exv4w1






Exhibit 4.1




INDENTURE




Dated as of November 16, 2010



Among



MEDASSETS, INC.,



THE GUARANTORS NAMED ON THE SIGNATURE PAGES HERETO



and



WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Trustee



8% SENIOR NOTES DUE 2018



 









 





CROSS-REFERENCE TABLE*




	 	 	 	 	 	 	 
	 	 	 	 	 	Indenture	 
	Trust Indenture Act Section	 	 	Section	 
	310

	(a)(1)
	 	 	7.10	 
	 

	(a)(2)
	 	 	7.10	 
	 

	(a)(3)
	 	 	N.A.	 
	 

	(a)(4)
	 	 	N.A.	 
	 

	(a)(5)
	 	 	7.10	 
	 

	(b)
	 	 	7.10	 
	 

	(c)
	 	 	N.A.	 
	311

	(a)
	 	 	7.11	 
	 

	(b)
	 	 	7.11	 
	 

	(c)
	 	 	N.A.	 
	312

	(a)
	 	 	2.05	 
	 

	(b)
	 	 	12.03	 
	 

	(c)
	 	 	12.03	 
	313

	(a)
	 	 	7.06	 
	 

	(b)(1)
	 	 	N.A.	 
	 

	(b)(2)
	 	 	7.06;7.07	 
	 

	(c)
	 	 	7.06;12.02	 
	 

	(d)
	 	 	7.06	 
	314

	(a)
	 	 	12.05	 
	 

	(b)
	 	 	N.A.	 
	 

	(c)(1)
	 	 	12.04	 
	 

	(c)(2)
	 	 	12.04	 
	 

	(c)(3)
	 	 	N.A.	 
	 

	(d)
	 	 	N.A.	 
	 

	(e)
	 	 	12.05	 
	 

	(f)
	 	 	N.A.	 
	315

	(a)
	 	 	7.01	 
	 

	(b)
	 	 	7.05	 
	 

	(c)
	 	 	7.01	 
	 

	(d)
	 	 	7.01	 
	 

	(e)
	 	 	N.A.	 
	316

	(a)(last sentence)
	 	 	2.11	 
	 

	(a)(1)(A)
	 	 	6.05	 
	 

	(a)(1)(B)
	 	 	6.04	 
	 

	(a)(2)
	 	 	N.A.	 
	 

	(b)
	 	 	6.07	 
	 

	(c)
	 	 	1.05, 2.14	 
	317

	(a)(1)
	 	 	6.08	 
	 

	(a)(2)
	 	 	6.12	 
	 

	(b)
	 	 	2.04	 
	318

	(a)
	 	 	12.01	 
	 

	(b)
	 	 	N.A.	 
	 

	(c)
	 	 	12.01	 








 




			
	 	 	N.A. means not applicable.
	 
	*	 	This Cross-Reference Table is not part of this Indenture.




 









 










TABLE OF CONTENTS




	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 1	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	DEFINITIONS AND INCORPORATION BY REFERENCE	 	 	 	 
	 
	 	 	 	 	 	 
	Section 1.01

	 	Definitions
	 	 	1	 
	Section 1.02

	 	Other Definitions
	 	 	25	 
	Section 1.03

	 	Incorporation by Reference of Trust Indenture Act
	 	 	26	 
	Section 1.04

	 	Rules of Construction
	 	 	26	 
	Section 1.05

	 	Acts of Holders
	 	 	27	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 2	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	THE NOTES	 	 	 	 
	 
	 	 	 	 	 	 
	Section 2.01

	 	Form and Dating; Terms
	 	 	28	 
	Section 2.02

	 	Execution and Authentication
	 	 	33	 
	Section 2.03

	 	Registrar and Paying Agent
	 	 	34	 
	Section 2.04

	 	Paying Agent to Hold Money in Trust
	 	 	35	 
	Section 2.05

	 	Holder Lists
	 	 	35	 
	Section 2.06

	 	Transfer and Exchange
	 	 	35	 
	Section 2.07

	 	Form of Certificate to be Delivered in Connection with Transfers to Institutional Accredited
Investors
	 	 	39	 
	Section 2.08

	 	Form of Certificate to be Delivered in Connection with Transfers Pursuant to Regulation S
	 	 	40	 
	Section 2.09

	 	Replacement Notes
	 	 	41	 
	Section 2.10

	 	Outstanding Notes
	 	 	41	 
	Section 2.11

	 	Treasury Notes
	 	 	42	 
	Section 2.12

	 	Temporary Notes
	 	 	42	 
	Section 2.13

	 	Cancellation
	 	 	42	 
	Section 2.14

	 	Defaulted Interest
	 	 	42	 
	Section 2.15

	 	CUSIP Numbers
	 	 	43	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 3	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	REDEMPTION	 	 	 	 
	 
	 	 	 	 	 	 
	Section 3.01

	 	Notices to Trustee
	 	 	43	 
	Section 3.02

	 	Selection of Notes to Be Redeemed or Purchased
	 	 	43	 
	Section 3.03

	 	Notice of Redemption
	 	 	43	 
	Section 3.04

	 	Effect of Notice of Redemption
	 	 	44	 
	Section 3.05

	 	Deposit of Redemption or Purchase Price
	 	 	44	 
	Section 3.06

	 	Notes Redeemed or Purchased in Part
	 	 	45	 
	Section 3.07

	 	Optional Redemption
	 	 	45	 
	Section 3.08

	 	Mandatory Redemption
	 	 	46	 
	Section 3.09

	 	Offers to Repurchase by Application of Excess Proceeds
	 	 	46	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 4	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	COVENANTS	 	 	 	 
	 
	 	 	 	 	 	 
	Section 4.01

	 	Payment of Notes
	 	 	47	 






-i- 









 






	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	 	 	 	 	 	 
	Section 4.02

	 	Maintenance of Office or Agency
	 	 	47	 
	Section 4.03

	 	Reports and Other Information
	 	 	47	 
	Section 4.04

	 	Compliance Certificate
	 	 	48	 
	Section 4.05

	 	Taxes
	 	 	49	 
	Section 4.06

	 	Stay, Extension and Usury Laws
	 	 	49	 
	Section 4.07

	 	Limitation on Restricted Payments
	 	 	49	 
	Section 4.08

	 	Limitation on Restrictions on Distributions from Restricted Subsidiaries
	 	 	53	 
	Section 4.09

	 	Limitation on Indebtedness
	 	 	55	 
	Section 4.10

	 	Sales of Assets and Subsidiary Stock
	 	 	58	 
	Section 4.11

	 	Transactions with Affiliates
	 	 	61	 
	Section 4.12

	 	Limitation on Liens
	 	 	63	 
	Section 4.13

	 	Corporate Existence
	 	 	63	 
	Section 4.14

	 	Offer to Repurchase Upon Change of Control
	 	 	63	 
	Section 4.15

	 	Future Subsidiary Guarantors
	 	 	64	 
	Section 4.16

	 	[Reserved]
	 	 	65	 
	Section 4.17

	 	Suspension of Covenants
	 	 	65	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 5	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	SUCCESSORS	 	 	 	 
	 
	 	 	 	 	 	 
	Section 5.01

	 	Merger and Consolidation
	 	 	66	 
	Section 5.02

	 	Successor Entity Substituted
	 	 	67	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 6	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	DEFAULTS AND REMEDIES	 	 	 	 
	 
	 	 	 	 	 	 
	Section 6.01

	 	Events of Default
	 	 	68	 
	Section 6.02

	 	Acceleration
	 	 	70	 
	Section 6.03

	 	Other Remedies
	 	 	70	 
	Section 6.04

	 	Waiver of Past Defaults
	 	 	71	 
	Section 6.05

	 	Control by Majority
	 	 	71	 
	Section 6.06

	 	Limitation on Suits
	 	 	71	 
	Section 6.07

	 	Rights of Holders of Notes to Receive Payment
	 	 	71	 
	Section 6.08

	 	Collection Suit by Trustee
	 	 	72	 
	Section 6.09

	 	Restoration of Rights and Remedies
	 	 	72	 
	Section 6.10

	 	Rights and Remedies Cumulative
	 	 	72	 
	Section 6.11

	 	Delay or Omission Not Waiver
	 	 	72	 
	Section 6.12

	 	Trustee May File Proofs of Claim
	 	 	72	 
	Section 6.13

	 	Priorities
	 	 	73	 
	Section 6.14

	 	Undertaking for Costs
	 	 	73	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 7	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	TRUSTEE	 	 	 	 
	 
	 	 	 	 	 	 
	Section 7.01

	 	Duties of Trustee
	 	 	73	 
	Section 7.02

	 	Rights of Trustee
	 	 	74	 
	Section 7.03

	 	Individual Rights of Trustee
	 	 	75	 
	Section 7.04

	 	Trustee’s Disclaimer
	 	 	75	 
	Section 7.05

	 	Notice of Defaults
	 	 	76	 
	Section 7.06

	 	Reports by Trustee to Holders of the Notes
	 	 	76	 
	Section 7.07

	 	Compensation and Indemnity
	 	 	76	 
	Section 7.08

	 	Replacement of Trustee
	 	 	77	 






-ii- 









 






	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	 	 	 	 	 	 
	Section 7.09

	 	Successor Trustee by Merger, Etc.
	 	 	77	 
	Section 7.10

	 	Eligibility; Disqualification
	 	 	77	 
	Section 7.11

	 	Preferential Collection of Claims Against the Company
	 	 	78	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 8	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	LEGAL DEFEASANCE AND COVENANT DEFEASANCE	 	 	 	 
	 
	 	 	 	 	 	 
	Section 8.01

	 	Option to Effect Legal Defeasance or Covenant Defeasance
	 	 	78	 
	Section 8.02

	 	Legal Defeasance and Discharge
	 	 	78	 
	Section 8.03

	 	Covenant Defeasance
	 	 	79	 
	Section 8.04

	 	Conditions to Legal or Covenant Defeasance
	 	 	79	 
	Section 8.05

	 	Deposited Money and U.S. Government Obligations to Be Held in
Trust; Other Miscellaneous Provisions
	 	 	80	 
	Section 8.06

	 	Repayment to the Company
	 	 	80	 
	Section 8.07

	 	Reinstatement
	 	 	80	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 9	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	AMENDMENT, SUPPLEMENT AND WAIVER	 	 	 	 
	 
	 	 	 	 	 	 
	Section 9.01

	 	Without Consent of Holders of Notes
	 	 	81	 
	Section 9.02

	 	With Consent of Holders of Notes
	 	 	82	 
	Section 9.03

	 	Compliance with Trust Indenture Act
	 	 	83	 
	Section 9.04

	 	Revocation and Effect of Consents
	 	 	83	 
	Section 9.05

	 	Notation on or Exchange of Notes
	 	 	83	 
	Section 9.06

	 	Trustee to Sign Amendments, Etc.
	 	 	83	 
	Section 9.07

	 	Payment for Consent
	 	 	84	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 10	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	SUBSIDIARY GUARANTEES	 	 	 	 
	 
	 	 	 	 	 	 
	Section 10.01

	 	Subsidiary Guarantee
	 	 	84	 
	Section 10.02

	 	Limitation on Subsidiary Guarantor Liability
	 	 	85	 
	Section 10.03

	 	Execution and Delivery
	 	 	85	 
	Section 10.04

	 	Subrogation
	 	 	86	 
	Section 10.05

	 	Benefits Acknowledged
	 	 	86	 
	Section 10.06

	 	Release of Subsidiary Guarantees
	 	 	86	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 11	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	SATISFACTION AND DISCHARGE	 	 	 	 
	 
	 	 	 	 	 	 
	Section 11.01

	 	Satisfaction and Discharge
	 	 	87	 
	Section 11.02

	 	Application of Trust Money
	 	 	87	 
	 
	 	 	 	 	 	 
	 

	 	ARTICLE 12	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	MISCELLANEOUS	 	 	 	 
	 
	 	 	 	 	 	 
	Section 12.01

	 	Trust Indenture Act Controls
	 	 	88	 
	Section 12.02

	 	Notices
	 	 	88	 
	Section 12.03

	 	Communication by Holders of Notes with Other Holders of Notes
	 	 	89	 






-iii- 









 






	 	 	 	 	 	 	 
	 	 	 	 	Page
	 
	 	 	 	 	 	 
	Section 12.04

	 	Certificate and Opinion as to Conditions Precedent
	 	 	89	 
	Section 12.05

	 	Statements Required in Certificate or Opinion
	 	 	89	 
	Section 12.06

	 	Rules by Trustee and Agents
	 	 	90	 
	Section 12.07

	 	No Personal Liability of Directors, Officers, Employees and Stockholders
	 	 	90	 
	Section 12.08

	 	Governing Law
	 	 	90	 
	Section 12.09

	 	Waiver of Jury Trial
	 	 	90	 
	Section 12.10

	 	Force Majeure
	 	 	90	 
	Section 12.11

	 	No Adverse Interpretation of Other Agreements
	 	 	90	 
	Section 12.12

	 	Successors
	 	 	90	 
	Section 12.13

	 	Severability
	 	 	91	 
	Section 12.14

	 	Counterpart Originals
	 	 	91	 
	Section 12.15

	 	Table of Contents, Headings, etc.
	 	 	91	 
	Section 12.16

	 	Qualification of Indenture
	 	 	91	 
	 
	 	 	 	 	 	 
	Exhibit A

	 	Form of Initial Note	 	 	 	 
	Exhibit B

	 	Form of Exchange Note	 	 	 	 
	Exhibit C

	 	Form of Transferee Letter of Representation	 	 	 	 
	Exhibit D

	 	Form of Supplemental Indenture to Be Delivered by
Subsequent Subsidiary Guarantors	 	 	 	 







-iv- 











 





     INDENTURE, dated as of November 16, 2010, among MedAssets, Inc., a Delaware corporation
(the “Company”), the Subsidiary Guarantors (as defined herein) listed on the signature
pages hereto and Wells Fargo Bank, National Association, as Trustee.



WITNESSETH




     WHEREAS, the aggregate principal amount of the Notes that may be authenticated and delivered
under this Indenture is unlimited;



     WHEREAS, the Company has duly authorized the issuance of $325,000,000 aggregate principal
amount of 8% Senior Notes due 2018 (the “Initial Notes”); and



     WHEREAS, the Company and each of the Subsidiary Guarantors have duly authorized the execution
and delivery of this Indenture.



     NOW, THEREFORE, the Company, the Subsidiary Guarantors and the Trustee agree as follows for
the benefit of each other and for the equal and ratable benefit of the Holders of the Notes.



ARTICLE 1




DEFINITIONS AND INCORPORATION BY REFERENCE



     Section 1.01 Definitions.



     “Acquired Indebtedness” means, with respect to any specified Person,




     (a) Indebtedness of any Person or any of its Subsidiaries existing at the time such
Person becomes a Restricted Subsidiary or merges with or into the Company or a Restricted
Subsidiary; or




     (b) assumed in connection with the acquisition of property or assets from such Person,
in each case whether or not Incurred by such Person in connection with, or in anticipation
or contemplation of, such Person becoming a Restricted Subsidiary or such merger or
acquisition, and Indebtedness secured by a Lien encumbering any property or asset acquired
by such specified Person.



     Acquired Indebtedness shall be deemed to have been Incurred, with respect to clause (a) of the
preceding sentence, on the date such Person becomes a Restricted Subsidiary or merges with or into
the Company or a Restricted Subsidiary and, with respect to clause (b) of the preceding sentence,
on the date of consummation of such acquisition of property or assets. The term “Acquired
Indebtedness” does not include Indebtedness of a Person that is redeemed, defeased, retired or
otherwise repaid at the time of or immediately upon consummation of the transactions by which such
Person becomes a Restricted Subsidiary or merges with or into the Company or a Restricted
Subsidiary or such property or assets are acquired, which Indebtedness of such Person will not be
deemed to be Indebtedness of the Company or any Restricted Subsidiary.



     “Acquisition” means the acquisition by the Company of Broadlane Intermediate Holdings,
Inc. contemplated by the Purchase Agreement.



     “Additional Assets” means:




     (1) any property, plant, equipment or other asset (excluding any asset classified as a
current asset under GAAP), including improvements thereto through capital expenditures or
otherwise, to be used, or that is useful, in a Similar Business;




     (2) all or substantially all of the assets of a Similar Business



 









 






     (3) the Capital Stock of a Person that becomes a Restricted Subsidiary as a result of
the acquisition of such Capital Stock by the Company or a Restricted Subsidiary; or




     (4) Capital Stock in any Person that at such time is a Restricted Subsidiary;


provided, however, that, in the case of clauses (3) and (4), such Restricted Subsidiary is
primarily engaged in a Similar Business.




     “Additional Interest” means the additional interest payable as a consequence of the
failure to effectuate in a timely manner the Exchange Offer and/or shelf registration procedures
set forth in the Registration Rights Agreement.



     “Additional Notes” means additional Notes (other than the Initial Notes and other than
Exchange Notes for such Initial Notes) issued from time to time under this Indenture in accordance
with Sections 2.01 and 4.09.



     “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 “controlling,” “controlled by” and “under common control with”) when
used with respect to any Person means possession, directly or indirectly, of the power to direct
the management and policies of such Person, directly or indirectly, whether through the ownership
of voting securities, by contract or otherwise; and the terms “controlling” and
“controlled” have meanings correlative to the foregoing.



     “Agent” means any Registrar or Paying Agent.



     “Applicable Premium” means, with respect to a Note on any date of redemption, the greater of:




     (1) 1.0% of the principal amount of such Note; and




     (2) the excess, if any, of (a) the present value as of such date of redemption of (i)
the redemption price of such Note on November 15, 2014, (each such redemption price being
described under Section 3.07) plus (ii) all required interest payments due on such Note
through November 15, 2014 (excluding accrued but unpaid interest to the date of redemption),
computed using a discount rate equal to the Treasury Rate as of such date of redemption plus
50 basis points, over (b) the then-outstanding principal of such Note.



     “Applicable Procedures” means, with respect to any transfer or exchange of or for
beneficial interests in any Global Note, the rules and procedures of the Depositary, Euroclear and
Clearstream that apply to such transfer or exchange.



     “Asset Sale” means any direct or indirect sale, lease (other than an operating lease
entered into in the ordinary course of business), transfer, issuance or other disposition, or a
series of related sales, leases, transfers, issuances or dispositions that are part of a common
plan, of shares of Capital Stock of a Subsidiary of the Company (other than directors’ qualifying
shares and shares issued to foreign nationals to the extent required by applicable law), property
or other assets (each referred to for the purposes of this definition as a “disposition”)
by the Company or any of its Restricted Subsidiaries, including any disposition by means of a
merger, consolidation or similar transaction.



     Notwithstanding the preceding, the following items shall not be deemed to be Asset Sales:




     (1) a disposition of Capital Stock, property or other assets by a Restricted Subsidiary
to the Company or by the Company or a Restricted Subsidiary to a Restricted Subsidiary;




     (2) the disposition of Cash Equivalents in the ordinary course of business;



-2-









 






     (3) a disposition of equipment, inventory, receivables or other tangible or intangible
assets or property in the ordinary course of business;




     (4) a disposition of obsolete, damaged or worn-out property or equipment, or property
or equipment that is no longer useful in the conduct of the business of the Company and its
Restricted Subsidiaries;




     (5) a disposition pursuant to a Sale/Leaseback Transaction;




     (6) the disposition of all or substantially all of the assets of the Company in a
manner permitted pursuant to Article 5 or any disposition that constitutes a Change of
Control pursuant to this Indenture;




     (7) an issuance of Capital Stock by a Restricted Subsidiary to the Company or to a
Wholly Owned Subsidiary;




     (8) for purposes of Section 4.10 only, the making of a Permitted Investment or a
disposition subject to Section 4.07;




     (9) dispositions of property or assets in a single transaction or series of related
transactions with an aggregate fair market value in any fiscal year of less than $10.0
million;




     (10) the creation or Incurrence of a Permitted Lien or any other Lien created or
Incurred in compliance with Section 4.12, and dispositions in connection therewith;




     (11) dispositions of receivables in connection with the compromise, settlement or
collection thereof in the ordinary course of business or in bankruptcy or similar
proceedings and exclusive of factoring or similar arrangements;




     (12) the issuance by a Restricted Subsidiary of Preferred Stock or Disqualified Stock
that is permitted by Section 4.09;




     (13) a surrender or waiver of contract rights or a settlement, release or surrender of
contract, tort or other claims in the ordinary course of business;




     (14) foreclosure on assets or property; and




     (15) any sale or other disposition of Capital Stock in, or Indebtedness or other
securities of, an Unrestricted Subsidiary.



     “Attributable Indebtedness” in respect of a Sale/Leaseback Transaction means, as at
the time of determination, the present value (discounted at the interest rate implicit in the
transaction) of the total obligations of the lessee for rental payments during the remaining term
of the lease included in such Sale/Leaseback Transaction (including any period for which such lease
has been extended), determined in accordance with GAAP; provided, however, that if such
Sale/Leaseback Transaction results in a Capitalized Lease Obligation, the amount of Indebtedness
represented thereby will be determined in accordance with the definition of “Capitalized Lease
Obligations.”



     “Average Life” means, as of the date of determination, with respect to any
Indebtedness or Preferred Stock, the quotient obtained by dividing (1) the sum of the products of
the numbers of years from the date of determination to the dates of each successive scheduled
principal payment of such Indebtedness or redemption or similar payment with respect to such
Preferred Stock multiplied by the amount of such payment by (2) the sum of all such payments.



     “Bankruptcy Custodian” means any receiver, trustee, assignee, liquidator, custodian or
similar official under any Bankruptcy Law.



     “Bankruptcy Law” means Title 11, U.S. Code or any similar federal or state law for the
relief of debtors.



-3-









 





     “beneficial ownership” has the meaning assigned to such term in Rule 13d-3 and Rule
13d-5 under the Exchange Act, except that in calculating the beneficial ownership of any particular
“person” (as such term is used in Section 13(d)(3) of the Exchange Act), such “person” shall be
deemed to have beneficial ownership of all securities that such “person” has the right to acquire,
whether such right is currently exercisable or is exercisable only after the passage of time. The
term “beneficial owner” shall have a corresponding meaning.



     “Board of Directors” means:




     (1) with respect to a corporation, the board of directors of the corporation or a duly
authorized committee of the board of directors;




     (2) with respect to a partnership, the board of directors of the general partner of the
partnership;




     (3) with respect to a limited liability company, the managing member or members or any
controlling committee or board of managers of such company or the Board of Directors of the
sole member or the managing member thereof; and




     (4) with respect to any other Person, the board or committee of such Person serving a
similar function.



     “Business Day” means each day that is not a Saturday, Sunday or other day on which
banking institutions in New York, New York or the city in which the corporate trust office of the
Trustee is located (currently Atlanta, Georgia) are authorized or required by law to close.



     “Cape Girardeau Lease” means the Company’s lease obligations related to its Cape
Girardeau, Missouri facility.



     “Capital Stock” of any Person means any and all shares, interests, rights to purchase,
participations (including rights to receive a share of profits or losses), equity appreciation
rights or other equivalents (however designated) of or in equity of such Person, including any
Preferred Stock or any limited liability company, membership or partnership interests (whether
general or limited), together with any and all warrants, options or other rights to purchase or
acquire any of the foregoing, but excluding any debt securities convertible into or exchangeable
for any of the foregoing.



     “Capitalized Lease Obligations” means an obligation that is required to be classified
and accounted for as a capitalized lease for financial reporting purposes in accordance with GAAP,
and the amount of Indebtedness represented by such obligation will be the capitalized amount of
such obligation at the time any determination thereof is to be made as determined in accordance
with GAAP, and the Stated Maturity thereof will be the date of the last payment of rent or any
other amount due under such lease prior to the first date such lease may be terminated without
penalty, in each case, other than any obligation in respect of the Cape Girardeau Lease.



     “Cash Equivalents” means:




     (1) U.S. dollars, or in the case of any Foreign Subsidiary, such local currencies held
by it from time to time in the ordinary course of business;




     (2) securities issued or directly and fully guaranteed or insured by the United States
Government or any agency or instrumentality of the United States (provided that the full
faith and credit of the United States is pledged in support thereof), having maturities of
not more than one year from the date of acquisition;




     (3) marketable general obligations issued by any state of the United States of America
or any political subdivision of any such state or any public instrumentality thereof
maturing within one year from



-4-









 







the date of acquisition and, at the time of acquisition, having a credit rating of “A”
or better from either Standard & Poor’s Ratings Group, Inc. or Moody’s Investors Service,
Inc.;




     (4) certificates of deposit, demand deposits, time deposits, eurodollar time deposits,
overnight bank deposits or bankers’ acceptances having maturities of not more than one year
from the date of acquisition thereof issued by any commercial bank the long-term debt of
which is rated at the time of acquisition thereof at least “A” or the equivalent thereof by
Standard & Poor’s Ratings Group, Inc., or “A” or the equivalent thereof by Moody’s Investors
Service, Inc., and having combined capital and surplus in excess of $500.0 million;




     (5) repurchase obligations with a term of not more than seven days for underlying
securities of the types described in clauses (2), (3) and (4) entered into with any bank
meeting the qualifications specified in clause (4) above;




     (6) commercial paper rated at the time of acquisition thereof at least “A-2” or the
equivalent thereof by Standard & Poor’s Ratings Group, Inc. or “P-2” or the equivalent
thereof by Moody’s Investors Service, Inc., or carrying an equivalent rating by a nationally
recognized Rating Agency, if both of the two named Rating Agencies cease publishing ratings
of investments, and in any case maturing within one year after the date of acquisition
thereof; and




     (7) interests in any investment company or money market fund which invests 95% or more
of its assets in instruments of the type specified in clauses (1) through (6) above.



     “Change of Control” means:




     (1) the Company becomes aware (by way of a report or another filing pursuant to Section
13(d) of the Exchange Act, proxy, vote, written notice or otherwise) of the acquisition by
any “person” or “group” of related persons (as such terms are used in Sections 13(d) and
14(d) of the Exchange Act) of the beneficial ownership (as defined in Rules 13d-3 and 13d-5
under the Exchange Act, except that such person or group shall be deemed to have “beneficial
ownership” of all shares that any such person or group has the right to acquire, whether
such right is exercisable immediately or only after the passage of time), directly or
indirectly, of more than 50% of the total voting power of the Voting Stock of the Company
(or its successor by merger, consolidation or purchase of all or substantially all of its
assets); or




     (2) the sale, assignment, lease, conveyance, transfer or other disposition (other than
by way of merger or consolidation), in one or a series of related transactions, of all or
substantially all of the assets of the Company and its Subsidiaries taken as a whole to any
“person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act); or




     (3) the adoption by the stockholders of the Company of a plan or proposal for the
liquidation or dissolution of the Company.



     “Code” means the Internal Revenue Code of 1986, as amended.



     “Commodity Agreement” means any commodity futures contract, commodity swap, commodity
option or other similar agreement or arrangement entered into by the Company or any Restricted
Subsidiary designed or intended to protect the Company or any of its Restricted Subsidiaries
against fluctuations in the price of commodities actually used in the ordinary course of business
of the Company and its Restricted Subsidiaries.



     “Common Stock” means with respect to any Person, any and all shares of, interest or
other participations in, and other equivalents (however designated and whether voting or nonvoting)
of such Person’s common stock whether or not outstanding on the Issue Date, and includes, without
limitation, all series and classes of such common stock.



-5-









 





     “Company Order” means a written request or order signed on behalf of the Company by an
Officer of the Company, who must be the principal executive officer, the principal financial
officer, the treasurer or the principal accounting officer of the Company, and delivered to the
Trustee.



     “Consolidated Coverage Ratio” means as of any date of determination, with respect to
any Person, the ratio of (x) the aggregate amount of Consolidated EBITDA of such Person for the
period of the most recent four consecutive fiscal quarters ending prior to the date of such
determination for which financial statements prepared on a consolidated basis in accordance with
GAAP are available to (y) Consolidated Interest Expense for such four fiscal quarters, provided,
however, that:




     (1) if the Company or any Restricted Subsidiary:




     (a) has Incurred any Indebtedness since the beginning of such period that
remains outstanding on such date of determination or if the transaction giving rise
to the need to calculate the Consolidated Coverage Ratio includes an Incurrence of
Indebtedness, Consolidated EBITDA and Consolidated Interest Expense for such period
will be calculated after giving effect on a pro forma basis to such Indebtedness as
if such Indebtedness had been Incurred on the first day of such period (except that
in making such computation, the amount of Indebtedness under any revolving Credit
Facility outstanding on the date of such calculation will be deemed to be (i) the
average daily balance of such Indebtedness during such four fiscal quarters or such
shorter period for which such facility was outstanding or (ii) if such facility was
created after the end of such four fiscal quarters, the average daily balance of
such Indebtedness during the period from the date of creation of such facility to
the date of such calculation) and the discharge of any other Indebtedness repaid,
repurchased, defeased or otherwise discharged with the proceeds of such new
Indebtedness as if such discharge had occurred on the first day of such period; or




     (b) has repaid, repurchased, redeemed, retired, defeased or otherwise
discharged any Indebtedness since the beginning of the period that is no longer
outstanding on such date of determination or if the transaction giving rise to the
need to calculate the Consolidated Coverage Ratio includes a discharge of
Indebtedness (in each case, other than Indebtedness Incurred under any revolving
Credit Facility unless such Indebtedness has been permanently repaid and the related
commitment terminated), Consolidated EBITDA and Consolidated Interest Expense for
such period will be calculated after giving effect on a pro forma basis to such
discharge of such Indebtedness, including with the proceeds of such new
Indebtedness, as if such discharge had occurred on the first day of such period;




     (2) if since the beginning of such period the Company or any Restricted Subsidiary will
have made any Asset Sale or disposed of or discontinued (as defined under GAAP) any company,
division, operating unit, segment, business, group of related assets or properties or line
of business or if the transaction giving rise to the need to calculate the Consolidated
Coverage Ratio includes such a transaction:




     (a) the Consolidated EBITDA for such period will be reduced by an amount equal
to the Consolidated EBITDA (if positive) directly attributable to the assets or
properties that are the subject of such disposition or discontinuation for such
period or increased by an amount equal to the Consolidated EBITDA (if negative)
directly attributable thereto for such period; and




     (b) Consolidated Interest Expense for such period will be reduced by an amount
equal to the Consolidated Interest Expense directly attributable to any Indebtedness
of the Company or any Restricted Subsidiary repaid, repurchased, redeemed, retired,
defeased or otherwise discharged with respect to the Company and its continuing
Restricted Subsidiaries in connection with such transaction for such period (or, if
the Capital Stock of any Restricted Subsidiary is sold, the Consolidated Interest
Expense for such period directly attributable to the Indebtedness of such Restricted
Subsidiary to the extent the Company and its continuing Restricted Subsidiaries are
no longer liable for such Indebtedness after such sale);



-6-









 






     (3) if since the beginning of such period the Company or any Restricted Subsidiary (by
merger or otherwise) will have made an Investment in any Restricted Subsidiary (or any
Person that becomes a Restricted Subsidiary or is merged or consolidated with or into the
Company or a Restricted Subsidiary) or an acquisition of assets or property, including any
acquisition of assets or property occurring in connection with a transaction causing a
calculation to be made hereunder, which constitutes all or substantially all of a company,
division, operating unit, segment, business, group of related assets or properties or line
of business, Consolidated EBITDA and Consolidated Interest Expense for such period will be
calculated after giving pro forma effect thereto (including the Incurrence of any
Indebtedness) as if such Investment or acquisition occurred on the first day of such period;
and




     (4) if since the beginning of such period any Person (that subsequently became a
Restricted Subsidiary or was merged or consolidated with or into the Company or any
Restricted Subsidiary since the beginning of such period) will have Incurred any
Indebtedness or discharged any Indebtedness, made any disposition or any Investment or
acquisition of assets or property that would have required an adjustment pursuant to clause
(1), (2) or (3) above if made by the Company or a Restricted Subsidiary during such period,
Consolidated EBITDA and Consolidated Interest Expense for such period will be calculated
after giving pro forma effect thereto as if such transaction occurred on the first day of
such period.



     For purposes of this definition, whenever pro forma effect is to be given to any calculation
under this definition, the pro forma calculations will be determined in good faith by a responsible
financial or accounting Officer of the Company to reflect adjustments (i) required or permitted
under Regulation S-X and (ii) at the option of the Company, to reflect expected improvements to
Consolidated EBITDA resulting from cost savings and synergies in connection with any acquisition or
disposition based on specifically identified actions that have been taken or are expected to be
taken within 12 months of the date of the relevant acquisition or disposition so long as such
improvement is expected to be reflected in the Company’s Consolidated EBITDA within four fiscal
quarters following the date such actions are taken; provided, that in connection with the
Acquisition, to the extent not otherwise included in determining Consolidated EBITDA under the pro
forma provisions set forth above, all adjustments as are consistent with those set forth in the
calculation of “Pro Forma Adjusted EBITDA” for the twelve months ended September 30, 2010 in
“Summary historical and pro forma financial data” in the Offering Memorandum shall be included. If
any Indebtedness bears a floating rate of interest and is being given pro forma effect, the
interest expense on such Indebtedness will be calculated as if the rate in effect on the date of
determination had been the applicable rate for the entire period (taking into account any Interest
Rate Agreement applicable to such Indebtedness if such Interest Rate Agreement has a remaining term
in excess of 12 months). If any Indebtedness that is being given pro forma effect bears an
interest rate at the option of the Company, the interest rate shall be calculated by applying such
optional rate chosen by the Company.



     “Consolidated EBITDA” means, with respect to any Person for any period, the
Consolidated Net Income of such Person for such period:




     (1) increased (without duplication) by the following items to the extent deducted in
calculating such Consolidated Net Income:




     (a) Consolidated Interest Expense; plus




     (b) Consolidated Income Taxes; plus




     (c) consolidated depreciation expense; plus




     (d) consolidated amortization expense or impairment charges; plus




     (e) other non-cash charges reducing Consolidated Net Income, including any
write-offs or write-downs (excluding any such non-cash charge to the extent it
represents an accrual of or reserve for cash charges in any future period or
amortization of a prepaid cash expense that was paid in a prior period not included
in the calculation); plus



-7-









 






     (f) the amount of any Restructuring Charges and expenses or charges related to
any proposed or consummated Equity Offering, Investment, acquisition, disposition,
Incurrence of Indebtedness or recapitalization (including the Transactions);
provided that any amounts added to Consolidated Net Income for Restructuring Charges
pursuant to this clause will not exceed, in any four-fiscal-quarter period, the
greater of (i) $20.0 million and (ii) 10% of Consolidated EBITDA of such Person as
otherwise determined in accordance with this definition for such four-fiscal-quarter
period with such pro forma adjustments as are consistent with the definition of
Consolidated Coverage Ratio;




     (2) decreased (without duplication) by noncash items increasing Consolidated Net Income
of such Person for such period (excluding any items which represent the reversal of any
accrual of, or reserve for, anticipated cash charges that reduced Consolidated EBITDA in any
prior period), and




     (3) increased or decreased by (without duplication) the following items reflected in
Consolidated Net Income:




     (a) any net gain or loss resulting in such period from Hedging Obligations and
the application of Statement of Financial Accounting Standards No. 133;




     (b) any net gain or loss resulting in such period from currency translation
gains or losses related to currency remeasurements of Indebtedness (including any
net loss or gain resulting from Hedging Obligations for currency exchange risk); and




     (c) effects of adjustments (including the effects of such adjustments pushed
down to the Company and its Restricted Subsidiaries) in any line item in such
Person’s consolidated financial statements pursuant to GAAP resulting from the
application of purchase accounting in relation to the Acquisition and any completed
acquisition.



     Notwithstanding the foregoing, clauses (1)(b) through (e) relating to amounts of a
Non-Guarantor Subsidiary of a Person will be added to Consolidated Net Income to compute
Consolidated EBITDA of such Person only to the extent (and in the same proportion) that the net
income (loss) of such Non-Guarantor Subsidiary was included in calculating the Consolidated Net
Income of such Person and, to the extent the amounts set forth in clauses (1)(b) through (e) are in
excess of those necessary to offset a net loss of such Non-Guarantor Subsidiary or if such
Non-Guarantor Subsidiary has net income for such period included in Consolidated Net Income, only
if a corresponding amount would be permitted at the date of determination to be dividended to the
Company by such Non-Guarantor Subsidiary without prior approval (that has not been obtained),
pursuant to the terms of its charter and all agreements, instruments, judgments, decrees, orders,
statutes, rules and governmental regulations applicable to that Non-Guarantor Subsidiary or its
stockholders.



     “Consolidated Income Taxes” means, with respect to any Person for any period, taxes
imposed upon such Person or other payments required to be made by such Person by any governmental
authority which taxes or other payments are calculated by reference to the income or profits or
capital of such Person or such Person and its Restricted Subsidiaries (to the extent such income or
profits were included in computing Consolidated Net Income for such period), including, without
limitation, state, franchise and similar taxes and foreign withholding taxes regardless of whether
such taxes or payments are required to be remitted to any governmental authority.



     “Consolidated Interest Expense” means, for any period, the total interest expense of
the Company and its consolidated Restricted Subsidiaries, whether paid or accrued, plus, to the
extent not included in such interest expense (without duplication):




     (1) interest expense attributable to Capitalized Lease Obligations and the interest
portion of rent expense associated with Attributable Indebtedness in respect of the relevant
lease giving rise thereto, determined as if such lease were a capitalized lease in
accordance with GAAP and the interest component of any deferred payment obligations, other
than, in each case, any interest expense in respect of the Cape Girardeau Lease;



-8-









 






     (2) amortization of debt discount (including the amortization of original issue
discount resulting from the issuance of Indebtedness at less than par), but excluding
amortization or write-off of debt issuance costs and non-recurring bridge, commitment and
other financing fees; provided, however, that any amortization of bond premium will be
credited to reduce Consolidated Interest Expense unless, pursuant to GAAP, such amortization
of bond premium has otherwise reduced Consolidated Interest Expense;




     (3) non-cash interest expense, but excluding any non-cash interest expense attributable
to the movement in the mark to market valuation of Hedging Obligations or other derivative
instruments pursuant to GAAP;




     (4) commissions, discounts and other fees and charges owed with respect to letters of
credit and bankers’ acceptance financing;




     (5) interest actually paid by the Company or any such Restricted Subsidiary under any
Guarantee of Indebtedness or other obligation of any other Person;




     (6) costs associated with Hedging Obligations (including amortization of fees);
provided, however, that if Hedging Obligations result in net benefits rather than costs,
such benefits shall be credited to reduce Consolidated Interest Expense unless, pursuant to
GAAP, such net benefits are otherwise reflected in Consolidated Net Income;




     (7) the Consolidated Interest Expense of such Person and its Restricted Subsidiaries
that was capitalized during such period;




     (8) the product of (a) all dividends paid or payable, in cash, Cash Equivalents or
Indebtedness or accrued during such period on any series of Disqualified Stock of such
Person or on Preferred Stock of its Restricted Subsidiaries that are not Subsidiary
Guarantors payable to a party other than the Company or a Wholly Owned Subsidiary, times (b)
a fraction, the numerator of which is one and the denominator of which is one minus the
then-current combined federal, state, provincial and local statutory tax rate of such
Person, expressed as a decimal, in each case, on a consolidated basis and in accordance with
GAAP;




     (9) Receivables Fees; and




     (10) the cash contributions to any employee stock ownership plan or similar trust to
the extent such contributions are used by such plan or trust to pay interest or fees to any
Person (other than the Company and its Restricted Subsidiaries) in connection with
Indebtedness Incurred by such plan or trust.



     For the purpose of calculating the Consolidated Coverage Ratio, the calculation of
Consolidated Interest Expense shall include all interest expense (including any amounts described
in clauses (1) through (10) above) relating to any Indebtedness of the Company or any Restricted
Subsidiary described in the final paragraph of the definition of “Indebtedness.”



     For purposes of the foregoing, total interest expense will be determined (i) after giving
effect to any net payments made or received by the Company and its Subsidiaries with respect to
Interest Rate Agreements and (ii) exclusive of amounts classified as other comprehensive income in
the balance sheet of the Company. Notwithstanding anything to the contrary contained herein,
without duplication of clause (9) above, commissions, discounts, yield and other fees and charges
Incurred in connection with any transaction pursuant to which the Company or its Restricted
Subsidiaries may sell, convey or otherwise transfer or grant a security interest in any accounts
receivable or related assets shall be included in Consolidated Interest Expense.



     “Consolidated Net Income” means, for any period, the net income (loss) of the Company
and its consolidated Restricted Subsidiaries determined on a consolidated basis in accordance with
GAAP; provided, however, that there will not be included in such Consolidated Net Income on an
after-tax basis (without duplication):



-9-









 






     (1) any net income (loss) of any Person if such Person is not a Restricted Subsidiary
or that is accounted for by the equity method of accounting, except that:




     (a) subject to the limitations contained in clauses (3) through (6) below, the
Company’s equity in the net income of any such Person for such period will be
included in such Consolidated Net Income up to the aggregate amount of cash actually
distributed by such Person during such period to the Company or a Restricted
Subsidiary as a dividend or other distribution (subject, in the case of a dividend
or other distribution to a Restricted Subsidiary, to the limitations contained in
clause (2) below); and




     (b) the Company’s equity in a net loss of any such Person (other than an
Unrestricted Subsidiary) for such period will be included in determining such
Consolidated Net Income to the extent such loss has been funded with cash from the
Company or a Restricted Subsidiary;




     (2) solely for the purpose of determining the amount available for Restricted Payments
under clause 4(c)(i) of Section 4.07(a), any net income (but not loss) of any Restricted
Subsidiary (other than a Subsidiary Guarantor) if such Subsidiary is subject to prior
government approval or other restrictions due to the operation of its charter or any
agreement, instrument, judgment, decree, order, statute, rule or government regulation
(which have not been waived), directly or indirectly, on the payment of dividends or the
making of distributions by such Restricted Subsidiary, directly or indirectly, to the
Company, except that:




     (a) subject to the limitations contained in clauses (3) through (6) below, the
Company’s equity in the net income of any such Restricted Subsidiary for such period
will be included in such Consolidated Net Income up to the aggregate amount of cash
that could have been distributed by such Restricted Subsidiary during such period to
the Company or another Restricted Subsidiary as a dividend (subject, in the case of
a dividend to another Restricted Subsidiary, to the limitation contained in this
clause); and




     (b) the Company’s equity in a net loss of any such Restricted Subsidiary for
such period will be included in determining such Consolidated Net Income;




     (3) any gain or loss (less all fees and expenses relating thereto) realized upon sales
or other dispositions of any assets of the Company or such Restricted Subsidiary, other than
in the ordinary course of business;




     (4) any after-tax effect of income (loss) from the early extinguishment of Indebtedness
or Hedging Obligations or other derivative instruments;




     (5) any net after-tax extraordinary gain or loss;




     (6) the cumulative effect of a change in accounting principles;




     (7) any non-cash compensation charges; and




     (8) any increase in amortization or depreciation resulting from purchase accounting
adjustments in connection with the Acquisition and any other acquisition consummated
following the Issue Date.



     “Corporate Trust Office of the Trustee” shall be the address of the Trustee specified
in Section 12.02 or such other address as to which the Trustee may give notice to the Holders and
the Company.



     “Credit Facility” means, with respect to the Company or any Subsidiary Guarantor or
any Restricted Subsidiary that is a Foreign Subsidiary, one or more debt facilities (including,
without limitation, the Senior Credit Facility) or commercial paper facilities or indentures with
banks or other institutional lenders or trustees providing for revolving credit loans, term loans,
receivables financing (including through the sale of receivables to such lenders or to special
purpose entities formed to borrow from such lenders against such receivables) or letters of credit
or issuances



-10-









 




of notes or other debt securities, in each case, as amended, restated, modified,
renewed, refunded, replaced or refinanced (including by means of sales of debt securities to
institutional investors) in whole or in part from time to time (and whether or not with the
original administrative agent and lenders or another administrative agent or agents or other
lenders).




     “Currency Agreement” means in respect of a Person any foreign exchange contract,
currency swap agreement, futures contract or option contract with respect to foreign exchange rates
or currency values, or other similar agreement as to which such Person is a party or a beneficiary.



     “Custodian” means the Trustee, as custodian with respect to the Notes in global form,
or any successor entity thereto.



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



     “Deferred Payment Amount” means $125.0 million payable in cash by the Company to
Broadlane Holdings, LLC on or before January 4, 2012, pursuant to, and subject to adjustment in
accordance with, the Purchase Agreement.



     “Deferred Payment Obligation” means, collectively, (i) the Deferred Payment Amount (as
defined in the Purchase Agreement) and (ii) the Seller Note (as defined in the Purchase Agreement).



     “Definitive Note” means a certificated Initial Note, Additional Note or Exchange Note
(bearing the Restricted Notes Legend if the transfer of such Note is restricted by applicable law)
that does not bear the Global Notes Legend and does not have the “Schedule of Exchanges of
Interests in the Global Note” attached thereto.



     “Depositary” means, with respect to the Notes issuable or issued in whole or in part
in global form, the Person specified in Section 2.03 as the Depositary with respect to the Notes,
and any and all successors thereto appointed as Depositary hereunder and having become such
pursuant to the applicable provision of this Indenture.



     “Designated Noncash Consideration” means the fair market value of noncash
consideration received by the Company or one of its Restricted Subsidiaries in connection with an
Asset Sale that is so designated as Designated Noncash Consideration pursuant to an Officers’
Certificate setting forth the basis of such valuation, less the amount of cash or Cash Equivalents
received in connection with a subsequent sale or other disposition, redemption or payment of, on or
with respect to such Designated Noncash Consideration.



     “Disqualified Stock” means, with respect to any Person, any Capital Stock of such
Person that by its terms (or by the terms of any security into which it is convertible or for which
it is exchangeable, in each case at the option of the holder thereof) or upon the happening of any
event:




     (1) matures or is mandatorily redeemable pursuant to a sinking fund obligation or
otherwise;




     (2) is convertible into or exchangeable for Indebtedness or Disqualified Stock
(excluding Capital Stock which is convertible or exchangeable solely at the option of the
Company or a Restricted Subsidiary (it being understood that upon such conversion or
exchange it shall be an Incurrence of such Indebtedness or Disqualified Stock); or




     (3) is redeemable at the option of the holder of the Capital Stock in whole or in part,




     (4) in each case on or prior to the date 91 days after the earlier of the final
maturity date of the Notes or the date the Notes are no longer outstanding; provided,
however, that only the portion of Capital Stock that so matures or is mandatorily
redeemable, is so convertible or exchangeable or is so redeemable at the option of the
holder thereof prior to such date will be deemed to be Disqualified Stock; provided further
that any Capital Stock that would constitute Disqualified Stock solely because the holders
thereof have the right to require the Company to repurchase such Capital Stock upon the
occurrence of a change of control or asset sale shall not constitute Disqualified Stock if
the terms of such Capital Stock (and all such



-11-









 







securities into which it is convertible or for which it is ratable or exchangeable)
provide that the Company may not repurchase or redeem any such Capital Stock pursuant to
such provision prior to compliance by the Company with the provisions of this Indenture
described under Sections 4.10 and 4.14 unless such repurchase or redemption complies with
Section 4.07.



     “Equity Offering” means a public offering or private placement for cash by the Company
of Capital Stock (other than Disqualified Stock), other than (x) public offerings with respect to
the Company’s Capital Stock, registered on Form S-4 or S-8, (y) an issuance to any Subsidiary of
the Company or (z) any offering of the Company’s Common Stock issued in connection with a
transaction that constitutes a Change of Control.



     “Event of Default” has the meaning set forth under Section 6.01.



     “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules
and regulations of the SEC promulgated thereunder.



     “Exchange Notes” means the Exchange Notes issued in exchange for the Notes pursuant to
the Registration Rights Agreement.



     “Exchange Offer” has the meaning set forth in the Registration Rights Agreement.



     “Foreign Subsidiary” means any Restricted Subsidiary that is not organized under the
laws of the United States of America or any state thereof or the District of Columbia and any
Subsidiary of such Restricted Subsidiary.



     “GAAP” means generally accepted accounting principles in the United States of America
as in effect as of the Issue Date, including those set forth in the opinions and pronouncements of
the Accounting Principles Board of the American Institute of Certified Public Accountants and
statements and pronouncements of the Financial Accounting Standards Board or in such other
statements by such other entity as approved by a significant segment of the accounting profession.
All ratios and computations based on GAAP contained in this Indenture will be computed in
conformity with GAAP, except that, in the event the Company is acquired in a transaction that is
accounted for using purchase accounting, the effects of the application of purchase accounting
shall be disregarded in the calculation of such ratios and other computations contained in this
Indenture.



     “Global Notes Legend” means the legend set forth in Section 2.01(d)(2).



     “Guarantee” means any obligation, contingent or otherwise, of any Person directly or
indirectly guaranteeing any Indebtedness of any other Person and any obligation, direct or
indirect, contingent or otherwise, of such Person:




     (1) to purchase or pay (or advance or supply funds for the purchase or payment of) such
Indebtedness of such other Person (whether arising by virtue of partnership arrangements, or
by agreement to keep-well, to purchase assets, properties, goods, securities or services, to
take-or-pay, or to maintain financial statement conditions or otherwise); or




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



     “Guarantor Subordinated Obligation” means, with respect to a Subsidiary Guarantor, any
Indebtedness of such Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter
Incurred) that is expressly subordinated in right of payment to the obligations of such Subsidiary
Guarantor under its Subsidiary Guarantee pursuant to a written agreement.



     “Hedging Obligations” of any Person means the obligations of such Person pursuant to
any Interest Rate Agreement, Currency Agreement or Commodity Agreement.



-12-









 





     “Holder” means a Person in whose name a Note is registered on the Registrar’s books.



     “IAI” means an institutional “accredited investor” as described in Rule 501(a)(1),
(2), (3) or (7) under the Securities Act.



     “Incur” means issue, create, assume, Guarantee, incur or otherwise become liable for;
provided, however, that any Indebtedness or Capital Stock of a Person existing at the time such
Person becomes a Restricted Subsidiary (whether by merger, consolidation, acquisition or otherwise)
will be deemed to be Incurred by such Restricted Subsidiary at the time it becomes a Restricted
Subsidiary; and the terms “Incurred” and “Incurrence” have meanings correlative to
the foregoing.



     “Indebtedness” means, with respect to any Person on any date of determination (without
duplication):




     (1) the principal of and premium (if any) in respect of indebtedness of such Person for
borrowed money;




     (2) the principal of and premium (if any) in respect of obligations of such Person
evidenced by bonds, debentures, notes or other similar instruments;




     (3) the principal component of all obligations of such Person in respect of letters of
credit, bankers’ acceptances or other similar instruments (including reimbursement
obligations with respect thereto except to the extent such reimbursement obligation relates
to a trade payable and such obligation is satisfied within 30 days of Incurrence);




     (4) the principal component of all obligations of such Person to pay the deferred and
unpaid purchase price of property, which purchase price is due more than six months after
the date of placing such property in service or taking delivery and title thereto, other
than (i) any such balance that constitutes a trade payable or similar obligation to a trade
creditor, in each case accrued in the ordinary course of business and (ii) any earn-out
obligation until the amount of such obligation becomes a liability on the balance sheet of
such Person in accordance with GAAP;




     (5) Capitalized Lease Obligations and all Attributable Indebtedness of such Person
(whether or not such items would appear on the balance sheet of the guarantor or obligor);




     (6) the principal component or liquidation preference of all obligations of such Person
with respect to the redemption, repayment or other repurchase of any Disqualified Stock or,
with respect to any Subsidiary that is not a Subsidiary Guarantor, any Preferred Stock (but
excluding, in each case, any accrued dividends);




     (7) the principal component of all Indebtedness of other Persons secured by a Lien on
any asset or property of such Person, whether or not such Indebtedness is assumed by such
Person; provided, however, that the amount of such Indebtedness will be the lesser of (a)
the fair market value of such asset or property at such date of determination and (b) the
amount of such Indebtedness of such other Persons;




     (8) the principal component of Indebtedness of other Persons to the extent Guaranteed
by such Person (whether or not such items would appear on the balance sheet of the guarantor
or obligor) and any Indebtedness of a partnership of which such Person is a general partner
to the extent there is recourse to such Person by contract or operation of law for such
Indebtedness;




     (9) to the extent not otherwise included in this definition, net obligations of such
Person under Hedging Obligations (the amount of any such obligations to be equal at any time
to the termination value of such agreement or arrangement giving rise to such Obligation
that would be payable by such Person at such time); and



-13-









 






     (10) to the extent not otherwise included in this definition, the amount of obligations
outstanding under the legal documents entered into as part of a securitization transaction
or series of securitization transactions that would be characterized as principal if such
transaction were structured as a secured lending transaction rather than as a purchase
outstanding relating to a securitization transaction or series of securitization
transactions.



     The amount of Indebtedness of any Person at any date will be the outstanding balance at such
date of all unconditional obligations as described above and the maximum liability, upon the
occurrence of the contingency giving rise to the obligation, of any contingent obligations at such
date.



     “Indenture” means this Indenture, as amended or supplemented from time to time.



     “Independent Financial Advisor” means an accounting, appraisal, investment banking
firm or consultant to Persons engaged in Similar Businesses of nationally recognized standing that
is, in the good faith judgment of the Company, qualified to perform the task for which it has been
engaged.



     “Initial Notes” has the meaning set forth in the recitals hereto.



     “Interest Payment Date” means May 15 and November 15 of each year to the Stated
Maturity of the Notes, commencing May 15, 2011.



     “Interest Rate Agreement” means, with respect to any Person, any interest rate
protection agreement, interest rate future agreement, interest rate option agreement, interest rate
swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate hedge
agreement or other similar agreement or arrangement as to which such Person is party or a
beneficiary.



     “Investment” means, with respect to any Person, all investments by such Person in
other Persons (including Affiliates) in the form of any direct or indirect advance, loan (other
than advances or extensions of credit to customers in the ordinary course of business) or other
extensions of credit (including by way of Guarantee or similar arrangement, but excluding any debt
or extension of credit represented by a bank deposit other than a time deposit) or capital
contribution to (by means of any transfer of cash or other property to others or any payment for
property or services for the account or use of others), or any purchase or acquisition of Capital
Stock, Indebtedness or other similar instruments issued by, such Person and all other items that
are or would be classified as investments on a balance sheet prepared in accordance with GAAP;
provided that none of the following will be deemed to be an Investment:




     (1) Hedging Obligations entered into in the ordinary course of business and in
compliance with this Indenture;




     (2) endorsements of negotiable instruments and documents in the ordinary course of
business; and




     (3) an acquisition of property, assets, Capital Stock or other securities by the
Company or a Subsidiary for consideration to the extent such consideration consists of
Common Stock of the Company.



     For purposes of Section 4.07,




     (1) “Investment” will include the portion (proportionate to the Company’s equity
interest in a Restricted Subsidiary to be designated as an Unrestricted Subsidiary) of the
fair market value of the net assets of such Restricted Subsidiary at the time that such
Restricted Subsidiary is designated an Unrestricted Subsidiary; provided, however, that upon
a redesignation of such Subsidiary as a Restricted Subsidiary, the Company will be deemed to
continue to have a permanent “Investment” in an Unrestricted Subsidiary in an amount (if
positive) equal to (a) the Company’s aggregate “Investment” in such Subsidiary as of the
time of such redesignation less (b) the portion (proportionate to the Company’s equity
interest in such Subsidiary) of the fair market value of the net assets (as determined in
good faith by an Officer of the Company (as evidenced



-14-









 







by an Officers’ Certificate)) of such Subsidiary at the time that such
Subsidiary is so re-designated a Restricted Subsidiary; and




     (2) any property transferred to or from an Unrestricted Subsidiary will be valued at
its fair market value at the time of such transfer (in each case, as determined in good
faith by an Officer of the Company (as evidenced by an Officers’ Certificate)).



     “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the
equivalent) by Moody’s Investors Service, Inc. and BBB- (or the equivalent) by Standard & Poor’s
Ratings Group, Inc., in each case, with a stable or better outlook (or an equivalent rating by any
replacement Rating Agency).



     “Issue Date” means November 16, 2010.



     “Lien” means, with respect to any asset or property, any mortgage, lien (statutory or
otherwise), pledge, hypothecation, charge, security interest, preference, priority or encumbrance
of any kind in respect of such asset or property, whether or not filed, recorded or otherwise
perfected under applicable law, including any conditional sale or other title retention agreement,
any lease in the nature thereof, any option or other agreement to sell or give a security interest
in any asset or property and any filing of or agreement to give any financing statement under the
Uniform Commercial Code (or equivalent statutes) of any jurisdiction; provided that in no event
shall an operating lease be deemed to constitute a Lien.



     “Net Available Cash” from an Asset Sale means the aggregate cash payments received
(including any cash payments received by way of deferred payment of principal pursuant to a note or
installment receivable or otherwise and net proceeds from the sale or other disposition of any
securities or other assets or property received as consideration, but only as and when received,
but excluding any other consideration received in the form of assumption, by the acquiring Person,
of Indebtedness or other obligations relating to the properties or assets that are the subject of
such Asset Sale or received in any other noncash form) therefrom, in each case net of:




     (1) all legal, accounting, brokerage and investment banking fees and expenses, title
and recording tax expenses, commissions and other fees, expenses and direct costs
(including, without limitation, employee severance and relocation costs and expenses)
Incurred, and all federal, state, provincial, foreign and local taxes required to be paid or
accrued as a liability under GAAP (after taking into account any available tax credits or
deductions and any tax sharing agreements), as a consequence of such Asset Sale;




     (2) all payments made on any Indebtedness that is secured by any assets or property
subject to such Asset Sale, in accordance with the terms of any Lien upon such assets or
property, or which must by its terms, or in order to obtain a necessary consent to such
Asset Sale, or by applicable law, be repaid out of the proceeds from such Asset Sale;




     (3) all distributions and other payments required to be made to minority interest
holders in Subsidiaries or joint ventures as a result of such Asset Sale;




     (4) the deduction of appropriate amounts to be provided by the seller as a reserve, in
accordance with GAAP, against any liabilities associated with the assets or property
disposed of in such Asset Sale and retained by the Company or any Restricted Subsidiary
after such Asset Sale; and




     (5) until received by the selling person, any portion of the purchase price from an
Asset Sale placed in escrow or withheld by the purchaser, whether as a reserve for
adjustment of the purchase price, for satisfaction of indemnities in respect of such Asset
Sale or otherwise in connection with such Asset Sale.



     “Net Cash Proceeds,” with respect to any issuance or sale of Capital Stock, means the
cash proceeds of such issuance or sale net of attorneys’ fees, accountants’ fees, underwriters’ or
placement agents’ fees, listing fees, discounts or commissions and brokerage, consultant and other
fees and charges actually Incurred in connection with



-15-









 




such issuance or sale and net of taxes paid or payable as a result of such issuance or sale
(after taking into account any available tax credit or deductions and any tax sharing
arrangements).




     “Non-Guarantor Subsidiary” means any Restricted Subsidiary that is not a Subsidiary
Guarantor.



     “Non-Recourse Debt” means Indebtedness of a Person:




     (1) as to which neither the Company nor any Restricted Subsidiary: (a) provides any
Guarantee or credit support of any kind (including any undertaking, Guarantee, indemnity,
agreement or instrument that would constitute Indebtedness); or (b) is directly or
indirectly liable (as a guarantor or otherwise); and




     (2) no default with respect to which (including any rights that the holders thereof may
have to take enforcement action against an Unrestricted Subsidiary) would permit (upon
notice, lapse of time or both) any holder of any other Indebtedness of the Company or any
Restricted Subsidiary to declare a default under such other Indebtedness or cause the
payment thereof to be accelerated or payable prior to its Stated Maturity.



     “Note Purchase Agreement” means the purchase agreement, dated November 9, 2010, among
the Company, Subsidiary Guarantors and J.P. Morgan Securities LLC, as representative of the several
initial purchasers listed in Schedule I thereto.



     “Notes” means the Initial Notes, the Exchange Notes and more particularly means any
Note authenticated and delivered under this Indenture. For all purposes of this Indenture, the
term “Notes” shall also include any Additional Notes that may be issued. For purposes of this
Indenture, all references to Notes to be issued or authenticated upon transfer, replacement or
exchange shall be deemed to refer to Notes of the applicable series. The Notes and the Additional
Notes, if any, shall be treated as a single class for all purposes under this Indenture.



     “Obligations” means any principal, interest (including any interest accruing
subsequent to the filing of a petition in bankruptcy, reorganization or similar proceeding at the
rate provided for in the documentation with respect thereto, whether or not such interest is an
allowed claim under applicable state, federal or foreign law), other monetary obligations,
penalties, fees, indemnifications, reimbursements (including reimbursement obligations with respect
to letters of credit and banker’s acceptances), damages and other liabilities, and Guarantees of
payment of such principal, interest, penalties, fees, indemnifications, reimbursements, damages and
other liabilities, payable under the documentation governing any Indebtedness.



     “Offering Memorandum” means the offering memorandum, dated November 9, 2010, relating
to the sale of the Initial Notes.



     “Officer” means the Chairman of the Board, the Chief Executive Officer, the President,
the Chief Operating Officer, Chief Financial Officer, any Executive Vice President, Senior Vice
President or Vice President, the Controller, the Treasurer or the Secretary of the Company.
“Officer” of any Subsidiary Guarantor has a correlative meaning.



     “Officers’ Certificate” means a certificate signed by two Officers or by an Officer
and either an Assistant Treasurer or an Assistant Secretary of the Company.



     “Opinion of Counsel” means a written opinion from legal counsel who is reasonably
acceptable to the Trustee. The counsel may be an employee of or counsel to the Company or the
Trustee.



     “Pari
Passu Indebtedness” means Indebtedness that ranks equally in right of payment to the Notes.



     “Permitted
Investment” means an Investment by the Company or any Restricted Subsidiary in:




     (1) the Company or a Restricted Subsidiary;



-16-









 






     (2) any Investment by the Company or any of its Restricted Subsidiaries in a Person
that is engaged in a Similar Business if as a result of such Investment:




     (a) such Person becomes a Restricted Subsidiary; or




     (b) such Person, in one transaction or a series of related transactions, is
merged or consolidated with or into, or transfers or conveys all or substantially
all of its assets to, or is liquidated into, the Company or a Restricted Subsidiary,
and, in each case, any Investment held by such Person; provided that such Investment
was not acquired by such Person in contemplation of such acquisition, merger,
consolidation or transfer;




     (3) cash and Cash Equivalents;




     (4) receivables owing to the Company or any Restricted Subsidiary created or acquired
in the ordinary course of business and payable or dischargeable in accordance with customary
trade terms; provided, however, that such trade terms may include such concessionary trade
terms as the Company or any such Restricted Subsidiary deems reasonable under the
circumstances;




     (5) commission, payroll, travel and similar advances to cover matters that are expected
at the time of such advances ultimately to be treated as expenses for accounting purposes
and that are made in the ordinary course of business;




     (6) loans or advances to employees, officers or directors of the Company or any
Restricted Subsidiary in the ordinary course of business consistent with past practices in
an aggregate amount not in excess of $10.0 million at any one time outstanding;




     (7) any Investment acquired by the Company or any of its Restricted Subsidiaries:




     (a) in exchange for any other Investment or accounts receivable held by the
Company or any such Restricted Subsidiary in connection with or as a result of a
bankruptcy, workout, reorganization or recapitalization of the issuer of such other
Investment or accounts receivable;




     (b) in satisfaction of judgments or in compromise, settlement or resolution of
any litigation, arbitration or other dispute; or




     (c) as a result of a foreclosure by the Company or any of its Restricted
Subsidiaries with respect to any secured Investment or other transfer of title with
respect to any secured Investment in default;




     (8) Investments made as a result of the receipt of noncash consideration from an Asset
Sale that was made pursuant to and in compliance with Section 4.10 or any other disposition
of assets or property not constituting an Asset Sale;




     (9) Investments in existence on the Issue Date;




     (10) Currency Agreements, Interest Rate Agreements, Commodity Agreements and related
Hedging Obligations, which transactions or obligations are Incurred in compliance with
Section 4.09;




     (11) Guarantees of Indebtedness issued in accordance with Section 4.09;




     (12) Investments made in connection with the funding of contributions under any
non-qualified retirement plan or similar employee compensation plan in an amount not to
exceed the amount of compensation expense recognized by the Company and its Restricted
Subsidiaries in connection with such plans;



-17-









 






     (13) Investments by the Company or any of its Restricted Subsidiaries, when taken
together with all other Investments made pursuant to this clause (13) since the Issue Date
that are at that time outstanding, having an aggregate fair market value (with the fair
market value of each Investment being measured at the time made and without giving effect to
subsequent changes in value) at the time of such Investment not to exceed the greater of
$35.0 million and 2.0% of Total Assets; and




     (14) Investments to the extent made in exchange for the issuance of Capital Stock
(other than Disqualified Stock) of the Company; and




     (15) Investments arising from the factoring or purchase of accounts receivable owing to
hospitals and other healthcare providers in an aggregate amount for all such Investments
pursuant to this clause (15) not to exceeed $30.0 million (net of any cash return from such
Investments received by the Issuer and its Restricted Subsidiaries as a result of the
receipt of collections thereunder or upon the disposition thereof).



     “Permitted Liens” means, with respect to any Person:




     (1) Liens securing Indebtedness and other obligations of the Company and its Restricted
Subsidiaries under (i) a Credit Facility permitted to be Incurred under clause (1) of
Section 4.09(b) of this Indenture and (ii) in respect of Indebtedness in excess of the
maximum amount of Indebtedness permitted to be secured by Liens pursuant to the foregoing
subclause (i), so long as, in the case of this subclause (ii), immediately after giving
effect to the Incurrence of such Indebtedness on the date such Indebtedness is Incurred (or,
in the case of Indebtedness Incurred pursuant to revolving commitments under any Credit
Facility, on the date such revolving commitments are provided) on a pro forma basis the
Secured Leverage Ratio would not exceed 3.25 to 1.0;




     (2) Liens by such Person under workers’ compensation laws, unemployment insurance laws
or similar legislation, in connection with good faith pledges or deposits in connection with
bids, tenders, contracts (other than for the payment of Indebtedness) or leases, or Liens to
secure public or statutory obligations of such Person or deposits of cash or United States
government bonds to secure surety or appeal bonds, or deposits as security for contested
taxes or import or customs duties or for the payment of rent, in each case Incurred in the
ordinary course of business;




     (3) Liens imposed by law, including carriers’, warehousemen’s, mechanics’, suppliers’,
vendors’, materialmen’s and repairmen’s Liens or similar Liens, Incurred in the ordinary
course of business;




     (4) Liens for taxes, assessments or other governmental charges not yet subject to
penalties for non-payment or that are being contested in good faith provided appropriate
reserves to the extent required pursuant to GAAP have been made in respect thereof;




     (5) Liens to secure surety, stay, appeal, indemnification, performance or similar bonds
or letters of credit or bankers’ acceptances or similar obligations; provided, however, that
such letters of credit do not constitute Indebtedness, or Liens with respect to insurance
premium financing;




     (6) survey exceptions, encumbrances, ground leases, easements or reservations of, or
rights of others for, licenses, rights of way, sewers, electric lines, telegraph and
telephone lines and other similar purposes, or zoning, building codes or other restrictions
(including, without limitation, minor defects or irregularities in title and similar
encumbrances) as to the use of real properties or Liens incidental to the conduct of the
business of such Person or to the ownership of its properties that do not in the aggregate
materially adversely affect the value of said properties or materially impair their use in
the operation of the business of such Person;




     (7) Liens securing Hedging Obligations so long as any related Indebtedness is permitted
to be Incurred under this Indenture;



-18-









 






     (8) leases, licenses, subleases and sublicenses of assets or property (including,
without limitation, real property and intellectual property rights) that do not materially
interfere with the ordinary conduct of the business of the Company or any of its Restricted
Subsidiaries;




     (9) judgment and attachment Liens and Liens arising by reason of a court order or
decree and notices of lis pendens and associated rights related to litigation being
contested in good faith, in each case not giving rise to an Event of Default;




     (10) Liens securing Indebtedness (including Capitalized Lease Obligations, Attributable
Indebtedness, mortgage financings and purchase money obligations) permitted under clause (8)
of Section 4.09(b), which Liens cover only assets or property acquired, financed, designed,
leased, constructed, repaired, maintained, installed or improved with or by such
Indebtedness (including any proceeds thereof, accessions thereto and any upgrades or
improvements thereto); provided that the aggregate principal amount of Indebtedness secured
by such Liens is otherwise permitted to be Incurred under this Indenture and does not exceed
the cost of the assets or property so financed, designed, leased, constructed, repaired,
maintained, installed or improved;




     (11) Liens arising solely by virtue of any statutory or common law provisions relating
to banker’s Liens, rights of set-off, revocation, refund or chargeback or similar rights and
remedies as to deposit or securities accounts or other funds or instruments maintained with
a depositary institution; provided that: (a) such deposit or securities account is not a
dedicated cash collateral account and is not subject to restrictions against access by the
Company in excess of those set forth by regulations promulgated by the Federal Reserve
Board; and (b) such deposit or securities account is not intended by the Company or any
Restricted Subsidiary to provide Collateral to the depository institution;




     (12) Liens arising from Uniform Commercial Code financing statement filings regarding
operating leases entered into by the Company and its Restricted Subsidiaries in the ordinary
course of business;




     (13) Liens existing on the Issue Date (other than Liens permitted under clause (1));




     (14) Liens on property or Capital Stock of a Person at the time such Person becomes a
Restricted Subsidiary or is merged or consolidated with or into the Company or a Restricted
Subsidiary; provided, however, that such Liens were in existence prior to such Person became
a Restricted Subsidiary or merged or consolidated with or into the Company or a Restricted
Subsidiary and were not Incurred in connection with, or in contemplation of, such event;
provided further, however, that any such Lien may not extend to any other property owned by
the Company or any Restricted Subsidiary;




     (15) Liens on property (including Capital Stock) at the time the Company or a
Restricted Subsidiary acquired the property, including any acquisition by means of a merger
or consolidation with or into the Company or any Restricted Subsidiary; provided, however,
that such Liens were in existence prior to such acquisition and were not Incurred in
connection with, or in contemplation of, such acquisition; provided further, however, that
such Liens do not extend to any other property owned by the Company or any Restricted
Subsidiary;




     (16) Liens securing Indebtedness or other obligations of the Company owing to a
Restricted Subsidiary, or of a Restricted Subsidiary owing to the Company or another
Restricted Subsidiary (other than a receivables entity);




     (17) Liens securing the Notes and Subsidiary Guarantees;




     (18) Liens securing Refinancing Indebtedness Incurred to refinance, refund, replace,
defease, amend, extend or modify, as a whole or in part, Indebtedness that was previously so
secured pursuant to clauses (13), (14), (15), (17) and this clause (18) of this definition,
provided that any such Lien is limited to all or part of the same property or assets (plus
improvements, accessions, proceeds or dividends or distributions



-19-









 







in respect thereof) that secured (or, under the written arrangements under which
the original Lien arose, could secure) the Indebtedness being refinanced or is in respect of
property that is the security for a Permitted Lien hereunder;




     (19) any interest or title of a lessor under any Capitalized Lease Obligation or
operating lease;




     (20) Liens in favor of the Company or any Restricted Subsidiary;




     (21) Liens securing Indebtedness and other obligations (other than Subordinated
Obligations and Guarantor Subordinated Obligations) in an aggregate principal amount
outstanding at any one time not to exceed $15.0 million;




     (22) other non-consensual Liens Incurred in the ordinary course of business that do not
materially interfere with the ordinary conduct of the business of the Company and its
Restricted Subsidiaries;




     (23) Liens that may be deemed to exist by virtue of contractual provisions that
restrict the ability of the Company or any of its Restricted Subsidiaries from incurring or
creating Liens on their assets or property;




     (24) Liens securing cash management obligations (that do not constitute Indebtedness)
Incurred in the ordinary course of business; and




     (25) Liens upon properties or assets of Foreign Subsidiaries to secure obligations
permitted to be Incurred by Foreign Subsidiaries.



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



     “Preferred Stock” as applied to the Capital Stock of any corporation, means Capital
Stock of any class or classes (however designated) that is preferred as to the payment of dividends
upon liquidation, dissolution or winding up.



     “Purchase Agreement” means the stock purchase agreement by and among Broadlane
Intermediate Holdings, Inc., Broadlane Holdings, LLC and the Company dated as of September 14, 2010
pursuant to which the Company has agreed to acquire 100% of the outstanding capital stock of
Broadlane Intermediate Holdings, Inc.



     “QIB” means any “qualified institutional buyer” as such term is defined in Rule 144A.



     “Rating Agencies” means Standard & Poor’s Ratings Group, Inc. and Moody’s Investors
Service, Inc. or if Standard & Poor’s Ratings Group, Inc. or Moody’s Investors Service, Inc. or
both shall not make a rating on the Notes publicly available, a nationally recognized statistical
Rating Agency or agencies, as the case may be, selected by the Company (as certified by resolution
of the Board of Directors) which shall be substituted for Standard & Poor’s Ratings Group, Inc. or
Moody’s Investors Service, Inc. or both, as the case may be.



     “Receivable” means a right to receive payment arising from a sale or lease of goods or
the performance of services by a Person pursuant to an arrangement with another Person pursuant to
which such other Person is obligated to pay for goods or services under terms that permit the
purchase of such goods and services on credit and shall include, in any event, any items of
property that would be classified as an “account,” “chattel paper,” “payment intangible” or
“instrument” under the Uniform Commercial Code as in effect in the State of New York and any
“supporting obligations” as so defined.



     “Receivables Fees” means any fees or interest paid to purchasers or lenders providing
the financing in connection with a factoring agreement or other similar agreement, including any
such amounts paid by discounting the face amount of Receivables or participations therein
transferred in connection with a factoring agreement or other



-20-









 




similar arrangement, regardless of whether any such transaction is structured as on-balance
sheet or off- balance sheet or through a Restricted Subsidiary or an Unrestricted Subsidiary.




     “Record Date” for the interest or Additional Interest, if any, payable on any
applicable Interest Payment Date means the May 1 or November 1 (whether or not a Business Day) next
preceding such Interest Payment Date.



     “Refinancing Indebtedness” means Indebtedness that is Incurred to refund, refinance,
replace, exchange, renew, repay or extend (including pursuant to any defeasance or discharge
mechanism) (collectively, “refinance,” “refinances” and “refinanced” shall each have a correlative
meaning) any Indebtedness existing on the Issue Date or Incurred in compliance with this Indenture
(including Indebtedness of the Company that refinances Indebtedness of any Restricted Subsidiary,
Indebtedness of any Restricted Subsidiary that refinances Indebtedness of another Restricted
Subsidiary or Indebtedness of any Subsidiary Guarantor that refinances Indebtedness of the Company
or any Subsidiary Guarantor) including Indebtedness that refinances Refinancing Indebtedness,
provided, however, that:




     (1) (a) if the Stated Maturity of the Indebtedness being refinanced is earlier than the
Stated Maturity of the Notes, the Refinancing Indebtedness has a Stated Maturity no earlier
than the Stated Maturity of the Indebtedness being refinanced or (b) if the Stated Maturity
of the Indebtedness being refinanced is later than the Stated Maturity of the Notes, the
Refinancing Indebtedness has a Stated Maturity at least 91 days later than the Stated
Maturity of the Notes;




     (2) the Refinancing Indebtedness has an Average Life at the time such Refinancing
Indebtedness is Incurred that is equal to or greater than the Average Life of the
Indebtedness being refinanced;




     (3) such Refinancing Indebtedness is Incurred in an aggregate principal amount (or if
issued with original issue discount, an aggregate issue price) that is equal to or less than
the sum of the aggregate principal amount (or if issued with original issue discount, the
aggregate accreted value) then outstanding of the Indebtedness being refinanced (plus,
without duplication, any additional Indebtedness Incurred to pay interest or premiums
required by the instruments governing such existing Indebtedness and fees Incurred in
connection therewith);




     (4) if the Indebtedness being refinanced is subordinated in right of payment to the
Notes or the Subsidiary Guarantee, such Refinancing Indebtedness is subordinated in right of
payment to the Notes or the Subsidiary Guarantee on terms not materially less favorable,
when taken as a whole, to the holders as those contained in the documentation governing the
Indebtedness being refinanced; and




     (5) Refinancing Indebtedness shall not include Indebtedness of a Non-Guarantor
Subsidiary that refinances Indebtedness of the Company or a Subsidiary Guarantor.



     “Registration Rights Agreement” means that certain registration rights agreement dated
as of the Issue Date by and among the Company, the Subsidiary Guarantors and the initial purchasers
set forth therein and, with respect to any Additional Notes, one or more substantially similar
registration rights agreements among the Company and the other parties thereto, as such agreements
may be amended from time to time.



     “Regulation S” means Regulation S under the Securities Act.



     “Restricted Investment” means any Investment other than a Permitted Investment.



     “Restricted Notes Legend” means the legend set forth in Section 2.01(d)(1).



     “Restricted Subsidiary” means any Subsidiary of the Company other than an Unrestricted
Subsidiary.



     “Restructuring Charges” means all charges and expenses caused by or attributable to
any restructuring, severance, relocation, consolidation, closing, integration, business
optimization or transition, signing, retention or completion bonus or curtailments or modifications
to pension and post-retirement employee benefit plans.




-21-











 





     “Rule 144A” means Rule 144A under the Securities Act.



     “Sale/Leaseback Transaction” means an arrangement relating to property now owned or
hereafter acquired whereby the Company or a Restricted Subsidiary transfers such property to a
Person (other than the Company or any of its Subsidiaries) and the Company or a Restricted
Subsidiary leases it from such Person.



     “SEC” means the U.S. Securities and Exchange Commission.



     “Secured Indebtedness” means any Indebtedness for borrowed money of the Company or any
of its Restricted Subsidiaries secured by a Lien on any assets of the Company or any of its
Restricted Subsidiaries (other than (i) Hedging Obligations permitted to be Incurred pursuant to
clause (7) of Section 4.09(b) and (ii) the Notes, to the extent secured by any such Lien).



     “Secured Leverage Ratio” as of any date of determination, means the ratio of:




     (1) the outstanding principal amount of Secured Indebtedness of the Company and its
Restricted Subsidiaries as of such date on a consolidated basis in accordance with GAAP
(provided, that for purposes of this definition, any undrawn revolving commitments under a
secured credit facility shall be deemed to be Secured Indebtedness in the full amount of
such undrawn revolving commitments for so long as such commitments are outstanding); to




     (2) Consolidated EBITDA of the Company and its Restricted Subsidiaries for the period
of the most recent four consecutive fiscal quarters ending prior to such date for which
financial statements prepared on a consolidated basis in accordance with GAAP are available;
provided, however, that Consolidated EBITDA shall be determined for purposes of this
definition with such pro forma adjustment consistent with the definition of Consolidated
Coverage Ratio.



     “Securities Act” means the Securities Act of 1933, as amended, and the rules and
regulations of the SEC promulgated thereunder.



     “Seller Note” means that certain subordinated promissory note to be entered into by
the Company if all or a portion of the Deferred Payment Amount is not paid in cash on or prior to
January 4, 2012, in an amount equal to the unpaid amount.



     “Senior Credit Facility” means that certain senior secured credit agreement of the
Company and certain of its Subsidiaries with Barclays Bank PLC, as administrative agent, and the
other parties thereto, dated on or about the Issue Date, including any related notes, Guarantees,
instruments and agreements executed in connection therewith, as amended, modified, renewed,
refunded, replaced, restructured, restated or refinanced in whole or in part from time to time
(including increasing the amount loaned thereunder, provided that such additional Indebtedness is
Incurred in accordance with Section 4.09).



     “Shelf Registration Statement” means the Shelf Registration Statement as defined in
the Registration Rights Agreement.



     “Significant Subsidiary” means any Restricted Subsidiary that would be a “Significant
Subsidiary” of the Company within the meaning of Rule 1-02 under Regulation S-X promulgated by the
SEC, as in effect on the Issue Date.



     “Similar Business” means any business conducted or proposed to be conducted by the
Company and its Restricted Subsidiaries on the Issue Date or any business that is similar,
reasonably related, incidental, complementary or ancillary thereto, or that constitutes a
reasonable extension or expansion thereof.



     “Stated Maturity” means, with respect to any security, the date specified in the
agreement governing or certificate relating to such Indebtedness as the fixed date on which the
final payment of principal of such security is due and payable, including pursuant to any mandatory
redemption provision, but shall not include any contingent obliga-



-22-









 




tions to repay, redeem or repurchase any such principal prior to the date originally scheduled
for the payment thereof.




     “Subordinated Obligation” means any Indebtedness of the Company (whether outstanding
on the Issue Date or thereafter Incurred) that is subordinated or junior in right of payment to the
Notes pursuant to a written agreement. For the avoidance of doubt, the Deferred Payment Amount
shall not constitute a Subordinated Obligation.



     “Subsidiary” of any Person means (a) any corporation, association or other business
entity (other than a partnership, joint venture, limited liability company or similar entity) of
which more than 50% of the total ordinary voting power of shares of Capital Stock entitled (without
regard to the occurrence of any contingency) to vote in the election of directors, managers or
trustees thereof (or Persons performing similar functions) or (b) any partnership, joint venture
limited liability company or similar entity of which more than 50% of the capital accounts,
distribution rights, total equity and voting interests or general or limited partnership interests,
as applicable, is, in the case of clauses (a) and (b), at the time owned or controlled, directly or
indirectly, by (1) such Person, (2) such Person and one or more Subsidiaries of such Person or (3)
one or more Subsidiaries of such Person. Unless otherwise specified herein, each reference to a
Subsidiary will refer to a Subsidiary of the Company.



     “Subsidiary Guarantee” means, individually, any Guarantee of payment of the Notes and
Exchange Notes issued in a registered Exchange Offer pursuant to the Registration Rights Agreement
by a Subsidiary Guarantor pursuant to the terms of this Indenture and any supplemental indenture
thereto, and, collectively, all such Guarantees. Each such Subsidiary Guarantee will be in the
form prescribed by this Indenture.



     “Subsidiary Guarantor” means each Restricted Subsidiary in existence on the Issue Date
that provides a Subsidiary Guarantee on the Issue Date (and any other Restricted Subsidiary that
provides a Subsidiary Guarantee in accordance with this Indenture); provided that upon release or
discharge of such Restricted Subsidiary from its Subsidiary Guarantee in accordance with this
Indenture, such Restricted Subsidiary ceases to be a Subsidiary Guarantor.



     “Total Assets” means, at any date, the total consolidated assets of the Company and
its Restricted Subsidiaries, as shown on the most recent balance sheet of the Company available on
such date, without giving effect to any amortization of the amount of intangible assets since
September 30, 2010.



     “Transactions” means, collectively, the Acquisition, the offering of the Notes, the
entering into of and the initial borrowings under the Senior Credit Facility and the repayment of
debt occurring on the Issue Date.



     “Transfer Restricted Notes” means Definitive Notes and any other Notes that bear or
are required to bear the Restricted Notes Legend.



     “Treasury Rate” means the yield to maturity at the time of computation of United
States Treasury securities with a constant maturity (as compiled and published in the most recent
Federal Reserve Statistical Release H.15 (519) that has become publicly available at least two
Business Days prior to the redemption date (or, if such Statistical Release is no longer published,
any publicly available source or similar market data)) most nearly equal to the period from the
redemption date to November 15, 2014; provided, however, that if the period from the redemption
date to November 15, 2014 is not equal to the constant maturity of a United States Treasury
security for which a weekly average yield is given, the Treasury Rate shall be obtained by linear
interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of
United States Treasury securities for which such yields are given, except that if the period from
the redemption date to November 15, 2014 is less than one year, the weekly average yield on
actually traded United States Treasury securities adjusted to a constant maturity of one year will
be used.



     “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended (15 U.S.C. §§
77aaa-777bbbb).



     “Trust Officer” means, when used with respect to the Trustee, any officer within the
corporate trust department of the Trustee having direct responsibility for the administration of
this Indenture, or any other officer to



-23-









 




whom any corporate trust matter is referred because of such officer’s knowledge of and
familiarity with the particular subject.




     “Trustee” means Wells Fargo Bank, National Association, not in its individual capacity
but solely as trustee, until a successor replaces it in accordance with the applicable provisions
of this Indenture and thereafter means the successor serving hereunder.



     “Unrestricted Subsidiary” means:




     (1) any Subsidiary of the Company that at the time of determination shall be designated
an Unrestricted Subsidiary by the Board of Directors of the Company in the manner provided
below; and




     (2) any Subsidiary of an Unrestricted Subsidiary. The Board of Directors of the
Company may designate any Subsidiary of the Company (including any newly acquired or newly
formed Subsidiary or a Person becoming a Subsidiary through merger or consolidation or
Investment therein) to be an Unrestricted Subsidiary only if:




     (1) such Subsidiary or any of its Subsidiaries has not Guaranteed any Capital
Stock or Indebtedness of or have any Investment in, the Company or any Restricted
Subsidiary and does not hold any Liens on any property or assets of the Company or
any Restricted Subsidiary;




     (2) all the Indebtedness of such Subsidiary and its Subsidiaries shall, at the
date of designation, and will for so long as it is an Unrestricted Subsidiary,
consist of Non-Recourse Debt;




     (3) the aggregate fair market value of all outstanding Investments of the
Company and its Restricted Subsidiaries in such Subsidiary complies with Section
4.07 or constitutes a Permitted Investment;




     (4) such Subsidiary is a Person with respect to which neither the Company nor
any of its Restricted Subsidiaries has any direct or indirect obligation to maintain
or preserve such Person’s financial condition or to cause such Person to achieve any
specified levels of operating results; and




     (5) except as permitted by the covenant above under Section 4.11, on the date
such Subsidiary is designated an Unrestricted Subsidiary, such Subsidiary is not a
party to any agreement, contract, arrangement or understanding with the Company or
any Restricted Subsidiary with terms substantially less favorable to the Company or
such Restricted Subsidiary, when taken as a whole, than those that would have been
obtained from Persons who are not Affiliates of the Company.



     Any such designation by the Board of Directors of the Company after the Issue Date shall be
evidenced to the Trustee by filing with the Trustee a resolution of the Board of Directors of the
Company giving effect to such designation and an Officers’ Certificate certifying that such
designation complies with the foregoing conditions. If, at any time, any Unrestricted Subsidiary
would fail to meet the foregoing requirements as an Unrestricted Subsidiary, it shall thereafter
cease to be an Unrestricted Subsidiary for purposes of this Indenture and any Indebtedness of such
Subsidiary shall be deemed to be Incurred as of such date. The Board of Directors of the Company
may designate any Unrestricted Subsidiary to be a Restricted Subsidiary in the same manner provided
above; provided that immediately after giving effect to such designation, no Event of Default shall
have occurred and be continuing or would occur as a consequence thereof and the Company could Incur
at least $1.00 of additional Indebtedness pursuant to Section 4.09(a) on a pro forma basis taking
into account such designation.



     “U.S. Government Obligations” means securities that are:




     (a) direct obligations of the United States of America for the timely payment of which
its full faith and credit is pledged; or



-24-









 






     (b) obligations of a Person controlled or supervised by and acting as an agency or
instrumentality of the United States of America the timely payment of that is
unconditionally guaranteed as a full faith and credit obligation of the United States of
America, which, in either case, are not callable or redeemable at the option of the issuer
thereof, and shall also include a depositary receipt issued by a bank (as defined in Section
3(a)(2) of the Securities Act), as custodian with respect to any such U.S. Government
Obligations or a specific payment of principal of or interest on any such U.S. Government
Obligations held by such custodian for the account of the holder of such depositary receipt;
provided that (except as required by law) such custodian is not authorized to make any
deduction from the amount payable to the holder of such depositary receipt from any amount
received by the custodian in respect of the U.S. Government Obligations or the specific
payment of principal of or interest on the U.S. Government Obligations evidenced by such
depositary receipt.



     “Voting Stock” of a Person means all classes of Capital Stock of such Person then
outstanding and normally entitled to vote in the election of directors, managers or trustees, as
applicable, of such Person.



     “Wholly Owned Subsidiary” means a Restricted Subsidiary, all of the Capital Stock of
which (other than directors’ qualifying shares) is owned by the Company or another Wholly Owned
Subsidiary.



     Section 1.02 Other Definitions.



	 	 	 	 	 
	 	 	Defined in
	Term	 	Section
	 
	 	 	 	 
	“Acceptable Commitment”

	 	 	4.10	 
	“Additional Restricted Notes”

	 	 	2.01	(b)
	“Agent Members”

	 	2.01(e)(iii)

	“Affiliate Transaction”

	 	 	4.11	 
	“Asset Sale Offer”

	 	 	4.10	 
	“Asset Sale Offer Amount”

	 	 	4.10	 
	“Asset Sale Offer Period”

	 	 	4.10	 
	“Asset Sale Purchase Date”

	 	 	4.10	 
	“Authenticating Agent”

	 	 	2.02	 
	“Authentication Order”

	 	 	2.02	 
	“Automatic Exchange”

	 	 	2.06	(e)
	“Automatic Exchange Date”

	 	 	2.06	(e)
	“Automatic Exchange Notice”

	 	 	2.06	(e)
	“Automatic Exchange Notice Date”

	 	 	2.06	(e)
	“Change of Control Offer”

	 	 	4.14	 
	“Change of Control Payment”

	 	 	4.14	(b)
	“Change of Control Payment Date”

	 	 	4.14	(b)
	“Clearstream”

	 	 	2.01	(b)
	“Covenant Defeasance”

	 	 	8.03	 
	“DTC”

	 	 	2.03	 
	“Euroclear”

	 	 	2.01	(b)
	“Event of Default”

	 	 	6.01	 
	“Excess Proceeds”

	 	 	4.10	(c)
	“Exchange Global Note”

	 	 	2.01	 
	“Global Notes”

	 	 	2.01	 
	“Institutional Accredited Investor Global Note”

	 	 	2.01	 
	“Institutional Accredited Investor Notes”

	 	 	2.01	 
	“Legal Defeasance”

	 	 	8.02	 
	“Note Register”

	 	 	2.03	 
	“Paying Agent”

	 	 	2.03	 
	“Registrar”

	 	 	2.03	 
	“Regulation S Global Note”

	 	 	2.01	(b)
	“Regulation S Notes”

	 	 	2.01	(b)






-25-









 






	 	 	 	 	 
	 	 	Defined in
	Term	 	Section
	 
	 	 	 	 
	“Resale Restriction Termination Date”

	 	 	2.06	(b)
	“Restricted Global Note”

	 	 	2.06	(e)
	“Restricted Payment”

	 	 	4.07	 
	“Restricted Period”

	 	 	2.01	 
	“Rule 144A Global Note”

	 	 	2.01	(b)
	“Rule 144A Notes”

	 	 	2.01	(b)
	“Successor Company”

	 	 	5.01	 
	“Unrestricted Global Note”

	 	 	2.06	(e)






     Section 1.03 Incorporation by Reference of Trust Indenture Act.



     Whenever this Indenture refers to a provision of the Trust Indenture Act, the provision is
incorporated by reference in and made a part of this Indenture.



     The following Trust Indenture Act terms used in this Indenture have the following meanings:




     “Commission” means the SEC;




     “indenture securities” means the Notes;




     “indenture security Holder” means a Holder of a Note;




     “indenture to be qualified” means this Indenture;




     “indenture trustee” or “institutional trustee” means the Trustee; and




     “obligor” on the Notes and the Subsidiary Guarantees means the Company and the
Subsidiary Guarantors, respectively, and any successor obligor upon the Notes and the
Subsidiary Guarantees, respectively.



     All other terms used in this Indenture that are defined by the Trust Indenture Act, defined by
Trust Indenture Act reference to another statute or defined by SEC rule under the Trust Indenture
Act have the meanings so assigned to them.



     Section 1.04 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 GAAP;




     (c) “or” is not exclusive;




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




     (e) “will” shall be interpreted to express a command;




     (f) provisions apply to successive events and transactions;



-26-









 






     (g) references to sections of, or rules under, the Securities Act shall be deemed to
include substitute, replacement or successor sections or rules adopted by the SEC from time
to time;




     (h) unless the context otherwise requires, any reference to an “Article,” “Section” or
“clause” refers to an Article, Section or clause, as the case may be, of this Indenture; and




     (i) the words “herein,” “hereof” and “hereunder” and other words of similar import
refer to this Indenture as a whole and not any particular Article, Section, clause or other
subdivision.



     Section
1.05 Acts of Holders.



     (a) Any request, demand, authorization, direction, notice, consent, waiver or other action
provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one
or more instruments of substantially similar tenor signed by such Holders in person or by an agent
duly appointed in writing. Except as herein otherwise expressly provided, such action shall become
effective when such instrument or instruments or record or both are delivered to the Trustee and,
where it is hereby expressly required, to the Company. Proof of execution of any such instrument
or of a writing appointing any such agent, or the holding by any Person of a Note, shall be
sufficient for any purpose of this Indenture and (subject to Section 7.01) conclusive in favor of
the Trustee and the Company, if made in the manner provided in this Section 1.05.



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



     (c) The ownership of Notes shall be proved by the Note Register.



     (d) Any request, demand, authorization, direction, notice, consent, waiver or other action by
the Holder of any Note shall bind every future Holder of the same Note and the Holder of every Note
issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, in
respect of any action taken, suffered or omitted by the Trustee or the Company in reliance thereon,
whether or not notation of such action is made upon such Note.



     (e) The Company may, in the circumstances permitted by the Trust Indenture Act, set a record
date for purposes of determining the identity of Holders entitled to give any request, demand,
authorization, direction, notice, consent, waiver or take any other act, or to vote on or consent
to any action by vote or consent authorized or permitted to be given or taken by Holders. If a
record date is fixed, then only those Persons who were Holders at such record date (or their duly
designated proxies), and only such Persons, shall be entitled to give any such request, demand,
authorization, direction, notice, consent, waiver or take any such other act or vote on or consent
to any such action by vote or consent, whether or not such Holders remain Holders after such record
date. Unless otherwise specified, if not set by the Company prior to the first solicitation of a
Holder made by any Person in respect of any such action, or in the case of any such vote, prior to
such vote, any such record date shall be the later of 30 days prior to the first solicitation of
such consent or the date of the most recent list of Holders furnished to the Trustee prior to such
solicitation.



     (f) Without limiting the foregoing, a Holder entitled to take any action hereunder with regard
to any particular Note may do so with regard to all or any part of the principal amount of such
Note or by one or more duly appointed agents, each of which may do so pursuant to such appointment
with regard to all or any part of such principal amount. Any notice given or action taken by a
Holder or its agents with regard to different parts of such principal amount pursuant to this
Section 1.05(f) shall have the same effect as if given or taken by separate Holders of each such
different part.



-27-









 




     (g) Without limiting the generality of the foregoing, a Holder, including DTC that is the
Holder of a Global Note, may make, give or take, by a proxy or proxies duly appointed in writing,
any request, demand, authorization, direction, notice, consent, waiver or other action provided in
this Indenture to be made, given or taken by Holders, and DTC that is the Holder of a Global Note
may provide its proxy or proxies to the beneficial owners of interests in any such Global Note
through such depositary’s standing instructions and customary practices.



     (h) The Company may fix a record date for the purpose of determining the Persons who are
beneficial owners of interests in any Global Note held by DTC entitled under the procedures of such
depositary to make, give or take, by a proxy or proxies duly appointed in writing, any request,
demand, authorization, direction, notice, consent, waiver or other action provided in this
Indenture to be made, given or taken by Holders. If such a record date is fixed, the Holders on
such record date or their duly appointed proxy or proxies, and only such Persons, shall be entitled
to make, give or take such request, demand, authorization, direction, notice, consent, waiver or
other action, whether or not such Holders remain Holders after such record date. No such request,
demand, authorization, direction, notice, consent, waiver or other action shall be valid or
effective if made, given or taken more than 120 days after such record date.



ARTICLE 2




THE NOTES



     Section
2.01 Form and Dating; Terms.



     (a) The aggregate principal amount of Notes that may be authenticated and delivered under this
Indenture is unlimited. The Initial Notes issued on the date hereof will be in an aggregate
principal amount of $325,000,000. In addition, the Company may issue, from time to time in
accordance with the provisions of this Indenture, Additional Notes (as provided herein) and
Exchange Notes. Furthermore, Notes may be authenticated and delivered upon registration of
transfer, exchange or in lieu of, other Notes pursuant to Section 2.02, 2.06, 2.10, 3.06 or 9.05,
in connection with a Asset Sale Offer pursuant to Section 4.10 or in connection with a Change of
Control Offer pursuant to Section 4.14.



     Notwithstanding anything to the contrary contained herein, the Company may not issue any
Additional Notes, unless at the time of such issuance, the Company would be in compliance with
Section 4.09.



     The Notes shall be known and designated as “8% Senior Notes due 2018” of the Company.



     With respect to any Additional Notes, the Company shall set forth in (x) a Board Resolution
and (y) (i) an Officers’ Certificate or (ii) one or more indentures supplemental hereto, the
following information:




     (1) the aggregate principal amount of such Additional Notes to be authenticated and
delivered pursuant to this Indenture; and




     (2) the issue price and the issue date of such Additional Notes, including the date
from which interest shall accrue.



     In authenticating and delivering Additional Notes, the Trustee shall be entitled to receive
and shall be fully protected in relying upon, in addition to the Opinion of Counsel and Officers’
Certificate required by Section 12.04, an Opinion of Counsel as to the due authorization,
execution, delivery, validity and enforceability of such Additional Notes.



     The Initial Notes, the Additional Notes and the Exchange Notes shall be considered
collectively as a single class for all purposes of this Indenture. Holders of the Initial Notes,
the Additional Notes and the Exchange Notes will vote and consent together on all matters to which
such Holders are entitled to vote or consent as one class, and none of the Holders of the Initial
Notes, the Additional Notes or the Exchange Notes shall have the right to vote or consent as a
separate class on any matter to which such Holders are entitled to vote or consent.



-28-









 





     A copy of the Board Resolutions of the Company establishing the terms of any Additional Notes,
certified by the Secretary or any Assistant Secretary of the Company, shall be delivered to the
Trustee at or prior to the delivery of the Officers’ Certificate or the indenture supplemental
hereto setting forth the terms of the Additional Notes.



     (b) The Initial Notes are being offered and sold by the Company pursuant to the Note Purchase
Agreement. The Initial Notes and any Additional Notes (if issued as Transfer Restricted Notes)
(the “Additional Restricted Notes”) will be resold initially only to (A) QIBs in reliance
on Rule 144A and (B) Non-U.S. Persons in reliance on Regulation S. Such Initial Notes and
Additional Restricted Notes may thereafter be transferred to, among others, QIBs, purchasers in
reliance on Regulation S and IAIs in accordance with Rule 501 of the Securities Act, in each case,
in accordance with the procedure described herein. Additional Notes offered after the date hereof
may be offered and sold by the Company from time to time pursuant to one or more purchase
agreements in accordance with applicable law.



     Initial Notes and Additional Restricted Notes offered and sold to QIBs in the United States of
America in reliance on Rule 144A (the “Rule 144A Notes”) shall be issued in the form of a
permanent global Note substantially in the form of Exhibit A, which is hereby incorporated
by reference and made a part of this Indenture, including appropriate legends as set forth in
Section 2.01(d) (the “Rule 144A Global Note”), deposited with the Trustee, as custodian for
DTC, duly executed by the Company and authenticated by the Trustee as hereinafter provided. The
Rule 144A Global Note may be represented by more than one certificate, if so required by DTC’s
rules regarding the maximum principal amount to be represented by a single certificate. The
aggregate principal amount of the Rule 144A Global Note may from time to time be increased or
decreased by adjustments made on the records of the Trustee, as custodian for DTC or its nominee,
as hereinafter provided.



     Initial Notes and any Additional Restricted Notes offered and sold outside the United States
of America (the “Regulation S Notes”) in reliance on Regulation S shall be issued in the
form of a permanent global Note, without interest coupons, substantially in the form of Exhibit A
including appropriate legends as set forth in Section 2.01(d) (the “Regulation S Global
Note”). Each Regulation S Global Note will be deposited upon issuance with, or on behalf of,
the Trustee as custodian for DTC in the manner described in this Article 2 for credit to the
respective accounts of the purchasers (or to such other accounts as they may direct), including,
but not limited to, accounts at Euroclear Bank S.A./N.V. (“Euroclear”) or Clearstream
Banking, société anonyme (“Clearstream”). Prior to the 40th day after the later of the
commencement of the offering of the Initial Notes and the Issue Date (such period through and
including such 40th day, the “Restricted Period”), interests in the Regulation S Global
Note may only be transferred to non-U.S. persons pursuant to Regulation S, unless exchanged for
interests in a Global Note in accordance with the transfer and certification requirements described
herein.



     Investors may hold their interests in the Regulation S Global Note through organizations other
than Euroclear or Clearstream that are participants in DTC’s system or directly through Euroclear
or Clearstream, if they are participants in such systems, or indirectly through organizations which
are participants in such systems. If such interests are held through Euroclear or Clearstream,
Euroclear and Clearstream will hold such interests in the applicable Regulation S Global Note on
behalf of their participants through customers’ securities accounts in their respective names on
the books of their respective depositaries. Such depositaries, in turn, will hold such interests
in the applicable Regulation S Global Note in customers’ securities accounts in the depositaries’
names on the books of DTC.



     The Regulation S Global Note may be represented by more than one certificate, if so required
by DTC’s rules regarding the maximum principal amount to be represented by a single certificate.
The aggregate principal amount of the Regulation S Global Note may from time to time be increased
or decreased by adjustments made on the records of the Trustee, as custodian for DTC or its
nominee, as hereinafter provided.



     Initial Notes and Additional Restricted Notes resold to IAIs (the “Institutional
Accredited Investor Notes”) in the United States of America shall be issued in the form of a
permanent global Note substantially in the form of Exhibit A including appropriate legends
as set forth in Section 2.01(d) (the “Institutional Accredited Investor Global Note”)
deposited with the Trustee, as custodian for DTC or its nominee, duly executed by the Company and
authenticated by the Trustee as hereinafter provided. The Institutional Accredited Investor Global
Note may be represented by more than one certificate, if so required by DTC’s rules regarding the
maximum principal amount to be



-29-









 




represented by a single certificate. The aggregate principal amount of the Institutional
Accredited Investor Global Note may from time to time be increased or decreased by adjustments made
on the records of the Trustee, as custodian for DTC or its nominee, as hereinafter provided.




     Exchange Notes exchanged for interests in the Rule 144A Notes, the Regulation S Notes and the
Institutional Accredited Investor Notes will be issued in the form of a permanent global Note,
substantially in the form of Exhibit B, which is hereby incorporated by reference and made
a part of this Indenture, deposited with the Trustee as hereinafter provided, including the
appropriate legend set forth in Section 2.01(d) (the “Exchange Global Note”). The Exchange
Global Note will be deposited upon issuance with, or on behalf of, the Trustee as custodian for DTC
or its nominee, duly executed by the Company and authenticated by the Trustee as hereinafter
provided. The Exchange Global Note may be represented by more than one certificate, if so required
by DTC’s rules regarding the maximum principal amount to be represented by a single certificate.



     The Rule 144A Global Note, the Regulation S Global Note, the Institutional Accredited Investor
Global Note and the Exchange Global Note are sometimes collectively herein referred to as the
“Global Notes.”



     The principal of (and premium, if any) and interest on the Notes shall be payable at the
office or agency of the Company maintained for such purpose or at such other office or agency of
the Company as may be maintained for such purpose pursuant to Section 2.03; provided, however,
that, at the option of the Company, each installment of interest may be paid by (i) check mailed to
addresses of the Persons entitled thereto as such addresses shall appear on the Note Register or
(ii) wire transfer to an account located in the United States maintained by the payee, subject to
the last sentence of this paragraph. Payments in respect of Notes represented by a Global Note
(including principal, premium, if any, and interest) will be made by wire transfer of immediately
available funds to the accounts specified by DTC. Payments in respect of Notes represented by
Definitive Notes (including principal, premium, if any, and interest) held by a Holder of at least
$1,000,000 aggregate principal amount of Notes represented by Definitive Notes will be made by wire
transfer to a U.S. dollar account maintained by the payee with a bank in the United States if such
Holder elects payment by wire transfer by giving written notice to the Trustee or the Paying Agent
to such effect designating such account no later than 15 days immediately preceding the relevant
due date for payment (or such other date as the Trustee may accept in its discretion).



     The Notes may have notations, legends or endorsements required by law, stock exchange rule or
usage, in addition to those set forth on Exhibit A and Exhibit B and in Section
2.01(d). The Company shall approve any notation, endorsement or legend on the Notes. Each Note
shall be dated the date of its authentication. The terms of the Notes set forth in Exhibit
A and Exhibit B are part of the terms of this Indenture and, to the extent applicable,
the Company, the Subsidiary Guarantors and the Trustee, by their execution and delivery of this
Indenture, expressly agree to be bound by such terms.



     (c) Denominations. The Notes shall be issuable only in fully registered form, without
coupons, and only in denominations of $2,000 and any integral multiple of $1,000 in excess thereof.



     (d) Restrictive Legends. Unless and until (i) an Initial Note or an Additional Note
issued as a Transfer Restricted Note is sold under an effective registration statement, (ii) an
Initial Note or an Additional Note issued as a Transfer Restricted Note is exchanged for an
Exchange Note in connection with an effective registration statement, in each case pursuant to the
Registration Rights Agreement or a similar agreement or (iii) an Initial Note or Additional Note is
exchanged for a Note that does not bear the Restricted Notes Legend in accordance with Section
2.06(e):




     (1) the Rule 144A Global Note, the Regulation S Global Note and the Institutional
Accredited Investor Global Note shall bear the following legend on the face thereof the
“Restricted Notes Legend”:




THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER
JURISDICTION. NEITHER THIS NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY
BE OFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE



-30-









 






DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION
IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS
NOTE, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF
ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES TO OFFER, SELL
OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION
DATE”) THAT IS [IN THE CASE OF RULE 144A NOTES: ONE YEAR] [IN
THE CASE OF REGULATION S NOTES: 40 DAYS] AFTER THE LATER OF THE ORIGINAL ISSUE
DATE HEREOF, THE ORIGINAL ISSUE DATE OF THE ISSUANCE OF ANY ADDITIONAL
NOTES AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF THE ISSUER
WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY
(A) TO THE ISSUER, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN
DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES
ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT
(“RULE 144A”), TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL
BUYER” AS DEFINED IN RULE 144A THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR
THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN
THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO
OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES
WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN
INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2),
(3) OR (7) UNDER THE SECURITIES ACT THAT IS AN INSTITUTIONAL ACCREDITED INVESTOR ACQUIRING
THE SECURITY FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF SUCH
AN INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL
AMOUNT OF THE SECURITIES OF $250,000, FOR INVESTMENT PURPOSES AND NOT WITH
A VIEW TO OR FOR OFFER OR SALE IN CONNECTION WITH ANY DISTRIBUTION IN
VIOLATION OF THE SECURITIES ACT, OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO
THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER (1) PURSUANT
TO CLAUSES (D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION
AND/ OR OTHER INFORMATION SATISFACTORY TO EACH OF
THEM, AND (2) IN EACH OF THE FOREGOING CASES, TO REQUIRE THAT A CERTIFICATE
OF TRANSFER IN THE FORM APPEARING ON THIS NOTE IS COMPLETED AND DELIVERED
BY THE TRANSFEROR TO THE TRUSTEE. THIS LEGEND WILL BE REMOVED UPON THE
REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. [IN THE
CASE OF REGULATION S NOTES: BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF
REPRESENTS THAT IT IS NOT A U.S. PERSON NOR IS IT PURCHASING FOR THE ACCOUNT
OF A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN
ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT.]




     (2) Each Global Note, whether or not an Initial Note, shall bear the following legend
on the face thereof:




UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW
YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT,
AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE
TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN.




TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN
PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR



-31-









 






THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL
SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET
FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.



     (e) Book-Entry Provisions.



     (i) This Section 2.01(e) shall apply only to Global Notes deposited with the Trustee, as
custodian for DTC.



     (ii) Each Global Note initially shall (x) be registered in the name of DTC or the nominee of
DTC, (y) be delivered to the Trustee as custodian for DTC and (z) bear legends as set forth in
Section 2.01(d). Transfers of a Global Note (but not a beneficial interest therein) will be
limited to transfers thereof in whole, but not in part, to the Depositary, its successors or their
respective nominees, except as set forth in Sections 2.01(e)(v) and 2.01(f). If a beneficial
interest in a Global Note is transferred or exchanged for a beneficial interest in another Global
Note, the Trustee will (x) record a decrease in the principal amount of the Global Note being
transferred or exchanged equal to the principal amount of such transfer or exchange and (y) record
a like increase in the principal amount of the other Global Note. Any beneficial interest in one
Global Note that is transferred to a Person who takes delivery in the form of an interest in
another Global Note, or exchanged for an interest in another Global Note, will, upon transfer or
exchange, cease to be an interest in such Global Note and become an interest in the other Global
Note and, accordingly, will thereafter be subject to all transfer and exchange restrictions, if
any, and other procedures applicable to beneficial interests in such other Global Note for as long
as it remains such an interest.



     (iii) Members of, or participants in, DTC (“Agent Members”) shall have no rights under
this Indenture with respect to any Global Note held on their behalf by DTC or by the Trustee as the
custodian of DTC or under such Global Note, and DTC may be treated by the Company, the Trustee and
any agent of the Company or the Trustee as the absolute owner of such Global Note for all purposes
whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee
or any agent of the Company or the Trustee from giving effect to any written certification, proxy
or other authorization furnished by DTC or impair, as between DTC and its Agent Members, the
operation of customary practices of DTC governing the exercise of the rights of a Holder of a
beneficial interest in any Global Note.



     (iv) In connection with any transfer of a portion of the beneficial interest in a Global Note
pursuant to Section 2.01(f) to beneficial owners who are required to hold Definitive Notes, the
Custodian shall reflect on its books and records the date and a decrease in the principal amount of
such Global Note in an amount equal to the principal amount of the beneficial interest in the
Global Note to be transferred, and the Company shall execute, and the Trustee shall authenticate
and make available for delivery, one or more Definitive Notes of like tenor and amount.



     (v) In connection with the transfer of an entire Global Note to beneficial owners pursuant to
Section 2.01(f), such Global Note shall be deemed to be surrendered to the Trustee for
cancellation, and the Company shall execute, and the Trustee shall authenticate and make available
for delivery, to each beneficial owner identified by DTC in exchange for its beneficial interest in
such Global Note, an equal aggregate principal amount of Definitive Notes of authorized
denominations.



     (vi) The Holder of a Global Note may grant proxies and otherwise authorize any person,
including Agent Members and persons that may hold interests through Agent Members, to take any
action which a Holder is entitled to take under this Indenture or the Notes.



     (vii) Any Holder of a Global Note shall, by acceptance of such Global Note, agree that
transfers of beneficial interests in such Global Note may be effected only through a book-entry
system maintained by (a) the Holder of such Global Note (or its agent) or (b) any holder of a
beneficial interest in such Global Note, and that ownership of a beneficial interest in such Global
Note shall be required to be reflected in a book entry.



-32-









 





     (f) Definitive Notes.



     (i) Except as provided below, owners of beneficial interests in Global Notes will not be
entitled to receive Definitive Notes. If required to do so pursuant to any applicable law or
regulation, beneficial owners may obtain Definitive Notes in exchange for their beneficial
interests in a Global Note upon written request in accordance with DTC’s and the Registrar’s
procedures. In addition, Definitive Notes shall be transferred to all beneficial owners in
exchange for their beneficial interests in a Global Note if (A) DTC notifies the Company that it is
unwilling or unable to continue as depositary for such Global Note or DTC ceases to be a clearing
agency registered under the Exchange Act, at a time when DTC is required to be so registered in
order to act as depositary, and in each case a successor depositary is not appointed by the Company
within 90 days of such notice or, (B) the Company in its sole discretion executes and delivers to
the Trustee and Registrar an Officers’ Certificate stating that such Global Note shall be so
exchangeable or (C) an Event of Default has occurred and is continuing and the Registrar has
received a request from DTC. In the event of the occurrence of any of the events specified in the
second preceding sentence or in clause (A), (B) or (C) of the preceding sentence, the Company shall
promptly make available to the Trustee a reasonable supply of Definitive Notes.



     (ii) Any Definitive Note delivered in exchange for an interest in a Global Note pursuant to
Section 2.01(e)(iii) or (iv) shall, except as otherwise provided by Section 2.06(d), bear the
Restricted Notes Legend.



     (iii) If a Definitive Note is transferred or exchanged for a beneficial interest in a Global
Note, the Trustee will (x) cancel such Definitive Note, (y) record an increase in the principal
amount of such Global Note equal to the principal amount of such transfer or exchange and (z) in
the event that such transfer or exchange involves less than the entire principal amount of the
canceled Certificated Note, the Company shall execute, and the Trustee shall authenticate and make
available for delivery, to the transferring Holder a new Definitive Note in authorized
denominations representing the principal amount not so transferred.



     (iv) If a Definitive Note is transferred or exchanged for another Definitive Note, (x) the
Trustee will cancel the Definitive Note being transferred or exchanged, (y) the Company shall
execute, and the Trustee shall authenticate and make available for delivery, one or more new
Definitive Notes in authorized denominations having an aggregate principal amount equal to the
principal amount of such transfer or exchange to the transferee (in the case of a transfer) or the
Holder of the canceled Definitive Note (in the case of an exchange), registered in the name of such
transferee or Holder, as applicable, and (z) if such transfer or exchange involves less than the
entire principal amount of the canceled Definitive Note, the Company shall execute, and the Trustee
shall authenticate and make available for delivery to the Holder thereof, one or more Definitive
Notes in authorized denominations having an aggregate principal amount equal to the untransferred
or unexchanged portion of the canceled Definitive Notes, registered in the name of the Holder
thereof.



     (v) Notwithstanding anything to the contrary in this Indenture, in no event shall a Definitive
Note be delivered upon exchange or transfer of a beneficial interest in the Temporary Regulation S
Global Note prior to the end of the Restricted Period.



     Section
2.02 Execution and Authentication.



     On the Issue Date, the Trustee shall, upon receipt of a Company Order (an “Authentication
Order”), authenticate and deliver the Initial Notes. In addition, at any time, from time to
time, the Trustee shall upon receipt of an Authentication Order authenticate and deliver any
Additional Notes and Exchange Notes for an aggregate principal amount specified in such
Authentication Order for such Additional Notes or Exchange Notes issued hereunder. At least one
Officer shall sign the Notes for the Company by manual or facsimile signature. If the Officer
whose signature is on a Note no longer holds that office at the time the Trustee authenticates the
Note, the Note shall be valid nevertheless.



     A Note shall not be valid until an authorized officer of the Trustee manually authenticates
the Note. The signature of the Trustee on a Note shall be conclusive evidence that such Note has
been duly and validly authenticated and issued under this Indenture. A Note shall be dated the
date of its authentication.



-33-









 





     At any time and from time to time after the execution and delivery of this Indenture, the
Trustee shall authenticate and make available for delivery: (1) Initial Notes for original issue
on the Issue Date in an aggregate principal amount of $325,000,000, (2) subject to the terms of
this Indenture, Additional Notes for original issue in an unlimited principal amount, (3) Exchange
Notes for issue only in an Exchange Offer pursuant to the Registration Rights Agreement or upon
resale under an effective Shelf Registration Statement, and only in exchange for Initial Notes or
Additional Notes of an equal principal amount and (4) under the circumstances set forth in Section
2.06(e), Initial Notes or Additional Notes in the form of an Unrestricted Global Note, in each case
upon a Company Order. Such Company Order shall specify whether the Notes will be in the form of
Definitive Notes or Global Notes, the amount of the Notes to be authenticated and the date on which
the original issue of Notes is to be authenticated and whether the Notes are to be Initial Notes,
Additional Notes or Exchange Notes. Notwithstanding anything herein to the contrary, prior to
authenticating any Note hereunder, the Trustee (or Authenticating Agent) shall receive an
Authentication Order from the Company.



     The Trustee may appoint an agent (the “Authenticating Agent”) reasonably acceptable to
the Company to authenticate the Notes. Any such instrument shall be evidenced by an instrument
signed by a Trust Officer, a copy of which shall be furnished to the Company. Unless limited by
the terms of such appointment, any such Authenticating Agent may authenticate Notes whenever the
Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes
authentication by the Authenticating Agent. An Authenticating Agent has the same rights as any
Registrar, Paying Agent or agent for service of notices and demands.



     In case the Company or any Subsidiary Guarantor, pursuant to Article 5 or Section 10.02, as
applicable, shall be consolidated or merged with or into or wind up into any other Person or shall
sell, assign, convey, transfer or otherwise dispose of all or substantially all of the properties
and assets of the Company and its Restricted Subsidiaries, taken as a whole, and the successor
Person resulting from such consolidation, or surviving such merger, or into which the Company or
any Subsidiary Guarantor shall have been merged or wound up into, or the Person which shall have
received a sale, assignment, conveyance, transfer, or other disposition as aforesaid, shall have
executed an indenture supplemental hereto with the Trustee pursuant to Article 5 or Section 10.02,
as applicable, any of the Notes authenticated or delivered prior to such consolidation, merger,
sale, assignment, conveyance, transfer, lease or other disposition may, from time to time, at the
request of the successor Person, be exchanged for other Notes executed in the name of the successor
Person with such changes in phraseology and form as may be appropriate, but otherwise in substance
of like tenor as the Notes surrendered for such exchange and of like principal amount; and the
Trustee, upon Company Order of the successor Person, shall authenticate and make available for
delivery Notes as specified in such order for the purpose of such exchange. If Notes shall at any
time be authenticated and delivered in any new name of a successor Person pursuant to this Section
2.02 in exchange or substitution for or upon registration of transfer of any Notes, such successor
Person, at the option of the Holders but without expense to them, shall provide for the exchange of
all Notes at the time outstanding for Notes authenticated and delivered in such new name.



     Section 2.03 Registrar and Paying Agent.



     The Company shall maintain an office or agency where Notes may be presented for registration
of transfer or for exchange (the “Registrar”) and an office or agency where Notes may be
presented for payment (the “Paying Agent”). The Registrar shall keep a register of the
Notes and of their transfer and exchange (the “Note Register”). The Company may have one
or more co-registrars and one or more additional paying agents. The term “Paying Agent” includes
any additional paying agent and the term “Registrar” includes any co-registrar.



     The Company shall enter into an appropriate agency agreement with any Registrar or Paying
Agent not a party to this Indenture, which shall incorporate the terms of the Trust Indenture Act
to the extent required thereunder. The agreement shall implement the provisions of this Indenture
that relate to such agent. The Company shall notify the Trustee of the name and address of each
such agent. If the Company fails to maintain a Registrar or Paying Agent, the Trustee shall act as
such and shall be entitled to appropriate compensation therefor pursuant to Section 7.07. The
Company or any of its Restricted Subsidiaries organized in the United States may act as Paying
Agent, Registrar or transfer agent.



-34-









 





     The Company initially appoints the Trustee as Registrar and Paying Agent for the Notes. The
Company may remove any Registrar or Paying Agent upon written notice to such Registrar or Paying
Agent and to the Trustee; provided, however, that no such removal shall become effective until (i)
acceptance of any appointment by a successor as evidenced by an appropriate agreement entered into
by the Company and such successor Registrar or Paying Agent, as the case may be, and delivered to
the Trustee or (ii) notification to the Trustee that the Trustee shall serve as Registrar or Paying
Agent until the appointment of a successor in accordance with clause (i) above. The Registrar or
Paying Agent may resign at any time upon written notice to the Company and the Trustee.



     The Company initially appoints The Depository Trust Company (“DTC”) to act as
Depositary with respect to the Global Notes.



     Section 2.04 Paying Agent to Hold Money in Trust.



     The Company shall require each Paying Agent (other than the Trustee) to agree in writing that
such Paying Agent shall hold in trust for the benefit of Holders of the Notes or the Trustee all
money held by such Paying Agent for the payment of principal of, premium, if any, or interest on
the Notes (whether such assets have been distributed to it by the Company or other obligors on the
Notes), shall notify the Trustee in writing of any default by the Company or any Subsidiary
Guarantor in making any such payment and shall during the continuance of any default by the Company
(or any other obligor upon the Notes) in the making of any payment in respect of the Notes, upon
the written request of the Trustee, forthwith deliver to the Trustee all sums held in trust by such
Paying Agent for payment in respect of the Notes together with a full accounting thereof. If the
Company or a Subsidiary of the Company acts as Paying Agent, it shall segregate the money held by
it as Paying Agent and hold it as a separate trust fund. The Company at any time may require a
Paying Agent (other than the Trustee) to pay all money held by it to the Trustee and to account for
any funds or assets disbursed by such Paying Agent. Upon payment to the Trustee, the Paying Agent
(if other than the Company or a Subsidiary of the Company) shall have no further liability for the
money delivered to the Trustee. Upon any bankruptcy, reorganization or similar proceeding with
respect to the Company, the Trustee shall serve as Paying Agent for the Notes.



     Section 2.05 Holder 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 Holders of the Notes and shall otherwise comply
with Trust Indenture Act Section 312(a). If the Trustee is not the Registrar, or to the extent
otherwise required under the Trust Indenture Act, the Company, on its own behalf and on behalf of
each of the Subsidiary Guarantors, shall furnish or cause the Registrar to furnish to the Trustee,
in writing at least five Business 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 Holders of the Notes and the Company shall
otherwise comply with Trust Indenture Act Section 312(a).



     Section 2.06 Transfer and Exchange.



     (a) General. A Holder may transfer a Note to another Person or exchange a Note for
another Note or Notes of any authorized denomination by presenting to the Trustee a written request
therefor stating the name of the proposed transferee or requesting such an exchange, accompanied by
any certification, opinion or other document required by this Section 2.06. The Trustee will
promptly register any transfer or exchange that meets the requirements of this Section 2.06 by
noting the same in the register maintained by the Trustee for the purpose, and no transfer or
exchange will be effective until it is registered in such register. The transfer or exchange of
any Note may only be made in accordance with this Section 2.06 and Section 2.01(e) and 2.01(f), as
applicable, and, in the case of a Global Note, the applicable rules and procedures of DTC,
Euroclear and Clearstream. The Trustee shall refuse to register any requested transfer or exchange
that does not comply with this
Section 2.06(a).



     (b) Transfers of Rule 144A Notes and Institutional Accredited Investor Notes. The
following provisions shall apply with respect to any proposed registration of transfer of a Rule
144A Note or an Institutional Accredited Investor Note or a beneficial interest therein prior to
the date which is one year after the later of the date of



-35-









 




its original issue and the last date on which the Company or any Affiliate of the Company was the
owner of such Notes (or any predecessor thereto) (the “Resale Restriction Termination
Date”):





     (i) a registration of transfer of a Rule 144A Note or an Institutional Accredited
Investor Note or a beneficial interest therein to a QIB shall be made upon the
representation of the transferee in the form as set forth on the reverse of the Note that it
is purchasing for its own account or an account with respect to which it exercises sole
investment discretion and that it and any such account is a “qualified institutional buyer”
within the meaning of Rule 144A, and is aware that the sale to it is being made in reliance
on Rule 144A and acknowledges that it has received such information regarding the Company as
the undersigned has requested pursuant to Rule 144A or has determined not to request such
information and that it is aware that the transferor is relying upon its foregoing
representations in order to claim the exemption from registration provided by Rule 144A;
provided that no such written representation or other written certification shall be
required in connection with the transfer of a beneficial interest in the Rule 144A Global
Note to a transferee in the form of a beneficial interest in that Rule 144A Global Note.




     (ii) a registration of transfer of a Rule 144A Note or an Institutional Accredited
Investor Note or a beneficial interest therein to an IAI shall be made upon receipt by the
Trustee or its agent of a certificate substantially in the form set forth in Section 2.07
from the proposed transferee and, if requested by the Company, the delivery of an opinion of
counsel, certification and/or other information satisfactory to the Company; provided that
no such written representation or other written certification shall be required in
connection with the transfer of a beneficial interest in the Institutional Accredited
Investor Note to a transferee in the form of a beneficial interest in that Institutional
Accredited Investor Note; and




     (iii) a registration of transfer of a Rule 144A Note or an Institutional Accredited
Investor Note or a beneficial interest therein to a Non-U.S. Person shall be made upon
receipt by the Trustee or its agent of a certificate substantially in the form set forth in
Section 2.08 from the proposed transferee and, if requested by the Company, the delivery of
an opinion of counsel, certification and/or other information satisfactory to the Company.



     (c) Transfers of Regulations S Notes. The following provisions shall apply with
respect to any proposed transfer of a Regulation S Note or a beneficial interest therein prior to
the expiration of the Restricted Period:




     (i) a transfer of a Regulation S Note or a beneficial interest therein to a QIB shall
be made upon the representation of the transferee, in the form of assignment on the reverse
of the certificate, that it is purchasing the Note for its own account or an account with
respect to which it exercises sole investment discretion and that it and any such account is
a “qualified institutional buyer” within the meaning of Rule 144A, is aware that the sale to
it is being made in reliance on Rule 144A and acknowledges that it has received such
information regarding the Company as the undersigned has requested pursuant to Rule 144A or
has determined not to request such information and that it is aware that the transferor is
relying upon its foregoing representations in order to claim the exemption from registration
provided by Rule 144A;




     (ii) a transfer of a Regulation S Note or a beneficial interest therein to an IAI shall
be made upon receipt by the Trustee or its agent of a certificate substantially in the form
set forth in Section 2.07 from the proposed transferee and, if requested by the Company or
the Trustee, the delivery of an opinion of counsel, certification and/or other information
satisfactory to each of them; and




     (iii) a transfer of a Regulation S Note or a beneficial interest therein to a Non-U.S.
Person shall be made upon receipt by the Trustee or its agent of a certificate substantially
in the form set forth in Section 2.08 from the proposed transferee and, if requested by the
Company, receipt by the Trustee or its agent of an opinion of counsel, certification and/or
other information satisfactory to the Company provided that no such written representation
or other written certification shall be required in connection with the transfer of a
beneficial interest in the Regulation S Global Note to a transferee in the form of a
beneficial interest in that Regulation S Note.



-36-









 





     After the expiration of the Restricted Period, interests in the Regulation S Note may be
transferred in accordance with applicable law without requiring the certification set forth in
Section 2.07, Section 2.08 or any additional certification.



     (d) Restricted Notes Legend. Upon the transfer, exchange or replacement of Notes not
bearing a Restricted Notes Legend, the Registrar shall deliver Notes that do not bear a Restricted
Notes Legend. Upon the transfer, exchange or replacement of Notes bearing a Restricted Notes
Legend, the Registrar shall deliver only Notes that bear a Restricted Notes Legend unless (i)
Initial Notes or Additional Notes are being exchanged for Exchange Notes in an Exchange Offer
pursuant to the Registration Rights Agreement, in which case the Exchange Notes shall not bear a
Restricted Notes Legend, (ii) an Initial Note or Additional Note is being transferred pursuant to
the Shelf Registration Statement or other effective registration statement, (iii) Initial Notes or
Additional Notes are being exchanged for Notes that do not bear the Restricted Notes Legend in
accordance with Section 2.06(e) or (iv) there is delivered to the Registrar an Opinion of Counsel
reasonably satisfactory to the Company and the Trustee to the effect that neither such legend nor
the related restrictions on transfer are required in order to maintain compliance with the
provisions of the Securities Act. Any Additional Notes sold in a registered offering shall not be
required to bear the Restricted Notes Legend.



     (e) Automatic Exchange of Beneficial Interests in a Restricted Global Note for Beneficial
Interests in an Unrestricted Global Note. Upon the Company’s satisfaction that the Restricted
Notes Legend shall no longer be required in order to maintain compliance with the Securities Act,
beneficial interests in a Restricted Global Note may be automatically exchanged into beneficial
interests in an Unrestricted Global Note without any action required by or on behalf of the Holder
(the “Automatic Exchange”) at any time on or after the date that is the 366th calendar day
after (A) with respect to the Notes issued on the Issue Date, the Issue Date or (B) with respect to
Additional Notes, if any, the issue date of such Additional Notes, or, in each case, if such day is
not a Business Day, on the next succeeding Business Day (the “Automatic Exchange Date”).
Upon the Company’s satisfaction that the Restricted Notes Legend shall no longer be required in
order to maintain compliance with the Securities Act, the Company may pursuant to the Applicable
Procedures (i) provide written notice to DTC at least fifteen (15) calendar days prior to the
Automatic Exchange Date, instructing DTC to direct the Depositary to exchange all of the
outstanding beneficial interests in a particular Restricted Global Note to the Unrestricted Global
Note, which the Company shall have previously otherwise made eligible for exchange with the DTC,
(ii) provide prior written notice (the “Automatic Exchange Notice”) to each Holder at such
Holder’s address appearing in the register of Holders at least 15 calendar days prior to the
Automatic Exchange Date (the “Automatic Exchange Notice Date”), which notice must include
(w) the Automatic Exchange Date, (x) the section of the Indenture pursuant to which the Automatic
Exchange shall occur, (y) the “CUSIP” number of the Restricted Global Note from which such Holder’s
beneficial interests will be transferred and the (z) “CUSIP” number of the Unrestricted Global Note
into which such Holder’s beneficial interests will be transferred, and (iii) on or prior to the
Automatic Exchange Date, deliver to the Trustee for authentication one or more Unrestricted Global
Notes, duly executed by the Company, in an aggregate principal amount equal to the aggregate
principal amount of Restricted Global Notes to be exchanged. At the Company’s request on no less
than five (5) calendar days’ notice prior to the Automatic Exchange Notice Date, the Trustee shall
deliver, in the Company’s name and at its expense, the Automatic Exchange Notice to each Holder at
such Holder’s address appearing in the register of Holders. Notwithstanding anything to the
contrary in this Section 2.06(e), during the fifteen (15) day period prior to the Automatic
Exchange Date, no transfers or exchanges other than pursuant to this Section 2.06(e) shall be
permitted without the prior written consent of the Company. As a condition to any Automatic
Exchange, the Company shall provide, and the Trustee shall be entitled to rely upon, an Officers’
Certificate in form reasonably acceptable to the Trustee to the effect that the Automatic Exchange
shall be effected in compliance with the Securities Act and that the restrictions on transfer
contained herein and in the Restricted Notes Legend shall no longer be required in order to
maintain compliance with the Securities Act and that the aggregate principal amount of the
particular Restricted Global Note is to be transferred to the particular Unrestricted Global Note
by adjustment made on the records of the Trustee, as custodian for the Depositary to reflect the
Automatic Exchange. Upon such exchange of beneficial interests pursuant to this Section 2.06(e),
the aggregate principal amount of the Global Notes shall be increased or decreased by adjustments
made on the records of the Trustee, as custodian for the Depositary, to reflect the relevant
increase or decrease in the principal amount of such Global Note resulting from the applicable
exchange. The Restricted Global Note from which beneficial interests are transferred pursuant to
an Automatic Exchange shall be canceled following the Automatic Exchange.



-37-









 





     (f) Retention of Written Communications. The Registrar shall retain copies of all
letters, notices and other written communications received pursuant to Section 2.01 or this Section
2.06. The Company shall have the right to inspect and make copies of all such letters, notices or
other written communications at any reasonable time upon the giving of reasonable prior written
notice to the Registrar.



     (g) Obligations with Respect to Transfers and Exchanges of Notes.



     (i) To permit registrations of transfers and exchanges, the Company shall, subject to the
other terms and conditions of this Article II, execute and the Trustee shall authenticate
Definitive Notes and Global Notes at the Registrar’s request.



     (ii) No service charge shall be made to a Holder for any registration of transfer or exchange,
but Holders shall be required to pay a sum sufficient to cover any transfer tax assessments or
similar governmental charge payable in connection therewith (other than any such transfer taxes,
assessments or similar governmental charges payable upon exchange or transfer pursuant to Sections
2.02, 2.06, 2.10, 3.06, 4.10, 4.14, or 9.05).



     (iii) The Company (and the Registrar) shall not be required to register the transfer of or
exchange of any Note (A) for a period beginning (1) 15 days before the mailing of a notice of an
offer to repurchase or redeem Notes and ending at the close of business on the day of such mailing
or (2) 15 days before an Interest Payment Date and ending on such Interest Payment Date or (B)
called for redemption, except the unredeemed portion of any Note being redeemed in part.



     (iv) Prior to the due presentation for registration of transfer of any Note, the Company, the
Trustee, the Paying Agent or the Registrar may deem and treat the person in whose name a Note is
registered as the owner of such Note for the purpose of receiving payment of principal of, premium,
if any, and (subject to paragraph 2 of the forms of Note attached hereto as Exhibit A)
interest on such Note and for all other purposes whatsoever, including without limitation the
transfer or exchange of such Note, whether or not such Note is overdue, and none of the Company,
the Trustee, the Paying Agent or the Registrar shall be affected by notice to the contrary.



     (v) Any Definitive Note delivered in exchange for an interest in a Global Note pursuant to
Section 2.01(f) shall, except as otherwise provided by Section 2.06(d), bear the Restricted Notes
Legend.



     (vi) All Notes issued upon any transfer or exchange pursuant to the terms of this Indenture
shall evidence the same debt and shall be entitled to the same benefits under this Indenture as the
Notes surrendered upon such transfer or exchange.



     (h) No Obligation of the Trustee.



     (i) The Trustee shall have no responsibility or obligation under any circumstances to any
beneficial owner of a Global Note, a member of, or a participant in, DTC or other Person, including
without limitation, with respect to the accuracy of the records of DTC or its nominee or of any
participant or member thereof, with respect to any ownership interest in the Notes or with respect
to the delivery to any participant, member, beneficial owner or other Person (other than DTC) of
any notice (including any notice of redemption or purchase) or the payment of any amount or
delivery of any Notes (or other security or property) under or with respect to such Notes. All
notices and communications to be given to the Holders and all payments to be made to Holders in
respect of the Notes shall be given or made only to or upon the order of the Holders (which shall
be DTC or its nominee in the case of a Global Note). The Trustee may rely and shall be fully
protected in relying upon information furnished by DTC with respect to its members, participants
and any beneficial owners.



     (ii) Notwithstanding anything contained herein to the contrary, neither the Trustee nor the
Registrar shall be responsible to monitor, determine, inquire or otherwise ascertain whether any
transfer complies with applicable law, including the registration provisions of or exemptions from
the Securities Act, applicable state securities laws, the rules of any Depositary, ERISA, the Code
or the Investment Company Act; provided that if a certificate is specifically required by the
express terms of this Section 2.05 to be delivered to the Trustee or the Registrar by a purchaser
or transferee of a Note, the Trustee or the Registrar, as the case may be, shall be under a duty to
receive



-38-









 




and examine the same to determine whether the certificate substantially complies on its face
with the express terms of this Indenture and shall promptly notify the party delivering the same if
such transfer does not comply with such terms.




     (iii) Affiliate Holders. By accepting a beneficial interest in a Global Note, any
Person that is an Affiliate of the Company agrees to give notice to the Company, the Trustee and
the Registrar of the acquisition and its Affiliate status.



     Section 2.07 Form of Certificate to be Delivered in Connection with Transfers to Institutional
Accredited Investors.


[Date]




MedAssets, Inc.

c/o Wells Fargo Bank, National Association

7000 Central Parkway NE, Suite 550

Atlanta, GA 30328

Attention: Corporate Trust Services- MedAssets, Inc.



Ladies and Gentlemen:




     This certificate is delivered to request a transfer of $[_________] principal amount of the 8%
Senior Notes due 2018 (the “Notes”) of MedAssets, Inc. (the “Company”) which are
held in the form of a [Rule 144A Global Noe] [Reg S Global Note] [Definitive Note] to effect a
transfer of the Notes in exchange for an equivalent beneficial interest in an Institutional
Accredited Investor Notes.



     Upon transfer, the Notes would be registered in the name of the new beneficial owner as
follows:



     Name:



     Address:



     Taxpayer ID

     Number:



     The undersigned represents and warrants to you that:



     1. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or
(7) under the Securities Act of 1933, as amended (the “Securities Act”)) purchasing for our
own account or for the account of such an institutional “accredited investor” at least $250,000
principal amount of the Notes, and we are acquiring the Notes not with a view to, or for offer or
sale in connection with, any distribution in violation of the Securities Act. We have such
knowledge and experience in financial and business matters as to be capable of evaluating the
merits and risk of our investment in the Notes and we invest in or purchase securities similar to
the Notes in the normal course of our business. We and any accounts for which we are acting are
each able to bear the economic risk of our or its investment.



     2. We understand that the Notes have not been registered under the Securities Act and, unless
so registered, may not be sold except as permitted in the following sentence. We agree on our own
behalf and on behalf of any investor account for which we are purchasing Notes to offer, sell or
otherwise transfer such Notes prior to the date that is one year after the later of the date of
original issue and the last date on which the Company or any affiliate of the Company was the owner
of such Notes (or any predecessor thereto) (the “Resale Restriction Termination Date”) only
(a) to the Company or any Subsidiary thereof, (b) pursuant to an effective registration statement
under the Securities Act, (c) in a transaction complying with the requirements of Rule 144A under
the Securities Act, to a



-39-









 




person we reasonably believe is a “qualified institutional buyer” under Rule 144A of the
Securities Act (a “QIB”) that is purchasing for its own account or for the account of a QIB
and to whom notice is given that the transfer is being made in reliance on Rule 144A, (d) pursuant
to offers and sales to non-U.S. persons that occur outside the United States within the meaning of
Regulation S under the Securities Act, (e) to an institutional “accredited investor” within the
meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act that is purchasing for its own
account or for the account of such an institutional “accredited investor,” in each case in a
minimum principal amount of Notes of $250,000 for investment purposes and not with a view to or for
offer or sale in connection with any distribution in violation of the Securities Act or (f)
pursuant to any other available exemption from the registration requirements of the Securities Act,
subject in each of the foregoing cases to any requirement of law that the disposition of our
property or the property of such investor account or accounts be at all times within our or their
control and in compliance with any applicable state securities laws. The foregoing restrictions on
resale will not apply subsequent to the Resale Restriction Termination Date. If any resale or
other transfer of the Notes is proposed to be made pursuant to clause (e) above prior to the Resale
Restriction Termination Date, the transferor shall deliver a letter from the transferee
substantially in the form of this letter to the Company and the Trustee, which shall provide, among
other things, that the transferee is an institutional “accredited investor” (within the meaning of
Rule 501(a)(1), (2), (3) or (7) under the Securities Act) and that it is acquiring such Notes for
investment purposes and not for distribution in violation of the Securities Act. Each purchaser
acknowledges that the Company and the Trustee reserve the right prior to any offer, sale or other
transfer prior to the Resale Termination Date of the Notes pursuant to clause (d), (e) or (f) above
to require the delivery of an opinion of counsel, certifications and/or other information
satisfactory to the Company and the Trustee.




     3. We [are][are not] an Affiliate of the Company.



TRANSFEREE:




BY:




     Section 2.08 Form of Certificate to be Delivered in Connection with Transfers Pursuant to
Regulation S.


[Date]




MedAssets, Inc.

c/o Wells Fargo Bank, National Association

7000 Central Parkway NE, Suite 550

Atlanta, GA 30328

Attention: Corporate Trust Services- MedAssets, Inc.





	 	Re:  	 	 MedAssets, Inc. (the “Company”)

8% Senior Notes due 2018 (the “Notes”)




Ladies and Gentlemen:




     In connection with our proposed sale of $[_________] aggregate principal amount of the [[Rule
144A Note] [Institutional Accredited Investor Note]] in exchange for an equivalent beneficial
interest in a Regulation S Note, we confirm that such sale has been effected pursuant to and in
accordance with Regulation S under the United States Securities Act of 1933, as amended (the
“Securities Act”), and, accordingly, we represent that:




     (a) the offer of the Notes was not made to a person in the United States;




     (b) either (i) at the time the buy order was originated, the transferee was outside the
United States or we and any person acting on our behalf reasonably believed that the
transferee was outside the United States or (ii) the transaction was executed in, on or
through the facilities of a designated off-shore



-40-









 






securities market and neither we nor any person acting on our behalf knows that the
transaction has been pre-arranged with a buyer in the United States;




     (c) no directed selling efforts have been made in the United States in contravention of
the requirements of Rule 903(a)(2) or Rule 904(a)(2) of Regulation S, as applicable; and




     (d) the transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act.



     In addition, if the sale is made during a restricted period and the provisions of Rule
903(b)(2), Rule 903(b)(3) or Rule 904(b)(1) of Regulation S are applicable thereto, we confirm that
such sale has been made in accordance with the applicable provisions of Rule 903(b)(2), Rule
903(b)(3) or Rule 904(b)(1), as the case may be.



     We also hereby certify that we [are][are not] an Affiliate of the Company and, to our
knowledge, the transferee of the Notes [is][is not] an Affiliate of the Company.



     You and the Company are entitled to rely upon this letter and are irrevocably authorized to
produce this letter or a copy hereof to any interested party in any administrative or legal
proceedings or official inquiry with respect to the matters covered hereby. Terms used in this
certificate have the meanings set forth in Regulation S.



	 	 	 	 	 
	 	Very truly yours,



[Name of Transferor]

 	 
	 	By:  	 	 
	 	 	Authorized Signature 	 
	 	 	 	 
	 




     Section
2.09 Replacement Notes.



     If any mutilated Note is surrendered to the Trustee, the Registrar or the Company and the
Trustee receives evidence to its satisfaction of the ownership and destruction, loss or theft of
any Note, the Company shall issue and the Trustee, upon receipt of an Authentication Order, shall
authenticate a replacement Note if the Trustee’s requirements are met. If required by the Trustee
or the Company, an indemnity bond must be supplied by the Holder that is sufficient in the judgment
of the Trustee and the Company to protect the Company, the Trustee, any Agent and any
authenticating agent from any loss that any of them may suffer if a Note is replaced. The Company
and the Trustee may charge for their expenses in replacing a Note.



     Every replacement Note is a contractual obligation of the Company and shall be entitled to all
of the benefits of this Indenture equally and proportionately with all other Notes duly issued
hereunder.



     Section
2.10 Outstanding Notes.



     The Notes outstanding at any time are all the Notes authenticated by the Trustee except for
those canceled by it, those delivered to it for cancellation, those reductions in the interest in a
Global Note effected by the Trustee in accordance with the provisions hereof, and those described
in this Section 2.08 as not outstanding. Except as set forth in Section 2.09, a Note does not
cease to be outstanding because the Company or an Affiliate of the Company holds the Note.



     If a Note is replaced pursuant to Section 2.07, it ceases to be outstanding unless the Trustee
receives proof satisfactory to it that the replaced Note is held by a protected purchaser.



     If the principal amount of any Note is considered paid under Section 4.01, it ceases to be
outstanding and interest on it ceases to accrue.




-41-











 





     If the Paying Agent (other than the Company, a Subsidiary or an Affiliate of any thereof)
holds, on a redemption date or maturity date, money sufficient to pay Notes payable on that date,
then on and after that date such Notes shall be deemed to be no longer outstanding and shall cease
to accrue interest.



     Section
2.11 Treasury Notes.




     In determining whether the Holders of the required principal amount of Notes have concurred in
any direction, waiver or consent, Notes owned by the Company, or by any Affiliate of the Company,
shall be considered as though not outstanding, except that for the purposes of determining whether
the Trustee shall be protected in relying on any such direction, waiver or consent, only Notes that
a Trust Officer of the Trustee knows are so owned shall be so disregarded. Notes so owned that
have been pledged in good faith shall not be disregarded if the pledgee establishes to the
satisfaction of the Trustee the pledgee’s right to deliver any such direction, waiver or consent
with respect to the Notes and that the pledgee is not the Company or any obligor upon the Notes or
any Affiliate of the Company or of such other obligor.



     Section
2.12 Temporary Notes.




     Until certificates representing Notes are ready for delivery, the Company may prepare and the
Trustee, upon receipt of an Authentication Order, shall authenticate temporary Notes. Temporary
Notes shall be substantially in the form of certificated Notes but may have variations that the
Company considers appropriate for temporary Notes and as shall be reasonably acceptable to the
Trustee. Without unreasonable delay, the Company shall prepare and the Trustee shall authenticate
definitive Notes in exchange for temporary Notes.



     Holders and beneficial holders, as the case may be, of temporary Notes shall be entitled to
all of the benefits accorded to Holders, or beneficial holders, respectively, of Notes under this
Indenture.



     Section
2.13 Cancellation.




     The Company at any time may deliver Notes to the Trustee for cancellation. The Registrar and
Paying Agent shall forward to the Trustee any Notes surrendered to them for registration of
transfer, exchange or payment. The Trustee or, at the direction of the Trustee, the Registrar or
the Paying Agent and no one else shall cancel all Notes surrendered for registration of transfer,
exchange, payment, replacement or cancellation and shall destroy cancelled Notes in accordance with
its customary procedures (subject to the record retention requirement of the Exchange Act).
Certification of the destruction of all cancelled Notes shall be delivered to the Company. The
Company may not issue new Notes to replace Notes that it has paid or that have been delivered to
the Trustee for cancellation.



     Section
2.14 Defaulted Interest.




     If the Company defaults in a payment of interest on the Notes, it shall pay the defaulted
interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted
interest to the Persons who are Holders on a subsequent special record date, in each case at the
rate provided in the Notes and in Section 4.01. The Company shall notify the Trustee in writing of
the amount of defaulted interest proposed to be paid on each Note and the date of the proposed
payment, and at the same time the Company shall deposit with the Trustee an amount of money equal
to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make
arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed
payment, such money when deposited to be held in trust for the benefit of the Persons entitled to
such defaulted interest as provided in this Section 2.14. The Company shall fix or cause to be
fixed each such special record date and payment date; provided that no such special record date
shall be less than 10 days prior to the related payment date for such defaulted interest. The
Company shall promptly notify the Trustee of such special record date. At least 15 days before the
special record date, the Company (or, upon the written request of the Company, the Trustee in the
name and at the expense of the Company) shall mail or cause to be mailed, first-class postage
prepaid, to each Holder a notice at his or her address as it appears in the Note Register that
states the special record date, the related payment date and the amount of such interest to be
paid.



-42-









 





     Subject to the foregoing provisions of this Section 2.14 and for greater certainty, each Note
delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of
any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were
carried by such other Note.



     Section
2.15 CUSIP Numbers.




     The Company in issuing the Notes may use CUSIP numbers (if then generally in use) and, if so,
the Trustee may 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 Notes or as contained in any notice of redemption and that reliance may be
placed only on the other identification numbers printed on the Notes, and any such redemption shall
not be affected by any defect in or omission of such numbers. The Company will as promptly as
practicable notify the Trustee in writing of any change in the CUSIP numbers.



ARTICLE 3




REDEMPTION



     Section
3.01 Notices to Trustee.




     If the Company elects to redeem Notes pursuant to Section 3.07, it shall furnish to the
Trustee, at least 5 Business Days (or such shorter time period with the consent of the Trustee)
before notice of redemption is required to be mailed or caused to be mailed to Holders pursuant to
Section 3.03 but not more than 60 days before a redemption date, an Officers’ Certificate setting
forth (i) the paragraph or subparagraph of such Note and/or Section of this Indenture pursuant to
which the redemption shall occur, (ii) the redemption date, (iii) the principal amount of the Notes
to be redeemed and (iv) the redemption price.



     Section
3.02 Selection of Notes to Be Redeemed or Purchased.




     If less than all of the Notes are to be redeemed or purchased in an offer to purchase at any
time, the Trustee shall select the Notes to be redeemed or purchased (a) if the Notes are listed on
any national securities exchange, in compliance with the requirements of the principal national
securities exchange on which the Notes are listed or (b) on a pro rata basis or, to the extent that
selection on a pro rata basis is not practicable, by lot or by such other method the Trustee shall
deem fair and appropriate in accordance with the procedures of DTC. In the event of partial
redemption or purchase by lot, the particular Notes to be redeemed or purchased shall be selected,
unless otherwise provided herein, not less than 30 nor more than 60 days prior to the redemption
date by the Trustee from the outstanding Notes not previously called for redemption or purchase.



     The Trustee shall promptly notify the Company in writing of the Notes selected for redemption
or purchase and, in the case of any Note selected for partial redemption or purchase, the principal
amount thereof to be redeemed or purchased. Notes and portions of Notes selected shall be in
amounts of $2,000 or whole multiples of $1,000 on excess thereof; no Notes of $2,000 or less can be
redeemed in part, except that if all of the Notes of a Holder are to be redeemed or purchased, the
entire outstanding amount of Notes held by such Holder, even if not $2,000 or a multiple of $1,000
in excess thereof, shall be redeemed or purchased. Except as provided in the preceding sentence,
provisions of this Indenture that apply to Notes called for redemption or purchase also apply to
portions of Notes called for redemption or purchase.



     Section
3.03 Notice of Redemption.




     (a) Subject to Section 3.09, the Company shall mail or cause to be mailed by first-class mail,
postage prepaid, notices of redemption at least 30 days but not more than 60 days before the
redemption date to each Holder of Notes to be redeemed at such Holder’s registered address or
otherwise in accordance with the procedures of DTC, except that redemption notices may be mailed
more than 60 days prior to a redemption date if the notice is issued in connection with Article 8
or Article 11. Except as set forth in Section 4.14, notices of redemption may not be conditional.



-43-









 





     The notice shall identify the Notes to be redeemed and shall state:




     (i) the redemption date;




     (ii) the redemption price;




     (iii) if any Note is to be redeemed in part only, the portion of the principal amount
of that Note that is to be redeemed and that, after the redemption date upon surrender of
such Note, a new Note or Notes in principal amount equal to the unredeemed portion of the
original Note representing the same indebtedness to the extent not redeemed will be issued
in the name of the Holder of the Notes upon cancellation of the original Note;




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




     (v) that Notes called for redemption must be surrendered to the Paying Agent to collect
the redemption price;




     (vi) that, unless the Company defaults in making such redemption payment, interest on
Notes called for redemption ceases to accrue on and after the redemption date;




     (vii) the paragraph or subparagraph of the Notes and/or Section of this Indenture
pursuant to which the Notes called for redemption are being redeemed; and




     (viii) that no representation is made as to the correctness or accuracy of the CUSIP
number, if any, listed in such notice or printed on the Notes.



     (b) At the Company’s request, the Trustee shall give the notice of redemption in the Company’s
name and at the Company’s expense; provided that the Company shall have delivered to the Trustee,
at least 5 Business Days before notice of redemption is required to be mailed or caused to be
mailed to Holders pursuant to this Section 3.03 (unless a shorter notice shall be agreed to by the
Trustee), an Officers’ Certificate requesting that the Trustee give such notice and setting forth
the information to be stated in such notice as provided in Section 3.03(a).



     Section
3.04 Effect of Notice of Redemption.




     Once notice of redemption is mailed in accordance with Section 3.03, Notes called for
redemption become irrevocably due and payable on the redemption date at the redemption price
(except in connection with a conditional redemption pursuant to Section 4.14). The notice, if
mailed in a manner herein provided, shall be conclusively presumed to have been given, whether or
not the Holder receives such notice. In any case, failure to give such notice by mail or any
defect in the notice to the Holder of any Note designated for redemption in whole or in part shall
not affect the validity of the proceedings for the redemption of any other Note. Subject to
Section 3.05, on and after the redemption date, interest ceases to accrue on Notes or portions of
Notes called for redemption.



     Section
3.05 Deposit of Redemption or Purchase Price.




     (a) Prior to 10:00 a.m. (New York City time) on the redemption or purchase date, the Company
shall deposit with the Trustee or with the Paying Agent money sufficient to pay the redemption or
purchase price of and accrued and unpaid interest (including Additional Interest, if any) on all
Notes to be redeemed or purchased on that date. The Trustee or the Paying Agent shall promptly
return to the Company any money deposited with the Trustee or the Paying Agent by the Company in
excess of the amounts necessary to pay the redemption price of, and accrued and unpaid interest on,
all Notes to be redeemed or purchased.



     (b) If the Company complies with the provisions of Section 3.05(a), on and after the
redemption or purchase date, interest shall cease to accrue on the Notes or the portions of Notes
called for redemption or purchase. If the optional redemption date is on or after a Record Date
and on or before the related Interest Payment Date, the accrued and unpaid interest, if any, shall
be paid to the Person in whose name the Note is registered at the close of



-44-









 




business, on such Record Date, and no Additional Interest shall be payable to Holders whose
Notes shall be subject to redemption by the Company. If any Note called for redemption or purchase
shall not be so paid upon surrender for redemption or purchase because of the failure of the
Company to comply with Section 3.05(a), interest shall be paid on the unpaid principal, from the
redemption or purchase date until such principal is paid, and to the extent lawful on any interest
accrued to the redemption or purchase date not paid on such unpaid principal, in each case at the
rate provided in the Notes and in Section 4.01.




     Section
3.06 Notes Redeemed or Purchased in Part.




     Upon surrender of a Note that is redeemed or purchased in part, the Company shall issue and
the Trustee shall authenticate for the Holder at the expense of the Company a new Note equal in
principal amount to the unredeemed or unpurchased portion of the Note surrendered representing the
same indebtedness to the extent not redeemed or purchased; provided that each new Note will be in a
principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. It is understood
that, notwithstanding anything in this Indenture to the contrary, only an Authentication Order and
not an Opinion of Counsel or Officers’ Certificate is required for the Trustee to authenticate such
new Note.



     Section
3.07 Optional Redemption.




     (a) At any time prior to November 15, 2014, upon not less than 30 nor more than 60 days’ prior
notice mailed by first-class mail to each Holder’s registered address, the Company may redeem all
or part of the Notes at a redemption price equal to 100% of the principal amount thereof plus the
Applicable Premium as of, plus accrued and unpaid interest, if any, to, the redemption date
(subject to the right of Holders on the relevant Record Date to receive interest due on the
relevant Interest Payment Date).



     (b) At any time prior to November 15, 2013, the Company may, at its option, redeem up to 35%
of the aggregate principal amount of Notes issued by it (calculated after giving effect to any
issuance of Additional Notes) with the Net Cash Proceeds of one or more Equity Offerings at a
redemption price of 108% of the principal amount thereof, plus accrued and unpaid interest, if any,
to the redemption date (subject to the right of Holders on the relevant Record Date to receive
interest due on the relevant Interest Payment Date); provided that:




     (1) at least 65% of the aggregate original principal amount of Notes issued under this
Indenture (calculated after giving effect to any issuance of Additional Notes) remains
outstanding immediately after each such redemption; and




     (2) the redemption occurs within 60 days after the closing of such Equity Offering.



     (c) Except pursuant to clause (a) or (b) of this Section 3.07, the Notes will not be
redeemable at the Company’s option prior to November 15, 2014.



     (d) On and after November 15, 2014, the Company may, at its option, redeem all or, from time
to time, a part of the Notes upon not less than 30 nor more than 60 days’ notice, at the following
redemption prices (expressed as a percentage of principal amount of the Notes to be redeemed) plus
accrued and unpaid interest and Additional Interest on the Notes, if any, to the applicable
redemption date (subject to the right of Holders on the relevant Record Date to receive interest
due on the relevant Interest Payment Date), if redeemed during the twelve-month period beginning on
September 15 of the years indicated below:



	 	 	 
	Year	 	Percentage
	2014
	 	104.000%
	2015
	 	102.000%
	2016 and thereafter
	 	100.000%






     (e) Any redemption pursuant to this Section 3.07 shall be made pursuant to the provisions of
Sections 3.01 through 3.06.



-45-









 





     (f) If the optional redemption date is on or after a Record Date and on or before the related
Interest Payment Date, the accrued and unpaid interest, if any, will be paid to the Person in whose
name the Note is registered at the close of business, on such Record Date, and no Additional
Interest will be payable to Holders whose Notes will be subject to redemption by the Company.



     (g) Notice of any redemption upon any Equity Offering may be given prior to the completion
thereof, and any such redemption or notice may, at the Company’s discretion, be subject to one or
more conditions precedent, including, but not limited to, completion of the related Equity
Offering.



     Section 3.08 Mandatory Redemption.




The Company is not required to make any mandatory redemption or sinking fund payments with
respect to the Notes.



     Section
3.9 Offers to Repurchase by Application of Excess Proceeds.




     (a) In the event that, pursuant to Section 4.10, the Company shall be required to commence an
Asset Sale Offer, they shall follow the procedures specified below.



     (b) Upon the commencement of an Asset Sale Offer, the Company shall send, by first-class mail,
a notice to each of the Holders, with a copy to the Trustee. The notice shall contain all
instructions and materials necessary to enable such Holders to tender Notes pursuant to the Asset
Sale Offer. The Asset Sale Offer shall be made to all Holders and, to the extent required by the
terms of other Pari Passu Indebtedness, holders of Pari Passu Indebtedness. The notice, which
shall govern the terms of the Asset Sale Offer, shall state:




     (i) that the Asset Sale Offer is being made pursuant to this Section 3.09 and Section
4.10 and the length of time the Asset Sale Offer shall remain open;




     (ii) the Asset Sale Offer Amount, the purchase price and the Asset Sale Purchase Date;




     (iii) that any Note not tendered or accepted for payment shall continue to accrue
interest;




     (iv) that, unless the Company defaults in making such payment, any Note accepted for
payment pursuant to the Asset Sale Offer shall cease to accrue interest after the Asset Sale
Purchase Date;




     (v) that Holders electing to have a Note purchased pursuant to an Asset Sale Offer may
elect to have Notes purchased in amounts of $2,000 or in integral multiples of $1,000 in
excess thereof only;




     (vi) that Holders electing to have a Note purchased pursuant to any Asset Sale Offer
shall be required to surrender the Note, with the form entitled “Option of Holder to Elect
Purchase” attached to the Note completed, or transfer by book-entry transfer, to the
Company, the Depositary, if appointed by the Company, or a Paying Agent at the address
specified in the notice at least three days before the Asset Sale Purchase Date;




     (vii) that Holders shall be entitled to withdraw their election if the Company, the
Depositary or the Paying Agent, as the case may be, receives, not later than the expiration
of the Asset Sale Offer Period, a telegram, facsimile transmission or letter setting forth
the name of the Holder, the principal amount of the Note the Holder delivered for purchase
and a statement that such Holder is withdrawing his election to have such Note purchased;




     (viii) that, if the aggregate principal amount of Notes and Pari Passu Indebtedness
surrendered by the holders or lenders thereof exceeds the Asset Sale Offer Amount, the
Trustee shall select the Notes, and the trustee or agent for the Pari Passu Indebtedness
shall select the Pari Passu Indebtedness, to be purchased on a pro rata basis based on the
accreted value or principal amount of the Notes or such Pari Passu Indebtedness tendered
(with such adjustments as may be deemed appropriate by the Trustee so that only



-46-









 






Notes in denominations of $2,000 or in integral multiples of $1,000 in excess thereof,
shall be purchased); and




     (ix) that Holders whose Notes were purchased only in part shall be issued new Notes
equal in principal amount to the unpurchased portion of the Notes surrendered representing
the same indebtedness to the extent not repurchased.



     Other than as specifically provided in this Section 3.09 or Section 4.10, any purchase
pursuant to this Section 3.09 shall be made pursuant to the applicable provisions of Sections 3.01
through 3.06.



ARTICLE 4




COVENANTS



     Section
4.01 Payment of Notes.




     The Company shall pay or cause to be paid the principal of, premium, if any, Additional
Interest, if any, and interest on the Notes on the dates and in the manner provided in the Notes.
Principal, premium, if any, Additional Interest, if any, and interest shall be considered paid on
the date due if the Paying Agent, if other than the Company or a Subsidiary, holds as of noon
Eastern Time on the due date money deposited by the Company in immediately available funds and
designated for and sufficient to pay all principal, premium, if any, Additional Interest, if any,
and interest then due.



     The Company shall pay all Additional Interest, if any, in the same manner on the dates and in
the amounts set forth in the Registration Rights Agreement.



     The Company shall pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal at the rate equal to the then applicable interest rate on the
Notes to the extent lawful; it shall pay interest (including post-petition interest in any
proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest
(without regard to any applicable grace period) at the same rate to the extent lawful.



     Section
4.02  Maintenance of Office or Agency.




     The Company shall maintain an office or agency (which may be an office of the Trustee or an
affiliate of the Trustee, Registrar or co-registrar) where Notes may be surrendered for
registration of transfer or for exchange and where notices and demands to or upon the Company in
respect of the Notes and this Indenture may be served. The Company shall give prompt written
notice to the Trustee of the location, and any change in the location, of such office or agency.
If at any time the Company shall fail to maintain any such required office or agency or shall fail
to furnish the Trustee with the address thereof, such presentations, surrenders, notices and
demands may be made or served at the Corporate Trust Office of the Trustee.



     The Company may also from time to time designate one or more other offices or agencies where
the Notes may be presented or surrendered for any or all such purposes and may from time to time
rescind such designations. The Company shall give prompt written notice to the Trustee of any such
designation or rescission and of any change in the location of any such other office or agency.



     The Company hereby designates the Corporate Trust Office of the Trustee as one such office or
agency of the Company in accordance with Section 2.03.



     Section
4.03  Reports and Other Information.




     Notwithstanding that the Company is subject to the reporting requirements of Section 13 or
15(d) of the Exchange Act or is otherwise required to report on an annual and quarterly basis on
forms provided for such annual and quarterly reporting pursuant to rules and regulations
promulgated by the SEC, so long as the Notes are out-



-47-









 




standing (unless defeased in a legal defeasance), the Company shall (a) file with the SEC (unless
the SEC will not accept such filing), and (b) make available to the Trustee and, upon written
request, a Holder of the Notes, without cost to any Holder, from and after the Issue Date:





     (1) within the time periods specified by the Exchange Act (including all applicable
extension periods), an annual report on Form 10-K (or any successor or comparable form)
containing the information required to be contained therein (or required in such successor
or comparable form);




     (2) within the time periods specified by the Exchange Act (including all applicable
extension periods), a quarterly report on Form 10-Q (or any successor or comparable form);
and




     (3) all current reports that would be required to be filed with the SEC on Form 8-K (or
any successor or comparable form).



     In the event that the Company is not permitted to file such reports with the SEC pursuant to
the Exchange Act, the Company will nevertheless make available such Exchange Act reports to the
Trustee and the Holders of the Notes as if the Company were subject to the reporting requirements
of Section 13 or 15(d) of the Exchange Act within the time periods specified by the Exchange Act
(including all applicable extension periods), which requirement may be satisfied by posting such
reports on its website within the time periods specified by this Section 4.03. Notwithstanding the
foregoing, the availability of the reports referred to in paragraphs (1) through (3) above on the
SEC’s Electronic Data Gathering, Analysis and Retrieval system (or any successor system, including
the SEC’s Interactive Data Electronic Application system) and the Company’s website within the time
periods specified above will be deemed to satisfy the above delivery obligation.



     If the Company has designated any of its Subsidiaries as Unrestricted Subsidiaries and such
Unrestricted Subsidiaries, either individually or collectively, would otherwise have been a
Significant Subsidiary, then the quarterly and annual financial information required by this
Section 4.03 shall include a reasonably detailed presentation, either on the face of the financial
statements or in the footnotes to the financial statements, and in management’s discussion and
analysis of financial condition and results of operations, of the financial condition and results
of operations of the Company and its Restricted Subsidiaries separate from the financial condition
and results of operations of the Unrestricted Subsidiaries.



     In addition, the Company and the Subsidiary Guarantors have agreed that they will make
available to the Holders and to prospective investors, upon the request of such Holders, the
information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act so long
as the Notes are not freely transferable under the Securities Act. For purposes of this Section
4.03, the Company and the Subsidiary Guarantors will be deemed to have furnished the reports to the
Trustee and the Holders of Notes as required by this covenant if it has filed such reports with the
SEC via the EDGAR filing system and such reports are publicly available.



     Section
4.04  Compliance Certificate.




     (a) The Company and each Subsidiary Guarantor (to the extent that such Subsidiary Guarantor is
so required under the Trust Indenture Act) shall deliver to the Trustee, within 120 days after the
end of each fiscal year ending after the Issue Date, a certificate from the principal executive
officer, principal financial officer or principal accounting officer stating that a review of the
activities of the Company and its Restricted Subsidiaries during the preceding fiscal year has been
made under the supervision of the signing Officer with a view to determining whether the Company
has kept, observed, performed and fulfilled its obligations under this Indenture, and further
stating, as to such Officer signing such certificate, that to his or her knowledge, the Company has
kept, observed, performed and fulfilled each and every condition and covenant contained in this
Indenture and is not in default in the performance or observance of any of the terms, provisions,
covenants and conditions of this Indenture (or, if a Default shall have occurred, describing all
such Defaults of which he or she may have knowledge and what action the Company is taking or
proposes to take with respect thereto).



     (b) If any Default has occurred and is continuing under this Indenture, the Company shall
promptly (which shall be no more than five (5) Business Days upon becoming aware of such Default)
deliver to the Trustee



-48-









 




by registered or certified mail or by facsimile transmission an Officers’ Certificate
specifying such event and what action the Company proposes to take with respect thereto.




     Section
4.05 Taxes.




     The Company shall pay, and shall cause each of its Restricted Subsidiaries to pay, prior to
delinquency, all material taxes, assessments and governmental levies except such as are contested
in good faith and by appropriate negotiations or proceedings or where the failure to effect such
payment is not adverse in any material respect to the Holders of the Notes.



     Section
4.06 Stay, Extension and Usury Laws.




     The Company and each of the Subsidiary Guarantors covenant (to the extent that they may
lawfully do so) that they shall 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, that may affect the covenants or the performance of this
Indenture; and the Company and each of the Subsidiary Guarantors (to the extent that they may
lawfully do so) hereby expressly waive all benefit or advantage of any such law, and covenant that
they shall not, by resort to any such law, hinder, delay or impede the execution of any power
herein granted to the Trustee, but shall suffer and permit the execution of every such power as
though no such law has been enacted.



     Section
4.07 Limitation on Restricted Payments.




     (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries, directly
or indirectly, to:




     (1) declare or pay any dividend or make any distribution (whether made in cash,
securities or other assets or property) on or in respect of its Capital Stock (including any
payment in connection with any merger or consolidation involving the Company or any of its
Restricted Subsidiaries) other than:




     (a) dividends or distributions payable solely in Capital Stock of the Company
(other than Disqualified Stock); and




     (b) dividends or distributions by a Restricted Subsidiary payable to the
Company or another Restricted Subsidiary (and if such Restricted Subsidiary is not a
Wholly Owned Subsidiary, to its other holders of common Capital Stock on a pro rata
basis);




     (2) purchase, redeem, retire or otherwise acquire for value any Capital Stock of the
Company or any direct or indirect parent of the Company held by Persons other than the
Company or a Restricted Subsidiary (other than in exchange for Capital Stock of the Company
(other than Disqualified Stock));




     (3) make any principal payment on, or purchase, repurchase, redeem, defease or
otherwise acquire or retire for value, prior to any scheduled maturity, scheduled repayment
or scheduled sinking fund payment, the Deferred Payment Obligation or any Subordinated
Obligations or Guarantor Subordinated Obligations, other than:




     (a) Indebtedness of the Company owing to and held by any Subsidiary Guarantor
or Indebtedness of a Subsidiary Guarantor owing to and held by the Company or any
other Subsidiary Guarantor permitted under clause (5) of Section 4.09(b); or




     (b) the purchase, repurchase, redemption, defeasance or other acquisition or
retirement of Subordinated Obligations or Guarantor Subordinated Obligations (other
than the Deferred Payment Obligation) purchased in anticipation of satisfying a
sinking fund obligation, principal installment or final maturity, in each case due
within one year of the date of purchase, repurchase, redemption, defeasance or other
acquisition or retirement; or



-49-









 






     (4) make any Restricted Investment;


(all such payments and other actions referred to in clauses (1) through (4) (other than any
exception thereto) shall be referred to as a “Restricted Payment”), unless, at the time of
and after giving effect to such Restricted Payment:





     (a) no Default shall have occurred and be continuing (or would result therefrom);




     (b) immediately after giving effect to such Restricted Payment on a pro forma basis,
the Company is able to Incur $1.00 of additional Indebtedness under the provisions of
Section 4.09(a); and




     (c) the aggregate amount of such Restricted Payment and all other Restricted Payments
declared or made subsequent to the Issue Date (excluding Restricted Payments made pursuant
to clauses (1), (2), (3), (4), (6), (7), (8), (9), (10), (11), (12), (13) and (14) of
Section 4.07(b)) would not exceed the sum of (without duplication):




     (i) 50% of the Company’s Consolidated Net Income for the period (treated as one
accounting period) from October 1, 2010 to the end of the Company’s most recent
fiscal quarter ending prior to the date of such Restricted Payment for which
financial statements prepared on a consolidated basis in accordance with GAAP are
available;




     (ii) 100% of the aggregate Net Cash Proceeds and the fair market value, as
determined in good faith by an Officer of the Company (as evidenced by an Officers’
Certificate), of marketable securities or other property received by the Company
since the Issue Date from the issue or sale of its Capital Stock (other than
Disqualified Stock) or as a capital contribution, other than:




     (A) Net Cash Proceeds received from an issuance or sale of such Capital
Stock to a Subsidiary of the Company or to an employee stock ownership plan,
option plan or similar trust (to the extent such sale to an employee stock
ownership plan or similar trust is financed by loans from or Guaranteed by
the Company or any Restricted Subsidiary unless such loans have been repaid
with cash on or prior to the date of determination); and




     (B) Net Cash Proceeds received by the Company from the issue and sale
of its Capital Stock or capital contributions to the extent applied to
redeem Notes in compliance with the provisions set forth under Section
3.07(b);




     (iii) 100% of any cash dividends or cash distributions received directly or
indirectly by the Company or a Subsidiary Guarantor after the Issue Date from an
Unrestricted Subsidiary, to the extent that such dividends or distributions were not
otherwise included in Consolidated Net Income;




     (iv) the amount by which Indebtedness of the Company (other than the Deferred
Payment Obligation) or its Restricted Subsidiaries is reduced on the Company’s
consolidated balance sheet upon the conversion or exchange subsequent to the Issue
Date of any Indebtedness of the Company or its Restricted Subsidiaries (other than
debt owing to and held by a Subsidiary of the Company) convertible or exchangeable
for Capital Stock (other than Disqualified Stock) of the Company (less the amount of
any cash, or the fair market value of any other property, distributed by the Company
upon such conversion or exchange); and




     (v) the amount equal to the net reduction in Restricted Investments made by the
Company or any of its Restricted Subsidiaries in any Person resulting from:




     (A) repurchases or redemptions of such Restricted Investments by such
Person, proceeds realized upon the sale of such Restricted Investment to an
unaffiliated



-50-









 






purchaser, or repayments of loans or advances or other transfers of
property or assets (including by way of dividend or distribution) by such
Person to the Company or any Restricted Subsidiary (other than for
reimbursement of tax payments);




     (B) the release of any Guarantee (except to the extent any amounts are
paid under such Guarantee); or




     (C) the redesignation of Unrestricted Subsidiaries as Restricted
Subsidiaries or the merger or consolidation of an Unrestricted Subsidiary
with and into the Company or any of its Restricted Subsidiaries (valued in
each case as provided in the definition of “Investment”) not to exceed the
amount of Investments previously made by the Company or any Restricted
Subsidiary in such Unrestricted Subsidiary,




which amount in each case under this clause (v) was included in the calculation of
the amount of Restricted Payments; provided, however, that no amount shall be
included under this clause (v) to the extent it is already included in Consolidated
Net Income.




(b) Section 4.07(a) shall not prohibit:




     (1) a Restricted Payment made by exchange for, or out of the proceeds of, a
substantially concurrent sale of, Capital Stock of the Company (other than Disqualified
Stock and other than Capital Stock issued or sold to a Subsidiary or an employee stock
ownership plan or similar trust to the extent such sale to an employee stock ownership plan
or similar trust is financed by loans from or Guaranteed by the Company or any Restricted
Subsidiary unless such loans have been repaid with cash on or prior to the date of
determination) or any cash capital contribution to the Company; provided, however, that the
amount of Net Cash Proceeds from such sale of Capital Stock that is utilized for such
Restricted Payment shall be excluded from clause (c)(ii) of Section 4.07(a);




     (2) any purchase, repurchase, redemption, defeasance or other acquisition or retirement
of Deferred Payment Obligation or Subordinated Obligations of the Company or Guarantor
Subordinated Obligations of any Subsidiary Guarantor made by exchange for, or out of the
proceeds of, the substantially concurrent sale of, Subordinated Obligations of the Company
or any purchase, repurchase, redemption, defeasance or other acquisition or retirement of
Guarantor Subordinated Obligations made by exchange for, or out of the proceeds of, the
substantially concurrent sale of Guarantor Subordinated Obligations so long as such
refinancing Subordinated Obligations or Guarantor Subordinated Obligations are permitted to
be Incurred pursuant to Section 4.09 and constitute Refinancing Indebtedness;




     (3) any purchase, repurchase, redemption, defeasance or other acquisition or retirement
of Disqualified Stock of the Company or a Restricted Subsidiary made by exchange for, or out
of the proceeds of, the substantially concurrent sale of Disqualified Stock of the Company
or such Restricted Subsidiary, as the case may be, so long as such refinancing Disqualified
Stock is permitted to be Incurred pursuant to Section 4.09 and constitutes Refinancing
Indebtedness;




     (4) the purchase, repurchase, redemption, defeasance or other acquisition or retirement
for value of any Deferred Payment Obligation or Subordinated Obligation (a) at a purchase
price not greater than 101% of the principal amount of such Deferred Payment Obligation or
Subordinated Obligation in the event of a Change of Control in accordance with provisions
similar to Section 4.14 or (b) at a purchase price not greater than 100% of the principal
amount thereof in accordance with provisions similar to Section 4.10; provided that, prior
to or simultaneously with such purchase, repurchase, redemption, defeasance or other
acquisition or retirement, the Company has made the Change of Control Offer or Asset Sale
Offer, as applicable, as provided in such covenant with respect to the Notes and has
completed the repurchase or redemption of all Notes validly tendered for payment in
connection with such Change of Control Offer or Asset Sale Offer;



-51-









 






     (5) the payment of any dividend or distribution, or the consummation of any irrevocable
redemption, within 60 days after the date of declaration of the dividend or distribution or
giving of the redemption notice, as the case may be, if at such date of declaration or
redemption notice such dividend, distribution or redemption, as the case may be, would have
complied with this provision;




     (6) the purchase, redemption or other acquisition, cancellation or retirement for value
of Capital Stock of the Company held by any existing or former employees, officers,
directors, management or consultants of the Company or any Subsidiary of the Company or
their assigns, estates or heirs, in each case in connection with the repurchase provisions
under employee stock option or stock purchase agreements or other agreements to compensate
employees, officers, directors, management or consultants entered into in the ordinary
course of business or approved by the Board of Directors of the Company; provided that such
Capital Stock was received for services related to, or for the benefit of, the Company and
its Restricted Subsidiaries; and provided further that such redemptions or repurchases
pursuant to this clause shall not exceed $10.0 million in the aggregate during any fiscal
year (with unused amounts in any fiscal year being carried over to the next succeeding
fiscal year), subject to a maximum payment in any fiscal year of $25.0 million, although
such amount in any fiscal year may be increased by an amount not to exceed:




     (a) the Net Cash Proceeds from the sale of Capital Stock (other than
Disqualified Stock) of the Company and, to the extent contributed to the Company,
Capital Stock of any of the Company’s direct or indirect parent companies, in each
case to existing or former employees, officers, directors, management or consultants
of the Company, any Subsidiary of the Company that occurs after the Issue Date, to
the extent the cash proceeds from the sale of such Capital Stock have not otherwise
been applied to the payment of Restricted Payments (provided that the amount of Net
Cash Proceeds from such sales or contributions that is utilized for redemptions or
repurchases pursuant to this clause (6) shall be excluded from clause (c)(ii) of
Section 4.07(a)); plus




     (b) the cash proceeds of key man life insurance policies received by the
Company or its Restricted Subsidiaries after the Issue Date; less




     (c) the amount of any Restricted Payments previously made with the cash
proceeds described in clauses (a) and (b) of this clause (6);




     (7) the declaration and payment of dividends or distributions to holders of any class
or series of Disqualified Stock of the Company or any of its Restricted Subsidiaries
Incurred in accordance with Section 4.09;




     (8) the purchase, redemption or other acquisition, cancellation or retirement of
Capital Stock: (a) deemed to occur upon the exercise or exchange of options, warrants,
other rights to purchase or acquire Capital Stock or other securities convertible into or
exchangeable for Capital Stock if such Capital Stock represents a portion of the exercise or
exchange price thereof, or (b) made in lieu of withholding taxes resulting from the exercise
or exchange of options, warrants, other rights to purchase or acquire Capital Stock or other
securities convertible into or exchangeable for Capital Stock;




     (9) in the event the Transactions are consummated, any payments made in connection with
the Transactions as described in the Offering Memorandum;




     (10) the distribution, by dividend or otherwise, of shares of Capital Stock of
Unrestricted Subsidiaries (to the extent the Investments in such Unrestricted Subsidiaries
were Restricted Investments);




     (11) other Restricted Payments in an aggregate amount, which, when taken together with
all other Restricted Payments made pursuant to this clause (11) (as reduced by the amount of
capital repaid or otherwise returned from any such Restricted Payments that constituted
Restricted Investments in the form of cash and Cash Equivalents (exclusive of items
reflected in Consolidated Net Income)) not to exceed $35.0 million;



-52-









 






     (12) payments in lieu of the issuance of fractional shares in connection with the
exercise or exchange of options, warrants, other rights to purchase or acquire Capital Stock
or other securities convertible into or exchangeable for Capital Stock and repurchases of
Capital Stock deemed to occur upon the exercise of stock options, warrants, other rights to
purchase Capital Stock or other convertible securities if such Capital Stock represents a
portion of the exercise price thereof;




     (13) the purchase, redemption, acquisition, cancellation or other retirement of any
Capital Stock of the Company or a Restricted Subsidiary to the extent necessary, in the good
faith judgment of the Company, to prevent the loss or secure the renewal or reinstatement of
any license, permit or other authorization held by the Company or any of its Subsidiaries
issued by any governmental or regulatory authority or to comply with government contracting
regulations; and




     (14) the payment, prepayment, repurchase or redemption of the Deferred Payment
Obligation;


provided, however, that at the time of and after giving effect to, any Restricted Payment permitted
under clauses (6), (10), (11) and (14), no Default shall have occurred and be continuing or would
occur as a consequence thereof.




     (c) The amount of all Restricted Payments (other than cash) shall be the fair market value on
the date such Restricted Payment is made of the assets, securities or other property proposed to be
declared, paid, made, purchased, redeemed, retired, defeased or acquired pursuant to such
Restricted Payment. The fair market value of any cash Restricted Payment shall be its face amount.
With respect to any non-cash Restricted Payment, such fair market value shall be determined by an
Officer of the Company (as evidenced by an Officers’ Certificate).



     As of the Issue Date, all of the Company’s Subsidiaries will be Restricted Subsidiaries. The
Company will not permit any Unrestricted Subsidiary to become a Restricted Subsidiary except
pursuant to the last sentence of the definition of “Unrestricted Subsidiary.” For purposes of
designating any Restricted Subsidiary as an Unrestricted Subsidiary, all outstanding Investments by
the Company and its Restricted Subsidiaries (except to the extent repaid) in the Subsidiary so
designated will be deemed to be Restricted Payments and/or Permitted Investments in an amount
determined as set forth in the definition of “Investment.” Such designation will be permitted only
if a Restricted Payment and/or Permitted Investment in such amount would be permitted at such time
and if such Subsidiary otherwise meets the definition of an Unrestricted Subsidiary. Unrestricted
Subsidiaries will not be subject to any of the restrictive covenants set forth in this Indenture.



     Section
4.08 Limitation on Restrictions on Distributions from Restricted Subsidiaries.




     (a) The Company shall not, and shall not permit any Restricted Subsidiary to, directly or
indirectly, create or otherwise cause or permit to exist or become effective any consensual
encumbrance or consensual restriction on the ability of any Restricted Subsidiary to:




     (1) pay dividends or make any other distributions on its Capital Stock to the Company
or any of its Restricted Subsidiaries, or with respect to any other interest or
participation in, or measured by, its profits, or pay any Indebtedness or other obligations
owed to the Company or any Restricted Subsidiary (it being understood that the priority of
any Preferred Stock in receiving dividends or liquidating distributions prior to dividends
or liquidating distributions being paid on Common Stock shall not be deemed a restriction on
the ability to make distributions on Capital Stock);




     (2) make any loans or advances to the Company or any Restricted Subsidiary (it being
understood that the subordination of loans or advances made to the Company or any Restricted
Subsidiary to other Indebtedness Incurred by the Company or any Restricted Subsidiary shall
not be deemed a restriction on the ability to make loans or advances); or




     (3) sell, lease or transfer any of its property or assets to the Company or any
Restricted Subsidiary (it being understood that such transfers shall not include any type of
transfer described in clause (1) or (2) above).



-53-









 






(b) Section 4.08(a) shall not prohibit encumbrances or restrictions existing under or by
reason of:




     (1) the Senior Credit Facility or any other agreement or instrument in effect at or
entered into on the Issue Date;




     (2) this Indenture, the Notes, the Exchange Notes and the Subsidiary Guarantees;




     (3) any agreement or other instrument of a Person acquired by or merged or consolidated
with or into the Company or any of its Restricted Subsidiaries in existence at the time of
such acquisition, merger or consolidation (but not created in contemplation thereof), which
encumbrance or restriction is not applicable to any Person, or the property or assets of any
Person, other than the Person and its Subsidiaries, or the property or assets of the Person
and its Subsidiaries, so acquired (including after-acquired property and assets);




     (4) any amendment, restatement, modification, renewal, supplement, extension,
refunding, replacement or refinancing of an agreement referred to in clauses (1), (2), (3)
or this clause (4) of this Section 4.08(b); provided, however, that the encumbrances or
restrictions contained in such amendment, restatement, modification, renewal, supplement,
extension, refunding, replacement or refinancing is, in the good faith judgment of the
Company, not materially more restrictive, when taken as a whole, than the encumbrances and
restrictions contained in any of the agreements or instruments referred to in clauses (1),
(2) or (3) of this Section 4.08(b) on the Issue Date or the date such Restricted Subsidiary
became a Restricted Subsidiary or was merged or consolidated with or into the Company or a
Restricted Subsidiary, whichever is applicable;




     (5) in the case of clause (3) of Section 4.08(a), Permitted Liens or Liens otherwise
permitted to be Incurred under that limit the right of the debtor to dispose of property or
assets subject to such Liens;




     (6) purchase money obligations, mortgage financings, Capitalized Lease Obligations and
similar obligations or agreements permitted under this Indenture, in each case, that impose
encumbrances or restrictions of the nature described in clause (3) of Section 4.08(a) with
respect to the property or assets acquired, financed, designed, leased, constructed,
repaired, maintained, installed or improved in connection therewith or thereby (including
any proceeds thereof, accessions thereto and any upgrades or improvements thereto);




     (7) agreements for the sale, transfer or other disposition of property or assets,
including without limitation customary restrictions with respect to a Subsidiary of the
Company pursuant to an agreement that has been entered into for the sale, transfer or other
disposition of all or a portion of the Capital Stock, property or assets of such Subsidiary;




     (8) restrictions on cash, Cash Equivalents or other deposits or net worth imposed by
customers, suppliers or landlords under contracts entered into in the ordinary course of
business or as required by insurance surety or bonding companies;




     (9) any provisions in joint venture agreements, partnership agreements, LLC agreements
and other similar agreements, which (x) are customary or (y) as determined in good faith by
an Officer of the Company (as evidenced by an Officers’ Certificate) do not adversely affect
the Company’s ability to make payments of principal or interest payments on the Notes when
due;




     (10) any provisions in leases, subleases, licenses, asset sale agreements,
sale/leaseback agreements or stock sale agreements and other agreements entered into by the
Company or any Restricted Subsidiary that (x) are customary and entered into in the ordinary
course of business or (y) do not adversely affect the Company’s ability to make payments of
principal or interest payments on the Notes when due, as determined in good faith by an
Officer of the Company (as evidenced by an Officers’ Certificate);



-54-









 






     (11) applicable law or any applicable rule, regulation or order, or any license, permit
or other authorization issued by any governmental or regulatory authority; or




     (12) Credit Facilities or other debt arrangements Incurred by the Company or any
Restricted Subsidiary, or Preferred Stock issued by any Restricted Subsidiary, in accordance
with Section 4.09, that are not materially more restrictive, when taken as a whole, than
those applicable in either this Indenture or the Senior Credit Facility on the Issue Date,
which, as determined in good faith by an Officer of the Company (as evidenced by an
Officers’ Certificate) do not adversely affect the Company’s ability to make payments of
principal or interest payments on the Notes when due.



     Section
4.09 Limitation on Indebtedness.




     (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to,
directly or indirectly, Incur any Indebtedness (including Acquired Indebtedness); provided,
however, that the Company and any Restricted Subsidiary may Incur Indebtedness (including Acquired
Indebtedness) if on the date of such Incurrence and after giving effect thereto on a pro forma
basis the Consolidated Coverage Ratio for the Company and its Restricted Subsidiaries is at least
2.00 to 1.00; provided that the aggregate principal amount of Indebtedness that may be Incurred
pursuant to the foregoing by Non-Guarantor Subsidiaries shall not exceed $25.0 million at any one
time outstanding.



     (b) Section 4.09(a) shall not prohibit the Incurrence of the following Indebtedness:




     (1) Indebtedness of the Company or any Restricted Subsidiary Incurred under a Credit
Facility (including the Senior Credit Facility) and the issuance and creation of letters of
credit and bankers’ acceptances thereunder (with letters of credit and bankers’ acceptances
being deemed to have a principal amount equal to the face amount thereof), in an aggregate
amount at any time outstanding up to $985.0 million less the aggregate principal amount of
all principal repayments of Indebtedness under Credit Facilities with Net Available Cash
from Asset Sales made pursuant to clause (4)(a) of Section 4.10(a) in satisfaction of the
requirements of such covenant;




     (2) Indebtedness represented by the Notes (including any Subsidiary Guarantee) (other
than any Additional Notes) and any Exchange Notes (including any Subsidiary Guarantee
thereof);




     (3) Indebtedness of the Company and its Restricted Subsidiaries in existence on the
Issue Date (other than Indebtedness described in clauses (1), (2), (4), (5), (7), (9), (11)
and (14));




     (4) Guarantees by the Company or its Restricted Subsidiaries of Indebtedness permitted
to be Incurred by the Company or a Restricted Subsidiary in accordance with the provisions
of this Indenture; provided that in the event such Indebtedness that is being Guaranteed is
a Subordinated Obligation or a Guarantor Subordinated Obligation, then the related Guarantee
shall be subordinated in right of payment to the Notes or the Subsidiary Guarantee, as the
case may be;




     (5) Indebtedness of the Company owing to and held by any Restricted Subsidiary or
Indebtedness of a Restricted Subsidiary owing to and held by the Company or any other
Restricted Subsidiary; provided, however,




     (a) if the Company is the obligor on Indebtedness owing to a Non-Guarantor
Subsidiary, such Indebtedness is expressly subordinated to the prior payment in full
in cash of all obligations with respect to the Notes;




     (b) if a Subsidiary Guarantor is the obligor on Indebtedness owing to a
Non-Guarantor Subsidiary, such Indebtedness is subordinated in right of payment to
the Subsidiary Guarantees of such Subsidiary Guarantor; and



-55-









 






     (c) (i) any subsequent issuance or transfer of Capital Stock or other event
that results in any such Indebtedness being beneficially held by a Person other than
the Company or a Restricted Subsidiary of the Company; and




     (ii) any sale or other transfer of any such Indebtedness to a Person other than
the Company or a Restricted Subsidiary of the Company,




shall be deemed, in each case, to constitute an Incurrence of such Indebtedness by the
Company or such Restricted Subsidiary, as the case may be.




     (6) Indebtedness of Persons Incurred and outstanding on the date on which such Person
became a Restricted Subsidiary or was acquired by, or merged into, the Company or any
Restricted Subsidiary (other than Indebtedness Incurred (a) to provide all or any portion of
the funds utilized to consummate the transaction or series of related transactions pursuant
to which such Restricted Subsidiary became a Restricted Subsidiary or was otherwise acquired
by the Company or (b) otherwise either in connection with, or in contemplation of, such
acquisition); provided, however, that at the time such Person is acquired, either:




     (a) the Company would have been able to Incur $1.00 of additional Indebtedness
pursuant to Section 4.09(a) after giving effect to such acquisition and the
Incurrence of such Indebtedness pursuant to this clause (6); or




     (b) the Consolidated Coverage Ratio of the Company and its Restricted
Subsidiaries is at least equal to the Consolidated Coverage Ratio immediately prior
to such acquisition or merger;




     (7) Indebtedness under Hedging Obligations that are Incurred in the ordinary course of
business (and not for speculative purposes);




     (8) Indebtedness (including Capitalized Lease Obligations, Attributable Indebtedness,
mortgage financings or purchase money obligations) of the Company or a Restricted Subsidiary
Incurred to finance any part of the purchase price for, or the cost of design, lease,
construction, repair, maintenance, installation or improvement of, any property (real or
personal), plant or equipment used or to be used in the business of the Company or a
Restricted Subsidiary (or the Capital Stock of any Person owning any such property, plant or
equipment (but no other material assets other than cash or cash equivalents)), and any
Indebtedness of the Company or a Restricted Subsidiary that serves to refund, refinance,
replace, exchange, renew, repay or extend any Indebtedness Incurred pursuant to this clause
(8), in principal amount not to exceed the greater of (x) $35.0 million and (y) 2.0% of
Total Assets in the aggregate at any one time outstanding together with all other
Indebtedness issued under this clause (8) then outstanding;




     (9) Indebtedness Incurred by the Company or any of its Restricted Subsidiaries in
respect of workers’ compensation claims, health, disability or other employee benefits or
property, casualty or liability insurance, self-insurance obligations, performance, bid,
surety, appeal and similar bonds and completion or performance Guarantees (not for borrowed
money) provided in the ordinary course of business, and any letters of credit functioning as
or supporting any of the foregoing;




     (10) Indebtedness arising from agreements of the Company or a Restricted Subsidiary
providing for indemnification Incurred or assumed in connection with the acquisition or
disposition of, or adjustment of purchase price or similar obligations, in each case,
Incurred or assumed in connection with the disposition of, any business, property or assets
of the Company or any business, property, assets or Capital Stock of a Restricted
Subsidiary, other than Guarantees of Indebtedness Incurred by any Person acquiring all or
any portion of such business, property, assets or a Subsidiary for the purpose of financing
such acquisition;



-56-









 






     (11) (a) Indebtedness arising from the honoring by a bank or other financial
institution of a check, draft or similar instrument drawn against insufficient funds in the
ordinary course of business, provided, however, that such Indebtedness is extinguished,
refinanced or otherwise covered within five Business Days of Incurrence or (b) Indebtedness
owed on a short-term basis of no longer than 30 days to banks or financial institutions
Incurred in the ordinary course of business that arises in connection with ordinary banking
arrangements to manage cash balances of the Company and its Subsidiaries;




     (12) the Incurrence or issuance by the Company or any Restricted Subsidiary of
Refinancing Indebtedness that serves to refund, refinance, replace, exchange, renew, repay
or extend any Indebtedness Incurred as permitted under Section 4.09(a) and clauses (2), (3),
(6) and this clause (12) or any Indebtedness issued to so refund, refinance, replace,
exchange, renew, repay or extend such Indebtedness, including additional Indebtedness
Incurred to pay premiums (including reasonable, as determined in good faith by the Company,
tender premiums), defeasance costs, accrued interest and fees and expenses in connection
therewith prior to its respective maturity;




     (13) shares of Preferred Stock of a Restricted Subsidiary issued to the Company or
another Restricted Subsidiary; provided that any subsequent issuance or transfer of any
Capital Stock or any other event that results in any such Restricted Subsidiary ceasing to
be a Restricted Subsidiary or any other subsequent transfer of any such shares of Preferred
Stock (except to the Company or another of its Restricted Subsidiaries) shall be deemed in
each case to be an issuance of such shares of Preferred Stock not permitted by this clause
(13);




     (14) Indebtedness represented by the Deferred Payment Obligation;




     (15) Indebtedness consisting of the financing of (a) insurance premiums or (b)
take-or-pay obligations contained in supply arrangements, in each case Incurred in the
ordinary course of business;




     (16) Indebtedness to the extent that the net proceeds thereof are promptly deposited to
defease or to satisfy and discharge the Notes;




     (17) Indebtedness of any Foreign Subsidiary of the Company in an aggregate principal
amount outstanding at one time pursuant to this clause (17) not to exceed the greater of (x)
$50.0 million and (y) 5% of the amount of Total Assets attributable to Foreign Subsidiaries
of the Company that are Restricted Subsidiaries; and




     (18) in addition to the items referred to in clauses (1) through (17) above,
Indebtedness of the Company and its Restricted Subsidiaries in an aggregate outstanding
principal amount that, when taken together with the principal amount of all other
Indebtedness Incurred pursuant to this clause (18) and then outstanding, shall not exceed
the greater of (x) $50.0 million and (y) 3% of Total Assets.



     (c) For purposes of determining compliance with, and the outstanding principal amount of any
particular Indebtedness Incurred pursuant to and in compliance with, this Section 4.09:




     (1) in the event that an item of Indebtedness meets the criteria of more than one of
the types of Indebtedness described in Sections 4.09(a) and 4.09(b), the Company, in its
sole discretion, shall divide and classify such item of Indebtedness on the date of
Incurrence and may later divide and reclassify such item of Indebtedness in any manner that
complies with this Section 4.09 and only be required to include the amount and type of such
Indebtedness in one of such clauses;




     (2) Guarantees of, or obligations in respect of letters of credit relating to,
Indebtedness that is otherwise included in the determination of a particular amount of
Indebtedness shall not be included;




     (3) if obligations in respect of letters of credit are Incurred pursuant to a Credit
Facility and are being treated as Incurred pursuant to clause (1) of Section 4.09(b) above
and the letters of credit relate to other Indebtedness, then such other Indebtedness shall
not be included;



-57-









 






     (4) the principal amount of any Disqualified Stock of the Company or a Restricted
Subsidiary, or Preferred Stock of a Restricted Subsidiary that is not a Subsidiary
Guarantor, shall be deemed to be equal to the greater of the maximum mandatory redemption or
repurchase price (not including, in either case, any redemption or repurchase premium) and
the liquidation preference thereof, exclusive of any accrued dividends;




     (5) Indebtedness permitted by this Section 4.09 need not be permitted solely by
reference to one provision permitting such Indebtedness but may be permitted in part by one
such provision and in part by one or more other provisions of this Section 4.09 permitting
such Indebtedness;




     (6) the principal amount of any Indebtedness outstanding in connection with a
securitization transaction or series of securitization transactions is the amount of
obligations outstanding under the legal documents entered into as part of such transaction
that would be characterized as principal if such transaction were structured as a secured
lending transaction rather than as a purchase relating to such transaction; and




     (7) the amount of Indebtedness issued at a price that is less than the principal amount
thereof shall be equal to the amount of the liability in respect thereof determined in
accordance with GAAP.



     Accrual of interest, accrual of dividends, the accretion of accreted value or original issue
discount, the amortization of debt discount, the payment of interest in the form of additional
Indebtedness and the payment of dividends in the form of additional shares of Preferred Stock or
Disqualified Stock shall not be deemed to be an Incurrence of Indebtedness for purposes of this
Section 4.09. The amount of any Indebtedness outstanding as of any date shall be (i) the accreted
value thereof in the case of any Indebtedness issued with original issue discount or the aggregate
principal amount outstanding in the case of Indebtedness issued with interest payable in kind and
(ii) the principal amount or liquidation preference thereof in the case of any other Indebtedness.



     The Company will not permit any of its Unrestricted Subsidiaries, for so long as it is an
Unrestricted Subsidiary, to Incur any Indebtedness (including the issuance of any shares of
Disqualified Stock), other than Non-Recourse Debt. If at any time an Unrestricted Subsidiary
becomes a Restricted Subsidiary, any Indebtedness of such Subsidiary shall be deemed to be Incurred
by a Restricted Subsidiary as of such date (and, if such Indebtedness is not permitted to be
Incurred as of such date under this Section 4.09, the Company shall be in Default of this Section
4.09).



     For purposes of determining compliance with any U.S. dollar-denominated restriction on the
Incurrence of Indebtedness, the U.S. dollar-equivalent principal amount of Indebtedness denominated
in a foreign currency shall be calculated based on the relevant currency exchange rate in effect on
the date such Indebtedness was Incurred, in the case of term Indebtedness, or first committed, in
the case of revolving credit Indebtedness; provided that if such Indebtedness is Incurred to
refinance other Indebtedness denominated in a foreign currency, and such refinancing would cause
the applicable U.S. dollar-denominated restriction to be exceeded if calculated at the relevant
currency exchange rate in effect on the date of such refinancing, such U.S. dollar-denominated
restriction shall be deemed not to have been exceeded so long as the principal amount of such
Refinancing Indebtedness does not exceed the principal amount of such Indebtedness being
refinanced. Notwithstanding any other provision of this Section 4.09, the maximum amount of
Indebtedness that the Company may Incur pursuant to this Section 4.09 shall not be deemed to be
exceeded solely as a result of fluctuations in the exchange rate of currencies. The principal
amount of any Indebtedness Incurred to refinance other Indebtedness, if Incurred in a different
currency from the Indebtedness being refinanced, shall be calculated based on the currency exchange
rate applicable to the currencies in which such Refinancing Indebtedness is denominated that is in
effect on the date of such refinancing.



     Section
4.10
Sales of Assets and Subsidiary Stock.




     (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to,
consummate any Asset Sale unless:



-58-









 






     (1) the Company or such Restricted Subsidiary, as the case may be, receives
consideration at least equal to the fair market value (such fair market value to be
determined as of the date of contractually agreeing to such Asset Sale) of the Capital
Stock, property or assets subject to such Asset Sale;




     (2) such fair market value (including the fair market value of all such non-cash
consideration) shall be determined in good faith by an Officer of the Company (as evidenced
by an Officers’ Certificate);




     (3) at least 75% of the consideration from such Asset Sale received by the Company or
such Restricted Subsidiary, as the case may be, is in the form of cash or Cash Equivalents;
and




     (4) an amount equal to 100% of the Net Available Cash from such Asset Sale is applied
by the Company or a Restricted Subsidiary within 365 days from the later of the date of
consummation of such Asset Sale or the receipt of such Net Available Cash, as follows:




     (a) to repay, prepay, defease, redeem, purchase or otherwise retire (and to
permanently reduce commitments with respect thereto in the case of revolving
borrowings): (x) Indebtedness or other obligations under the Senior Credit
Facility; (y) Indebtedness of the Company (other than any Disqualified Stock or
Subordinated Obligations) that is secured by a Lien (other than Indebtedness owed to
an Affiliate of the Company); or (z) Indebtedness of a Restricted Subsidiary (other
than any Disqualified Stock or Guarantor Subordinated Obligations) that is secured
by a Lien (other than Indebtedness owed to the Company or an Affiliate of the
Company);




     (b) in the case of an Asset Sale by a Restricted Subsidiary that is not a
Subsidiary Guarantor, to repay, prepay, defease, redeem, purchase or otherwise
retire (and to permanently reduce commitments with respect thereto in the case of
revolving borrowings) Indebtedness of such Restricted Subsidiary or any other
Restricted Subsidiary that is not a Subsidiary Guarantor;




     (c) to permanently reduce obligations under any other Indebtedness of the
Company (other than any Disqualified Stock or Subordinated Obligations) or
Indebtedness of a Restricted Subsidiary (other than any Disqualified Stock or
Guarantor Subordinated Obligations) (in each case other than Indebtedness owed to
the Company or an Affiliate of the Company); provided that the Company shall equally
and ratably reduce obligations, under the Notes as provided under Section 3.07,
through open market purchases (to the extent such purchases are at or above 100% of
the principal amount thereof) or by making an offer (in accordance with the
procedures set forth below for an Asset Sale Offer) to all Holders to purchase their
Notes at 100% of the principal amount thereof, plus the amount of accrued but unpaid
interest, if any, on the amount of Notes that would otherwise be prepaid; or




     (d) to invest in, purchase or otherwise acquire Additional Assets, or to make
payments (including without limitation prepayments and progress payments) in
connection with such investment, purchase or other acquisition;


provided that pending the final application of any such Net Available Cash in accordance with
clause (a), (b), (c) or (d) above, the Company and its Restricted Subsidiaries may temporarily
reduce Indebtedness or otherwise invest such Net Available Cash in any manner not prohibited by
this Indenture; provided further that in the case of clause (d), a binding commitment shall be
treated as a permitted application of the Net Available Cash from the date of such commitment so
long as the Company or such other Restricted Subsidiary enters into such commitment with the good
faith expectation that such Net Available Cash shall be applied to satisfy such commitment within
360 days of such commitment (an “Acceptable Commitment”), it being understood that if an
Acceptable Commitment is later cancelled or terminated for any reason before such Net Available
Cash is applied, then all such Net Available Cash not so applied shall constitute Excess Proceeds.




     (b) For the purposes of clause (3) of Section 4.10(a) and for no other purpose, the following
shall be deemed to be cash:



-59-









 






     (1) any liabilities (as shown on the Company’s or such Restricted Subsidiary’s most
recent balance sheet) of the Company or any Restricted Subsidiary (other than liabilities
that are by their terms subordinated to the Notes or the Subsidiary Guarantees) that are
assumed by the transferee of any such Capital Stock, property or assets and from which the
Company and all Restricted Subsidiaries have been validly released from further liability
therefor;




     (2) any securities, notes or other obligations received by the Company or any
Restricted Subsidiary from the transferee that are converted by the Company or such
Restricted Subsidiary into cash (to the extent of the cash received in such conversion)
within 270 days following the closing of such Asset Sale; and




     (3) any Designated Noncash Consideration received by the Company or any of its
Restricted Subsidiaries in such Asset Sale having an aggregate fair market value (as
determined in good faith by an Officer of the Company (as evidenced by an Officers’
Certificate), taken together with all other Designated Noncash Consideration received
pursuant to this clause (3) that is at that time outstanding, not to exceed the greater of
(x) $25.0 million and (y) 1.5% of Total Assets at the time of the receipt of such Designated
Noncash Consideration (with the fair market value of each item of Designated Noncash
Consideration being measured at the time received without giving effect to subsequent
changes in value).



     Notwithstanding the foregoing, the 75% limitation referred to in clause (3) of Section 4.10(a)
shall be deemed satisfied with respect to any Asset Sale in which the cash or Cash Equivalents
portion of the consideration received therefrom, determined in accordance with the foregoing
provision on an after-tax basis, if the proceeds before tax would have complied with the
aforementioned 75% limitation.



     (c) Any Net Available Cash from Asset Sales that is not applied or invested as provided in
clause (4) of Section 4.10(a) shall be deemed to constitute “Excess Proceeds.” On the 366th day
after the later of the date of consummation of the applicable Asset Sale and the receipt of Net
Available Cash with respect thereto, if the aggregate amount of Excess Proceeds exceeds $20.0
million, the Company shall be required to make an offer (“Asset Sale Offer”) to all Holders
of Notes and to the extent required by the terms of other Pari Passu Indebtedness, to all holders
of other Pari Passu Indebtedness outstanding with similar provisions requiring the Company to make
an offer to purchase such Pari Passu Indebtedness with the proceeds from any Asset Sale, to
purchase the maximum principal amount of Notes and any such Pari Passu Indebtedness to which the
Asset Sale Offer applies that may be purchased out of the Excess Proceeds, at an offer price in
cash in an amount equal to 100% of the principal amount of the Notes and Pari Passu Indebtedness
plus accrued and unpaid interest to the date of purchase, in accordance with the procedures set
forth in this Indenture or the agreements governing the Pari Passu Indebtedness, as applicable, in
each case in integral multiples of $1,000. To the extent that the aggregate amount of Notes and
Pari Passu Indebtedness so properly tendered and not withdrawn pursuant to an Asset Sale Offer is
less than the Excess Proceeds, the Company may use any remaining Excess Proceeds for any purpose
not prohibited by this Indenture. If the aggregate principal amount of Notes surrendered by
Holders thereof and other Pari Passu Indebtedness surrendered by holders or lenders, collectively,
exceeds the amount of Excess Proceeds, the Trustee shall select the Notes, and the trustee or agent
for the Pari Passu Indebtedness shall select the Pari Passu Indebtedness, to be purchased on a pro
rata basis on the basis of the aggregate principal amount of tendered Notes and Pari Passu
Indebtedness. Upon completion of such Asset Sale Offer, the amount of Excess Proceeds shall be
reset at zero.



     The Asset Sale Offer shall remain open for a period of 20 Business Days following its
commencement, except to the extent that a longer period is required by applicable law (the
“Asset Sale Offer Period”). No later than five Business Days after the termination of the
Asset Sale Offer Period (the “Asset Sale Purchase Date”), the Company shall purchase the
principal amount of Notes and Pari Passu Indebtedness required to be purchased pursuant to this
Section 4.10 (the “Asset Sale Offer Amount”) or, if less than the Asset Sale Offer Amount
has been so validly tendered, all Notes and Pari Passu Indebtedness validly tendered in response to
the Asset Sale Offer.



     If the Asset Sale Purchase Date is on or after a Record Date and on or before the related
Interest Payment Date, any accrued and unpaid interest shall be paid to the Person in whose name a
Note is registered at the close of business on such Record Date, and no Additional Interest shall
be payable to Holders who tender Notes pursuant to the Asset Sale Offer.




-60-












 





     Pending the final application of any Net Available Cash pursuant to this Section 4.10, the
Company and its Restricted Subsidiaries may apply such Net Available Cash temporarily to reduce
Indebtedness or otherwise invest such Net Available Cash in any manner not prohibited by this
Indenture.



     (d) On or before the Asset Sale Purchase Date, the Company shall, to the extent lawful, accept
for payment, on a pro rata basis to the extent necessary, the Asset Sale Offer Amount of Notes and
Pari Passu Indebtedness or portions of Notes and Pari Passu Indebtedness so validly tendered and
not properly withdrawn pursuant to the Asset Sale Offer, or if less than the Asset Sale Offer
Amount has been validly tendered and not properly withdrawn, all Notes and Pari Passu Indebtedness
so validly tendered and not properly withdrawn, in each case in integral multiples of $1,000. The
Company shall deliver to the Trustee an Officers’ Certificate stating that such Notes or portions
thereof were accepted for payment by the Company in accordance with the terms of this Section 4.10
and, in addition, the Company shall deliver all certificates and notes required, if any, by the
agreements governing the Pari Passu Indebtedness. The Company, the Depositary or the Paying Agent,
as the case may be, shall promptly (but in any case not later than five Business Days after
termination of the Asset Sale Offer Period) mail or deliver to each tendering Holder of Notes an
amount equal to the purchase price of the Notes so validly tendered and not properly withdrawn by
such Holder and accepted by the Company for purchase, and the Company shall promptly issue a new
Note, and the Trustee, upon delivery of an Officers’ Certificate from the Company, shall
authenticate and mail or deliver such new Note to such Holder, in a principal amount equal to any
unpurchased portion of the Note surrendered representing the same indebtedness to the extent not
repurchased; provided that each such new Note shall be in a principal amount of $2,000 or an
integral multiple of $1,000 in excess thereof. In addition, the Company shall take any and all
other actions required by the agreements governing the Pari Passu Indebtedness. Any Note not so
accepted shall be promptly mailed or delivered by the Company to the Holder thereof. The Company
shall publicly announce the results of the Asset Sale Offer on or as soon as practicable after the
Asset Sale Purchase Date.



     The Company shall comply, to the extent applicable, with the requirements of Rule 14e-1 under
the Exchange Act and any other securities laws or regulations in connection with the repurchase of
Notes pursuant to the Asset Sale Offer. To the extent that the provisions of any securities laws
or regulations conflict with provisions of this Section 4.10, the Company shall comply with the
applicable securities laws and regulations and shall not be deemed to have breached its obligations
under this Indenture by virtue of such compliance.



     Section
4.11 Transactions with Affiliates.




     (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to,
directly or indirectly, enter into or conduct any transaction (including the purchase, sale, lease
or exchange of any property or the rendering of any service) with any Affiliate of the Company (an
“Affiliate Transaction”) involving payments or consideration in excess of $1.0 million
unless:




     (1) the terms of such Affiliate Transaction are not materially less favorable to the
Company or such Restricted Subsidiary, as the case may be, when taken as a whole, than those
that would have been obtained in a comparable transaction at the time of such transaction on
an arm’s-length basis with a Person who is not an Affiliate;




     (2) in the event such Affiliate Transaction involves an aggregate consideration in
excess of $25.0 million, the terms of such transaction have been approved by a majority of
the disinterested members of the Board of Directors of the Company and the Board of the
Directors of the Company shall have determined in good faith that such Affiliate Transaction
satisfies the criteria in clause (1) above; and




     (3) in the event such Affiliate Transaction involves an aggregate consideration in
excess of $35.0 million, the Company has received a written opinion from an Independent
Financial Advisor (a) that such Affiliate Transaction is not materially less favorable, when
taken as a whole, than those that might reasonably have been obtained in a comparable
transaction at the time of such transaction on an arm’s-length basis with a Person who is
not an Affiliate, or (b) as to the fairness to the Company or such Restricted Subsidiary of
such Affiliate Transaction from a financial point of view.



     (b) Section 4.11(a) shall not apply to:



-61-









 






     (1) any transaction between or among the Company and one or more Restricted
Subsidiaries or between or among any Restricted Subsidiaries and any Guarantees issued by
the Company or a Restricted Subsidiary for the benefit of the Company or a Restricted
Subsidiary, as the case may be, in accordance with Section 4.09;




     (2) any Restricted Payment permitted to be made pursuant to Section 4.07 and the
definition of “Permitted Investments”;




     (3) any employment, consulting, service or termination agreement, or indemnification
arrangement, entered into by the Company or a Restricted Subsidiary with a current or former
director, officer or employee of the Company or a Restricted Subsidiary; the payment of
compensation or expense reimbursement to any current or former director, officer or employee
of the Company or a Restricted Subsidiary (including amounts paid pursuant to employee
benefit, employee stock option or similar plans); or any issuance of securities, or other
payments, awards or grants in cash, securities or otherwise pursuant to, or the funding of,
employment agreements and other compensation arrangements, options to purchase Capital Stock
of the Company, restricted stock plans, restricted stock unit plans, long-term incentive
plans, stock appreciation rights plans, participation plans or similar employee benefits
plans and/or indemnity provided on behalf of directors, officers and employees of the
Company or a Restricted Subsidiary approved by the Board of Directors of the Company;




     (4) the payment of reasonable fees and expense reimbursements to current or former
directors of the Company or any Restricted Subsidiary;




     (5) loans or advances to employees, officers or directors of the Company or any
Restricted Subsidiary in the ordinary course of business consistent with past practices, in
an aggregate amount not in excess of $10.0 million outstanding at any time;




     (6) any agreement as in effect as of the Issue Date, as such agreement may be amended,
modified, supplemented, extended or renewed from time to time, so long as any such
amendment, modification, supplement, extension or renewal, when taken as a whole, is not
materially more disadvantageous to the Holders in the reasonable determination of an Officer
of the Company (as evidenced by an Officers’ Certificate);




     (7) any agreement between any Person and an Affiliate of such Person existing at the
time such Person is acquired by or merged or consolidated with or into the Company or a
Restricted Subsidiary, as such agreement may be amended, modified, supplemented, extended or
renewed from time to time; provided that such agreement was not entered into contemplation
of such acquisition, merger or consolidation, and so long as any such amendment,
modification, supplement, extension or renewal, when taken as a whole, is not materially
more disadvantageous to the Holders, in the reasonable determination of an Officer of the
Company (as evidenced by an Officers’ Certificate), than the applicable agreement as in
effect on the date of such acquisition, merger or consolidation;




     (8) transactions with customers, clients, suppliers, joint venture partners or
purchasers or sellers of goods or services, in each case in the ordinary course of the
business of the Company and its Restricted Subsidiaries and otherwise in compliance with the
terms of this Indenture; provided that in the reasonable determination of an Officer of the
Company (as evidenced by an Officers’ Certificate), such transactions are on terms that are
not materially less favorable, when taken as a whole, to the Company or the relevant
Restricted Subsidiary than those that would have been obtained in a comparable transaction
by the Company or such Restricted Subsidiary with an unrelated Person;




     (9) any issuance or sale of Capital Stock (other than Disqualified Stock) to Affiliates
of the Company and the granting of registration and other customary rights with respect
thereto;




     (10) transactions in which the Company or any Restricted Subsidiary delivers to the
Trustee a letter or opinion from an Independent Financial Advisor stating that such
transaction is fair to the Company



-62-









 







or such Restricted Subsidiary from a financial point of view or stating that the terms are
not materially less favorable, when taken as a whole, than those that might reasonably have
been obtained by the Company or such Restricted Subsidiary in a comparable transaction at
such time on an arm’s-length basis from a Person that is not an Affiliate; and




     (11) the Transactions and the payment of all fees and expenses related to the
Transactions, in each case as disclosed in the Offering Memorandum.



     Section
4.12 Limitation on Liens.




     (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to,
directly or indirectly, create or incur any Lien securing Indebtedness (other than Permitted Liens)
upon any of its property or assets (including Capital Stock of Subsidiaries), or income or profits
therefrom, or assign or convey any right to receive income therefrom, whether owned on the Issue
Date or acquired after that date, which Lien is securing any Indebtedness, unless contemporaneously
with the Incurrence of such Liens:




     (1) in the case of Liens securing Subordinated Obligations or Guarantor Subordinated
Obligations, the Notes and related Subsidiary Guarantees are secured by a Lien on such
property, assets or proceeds that is senior to such Liens; or




     (2) in all other cases, the Notes and related Subsidiary Guarantees are equally and
ratably secured or are secured by a Lien on such property, assets or proceeds that is senior
in priority to such Liens.



     (b) Any Lien created for the benefit of Holders of the Notes pursuant to this Section 4.12
shall be automatically and unconditionally released and discharged upon the release and discharge
of each of the Liens described in clauses (1) and (2) above.



     Section
4.13 Corporate Existence.




     Subject to Article 5, the Company shall do or cause to be done all things necessary to
preserve and keep in full force and effect (i) its corporate existence and the corporate,
partnership, limited liability company or other existence of each of its Restricted Subsidiaries,
in accordance with the respective organizational documents (as the same may be amended from time to
time) of the Company or any such Restricted Subsidiary and (ii) the rights (charter and statutory),
licenses and franchises of the Company and its Restricted Subsidiaries; provided that the Company
shall not be required to preserve any such right, license or franchise, or the corporate,
partnership, limited liability company or other existence of any of its Restricted Subsidiaries, if
the Company in good faith shall determine that the preservation thereof is no longer desirable in
the conduct of the business of the Company and its Restricted Subsidiaries, taken as a whole.



     Section
4.14 Offer to Repurchase Upon Change of Control.




     (a) If a Change of Control occurs, unless the Company has exercised its right to redeem all of
the Notes as described under Section 3.07, each Holder shall have the right to require the Company
to repurchase all or any part (equal to $2,000 or larger integral multiples of $1,000) of such
Holder’s Notes at a purchase price in cash equal to 101% of the aggregate principal amount of the
Notes repurchased plus accrued and unpaid interest, if any, to the date of purchase (subject to the
right of Holders on the relevant Record Date to receive interest due on the relevant Interest
Payment Date).



     (b) Within 30 days following any Change of Control, unless the Company has exercised its right
to redeem all of the Notes as described under Section 3.07, the Company shall mail a notice (the
“Change of Control Offer”) to each Holder, with a copy to the Trustee, stating:




     (1) that a Change of Control has occurred and that such Holder has the right to require
the Company to purchase such Holder’s Notes at a purchase price in cash equal to 101% of the
principal amount of such Notes plus accrued and unpaid interest, if any, to the date of
purchase (subject to the right



-63-









 







of Holders on a Record Date to receive interest on the relevant Interest Payment Date) (the
“Change of Control Payment”);




     (2) the repurchase date (which shall be no earlier than 30 days nor later than 60 days
from the date such notice is mailed) (the “Change of Control Payment Date”); and




     (3) the procedures determined by the Company, consistent with this Indenture, that a
Holder must follow in order to have its Notes repurchased.



     On the Change of Control Payment Date, the Company shall, to the extent lawful:




     (1) accept for payment all Notes or portions of Notes (equal to $2,000 or larger
integral multiples of $1,000) properly tendered and not withdrawn pursuant to the Change of
Control Offer;




     (2) deposit with the Paying Agent an amount equal to the Change of Control Payment in
respect of all Notes or portions of Notes properly tendered and not withdrawn; and




     (3) deliver or cause to be delivered to the Trustee the Notes so accepted together with
an Officers’ Certificate stating the aggregate principal amount of Notes or portions of
Notes being purchased by the Company.



     The Paying Agent shall promptly mail to each Holder of Notes properly tendered and not
withdrawn the Change of Control Payment for such Notes, and the Trustee shall promptly authenticate
and mail deliver to each Holder a new Note equal in principal amount to any unpurchased portion of
the Notes surrendered, if any; provided that each such new Note shall be in a principal amount of
$2,000 or larger integral multiples of $1,000.



     The notice, if mailed in a manner herein provided, shall be conclusively presumed to have been
given, whether or not the Holder receives such notice. If (a) the notice is mailed in a manner
herein provided and (b) any Holder fails to receive such notice or a Holder receives such notice
but it is defective, such Holder’s failure to receive such notice or such defect shall not affect
the validity of the proceedings for the purchase of the Notes as to all other Holders that properly
received such notice without defect.



     If the Change of Control Payment Date is on or after an interest record date and on or before
the related interest payment date, any accrued and unpaid interest, if any, will be paid on the
relevant interest payment date to the Person in whose name a Note is registered at the close of
business on such record date, and no Additional Interest will be payable to holders who tender
pursuant to the Change of Control Offer.



     (c) The Company shall not be required to make a Change of Control Offer upon a Change of
Control if a third party makes the Change of Control Offer in the manner, at the times and
otherwise in compliance with the requirements set forth in this Indenture applicable to a Change of
Control Offer made by the Company and purchases all Notes properly tendered and not withdrawn under
such Change of Control Offer. A Change of Control Offer may be made in advance of a Change of
Control, conditional upon such Change of Control, if a definitive agreement is in place for the
Change of Control at the time of the making of the Change of Control Offer.



     (d) The Company shall comply, to the extent applicable, with the requirements of Rule 14e-1
under the Exchange Act and any other securities laws or regulations in connection with the
repurchase of Notes pursuant to the Change of Control Offer. To the extent that the provisions of
any securities laws or regulations conflict with provisions of this Indenture, the Company shall
comply with the applicable securities laws and regulations and shall not be deemed to have breached
its obligations described in this Indenture by virtue of such compliance.



     Section
4.15 Future Subsidiary Guarantors.




     (a) The Company shall cause any domestic Restricted Subsidiary that borrows under or
guarantees the Senior Credit Facility after the Issue Date to execute and deliver to the Trustee a
supplemental indenture, the form of which is attached as Exhibit D hereto, pursuant to
which such Restricted Subsidiary will unconditionally Guarantee,



-64-









 






on a joint and several basis, the full and prompt payment of the principal of, premium, if any, and
interest (including Additional Interest, if any) in respect of the Notes on a senior basis and all
other obligations under this Indenture.




     (b) Notwithstanding the foregoing, each Subsidiary Guarantee shall provide by its terms that
it shall be automatically and unconditionally released and discharged under the circumstances
described in Section 10.06.



     Section 4.16 [Reserved]




     Section 4.17
Suspension of Covenants.



     (a) Following the first day (the “Suspension Date”) that:




     (1) the Notes have an Investment Grade Rating from both of the Ratings Agencies; and




     (2) no Default has occurred and is continuing under this Indenture;


the Company and its Restricted Subsidiaries shall not be subject to Sections 4.07, 4.08, 4.09,
4.10, 4.11 and clause (4) of Section 5.01(a) (collectively, the “Suspended Covenants”). If
at any time following a Suspension Date the Notes’ credit rating is downgraded from an Investment
Grade Rating by either Rating Agency or if a Default or Event of Default occurs and is continuing
(such date, the “Reinstatement Date”), then the Suspended Covenants shall thereafter be
reinstated as if such covenants had never been suspended and be applicable pursuant to the terms of
this Indenture (including in connection with performing any calculation or assessment to determine
compliance with the terms of this Indenture), unless and until a subsequent Suspension Date occurs
(in which event the Suspended Covenants shall no longer be in effect until a subsequent
Reinstatement Date occurs).




     (b) Notwithstanding the reinstatement of the Suspended Covenants upon a Reinstatement Date, no
Default, Event of Default or breach of any kind shall be deemed to exist under this Indenture, the
Notes or the Subsidiary Guarantees with respect to the Suspended Covenants based on, and none of
the Company or any of its Subsidiaries shall bear any liability for, any actions taken or events
occurring during the Suspension Period (as defined below), or any actions taken at any time
pursuant to any contractual obligation arising prior to the Reinstatement Date, regardless of
whether such actions or events would have been permitted if the applicable Suspended Covenants
remained in effect during such period. The period of time between Suspension Date and the
Reinstatement Date is referred to as the “Suspension Period.”



     (c) On each Reinstatement Date, all Indebtedness Incurred during the applicable Suspension
Period shall be classified to have been Incurred pursuant to Section 4.09(a) or one of the clauses
set forth in Section 4.09(b) (to the extent such Indebtedness would be permitted to be Incurred
thereunder as of such Reinstatement Date and after giving effect to Indebtedness Incurred prior to
the Suspension Period and outstanding on the Reinstatement Date). To the extent such Indebtedness
would not be so permitted to be Incurred pursuant Section 4.09(a) or Section 4.09(b), such
Indebtedness shall be deemed to have been outstanding on the Issue Date, so that it is classified
as permitted under clause (3) of Section 4.09(b). Calculations made after each Reinstatement Date
of the amount available to be made as Restricted Payments under Section 4.07 shall be made as
though Section 4.07 had been in effect since the Issue Date and throughout any and all Suspension
Periods. Accordingly, Restricted Payments made during a Suspension Period shall reduce the amount
available to be made as Restricted Payments under Section 4.07(a) to the extent required by such
Section 4.07. For purposes of determining compliance with Section 4.10, on the Reinstatement Date,
the Net Available Cash from all Asset Sales not applied in accordance with such section shall be
deemed reset at zero. The Company shall provide written notice to the Trustee of the occurrence of
any Suspension Date or Reinstatement Date.



     (d) During any period when the Suspended Covenants are suspended, the Board of Directors of
the Company shall not designate any of the Company’s Subsidiaries as Unrestricted Subsidiaries
pursuant to this Indenture.



-65-









 





ARTICLE 5




SUCCESSORS



     Section 5.01
Merger and Consolidation.




     (a) The Company shall not consolidate with or merge with or into or wind up into (whether or
not the Company is the surviving corporation), or sell, assign, convey, transfer or otherwise
dispose of all or substantially all of the properties and assets of the Company and its Restricted
Subsidiaries, taken as a whole, in one or more related transactions, to any Person unless:




     (1) the resulting, surviving or transferee Person (the “Successor Company”) is
the Company or will be a corporation, limited liability company or partnership organized and
existing under the laws of the United States of America, any State of the United States, the
District of Columbia or any territory of the United States; provided that if such Person is
not a corporation, such Person shall immediately cause a Subsidiary that is a corporation to
be added as a co-issuer of the Notes under this Indenture;




     (2) the Successor Company (if other than the Company) assumes all of the obligations of
the Company under the Notes and this Indenture pursuant to a supplemental indenture or other
documentation or instruments in forms reasonably satisfactory to the Trustee and assumes by
written agreement all of the obligations of the Company, if applicable, under the
Registration Rights Agreement;




     (3) immediately after giving effect to such transaction, no Default or Event of Default
shall have occurred and be continuing;




     (4) immediately after giving pro forma effect to such transaction and any related
financing transactions, as if such transactions had occurred at the beginning of the
applicable four-fiscal-quarter period,




     (i) the Successor Company would be able to Incur at least $1.00 of additional
Indebtedness pursuant to Section 4.09(a), or




     (ii) the Consolidated Coverage Ratio for the Successor Company would be equal
to or greater than such ratio for the Company immediately prior to such transaction;




     (5) each Subsidiary Guarantor (unless it is the other party to the transactions above,
in which case clause (1) shall apply) shall have confirmed in writing to the Trustee that
its Subsidiary Guarantee shall apply to such Person’s obligations in respect of this
Indenture and the Notes and, if applicable, that its obligations under the Registration
Rights Agreement shall continue to be in effect; and




     (6) the Successor Company delivers to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that such consolidation, merger or transfer and the
supplemental indenture or other documentation referenced in clause (2) comply with this
Indenture.



     Notwithstanding the preceding clauses (3) and (4),




     (1) any Restricted Subsidiary may consolidate with, merge with or into or
transfer all or part of its properties and assets to the Company so long as no
Capital Stock of the Restricted Subsidiary is distributed to any Person other than
the Company, and




     (2) the Company may merge with an Affiliate of the Company solely for the
purpose of reincorporating the Company in another jurisdiction.



     (b) the Company shall not permit any Subsidiary Guarantor to consolidate with or merge with or
into or wind up into (whether or not the Subsidiary Guarantor is the surviving corporation), or
sell, assign, convey, trans-



-66-









 




fer or otherwise dispose of all or substantially all of its properties and assets to any Person
(other than to the Company or another Subsidiary Guarantor) unless:





     (1) (a) if such entity remains a Subsidiary Guarantor, the resulting, surviving or
transferee Person (the “Successor Guarantor”) will be a corporation, partnership,
trust or limited liability company organized and existing under the laws of the United
States of America, any State of the United States, the District of Columbia or any other
territory thereof and, if applicable, shall assume by written agreement all the obligations
of the Subsidiary Guarantor under the Registration Rights Agreement; (b) the Successor
Guarantor, if other than such Subsidiary Guarantor, expressly assumes all the obligations of
such Subsidiary Guarantor under the Notes and this Indenture pursuant to a supplemental
indenture or other documents or instruments; (c) immediately after giving effect to such
transaction, no Default of Event of Default shall have occurred and be continuing; and (d)
the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that such consolidation, merger or transfer and such supplemental
indenture (if any) comply with this Indenture; and




     (2) the transaction is made in compliance with Section 4.10 (it being understood that
only such portion of the Net Available Cash as is required to be applied on the date of such
transaction in accordance with the terms of this Indenture needs to be applied in accordance
therewith at such time) and this Section 5.01.



     (c) In addition, the Company shall not, directly or indirectly, lease, or permit any
Subsidiary Guarantor to lease, all or substantially all of the properties of it and its Restricted
Subsidiaries, taken as a whole, in one or more related transactions, to any other Person.



     (d) Subject to certain limitations described in this Indenture, the Successor Guarantor shall
succeed to, and be substituted for, such Subsidiary Guarantor under this Indenture and the
Subsidiary Guarantee of such Subsidiary Guarantor. Notwithstanding the foregoing, any Subsidiary
Guarantor may (x) merge with or into or transfer all or part of its properties and assets to
another Subsidiary Guarantor or the Company, or (y) merge with a Restricted Subsidiary of the
Company solely for the purpose of reincorporating the Subsidiary Guarantor in a State of the United
States or the District of Columbia, as long as the amount of Indebtedness of such Subsidiary
Guarantor and its Restricted Subsidiaries is not increased thereby.



     (e) For purposes of this Section 5.01, the sale, lease, assignment, conveyance, transfer or
other disposition of all or substantially all of the properties and assets of one or more
Subsidiaries of the Company, which properties and assets, if held by the Company instead of such
Subsidiaries, would constitute all or substantially all of the properties and assets of the Company
on a consolidated basis, shall be deemed to be the transfer of all or substantially all of the
properties and assets of the Company.



     (f) Upon any consolidation or merger, or any sale, assignment, transfer, conveyance or other
disposition of all or substantially all of the assets of a Subsidiary Guarantor in accordance with
this Section 5.01, such Subsidiary Guarantor shall be released from its obligations under this
Indenture and the Subsidiary Guarantee and the Successor Guarantor shall succeed to, and be
substituted for, and may exercise every right and power of, the Subsidiary Guarantor under this
Indenture and the Subsidiary Guarantee, but, in the case of a lease of all or substantially all its
properties and assets, such Subsidiary Guarantor shall not be released from its obligations under
its Subsidiary Guarantee.



     Section 5.02
Successor Entity Substituted.




     Upon any consolidation or merger, or any sale, assignment, transfer, conveyance or other
disposition of all or substantially all of the assets of the Company in accordance with Section
5.01, the Company shall be released from its obligations under this Indenture and the Successor
Company formed by such consolidation or into or with which the Company is merged or to which such
sale, assignment, transfer, conveyance or other disposition is made shall succeed to, and be
substituted for (so that from and after the date of such consolidation, merger, sale, conveyance or
other disposition, the provisions of this Indenture referring to the Company shall refer instead to
the Successor Company and not to the Company), and may exercise every right and power of the
Company under this Inden-



-67-









 




ture with the same effect as if such Successor Company had been named as the Company herein;
provided that the predecessor Company shall not be relieved from the obligation to pay the
principal of and interest and Additional Interest, if any, on the Notes except in the case of a
sale, assignment, transfer, conveyance or other disposition of all of the Company’s assets that
meets the requirements of Section 5.01.




ARTICLE 6




DEFAULTS AND REMEDIES



     Section 6.01
Events of Default.




     (a) An “Event of Default” wherever used herein, means any one of the following events
(whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or
be effected by operation of law or pursuant to any judgment, decree or order of any court or any
order, rule or regulation of any administrative or governmental body):




     (1) default in any payment of interest or Additional Interest (as required by the
Registration Rights Agreement) on any Note when due, continued for 30 days;




     (2) default in the payment of principal of or premium, if any, on any Note when due at
its Stated Maturity, upon optional redemption, upon required repurchase, upon declaration of
acceleration or otherwise;




     (3) failure by the Company to comply with its obligations under Section 5.01 (other
than its obligations under clause (5) of Section 5.01(a)) or the failure by any Subsidiary
Guarantor to comply with its obligations under clauses (1)(b), (1)(c), (1)(d) and (2) of
Section 5.01(b), in each case continued for 30 days;




     (4) failure by the Company or any Subsidiary Guarantor to comply for 30 days after
notice as provided below with any of its obligations under Sections 4.10 and 4.14 (in each
case, other than (a) a failure to purchase Notes which constitutes an Event of Default under
clause (2) above or (b) a failure to comply with Section 5.01 which constitutes an Event of
Default under Clause (3) above);




     (5) subject to Section 6.01(c) and Section 6.01(d), failure by the Company to comply
for 60 days after notice as provided below with Section 4.03;




     (6) failure by the Company or any Subsidiary Guarantor to comply for 60 days after
notice as provided below with its other covenants and agreements contained in this
Indenture;




     (7) default by the Company or any Restricted Subsidiary under any mortgage, indenture
or instrument under which there may be issued or by which there may be secured or evidenced
any Indebtedness for money borrowed by the Company or any of its Restricted Subsidiaries (or
the payment of which is guaranteed by the Company or any of its Restricted Subsidiaries),
other than Indebtedness owed to the Company or a Restricted Subsidiary, whether such
Indebtedness or Guarantee exists on the Issue Date or is created after the Issue Date, which
default:




     (i) is caused by a failure, after the expiration of the grace period provided
in such Indebtedness, to pay principal of, or interest or premium, if any, on such
Indebtedness (“payment default”); or




     (ii) results in the acceleration of such Indebtedness prior to its maturity;




and, in each case, the principal amount of any such Indebtedness, together with the
principal amount of any other such Indebtedness under which there has been a payment default
or the maturity of which has been so accelerated, aggregates $35.0 million or more;



-68-









 






     (8) the Company or a Significant Subsidiary or group of Restricted Subsidiaries that,
taken together (as of the latest audited consolidated financial statements for the Company
and its Restricted Subsidiaries), would constitute a Significant Subsidiary pursuant to or
within the meaning of any Bankruptcy Law:




     (i) commences a voluntary case or proceeding with respect to itself;




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




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




     (iv) makes a general assignment for the benefit of its creditors, or takes any
comparable action under any foreign laws relating to insolvency;




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




     (i) is for relief against the Company or any Significant Subsidiary or a group
of Restricted Subsidiaries that, taken together (as of the latest audited financial
statements for the Company and its Restricted Subsidiaries), would constitute a
Significant Subsidiary, in an involuntary case;




     (ii) appoints a Bankruptcy Custodian of the Company, any Significant Subsidiary
or a group of Restricted Subsidiaries that, taken together (as of the latest audited
financial statements for the Company and its Restricted Subsidiaries), would
constitute a Significant Subsidiary, for substantially all of its property; or




     (iii) orders the winding up or liquidation of the Company, any Significant
Subsidiary or a group of Restricted Subsidiaries that, taken together (as of the
latest audited financial statements for the Company and its Restricted
Subsidiaries), would constitute a Significant Subsidiary;




or any similar relief is granted under any foreign laws and the order, decree or relief
remains unstayed and in effect for 60 consecutive days;




     (10) failure by the Company or any Restricted Subsidiary or group of Restricted
Subsidiaries that, taken together (as of the latest audited consolidated financial
statements for the Company and its Restricted Subsidiaries), would constitute a Significant
Subsidiary to pay final judgments aggregating in excess of $35.0 million (net of any amounts
that are covered by insurance provided by a reputable and creditworthy insurance company),
which judgments are not paid, discharged or stayed for a period of 60 consecutive days; or




     (11) any Subsidiary Guarantee of a Significant Subsidiary or group of Restricted
Subsidiaries that taken together as of the latest audited consolidated financial statements
for the Company and its Restricted Subsidiaries would constitute a Significant Subsidiary
ceases to be in full force and effect (except as contemplated by the terms of this
Indenture) or is declared null and void in a judicial proceeding or any Subsidiary Guarantor
that is a Significant Subsidiary or group of Subsidiary Guarantors that taken together as of
the latest audited consolidated financial statements of the Company and its Restricted
Subsidiaries would constitute a Significant Subsidiary denies or disaffirms its obligations
under this Indenture or its Subsidiary Guarantee.



     (b) However, a default under clauses (4), (5) and (6) of Section 6.01(a) shall not constitute
an Event of Default until the Trustee or the Holders of 25% in aggregate principal amount of the
then outstanding Notes provide



-69-









 




written notice to the Company of the default and the Company does not cure such default within the
time specified in clauses (4), (5) and (6) of Section 6.01(a) after receipt of such notice.




     (c) Notwithstanding the foregoing, at the election of the Company, the sole remedy for an
Event of Default relating to the failure to comply with Section 4.03 shall, for the first 120 days
after the occurrence of such an Event of Default, consist exclusively of the right to receive
additional interest on the Notes at an annual rate equal to 0.25% of the principal amount of the
Notes. If the Company so elects, such additional interest shall accrue on all outstanding Notes
from and including the date on which the Event of Default relating to the failure to comply with
the reporting obligations in this Indenture first occurs to but not including the earlier of (a)
the 120th day thereafter or (b) the date on which such Event of Default is cured or waived by the
Holders of a majority in principal amount of the outstanding Notes. On such 120th day (or earlier,
if the Event of Default relating to the reporting obligations under this Indenture is cured or
waived by the Holders of a majority in principal amount of the outstanding Notes prior to such
120th day), such additional interest shall cease to accrue and, if the Event of Default relating to
reporting obligations has not been cured or waived prior to such 120th day, the Notes shall be
subject to acceleration as provided in Section 6.02. The provisions of this Indenture described in
this Section 6.01(c) shall not affect the rights of Holders of Notes in the event of the occurrence
of any other Event of Default. In the event the Company does not elect to pay the additional
interest upon an Event of Default in accordance with this Section 6.01(c), the Notes shall be
subject to acceleration as provided in Section 6.02.



     (d) In order to elect to pay the additional interest on the Notes as the sole remedy during
the first 120 days after the occurrence of an Event of Default relating to the failure to comply
with Section 4.03 in accordance with Section 6.01(c), the Company shall notify all Holders of Notes
and the Trustee and Paying Agent of such election on or before the close of business on the date on
which such Event of Default first occurs. The Company may make such an election with respect to
the Notes.



     Section 6.02
Acceleration.




     (a) If an Event of Default (other than an Event of Default described in Section 6.01(a)(8) or
(9) with respect to the Company) occurs and is continuing, the Trustee by notice in writing
specifying the Event of Default and that it is a “notice” to the Company, or the Holders of at
least 25% in aggregate principal amount of the then outstanding Notes by notice to the Company and
the Trustee, may declare the principal of, premium, if any, and accrued and unpaid interest, if
any, on all the Notes to be due and payable. Upon such a declaration, such principal, premium and
accrued and unpaid interest shall be due and payable immediately.



     (b) In the event of a declaration of acceleration of the Notes because an Event of Default
described in clause (7) under Section 6.01(a) has occurred and is continuing, the declaration of
acceleration of the Notes shall be automatically annulled if the default triggering such Event of
Default pursuant to clause (7) of Section 6.01(a) shall be remedied or cured by the Company or a
Restricted Subsidiary or waived by the Holders of the relevant Indebtedness within 20 days after
the declaration of acceleration with respect thereto and if (1) the annulment of the acceleration
of the Notes would not conflict with any judgment or decree of a court of competent jurisdiction
and (2) all existing Events of Default, except nonpayment of principal, premium or interest on the
Notes that became due solely because of the acceleration of the Notes, have been cured or waived.



     (c) If an Event of Default described in Section 6.01(a)(8) or (9) occurs and is continuing
with respect to the Company, the principal of, premium, if any, and accrued and unpaid interest on
all the Notes shall become and be immediately due and payable without any declaration or other act
on the part of the Trustee or any Holders.



     Section 6.03
Other Remedies.




     Subject to Section 6.01(c), if an Event of Default occurs and is continuing, the Trustee may
pursue any available remedy to collect the payment of principal, premium, if any, Additional
Interest, if any, and interest on the Notes or to enforce the performance of any provision of the
Notes or this Indenture.



     The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not
produce any of them in the proceeding. A delay or omission by the Trustee or any Holder of a Note
in exercising any right



-70-









 





or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a
waiver of or acquiescence in the Event of Default. All remedies are cumulative to the extent
permitted by law.




     Section 6.04 Waiver of Past Defaults.




     The Holders of a majority in aggregate principal amount of the then outstanding Notes may
waive all past defaults (except with respect to a continuing Default or Event of Default with
respect to nonpayment of principal, premium or interest on the Notes) and rescind any such
acceleration with respect to the Notes and its consequences if (1) rescission would not conflict
with any judgment or decree of a court of competent jurisdiction and (2) all existing Events of
Default, other than the nonpayment of the principal of, premium, if any, and interest on the Notes
that have become due solely by such declaration of acceleration, have been cured or waived.



     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
6.05 Control by Majority.




     Subject to the express terms of this Indenture, including, without limitation, Sections
7.02(f), 7.02(k) and 7.07, the Holders of a majority in aggregate principal amount of the then
outstanding Notes are given the right to direct the time, method and place of conducting any
proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on
the Trustee. The Trustee, however, may refuse to follow any direction that conflicts with law or
this Indenture or that the Trustee determines is unduly prejudicial to the rights of any other
Holder or that would involve the Trustee in personal liability; provided, however, that the Trustee
may take any other action deemed proper by the Trustee that is not inconsistent with such
direction. Prior to taking any action under this Indenture, the Trustee shall be entitled to
indemnification from the Holders satisfactory to it in its sole discretion against all losses and
expenses caused by taking or not taking such action.



     Section
6.06 Limitation on Suits.




     Subject to Section 6.07, no Holder of a Note may pursue any remedy with respect to this
Indenture or the Notes unless:




     (1) such Holder has previously given the Trustee written notice that an Event of
Default is continuing;




     (2) Holders of at least 25% in aggregate principal amount of the then outstanding Notes
have requested the Trustee, by notice in writing, to pursue the remedy;




     (3) such Holders have offered the Trustee reasonably satisfactory security or indemnity
against any loss, liability or expense;




     (4) the Trustee has not complied with such request within 60 days after the receipt of
the request and the offer of security or indemnity; and




     (5) the Holders of a majority in aggregate principal amount of the then outstanding
Notes have not given the Trustee a direction that, in the opinion of the Trustee, is
inconsistent with such request within such 60-day period.



     A Holder of a Note may not use this Indenture to prejudice the rights of another Holder of a
Note or to obtain a preference or priority over another Holder of a Note.







-71-









 






     Section
6.07 Rights of Holders of Notes to Receive Payment.





     Notwithstanding any other provision of this Indenture, the right of any Holder of a Note to
receive payment of principal of, premium, if any, and Additional Interest, if any, and interest on
the Note, on or after the respective due dates expressed in the Note (including in connection with
an Asset Sale Offer or a Change of Control Offer), or to bring suit for the enforcement of any such
payment on or after such respective dates, shall not be impaired or affected without the consent of
such Holder.



     Section
6.08 Collection Suit by Trustee.




     If an Event of Default specified in Section 6.01(a)(1) or (2) occurs and is continuing, the
Trustee is authorized to recover judgment in its own name and as trustee of an express trust
against the Company for the whole amount of principal of, premium, if any, and Additional Interest,
if any, and interest remaining unpaid on the Notes and interest on overdue principal and, to the
extent lawful, interest and 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.



     Section
6.09 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 proceedings, 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 has 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 Notes in Section 2.07, and except as set forth in Section 6.01(c), no
right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to
be exclusive of any other right or remedy, and every right and remedy shall, to the extent
permitted by law, be cumulative and in addition to every other right and remedy given hereunder or
now or hereafter existing at law or in equity or otherwise. The assertion or employment of any
right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment
of any other appropriate right or remedy.



     Section
6.11 Delay or Omission Not Waiver.




     No delay or omission of the Trustee or of any Holder of any Note 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 Trustee May File Proofs of Claim.




     The Trustee is authorized to file such proofs of claim and other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel) and the Holders of the Notes allowed in any judicial proceedings relative to the Company
(or any other obligor upon the Notes including the Subsidiary Guarantors), their creditors or their
property and shall be entitled and empowered to participate as a member in any official committee
of creditors appointed in such matter and to collect, receive and distribute any money or other
property payable or deliverable on any such claims and any custodian 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 to it for the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under
Section 7.07. To the extent that the payment of any such compensation, expenses, disbursements



-72-









 




and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under
Section 7.07 out of the estate in any such proceeding, shall be denied for any reason, payment of
the same shall be secured by a Lien on, and shall be paid out of, any and all distributions,
dividends, money, securities and other properties that the Holders may be entitled to receive in
such proceeding whether in liquidation or under any plan of reorganization or arrangement or
otherwise. 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 Notes or the rights of any Holder, or to authorize the
Trustee to vote in respect of the claim of any Holder in any such proceeding.




     Section 6.13 Priorities.




     If the Trustee collects any money pursuant to this Article 6, it shall pay out the money in
the following order:




     (i) to the Trustee, its agents and attorneys for amounts due under Section 7.07,
including payment of all compensation, expenses and liabilities incurred, and all advances
made, by the Trustee and the costs and expenses of collection;




     (ii) to Holders of Notes for amounts due and unpaid on the Notes for principal,
premium, if any, and Additional Interest, if any, and interest, ratably, without preference
or priority of any kind, according to the amounts due and payable on the Notes for
principal, premium, if any, and Additional Interest, if any, and interest, respectively; and




     (iii) to the Company or to such party as a court of competent jurisdiction shall direct,
including a Subsidiary Guarantor, if applicable.



     The Trustee may fix a record date and payment date for any payment to Holders of Notes
pursuant to this Section 6.13.



     Section
6.14 Undertaking for Costs.




     In any suit for the enforcement of any right or remedy under this Indenture or in any suit
against the Trustee for any action taken or omitted by it as a Trustee, a court in its discretion
may require the filing by any party litigant in the suit of an undertaking to pay the costs of the
suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’
fees, against any party litigant in the suit, having due regard to the merits and good faith of the
claims or defenses made by the party litigant. This Section 6.14 does not apply to a suit by the
Trustee, a suit by a Holder of a Note pursuant to Section 6.07, or a suit by Holders of more than
10% in principal amount of the then outstanding Notes.



ARTICLE 7




TRUSTEE



     Section 7.01 Duties of Trustee.




     (a) In the case of an Event of Default known to the Trustee to have occurred and be
continuing, the Trustee shall exercise such of the rights and powers vested in it by this
Indenture, and use the same degree of care and skill in its exercise as a prudent person would
exercise or use under the circumstances in the conduct of such person’s own affairs.



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




     (1) the duties of the Trustee shall be determined solely by the express provisions of
this Indenture and the Trustee need perform only those duties that are specifically set
forth in this Indenture and no others, and no implied covenants or obligations shall be read
into this Indenture against the Trustee; and



-73-









 






     (2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the requirements of this
Indenture. However, in the case of any such certificates or opinions which by any provision
are specifically required to be furnished to the Trustee, the Trustee shall examine the
certificates and opinions to determine whether or not they conform to the requirements of
this Indenture (but need not confirm or investigate the accuracy of mathematical
calculations or other facts stated therein).



     (c) The Trustee may not be relieved from liabilities for its own negligent action, its own
negligent failure to act, or its own willful misconduct, except that:




     (i) this Section 7.01(c) does not limit the effect of Section 7.01(b);




     (ii) the Trustee shall not be liable for any error of judgment made in good faith by a
Trust Officer, unless it is proved in a court of competent jurisdiction that the Trustee was
negligent in ascertaining the pertinent facts; and




     (iii) the Trustee shall not be liable with respect to any action it takes or omits to
take in good faith in accordance with a direction received by it pursuant to Section 6.05.



     (d) Whether or not therein expressly so provided, every provision of this Indenture that in
any way relates to the Trustee is subject to clauses (a), (b) and (c) of this Section 7.01.



     (e) The Trustee shall be under no obligation to exercise any of its rights or powers under
this Indenture at the request or direction of any of the Holders of the Notes unless the Holders
have offered to the Trustee indemnity or security 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.



     Section
7.02 Rights of Trustee.




     (a) The Trustee may conclusively rely upon any document believed by it to be genuine and to
have been signed or presented by the proper Person. The Trustee need not investigate any fact or
matter stated in the document, but the Trustee, in its discretion, may make such further inquiry or
investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to
make such further inquiry or investigation, it shall be entitled, upon reasonable notice to the
Company and during normal business hours, to examine the books, records and premises of the
Company, personally or by agent or attorney and shall incur no liability or additional liability of
any kind by reason of such inquiry or investigation. Any permissive right or authority granted to
the Trustee shall not be construed as a mandatory duty.



     (b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate
or an Opinion of Counsel or both subject to the other provisions of this Indenture. 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. The Trustee may consult with counsel of its selection
and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization
and protection from liability in respect of any action taken, suffered or omitted by it hereunder
in good faith and in reliance thereon.



     (c) The Trustee may act through its attorneys and agents and shall not be responsible for the
misconduct or negligence of any agent or attorney appointed with due care.



     (d) The Trustee shall not be liable for any action it takes or omits to take in good faith
that it believes to be authorized or within the rights or powers conferred upon it by this
Indenture.



-74-









 





     (e) Unless otherwise specifically provided in this Indenture, any demand, request, direction
or notice from the Company shall be sufficient if signed by an Officer of the Company. The Trustee
shall have no duty to inquire as to the performance of, or otherwise monitor compliance with, the
Company’s or any Subsidiary Guarantor’s covenants herein.



     (f) None of the provisions of this Indenture shall require the Trustee to expend or risk its
own funds or otherwise to incur any liability, financial or otherwise, in the performance of any of
its duties hereunder, or in the exercise of any of its rights or powers if it shall have reasonable
grounds for believing that repayment of such funds or indemnity satisfactory to it against such
risk or liability is not assured to it.



     (g) The Trustee shall not be deemed to have notice of any Default or Event of Default unless a
Trust Officer of the Trustee has actual knowledge thereof or unless written notice of any event
which is in fact such a Default is received by the Trustee at the Corporate Trust Office of the
Trustee, and such notice references the existence of a Default or Event of Default, the Notes and
this Indenture.



     (h) In no event shall the Trustee be responsible or liable for punitive, special, indirect, or
consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit)
irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and
regardless of the form of action.



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



     (j) In the event the Company is required to pay Additional Interest, the Company will provide
written notice to the Trustee of the Company’s obligation to pay Additional Interest no later than
15 days prior to the next Interest Payment Date, which notice shall set forth the amount of the
Additional Interest to be paid by the Company. The Trustee shall not at any time be under any duty
or responsibility to any Holders to determine whether the Additional Interest is payable and the
amount thereof.



     (k) The Trustee shall not be required to give any bond or surety in respect of the performance
of its powers or duties.



     (l) The Trustee may request that the Company deliver an Officers’ Certificate setting forth
the names of individuals and/or titles of officers authorized at such time to take specified
actions pursuant to this Indenture, which Officers’ Certificate may be signed by any person
authorized to sign an Officers’ Certificate, including any Person specified as so authorized in any
such certificate previously delivered and not superseded.



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



     Section
7.03 Individual Rights of Trustee.




     The Trustee in its individual or any other capacity may become the owner or pledgee of Notes
and may otherwise deal with the Company or any Affiliate of the Company with the same rights it
would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting
interest it must eliminate such conflict within 90 days, apply to the SEC for permission to
continue as trustee or resign. Any Agent may do the same with like rights and duties. The Trustee
is also subject to Sections 7.10 and 7.11.



     Section
7.04 Trustee’s Disclaimer.




     The Trustee shall not be responsible for and makes no representation as to the validity or
adequacy of this Indenture or the Notes; it shall not be accountable for the Company’s use of the
proceeds from the Notes or any money paid to the Company or upon the Company’s direction under any
provision of this Indenture; it shall not be responsible for the use or application of any money
received by any Paying Agent other than the Trustee; and it shall not be responsible for any
statement or recital herein or any statement in the Notes or any other document in connection with
the sale of the Notes or pursuant to this Indenture other than its certificate of authentication.



-75-









 





     Section 7.05 Notice of Defaults.




     If a Default occurs and is continuing and is known to the Trustee, the Trustee shall mail to
each Holder notice of the Default within 90 days after it occurs. Except in the case of a Default
in the payment of principal of, premium, if any, or interest on any Note, the Trustee may withhold
notice if and so long as a committee of Trust Officers of the Trustee in good faith determines that
withholding notice is in the interests of the Holders. In addition, the Company shall deliver to
the Trustee, within 120 days after the end of each fiscal year, a certificate indicating whether
the signers thereof know of any Default that occurred during the previous year.



     Section 7.06 Reports by Trustee to Holders of the Notes.




     Within 60 days after each May 15, beginning with the May 15 following the date of this
Indenture, and for so long as Notes remain outstanding, the Trustee shall mail to the Holders of
the Notes a brief report dated as of such reporting date that complies with Trust Indenture Act
Section 313(a) (but if no event described in Trust Indenture Act Section 313(a) has occurred within
the twelve months preceding the reporting date, no report need be transmitted). The Trustee also
shall comply with Trust Indenture Act Section 313(b)(2). The Trustee shall also transmit by mail
all reports as required by Trust Indenture Act Section 313(c).



     A copy of each report at the time of its mailing to the Holders of Notes shall be mailed to
the Company and filed with the SEC and each stock exchange on which the Notes are listed in
accordance with Trust Indenture Act Section 313(d). The Company shall promptly notify the Trustee
when the Notes are listed on any stock exchange.



     Section 7.07 Compensation and Indemnity.




     The Company and the Subsidiary Guarantors, jointly and severally, shall pay to the financial
institution acting as Trustee from time to time such compensation for its acceptance of this
Indenture and services hereunder as the parties shall agree in writing from time to time. Such
compensation shall not be limited by any law on compensation of a trustee of an express trust. The
Company shall reimburse the financial institution acting as Trustee promptly upon request for all
reasonable disbursements, advances and expenses incurred or made by it in addition to the
compensation for its services. Such expenses shall include the reasonable compensation,
disbursements and expenses of the Trustee’s agents and counsel.



     The Company and the Subsidiary Guarantors, jointly and severally, shall indemnify the
financial institution acting as Trustee for, and hold it harmless against, any and all loss,
damage, claims, liability or expense (including the fees and expenses of its agents and counsel)
incurred by it in connection with the acceptance or administration of this trust and the
performance of its duties hereunder (including the costs and expenses of enforcing this Indenture
against the Company or any of the Subsidiary Guarantors (including this Section 7.07) or defending
itself against any claim whether asserted by any Holder, the Company or any Subsidiary Guarantor,
or liability in connective with the acceptance, exercise or performance of any of its powers or
duties hereunder). The Trustee shall notify the Company promptly of any claim for which it may
seek indemnity. Failure by the Trustee to so notify the Company shall not relieve the Company of
its obligations hereunder. The Company shall defend the claim at the request of the Trustee and
the Trustee may have separate counsel and the Company shall pay the reasonable fees and expenses of
such counsel. Notwithstanding the foregoing, neither the Company nor any Subsidiary Guarantor
shall be required to reimburse any expense or indemnify against any loss, damage, claim, liability
or expense incurred by the Trustee through the Trustee’s own willful misconduct, negligence or bad
faith. Neither the Company nor any Subsidiary Guarantor shall be required to indemnify the Trustee
with respect to any settlement made without the consent of the Company, which consent will not be
unreasonably withheld.



     The obligations of the Company under this Section 7.07 shall survive the satisfaction and
discharge of this Indenture or the earlier resignation or removal of the Trustee.



     To secure the payment obligations of the Company and the Subsidiary Guarantors in this Section
7.07, the financial institution acting as Trustee shall have a Lien prior to the Notes on all money
or property held or collected by the Trustee, except that held in trust to pay principal and
interest on particular Notes. Such Lien shall survive the satisfaction and discharge of this
Indenture.



-76-









 





     When the Trustee incurs expenses or renders services after an Event of Default specified in
Section 6.01(a)(8) occurs, the expenses and the compensation for the services (including the fees
and expenses of its agents and counsel) are intended to constitute expenses of administration under
any Bankruptcy Law.



     The Trustee shall comply with the provisions of Trust Indenture Act Section 313(b)(2) to the
extent applicable.



     Section 7.08 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
7.08. The Trustee may resign in writing at any time and be discharged from the trust hereby
created by so notifying the Company. The Holders of a majority in principal amount of the then
outstanding Notes may remove the Trustee by so notifying the Trustee and the Company in writing.
The Company may remove the Trustee if:




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




     (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 Notes may appoint a successor Trustee to replace the successor Trustee appointed by the
Company.



     If a successor Trustee does not take office within 60 days after the retiring Trustee resigns
or is removed, the retiring Trustee (at the Company’s expense), the Company or the Holders of at
least 10% in principal amount of the then outstanding Notes may petition any court of competent
jurisdiction for the appointment of a successor Trustee.



     If the Trustee, after written request by any Holder who has been a Holder for at least six
months, fails to comply with Section 7.10, such Holder 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. Thereupon, the resignation or removal of the retiring Trustee shall
become effective, and the successor Trustee shall have all the rights, powers and duties of the
Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to
Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the
successor Trustee; provided all sums owing to the Trustee hereunder have been paid and subject to
the Lien provided for in Section 7.07. Notwithstanding replacement of the Trustee pursuant to this
Section 7.08, the Company’s obligations under Section 7.07 shall continue for the benefit of the
retiring Trustee.



     Section 7.09 Successor Trustee by Merger, Etc.




     If the Trustee consolidates, 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.




     There shall at all times be a Trustee hereunder that is a corporation organized and doing
business under the laws of the United States of America or of any state thereof that is authorized
under such laws to exercise corporate



-77-









 




trustee power, that is subject to supervision or examination by federal or state authorities and
that has a combined capital and surplus of at least $50,000,000 as set forth in its most recent
published annual report of condition.




     This Indenture shall always have a Trustee who satisfies the requirements of Trust Indenture
Act Sections 310(a)(1), (2) and (5). The Trustee is subject to Trust Indenture Act Section 310(b).



     Section 7.11 Preferential Collection of Claims Against the Company.




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



ARTICLE 8




LEGAL DEFEASANCE AND COVENANT DEFEASANCE



     Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance.




     The Company may, at its option and at any time, elect to have either Section 8.02 or 8.03
applied to all outstanding Notes upon compliance with the conditions set forth below in this
Article 8.



     Section 8.02 Legal Defeasance and Discharge.




     Upon the Company’s exercise under Section 8.01 of the option applicable to this Section 8.02,
the Company and the Subsidiary Guarantors shall, subject to the satisfaction of the conditions set
forth in Section 8.04, be deemed to have been discharged from their obligations with respect to all
outstanding Notes and Subsidiary Guarantees on the date the conditions set forth below are
satisfied (“Legal Defeasance”). For this purpose, Legal Defeasance means that the Company
shall be deemed to have paid and discharged the entire Indebtedness represented by the outstanding
Notes, which shall thereafter be deemed to be “outstanding” only for the purposes of Section 8.05
and the other Sections of this Indenture referred to in (a) and (b) below, and to have satisfied
all of its other obligations under such Notes, the Subsidiary Guarantees and this Indenture
including that of the Subsidiary Guarantors (and the Trustee, on demand of and at the expense of
the Company, shall execute proper instruments acknowledging the same), except for the following
provisions which shall survive until otherwise terminated or discharged hereunder:




     (a) the rights of Holders of outstanding Notes to receive payments in respect of the
principal of, or interest or premium, if any, and Additional Interest, if any, on such Notes
when such payments are due from the trust referred to in Section 8.04;




     (b) the Company’s obligations with respect to the Notes concerning issuing temporary
Notes, registration of Notes, mutilated, destroyed, lost or stolen Notes and the maintenance
of an office or agency for payment and money for security payments held in trust;




     (c) the rights, powers, trusts, duties and immunities of the Trustee hereunder, and the
Company’s obligations in connection therewith; and




     (d) this Section 8.02.



     If the Company exercises the Legal Defeasance option, the Subsidiary Guarantees in effect at
such time shall terminate.



     Subject to compliance with this Article 8, the Company may exercise its option under this
Section 8.02 notwithstanding the prior exercise of its option under Section 8.03. If the Company
exercises its Legal Defeasance option, payment of the Notes may not be accelerated because of an
Event of Default with respect to the Notes.



-78-









 





     Section 8.03 Covenant Defeasance.




     Upon the Company’s exercise under Section 8.01 of the option applicable to this Section 8.03,
the Company and the Subsidiary Guarantors shall, subject to the satisfaction of the conditions set
forth in Section 8.04, be released from their obligations under the covenants contained in Sections
4.03, 4.04, 4.05, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.14, 4.15 and 4.17 and clause (4) of Section
5.01(a) and clause (1)(b), (1)(c), (1)(d) and (2) of Section 5.01(b) with respect to the
outstanding Notes on and after the date the conditions set forth in Section 8.04 are satisfied
(“Covenant Defeasance”), and the Notes shall thereafter be deemed not “outstanding” for the
purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences
of any thereof) in connection with such covenants, but shall continue to be deemed “outstanding”
for all other purposes hereunder. For this purpose, Covenant Defeasance means that, with respect
to the outstanding Notes, the Company and the Subsidiary Guarantors may omit to comply with and
shall have no liability in respect of any term, condition or limitation set forth in any such
covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such
covenant or by reason of any reference in any such covenant to any other provision herein or in any
other document and such omission to comply shall not constitute a Default or an Event of Default
under Section 6.01, but, except as specified above, the remainder of this Indenture and such Notes
shall be unaffected thereby. In addition, upon the Company’s exercise under Section 8.01 of the
option applicable to this Section 8.03, subject to the satisfaction of the conditions set forth in
Section 8.04, Sections 6.01(4), 6.01(5), 6.01(6), 6.01(7), 6.01(8) (with respect only to
Significant Subsidiaries or any group of Restricted Subsidiaries that taken together would
constitute a Significant Subsidiary), 6.01(9) (with respect only to Significant Subsidiaries or any
group of Restricted Subsidiaries that taken together would constitute a Significant Subsidiary),
6.01(10) (with respect only to Significant Subsidiaries or any group of Restricted Subsidiaries
that taken together would constitute a Significant Subsidiary), 6.01(11) or because of the failure
to comply with Section 5.01(a)(4) shall not constitute Events of Default.



     Section 8.04 Conditions to Legal or Covenant Defeasance.




     The following shall be the conditions to the application of either Section 8.02 or 8.03 to the
outstanding Notes:



     In order to exercise either Legal Defeasance or Covenant Defeasance with respect to the Notes:




     (1) the Company must irrevocably deposit with the Trustee, in trust, for the benefit of
the Holders of the Notes, cash in U.S. dollars, non-callable U.S. Government Obligations, or
a combination of cash in U.S. dollars and non-callable U.S. Government Obligations, in
amounts as shall be sufficient, in the opinion of a nationally recognized firm of
independent public accountants, to pay the principal of, or interest and premium and
Additional Interest, if any, on the outstanding Notes on the Stated Maturity or on the
applicable redemption date, as the case may be, and the Company must specify whether the
Notes are being defeased to maturity or to a particular redemption date;




     (2) in the case of Legal Defeasance, the Company has delivered to the Trustee an
Opinion of Counsel reasonably acceptable to the Trustee confirming that (a) the Company has
received from, or there has been published by, the Internal Revenue Service a ruling or (b)
since the date of this Indenture, there has been a change in the applicable federal income
tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall
confirm that, the Holders of the respective outstanding Notes shall not recognize income,
gain or loss for federal income tax purposes as a result of such Legal Defeasance and shall
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 Legal Defeasance had not occurred;




     (3) in the case of Covenant Defeasance, the Company has delivered to the Trustee an
Opinion of Counsel reasonably acceptable to the Trustee confirming that the Holders of the
respective outstanding Notes shall not recognize income, gain or loss for federal income tax
purposes as a result of such Covenant Defeasance and shall be subject to federal income tax
on the same amounts, in the same manner and at the same times as would have been the case if
such Covenant Defeasance had not occurred;



-79-









 







     (4) such Legal Defeasance or Covenant Defeasance shall not result in a breach or
violation of, or constitute a default under any material agreement or instrument (excluding
this Indenture) to which the Company or any of its Restricted Subsidiaries is a party or by
which the Company or any of its Restricted Subsidiaries is bound;




     (5) no Default or Event of Default has occurred and is continuing on the date of such
deposit (other than a Default or Event of Default resulting from the borrowing of funds to
be applied to such deposit and the grant of any Lien securing such borrowings);




     (6) the Company must deliver to the Trustee an Officers’ Certificate stating that the
deposit was not made by the Company with the intent of defeating, hindering, delaying or
defrauding creditors of the Company or others; and




     (7) the Company must deliver to the Trustee an Officers’ Certificate and an Opinion of
Counsel (which Opinion of Counsel may be subject to customary assumptions and exclusions),
each stating that all conditions precedent relating to the Legal Defeasance or the Covenant
Defeasance have been complied with.



     Section 8.05 Deposited Money and U.S. Government Obligations to Be Held in Trust; Other Miscellaneous
Provisions.




     Subject to Section 8.06, all money and U.S. Government Obligations (including the proceeds
thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this
Section 8.05, the “Trustee”) pursuant to Section 8.04 in respect of the outstanding Notes
shall be held in trust and applied by the Trustee, in accordance with the provisions of such Notes
and this Indenture, to the payment, either directly or through any Paying Agent (including the
Company or a Subsidiary Guarantor acting as Paying Agent) as the Trustee may determine, to the
Holders of such Notes of all sums due and to become due thereon in respect of principal, premium
and Additional Interest, if any, and interest, but such money need not be segregated from other
funds except to the extent required by law.



     The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the cash or U.S. Government Obligations deposited pursuant to Section 8.04
or the principal and interest received in respect thereof other than any such tax, fee or other
charge which by law is for the account of the Holders of the outstanding Notes.



     Anything in this Article 8 to the contrary notwithstanding, the Trustee shall deliver or pay
to the Company from time to time upon the request of the Company any money or U.S. Government
Obligations held by it as provided in Section 8.04 which, in the opinion of a nationally recognized
firm of independent public accountants expressed in a written certification thereof delivered to
the Trustee (which may be the opinion delivered under Section 8.04(1)), are in excess of the amount
thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or
Covenant Defeasance.



     Section 8.06 Repayment to the Company.




     Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in
trust for the payment of the principal of, premium and Additional Interest, if any, or interest on
any Note and remaining unclaimed for two years after such principal, and premium and Additional
Interest, if any, or interest has become due and payable shall be paid to the Company on its
request or (if then held by the Company) shall be discharged from such trust; and the Holder of
such Note shall thereafter look only to the Company for payment thereof, and all liability of the
Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as
trustee thereof, shall thereupon cease.



     Section 8.07 Reinstatement.




     If the Trustee or Paying Agent is unable to apply any United States dollars or U.S. Government
Obligations in accordance with Section 8.02 or 8.03, as the case may be, by reason of any order or
judgment of any court or gov-



-80-









 




ernmental authority enjoining, restraining or otherwise prohibiting such application, then the
Company’s obligations under this Indenture and the Notes shall be revived and reinstated as though
no deposit had occurred pursuant to Section 8.02 or 8.03 until such time as the Trustee or Paying
Agent is permitted to apply all such money in accordance with Section 8.02 or 8.03, as the case may
be; provided that, if the Company makes any payment of principal of, premium and Additional
Interest, if any, or interest on any Note following the reinstatement of its obligations, the
Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from
the money held by the Trustee or Paying Agent.




ARTICLE 9




AMENDMENT, SUPPLEMENT AND WAIVER



     Section 9.01 Without Consent of Holders of Notes.




     Notwithstanding Section 9.02, the Company, any Subsidiary Guarantor (with respect to its
Subsidiary Guarantee or this Indenture) and the Trustee may amend or supplement this Indenture, any
Subsidiary Guarantee or the Notes without the consent of any Holder to:




     (1) cure any ambiguity, omission, defect, mistake or inconsistency;




     (2) provide for the assumption by a successor entity (or co-issuer) of the obligations
of the Company or any Subsidiary Guarantor under this Indenture (whether through merger,
consolidation, sale of all or substantially all of assets, properties or otherwise);




     (3) provide for uncertificated Notes in addition to or in place of certificated Notes
(provided that the uncertificated Notes are issued in registered form for purposes of
Section 163(f) of the Code, or in a manner such that the uncertificated Notes are described
in Section 163(f)(2)(B) of the Code);




     (4) add Subsidiary Guarantees with respect to the Notes or release a Subsidiary
Guarantor from its obligations under its Subsidiary Guarantee or this Indenture in
accordance with the applicable provisions of this Indenture;




     (5) secure the Notes;




     (6) add to the covenants of the Company for the benefit of the Holders or surrender any
right or power conferred upon the Company;




     (7) make any change that does not materially adversely affect the rights of any Holder
under this Indenture;




     (8) comply with any requirement of the SEC in connection with the qualification of this
Indenture under the Trust Indenture Act;




     (9) provide for the appointment of a successor trustee; provided that the successor
trustee is otherwise qualified and eligible to act as such under the terms of this
Indenture;




     (10) provide for the issuance of Additional Notes under this Indenture;




     (11) comply with the provisions described under Article 10 or Section 4.15;




     (12) provide for the issuance of exchange securities which shall have terms
substantially identical in all respects to the Notes (except that the transfer restrictions
contained in the Notes shall be modified or eliminated as appropriate) and which shall be
treated, together with any outstanding Notes, as a single class of securities; or



-81-









 






     (13) conform the text of this Indenture, the Notes or the Subsidiary Guarantees to any
provision of the “Description of notes” section of the Offering Memorandum to the extent
that such provision in such “Description of notes” section was intended to be a verbatim
recitation of a provision of this Indenture, the Notes or the Subsidiary Guarantees (as
certified in an Officers’ Certificate delivered to the Trustee).



     After an amendment or supplement under this Indenture becomes effective, the Company is
required to mail to the Holders a notice briefly describing such amendment or supplement. However,
the failure to give such notice to all the Holders, or any defect in the notice, shall not impair
or affect the validity of the amendment or supplement.



     Upon the request of the Company accompanied by a resolution of its Board of Directors
authorizing the execution of any such amended or supplemental indenture, and upon receipt by the
Trustee of the documents described in Section 12.04, the Trustee shall join with the Company and
the Subsidiary Guarantors in the execution of any amended or supplemental indenture authorized or
permitted by the terms of this Indenture and to make any further appropriate agreements and
stipulations that may be therein contained, but the Trustee shall not be obligated to enter into
such amended or supplemental indenture that affects its own rights, duties or immunities under this
Indenture or otherwise.



     Section 9.02 With Consent of Holders of Notes.




     Except as provided below in this Section 9.02, the Company, the Subsidiary Guarantors (as
applicable) and the Trustee may amend or supplement this Indenture, any Subsidiary Guarantee and
the Notes with the consent of the Holders of a majority in aggregate principal amount of the then
outstanding Notes (including Additional Notes, if any) voting as a single class (including, without
limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer
for, Notes), and, subject to Sections 6.04 and 6.07, any past Default or Event of Default (other
than a Default or Event of Default in the payment of the principal of, premium, if any, and
Additional Interest, if any, or interest on the Notes, except a payment default resulting from an
acceleration that has been rescinded) or compliance with any provision of this Indenture, the
Subsidiary Guarantees or the Notes may be waived with the consent of the Holders of a majority in
principal aggregate amount of the then outstanding Notes (including Additional Notes, if any)
voting as a single class (including consents obtained in connection with the purchase of, or tender
offer or exchange offer for, Notes). Section 2.10 and Section 2.11 shall determine which Notes are
considered to be “outstanding” for the purposes of this Section 9.02.



     Upon the request of the Company accompanied by a resolution of its Board of Directors
authorizing the execution of any such amended or supplemental indenture, and upon the filing with
the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of Notes as
aforesaid, and upon receipt by the Trustee of the documents described in Section 12.04, the Trustee
shall join with the Company in the execution of such amended or supplemental indenture unless such
amended or supplemental indenture directly affects the Trustee’s own rights, duties or immunities
under this Indenture or otherwise, in which case the Trustee may in its discretion, but shall not
be obligated to, enter into such amended or supplemental indenture.



     It shall not be necessary for the consent of the Holders of Notes under this Section 9.02 to
approve the particular form of any proposed amendment or waiver, but it shall be sufficient if such
consent approves the substance thereof. A consent to any amendment, supplement or waiver under
this Indenture by any Holder of Notes given in connection with a tender of such Holder’s Notes
shall not be rendered invalid by such tender.



     After an amendment or supplement under this Section 9.02 becomes effective, the Company shall
mail to the Holders a notice briefly describing such amendment or supplement; provided that the
failure to give such notice to all the Holders, or any defect in the notice will not impair or
affect the validity of the amendment or supplement.



     Without the consent of each adversely affected Holder of Notes, an amendment or waiver under
this Section 9.02 may not (with respect to any Notes held by a non-consenting Holder):




     (1) reduce the amount of Notes whose Holders must consent to an amendment;



-82-









 







     (2) reduce the stated rate of interest or extend the stated interest payment date of
the Notes;




     (3) reduce the principal of or extend the Stated Maturity of any Note;




     (4) waive a Default or Event of Default in the payment of principal of, or interest or
premium, if any, or Additional Interest, if any, on the Notes (except a rescission of
acceleration of the Notes by the Holders of at least a majority in aggregate principal
amount of the then outstanding Notes with respect to a nonpayment default and a waiver of
the payment default that resulted from such acceleration);




     (5) reduce the premium payable upon the redemption or repurchase of any Note or change
the time at which any Note may be redeemed or repurchased as described above under Section
3.07, Section 4.10 or Section 4.14 whether through an amendment or waiver of provisions in
the covenants, definitions or otherwise (except amendments to the definition of “Change of
Control”);




     (6) make any Note payable in money other than that stated in the Note;




     (7) otherwise impair the right of any Holder to receive payment of principal of,
premium, if any, and interest on such Holder’s Notes on or after the due dates therefor or
to institute suit for the enforcement of any payment on or with respect to such Holder’s
Notes;




     (8) make any change in the amendment provisions that require each Holder’s consent or
in the waiver provisions; or




     (9) modify the Subsidiary Guarantees in any manner materially adverse to the Holders
of the Notes.



     Section 9.03 Compliance with Trust Indenture Act.




     Every amendment or supplement to this Indenture or the Notes shall be set forth in an amended
or supplemental indenture that complies with the Trust Indenture Act as then in effect.



     Section 9.04 Revocation and Effect of Consents.




     Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a
Note is a continuing consent by the Holder of a Note and every subsequent Holder of a Note or
portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of
the consent is not made on any Note. However, any such Holder of a Note or subsequent Holder of a
Note may revoke the consent as to its Note if the Trustee receives written notice of revocation
before the date the waiver, supplement or amendment becomes effective. An amendment, supplement or
waiver becomes effective in accordance with its terms and thereafter binds every Holder.



     Section 9.05 Notation on or Exchange of Notes.




     The Trustee may place an appropriate notation about an amendment, supplement or waiver on any
Note thereafter authenticated. The Company in exchange for all Notes may issue and the Trustee
shall, upon receipt of an Authentication Order, authenticate new Notes that reflect the amendment,
supplement or waiver.



     Failure to make the appropriate notation or issue a new Note shall not affect the validity and
effect of such amendment, supplement or waiver.



     Section 9.06 Trustee to Sign Amendments, Etc.




     The Trustee shall sign any amendment, supplement or waiver authorized pursuant to this Article
9 if the amendment or supplement does not adversely affect the rights, duties, liabilities or
immunities of the Trustee. The Company may not sign an amendment, supplement or waiver until its
Board of Directors approves it. In executing



-83-









 




any amendment, supplement or waiver, the Trustee shall be entitled to receive and (subject to
Section 7.01) shall be fully protected in relying upon, in addition to the documents required by
Section 12.04, an Officers’ Certificate and an Opinion of Counsel stating that the execution of
such amended or supplemental indenture is authorized or permitted by this Indenture and that such
amendment, supplement or waiver is the legal, valid and binding obligation of the Company and any
Subsidiary Guarantors party thereto, enforceable against them in accordance with its terms, subject
to customary exceptions, and complies with the provisions (including Section 9.03).




     Section 9.07 Payment for Consent.




     The Company shall not, and shall not permit any of its Subsidiaries to, directly or
indirectly, pay or cause to be paid any consideration to or for the benefit of any Holder of Notes
for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of
this Indenture or the Notes unless such consideration is offered to be paid and is paid to all
Holders of the Notes that consent, waive or agree to amend in the time frame set forth in the
solicitation documents relating to such consent, waiver or agreement.



ARTICLE 10




SUBSIDIARY GUARANTEES



     Section 10.01 Subsidiary Guarantee.




     Subject to this Article 10, each of the Subsidiary Guarantors shall, jointly and severally,
unconditionally guarantee, on a senior unsecured basis, to each Holder of a Note authenticated and
delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the
validity and enforceability of this Indenture, the Notes or the obligations of the Company
hereunder or thereunder, that: (a) the principal of, premium, if any, or interest on or Additional
Interest, if any, on the Notes shall be promptly paid in full when due, whether at maturity, by
acceleration, redemption or otherwise, and interest on the overdue principal of and interest on the
Notes, if any, if lawful, and all other Obligations of the Company to the Holders or the Trustee
hereunder or thereunder shall be promptly paid in full or performed, all in accordance with the
terms hereof and thereof; and (b) in case of any extension of time of payment or renewal of any
Notes or any of such other obligations, that same shall be promptly paid in full when due or
performed in accordance with the terms of the extension or renewal, whether at Stated Maturity, by
acceleration or otherwise. Failing payment when due of any amount so guaranteed or any performance
so guaranteed for whatever reason, the Subsidiary Guarantors shall be jointly and severally
obligated to pay the same immediately. Each Subsidiary Guarantor agrees that this is a guarantee
of payment and not a guarantee of collection.



     The Subsidiary Guarantors hereby agree that their obligations hereunder shall be
unconditional, irrespective of the validity, regularity or enforceability of the Notes or this
Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of
the Notes with respect to any provisions or thereof, the recovery of any judgment against the
Company, any action to enforce the same or any other circumstance which might otherwise constitute
a legal or equitable discharge or defense of a guarantor. Each Subsidiary Guarantor hereby waives
diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency
or bankruptcy of the Company, any right to require a proceeding first against the Company, protest,
notice and all demands whatsoever and covenants that this Subsidiary Guarantee shall not be
discharged except by complete performance of the obligations contained in the Notes and this
Indenture.



     If any Holder or the Trustee is required by any court or otherwise to return to the Company,
the Subsidiary Guarantors or any custodian, trustee, liquidator or other similar official acting in
relation to the Company or the Subsidiary Guarantors, any amount paid either to the Trustee or such
Holder, this Subsidiary Guarantee, to the extent theretofore discharged, shall be reinstated in
full force and effect.



     Each Subsidiary Guarantor agrees that it shall not be entitled to any right of subrogation in
relation to the Holders in respect of any obligations guaranteed hereby until payment in full of
all obligations guaranteed hereby. Each Subsidiary Guarantor further agrees that, as between the
Subsidiary Guarantors, on the one hand, and the Holders and the Trustee, on the other hand, (x) the
maturity of the obligations guaranteed hereby may be accelerated as provided in Article 6 for the
purposes of this Subsidiary Guarantee, notwithstanding any stay, injunction or other



-84-









 




prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and (y)
in the event of any declaration of acceleration of such obligations as provided in Article 6, such
obligations (whether or not due and payable) shall forthwith become due and payable by the
Subsidiary Guarantors for the purpose of this Subsidiary Guarantee. The Subsidiary Guarantors
shall have the right to seek contribution from any non-paying Subsidiary Guarantor so long as the
exercise of such right does not impair the rights of the Holders under the Subsidiary Guarantees.




     Each Subsidiary Guarantee shall remain in full force and effect and continue to be effective
should any petition be filed by or against the Company for liquidation, reorganization, should the
Company become insolvent or make an assignment for the benefit of creditors or should a receiver or
trustee be appointed for all or any significant part of the Company’s assets, and shall, to the
fullest extent permitted by law, continue to be effective or be reinstated, as the case may be, if
at any time payment and performance of the Notes are, pursuant to applicable law, rescinded or
reduced in amount, or must otherwise be restored or returned by any obligee on the Notes or
Subsidiary Guarantees, whether as a “voidable preference,” “fraudulent transfer” or otherwise, all
as though such payment or performance had not been made. In the event that any payment or any part
thereof, is rescinded, reduced, restored or returned, the Notes shall, to the fullest extent
permitted by law, be reinstated and deemed reduced only by such amount paid and not so rescinded,
reduced, restored or returned.



     In case any provision of any Subsidiary Guarantee 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.



     Each payment to be made by a Subsidiary Guarantor in respect of its Subsidiary Guarantee shall
be made without set-off, counterclaim, reduction or diminution of any kind or nature.



     Section 10.02 Limitation on Subsidiary Guarantor Liability.




     Each Subsidiary Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that
it is the intention of all such parties that the Subsidiary Guarantee of such Subsidiary Guarantor
not constitute a fraudulent transfer or conveyance for purposes of Bankruptcy Law, the Uniform
Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law
to the extent applicable to any Subsidiary Guarantee.



     To effectuate the foregoing intention, the Trustee, the Holders and the Subsidiary Guarantors
hereby irrevocably agree that the obligations of each Subsidiary Guarantor under its Subsidiary
Guarantee will be limited to the maximum amount as will, after giving effect to such maximum amount
and all other contingent and fixed liabilities of such Subsidiary Guarantor (including, without
limitation, any Guarantees under the Senior Credit Facility) that are relevant under such laws and
after giving effect to any collections from, rights to receive contribution from or payments made
by or on behalf of any other Subsidiary Guarantor in respect of the obligations of such other
Subsidiary Guarantor under this Article 10, result in the obligations of such Subsidiary Guarantor
under its Subsidiary Guarantee not constituting a fraudulent conveyance or fraudulent transfer
under applicable law. Any Subsidiary Guarantor that makes a payment under its Subsidiary Guarantee
will be entitled upon payment in full of all Guaranteed Obligations under this Indenture to a
contribution from each other Subsidiary Guarantor in an amount equal to such other Subsidiary
Guarantor’s pro rata portion of such payment based on the respective net assets of all the
Subsidiary Guarantors at the time of such payment determined in accordance with GAAP.



     Section 10.03 Execution and Delivery.




     To evidence its Subsidiary Guarantee set forth in Section 10.01, each Subsidiary Guarantor
hereby agrees that this Indenture shall be executed on behalf of such Subsidiary Guarantor by an
Officer of such Subsidiary Guarantor.



     Each Subsidiary Guarantor hereby agrees that its Subsidiary Guarantee set forth in Section
10.01 shall remain in full force and effect notwithstanding the absence of the endorsement of any
notation of such Subsidiary Guarantee on the Notes.



-85-









 





     If an Officer whose signature is on this Indenture no longer holds that office at the time the
Trustee authenticates the Note, the Subsidiary Guarantee shall be valid nevertheless.



     The delivery of any Note by the Trustee, after the authentication thereof hereunder, shall
constitute due delivery of the Subsidiary Guarantee set forth in this Indenture on behalf of the
Subsidiary Guarantors.



     To the extent required by Section 4.15, the Company shall cause any newly created or acquired
Restricted Subsidiary to comply with the provisions of Section 4.15 and this Article 10, to the
extent applicable.



     Section 10.04 Subrogation.




     Each Subsidiary Guarantor shall be subrogated to all rights of Holders of Notes against the
Company in respect of any amounts paid by any Subsidiary Guarantor pursuant to the provisions of
Section 10.01; provided that, if an Event of Default has occurred and is continuing, no Subsidiary
Guarantor shall be entitled to enforce or receive any payments arising out of, or based upon, such
right of subrogation until all amounts then due and payable by the Company under this Indenture or
the Notes shall have been paid in full.



     Section 10.05 Benefits Acknowledged.




     Each Subsidiary Guarantor acknowledges that it will receive direct and indirect benefits from
the financing arrangements contemplated by this Indenture and that the guarantee and waivers made
by it pursuant to its Subsidiary Guarantee are knowingly made in contemplation of such benefits.



     Section 10.06 Release of Subsidiary Guarantees.




     A Subsidiary Guarantee by a Subsidiary Guarantor shall be automatically and unconditionally
released and discharged, and no further action by such Subsidiary Guarantor, the Company or the
Trustee is required for the release of such Subsidiary Guarantor’s Subsidiary Guarantee, upon:




     (1) (a) the occurrence of (i) any sale, exchange, transfer or other disposition (by
merger, consolidation or otherwise) of the Capital Stock of such Subsidiary Guarantor after
which the applicable Subsidiary Guarantor is no longer a Restricted Subsidiary or of all of
the assets and property of such Subsidiary Guarantor (other than by lease), which sale,
exchange, transfer or other disposition is made in compliance with the applicable provisions
of this Indenture, including Section 4.10 (it being understood that only such portion of the
Net Available Cash as is required to be applied on or before the date of such release in
accordance with the terms of this Indenture needs to be applied in accordance therewith at
such time) and Section 5.01;




     (b) unless an Event of Default has occurred and is continuing, the release or discharge
of such Subsidiary Guarantor from its Guarantee of Indebtedness of the Company and the
Subsidiary Guarantors under the Senior Credit Facility (including by reason of the
termination of the Senior Credit Facility); provided that if such Subsidiary Guarantor has
Incurred any Indebtedness or issued any Preferred Stock or Disqualified Stock in reliance on
its status as a Subsidiary Guarantor under Section 4.09, such Subsidiary Guarantor’s
obligations under such Indebtedness, Disqualified Stock or Preferred Stock, as the case may
be, so Incurred are satisfied in full or discharged or are otherwise permitted to be
Incurred by a Restricted Subsidiary (other than a Subsidiary Guarantor) under Section 4.09;




     (c) the designation of any Restricted Subsidiary that is a Subsidiary Guarantor as an
Unrestricted Subsidiary in accordance with the provisions described in Section 4.07 and the
definition of Unrestricted Subsidiary; or




     (d) the Company exercising its Legal Defeasance or Covenant Defeasance option as
described under Article 8 or the Company’s obligations under this Indenture being discharged
in accordance with the terms of this Indenture; and



-86-









 







     (2) such Subsidiary Guarantor delivering to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that all conditions precedent provided for in this
Indenture relating to such transaction have been complied with.



ARTICLE 11




SATISFACTION AND DISCHARGE



     Section 11.01 Satisfaction and Discharge.




     This Indenture shall be discharged and shall cease to be of further effect as to all Notes,
when:




     (1) either:




     (a) all Notes that have been authenticated, except lost, stolen or destroyed
Notes that have been replaced pursuant to Section 2.09 or paid and Notes for whose
payment money has been deposited in trust and thereafter repaid to the Company, have
been delivered to the Trustee for cancellation; or




     (b) all Notes not theretofore delivered to the Trustee for cancellation have
become due and payable by reason of the making of a notice of redemption or
otherwise or will become due and payable within one year or may be called for
redemption within one year under arrangements satisfactory to the Trustee for the
giving of notice of redemption by the Trustee in the name, and at the expense, of
the Company, and the Company or any Subsidiary Guarantor has irrevocably deposited
or caused to be deposited with the Trustee, as trust funds in trust solely for the
benefit of the Holders of the Notes, cash in U.S. dollars, U.S. Government
Obligations, or a combination thereof, in such amounts as shall be sufficient
without consideration of any reinvestment of interest to pay and discharge the
entire Indebtedness on the Notes not theretofore delivered to the Trustee for
cancellation for principal, premium, if any, and accrued interest to the date of
maturity or redemption;




     (2) the deposit shall not result in a breach or violation of, or constitute a default
under, any other material instrument to which the Company is a party or by which the Company
is bound;




     (3) the Company has paid or caused to be paid all sums payable by it under this
Indenture; and




     (4) the Company has delivered irrevocable instructions to the Trustee under this
Indenture to apply the deposited money toward the payment of the Notes at maturity or the
redemption date, as the case may be, then the Trustee shall acknowledge satisfaction and
discharge of this Indenture with respect to the Notes on demand of the Company (accompanied
by an Officers’ Certificate and an Opinion of Counsel stating that all conditions precedent
specified herein relating to the satisfaction and discharge of this Indenture have been
complied with) and at the cost and expense of the Company.




     (5) if U.S. Government Obligations shall have been deposited in connection with such
satisfaction and discharge, then as a further condition to such satisfaction and discharge,
the Trustee shall have received a certificate from a nationally recognized firm of
independent accountants to the effect set forth in Section 8.04(1).



     Notwithstanding the satisfaction and discharge of this Indenture, if money shall have been
deposited with the Trustee pursuant to clause (1)(b) of this Section 11.01, the provisions of
Section 11.02 and Section 8.06 shall survive.







-87-









 





     Section 11.02 Application of Trust Money.






     Subject to the provisions of Section 8.06, all money deposited with the Trustee pursuant to
Section 11.01 shall be held in trust and applied by it, in accordance with the provisions of the
Notes and this Indenture, to the payment, either directly or through any Paying Agent (including
the Company acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled
thereto, of the principal (and premium and Additional Interest, if any) and interest for whose
payment such money has been deposited with the Trustee; but such money need not be segregated from
other funds except to the extent required by law.



     If the Trustee or Paying Agent is unable to apply any money or U.S. Government Obligations in
accordance with Section 11.01 by reason of any legal proceeding or by reason of any order or
judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting
such application, the Company’s and any Subsidiary Guarantor’s obligations under this Indenture and
the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section
11.01; provided that if the Company has made any payment of principal of, premium, if any, and
Additional Interest, if any, or interest on any Notes because of the reinstatement of its
obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive
such payment from the money or U.S. Government Obligations held by the Trustee or Paying Agent.



ARTICLE 12




MISCELLANEOUS



     Section 12.01 Trust Indenture Act Controls.




     If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by
Trust Indenture Act Section 318(c), the imposed duties shall control.



     Section 12.02 Notices.




     Any notice or communication by the Company, any Subsidiary Guarantor or the Trustee to the
others is duly given if in writing and delivered in person or mailed by first-class mail
(registered or certified, return receipt requested), fax or overnight air courier guaranteeing next
day delivery, to the others’ addresses:



          If to the Company and/or any Subsidiary Guarantor:



c/o MedAssets, Inc.

100 North Point Center East, Suite 200

Alpharetta, Georgia 30022

Fax No.: 678-323-2515

Attention: Jonathan H. Glenn, Chief Legal and Administrative Officer




          With a copy to (which shall not itself constitute proper notice):



Willkie Farr & Gallagher LLP

787 Seventh Avenue

New York, New York 10019

Fax No.: 212-728-8111

Attention: Cristopher Greer




          If to the Trustee:



Wells Fargo Bank, National Association

700 Central Parkway, NE Suite 550

Atlanta, Georgia 30328

Fax No.: 770-551-5118

Attention: Corporate Trust Services- MedAssets, Inc.






-88-









 








     The Company, any Subsidiary Guarantor or the Trustee, by notice to the others, may designate
additional or different addresses for subsequent notices or communications.



     All notices and communications (other than those sent to Holders) shall be deemed to have been
duly given: by publication, on the first date on which publication is made, at the time delivered
by hand, if personally delivered; three Business Days after being deposited in the mail, postage
prepaid, if mailed by first-class mail; when receipt acknowledged, if faxed; and the next Business
Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next day
delivery.



     Any notice or communication to a Holder shall be mailed by first-class mail, certified or
registered, return receipt requested, or by overnight air courier guaranteeing next day delivery to
its address shown on the register kept by the Registrar or by other electronic means or such other
delivery system as the Trustee agrees to accept. Any notice or communication shall also be so
mailed to any Person described in Trust Indenture Act Section 313(c), to the extent required by the
Trust Indenture Act. Failure to mail a notice or communication to a Holder or any defect in it
shall not affect its sufficiency with respect to other Holders.



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



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



     Section 12.03 Communication by Holders of Notes with Other Holders of Notes.




     Holders may communicate pursuant to Trust Indenture Act Section 312(b) with other Holders with
respect to their rights under this Indenture or the Notes. The Company, the Trustee, the Registrar
and anyone else shall have the protection of Trust Indenture Act Section 312(c).



     Section 12.04 Certificate and Opinion as to Conditions Precedent.




     (a) Upon any request or application by the Company or any of the Subsidiary Guarantors to the
Trustee to take any action under this Indenture, the Company or such Subsidiary Guarantor, as the
case may be, shall furnish to the Trustee:




     (i) An Officers’ Certificate in form and substance reasonably satisfactory to the
Trustee (which shall include the statements set forth in Section 12.05) stating that, in the
opinion of the signers, all conditions precedent and covenants, if any, provided for in this
Indenture relating to the proposed action have been satisfied; and




     (ii) An Opinion of Counsel in form and substance reasonably satisfactory to the Trustee
(which shall include the statements set forth in Section 12.05) stating that, in the opinion
of such counsel, all such conditions precedent and covenants have been satisfied.



     Section 12.05 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 Section 4.04 or Trust
Indenture Act Section 314(a)(4)) shall comply with the provisions of Trust Indenture Act Section
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;



-89-









 






     (c) a statement that, in the opinion of such Person, he or she has made such
examination or investigation as is necessary to enable him or her to express an informed
opinion as to whether or not such covenant or condition has been complied with (and, in the
case of an Opinion of Counsel, may be limited to reliance on an Officers’ Certificate as to
matters of fact); and




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



     Section 12.06 Rules by Trustee and Agents.




     The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar
or Paying Agent may make reasonable rules and set reasonable requirements for its functions.



     Section 12.07 No Personal Liability of Directors, Officers, Employees and Stockholders.




     No director, officer, employee, incorporator or stockholder of the Company or the Subsidiary
Guarantors, as such, shall have any liability for any obligations of the Company or the Subsidiary
Guarantors under the Notes, this Indenture or the Subsidiary Guarantees or for any claim based on,
in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a
Note waives and releases all such liability. The waiver and release are part of the consideration
for issuance of the Notes. The waiver may not be effective to waive liabilities under the federal
securities law.



     Section 12.08 Governing Law.




     THIS INDENTURE, THE NOTES AND ANY SUBSIDIARY GUARANTEE WILL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.



     Section 12.09 Waiver of Jury Trial.




     EACH OF THE COMPANY, THE SUBSIDIARY GUARANTORS AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR ANY SUBSIDIARY GUARANTEE, OR
THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.



     Section 12.10 Force Majeure.




     In no event shall the Trustee be responsible or liable for any failure or delay in the
performance of its obligations under this Indenture arising out of or caused by, directly or
indirectly, forces beyond its reasonable control, including without limitation strikes, work
stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications
or computer (software or hardware) services.



     Section 12.11 No Adverse Interpretation of Other Agreements.




     This Indenture may not be used to interpret any other indenture, loan or debt agreement of the
Company or its Restricted Subsidiaries or of any other Person. Any such indenture, loan or debt
agreement may not be used to interpret this Indenture.



     Section 12.12 Successors.




     All agreements of the Company in this Indenture and the Notes shall bind its successors. All
agreements of the Trustee in this Indenture shall bind its successors. All agreements of each
Subsidiary Guarantor in this Indenture shall bind its successors, except as otherwise provided in
Section 10.06.



-90-









 





     Section 12.13 Severability.




     In case any provision in this Indenture or in the Notes 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 12.14 Counterpart Originals.




     The parties may sign any number of copies of this Indenture. Each signed copy shall be an
original, but all of them together represent the same agreement.



     Section 12.15 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 of
this Indenture and shall in no way modify or restrict any of the terms or provisions hereof.



     Section 12.16 Qualification of Indenture.




     The Company and the Subsidiary Guarantors shall qualify this Indenture under the Trust
Indenture Act in accordance with the terms and conditions of the Registration Rights Agreement and
shall pay all reasonable costs and expenses (including attorneys’ fees and expenses for the
Company, the Subsidiary Guarantors and the Trustee) incurred in connection therewith, including,
but not limited to, costs and expenses of qualification of this Indenture and the Notes and
printing this Indenture and the Notes. The Trustee shall be entitled to receive from the Company
and the Subsidiary Guarantors any such Officers’ Certificates, Opinions of Counsel or other
documentation as it may reasonably request in connection with any such qualification of this
Indenture under the Trust Indenture Act.



[Signatures on following page]









-91-









 








	 	 	 	 	 
	 	MEDASSETS, INC.

 	 
	 	By:  	/s/ L. Neil Hunn
 	 
	 	 	Name:  	L. Neil Hunn 	 
	 	 	Title:  	Executive Vice President, Chief
Financial Officer and President of Revenue Cycle
Management 	 
	 
	 	ASPEN HEALTHCARE METRICS LLC

 	 
	 	By:  	/s/ L. Neil Hunn
 	 
	 	 	Name:  	L. Neil Hunn 	 
	 	 	Title:  	Vice President and Secretary 	 
	 
	 	MEDASSETS ANALYTICAL SYSTEMS, LLC

 	 
	 	By:  	/s/ L. Neil Hunn
 	 
	 	 	Name:  	L. Neil Hunn 	 
	 	 	Title:  	Vice President and Secretary 	 
	 
	 	MEDASSETS SUPPLY CHAIN SYSTEMS, LLC

 	 
	 	By:  	/s/ L. Neil Hunn
 	 
	 	 	Name:  	L. Neil Hunn 	 
	 	 	Title:  	Vice President and Secretary 	 
	 
	 	MEDASSETS NET REVENUE SYSTEMS, LLC

 	 
	 	By:  	/s/ L. Neil Hunn
 	 
	 	 	Name:  	L. Neil Hunn 	 
	 	 	Title:  	President, Revenue Cycle Technology
Segment and Secretary 	 
	 
	 	DOMINIC & IRVINE, LLC

 	 
	 	By:  	/s/ L. Neil Hunn
 	 
	 	 	Name:  	L. Neil Hunn 	 
	 	 	Title:  	Vice President and Secretary 	 
	 
	 	MEDASSETS SERVICES LLC

 	 
	 	By:  	/s/ L. Neil Hunn
 	 
	 	 	Name:  	L. Neil Hunn 	 
	 	 	Title:  	Vice President and Secretary 	 



S-1









 






	 	 	 	 	 



	 	 	 	 	 
	 	BROADLANE INTERMEDIATE HOLDINGS, INC.

 	 
	 	By:  	/s/ Jonathan H. Glenn
 	 
	 	 	Name:  	Jonathan H. Glenn 	 
	 	 	Title:  	Vice President and Secretary 	 
	 
	 	BROADLANE NY, INC.

 	 
	 	By:  	/s/ Jonathan H. Glenn
 	 
	 	 	Name:  	Jonathan H. Glenn 	 
	 	 	Title:  	Vice President and Secretary 	 
	 
	 	BROADLANE VENTURES, LLC

 	 
	 	By:  	/s/ Jonathan H. Glenn
 	 
	 	 	Name:  	Jonathan H. Glenn 	 
	 	 	Title:  	Vice President and Secretary 	 
	 
	 	BROADLANE VENTURES I, LLC

 	 
	 	By:  	/s/ Jonathan H. Glenn
 	 
	 	 	Name:  	Jonathan H. Glenn 	 
	 	 	Title:  	Vice President and Secretary 	 
	 
	 	HEALTH EQUIPMENT LOGISTICS AND

PLANNING, INC.

 	 
	 	By:  	/s/ Jonathan H. Glenn
 	 
	 	 	Name:  	Jonathan H. Glenn 	 
	 	 	Title:  	Vice President and Secretary 	 
	 
	 	HEALTHCARE PERFORMANCE PARTNERS, INC.

 	 
	 	By:  	/s/ Jonathan H. Glenn
 	 
	 	 	Name:  	Jonathan H. Glenn 	 
	 	 	Title:  	Vice President and Secretary 	 
	 
	 	KP SELECT, INC.

 	 
	 	By:  	/s/ Jonathan H. Glenn
 	 
	 	 	Name:  	Jonathan H. Glenn 	 
	 	 	Title:  	Vice President and Secretary 	 



S-2









 






	 	 	 	 	 



	 	 	 	 	 
	 	THE BROADLANE GROUP, INC.

 	 
	 	By:  	/s/ Jonathan H. Glenn
 	 
	 	 	Name:  	Jonathan H. Glenn 	 
	 	 	Title:  	Vice President and Secretary 	 
	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Trustee

 	 
	 	By:  	/s/ Stefan Victory
 	 
	 	 	Name:  	Stefan Victory 	 
	 	 	Title:  	Vice President 	 



S-3









 






	 	 	 	 	 



EXHIBIT A




[FORM OF FACE OF INITIAL NOTE]




[Global Notes Legend]




     UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY
PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.



     TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO
DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF
PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE
RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.



[Restricted Notes Legend]




     THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER
JURISDICTION. NEITHER THIS NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY
BE OFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE
DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION
IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS
NOTE, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF
ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES TO OFFER, SELL
OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION
TERMINATION DATE”) THAT IS [IN THE CASE OF RULE 144A NOTES: ONE YEAR] [IN
THE CASE OF REGULATION S NOTES: 40 DAYS] AFTER THE LATER OF THE ORIGINAL ISSUE
DATE HEREOF, THE ORIGINAL ISSUE DATE OF THE ISSUANCE OF ANY ADDITIONAL
NOTES AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF THE ISSUER
WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY
(A) TO THE ISSUER, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN
DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES
ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT
(“RULE 144A”), TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL
BUYER” AS DEFINED IN RULE 144A THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR
THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN
THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO
OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES
WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN
INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2),
(3) OR (7) UNDER THE SECURITIES ACT THAT IS AN INSTITUTIONAL ACCREDITED INVESTOR
ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF SUCH
AN INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL
AMOUNT OF THE SECURITIES OF $250,000, FOR INVESTMENT PURPOSES AND NOT WITH
A VIEW TO OR FOR OFFER OR SALE IN CONNECTION WITH ANY DISTRIBUTION IN
VIOLATION OF THE SECURITIES ACT, OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO



A-1









 







THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER
(1) PURSUANT TO CLAUSES (D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF
COUNSEL, CERTIFICATION AND/ OR OTHER INFORMATION SATISFACTORY TO EACH OF
THEM, AND (2) IN EACH OF THE FOREGOING CASES, TO REQUIRE THAT A CERTIFICATE
OF TRANSFER IN THE FORM APPEARING ON THIS NOTE IS COMPLETED AND DELIVERED
BY THE TRANSFEROR TO THE TRUSTEE. THIS LEGEND WILL BE REMOVED UPON THE
REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. [IN THE
CASE OF REGULATION S NOTES: BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF
REPRESENTS THAT IT IS NOT A U.S. PERSON NOR IS IT PURCHASING FOR THE ACCOUNT
OF A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN
ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT.]



A-2









 





CUSIP: [          ]

ISIN: [          ]1




[RULE 144A][REGULATION S][IAI][GLOBAL] NOTE




8% Senior Notes due 2018


No.




MEDASSETS, INC.



[promises to pay to CEDE & CO. or registered assigns, the principal sum set forth on the Schedule
of Exchanges of Interests in the Global Note attached hereto [of up to ___________ United States
Dollars on [          ],] 2018.] [USE ONLY FOR GLOBAL NOTES.]



[promises to pay to [          ] or registered assigns, the principal sum of
[___________________ United States Dollars] on [          ],] [USE ONLY FOR DEFINITIVE
NOTES.]



Interest Payment Dates: May 15 and November 15



Record Dates: May 1 and November 1






 




			
	1	 	Rule 144A Note CUSIP: 584045AA6

Rule 144A Note ISIN: US584045AA65

Regulation S Note CUSIP: U58230AA8

Regulation S Note ISIN: USU58230AA84





A-3









 










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


Dated:




	 	 	 	 	 
	 	MEDASSETS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 



A-4









 






	 	 	 	 	 




     This is one of the Notes referred to in the within-mentioned Indenture:



	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL
ASSOCIATION,

as Trustee

 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 



A-5









 






	 	 	 	 	 



[Back of Note]




8% Senior Notes due 2018




     Capitalized terms used herein shall have the meanings assigned to them in the Indenture
referred to below unless otherwise indicated.



     1. INTEREST. MedAssets, Inc., a Delaware corporation, promises to pay interest on the
principal amount of this Note at 8% per annum from November 16, 2010 until maturity and shall pay
the Additional Interest, if any, payable pursuant to the Registration Rights Agreement referred to
below. The Company will pay interest and Additional Interest, if any, semi-annually in arrears on
May 15 and November 15 of each year, or if any such day is not a Business Day, on the next
succeeding Business Day (each, an “Interest Payment Date”). Interest on the Notes will
accrue from the most recent date to which interest has been paid or, if no interest has been paid,
from the date of issuance; provided that the first Interest Payment Date shall be May 15, 2011.
The Company will pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the
interest rate on the Notes; it shall pay interest (including post-petition interest in any
proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest,
if any, (without regard to any applicable grace periods) from time to time on demand at the
interest rate on the Notes. Interest will be computed on the basis of a 360-day year comprised of
twelve 30-day months.



     2. METHOD OF PAYMENT. The Company will pay interest on the Notes and Additional Interest, if
any, to the Persons who are Holders at the close of business on May 1 and November 1 (whether or
not a Business Day), as the case may be, next preceding the Interest Payment Date, even if such
Notes are canceled after such Record Date and on or before such Interest Payment Date, except as
provided in Section 2.14 of the Indenture with respect to defaulted interest. Principal of,
premium, if any, and interest on the Notes will be payable at the office or agency of the Company
maintained for such purpose or, at the option of the Company, payment of interest and Additional
Interest, if any, may be made by check mailed to the Holders at their respective addresses set
forth in the register of Holders; provided that payment by wire transfer of immediately available
funds will be required with respect to principal of and interest, premium and Additional Interest,
if any, on, all Global Notes and all other Notes the Holders of which shall have provided wire
transfer instructions to the Company or the Paying Agent. Such payment shall be in such coin or
currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts.



     3. PAYING AGENT AND REGISTRAR. Initially, Wells Fargo Bank, National Association, the Trustee
under the Indenture, will act as Paying Agent and Registrar. The Company may change any Paying
Agent or Registrar without notice to the Holders. The Company or any of its Restricted
Subsidiaries may act in any such capacity.



     4. INDENTURE. The Company issued the Notes under an Indenture, dated as of November 16, 2010
(the “Indenture”), among MedAssets, Inc., the Subsidiary Guarantors named therein and the
Trustee. This Note is one of a duly authorized issue of notes of the Company designated as its 8%
Senior Notes due 2018. The Company shall be entitled to issue Additional Notes pursuant to
Sections 2.01 and 4.09 of the Indenture. The terms of the Notes include those stated in the
Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as
amended (the “Trust Indenture Act”). The Notes are subject to all such terms, and Holders
are referred to the Indenture and such Act for a statement of such terms. To the extent any
provision of this Note conflicts with the express provisions of the Indenture, the provisions of
the Indenture shall govern and be controlling.



     The Notes are senior unsecured obligations of the Company. The aggregate principal amount of
Notes that may be authenticated and delivered under the Indenture is unlimited. This Note is one
of the 8% Senior Notes due 2018 referred to in the Indenture. The Notes include (i) $325,000,000
aggregate principal amount of the Company’s 8% Senior Notes due 2018 issued under the Indenture on
November 16, 2010 (herein called “Initial Notes”), (ii) if and when issued, additional 8%
Senior Notes due 2018 of the Company that may be issued from time to time under the Indenture
subsequent to November 16, 2010 (herein called “Additional Notes”) as provided in Section
2.01(a) of the Indenture and (iii) if and when issued, the Company’s 8% Senior Notes due 2018 that
may be issued from time



A-6









 




to time under the Indenture in exchange for Initial Notes or Additional Notes in an offer
registered under the Securities Act as provided in the Registration Rights Agreement (herein called
“Exchange Notes”). The Initial Notes, Additional Notes and Exchange Notes are treated as a
single class of securities under the Indenture. The Indenture imposes certain covenants as
specified in Article 4 thereof. The Indenture also imposes requirements with respect to the
provision of financial information and the provision of guarantees of the Notes by certain
subsidiaries.




     To guarantee the due and punctual payment of the principal, premium, if any, and interest on
the Notes and all other amounts payable by the Company under the Indenture, the Notes and the
Registration Rights Agreement when and as the same shall be due and payable, whether at maturity,
by acceleration or otherwise, according to the terms of the Notes and the Indenture, the Subsidiary
Guarantors have unconditionally guaranteed (and future guarantors, together with the Subsidiary
Guarantors, will unconditionally Guarantee), jointly and severally, such obligations on a senior
unsecured basis pursuant to the terms of the Indenture.



     5. OPTIONAL REDEMPTION.



     (a) Except as described below under clauses 5(b) and 5(c), the Notes will not be redeemable at
the Company’s option before November 15, 2014.



     (b) At any time prior to November 15, 2014, upon not less than 30 nor more than 60 days’ prior
notice mailed by first-class mail to each Holder’s registered address, the Company may redeem all
or part of the Notes at a redemption price equal to 100% of the principal amount thereof plus the
Applicable Premium as of, plus accrued and unpaid interest, if any, to, the redemption date
(subject to the right of Holders on the relevant Record Date to receive interest due on the
relevant Interest Payment Date).



     (c) At any time prior to November 15, 2013, the Company may, at its option, redeem up to 35%
of the aggregate principal amount of Notes issued by it (calculated after giving effect to any
issuance of Additional Notes) with the Net Cash Proceeds of one or more Equity Offerings at a
redemption price of 108% of the principal amount thereof, plus accrued and unpaid interest, if
any, to the redemption date (subject to the right of Holders on the relevant Record Date to receive
interest due on the relevant Interest Payment Date); provided that:




     (1) at least 65% of the aggregate original principal amount of Notes issued under the
Indenture (calculated after giving effect to any issuance of Additional Notes) remains
outstanding immediately after each such redemption; and




     (2) the redemption occurs within 90 days after the closing of such Equity Offering.



     (d) On and after November 15, 2014, the Company may, at its option, redeem all or, from time
to time, a part of the Notes upon not less than 30 nor more than 60 days’ notice, at the following
redemption prices (expressed as a percentage of principal amount of the Notes to be redeemed) plus
accrued and unpaid interest and Additional Interest on the Notes, if any, to the applicable
redemption date (subject to the right of Holders on the relevant Record Date to receive interest
due on the relevant Interest Payment Date), if redeemed during the twelve-month period beginning on
September 15 of the years indicated below:



	 	 	 	 	 
	Year	 	Percentage
	2014
	 	 	104.000	%
	2015
	 	 	102.000	%
	2016 and thereafter
	 	 	100.000	%






     (e) Any redemption pursuant to this paragraph 5 shall be made pursuant to the provisions of
Sections 3.01 through 3.06 of the Indenture.



     6. MANDATORY REDEMPTION. The Company shall not be required to make mandatory redemption or
sinking fund payments with respect to the Notes.



A-7









 





     7. NOTICE OF REDEMPTION. Subject to Section 3.09 of the Indenture, the Company shall mail or
cause to be mailed by first-class mail, postage prepaid, notices of redemption at least 30 days but
not more than 60 days before the redemption date to each Holder of Notes to be redeemed at such
Holder’s registered address or otherwise in accordance with the procedures of DTC, except that
redemption notices may be mailed more than 60 days prior to a redemption date if the notice is
issued in connection with Article 8 or Article 11 of the Indenture. Except as set forth in Section
4.14 of the Indenture, notices of redemption may not be conditional. Notes and portions of Notes
selected shall be in amounts of $2,000 or whole multiples of $1,000 on excess thereof; no Notes of
$2,000 or less can be redeemed in part, except that if all of the Notes of a Holder are to be
redeemed or purchased, the entire outstanding amount of Notes held by such Holder, even if not
$2,000 or a multiple of $1,000 in excess thereof, shall be redeemed or purchased. Subject to
Section 3.05 of the Indenture, on and after the redemption date, interest ceases to accrue on Notes
or portions of Notes called for redemption. Notice of any redemption upon any Equity Offering may
be given prior to the completion thereof, and any such redemption or notice may, at the Company’s
discretion, be subject to one or more conditions precedent, including, but not limited to,
completion of the related Equity Offering.



     8. OFFERS TO REPURCHASE.



     (a) If a Change of Control occurs, unless the Company has exercised its right to redeem all of
the Notes as described under Section 3.07 of the Indenture, each Holder shall have the right to
require the Company to repurchase all or any part (equal to $2,000 or larger integral multiples of
$1,000) of such Holder’s Notes at a purchase price in cash equal to 101% of the aggregate principal
amount of the Notes repurchased plus accrued and unpaid interest, if any, to the date of purchase
(subject to the right of Holders on the relevant Record Date to receive interest due on the
relevant Interest Payment Date).



     (b) On the 366th day after the later of the date of consummation of an Asset Sale and the
receipt of Net Available Cash with respect thereto, if the aggregate amount of Excess Proceeds
exceeds $20.0 million, the Company shall be required to make an offer (an “Asset Sale
Offer”) to all Holders of Notes and to the extent required by the terms of other Pari Passu
Indebtedness, to all holders of other Pari Passu Indebtedness outstanding with similar provisions
requiring the Company to make an offer to purchase such Pari Passu Indebtedness with the proceeds
from any Asset Sale, to purchase the maximum principal amount of Notes and any such Pari Passu
Indebtedness to which the Asset Sale Offer applies that may be purchased out of the Excess
Proceeds, at an offer price in cash in an amount equal to 100% of the principal amount of the Notes
and Pari Passu Indebtedness plus accrued and unpaid interest to the date of purchase, in accordance
with the procedures set forth in the Indenture or the agreements governing the Pari Passu
Indebtedness, as applicable, in each case in denominations of $2,000 and larger integral multiples
of $1,000 in excess thereof. To the extent that the aggregate amount of Notes and Pari Passu
Indebtedness so properly tendered and not withdrawn pursuant to an Asset Sale Offer is less than
the Excess Proceeds, the Company may use any remaining Excess Proceeds for any purpose not
prohibited by the Indenture. If the aggregate principal amount of Notes surrendered by Holders
thereof and other Pari Passu Indebtedness surrendered by holders or lenders, collectively, exceeds
the amount of Excess Proceeds, the Trustee shall select the Notes, and the trustee or agent for the
Pari Passu Indebtedness shall select the Pari Passu Indebtedness, to be purchased on a pro rata
basis on the basis of the aggregate principal amount of tendered Notes and Pari Passu Indebtedness.
Upon completion of such Asset Sale Offer, the amount of Excess Proceeds shall be reset at zero.



     Holders electing to have a Note purchased pursuant to any Asset Sale Offer shall be required
to surrender the Note, with the form entitled “Option of Holder to Elect Purchase” attached to the
Note completed, or transfer by book-entry transfer, to the Company, the Depositary, if appointed by
the Company, or a Paying Agent at the address specified in the notice at least three days before
the Asset Sale Purchase Date.



     9. DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered form without coupons in
denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes
may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the
Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer
documents, and Holders shall be required to pay any taxes and fees required by law or permitted by
the Indenture. The Company need not exchange or register the transfer of any Note or portion of a
Note selected for redemption, except for the unredeemed portion of



A-8









 







any Note being redeemed in part. Also, the Company need not exchange or register the transfer
of any Notes for a period of 15 days before a selection of Notes to be redeemed.



     10. PERSONS DEEMED OWNERS. A Holder may be treated as its owner for all purposes.



     11. AMENDMENT, SUPPLEMENT AND WAIVER. The Indenture, the Subsidiary Guarantees or the Notes
may be amended or supplemented as provided in the Indenture.



     12. DEFAULTS AND REMEDIES.



     (a) If an Event of Default (other than an Event of Default arising from certain events of
bankruptcy or insolvency) occurs and is continuing, the Trustee by notice in writing specifying the
Event of Default and that it is a “notice” to the Company, or the Holders of at least 25% in
aggregate principal amount of the then outstanding Notes by notice to the Company and the Trustee,
may declare the principal of, premium, if any, and accrued and unpaid interest, if any, on all the
Notes to be due and payable. Upon such a declaration, such principal, premium and accrued and
unpaid interest shall be due and payable immediately.



     (b) In the event of a declaration of acceleration of the Notes because an Event of Default
arising from certain defaults under any mortgage, indenture or instrument under which there may be
issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the
Company or any of its Restricted Subsidiaries (or the payment of which is guaranteed by the Company
or any of its Restricted Subsidiaries), other than Indebtedness owed to the Company or a Restricted
Subsidiary, whether such Indebtedness or Guarantee exists as of the Issue Date or is created after
the Issue Date, has occurred and is continuing, the declaration of acceleration of the Notes shall
be automatically annulled if the default triggering such Event of Default pursuant to such Event of
Default shall be remedied or cured by the Company or a Restricted Subsidiary or waived by the
holders of the relevant Indebtedness within 20 days after the declaration of acceleration with
respect thereto and if (1) the annulment of the acceleration of the Notes would not conflict with
any judgment or decree of a court of competent jurisdiction and (2) all existing Events of Default,
except nonpayment of principal, premium or interest on the Notes that became due solely because of
the acceleration of the Notes, have been cured or waived.



     (c) If an Event of Default arising from certain events of bankruptcy or insolvency occurs and
is continuing occurs and is continuing, the principal of, premium, if any, and accrued and unpaid
interest on all the Notes shall become and be immediately due and payable without any declaration
or other act on the part of the Trustee or any Holders.



     (d) The Holders of a majority in aggregate principal amount of the then outstanding Notes may
waive all past defaults (except with respect to a continuing Default or Event of Default with
respect to nonpayment of principal, premium or interest on the Notes) and rescind any such
acceleration with respect to the Notes and its consequences if (1) rescission would not conflict
with any judgment or decree of a court of competent jurisdiction and (2) all existing Events of
Default, other than the nonpayment of the principal of, premium, if any, and interest on the Notes
that have become due solely by such declaration of acceleration, have been cured or waived.



     (d) If a Default occurs and is continuing and is known to the Trustee, the Trustee shall mail
to each Holder notice of the Default within 90 days after it occurs. Except in the case of a
Default in the payment of principal of, premium, if any, or interest on any Note, the Trustee may
withhold notice if and so long as a committee of Trust Officers of the Trustee in good faith
determines that withholding notice is in the interests of the Holders. In addition, the Company
shall deliver to the Trustee, within 120 days after the end of each fiscal year, a certificate
indicating whether the signers thereof know of any Default that occurred during the previous year.



     13. AUTHENTICATION. This Note shall not be entitled to any benefit under the Indenture or be
valid or obligatory for any purpose until authenticated by the manual signature of the Trustee.



     14. ADDITIONAL RIGHTS OF HOLDERS OF TRANSFER RESTRICTED NOTES. In addition to the rights
provided to Holders of Notes under the Indenture, Holders of Transfer Restricted Notes shall have
all the rights set forth in the Registration Rights Agreement, dated as of November 16, 2010, among
MedAssets, Inc., the



A-9









 




Subsidiary Guarantors named therein and the other parties named on the signature pages thereof (the
“Registration Rights Agreement”), including the right to receive Additional Interest (as
defined in the Registration Rights Agreement).




     15. GOVERNING LAW. THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THE
INDENTURE, THE NOTES AND THE GUARANTEES.



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



     The Company will furnish to any Holder upon written request and without charge a copy of the
Indenture and/or the Registration Rights Agreement. Requests may be made to the Company at the
following address:



c/o MedAssets, Inc.

100 North Point Center East, Suite 200

Alpharetta, Georgia 30022

Fax No.: 678-323-2515

Attention: Jonathan H. Glenn,

            Chief Legal and

                      Administrative Officer






A-10









 








ASSIGNMENT FORM




     To assign this Security, fill in the form below:



     I or we assign and transfer this Security to:



 
(Print or type assignee’s name, address and zip code)




 
(Insert assignee’s social security or tax I.D. No.)



and irrevocably appoint ______________ agent to transfer this Security on the books of the Company.
The agent may substitute another to act for him.




	 	 	 	 	 	 	 	 	 

	Date:

	 	 	 	 	 	Your Signature: 	 	 






Signature Guarantee: _________________________________




(Signature must be guaranteed)


Sign exactly as your name appears on the other side of this Security.



The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers,
savings and loan associations and credit unions with membership in an approved signature guarantee
medallion program), pursuant to S.E.C. Rule 17Ad-15.



The undersigned hereby certifies that it [is / is not] an Affiliate of the Company and that, to its
knowledge, the proposed transferee [is / is not] an Affiliate of the Company.




     In connection with any transfer or exchange of any of the Notes evidenced by this certificate
occurring prior to the date that is one year after the later of the date of original issuance of
such Notes and the last date, if any, on which such Notes were owned by the Company or any
Affiliate of the Company, the undersigned confirms that such Notes are being:


CHECK ONE BOX BELOW:




	 	 	 	 	 

	(1)

	 	o
	 	acquired for the undersigned’s own account, without transfer; or
	 
	 	 	 	 
	(2)

	 	o
	 	transferred to the Company; or
	 
	 	 	 	 
	(3)

	 	o
	 	transferred pursuant to and in compliance with Rule 144A under the Securities Act of 1933, as
amended (the “Securities Act”); or
	 
	 	 	 	 
	(4)

	 	o
	 	transferred pursuant to an effective registration statement under the Securities Act; or
	 
	 	 	 	 
	(5)

	 	o
	 	transferred pursuant to and in compliance with Regulation S under the Securities Act; or
	 
	 	 	 	 
	(6)

	 	o
	 	transferred to an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3)
or (7) under the Securities Act), that has furnished to the Trustee a signed letter containing
certain representations and agreements (the form of which letter appears as Section 2.8 of the
Indenture); or






A-11









 






	 	 	 	 	 

	 
	 	 	 	 
	(7)

	 	o
	 	transferred pursuant to another available exemption from the registration requirements of the
Securities Act of 1933, as amended.





Unless one of the boxes is checked, the Trustee will refuse to register any of the Notes evidenced
by this certificate in the name of any person other than the Holder thereof; provided, however,
that if box (5), (6) or (7) is checked, the Company may require, prior to registering any such
transfer of the Notes, in its sole discretion, such legal opinions, certifications and other
information as the Company may reasonably request to confirm that such transfer is being made
pursuant to an exemption from, or in a transaction not subject to, the registration requirements of
the Securities Act of 1933, as amended, such as the exemption provided by Rule 144 under such Act.




	 	 	 	 	 
	 	 	 
	 	Signature  	
 	 
	 	 	 	 



	 	 	 	 	 
	Signature Guarantee:  	
 	 	 
	 	 	 	 



	 	 	 	 	 
	(Signature must be guaranteed) 	Signature  	
 	 
	 	 	 	 
	 	 	 	 
	 





The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers,
savings and loan associations and credit unions with membership in an approved signature guarantee
medallion program), pursuant to S.E.C. Rule 17Ad-15.



TO BE COMPLETED BY PURCHASER IF BOX (1) OR (3) ABOVE IS CHECKED.



The undersigned represents and warrants that it is purchasing this Security for its own account or
an account with respect to which it exercises sole investment discretion and that it and any such
account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities
Act of 1933, as amended, and is aware that the sale to it is being made in reliance on Rule 144A
and acknowledges that it has received such information regarding the Company as the undersigned has
requested pursuant to Rule 144A or has determined not to request such information and that it is
aware that the transferor is relying upon the undersigned’s foregoing representations in order to
claim the exemption from registration provided by Rule 144A.




	 	 	 	 	 
	 	Dated:


 	 
	 	Signature  	 	 
	 	 	 	 
	 	 	 	 



A-12









 






	 	 	 	 	 





      OPTION OF HOLDER TO ELECT PURCHASE



     If you want to elect to have this Note purchased by the Company pursuant to Section 4.10 or
4.14 of the Indenture, check the appropriate box below:



o Section 4.10          o Section 4.14




     If you want to elect to have only part of this Note purchased by the Company pursuant to
Section 4.10 or Section 4.14 of the Indenture, state the amount you elect to have purchased:



$_____________



Date: __________________




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



	 	 	 	 	 
	 	 	 
	 	Tax Identification No.:  	
 	 



Signature Guarantee*: _____________________






 




			
	*	 	Participant in a recognized Signature Guarantee Medallion Program (or other signature
guarantor acceptable to the Trustee).




A-13









 










SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE*





     The initial outstanding principal amount of this Global Note is $__. The following exchanges
of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or
exchanges of a part of another Global or Definitive Note for an interest in this Global Note, have
been made:



	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Principal Amount of	 	 
	 	 	 	 	 	 	this Global Note	 	Signature of
	 	 	 	 	Amount of increase	 	following such	 	authorized officer
	 	 	Amount of decrease	 	in Principal Amount	 	decrease or	 	of Trustee or
	Date of Exchange	 	in Principal Amount	 	of this Global Note	 	increase	 	Custodian
	 	 	 	 	 	 	 	 	 







 




			
	*	 	This schedule should be included only if the Note is issued in global form.




A-14









 










EXHIBIT B




[FORM OF FACE OF EXCHANGE NOTE]




[Global Notes Legend]



     UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC
(AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.



     TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO
DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF
PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE
RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.



B-1









 






CUSIP: [          ]

ISIN: [          ]2



[GLOBAL] NOTE




8% Senior Notes due 2018


No. ___




MEDASSETS, INC.



[promises to pay to CEDE & CO. or registered assigns, the principal sum set forth on the Schedule
of Exchanges of Interests in the Global Note attached hereto [of up to ___________________ United
States Dollars on [          ],] [USE ONLY FOR GLOBAL NOTES.]



[promises to pay to [          ] or registered assigns, the principal sum of
[___________________ United States Dollars] on [          ],] [USE ONLY FOR DEFINITIVE
NOTES.]



Interest Payment Dates: May 15 and November 15



Record Dates: May 1 and November 1






 




			
	2	 	CUSIP: 584045AA6

ISIN: US584045AA65




B-2









 










     IN WITNESS HEREOF, the Company has caused this instrument to be duly executed. Dated:
        , 20___



	 	 	 	 	 
	 	MEDASSETS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 



B-3









 






	 	 	 	 	 




     This is one of the Notes referred to in the within-mentioned Indenture:



	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Trustee

 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 



B-4









 






	 	 	 	 	 



[Back of Note]




8% Senior Notes due 2018




     Capitalized terms used herein shall have the meanings assigned to them in the Indenture
referred to below unless otherwise indicated.



     1. INTEREST. MedAssets, Inc., a Delaware corporation, promises to pay interest on the
principal amount of this Note at 8% per annum from November 16, 2010 until maturity. The Company
will pay interest semi-annually in arrears on May 15 and November 15 of each year, or if any such
day is not a Business Day, on the next succeeding Business Day (each, an “Interest Payment
Date”). Interest on the Notes will accrue from the most recent date to which interest has been
paid or, if no interest has been paid, from the date of issuance; provided that the first Interest
Payment Date shall be May 15, 2011. The Company will pay interest (including post-petition
interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from
time to time on demand at the interest rate on the Notes; it shall pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of
interest (without regard to any applicable grace periods) from time to time on demand at the
interest rate on the Notes. Interest will be computed on the basis of a 360-day year comprised of
twelve 30-day months.



     2. METHOD OF PAYMENT. The Company will pay interest on the Notes to the Persons who are
Holders at the close of business on May 1 and November 1 (whether or not a Business Day), as the
case may be, next preceding the Interest Payment Date, even if such Notes are canceled after such
Record Date and on or before such Interest Payment Date, except as provided in Section 2.14 of the
Indenture with respect to defaulted interest. Principal of, premium, if any, and interest on the
Notes will be payable at the office or agency of the Company maintained for such purpose or, at the
option of the Company, payment of interest may be made by check mailed to the Holders at their
respective addresses set forth in the register of Holders; provided that payment by wire transfer
of immediately available funds will be required with respect to principal of and interest and
premium on, all Global Notes and all other Notes the Holders of which shall have provided wire
transfer instructions to the Company or the Paying Agent. Such payment shall be in such coin or
currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts.



     3. PAYING AGENT AND REGISTRAR. Initially, Wells Fargo Bank, National Association, the Trustee
under the Indenture, will act as Paying Agent and Registrar. The Company may change any Paying
Agent or Registrar without notice to the Holders. The Company or any of its Restricted
Subsidiaries may act in any such capacity.



     4. INDENTURE. The Company issued the Notes under an Indenture, dated as of November 16, 2010
(the “Indenture”), among MedAssets, Inc., the Subsidiary Guarantors named therein and the
Trustee. This Note is one of a duly authorized issue of notes of the Company designated as its 8%
Senior Notes due 2018. The Company shall be entitled to issue Additional Notes pursuant to
Sections 2.01 and 4.09 of the Indenture. The terms of the Notes include those stated in the
Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as
amended (the “Trust Indenture Act”). The Notes are subject to all such terms, and Holders
are referred to the Indenture and such Act for a statement of such terms. To the extent any
provision of this Note conflicts with the express provisions of the Indenture, the provisions of
the Indenture shall govern and be controlling.



     The Notes are senior unsecured obligations of the Company. The aggregate principal amount of
Notes that may be authenticated and delivered under the Indenture is unlimited. This Note is one
of the 8% Senior Notes due 2018 referred to in the Indenture. The Notes include (i) $325,000,000
aggregate principal amount of the Company’s 8% Senior Notes due 2018 issued under the Indenture on
November 16, 2010 (herein called “Initial Notes”), (ii) if and when issued, additional 8%
Senior Notes due 2018 of the Company that may be issued from time to time under the Indenture
subsequent to November 16, 2010 (herein called “Additional Notes”) as provided in Section
2.01(a) of the Indenture and (iii) if and when issued, the Company’s 8% Senior Notes due 2018 that
may be issued from time to time under the Indenture in exchange for Initial Notes or Additional
Notes in an offer registered under the Securities Act as provided in the Registration Rights
Agreement (herein called “Exchange Notes”). The
Initial Notes, Ad-



B-5









 




ditional Notes and Exchange Notes are treated as a single class of securities under the Indenture.
The Indenture imposes certain covenants as specified in Article 4 thereof. The Indenture also
imposes requirements with respect to the provision of financial information and the provision of
guarantees of the Notes by certain subsidiaries.




     To guarantee the due and punctual payment of the principal, premium, if any, and interest on
the Notes and all other amounts payable by the Company under the Indenture, the Notes and the
Registration Rights Agreement when and as the same shall be due and payable, whether at maturity,
by acceleration or otherwise, according to the terms of the Notes and the Indenture, the Subsidiary
Guarantors have unconditionally guaranteed (and future guarantors, together with the Subsidiary
Guarantors, will unconditionally Guarantee), jointly and severally, such obligations on a senior
unsecured basis pursuant to the terms of the Indenture.



     5. OPTIONAL REDEMPTION.



     (a) Except as described below under clauses 5(b) and 5(c), the Notes will not be redeemable at
the Company’s option before November 15, 2014.



     (b) At any time prior to November 15, 2014, upon not less than 30 nor more than 60 days’ prior
notice mailed by first-class mail to each Holder’s registered address, the Company may redeem all
or part of the Notes at a redemption price equal to 100% of the principal amount thereof plus the
Applicable Premium as of, plus accrued and unpaid interest, if any, to, the redemption date
(subject to the right of Holders on the relevant Record Date to receive interest due on the
relevant Interest Payment Date).



     (c) At any time prior to November 15, 2013, the Company may, at its option, redeem up to 35%
of the aggregate principal amount of Notes issued by it (calculated after giving effect to any
issuance of Additional Notes) with the Net Cash Proceeds of one or more Equity Offerings at a
redemption price of 10[          ]% of the principal amount thereof, plus accrued and unpaid interest, if
any, to the redemption date (subject to the right of Holders on the relevant Record Date to receive
interest due on the relevant Interest Payment Date); provided that:




     (1) at least 65% of the aggregate original principal amount of Notes issued under the
Indenture (calculated after giving effect to any issuance of Additional Notes) remains
outstanding immediately after each such redemption; and




     (2) the redemption occurs within 90 days after the closing of such Equity Offering.



     (d) On and after November 15, 2014, the Company may, at its option, redeem all or, from time
to time, a part of the Notes upon not less than 30 nor more than 60 days’ notice, at the following
redemption prices (expressed as a percentage of principal amount of the Notes to be redeemed) plus
accrued and unpaid interest on the Notes, if any, to the applicable redemption date (subject to the
right of Holders on the relevant Record Date to receive interest due on the relevant Interest
Payment Date), if redeemed during the twelve-month period beginning on September 15 of the years
indicated below:



	 	 	 	 	 
	Year	 	Percentage
	2014
	 	 	104.000	%
	2015
	 	 	102.000	%
	2016 and thereafter
	 	 	100.000	%






     (e) Any redemption pursuant to this paragraph 5 shall be made pursuant to the provisions of
Sections 3.01 through 3.06 of the Indenture.



     6. MANDATORY REDEMPTION. The Company shall not be required to make mandatory redemption or
sinking fund payments with respect to the Notes.



     7. NOTICE OF REDEMPTION. Subject to Section 3.09 of the Indenture, the Company shall mail or
cause to be mailed by first-class mail, postage prepaid, notices of redemption at least 30 days but
not more than 60 days before the redemption date to each Holder of Notes to be redeemed at such
Holder’s registered address or



B-6









 




otherwise in accordance with the procedures of DTC, except that redemption notices may be mailed
more than 60 days prior to a redemption date if the notice is issued in connection with Article 8
or Article 11 of the Indenture. Except as set forth in Section 4.14 of the Indenture, notices of
redemption may not be conditional. Notes and portions of Notes selected shall be in amounts of
$2,000 or whole multiples of $1,000 on excess thereof; no Notes of $2,000 or less can be redeemed
in part, except that if all of the Notes of a Holder are to be redeemed or purchased, the entire
outstanding amount of Notes held by such Holder, even if not $2,000 or a multiple of $1,000 in
excess thereof, shall be redeemed or purchased. Subject to Section 3.05 of the Indenture, on and
after the redemption date, interest ceases to accrue on Notes or portions of Notes called for
redemption. Notice of any redemption upon any Equity Offering may be given prior to the completion
thereof, and any such redemption or notice may, at the Company’s discretion, be subject to one or
more conditions precedent, including, but not limited to, completion of the related Equity
Offering.




     8. OFFERS TO REPURCHASE.



     (a) If a Change of Control occurs, unless the Company has exercised its right to redeem all of
the Notes as described under Section 3.07 of the Indenture, each Holder shall have the right to
require the Company to repurchase all or any part (equal to $2,000 or larger integral multiples of
$1,000) of such Holder’s Notes at a purchase price in cash equal to 101% of the aggregate principal
amount of the Notes repurchased plus accrued and unpaid interest, if any, to the date of purchase
(subject to the right of Holders on the relevant Record Date to receive interest due on the
relevant Interest Payment Date).



     (b) On the 366th day after the later of the date of consummation of an Asset Sale and the
receipt of Net Available Cash with respect thereto, if the aggregate amount of Excess Proceeds
exceeds $20.0 million, the Company shall be required to make an offer (an “Asset Sale
Offer”) to all Holders of Notes and to the extent required by the terms of other Pari Passu
Indebtedness, to all holders of other Pari Passu Indebtedness outstanding with similar provisions
requiring the Company to make an offer to purchase such Pari Passu Indebtedness with the proceeds
from any Asset Sale, to purchase the maximum principal amount of Notes and any such Pari Passu
Indebtedness to which the Asset Sale Offer applies that may be purchased out of the Excess
Proceeds, at an offer price in cash in an amount equal to 100% of the principal amount of the Notes
and Pari Passu Indebtedness plus accrued and unpaid interest to the date of purchase, in accordance
with the procedures set forth in the Indenture or the agreements governing the Pari Passu
Indebtedness, as applicable, in each case in denominations of $2,000 and larger integral multiples
of $1,000 in excess thereof. To the extent that the aggregate amount of Notes and Pari Passu
Indebtedness so properly tendered and not withdrawn pursuant to an Asset Sale Offer is less than
the Excess Proceeds, the Company may use any remaining Excess Proceeds for any purpose not
prohibited by the Indenture. If the aggregate principal amount of Notes surrendered by Holders
thereof and other Pari Passu Indebtedness surrendered by holders or lenders, collectively, exceeds
the amount of Excess Proceeds, the Trustee shall select the Notes, and the trustee or agent for the
Pari Passu Indebtedness shall select the Pari Passu Indebtedness, to be purchased on a pro rata
basis on the basis of the aggregate principal amount of tendered Notes and Pari Passu Indebtedness.
Upon completion of such Asset Sale Offer, the amount of Excess Proceeds shall be reset at zero.



     Holders electing to have a Note purchased pursuant to any Asset Sale Offer shall be required
to surrender the Note, with the form entitled “Option of Holder to Elect Purchase” attached to the
Note completed, or transfer by book-entry transfer, to the Company, the Depositary, if appointed by
the Company, or a Paying Agent at the address specified in the notice at least three days before
the Asset Sale Purchase Date.



     9. DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered form without coupons in
denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes
may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the
Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer
documents, and Holders shall be required to pay any taxes and fees required by law or permitted by
the Indenture. The Company need not exchange or register the transfer of any Note or portion of a
Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part.
Also, the Company need not exchange or register the transfer of any Notes for a period of 15 days
before a selection of Notes to be redeemed.



     10. PERSONS DEEMED OWNERS. A Holder may be treated as its owner for all purposes.



B-7









 





     11. AMENDMENT, SUPPLEMENT AND WAIVER. The Indenture, the Subsidiary Guarantees or the Notes
may be amended or supplemented as provided in the Indenture.



     12. DEFAULTS AND REMEDIES.



     (a) If an Event of Default (other than an Event of Default arising from certain events of
bankruptcy or insolvency) occurs and is continuing, the Trustee by notice in writing specifying the
Event of Default and that it is a “notice” to the Company, or the Holders of at least 25% in
aggregate principal amount of the then outstanding Notes by notice to the Company and the Trustee,
may declare the principal of, premium, if any, and accrued and unpaid interest, if any, on all the
Notes to be due and payable. Upon such a declaration, such principal, premium and accrued and
unpaid interest shall be due and payable immediately.



     (b) In the event of a declaration of acceleration of the Notes because an Event of Default
arising from certain defaults under any mortgage, indenture or instrument under which there may be
issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the
Company or any of its Restricted Subsidiaries (or the payment of which is guaranteed by the Company
or any of its Restricted Subsidiaries), other than Indebtedness owed to the Company or a Restricted
Subsidiary, whether such Indebtedness or Guarantee exists as of the Issue Date or is created after
the Issue Date, has occurred and is continuing, the declaration of acceleration of the Notes shall
be automatically annulled if the default triggering such Event of Default pursuant to such Event of
Default shall be remedied or cured by the Company or a Restricted Subsidiary or waived by the
holders of the relevant Indebtedness within 20 days after the declaration of acceleration with
respect thereto and if (1) the annulment of the acceleration of the Notes would not conflict with
any judgment or decree of a court of competent jurisdiction and (2) all existing Events of Default,
except nonpayment of principal, premium or interest on the Notes that became due solely because of
the acceleration of the Notes, have been cured or waived.



     (c) If an Event of Default arising from certain events of bankruptcy or insolvency occurs and
is continuing occurs and is continuing, the principal of, premium, if any, and accrued and unpaid
interest on all the Notes shall become and be immediately due and payable without any declaration
or other act on the part of the Trustee or any Holders.



     (d) The Holders of a majority in aggregate principal amount of the then outstanding Notes may
waive all past defaults (except with respect to a continuing Default or Event of Default with
respect to nonpayment of principal, premium or interest on the Notes) and rescind any such
acceleration with respect to the Notes and its consequences if (1) rescission would not conflict
with any judgment or decree of a court of competent jurisdiction and (2) all existing Events of
Default, other than the nonpayment of the principal of, premium, if any, and interest on the Notes
that have become due solely by such declaration of acceleration, have been cured or waived.



     (e) If a Default occurs and is continuing and is known to the Trustee, the Trustee shall mail
to each Holder notice of the Default within 90 days after it occurs. Except in the case of a
Default in the payment of principal of, premium, if any, or interest on any Note, the Trustee may
withhold notice if and so long as a committee of Trust Officers of the Trustee in good faith
determines that withholding notice is in the interests of the Holders. In addition, the Company
shall deliver to the Trustee, within 120 days after the end of each fiscal year, a certificate
indicating whether the signers thereof know of any Default that occurred during the previous year.



     13. AUTHENTICATION. This Note shall not be entitled to any benefit under the Indenture or be
valid or obligatory for any purpose until authenticated by the manual signature of the Trustee.



     14. GOVERNING LAW. THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THE
INDENTURE, THE NOTES AND THE GUARANTEES.



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



B-8









 





     The Company will furnish to any Holder upon written request and without charge a copy of the
Indenture. Requests may be made to the Company at the following address:



c/o MedAssets, Inc.

100 North Point Center East, Suite 200

Alpharetta, Georgia 30022

Fax No.: 678-323-2515

Attention: Jonathan H. Glenn,

            Chief Legal and

                      Administrative Officer





B-9











 





ASSIGNMENT FORM




     To assign this Security, fill in the form below:



     I or we assign and transfer this Security to:



 
(Print or type assignee’s name, address and zip code)




 
(Insert assignee’s social security or tax I.D. No.)



and irrevocably appoint                                          agent to transfer this Security on the books of the
Company. The agent may substitute another to act for him.



Date:                                                                        
                        Your Signature:                                                                             



Signature Guarantee:                                                                  
            




(Signature must be guaranteed)



Sign exactly as your name appears on the other side of this Security.



The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers,
savings and loan associations and credit unions with membership in an approved signature guarantee
medallion program), pursuant to S.E.C. Rule 17Ad-15.



The undersigned hereby certifies that it [ is / is not] an Affiliate of the Company and that, to
its knowledge, the proposed transferee [ is / is not] an Affiliate of the Company.




     In connection with any transfer or exchange of any of the Notes evidenced by this certificate
occurring prior to the date that is one year after the later of the date of original issuance of
such Notes and the last date, if any, on which such Notes were owned by the Company or any
Affiliate of the Company, the undersigned confirms that such Notes are being:


CHECK ONE BOX BELOW:




	 	 	 	 	 

	(1)

	 	o
	 	acquired for the undersigned’s own account, without transfer; or
	 
	 	 	 	 
	(2)

	 	o
	 	transferred to the Company; or
	 
	 	 	 	 
	(3)

	 	o
	 	transferred pursuant to and in compliance with Rule 144A under the Securities Act of 1933, as
amended (the “Securities Act”); or
	 
	 	 	 	 
	(4)

	 	o
	 	transferred pursuant to an effective registration statement under the Securities Act; or
	 
	 	 	 	 
	(5)

	 	o
	 	transferred pursuant to and in compliance with Regulation S under the Securities Act; or
	 
	 	 	 	 
	(6)

	 	o
	 	transferred to an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3)
or (7) under the Securities Act), that has furnished to the Trustee a signed letter containing
certain representations and agreements (the form of which letter appears as Section 2.8 of the
Indenture); or






B-10









 






	 	 	 	 	 

	(7)

	 	o
	 	transferred pursuant to another available exemption from the registration requirements of the
Securities Act of 1933, as amended.





Unless one of the boxes is checked, the Trustee will refuse to register any of the Notes evidenced
by this certificate in the name of any person other than the Holder thereof; provided, however,
that if box (5), (6) or (7) is checked, the Company may require, prior to registering any such
transfer of the Notes, in its sole discretion, such legal opinions, certifications and other
information as the Company may reasonably request to confirm that such transfer is being made
pursuant to an exemption from, or in a transaction not subject to, the registration requirements of
the Securities Act of 1933, as amended, such as the exemption provided by Rule 144 under such Act.




	 	 	 	 	 	 	 

	 

	 	 	 	Signature	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Signature Guarantee:
	 	 	 	 	 	 
	 

	 	 	 	 	 
	 
	 	 	 	 	 	 
	(Signature must be guaranteed)	 	Signature	 	 
	 

	 	 	 	 	 	 




The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers,
savings and loan associations and credit unions with membership in an approved signature guarantee
medallion program), pursuant to S.E.C. Rule 17Ad-15.



TO BE COMPLETED BY PURCHASER IF BOX (1) OR (3) ABOVE IS CHECKED.



The undersigned represents and warrants that it is purchasing this Security for its own account or
an account with respect to which it exercises sole investment discretion and that it and any such
account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities
Act of 1933, as amended, and is aware that the sale to it is being made in reliance on Rule 144A
and acknowledges that it has received such information regarding the Company as the undersigned has
requested pursuant to Rule 144A or has determined not to request such information and that it is
aware that the transferor is relying upon the undersigned’s foregoing representations in order to
claim the exemption from registration provided by Rule 144A.




	 	 	 	 	 	 	 

	 

	 	 	 	Dated:	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	Signature	 	 
	 

	 	 	 	 	 	 





B-11









 






OPTION OF HOLDER TO ELECT PURCHASE




     If you want to elect to have this Note purchased by the Company pursuant to Section 4.10 or
4.14 of the Indenture, check the appropriate box below:



o Section 4.10     o Section 4.14




     If you want to elect to have only part of this Note purchased by the Company pursuant to
Section 4.10 or Section 4.14 of the Indenture, state the amount you elect to have purchased:



$                    



Date:                                        




	 	 	 	 	 

	 

	 	Your Signature:	 	 
	 

	 	 	 
	 

	 	 	(Sign exactly as your name appears
on the face of this Note)
	 
	 	 	 	 
	 

	 	Tax Identification No.:	 
	 

	 	 	 	 




Signature Guarantee*:                                                                 
            






 




			
	*	 	Participant in a recognized Signature Guarantee Medallion Program (or other signature
guarantor acceptable to the Trustee).




B-12









 










SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE*




     The initial outstanding principal amount of this Global Note is $______. The following
exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive
Note, or exchanges of a part of another Global or Definitive Note for an interest in this Global
Note, have been made:



	 	 	 	 	 	 	 	 	 

	Date of Exchange

	 	Amount of decrease
in Principal Amount
	 	Amount of increase
in Principal Amount
of this Global Note
	 	Principal Amount of
this Global Note
following such
decrease or
increase
	 	Signature of
authorized officer
of Trustee or
Custodian








 




			
	*	 	This schedule should be included only if the Note is issued in global form.





B-13









 





EXHIBIT C




FORM OF

TRANSFEREE LETTER OF REPRESENTATION




MedAssets, Inc.

100 North Point Center East, Suite 200

Alpharetta, Georgia 30022

Fax No.: 678-323-2515

Attention: Jonathan H. Glenn, Chief Legal and Administrative Officer



In care of




Wells Fargo Bank, National Association

50 South Sixth Street, Suite 1290

Minneapolis, MN 55402-1544

Fax No.: (612) 217-5651

Attention: Corporate Capital Markets




Ladies and Gentlemen:




     This certificate is delivered to request a transfer of $[     ] principal amount of the 8%
Senior Notes due 2018 (the “Notes”) of MedAssets, Inc. (the “Company”).



     Upon transfer, the Notes would be registered in the name of the new beneficial owner as
follows:


Name:



Address:



Taxpayer ID Number:




     The undersigned represents and warrants to you that:



     1. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or
(7) under the Securities Act of 1933, as amended (the “Securities Act”)), purchasing for
our own account or for the account of such an institutional “accredited investor” at least $250,000
principal amount of the Notes, and we are acquiring the Notes not with a view to, or for offer or
sale in connection with, any distribution in violation of the Securities Act. We have such
knowledge and experience in financial and business matters as to be capable of evaluating the
merits and risks of our investment in the Notes, and we invest in or purchase securities similar to
the Notes in the normal course of our business. We, and any accounts for which we are acting, are
each able to bear the economic risk of our or its investment.



     2. We understand that the Notes have not been registered under the Securities Act and, unless
so registered, may not be sold except as permitted in the following sentence. We agree on our own
behalf and on behalf of any investor account for which we are purchasing Notes to offer, sell or
otherwise transfer such Notes prior to the date that is two years after the later of the date of
original issue and the last date on which the Company or any affiliate of the Company was the owner
of such Notes (or any predecessor thereto) (the “Resale Restriction Termination Date”) only
(a) to the Company, (b) pursuant to a registration statement that has been declared effective under
the Securities Act, (c) in a transaction complying with the requirements of Rule 144A under the
Securities Act (“Rule 144A”), to a person we reasonably believe is a qualified
institutional buyer under Rule 144A (a “QIB”) that is purchasing for its own account or for
the account of a QIB and to whom notice is given that the transfer is being made in reliance on
Rule 144A, (d) pursuant to offers and sales that occur outside the United States within the meaning
of Regulation S under the Securities Act, (e) to an institutional “accredited investor” within the
meaning of Rule



C-1









 




501(a)(1), (2), (3) or (7) under the Securities Act that is purchasing for its own account or
for the account of such an institutional “accredited investor,” in each case in a minimum principal
amount of Notes of $250,000, or (f) pursuant to any other available exemption from the registration
requirements of the Securities Act, subject in each of the foregoing cases to any requirement of
law that the disposition of our property or the property of such investor account or accounts be at
all times within our or their control and in compliance with any applicable state securities laws.
The foregoing restrictions on resale will not apply subsequent to the Resale Restriction
Termination Date. If any resale or other transfer of the Notes is proposed to be made pursuant to
clause (e) above prior to the Resale Restriction Termination Date, the transferor shall deliver a
letter from the transferee substantially in the form of this letter to the Company and the Trustee,
which shall provide, among other things, that the transferee is an institutional “accredited
investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act and that
it is acquiring such Notes for investment purposes and not for distribution in violation of the
Securities Act. Each purchaser acknowledges that the Company and the Trustee reserve the right
prior to the offer, sale or other transfer prior to the Resale Restriction Termination Date of the
Notes pursuant to clause (d), (e) or (f) above to require the delivery of an opinion of counsel,
certifications or other information satisfactory to the Company and the Trustee.




	 	 	 	 	 

	 

	 	TRANSFEREE:	 	 
	 

	 	 	 	 
	 

	 	 	 	by:






C-2









 





EXHIBIT D




FORM OF SUPPLEMENTAL INDENTURE

TO BE DELIVERED BY SUBSEQUENT SUBSIDIARY GUARANTORS




     Supplemental Indenture (this “Supplemental Indenture”), dated as of
, among (the “Subsidiary Guarantor”), a subsidiary of MedAssets, Inc.,
a Delaware corporation (the “Company”), and Wells Fargo Bank, National Association, as
trustee (the “Trustee”).



WITNESSETH:




     WHEREAS, each of the Company and the Subsidiary Guarantors (as defined in the Indenture
referred to below) has heretofore executed and delivered to the Trustee an indenture (the
“Indenture”), dated as of November 16, 2010, providing for the issuance of an unlimited
aggregate principal amount of 8% Senior Notes due 2018 (the “Notes”);



     WHEREAS, the Indenture provides that under certain circumstances the Subsidiary Guarantor
shall execute and deliver to the Trustee a supplemental indenture pursuant to which the Subsidiary
Guarantor shall unconditionally guarantee all of the Company’s Obligations under the Notes and the
Indenture on the terms and conditions set forth herein and under the Indenture (the “Subsidiary
Guarantee”); and



     WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and
deliver this Supplemental Indenture.



     NOW THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the parties mutually covenant and agree
for the equal and ratable benefit of the Holders of the Notes as follows:



     (1) Capitalized Terms. Capitalized terms used herein without definition shall have
the meanings assigned to them in the Indenture.



     (2) Agreement to Subsidiary Guarantee. The Subsidiary Guarantor hereby agrees as
follows:




     (a) Along with all Subsidiary Guarantors named in the Indenture, subject to Article 10
of the Indenture, to jointly and severally unconditionally guarantee, on a senior unsecured
basis, to each Holder of a Note authenticated and delivered by the Trustee and to the
Trustee and its successors and assigns, irrespective of the validity and enforceability of
the Indenture, the Notes or the obligations of the Company hereunder, that:




     (i) the principal of, premium, if any, or interest on or Additional Interest,
if any, on the Notes shall be promptly paid in full when due, whether at maturity,
by acceleration, redemption or otherwise, and interest on the overdue principal of
and interest on the Notes, if any, if lawful, and all other obligations of the
Company to the Holders or the Trustee thereunder shall be promptly paid in full or
performed, all in accordance with the terms thereof; and




     (ii) in case of any extension of time of payment or renewal of any Notes or any
of such other obligations, that same shall be promptly paid in full when due or
performed in accordance with the terms of the extension or renewal, whether at
Stated Maturity, by acceleration or otherwise. Failing payment when due of any
amount so guaranteed or any performance so guaranteed for whatever reason, the
Subsidiary Guarantor and the other Subsidiary Guarantors named in the Indenture
shall be jointly and severally obligated to pay the same immediately. This is a
guarantee of payment and not a guarantee of collection.




     (b) The obligations hereunder shall be unconditional, irrespective of the validity,
regularity or enforceability of the Notes or the Indenture, the absence of any action to
enforce the same, any waiver or



D-1









 







consent by any Holder of the Notes with respect to any provisions hereof or thereof,
the recovery of any judgment against the Company, any action to enforce the same or any
other circumstance which might otherwise constitute a legal or equitable discharge or
defense of a guarantor.




     (c) The following is hereby waived: diligence, presentment, demand of payment, filing
of claims with a court in the event of insolvency or bankruptcy of the Company, any right to
require a proceeding first against the Company, protest, notice and all demands whatsoever.




     (d) This Subsidiary Guarantee shall not be discharged except by complete performance of
the obligations contained in the Notes, the Indenture and this Supplemental Indenture, and
the Subsidiary Guarantor accepts all obligations of a Subsidiary Guarantor under the
Indenture.




     (e) If any Holder or the Trustee is required by any court or otherwise to return to the
Company, the Subsidiary Guarantors (including the Subsidiary Guarantor), or any custodian,
trustee, liquidator or other similar official acting in relation to either the Company or
the Subsidiary Guarantors, any amount paid either to the Trustee or such Holder, this
Subsidiary Guarantee, to the extent theretofore discharged, shall be reinstated in full
force and effect.




     (f) The Subsidiary Guarantor shall not be entitled to any right of subrogation in
relation to the Holders in respect of any obligations guaranteed hereby until payment in
full of all obligations guaranteed hereby.




     (g) As between the Subsidiary Guarantor, on the one hand, and the Holders and the
Trustee, on the other hand, (x) the maturity of the obligations guaranteed hereby may be
accelerated as provided in Article 6 of the Indenture for the purposes of this Subsidiary
Guarantee, notwithstanding any stay, injunction or other prohibition preventing such
acceleration in respect of the obligations guaranteed hereby, and (y) in the event of any
declaration of acceleration of such obligations as provided in Article 6 of the Indenture,
such obligations (whether or not due and payable) shall forthwith become due and payable by
the Subsidiary Guarantor for the purpose of this Subsidiary Guarantee.




     (h) If the Subsidiary Guarantor makes a payment under its Subsidiary Guarantee, the
Subsidiary Guarantor will be entitled upon payment in full of all Guaranteed Obligations
under the Indenture to a contribution from each other Subsidiary Guarantor in an amount
equal to such other Subsidiary Guarantor’s pro rata portion of such payment based on the
respective net assets of all the Subsidiary Guarantors at the time of such payment
determined in accordance with GAAP.




     (i) Pursuant to Section 10.02 of the Indenture, the obligations of the Subsidiary
Guarantor under this Subsidiary Guarantee shall be limited to the maximum amount as will,
after giving effect to such maximum amount and all other contingent and fixed liabilities of
such Subsidiary Guarantor that are relevant under any applicable Bankruptcy Law or
fraudulent conveyance laws, and after giving effect to any collections from, rights to
receive contribution from or payments made by or on behalf of any other Subsidiary Guarantor
in respect of the obligations of such other Subsidiary Guarantor under Article 10 of the
Indenture, result in the obligations of such Subsidiary Guarantor under this Subsidiary
Guarantee not constituting a fraudulent conveyance or fraudulent transfer under applicable
law.




     (j) This Subsidiary Guarantee shall remain in full force and effect and continue to be
effective should any petition be filed by or against the Company for liquidation, reorganization,
should the Company become insolvent or make an assignment for the benefit of
creditors or should a receiver or trustee be appointed for all or any significant part of
the Company’s assets, and shall, to the fullest extent permitted by law, continue to be
effective or be reinstated, as the case may be, if at any time payment and performance of
the Notes are, pursuant to applicable law, rescinded or reduced in amount, or must otherwise
be restored or returned by any obligee on the Notes and Subsidiary Guarantee, whether as a
“voidable preference,” “fraudulent transfer” or otherwise, all as though such payment or
performance had not been made. In the event that any payment or any part thereof, is
rescinded, reduced, restored or returned, the Note shall,



D-2









 







to the fullest extent permitted by law, be reinstated and deemed reduced only by such
amount paid and not so rescinded, reduced, restored or returned.




     (k) In case any provision of this Subsidiary Guarantee 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.




     (l) Each payment to be made by the Subsidiary Guarantor in respect of this Subsidiary
Guarantee shall be made without set-off, counterclaim, reduction or diminution of any kind
or nature.



     (3) Execution and Delivery. The Subsidiary Guarantor agrees that the Subsidiary
Guarantee shall remain in full force and effect notwithstanding the absence of the endorsement of
any notation of such Subsidiary Guarantee on the Notes.



     (4) Merger, Consolidation or Sale of All or Substantially All Assets.




     (a) Except as otherwise provided in Section 5.01(b) of the Indenture, the Subsidiary
Guarantor may not consolidate or merge with or into or wind up into (whether or not the
Company or Subsidiary Guarantor is the surviving corporation), or sell, assign, convey,
transfer or otherwise dispose of all or substantially all of its properties or assets, in
one or more related transactions, to any Person (other than to the Company or another
Subsidiary Guarantor) unless:




     (i) if such entity remains a Subsidiary Guarantor, the resulting, surviving or
transferee Person (the “Successor Guarantor”) will be a corporation,
partnership, trust or limited liability company organized and existing under the
laws of the United States of America, any State of the United States, the District
of Columbia or any other territory thereof;




     (ii) the Successor Guarantor, if other than such Subsidiary Guarantor,
expressly assumes all the obligations of such Subsidiary Guarantor under the Notes
and the Indenture pursuant to a supplemental indenture or other documents or
instruments in form reasonably satisfactory to the Trustee;




     (iii) immediately after giving effect to such transaction, no Default of Event
of Default shall have occurred and be continuing;




     (iv) the Company shall have delivered to the Trustee an Officers’ Certificate
and an Opinion of Counsel, each stating that such consolidation, merger or transfer
and such supplemental indenture (if any) comply with the Indenture; and




     (v) the transaction is made in compliance with Section 4.10 and Section 5.01 of
the Indenture.




     (b) Subject to certain limitations described in the Indenture, the Successor Guarantor
will succeed to, and be substituted for, the Subsidiary Guarantor under the Indenture and
the Subsidiary Guarantor’s Guarantee. Notwithstanding the foregoing, the Subsidiary
Guarantor may merge into or transfer all or part of its properties and assets to another
Subsidiary Guarantor or the Company or merge with a Restricted Subsidiary of the Company
solely for the purpose of reincorporating the Subsidiary Guarantor in a State of the United
States, the District of Columbia or any territory of the United States, as long as the
amount of Indebtedness of such Subsidiary Guarantor is not increased thereby.



     (5) Releases.



     (a) The Subsidiary Guarantee of the Subsidiary Guarantor shall be automatically and
unconditionally released and discharged, and no further action by the Subsidiary Guarantor, the
Company or the Trustee is required for the release of the Subsidiary Guarantor’s Subsidiary
Guarantee, upon:



D-3









 






     (i) the occurrence of any sale, exchange, transfer or other disposition (by merger,
consolidation or otherwise) of the Capital Stock of the Subsidiary Guarantor (including any
sale, exchange, transfer or other disposition after which the Subsidiary Guarantor is no
longer a Restricted Subsidiary) or of all or substantially all the assets and property of
the Subsidiary Guarantor, which sale, exchange, transfer or other disposition is made in
compliance with the applicable provisions of the Indenture;




     (ii) the release or discharge of the Subsidiary Guarantor from its Guarantee of
Indebtedness of the Company and the Subsidiary Guarantors under the Senior Credit Facility
(including by reason of the termination of the Senior Credit Facility), if such Subsidiary
Guarantor would not then otherwise be required to guarantee the Notes pursuant to the
Indenture, except a discharge or release by or as a result of payment under such Guarantee;
provided, that if such Subsidiary Guarantor has Incurred any Indebtedness or issued any
Preferred Stock or Disqualified Stock in reliance on its status as a Subsidiary Guarantor
under Section 4.09 of the Indenture, such Subsidiary Guarantor’s obligations under such
Indebtedness, Disqualified Stock or Preferred Stock, as the case may be, so Incurred are
satisfied in full or discharged or are otherwise permitted to be incurred under Section 4.09
of the Indenture.




     (iii) the designation of any Restricted Subsidiary that is a Subsidiary Guarantor as an
Unrestricted Subsidiary in accordance with the Indenture;




     (iv) the Company exercising its Legal Defeasance option or Covenant Defeasance option
in accordance with Article 8 of the Indenture or the Company’s obligations under the
Indenture being discharged in accordance with the terms of the Indenture; and




     (v) the Company delivering to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent provided for in the Indenture relating
to such transaction have been complied with.



     (6) No Recourse Against Others. No director, officer, employee, incorporator or
stockholder of the Subsidiary Guarantor shall have any liability for any obligations of the Company
or the Subsidiary Guarantors (including the Subsidiary Guarantor) under the Notes, the Subsidiary
Guarantees, the Indenture or this Supplemental Indenture or for any claim based on, in respect of,
or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and
releases all such liability. The waiver and release are part of the consideration for issuance of
the Notes.



     (7) Governing Law. THIS SUPPLEMENTAL INDENTURE WILL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.



     (8) Counterparts. The parties may sign any number of copies of this Supplemental
Indenture. Each signed copy shall be an original, but all of them together represent the same
agreement.



     (9) Effect of Headings. The Section headings herein are for convenience only and
shall not affect the construction hereof.



     (10) The Trustee. The Trustee shall not be responsible in any manner whatsoever for
or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of
the recitals contained herein, all of which recitals are made solely by the Subsidiary Guarantor.



     (11) Subrogation. The Subsidiary Guarantor shall be subrogated to all rights of
Holders of Notes against the Company in respect of any amounts paid by the Subsidiary Guarantor
pursuant to the provisions of Section 2 hereof and Section 11.01 of the Indenture; provided that,
if an Event of Default has occurred and is continuing, the Subsidiary Guarantor shall not be
entitled to enforce or receive any payments arising out of, or based upon, such right of
subrogation until all amounts then due and payable by the Company under the Indenture or the Notes
shall have been paid in full.



D-4









 





     (12) Benefits Acknowledged. The Subsidiary Guarantor’s Subsidiary Guarantee is
subject to the terms and conditions set forth in the Indenture. The Subsidiary Guarantor
acknowledges that it will receive direct and indirect benefits from the financing arrangements
contemplated by the Indenture and this Supplemental Indenture and that the guarantee and waivers
made by it pursuant to this Subsidiary Guarantee are knowingly made in contemplation of such
benefits.



     (13) Successors. All agreements of the Subsidiary Guarantor in this Supplemental
Indenture shall bind its successors, except as otherwise provided in this Supplemental Indenture.
All agreements of the Trustee in this Supplemental Indenture shall bind its successors.



D-5









 





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



	 	 	 	 	 
	 	MEDASSETS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[GUARANTEEING SUBSIDIARY]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 




D-6