment”, and any payment in excess of
such minimum amount provided for by the terms of Securities of any series is herein referred to as
an “optional sinking fund payment”. If provided for by the terms of Securities of any series, the
cash amount of any sinking fund payment may be subject to reduction as provided in Section 1202.
Each sinking fund payment shall be applied to the redemption of Securities of any series as
provided for by the terms of Securities of such series.



Section 1202. SATISFACTION OF SINKING FUND PAYMENTS WITH SECURITIES.




     The Company (1) may deliver Outstanding Securities of a series (other than any previously
called for redemption) and (2) may apply as a credit Securities of a series which have been
redeemed either at the election of the Company pursuant to the terms of such Securities or through
the application of permitted optional sinking fund payments pursuant to the terms of such
Securities, in each case in satisfaction of all or any part of any sinking fund payment with



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respect to the Securities of such series required to be made pursuant to the terms of such
Securities as provided for by the terms of such series; PROVIDED that such Securities have not been
previously so credited. Such Securities shall be received and credited for such purpose by the
Trustee at the Redemption Price specified in such Securities for redemption through operation of
the sinking fund and the amount of such sinking fund payment shall be reduced accordingly. If as a
result of the delivery or credit of Securities of any series in lieu of cash payments pursuant to
this Section 1202, the principal amount of Securities of such series to be redeemed in order to
exhaust the aforesaid cash payment shall be less than $100,000, the Trustee need not call
Securities of such series for redemption, except upon Company Request, and such cash payment shall
be held by the Trustee or a Paying Agent and applied to the next succeeding sinking fund payment,
provided, however, that the Trustee or such Paying Agent shall at the request of the Company from
time to time pay over and deliver to the Company any cash payment so being held by the Trustee or
such Paying Agent upon delivery by the Company to the Trustee of Securities of that series
purchased by the Company having an unpaid principal amount equal to the cash payment requested to
be released to the Company.



Section 1203. REDEMPTION OF SECURITIES FOR SINKING FUND.




     Not less than 90 days prior to each sinking fund payment date for any series of Securities,
the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next
ensuing sinking fund payment for that series pursuant to the terms of that series, the portion
thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which
is to be satisfied by delivering and crediting Securities of that series pursuant to Section 1202
and will also deliver to the Trustee any Securities to be so delivered. Not less than 60 days
before each such sinking fund payment date the Trustee shall select the Securities to be redeemed
upon such sinking fund payment date in the manner specified in Section 1103 and cause notice of the
redemption thereof to be given in the name of and at the expense of the Company in the manner
provided in Section 1104. Such notice having been duly given, the redemption of such Securities
shall be made upon the terms and in the manner stated in Sections 1105, 1106 and 1107.



ARTICLE THIRTEEN




Defeasance and Covenant Defeasance




Section 1301. APPLICABILITY OF ARTICLE; COMPANY’S OPTION TO EFFECT DEFEASANCE OR COVENANT DEFEASANCE.




     If pursuant to Section 301 provision is made for either or both of (a) defeasance of the
Securities of a series under Section 1302 or (b) covenant defeasance of the Securities of a series
under Section 1303, then the provisions of such Section or Sections, as the case may be, together
with the other provisions of this Article Thirteen, shall be applicable to the Securities of such
series, and the Company may at its option by Board Resolution, at any time, with respect to the
Securities of such series, elect to have either Section 1302 (if applicable) or Section 1303 (if
applicable) be applied to the Outstanding Securities of such series upon compliance with the
conditions set forth below in this Article Thirteen.



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Section 1302. DEFEASANCE AND DISCHARGE.




     Upon the Company’s exercise of the above option applicable to this Section, the Company shall
be deemed to have been discharged from its obligations with respect to the Outstanding Securities
of such series on and after the date the conditions precedent set forth below are satisfied
(hereinafter, “defeasance”). For this purpose, such defeasance means that the Company shall be
deemed to have paid and discharged the entire indebtedness represented by the Outstanding
Securities of such series and to have satisfied all its other obligations under such Securities and
this Indenture insofar as such Securities are concerned (and the Trustee, at the expense of the
Company, shall execute proper instruments acknowledging the same), except for the following which
shall survive until otherwise terminated or discharged hereunder: (A) the rights of Holders of
Outstanding Securities of such series to receive, solely from the trust fund described in Section
1304 as more fully set forth in such Section, payments of the principal of (and premium, if any)
and interest on such Securities when such payments are due and any rights of such Holders to
convert or exchange such Securities into Capital Stock or other securities, (B) the Company’s
obligations with respect to such Securities under Sections 304, 305, 306, 1002 and 1003 and such
obligations as shall be ancillary thereto, (C) the rights, powers, trusts, duties, immunities and
other provisions in respect of the Trustee hereunder and (D) this Article Thirteen. Subject to
compliance with this Article Thirteen, the Company may exercise its option under this Section 1302
notwithstanding the prior exercise of its option under Section 1303 with respect to the Securities
of such series.



Section 1303. COVENANT DEFEASANCE.




     Upon the Company’s exercise of the above option applicable to this Section, the Company shall
be released from its obligations under Section 801 (and any covenant applicable to such Securities
that are determined pursuant to Section 301 to be subject to this provision) and the occurrence of
an event specified in Section 501(4) (with respect to any of Section 801) (and any other Event of
Default applicable to such Securities that are determined pursuant to Section 301 to be subject to
this provision) shall not be deemed to be an Event of Default with respect to the Outstanding
Securities of such series after the date the conditions set forth below are satisfied (hereinafter,
“covenant defeasance”). For this purpose, such covenant defeasance means that, with respect to the
Outstanding Securities of such series, the Company may omit to comply with and shall have no
liability in respect of any term, condition or limitation set forth in any such Section or Clause
whether directly or indirectly by reason of any reference elsewhere herein to any such Section or
Clause or by reason of any reference in any such Section or Clause to any other provision herein or
in any other document, but the remainder of this Indenture and such Securities shall be unaffected
thereby.



Section 1304. CONDITIONS TO DEFEASANCE OR COVENANT DEFEASANCE.




     The following shall be the conditions precedent to application of either Section 1302 or
Section 1303 to the Outstanding Securities of such series:




     (1) The Company shall irrevocably have deposited or caused to be deposited with the
Trustee (or another trustee satisfying the requirements of Section 609 who shall agree to
comply with the provisions of this Article Thirteen applicable to it) as trust funds



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in trust for the purpose of making the following payments, specifically pledged as
security for, and dedicated solely to, the benefit of the Holders of such Securities, (A)
money in an amount, or (B) U.S. Government Obligations which through the scheduled payment
of principal and interest in respect thereof in accordance with their terms will provide,
not later than one day before the due date of any payment, money in an amount, or (C) a
combination thereof, sufficient, without reinvestment, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification
thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the
Trustee (or other qualifying trustee) to pay and discharge, the principal of (and premium,
if any) and interest on the Outstanding Securities of such series on the Maturity of such
principal, premium, if any, or interest. Before such a deposit the Company may make
arrangements satisfactory to the Trustee for the redemption of Securities at a future date
or dates in accordance with Article Eleven, which shall be given effect in applying the
foregoing. For this purpose, “U.S. Government Obligations” means securities that are (x)
direct obligations of the United States of America for the payment of which its full faith
and credit is pledged or (y) obligations of a Person controlled or supervised by and acting
as an agency or instrumentality of the United States of America the payment of which is
unconditionally guaranteed as a full faith and credit obligation by the United States of
America, which, in either case, are not callable or redeemable at the option of the issuer
thereof, and shall also include a Depositary receipt issued by a bank (as defined in Section
3(a)(2) of the Securities Act of 1933, as amended) as custodian with respect to any such
U.S. Government Obligation or a specific payment of principal of or interest on any such
U.S. Government Obligation held by such custodian for the account of the holder of such
Depositary receipt, provided that (except as required by law) such custodian is not
authorized to make any deduction from the amount payable to the holder of such Depositary
receipt from any amount received by the custodian in respect of the U.S. Government
Obligation or the specific payment of principal of or interest on the U.S. Government
Obligation evidenced by such Depositary receipt.




     (2) No Event of Default or event which with notice or lapse of time or both would
become an Event of Default with respect to the Securities of such series shall have occurred
and be continuing (A) on the date of such deposit or (B) insofar as subsections 501(6) and
(7) are concerned, at any time during the period ending on the 121st day after the date of
such deposit or, if longer, ending on the day following the expiration of the longest
preference period applicable to the Company in respect of such deposit (it being understood
that the condition in this condition shall not be deemed satisfied until the expiration of
such period).




     (3) Such defeasance or covenant defeasance shall not (A) cause the Trustee for the
Securities of such series to have a conflicting interest as defined in Section 608 or for
purposes of the Trust Indenture Act with respect to any securities of the Company or (B)
result in the trust arising from such deposit to constitute, unless it is qualified as, a
regulated investment company under the Investment Company Act of 1940, as amended.



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     (4) Such defeasance or covenant defeasance shall not result in a breach or violation
of, or constitute a default under, this Indenture or any other agreement or instrument to
which the Company is a party or by which it is bound.




     (5) In the case of an election under Section 1303, the Company shall have delivered to
the Trustee an Opinion of Counsel to the effect that the Holders of the Outstanding
Securities of such series will not recognize income, gain or loss for Federal income tax
purposes as a result of such covenant defeasance and will be subject to Federal income tax
on the same amounts, in the same manner and at the same times as would have been the case if
such covenant defeasance had not occurred.




     (6) Such defeasance or covenant defeasance shall be effected in compliance with any
additional terms, conditions or limitations which may be imposed on the Company in
connection therewith pursuant to Section 301.




     (7) The Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that all conditions precedent provided for relating to
either the defeasance under Section 1302 or the covenant defeasance under Section 1303 (as
the case may be) have been complied with.



Section 1305. DEPOSITED MONEY AND U.S. GOVERNMENT OBLIGATIONS TO BE HELD IN TRUST; OTHER MISCELLANEOUS 

                PROVISIONS.




     Subject to the provisions of the last paragraph of Section 1003, all money and U.S. Government
Obligations (including the proceeds thereof) deposited with the Trustee (or other qualifying
trustee — collectively, for purposes of this Section 1305, the “Trustee”) pursuant to Section 1304
in respect of the Outstanding Securities of such series shall be held in trust and applied by the
Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment,
either directly or through any Paying Agent (but not including the Company acting as its own Paying
Agent) as the Trustee may determine, to the Holders of such Securities, of all sums due and to
become due thereon in respect of principal (and premium, if any) and interest, but such money need
not be segregated from other funds except to the extent required by law.



     The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the money or U.S. Government Obligations deposited pursuant to Section 1304
or the principal and interest received in respect thereof.



     Anything herein to the contrary notwithstanding, the Trustee shall deliver or pay to the
Company from time to time upon Company Request any money or U.S. Government Obligations held by it
as provided in Section 1304 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
defeasance or covenant defeasance.



Section 1306. REINSTATEMENT.




     If the Trustee or the Paying Agent is unable to apply any money in accordance with Section
1302 or 1303 by reason of any order or judgment of any court or governmental authority



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enjoining, restraining or otherwise prohibiting such application, then the Company’s
obligations under the Securities of such series shall be revived and reinstated as though no
deposit had occurred pursuant to this Article Thirteen until such time as the Trustee or Paying
Agent is permitted to apply all such money in accordance with Section 1302 or 1303; PROVIDED,
HOWEVER, that if the Company makes any payment of principal of (and premium, if any) or interest on
any such Security following 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 held by the
Trustee or the Paying Agent.



ARTICLE FOURTEEN




Meeting of Holders of Securities




Section 1401. PURPOSES FOR WHICH MEETINGS MAY BE CALLED.




     A meeting of Holders of Securities of any series may be called at any time and from time to
time pursuant to this Article to make, give or take any request, demand, authorization, direction,
notice, consent, waiver or other Act provided by this Indenture to be made, given or taken by
Holders of Securities of such series.



Section 1402. CALL, NOTICE AND PLACE OF MEETINGS.





     (1) The Trustee may at any time call a meeting of Holders of Securities of any series
for any purpose specified in Section 1401, to be held at such time and at such place in the
Borough of Manhattan, The City of New York. Notice of every meeting of Holders of Securities
of any series, setting forth the time and the place of such meeting and in general terms the
action proposed to be taken at such meeting, shall be given, in the manner provided in
Section 106, not less than 21 nor more than 180 days prior to the date fixed for the
meeting.




     (2) In case at any time the Company (by or pursuant to a Company Resolution) or the
Holders of at least 25% in principal amount of the Outstanding Securities of any series
shall have requested the Trustee to call a meeting of the Holders of Securities of such
series for any purpose specified in Section 1401, by written request setting forth in
reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not
have mailed notice of or made the first publication of the notice of such meeting within 21
days after receipt of such request (whichever shall be required pursuant to Section 106) or
shall not thereafter proceed to cause the meeting to be held as provided herein, then the
Company or the Holders of Securities of such series in the amount above specified, as the
case may be, may determine the time and the place in the Borough of Manhattan, The City of
New York for such meeting and may call such meeting for such purposes by giving notice
thereof as provided in clause (1) of this Section.



Section 1403. PERSONS ENTITLED TO VOTE AT MEETINGS.




     To be entitled to vote at any meeting of Holders of Securities of any series, a Person shall
be (1) a Holder of one or more Outstanding Securities of such series, or (2) a Person appointed



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by an instrument in writing as proxy for a Holder or Holders of one or more Outstanding
Securities of such series by such Holder or Holders. The only Persons who shall be entitled to be
present or to speak at any meeting of Holders of Securities of any series shall be the Persons
entitled to vote at such meeting and their counsel, any representatives of the Trustee and its
counsel and any representatives of the Company and its counsel.



Section 1404. QUORUM; ACTION.




     The Persons entitled to vote a majority in principal amount of the Outstanding Securities of a
series shall constitute a quorum for a meeting of Holders of Securities of such series. In the
absence of a quorum within 30 minutes after the time appointed for any such meeting, the meeting
shall, if convened at the request of Holders of Securities of such series, be dissolved. In any
other case the meeting may be adjourned for a period of not less than 10 days as determined by the
chairman of the meeting prior to the adjournment of such meeting. In the absence of a quorum at any
such adjourned meeting, such adjourned meeting may be further adjourned for a period of not less
than 10 days as determined by the chairman of the meeting prior to the adjournment of such
adjourned meeting. Notice of the reconvening of any adjourned meeting shall be given as provided in
Section 1402(1), except that such notice need be given only once not less than five days prior to
the date on which the meeting is scheduled to be reconvened. Notice of the reconvening of an
adjourned meeting shall state expressly the percentage, as provided above, of the principal amount
of the Outstanding Securities of such series which shall constitute a quorum.



     Except as limited by the proviso to Section 902, any resolution presented to a meeting or
adjourned meeting duly reconvened at which a quorum is present as aforesaid may be adopted only by
the affirmative vote of the Holders of a majority in principal amount of the Outstanding Securities
of that series; provided, however, that, except as limited by the proviso to Section 902, any
resolution with respect to any request, demand, authorization, direction, notice, consent, waiver
or other Act which this Indenture expressly provides may be made, given or taken by the Holders of
a specified percentage, which is less than a majority, in principal amount of the Outstanding
Securities of a series may be adopted at a meeting or an adjourned meeting duly reconvened and at
which a quorum is present as aforesaid by the affirmative vote of the Holders of such specified
percentage in principal amount of the Outstanding Securities of such series.



     Any resolution passed or decision taken at any meeting of Holders of Securities of any series
duly held in accordance with this Section shall be binding on all the Holders of Securities of such
series, whether or not such Holders were present or represented at the meeting.



Section 1405. DETERMINATION OF VOTING RIGHTS; CONDUCT AND ADJOURNMENT OF MEETINGS.





     (1) Notwithstanding any other provisions of this Indenture, the Trustee may make such
reasonable regulations as it may deem advisable for any meeting of Holders of Securities of
such series in regard to proof of the holding of Securities of such series and of the
appointment of proxies and in regard to the appointment and duties of inspectors of votes,
the submission and examination of proxies, certificates and other evidence of the right to
vote, and such other matters concerning the conduct of the meeting as it shall



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deem appropriate. Except as otherwise permitted or required by any such regulations,
the holding of Securities shall be proved in the manner specified in Section 104 and the
appointment of any proxy shall be proved in the manner specified in Section 104. Such
regulations may provide that written instruments appointing proxies, regular on their face,
may be presumed valid and genuine without the proof specified in Section 104 or other proof.




     (2) The Trustee shall, by an instrument in writing, appoint a temporary chairman of the
meeting, unless the meeting shall have been called by the Company or by Holders of
Securities as provided in Section 1402(2), in which case the Company or the Holders of
Securities of the series calling the meeting, as the case may be, shall in like manner
appoint a temporary chairman. A permanent chairman and a permanent secretary of the meeting
shall be elected by vote of the Persons entitled to vote a majority in principal amount of
the Outstanding Securities of such series represented at the meeting.




     (3) At any meeting, each Holder of a Security of such series or proxy shall be entitled
to one vote for each $1,000 principal amount of Securities of such series held or
represented by him; provided, however, that no vote shall be cast or counted at any meeting
in respect of any Security challenged as not Outstanding and ruled by the chairman of the
meeting to be not Outstanding. The chairman of the meeting shall have no right to vote,
except as a Holder of a Security of such series or proxy.




     (4) Any meeting of Holders of Securities of any series duly called pursuant to
Section 1402 at which a quorum is present may be adjourned from time to time by Persons
entitled to vote a majority in principal amount of the Outstanding Securities of such series
represented at the meeting; and the meeting may be held as so adjourned without further
notice.



Section 1406. COUNTING VOTES AND RECORDING ACTION OF MEETINGS




     The vote upon any resolution submitted to any meeting of Holders of Securities of any series
shall be by written ballots on which shall be subscribed the signatures of the Holders of
Securities of such series or of their representatives by proxy and the principal amounts and serial
numbers of the Outstanding Securities of such series held or represented by them. The permanent
chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the
meeting for or against any resolution and who shall make and file with the secretary of the meeting
their verified written reports in triplicate of all votes cast at the meeting. A record, at least
in triplicate, of the proceedings of each meeting of Holders of Securities of any series shall be
prepared by the secretary of the meeting and there shall be attached to said record the original
reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or
more persons having knowledge of the facts setting forth a copy of the notice of the meeting and
showing that said notice was given as provided in Section 1402 and, if applicable, Section 1404.
Each copy shall be signed and verified by the affidavits of the permanent chairman and secretary of
the meeting and one such copy shall be delivered to the Company, and another to the Trustee to be
preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting. Any
record so signed and verified shall be conclusive evidence of the matters therein stated.



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ARTICLE FIFTEEN




Immunity of Incorporators, Stockholders, Officers and Directors




Section 1501. INDENTURE AND SECURITIES SOLELY CORPORATE OBLIGATIONS.




     No recourse for the payment of the principal of or any premium or interest on any Security, or
for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any
obligation, covenant or agreement of the Company in this Indenture or in any supplemental
indenture, or in any Security, or because of the creation of any indebtedness represented thereby,
shall be had against any incorporator, stockholder, officer or director, as such, past, present or
future, of the Company or of any successor corporation, either directly or through the Company or
any successor corporation, whether by virtue of any constitution, statute or rule of law, or by the
enforcement of any assessment or penalty or otherwise; it being expressly understood that all such
liability is hereby expressly waived and released as a condition of, and as a consideration for,
the execution of this Indenture and the issue of the Securities.



     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.



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



	 	 	 	 	 	 	 
	 	 	FERRO CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Cynthia M. Kerker
 

	 	 
	 	 	Name: Cynthia M. Kerker	 	 
	 	 	Title: Vice President, Corporate Planning           and
Development, and Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	U.S. BANK NATIONAL ASSOCIATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Holly Pattison
 

	 	 
	 	 	Name: Holly Pattison	 	 
	 	 	Title: Vice President	 	 






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	STATE OF OHIO

	 	 	)	 	 	 	 	 
	 

	 	 	)	 	 	ss.:
	 	 
	COUNTY OF CUYAHOGA

	 	 	)	 	 	 	 	 






     On
the 4th of March, 2008 before me personally came Cynthia M. Kerker to me known, who, being
by me duly sworn, did depose and say that she is Vice President, Corporate Planning and
Development, and Treasurer of Ferro Corporation, one of the corporations described in and which
executed the foregoing instrument and that he signed his name thereto by authority of its Board of
Directors.



	 	 	 	 	 
	 

	 	/s/ Dana L. Vargo	,	 Notary Public
	 

	 	 	 	 
	 

	 	My Commission Expires: Oct, 1, 2012	 	 






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	STATE OF OHIO

	 	 	)

)	 	 	

ss.:
	 	  
	COUNTY OF CUYAHOGA

	 	 	)	 	 	 	 	 






     On
the 4th day of March, 2008 before me personally came Holly Pattison, to me known, who,
being by me duly sworn, did depose and say that she is a Vice President of U.S. Bank National
Association, the Trustee described in and which executed the
foregoing instrument, and that she
signed her name thereto by authority of its Board of Directors.



	 	 	 	 	 
	 

	 	/s/
Stephen A. Broerman 	 , 	 Notary Public
	 

	 	 	 	 
	 

	 	My Commission Expires:
Mar. 22, 2012	 	 







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