exv4w1



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Exhibit
4.1




      




CHARTERED SEMICONDUCTOR MANUFACTURING LTD




 






INDENTURE




Dated as of April 2, 2001




 






WELLS FARGO BANK MINNESOTA, NATIONAL ASSOCIATION




Trustee




      




 









Table of Contents
















TABLE OF CONTENTS




	 	 	 	 	 
	 	 	Page
	ARTICLE I. DEFINITIONS AND INCORPORATION BY
	 	 	 	 
	REFERENCE
	 	 	1	 
	Section 1.1. Definitions
	 	 	1	 
	Section 1.2. Other Definitions
	 	 	5	 
	Section 1.3. Incorporation by Reference of Trust Indenture Act
	 	 	5	 
	Section 1.4. Rules of Construction
	 	 	6	 
	 
	 	 	 	 
	ARTICLE II. THE
	 	 	 	 
	SECURITIES
	 	 	6	 
	Section 2.1. Issuable in Series
	 	 	6	 
	Section 2.2. Establishment of Terms of Series of Securities
	 	 	6	 
	Section 2.3. Execution and Authentication
	 	 	9	 
	Section 2.4. Registrar and Paying Agent
	 	 	10	 
	Section 2.5. Paying Agent to Hold Money in Trust
	 	 	10	 
	Section 2.6. Securityholder Lists
	 	 	11	 
	Section 2.7. Transfer and Exchange
	 	 	11	 
	Section 2.8. Mutilated, Destroyed, Lost and Stolen Securities
	 	 	11	 
	Section 2.9. Outstanding Securities
	 	 	12	 
	Section 2.10. Treasury Securities
	 	 	13	 
	Section 2.11. Temporary Securities
	 	 	13	 
	Section 2.12. Cancellation
	 	 	13	 
	Section 2.13. Defaulted Interest
	 	 	13	 
	Section 2.14. Global Securities
	 	 	13	 
	Section 2.15. CUSIP Numbers
	 	 	15	 
	 
	 	 	 	 
	ARTICLE III.
	 	 	 	 
	REDEMPTION
	 	 	15	 
	Section 3.1. Notice to Trustee
	 	 	15	 
	Section 3.2. Selection of Securities to be Redeemed
	 	 	15	 
	Section 3.3. Notice of Redemption
	 	 	15	 
	Section 3.4. Effect of Notice of Redemption
	 	 	16	 
	Section 3.5. Deposit of Redemption Price
	 	 	16	 
	Section 3.6. Securities Redeemed in Part
	 	 	16	 
	 
	 	 	 	 
	ARTICLE IV.
	 	 	 	 
	COVENANTS
	 	 	17	 
	Section 4.1. Payment of Principal and Interest
	 	 	17	 
	Section 4.2. SEC Reports
	 	 	17	 
	Section 4.3. Compliance Certificate
	 	 	17	 
	Section 4.4. Stay, Extension and Usury Laws
	 	 	17	 
	Section 4.5. Corporate Existence
	 	 	18	 
	Section 4.6. Taxes
	 	 	18	 
	 
	 	 	 	 
	ARTICLE V.
	 	 	 	 
	SUCCESSORS
	 	 	18	 
	Section 5.1. When Company May Merge, Etc.
	 	 	18	 
	Section 5.2. Successor Corporation Substituted
	 	 	18	 







 

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	 	 	 	Page	 
	ARTICLE VI. DEFAULTS AND
	 	 	 	 
	REMEDIES
	 	 	19	 
	Section 6.1. Events of Default
	 	 	19	 
	Section 6.2. Acceleration of Maturity; Rescission and Annulment
	 	 	20	 
	Section 6.3. Collection of Indebtedness and Suits for Enforcement by Trustee
	 	 	21	 
	Section 6.4. Trustee May File Proofs of Claim
	 	 	22	 
	Section 6.5. Trustee May Enforce Claims Without Possession of Securities
	 	 	23	 
	Section 6.6. Application of Money Collected
	 	 	23	 
	Section 6.7. Limitation on Suits
	 	 	23	 
	Section 6.8. Unconditional Right of Holders to Receive Principal and Interest
	 	 	24	 
	Section 6.9. Restoration of Rights and Remedies
	 	 	24	 
	Section 6.10. Rights and Remedies Cumulative
	 	 	24	 
	Section 6.11. Delay or Omission Not Waiver
	 	 	25	 
	Section 6.12. Control by Holders
	 	 	25	 
	Section 6.13. Waiver of Past Defaults
	 	 	25	 
	Section 6.14. Undertaking for Costs
	 	 	25	 
	 
	 	 	 	 
	ARTICLE VII.
	 	 	 	 
	TRUSTEE
	 	 	26	 
	Section 7.1. Duties of Trustee
	 	 	26	 
	Section 7.2. Rights of Trustee
	 	 	27	 
	Section 7.3. Individual Rights of Trustee
	 	 	28	 
	Section 7.4. Trustee’s Disclaimer
	 	 	28	 
	Section 7.5. Notice of Defaults
	 	 	28	 
	Section 7.6. Reports by Trustee to Holders
	 	 	28	 
	Section 7.7. Compensation and Indemnity
	 	 	29	 
	Section 7.8. Replacement of Trustee
	 	 	29	 
	Section 7.9. Successor Trustee by Merger, etc.
	 	 	30	 
	Section 7.10. Eligibility; Disqualification
	 	 	30	 
	Section 7.11. Preferential Collection of Claims Against Company
	 	 	31	 
	 
	 	 	 	 
	ARTICLE VIII. SATISFACTION AND DISCHARGE;
	 	 	 	 
	DEFEASANCE
	 	 	31	 
	Section 8.1. Satisfaction and Discharge of Indenture
	 	 	31	 
	Section 8.2. Application of Trust Funds; Indemnification
	 	 	32	 
	Section 8.3. Legal Defeasance of Securities of any Series
	 	 	32	 
	Section 8.4. Covenant Defeasance
	 	 	34	 
	Section 8.5. Repayment to Company
	 	 	35	 
	 
	 	 	 	 
	ARTICLE IX. AMENDMENTS AND
	 	 	 	 
	WAIVERS
	 	 	35	 
	Section 9.1. Without Consent of Holders
	 	 	35	 
	Section 9.2. With Consent of Holders
	 	 	36	 
	Section 9.3. Limitations
	 	 	36	 
	Section 9.4. Compliance with Trust Indenture Act
	 	 	37	 
	Section 9.5. Revocation and Effect of Consents
	 	 	37	 
	Section 9.6. Notation on or Exchange of Securities
	 	 	37	 
	Section 9.7. Trustee Protected
	 	 	38	 
	 
	 	 	 	 
	ARTICLE X.
	 	 	 	 
	MISCELLANEOUS
	 	 	38	 






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	 	 	Page
	Section 10.1. Trust Indenture Act Controls
	 	 	38	 
	Section 10.2. Notices
	 	 	38	 
	Section 10.3. Communication by Holders with Other Holders
	 	 	39	 
	Section 10.4. Certificate and Opinion as to Conditions Precedent
	 	 	39	 
	Section 10.5. Statements Required in Certificate or Opinion
	 	 	39	 
	Section 10.6. Rules by Trustee and Agents
	 	 	39	 
	Section 10.7. Legal Holidays
	 	 	40	 
	Section 10.8. No Recourse Against Others
	 	 	40	 
	Section 10.9. Counterparts
	 	 	40	 
	Section 10.10. Governing Laws
	 	 	40	 
	Section 10.11. No Adverse Interpretation of Other Agreements
	 	 	40	 
	Section 10.12. Successors
	 	 	40	 
	Section 10.13. Severability
	 	 	41	 
	Section 10.14. Table of Contents, Headings, Etc.
	 	 	41	 
	Section 10.15. Securities in a Foreign Currency or in ECU
	 	 	41	 
	Section 10.16. Judgment Currency
	 	 	42	 
	 
	 	 	 	 
	ARTICLE XI. SINKING
	 	 	 	 
	FUNDS
	 	 	42	 
	Section 11.1. Applicability of Article
	 	 	42	 
	Section 11.2. Satisfaction of Sinking Fund Payments with Securities
	 	 	42	 
	Section 11.3. Redemption of Securities for Sinking Fund
	 	 	43	 











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Reconciliation and tie between Trust Indenture Act of 1939 and

Indenture, dated as of April 2, 2001




	 	 	 
	ss.310 (a)(1) 
	 	7.10
	(a)(2) 
	 	7.10
	(a)(3) 
	 	Not Applicable
	(a)(4) 
	 	Not Applicable
	(a)(5) 
	 	7.10
	(b) 
	 	7.10
	ss. 311(a) 
	 	7.11
	(b) 
	 	7.11
	(c) 
	 	Not Applicable
	ss. 312(a) 
	 	2.6
	(b) 
	 	10.3
	(c) 
	 	10.3
	ss. 313(a) 
	 	7.6
	(b)(1) 
	 	7.6
	(b)(2) 
	 	7.6
	(c)(1) 
	 	7.6
	(d) 
	 	7.6
	ss. 314(a) 
	 	4.2, 10.5
	(b) 
	 	Not Applicable
	(c)(1) 
	 	10.4
	(c)(2) 
	 	10.4
	(c)(3) 
	 	Not Applicable
	(d) 
	 	Not Applicable
	(e) 
	 	10.5
	(f) 
	 	Not Applicable
	ss. 315(a) 
	 	7.1
	(b) 
	 	7.5
	(c) 
	 	7.1
	(d) 
	 	7.1
	(e) 
	 	6.14
	ss. 316(a) 
	 	2.10
	(a)(1)(A) 
	 	6.12
	(a)(1)(B) 
	 	6.13
	(b) 
	 	6.8
	ss.317(a)(1) 
	 	6.3
	(a)(2) 
	 	6.4
	(b) 
	 	2.5
	ss. 318(a) 
	 	10.1








 




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



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          Indenture dated as of April 2, 2001 between Chartered Semiconductor Manufacturing Ltd, a
Singapore (“Company”), and Wells Fargo Bank Minnesota, National Association, a U.S. national
banking association (“Trustee”).




          Each party agrees as follows for the benefit of the other party and for the equal and ratable
benefit of the Holders of the Securities issued under this Indenture.









ARTICLE I.




DEFINITIONS AND INCORPORATION BY REFERENCE










     Section 1.1. Definitions.



          “Additional Amounts” means any additional amounts which are required hereby or by any
Security, under circumstances specified herein or therein, to be paid by the Company in respect of
certain taxes imposed on Holders specified therein and which are owing to such Holders.




          “Affiliate” of any specified person means any other person directly or indirectly controlling
or controlled by or under direct or indirect common control with such specified person. For the
purposes of this definition, “control” (including, with correlative meanings, the terms “controlled
by” and “under common control with”), as used with respect to any person, shall mean the
possession, directly or indirectly, of the power to direct or cause the direction of the management
or policies of such person, whether through the ownership of voting securities or by agreement or
otherwise.




          “Agent” means any Registrar, Paying Agent or Service Agent.




          “Authorized Newspaper” means a newspaper in an official language of the country of publication
customarily published at least once a day for at least five days in each calendar week and of
general circulation in the place in connection with which the term is used. If it shall be
impractical in the opinion of the Trustee to make any publication of any notice required hereby in
an Authorized Newspaper, any publication or other notice in lieu thereof that is made or given by
the Trustee shall constitute a sufficient publication of such notice.




          “Bearer” means anyone in possession from time to time of a Bearer Security.




          “Bearer Security” means any Security, including any interest coupon appertaining thereto, that
does not provide for the identification of the Holder thereof.




          “Board of Directors” means the Board of Directors of the Company or any duly authorized
committee thereof.




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




 









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          “Business Day” means, unless otherwise provided by Board Resolution, Officers’ Certificate or
supplemental indenture hereto for a particular Series, any day except a Saturday, Sunday or a legal
holiday in the City of New York or the Republic of Singapore on which banking institutions are
authorized or required by law, regulation or executive order to close.




          “Company” means the party named as such above until a successor replaces it and thereafter
means the successor.




          “Company Order” means a written order signed in the name of the Company by two Officers, one
of whom must be the Company’s principal executive officer, principal financial officer or principal
accounting officer.




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




          “Corporate Trust Office” means the office of the Trustee at which at any particular time its
corporate trust business shall be principally administered.




          “Debt” of any person as of any date means, without duplication, all indebtedness of such
person in respect of borrowed money, including all interest, fees and expenses owed in respect
thereto (whether or not the recourse of the lender is to the whole of the assets of such person or
only to a portion thereof), or evidenced by bonds, notes, debentures or similar instruments.




          “Default” means any event which is, or after notice or passage of time would be, an Event of
Default.




          “Depository” means, with respect to the Securities of any Series issuable or issued in whole
or in part in the form of one or more Global Securities, the person designated as Depository for
such Series by the Company, which Depository shall be a clearing agency registered under the
Exchange Act; and if at any time there is more than one such person, “Depository” as used with
respect to the Securities of any Series shall mean the Depository with respect to the Securities of
such Series.




          “Discount Security” means any Security that provides for an amount less than the stated
principal amount thereof to be due and payable upon declaration of acceleration of the maturity
thereof pursuant to Section 6.2.




          “Dollars” means the currency of The United States of America.




          “ECU” means the European Currency Unit as determined by the Commission of the European Union.




          “Exchange Act” means the Securities Exchange Act of 1934, as amended.




          “Foreign Currency” means any currency or currency unit issued by a government other than the
government of The United States of America.







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          “Foreign Government Obligations” means with respect to Securities of any Series that are
denominated in a Foreign Currency, (i) direct obligations of the government that issued or caused
to be issued such currency for the payment of which obligations its full faith and credit is
pledged or (ii) obligations of a person controlled or supervised by or acting as an agency or
instrumentality of such government the timely payment of which is unconditionally guaranteed as a
full faith and credit obligation by such government, which, in either case under clauses (i) or
(ii), are not callable or redeemable at the option of the issuer thereof.




          “Global Security” or “Global Securities” means a Security or Securities, as the case may be,
in the form established pursuant to Section 2.2 evidencing all or part of a Series of Securities,
issued to the Depository for such Series or its nominee, and registered in the name of such
Depository or nominee.




          “Holder” or “Securityholder” means a person in whose name a Security is registered or the
holder of a Bearer Security.




          “Indenture” means this Indenture as amended from time to time and shall include the form and
terms of particular Series of Securities established as contemplated hereunder.




          “interest” with respect to any Discount Security which by its terms bears interest only after
Maturity, means interest payable after Maturity.




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




          “Officer” means the Chairman of the Board, any Deputy Chairman of the Board, any President,
any Vice-President, the Treasurer, the Secretary, any Assistant Treasurer or any Assistant
Secretary of the Company.




          “Officers’ Certificate” means a certificate signed by two Officers, one of whom must be the
Company’s principal executive officer, principal financial officer or principal accounting officer.




          “Opinion of Counsel” means a written opinion of legal counsel who is acceptable to the
Trustee, such Trustee’s consent not to be unreasonably withheld. The counsel may be an employee of
or counsel to the Company.




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




          “principal” of a Security means the principal of the Security plus, when appropriate, the
premium, if any, on, and any Additional Amounts in respect of, the Security.




          “Responsible Officer” means any officer of the Trustee in its Corporate Trust Office and also
means, with respect to a particular corporate trust matter, any other officer to





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whom any corporate trust matter is referred because of his or her knowledge of and familiarity with
a particular subject.




          “SEC” means the Securities and Exchange Commission.




          “Securities” means the debentures, notes or other debt instruments of the Company of any
Series authenticated and delivered under this Indenture.




          “Series” or “Series of Securities” means each series of debentures, notes or other debt
instruments of the Company created pursuant to Sections 2.1 and 2.2 hereof.




          “Significant Subsidiary” means (i) any direct or indirect Subsidiary of the Company that would
be a “significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated
pursuant to the Securities Act of 1933, as amended, as such regulation is in effect on the date
hereof, or (ii) any group of direct or indirect Subsidiaries of the Company that, taken together as
a group, would be a “significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X,
promulgated pursuant to the Securities Act of 1933, as amended, as such regulation is in effect on
the date hereof.




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




          “Subsidiary” of any specified person means any corporation of which at least a majority of the
outstanding stock having by the terms thereof ordinary voting power for the election of directors
of such corporation (irrespective of whether or not at the time stock of any other class or classes
of such corporation shall have or might have voting power by reason of the happening of any
contingency) is at the time directly or indirectly owned by such person, or by one or more other
Subsidiaries, or by such person and one or more other Subsidiaries.




          “TIA” means the Trust Indenture Act of 1939 (15 U.S. Code ss.ss. 77aaa-77bbbb) as in effect on
the date of this Indenture; provided, however, that in the event the Trust Indenture Act of 1939 is
amended after such date, “TIA” means, to the extent required by any such amendment, the Trust
Indenture Act as so amended.




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




          “U.S. Government Obligations” means securities which are (i) direct obligations of The United
States of America for the payment of which its full faith and credit is pledged or (ii) obligations
of a person controlled or supervised by and acting as an agency or instrumentality of The United
States of America the payment of which is unconditionally guaranteed as a full faith and credit
obligation by The United States of America, and which in the case of (i) and (ii)





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are not callable or redeemable at the option of the issuer thereof, and shall also include a
depository receipt issued by a bank or trust company as custodian with respect to any such U.S.
Government Obligation or a specific payment of interest on or principal of any such U.S. Government
Obligation held by such custodian for the account of the holder of a depository receipt, provided
that (except as required by law) such custodian is not authorized to make any deduction from the
amount payable to the holder of such depository receipt from any amount received by the custodian
in respect of the U.S. Government Obligation evidenced by such depository receipt.











     Section 1.2. Other Definitions.



	 	 	 	 	 
	 	 	DEFINED IN
	TERM	 	SECTION
	“Bankruptcy Law”

	 	 	6.1	 
	“Custodian”

	 	 	6.1	 
	“Event of Default”

	 	 	6.1	 
	“Journal”

	 	 	10.15	 
	“Judgment Currency”

	 	 	10.16	 
	“Legal Holiday”

	 	 	10.7	 
	“mandatory sinking fund payment”

	 	 	11.1	 
	“Market Exchange Rate”

	 	 	10.15	 
	“New York Banking Day”

	 	 	10.16	 
	“optional sinking fund payment”

	 	 	11.1	 
	“Paying Agent”

	 	 	2.4	 
	“Registrar”

	 	 	2.4	 
	“Required Currency”

	 	 	10.16	 
	“Service Agent”

	 	 	2.4	 
	“successor person”

	 	 	5.1	 











     Section 1.3. Incorporation by Reference of Trust Indenture Act.



        Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by
reference in and made a part of this Indenture. The following TIA terms used in this Indenture have
the following meanings:




        “Commission” means the SEC.



“indenture securities” means the Securities.

“indenture security holder” means a Securityholder.

“indenture to be qualified” means this Indenture.

“indenture trustee” or “institutional trustee” means the

Trustee.




“obligor” on the indenture securities means the Company and
any successor obligor upon the Securities.




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          All other terms used in this Indenture that are defined by the TIA, defined by TIA reference
to another statute or defined by SEC rule under the TIA and not otherwise defined herein are used
herein as so defined.










     Section 1.4. Rules of Construction.



          Unless the context otherwise requires:




          (a) a term has the meaning assigned to it;




        (b) an accounting term not otherwise defined has the
meaning assigned to it in accordance with
generally
   accepted accounting
principles;




        (c) references to “generally accepted accounting
principles” shall mean generally accepted accounting principles
in
  
effect as of the time when and for the period as to which such
accounting principles are to be applied;




          (d) “or” is not exclusive;




          (e) words in the singular include the plural, and in the
plural include the singular; and




          (f) provisions apply to successive events and
transactions.










ARTICLE II.




THE SECURITIES










     Section 2.1. Issuable in Series.



          The aggregate principal amount of Securities that may be authenticated and delivered under
this Indenture is unlimited. The Securities may be issued in one or more Series. All Securities of
a Series shall be identical except as may be set forth in a Board Resolution, a supplemental
indenture or an Officers’ Certificate detailing the adoption of the terms thereof pursuant to the
authority granted under a Board Resolution. In the case of Securities of a Series to be issued from
time to time, the Board Resolution, Officers’ Certificate or supplemental indenture may provide for
the method by which specified terms (such as interest rate, maturity date, record date or date from
which interest shall accrue) are to be determined. Securities may differ between Series in respect
of any matters, provided that all Series of Securities shall be equally and ratably entitled to the
benefits of the Indenture.










     Section 2.2. Establishment of Terms of Series of Securities.



          At or prior to the issuance of any Securities within a Series, the following shall be
established (as to the Series generally, in the case of Subsection 2.2.1 and either as to such
Securities within the Series or as to the Series generally in the case of Subsections 2.2.2 through
2.2.22) by a Board Resolution, a supplemental indenture or an Officers’ Certificate pursuant to
authority granted under a Board Resolution:






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          2.2.1. the title of the Series (which shall distinguish the Securities of that particular
Series from the Securities of any other Series);




          2.2.2. the price or prices (expressed as a percentage of the principal amount thereof) at
which the Securities of the Series will be issued;




          2.2.3. any limit upon the aggregate principal amount of the Securities of the Series which
may be authenticated and delivered under this Indenture (except for Securities authenticated and
delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of
the Series pursuant to Section 2.7, 2.8, 2.11, 3.6 or 9.6);




          2.2.4. the date or dates on which the principal of the Securities of the Series is payable;




          2.2.5. the rate or rates (which may be fixed or variable) per annum or, if applicable, the
method used to determine such rate or rates (including, but not limited to, any commodity,
commodity index, stock exchange index or financial index) at which the Securities of the Series
shall bear interest, if any, the date or dates from which such interest, if any, shall accrue, the
date or dates on which such interest, if any, shall commence and be payable and any regular record
date for the interest payable on any interest payment date;




          2.2.6. the place or places where the principal of and interest, if any, on the Securities of
the Series shall be payable, or the method of such payment, if by wire transfer, mail or other
means;




          2.2.7. if applicable, the period or periods within which, the price or prices at which and
the terms and conditions upon which the Securities of the Series may be redeemed, in whole or in
part, at the option of the Company;





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




          2.2.9. the dates, if any, on which and the price or prices at which the Securities of the
Series will be repurchased by the Company at the option of the Holders thereof and other detailed
terms and provisions of such repurchase obligations;




          2.2.10. if applicable, whether the Securities of the Series will be convertible into our
Ordinary Shares (including Ordinary Shares represented by American Depository Shares) or
exchangeable for other of our securities, and if so, the terms of conversion or exchange;




          2.2.11. if other than denominations of $1,000 and any integral multiple thereof, the
denominations in which the Securities of the Series shall be issuable;






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          2.2.12. the forms of the Securities of the Series in bearer or fully registered form (and, if
in fully registered form, whether the Securities will be issuable as Global Securities);




          2.2.13. if other than the principal amount thereof, the portion of the principal amount of
the Securities of the Series that shall be payable upon declaration of acceleration of the maturity
thereof pursuant to Section 6.2;




          2.2.14. the currency of denomination of the Securities of the Series, which may be Dollars or
any Foreign Currency, including, but not limited to, the ECU, and if such currency of denomination
is a composite currency other than the ECU, the agency or organization, if any, responsible for
overseeing such composite currency;




          2.2.15. the designation of the currency, currencies or currency units in which payment of the
principal of and interest, if any, on the Securities of the Series will be made;




          2.2.16. if payments of principal of or interest, if any, on the Securities of the Series are
to be made in one or more currencies or currency units other than that or those in which such
Securities are denominated, the manner in which the exchange rate with respect to such payments
will be determined;




          2.2.17. the manner in which the amounts of payment of principal of or interest, if any, on
the Securities of the Series will be determined, if such amounts may be determined by reference to
an index based on a currency or currencies or by reference to a commodity, commodity index, stock
exchange index or financial index;




          2.2.18. the provisions, if any, relating to any security provided for the Securities of the
Series;




          2.2.19. any addition to or change in the Events of Default which applies to any Securities of
the Series and any change in the right of the Trustee or the requisite Holders of such Securities
to declare the principal amount thereof due and payable pursuant to Section 6.2;




          2.2.20. any addition to or change in the covenants set forth in Articles IV or V which
applies to Securities of the Series;




          2.2.21. any other terms of the Securities of the Series (which terms shall not be
inconsistent with the provisions of this Indenture, except as permitted by Section 9.1, but which
may modify or delete any provision of this Indenture insofar as it applies to such Series); and




          2.2.22. any depositories, interest rate calculation agents, exchange rate calculation agents
or other agents with respect to Securities of such Series if other than those appointed herein.




          All Securities of any one Series need not be issued at the same time and may be issued from
time to time, consistent with the terms of this Indenture, if so provided by or pursuant to the
Board Resolution, supplemental indenture or Officers’ Certificate referred to





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above, and the authorized principal amount of any Series may not be increased to provide for
issuances of additional Securities of such Series, unless otherwise provided in such Board
Resolution, supplemental indenture or Officers’ Certificate.










     Section 2.3. Execution and Authentication.



          Two Officers shall sign the Securities for the Company by manual or facsimile signature.




          If an Officer whose signature is on a Security no longer holds that office at the time the
Security is authenticated, the Security shall nevertheless be valid.




          A Security shall not be valid until authenticated by the manual signature of the Trustee or an
authenticating agent. The signature shall be conclusive evidence that the Security has been
authenticated under this Indenture.




          The Trustee shall at any time, and from time to time, authenticate Securities for original
issue in the principal amount provided in the Board Resolution, supplemental indenture hereto or
Officers’ Certificate, upon receipt by the Trustee of a Company Order. Such Company Order may
authorize authentication and delivery pursuant to oral or electronic instructions from the Company
or its duly authorized agent or agents, which oral instructions shall be promptly confirmed in
writing. Each Security shall be dated the date of its authentication unless otherwise provided by a
Board Resolution, a supplemental indenture hereto or an Officers’ Certificate.




          The aggregate principal amount of Securities of any Series outstanding at any time may not
exceed any limit upon the maximum principal amount for such Series set forth in the Board
Resolution, supplemental indenture hereto or Officers’ Certificate delivered pursuant to Section
2.2, except as provided in Section 2.8.




          Prior to the issuance of Securities of any Series, the Trustee shall have received and
(subject to Section 7.2) shall be fully protected in relying on: (a) the Board Resolution,
supplemental indenture hereto or Officers’ Certificate establishing the form of the Securities of
that Series or of Securities within that Series and the terms of the Securities of that Series or
of Securities within that Series, (b) an Officers’ Certificate complying with Section 10.4, and (c)
an Opinion of Counsel complying with Section 10.4.




          The Trustee shall have the right to decline to authenticate and deliver any Securities of such
Series: (a) if the Trustee, being advised by counsel, determines that such action may not lawfully
be taken; or (b) if the Trustee in good faith by its board of directors or trustees, executive
committee or a trust committee of directors and/or vice-presidents shall determine that such action
would expose the Trustee to personal liability to Holders of any then outstanding Series of
Securities.




          The Trustee may appoint an authenticating agent acceptable to the Company to authenticate
Securities. An authenticating agent may authenticate Securities whenever the Trustee may do so.
Each reference in this Indenture to authentication by the Trustee includes authentication by such
agent. An authenticating agent has the same rights as an Agent to deal with the Company or an
Affiliate.





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     Section 2.4. Registrar and Paying Agent.



          The Company shall maintain, with respect to each Series of Securities, at the place or places
specified with respect to such Series pursuant to Section 2.2, an office or agency where Securities
of such Series may be presented or surrendered for payment (“Paying Agent”), where Securities of
such Series may be surrendered for registration of transfer or exchange (“Registrar”) and where
notices and demands to or upon the Company in respect of the Securities of such Series and this
Indenture may be served (“Service Agent”). The Registrar shall keep a register with respect to each
Series of Securities and to their transfer and exchange. The Company will give prompt written
notice to the Trustee of the name and address, and any change in the name or address, of each
Registrar, Paying Agent or Service Agent. If at any time the Company shall fail to maintain any
such required Registrar, Paying Agent or Service Agent or shall fail to furnish the Trustee with
the name and address thereof, such presentations, surrenders, notices and demands may be made or
served at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as
its agent to receive all such presentations, surrenders, notices and demands.




          The Company may also from time to time designate one or more co-registrars, additional paying
agents or additional service agents and may from time to time rescind such designations; provided,
however, that no such designation or rescission shall in any manner relieve the Company of its
obligations to maintain a Registrar, Paying Agent and Service Agent in each place so specified
pursuant to Section 2.2 for Securities of any Series for such purposes. The Company will give
prompt written notice to the Trustee of any such designation or rescission and of any change in the
name or address of any such co-registrar, additional paying agent or additional service agent. The
term “Registrar” includes any co-registrar; the term “Paying Agent” includes any additional paying
agent; and the term “Service Agent” includes any additional service agent.




          The Company hereby appoints the Trustee the initial Registrar, Paying Agent and Service Agent
for each Series unless another Registrar, Paying Agent or Service Agent, as the case may be, is
appointed prior to the time Securities of that Series are first issued.










     Section 2.5. Paying Agent to Hold Money in Trust.



          The Company shall require each Paying Agent other than the Trustee to agree in writing that
the Paying Agent will hold in trust, for the benefit of Securityholders of any Series of
Securities, or the Trustee, all money held by the Paying Agent for the payment of principal of or
interest on the Series of Securities, and will notify the Trustee of any default by the Company in
making any such payment. While any such default continues, the Trustee may require a Paying Agent
to pay all money held by it to the Trustee. The Company at any time may require a Paying Agent to
pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if
other than the Company or a Subsidiary) shall have no further liability for the money. If the
Company or a Subsidiary acts as Paying Agent, it shall segregate and hold in a separate trust fund
for the benefit of Securityholders of any Series of Securities all money held by it as Paying
Agent.





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     Section 2.6. Securityholder Lists.



          The Trustee shall preserve in as current a form as is reasonably practicable the most recent
list available to it of the names and addresses of Securityholders of each Series of Securities and
shall otherwise comply with TIA ss. 312(a). If the Trustee is not the Registrar, the Company shall
furnish to the Trustee at least ten days before each interest payment date and at such other times
as the Trustee may request in writing a list, in such form and as of such date as the Trustee may
reasonably require, of the names and addresses of Securityholders of each Series of Securities.










     Section 2.7. Transfer and Exchange.



          Where Securities of a Series are presented to the Registrar or a co-registrar with a request
to register a transfer or to exchange them for an equal principal amount of Securities of the same
Series, the Registrar shall register the transfer or make the exchange if its requirements for such
transactions are met. To permit registrations of transfers and exchanges, the Trustee shall
authenticate Securities at the Registrar’s request. No service charge shall be made for any
registration of transfer or exchange (except as otherwise expressly permitted herein), but the
Company may require payment of a sum sufficient to cover any transfer tax or similar governmental
charge payable in connection therewith (other than any such transfer tax or similar governmental
charge payable upon exchanges pursuant to Sections 2.11, 3.6 or 9.6).




          Neither the Company nor the Registrar shall be required (a) to issue, register the transfer
of, or exchange Securities of any Series for the period beginning at the opening of business
fifteen days immediately preceding the mailing of a notice of redemption of Securities of that
Series selected for redemption and ending at the close of business on the day of such mailing, or
(b) to register the transfer of or exchange Securities of any Series selected, called or being
called for redemption as a whole or the portion being redeemed of any such Securities selected,
called or being called for redemption in part.









     Section 2.8. Mutilated, Destroyed, Lost and Stolen Securities.



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




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




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




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




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




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










     Section 2.9. Outstanding Securities.



          The Securities outstanding at any time are all the Securities authenticated by the Trustee
except for those canceled by it, those delivered to it for cancellation, those reductions in the
interest on a Global Security effected by the Trustee in accordance with the provisions hereof and
those described in this Section as not outstanding.




          If a Security is replaced pursuant to Section 2.8, it ceases to be outstanding until the
Trustee receives proof satisfactory to it that the replaced Security is held by a bona fide
purchaser.




          If the Paying Agent (other than the Company, a Subsidiary or an Affiliate of any thereof)
holds on the Maturity of Securities of a Series money sufficient to pay such Securities payable on
that date, then on and after that date such Securities of the Series cease to be outstanding and
interest on them ceases to accrue.




          A Security does not cease to be outstanding because the Company or an Affiliate holds the
Security.




          In determining whether the Holders of the requisite principal amount of outstanding Securities
have given any request, demand, authorization, direction, notice, consent or waiver hereunder, the
principal amount of a Discount 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 6.2.




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     Section 2.10. Treasury Securities.



          In determining whether the Holders of the required principal amount of Securities of a Series
have concurred in any request, demand, authorization, direction, notice, consent or waiver
Securities of a Series owned by the Company or an Affiliate shall be disregarded, except that for
the purposes of determining whether the Trustee shall be protected in relying on any such request,
demand, authorization, direction, notice, consent or waiver only Securities of a Series that the
Trustee knows are so owned shall be so disregarded.










     Section 2.11. Temporary Securities.



          Until definitive Securities are ready for delivery, the Company may prepare and the Trustee
shall authenticate temporary Securities upon a Company Order. Temporary Securities shall be
substantially in the form of definitive Securities but may have variations that the Company
considers appropriate for temporary Securities. Without unreasonable delay, the Company shall
prepare and the Trustee upon request shall authenticate definitive Securities of the same Series
and date of maturity in exchange for temporary Securities. Until so exchanged, temporary securities
shall have the same rights under this Indenture as the definitive Securities.










     Section 2.12. Cancellation.



          The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar
and the Paying Agent shall forward to the Trustee any Securities surrendered to them for
registration of transfer, exchange or payment. The Trustee shall cancel all Securities surrendered
for transfer, exchange, payment, replacement or cancellation and shall destroy such canceled
Securities (subject to the record retention requirement of the Exchange Act) and deliver a
certificate of such destruction to the Company, unless the Company otherwise directs. The Company
may not issue new Securities to replace Securities that it has paid or delivered to the Trustee for
cancellation.










     Section 2.13. Defaulted Interest.



          If the Company defaults in a payment of interest on a Series of Securities, it shall pay the
defaulted interest, plus, to the extent permitted by law, any interest payable on the defaulted
interest, to the persons who are Securityholders of the Series on a subsequent special record date.
The Company shall fix the record date and payment date. At least 30 days before the record date,
the Company shall mail to the Trustee and to each Securityholder of the Series a notice that states
the record date, the payment date and the amount of interest to be paid. The Company may pay
defaulted interest in any other lawful manner.










     Section 2.14. Global Securities.



          2.14.1. Terms of Securities. A Board Resolution, a supplemental indenture hereto or an
Officers’ Certificate shall establish whether the Securities of a Series shall be issued in whole
or in part in the form of one or more Global Securities and the Depository for such Global Security
or Securities.




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          2.14.2. Transfer and Exchange. Notwithstanding any provisions to the contrary contained in
Section 2.7 of the Indenture and in addition thereto, any Global Security shall be exchangeable
pursuant to Section 2.7 of the Indenture for Securities registered in the names of Holders other
than the Depository for such Security or its nominee only if (i) such Depository notifies the
Company that it is unwilling or unable to continue as Depository for such Global Security or if at
any time such Depository ceases to be a clearing agency registered under the Exchange Act, and, in
either case, the Company fails to appoint a successor Depository within 90 days of such event, (ii)
the Company executes and delivers to the Trustee an Officers’ Certificate to the effect that such
Global Security shall be so exchangeable or (iii) an Event of Default with respect to the
Securities represented by such Global Security shall have happened and be continuing. Any Global
Security that is exchangeable pursuant to the preceding sentence shall be exchangeable for
Securities registered in such names as the Depository shall direct in writing in an aggregate
principal amount equal to the principal amount of the Global Security with like tenor and terms.




          Except as provided in this Section 2.14.2, a Global Security may not be transferred except as
a whole by the Depository with respect to such Global Security to a nominee of such Depository, by
a nominee of such Depository to such Depository or another nominee of such Depository or by the
Depository or any such nominee to a successor Depository or a nominee of such a successor
Depository.




          2.14.3. Legend. Any Global Security issued hereunder shall bear a legend in substantially the
following form:




          “This Security is a Global Security within the meaning of the Indenture hereinafter referred
to and is registered in the name of the Depository or a nominee of the Depository. This Security is
exchangeable for Securities registered in the name of a person other than the Depository or its
nominee only in the limited circumstances described in the Indenture, and may not be transferred
except as a whole by the Depository to a nominee of the Depository, by a nominee of the Depository
to the Depository or another nominee of the Depository or by the Depository or any such nominee to
a successor Depository or a nominee of such a successor Depository.”




          2.14.4. Acts of Holders. The Depository, as a Holder, may appoint agents and otherwise
authorize participants to give or take any request, demand, authorization, direction, notice,
consent, waiver or other action which a Holder is entitled to give or take under the Indenture.




          2.14.5. Payments. Notwithstanding the other provisions of this Indenture, unless otherwise
specified as contemplated by Section 2.2, payment of the principal of and interest, if any, on any
Global Security shall be made to the Holder thereof.




          2.14.6. Consents, Declaration and Directions. Except as provided in Section 2.14.5, the
Company, the Trustee and any Agent shall treat a person as the Holder of such principal amount of
outstanding Securities of such Series represented by a Global Security as shall be specified in a
written statement of the Depositary with respect to such Global Security,





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for purposes of obtaining any consents, declarations, waivers or directions required to be given by
the Holders pursuant to this Indenture.









     Section 2.15. CUSIP Numbers.



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










ARTICLE III.




REDEMPTION









     Section 3.1. Notice to Trustee.



          The Company may, with respect to any Series of Securities, reserve the right to redeem and pay
the Series of Securities or may covenant to redeem and pay the Series of Securities or any part
thereof prior to the Stated Maturity thereof at such time and on such terms as provided for in such
Securities. If a Series of Securities is redeemable and the Company wants or is obligated to redeem
prior to the Stated Maturity thereof all or part of the Series of Securities pursuant to the terms
of such Securities, it shall notify the Trustee of the redemption date and the principal amount of
Series of Securities to be redeemed. The Company shall give the notice at least 45 days before the
redemption date (or such shorter notice as may be acceptable to the Trustee).










     Section 3.2. Selection of Securities to be Redeemed.



          Unless otherwise indicated for a particular Series by a Board Resolution, a supplemental
indenture or an Officers’ Certificate, if less than all the Securities of a Series are to be
redeemed, the Trustee shall select the Securities of the Series to be redeemed in any manner that
the Trustee deems fair and appropriate. The Trustee shall make the selection from Securities of the
Series outstanding not previously called for redemption. The Trustee may select for redemption
portions of the principal of Securities of the Series that have denominations larger than $1,000.
Securities of the Series and portions of them it selects shall be in amounts of $1,000 or whole
multiples of $1,000 or, with respect to Securities of any Series issuable in other denominations
pursuant to Section 2.2.10, the minimum principal denomination for each Series and integral
multiples thereof. Provisions of this Indenture that apply to Securities of a Series called for
redemption also apply to portions of Securities of that Series called for redemption.










     Section 3.3. Notice of Redemption.



          Unless otherwise indicated for a particular Series by Board Resolution, a supplemental
indenture hereto or an Officers’ Certificate, at least 30 days but not more than 60 days before a
redemption date, the Company shall mail a notice of redemption by first-class mail




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to each Holder whose Securities are to be redeemed and if any Bearer Securities are outstanding,
publish on one occasion a notice in an Authorized Newspaper.




          The notice shall identify the Securities of the Series to be redeemed and shall state:




          
(a) the redemption date;




          (b) the redemption price;




          (c) the name and address of the Paying Agent;




          (d) that Securities of the Series called for redemption
must be surrendered to the Paying Agent to collect the redemption
price;




          (e) that interest on Securities of the Series called for
redemption ceases to accrue on and after the redemption date; and




          (f) any other information as may be required by the terms
of the particular Series or the Securities of a Series being redeemed.




          At the Company’s request, the Trustee shall give the notice of redemption in the Company’s
name and at its expense.










     Section 3.4. Effect of Notice of Redemption.



          Once notice of redemption is mailed or published as provided in Section 3.3, Securities of a
Series called for redemption become due and payable on the redemption date and at the redemption
price. A notice of redemption may not be conditional. Upon surrender to the Paying Agent, such
Securities shall be paid at the redemption price plus accrued interest to the redemption date.










     Section 3.5. Deposit of Redemption Price.



          On or before the redemption date, the Company shall deposit with the Paying Agent money
sufficient to pay the redemption price of and accrued interest, if any, on all Securities to be
redeemed on that date.










     Section 3.6. Securities Redeemed in Part.



          Upon surrender of a Security that is redeemed in part, the Trustee shall authenticate for the
Holder a new Security of the same Series and the same maturity equal in principal amount to the
unredeemed portion of the Security surrendered.




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ARTICLE IV.




COVENANTS








     Section 4.1. Payment of Principal and Interest.



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










     Section 4.2. SEC Reports.



          The Company shall deliver to the Trustee within 15 days after it files them with the SEC
copies of the annual reports and of the information, documents, and other reports (or copies of
such portions of any of the foregoing as the SEC may by rules and regulations prescribe) which the
Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. The
Company also shall comply with the other provisions of TIA ss. 314(a).










     Section 4.3. Compliance Certificate.



          The Company shall deliver to the Trustee, within 90 days after the end of each fiscal year of
the Company, an Officers’ Certificate stating that a review of the activities of the Company and
its Subsidiaries during the preceding fiscal year has been made under the supervision of the
signing Officers with a view to determining whether the Company has kept, observed, performed and
fulfilled its obligations under this Indenture, and further stating, as to each such Officer
signing such certificate, that to the best of his knowledge the Company has kept, observed,
performed and fulfilled each and every covenant contained in this Indenture and is not in default
in the performance or observance of any of the terms, provisions and conditions hereof (or, if a
Default or Event of Default shall have occurred, describing all such Defaults or Events of Default
of which he may have knowledge).




          The Company will, so long as any of the Securities are outstanding, deliver to the Trustee,
forthwith upon becoming aware of any Default or Event of Default, an Officers’ Certificate
specifying such Default or Event of Default and what action the Company is taking or proposes to
take with respect thereto.










     Section 4.4. Stay, Extension and Usury Laws.



          The Company covenants (to the extent that it may lawfully do so) that it will not at any time
insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any
stay, extension or usury law wherever enacted, now or at any time hereafter in force, which may
affect the covenants or the performance of this Indenture or the Securities; and the Company (to
the extent it may lawfully do so) hereby expressly waives all benefit or advantage of any such law
and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of
any power herein granted to the Trustee, but will suffer and permit the execution of every such
power as though no such law has been enacted.




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     Section 4.5. Corporate Existence.



          Subject to Article V, the Company will do or cause to be done all things necessary to preserve
and keep in full force and effect its corporate existence and the corporate, partnership or other
existence of each Significant Subsidiary in accordance with the respective organizational documents
of each Significant Subsidiary and the rights (charter and statutory), licenses and franchises of
the Company and its Significant Subsidiaries; provided, however, that the Company shall not be
required to preserve any such right, license or franchise, or the corporate, partnership or other
existence of any Significant Subsidiary, if the Board of Directors shall determine that the
preservation thereof is no longer desirable in the conduct of the business of the Company and its
Subsidiaries taken as a whole and that the loss thereof is not adverse in any material respect to
the Holders.










     Section 4.6. Taxes.



          The Company shall, and shall cause each of its Significant Subsidiaries to, pay prior to
delinquency all taxes, assessments and governmental levies, except as contested in good faith and
by appropriate proceedings.










ARTICLE V.




SUCCESSORS









     Section 5.1. When Company May Merge, Etc.



          The Company shall not consolidate with or merge into any other person in a transaction in
which we are not the surviving entity, or convey, transfer or lease all or substantially all of its
properties and assets to any person (a “successor person”), unless:





          (a) the successor person (if any) is a corporation,
partnership, trust or other entity organized and validly existing under
the laws of Singapore or any U.S. domestic jurisdiction and expressly
assumes the Company’s obligations on the Securities and under this
Indenture and




          (b) immediately after giving effect to the transaction, no
Default or Event of Default, shall have occurred and be continuing.
The Company shall deliver to the Trustee prior to the consummation of the proposed transaction
an Officers’ Certificate to the foregoing effect and an Opinion of Counsel stating that the
proposed transaction and such supplemental indenture comply with this Indenture.









     Section 5.2. Successor Corporation Substituted.



          Upon any consolidation or merger, or any sale, lease, conveyance or other disposition of all
or substantially all of the assets of the Company in accordance with Section 5.1, the successor
corporation formed by such consolidation or into or with which the Company is merged or to which
such sale, lease, conveyance or other disposition is made shall succeed to, and be substituted for,
and may exercise every right and power of, the Company under this




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Indenture with the same effect as if such successor person has been named as the Company herein;
provided, however, that the predecessor Company in the case of a sale, lease, conveyance or other
disposition shall not be released from the obligation to pay the principal of and interest, if any,
on the Securities.










ARTICLE VI.




DEFAULTS AND REMEDIES









     Section 6.1. Events of Default.



          “Event of Default,” wherever used herein with respect to Securities of any Series, means any
one of the following events, unless in the establishing Board Resolution, supplemental indenture or
Officers’ Certificate, it is provided that such Series shall not have the benefit of said Event of
Default:





          (a) default in the payment of any interest on any Security of
that Series when it becomes due and payable, and continuance of such
default for a period of 30 days (unless the entire amount of such
payment is deposited by the Company with the Trustee or with a Paying
Agent prior to the expiration of such period of 30 days); or




          (b) default in the payment of the principal of any Security of
that Series at its Maturity; or




          (c) default in the deposit of any sinking fund payment, when
and as due in respect of any Security of that Series; or




          (d) default in the performance or breach of any covenant or
warranty of the Company in this Indenture (other than a covenant or
warranty that has been included in this Indenture solely for the
benefit of Series of Securities other than that Series), which default
continues uncured for a period of 90 days after there has been given,
by registered or certified mail, to the Company by the Trustee or to
the Company and the Trustee by the Holders of at least 25% in principal
amount of the outstanding Securities of that Series a written notice
specifying such default or breach and requiring it to be remedied and
stating that such notice is a “Notice of Default” hereunder; or




          (e) a default under any Debt of the Company (including a
default with respect to Securities of any Series other than that
Series) or any Subsidiary, whether such Debt now exists or shall
hereafter be created, if (A) such default results from the failure to
pay any such Debt when it becomes due, (B) the principal amount of such
Debt, together with the principal amount of any other such Debt in
default for failure to pay principal at stated final maturity or the
maturity of which has been so accelerated, aggregates $100 million or
more at any one time outstanding, and (C) such Debt is not discharged
or such acceleration is not rescinded or annulled within 30 days after
written notice to the Company by the holder or holders of such Debt in
the manner provided for in the applicable debt instrument; provided,
that if the default with respect to such Debt is remedied or cured by
the Company or waived by the holders of such Debt before entry of
judgment in favor of the relevant trustee, then the Event of Default
under this Indenture will be deemed likewise to have been remedied,
cured or waived; or



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          (f) the Company or any of its Significant Subsidiaries
pursuant to or within the meaning of any Bankruptcy Law:




     (i) commences a voluntary case,




     (ii) consents to the entry of an order for relief
against it in an involuntary case,




     (iii) consents to the appointment of a Custodian of
it or for all or substantially all of its property,




     (iv) makes a general assignment for the benefit of
its creditors, or




     (v) generally is unable to pay its debts as the same
become due; or




          (g) a court of competent jurisdiction enters an order or
decree under any Bankruptcy Law that:




     (i) is for relief against the Company or any of its
Significant Subsidiaries in an involuntary case,




     (ii) appoints a Custodian of the Company or any of
its Significant Subsidiaries or for all or substantially all

of its property, or




     (iii) orders the liquidation of the Company or any of
its Significant Subsidiaries,


and the order or decree remains unstayed and in effect for 60 days; or





          (h) any other Event of Default provided with respect to
Securities of that Series, which is specified in a Board Resolution, a
supplemental indenture hereto or an Officers’ Certificate, in
accordance with Section 2.2.18.



          No Event of Default with respect to a particular Series of Securities (except with respect to
subsections (f) and (g) above) necessarily constitutes an Event of Default with respect to any
other Series of Securities.




          The term “Bankruptcy Law” means title 11, U.S. Code or any similar Federal or State law for
the relief of debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator or
similar official under any Bankruptcy Law.










     Section 6.2. Acceleration of Maturity; Rescission and Annulment.



          If an Event of Default with respect to Securities of any Series at the time outstanding occurs
and is continuing (other than an Event of Default referred to in Section 6.1(f) or (g)) then in
every such case the Trustee or the Holders of not less than 25% in principal amount of the
outstanding Securities of that Series may declare the principal amount (or, if any Securities of
that Series are Discount Securities, such portion of the principal amount as may be





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specified in the terms of such Securities) of and accrued and unpaid interest, if any, on all of
the Securities of that Series to be due and payable immediately, by a notice in writing to the
Company (and to the Trustee if given by Holders), and upon any such declaration such principal
amount (or specified amount) and accrued and unpaid interest, if any, shall become immediately due
and payable. If an Event of Default specified in Section 6.1(f) or (g) shall occur, the principal
amount (or specified amount) of and accrued and unpaid interest, if any, on all outstanding
Securities shall ipso facto become and be immediately due and payable without any declaration or
other act on the part of the Trustee or any Holder.




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





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




     (i) all overdue interest, if any, on all Securities
of that Series,




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




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




     (iv) all sums paid or advanced by the Trustee
hereunder and the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and
counsel;


and





     (b) all Events of Default with respect to Securities of that
Series, other than the non-payment of the principal of Securities of
that Series which have become due solely by such declaration of
acceleration, have been cured or waived as provided in Section 6.13.



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










     Section 6.3. Collection of Indebtedness and Suits for Enforcement by Trustee.



          The Company covenants that if





     (a) default is made in the payment of any interest on any
Security when such interest becomes due and payable and such default

continues for a period of 30 days, or



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     (b) default is made in the payment of principal of any
Security at the Maturity thereof, or




     (c) default is made in the deposit of any sinking fund payment
when and as due by the terms of a Security,



then, the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of
such Securities, the whole amount then due and payable on such Securities for principal and
interest and, to the extent that payment of such interest shall be legally enforceable, interest on
any overdue principal or any overdue interest, at the rate or rates prescribed therefor in such
Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs
and expenses of collection, including the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel.




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




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










     Section 6.4. Trustee May File Proofs of Claim.



          In case of the pendency of any receivership, insolvency, liquidation, bankruptcy,
reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the
Company or any other obligor upon the Securities or the property of the Company or of such other
obligor or their creditors, the Trustee (irrespective of whether the principal of the Securities
shall then be due and payable as therein expressed or by declaration or otherwise and irrespective
of whether the Trustee shall have made any demand on the Company for the payment of overdue
principal or interest) shall be entitled and empowered, by intervention in such proceeding or
otherwise,





     (a) to file and prove a claim for the whole amount of
principal and interest owing and unpaid in respect of the Securities
and to file such other papers or documents as may be necessary or
advisable in order to have the claims of the Trustee (including any
claim for the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel) and of the Holders
allowed in such judicial proceeding, and



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


and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each Holder to make such payments to the
Trustee and, in the event that the Trustee shall consent to the making of such payments directly to
the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the
Trustee under Section 7.7.




          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 of reorganization, arrangement, adjustment or
composition affecting the Securities or the rights of any Holder thereof or to authorize the
Trustee to vote in respect of the claim of any Holder in any such proceeding.











     Section 6.5. Trustee May Enforce Claims Without Possession of Securities.



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










     Section 6.6. Application of Money Collected.



          Any money collected by the Trustee pursuant to this Article shall be applied in the following
order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on
account of principal or interest, upon presentation of the Securities and the notation thereon of
the payment if only partially paid and upon surrender thereof if fully paid:




          First: To the payment of all amounts due the Trustee under Section 7.7; and




          Second: To the payment of the amounts then due and unpaid for principal of and interest on the
Securities in respect of which or for the benefit of which such money has been collected, ratably,
without preference or priority of any kind, according to the amounts due and payable on such
Securities for principal and interest, respectively; and




          Third: To the Company.








     Section 6.7. Limitation on Suits.



          No Holder of any Security of any Series shall have any right to institute any proceeding,
judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or
trustee, or for any other remedy hereunder, unless




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

of that Series;




     (b) the Holders of not less than 25% in principal amount of
the outstanding Securities of that Series shall have made written
request to the Trustee to institute proceedings in respect of such
Event of Default in its own name as Trustee hereunder;




     (c) such Holder or Holders have offered to the Trustee
reasonable indemnity against the costs, expenses and liabilities to be

incurred in compliance with such request;




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

proceeding; and




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


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










     Section 6.8. Unconditional Right of Holders to Receive Principal and Interest.



          Notwithstanding any other provision in this Indenture, the Holder of any Security shall have
the right, which is absolute and unconditional, to receive payment of the principal of and
interest, if any, on such Security on the Stated Maturity or Stated Maturities expressed in such
Security (or, in the case of redemption, on the redemption date) and to institute suit for the
enforcement of any such payment, and such rights shall not be impaired without the consent of such
Holder.










     Section 6.9. Restoration of Rights and Remedies.



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










     Section 6.10. Rights and Remedies Cumulative.



          Except as otherwise provided with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities in Section 2.8, no right or remedy herein conferred upon or
reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy,
and every right and remedy shall, to the extent permitted by law, be cumulative and in





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addition to every other right and remedy given hereunder or now or hereafter existing at law or in
equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise,
shall not prevent the concurrent assertion or employment of any other appropriate right or remedy.










     Section 6.11. Delay or Omission Not Waiver.



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









     Section 6.12. Control by Holders.



          The Holders of a majority in principal amount of the outstanding Securities of any Series
shall have the right to direct the time, method and place of conducting any proceeding for any
remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with
respect to the Securities of such Series, provided that





     (a) such direction shall not be in conflict with any rule of
law or with this Indenture,




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




     (c) subject to the provisions of Section 6.1, the Trustee
shall have the right to decline to follow any such direction if the
Trustee in good faith shall, by a Responsible Officer of the Trustee,
determine that the proceeding so directed would involve the Trustee in
personal liability.









     Section 6.13. Waiver of Past Defaults.



          The Holders of not less than a majority in principal amount of the outstanding Securities of
any Series may on behalf of the Holders of all the Securities of such Series waive any past Default
hereunder with respect to such Series and its consequences, except a Default in the payment of the
principal of or interest on any Security of such Series (provided, however, that the Holders of a
majority in principal amount of the outstanding Securities of any Series may rescind an
acceleration and its consequences, including any related payment default that resulted from such
acceleration). Upon any such waiver, such Default shall cease to exist, and any Event of Default
arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no
such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.










     Section 6.14. Undertaking for Costs.



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










ARTICLE VII.




TRUSTEE









     Section 7.1. Duties of Trustee.




     (a) If an Event of Default has occurred and is continuing, the
Trustee shall exercise the rights and powers vested in it by this
Indenture and use the same degree of care and skill in their exercise
as a prudent man would exercise or use under the circumstances in the
conduct of his own affairs.




     (b) Except during the continuance of an Event of Default:




     (i) The Trustee need perform only those duties that
are specifically set forth in this Indenture and no others.




     (ii) In the absence of bad faith on its part, the
Trustee may conclusively rely, as to the truth of the
statements and the correctness of the opinions expressed
therein, upon Officers’ Certificates or Opinions of Counsel
furnished to the Trustee and conforming to the requirements of
this Indenture; however, in the case of any such Officers’
Certificates or Opinions of Counsel which by any provisions
hereof are specifically required to be furnished to the
Trustee, the Trustee shall examine such Officers’ Certificates
and Opinions of Counsel to determine whether or not they
conform to the requirements of this Indenture.




     (c) The Trustee may not be relieved from liability for its own
negligent action, its own negligent failure to act or its own willful

misconduct, except that:




     (i) This paragraph does not limit the effect of
paragraph (b) of this Section.




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



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     (iii) The Trustee shall not be liable with respect to
any action taken, suffered or omitted to be taken by it with
respect to Securities of any Series in good faith in
accordance with the direction of the Holders of a majority in
principal amount of the outstanding Securities of such Series
relating to the time, method and place of conducting any
proceeding for any remedy available to the Trustee, or
exercising any trust or power conferred upon the Trustee,
under this Indenture with respect to the Securities of such
Series.



     (d) Every provision of this Indenture that in any way relates
to the Trustee is subject to paragraph (a), (b) and (c) of this

Section.



     (e) The Trustee may refuse to perform any duty or exercise any
right or power unless it receives indemnity satisfactory to it against

any loss, liability or expense.



     (f) The Trustee shall not be liable for interest on any money
received by it except as the Trustee may agree in writing with the
Company. Money held in trust by the Trustee need not be segregated from
other funds except to the extent required by law.



     (g) No provision of this Indenture shall require the Trustee
to risk its own funds or otherwise incur any financial liability in the
performance of any of its duties, 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 is
not reasonably assured to it.



     (h) The Paying Agent, the Registrar and any authenticating
agent shall be entitled to the protections, immunities and standard of
care as are set forth in paragraphs (a), (b) and (c) of this Section
with respect to the Trustee.









Section 7.2. Rights of Trustee.




     (a) The Trustee may rely on and shall be protected in acting
or refraining from acting as a result of its reasonable belief that any
document was genuine and had been signed or presented by the proper
person. The Trustee need not investigate any fact or matter stated in
the document.




     (b) Before the Trustee acts or refrains from acting, it may
require an Officers’ Certificate or an Opinion of Counsel. The Trustee
shall not be liable for any action it takes or omits to take in good
faith in reliance on such Officers’ Certificate or Opinion of Counsel.




     (c) The Trustee may act through agents and shall not be
responsible for the misconduct or negligence of any agent appointed
with due care; provided that such agent agree as a condition to its
engagement that it shall be responsible to the Company for its own
misconduct or negligence. No Depository shall be deemed an agent of the
Trustee and the Trustee shall not be responsible for any act or
omission by any Depository.




     (d) The Trustee shall not be liable for any action it takes or
omits to take in good faith which it believes to be authorized or

within its rights or powers.



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     (e) 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, suffered
or omitted by it hereunder in good faith and in reliance thereon.




     (f) The Trustee shall be under no obligation to exercise any
of the rights or powers vested in it by this Indenture at the request
or direction of any of the Holders of Securities unless such Holders
shall have offered to the Trustee reasonable security or indemnity
against the costs, expenses and liabilities which might be incurred by
it in compliance with such request or direction.









     Section 7.3. Individual Rights of Trustee.



          The Trustee in its individual or any other capacity may become the owner or pledgee of
Securities and may otherwise deal with the Company or an Affiliate with the same rights it would
have if it were not Trustee. Any Agent may do the same with like rights. The Trustee is also
subject to Sections 7.10 and 7.11.










     Section 7.4. Trustee’s Disclaimer.



          The Trustee makes no representation as to the validity or adequacy of this Indenture or the
Securities, it shall not be accountable for the Company’s use of the proceeds from the Securities,
and it shall not be responsible for any statement in the Securities other than its authentication.










     Section 7.5. Notice of Defaults.



          If a Default or Event of Default occurs and is continuing with respect to the Securities of
any Series and if it is known to a Responsible Officer of the Trustee, the Trustee shall mail to
each Securityholder of the Securities of that Series and, if any Bearer Securities are outstanding,
publish on one occasion in an Authorized Newspaper, notice of a Default or Event of Default within
90 days after it occurs or, if later, after a Responsible Officer of the Trustee has knowledge of
such Default or Event of Default. Except in the case of a Default or Event of Default in payment of
principal of or interest on any Security of any Series, the Trustee may withhold the notice if and
so long as its corporate trust committee or a committee of its Responsible Officers in good faith
determines that withholding the notice is in the interests of Securityholders of that Series.










     Section 7.6. Reports by Trustee to Holders.



          Within 60 days after May 15 in each year, the Trustee shall transmit by mail to all
Securityholders, as their names and addresses appear on the register kept by the Registrar and, if
any Bearer Securities are outstanding, publish in an Authorized Newspaper, a brief report dated as
of such May 15, in accordance with, and to the extent required under, TIA ss. 313.




          A copy of each report at the time of its mailing to Securityholders of any Series shall be
filed with the SEC and each stock exchange on which the Securities of that Series are





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listed. The Company shall promptly notify the Trustee when Securities of any Series are listed on
any stock exchange.









     Section 7.7. Compensation and Indemnity.



          The Company shall pay to the Trustee from time to time reasonable compensation for its
services. The Trustee’s compensation shall not be limited by any law on compensation of a trustee
of an express trust. The Company shall reimburse the Trustee upon request for all reasonable
out-of-pocket expenses incurred by it. Such expenses shall include the reasonable compensation and
expenses of the Trustee’s agents and counsel.




          The Company shall indemnify the Trustee (including the cost of defending itself) against any
loss, liability or expense incurred by it except as set forth in the next paragraph in the
performance of its duties under this Indenture as Trustee or Agent. The Trustee shall notify the
Company promptly of any claim for which it may seek indemnity. The Company shall defend the claim
and the Trustee shall cooperate in the defense. The Trustee may have separate counsel and the
Company shall pay the reasonable fees and expenses of such counsel. The Company need not pay for
any settlement made without its consent, which consent shall not be unreasonably withheld. This
indemnification shall apply to officers, directors, employees, shareholders and agents of the
Trustee.




          The Company need not reimburse any expense or indemnify against any loss or liability incurred
by the Trustee or by any officer, director, employee, shareholder or agent of the Trustee through
negligence or bad faith.




          To secure the Company’s payment obligations in this Section, the Trustee shall have a lien
prior to the Securities of any Series on all money or property held or collected by the Trustee,
except that held in trust to pay principal and interest on particular Securities of that Series.




          When the Trustee incurs expenses or renders services after an Event of Default specified in
Section 6.1(f) or (g) occurs, the expenses and the compensation for the services are intended to
constitute expenses of administration under any Bankruptcy Law.










     Section 7.8. Replacement of Trustee.



          A resignation or removal of the Trustee and appointment of a successor Trustee shall become
effective only upon the successor Trustee’s acceptance of appointment as provided in this Section.




          The Trustee may resign with respect to the Securities of one or more Series by so notifying
the Company. The Holders of a majority in principal amount of the Securities of any Series may
remove the Trustee with respect to that Series by so notifying the Trustee and the Company. The
Company may remove the Trustee with respect to Securities of one or more Series if:





     (a) the Trustee fails to comply with Section 7.10;



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     (b) the Trustee is adjudged a bankrupt or an insolvent or an
order for relief is entered with respect to the Trustee under any

Bankruptcy Law;




     (c) a Custodian or public officer takes charge of the Trustee
or its property; or




     (d) the Trustee becomes incapable of acting.



          If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any
reason, the Company shall promptly appoint a successor Trustee. Within one year after the successor
Trustee takes office, the Holders of a majority in principal amount of the then outstanding
Securities may appoint a successor Trustee to replace the successor Trustee appointed by the
Company.




          If a successor Trustee with respect to the Securities of any one or more Series does not take
office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the
Company or the Holders of at least 10% in principal amount of the Securities of the applicable
Series may petition any court of competent jurisdiction for the appointment of a successor Trustee.




          If the Trustee with respect to the Securities of any one or more Series fails to comply with
Section 7.10, any Securityholder of the applicable Series may petition any court of competent
jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.




          A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Company. Immediately after that, the retiring Trustee shall transfer all
property held by it as Trustee to the successor Trustee subject to the lien provided for in Section
7.7, the resignation or removal of the retiring Trustee shall become effective, and the successor
Trustee shall have all the rights, powers and duties of the Trustee with respect to each Series of
Securities for which it is acting as Trustee under this Indenture. A successor Trustee shall mail a
notice of its succession to each Securityholder of each such Series and, if any Bearer Securities
are outstanding, publish such notice on one occasion in an Authorized Newspaper. Notwithstanding
replacement of the Trustee pursuant to this Section 7.8, the Company’s obligations under Section
7.7 hereof shall continue for the benefit of the retiring trustee with respect to expenses and
liabilities incurred by it prior to such replacement.








     Section 7.9. Successor Trustee by Merger, etc.



          If the Trustee consolidates with, merges or converts into, or transfers all or substantially
all of its corporate trust business to, another corporation, the successor corporation without any
further act shall be the successor Trustee.










     Section 7.10. Eligibility; Disqualification.



          This Indenture shall always have a Trustee who satisfies the requirements of TIA ss.
310(a)(1), (2) and (5). The Trustee shall always have a combined capital and surplus of at least
$25,000,000 as set forth in its most recent published annual report of condition. The Trustee shall
comply with TIA ss. 310(b).




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     Section 7.11. Preferential Collection of Claims Against Company.



          The Trustee is subject to TIA ss. 311(a), excluding any creditor relationship listed in TIA
ss. 311(b). A Trustee who has resigned or been removed shall be subject to TIA ss. 311(a) to the
extent indicated.









ARTICLE VIII.




SATISFACTION AND DISCHARGE; DEFEASANCE









     Section 8.1. Satisfaction and Discharge of Indenture.



          This Indenture shall upon Company Order cease to be of further effect (except as hereinafter
provided in this Section 8.1), and the Trustee, at the expense of the Company, shall execute proper
instruments acknowledging satisfaction and discharge of this Indenture, when





     (a) either




     (i) all Securities theretofore authenticated and
delivered (other than Securities that have been destroyed,
lost or stolen and that have been replaced or paid) have been
delivered to the Trustee for cancellation; or




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




     (1) have become due and payable, or




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




     (3) 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, or




     (4) are deemed paid and discharged pursuant
to Section 8.3, as applicable;


and the Company, in the case of (1), (2) or (3) above, has deposited or caused to be deposited with
the Trustee as trust funds in trust an amount sufficient for the purpose of paying and discharging
the entire indebtedness on such Securities not theretofore delivered to the Trustee for
cancellation, for principal and interest to the date of such deposit (in the case of Securities
which have become due and payable on or prior to the date of such deposit) or to the Stated
Maturity or redemption date, as the case may be;





     (b) the Company has paid or caused to be paid all other sums
payable hereunder by the Company; and



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



          Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the
Company to the Trustee under Section 7.7, and, if money shall have been deposited with the Trustee
pursuant to clause (a) of this Section, the provisions of Sections 2.4, 2.7, 2.8, 8.1 8.2 and 8.5
shall survive.










     Section 8.2. Application of Trust Funds; Indemnification.




     (a) Subject to the provisions of Section 8.5, all money
deposited with the Trustee pursuant to Section 8.1, all money and U.S.
Government Obligations or Foreign Government Obligations deposited with
the Trustee pursuant to Section 8.3 or 8.4 and all money received by
the Trustee in respect of U.S. Government Obligations or Foreign
Government Obligations deposited with the Trustee pursuant to Section
8.3 or 8.4, shall be held in trust and applied by it, in accordance
with the provisions of the Securities and this Indenture, to the
payment, either directly or through any Paying Agent (including the
Company acting as its own Paying Agent) as the Trustee may determine,
to the persons entitled thereto, of the principal and interest for
whose payment such money has been deposited with or received by the
Trustee or to make mandatory sinking fund payments or analogous
payments as contemplated by Sections 8.3 or 8.4.




     (b) The Company shall pay and shall indemnify the Trustee
against any tax, fee or other charge imposed on or assessed against
U.S. Government Obligations or Foreign Government Obligations deposited
pursuant to Sections 8.3 or 8.4 or the interest and principal received
in respect of such obligations other than any payable by or on behalf
of Holders.




     (c) The Trustee shall deliver or pay to the Company from time
to time upon Company Request any U.S. Government Obligations or Foreign
Government Obligations or money held by it as provided in Sections 8.3
or 8.4 which, in the opinion of a nationally recognized firm of
independent certified 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 U.S. Government Obligations or Foreign
Government Obligations or money were deposited or received. This
provision shall not authorize the sale by the Trustee of any U.S.
Government Obligations or Foreign Government Obligations held under
this Indenture.









     Section 8.3. Legal Defeasance of Securities of any Series.



          Unless this Section 8.3 is otherwise specified, pursuant to Section 2.2.20, to be inapplicable
to Securities of any Series, the Company shall be deemed to have paid and discharged the entire
indebtedness on all the outstanding Securities of such Series on the 91st day after the date of the
deposit referred to in subparagraph (d) hereof, and the provisions of this Indenture, as it relates
to such outstanding Securities of such Series, shall no longer be in effect




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(and the Trustee, at the expense of the Company, shall, at Company Request, execute proper
instruments acknowledging the same), except as to:





     (a) the rights of Holders of Securities of such Series to
receive, from the trust funds described in subparagraph (d) hereof, (i)
payment of the principal of and each installment of principal of and
interest on the outstanding Securities of such Series on the Stated
Maturity of such principal or installment of principal or interest and
(ii) the benefit of any mandatory sinking fund payments applicable to
the Securities of such Series on the day on which such payments are due
and payable in accordance with the terms of this Indenture and the
Securities of such Series;




     (b) the provisions of Sections 2.4, 2.7, 2.8, 8.2, 8.3 and
8.5; and




     (c) the rights, powers, trust and immunities of the Trustee
hereunder;


provided that, the following conditions shall have been satisfied:





     (d) the Company shall have deposited or caused to be deposited
irrevocably with the Trustee as trust funds in trust for the purpose of
making the following payments, specifically pledged as security for and
dedicated solely to the benefit of the Holders of such Securities (i)
in the case of Securities of such Series denominated in Dollars, cash
in Dollars (or such other money or currencies as shall then be legal
tender in the United States) and/or U.S. Government Obligations, or
(ii) in the case of Securities of such Series denominated in a Foreign
Currency (other than a composite currency), money and/or Foreign
Government Obligations, which through the payment of interest and
principal in respect thereof, in accordance with their terms, will
provide (and without reinvestment and assuming no tax liability will be
imposed on such Trustee), not later than one day before the due date of
any payment of money, an amount in cash, sufficient, 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 each installment of principal (including mandatory
sinking fund or analogous payments) of and interest, if any, on all the
Securities of such Series on the dates such installments of interest or
principal are due;




     (e) such deposit will not result in a breach or violation of,
or constitute a default under, this Indenture or any other agreement or

instrument to which the Company is a party or by which it is bound;




     (f) no Default or Event of Default with respect to the
Securities of such Series shall have occurred and be continuing on the
date of such deposit or during the period ending on the 91st day after
such date;




     (g) the Company shall have delivered to the Trustee an
Officers’ Certificate and an Opinion of Counsel to the effect that (i)
the Company has received from, or there has been published by, the
Internal Revenue Service a ruling, or (ii) since the date of execution
of this Indenture, there has been a change in the applicable Federal
income tax law, in either case to the effect that, and based thereon
such Opinion of Counsel shall confirm that, the Holders of the
Securities of such Series will not recognize income, gain



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or loss for Federal income tax purposes as a result of such deposit,
defeasance and discharge and will be subject to Federal income tax on
the same amount and in the same manner and at the same times as would
have been the case if such deposit, defeasance and discharge had not
occurred;




     (h) the Company shall have delivered to the Trustee an
Officers’ Certificate stating that the deposit was not made by the
Company with the intent of preferring the Holders of the Securities of
such Series over any other creditors of the company or with the intent
of defeating, hindering, delaying or defrauding any other creditors of
the Company;




     (i) such deposit shall not result in the trust arising from
such deposit constituting an investment company (as defined in the
Investment Company Act of 1940, as amended), or such trust shall be
qualified under such Act or exempt from regulation thereunder; and




     (j) the Company shall have delivered to the Trustee an
Officers’ Certificate and an Opinion of Counsel, each stating that all
conditions precedent provided for relating to the defeasance
contemplated by this Section have been complied with.









     Section 8.4. Covenant Defeasance.




          Unless this Section 8.4 is otherwise specified pursuant to Section 2.2.20 to be inapplicable
to Securities of any Series, on and after the 91st day after the date of the deposit referred to in
subparagraph (a) hereof, the Company may omit to comply with any term, provision or condition set
forth under Sections 4.2, 4.3, 4.4, 4.5, 4.6, and 5.1 as well as any additional covenants contained
in a supplemental indenture hereto for a particular Series of Securities or a Board Resolution or
an Officers’ Certificate delivered pursuant to Section 2.2.20 (and the failure to comply with any
such covenants shall not constitute a Default or Event of Default under Section 6.1) and the
occurrence of any event described in clause (e) of Section 6.1 shall not constitute a Default or
Event of Default hereunder, with respect to the Securities of such Series, provided that the
following conditions shall have been satisfied:





     (a) With reference to this Section 8.4, the Company has
deposited or caused to be irrevocably deposited (except as provided in
Section 8.2(c)) with the Trustee as trust funds in trust, specifically
pledged as security for, and dedicated solely to, the benefit of the
Holders of such Securities (i) in the case of Securities of such Series
denominated in Dollars, cash in Dollars (or such other money or
currencies as shall then be legal tender in the United States) and/or
U.S. Government Obligations, or (ii) in the case of Securities of such
Series denominated in a Foreign Currency (other than a composite
currency), money and/or Foreign Government Obligations, which through
the payment of interest and principal in respect thereof, in accordance
with their terms, will provide (and without reinvestment and assuming
no tax liability will be imposed on such Trustee), not later than one
day before the due date of any payment of money, an amount in cash,
sufficient, in the opinion of a nationally recognized firm of
independent certified public accountants expressed in a written
certification thereof delivered to the Trustee, to



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pay principal and interest, if any, on and any mandatory sinking fund
in respect of the Securities of such Series on the dates such
installments of interest or principal are due;




     (b) Such deposit will not result in a breach or violation of,
or constitute a default under, this Indenture or any other agreement or

instrument to which the Company is a party or by which it is bound;




     (c) No Default or Event of Default with respect to the
Securities of such Series shall have occurred and be continuing on the
date of such deposit or during the period ending on the 91st day after
such date;




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




     (e) the Company shall have delivered to the Trustee an
Officers’ Certificate stating the deposit was not made by the Company
with the intent of preferring the Holders of the Securities of such
Series over any other creditors of the Company or with the intent of
defeating, hindering, delaying or defrauding any other creditors of the
Company; and




     (f) The Company shall have delivered to the Trustee an
Officers’ Certificate and an Opinion of Counsel, each stating that all
conditions precedent herein provided for relating to the defeasance
contemplated by this Section have been complied with.









     Section 8.5. Repayment to Company.




          The Trustee and the Paying Agent shall pay to the Company upon request any money held by them
for the payment of principal and interest that remains unclaimed for two years. After that,
Securityholders entitled to the money must look to the Company for payment as general creditors
unless an applicable abandoned property law designates another person.










ARTICLE IX.



AMENDMENTS AND WAIVERS









     Section 9.1. Without Consent of Holders.



          The Company and the Trustee may amend or supplement this Indenture or the Securities of one or
more Series without the consent of any Securityholder:





     (a) to cure any ambiguity, defect or inconsistency;




     (b) to comply with Article V;




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



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     (d) to make any change that does not adversely affect the
rights of any Securityholder;




     (e) to provide for the issuance of and establish the form and
terms and conditions of Securities of any Series as permitted by this

Indenture;




     (f) to evidence and provide for the acceptance of appointment
hereunder by a successor Trustee with respect to the Securities of one
or more Series and to add to or change any of the provisions of this
Indenture as shall be necessary to provide for or facilitate the
administration of the trusts hereunder by more than one Trustee; or




     (g) to comply with requirements of the SEC in order to effect
or maintain the qualification of this Indenture under the TIA.









 
     Section 9.2. With Consent of Holders.



          The Company and the Trustee may enter into a supplemental indenture with the written consent
of the Holders of at least a majority in principal amount of the outstanding Securities of each
Series affected by such supplemental indenture (including consents obtained in connection with a
tender offer or exchange offer for the Securities of such Series), 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 Securityholders of
each such Series. Except as provided in Section 6.13, the Holders of at least a majority in
principal amount of the outstanding Securities of each Series affected by such waiver by notice to
the Trustee (including consents obtained in connection with a tender offer or exchange offer for
the Securities of such Series) may waive compliance by the Company with any provision of this
Indenture or the Securities with respect to such Series.




          It shall not be necessary for the consent of the Holders of Securities under this Section 9.2
to approve the particular form of any proposed supplemental indenture or waiver, but it shall be
sufficient if such consent approves the substance thereof. After a supplemental indenture or waiver
under this section becomes effective, the Company shall mail to the Holders of Securities affected
thereby and, if any Bearer Securities affected thereby are outstanding, publish on one occasion in
an Authorized Newspaper, a notice briefly describing the supplemental indenture or waiver. Any
failure by the Company to mail or publish such notice, or any defect therein, shall not, however,
in any way impair or affect the validity of any such supplemental indenture or waiver.









     Section 9.3. Limitations.



          Without the consent of each Securityholder affected, an amendment or waiver may not:





     (a) change the amount of Securities whose Holders must consent
to an amendment, supplement or waiver;




     (b) reduce the rate of or extend the time for payment of
interest (including default interest) on any Security;



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     (c) reduce the principal or change the Stated Maturity of
any Security or reduce the amount of, or postpone the date fixed for,

the payment of any sinking fund or analogous obligation;




     (d) reduce the principal amount of Discount Securities payable
upon acceleration of the maturity thereof;




     (e) waive a Default or Event of Default in the payment of the
principal of or interest, if any, on any Security (except a rescission
of acceleration of the Securities of any Series by the Holders of at
least a majority in principal amount of the outstanding Securities of
such Series and a waiver of the payment default that resulted from such
acceleration);




     (f) make the principal of or interest, if any, on any Security
payable in any currency other than that stated in the Security;




     (g) make any change in Sections 6.8, 6.13, 9.3 (this
sentence), 10.15 or 10.16; or




     (h) waive a redemption payment with respect to any Security or
change any of the provisions with respect to the redemption of any

Securities.








     Section 9.4. Compliance with Trust Indenture Act.



          Every amendment to this Indenture or the Securities of one or more Series shall be set forth
in a supplemental indenture hereto that complies with the TIA as then in effect.










     Section 9.5. Revocation and Effect of Consents.



          Until an amendment or waiver becomes effective, a consent to it by a Holder of a Security is a
continuing consent by the Holder and every subsequent Holder of a Security or portion of a Security
that evidences the same debt as the consenting Holder’s Security, even if notation of the consent
is not made on any Security. However, any such Holder or subsequent Holder may revoke the consent
as to his Security or portion of a Security if the Trustee receives the notice of revocation before
the date the amendment or waiver becomes effective.




          Any amendment or waiver once effective shall bind every Securityholder of each Series affected
by such amendment or waiver unless it is of the type described in any of clauses (a) through (g) of
Section 9.3. In that case, the amendment or waiver shall bind each Holder of a Security who has
consented to it and every subsequent Holder of a Security or portion of a Security that evidences
the same debt as the consenting Holder’s Security.










     Section 9.6. Notation on or Exchange of Securities.



          The Trustee may place an appropriate notation about an amendment or waiver on any Security of
any Series thereafter authenticated. The Company in exchange for Securities of that Series may
issue and the Trustee shall authenticate upon request new Securities of that Series that reflect
the amendment or waiver.




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     Section 9.7. Trustee Protected.



          In executing, or accepting the additional trusts created by, any supplemental indenture
permitted by this Article or the modifications thereby of the trusts created by this Indenture, the
Trustee shall be entitled to receive, and (subject to Section 7.1) shall be fully protected in
relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is
authorized or permitted by this Indenture. The Trustee shall sign all supplemental indentures,
except that the Trustee need not sign any supplemental indenture that adversely affects its rights.










ARTICLE X.



MISCELLANEOUS







     Section 10.1. Trust Indenture Act Controls.



          If any provision of this Indenture limits, qualifies, or conflicts with another provision
which is required or deemed to be included in this Indenture by the TIA, such required or deemed
provision shall control.










     Section 10.2. Notices.



          Any notice or communication by the Company or the Trustee to the other is duly given if in
writing and delivered in person or mailed by first-class mail:




if to the Company:



Chartered Semiconductor Manufacturing Ltd

60 Woodlands Industrial Park D

Street 2, Singapore 738406



Attention: Legal Department



if to the Trustee:



Wells Fargo Bank Minnesota, National Association

213 Court Street, Suite 902

Middletown, Connecticut 06457

USA



Attention: Corporate Trust Services



          The Company or the Trustee by notice to the other may designate additional or different
addresses for subsequent notices or communications.




          Any notice or communication to a Securityholder shall be mailed by first-class mail to his
address shown on the register kept by the Registrar and, if any Bearer Securities are outstanding,
published in an Authorized Newspaper. Failure to mail a notice or communication




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to a Securityholder of any Series or any defect in it shall not affect its sufficiency with respect
to other Securityholders of that or any other Series.




          If a notice or communication is mailed or published in the manner provided above, within the
time prescribed, it is duly given, whether or not the Securityholder receives it.




          If the Company mails a notice or communication to Securityholders, it shall mail a copy to the
Trustee and each Agent at the same time.










     Section 10.3. Communication by Holders with Other Holders.



          Securityholders of any Series may communicate pursuant to TIA ss. 312(b) with other
Securityholders of that Series or any other Series with respect to their rights under this
Indenture or the Securities of that Series or all Series. The Company, the Trustee, the Registrar
and anyone else shall have the protection of TIA ss. 312(c).










     Section 10.4. Certificate and Opinion as to Conditions Precedent.



          Upon any request or application by the Company to the Trustee to take any action under this
Indenture, the Company shall furnish to the Trustee:





     (a) an Officers’ Certificate stating that, in the opinion of
the signers, all conditions precedent, if any, provided for in this

Indenture relating to the proposed action have been complied with; and




     (b) an Opinion of Counsel stating that, in the opinion of such
counsel, all such conditions precedent have been complied with.









     Section 10.5. Statements Required in Certificate or Opinion.



          Each certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture (other than a certificate provided pursuant to TIA ss. 314(a)(4)) shall
comply with the provisions of TIA ss. 314(e) and shall include:




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



     (b) 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;



     (c) 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



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



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     Section 10.6. Rules by Trustee and Agents.



          The Trustee may make reasonable rules for action by or a meeting of Securityholders of one or
more Series. Any Agent may make reasonable rules and set reasonable requirements for its functions.









     Section 10.7. Legal Holidays.



          Unless otherwise provided by Board Resolution, Officers’ Certificate or supplemental indenture
for a particular Series, a “Legal Holiday” is any day that is not a Business Day. If a payment date
is a Legal Holiday at a place of payment, payment may be made at that place on the next succeeding
day that is not a Legal Holiday, and no interest shall accrue for the intervening period.










     Section 10.8. No Recourse Against Others.



          A director, officer, employee or stockholder, as such, of the Company shall not have any
liability for any obligations of the Company under the Securities or the Indenture or for any claim
based on, in respect of or by reason of such obligations or their creation. Each Securityholder by
accepting a Security waives and releases all such liability. The waiver and release are part of the
consideration for the issue of the Securities.









     Section 10.9. Counterparts.



          This Indenture may be executed in any number of counterparts and by the parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an original and all of
which taken together shall constitute one and the same agreement.








     Section 10.10. Governing Laws.



          THIS INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK
EXCLUDING (TO THE GREATEST EXTENT POSSIBLE) ANY RULE OF LAW THAT WOULD CAUSE THE APPLICATION OF THE
LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF NEW YORK.








     Section 10.11. No Adverse Interpretation of Other Agreements.



          This Indenture may not be used to interpret another indenture, loan or debt agreement of the
Company or a Subsidiary. Any such indenture, loan or debt agreement may not be used to interpret
this Indenture.



 




     Section 10.12. Successors.



          All agreements of the Company in this Indenture and the Securities shall bind its successor.
All agreements of the Trustee in this Indenture shall bind its successor.




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     Section 10.13. Severability.



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








     Section 10.14. Table of Contents, Headings, Etc.



          The Table of Contents, Cross Reference Table, 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 10.15. Securities in a Foreign Currency or in ECU.



          Unless otherwise specified in a Board Resolution, a supplemental indenture hereto or an
Officers’ Certificate delivered pursuant to Section 2.2 of this Indenture with respect to a
particular Series of Securities, whenever for purposes of this Indenture any action may be taken by
the Holders of a specified percentage in aggregate principal amount of Securities of all Series or
all Series affected by a particular action at the time outstanding and, at such time, there are
outstanding Securities of any Series which are denominated in a coin or currency other than Dollars
(including ECUs), then the principal amount of Securities of such Series which shall be deemed to
be outstanding for the purpose of taking such action shall be that amount of Dollars that could be
obtained for such amount at the Market Exchange Rate at such time. For purposes of this Section
10.15, “Market Exchange Rate” shall mean the noon Dollar buying rate in New York City for cable
transfers of that currency as published by the Federal Reserve Bank of New York; provided, however,
in the case of ECUs, Market Exchange Rate shall mean the rate of exchange determined by the
Commission of the European Union (or any successor thereto) as published in the Official Journal of
the European Union (such publication or any successor publication, the “Journal”). If such Market
Exchange Rate is not available for any reason with respect to such currency, the Trustee shall use,
in its sole discretion and without liability on its part, such quotation of the Federal Reserve
Bank of New York or, in the case of ECUs, the rate of exchange as published in the Journal, as of
the most recent available date, or quotations or, in the case of ECUs, rates of exchange from one
or more major banks in The City of New York or in the country of issue of the currency in question
or, in the case of ECUs, in Luxembourg or such other quotations or, in the case of ECUs, rates of
exchange as the Trustee, upon consultation with the Company, shall deem appropriate. The provisions
of this paragraph shall apply in determining the equivalent principal amount in respect of
Securities of a Series denominated in currency other than Dollars in connection with any action
taken by Holders of Securities pursuant to the terms of this Indenture.




          All decisions and determinations of the Trustee regarding the Market Exchange Rate or any
alternative determination provided for in the preceding paragraph shall be in its sole discretion
and shall, in the absence of manifest error, be conclusive to the extent permitted by law for all
purposes and irrevocably binding upon the Company and all Holders.




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     Section 10.16. Judgment Currency.



          The Company agrees, to the fullest extent that it may effectively do so under applicable law,
that (a) if for the purpose of obtaining judgment in any court it is necessary to convert the sum
due in respect of the principal of or interest or other amount on the Securities of any Series (the
“Required Currency”) into a currency in which a judgment will be rendered (the “Judgment
Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking
procedures the Trustee could purchase in The City of New York the Required Currency with the
Judgment Currency on the day on which final unappealable judgment is entered, unless such day is
not a New York Banking Day, then, the rate of exchange used shall be the rate at which in
accordance with normal banking procedures the Trustee could purchase in The City of New York the
Required Currency with the Judgment Currency on the New York Banking Day preceding the day on which
final unappealable judgment is entered and (b) its obligations under this Indenture to make
payments in the Required Currency (i) shall not be discharged or satisfied by any tender, any
recovery pursuant to any judgment (whether or not entered in accordance with subsection (a)), in
any currency other than the Required Currency, except to the extent that such tender or recovery
shall result in the actual receipt, by the payee, of the full amount of the Required Currency
expressed to be payable in respect of such payments, (ii) shall be enforceable as an alternative or
additional cause of action for the purpose of recovering in the Required Currency the amount, if
any, by which such actual receipt shall fall short of the full amount of the Required Currency so
expressed to be payable, and (iii) shall not be affected by judgment being obtained for any other
sum due under this Indenture. For purposes of the foregoing, “New York Banking Day” means any day
except a Saturday, Sunday or a legal holiday in The City of New York on which banking institutions
are authorized or required by law, regulation or executive order to close.








ARTICLE XI.




SINKING FUNDS









     Section 11.1. Applicability of Article.



          The provisions of this Article shall be applicable to any sinking fund for the retirement of
the Securities of a Series, except as otherwise permitted or required by any form of Security of
such Series issued pursuant to this Indenture.




          The minimum amount of any sinking fund payment provided for by the terms of the Securities of
any Series is herein referred to as a “mandatory sinking fund payment” and any other amount
provided for by the terms of Securities of such Series is herein referred to as an “optional
sinking fund payment.” If provided for by the terms of Securities of any Series, the cash amount of
any sinking fund payment may be subject to reduction as provided in Section 11.2. Each sinking fund
payment shall be applied to the redemption of Securities of any Series as provided for by the terms
of the Securities of such Series.










     Section 11.2. Satisfaction of Sinking Fund Payments with Securities.



          The Company may, in satisfaction of all or any part of any sinking fund payment with respect
to the Securities of any Series to be made pursuant to the terms of such Securities




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(1) deliver outstanding Securities of such Series to which such sinking fund payment is applicable
(other than any of such Securities previously called for mandatory sinking fund redemption) and (2)
apply as credit Securities of such Series to which such sinking fund payment is applicable and
which have been redeemed either at the election of the Company pursuant to the terms of such Series
of Securities (except pursuant to any mandatory sinking fund) or through the application of
permitted optional sinking fund payments or other optional redemptions pursuant to the terms of
such Securities, provided that such Securities have not been previously so credited. Such
Securities shall be received by the Trustee, together with an Officers’ Certificate with respect
thereto, not later than 15 days prior to the date on which the Trustee begins the process of
selecting Securities for redemption, and shall be credited for such purpose by the Trustee at the
price specified in such Securities for redemption through operation of the sinking fund and the
amount of such sinking fund payment shall be reduced accordingly. If as a result of the delivery or
credit of Securities in lieu of cash payments pursuant to this Section 11.2, the principal amount
of Securities of such Series to be redeemed in order to exhaust the aforesaid cash payment shall be
less than $100,000, the Trustee need not call Securities of such Series for redemption, except upon
receipt of a Company Order that such action be taken, and such cash payment shall be held by the
Trustee or a Paying Agent and applied to the next succeeding sinking fund payment, provided,
however, that the Trustee or such Paying Agent shall from time to time upon receipt of a Company
Order pay over and deliver to the Company any cash payment so being held by the Trustee or such
Paying Agent upon delivery by the Company to the Trustee of Securities of that Series purchased by
the Company having an unpaid principal amount equal to the cash payment required to be released to
the Company.








     Section 11.3. Redemption of Securities for Sinking Fund.



          Not less than 45 days (unless otherwise indicated in the Board Resolution, supplemental
indenture hereto or Officers’ Certificate in respect of a particular Series of Securities) prior to
each sinking fund payment date for any Series of Securities, the Company will deliver to the
Trustee an Officers’ Certificate specifying the amount of the next ensuing mandatory sinking fund
payment for that Series pursuant to the terms of that Series, the portion thereof, if any, which is
to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by
delivering and crediting of Securities of that Series pursuant to Section 11.2, and the optional
amount, if any, to be added in cash to the next ensuing mandatory sinking fund payment, and the
Company shall thereupon be obligated to pay the amount therein specified. Not less than 30 days
(unless otherwise indicated in the Board Resolution, Officers’ Certificate or supplemental
indenture in respect of a particular Series of Securities) before each such sinking fund payment
date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in
the manner specified in Section 3.2 and cause notice of the redemption thereof to be given in the
name of and at the expense of the Company in the manner provided in Section 3.3. Such notice having
been duly given, the redemption of such Securities shall be made upon the terms and in the manner
stated in Sections 3.4, 3.5 and 3.6.




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




	 	 	 	 	 	 	 
	 	 	 Chartered Semiconductor Manufacturing Ltd	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ CHIA SONG HWEE	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Chia Song Hwee	 	 
	 

	 	 	 	Its: Senior Vice President, Chief Financial	 	 
	 

	 	 	 	Officer and Chief	 	 
	 

	 	 	 	Administrative Officer	 	 
	 
	 	 	 	 	 	 
	 	 	Wells Fargo Bank Minnesota, National

Association	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ ROBERT REYNOLDS	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Robert Reynolds	 	 
	 

	 	 	 	Its: Vice President