exv4w1



 






EXHIBIT 4.1



JOHNSON CONTROLS, INC.


to


JPMORGAN CHASE BANK, N.A.


Trustee


 




INDENTURE


Dated as of ____________, 200__


 




Debt Securities




 









 








TABLE OF CONTENTS*




	 	 	 	 	 
	 	 	Page
	Parties
	 	 	1	 
	Recitals
	 	 	1	 
	 
	 	 	 	 
	ARTICLE ONE.
	 	 	 	 
	 
	 	 	 	 
	Definitions.
	 	 	 	 
	 
	 	 	 	 
	SECTION 1.01. Definitions
	 	 	1	 
	Affiliate
	 	 	1	 
	Authenticating Agent
	 	 	2	 
	Board of Directors
	 	 	2	 
	Board Resolution
	 	 	2	 
	Business Day
	 	 	2	 
	Capitalized Rent
	 	 	2	 
	Company
	 	 	3	 
	Company Request and Company Order
	 	 	3	 
	Consolidated Current Liabilities
	 	 	3	 
	Consolidated Net Tangible Assets
	 	 	3	 
	Consolidated Shareholders’ Equity
	 	 	3	 
	Consolidated Subsidiary
	 	 	3	 
	Consolidated Tangible Assets
	 	 	4	 
	Conversion Date
	 	 	4	 
	Currency Determination Agent
	 	 	4	 
	Current Market Price
	 	 	4	 
	Debt Security or Debt Securities
	 	 	5	 
	Debt Security Register
	 	 	5	 
	Depository
	 	 	5	 
	Dollar
	 	 	5	 
	Dollar Equivalent of the Foreign Currency
	 	 	5	 
	Event of Default
	 	 	5	 
	Foreign Currency
	 	 	5	 
	Funded Debt
	 	 	5	 
	Global Debt Security
	 	 	6	 
	Government Obligations
	 	 	6	 
	Holder
	 	 	6	 
	Indenture
	 	 	6	 
	Indexed Debt Security
	 	 	6	 
	Interest
	 	 	6	 
	Interest Payment Date
	 	 	7	 








 




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





 









 






	 	 	 	 	 
	 	 	Page
	Market Exchange Rate
	 	 	7	 
	Officers’ Certificate
	 	 	7	 
	Opinion of Counsel
	 	 	7	 
	Original Issue Discount Debt Security
	 	 	7	 
	Outstanding
	 	 	7	 
	Person
	 	 	8	 
	Place of Payment
	 	 	8	 
	Predecessor Debt Security
	 	 	9	 
	Principal Office of the Trustee
	 	 	9	 
	Principal Property
	 	 	9	 
	Public Notice
	 	 	9	 
	Redemption Date
	 	 	9	 
	Redemption Price
	 	 	10	 
	Regular Record Date
	 	 	10	 
	Responsible Officer
	 	 	10	 
	Restricted Subsidiary
	 	 	10	 
	Secured Debt
	 	 	10	 
	Security Interest
	 	 	11	 
	Special Record Date
	 	 	11	 
	Stated Maturity
	 	 	11	 
	Subsidiary
	 	 	11	 
	Trustee
	 	 	11	 
	Trust Indenture Act of 1939
	 	 	11	 
	Unrestricted Subsidiary
	 	 	11	 
	Valuation Date
	 	 	12	 
	Voting Stock
	 	 	12	 
	 
	 	 	 	 
	ARTICLE TWO.
	 	 	 	 
	 
	 	 	 	 
	Debt Security Forms.
	 	 	 	 
	 
	 	 	 	 
	SECTION 2.01. Forms Generally
	 	 	12	 
	SECTION 2.02. Forms of Debt Securities
	 	 	12	 
	SECTION 2.03. Form of Trustee’s Certificate of Authentication
	 	 	13	 
	SECTION 2.04. Debt Securities in Global Form
	 	 	13	 
	 
	 	 	 	 
	ARTICLE THREE.
	 	 	 	 
	 
	 	 	 	 
	The Debt Securities.
	 	 	 	 
	 
	 	 	 	 
	SECTION 3.01. Title and Terms
	 	 	15	 
	SECTION 3.02. Denominations
	 	 	18	 
	SECTION 3.03. Payment of Principal and Interest
	 	 	18	 
	SECTION 3.04. Execution of Debt Securities
	 	 	18	 
	SECTION 3.05. Temporary Debt Securities
	 	 	20	 






 









 






	 	 	 	 	 
	 	 	Page
	SECTION 3.06. Exchange and Registration of Transfer of Debt Securities
	 	 	20	 
	SECTION 3.07. Mutilated, Destroyed, Lost or Stolen Debt Securities
	 	 	22	 
	SECTION 3.08. Payment of Interest; Interest Rights Preserved
	 	 	22	 
	SECTION 3.09. Persons Deemed Owners
	 	 	24	 
	SECTION 3.10. Cancellation of Debt Securities Paid, etc
	 	 	24	 
	SECTION 3.11. Currency and Manner of Payments
	 	 	24	 
	 
	 	 	 	 
	ARTICLE FOUR.
	 	 	 	 
	 
	 	 	 	 
	Redemption of Debt Securities; Sinking Funds.
	 	 	 	 
	 
	 	 	 	 
	SECTION 4.01. Applicability of Article
	 	 	26	 
	SECTION 4.02. Notice of Redemption; Selection of Debt Securities
	 	 	26	 
	SECTION 4.03. Payment of Debt Securities Called for Redemption
	 	 	27	 
	SECTION 4.04. Exclusion of Certain Securities from Eligibility
for Selection for Redemption
	 	 	28	 
	SECTION 4.05. Provisions with Respect to any Sinking Funds
	 	 	28	 
	 
	 	 	 	 
	ARTICLE FIVE.
	 	 	 	 
	 
	 	 	 	 
	Particular Covenants of the Company
	 	 	 	 
	 
	 	 	 	 
	SECTION 5.01. Payment of Principal, Premium and Interest
	 	 	30	 
	SECTION 5.02. Offices for Notices and Payments, etc
	 	 	30	 
	SECTION 5.03. Appointments to Fill Vacancies in Trustee’s Office
	 	 	30	 
	SECTION 5.04. Provisions as to Paying Agent
	 	 	31	 
	SECTION 5.05. Limitation on Secured Debt
	 	 	31	 
	SECTION 5.06. Sale and Leaseback Transactions
	 	 	34	 
	SECTION 5.07. Restrictions on Transfer of Principal Property to Unrestricted
Subsidiaries
	 	 	35	 
	SECTION 5.08. Certificate to Trustee
	 	 	35	 
	SECTION 5.09. Waivers of Covenants
	 	 	35	 
	 
	 	 	 	 
	ARTICLE SIX.
	 	 	 	 
	 
	 	 	 	 
	Holders’ Lists and Reports by the Company and the Trustee.
	 	 	 	 
	 
	 	 	 	 
	SECTION 6.01. Holders’ Lists
	 	 	36	 
	SECTION 6.02. Preservation and Disclosure of Lists
	 	 	36	 
	SECTION 6.03. Reports by the Company
	 	 	36	 
	SECTION 6.04. Reports by the Trustee
	 	 	36	 






 









 






	 	 	 	 	 
	 	 	Page
	 
	 	 	 	 
	ARTICLE SEVEN.
	 	 	 	 
	 
	 	 	 	 
	Remedies of the Trustee and Holders on Event of Default.
	 	 	 	 
	 
	 	 	 	 
	SECTION 7.01. Events of Default
	 	 	37	 
	SECTION 7.02. Payment of Debt Securities Upon Default; Suit Therefor
	 	 	40	 
	SECTION 7.03. Application of Moneys Collected by Trustee
	 	 	42	 
	SECTION 7.04. Proceedings by Holders
	 	 	43	 
	SECTION 7.05. Proceedings by Trustee
	 	 	43	 
	SECTION 7.06. Remedies Cumulative and Continuing
	 	 	43	 
	SECTION 7.07. Direction of Proceedings and Waiver of Defaults by
Majority of Holders
	 	 	44	 
	SECTION 7.08. Notice of Defaults
	 	 	44	 
	SECTION 7.09. Undertaking to Pay Costs
	 	 	45	 
	SECTION 7.10. Unconditional Right of Holders to Receive Principal,
Premium and Interest
	 	 	45	 
	 
	 	 	 	 
	ARTICLE EIGHT.
	 	 	 	 
	 
	 	 	 	 
	Concerning the Trustee.
	 	 	 	 
	 
	 	 	 	 
	SECTION 8.01. Duties and Responsibilities of Trustee
	 	 	45	 
	SECTION 8.02. Reliance on Documents, Opinions, etc
	 	 	45	 
	SECTION 8.03. No Responsibility for Recitals, etc
	 	 	47	 
	SECTION 8.04. Trustee and Agents May Own Debt Securities
	 	 	47	 
	SECTION 8.05. Moneys to be Held in Trust
	 	 	47	 
	SECTION 8.06. Compensation and Expenses of Trustee
	 	 	47	 
	SECTION 8.07. Officers’ Certificate as Evidence
	 	 	48	 
	SECTION 8.08. Conflicting Interest of Trustee
	 	 	48	 
	SECTION 8.09. Eligibility of Trustee
	 	 	49	 
	SECTION 8.10. Resignation or Removal of Trustee
	 	 	50	 
	SECTION 8.11. Acceptance by Successor Trustee
	 	 	50	 
	SECTION 8.12. Succession by Merger, etc
	 	 	51	 
	SECTION 8.13. Limitation on Rights of Trustee as a Creditor
	 	 	51	 
	SECTION 8.14. Authenticating Agents
	 	 	51	 
	 
	 	 	 	 
	ARTICLE NINE.
	 	 	 	 
	 
	 	 	 	 
	Concerning the Holders.
	 	 	 	 
	 
	 	 	 	 
	SECTION 9.01. Action by Holders
	 	 	55	 
	SECTION 9.02. Proof of Execution by Holders
	 	 	55	 
	SECTION 9.03. Who Are Deemed Absolute Owners
	 	 	55	 
	SECTION 9.04. Company-Owned Debt Securities Disregarded
	 	 	56	 
	SECTION 9.05. Revocation of Consents; Future Holders Bound
	 	 	56	 






 









 






	 	 	 	 	 
	 	 	Page
	 
	 	 	 	 
	ARTICLE TEN
	 	 	 	 
	 
	 	 	 	 
	Holders’ Meetings.
	 	 	 	 
	 
	 	 	 	 
	SECTION 10.01. Purposes of Meetings
	 	 	57	 
	SECTION 10.02. Call of Meetings by Trustee
	 	 	57	 
	SECTION 10.03. Call of Meetings by Company or Holders
	 	 	57	 
	SECTION 10.04. Qualifications for Voting
	 	 	58	 
	SECTION 10.05. Regulations
	 	 	58	 
	SECTION 10.06. Voting
	 	 	59	 
	SECTION 10.07. No Delay of Rights by Meeting
	 	 	59	 
	 
	 	 	 	 
	ARTICLE ELEVEN.
	 	 	 	 
	 
	 	 	 	 
	Supplemental Indentures.
	 	 	 	 
	 
	 	 	 	 
	SECTION 11.01. Supplemental Indentures without Consent of Holders
	 	 	59	 
	SECTION 11.02. Supplemental Indentures with Consent of Holders
	 	 	61	 
	SECTION 11.03. Effect of Supplemental Indentures
	 	 	62	 
	SECTION 11.04. Notation on Debt Securities
	 	 	62	 
	SECTION 11.05. Evidence of Compliance of Supplemental Indenture to be
Furnished Trustee
	 	 	62	 
	 
	 	 	 	 
	ARTICLE TWELVE.
	 	 	 	 
	 
	 	 	 	 
	Consolidation, Merger, Sale and Conveyance.
	 	 	 	 
	 
	 	 	 	 
	SECTION 12.01. Company May Consolidate, etc., on Certain Terms
	 	 	63	 
	SECTION 12.02. Successor Corporation to be Substituted
	 	 	63	 
	SECTION 12.03. Opinion of Counsel to Be Given Trustee
	 	 	65	 
	 
	 	 	 	 
	ARTICLE THIRTEEN.
	 	 	 	 
	 
	 	 	 	 
	Satisfaction and Discharge of Indenture.
	 	 	 	 
	 
	 	 	 	 
	SECTION 13.01. Satisfaction, Discharge and Defeasance of Debt Securities
of any Series
	 	 	65	 
	SECTION 13.02. Defeasance of Debt Securities of any Series
	 	 	67	 
	SECTION 13.03. Application of Trust Funds; Indemnification
	 	 	68	 
	SECTION 13.04. Return of Unclaimed Moneys
	 	 	69	 
	SECTION
13.05. Reinstatement
	 	 	69	 
	 
	 	 	 	 
	ARTICLE FOURTEEN.
	 	 	 	 
	 
	 	 	 	 
	Immunity of Incorporators, Stockholders, Officers and Directors.
	 	 	 	 
	 
	 	 	 	 
	SECTION 14.01. Indenture and Debt Securities Solely Corporate Obligations
	 	 	69	 






 









 






	 	 	 	 	 
	 	 	Page
	ARTICLE FIFTEEN.
	 	 	 	 
	 
	 	 	 	 
	Miscellaneous Provisions.
	 	 	 	 
	 
	 	 	 	 
	SECTION 15.01. Provisions Binding on Successors of the Company
	 	 	70	 
	SECTION 15.02. Indenture for Sole Benefit of Parties and Holders of Debt
Securities
	 	 	70	 
	SECTION 15.03. Addresses for Notices, etc
	 	 	70	 
	SECTION 15.04. New York Contract
	 	 	70	 
	SECTION 15.05. Evidence of Compliance with Conditions Precedent
	 	 	70	 
	SECTION 15.06. Legal Holidays
	 	 	71	 
	SECTION 15.07. Trust Indenture Act of 1939 to Control
	 	 	71	 
	SECTION 15.08. Table of Contents, Headings, etc
	 	 	71	 
	SECTION 15.09. Determination of Principal Amount
	 	 	71	 
	SECTION 15.10. Execution in Counterparts
	 	 	72	 
	Signatures
	 	 	 	 
	Acknowledgements
	 	 	 	 






 









 










CROSS REFERENCE SHEET




Between




     Provisions of
Sections 310 through 318(a) inclusive of Trust Indenture Act of 1939 and the
Indenture dated as of _________  ___, 20__
between Johnson Controls, Inc. and JPMorgan Chase Bank,
N.A., as Trustee.



	 	 	 
	Section of Act	 	Section of Indenture
	 
	310(a)(1) and (2)

	 	 8.09
	310(a)(3) and (4)

	 	 *
	310(b)

	 	 8.08 and 8.10
	310(c)

	 	 *
	311(a)

	 	 8.13(a)
	311(b)

	 	 8.13(b)
	311(c)

	 	 *
	312(a)

	 	 6.01 and 6.02(a)
	312(b)

	 	 6.02(b)
	312(c)

	 	 6.02(c)
	313(a)(1), (2), (3), (4), (6) and (7)

	 	 6.04(a)(1-6)
	313(a)(5)

	 	 *
	313(b)(1)

	 	 *
	313(b)(2)

	 	 6.04(b)
	313(c)

	 	 6.04(c)
	313(d)

	 	 6.04(d)
	314(a)(1)

	 	 6.03(a)
	314(a)(2)

	 	 6.03(b)
	314(a)(3)

	 	 6.03(c)
	314(b)

	 	 *
	314(c)(1)

	 	 15.05
	314(c)(2)

	 	 15.05
	314(c)(3)

	 	 *
	314(d)

	 	 *
	314(e)

	 	 15.05
	314(f)

	 	 *
	315(a), (c) and (d)

	 	 8.01
	315(b)

	 	 7.08
	315(e)

	 	 7.09
	316(a)(1)

	 	 7.07
	316(a)(2)

	 	 *
	316(a) last para.

	 	 9.04
	316(b)

	 	 7.10
	317(a)

	 	 7.02
	317(b)

	 	 5.04
	318(a)

	 	 15.07








 




			
	*	 	Not applicable.
	 
	**	 	This cross reference sheet shall not, for any purpose, be deemed to be part of the Indenture.




 









 








          
THIS INDENTURE, dated as of _________ ___, 200__, between Johnson Controls, Inc., a Wisconsin
corporation (the “Company”), and JPMorgan Chase Bank, N.A., a national banking association, as
trustee (the “Trustee”).




RECITALS OF THE COMPANY




          The Company has duly authorized the execution and delivery of this Indenture to provide for
the issue from time to time of its unsecured debentures, notes, bonds or other evidences of
indebtedness to be issued in one or more series as in this Indenture provided, up to such principal
amount or amounts as may from time to time be authorized in or pursuant to one or more resolutions
of the Board of Directors.




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




NOW, THEREFORE, THIS INDENTURE WITNESSETH:




          For and in consideration of the premises and the purchase or acceptance of the Debt Securities
by the Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate
benefit of the respective Holders from time to time of the Debt Securities or of any series thereof
as follows:




ARTICLE ONE.




Definitions.




          SECTION 1.01. Definitions. The terms defined in this Section 1.01 (except as herein
otherwise expressly provided or unless the context otherwise requires) for all purposes of this
Indenture and of any indenture supplemental hereto shall have the respective meanings specified in
this Section 1.01. All other terms used in this Indenture which are defined in the Trust Indenture
Act of 1939 or which are by reference therein defined in the Securities Act of 1933, as amended,
shall have (except as herein otherwise expressly provided or unless the context otherwise requires)
the meanings assigned to such terms in said Trust Indenture Act of 1939 and in said Securities Act
as in force at the date of the execution of this Indenture. All accounting terms not otherwise
defined herein have the meanings assigned to them in accordance with generally accepted accounting
principles 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 at the date of such computation. All
references to such terms herein shall be both to the singular or the plural, as the context so
requires.




Affiliate:




          The term “Affiliate”, when used with respect to 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:




          The term “Authenticating Agent” shall mean the agent of the Trustee, if any, which at the time
shall be appointed and acting pursuant to Section 8.14.




Board of Directors:




          The term “Board of Directors” shall mean the Board of Directors of the Company or any
authorized committee of such Board designated by the Board of Directors or the by-laws or the
articles of incorporation of the Company to act for such Board for purposes of this Indenture.




Board Resolution:




          The term “Board Resolution” means a copy of a resolution certified by a Vice President, 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:




          The term “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 to close.




Capitalized Rent:




          The term “Capitalized Rent” means the total net amount of rent payable for the remaining term
as of the date of determination thereof under a lease of Principal Property by the Company or any
of its Restricted Subsidiaries, discounted from the respective due dates thereof to such date at
the rate per annum equal to the weighted average interest rate borne by the Debt Securities. The
weighted average interest rate borne by the Debt Securities shall be calculated by dividing the
aggregate of the annual interest payments required on the Debt Securities, based on the amount
Outstanding at the latest date any Debt Securities were issued hereunder, by the aggregate
principal amount of the Debt Securities Outstanding at such date. The total net amount of rent
payable under any such lease for any period shall be the total amount of the rent payable by the
lessee with respect to such period but shall not include amounts required to be paid on account of
maintenance and repairs, insurance, taxes, assessments, water rates, sewer rents and similar
charges and contingent rents such as those based on sales. The remaining term under any lease
shall be calculated without giving effect to any unexercised option of the lessee for the renewal
or extension of any term. In the case of any




2









 







lease which is terminable by the lessee upon the payment of a penalty, such net amount shall
also include the amount of such penalty, but no rent shall be considered as required to be paid
under such lease subsequent to the first date upon which it may be so terminated.




Company:




          The term “Company” shall mean Johnson Controls, Inc., a Wisconsin corporation, and, subject
to Article Twelve, shall include its successors and assigns.




Company Request and Company Order:




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




Consolidated Current Liabilities:




          The term “Consolidated Current Liabilities” means the aggregate of the current liabilities of
the Company and its Restricted Subsidiaries (excluding liabilities of Unrestricted Subsidiaries and
excluding billings on uncompleted contracts in excess of related costs and profits) appearing on
the most recent available consolidated balance sheet of the Company and its Restricted
Subsidiaries, all in accordance with generally accepted accounting principles; provided, however,
that in no event shall Consolidated Current Liabilities include any obligation of the Company and
its Restricted Subsidiaries issued under a revolving credit or similar agreement if the obligation
issued under such agreement matures by its terms within 12 months from the date thereof but by the
terms of such agreement such obligation may be renewed or extended or the amount thereof reborrowed
or refunded at the option of the Company or any Restricted Subsidiary for a term in excess of 12
months from the date of determination.




Consolidated Net Tangible Assets:




          The term “Consolidated Net Tangible Assets” means Consolidated Tangible Assets after deduction
of Consolidated Current Liabilities.




Consolidated Shareholders’ Equity




          The term “Consolidated Shareholders’ Equity” means at any date the stockholders’ equity of the
Company and its Consolidated Subsidiaries determined on a consolidated basis as of such date in
accordance with generally accepted accounting principles; provided that, for purposes hereof, the
consolidated stockholders’ equity of the Company and its Consolidated Subsidiaries shall be
calculated without giving effect to (i) the application of Financial Accounting Standards Board
Statement No. 106 or (ii) the cumulative foreign currency translation adjustment.




Consolidated Subsidiary




3









 








          The term “Consolidated Subsidiary” shall mean, as to any Person, each subsidiary of such
Person (whether now existing or hereafter created or acquired) the financial statements of which
shall be (or should have been) consolidated with the financial statements of such Person in
accordance with generally accepted accounting principles, but excluding any such consolidated
subsidiary of York International Corporation that would not be so consolidated but for the effect
of FIN 46.




Consolidated Tangible Assets:




          The term “Consolidated Tangible Assets” means the aggregate of all assets of the Company and
its Restricted Subsidiaries (including the value of all existing Sale and Leaseback Transactions
and any assets resulting from the capitalization of other long-term lease obligations in accordance
with generally accepted accounting principles but excluding the value of assets or investments in
any Unrestricted Subsidiary or any non-majority-owned Subsidiary) appearing on the most recent
available consolidated balance sheet of the Company and its Restricted Subsidiaries at their net
book values, after deducting related depreciation, amortization and other valuation reserves and
excluding (a) any capital write-ups resulting from reappraisals of assets or of other investments
after December 31, 1994 (other than a write-up of any assets constituting part of the assets and
business of another corporation made in connection with the acquisition, direct or indirect, of the
assets and business of such other corporation) except as permitted in accordance with generally
accepted accounting principles, (b) treasury stock, (c) patent and trademark rights, good will,
unamortized discounts and expenses and any other intangible items, all in accordance with generally
accepted accounting principles.




Conversion Date:




          The term “Conversion Date” shall have the meaning set forth in Section 3.11:




Currency Determination Agent:




          The term “Currency Determination Agent” shall mean the financial institution, if any, from
time to time selected by the Company and approved by the Trustee for purposes of Section 3.11.




Current Market Price:




          The term “Current Market Price” means the closing price (or, if none, the average of the last
daily bid and asked prices) of the applicable class of capital stock as quoted by the primary
securities exchange on which the stock is traded, or, if none, the primary inter-dealer quotation
system, which reports quotations for the class of capital stock, for the last trading day
immediately prior to the Calculation Date.




4









 








Debt Security or Debt Securities:




          The terms “Debt Security” or “Debt Securities” shall mean any unsecured notes, debentures or
other indebtedness of any series, as the case may be, issued by the Company from time to time, and
authenticated and delivered under this Indenture.




Debt Security Register:




          The term “Debt Security Register” shall have the meaning set forth in Section 3.06.




Depository:




          The term “Depository” shall mean, unless otherwise specified by the Company pursuant to
Section 3.01, with respect to Securities of any series issuable or issued as a Global Security, The
Depository Trust Company, New York, New York, or any successor thereto registered as a clearing
agency pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934, as
amended, or other applicable statute or regulation.




Dollar:




          The term “Dollar” shall mean the coin or currency of the United States of America which as of
the time of payment is legal tender for the payment of public and private debts.




Dollar Equivalent of the Foreign Currency:




          The term “Dollar Equivalent of the Foreign Currency” shall have the meaning set forth in
Section 3.11.




Event of Default:




          The term “Event of Default” shall mean any event specified in Section 7.01, continued for the
period of time, if any, and after the giving of the notice, if any, therein designated.




Foreign Currency:




          The term “Foreign Currency” shall mean a currency issued by the government of any country
other than the United States of America.




Funded Debt:




          The term “Funded Debt” means all indebtedness for money borrowed having a maturity of more
than twelve months from the date of the most recent consolidated balance sheet of the Company and
its Restricted Subsidiaries (excluding indebtedness of Unrestricted Subsidiaries) or renewable and
extendible beyond twelve months at the option of




5









 







the borrower and all obligations in respect of lease rentals which under generally accepted
accounting principles would be shown on a consolidated balance sheet of the Company as a liability
item other than a current liability; provided, however, that Funded Debt shall not include any of
the foregoing to the extent that such indebtedness or obligations are not required by generally
accepted accounting principles to be shown on the balance sheet of the Company.




Global Debt Security:




          The term “Global Debt Security” means a Debt Security issued to evidence all or part of a
series of Debt Securities.




Government Obligations:




          The term “Government Obligations” means securities which are (i) direct obligations of the
government which issued the currency in which the Debt Securities of a series are denominated or
(ii) obligations of a person controlled or supervised by and acting as an agency or instrumentality
of the government which issued the currency in which the Debt Securities of such series are
denominated, the payment of which obligations is unconditionally guaranteed by such government, and
which, in either case, are full faith and credit obligations of such government, are denominated in
the currency in which the Debt Securities of such series are denominated and which are not callable
or redeemable at the option of the issuer thereof.




Holder:




          The term “Holder” means any Person in whose name a Debt Security of any series is registered
in the Debt Security Register applicable to Debt Securities of such series.




Indenture:




          The term “Indenture” shall mean this instrument as originally executed or, if amended or
supplemented as herein provided, as so amended or supplemented, pursuant to the applicable
provisions hereof.




Indexed Debt Security




          The term “Indexed Debt Security” means a Debt Security the terms of which provide that the
principal amount thereof payable at Stated Maturity may be more or less than the principal face
amount thereof at original issuance.




Interest:




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




6









 








Interest Payment Date:




          The term “Interest Payment Date”, when used with respect to any series of Debt Securities,
means the Stated Maturity of an installment of interest on such Debt Securities.




Market Exchange Rate:




          The term “Market Exchange Rate” shall have the meaning set forth in Section 3.11.




Officers’ Certificate:




          The term “Officers’ Certificate”, when used with respect to the Company, shall mean a
certificate signed by its Chairman of the Board, Vice Chairman of the Board, President, or a Vice
President and by its Treasurer, Secretary, Assistant Secretary or Assistant Treasurer and delivered
to the Trustee. One of the officers giving an Officers’ Certificate pursuant to Section 5.05 shall
be a principal executive, financial or accounting officer of the Company. Each such certificate
shall include the statements provided for in Section 15.05 to the extent required by the provisions
of such Section.




Opinion of Counsel:




          The term “Opinion of Counsel” shall mean an opinion in writing signed by legal counsel who may
be an employee of or counsel to the Company, and who shall be reasonable acceptable to the Trustee.
Each such opinion shall include the statements provided for in Section 3.04 and Section 15.05 to
the extent required by the provisions of such Sections.




Original Issue Discount Debt Security:




          The term “Original Issue Discount Date Security” means any Debt 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 7.01.




Outstanding:




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





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




     (ii) such Debt Securities for whose payment or redemption money in the
necessary amount and in the specified currency 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



7









 







Company shall act as its own paying agent) for the Holders of such Debt
Securities, provided, however, that if such Debt 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) such Debt Securities in exchange for or in lieu of which other
such Debt Securities have been authenticated and delivered pursuant to this
Indenture, or such Debt Securities which have been paid, pursuant to this
Indenture, unless proof satisfactory to the Trustee is presented that any
such Debt Securities are held by Persons in whose hands any of such Debt
Securities are a legal, valid and binding obligation of the Company, and




     (iv) such Debt Securities the indebtedness in respect to which has
been discharged in accordance with Section 13.02.


provided, however, that in determining whether the Holders of the requisite principal amount of
such Outstanding Debt Securities have given any request, demand, authorization, direction, notice,
consent or waiver hereunder, such Debt Securities owned by the Company or such other obligor upon
such Debt Securities or any Affiliate of the Company or 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
such Debt Securities which a Responsible Officer of the Trustee knows to be so owned shall be so
disregarded. Such Debt 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 Debt Securities and that the pledgee is not the Company or any other
such obligor upon such Debt Securities or any Affiliate of the Company or such other obligor. In
case of a dispute as to such right, the decision of the Trustee upon the advice of counsel shall be
full protection to the Trustee. Upon request of the Trustee, the Company shall furnish to the
Trustee promptly an Officers’ Certificate listing and identifying all such Debt Securities, if any,
known by the Company to be owned or held by or for the account of any of the above described
Persons; and, subject to the provisions of Section 8.01, the Trustee shall be entitled to accept
such Officers’ Certificate as conclusive evidence of the facts therein set forth and of the fact
that all such Debt Securities not listed therein are Outstanding for the purpose of any such
determination.




Person:




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




Place of Payment:




          The term “Place of Payment”, when used with respect to the Debt Securities of any series,
means the place or places where the principal of (premium, if any) and




8









 







interest on the Debt Securities of that series are payable as specified in accordance with
Section 3.01.




Predecessor Debt Security:




          The term “Predecessor Debt Security” of any particular Debt Security means every previous Debt
Security evidencing all or a portion of the same debt as that evidenced by such particular Debt
Security, and for the purposes of this definition, any Debt Security authenticated and delivered
under Section 3.07 in lieu of a mutilated, lost, destroyed or stolen Debt Security shall be deemed
to evidence the same debt as the mutilated, lost, destroyed or stolen Debt Security.




Principal Office of the Trustee:




          The term “principal office of the Trustee”, or other similar terms, means the principal office
of the Trustee in New York, New York, at which at any particular time its corporate trust business
shall be administered, which office on the date hereof is located at 4 New York Plaza,
15th Floor, New York, New York, 10004.




Principal Property:




          The term “Principal Property” means any manufacturing plant, warehouse, office building or
parcel of real property (including fixtures but excluding leases and other contract rights which
might otherwise be deemed real property) owned by the Company or any Restricted Subsidiary, whether
owned on the date hereof or thereafter, provided each such plant, warehouse, office building or
parcel of real property has a gross book value (without deduction for any depreciation reserves) at
the date as of which the determination is being made of in excess of two percent of the
Consolidated Net Tangible Assets of the Company and the Restricted Subsidiaries, other than any
such plant, warehouse, office building or parcel of real property or portion thereof which, in the
opinion of the Board of Directors (evidenced by a certified Board Resolution thereof delivered to
the Trustee), is not of material importance to the business conducted by the Company and its
Restricted Subsidiaries taken as a whole.




Public Notice:




          The term “Public Notice” shall, without limitation, include any filing or report made in
accordance with the requirements of the Securities and Exchange Commission or any press release or
public announcement made by the Company.




Redemption Date:




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




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Redemption Price:




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




Regular Record Date:




          The term “Regular Record Date” for the interest payable on any Debt Security on any Interest
Payment Date means the date specified in such Debt Security as the “Regular Record Date” as
contemplated by Section 3.01.




Responsible Officer:




          The term “Responsible Officer”, when used with respect to the Trustee, means any officer of
the Trustee having direct responsibility for the administration of this Indenture and also means,
with respect to a particular corporate trust matter, any other officer to whom such matter is
referred because of his knowledge of and familiarity with the particular subject.




Restricted Subsidiary:




          The term “Restricted Subsidiary” means (a) any Subsidiary other than an Unrestricted
Subsidiary and (b) any Subsidiary which was an Unrestricted Subsidiary but which, subsequent to
December 31, 1994, is designated by the Company (by Board Resolution) to be a Restricted
Subsidiary; provided however, that the Company may not designate any such Subsidiary to be a
Restricted Subsidiary if the Company would thereby breach any covenant or agreement herein
contained (on the assumptions that any outstanding Secured Debt of such Subsidiary was incurred at
the time of such designation and that any Sale and Leaseback Transaction (as defined in Section
5.06) to which such Subsidiary is then a party was entered into at the time of such designation).




Secured Debt:




          The term “Secured Debt” means indebtedness for money borrowed and any Funded Debt which is
secured by a Security Interest in (a) any Principal Property or (b) any shares of capital stock or
indebtedness of any Restricted Subsidiary.




Security Interest:




          The term “Security Interest” shall mean any mortgage, pledge, lien, encumbrance, conditional
sale, title retention agreement or other security interest which secures payment or performance of
an obligation.




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Special Record Date:




          The term “Special Record Date” for the payment of any Defaulted Interest (as defined in
Section 3.08) means a date fixed by the Trustee pursuant to Section 3.08.




Stated Maturity:




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




Subsidiary:




          The term “Subsidiary” means any corporation of which the Company, or the Company and one or
more Subsidiaries, or any one or more Subsidiaries, directly or indirectly own more than 50% of the
Voting Stock.




Trustee:




          The term “Trustee” shall mean JPMorgan Chase Bank, N.A. and, subject to the provisions of
Article Eight hereof, shall also include its successors and assigns as Trustee hereunder.




Trust Indenture Act of 1939:




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




Unrestricted Subsidiary:




          The term “Unrestricted Subsidiary” means (a) any Subsidiary acquired or organized after March
31, 1989, provided, however, that such Subsidiary shall not be a successor, directly or indirectly,
to any Restricted Subsidiary; (b) any Subsidiary whose principal business or assets are located
outside the United States of America, its territories and possessions, Puerto Rico or Canada; (c)
any Subsidiary the principal business of which consists of financing or assisting in financing of
customer construction projects or the acquisition or disposition of products of dealers,
distributors or other customers; (d) any Subsidiary engaged in the insurance business or whose
principal business is the ownership, leasing, purchasing, selling or development of real property;
and (e) any Subsidiary substantially all the assets of which consist of stock or other securities
of a Subsidiary or Subsidiaries of a character described in clauses (a) through (d) of this
paragraph, unless and until any such Subsidiary shall have been




11









 







designated to be a Restricted Subsidiary pursuant to clause (b) of the definition of
“Restricted Subsidiary.”




Valuation Date:




          The term “Valuation Date” shall have the meaning set forth in Section 3.11.




Voting Stock:




          The term “Voting Stock” means outstanding shares of capital stock having under ordinary
circumstances 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 the happening of any contingency.




ARTICLE TWO.




Debt Security Forms.




          SECTION 2.01. Forms Generally. The Debt Securities of each series and the certificates of
authentication thereon shall have such appropriate insertions, omissions, substitutions and other
variations as are required or permitted by this Indenture (the provisions of which shall be
appropriate to reflect the terms of each series of Debt Securities, including the currency or
denomination, which may be Dollars or Foreign Currency), 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 Debt Securities, as evidenced by their signing of such
Debt Securities. Any portion of the text of any Debt Security may be set forth on the reverse
thereof, with an appropriate reference thereto on the face of the Debt Security.




          The definitive Debt Securities shall be printed, lithographed or engraved or produced by any
combination of these methods or may be produced in any other manner permitted by the rules of any
securities exchange, all as determined by the officers executing such Debt Securities, as evidenced
by their signing of such Debt Securities.




          SECTION 2.02. Forms of Debt Securities. The Debt Securities of each series shall be in such
form or forms (including global form) as shall be established by or pursuant to a Board Resolution.




          Prior to the delivery of a Debt Security of any series in any such form to the Trustee for the
Debt Securities of such series for authentication, the Company shall deliver to the Trustee the
following:




          (1) The Board Resolution by or pursuant to which such form of Debt Security has been
approved;




12









 








          (2) An Officers’ Certificate dated the date such Certificate is delivered to the Trustee
stating that all conditions precedent provided for in this Indenture relating to the authentication
and delivery of Debt Securities in such form have been complied with; and




          (3) An Opinion of Counsel stating that Debt Securities in such form, together with any
coupons appertaining thereto, when (a) completed by appropriate insertions and executed and
delivered by the Company to the Trustee for authentication in accordance with this Indenture, (b)
authenticated and delivered by such Trustee in accordance with this Indenture within the
authorization as to aggregate principal amount established from time to time by the Board of
Directors, and (c) sold in the manner specified in such Opinion of Counsel, will be the legal,
valid and binding obligations of the Company, subject to applicable bankruptcy, reorganization,
insolvency and other similar laws generally affecting creditors’ rights, to general equitable
principles and to such other qualifications as such counsel shall conclude do not materially affect
the rights of Holders of such Debt Securities.




          The definitive Debt Securities and coupons, if any, shall be printed, lithographed or engraved
or produced by any combination of these methods on a steel engraved border or steel engraved
borders or may be produced in any other manner, all as determined by the officers executing such
Debt Securities or coupons, as evidenced by their execution thereof.




          SECTION 2.03. Form of Trustee’s Certificate of Authentication. The following is the form of
the Certificate of Authentication of the Trustee to be endorsed on the face of all Debt Securities
substantially as follows:




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




	 	 	 	 	 	 	 
	 	 	JPMORGAN CHASE BANK, N.A.,	 	 
	 	 	as Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Authorized Officer	 	 






          SECTION 2.04. Debt Securities in Global Form. (a) If the Company shall establish pursuant
to Section 3.01 that the Debt Securities of a particular series are to be issued in whole or in
part in the form of one or more Global Debt Securities, then the Company shall execute and the
Trustee or its agent shall, in accordance with Section 3.04 and the Company Order delivered to the
Trustee or its agent thereunder, authenticate and deliver such Global Debt Security or Global Debt
Securities, which (i) shall represent, and shall be denominated in an amount equal to the aggregate
principal amount of, the Outstanding Debt Securities of such series to be represented by such
Global Debt Security or Global Debt Securities, or such portion thereof as the Company shall
specify in a Company Order, (ii) shall be registered in the name of the Depository for such Global
Debt Security or Global Debt Securities or its nominee, (iii) shall be delivered by the Trustee or
its agent to the Depository or




13









 







pursuant to the Depository’s instruction and (iv) shall bear a legend substantially to the
following effect: “Unless this certificate is presented by an authorized representative of the
Depository to the Company or its agent for registration of transfer, exchange, or payment, and any
certificate issued is registered in the name of the nominee of the Depository or in such other name
as is requested by an authorized representative of the Depository (and any payment is made to the
nominee of the Depository or to such other entity as is requested by an authorized representative
of the Depository), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
PERSON IS WRONGFUL inasmuch as the registered owner hereof, the nominee of the Depository, has an
interest herein.”




          (b) Notwithstanding any other provision of this Section 2.04 or of Section 3.06, and subject
to the provisions of paragraph (c) below, unless the terms of a Global Debt Security expressly
permit such Global Debt Security to be exchanged in whole or in part for individual certificates
representing Debt Securities, a Global Debt Security may be transferred, in whole but not in part
and in the manner provided in Section 3.06, only to a nominee of the Depository for such Global
Debt Security, or to the Depository, or a successor Depository for such Global Debt Security
selected or approved by the Company, or to a nominee of such successor Depository.




          (c) (1) If at any time the Depository for a Global Debt Security notifies the Company that
it is unwilling or unable to continue as Depository for such Global Debt Security or if at any time
the Depository for the Global Debt Securities for such series shall no longer be eligible or in
good standing under the Securities Exchange Act of 1934, as amended, or other applicable statute or
regulation, the Company shall appoint a successor Depository with respect to such Global Debt
Security. If a successor Depository for such Global Debt Security is not appointed by the Company
within 90 days after the Company receives notice or becomes aware of such ineligibility, the
Company will execute, and the Trustee or its agent, upon receipt of a Company Request for the
authentication and delivery of certificates representing Debt Securities of such series in exchange
for such Global Debt Security, will authenticate and deliver, certificates representing Debt
Securities of such series of like tenor and terms in an aggregate principal amount equal to the
principal amount of the Global Debt Security in exchange for such Global Debt Security.




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




14









 








          (3) If specified by the Company pursuant to Section 3.01 with respect to Debt Securities
issued or issuable in the form of a Global Debt Security, the Depository for such Global Debt
Security may surrender such Global Debt Security in exchange in whole or in part for certificates
representing Debt Securities of such series of like tenor and terms in definitive form on such
terms as are acceptable to the Company and such Depository. Thereupon the Company shall execute,
and the Trustee or its agent shall authenticate and deliver, without a service charge, (1) to each
Holder specified by the Security Registrar or the Depository a certificate or certificates
representing Securities of the same series of like tenor and terms and of any authorized
denomination as requested by such person in an aggregate principal amount equal to and in exchange
for such Holder’s beneficial interest as specified by the Security Registrar or the Depository in
the Global Debt Security; and (2) to such Depository a new Global Debt Security of like tenor and
terms and in an authorized denomination equal to the difference, if any, between the principal
amount of the surrendered Global Debt Security and the aggregate principal amount of certificates
representing Debt Securities delivered to Holders thereof.




          (4) In any exchange provided for in any of the preceding three paragraphs, the Company will
execute and the Trustee or its agent will authenticate and deliver certificates representing Debt
Securities in definitive registered form in authorized denominations for Debt Securities of the
same series or any integral multiple thereof. Upon the exchange of the entire principal amount of
a Global Debt Security for certificates representing Debt Securities, such Global Debt Security
shall be cancelled by the Trustee or its agent. Except as provided in the preceding paragraph,
certificates representing Debt Securities issued in exchange for a Global Debt Security pursuant to
this Section shall be registered in such names and in such authorized denominations for Debt
Securities of that Series or any integral multiple thereof, as the Security Registrar or Depository
shall instruct the Trustee or its agent. The Trustee or the Security Registrar shall deliver at
its Corporate Trust Office such certificates representing Debt Securities to the Holders in whose
names such Debt Securities are so registered.




ARTICLE THREE.




The Debt Securities.




          SECTION 3.01. Title and Terms. The aggregate principal amount of Debt Securities which may
be authenticated and delivered under this Indenture is unlimited. The Debt Securities may be
issued up to the aggregate principal amount of Debt Securities from time to time authorized by or
pursuant to a Board Resolution.




          The Debt Securities may be issued in one or more series. All Debt Securities of each series
issued under this Indenture shall in all respects be equally and ratably entitled to the benefits
hereof with respect to such series without preference, priority or distinction on account of the
actual time or times of the authentication and delivery or maturity of the Debt Securities of such
series. There shall be established in or pursuant to a Board Resolution, and set forth in an
Officers’ Certificate to the extent not established in a Board




15









 







Resolution, or established in one or more indentures supplemental hereto, prior to the
issuance of Debt Securities of any series:





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




     (2) any limit upon the aggregate principal amount of the Debt
Securities of the series which may be authenticated and delivered under this
Indenture (except for Debt Securities authenticated and delivered upon
registration of transfer of, or in exchange for, or in lieu of, other Debt
Securities of that series pursuant to this Article Three, the second
paragraph of Section 4.03, or Section 11.04);




     (3) the date or dates (or the manner of calculation thereof) on which
the principal of the Debt Securities of the series is payable;




     (4) the rate or rates (or the manner of calculation thereof) at which
the Debt 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 such interest shall be payable and the Regular Record Date for the
Interest payable on any Interest Payment Date;




     (5) the Place of Payment;




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




     (7) the obligation, if any, of the Company to redeem or purchase Debt
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 in the currency at which, the currency or
currency units in which, and the terms and conditions upon which Debt
Securities of the series shall be redeemed or purchased, in whole or in
part, pursuant to such obligation;




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




     (9) the application, if any, of Section 13.02;




     (10) if other than Dollars, the currencies in which payments of
interest or principal of (and premium, if any, with respect to) the Debt
Securities of the series are to be made;



16









 






     (11) if the interest on or principal of (or premium, if any, with
respect to) the Debt Securities of the series are to be payable, at the
election of the Company or a Holder thereof or otherwise, in a currency
other than that in which such Debt Securities are payable, the period or
periods within which, and the other terms and conditions upon which, such
election may be made, and the time and manner of determining the exchange
rate between the currency in such Debt Securities are denominated or stated
to be payable and the currency in which such Debt Securities or any of them
are to be so payable;




     (12) whether the amount of payments of interest on or principal of (or
premium, if any, with respect to) the Debt Securities of such series may be
determined with reference to an index, formula or other method (which index,
formula or method or method may be based, without limitation, on one or more
currencies, commodities, equity indices or other indices), and, if so, the
terms and conditions upon which and the manner in which such amounts shall
be determined and paid or payable;




     (13) the extent to which any Debt Securities will be issuable in
permanent global form, the manner in which any payments on a permanent
global Debt Security will be made, and the appointment of any Depository
relating thereto;




     (14) any deletions from, modifications of or additions to the Events
of Default or covenants with respect to the Debt Securities of such series,
whether or not such Events of Default or covenants are consistent with the
Events of Default or covenants set forth herein;




     (15) if any of the Debt Securities of such series are to be issuable
upon the exercise of warrants, this shall be so established as well as the
time, manner and place for such Debt Securities to be authenticated and
delivered;




     (16) any other terms of the series (which terms shall not be
inconsistent with the provisions of this Indenture).



          All Debt Securities of any one series shall be substantially identical except as to
denomination and except as may otherwise be provided in or pursuant to such Board Resolution and
set forth in such Officers’ Certificate or in any such indenture supplemental hereto.




          SECTION 3.02. Denominations. The Debt Securities of each series shall be issuable in
registered form without coupons in such denominations as shall be specified as contemplated in
Section 3.01. In the absence of any specification with respect to the Debt Securities of any
series, the Debt Securities of such series shall be issuable in denominations of $1,000 and any
integral multiple thereof, which may be in Dollars or any Foreign Currency.




17









 








          SECTION 3.03. Payment of Principal and Interest. The principal of, premium, if any, and
interest on the Debt Securities shall be payable at the office or agency of the Company designated
for that purpose in the Place of Payment, as provided in Section 5.02; provided, however, that
interest may be payable at the option of the Company, upon at least five Business Days written
notice to the Trustee by check mailed to the address of the Person entitled thereto as such address
shall appear on the Debt Security Register on the record date for such interest payment.




          SECTION 3.04. Execution of Debt Securities. The Debt Securities shall be executed manually
or by facsimile in the name and on behalf of the Company by its Chairman of the Board of Directors,
its President, one of its Vice Presidents or its Treasurer and by its Secretary or one of its
Assistant Secretaries under its corporate seal (which may be printed, engraved or otherwise
reproduced thereon, by facsimile or otherwise). Only such Debt Securities as shall bear thereon a
certificate of authentication substantially in the form hereinbefore recited, manually executed by
the Trustee, shall be entitled to the benefits of this Indenture or be valid or become obligatory
for any purpose. Such certificate by the Trustee upon any Debt Security executed by the Company
shall be conclusive evidence that the Debt Security so authenticated has been duly authenticated
and delivered hereunder and that the Holder is entitled to the benefits of this Indenture.




          In case any officer of the Company who shall have executed any of the Debt Securities shall
cease to be such officer before the Debt Securities so executed shall have been authenticated and
delivered by the Trustee, or disposed of by the Company, such Debt Securities nevertheless shall be
valid and binding and may be authenticated and delivered or disposed of as though the Person who
executed such Debt Securities had not ceased to be such officer of the Company; and any Debt
Securities may be executed on behalf of the Company by such Persons as, at the actual date of the
execution of such Debt Security, shall be the proper officers of the Company, although at the date
of such Debt Security or of the execution of this Indenture any such Person was not such an
officer.




          At any time and from time to time after the execution and delivery of this Indenture, the
Company may deliver Debt Securities of any series, properly created in accordance with Section 3.01
and executed by the Company, to the Trustee for authentication; and the Trustee shall authenticate
and deliver such Debt Securities upon Company Order. In the event that any other Person performs
the Trustee’s duties as Authenticating Agent pursuant to a duly executed agreement, the Company
shall notify the Trustee in writing of the issuance of any Debt Securities hereunder, such notice
to be delivered in accordance with the provisions of Section 15.03 on the date such Debt Securities
are delivered by the Company for authentication to such other Person.




          Prior to any such authentication and delivery, the Trustee shall be entitled to receive, and
shall be fully protected in relying upon, in addition to the Opinion of Counsel to be furnished to
the Trustee pursuant to Section 15.05 and the Officers’ Certificate relating to the issuance of any
series of Debt Securities pursuant to Sections 15.05 and 3.01, Opinions of Counsel stating that:




18









 









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




     (2) all laws and requirements with respect to the form and execution
by the Company of the supplemental indenture, if any, have been complied
with, the execution and delivery of the supplemental indenture, if any, will
not violate the terms of this Indenture, the supplemental indenture has been
duly qualified under the Trust Indenture Act of 1939, the Company has
corporate power to execute and deliver any such supplemental indenture and
has taken all necessary corporate action for those purposes and any such
supplemental indenture has been executed and delivered and constitutes the
legal, valid and binding obligation of the Company enforceable in accordance
with its terms (subject, as to enforcement of remedies, to applicable
bankruptcy, reorganization, insolvency, moratorium or other laws affecting
creditors’ rights generally from time to time in effect);




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




     (4) all laws and requirements with respect to the execution and
delivery by the Company of such Debt Securities have been complied with, the
authentication and delivery of the Debt Securities by the Trustee will not
violate the terms of this Indenture, the Company has the corporate power to
issue such Debt Securities and such Debt Securities, assuming due
authentication and delivery by the Trustee, constitute legal, valid and
binding obligations of the Company in accordance with their terms and are
entitled to the benefits of this Indenture, equally and ratably with all
other Outstanding Debt Securities, if any, of such series; and




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



          The Trustee shall not be required to authenticate such Debt Securities if the issue thereof
will adversely affect the Trustee’s own rights, duties or immunities under the Debt Securities and
this Indenture or otherwise in a manner which is not reasonably acceptable to the Trustee or such
action would expose the Trustee to personal liability to existing Holders.




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




          No Debt Security shall be entitled to any benefit under this Indenture or be valid or
obligatory for any purpose, unless there appears on such Debt Security a certificate of
authentication substantially in the form provided for herein executed by the Trustee by manual
signature, and such certificate upon any Debt Security shall be conclusive evidence, and the only
evidence, that such Debt Security has been duly authenticated and delivered hereunder.




19









 








          SECTION 3.05. Temporary Debt Securities. Pending the preparation of definitive Debt
Securities of any series, the Company may execute, and upon receipt of the documents required by
Sections 2.02, 3.01 and 3.04, together with a Company Order, the Trustee shall authenticate and
deliver, such temporary Debt Securities which may be printed, lithographed, typewritten,
mimeographed or otherwise produced, in any authorized denominations, substantially of the tenor of
such definitive Debt Securities in lieu of which they are issued and with such appropriate
insertions, omissions, substitutions and other variations as the officers executing such temporary
Debt Securities may determine, as evidenced by their execution of such temporary Debt Securities.




          If temporary Debt Securities of any series are issued, the Company will cause definitive Debt
Securities of such series to be prepared without unreasonable delay. After the preparation of
definitive Debt Securities of any series, the temporary Debt Securities of such series shall be
exchangeable for definitive Debt Securities of such series, upon surrender of the temporary Debt
Securities of such series at any office or agency maintained by the Company for such purposes as
provided in Section 5.02, without charge to the Holder. Upon surrender for cancellation of any one
or more temporary Debt Securities of any series, the Company shall execute and the Trustee shall
authenticate and deliver in exchange therefore a like principal amount of definitive Debt
Securities of such series having the same interest rate and Stated Maturity and bearing interest
from the same date of any authorized denominations. Until so exchanged the temporary Debt
Securities of such series shall in all respects be entitled to the same benefits under this
Indenture as definitive Debt Securities of such series.




          SECTION 3.06. Exchange and Registration of Transfer of Debt Securities. Debt Securities may
be exchanged for a like aggregate principal amount of Debt Securities of such series that are of
other authorized denominations. Debt Securities to be exchanged shall be surrendered at any office
or agency to be maintained for such purpose by the Company, as provided in Section 5.02, and the
Company shall execute and the Trustee shall authenticate and deliver in exchange therefore the Debt
Security or Debt Securities of authorized denominations which the Debt Securityholder making the
exchange shall be entitled to receive. Each agent of the Company appointed pursuant to Section
5.02 as a person authorized to register and register transfer of Debt Securities is sometimes
herein referred to as a “Debt Security registrar.”




          The Company shall keep, at each such office or agency of the Company maintained for such
purpose, as provided in Section 5.02, a register for each series of Debt Securities hereunder (the
registers of all Debt Security registrars being herein sometimes collectively referred to as the
“Debt Security Register”) in which, subject to such reasonable regulations as it may prescribe, the
Company shall provide for the registration of Debt Securities and shall register the transfer of
Debt Securities as in this Article Three provided. At all reasonable times, such Debt Security
Register shall be open for inspection by the Trustee and any Debt Security registrar other than the
Trustee. Upon due presentment for registration of transfer of any Debt Security at any such office
or agency, the Company shall execute and register and the Trustee shall authenticate and deliver in
the name of the transferee or transferees a new Debt Security or Debt Securities of authorized
denominations for an equal aggregate




20









 







principal amount. Registration or registration of transfer of any Debt Security by any Debt
Security registrar in the registry books maintained by such Debt Security registrar, and delivery
of such Debt Security, duly authenticated, shall be deemed to complete the registration or
registration of transfer of such Debt Security.




          The Company will at all times designate one Person (who may be the Company and who need not be
a Debt Security registrar) to act as repository of a master list of names and addresses of Holders
of the Debt Securities. The Trustee shall act as such repository unless and until some other
Person is, by written notice from the Company to the Trustee and each Debt Security registrar,
designated by the Company to act as such. The Company shall cause each Debt Security registrar to
furnish to such repository, on a current basis, such information as such repository may reasonably
request as to registrations, transfers, exchanges and other transactions effected by such
registrar, as may be necessary or advisable to enable such repository to maintain such master list
on as current a basis as is reasonably practicable.




          No Person shall at any time be appointed as or act as a Debt Security registrar unless such
Person is at such time empowered under applicable law to act as such and duly registered to act as
such under and to the extent required by applicable law and regulations.




          All Debt Securities presented to a Debt Security registrar for registration of transfer shall
be duly endorsed by, or be accompanied by a written instrument or instruments of transfer in form
satisfactory to the Company and such Debt Security registrar duly executed by the registered Holder
or his attorney duly authorized in writing.




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




          The Company shall not be required to issue, exchange or register a transfer of (a) any Debt
Securities of any series for a period of 15 days next preceding the mailing of a notice of
redemption of Debt Securities of such series and ending at the close of business on the day of the
mailing of a notice of redemption of Debt Securities of such series so selected for redemption, or
(b) any Debt Securities selected, called or being called for redemption except, in the case of any
Debt Security to be redeemed in part, the portion thereof not so to be redeemed.




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




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




21









 








          SECTION 3.07. Mutilated, Destroyed, Lost or Stolen Debt Securities. In case any temporary or
definitive Debt Security shall become mutilated or be destroyed, lost or stolen, the Company in its
discretion may execute, and upon its request the Trustee shall authenticate and deliver, a new Debt
Security, bearing a number, letter or other distinguishing mark not contemporaneously Outstanding,
in exchange and substitution for the mutilated Debt Security, or in lieu of and in substitution for
the Debt Security so destroyed, lost or stolen. In every case the applicant for a substituted Debt
Security shall furnish to the Company and to the Trustee such security or indemnity as may be
required by them to save each of them harmless, and, in every case of destruction, loss or theft,
the applicant shall also furnish to the Company and to the Trustee evidence to their satisfaction
of the destruction, loss or theft, of such Debt Security and of the ownership thereof.




          In the absence of notice to the Trustee or the Company that such Debt Security has been
acquired by a protected purchaser, the Trustee shall authenticate any such substituted Debt
Security and deliver the same upon any Company Request. Upon the issuance of any substituted Debt
Security, the Company may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in relation thereto and any other expenses connected
therewith. In case any Debt Security which has matured or is about to mature shall become
mutilated or be destroyed, lost or stolen, the Company may, instead of issuing a substituted Debt
Security, pay or authorize the payment of the same (without surrender thereof except in the case of
a mutilated Debt Security) if the applicant for such payment shall furnish to the Company and to
the Trustee such security or indemnity as may be required by them to save each of them harmless
and, in case of destruction, loss or theft, evidence satisfactory to the Company and to the Trustee
of the destruction, loss or theft of such Debt Security and of the ownership thereof.




          Every substituted Debt Security issued pursuant to the provisions of this Section 3.07 by
virtue of the fact that any Debt Security is destroyed, lost or stolen shall constitute an
additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Debt
Security shall be found at any time, and shall be entitled to all the benefits of this Indenture
equally and proportionately with any and all other Debt Securities duly issued hereunder. All Debt
Securities shall be held and owned upon the express condition that the foregoing provisions are
exclusive with respect to the replacement or payment of mutilated, destroyed, lost or stolen Debt
Securities and shall preclude (to the extent permitted by law) any and all other rights or remedies
with respect to the replacement or payment of negotiable instruments or other securities without
their surrender.




          SECTION 3.08. Payment of Interest; Interest Rights Preserved. Interest which is payable, and
is punctually paid or duly provided for, on any Interest Payment Date, on any Debt Security, shall
unless otherwise provided in such Debt Security be paid to the Person in whose name the Debt
Security (or one or more Predecessor Debt Securities) is registered at the close of business on the
Regular Record Date for such interest.




22









 








          Unless otherwise stated in the form of Debt Security of a series, interest on the Debt
Securities of any series shall be computed on the basis of a 360 day year comprised of twelve 30
day months.




          Any interest on any Debt Security which is payable, but is not punctually paid or duly
provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith
cease to be payable to the registered Holder on the relevant Regular Record Date by virtue of
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 any such Debt Securities (or their respective
Predecessor Debt 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 Debt
Security and the date of the proposed payment, and at the same time the
Company shall deposit with the Trustee an amount of money equal to the
aggregate amount proposed to be paid in respect of such Defaulted Interest
or shall make arrangements satisfactory to the Trustee for such deposit
prior to the date of the proposed payment, such money when deposited to be
held in trust for the benefit of the Persons entitled to such Defaulted
Interest as in this clause provided. Thereupon the Trustee shall fix a
Special Record Date for the payment of such Defaulted Interest which shall
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 therefore to be mailed, first-class
postage prepaid, to each Holder of such Debt Securities, at his address as
it appears in the Debt Security Register, not less than 10 days prior to
such Special Record Date. Notice of the proposed payment of such Defaulted
Interest and the Special Record Date therefore having been mailed as
aforesaid, such Defaulted Interest shall be paid to the Persons in whose
names such Debt Securities (or their respective Predecessor Debt Securities)
are registered on such Special Record Date and shall no longer be payable
pursuant to the following Clause (2).




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



23









 







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



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




          SECTION 3.09. Persons Deemed Owners. The Company, the Trustee and any agent of the Company
or the Trustee may treat the Person in whose name any Debt Security is registered as the owner of
such Debt Security for the purpose of receiving payment of principal of, premium, if any, and
(subject to Section 3.08) interest on, such Debt Security and for all other purposes whatsoever
whether or not such Debt 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.




          SECTION 3.10. Cancellation of Debt Securities Paid, etc. All Debt Securities surrendered for
the purpose of payment, redemption, exchange or registration of transfer or delivered in
satisfaction in whole or in part of any sinking fund obligation shall, if surrendered to the
Company or any agent of the Trustee or the Company under this Indenture, be delivered to the
Trustee and promptly cancelled by it, or, if surrendered to the Trustee, shall be promptly
cancelled by it, and no Debt Securities shall be issued in lieu thereof except as expressly
permitted by any of the provisions of this Indenture. The Trustee shall dispose of cancelled Debt
Securities in accordance with its customary procedures unless directed by a Company Order.




          SECTION 3.11. Currency and Manner of Payments. (a) With respect to Debt Securities
denominated in Dollars or a Foreign Currency, the following payment provisions shall apply:





     (1) Except as provided in subparagraph (a)(2) or in paragraph (c) of
this Section 3.11, payment of principal of and premium, if any, on any Debt
Securities will be made at the offices established pursuant to Section 5.02
by delivery of a check in the currency in which the Debt Security is
denominated on the payment date against surrender of such Debt Security, and
any interest on any Debt Security will be paid at such office by mailing a
check in the currency in which the Debt Securities were issued to the Person
entitled thereto at the address of such Person appearing on the Debt
Security Register.




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



24









 





          (b) Not later than the fourth Business Day after the Record Date for such Interest Payment
Date, the Paying Agent will deliver to the Company a written notice specifying, in the currency in
which each series of the Debt Securities are denominated, the respective aggregate amounts of
principal of and premium, if any, and interest on the Debt Securities to be made on such payment
date, specifying the amounts so payable in respect of the Debt Securities. The failure of the
Paying Agent to deliver such notice shall not relieve the Company from its obligation to make all
payments with respect to any Debt Security when due.




          (c) If the Foreign Currency in which any of the Debt Securities are denominated ceases to be
used both by the government of the country which issued such currency and for the settlement of
transactions by public institutions of or within the international banking community, then with
respect to each date for the payment of Foreign Currency occurring after the last date on which the
Foreign Currency was so used (the “Conversion Date”), the Dollar shall be the currency of payment
for use on each such Interest Payment Date. The Dollar amount to be paid by the Company to the
Trustee and by the Trustee or any paying agent to the Holder of such Debt Securities with respect
to such payment date shall be the Dollar Equivalent of the Foreign Currency as determined by the
Currency Determination Agent as of the Record Date (the “Valuation Date”) in the manner provided in
paragraph (d).




          (d) The “Dollar Equivalent of the Foreign Currency” shall be determined by the Currency
Determination Agent as of each Valuation Date and shall be obtained by converting the specified
Foreign Currency into Dollars at the Market Exchange Rate on the Valuation Date.




          (e) The “Market Exchange Rate” shall mean, for any currency, the highest firm bid quotation
for U.S. dollars received by the Currency Determination Agent at approximately 11:00 a.m., New York
City time, on the second Business Day preceding the applicable payment date (or, if no such rate is
quoted on such date, the last date on which such rate was quoted), from three recognized foreign
exchange dealers in the City of New York selected by the Currency Determination Agent and approved
by the Company (one of which may be the Currency Determination) for the purchase by the quoting
dealer, for settlement on such payment date, of the aggregate amount of such currency payable on
such payment in respect of all Notes denominated in such currency.




          All decisions and determinations of the Currency Determination Agent regarding the Dollar
Equivalent of the Foreign Currency and the Market Exchange Rate shall be in its sole discretion and
shall, in the absence of manifest error, be conclusive for all purposes and irrevocably binding
upon the Company and all Holders of the Debt Securities. In the event that the Foreign Currency
ceases to be used both by the government of the country which issued such currency and for the
settlement of transactions by public institutions of or within the international banking community,
the Company, after learning thereof, will immediately give notice thereof to the Trustee (and the
Trustee will promptly thereafter give notice in the manner provided in Section 15.03 to the
Holders) specifying the Conversion Date.




25









 








          The Trustee shall be fully justified and protected in relying on and acting upon the
information so received by it from the Company or the Currency Determination Agent and shall not
otherwise have any duty or obligation to determine such information independently.




          If the principal of (and premium, if any) and interest on any Debt Securities is payable in a
Foreign Currency and such Foreign Currency is not available for payment due to the imposition of
exchange controls or other circumstances beyond the




          control of the Company, then the Company shall be entitled to satisfy its obligations to Holders
under this Indenture by making such payment in Dollars on the basis of the Market Exchange Rate for
such Foreign Currency on the latest date for which such rate was established on or before the date
on which payment is due. Any payment made pursuant to this Section 3.11 in Dollars where the
required payment is in a Foreign Currency shall not constitute a default under this Indenture.




ARTICLE FOUR.




Redemption of Debt Securities; Sinking Funds.




          SECTION 4.01. Applicability of Article. The Company may reserve the right to redeem and pay
before Stated Maturity all or any part of the Debt Securities of any series, either by optional
redemption, sinking fund (mandatory or optional) or otherwise, by provision therefor in the form of
Debt Security for such series on such terms as are specified in such form or the Board Resolution
or Officers’ Certificate delivered pursuant to Section 3.01 or the indenture supplemental hereto as
provided in Section 3.01 with respect to Debt Securities of such series. Redemption of Debt
Securities of any series shall be made in accordance with the terms of such Debt Securities and, to
the extent that this Article does not conflict with such terms, in accordance with this Article.




          SECTION 4.02. Notice of Redemption; Selection of Debt Securities. In case the Company shall
desire to exercise the right to redeem all, or, as the case may be, any part of a series of Debt
Securities pursuant to Section 4.01, the Company shall fix a date for redemption and the Company,
or, at the Company’s request, the Trustee in the name of and at the expense of the Company, shall
mail a notice of such redemption at least 30 and not more than 60 days prior to the date fixed for
redemption to the Holders of Debt Securities so to be redeemed as a whole or in part at their last
addresses as the same appear on the Debt Securities Register. Such mailing shall be by first class
mail. The notice if mailed in the manner herein provided shall be conclusively presumed to have
been duly given, whether or not the Holder receives such notice. In any case, failure to give such
notice by mail or any defect in the notice to the Holder of any Debt Security designated for
redemption as a whole or in part shall not affect the validity of the proceedings for the
redemption of any other Debt Security.




          Notice of redemption shall be given in the name of the Company and shall specify the date
fixed for redemption, the redemption price at which Debt Securities of any series are to be
redeemed, the place of payment (which shall be at the offices or agencies to be maintained by the
Company pursuant to Section 5.02), that payment of the redemption price will be made upon
presentation and surrender of such Debt Securities, that interest accrued to the date




26









 







fixed for redemption will be paid as specified in said notice, that on and after said date
interest thereon or on the portions thereof to be redeemed will cease to accrue, and the Section of
this Indenture pursuant to which Debt Securities will be redeemed. In case less than all Debt
Securities of any series are to be redeemed, the notice of redemption shall also identify the
particular Debt Securities to be redeemed as a whole or in part and shall state that the redemption
is for the sinking fund, if such is the case. In case any Debt Security is to be redeemed in part
only, the notice of redemption shall state the portion of the principal amount thereof to be
redeemed and shall state that on and after the date fixed for redemption, upon surrender of such
Debt Security, a new Debt Security or Debt Securities of such series in aggregate principal amount
equal to the unredeemed portion thereof will be issued without charge to the Holder.




          If less than all the Debt Securities of any series are to be redeemed, the Company shall give
the Trustee notice, at least 45 days (or such shorter period acceptable to the Trustee) in advance
of the date fixed for redemption, as to the aggregate principal amount of Debt Securities to be
redeemed. Debt Securities may be redeemed in part in multiples equal to the minimum authorized
denomination for Debt Securities of such Series or any multiple thereof. Thereupon the Trustee
shall select, in such manner as in its sole discretion it shall deem appropriate and fair, the Debt
Securities or portions thereof to be redeemed, and shall as promptly as practicable notify the
Company of the Debt Securities or portions thereof so selected. For all purposes of this
Indenture, unless the context otherwise requires, all provisions relating to the redemption of Debt
Securities of any series shall relate, in the case of any Debt Security redeemed or to be redeemed
only in part, to the portion of the principal amount of such Debt Security which has been or is to
be redeemed.




          On or prior to the date fixed for redemption specified in the notice of redemption given as
provided in this Section 4.02, the Company will deposit with the Trustee or with the paying agent
an amount of money in the currency in which the Debt Securities of such series are payable
sufficient to redeem on the date fixed for redemption all the Debt Securities so called for
redemption at the appropriate redemption price, together with accrued interest to the date fixed
for redemption.




          The Trustee shall not mail any notice of redemption of any series of Debt Securities during
the continuation of any default in payment of interest on any series of Debt Securities when due or
of any Event of Default, except that where notice of redemption with respect to any series of Debt
Securities shall have been mailed prior to the occurrence of such default or Event of Default, the
Trustee shall redeem such Debt Securities provided funds are deposited with it for such purpose.




          SECTION 4.03. Payment of Debt Securities Called for Redemption. If notice of redemption has
been given as herein provided, the Debt Securities or portions of Debt Securities with respect to
which such notice has been given shall become due and payable on the date and at the place stated
in such notice at the applicable redemption price, together with interest accrued to the date fixed
for redemption, and on and after said date (unless the Company shall default in the payment of such
Debt Securities or portions thereof at the redemption price, together with interest accrued to said
date) interest on the Debt Securities or portions of Debt




27









 







Securities so called for redemption shall cease to accrue, and such Debt Securities and
portions of Debt Securities shall be deemed not to be Outstanding hereunder and shall not be
entitled to any benefit under this Indenture except to receive payment of the redemption price,
together with accrued interest to the date fixed for redemption. On presentation and surrender of
such Debt Securities at the place of payment in said notice specified, the said Debt Securities or
the specified portions thereof shall be paid and redeemed by the Company at the applicable
redemption price, together with interest accrued thereon to the date fixed for redemption;
provided, however, that any installments of interest becoming due on the date fixed for redemption
shall be payable to the Holders of such Debt Securities, or one or more previous Debt Securities
evidencing all or a portion of the same debt as that evidenced by such particular Debt Securities,
registered as such on the relevant record dates according to their terms and the provisions of
Section 3.08.




          Upon presentation and surrender of any Debt Security redeemed in part only, with, if the
Company or the Trustee so required, 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, the Company shall execute and the Trustee shall authenticate and
deliver to the Holder thereof, at the expense of the Company, a new Debt Security or Debt
Securities of the same series having the same interest rate and Stated Maturity and bearing
interest from the same date, of any authorized denominations as requested by such Holder, in
aggregate principal amount equal to the unredeemed portion of the Debt Security so presented and
surrendered.




          SECTION 4.04. Exclusion of Certain Securities from Eligibility for Selection for Redemption.
Debt Securities shall be excluded from eligibility for selection for redemption if they are
identified by registration and certificate number in a written statement signed by a Responsible
Officer of the Company and delivered to the Trustee at least 45 days prior to the last date on
which notice of redemption may be given as being owned of record and beneficially by, and not
pledged or hypothecated by, either (a) the Company or (b) an entity specifically identified in such
written statement directly or indirectly controlling or controlled by or under direct or indirect
common control with the Company.




          SECTION 4.05. Provisions with Respect to any Sinking Funds. Unless the form or terms of any
series of Debt Securities shall provide otherwise, in lieu of making all or any part of any
mandatory sinking fund payment with respect to such series of Debt Securities in cash, the Company
may at its option (1) deliver to the Trustee for cancellation any Debt Securities of such series
theretofore acquired by the Company, or (2) receive credit for any Debt Securities of such series
(not previously so credited) acquired by the Company and theretofore delivered to the Trustee for
cancellation, then Debt Securities so delivered or credited shall be credited at the applicable
sinking fund Redemption Price with respect to the Debt Securities of such series.




          On or before the 45th day next preceding each sinking fund Redemption Date, the Company will
deliver to the Trustee a certificate signed by the Chief Financial Officer, any Vice President, the
Treasurer or any Assistant Treasurer of the Company specifying (i) the




28









 







portion of the mandatory sinking fund payment to be satisfied by deposit of cash in the
currency in which the Debt Securities of such series are payable, by delivery of Debt Securities
theretofore purchased or otherwise acquired by the Company (which Debt Securities shall accompany
such certificate) and by credit for Debt Securities acquired by the Company and theretofore
delivered to the Trustee for cancellation redeemed by the Company and stating that the credit to be
applied has not theretofore been so applied or applied in lieu of retiring Funded Debt pursuant to
Section 5.06 and (ii) whether the Company intends to exercise its right, if any, to make an
optional sinking fund payment, and, if so, the amount thereof. Such certificate shall also state
that no Event of Default has occurred and is continuing. Such certificate shall be irrevocable and
upon its delivery the Company shall be obligated to make the payment or payments therein referred
to, if any, on or before the next succeeding sinking fund payment date. In case of the failure of
the Company on or before the 45th day next preceding each sinking fund Redemption Date to deliver
such certificate (or to deliver the Debt Securities specified in this paragraph), the sinking fund
payment due on the next succeeding sinking fund payment date shall be paid entirely in cash (in the
currency described above) and shall be sufficient to redeem the principal amount of Debt Securities
as a mandatory sinking fund payment, without the option to deliver or credit Debt Securities as
provided in the first paragraph of this Section 4.04 and without the right to make an optional
sinking fund payment as provided herein.




          If the sinking fund payment or payments (mandatory or optional) with respect to any series of
Debt Securities made in cash (in the currency described above) shall exceed the minimum authorized
denomination set forth in an Officers’ Certificate pursuant to Section 3.01 or the equivalent in
the currency in which the Debt Securities of such series are payable (or a lesser sum if the
Company shall so request), unless otherwise provided by the terms of such series of Debt
Securities, said cash shall be applied by the Trustee on the sinking fund Redemption Date with
respect to Debt Securities of such series at the applicable sinking fund Redemption Price with
respect to Debt Securities of such series, together with accrued interest, if any, to the date
fixed for redemption, with the effect provided in Section 4.03. The Trustee shall select, in the
manner provided in Section 4.02, for redemption on such sinking fund Redemption Date a sufficient
principal amount of Debt Securities of such series to utilize said cash and shall thereupon cause
notice of redemption of the Debt Securities of such series for the sinking fund to be given in the
manner provided in Section 4.02 (and with the effect provided in Section 4.03) for the redemption
of Debt Securities in part at the option of the Company. Debt Securities of any series which are
identified by registration and certificate number in an Officer’s Certificate at least 45 days
prior to the sinking fund Redemption Date as being beneficially owned by, and not pledged or
hypothecated by, the Company or an entity directly or indirectly controlling or controlled by or
under direct or indirect common control with the Company shall be excluded from Debt Securities of
such series eligible for selection for redemption. Any sinking fund moneys not so applied or
allocated by the Trustee to the redemption of Debt Securities of such series shall be added to the
next cash sinking fund payment with respect to Debt Securities of such series received by the
Trustee and, together with such payment, shall be applied in accordance with the provisions of this
Section 4.05. Any and all sinking fund moneys with respect to Debt Securities of any series held
by the Trustee at the maturity of Debt Securities of such series, and not held for the payment or
redemption of particular Debt Securities of such series, shall be applied by the Trustee, together
with other moneys, if




29









 







necessary, to be deposited sufficient for the purpose, to the payment of the principal of the
Debt Securities of such series at maturity.




          The Trustee shall not convert any currency in which the Debt Securities of such series are
payable for the purposes of such sinking fund application unless a Company Request is made, and any
such conversion agreed to by the Trustee in response to such request shall be for the account and
at the expense of the Company and shall not affect the Company’s obligation to pay the Holders in
the currency to which such Holder is entitled.




          On or before each sinking fund Redemption Date provided with respect to Debt Securities of any
series, the Company shall pay to the Trustee in cash in the currency described above a sum equal to
all accrued interest, if any, to the date fixed for redemption on Debt Securities to be redeemed on
such sinking fund Redemption Date pursuant to this Section 4.05.




ARTICLE FIVE.




Particular Covenants of the Company.




          SECTION 5.01. Payment of Principal, Premium and Interest. The Company will duly and
punctually pay or cause to be paid (in the currency in which the Debt Securities of such series are
payable) the principal of and premium, if any, and interest on each of the Debt Securities at the
place (subject to Section 3.03), at the respective times and in the manner provided in each series
of Debt Securities and in this Indenture.




          SECTION 5.02. Offices for Notices and Payments, etc. (a) So long as the Debt Securities of
any series remain Outstanding, the Company will maintain at the Place of Payment, an office or
agency where the Debt Securities may be presented for payment, an office or agency where the Debt
Securities may be presented for registration of transfer and for exchange as in this Indenture
provided, and an office or agency where notices and demands to or upon the Company in respect of
the Debt Securities or of this Indenture may be served and shall give the Trustee written notice
thereof and any changes in the location thereof. In case the Company shall at any time fail to
maintain any such office or agency, or shall fail to give notice to the Trustee of any change in
the location thereof, presentation and demand may be made and notice may be served in respect of
the Debt Securities or of this Indenture at said office of the Trustee.




          (b) In addition to the office or agency maintained by the Company pursuant to Section 5.02(a),
the Company may from time to time designate one or more other offices or agencies where the Debt
Securities may be presented for payment and presented for registration of transfer and for exchange
in the manner provided in this Indenture, and the Company may from time to time rescind such
designations, as the Company may deem desirable or expedient; provided, however, that no such
designation or rescission shall in any manner relieve the Company of its obligation to maintain
such office and agency at the Place of Payment, for the purposes abovementioned. The Company will
give to the Trustee prompt




30









 







written notice of (i) any such designation or rescission thereof, and (ii) the location of any
such office or agency outside the Place of Payment and of any change of location thereof.




          SECTION 5.03. Appointments to Fill Vacancies in Trustee’s Office. The Company, whenever
necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided
in Section 8.10, a Trustee, so that there shall at all times be a Trustee hereunder.




          SECTION 5.04. Provisions as to Paying Agent. (a) (1) Whenever the Company shall have one or
more Paying Agents for any series of Debt Securities other than the Trustee, it will, on or before
each due date of the principal of (and premium, if any) or interest on any Debt Securities of such
series, deposit with a Paying Agent a sum sufficient to pay such amount becoming due, such sum to
be held as provided by the Trust Indenture Act of 1939, and (unless such Paying Agent is the
Trustee) the Company will promptly notify the Trustee of its action or failure so to act.




          (2) The Company will cause each Paying Agent 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 of 1939 applicable to it as a Paying Agent and (ii) during the continuance of
any default by the Company (or any other obligor upon any series of Debt Securities) in the making
of any payment in respect of the Debt Securities of such series, upon the written request of the
Trustee, forthwith pay to the Trustee all sums held in trust by such Paying Agent as such.




          (b) If the Company shall act as its own paying agent, it will, on or prior to each due date of
the principal of and premium, if any, or interest on Debt Securities of any series, set aside,
segregate and hold in trust for the benefit of the Holders of such Debt Securities a sum sufficient
to pay such principal and premium, if any, or interest so becoming due and will notify the Trustee
of any failure to take such action and of any failure by the Company (or by any other obligor on
such series of Debt Securities) to make any payment of the principal of and premium, if any, or
interest on the Debt Securities when the same shall become due and payable.




          (c) Anything in this Section 5.04 to the contrary notwithstanding, the Company may, at any
time, for the purpose of obtaining a satisfaction and discharge of this Indenture with respect to
any or all series of Debt Securities then Outstanding, or for any other reason, pay or cause to be
paid to the Trustee all sums held in trust by the Company, or any paying agent hereunder, as
required by this Section 5.04, such sums to be held by the Trustee upon the trusts herein
contained.




          (d) Anything in this Section 5.04 to the contrary notwithstanding, the agreement to hold sums
in trust provided in this Section 5.04 is subject to Section 13.04.




          SECTION 5.05. Limitation on Secured Debt.




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          (a) So long as the Debt Securities shall remain Outstanding, the Company will not at any time
create, assume or guarantee, and will not cause, suffer or permit a Restricted Subsidiary to
create, assume or guarantee any Secured Debt without making effective provision (and the Company
covenants that in such case it will make or cause to be made effective provision) whereby the Debt
Securities then Outstanding subject to applicable priorities of payment shall be secured by such
Security Interest equally and ratably with any and all other obligations and indebtedness which
shall be so secured; provided, however, that the foregoing covenants shall not be applicable to the
following:





     (1) (a) any Security Interest on any property hereafter acquired or
constructed by the Company or a Restricted Subsidiary to secure or provide
for the payment of all or any part of the purchase price or construction
cost of such property, including, but not limited to, any indebtedness
incurred by the Company or a Restricted Subsidiary prior to, at the time of,
or within 180 days after the later of the acquisition, the completion of
construction (including any improvements on an existing property) or the
commencement of commercial operation of such property, which indebtedness is
incurred for the purpose of financing all or any part of the purchase price
thereof or construction or improvements thereon; or (b) the acquisition of
property subject to any Security Interest upon such property existing at the
time of acquisition thereof, whether or not assumed by the Company or such
Restricted Subsidiary; or (c) any Security Interest existing on the property
or on the outstanding shares of capital stock or indebtedness of a
corporation at the time such corporation shall become a Restricted
Subsidiary; or (d) a Security Interest on property or shares of capital
stock or indebtedness of a corporation existing at the time such corporation
is merged into or consolidated with the Company or a Restricted Subsidiary
or at the time of a sale, lease or other disposition of the properties of a
corporation or firm as an entirety or substantially as an entirety to the
Company or a Restricted Subsidiary, provided, however, that no such Security
Interest shall extend to any other Principal Property of the Company or such
Restricted Subsidiary prior to such acquisition or to the other Principal
Property thereafter acquired other than additions to such acquired property;




     (2) Security Interests in property of the Company or a Restricted
Subsidiary in favor of the United States of America or any State thereof, or
any department, agency or instrumentality or political subdivision of the
United States of America or any State thereof, or in favor of any other
country, or any department, agency or instrumentality or political
subdivision thereof (including, without limitation, Security Interests to
secure indebtedness of the pollution control or industrial revenue bond
type), in order to permit the Company or a Restricted Subsidiary to perform
any contract or subcontract made by it with or at the request of any of the
foregoing, or to secure partial, progress, advance or other



32









 







payments pursuant to any contract or statute or to secure any
indebtedness incurred for the purpose of financing all or any part of the
purchase price or the cost of constructing or improving the property subject
to such Security Interests;




     (3) Any Security Interest on any property or assets of any Restricted
Subsidiary to secure indebtedness owing by it to the Company or to a
Restricted Subsidiary;




     (4) Mechanics’, materialmen’s, carriers’ or other like liens arising
in the ordinary course of business (including construction of facilities) in
respect of obligations which are not due or which are being contested in
good faith;




     (5) Any Security Interest arising by reason of deposits with, or the
giving of any form of security to, any governmental agency or any body
created or approved by law or governmental regulations, which is required by
law or governmental regulation as a condition to the transaction of any
business, or the exercise of any privilege, franchise or license;




     (6) Security Interests for taxes, assessments or governmental charges
or levies not yet delinquent, or the Security Interests for taxes,
assessments or government charges or levies already delinquent but the
validity of which is being contested in good faith;




     (7) Security Interests (including judgment liens) arising in
connection with legal proceedings so long as such proceedings are being
contested in good faith and, in the case of judgment liens, execution
thereon is stayed;




     (8) Landlords’ liens on fixtures located on premises leased by the
Company or a Restricted Subsidiary in the ordinary course of business; or




     (9) Any extension, renewal or replacement (or successive extensions,
renewals or replacements) in whole or in part of any Security Interest
permitted by subsection (a) of this Section 5.05.



          (b) Notwithstanding the provisions of subsection (a) of this Section 5.05, the Company and any
one or more Restricted Subsidiaries may without securing the Debt Securities issue, assume or
guarantee Secured Debt which would otherwise be subject to the foregoing restrictions in an
aggregate amount which, together with all other Secured Debt of the Company and its Restricted
Subsidiaries which would otherwise be subject to the foregoing restrictions (not including Secured
Debt permitted to be secured under subsection (a) above) and the aggregate value of the Sale and
Leaseback Transactions (as defined in Section 5.06) in existence at such time (not including Sale
and Leaseback Transactions the proceeds of which have been or will be applied in accordance with
Section 5.06(b)), does not




33









 







exceed 10% of Consolidated Shareholders’ Equity, determined as of a date not more than 90 days
prior thereto.




          (c) In the event that the Company shall hereafter secure the Debt Securities of each series
equally and ratably with any other obligation or indebtedness pursuant to the provisions of this
Section 5.05, the Trustee is hereby authorized to enter into an indenture or agreement supplemental
hereto and to take such action, if any, as it may deem advisable to enable it to enforce
effectively the rights of the Holders of the Securities so secured, equally and ratably with such
other obligation or indebtedness.




          SECTION 5.06. Sale and Leaseback Transactions. So long as the Debt Securities shall remain
Outstanding, the Company will not, and will not permit any Restricted Subsidiary to, sell or
transfer (except to the Company or one or more Restricted Subsidiaries, or both) any Principal
Property owned by it and in full operation for more than 180 days with the intention of taking back
a lease on such property (except a lease for a term of no more than three years entered into with
the intent that the use by the Company or such Restricted Subsidiary of such property will be
discontinued on or before the expiration of such term) (herein referred to as a “Sale and Leaseback
Transaction”) unless either (a) the Company or such Restricted Subsidiary would be entitled,
pursuant to the provisions of Section 5.05 hereof, to incur Secured Debt equal in amount to the
amount realized or to be realized upon such sale or transfer secured by a Security Interest on the
property to be leased without equally and ratably securing the Debt Securities, or (b) the Company
or a Restricted Subsidiary shall apply an amount equal to the value of the property so leased to
the retirement (other than any mandatory retirement), within 120 days of the effective date of any
such arrangement, of Funded Debt as shown on the most recent consolidated balance sheet of the
Company and which, in the case of such Funded Debt of the Company, is not subordinate and junior in
right of payment to the prior payment of the Debt Securities; provided, however, that in lieu of
applying all or any part of such amount to such retirement, the Company may at its option (x)
deliver to the Trustee Debt Securities theretofore purchased or otherwise acquired by the Company,
or (y) receive credit for the Debt Securities theretofore redeemed at its option. If the Company
shall so deliver the Debt Securities to the Trustee (or receive credit for Debt Securities so
delivered), the amount which the Company shall be required to apply to the retirement of
indebtedness pursuant to this Section 5.06 shall be reduced by an amount equal to the aggregate
principal amount of such Debt Securities.




          The term “value” shall mean, with respect to a Sale and Leaseback Transaction, as of any
particular time, the amount equal to the greater of (i) the Capitalized Rent with respect thereto,
or (ii) the fair value of such property at the time of entering into such Sale and Leaseback
Transaction as determined by the Board of Directors.




          SECTION 5.07. Restrictions on Transfer of Principal Property to Unrestricted Subsidiaries.
So long as the Debt Securities of any series remain Outstanding, the Company will not itself, and
will not cause, suffer or permit any Restricted Subsidiary to, transfer (whether by merger,
consolidation or otherwise) any Principal Property to any Unrestricted Subsidiary, unless it shall
apply, within one year after the effective date of such transaction, or shall have committed within
one year after such effective date to apply, an




34









 







amount equal to the fair value of such Principal Property at the time of such transfer, as
determined by the Board of Directors, to (a) the acquisition, construction, development or
improvement of properties, facilities or equipment which are, or, upon, such acquisition,
construction, development or improvement will be, a Principal Property or Properties or a part
thereof, (b) the redemption of Debt Securities of any series in accordance with the provisions of
Article Four and at the redemption price referred to in Section 4.01 applicable at the time of such
redemption, (c) the repayment of Funded Debt of the Company or of any Restricted Subsidiary (other
than any Funded Debt owed to any Restricted Subsidiary), or in part to such acquisition,
construction, development or improvement and in part to such redemption and/or repayment; provided
that, in lieu of applying an amount equivalent to all or any part of such fair value to such
redemption, the Company may, within one year after such transfer, deliver to the Trustee Debt
Securities (other than Debt Securities made the basis of reduction in a mandatory sinking fund
payment pursuant to Section 4.05) for cancellation and thereby reduce the amount to be applied to
the redemption of the Debt Securities of that series pursuant to clause (b) above by an amount
equivalent to the aggregate principal amount of the Debt Securities so delivered. Redemption of
Debt Securities pursuant to this Section 5.07 shall not be used as credits against mandatory
sinking fund payments.




          SECTION 5.08. Certificate to Trustee. So long as the Debt Securities of any series remain
Outstanding, the Company will deliver to the Trustee on or before 120 days after the end of each
fiscal year an Officers’ Certificate stating that in the course of the performance by the signers
of their duties as officers of the Company, they would normally have knowledge of any default by
the Company in the performance or fulfillment or observance of any covenants or agreements
contained herein during the preceding fiscal year, stating whether or not they have knowledge of
any such default and, if so, specifying each such default of which the signers have knowledge and
the nature thereof. The Officers’ Certificate need not comply with Section 15.05.




          SECTION 5.09. Waivers of Covenants. Anything in this Indenture to the contrary
notwithstanding, the Company may fail or omit, in respect of any series of Debt Securities, and in
any particular instance, to comply with a covenant, agreement or condition contained in Sections
5.02 and 5.04 (other than in 5.04(a)(1) and (2)) to 5.08, inclusive, if the Company shall have
obtained and filed with the Trustee before or after the time for such compliance the consent in
writing of the Holders of more than 50% in aggregate principal amount of the Debt Securities of the
series affected by such waiver at the time Outstanding, either waiving such compliance in such
instance or generally waiving compliance with such covenant or condition, but no such waiver shall
extend to or affect any obligation not expressly waived nor impair any right consequent thereon
and, until such waiver shall become effective, the obligations of the Company and the duties of the
Trustee in respect of any such covenant or condition shall remain in full force and effect.




35









 








ARTICLE SIX.




Holders’ Lists and Reports by the Company

and the Trustee.




          SECTION 6.01. Holders’ Lists. The Company covenants and agrees that it will furnish or cause
to be furnished to the Trustee, not more than 15 days after each Regular Record Date with respect
to the Debt Securities of any series, and at such other times as the Trustee may request in
writing, within 30 days after receipt by the Company of any such request, a list in such form as
the Trustee may reasonably require of the names and addresses of the Holders of Debt Securities of
such series as of a date not more than 15 days prior to the time such information is furnished;
provided, however, that no such list with respect to any particular series of Debt Securities need
be furnished at any such time if the Trustee is in possession thereof by reason of its acting as
the Debt Security registrar for such series designated under Section 3.06 or otherwise.




          SECTION 6.02. Preservation and Disclosure of Lists. (a) The Trustee shall preserve, in as
current a form as is reasonably practicable, all information as to the names and addresses of the
Holders of Debt Securities contained in the most recent list furnished to it as provided in Section
6.01 or received by the Trustee in the capacity of the Debt Security registrar (if so acting) under
Section 3.06. The Trustee may destroy any list furnished to it as provided in Section 6.01 upon
receipt of a new list so furnished.




          (b) The rights of Holders to communicate with other Holders with respect to their rights under
this Indenture or under the Debt Securities of any series or of all Debt Securities, and the
corresponding rights and duties of the Trustee, shall be as provided by the Trust Indenture Act of
1939.




          (c) Every Holder of Debt 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 of 1939.




          SECTION 6.03. Reports by the Company. The Company agrees to file with the Trustee and the
Commission, and transmit to Holders, such information, documents and other reports, and such
summaries thereof, as may be required pursuant to the Trust Indenture Act of 1939 at the times and
in the manner provided pursuant to such Act; provided that any such information, documents or
reports required to be filed with the Commission pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934, as amended, shall be filed with the Trustee within 15 days after the same is
so required to be filed with the Commission. Delivery of such reports, information and documents
to the Trustee is for informational purposes only, and the Trustee’s receipt of such shall not
constitute constructive notice of any information contained therein or determinable from
information contained therein, including the Company’s compliance with any of its covenants
hereunder (as to which the Trustee is entitled to conclusively rely exclusively on an Officers’
Certificate).




36









 








          SECTION 6.04. Reports by the Trustee. (a) The Trustee shall transmit to Holders such
reports concerning the Trustee and its actions under this Indenture as may be required pursuant to
the Trust Indenture Act of 1939 at the times and in the manner provided pursuant thereto. The
interval between transmissions of reports to be transmitted at intervals shall be twelve months or
such shorter time required by the Trust Indenture Act of 1939. If the Trust Indenture Act of 1939
does not specify the date on which a report is due, the such report shall be due on July 15 of each
year following the first issuance of Debt Securities.




          (b) A copy of each such report shall, at the time of such transmission to Holders, be filed by
the Trustee with each stock exchange upon which Debt Securities of any series are listed, with the
Commission and with the Company. The Company will notify the Trustee when the Debt Securities of
any series are listed on any stock exchange.




ARTICLE SEVEN.




Remedies of the Trustee and Holders

on Event of Default.




          SECTION 7.01. Events of Default. Event of Default, with respect to any series of Debt
Securities, wherever used herein, 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 such event is either inapplicable to a
particular series or it is specifically deleted or modified in the supplemental indenture under
which such series of Debt Securities is issued or in the form of Debt Security for such series:





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




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




     (c) default in the payment or satisfaction of any sinking fund payment
or analogous obligation, if any, with respect to the Debt Securities of such
series as and when the same shall become due and payable by the terms of the
Debt Securities of such series; or




     (d) failure on the part of the Company duly to observe or perform any
of the covenants, warrants or agreements on the part of the Company in
respect of the Debt Securities of such series in this Indenture (other than
a



37









 







covenant, warranty or agreement a default in whose performance or whose
breach is elsewhere in this Section specifically dealt with) continued for a
period of 75 days after the date on which written notice of such failure,
specifying such failure and requiring the same to be remedied, shall have
been given to the Company by the Trustee, by registered mail, or to the
Company and the Trustee by the Holders of at least 25% in aggregate
principal amount of the Outstanding Debt Securities of such series; or




     (e) an event of default with respect to any other series of Debt
Securities issued or hereafter issued pursuant to this Indenture or if
default shall be made (and shall not have been cured or waived) in the
payment of principal of or interest on any other obligation for borrowed
money of the Company beyond any period of grace with respect thereto if (i)
the aggregate principal amount (or, in the case of Original Issue Discount
Debt Securities, such portion of the principal amount as may be specified in
the terms of such indebtedness as due and payable upon acceleration) of any
such obligation in respect of which principal or interest is and remains in
default is in excess of $100,000,000 and (ii) the default in such payment is
not being contested by the Company in good faith and by appropriate
proceedings; provided, however, that subject to the provisions of Section
7.08 and Section 8.01 the Trustee shall not be charged with knowledge of any
such default unless written notice thereof shall have been given to the
Trustee by the Company, by the holders or an agent of the holders of any
such indebtedness, by the trustee then acting under any indenture or other
instrument under which such default shall have occurred, or by the Holders
of not less than 25% in aggregate principal amount of such series of Debt
Securities at the time Outstanding; or




     (f) a decree or order by a court having jurisdiction in the premises
shall have been entered adjudging the Company a bankrupt or insolvent, or
approving as properly filed a petition seeking reorganization of the Company
under the Federal bankruptcy laws or any other similar applicable Federal or
state law, and such decree or order shall have continued undischarged and
unstayed for a period of 60 days; or a decree or order of a court having
jurisdiction in the premises for the appointment of a receiver or liquidator
or trustee or assignee or other similar official in bankruptcy or insolvency
of the Company or of all or substantially all of its property, or for the
winding up or liquidation of its affairs, shall have been entered, and such
decree or order shall have continued undischarged and unstayed for a period
of 60 days; or




     (g) the Company shall institute proceedings to be adjudicated a
voluntary bankrupt, or shall consent to the filing of a bankruptcy
proceeding against it, or shall file a petition or answer or consent seeking
an arrangement or a reorganization under the Federal bankruptcy laws or



38









 







any other similar applicable Federal or state law, or shall consent to
the filing of any such petition, or shall consent to the appointment of a
receiver or liquidator or trustee or assignee or other similar official in
bankruptcy or insolvency of it or of all or substantially all of its
property, or shall make an assignment for the benefit of creditors, or shall
admit in writing its inability to pay its debts generally as they become
due; or




     (h) any other Event of Default provided in the supplemental indenture
under which such series of Debt Securities is issued or in the form of Debt
Security for such series;


then and in each and every such case, so long as such Event of Default with respect to any series
of Debt Securities for which there are Debt Securities Outstanding occurs and is continuing and
shall not have been remedied or waived to the extent permitted by the terms of this Indenture,
unless the principal of all of the Debt Securities of such series shall have already become due and
payable, either the Trustee or the Holders of not less than 25% in aggregate principal amount of
the Outstanding Debt Securities of such series, by notice in writing to the Company (and to the
Trustee if given by Holders), may declare the principal (or, if the Debt Securities of that series
are Original Issue Discount Debt Securities, such portion of the principal amount as may be
specified in the terms of that series) of all the Debt Securities of such series and the interest
accrued thereon to be due and payable immediately, and upon any such declaration the same shall
become and shall be immediately due and payable, anything in this Indenture or in the Debt
Securities of such series contained to the contrary notwithstanding. This provision, however, is
subject to the condition that if, at any time after the principal of the Debt Securities of such
series shall have been so declared due and payable, and before any judgment or decree for the
payment of the moneys due shall have been obtained or entered as hereinafter provided, the Company
shall pay or shall deposit with the Trustee a sum sufficient to pay in the currency in which the
Debt Securities of such series are payable all matured installments of interest upon all of the
Debt Securities and the principal of and premium, if any, on any and all Debt Securities of such
series which shall have become due otherwise than by such declaration (with interest on overdue
installments of interest to the extent that payment of such interest is enforceable under
applicable law and on such principal and premium, if any, at the rate borne by the Debt Securities
of such series or as otherwise provided in the form of Debt Security for such series, to the date
of such payment or deposit) and the expenses of the Trustee (subject to Section 8.06), and any and
all defaults under this Indenture, other than the nonpayment of principal of and accrued interest
on Debt Securities of such series which shall have become due by such declaration, shall have been
cured or shall have been waived in accordance with Section 7.07 or provision deemed by the Trustee
to be adequate shall have been made therefor — then and in every such case the Holders of at least
a majority in aggregate principal amount of the Debt Securities of such series then Outstanding, by
written notice to the Company and to the Trustee, may rescind and annul such declaration and its
consequences; but no such rescission and annulment shall extend to or shall affect any subsequent
default, or shall impair any right consequent thereon.




          In case the Trustee or any Holders shall have proceeded to enforce any right under this
Indenture and such proceedings shall have been discontinued or abandoned




39









 







because of such rescission and annulment or for any other reason or shall have been determined
adversely to the Trustee, then and in every such case the Company, the Trustee and the Holders
shall be restored respectively to their several positions and rights hereunder, and all rights,
remedies and powers of the Company, the Trustee and the Holders shall continue as though no such
proceeding had been taken.




          SECTION 7.02. Payment of Debt Securities Upon Default; Suit Therefor. The Company covenants
that (a) in case default shall be made in the payment of any installment of interest upon any Debt
Security of any series as and when the same shall become due and payable, and such default shall
have continued for a period of 30 days, or (b) in case default shall be made in the payment of the
principal of and premium, if any, on any Debt Security of any series as and when the same shall
have become due and payable, whether at maturity of the Debt Security or upon redemption or by
declaration or otherwise or (c) in case default shall be made in the making or satisfaction of any
sinking fund payment or analogous obligation with respect to the Debt Securities of any series when
the same becomes due by the terms of the Debt Securities of any series—then, upon demand of the
Trustee, the Company will pay to the Trustee, for the benefit of the Holders (or Holders of Debt
Securities of any such series in the case of clause (c) above), the whole amount that then shall
have become due and payable on any such Debt Security (or Debt Securities of any such series in the
case of clause (3) above) for principal and premium, if any, or interest, or both, as the case may
be, with interest upon the overdue principal and premium, if any, and (to the extent that payment
of such interest is enforceable under applicable law) upon the overdue installments of interest at
the rate borne by the Debt Securities of such series or as otherwise provided in the form of Debt
Security of such series; and, in addition thereto, such further amount as shall be sufficient to
cover the costs and expenses of collection, including a reasonable compensation to the Trustee, its
agents, attorneys and counsel, and any expenses or liabilities incurred and advances made by the
Trustee, except compensation or advances arising, or expenses or liabilities incurred, as a result
of the Trustee’s negligence or bad faith.




          Until such demand is made by the Trustee, the Company may pay the principal of and premium, if
any, and interest on the Debt Securities of any series to the Persons entitled thereto, whether or
not the principal of and premium, if any, and interest on the Debt Securities of such series are
overdue.




          In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee, in
its own name and as trustee of an express trust, shall be entitled and empowered to institute any
actions or proceedings at law or in equity for the collection of the sums so due and unpaid, and
may prosecute any such action or proceeding to judgment or final decree, and may enforce any such
judgment or final decree against the Company or any other obligor on such Debt Securities and
collect, in the manner provided by law out of the property of the Company or any other obligor on
such Debt Securities wherever situated, the moneys adjudged or decreed to be payable. If any Event
of Default with respect to any series of Debt Securities occurs and is continuing, the Trustee may
in its discretion proceed to protect and enforce its rights and the rights of the Holders of Debt
Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most
effectual to protect and enforce




40









 







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.




          In case there shall be pending proceedings for the bankruptcy or for the reorganization of the
Company or any other obligor on the Debt Securities of any series under the Federal bankruptcy laws
or any other applicable law, or in case a receiver or trustee shall have been appointed for the
property of the Company or such other obligor, or in the case of any other similar judicial
proceedings relative to the Company or other obligor upon the Debt Securities of any series, or to
the creditors or property of the Company or such other obligor, the Trustee, irrespective of
whether the principal of the Debt Securities of such series shall then be due and payable as
therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have
made any demand pursuant to the provisions of this Section 7.02, shall be entitled and empowered by
intervention in such proceedings or otherwise, (a) to file and prove a claim or claims for the
whole amount of principal and interest owing and unpaid in respect of the Debt Securities of such
series, and, in case of any judicial proceedings, to file such proofs of claim and other papers or
documents as may be necessary or advisable in order to have the claims of the Trustee and of the
Holders of the Debt Securities of such series allowed in such judicial proceedings relative to the
Company or any other obligor on such Debt Securities, its or their creditors, or its or their
property, (b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders
of any Debt Securities of any series in any election of a trustee or a standby trustee in
arrangement, reorganization, liquidation or other bankruptcy or insolvency proceedings or person
performing similar functions in comparable proceedings, and (c) to collect and receive any moneys
or other property payable or deliverable on any such claims, and to distribute the same after the
deduction of its charges and expenses; and any receiver, assignee or trustee in bankruptcy or
reorganization is hereby authorized by each of the Holders of the Debt Securities of such series to
make such payments to the Trustee, and, in the event that the Trustee shall consent to the making
of such payments directly to such Holders, to pay to the Trustee such amount as shall be sufficient
to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other
expenses and liabilities incurred and advances made by the Trustee except compensation or advances
arising, or expenses or liabilities incurred, as a result of the Trustee’s negligence or bad faith.




          Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to
or accept, or adopt on behalf of any Holder any plan or reorganization, arrangement, adjustment or
composition affecting the Debt Securities or the rights of any Holder thereof, or to authorize the
Trustee to vote in respect of the claim of any Holder (except, as aforesaid, for the election of a
trustee in bankruptcy or other Person performing similar functions) in any such proceeding.




          All rights of action and of asserting claims under this Indenture, or under any of the Debt
Securities of any series, may be enforced by the Trustee without the possession of any of such Debt
Securities, or the production thereof on any trial or other proceeding relative thereto, and any
such suit or proceeding instituted by the Trustee shall be brought in its own name as trustee of an
express trust, and any recovery of judgment shall be for the ratable benefit




41









 







of the Holders of the Debt Securities of such series in respect of which such judgment has
been recovered.




          In any proceedings brought by the Trustee (and also any proceedings involving the
interpretation of any provision of this Indenture to which the Trustee shall be a party), the
Trustee shall be held to represent all the Holders of the Debt Securities in respect to which such
action was taken, and it shall not be necessary to make any Holders of such Debt Securities parties
to any such proceedings.




          SECTION 7.03. Application of Moneys Collected by Trustee. Any moneys collected by the
Trustee pursuant to Section 7.02 shall be applied in the order following, at the date or dates
fixed by the Trustee for the distribution of such moneys, upon presentation of the Debt Securities
of such series, and stamping thereon the payment, if only partially paid, and upon surrender
thereof, if fully paid:





     FIRST: To the payment of costs and expenses of collection and
reasonable compensation to the Trustee, its agents, attorneys and counsel,
and of all other expenses and liabilities incurred, and all advances made,
by the Trustee except compensation or advances arising, or expenses or
liabilities incurred, as a result of its negligence or bad faith, and any
other amounts owing the Trustee under Section 8.06;




     SECOND: In case the principal of the Debt Securities of such series
shall not have become due and be unpaid, to the payment of interest on such
Debt Securities, in the order of the maturity of the installments of such
interest, with interest (to the extent that such interest has been collected
by the Trustee) upon the overdue installments of interest at the rate borne
by such Debt Securities, such payments to be made ratable to the Persons
entitled thereto;




     THIRD: In case the principal of the Debt Securities of such series
shall have become due, by declaration or otherwise, to the payment of the
whole amount then owing and unpaid upon such Debt Securities for principal
and premium, if any, and interest, with interest on the overdue principal
and premium, if any, and (to the extent that such interest has been
collected by the Trustee) upon overdue installments of interest at the rate
borne by such Debt Securities; and in case such moneys shall be insufficient
to pay in full the whole amounts so due and unpaid upon such Debt
Securities, then, to the payment of such principal and premium, if any, and
interest without preference or priority of principal and premium, if any,
over interest, or of interest over principal and premium, if any, or of any
installment of interest over any other installment of interest, or of any
Debt Security of such series over any other such Debt Security, ratably to
the aggregate of such principal and premium, if any, and accrued and unpaid
interest;



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FOURTH: To the payment of any surplus then remaining to the Company,
its successors or assigns, or to whomsoever may be lawfully entitled to
receive the same.



          SECTION 7.04. Proceedings by Holders. No Holder of any Debt Security of any series shall have
any right by virtue of or by availing of any provision of this Indenture to institute any suit,
action or proceeding in equity or at law or in bankruptcy or otherwise upon or under or with
respect to this Indenture or for the appointment of a receiver or trustee, or for any other remedy
hereunder, unless such Holder previously shall have given to the Trustee written notice of default
and of the continuance thereof, as hereinbefore provided, and unless also the Holders of not less
than 25% in aggregate principal amount of the Debt Securities of such series then Outstanding shall
have made written request upon the Trustee to institute such action, suit or proceeding in its own
name as Trustee hereunder and shall have offered to the Trustee such reasonable indemnity as it may
require against the costs, expenses and liabilities to be incurred therein or thereby, and the
Trustee for 60 days after its receipt of such notice, request and offer of indemnity, shall have
neglected or refused to institute any such action, suit or proceeding (and no direction
inconsistent with such written request shall have been given to the Trustee pursuant to Section
7.07), it being understood and intended, and being expressly covenanted by the taker and Holder of
every Debt Security of every series with every other taker and Holder and the Trustee, that no one
or more Holders of Debt Securities 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
Holder of such Debt Securities, or to obtain or seek to obtain priority over or preference to any
other such Holder, or to enforce any right under this Indenture, except in the manner herein
provided and for the equal, ratable and common benefit of all Holders of Debt Securities.




          SECTION 7.05. Proceedings by Trustee. In case of an Event of Default hereunder the Trustee
may in its discretion proceed to protect and enforce the rights vested in it by this Indenture by
such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and
enforce any of such rights, either by suit in equity or by action at law or by proceeding in
bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement
contained in this Indenture or in aid of the exercise of any power granted in this Indenture, or to
enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.




          SECTION 7.06. Remedies Cumulative and Continuing. All powers and remedies given by this
Article Seven to the Trustee or to the Holders shall, to the extent permitted by law, be deemed
cumulative and not exclusive of any thereof or of any other powers and remedies available to the
Trustee or the Holders, by judicial proceedings or otherwise, to enforce the performance or
observance of the covenants and agreements contained in this Indenture, and no delay or omission of
the Trustee or of any Holder to exercise any right or power accruing upon any default occurring and
continuing as aforesaid shall impair any such right or power, or shall be construed to be a waiver
of any such default or an acquiescence therein; and, subject to the provisions of Section 7.04,
every power and remedy given by this




43









 







Article Seven or by law to the Trustee or to the Holders may be exercised from time to time,
and as often as shall be deemed expedient, by the Trustee or by the Holders.




          SECTION 7.07. Direction of Proceedings and Waiver of Defaults by Majority of Holders. The
Holders of a majority in aggregate principal amount of the Outstanding Debt 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 Debt Securities by this Indenture; provided, however, that (subject to the
provisions of Section 8.01) the Trustee shall have the right to decline to follow any such
direction if the Trustee shall determine upon advice of counsel that the action or proceeding so
directed may not lawfully be taken or would be materially and unjustly prejudicial to the rights of
Holders not joining in such direction or if the Trustee in good faith by its board of directors or
trustees, executive committee, or a trust committee of directors or trustees and/or Responsible
Officers shall determine that the action or proceeding 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 would be unduly prejudicial to the
interests of Holders of the Debt Securities of all series not joining in the giving of said
direction, it being understood that (subject to Section 8.01) the Trustee shall have no duty to
ascertain whether or not such actions or forebearances are duly prejudicial to such Holders. The
Trustee may take any other action deemed proper by the Trustee not inconsistent with such
direction. Subject to Section 7.01, the Holders of a majority in aggregate principal amount of the
Outstanding Debt Securities of any series may on behalf of the Holders of all the Debt Securities
of such series waive any past default or Event of Default hereunder and its consequences except a
default in the payment of principal of or premium, if any, or interest on such Debt Securities, or
a default in the making of any sinking fund payment with respect to such Debt Securities. Upon any
such waiver the Company, the Trustee and the Holders of such Debt Securities shall be restored to
their former positions and rights hereunder, respectively; but no such waiver shall extend to any
subsequent or other default or Event of Default or impair any right consequent thereon. Whenever
any default or Event of Default shall have been waived as permitted by this Section 7.07, said
default or Event of Default shall for all purposes of the Debt Securities and this Indenture be
deemed to have been cured and to be not continuing.




          This Section 7.07 shall be in lieu of Sections 316(a)(1)(A) and 316(a)(1)(B) of the Trust
Indenture Act of 1939 and such Sections 316(a)(1)(A) and Section 316(a)(1)(B) are hereby expressly
excluded from this Indenture, as permitted by the Trust Indenture Act of 1939.




          SECTION 7.08. Notice of Defaults. The Trustee shall give the Holders notice of any default
hereunder as and to the extent provided by the Trust Indenture Act of 1939; provided, however, that
in the case of any default of the character specified in Section 7.07(d), no such notice to Holders
shall be given until at least 60 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.




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          SECTION 7.09. Undertaking to Pay Costs. In any suit for the enforcement of any right or
remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or
omitted by it as Trustee, a court may require any party litigant in such suit to file an
undertaking to pay the costs of such suit, and may assess costs against any such party litigant, in
the manner and to the extent provided in the Trust Indenture Act of 1939; provided that neither
this Section nor the Trust Indenture Act of 1939 shall be deemed to authorize any court to require
such an undertaking or to make such an assessment in any suit instituted by the Company, and any
provision of the Trust Indenture Act of 1939 to such effect is hereby expressly excluded from this
Indenture, as permitted by the Trust Indenture Act of 1939.




          SECTION 7.10. Unconditional Right of Holders to Receive Principal, Premium and Interest.
Notwithstanding any other provision in this Indenture, the Holder of any Debt Security shall have
the rights, which are absolute and unconditional, to receive payment of the principal of, premium,
if any, and (subject to Section 3.08) interest on such Debt Security on the respective Stated
Maturities expressed in such Debt Security (or in the case of redemption or repayment, on the date
for redemption or repayment, as the case may be) and to institute suit for the enforcement of any
such payment, and such rights shall not be impaired without the consent of such Holder.




ARTICLE EIGHT.




Concerning the Trustee.




          SECTION 8.01. Duties and Responsibilities of Trustee. The duties and responsibilities of the
Trustee shall be as provided by the Trust Indenture Act of 1939. Notwithstanding the foregoing, no
implied covenants or obligations, except as provided by the Trust Indenture Act of 1939, shall be
read into this Indenture against the Trustee, and no provision of this Indenture shall require the
Trustee to expend or risk its own funds or otherwise incur any financial liability in the
performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if
it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity
against such risk or liability is not reasonably assured to it. Whether or not therein expressly
so provided, every provision of this Indenture relating to the conduct or affecting the liability
of or affording protection to the Trustee shall be subject to the provisions of this Section.




          SECTION 8.02. Reliance on Documents, Opinions, etc. Subject to the provisions of Section
8.01,





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



45









 






     (b) any request, direction, order or demand of the Company mentioned
herein shall be sufficiently evidenced by an Officers’ Certificate (unless
otherwise evidence in respect thereof be herein specifically prescribed);
and any resolution of the Board of Directors may be evidenced to the Trustee
by a copy thereof certified by the Secretary or an Assistant Secretary of
the Company;




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




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




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




     (f) prior to the occurrence of an Event of Default with respect to the
Debt Securities of any series and after the curing or waiving of all Events
of Default with respect to such Debt Securities, the Trustee shall not be
bound to make any investigation into the facts or matters stated in any
resolution, certificate, statement, instrument, opinion, report, notice,
request, consent, order, approval, bond, debenture, note, or other paper or
document, unless requested in writing to do so by the Holders of not less
than a majority in principal amount of such Debt Securities then
Outstanding; provided, however, that the reasonable expenses of every such
investigation shall be paid by the Company or, if paid by the Trustee, shall
be repaid by the Company upon demand; and provided, further, that if the
payment within a reasonable time to the Trustee of the costs, expenses or
liabilities likely to be incurred by it in the making of such investigation
is, in the opinion of the Trustee, not reasonably assured to the Trustee by
the security afforded to it by the terms of this Indenture, the Trustee may
require reasonable indemnity against such expenses or liabilities as a
condition to so proceeding;




     (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 liable or responsible for any



46









 








misconduct, bad faith or negligence on the part of any agent or
attorney appointed with due care by it hereunder;




     
(h) the Trustee shall not be deemed to have knowledge of any default
or Event of Default unless a Responsible Officer of the Trustee has actual
knowledge thereof or Holders of greater than 50% of the outstanding
principal amount of Debt Securities of any series shall have notified the
Trustee thereof; and




     (i) the permissive rights of the Trustee enumerated herein shall not
be construed as duties.



          SECTION 8.03. No Responsibility for Recitals, etc. The recitals contained herein and in the
Debt Securities (except in the Trustee’s certificate of authentication) shall be taken as the
statements of the Company, and the Trustee assumes no responsibility for the correctness of the
same. The Trustee makes no representations as to the validity or sufficiency of this Indenture or
of the Debt Securities of any series. The Trustee represents that it is duly authorized to execute
and deliver this Indenture and perform its obligations hereunder. Neither the Trustee nor the
Authenticating Agent shall be accountable for the use or application by the Company or any Debt
Securities or the proceeds of any Debt Securities authenticated and delivered by the Trustee in
conformity with the provisions of this Indenture.




          SECTION 8.04. Trustee and Agents May Own Debt Securities. The Trustee, any paying agent, or
any agent of the Trustee or the Company under this Indenture, in its individual or any other
capacity, may become the owner or pledgee of Debt Securities of any series with the same rights it
would have if it were not Trustee or such agent and, subject to Sections 8.08 and 8.13, if
operative, may otherwise deal with the Company and receive, collect, hold, and retain collections
from the Company with the same rights it would have if it were not the Trustee or such agent.




          SECTION 8.05. Moneys to be Held in Trust. Subject to the provisions of Section 13.04, all
moneys received by the Trustee shall, until used or applied as herein provided, be held in trust
for the purposes for which they were received, but need not be segregated from other funds except
to the extent required by law. Neither the Trustee nor any paying agent shall be under any
liability for interest on any moneys received by it hereunder except such as it may agree with the
Company to pay thereon. So long as no Event of Default with respect to the Debt Securities of any
series shall have occurred and be continuing, all interest allowed on any such moneys shall be paid
from time to time upon the written order of the Company, signed by its President, its Chief
Financial Officer, any Vice President, its Treasurer or an Assistant Treasurer.




          SECTION 8.06. Compensation and Expenses of Trustee. The Company covenants and agrees to pay
to the Trustee from time to time, and the Trustee shall be entitled to, reasonable compensation
(which shall not be limited by any provision of law in regard to the compensation of a trustee of
an express trust), and the Company will pay or reimburse the Trustee upon its request for all
reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with
any of the provisions of this Indenture (including the




47









 







reasonable compensation and the expenses and disbursements of its counsel and all persons not
regularly in its employ and any amounts paid by the Trustee to any Authenticating Agent pursuant to
Section 8.14) except any such expense, disbursement or advance as may arise from its negligence or
bad faith. The Company also covenants to indemnify the Trustee for, and to hold it harmless
against, any loss, liability or expense incurred without negligence or bad faith on the part of the
Trustee and arising out of or in connection with the acceptance or administration of this trust, or
the performance of its duties hereunder, including the current payment of all costs and expenses of
defending itself against any claim of liability in the premises. The obligations of the Company
under this Section 8.06 to compensate and indemnify the Trustee and to pay or reimburse the Trustee
for expenses, disbursements and advances shall constitute additional indebtedness hereunder. Such
additional indebtedness shall be secured by a lien prior to that of the Debt Securities upon all
property and funds held or collected by the Trustee as such, except funds held in trust for the
benefit of the Holders of particular Debt Securities. When the Trustee incurs expenses or renders
services in connection with an Event of Default specified in Section 7.01(f) or Section 7.01(g), the
expenses (including the reasonable charges and expenses of its counsel) and the compensation for
the services are intended to constitute expenses of administration under any applicable Federal or
state bankruptcy, insolvency or other similar law. The provisions of this Section shall survive
the termination of this Indenture and the resignation or removal of the Trustee.




          SECTION 8.07. Officers’ Certificate as Evidence. Subject to the provisions of Section 8.01,
whenever in the administration of the provisions of this Indenture the Trustee shall deem it
necessary or desirable that a matter be proved or established prior to taking or omitting any
action hereunder, such matter (unless other evidence in respect thereof be herein specifically
prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to
be conclusively proved and established by an Officers’ Certificate delivered to the Trustee, and
such Certificate, in the absence of negligence or bad faith on the part of the Trustee, shall be
full warrant to the Trustee for any action taken or omitted by it under the provisions of this
Indenture upon the faith thereof.




          SECTION 8.08. Conflicting Interest of Trustee. If the Trustee has or shall acquire any
conflicting interest within the meaning of the Trust Indenture Act of 1939, the Trustee shall
either eliminate such conflicting interest or resign in the manner provided by, and subject to the
provisions of, the Trust Indenture Act of 1939 and this Indenture.




          SECTION 8.09. Eligibility of Trustee. There shall at all times be a Trustee with respect to
each series of Debt Securities hereunder which shall be a corporation organized and doing business
under the laws of the United States or any state or territory thereof or of the District of
Columbia authorized under such laws to exercise corporate trust power’s, having a combined capital
and surplus of at least $5,000,000, subject to supervision or examination by Federal, state,
territorial, or District of Columbia authority and having its principal office and place of
business in St. Paul, Minnesota, if there be such a corporation having its principal office and
place of business in said City and willing to act as Trustee hereunder. If such corporation
publishes reports of condition at least annually, pursuant to law or to the requirements of the
aforesaid supervising or examining authority, then for the purposes of




48









 







this Section 8.09, the combined capital and surplus of such corporation shall be deemed to be
its combined capital and surplus as set forth in its most recent report of condition so published.
In case at any time the Trustee with respect to any series of Debt Securities shall cease to be
eligible in accordance with the provisions of this Section 8.09, such Trustee shall resign
immediately in the manner and with the effect specified in Section 8.10.




          SECTION 8.10. Resignation or Removal of Trustee. (a) The Trustee may at any time resign with
respect to any series of Debt Securities by giving written notice by first class mail of such
resignation to the Company and to the Holders of such series of Debt Securities at their addresses
as they shall appear on the Debt Security Register. Upon receiving such notice of resignation, the
Company shall promptly appoint a successor trustee with respect to such series by written
instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument
shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor
trustee with respect to such series shall have been so appointed and have accepted appointment
within 60 days after the mailing of such notice of resignation to the Holders, the resigning
Trustee may, at the expense of the Company, petition any court of competent jurisdiction for the
appointment of a successor trustee, or any Holder of such series of Debt Securities who has been a
bona fide Holder of a Debt Security or Debt Securities of such series for at least six months may,
subject to the provisions of Section 7.09, on behalf of himself and all others similarly situated,
petition any such court for the appointment of a successor trustee with respect to such series.
Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint
such successor trustee.




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





     (1) the Trustee shall fail to comply with the provisions of subsection
(a) of Section 8.08 after written request therefor by the Company or by any
Holder who has been a bona fide Holder of a Debt Security or Debt Securities
of such series for at least six months, unless the Trustee’s duty to resign
is stayed in accordance with the provisions of Section 310(b) of the Trust
Indenture Act of 1939, or




     (2) the Trustee shall cease to be eligible in accordance with the
provisions of Section 8.09 and shall fail to resign after written request
therefor by the Company or by any such Holder of a note of such series, or




     (3) the Trustee shall become incapable of acting with respect to any
series of Debt Securities, 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, the Company may remove the Trustee with respect to such series and appoint
a successor trustee for such series by written instrument, in duplicate, executed on instruction of
the President, The Chief Financial Officer or the Treasurer of the Company, one copy of which
instrument shall be delivered to the Trustee so removed and one copy to the


49









 






successor trustee, or, subject to the provisions of Section 7.09, any Holder who has been a bona
fide Holder of a Debt Security or Debt Securities of such series for at least six months may, on
behalf of himself and all others similarly situated, petition any court of competent jurisdiction
for the removal of the Trustee and the appointment of a successor trustee with respect to such
series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe,
remove such Trustee and appoint such successor trustee.




          (c) The Holders of a majority in aggregate principal amount of the Outstanding Debt Securities
of any series may at any time remove the Trustee with respect to such series by delivering to the
Trustee so removed, to the successor trustee so appointed and to the Company the evidence provided
for in Section 9.01 of the action in that regard taken by the Holders, and nominate a successor
Trustee which shall be deemed appointed as successor Trustee unless within ten days after such
nomination the Company objects thereto, in which case the Trustee so removed or any Holder of a
Debt Security or Debt Securities of such series, upon the terms and conditions and otherwise as in
subsection (a) of this Section 8.10 provided, may petition any court of competent jurisdiction for
an appointment of a successor Trustee with respect to such series.




          (d) Any resignation or removal of the Trustee with respect to all or any series of Debt
Securities and any appointment of a successor Trustee pursuant to any of the provisions of this
Section 8.10 shall become effective upon acceptance of appointment by the successor Trustee as
provided in Section 8.11.




          SECTION 8.11. Acceptance by Successor Trustee. Any successor Trustee appointed as provided
in Section 8.10 shall execute, acknowledge and deliver to the Company and to its predecessor
Trustee an instrument accepting such appointment hereunder, and thereupon the resignation or
removal of the predecessor Trustee shall become effective with respect to all or any series as to
which it is resigning as Trustee, and such successor Trustee, without any further act, deed or
conveyance, shall become vested with all the rights, powers, duties and obligations of its
predecessor hereunder with respect to all or any such series, with like effect as if originally
named as Trustee herein with respect to all or any such series; nevertheless, on the written
request of the Company or of the successor Trustee, the Trustee ceasing to act shall, upon payment
of any amounts then due it pursuant to the provisions of Section 8.06, execute and deliver an
instrument transferring to such successor Trustee all the rights and powers of the Trustee with
respect to all or any such series so ceasing to act. Upon request of any such successor Trustee,
the Company shall execute any and all instruments in writing for more fully and certainly vesting
in and confirming to such successor Trustee all such rights and powers. Any Trustee ceasing to act
shall, nevertheless, retain a lien upon all property or funds held or collected by such Trustee
with respect to all or any series as to which it is resigning as Trustee, to secure any amounts and
shall be entitled to any indemnities then due it pursuant to the provisions of Section 8.06.




          No successor Trustee shall accept appointment as provided in this Section 8.11 unless at the
time of such acceptance such successor Trustee shall be qualified under the provisions of Section
8.08 and eligible under the provisions of Section 8.09.




50









 








          Upon acceptance of appointment by a successor Trustee with respect to all or any series of
Debt Securities as provided in this Section 8.11, the Company shall mail notice of the succession
of such Trustee hereunder to the Holders of Debt Securities of such series at their addresses as
they shall appear on the Debt Security Register. If the Company fails to mail such notice within
ten days after acceptance of appointment by the successor Trustee, the successor Trustee shall
cause such notice to be mailed at the expense of the Company.




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




          SECTION 8.12. Succession by Merger, etc. Subject to Sections 8.08 and 8.09, 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 the corporate trust business of the Trustee, shall be the
successor of the Trustee hereunder without the execution or filing of any paper or any further act
on the part of any of the parties hereto.




          In case at the time any successor to the Trustee shall succeed to the trusts created by this
Indenture any of the Debt Securities shall have been authenticated but not delivered, any such
successor to the Trustee may adopt the certificate of authentication of any predecessor Trustee,
and deliver such Debt Securities so authenticated; and in case at that time any of the Debt
Securities shall not have been authenticated, any successor to the Trustee may authenticate such
Debt Securities either in the name of such successor Trustee or, if such successor Trustee is a
successor by merger, conversion or consolidation, the name of any predecessor hereunder; and in all
such cases such certificate shall have the full force which it is anywhere in the Debt Securities
or in this Indenture provided that the certificate of the Trustee shall have.




          SECTION 8.13. Limitation on Rights of Trustee as a Creditor. 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 of 1939 regarding the collection of
claims against the Company (or any such other obligor).




          SECTION 8.14. Authenticating Agents. There may be an Authenticating Agent or Authenticating
Agents appointed by the Trustee from time to time with power to act on




51









 







its behalf and subject to its direction in the authentication and delivery of any series of
Debt Securities issued upon original issuance, exchange, transfer or redemption thereof as fully to
all intents and purposes as though such Authenticating Agent (or Authenticating Agents) had been
expressly authorized to authenticate and deliver such Debt Securities, and Debt Securities so
authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory
for all purposes as though authenticated by the Trustee hereunder. For all purposes of this
Indenture, the authentication and delivery of Debt Securities by any Authenticating Agent pursuant
to this Section 8.14 shall be deemed to be the authentication and delivery of such Debt Securities
“by the Trustee”, and whenever this Indenture provides that “the Trustee shall authenticate and
deliver” Debt Securities or that Debt Securities “shall have been authenticated and delivered by
the Trustee”, such authentication and delivery by any Authenticating Agent shall be deemed to be
authentication and delivery by the Trustee. Any such Authenticating Agent shall at all times be a
corporation organized and doing business under the laws of the United States of America or of any
State or Territory or the District of Columbia, with a combined capital and surplus of at least
$5,000,000 and authorized under such laws to act as an authenticating agent, duly registered to act
as such, if and to the extent required by applicable law and subject to supervision or examination
by Federal or State authority. If such corporation publishes reports of its condition at least
annually pursuant to law or the requirements of such authority, then for the purposes of this
Section 8.14 the combined capital and surplus of such corporation shall be deemed to be its
combined capital and surplus as set forth in its most recent report of condition so published. If
at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of
this Section 8.14, or to be duly registered if and to the extent required by applicable law and
regulations, it shall resign immediately in the manner and with the effect herein specified in this
Section 8.14.




          Whenever reference is made in this Indenture to the authentication and delivery of Debt
Securities of any series 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 its
Authenticating Agent appointed with respect to the Debt Securities of such series and a certificate
of authentication executed on behalf of the Trustee by its Authenticating Agent appointed with
respect to the Debt Securities of such series.




          Any corporation into which any Authenticating Agent may be merged or converted or with which
it may be consolidated, or any corporation resulting from any merger, consolidation or conversion
to which any Authenticating Agent shall be a party, or any corporation succeeding to the
authenticating agency business of any Authenticating Agent, shall be the successor of such
Authenticating Agent hereunder, if such successor corporation is otherwise eligible under this
Section 8.14, without the execution or filing of any paper or any further act on the part of the
parties hereto or such Authenticating Agent or such successor corporation.




          In case at the time such successor to any such agency shall succeed to such agency any of the
Debt Securities shall have been authenticated but not delivered, any such successor to such
Authenticating Agent may adopt the certificate of authentication of any predecessor Authenticating
Agent and deliver such Debt Securities so authenticated; and in case




52









 







at that time any of the Debt Securities shall not have been authenticated, any successor to
any Authenticating Agent may authenticate such Debt Securities either in the name of any
predecessor hereunder or in the name of the successor Authenticating Agent; and in all cases such
certificate shall have the full force which it has anywhere in the Debt Securities or in this
Indenture provided that the certificate of the predecessor Authenticating Agent shall have had such
force; provided, however, that the right to adopt the certificate of authentication of any
predecessor Authenticating Agent or to authenticate Debt Securities in the name of any predecessor
Authenticating Agent shall apply only to its successor or successors by merger, conversion or
consolidation.




          Any Authenticating Agent may at any time resign as Authenticating Agent with respect to any
series of Debt Securities by giving written notice of resignation to the Trustee and to the
Company. The Trustee may at any time terminate the agency of any Authenticating Agent with respect
to any series of Debt Securities by giving written notice of termination 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 Authenticating Agent shall cease to be eligible under this Section 8.14, the
Trustee may, and shall, upon request of the Company, promptly use its best efforts to appoint a
successor Authenticating Agent.




          Upon the appointment, at any time after the original issuance of any of the Debt Securities,
of any successor, additional or new Authenticating Agent, the Trustee shall give written notice of
such appointment to the Company and shall at the expense of the Company mail notice of such
appointment to all Holders of Debt Securities of such series as the names and addresses of such
Holders appear on the Debt Security Register.




          Any successor Authenticating Agent with respect to any series of Debt Securities upon
acceptance of its appointment hereunder shall become vested with all the rights, powers and duties
of its predecessor hereunder, with like effect as though originally named as an Authenticating
Agent herein with respect to such series. No successor Authenticating Agent shall be appointed
unless eligible under the provisions of this Section 8.14 and duly registered if and to the extent
required under applicable law and regulations.




          Any Authenticating Agent by the acceptance of its appointment with respect to any series of
Debt Securities shall be deemed to have agreed with the Trustee that: it will perform and carry out
the duties of an Authenticating Agent as herein set forth with respect to such series, including
among other things the duties to authenticate and deliver Debt Securities when presented to it in
connection with exchanges, registrations of transfer or redemptions thereof; it will keep and
maintain, and furnish to the Trustee from time to time as requested by the Trustee appropriate
records of all transactions carried out by it as Authenticating Agent and will furnish the Trustee
such other information and reports as the Trustee may reasonably require; it is eligible for
appointment as Authenticating Agent under this Section 8.14 and will notify the Trustee promptly if
it shall cease to be so qualified; and it will indemnify the Trustee against any loss, liability or
expense incurred by the Trustee and will defend any claim asserted against the Trustee by reason of
any acts or failures to act of the Authenticating Agent with




53









 







respect to such series but it shall have no liability for any action taken by it at the
specific written direction of the Trustee.




          The Company agrees to pay to each Authenticating Agent from time to time reasonable
compensation and expenses for its services, and the Trustee shall have no liability for such
payments.




          The provisions of Sections 8.02(a), (b), (c), (e) and (f), 8.03, 8.04, 8.06 (insofar as it
pertains to indemnification), 9.01, 9.02 and 9.03 shall bind and inure to the benefit of each
Authenticating Agent to the same extent that they bind and inure to the benefit of the Trustee.




          If an appointment with respect to one or more series is made pursuant to this Section 8.14,
the Debt 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:





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




	 	 	 
	JPMORGAN CHASE BANK, N.A.,

	 	JPMORGAN CHASE BANK, N.A.
	As Trustee

	 	As Trustee






- OR -




	 	 	 
	By:                                                            

	 	By:     JPMorgan Chase Bank, N.A.
	Authorized Officer

	 	As Authenticating Agent






	 	 	 
	 

	 	By:                                                            
	 

	 	          Authorized Officer






ARTICLE NINE.




Concerning the Holders.




          SECTION 9.01. Action by Holders. Whenever in this Indenture it is provided that the Holders
of a specified percentage in aggregate principal amount of the Debt Securities of any series may
take any action (including the making of any demand or request, the giving of any notice, consent
or waiver or the taking of any other action) the fact that at the time of taking any such action
the Holders of such specified percentage of such series have joined therein may be evidenced (a) by
any instrument or any number of instruments of similar tenor executed by Holders of such series in
person or by agent or proxy appointed in writing, or (b) by the record of the Holders of such
series voting in favor thereof at any meeting of such Holders duly called and held in accordance
with the provisions of Article Ten, or (c) by a combination of such instrument or instruments and
any such record of such a meeting of Holders of such series.




          SECTION 9.02. Proof of Execution by Holders. Subject to the provisions of Sections 8.01,
8.02 and 10.05, proof of the execution of any instrument by a Holder or his agent or proxy shall be
sufficient if made in accordance with such reasonable rules and regulations as may be prescribed by
the Trustee or in such manner as shall be satisfactory to the Trustee. The ownership of Debt
Securities shall be provided by the Debt Security Register or by a certificate of the Debt Security
registrar with respect to a series of Debt Securities.




          The record of any Holders’ meeting shall be proved in the manner provided in Section 10.06.




          SECTION 9.03. Who Are Deemed Absolute Owners. The Company, the Trustee with respect to a
series of Debt Securities, and any agent of the Trustee or the Company under this Indenture may
deem the Person in whose name such Debt Security shall be registered




55









 







upon the Debt Security Register to be, and may treat him as, the absolute owner of such Debt
Security (whether or not such Debt Security shall be overdue and notwithstanding any notation of
ownership or other writing thereon made by anyone other than the Company, the Trustee or any such
agent) for the purpose of receiving payment of or on account of the principal of and premium, if
any, and interest on such Debt Security and for all other purposes; and neither the Company nor the
Trustee nor any such agent shall be affected by any notice to the contrary. All such payments so
made to any Holder for the time being or upon his order shall, to the extent of the sum or sums so
paid, be effectual to satisfy and discharge the liability for moneys payable upon any such Debt
Security.




          SECTION 9.04. Company-Owned Debt Securities Disregarded. In determining whether the Holders
of the requisite aggregate principal amount of Debt Securities of any series have concurred in any
direction or consent under this Indenture, Debt Securities of such series which are owned by the
Company or any other obligor on the Debt Securities of such series or by any Person directly or
indirectly controlling or controlled by or under direct or indirect common control with the Company
or any other obligor on such Debt Securities shall be disregarded and deemed not to be Outstanding
for the propose of any such determinations; provided, however, that for the purposes of determining
whether the Trustee shall be protected in relying on any such direction or consent only such Debt
Securities which a Responsible Officer of the Trustee knows are so owned shall be so disregarded.
Debt Securities so owned which have been pledged in good faith may be regarded as Outstanding
notwithstanding this Section 9.04 if the pledgee shall establish to the satisfaction of the Trustee
the right of the pledgee to vote such Debt Securities and that the pledgee is not a Person directly
or indirectly controlling or controlled by or under direct or indirect common control with the
Company or any such other obligor. Upon request of the Trustee, the Company shall furnish to the
Trustee promptly an Officer’s Certificate listing and identifying all Debt Securities of a series,
if any, known by the Company to be owned or held by or for the account of the Company or any other
obligor on such Debt Securities or by any Person directly or indirectly controlling or controlled
by or under direct or indirect common control with the Company or any other obligor on such Debt
Securities; and, subject to the provisions of Section 8.01, the Trustee shall be entitled to accept
such Officers’ Certificates as conclusive evidence of the facts therein set forth and of the fact
that all such Debt Securities not listed therein are Outstanding for the purpose of any such
determination.




          SECTION 9.05. Revocation of Consents; Future Holders Bound. At any time prior to (but not
after) the evidencing to the Trustee, as provided in Section 9.01, of the taking of any action by
the Holders of the percentage in aggregate principal amount of the Debt Securities of any series
specified in this Indenture in connection with such action, any Holder of a Debt Security which is
shown by the evidence to be included in the Debt Securities the Holders of which have consented to
or are bound by consents to such action, may, by filing written notice with the Trustee at its
principal office and upon proof of holding as provided in Section 9.02, revoke such action so far
as concerns such Debt Security. Except as aforesaid any such action taken by the Holder of any
Debt Security shall be conclusive and binding upon such Holder and upon all future Holders and
owners of such Debt Security and of any Debt Security issued on transfer thereof or in exchange or
substitution therefor, irrespective of whether or not any




56









 







notation in regard thereto is made upon any such Debt Security. Any action taken by the
Holders of the percentage in aggregate principal amount of the Debt Securities specified in this
Indenture in connection with such action shall be conclusively binding upon the Company, the
Trustee and the Holders of all of the Debt Securities affected by such action.




ARTICLE TEN




Holders’ Meetings.




          SECTION 10.01. Purposes of Meetings. A meeting of Holders of the Debt Securities of all or
any series may be called at any time and from time to time pursuant to the provisions of this
Article Ten for any of the following purposes:





     (1) to give any notice to the Company or to the Trustee with respect
to such series, or to give any directions to the Trustee, or to consent to
the waiving of any default hereunder and its consequences, or to take any
other action authorized to be taken by Holders pursuant to any of the
provisions of Article Seven;




     (2) to remove the Trustee and nominate a successor trustee pursuant to
the provisions of Article Eight;




     (3) to consent to the execution of an indenture or indentures
supplemental hereto pursuant to the provisions of Section 11.02; or




     (4) to take any other action authorized to be taken by or on behalf of
the Holders of any specified aggregate principal amount of the Debt
Securities of all or any series, as the case may be, under any other
provision of this Indenture or under applicable law.



          SECTION 10.02. Call of Meetings by Trustee. The Trustee may at any time call a meeting of
Holders of Debt Securities of all or any series to take any action specified in Section 10.01, to
be held at such time and at such place as the Trustee shall determine. Notice of every meeting of
the Holders of Debt Securities of all or any series, setting forth the time and place of such
meeting and in general terms the action proposed to be taken at such meeting, shall be mailed by
the Trustee to Holders of Debt Securities of each series that may be affected by the action
proposed to be taken at such meeting at their addresses as they shall appear on the Debt Security
Register. Such notice shall be mailed not less than 20 nor more than 90 days prior to the date
fixed for the meeting.




          SECTION 10.03. Call of Meetings by Company or Holders. In case at any time the Company,
pursuant to a resolution by the Board of Directors, or the Holders of at least 10% in aggregate
principal amount of the Debt Securities then Outstanding of each series that may be affected by the
action proposed to be taken shall have requested the Trustee to call a meeting of such Holders, by
written request setting forth in reasonable detail the action proposed



57









 







to be taken at the meeting, and the Trustee shall not have mailed the notice of such meeting
within 20 days after receipt of such request, then the Company or such Holders may determine the
time and place for such meeting and may call such meeting to take any action authorized in Section
10.01, by mailing notice thereof as provided in Section 10.02.



          SECTION 10.04. Qualifications for Voting. To be entitled to vote at any meeting of Holders
of Debt Securities a person shall (a) be a Holder of one or more Debt Securities of a series
affected by the action proposed to be taken or (b) be a Person appointed by an instrument in
writing as proxy by a Holder of one or more such Debt Securities. The rights of Holders of Debt
Securities to have their votes counted shall be subject to the provision in the definition of
“Outstanding” in Section 1.01. The only Persons who shall be entitled to be present or to speak at
any meeting of Holders of Debt Securities 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 10.05. Regulations. 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
Debt Securities, in regard to proof of the holding of Debt Securities and of the appointment of
proxies, and in regard to the appointment and duties of inspectors of votes, the submission and
examination of proxies, certificates and other evidence of the right to vote, and such other
matters concerning the conduct of the meeting as it shall think fit. Except as otherwise permitted
or required by any such regulation, the holding of Debt Securities shall be proved in the manner
specified in Section 9.02 and the appointment of any proxy shall be proved in the manner specified
in said Section 9.02 or by having the signature of the Person executing the proxy witnessed or
guaranteed by any bank, broker or trust company.




          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 Debt Securities as
provided in Section 10.03, in which case the Company or the Holders of Debt Securities as provided
in Section 10.03, in which case the Company or the Holders of Debt Securities calling the meeting,
as the case may be, shall in like manner appoint a temporary chairman. A permanent chairman and a
secretary of the meeting shall be elected by vote of the Holders of a majority in aggregate
principal amount of the Debt Securities represented at the meeting and entitled to vote.




          Subject to the provisions of Section 9.04, at any meeting each Holder of a Debt Security of a
series entitled to vote at such meeting or proxy shall be entitled to one vote for each $1,000
principal amount of Debt 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 Debt 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 Debt Securities of such series or proxy
therefor. Any meeting of Holders of Debt Securities duly called pursuant to the provisions of
Section 10.02 or 10.03 may be adjourned from time to time and the meeting may be held as so
adjourned without further notice.




58









 








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




          SECTION 10.06. Voting. The vote upon any resolution submitted to any meeting of Holders of
Debt Securities shall be by written ballots on which shall be subscribed the signatures of the
holders of Debt Securities entitled to vote at such meeting or of their representatives by proxy,
and the letter or letters, serial number or numbers or other distinguishing marks of the Debt
Securities held or represented by him. The permanent chairman of the meeting shall appoint two
inspectors of votes who shall count all votes cast at the meeting for or against any resolution and
who shall make and file with the secretary of the meeting their verified written reports in
duplicate of all votes cast at the meeting. A record in duplicate of the proceedings of each
meeting of Holders of Debt Securities 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 mailed as provided in
Section 10.02. The record shall be signed and verified by the affidavits of the permanent chairman
and secretary of the meeting and one of the duplicates shall be delivered to the Company and the
other to the Trustee to be 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.




          SECTION 10.07. No Delay of Rights by Meeting. Nothing in this Article Ten contained shall be
deemed or construed to authorize or permit, by reason of any call of a meeting of Holders of Debt
Securities of any or all series or any rights expressly or impliedly conferred hereunder to make
such call, any hindrance or delay in the exercise of any right or rights conferred upon or reserved
to the Trustee or to the Holders of Debt Securities under any of the provisions of this Indenture
or of the Debt Securities.




ARTICLE ELEVEN.




Supplemental Indentures.




          SECTION 11.01 Supplemental Indentures without Consent of Holders. The Company, when
authorized by a Board Resolution, and the Trustee may from time to time and at any time enter into
an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust
Indenture Act of 1939 as in force at the date of the execution thereof) for one or more of the
following purposes:




59









 









     (a) to evidence the succession of another corporation to the Company,
or successive successions, and the assumption by the successor corporation
of the covenants, agreements and obligations of the Company pursuant to
Articles Five and Twelve hereof;




     (b) to add to the covenants of the Company such further covenants,
restrictions, conditions or provisions as the Board of Directors and the
Trustee shall consider to be for the protection of the Holders of Debt
Securities of any or all series, and to make the occurrence, or the
occurrence and continuance, of a default in any of such additional
covenants, restrictions, conditions or provisions a default or an Event of
Default with respect to such series permitting the enforcement of all or any
of the several remedies provided in this Indenture as herein set forth;
provided, however, that in respect of any such additional covenant,
restriction or condition, such supplemental indenture may provide for a
particular period of grace after default (which period may be shorter or
longer than that allowed in the case of other defaults) or may provide for
an immediate enforcement upon such default or may limit the remedies
available to the Trustee upon such default;




     (c) to cure any ambiguity or to correct or supplement any provision
contained herein or in any supplemental indenture which may be defective or
inconsistent with any other provision contained herein or in any
supplemental indenture; to convey, transfer, assign, mortgage or pledge any
property to or with the Trustee; or to make such other provisions in regard
to matters or questions arising under this Indenture as shall not adversely
affect the interests of the Holders of the Debt Securities;




     (d) to secure the Debt Securities of all series in accordance with the
provisions of Sections 5.05;




     (e) to evidence and provide for the acceptance of appointment by
another corporation as a successor Trustee hereunder with respect to one or
more series of Debt Securities and to add to or change any of the provisions
of this Indenture as shall be necessary to provide for or facilitate the
administration of the trusts hereunder by more than one Trustee, pursuant to
Section 8.11;




     (f) to modify, amend or supplement this Indenture in such a manner as
to permit the qualification of any indenture supplemental hereto under the
Trust Indenture Act of 1939 as then in effect, except that nothing herein
contained shall permit or authorize the inclusion in any indenture
supplemental hereto of the provisions referred to in Section 316(a)(2) of
the Trust Indenture Act of 1939;



60









 






     (g) to provide for the issuance under this Indenture of Debt
Securities in coupon form (including Debt Securities registrable as to
principal only) and to provide for exchangeability of such Debt Securities
with Debt Securities of the same series issued hereunder in fully registered
form and to make all appropriate changes for such purpose;




     (h) to change or eliminate any of the provisions of this Indenture,
provided, however, that any such change or elimination shall become
effective only when there is no Debt Security Outstanding of any series
created prior to the execution of such supplemental indenture which is
entitled to the benefit of such provision; or




     (i) to establish any additional form of Debt Security, as permitted by
Section 2.02, and to provide for the issuance of any additional series of
Debt Securities, as permitted by Section 3.01, and to set forth the terms
thereof.



          The Trustee is hereby required to join with the Company in the execution of any such
supplemental indenture, to make any further appropriate agreements and stipulations which may be
therein contained and to accept the conveyance, transfer, assignment, mortgage or pledge of any
property thereunder, but the Trustee shall not be obligated to enter into any such supplemental
indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or
otherwise.




          Any supplemental indenture authorized by the provisions of this Section 11.01 may be executed
by the Company and the Trustee without the consent of the Holders of any of the Debt Securities at
the time Outstanding, notwithstanding any of the provisions of Section 11.02.




          SECTION 11.02. Supplemental Indentures with Consent of Holders. With the consent (evidenced
as provided in Section 9.01) of the Holders of greater than 50% in aggregate principal amount of
the Outstanding Debt Securities of each series affected by such supplemental indenture (all such
Holders voting as a single class), by act of said Holders delivered to the Company and the Trustee,
the Company, when authorized by a Board Resolution, and the Trustee may from time to time and at
any time enter into an indenture or indentures supplemental hereto for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of this Indenture or
of any supplemental indenture or of modifying in any manner the rights of the Holders of the Debt
Securities of each series under this Indenture; provided, however, that no such supplemental
indenture shall (i) without the consent of the Holder of each Outstanding Debt Security affected
thereby, extend the fixed maturity of any Debt Security, or reduce the rate or extend the time of
payment of interest thereon, or reduce the principal amount thereof or any premium thereon, or make
the principal thereof or interest or premium thereon payable in any coin or currency other than
that provided in the Debt Securities or (ii) without the consent of the Holders of all of the
Outstanding Debt Securities of each series affected reduce the aforesaid percentage of Debt
Securities, the Holders



61









 







of which are required to consent (a) to any such supplemental indenture, (b) to rescind and
annul a declaration that any Debt Securities are due and payable as a result of the occurrence of
an Event of Default, (c) to waive any past default under the Indenture and its consequences and (d)
to waive compliance with Sections 5.02 and 5.04 (other than 5.04(a)(1) and (2)) to 5.08, inclusive.



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




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




          SECTION 11.03. Effect of Supplemental Indentures. Upon the execution of any supplemental
indenture pursuant to the provisions of this Article Eleven, this Indenture shall be and be deemed
to be modified and amended in accordance therewith and the respective rights, limitation of rights,
obligations, duties and immunities under this Indenture of the Trustee, the Company and the Holders
of Debt Securities shall thereafter be determined, exercised and enforced hereunder subject in all
respects to such modifications and amendments and all the terms and conditions of any such
supplemental indenture shall be and be deemed to be part of the terms and conditions of this
Indenture for any and all purposes.




          SECTION 11.04. Notation on Debt Securities. Debt Securities authenticated and delivered
after the execution of any supplemental indenture pursuant to the provisions of this Article Eleven
may bear a notation in form approved by the Trustee as to any matter provided for in such
supplemental indenture. If the Company or the Trustee shall so determine, new Debt Securities of
any series so modified as to conform, in the opinion of the Trustee and the Board of Directors to
any modification of this Indenture contained in any such supplemental indenture may be prepared and
executed by the Company, authenticated by the Trustee and delivered in exchange for the Outstanding
Debt Securities of such series.




          SECTION 11.05. Evidence of Compliance of Supplemental Indenture to be Furnished Trustee. The
Trustee, subject to the provisions of Sections 8.01 and 7.02, shall receive, and shall be fully
protected in relying upon, in addition to the documents required by Section 15.05, an Officer’s
Certificate and an Opinion of Counsel as conclusive evidence that any supplemental indenture
executed pursuant hereto complies with the requirements of this Article Eleven and is authorized
and permitted by this Indenture.




62









 








ARTICLE TWELVE.




Consolidation, Merger, Sale and Conveyance.




          SECTION 12.01. Company May Consolidate, etc., on Certain Terms. Nothing contained in this
Indenture or in any of the Debt Securities shall prevent any consolidation or merger of the Company
with or into any other corporation or corporations (whether or not affiliated with the Company), or
successive consolidations or mergers in which the Company or its successor or successors shall be a
party or parties, or shall prevent any sale, conveyance or lease of all or substantially all of the
property of the Company to any other corporation (whether or not affiliated with the Company)
authorized to acquire and operate the same; provided, however, and the Company hereby covenants and
agrees, that any such consolidation, merger, sale, conveyance or lease shall be upon the condition
that (a) immediately after such consolidation, merger, sale, conveyance or lease the corporation
(whether the Company or such other corporation) formed by or surviving any such consolidation or
merger, or to which such sale, conveyance or lease shall have been made, shall not be in default in
the performance or observance of any of the terms, covenants and conditions of this Indenture to be
kept or performed by the Company; (b) the corporation (if other than the Company) formed by or
surviving any such consolidation or merger or to which such sale, conveyance or lease shall have
been made, shall be a corporation organized under the laws of the United States of America or any
state thereof; and (c) the due and punctual payment of the principal of and premium, if any, and
interest on all of the Debt Securities, according to their tenor, and the due and punctual
performance and observance of all of the covenants and conditions of this Indenture to be performed
or observed by the Company, shall be expressly assumed, by supplemental indenture satisfactory in
form to the Trustee, executed and delivered to the Trustee by the Corporation (if other than the
Company) formed by such consolidation, or into which the Company shall have been merged, or by the
corporation which shall have acquired or leased such property.




          SECTION 12.02. Successor Corporation to be Substituted. In case of any such consolidation,
merger, sale, conveyance or lease and upon the assumption by the successor corporation, by
supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the
Trustee, of the due and punctual payment of the principal of and premium, if any, and interest on
all of the Debt Securities and the due and punctual performance and observance of all of the
covenants and conditions of this Indenture to performed or observed by the Company, such successor
corporation shall succeed to and be substituted for the Company, with the same effect as if it had
been named herein as the party of the first part, and (except in the event of a conveyance by way
of lease) the predecessor corporation shall be relieved of any further obligation under this
Indenture and the Debt Securities. Such successor corporation thereupon may cause to be signed,
and may issue either in its own name or in the name of Johnson Controls, Inc. any or all of the
Debt Securities issuable hereunder which theretofore shall not have been signed by the Company and
delivered to the Trustee; and, upon the order of such successor corporation instead of the Company
and subject to all the terms, conditions and limitations in this Indenture prescribed, the Trustee
shall authenticate and shall deliver any Debt Securities which previously shall have been signed
and delivered by the officers of the Company to the Trustee for authentication, and any Debt
Securities which such successor corporation



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thereafter shall cause to be signed and delivered to the Trustee for that purpose. All the
Debt Securities of each series so issued shall in all respects have the same legal rank and benefit
under this Indenture as the Debt Securities of such series theretofore or thereafter issued in
accordance with the terms of this Indenture as though all of such Debt Securities had been issued
at the date of the execution hereof.



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




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          SECTION 12.03. Opinion of Counsel to Be Given Trustee. The Trustee, subject to Sections 8.01
and 8.02, shall receive an Opinion of Counsel as conclusive evidence that any such consolidation,
merger, sale or conveyance and any such assumption complies with the provisions of this Article
Twelve and that all conditions precedent herein provided relating to such transactions have been
complied with.




ARTICLE THIRTEEN.




Satisfaction and Discharge of Indenture.




          SECTION 13.01. Satisfaction, Discharge and Defeasance of Debt Securities of any Series. The
Company shall be deemed to have paid and discharged the entire indebtedness on all the Debt
Securities of a series, the provisions of this Indenture (except as to (x) the rights of Holders of
Debt Securities of such series to receive, from the money, in the currency required, and Government
Obligations deposited with the Trustee pursuant to Section 13.03 or the interest and principal
received by the Trustee in respect of such Government Obligations, payment of the principal of (and
premium, if any) and any installment of principal of (and premium, if any) or interest on such Debt
Securities on the Stated Maturities thereof or upon the Redemption Dates for Debt Securities
required to be redeemed pursuant to any mandatory sinking fund or analogous provisions relating to
Debt Securities of that series or pursuant to any call for redemption relating to Debt Securities
of that series, (y) the Company’s rights and obligations with respect to such Debt Securities under
Sections 3.06, 3.07, 13.03 and 13.04, 5.02, 5.04, 6.01, 8.06, 8.10, 8.11 and, to the extent
applicable to such series, Article Four, so long as the principal of (and premium, if any) and
interest on the Debt Securities of such series remain unpaid and, thereafter, only the Company’s
rights and obligations under Sections 5.04, 8.06, 13.03 and 13.04, and (z) the rights, powers,
trusts, duties and immunities of the Trustee with respect to the Debt Securities of such series) as
it relates to such Debt Securities shall no longer be in effect, and the Trustee, at the expense of
the Company, shall, upon Company Request, execute proper instruments acknowledging the same if:





     (a) (1) all Debt Securities of such series therefore authenticated and
delivered (other than (i) Debt Securities which have been destroyed, lost or
stolen and which have been replaced or paid as provided in Section 3.07 and
(ii) Debt 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 Sections
13.03 and 13.04) have been delivered to the Trustee for cancellation;




     (2) the Company has paid or caused to be paid in the currency required
all other sums payable under this Indenture in respect of the Debt
Securities of such series; and



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     (3) the Company has delivered to the Trustee an Officers’ Certificate,
an Opinion of Counsel and a written opinion of independent public
accountants, each stating that all conditions precedent herein provided for
relating to the satisfaction of the entire indebtedness of all Debt
Securities of any such series and the discharge of the Indenture as it
relates to such Debt Securities have been complied with; or




     (b) (1) all Debt Securities of such series not theretofore delivered to
the Trustee for cancellation (i) have become due and payable, or (ii) will
become due and payable at their Stated Maturity within one year, or (iii)
are to be called for redemption within one year under arrangements
satisfactory to the Trustee for the giving of notice of redemption by the
Trustee in the name, and at the expense of the Company;




     (2) the condition described in paragraph (1) of Section 13.02 has been
satisfied; and




     (3) the conditions described in paragraphs (a)(2) and (a)(3) of this
Section 13.01 have been satisfied; or




     (c) (1) the conditions referred to in paragraphs (b)(2) and (b)(3) of
this Section 13.01 have been satisfied;




     (2) no Event of Default or event which with notice or lapse of time
would become an Event of Default shall have occurred and be continuing on
the date of the deposit referred to in paragraph (1) of Section 13.02 or on
the ninety-first day after the date of such deposit; provided, however, that
should that condition fail to be satisfied on or before such ninety-first
day, the Trustee shall promptly, upon satisfactory receipt of evidence of
such failure, return such deposit to the Company;




     (3) the Company has either (i) delivered to the Trustee an opinion of
counsel of a nationally-recognized independent tax counsel to the effect
that Holders of the Debt Securities of such series will not recognize
income, gain or loss for Federal income tax purposes as a result of such
deposit and the satisfaction, discharge and defeasance contemplated by this
paragraph (c) of this Section 13.01 and will be subject to Federal income
tax on the same amounts and in the same manner and at the same times as
would have been the case if such deposit and defeasance had not occurred or
(ii) the Company shall have received from, or there shall have been
published by, the United States Internal Revenue Service a ruling to the
effect stated in (i) of this Section 13.01(c)(3); and




     (4) the Company has received an Opinion of Counsel to the effect that
the satisfaction, discharge and defeasance contemplated by this Section
13.01 will not result in the delisting of the Debt Securities of that series



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from any nationally-recognized securities exchange on which they are
listed.



          SECTION 13.02. Defeasance of Debt Securities of any Series. The provisions of this Indenture
(except as to (x) the rights of Holders of Debt Securities of any series to receive, from the
money, in the currency required, and Government Obligations deposited with the Trustee pursuant to
paragraph (1) below or the interest and principal received by the Trustee in respect of such
Government Obligations, payment of the principal of (and premium, if any) and any installment of
principal of (and premium, if any) or interest on such Debt Securities on the Stated Maturities
thereof or upon the Redemption Dates for Debt Securities required to be redeemed pursuant to any
mandatory sinking or analogous provisions relating to Securities of that series or pursuant to any
call for redemption relating to Debt Securities of that series, (y) the Company’s rights and
obligations with respect to such Debt Securities under Sections 3.06, 3.07, 13.03, 13.04, Article
Seven (other than subsections (d) and (e) of Section 7.01), Sections 5.01, 5.02, 5.04, 6.01, 8.06,
8.10, 8.11 and, to the extent application to such series, Article Four, so long as the principal of
(and premium, if any) and interest on the Debt Securities of such series remain unpaid and,
thereafter, only the Company’s rights and obligations under Sections 5.04, 8.06, 13.03 and 13.04,
and (z) the rights, powers, trusts, duties and immunities of the Trustee with respect to the Debt
Securities of such series) as it relates to Debt Securities of any series shall no longer be in
effect, and the Trustee, at the expense of the Company shall, upon Company Request, execute proper
instruments acknowledging the same if:





     (1) the Company has deposited or caused to be deposited with the
Trustee as trust funds in trust for the purpose (A) the Dollars of Foreign
Currency, as applicable, in an amount, or (B) Government Obligations which
through the payment of interest and principal in respect thereof in
accordance with their terms will provide on or before the due date of any
payment in respect of such series of Debt Securities in an amount, or (C) a
combination thereof, sufficient, after payment of all Federal, state and
local taxes in respect thereof payable by the Trustee, 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
(i) the principal of (and premium, if any) and each installment of principal
(and premium, if any) and interest on the Outstanding Debt Securities of
that series on the Stated Maturity of such principal or installment of
principal or interest and (ii) any mandatory sinking fund payments or
analogous payments or payments pursuant to any call for redemption
applicable to Debt Securities of such series on the day on which such
payments are due and payable in accordance with the terms of the Indenture
and such Debt Securities;




     (2) no Event of Default or event which with notice or lapse of time
would become an Event of Default shall have occurred and be continuing on
the date of such deposit;



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     (3) the interest of the Holders in such deposit shall have been duly
perfected under the applicable provisions of the Uniform Commercial Code;
and




     (4) 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 defeasance contemplated by this Section have
been complied with.



          SECTION 13.03. Application of Trust Funds; Indemnification. (a) Subject to the provisions
of Section 13.04, all money and Government Obligations deposited with the Trustee pursuant to
Section 13.01 or 13.02 and all money received by the Trustee in respect of Government Obligations
deposited with the Trustee, shall be held in trust and applied by it, in accordance with the
provisions of the Debt 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 premium, if any) and interest for
whose payment such money and Government Obligations have been deposited with or received by the
Trustee as contemplated by Section 13.01 or 13.02.




          (b) The Company shall pay and shall indemnify the Trustee against any tax, fee or other
charge imposed on or assessed against Government Obligations deposited pursuant to Section 13.01 or
13.02 or the interest and principal received in respect of such obligations, other than any such
tax, fee or other charge payable by or on behalf of Holders. The Company shall be entitled to
prompt notice of an assessment or the commencement of any proceeding for which indemnification may
be sought hereunder and, at its election, to contest such assessment or to participate in, assume
the defense of, or settle such proceeding.




          (c) The Trustee shall deliver or pay to the Company from time to time upon Company Request
any Government Obligations or money held by it as provided in Section 13.01 or 13.02 which, in the
opinion of a nationally-recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee, are then in excess of the amount thereof which then
would have been required to be deposited for the purpose for which such obligations or money were
deposited or received.




          (d) If the Trustee is unable to apply any money or Government Obligations in accordance with
Section 13.02 by reason of any legal proceeding or by reason of any order or judgment of any court
or governmental authority enjoining, restraining or otherwise prohibiting such application, the
Company’s obligations under this Indenture and the Debt Securities, if any, of such series shall be
revived and reinstated as though no deposit had occurred pursuant to Section 13.02 until such time
as the Trustee is permitted to apply all such money or Government Obligations in accordance with
Section 13.02; provided, however, that if the Company has made any payment of interest on or
principal of (and premium, if any) on any Debt Securities, if any, of such series because of the
reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of
such series of Debt Securities, if any, to receive such payment from the money or Government
Obligations held by the Trustee.




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          SECTION 13.04. Return of Unclaimed Moneys. Any moneys deposited with or paid to the Trustee
or any paying agent for payment of the principal of and premium, if any, or interest on Debt
Securities and not applied but remaining unclaimed by the Holders of Debt Securities for two years
after the date upon which the principal of and premium, if any, or interest on such Debt
Securities, as the case may be, shall have become due and payable, shall be repaid to the Company
by the Trustee or such paying agent on demand; and the Holder of any of the Debt Securities
entitled to receive such payment shall thereafter look only to the Company for any payment thereof.




          SECTION 13.05. Reinstatement. If the Trustee is unable to apply any money or Government
Obligations in accordance with Sections 13.01 or 13.02 by reason of any legal proceeding or by
reason of any order or judgment of any court or governmental authority enjoining, restraining or
otherwise prohibiting such application, the Company’s obligations under this Indenture and the Debt
Securities shall be revived and reinstated as though no deposit had occurred pursuant to Sections
13.01 or 13.02 until such time as the Trustee is permitted to apply all such money or Government
Obligations in accordance with Sections 13.01 or 13.02; provided that, if the Company has made any
payment of principal of or interest on the Debt Securities because of the reinstatement of its
obligations, the Company shall be subrogated to the rights of the Holders of such Debt Securities
to receive such payment from the money or Government Obligations held by the Trustee.




ARTICLE FOURTEEN.




Immunity of Incorporators, Stockholders,

Officers and Directors.




          SECTION 14.01. Indenture and Debt Securities Solely Corporate Obligations. No recourse under
or upon any obligation, covenant or agreement of this Indenture, any supplemental indenture, or of
any Debt Security, or for any claim based thereon or otherwise in respect thereof, shall be had
against any incorporator, stockholder, officer, director or employee, as such, past, present or
future, of the Company or any Subsidiary or of any predecessor or successor corporation, either
directly or through the Company, whether by virtue of any constitution, statute or rule of law, or
by the enforcement of any assessment or penalty or otherwise; it being expressly understood that
this Indenture and the obligations issued hereunder are solely corporate obligations, and that no
such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators,
stockholders, officers, directors or employees, as such, of the Company or of any predecessor or
successor corporation, or any of them, because of the creation of the indebtedness hereby
authorized, or under or by reason of the obligations, covenants or agreements contained in this
Indenture, or in any of the Debt Securities or implied thereby; and that any and all such personal
liability, either at common law or in equity or by constitution or statute of, and any and all such
rights and claims against, every such incorporator, stockholder, officer, director or employee, as
such, because of the creation of the indebtedness hereby authorized, or under or by reason of the
obligations, covenants or agreements contained



69









 







in this Indenture or in any of the Debt Securities or implied thereby, are hereby expressly
waived and released as a condition of, and as a consideration for, the execution of this Indenture
and the issue of such Debt Securities.



ARTICLE FIFTEEN.




Miscellaneous Provisions.




          SECTION 15.01. Provisions Binding on Successors of the Company. All of the covenants,
stipulations, promises and agreements in this Indenture contained by the Company shall bind its
successors and assigns whether so expressed or not.




          SECTION 15.02. Indenture for Sole Benefit of Parties and Holders of Debt Securities. Nothing
in this Indenture or in the Debt Securities, expressed or implied, shall give or be construed to
give to any Person, firm or corporation, other than the parties hereto, any agent of the Trustee or
the Company under this Indenture and the Holders of the Debt Securities, any legal or equitable
right, remedy or claim under or in respect of this Indenture, or under any covenant, condition or
provision herein contained; all such covenants, conditions and provisions being, subject to the
provisions of Articles Twelve and Fourteen, for the sole benefit of the parties hereto, any agent
of the Trustee or the Company under this Indenture and the Holders of the Debt Securities.




          SECTION 15.03. Addresses for Notices, etc. Any notice or demand which by any provision of
this Indenture is required or permitted to be given or served by the Trustee or by the Holders of
Debt Securities on the Company may be given or served by being deposited, registered or certified
mail postage prepaid, in a post office letter box in the United States addressed (until another
address is filed by the Company with the Trustee) to the Company, 5757 North Green Bay Road,
Milwaukee, Wisconsin 53209, Attention: Secretary. Any notice, direction, request or demand by any
Holder of a Debt Security or the Company to or upon the Trustee shall be deemed to have been
sufficiently given or made, for all purposes, if given or made in writing at the principal office
of the Trustee, addressed to the attention of its Corporate Trust Department. Any notice, report
or other instrument required by any of the provisions of this Indenture to be given by the Trustee
to the Holders of Debt Securities of any or all series shall be deemed to have been sufficiently
given, for all purposes, when mailed by first class mail.




          SECTION 15.04. New York Contract. This Indenture and the Debt Securities shall for all
purposes be construed in accordance with and governed by the laws of the State of New York.




          SECTION 15.05. Evidence of Compliance with Conditions Precedent. Upon any Company request to
the Trustee to take any action under any of the provisions of this Indenture, the Company shall
furnish to the Trustee an Officers’ Certificate stating that all conditions precedent, if any
(including any covenant, compliance with which constitutes a condition precedent) provided for in
this Indenture relating to the proposed action have been



70









 







complied with and an Opinion of Counsel stating that, in the opinion of such counsel, all such
conditions precedent have been complied with, except that in the case of any such application or
demand as to which the furnishing of such document is specifically required by any provision of
this Indenture relating to such particular application or demand, no additional certificate or
opinion need be furnished.



          Each certificate or opinion provided for in this Indenture and delivered to the Trustee with
respect to compliance with a condition or covenant provided for in this Indenture shall include (1)
a statement that the Person making such certificate or opinion has read such covenant or condition;
(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 such Person, he has made such examination or investigation as is necessary to enable
him to express an informed opinion as to whether or not such covenant or condition has been
complied with; and (4) a statement as to whether or not, in the opinion of such Person, such
condition or covenant has been complied with.




          SECTION 15.06. Legal Holidays. In any case where the date of maturity of interest on or
principal of or premium, if any, on any series of Debt Securities or the date fixed for redemption
of any Debt Security or Debt Securities will be a legal holiday or a day on which banking
institutions are legally authorized or obligated to close in Delaware or any other location where a
paying agent appointed pursuant to Section 5.02 is located, then payment of such interest on or
principal of and premium, if any, on such Debt Securities need not be made by such paying agent on
such date but may be made by such paying agent on the next succeeding business day that is not a
day in such location that is either a legal holiday or a day on which banking institutions are
legally authorized or obligated to close, with the same force and effect as if made on such date of
maturity or the date fixed for redemption and no interest shall accrue for the period from and
after such prior date.




          SECTION 15.07. Trust Indenture Act of 1939 to Control. If any provision hereof limits,
qualifies or conflicts with the duties imposed by any of Sections 310 through 317 of the Trust
Indenture Act of 1939, by the operation of Section 318(c) thereof, such imposed duties shall
control, except as, and to the extent, expressly excluded from this Indenture, as permitted by the
Trust Indenture Act of 1939. If any provision of this Indenture modifies or excludes any provision
of the Trust Indenture Act of 1939 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 15.08. Table of Contents, Headings, etc. The table of contents and the titles and
headings of the articles and sections of this Indenture have been inserted for convenience of
reference only, are not to be considered a part hereof, and shall in no way modify or restrict any
of the terms or provisions hereof.




          SECTION 15.09. Determination of Principal Amount. In determining whether the Holders of the
requisite principal amount of Outstanding Debt Securities of any



71









 







series have given any request, demand, authorization, direction, notice, consent or waiver
hereunder, or whether sufficient funds are available for redemption or for any other purpose, (i)
the principal amount of an Original Issue Discount Debt Security that shall be deemed to be
Outstanding for such purposes shall be the amount of the principal thereof that would be due and
payable as of the date of such determination upon a declaration of acceleration of the maturity
thereof pursuant to Section 7.01, (ii) the principal amount of any Debt Securities denominated in a
Foreign Currency that shall be deemed to be Outstanding for such purposes shall be determined by
converting the Foreign Currency into Dollars at the Market Exchange Rate as of the date of such
determination and (iii) the principal amount of any Indexed Debt Security that shall be deemed to
be Outstanding for such purposes shall be the amount of the principal face amount of such Indexed
Debt Security at original issuance, unless otherwise provided in or pursuant to this Indenture.



          SECTION 15.10. Execution in Counterparts. This Indenture may be executed in any number of
counterparts, each of which shall be an original and such counterparts shall together constitute
but one and the same instrument. JPMorgan Chase Bank, N.A. hereby accepts the trusts in this
Indenture declared and provided, upon the terms and conditions hereinabove set forth.




72









 





     IN WITNESS WHEREOF, JOHNSON CONTROLS, INC. has caused this Indenture to be executed by its
President and either its Chief Financial Officer or its Treasurer and JPMORGAN CHASE BANK, N.A. has
caused this Indenture to be executed by one of its Officers, as of the day and year first written
above.



	 	 	 
	 

	 	JOHNSON CONTROLS, INC.
	 
	 	 
	 

	 	By                                                            
	 

	 	Title
	 
	 	 
	 

	 	By                                                            
	 

	 	Title
	 
	 	 
	 

	 	JPMORGAN CHASE BANK, N.A.
	 
	 	 
	 

	 	By