exv4w19






Exhibit 4.19




 

 






MARINER ENERGY, INC.




THE GUARANTORS PARTIES HERETO,




AND




                                                            ,

AS TRUSTEE




 






INDENTURE




Dated as of                                         




 






Subordinated Debt Securities




 

 







 









 








TABLE OF CONTENTS




	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE	 	 	1	 
	Section 1.1.
	 	Definitions	 	 	1	 
	Section 1.2.
	 	Other Definitions	 	 	11	 
	Section 1.3.
	 	Incorporation by Reference of Trust Indenture Act	 	 	12	 
	Section 1.4.
	 	Rules of Construction	 	 	13	 
	 
	 	 	 	 	 	 
	ARTICLE II THE SECURITIES	 	 	13	 
	Section 2.1.
	 	Form, Dating and Terms	 	 	13	 
	Section 2.2.
	 	Denominations	 	 	17	 
	Section 2.3.
	 	Forms Generally	 	 	17	 
	Section 2.4.
	 	Execution, Authentication, Delivery and Dating	 	 	17	 
	Section 2.5.
	 	Registrar and Paying Agent	 	 	19	 
	Section 2.6.
	 	Paying Agent to Hold Money in Trust	 	 	20	 
	Section 2.7.
	 	Holder Lists	 	 	20	 
	Section 2.8.
	 	Transfer and Exchange	 	 	20	 
	Section 2.9.
	 	Mutilated, Destroyed, Lost or Wrongfully Taken Securities	 	 	21	 
	Section 2.10.
	 	Outstanding Securities	 	 	22	 
	Section 2.11.
	 	Cancellation	 	 	22	 
	Section 2.12.
	 	Payment of Interest; Defaulted Interest	 	 	22	 
	Section 2.13.
	 	Temporary Securities	 	 	23	 
	Section 2.14.
	 	Persons Deemed Owners	 	 	24	 
	Section 2.15.
	 	Computation of Interest	 	 	24	 
	Section 2.16.
	 	Global Securities; Book-Entry Provisions	 	 	24	 
	Section 2.17.
	 	CUSIP Numbers, Etc.	 	 	26	 
	Section 2.18.
	 	Original Issue Discount and Foreign-Currency Denominated Securities	 	 	26	 
	 
	 	 	 	 	 	 
	ARTICLE III COVENANTS	 	 	27	 
	Section 3.1.
	 	Payment of Securities	 	 	27	 
	Section 3.2.
	 	Reports	 	 	27	 
	Section 3.3.
	 	Maintenance of Office or Agency	 	 	28	 
	Section 3.4.
	 	Corporate Existence	 	 	28	 
	Section 3.5.
	 	Compliance Certificate	 	 	29	 
	Section 3.6.
	 	Statement by Officers as to Default	 	 	29	 
	Section 3.7.
	 	Additional Amounts	 	 	29	 
	 
	 	 	 	 	 	 
	ARTICLE IV SUCCESSOR COMPANY	 	 	30	 
	Section 4.1.
	 	Merger, Consolidation or Sale of Assets	 	 	30	 
	 
	 	 	 	 	 	 
	ARTICLE V REDEMPTION OF SECURITIES	 	 	31	 
	Section 5.1.
	 	Applicability of Article	 	 	31	 
	Section 5.2.
	 	Election to Redeem; Notice to Trustee	 	 	31	 
	Section 5.3.
	 	Selection by Trustee of Securities to Be Redeemed	 	 	31	 






i









 






	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	Section 5.4.
	 	Notice of Redemption	 	 	31	 
	Section 5.5.
	 	Deposit of Redemption Price	 	 	32	 
	Section 5.6.
	 	Securities Payable on Redemption Date	 	 	33	 
	Section 5.7.
	 	Securities Redeemed in Part	 	 	33	 
	 
	 	 	 	 	 	 
	ARTICLE VI DEFAULTS AND REMEDIES	 	 	33	 
	Section 6.1.
	 	Events of Default	 	 	33	 
	Section 6.2.
	 	Acceleration	 	 	35	 
	Section 6.3.
	 	Other Remedies	 	 	36	 
	Section 6.4.
	 	Waiver of Past Defaults	 	 	36	 
	Section 6.5.
	 	Control by Majority	 	 	36	 
	Section 6.6.
	 	Limitation on Suits	 	 	36	 
	Section 6.7.
	 	Rights of Holders to Receive Payment	 	 	37	 
	Section 6.8.
	 	Collection Suit by Trustee	 	 	37	 
	Section 6.9.
	 	Trustee May File Proofs of Claim	 	 	37	 
	Section 6.10.
	 	Priorities	 	 	38	 
	Section 6.11.
	 	Undertaking for Costs	 	 	38	 
	Section 6.12.
	 	Waiver of Stay, Extension and Usury Laws	 	 	38	 
	 
	 	 	 	 	 	 
	ARTICLE VI DEFAULTS AND REMEDIES	 	 	39	 
	Section 7.1.
	 	Duties of Trustee	 	 	39	 
	Section 7.2.
	 	Rights of Trustee	 	 	40	 
	Section 7.3.
	 	Individual Rights of Trustee	 	 	41	 
	Section 7.4.
	 	Trustee’s Disclaimer	 	 	41	 
	Section 7.5.
	 	Notice of Defaults	 	 	42	 
	Section 7.6.
	 	Reports by Trustee to Holders	 	 	42	 
	Section 7.7.
	 	Compensation and Indemnity	 	 	42	 
	Section 7.8.
	 	Replacement of Trustee	 	 	43	 
	Section 7.9.
	 	Successor Trustee by Merger	 	 	44	 
	Section 7.10.
	 	Eligibility; Disqualification	 	 	45	 
	Section 7.11.
	 	Preferential Collection of Claims Against Company	 	 	45	 
	 
	 	 	 	 	 	 
	ARTICLE VIII LEGAL DEFEASANCE AND COVENANT DEFEASANCE	 	 	45	 
	Section 8.1.
	 	Option to Effect Legal Defeasance or Covenant Defeasance	 	 	45	 
	Section 8.2.
	 	Legal Defeasance and Discharge	 	 	45	 
	Section 8.3.
	 	Covenant Defeasance	 	 	46	 
	Section 8.4.
	 	Conditions to Legal or Covenant Defeasance	 	 	46	 
	Section 8.5.
	 	Deposited Cash and Government Securities to be Held in Trust; Other Miscellaneous Provisions	 	 	48	 
	Section 8.6.
	 	Repayment to Company	 	 	48	 
	Section 8.7.
	 	Reinstatement	 	 	49	 
	 
	 	 	 	 	 	 
	ARTICLE IX AMENDMENTS	 	 	49	 
	Section 9.1.
	 	Without Consent of Holders	 	 	49	 
	Section 9.2.
	 	With Consent of Holders	 	 	50	 
	Section 9.3.
	 	Compliance with Trust Indenture Act	 	 	52	 
	Section 9.4.
	 	Revocation and Effect of Consents and Waivers	 	 	52	 






ii









 






	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	Section 9.5.
	 	Notation on or Exchange of Securities	 	 	53	 
	Section 9.6.
	 	Trustee To Sign Amendments	 	 	53	 
	 
	 	 	 	 	 	 
	ARTICLE X SUBORDINATION	 	 	53	 
	Section 10.1.
	 	Securities and Guarantees Subordinated to Senior Debt	 	 	53	 
	Section 10.2.
	 	No Payment on Securities in Certain Circumstances	 	 	53	 
	Section 10.3.
	 	Securities and Guarantees Subordinated to Prior Payment of All Senior Debt on Dissolution, Liquidation or Reorganization	 	 	55	 
	Section 10.4.
	 	Subrogation to Rights of Holders of Senior Debt	 	 	56	 
	Section 10.5.
	 	Obligations of the Company and Guarantors Unconditional	 	 	56	 
	Section 10.6.
	 	Trustee Entitled to Assume Payments Not Prohibited in Absence of Notice	 	 	57	 
	Section 10.7.
	 	Application by Trustee of Amounts Deposited with It	 	 	57	 
	Section 10.8.
	 	Subordination Rights Not Impaired by Acts or Omissions of the Company, the Guarantors or Holders of Senior Debt	 	 	58	 
	Section 10.9.
	 	Trustee to Effectuate Subordination of Securities	 	 	58	 
	Section 10.10.
	 	Right of Trustee to Hold Senior Debt	 	 	58	 
	Section 10.11.
	 	Article X Not to Prevent Events of Default	 	 	59	 
	Section 10.12.
	 	No Fiduciary Duty of Trustee to Holders of Senior Debt	 	 	59	 
	Section 10.13.
	 	Article Applicable to Paying Agent	 	 	59	 
	 
	 	 	 	 	 	 
	ARTICLE XI SECURITIES GUARANTEE	 	 	59	 
	Section 11.1.
	 	Securities Guarantee	 	 	59	 
	Section 11.2.
	 	Execution and Delivery of Securities Guarantees; Notations of Guarantees	 	 	61	 
	Section 11.3.
	 	Limitation on Liability; Termination, Release and Discharge	 	 	62	 
	Section 11.4.
	 	Limitation of Guarantors’ Liability	 	 	63	 
	Section 11.5.
	 	Contribution	 	 	63	 
	 
	 	 	 	 	 	 
	ARTICLE XII SATISFACTION AND DISCHARGE	 	 	63	 
	Section 12.1.
	 	Satisfaction and Discharge	 	 	63	 
	 
	 	 	 	 	 	 
	ARTICLE XIII MISCELLANEOUS	 	 	64	 
	Section 13.1.
	 	Trust Indenture Act Controls	 	 	64	 
	Section 13.2.
	 	Notices	 	 	65	 
	Section 13.3.
	 	Communication by Holders with other Holders	 	 	65	 
	Section 13.4.
	 	Certificate and Opinion as to Conditions Precedent	 	 	65	 
	Section 13.5.
	 	Statements Required in Certificate or Opinion	 	 	66	 
	Section 13.6.
	 	When Securities Disregarded	 	 	66	 
	Section 13.7.
	 	Rules by Trustee, Paying Agent and Registrar	 	 	67	 
	Section 13.8.
	 	Legal Holidays	 	 	67	 
	Section 13.9.
	 	GOVERNING LAW	 	 	67	 
	Section 13.10.
	 	No Recourse Against Others	 	 	67	 
	Section 13.11.
	 	Successors	 	 	67	 
	Section 13.12.
	 	Multiple Originals	 	 	67	 
	Section 13.13.
	 	Severability	 	 	67	 
	Section 13.14.
	 	No Adverse Interpretation of Other Agreements	 	 	67	 
	Section 13.15.
	 	Table of Contents; Headings	 	 	67	 






iii









 






CROSS-REFERENCE TABLE




	 	 	 	 	 	 	 
	TIA	 	 	 	 	Indenture
	Section	 	 	 	 	Section
	 
	 	 	 	 	 	 
	310(a)(1)

	 	 	 	 	7.10	 
	(a)(2)

	 	 	 	 	7.10	 
	(a)(3)

	 	 	 	 	N.A.	 
	(a)(4)

	 	 	 	 	N.A.	 
	(b)

	 	 	 	 	7.8; 7.10	 
	(c)

	 	 	 	 	N.A.	 
	311(a)

	 	 	 	 	7.11	 
	(b)

	 	 	 	 	7.11	 
	(c)

	 	 	 	 	N.A.	 
	312(a)

	 	 	 	 	2.7	 
	(b)

	 	 	 	 	13.3	 
	(c)

	 	 	 	 	13.3	 
	313(a)

	 	 	 	 	7.6	 
	(b)(1)

	 	 	 	 	7.6	 
	(b)(2)

	 	 	 	 	7.6	 
	(c)

	 	 	 	 	7.6	 
	(d)

	 	 	 	 	7.6	 
	314(a)

	 	 	 	 	3.2; 13.2	 
	(b)

	 	 	 	 	N.A.	 
	(c)(1)

	 	 	 	 	11.4	 
	(c)(2)

	 	 	 	 	11.4	 
	(c)(3)

	 	 	 	 	N.A.	 
	(d)

	 	 	 	 	N.A.	 
	(e)

	 	 	 	 	13.5	 
	315(a)

	 	 	 	 	7.1	 
	(b)

	 	 	 	 	7.5; 13.2	 
	(c)

	 	 	 	 	7.1	 
	(d)

	 	 	 	 	7.1	 
	(e)

	 	 	 	 	6.11	 
	316(a)(last sentence)

	 	 	 	 	13.6	 
	(a)(1)(A)

	 	 	 	 	6.5	 
	(a)(1)(B)

	 	 	 	 	6.4	 
	(a)(2)

	 	 	 	 	N.A.	 
	(b)

	 	 	 	 	6.7	 
	317(a)(1)

	 	 	 	 	6.8	 
	(a)(2)

	 	 	 	 	6.9	 
	(b)

	 	 	 	 	2.6	 
	318(a)

	 	 	 	 	13.1	 








 




			
	N.A.	 	means Not Applicable.




Note: This Cross-Reference Table shall not, for any purpose, be deemed to be part of this
Indenture.





iv











 





     INDENTURE dated as of                                         , among MARINER ENERGY, INC., a Delaware corporation (the
“Company”), the GUARANTORS (as defined herein) and                                         , a                     
banking association, as trustee (the “Trustee”).



     The Company and the Guarantors have duly authorized the execution and delivery of this
Indenture to provide for the issuance from time to time of the Company’s debentures, notes, bonds
or evidence of indebtedness to be issued from time to time in one or more series unlimited as to
principal amount (herein called the “Securities”), and the related Securities Guarantees
(as hereinafter defined), if any, as provided in this Indenture.



     The Company and the Guarantors are members of the same consolidated group of companies. The
Guarantors will derive direct and indirect economic benefit from the issuance of the Securities.
Accordingly, each Guarantor has duly authorized the execution and delivery of this Indenture in
light of the possibility that such Guarantor will provide its full and unconditional guarantee of a
series of the Securities to the extent provided in this Indenture.



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



     NOW, THEREFORE, THIS INDENTURE WITNESSETH:



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



ARTICLE I




Definitions and Incorporation by Reference




     Section 1.1. Definitions.



     “Additional Amounts” means any additional amounts required by the express terms of a
Security or by or pursuant to a Board Resolution, under circumstances specified therein or pursuant
thereto, to be paid by the Company with respect to certain taxes, assessments or other governmental
charges imposed on certain Holders and that are owing to those Holders.



     “Adjusted Net Assets” of a Guarantor at any date means the amount by which the fair
value of the properties and assets of such Guarantor exceeds the total amount of liabilities,
including, without limitation, contingent liabilities (after giving effect to all other fixed and
contingent liabilities incurred or assumed on such date), but excluding liabilities under its
Securities Guarantee, of such Guarantor at such date.



     “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 purposes of this definition, “control,” as used with respect to any Person, means the
possession, directly or indirectly, of the power to direct or cause the direction of the management
or policies of such Person, whether through the ownership of voting securities, by agreement or



1









 




otherwise. For purposes of this definition, the terms “controlling,” “controlled by” and
“under common control with” have correlative meanings.




     “Attributable Debt” in respect of a sale and leaseback transaction means, at the time
of determination, the present value of the obligation of the lessee for net rental payments during
the remaining term of the lease included in such sale and leaseback transaction including any
period for which such lease has been extended or may, at the option of the lessor, be extended.
Such present value shall be calculated using a discount rate equal to the rate of interest implicit
in such transaction, determined in accordance with GAAP.



     “Bankruptcy Law” means Title 11, United States Code or any similar Federal or
state law for the relief of debtors.



     “Board of Directors” means:




	 	(1)	 	with respect to a corporation, the board of directors of the corporation or any
committee thereof duly authorized to act on behalf of such board;
	 
	 	(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 of managing members thereof; and
	 
	 	(4)	 	with respect to any other Person, the board or committee of such Person serving
a similar function.





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



     “Business Day” means each day that is not a Saturday, Sunday or other day on which
banking institutions in New York, New York or another place of payment are authorized or required
by law to close.



     “Capital Lease Obligation” means, at the time any determination is to be made, the
amount of the liability in respect of a capital lease that would at that time be required to be
capitalized on a balance sheet prepared in accordance with GAAP, and the Stated Maturity thereof
shall be the date of the last payment of rent or any other amount due under such lease prior to the
first date upon which such lease may be prepaid by the lessee without payment of a penalty.



     “Capital Stock” means:




	 	(1)	 	in the case of a corporation, corporate stock;




2









 






	 	(2)	 	in the case of an association or business entity, any and all shares,
interests, participations, rights or other equivalents (however designated) of
corporate stock;
	 
	 	(3)	 	in the case of a partnership or limited liability company, partnership
interests (whether general or limited) or membership interests; and
	 
	 	(4)	 	any other interest or participation that confers on a Person the right to
receive a share of the profits and losses of, or distributions of assets of, the
issuing Person,
	 
	 	 	 	but excluding from all of the foregoing any debt securities convertible into Capital
Stock, whether or not such debt securities include any right of participation with
Capital Stock.





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



     “Company” has the meaning ascribed to it in the first introductory paragraph of this
Indenture.



     “Company Order” and “Company Request” mean, respectively, a written order or
request signed in the name of the Company by two Officers of the Company, and delivered to the
Trustee.



     “Credit Agreement” means that certain Amended and Restated Credit Agreement, dated as
of March 2, 2006, by and among the Company and Mariner Energy Resources, Inc., as borrowers, Union
Bank of California, N.A., as administrative agent and issuing lender, BNP Paribas, as syndication
agent, and the lenders from time to time party thereto, including any related notes, Guarantees,
collateral documents, instruments and agreements executed in connection therewith, and, in each
case, as amended, restated, modified, renewed, refunded, replaced (whether upon or after
termination or otherwise), supplemented or refinanced (including by means of sales of debt
securities to institutional investors) in whole or in part from time to time.



     “Credit Facilities” means, with respect to the Company or any of its Subsidiaries, one
or more debt facilities (including, without limitation, the Credit Agreement), commercial paper
facilities or debt issuances with banks, investment banks, insurance companies, mutual funds, other
institutional lenders, institutional investors or any of the foregoing providing for revolving
credit loans, term loans, receivables financing (including through the sale of receivables to such
lenders, other financiers or to special purpose entities formed to borrow from (or sell such
receivables to) such lenders or other financiers against such receivables), letters of credit,
bankers’ acceptances, other borrowings or debt issuances, in each case, as amended, restated,
modified, renewed, extended, refunded, replaced or refinanced (in each case, without limitation as
to amount), in whole or in part, from time to time (including through one or more debt issuances)
and any agreements and related documents governing Indebtedness or Obligations incurred to
refinance amounts then outstanding or permitted to be outstanding, whether or not with the original
administrative agent, lenders, investment banks, insurance companies, mutual funds, other
institutional lenders, institutional investors or any of the foregoing and whether provided under
the original agreement, indenture or other documentation relating thereto).



3









 





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



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



     “Depositary” means, with respect to the Securities of any series issuable or issued in
whole or in part in global form, the Person specified pursuant to Section 2.1 hereof as the
initial Depositary with respect to the Securities of that series, until a successor shall have been
appointed and become such pursuant to the applicable provision of this Indenture, and thereafter
“Depositary” shall mean or include that successor.



     “Designated Senior Debt,” unless otherwise provided with respect to the Securities of
a series as contemplated by Section 2.1, means any Senior Debt of the Company that (i) in
the instrument evidencing the same or the assumption or guarantee thereof (or related documents to
which the Company or any Guarantor is a party) is expressly designated as “Designated Senior Debt”
for purposes of this Indenture and (ii) satisfies such other conditions as may be provided with
respect to the Securities of that series; provided that those instruments or documents may place
limitations and conditions on the right of that Senior Debt to exercise the rights of Designated
Senior Debt.



     “Disqualified Stock” means, with respect to any series of Securities, any Capital
Stock 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 of the Capital Stock), or upon
the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund
obligation or otherwise, or redeemable at the option of the holder of the Capital Stock, in whole
or in part, on or prior to the date that is 91 days after the date on which the Securities of such
series mature; provided, that only the portion of Capital Stock which so matures or is mandatorily
redeemable, or is so redeemable at the option of the holder thereof prior to such date, will be
deemed to be Disqualified Stock. With respect to any series of Securities, notwithstanding the
preceding sentence, any Capital Stock that would constitute Disqualified Stock solely because the
holders of the Capital Stock have the right to require the Company to repurchase such Capital Stock
upon the occurrence of a change of control or an asset sale will not constitute Disqualified Stock
if the terms of such Capital Stock provide that the Company may not repurchase or redeem any such
Capital Stock pursuant to such provisions unless such repurchase or redemption complies with the
terms applicable to such series. The amount of Disqualified Stock deemed to be outstanding at any
time for purposes of this Indenture will be the maximum amount that the Company and its
Subsidiaries may become obligated to pay upon the maturity of, or pursuant to any mandatory
redemption provisions of, such Disqualified Stock, exclusive of accrued dividends.



     “Dollar” or “$” means a dollar or other equivalent unit in such coin or currency of
the United States as at the time shall be legal tender for the payment of public and private debt.



     “Dollar-Denominated Production Payments” means production payment obligations recorded
as liabilities in accordance with GAAP, together with all undertakings and obligations in
connection therewith.



4









 





     “DTC” means The Depository Trust Company, its nominees and their respective successors
and assigns, or such other depositary institution hereinafter appointed by the Company.



     “Equity Interests” means Capital Stock and all warrants, options or other rights to
acquire Capital Stock (but excluding any debt security that is convertible into, or exchangeable
for, Capital Stock).



     “Equity Offering” means, as to any series of Securities, any public or private sale of
Capital Stock (other than Disqualified Stock) by the Company after the applicable Issue Date.



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



     “Fair Market Value” means the value that would be paid by a willing buyer to an
unaffiliated willing seller in a transaction not involving distress or necessity of either party,
determined in good faith by the Board of Directors of the Company (unless otherwise provided in
this Indenture), which determination will be conclusive for all purposes under this Indenture.



     “GAAP” means (i) generally accepted accounting principles 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 have been approved by a significant segment of the
accounting profession, or (ii) if at such time the Company is required to prepare its financial
statements for reports filed with the Commission under Section 13 or 15(d) of the Exchange Act
pursuant to standards other than those specified in clause (i) (which may include International
Financial Reporting Standards), such other standards, in each case which are in effect from time to
time. All ratios and computations based on GAAP contained in this Indenture will be computed in
conformity with GAAP.



     “Global Securities” of any series means a Security of that series that is issued in
global form in the name of the Depositary with respect thereto or its nominee.



     “Government Securities” means direct obligations of, or obligations guaranteed by, the
United States of America for the payment of which obligations or guarantee the full faith and
credit of the United States of America is pledged.



     “Guarantee” means a guarantee other than by endorsement of negotiable instruments for
collection in the ordinary course of business, direct or indirect, in any manner including, without
limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements
in respect thereof, of all or any part of any indebtedness (whether arising by virtue of
partnership arrangements, or by agreements to keep-well, to maintain financial statement conditions
or otherwise), or 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).



     “Guarantors” means, with respect to any series of Securities, the Person or Persons,
if any, named in accordance with Section 2.1(9) as the “Guarantors” with respect to such
series and which (if other than the Initial Guarantors) shall have entered into a supplemental
indenture



5









 




pursuant to Section 9.1(10) hereof whereby such Person shall have executed a
Securities Guarantee under this Indenture with respect to such series of Securities and any other
Subsidiary of the Company who may execute this Indenture, or a supplement thereto, for the purpose
of providing a Securities Guarantee for such series of Securities pursuant to this Indenture, in
each case until, as to any particular Guarantor, a successor Person shall have become such pursuant
to the applicable provisions of this Indenture, and thereafter any reference to such “Guarantor”
shall mean such successor Person. If a series of Securities does not have any Guarantors, all
references in this Indenture to Guarantors shall have no effect and shall be ignored with respect
to such Securities.




     “Hedging Obligations” means, with respect to any specified Person, the obligations of
such Person under:




	 	(1)	 	interest rate swap agreements (whether from fixed to floating or from floating
to fixed), interest rate cap agreements and interest rate collar agreements entered
into with one or more financial institutions and other arrangements or agreements
designed to protect the Person entering into the agreement against fluctuations in
interest rates with respect to Indebtedness incurred and not for purposes of
speculation;
	 
	 	(2)	 	foreign exchange contracts and currency protection agreements entered into with
one or more financial institutions and designed to protect the Person entering into the
agreement against fluctuations in currency exchange rates with respect to Indebtedness
incurred and not for purposes of speculation;
	 
	 	(3)	 	any commodity futures contract, commodity option or other similar agreement or
arrangement designed to protect against fluctuations in the price of commodities used,
produced, processed or sold by that Person or any of its Subsidiaries at the time; and
	 
	 	(4)	 	other agreements or arrangements designed to protect such Person against
fluctuations in interest rates, commodity prices or currency exchange rates.





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



     “Indebtedness” means, with respect to any specified Person, any indebtedness of such
Person (excluding accrued expenses and trade payables), whether or not contingent:




	 	(1)	 	in respect of borrowed money;
	 
	 	(2)	 	evidenced by bonds, notes, debentures or similar instruments or letters of
credit (or reimbursement agreements in respect thereof);
	 
	 	(3)	 	in respect of banker’s acceptances;
	 
	 	(4)	 	representing Capital Lease Obligations or Attributable Debt in respect of sale
and leaseback transactions;




6









 






	 	(5)	 	representing the balance deferred and unpaid of the purchase price of any
property due more than nine months after such property is acquired;
	 
	 	(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, any Preferred Stock (but
excluding, in each case, any accrued dividends);
	 
	 	(7)	 	representing any Hedging Obligations;
	 
	 	(8)	 	the principal component of all Indebtedness of other Persons secured by a Lien
on any asset 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 at such date of determination and (b) the
amount of such Indebtedness of such other Persons; and
	 
	 	(9)	 	the principal component of Indebtedness of other Persons to the extent
Guaranteed by such Person (including, with respect to any Production Payment, any
warranties or guarantees of production or payment by such Person with respect to such
Production Payment, but excluding other contractual obligations of such Person with
respect to such Production Payment);




provided that the indebtedness described in clauses (1), (2), (4) and (5) shall be included in this
definition of Indebtedness only if, and to the extent that, the indebtedness described in such
clauses would appear as a liability upon a balance sheet of such Person prepared in accordance with
GAAP. Subject to clause (9) of the preceding sentence, neither Dollar-Denominated Production
Payments nor Volumetric Production Payments shall be deemed to be Indebtedness.




     The amount of any Indebtedness outstanding as of any date will be:




	 	(1)	 	the accreted value of the Indebtedness, in the case of any Indebtedness issued
with original issue discount;
	 
	 	(2)	 	in the case of any Hedging Obligation, the termination value of the agreement
or arrangement giving rise to such Hedging Obligation that would be payable by such
Person at such date; and
	 
	 	(3)	 	the principal amount of the Indebtedness, together with any interest on the
Indebtedness that is more than 30 days past due, in the case of any other Indebtedness.





     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.



     In addition, “Indebtedness” of any Person shall include Indebtedness described in the
preceding paragraph that would not appear as a liability on the balance sheet of such Person if:



7









 






	 	(1)	 	such Indebtedness is the obligation of a partnership or joint venture that is
not a Subsidiary (a “Joint Venture”);
	 
	 	(2)	 	such Person or a Subsidiary of such Person is a general partner of the Joint
Venture (a “General Partner”); and
	 
	 	(3)	 	there is recourse, by contract or operation of law, with respect to the payment
of such Indebtedness to property or assets by such Person or a Subsidiary of such
Person; and then such Indebtedness shall be included in an amount not to exceed:






	 	(a)	 	the lesser of (i) the net assets of the General Partner and
(ii) the amount of such obligations to the extent that there is recourse, by
contract or operation of law, to the property or assets of such Person or a
Subsidiary of such Person; or
	 
	 	(b)	 	if less than the amount determined pursuant to clause (a)
immediately above, the actual amount of such Indebtedness that is recourse to
such Person or a Subsidiary of such Person, if the Indebtedness is evidenced by
a writing and is for a determinable amount.





     “Indenture” means this Indenture as amended or supplemented from time to time by one
or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof,
including, for all purposes of this instrument and any such supplemental indenture, the provisions
of the Trust Indenture Act that are deemed to be a part of and govern this instrument and any such
supplemental indenture, respectively. The term “Indenture” shall also include the terms of any
particular series of Securities and of any Securities Guarantees thereof established as
contemplated by Section 2.1.



     “Initial Guarantor” or “Initial Guarantors” means [                                                 
           ].



     “Interest Payment Date,” when used with respect to any Security, shall have the
meaning assigned to that term in the Security as contemplated by Section 2.1.



     “Issue Date” means, with respect to Securities of a series, the first date on which
the Securities of such series are originally issued under this Indenture.



     “Junior security” of a Person means, when used with respect to the Securities of any
series, any Capital Stock (other than Disqualified Stock) of that Person or any Indebtedness of
that Person that is subordinated in right of payment to Senior Debt of the Company to substantially
the same extent as, or to a greater extent than, the Securities of that series and has no scheduled
installment of principal due, by redemption, sinking fund payment or otherwise, on or prior to the
last Stated Maturity of the Securities of that series.



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



8









 





     “Non-U.S. Person” means a person who is not a U.S. person, as defined in Regulation S.



     “Obligations” means any principal, interest, penalties, fees, indemnifications,
reimbursements, damages and other liabilities payable under the documentation governing any
indebtedness.



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



     “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.



     “Original Issue Discount Security” means any Security that provides for an amount less
than the principal amount thereof to be due and payable on a declaration of acceleration of the
Maturity thereof pursuant to Section 6.2.



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



     “Production Payments” means, collectively, Dollar-Denominated Production Payments and
Volumetric Production Payments.



     “Prospectus” means the base prospectus dated June ___, 2009 of the Company or any like
base prospectus relating to Securities to be issued hereunder of the Company prepared from time to
time hereafter and filed with the SEC pursuant to Rule 424(b) under the Securities Act.



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



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



     “Responsible Officer” means any officer within the corporate trust department of any
Trustee or any Paying Agent having direct responsibility for the administration of this Indenture
or any other officer to whom any corporate trust matter is referred because of such person’s
knowledge of and familiarity with the particular subject and who shall have direct responsibility
for the administration of this Indenture.



     “SEC” means the Securities and Exchange Commission.



     “Securities” has the meaning ascribed to it in the second introductory paragraph of
this Indenture.



9









 





     “Securities Act” means the Securities Act of 1933, as amended.



     “Securities Guarantee” means the Guarantee by each Guarantor of the Company’s
Obligations under this Indenture and any series of Securities, executed pursuant to the provisions
of this Indenture.



     “Securities Register” means the register of Securities, maintained by the Registrar,
pursuant to Section 2.3.



     “Security Custodian” means, with respect to Securities of a series issued in global
form, the Trustee for Securities of that series, as custodian with respect to the Securities of
that series, or any successor entity thereto.



     “Senior Debt” means, unless otherwise provided with respect to the Securities of a
series as contemplated by Section 2.1:




	 	(1)	 	all Indebtedness of the Company or any of its Subsidiaries outstanding under
Credit Facilities and all Hedging Obligations with respect thereto;
	 
	 	(2)	 	any other Indebtedness of the Company or any of its Subsidiaries permitted to
be incurred under the terms of this Indenture, unless the instrument under which such
Indebtedness is incurred expressly provides that it is subordinated in right of payment
to the Securities or any Security Guarantee; and
	 
	 	(3)	 	all Obligations with respect to the items listed in the preceding clauses (1)
and (2).
	 
	 	 	 	Notwithstanding anything to the contrary in the preceding sentence, Senior Debt will
not include:






	 	(a)	 	any intercompany Indebtedness of the Company or any of its
Subsidiaries to the Company or any of its Affiliates; or
	 
	 	(b)	 	any Indebtedness that is incurred in violation of this
Indenture.





     For the avoidance of doubt, “Senior Debt” will not include any trade payables or taxes owed or
owing by the Company or any Subsidiary.



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



     “Stated Maturity” means, with respect to any installment of interest or principal on
any series of indebtedness, the date on which the payment of interest or principal was scheduled to
be paid in the documentation governing such indebtedness as of the date of this Indenture, and will
not include any contingent obligations to repay, redeem or repurchase any such interest or
principal prior to the date originally scheduled for the payment thereof.



     “Subsidiary” means, with respect to any specified Person:



10









 






	 	(1)	 	any corporation, association or other business entity of which more than 50% of
the total voting power of shares of Capital Stock entitled (without regard to the
occurrence of any contingency and after giving effect to any voting agreement or
stockholders’ agreement that effectively transfers voting power) to vote in the
election of directors, managers or trustees of the corporation, association or other
business entity is at the time owned or controlled, directly or indirectly, by that
Person or one or more of the other Subsidiaries of that Person (or a combination
thereof); and
	 
	 	(2)	 	any partnership (a) the sole general partner or the managing general partner of
which is such Person or a Subsidiary of such Person or (b) the only general partners of
which are that Person or one or more Subsidiaries of that Person (or any combination
thereof).





     “TIA” or “Trust Indenture Act” means the Trust Indenture Act of 1939 (15
U.S.C. §§ 77aaa 77bbbb), as in effect on the Issue Date.



     “Trust Officer” shall mean, when used with respect to the Trustee, any officer within
the corporate trust department of the Trustee, including any vice president, assistant vice
president, assistant secretary, assistant treasurer, trust officer or any other officer of the
Trustee who customarily performs functions similar to those performed by the Persons who at the
time shall be such officers, respectively, or to whom any corporate trust matter is referred
because of such person’s knowledge of and familiarity with the particular subject and who shall
have direct responsibility for the administration of this Indenture.



     “Trustee” means the Person named as such above until a successor replaces it in
accordance with the applicable provisions of this Indenture, and thereafter “Trustee” means each
Person who is then a Trustee hereunder, and if at any time there is more than one such Person,
“Trustee” as used with respect to the Securities of any series means the Trustee with respect to
Securities of that series.



     “Volumetric Production Payments” means production payment obligations recorded as
deferred revenue in accordance with GAAP, together with all related undertakings and obligations.



     “Voting Stock” of any specified Person as of any date means the Capital Stock of such
Person that is at the time entitled to vote in the election of the Board of Directors of such
Person.



     Section 1.2. Other Definitions.



	 	 	 
	 	 	Defined in
	Term	 	Section
	 
	“Agent Members”
	 	2.16
	“Certificate of Destruction”
	 	2.11






11









 






	 	 	 
	 	 	Defined in
	Term	 	Section
	“Corporate Trust Office”
	 	3.3
	“Covenant Defeasance”
	 	8.3
	“Defaulted Interest”
	 	2.12
	“Event of Default”
	 	6.1
	“Exchange Rate”
	 	2.18
	“Funding Guarantor”
	 	11.5
	“Legal Defeasance”
	 	8.2
	“Notation of Guarantee”
	 	11.2
	“Paying Agent”
	 	2.5
	“Payment Blocking Notice”
	 	10.02
	“Payment Default”
	 	10.02
	“protected purchaser”
	 	2.9
	“Registrar”
	 	2.5
	“Special Interest Payment Date”
	 	2.12(a)
	“Special Record Date”
	 	2.12(a)
	“Successor Company”
	 	4.1






     Section 1.3. Incorporation by Reference of Trust Indenture Act. This Indenture is subject to the mandatory provisions of the TIA which are incorporated by
reference in and made a part of this Indenture. The following TIA terms have the following
meanings:



     “Commission” means the SEC.



     “indenture securities” means the Securities.



     “indenture security holder” means a Holder of a Security.



     “indenture to be qualified” means this Indenture.



     “indenture trustee” or “institutional trustee” means the Trustee.




12












 





     “obligor” on any series of Securities means the Company, the Guarantors and any other obligor
on such series of Securities.



     All other TIA terms used in this Indenture that are defined by the TIA, defined in the TIA by
reference to another statute or defined by SEC’s rule have the meanings assigned to them by such
definitions.



     Section 1.4. Rules of Construction. Unless the context otherwise requires:




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




     (2) an accounting term not otherwise defined has the meaning assigned to it in
accordance with GAAP;




     (3) “or” is not exclusive;




     (4) “including” means including without limitation;




     (5) words in the singular include the plural and words in the plural include
the singular;




     (6) the principal amount of any noninterest bearing or other discount security
at any date shall be the principal amount thereof that would be shown on a balance
sheet of the Company dated such date prepared in accordance with GAAP; and




     (7) provisions apply to successive events and transactions.



ARTICLE II




The Securities




     Section 2.1. Form, Dating and Terms.




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




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




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




     (2) if there is to be a limit, the limit upon the aggregate principal amount of
the Securities of the series that may be authenticated and delivered
under this Indenture (except for Securities authenticated and delivered upon



13









 







registration of transfer of, or in exchange for, or in lieu of, other Securities of
the series pursuant to Section 2.8, 2.9, 2.13, 2.16, 5.7 or 9.5 and except
for any Securities that, pursuant to Section 2.4 or 2.16, are deemed never
to have been authenticated and delivered hereunder); provided, however, that unless
otherwise provided in the terms of the series, the authorized aggregate principal
amount of such series may be increased before or after the issuance of any
Securities of the series by a Board Resolution (or action pursuant to a Board
Resolution) to such effect;




     (3) whether any Securities of the series are to be issuable initially in
temporary global form and whether any Securities of the series are to be issuable in
permanent global form, as Global Securities or otherwise, and, if so, whether
beneficial owners of interests in any such Global Security may exchange such
interests for Securities of such series and of like tenor of any authorized form and
denomination and the circumstances under which any such exchanges may occur, if
other than in the manner provided in Section 2.16, and the initial
Depositary and Security Custodian, if any, for any Global Security or Securities of
such series;




     (4) the manner in which any interest payable on a temporary Global Security on
any Interest Payment Date will be paid if other than in the manner provided in
Section 2.12;




     (5) the date or dates on which the principal of and premium (if any) on the
Securities of the series is payable or the method of determination thereof;




     (6) the rate or rates, or the method of determination thereof, at which the
Securities of the series shall bear interest, if any, whether and under what
circumstances Additional Amounts with respect to such Securities shall be payable,
the date or dates from which such interest shall accrue, the Interest Payment Dates
on which such interest shall be payable and the record date for the interest payable
on any Securities on any Interest Payment Date, or if other than provided herein,
the Person to whom any interest on Securities of the series shall be payable;




     (7) the place or places where, subject to the provisions of Section
3.4, the principal of, premium (if any) and interest on and any Additional
Amounts with respect to the Securities of the series shall be payable;




     (8) the period or periods within which, the price or prices (whether
denominated in cash, securities or otherwise) at which and the terms and conditions
upon which Securities of the series may be redeemed, in whole or in part, at the
option of the Company, if the Company is to have that option, and the manner in
which the Company must exercise any such option, if different from those set forth
herein;



14









 






     (9) whether Securities of the series are entitled to the benefits of any
Securities Guarantee of any Guarantor pursuant to this Indenture, the identity of
any such Guarantors, whether Notations of such Securities Guarantees are to be
included on such Securities and any terms of such Securities Guarantee with respect
to the Securities of the series in addition to those set forth in Article
XI, or any exceptions to or changes to those set forth in Article XI;




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




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




     (12) if other than Dollars, the currency or currencies (including composite
currencies) or the form, including equity securities, other debt securities
(including Securities), warrants or any other securities or property of the Company,
any Guarantor or any other Person, in which payment of the principal of, premium (if
any) and interest on and any Additional Amounts with respect to the Securities of
the series shall be payable;




     (13) if the principal of, premium (if any) or interest on or any Additional
Amounts with respect to the Securities of the series are to be payable, at the
election of the Company or a Holder thereof, in a currency or currencies (including
composite currencies) other than that in which the Securities are stated to be
payable, the currency or currencies (including composite currencies) in which
payment of the principal of, premium (if any) and interest on and any Additional
Amounts with respect to Securities of such series as to which such election is made
shall be payable, and the periods within which and the terms and conditions upon
which such election is to be made;




     (14) if the amount of payments of principal of, premium (if any) and interest
on and any Additional Amounts with respect to the Securities of the series may be
determined with reference to any commodities, currencies or indices, values, rates
or prices or any other index or formula, the manner in which such amounts shall be
determined;




     (15) if other than the entire principal amount thereof, the portion of the
principal amount of Securities of the series that shall be payable upon declaration
of acceleration of the Maturity thereof pursuant to Section 6.2;




     (16) any additional means of satisfaction and discharge of this Indenture and
any additional conditions or limitations to discharge with respect to Securities of
the series and the related Securities Guarantees, if any, pursuant to



15









 







Article VIII or any modifications of or deletions from such conditions
or limitations;




     (17) any deletions or modifications of or additions to the Events of Default
set forth in Section 6.1 or covenants of the Company or any Guarantor set
forth in Article III pertaining to the Securities of the series;




     (18) any restrictions or other provisions with respect to the transfer or
exchange of Securities of the series, which may amend, supplement, modify or
supersede those contained in this Article II;




     (19) if the Securities of the series are to be convertible into or exchangeable
for capital stock, other debt securities (including Securities), warrants, other
equity securities or any other securities or property of the Company, any Guarantor
or any other Person, at the option of the Company or the Holder or upon the
occurrence of any condition or event, the terms and conditions for such conversion
or exchange;




     (20) if applicable, that the Securities of the series, in whole or any
specified part, shall not be defeasible pursuant to Section 8.2 or
Section 8.3 or both such Sections, and, if such Securities may be defeased,
in whole or in part, pursuant to either or both such Sections, any provisions to
permit a pledge of obligations other than Government Securities (or the
establishment of other arrangements) to satisfy the requirements of Section
8.4(1) for defeasance of such Securities and, if other than by a Board
Resolution of the Company, the manner in which any election by the Company to
defease such Securities shall be evidenced;




     (21) whether the Securities of the series are to be entitled to the benefit of
the last paragraph of Section 3.2;




     (22) any modifications to, or qualifications contemplated by, the definition of
“Designated Senior Debt,” any modifications to the definition of “Senior Debt” of
the Company or any modifications to Article X or the other provisions
regarding subordination with respect to the Securities of that series; and




     (23) any other terms of the series (which terms shall not be prohibited by the
provisions of this Indenture).



     All Securities of any one series shall be substantially identical except as to denomination
and except as may otherwise be provided in or pursuant to the Board Resolution referred to above
and (subject to Section 2.3) set forth, or determined in the manner provided, in the
Officers’ Certificate or Company Order referred to above or in any such indenture supplemental
hereto.



     If any of the terms of the series are established by action taken pursuant to a Board
Resolution, a copy of an appropriate record of such action, together with such Board Resolution,
shall be set forth in an Officers’ Certificate or certified by the Secretary or an Assistant
Secretary



16









 







of the Company and delivered to the Trustee at or prior to the delivery of the Officers’
Certificate or Company Order setting forth the terms of the series.



     The Securities shall be subordinated in right of payment to Senior Debt of the Company as
provided in Article X and/or as specified as contemplated pursuant to this Section
2.1.



     Section 2.2. Denominations. The Securities of each series shall be issuable in such denominations as
shall be specified as contemplated by Section 2.1. In the absence of any such provisions
with respect to the Securities of any series, the Securities of such series denominated in Dollars
shall be issuable in denominations of $1,000 and any integral multiples thereof.



     Section 2.3. Forms Generally. The Securities of each series shall be in fully registered form and in
substantially such form or forms (including temporary or permanent global form) established by or
pursuant to a Board Resolution or in one or more indentures supplemental hereto. The Securities
may have notations, legends or endorsements required by law, securities exchange rule, the
Company’s certificate of incorporation, bylaws or other similar governing documents, agreements to
which the Company is subject, if any, or usage (provided that any such notation, legend or
endorsement is in a form acceptable to the Company). A copy of the Board Resolution establishing
the form or forms of Securities of any series shall be delivered to the Trustee at or prior to the
delivery of the Company Order contemplated by Section 2.4 for the authentication and
delivery of such Securities.



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



     The Trustee’s certificate of authentication shall be in substantially the following form:



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



	 	 	 	 	 
	 	[                    ], as Trustee

 	 
	 	By:  	
 	 
	 	 	Authorized Officer” 	 
	 	 	 	 
	 




     Section 2.4. Execution, Authentication, Delivery and Dating. Two Officers of the Company shall sign the
Securities on behalf of the Company and, with respect to any related
Securities Guarantees,
Notations of Guarantee as to which are to be endorsed on such Securities, an Officer of each
Guarantor shall sign the Notation of Guarantee on behalf of such Guarantor, in each case by manual
or facsimile signature.



     If an Officer of the Company or a Guarantor whose signature is on a Security no longer holds
that office at the time the Security or the Notation of Guarantee, as the case may be, is
authenticated, the Security or Notation of Guarantee shall be valid nevertheless.



     A Security shall not be entitled to any benefit under this Indenture or the related Securities
Guarantees or be valid or obligatory for any purpose until authenticated by the manual



17









 







signature of
an authorized signatory of the Trustee, which signature shall be conclusive evidence that the
Security has been authenticated under this Indenture. Notwithstanding the foregoing, if any
Security has been authenticated and delivered hereunder but never issued and sold by the Company,
and the Company delivers such Security to the Trustee for cancellation as provided in Section
2.11, together with a written statement (which need not comply with Section 13.5 and
need not be accompanied by an Opinion of Counsel) stating that such Security has never been issued
and sold by the Company, for all purposes of this Indenture such Security shall be deemed never to
have been authenticated and delivered hereunder and shall never be entitled to the benefits of this
Indenture or the related Securities Guarantees.



     At any time and from time to time after the execution and delivery of this Indenture, the
Company may deliver Securities of any series executed by the Company (and, if applicable, the
Notation of Guarantee for such series executed by each Guarantor with respect to such series) to
the Trustee for authentication, and the Trustee shall authenticate and deliver such Securities for
original issue upon a Company Order for the authentication and delivery of such Securities or
pursuant to such procedures acceptable to the Trustee as may be specified from time to time by
Company Order. Such order shall specify the amount of the Securities to be authenticated, the date
on which the original issue of Securities is to be authenticated, the name or names of the initial
Holder or Holders and any other terms of the Securities of such series not otherwise determined. If
provided for in such procedures, such Company Order may authorize (1) authentication and delivery
of Securities of such series for original issue from time to time, with certain terms (including,
without limitation, the Maturity dates or dates, original issue date or dates and interest rate or
rates) that differ from Security to Security and (2) may authorize authentication and delivery
pursuant to oral or electronic instructions from the Company or its duly authorized agent, which
instructions shall be promptly confirmed in writing.



     If the form or terms of the Securities of the series have been established in or pursuant to
one or more Board Resolutions as permitted by Section 2.1, in authenticating such
Securities, and accepting the additional responsibilities under this Indenture in relation to such
Securities, the Trustee shall be entitled to receive (in addition to the Company Order referred to
above and the other documents required by Section 13.4), and (subject to Section
7.1) shall be fully protected in relying upon:



     (a) an Officers’ Certificate of the Company setting forth the Board Resolution and, if
applicable, an appropriate record of any action taken pursuant thereto, as contemplated by the last
paragraph of Section 2.1; and



     (b) an Opinion of Counsel to the effect that:



          (i) the form of such Securities has been established in conformity with the provisions of this
Indenture;




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




          (iii) that such Securities and the related Securities Guarantees, if any, when authenticated
and delivered by the Trustee and issued by the Company in the manner and subject



18









 






to any conditions
specified in such Opinion of Counsel, will constitute valid and binding obligations of the Company
and the Guarantors, respectively, enforceable against the Company and the Guarantors, respectively,
in accordance with their respective terms, except as the enforceability thereof may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or transfer or
other similar laws in effect from time to time affecting the rights of creditors generally, and the
application of general principles of equity (regardless of whether such enforceability is
considered in a proceeding in equity or at law).




     If all the Securities of any series are not to be issued at one time, it shall not be
necessary to deliver an Officers’ Certificate and Opinion of Counsel at the time of issuance of
each such Security, but such Officers’ Certificate and Opinion of Counsel shall be delivered at or
before the time of issuance of the first Security of the series to be issued.



     The Trustee shall not be required to authenticate such Securities if the issuance of such
Securities pursuant to this Indenture would affect the Trustee’s own rights, duties or immunities
under the Securities and this Indenture or otherwise in a manner not reasonably acceptable to the
Trustee.



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



     Each Security shall be dated the date of its authentication.



     Section 2.5. Registrar and Paying Agent. The Company shall maintain an office or agency for each series
of Securities where Securities of such series may be presented for registration of transfer or for
exchange (the “Registrar”) and an office or agency where Securities of such series may be
presented for payment (the “Paying Agent”). The Company shall cause each of the Registrar
and the Paying Agent to maintain an office or agency in the United States of America. The
Registrar shall keep a register of the Securities and of their transfer and exchange (the
“Securities 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.



     The Company shall enter into an appropriate agency agreement with any Registrar, Paying Agent
or co-registrar not a party to this Indenture, which shall incorporate the terms of the TIA. 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 7.7. The Company or
any of its Subsidiaries may act as Paying Agent, Registrar, co-registrar or transfer agent.



     The Company initially appoints the Trustee as Registrar and Paying Agent for the Securities.



19









 





     Section 2.6. Paying Agent to Hold Money in Trust. By no later than 11:00 a.m. (New York City time) on
the date on which any amount or Additional Amounts, if any, in respect of any Security is due and
payable, the Company shall deposit with the Paying Agent a sum sufficient in immediately available
funds to pay such amount or Additional Amounts, if any, when due. 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 the applicable Holders or the Trustee all money held by such Paying Agent
for the payment of such amount and Additional Amounts, if any, on the applicable Securities and
shall notify the Trustee in writing of any default by the Company or any Guarantor in making any
such payment. If the Company or a Subsidiary 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 disbursed by such Paying Agent. Upon complying with this Section
2.6, the Paying Agent (if other than the Company or a Subsidiary) 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 Securities.



     Section 2.7. 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. If the Trustee is not
the Registrar with respect to a series of Securities, or to the extent otherwise required under the
TIA, the Company shall furnish to the Trustee, in writing at least five Business Days before each
interest payment date with respect to such series of Securities 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 such series.



     Section 2.8. Transfer and Exchange.



     Except as set forth in Section 2.16 or as may be provided pursuant to Section
2.1, when Securities of any series are presented to the Registrar with the request to register
the transfer of those Securities or to exchange those Securities for an equal principal amount of
Securities of the same series of like tenor and of other authorized denominations, the Registrar
shall register the transfer or make the exchange as requested if its requirements and the
requirements of this Indenture for those transactions are met; provided, however, that the
Securities presented or surrendered for registration of transfer or exchange shall be duly endorsed
or accompanied by a written instruction of transfer in form reasonably satisfactory to the
Registrar duly executed by the Holder thereof or by his attorney, duly authorized in writing, on
which instruction the Registrar can rely.



     To permit registrations of transfers and exchanges, the Company shall execute Securities (and,
if applicable, each Guarantor with respect to such series shall execute the Notation of Guarantee
for such series) and the Trustee shall authenticate such Securities at the Registrar’s written
request and submission of the Securities (other than Global Securities). No service charge shall
be made to a Holder for any registration of transfer or exchange (except as otherwise expressly
permitted herein), but the Company may require payment of a sum sufficient to cover any transfer
tax or similar governmental charge payable in connection therewith (other than such transfer tax or
similar governmental charge payable on exchanges pursuant to Section 2.13, 5.7 or 9.5).
The Trustee shall authenticate Securities in accordance with the provisions of Section



20









 







2.4.
Notwithstanding any other provisions of this Indenture to the contrary, the Company shall not be
required to register the transfer or exchange of (a) any Security selected for redemption in whole
or in part pursuant to Article III, except the unredeemed portion of any Security being
redeemed in part or (b) any Security during the period beginning 15 Business Days before the
mailing of notice of any offer to repurchase Securities of the series required pursuant to the
terms thereof or of redemption of Securities of a series to be redeemed and ending at the close of
business on the date of mailing.



     Section 2.9. Mutilated, Destroyed, Lost or Wrongfully Taken Securities. If a mutilated Security is
surrendered to the Registrar or if the Holder of a Security claims that the Security has been lost,
destroyed or wrongfully taken, the Company shall issue and the Trustee shall authenticate a
replacement Security with respect to such series if the requirements of Section 8-405 of the
Uniform Commercial Code are met, such that the Holder (a) satisfies the Company or the Trustee
within a reasonable time after such Holder has notice of such loss, destruction or wrongful taking
and the Registrar does not register a transfer prior to receiving such notification, (b) makes such
request to the Company or Trustee prior to the Security being acquired by a protected purchaser as
defined in Section 8-303 of the Uniform Commercial Code (a “protected purchaser”) and (c)
satisfies any other reasonable requirements of the Trustee. If required by the Trustee or the
Company, such Holder shall furnish an indemnity bond sufficient in the judgment of the Company and
the Trustee to protect the Company, the Trustee, the Paying Agent, the Registrar and any
co-registrar from any loss which any of them may suffer if a Security is replaced, and, in the
absence of notice to the Company or the Trustee that such Security has been acquired by a protected
purchaser, the Company shall execute and, upon a Company Order, the Trustee shall authenticate and
make available for delivery, in exchange for any such mutilated Security or in lieu of any such
destroyed, lost or wrongfully taken Security, a new Security of like tenor and principal amount,
bearing a number not contemporaneously outstanding.



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



     Upon the issuance of any new Security under this Section 2.9, the Company may require
the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed
in relation thereto and any other expenses (including the fees and expenses of the Trustee) in
connection therewith.



     Every new Security issued pursuant to this Section in lieu of any mutilated, destroyed, lost
or wrongfully taken Security shall constitute an original additional contractual obligation of the
Company, any Guarantor (if applicable) and any other obligor upon the Securities of such series,
whether or not the mutilated, destroyed, lost or wrongfully taken Security shall be at any time
enforceable by anyone, and shall be entitled to all benefits of this Indenture equally and
proportionately with any and all other Securities of such series duly issued hereunder.



     The provisions of this Section 2.9 are exclusive and shall preclude (to the extent
lawful) all other rights and remedies with respect to the replacement or payment of mutilated,
destroyed, lost or wrongfully taken Securities.



21









 





     Section 2.10. Outstanding Securities. Securities outstanding at any time are all Securities
authenticated by the Trustee except for those canceled by it, those delivered to it for
cancellation and those described in this Section 2.10 as not outstanding. A Security
ceases to be outstanding in the event the Company or a Subsidiary of the Company holds the
Security, provided, however, that (i) for purposes of determining which are outstanding for consent
or voting purposes hereunder, the provisions of Section 13.6 shall apply and (ii) in
determining whether the Trustee shall be protected in making a determination whether the Holders of
the requisite principal amount of outstanding Securities are present at a meeting of Holders of
Securities for quorum purposes or have consented to or voted in favor of any request, demand,
authorization, direction, notice, consent, waiver, amendment or modification hereunder, or relying
upon any such quorum, consent or vote, only Securities which a Trust Officer of the Trustee
actually knows to be held by the Company or an Affiliate of the Company shall not be considered
outstanding.



     If a Security is replaced pursuant to Section 2.9, it ceases to be outstanding unless
the Trustee and the Company receive proof satisfactory to them that the replaced Security is held
by a protected purchaser.



     If the Paying Agent segregates and holds in trust, in accordance with this Indenture, on a
Redemption Date or maturity date money sufficient to pay all amounts and Additional Amounts, if
any, payable on that date with respect to the Securities (or portions thereof) to be redeemed or
maturing, as the case may be, and the Paying Agent is not prohibited from paying such money to the
Holders on that date pursuant to the terms of this Indenture, then on and after that date such
Securities (or portions thereof) cease to be outstanding and interest on them ceases to accrue.



     Section 2.11. Cancellation. The Company at any time may deliver Securities to the Trustee for
cancellation. The Registrar and the Paying Agent shall forward to the Trustee any Securities
surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else
shall cancel all Securities surrendered for registration of transfer, exchange, payment or
cancellation and destroy such Securities in accordance with its internal policies, including
delivery of a certificate (a “Certificate of Destruction”) describing such Securities
disposed (subject to the record retention requirements of the Exchange Act). The Company may not
issue new Securities to replace
Securities it has paid or delivered to the Trustee for cancellation for any reason other than in
connection with a transfer or exchange.



     Section 2.12. Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by
Section 2.1 with respect to the Securities of any series, interest and Additional Amounts,
if any, on any Security of such series which is payable, and is punctually paid or duly provided
for, on any interest payment date shall be paid to the Person in whose name such Security (or one
or more predecessor Securities) is registered at the close of business on the regular record date
for such interest at the office or agency of the Company maintained for such purpose pursuant to
Section 2.8.



     Unless otherwise provided as contemplated by Section 2.1 with respect to the
Securities of any series, any interest and Additional Amounts, if any, on any Security of such
series which is payable, but is not paid when the same becomes due and payable and such nonpayment
continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular



22









 







record date, and such defaulted interest and (to the extent lawful) interest on such defaulted
interest at the rate provided for in the Securities therefor (such defaulted interest and interest
thereon herein collectively called “Defaulted Interest”) shall be paid by the Company, at
its election in each case, as provided in clause (a) or (b) below:




     (a) The Company may elect to make payment of any Defaulted Interest to the Persons in
whose names the Securities (or their respective predecessor Securities) are registered at
the close of business on a Special Record Date (as defined below) for the payment of such
Defaulted Interest, which shall be fixed in the following manner. The Company shall notify
the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each
Security and the date (not less than 30 days after such notice) of the proposed payment (the
“Special Interest Payment Date”), and at the same time the Company shall deposit
with the Trustee an amount of money equal to the aggregate amount proposed to be paid in
respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee
for such deposit prior to the date of the proposed payment, such money when deposited to be
held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this
clause provided. Thereupon the Trustee shall fix a record date (the “Special Record
Date”) for the payment of such Defaulted Interest, which date shall be not more than 15
days and not less than 10 days prior to the Special Interest Payment Date and not less than
10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee
shall promptly notify the Company of such Special Record Date, and in the name and at the
expense of the Company, shall cause notice of the proposed payment of such Defaulted
Interest and the Special Record Date and Special Interest Payment Date therefor to be given
in the manner provided for in Section 12.2, not less than 10 days prior to such
Special Record Date. Notice of the proposed payment of such Defaulted Interest and the
Special Record Date and Special Interest Payment Date therefor having been so given, such
Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in
whose names the Securities (or their respective predecessor Securities) are registered at
the close of business on such Special Record Date and shall no longer be payable pursuant to
the following clause (b).




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



     Subject to the foregoing provisions of this Section 2.12, each Security delivered
under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other
Security shall carry the rights to interest and Additional Amounts, if any, each as accrued and
unpaid, and to accrue, which were carried by such other Security.



     Section 2.13. Temporary Securities. Until definitive Securities of any series are ready for delivery,
the Company may prepare and the Trustee shall authenticate temporary Securities of such series.
Temporary Securities shall be substantially in the form of definitive Securities, but may have
variations that the Company considers appropriate for temporary Securities. Without



23









 







unreasonable
delay, the Company shall prepare and the Trustee shall authenticate definitive Securities in
exchange for temporary Securities. Until so exchanged, the temporary Securities shall in all
respects be entitled to the same benefits under this Indenture as definitive Securities.



     Section 2.14. Persons Deemed Owners. The Company, the Guarantors, the Trustee, any Agent and any
authenticating agent may treat the Person in whose name any Security is registered as the owner of
that Security for the purpose of receiving payments of principal of, premium (if any) or interest
on, or any Additional Amounts with respect to, that Security and for all other purposes. None of
the Company, the Trustee, any Agent or any authenticating agent shall be affected by any notice to
the contrary.



     Section 2.15. Computation of Interest. Except as otherwise provided as contemplated by Section
2.1 with respect to the Securities of any series, interest on the Securities shall be computed
on the basis of a 360-day year of twelve 30-day months.



     Section 2.16. Global Securities; Book-Entry Provisions. If Securities of a series are issuable in global
form as a Global Security, as contemplated by Section 2.1, then, notwithstanding clause
(11) of Section 2.1 and the provisions of Section 2.2, any such Global Security
shall represent those of the outstanding Securities of that series as shall be specified therein
and may provide that it shall represent the aggregate amount of outstanding Securities of that
series from time to time endorsed thereon and that the aggregate amount of outstanding Securities
of that series represented thereby may from time to time be reduced or increased, as appropriate,
to reflect exchanges, transfers or redemptions. Any endorsement of a Global Security to reflect
the amount, or any increase or decrease in the amount, of outstanding Securities of that series
represented thereby shall be made by the Trustee (i) in such manner and upon instructions given by
such Person or Persons as shall be specified in that Security or in a
Company Order to be delivered to the Trustee pursuant to Section 2.4 or (ii) otherwise in
accordance with written instructions or such other written form of instructions as is customary for
the Depositary for that Security, from that Depositary or its nominee on behalf of any Person
having a beneficial interest in that Global Security. Subject to the provisions of Section
2.4 and, if applicable, Section 2.13, the Trustee shall deliver and redeliver any
Security in permanent global form in the manner and upon instructions given by the Person or
Persons specified in that Security or in the applicable Company Order. With respect to the
Securities of any series that are represented by a Global Security, the Company and the Guarantors
authorize the execution and delivery by the Trustee of a letter of representations or other similar
agreement or instrument in the form customarily provided for by the Depositary appointed with
respect to that Global Security. Any Global Security may be deposited with the Depositary or its
nominee, or may remain in the custody of the Trustee or the Security Custodian therefor pursuant to
a FAST Balance Certificate Agreement or similar agreement between the Trustee and the Depositary.
If a Company Order has been, or simultaneously is, delivered, any instructions by the Company with
respect to endorsement or delivery or redelivery of a Security in global form shall be in writing
but need not comply with Section 13.5 and need not be accompanied by an Opinion of Counsel.



24









 





     Members of, or participants in, the Depositary (“Agent Members”) shall have no rights
under this Indenture with respect to any Global Security held on their behalf by the Depositary, or
the Trustee or the Security Custodian as its custodian, or under that Global Security, and the
Depositary may be treated by the Company, any Guarantor, the Trustee or the Security Custodian and
any agent of the Company, any Guarantor, the Trustee or the Security Custodian as the absolute
owner of that Global Security for all purposes whatsoever. Notwithstanding the foregoing, (i) the
registered holder of a Global Security of any series may grant proxies and otherwise authorize any
Person, including Agent Members and Persons that may hold interests through Agent Members, to take
any action that a Holder of Securities of that series is entitled to take under this Indenture or
the Securities of that series and (ii) nothing herein shall prevent the Company, any Guarantor, the
Trustee or the Security Custodian or any agent of the Company, any Guarantor, the Trustee, or the
Security Custodian from giving effect to any written certification, proxy or other authorization
furnished by the Depositary or shall impair, as between the Depositary and its Agent Members, the
operation of customary practices governing the exercise of the rights of a beneficial owner of any
Security.



     Notwithstanding Section 2.8, and except as otherwise provided pursuant to Section
2.1, transfers of a Global Security shall be limited to transfers of that Global Security in
whole, but not in part, to the Depositary, its successors or their respective nominees. Interests
of beneficial owners in a Global Security may be transferred in accordance with the rules and
procedures of the Depositary. Securities of any series shall be transferred to all beneficial
owners of a Global Security of that series in exchange for their beneficial interests in that
Global Security if, and only if, either (1) the Depositary notifies the Company that it is
unwilling or unable to continue as depositary for such Global Security or the Depositary ceases to
be a clearing agency registered under the Exchange Act, at a time when the Depositary is required
to be so registered in order to act as depositary, and, in either case, a successor depositary is
not appointed by the Company within 90 days of such notice, (2) the Company, at its option,
notifies the Trustee in writing that it elects to cause the issuance of definitive Securities or
(3) a Default or Event of Default has occurred and is continuing with respect to the Securities.



     In connection with any transfer of a portion of the beneficial interests in a Global Security
to beneficial owners pursuant to this Section 2.16, the Registrar shall reflect on its
books and records the date and a decrease in the principal amount of the Global Security in an
amount equal to the principal amount of the beneficial interest in the Global Security to be
transferred, and the Company shall execute, and, if applicable, each Guarantor with respect to such
series shall execute the Notation of Guarantee relating to such Global Security, if any, and the
Trustee on receipt of a Company Order for the authentication and delivery of Securities shall
authenticate and deliver, one or more Securities of the same series of like tenor and amount.



     In connection with the transfer of all the beneficial interests in a Global Security of any
series to beneficial owners pursuant to this Section 2.16, the Global Security shall be
deemed to be surrendered to the Trustee for cancellation, and the Company shall execute, and the
Trustee shall authenticate and deliver, to each beneficial owner identified by the Depositary in
exchange for its beneficial interest in the Global Security, an equal aggregate principal amount of
Securities of that series of authorized denominations.



25









 





     Neither the Company, any Guarantor nor the Trustee will have any responsibility or liability
for any aspect of the records relating to, or payments made on account of, Securities by the
Depositary, or for maintaining, supervising or reviewing any records of the Depositary relating to
those Securities. Neither the Company, any Guarantor or the Trustee shall be liable for any delay
by the related Global Security Holder or the Depositary in identifying the beneficial owners, and
each such Person may conclusively rely on, and shall be protected in relying on, instructions from
that Global Security Holder or the Depositary for all purposes (including with respect to the
registration and delivery, and the respective principal amounts, of the Securities to be issued).



     The provisions of the last sentence of the third paragraph of Section 2.4 shall apply
to any Global Security if that Global Security was never issued and sold by the Company and the
Company or a Guarantor delivers to the Trustee the Global Security together with written
instructions (which need not comply with Section 13.5 and need not be accompanied by an
Opinion of Counsel) with regard to the cancellation or reduction in the principal amount of
Securities represented thereby, together with the written statement contemplated by the last
sentence of the third paragraph of Section 2.4.



     Notwithstanding the provisions of Sections 2.3 and 2.12, unless otherwise specified as
contemplated by Section 2.1 with respect to Securities of any series, payment of principal
of and premium (if any) and interest on and any Additional Amounts with respect to any Global
Security shall be made to the Person or Persons specified therein.



     Section 2.17. CUSIP Numbers, Etc. The Company in issuing the Securities of any series may use CUSIP
numbers (if then generally in use) and, if so, the Trustee shall use CUSIP, ISIN and Common Code
numbers in notices of redemption as a convenience to Holders of Securities of such series;
provided, however, that any such notice may state that no representation is made as to the
correctness of such numbers either as printed on the Securities of such series or as contained in
any notice of a redemption and that reliance may be placed only on the other identification numbers
printed on the Securities of such
series, and any such redemption shall not be affected by any defect in or omission of such numbers.
The Company shall promptly notify the Trustee in writing of any change in the CUSIP, ISIN and
Common Code numbers.



     Section 2.18. Original Issue Discount and Foreign-Currency Denominated Securities. In determining
whether the Holders of the required principal amount of outstanding Securities have concurred in
any direction, amendment, supplement, waiver or consent, unless otherwise provided as contemplated
by Section 2.1 with respect to the Securities of any series, (a) the principal amount of an
Original Issue Discount Security of such series shall be the principal amount thereof that would be
due and payable as of the date of that determination upon acceleration of the Maturity thereof
pursuant to Section 6.2, and (b) the principal amount of a Security of such series
denominated in a foreign currency shall be the Dollar equivalent, as determined by the Company by
reference to the noon buying rate in The City of New York for cable transfers for that currency, as
that rate is certified for customs purposes by the Federal Reserve Bank of New York (the
“Exchange Rate”) on the date of original issuance of that Security, of the principal amount
(or, in the case of an Original Issue Discount Security, the Dollar equivalent, as determined by
the Company by reference to the Exchange Rate on the date



26









 







of original issuance of that Security, of
the amount determined as provided in (a) above), of that Security.



ARTICLE III




Covenants




     Section 3.1. Payment of Securities. The Company shall promptly pay the principal of, premium, if any,
on, and interest and Additional Amounts, if any, on the Securities on the dates and in the manner
provided in the Securities and in this Indenture. Principal, premium, if any, interest and
Additional Amounts, if any, shall be considered paid on the date due if on such date the Trustee or
the Paying Agent holds in accordance with this Indenture immediately available funds sufficient to
pay all principal, premium and interest and Additional Amounts, if any, then due and the Trustee or
Paying Agent, as the case may be, is not prohibited from paying money to the Holders on that date
pursuant to the terms of this Indenture.



     The Company shall pay interest on overdue principal at the rate specified therefor in the
Securities, and it shall pay interest on overdue installments of interest at the same rate to the
extent lawful.



     Notwithstanding anything to the contrary contained in this Indenture, the Company may, to the
extent it is required to do so by law, deduct or withhold income or other similar taxes imposed by
the United States of America from principal or interest payments hereunder.



     Section 3.2. Reports. Except as otherwise provided as contemplated by Section 2.1 with respect
to the Securities of any series, whether or not required by the rules and regulations of the SEC,
so long as any
Securities of such series are outstanding, the Company will file with the SEC for public
availability within the time periods specified in the SEC’s rules and regulations (unless the SEC
will not accept such a filing, in which case the Company will furnish to the Holders of Securities
of such series or cause the Trustee to furnish to the Holders of Securities of such series, within
the time periods specified in the SEC’s rules and regulation)




     (a) all quarterly and annual reports that would be required to be filed with the SEC on
Forms 10-Q and 10-K if the Company were required to file such reports; and




     (b) all current reports that would be required to be filed with the SEC on Form 8-K if
the Company were required to file such reports.



     All such reports will be prepared in all material respects in accordance with all of the rules
and regulations applicable to such reports. Each annual report on Form 10-K will include a report
on the Company’s consolidated financial statements by the Company’s certified independent
accountants.



     If, at any time, the Company is no longer subject to the periodic reporting requirements of
the Exchange Act for any reason, the Company will nevertheless continue filing the reports
specified in the preceding paragraphs of this covenant with the SEC within the time periods
specified above unless the SEC will not accept such a filing. The Company will not take any action
for the purpose of causing the SEC not to accept any such filings. If, notwithstanding the



27









 







foregoing, the SEC will not accept the Company’s filings for any reason, the Company will post the
reports referred to in the preceding paragraphs on its website within the time periods that would
apply if the Company were required to file those reports with the SEC.



     Except as otherwise provided as contemplated by Section 2.1 with respect to the
Securities of any series, if the Company has designated any of its Subsidiaries as Unrestricted
Subsidiaries, then, to the extent material, the quarterly and annual financial information required
by the preceding paragraphs with respect to Securities of such series will include a reasonably
detailed presentation, either on the face of the financial statements or in the footnotes thereto,
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 of
the Company.



     In addition, with respect to Securities of any series that are entitled to the benefit of this
paragraph as provided as contemplated by Section 2.1(21) with respect to the Securities of
such series, the Company and the Guarantors agree that, for so long as any Securities of such
series remain outstanding, if at any time they are not required to file the reports required by the
preceding paragraphs with the SEC, they will furnish to the holders of Securities and to securities
analysts and prospective investors, upon their request, the information required to be delivered
pursuant to Rule 144A(d)(4) under the Securities Act.



     Section 3.3. Maintenance of Office or Agency. The Company will maintain in the United States of America
an office or agency for any series of Securities where such Securities may be presented or
surrendered for payment, where, if
applicable, the Securities of that series may be surrendered for registration of transfer or
exchange and where notices and demands to or upon the Company in respect of the Securities of that
series and this Indenture may be served. The principal corporate trust office of the Trustee (the
“Corporate Trust Office”) shall be such office or agency of the Company, unless the Company
shall designate and maintain some other office or agency for one or more of such purposes. The
Company will give prompt written notice to the Trustee of any change in the location of any 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,
and the Company hereby appoints the Trustee as its agent to receive all such presentations,
surrenders, notices and demands.



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



     Section 3.4. Corporate Existence. Subject to Article IV, the Company will do or cause to be
done all things necessary to preserve and keep in full force and effect its corporate



28









 







existence.
This Section 3.4 shall not prohibit or restrict the Company from converting into a
different form of legal entity.



     Section 3.5. Compliance Certificate. The Company shall deliver to the Trustee within 120 days after the
end of each fiscal year of the Company an Officers’ Certificate stating that in the course of the
performance by the signers of their duties as Officers of the Company they would normally have
knowledge of any Default or Event of Default and whether or not the signers know of any Default or
Event of Default that occurred during such period. If they do, the certificate shall describe the
Default or Event of Default, its status and what action the Company is taking or proposes to take
with respect thereto. The Company also shall comply with TIA § 314(a)(4).



     Section 3.6. Statement by Officers as to Default. So long as Securities of any series are outstanding,
the Company shall deliver to the Trustee, as soon as possible and in any event within 5 Business
Days after the Company becomes aware of the occurrence of any Event of Default or Default with
respect to that series an Officers’ Certificate setting forth the details of such Event of Default
or Default and the action which the Company is taking or proposes to take in respect thereof.



     Section 3.7.
Additional Amounts.
If the Securities of a series expressly provide for the payment of Additional Amounts, the
Company will pay to the Holder of any Security of that series Additional Amounts as expressly
provided therein. Whenever in this Indenture there is mentioned, in any context, the payment of the
principal of or any premium or interest on, or in respect of, any Security of any series or the net
proceeds received from the sale or exchange of any Security of any series, that mention shall be
deemed to include mention of the payment of Additional Amounts provided for in this Section
3.7 to the extent that, in that context, Additional Amounts are, were or would be payable in
respect thereof pursuant to the provisions of this Section 3.7, and express mention of the
payment of Additional Amounts (if applicable) in any provisions hereof shall not be construed as
excluding Additional Amounts in those provisions hereof where that express mention is not made.



     Unless otherwise provided pursuant to Section 2.1 with respect to Securities of any
series, if the Securities of a series provide for the payment of Additional Amounts, at least ten
days prior to the first Interest Payment Date with respect to that series of Securities (or if the
Securities of that series will not bear interest prior to Maturity, the first day on which a
payment of principal and any premium is made), and at least ten days prior to each date of payment
of principal and any premium or interest if there has been any change with respect to the matters
set forth in the below-mentioned Officers’ Certificate, the Company shall furnish the Trustee and
the Company’s principal Paying Agent or Paying Agents, if other than the Trustee, with an Officers’
Certificate instructing the Trustee and such Paying Agent or Paying Agents whether that payment of
principal of and any premium or interest on the Securities of that series shall be made to Holders
of Securities of that series who are United States Aliens without withholding for or on account of
any tax, assessment or other governmental charge described in the Securities of that series. If any
such withholding shall be required, then that Officers’ Certificate shall specify by country the
amount, if any, required to be withheld on those payments to those Holders of



29









 







Securities, and the
Company will pay to that Paying Agent the Additional Amounts required by this Section. The Company
covenants to indemnify the Trustee and any Paying Agent for and to hold them harmless against any
loss, liability or expense reasonably incurred without negligence or bad faith on their part
arising out of or in connection with actions taken or omitted by any of them in reliance on any
Officers’ Certificate furnished pursuant to this Section 3.7.



ARTICLE IV




Successor Company




     Section 4.1. Merger, Consolidation or Sale of Assets. The Company will not, directly or indirectly: (1)
consolidate, amalgamate or merge with or into another Person (whether or not the Company is the
surviving corporation), convert into another form of entity or continue in another jurisdiction; or
(2) sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its
properties or assets, in one or more related transactions, to another Person, unless:




     (1) either: (a) the Company is the surviving corporation; or (b) the Person
(the “Successor Company”) formed by or surviving any such consolidation,
amalgamation or merger or resulting from such conversion (if other than the Company)
or to which such sale, assignment, transfer, lease, conveyance or other disposition
has been made is a corporation, limited liability company or
limited partnership organized or existing under the laws of the United States,
any state of the United States or the District of Columbia;




     (2) the Person formed by or surviving any such conversion, consolidation,
amalgamation or merger (if other than the Company) or the Person to which such sale,
assignment, transfer, lease, conveyance or other disposition has been made assumes
all the obligations of the Company under the Securities and this Indenture pursuant
to a supplemental indenture and other agreements reasonably satisfactory to the
Trustee; provided that, unless such Person is a corporation, a corporate co-issuer
of the Securities will be added to this Indenture by agreements reasonably
satisfactory to the Trustee; and




     (3) immediately after such transaction no Default or Event of Default exists.



     For purposes of this covenant, the sale, lease, conveyance, assignment, 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 assets of
the Company.



     The Successor Company will succeed to, and be substituted for, and may exercise every right
and power of, the Company under this Indenture, but, in the case of a lease of all or



30









 







substantially
all its assets, the Company will not be released from the obligation to pay the principal of,
premium, if any, on and interest and Additional Amounts, if any, on the Securities.



ARTICLE V




Redemption of Securities




     Section 5.1. Applicability of Article. Redemption of Securities at the election of the Company or
otherwise, as permitted or required by any provision of this Indenture, shall be made in accordance
with such provision and (except as otherwise provided as contemplated by Section 2.1 with
respect to the Securities of any series) this Article V.



     Section 5.2. Election to Redeem; Notice to Trustee. In case of any redemption of any series of
Securities at the election of the Company, the Company shall, upon not later than the earlier of
the date that is 45 days prior to the Redemption Date fixed by the Company or the date on which
notice is given to the Holders (unless a shorter notice shall be satisfactory to the Trustee),
notify the Trustee of such Redemption Date and of the principal amount of Securities to be redeemed
and shall deliver to the Trustee such documentation and records as shall enable the Trustee to
select the Securities of such series to be redeemed pursuant to Section 5.3.



     Section 5.3. Selection by Trustee of Securities to Be Redeemed. If fewer than all of the Securities of
any series are to be redeemed at any time, the Trustee will, subject to applicable law, select
Securities of any series for redemption as follows:




     (1) if the Securities are listed on any national securities exchange, in
compliance with the requirements of the principal national securities exchange on
which the Securities are listed; or




     (2) if the Securities are not listed on any national securities exchange, on a
pro rata basis.



     Section 5.4. Notice of Redemption. Notice of redemption shall be given in the manner provided for in
Section 13.2 not less than 30 nor more than 60 days prior to the Redemption Date, to each
Holder of Securities to be redeemed, except that redemption notices may be mailed more than 60 days
prior to a Redemption Date if such notice is issued in connection with a defeasance of the
Securities or a satisfaction and discharge of this Indenture. Notice of any redemption including,
without limitation, upon an Equity Offering 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. The Trustee shall give notice of redemption in the Company’s name and at the Company’s
expense; provided, however, that the Company shall deliver to the Trustee, at least 45 days prior
to the Redemption Date (unless a shorter notice shall be satisfactory to the Trustee), an Officers’
Certificate requesting that the Trustee give such notice at the Company’s expense and setting forth
the information to be stated in such notice as provided in the following items.



     All notices of redemption shall state:




     (1) the Redemption Date;



31









 









     (2) the redemption price and the amount of accrued interest and Additional
Amounts, if any, to the Redemption Date payable as provided in Section 5.6;




     (3) if less than all outstanding Securities are to be redeemed, the
identification of the particular Securities (or portion thereof) to be redeemed, as
well as the aggregate principal amount of Securities to be redeemed and the
aggregate principal amount of Securities to be outstanding after such partial
redemption;




     (4) in case any Securities are is to be redeemed in part only, the notice which
relates to such Securities shall state that on and after the Redemption Date, upon
surrender of such Securities, the Holder will receive, without charge, a new
Security or Securities of authorized denominations for the principal amount thereof
remaining unredeemed;




     (5) that on the Redemption Date the redemption price (and accrued interest, if
any, to the Redemption Date payable as provided in Section 5.6) will become
due and payable upon each such Security, or the portion thereof, to be redeemed,
and, unless the Company defaults in making the redemption payment, that interest and
Additional Amounts, if any, on Securities (or the portions thereof) called for
redemption will cease to accrue on and after said date;




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




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




     (8) that Securities called for redemption (other than a Global Note) must be
surrendered to the Paying Agent to collect the redemption price;




     (9) the CUSIP, ISIN or Common Code number, and that no representation is made
as to the accuracy or correctness of the CUSIP, ISIN or Common Code number, if any,
listed in such notice or printed on the Securities; and




     (10) the section of this Indenture and the paragraph of the Securities pursuant
to which the Securities are to be redeemed.


Any redemption and notice thereof pursuant to this Indenture may, in the Company’s discretion, be
subject to the satisfaction of one or more conditions.




     Section 5.5. Deposit of Redemption Price. Not later than 11:00 a.m. New York time on the Redemption
Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is
acting as its own Paying Agent, segregate and hold in trust as provided in Section 2.6) an
amount of money sufficient to pay the redemption price of, and accrued interest and Additional
Amounts, if any, on, all the Securities which are to be redeemed on that date.




32











 





     Section 5.6. Securities Payable on Redemption Date. Notice of redemption having been
given as aforesaid, unless the notice of redemption is subject to one or more conditions precedent
which have not been satisfied, the Securities so to be redeemed shall, on the Redemption Date,
become due and payable at the redemption price therein specified (together with accrued and unpaid
interest and Additional Amounts, if any, to the Redemption Date), and from and after such date
(unless the Company shall default in the payment of the redemption price and accrued interest and
Additional Amounts, if any) such Securities shall cease to bear interest and Additional Amounts, if
any. Upon surrender of any such Security for redemption in accordance with said notice, such
Security shall be paid by the Company at the redemption price, together with accrued and unpaid
interest and Additional Amounts, if any, to the Redemption Date (subject to the rights of Holders
of record on the relevant record date to receive interest and Additional Amounts, if any, due on an
interest payment date that is on or prior to the Redemption Date).



     If any Security called for redemption shall not be so paid upon surrender thereof for
redemption, the principal (and premium, if any) shall, until paid, bear interest and Additional
Amounts, if any, from the Redemption Date at the rate borne by the Securities.



     Section 5.7. Securities Redeemed in Part. Any Security which is to be redeemed only
in part (pursuant to the provisions of this Article V) shall be surrendered at the office
or agency of the Company maintained for such purpose pursuant to Section 2.5 (with, if the
Company or the Trustee so require, due endorsement by, or a written instrument of transfer in form
satisfactory to the Company and the Trustee duly executed by, the Holder thereof or such Holder’s
attorney duly authorized in writing), and the Company shall execute, and, if applicable, each
Guarantor with respect to such series shall execute the Notation of Guarantee relating to such
Security, if any, and the Trustee shall authenticate and make available for delivery to the Holder
of such Security at the expense of the Company, a new Security or Securities, of any authorized
denomination as requested by such Holder, in an aggregate principal amount equal to and in exchange
for the unredeemed portion of the principal of the Security so surrendered, provided that each such
new Security will be in a principal amount of $1,000 or integral multiple thereof. No Securities
of $1,000 or less may be redeemed in part.



ARTICLE VI




Defaults and Remedies




     Section 6.1. Events of Default. Unless either inapplicable to a particular series or
specifically deleted or modified in or pursuant to the supplemental indenture or Board Resolution
establishing such series of Securities or in the form of Security for such series, an “Event of
Default,” wherever used herein with respect to Securities of any series, occurs if:




     (1) the Company defaults in any payment of interest on or Additional Amounts,
if any, with respect to any Security of that series under this Indenture when due,
continued for 30 days;



33









 






     (2) the Company defaults in the payment when due (at Stated Maturity, upon
redemption or otherwise) of the principal of, or premium, if any, on the Securities
of that series;




     (3) the Company fails to comply with the provisions of Section 4.1
hereof;




     (4) the Company fails for 60 days after notice to the Company by the Trustee or
the Holders of at least 25% in aggregate principal amount of the Securities of that
series then outstanding voting as a single class to comply with any of the other
agreements in this Indenture;




     (5) (a) except as permitted by this Indenture, any Security Guarantee of that
series shall be held in any judicial proceeding to be unenforceable or invalid or
ceases for any reason to be in full force and effect or (b) any Guarantor of that
series, or any Person acting on behalf of any Guarantor, shall deny or disaffirm its
obligations under its Security Guarantee (except pursuant to the release or
termination of such Security Guarantee in accordance with this Indenture); and




     (6) (a) the Company or any Significant Subsidiary or a group of Subsidiaries
that, taken together (as of the latest available consolidated financial statements
of the Company), would constitute a Significant Subsidiary pursuant to or within the
meaning of any Bankruptcy Law:




	 	(i)	 	commences a voluntary case or proceeding;
	 
	 	(ii)	 	consents to the entry of a judgment, decree or
order for relief against it in an involuntary case or proceeding;
	 
	 	(iii)	 	consents to the appointment of a Custodian of
it or for any substantial part of its property;
	 
	 	(iv)	 	makes a general assignment for the benefit of
its creditors; or
	 
	 	(v)	 	consents to or acquiesces in the institution of
a bankruptcy or an insolvency proceeding against it;




or takes any comparable action under any foreign laws relating to insolvency; or





	 	(b)	 	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;
	 
	 	(ii)	 	appoints a Custodian of the
Company or any Significant Subsidiary; or




34









 












	 	(iii)	 	orders the winding up or
liquidation of the Company or any 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 days.



     Section 6.2. Acceleration. Except as otherwise provided as contemplated by Section 2.1 with respect to the
Securities of such series, if any Event of Default with respect to any Securities of such series at
the time outstanding (other than those of the type described in clause (6) of Section
6.1) occurs and is continuing, the Trustee may, and at the direction of the Holders of at least
25% in aggregate principal amount of outstanding Securities of such series shall, declare the
principal of all the Securities of that series, together with all accrued and unpaid interest and
Additional Amounts, if any, and premium, if any, to be due and payable immediately by notice in
writing to the Company and the Trustee specifying the respective Event of Default and that such
notice is a notice of acceleration, and the same shall become immediately due and payable.



     Except as otherwise provided as contemplated by Section 2.1 with respect to the
Securities of any series, in the case of an Event of Default with respect to such series specified
in clause (6) of Section 6.1 hereof, all outstanding Securities of such series
shall become due and payable immediately without further action or notice by the Trustee or the
Holders. Holders may not enforce this Indenture or the Securities except as provided in this
Indenture.



     Except as otherwise provided as contemplated by Section 2.1 with respect to the
Securities of any series, at any time after a declaration of acceleration with respect to the
Securities of such series, the Holders of a majority in principal amount of the Securities of that
series then outstanding (by notice to the Trustee) may, on behalf of the Holders of all the
Securities of that series, rescind and cancel such declaration and its consequences if:




     (1) the rescission would not conflict with any judgment or decree of a court of
competent jurisdiction;




     (2) all existing Defaults and Events of Default with respect to Securities of
that series have been cured or waived except nonpayment of principal of or interest
on the Securities of that series that has become due solely by reason of such
declaration of acceleration;




     (3) to the extent the payment of such interest is lawful, interest (at the same
rate specified in the Securities of such series) on overdue installments of interest
and Additional Amounts, if any, and overdue payments of principal which has become
due otherwise than by such declaration of acceleration has been paid;




     (4) the Company has paid the Trustee its reasonable compensation and reimbursed
the Trustee for its reasonable expenses, disbursements and advances; and




     (5) in the event of the cure or waiver of an Event of Default of the type
described in clause (6) of Section 6.1, the Trustee has received an
Officers’



35









 







Certificate and Opinion of Counsel that such Event of Default has been
cured or waived.



     Section 6.3. Other Remedies. If an Event of Default with respect to any series occurs
and is continuing, the Trustee may pursue any available remedy to collect the payment of principal
of (or premium, if any) or interest or Additional Amounts, if any, on the Securities of such series
or to enforce the performance of any provision of the Securities of such series or this Indenture
with respect to such series.



     The Trustee may maintain a proceeding even if it does not possess any of the Securities or
does not produce any of them in the proceeding. A delay or omission by the Trustee or any Holder
in exercising any right 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. No remedy is exclusive
of any other remedy. All available remedies are cumulative.



     Section 6.4. Waiver of Past Defaults. Except as otherwise provided as contemplated by
Section 2.1 with respect to the Securities of any series, the Holders of a majority in
principal amount of the then outstanding Securities of such series by notice to the Trustee may, on
behalf of the Holders of all the Securities of such series, (a) waive, by their consent (including,
without limitation consents obtained in connection with a purchase of, or tender offer or exchange
offer for, Securities of such series), an existing Default or Event of Default, with respect to
such series and its consequences or compliance with any provisions except (i) a Default or Event of
Default in the payment of the principal of, or premium, if any, or interest or Additional Amounts,
if any, on a Security of such series or (ii) a Default or Event of Default in respect of a
provision that under Section 9.2 cannot be amended without the consent of each Holder
affected and (b) rescind any such acceleration with respect to the Securities of such series and
its consequences if rescission would not conflict with any judgment or decree of a court of
competent jurisdiction. When a Default or Event of Default is waived, it is deemed cured, but no
such waiver shall extend to any subsequent or other Default or Event of Default or impair any
consequent right.



     Section 6.5. Control by Majority. With respect to Securities of any series, the
Holders of a majority in principal amount of the outstanding Securities of such series may 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. However, the Trustee may refuse to
follow any direction that conflicts with law or this Indenture or, subject to Sections 7.1
and 7.2, that the Trustee determines is unduly prejudicial to the rights of the other
Holders or would involve the Trustee in personal liability. Prior to taking any action hereunder,
the Trustee shall be entitled to indemnification satisfactory to it in its sole discretion against
all losses and expenses caused by taking or not taking such action.



     Section 6.6. Limitation on Suits. Subject to Section 6.7, a Holder of a
Security of any series may not pursue any remedy with respect to this Indenture or the Securities
of such series or the related Securities Guarantees unless:




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



36









 






     (2) Holders of at least 25% in aggregate principal amount of the outstanding
Securities of such series have requested in writing that the Trustee pursue the
remedy;




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




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




     (5) the Holders of a majority in principal amount of the outstanding Securities
of such series 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 may not use this Indenture to prejudice the rights of another Holder or to obtain a
preference or priority over another Holder.




     Section 6.7. Rights of Holders to Receive Payment. Notwithstanding any other
provision of this Indenture (including, without limitation, Section 6.6), the right of any
Holder to receive payment of principal of, premium (if any) or interest or Additional Amounts, if
any, when due on the Securities held by such Holder, on or after the respective due dates expressed
in the Securities, 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 6.8. Collection Suit by Trustee. If an Event of Default specified in
clauses (1) or (2) of Section 6.1 occurs and is continuing with respect to
Securities of any series, the Trustee may recover judgment in its own name and as trustee of an
express trust against the Company for the whole amount then due and owing (together with interest
on any unpaid interest to the extent lawful) with respect to such series and the amounts provided
for in Section 7.7.



     Section 6.9. Trustee May File Proofs of Claim. The Trustee may file such proofs of
claim and other papers or documents as may be necessary or advisable in order to have the claims of
the Trustee and the Holders allowed in any judicial proceedings relative to the Company, its
Subsidiaries or its or their respective creditors or properties and, unless prohibited by law or
applicable regulations, may vote on behalf of the Holders in any election of a trustee in
bankruptcy or other Person performing similar functions, and any Custodian in any such judicial
proceeding is hereby authorized by each Holder to make payments to the Trustee and, in the event
that the Trustee shall consent to the making of such payments directly to the Holders, to pay to
the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances
of the Trustee, its agents and its counsel, and any other amounts due the Trustee under Section
7.7. To the extent that the payment of any such compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and any other amounts due
the Trustee under Section 7.7 hereof 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



37









 







to authorize or consent to or accept on behalf of any Holder any plan of
reorganization, arrangement, adjustment or composition affecting the Securities 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 6.10. Priorities. If the Trustee collects any money or property pursuant to
this Article VI, it shall pay out the money or property in the following order:



     FIRST: to the Trustee for amounts due under Section 7.7;



     SECOND: to Holders for amounts due and unpaid on the Securities in respect of which or for
the benefit of which such money has been collected, for principal, premium, if any, and interest
and Additional Amounts, if any, ratably, without preference or priority of any kind, according to
the amounts due and payable on such Securities for principal, premium, if any, and interest and
Additional Amounts, if any, respectively; and



     THIRD: to the Company or the Guarantors or to such other party as a court of competent
jurisdiction may direct.



     The Trustee may fix a record date and payment date for any payment to Holders pursuant to this
Section 6.10. At least 15 days before such record date, the Company shall mail to each
Holder and the Trustee a notice that states the record date, the payment date and amount to be
paid.



     Section 6.11. 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 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 6.11 does not apply to a suit by the Trustee, a suit by the
Company, a suit by a Holder pursuant to Section 6.7 or a suit by Holders of more than 10%
in outstanding principal amount of the Securities of any series.



     Section 6.12. Waiver of Stay, Extension and Usury Laws. Each of the Company and the
Guarantors covenant (to the extent permitted by applicable law) that it will not at any time insist
upon, plead or in any manner whatsoever claim or take the benefit or advantage of, any stay,
extension or usury law or other law wherever enacted, now or at any time hereafter in force, which
would prohibit or forgive the Company or any Guarantor from paying all of any portion of the
principal of (premium, if any, on) or interest and Additional Amounts, if any, on the Securities as
contemplated herein, or which may affect the covenants or the performance of this Indenture; and
(to the extent that it may lawfully do so) each of the Company and the Guarantors
hereby expressly waive all benefit or advantage of any such law, and covenants that they will
not hinder, delay or impede the execution of any power herein granted to the Trustee, but will
suffer and permit the execution of every such power as though no such law had been enacted.



38









 





ARTICLE VII




Trustee




     Section 7.1. Duties of Trustee. (a) If an Event of Default has occurred and is
continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture and use
the same degree of care and skill in their exercise as a prudent Person would exercise or use under
the circumstances in the conduct of such Person’s own affairs; provided that if an Event of Default
occurs and is continuing, the Trustee will be under no obligation to exercise the rights or powers
under this Indenture at the request or direction of any of the Holders unless such Holders have
offered to the Trustee indemnity or security against loss, liability or expense satisfactory to the
Trustee in its sole discretion.




     (b) Except during the continuance of an Event of Default with respect to the Securities
of any series:




     (1) the Trustee undertakes to perform such duties and only such duties as are
specifically set forth in this Indenture and no implied covenants or obligations
shall be read into this Indenture against the Trustee; and




     (2) in the absence of bad faith on its part, the Trustee may conclusively rely,
as to the truth of the statements and the correctness of the opinions expressed
therein, upon certificates, opinions or orders 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 provisions hereof are specifically required to
be furnished to the Trustee, the Trustee shall examine such certificates and
opinions to determine whether or not they conform on their face 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 liability for its own negligent action, its
own negligent failure to act or its own willful misconduct, except that:




     (1) this paragraph does not limit the effect of paragraph (b) of this
Section 7.1;




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




     (3) 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 6.5.




     (d) Every provision of this Indenture that in any way relates to the Trustee is subject
to paragraphs (a), (b) and (c) of this Section 7.1.



39









 






     (e) 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.




     (f) Money held in trust by the Trustee need not be segregated from other funds except
to the extent required by law.




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




     (h) Every provision of this Indenture relating to the conduct or affecting the
liability of or affording protection to the Trustee shall be subject to the provisions of
this Section 7.1 and to the provisions of the TIA.




     (i) 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.




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



     Section 7.2. Rights of Trustee. Subject to Section 7.1:




     (a) The Trustee may conclusively rely on any document (whether in its original or
facsimile form) reasonably 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.




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




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




     (d) The Trustee shall not be liable for any action it takes or omits to take in good
faith which it believes to be authorized or within its rights or powers, unless the
Trustee’s conduct constitutes willful misconduct or negligence.




     (e) The Trustee may consult with counsel of its selection, and the advice or opinion of
counsel with respect to legal matters relating to this Indenture and the



40









 







Securities shall be
full and complete authorization and protection from liability in respect of any action
taken, omitted or suffered by it hereunder in good faith and in accordance with the advice
or opinion of such counsel.




     (f) The Trustee is not required to make any inquiry or investigation into facts or
matters stated in any 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
determines to make such further inquiry or investigation, it shall be entitled to examine
the books, records and premises of the Company.




     (g) The Trustee is not required to take notice or shall not be deemed to have notice of
any Default or Event of Default hereunder with respect to any series of Securities, unless a
Trust Officer of the Trustee has actual knowledge thereof or has received notice in writing
of such Default or Event of Default from the Company or the Holders of at least 25% in
aggregate principal amount of the Securities of such series then outstanding, and in the
absence of any such notice, the Trustee may conclusively assume that no such Default or
Event of Default exists.




     (h) The Trustee is not required to give any bond or surety with respect to the
performance of its duties or the exercise of its powers under this Indenture.




     (i) In the event the Trustee receives inconsistent or conflicting requests and
indemnity from two or more groups of Holders of Securities, each representing less than the
aggregate principal amount of Securities outstanding required to take any action thereunder,
the Trustee, in its sole discretion may determine what action, if any, shall be taken.




     (j) The Trustee’s immunities and protections from liability and its right to
indemnification in connection with the performance of its duties under this Indenture shall
extend to the Trustee’s officers, directors, agents, attorneys and employees. Such
immunities and protections and right to indemnification, together with the Trustee’s right
to compensation, shall survive the Trustee’s resignation or removal, the discharge of this
Indenture and final payments of the Securities.




     (k) The permissive right of the Trustee to take actions permitted by this Indenture
shall not be construed as an obligation or duty to do so.



     Section 7.3. Individual Rights of Trustee. The Trustee in its individual or any other
capacity may become the owner or pledgee of Securities and may otherwise deal with the Company or
its Affiliates with the same rights it would have if it were not Trustee. Any Paying Agent,
Registrar, co-registrar or co-paying agent may do the same with like rights. However, the Trustee
must comply with Sections 7.10 and 7.11.



     Section 7.4. 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 Securities, it shall not
be accountable for the Company’s use of the proceeds from the Securities, and it shall not be
responsible for any statement of the Company in this Indenture or in any document issued in



41









 







connection with the sale of the Securities or in the Securities other than the Trustee’s
certificate of authentication.



     Section 7.5. Notice of Defaults. If a Default or Event of Default with respect to the
Securities of any series occurs and is continuing and if a Trust Officer has actual knowledge
thereof, the Trustee shall mail to each Holder of a Security of such series notice of the Default
or Event of Default within 90 days after it. Except in the case of a Default or Event of Default
in payment of principal of, premium, if any, or interest or Additional Amounts, if any, on any
Security of any series, the Trustee may withhold the notice if and so long as a committee of its
trust officers in good faith determines that withholding the notice is in the interests of Holders
of such series.



     Section 7.6. Reports by Trustee to Holders. As promptly as practicable after each May
15 beginning with the May 15 following the date of this Indenture and for so long as the Securities
of any series remain outstanding, the Trustee shall mail to each Holder of Securities of such
series a brief report dated as of such reporting date that complies with TIA § 313(a). The Trustee
also shall comply with TIA § 313(b). The Trustee shall also transmit by mail all reports required
by TIA § 313(c).



     A copy of each report at the time of its mailing to Holders of Securities of any series shall
be filed with the SEC and each stock exchange (if any) on which the Securities of such series are
listed. The Company agrees to notify promptly the Trustee whenever the Securities of any series
become listed on any stock exchange and of any delisting thereof.



     Section 7.7. Compensation and Indemnity. The Company shall pay to the Trustee from
time to time reasonable compensation for its acceptance of this Indenture and services hereunder as
the Company and the Trustee shall from time to time agree in writing. The Trustee’s compensation
shall not be limited by any law on compensation of a trustee of an express trust. The Company
shall reimburse the Trustee upon request for all reasonable out-of-pocket expenses incurred or made
by it, including costs of collection, costs of preparing and reviewing reports, certificates and
other documents, costs of preparation and mailing of notices to Holders, in addition to the
compensation for its services. Such expenses shall include the reasonable compensation and
expenses, disbursements and advances of the Trustee’s agents, counsel, accountants and experts.
The Company shall indemnify the Trustee against any and all loss, liability, damages, claims or
expense (including reasonable attorneys’ fees and expenses) incurred by it without negligence or
willful misconduct on its part in connection with the administration of this trust and the
performance of its duties hereunder, including the costs and expenses of enforcing this Indenture
(including this Section 7.7) and of defending itself against any claims (whether asserted
by any Holder, the Company or otherwise). 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 and the
Trustee shall provide reasonable cooperation at the Company’s expense in the defense. The Trustee
may have separate counsel and the Company shall pay the fees and expenses of such counsel provided
that the Company shall not be required to pay such fees and expenses if it assumes the Trustee’s
defense, and, in the reasonable judgment of outside counsel to the Trustee, there is no conflict of
interest between the Company
and the Trustee in connection with such defense. The Company shall not be under any



42









 







obligation to pay for any written settlement without its consent, which consent shall not be
unreasonably delayed, conditioned or withheld. The Company need not reimburse any expense or
indemnify against any loss, liability or expense incurred by the Trustee through the Trustee’s own
willful misconduct or negligence.



     To secure the Company’s payment obligations in this Section 7.7, the Trustee shall
have a lien prior to the Securities on all money or property held or collected by the Trustee other
than money or property held in trust to pay principal of, interest and Additional Amounts, if any,
on particular Securities.



     The Company’s payment obligations pursuant to this Section 7.7 shall survive the
discharge of this Indenture. When the Trustee incurs expenses after the occurrence of a Default
specified in clause (9) of Section 6.1 with respect to the Company, the expenses are
intended to constitute expenses of administration under any Bankruptcy Law.



     Section 7.8. Replacement of Trustee. The Trustee may resign at any time by so
notifying the Company. The Holders of a majority in principal amount of the then outstanding
Securities of any series may remove the Trustee with respect to the Securities of such series by so
notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee
if:




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




     (2) the Trustee is adjudged bankrupt or insolvent;




     (3) a receiver or other public officer takes charge of the Trustee or its
property; or




     (4) the Trustee otherwise becomes incapable of acting.



     If the Trustee resigns or is removed by the Company or by the Holders of a majority in
principal amount of the then outstanding Securities of any series and such Holders of such series
do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of the
Trustee for any reason (the Trustee in such event being referred to herein as the retiring
Trustee), the Company shall promptly appoint a successor Trustee with respect to such series.



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



     If the Trustee with respect to the Securities of a series fails to comply with Section
7.10, unless the Trustee’s duty to resign is stayed as provided in TIA § 310(b), any Holder who
has been a bona fide Holder of a Security of such series for at least six months may petition any
court of competent jurisdiction for the removal of the Trustee and the appointment of a successor
Trustee with respect to such series.



43









 





     In case of the appointment of a successor Trustee with respect to all Securities, each such
successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee, to
the Company and to the Guarantors. Thereupon the resignation or removal of the retiring Trustee
shall become effective, and the successor Trustee shall have all the rights, power and duties of
the retiring 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, subject to the lien provided for in Section 7.7.



     In case of the appointment of a successor Trustee with respect to the Securities of one or
more (but not all) series, the Company, the Guarantors, the retiring Trustee and each successor
Trustee with respect to the Securities of one or more (but not all) series shall execute and
deliver an indenture supplemental hereto in which each successor Trustee shall accept such
appointment and that (1) shall confer to each successor Trustee all the rights, powers and duties
of the retiring Trustee with respect to the Securities of that or those series to which the
appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with
respect to all Securities, shall confirm that all the rights, powers and duties of the retiring
Trustee with respect to the Securities of that or those series as to which the retiring Trustee is
not retiring shall continue to be vested in the retiring Trustee and (3) shall add to or change any
of the provisions of this Indenture as shall be necessary to provide for or facilitate the
administration of the trusts hereunder by more than one Trustee. Nothing herein or in such
supplemental indenture shall constitute such Trustees co-trustees of the same trust, and each such
Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts
hereunder administered by any other such Trustee. Upon the execution and delivery of such
supplemental indenture, the resignation or removal of the retiring Trustee shall become effective
to the extent provided therein and each such successor Trustee shall have all the rights, powers
and duties of the retiring Trustee with respect to the Securities of that or those series to which
the appointment of such successor Trustee relates. On request of the Company or any successor
Trustee, such retiring Trustee shall transfer to such successor Trustee all property held by such
retiring Trustee as Trustee with respect to the Securities of that or those series to which the
appointment of such successor Trustee relates. Such retiring Trustees shall, however, have the
right to deduct its unpaid fees and expenses, including attorneys’ fees.



     Notwithstanding the replacement of the Trustee pursuant to this Section 7.8, the
Company’s obligations under Section 7.7 shall continue for the benefit of the retiring
Trustee.



     Section 7.9. Successor Trustee by Merger. If the Trustee consolidates with, merges or
converts into, or transfers all or substantially all its corporate trust business or assets to,
another corporation or banking association, the resulting, surviving or transferee corporation
without any further act shall be the successor Trustee.



     In case at the time such successor or successors by merger, conversion or consolidation to the
Trustee shall succeed to the trusts created by this Indenture, any of the Securities shall have
been authenticated but not delivered, any such successor to the Trustee may adopt the certificate
of authentication of any predecessor trustee, and deliver such Securities so authenticated; and in
case at that time any of the Securities shall not have been authenticated, any successor to the
Trustee may authenticate such Securities either in the name of any predecessor hereunder or in



44









 







the name of the successor to the Trustee; and in all such cases such certificates shall have
the full force which it is anywhere in the Securities or in this Indenture.



     Section 7.10. Eligibility; Disqualification. The Trustee shall at all times satisfy
the requirements of TIA § 310(a). The Trustee shall have a combined capital and surplus of at
least $100.0 million as set forth in its most recent published annual report of condition. The
Trustee shall comply with TIA § 310(b); provided, however, that there shall be excluded from the
operation of TIA § 310(b)(1) any indenture or indentures under which other securities or
certificates of interest or participation in other securities of the Company are outstanding if the
requirements for such exclusion set forth in TIA § 310(b)(1) are met.



     Section 7.11. Preferential Collection of Claims Against Company. The Trustee shall
comply with TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). A Trustee
who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated.



ARTICLE VIII




Legal Defeasance and Covenant Defeasance




     Section 8.1. Option to Effect Legal Defeasance or Covenant Defeasance. Unless
otherwise designated pursuant to Section 2.1(20), the Securities of any series shall be
subject to defeasance or covenant defeasance pursuant to Section 8.2 or 8.3, in
accordance with any applicable requirements provided pursuant to Section 2.1 and upon
compliance with the conditions set forth in this Article VIII. The Company may, at its
option and at any time, elect to have either Section 8.2 or 8.3 hereof be applied
to all outstanding Securities of any series so subject to defeasance or covenant defeasance. Any
such election shall be evidenced by a Board Resolution of the Company or in another manner
specified as contemplated by Section 2.1 for such Securities.



     Section 8.2. Legal Defeasance and Discharge. Upon the Company’s exercise under
Section 8.1 hereof of the option applicable to this Section 8.2 with respect to
Securities of any series, the Company shall, subject to the satisfaction of the conditions set
forth in Section 8.4 hereof, be deemed to have been discharged from its Obligations with
respect to all outstanding Securities of such series on the date the conditions set forth below are
satisfied (hereinafter, “Legal Defeasance”) and each Guarantor shall be released and
relieved from all of its Obligations under its Security Guarantee with respect to such series. For
this purpose, Legal Defeasance means that the Company shall be deemed to have paid and discharged
the entire indebtedness represented by the outstanding Securities with respect to such series,
which shall thereafter be deemed to be “outstanding” only for the purposes of Section 8.5
hereof and the other Sections of this Indenture referred to in clauses (a) through (e) below, and
to have satisfied all its other obligations under the Securities with respect to such series and
this Indenture (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
Securities with respect to such series to receive, solely from the trust fund described in
Sections 8.4 and 8.5 hereof, and as more fully set forth in such Section, payments
in respect of the principal of, premium, if any, and interest and Additional Amounts, if any, on
such Securities when such



45









 







payments are due, (b) the Company’s Obligations with respect to such Securities under
Article II and Sections 3.1 hereof, (c) the rights, powers, trusts, duties and
immunities of the Trustee hereunder and the Company’s and the Guarantors’ obligations in connection
therewith, (d) the optional redemption provisions, if any, with respect to such Securities, and (e)
this Article VIII. If the Company exercises under Section 8.1 hereof the option
applicable to this Section 8.2, subject to the satisfaction of the conditions set forth in
Section 8.4 hereof, payment of the Securities with respect to such series may not be
accelerated because of an Event of Default. Subject to compliance with this Article VIII,
the Company may exercise its option under this Section 8.2 notwithstanding the prior
exercise of its option under Section 8.3 hereof.



     Section 8.3. Covenant Defeasance. Upon the Company’s exercise under Section
8.1 hereof of the option applicable to this Section 8.3 with respect to Securities of
any series, the Company shall, with respect to such series of Securities, subject to the
satisfaction of the conditions set forth in Section 8.4 hereof, be released from its
obligations under the covenants contained in Sections 3.2 and 3.3, with respect to the
outstanding Securities of such series on and after the date the conditions set forth in Section
8.4 hereof are satisfied (hereinafter, “Covenant Defeasance”) and each Guarantor shall
be released from all of its obligations under its Security Guarantee with respect to such series of
Securities, and the Securities of such series shall thereafter be deemed not “outstanding” for the
purposes of any direction, waiver, consent or declaration or act of Holders of such series (and the
consequences of any thereof) in connection with such covenants, but shall continue to be deemed
“outstanding” for all other purposes hereunder (it being understood that such Securities shall not
be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that,
with respect to the outstanding Securities of such series, the Company and the 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 6.1 hereof, but, except as specified above,
the remainder of this Indenture and such Securities shall be unaffected thereby. If the Company
exercises under Section 8.1 hereof the option applicable to this Section 8.3,
subject to the satisfaction of the conditions set forth in Section 8.4 hereof, payment of
the Securities of such series may not be accelerated because of an Event of Default specified in
clauses (4) (with respect to Sections 3.2 and 3.3), (5), (6) and (8) of such Section
6.1 (but in the case of clause (8) of Section 6.1 hereof, with respect to Significant
Subsidiaries only).



     Section 8.4. Conditions to Legal or Covenant Defeasance. The following shall be the
conditions to the application of either Section 8.2 or 8.3 hereof to the
outstanding Securities of any series.



     In order to exercise Legal Defeasance or Covenant Defeasance with respect to the Securities of
any series:




     (1) the Company must irrevocably deposit with the Trustee, in trust, for the
benefit of the Holders of the Securities of such series, cash in U.S. dollars,
non-callable Government Securities, or a combination of cash in U.S. dollars, and
non-callable Government Securities, in amounts as will be sufficient, in the



46









 







opinion of a nationally recognized investment bank, appraisal firm or firm of
independent public accountants, to pay the principal of, and interest and Additional
Amounts, if any, and premium, if any, on the outstanding Securities of such series
on the stated date for payment or on the applicable Redemption Date, as the case may
be, and the Company must specify whether the Securities of such series are being
defeased to such stated date for payment or to a particular Redemption Date




     (2) in the case of Legal Defeasance, the Company must deliver 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 will confirm that, the Holders of the
outstanding Securities of such series will not recognize income, gain or loss for
federal income tax purposes as a result of such Legal Defeasance and shall be
subject to federal income tax in 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 must deliver to the Trustee
an Opinion of Counsel reasonably acceptable to the Trustee confirming that Holders
of the outstanding Securities of such series 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 in 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;




     (4) no Default or Event of Default has occurred and be continuing with respect
to the Securities of such series 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);




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




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



47









 






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



     Section 8.5. Deposited Cash and Government Securities to be Held in Trust; Other
Miscellaneous Provisions. Subject to Section 8.6 hereof, all cash and non-callable Government Securities
(including the proceeds thereof) deposited with the Trustee (or other qualifying trustee),
collectively for purposes of this Section 8.5, the “Trustee”) pursuant to
Section 8.4 hereof in respect of the outstanding Securities of such series shall be held in
trust and applied by the Trustee, in accordance with the provisions of such Securities of such
series and this Indenture, to the payment, either directly or through any Paying Agent (including
the Company acting as Paying Agent) as the Trustee may determine, to the Holders of Securities of
such series of all sums due and to become due thereon in respect of principal, premium, if any,
interest and Additional Amounts, if any, but such cash and securities 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 non-callable Government Securities deposited pursuant to
Section 8.4 hereof 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
Securities of such series.



     Anything in this Article VIII to the contrary notwithstanding, the Trustee shall
deliver or pay to the Company from time to time upon the request of the Company any cash or
non-callable Government Securities held by it as provided in Section 8.4 hereof which, in
the opinion of a nationally recognized independent registered public accounting firm expressed in a
written certification thereof delivered to the Trustee (which may be the certification delivered
under clause (1) of Section 8.4 hereof), 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 8.6. Repayment to Company. Any cash or non-callable Government Securities
deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the
payment of the principal of, premium, if any, on, or interest or Additional Amounts, if any, on,
any Security of any series and remaining unclaimed for one year after such principal, premium, if
any, or interest or Additional Amounts, if any, has become due and payable shall be paid to the
Company on its request (unless an abandoned property law designates another Person) or (if then
held by the Company) shall be discharged from such trust; and such Holder shall thereafter, as an
unsecured creditor, look only to the Company for payment thereof, and all liability of the Trustee
or such Paying Agent with respect to such cash and securities, and all liability of the Company as
Trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent,
before being required to make any such repayment, may at the expense of the Company cause to be
published once, in The New York Times and The Wall Street Journal (national edition), notice that
such cash and securities remains unclaimed and that, after a date specified therein, which shall
not be less than 30 days from the date of such notification or publication, any unclaimed balance
of such cash and securities then remaining shall be repaid to the Company.



48









 





     Section 8.7. Reinstatement. If the Trustee or Paying Agent is unable to apply any
cash or non-callable Government Securities in accordance with Section 8.2, 8.3 or
8.5 hereof, as the case may be, by reason of any order or judgment of any court or
governmental authority enjoining, restraining or otherwise prohibiting such application, then the
Company’s obligations under this Indenture and the Securities of such series shall be revived and
reinstated as though no deposit had occurred pursuant to Section 8.4 hereof until such time
as the Trustee or Paying Agent is permitted to apply all such cash and securities in accordance
with Section 8.2, 8.3 or 8.5 hereof, as the case may be; provided, however,
that, if the Company makes any payment of principal of, premium, if any, on, or interest or
Additional Amounts, if any, on, any Security of such series following the reinstatement of its
obligations, the Company shall be subrogated to the rights of the Holders of such series to receive
such payment from the cash and securities held by the Trustee or Paying Agent.



ARTICLE IX




Amendments




     Section 9.1. Without Consent of Holders. Except as otherwise provided as contemplated
by Section 2.1 with respect to the Securities of any series, the Company, the Guarantors
and the Trustee may amend or supplement this Indenture, the Securities or the Security Guarantees
without notice to or consent of any Holder:




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




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




     (3) to provide for the assumption of the Company’s or a Guarantor’s obligations
to Holders of Securities of any series and Security Guarantees in the case of a
merger or consolidation or sale of all or substantially all of the Company’s or such
Guarantor’s properties or assets, as applicable;




     (4) to comply with requirements of the SEC in order to maintain the
qualification of this Indenture under the Trust Indenture Act;




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




     (6) to add any additional Events of Default with respect to all or any series
of the Securities (and, if any such Event of Default is applicable to less than
series of Securities, specifying the series to which such Event of Default is
applicable);




     (7) to change or eliminate any of the provisions of this Indenture; provided
that any such change or elimination shall become effective only when



49









 







there is no outstanding Security of any series created prior to the execution
of such amendment or supplemental indenture that is adversely affected in any
material respect by such change in or elimination of such provision;




     (8) to establish the form or terms of Securities of any series as permitted by
Section 2.1;




     (9) to supplement any of the provisions of this Indenture to such extent as
shall be necessary to permit or facilitate the defeasance and discharge of any
series of Securities pursuant to Section 8.1; provided, however, that any
such action shall not adversely affect the interest of the Holders of Securities of
such series or any other series of Securities in any material respect;




     (10) to allow any Guarantor to execute a supplemental indenture and/or a
Security Guarantee with respect to the Securities of any series or release Security
Guarantees of any series pursuant to the terms of this Indenture;




     (11) to secure the Securities of any series;




     (12) to evidence and provide for the acceptance under this Indenture of a
successor trustee; or




     (13) to conform the text of this Indenture or any Securities or any Securities
Guarantee endorsed thereon to any provision of the “Description of Debt Securities”
section of the Prospectus or the comparable section in any prospectus or prospectus
supplement of the Company prepared from time to time after the date of this
Indenture with respect to the offer and sale of Securities of any series, to the
extent that such provision was intended to be a verbatim recitation of a provision
of this Indenture, the Securities or such Securities Guarantee.



     After an amendment under this Indenture becomes effective, the Company is required to mail to
the Holders of each Security affected thereby a notice briefly describing such amendment. However,
the failure to give such notice to all the Holders of each Security affected thereof, or any defect
therein, will not impair or affect the validity of the amendment or supplemental indenture under
this Section 9.1.



     Section 9.2. With Consent of Holders. Except as otherwise provided as contemplated by
Section 2.1 with respect to the Securities of any series, except as provided below in this
Section 9.2, the Company, the Guarantors and the Trustee may amend or supplement this
Indenture with the consent (including consents obtained in connection with a tender offer or
exchange offer for Securities) of the Holders of a majority in principal amount of the then
outstanding Securities of all series affected by such amendment or supplement (acting as one
class).



     Upon the request of the Company, accompanied by a Board Resolution, and upon the filing with
the Trustee of evidence of the consent of the Holders as aforesaid, and upon receipt by the Trustee
or the documents described in Section 9.6, the Trustee shall, subject to Section
9.6,



50









 







join with the Company and the Guarantors in the execution of such amendment or supplemental
indenture.



     Except as otherwise provided as contemplated by Section 2.1 with respect to the
Securities of any series, the Holders of a majority in principal amount of the then outstanding
Securities of one or more series or of all series affected by such waiver (acting as one class) may
waive compliance in a particular instance by the Company or any Guarantor with any provision of
this Indenture with respect to Securities of such series (including waivers obtained in connection
with a tender offer or exchange offer for Securities of such series).



     However,
except as otherwise provided as contemplated by
Section 2.1 with respect to the Securities of any series,
without the consent of each Holder affected, an amendment, supplement or waiver may
not (with respect to any Securities held by a non-consenting Holder):




     (1) reduce the principal amount of Securities whose Holders must consent to an
amendment, supplement or waiver;




     (2) reduce the principal of or change the fixed maturity of any Security or
alter the provisions with respect to the redemption or repurchase of the Securities;




     (3) reduce the rate of or change the time for payment of interest, including
default interest on any Security;




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




     (5) make any Security payable in currency other than that stated in the
Securities;




     (6) make any change in the provisions of this Indenture relating to waivers of
past Defaults or the rights of Holders of Securities to receive payments of
principal of, or interest or premium, if any, on the Securities (other than as
permitted in clause (7) below);




     (7) waive a redemption payment with respect to any Security;




     (8) allow any Guarantor to execute a supplemental indenture and/or a Security
Guarantee with respect to the Securities or release any Guarantor from any of its
obligations under its Security Guarantee or this Indenture, except in accordance
with the terms of this Indenture;




     (9) modify the provisions of this Indenture with respect to the subordination
of any Security in a manner adverse to the Holder thereof; or



51









 






     (10) make any change in the preceding amendment, supplement and waiver
provisions.



     It shall not be necessary for the consent of the Holders under this Section 9.2 to
approve the particular form of any proposed amendment, but it shall be sufficient if such consent
approves the substance of the proposed amendment.



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



     A consent to any amendment or waiver under this Indenture by any Holder of the Securities
given in connection with a tender of such Holder’s Securities will not be rendered invalid by such
tender. After an amendment under this Section becomes effective, the Company shall mail to Holders
of each Security affected thereby a notice briefly describing such amendment. The failure to give
such notice to all Holders of each Security affected thereby, or any defect therein, shall not
impair or affect the validity of an amendment, supplemental indenture or waiver under this
Section 9.2.



     Section 9.3. Compliance with Trust Indenture Act. Every amendment or supplement to
this Indenture or the Securities shall comply with the TIA as then in effect.



     Section 9.4. Revocation and Effect of Consents and Waivers. A consent to an amendment
or a waiver by a Holder of a Security shall be in writing and bind the Holder and every subsequent
Holder of that Security or portion of the Security that evidences the same debt as the consenting
Holder’s Security, even if notation of the consent or waiver is not made on the Security. However,
any such Holder or subsequent Holder may revoke the consent or waiver as to such Holder’s Security
or portion of the Security if the Trustee receives the notice of revocation before the date the
amendment or waiver becomes effective. After an amendment or waiver becomes effective with respect
to a series of Securities, it shall bind every Holder of Securities of such series.



     For purposes of this Indenture, the written consent of the Holder of a Global Security shall
be deemed to include any consent delivered by an Agent Member by electronic means in accordance
with the Automated Tender Offer Procedures system or other customary procedures of, and pursuant to
authorization by, DTC.



     The Company may, but shall not be obligated to, fix a record date for the purpose of
determining the Holders entitled to give their consent or take any other action described above or
required or permitted to be taken pursuant to this Indenture. The Trustee may, but shall not be
obligated to, fix a record date for the purpose of determining the Holders of Securities of any
series entitled to join in the giving, making or taking of (i) any notice permit to Section
6.1(4) or otherwise of any Default, (ii) any declaration of acceleration pursuant to
Section 6.2, (iii) any request to institute proceedings pursuant to Section 6.6(2),
or (iv) any direction referred to in Section 6.5, in each case with respect to such series.
If a record date is so fixed, then



52









 







notwithstanding the second preceding paragraph, those Persons who were Holders at such record
date (or their duly designated proxies), and only those Persons, shall be entitled to give such
consent or to revoke any consent previously given or to take any such action, whether or not such
Persons continue to be Holders after such record date. No such consent shall become valid or
effective more than 180 days after such record date.



     Section 9.5. Notation on or Exchange of Securities. If an amendment changes the terms
of a Security, the Trustee may require the Holder of the Security to deliver it to the Trustee.
The Trustee may place an appropriate notation on the Security regarding the changed terms and
return it to the Holder. Alternatively, if the Company or the Trustee so determines, the Company
in exchange for the Security shall issue and the Trustee shall authenticate a new Security that
reflects the changed terms. Failure to make the appropriate notation or to issue a new Security
shall not affect the validity of such amendment.



     Section 9.6. Trustee To Sign Amendments. The Trustee shall sign any amendment
authorized pursuant to this Article IX if the amendment does not adversely affect the
rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may but need not
sign it. In signing such amendment the Trustee shall be entitled to receive indemnity reasonably
satisfactory to it and to receive, and (subject to Sections 7.1 and 7.2) shall be
fully protected in relying upon an Officers’ Certificate and an Opinion of Counsel stating that
such amendment is authorized or permitted by this Indenture.



ARTICLE X




Subordination




     Section 10.1. Securities and Guarantees Subordinated to Senior Debt. The Company, the
Guarantors and each Holder of a Security of a series, by his or her acceptance thereof, agree that
(a) the payment of the principal of, premium (if any) and interest on and any Additional Amounts
with respect to each and all the Securities of such series and related Guarantees and (b) any other
payment in respect of the Securities of such series and related Guarantees, including on account of
the acquisition or redemption of Securities of such series by the Company or any Guarantors, as the
case may be, is subordinated, to the extent and in the manner provided in this Article X,
to the prior payment in full of all Senior Debt of the Company, whether outstanding at the date of
this Indenture or thereafter created, incurred, assumed or guaranteed, and that these subordination
provisions are for the benefit of the holders of Senior Debt of the Company.



     Each Holder of a Security, by his or her acceptance thereof, acknowledges and agrees that the
provisions of this Article X are, and are intended to be, an inducement and a consideration
to all Persons who, in reliance on such provisions, become holders of, or continue to hold, Senior
Debt of the Company, and such provisions are made for the benefit of the holders of Senior Debt of
the Company, and those holders are made obligees hereunder, and any one or more of them may enforce
such provisions.



     Section 10.2. No Payment on Securities in Certain Circumstances.



53









 






     (a) Unless otherwise specified with respect to Securities of a series as contemplated
by Section 2.1, no payment shall be made by or on behalf of the Company or the
Guarantors, as the case may be, on account of the principal of, premium (if any) or interest
on or any Additional Amounts with respect to the Securities of any series or any related
Guarantees or to acquire any of those Securities (including any repurchases of those
Securities pursuant to the provisions thereof at the option of the Holder of those
Securities) for cash or property (other than Junior securities of the Company), or on
account of any redemption provisions of those Securities, in the event of default in payment
of any principal of, premium (if any) or interest on any Senior Debt of the Company when the
same becomes due and payable, whether at maturity or at a date fixed for prepayment or by
declaration of acceleration or otherwise (a “Payment Default”), unless and until
that Payment Default has been cured or waived or otherwise has ceased to exist.




     (b) Unless otherwise specified with respect to Securities of a series as contemplated
by Section 2.1, no payment shall be made by or on behalf of the Company or the
Guarantors, as the case may be, on account of the principal of, premium (if any) or interest
on or any Additional Amounts with respect to the Securities of any series or to acquire any
of those Securities (including any repurchases of those Securities pursuant to the
provisions thereof at the option of the Holder of those Securities) for cash or property
(other than Junior securities of the Company), or on account of the redemption provisions of
those Securities, in the event of any event of default (other than a Payment Default) with
respect to any Designated Senior Debt permitting the holders of that Designated Senior Debt
(or a trustee or other representative on behalf of the holders thereof) to declare that
Designated Senior Debt due and payable prior to the date on which it would otherwise have
become due and payable, on written notice thereof to the Company and the Trustee (and if
such Designated Senior Debt is Indebtedness of a Guarantor, such Guarantor) by any holders
of Designated Senior Debt (or a trustee or other representative on behalf of the holders
thereof) (the “Payment Blocking Notice”), unless and until that event of default
shall have been cured or waived or otherwise has ceased to exist or such Designated Senior
Debt has been discharged or paid in full; provided, that such payments may not be prevented
pursuant to this Section 10.2(b) for more than 179 days after an applicable Payment
Blocking Notice has been received by the Trustee unless the Designated Senior Debt in
respect of which that event of default exists has been declared due and payable in its
entirety, in which case no such payment may be made until that acceleration has been
rescinded or annulled or that Designated Senior Debt has been paid in full. Unless
otherwise specified with respect to Securities of a series as contemplated by Section
2.1, no event of default that existed or was continuing on the date of any Payment
Blocking Notice (whether or not that event of default is on the same issue of Designated
Senior Debt) may be made the basis for the giving of a second Payment Blocking Notice, and
only one such Payment Blocking Notice may be given in any period of 365 consecutive days.




     (c) In furtherance of the provisions of Section 10.1, in the event that,
notwithstanding the foregoing provisions of this Section 10.2, any payment or
distribution of assets of the Company or the Guarantors, as the case may be (other than
Junior securities of the Company) shall be received by the Trustee or the Holders of the




54












 






Securities of any series and the related Guarantees or any Paying Agent with respect
thereto at a time when that payment or distribution was prohibited by the provisions of this
Section 10.2, then, unless that payment or distribution is no longer prohibited by
this Section 10.2, that payment or distribution (subject to the provisions of
Section 10.7) shall be received and held in trust by the Trustee or such Holders or
Paying Agent for the benefit of the holders of Senior Debt of the Company, and shall be paid
or delivered by the Trustee or such Holders or Paying Agent, as the case may be, to the
holders of Senior Debt of the Company remaining unpaid or unprovided for or their
representative or representatives, or to the trustee or trustees under any indenture
pursuant to which any instruments evidencing that Senior Debt of the Company may have been
issued, ratably, according to the aggregate amounts remaining unpaid on account of that
Senior Debt of the Company held or represented by each, for application to the payment of
all Senior Debt of the Company in full after giving effect to all concurrent payments and
distributions to or for the holders of that Senior Debt.



     Section 10.3. Securities and Guarantees Subordinated to Prior Payment of All Senior Debt on Dissolution,
Liquidation or Reorganization. Upon any distribution of assets of the Company or the
Guarantors, as the case may be, or upon any dissolution, winding up, total or partial liquidation
or reorganization of the Company or the Guarantors, as the case may be, whether voluntary or
involuntary, in bankruptcy, insolvency, receivership or similar proceeding or upon assignment for
the benefit of creditors:




     (a) the holders of all Senior Debt of the Company shall first be entitled to receive
payments in full before the Holders of Securities of any series and any related Guarantees
are entitled to receive any payment (other than in the form of Junior securities of the
Company) on account of the principal of, premium (if any) or interest on or any Additional
Amounts with respect to those Securities and any related Guarantees (other than Junior
securities);




     (b) any payment or distribution of assets of the Company or the Guarantors, as the case
may be, of any kind or character, whether in cash, property or securities (other than Junior
securities of the Company), to which the Holders of Securities of any series and any related
Guarantees or the Trustee on behalf of those Holders would be entitled, except for the
provisions of this Article X, shall be paid by the liquidating trustee or agent or
other Person making such a payment or distribution directly to the holders of that Senior
Debt or their representative, ratably according to the respective amounts of Senior Debt
held or represented by each, to the extent necessary to make payment in full of all that
Senior Debt remaining unpaid after giving effect to all concurrent payments and
distributions to the holders of that Senior Debt; and




     (c) in the event that, notwithstanding the foregoing, any payment or distribution of
assets of the Company or the Guarantors, as the case may be, of any kind or character,
whether in cash, property or securities (other than Junior securities), shall be received by
the Trustee or the Holders of Securities of any series and any related Guarantees or any
Paying Agent with respect thereto (or, if the Company, any Guarantor or any other Subsidiary
is acting as its own Paying Agent, money for any such payment
or distribution shall be segregated or held in trust) on account of the principal of,



55









 







premium (if any) or interest on or any Additional Amounts with respect to the Securities of
that series and any related Guarantees before all Senior Debt of the Company is paid in
full, that payment or distribution (subject to the provisions of Section 10.7) shall
be received and held in trust by the Trustee or such Holder or Paying Agent for the benefit
of the holders of that Senior Debt, or their respective representatives, ratably according
to the respective amounts of that Senior Debt held or represented by each, to the extent
necessary to make payment as provided herein of all that Senior Debt remaining unpaid after
giving effect to all concurrent payments and distributions and all provisions therefor to or
for the holders of that Senior Debt, but only to the extent that as to any holder of that
Senior Debt, as promptly as practical following notice from the Trustee to the holders of
that Senior Debt that such prohibited payment has been received by the Trustee, Holder(s) or
Paying Agent (or has been segregated as provided above), that holder (or a representative
therefor) notifies the Trustee of the amounts then due and owing on that Senior Debt, if
any, held by that holder, and only the amounts specified in those notices to the Trustee
shall be paid to the holders of that Senior Debt.



     Section 10.4. Subrogation to Rights of Holders of Senior Debt. Subject to the payment in full of all
Senior Debt of the Company as provided herein, the Holders of the Securities of any series and any
related Guarantees shall be subrogated (to the extent of the payments or distributions made to the
holders of that Senior Debt pursuant to the provisions of this Article X) to the rights of
the holders of that Senior Debt to receive payments or distributions of assets of the Company or
the Guarantors, as the case may be, applicable to that Senior Debt until all amounts owing on the
Securities shall be paid in full. For the purpose of that subrogation, no such payments or
distributions to the holders of that Senior Debt by the Company, or by or on behalf of the Holders
of the Securities of such series and any related Guarantees by virtue of this Article X,
which otherwise would have been made to those Holders shall, as among the Company, its creditors
other than the holders of Senior Debt of the Company and those Holders, be deemed to be payment by
the Company or the Guarantors, as the case may be, or on account of that Senior Debt, it being
understood that the provisions of this Article X are and are intended solely for the
purpose of defining the relative rights of the Holders of the Securities of any series and any
related Guarantees, on the one hand, and the holders of that Senior Debt, on the other hand.



     If any payment or distribution to which the Holders of the Securities and any related
Guarantees would otherwise have been entitled but for the provisions of this Article X
shall have been applied, pursuant to the provisions of this Article X, to the payment of
amounts payable under Senior Debt of the Company, then those Holders shall be entitled to receive
from the holders of that Senior Debt any payments or distributions received by those holders of
Senior Debt of the Company in excess of the amount sufficient to pay all amounts payable under or
in respect of that Senior Debt in full.



     Section 10.5. Obligations of the Company and Guarantors Unconditional. Nothing contained in this
Article X or elsewhere in this Indenture or in the Securities is intended to or shall
impair, as between the Company, the Guarantors, as the case may be, and the
Holders of the Securities of any series and any related Guarantees, the obligation of the Company
or the Guarantors, as the case may be, which is absolute and unconditional, to pay to those Holders
the principal of, premium (if any) and interest on and any Additional Amounts with respect to the



56









 







Securities of that series and any related Guarantees as and when the same shall become due and
payable in accordance with their terms, or is intended to or shall affect the relative rights of
those Holders and creditors of the Company or the Guarantors, as the case may be, other than the
holders of Senior Debt of the Company, nor shall anything herein or therein prevent the Trustee or
any Holder from exercising all remedies otherwise permitted by applicable law on default under this
Indenture, subject to the rights, if any, under this Article X, of the holders of Senior
Debt of the Company in respect of cash, property or securities of the Company or the Guarantors, as
the case may be, received on the exercise of any such remedy. Notwithstanding anything to the
contrary in this Article X or elsewhere in this Indenture or in the Securities, on any
distribution of assets of the Company or the Guarantors, as the case may be, referred to in this
Article X, the Trustee, subject to the provisions of Sections 7.1 and 7.2,
and the Holders of the Securities shall be entitled to rely on any order or decree made by any
court of competent jurisdiction in which such dissolution, winding up, liquidation or
reorganization proceedings are pending, or a certificate of the liquidating trustee or agent or
other Person making any distribution to the Trustee or to those Holders for the purpose of
ascertaining the Persons entitled to participate in that distribution, the holders of Senior Debt
of the Company and other Debt of the Company or the Guarantors, as the case may be, the amount
thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts
pertinent thereto or to this Article X so long as that court has been apprised of the
provisions of, or the order, decree or certificate makes reference to, the provisions of this
Article X.



     Section 10.6. Trustee Entitled to Assume Payments Not Prohibited in Absence of Notice. The Trustee shall
not at any time be charged with knowledge of the existence of any facts that would prohibit the
making of any payment to or by the Trustee unless and until a Responsible Officer of the Trustee or
any Paying Agent shall have received, no later than two Business Days prior to that payment,
written notice thereof from the Company or the Guarantors, as the case may be, or from one or more
holders of Senior Debt of the Company or from any representative therefor and, prior to the receipt
of any such written notice, the Trustee, subject to the provisions of Sections 7.1 and 7.2,
shall be entitled in all respects conclusively to assume that no such fact exists.



     Section 10.7. Application by Trustee of Amounts Deposited with It. Amounts deposited in trust with the
Trustee pursuant to and in accordance with Article VIII shall be for the sole benefit of
Holders of the Securities of the series and any related Guarantees for the benefit of which those
amounts were deposited, and, to the extent allocated for the payment of Securities of that series
and any related Guarantees, shall not be subject to the subordination provisions of this
Article X. Otherwise, any deposit of assets with the Trustee or the Paying Agent (whether
or not in trust) for the payment of principal of, premium (if any) or interest on or any Additional
Amounts with respect to any Securities of any series and any related Guarantees shall be subject to
the provisions of Sections 10.1, 10.2, 10.3 and 10.4; provided that if prior to two
Business Days preceding the date on which by the terms of this Indenture any such assets may become
distributable for any purpose (including, without limitation, the payment
of either principal of, premium (if any) or interest on or any Additional Amounts with respect to
any Security and any related Guarantees), the Trustee or such Paying Agent shall not have received
with respect to those assets the written notice provided for in Section 10.6, then the
Trustee or such Paying Agent shall have full power and authority to receive those assets and to
apply the same to the purpose for which they were received, and shall not be affected by any notice
to the contrary that



57









 







may be received by it on or after that date; and provided further that nothing
contained in this Article X shall prevent the Company or the Guarantors, as the case may
be, from making, or the Trustee from receiving or applying, any payment in connection with the
redemption of Securities if the first publication of notice of that redemption (whether by mail or
otherwise in accordance with this Indenture) has been made, and the Trustee has received that
payment from the Company or the Guarantors, as the case may be, prior to the occurrence of any of
the contingencies specified in Section 10.2 or 10.3.



     Section 10.8. Subordination Rights Not Impaired by Acts or Omissions of the Company, the Guarantors or
Holders of Senior Debt. No right of any present or future holders of any Senior Debt of the
Company to enforce the subordination provisions contained in this Article X shall at any
time in any way be prejudiced or impaired by any act or failure to act on the part of the Company
or the Guarantors, as the case may be, or by any act or failure to act, in good faith, by any such
holder, or by any noncompliance by the Company or the Guarantors, as the case may be, with the
terms of this Indenture, regardless of any knowledge thereof that any such holder may have or be
otherwise charged with. The holders of Senior Debt of the Company may extend, renew, modify or
amend the terms of the Senior Debt or any security therefor and release, sell or exchange that
security and otherwise deal freely with the Company or the Guarantors, as the case may be, all
without affecting the liabilities and obligations of the parties to this Indenture or the Holders
of the Securities or the Guarantors, as the case may be.



     Section 10.9. Trustee to Effectuate Subordination of Securities. Each Holder of a Security of any series
and any related Guarantees by his acceptance thereof authorizes and expressly directs the Trustee
on his behalf to take such action as may be necessary or appropriate to effectuate the
subordination provisions contained in this Article X and to protect the rights of the
Holders of the Securities of such series and any related Guarantees pursuant to this Indenture, and
appoints the Trustee his attorney-in-fact for that purpose, including, in the event of any
dissolution, winding up, liquidation or reorganization of the Company or the Guarantors, as the
case may be, (whether in bankruptcy, insolvency or receivership proceedings or upon an assignment
for the benefit of creditors of the Company or the Guarantors, as the case may be), the filing of a
claim for the unpaid balance of his Securities and any related Guarantees in the form required in
said proceedings and cause said claim to be approved. If the Trustee does not file a proper claim
or proof of debt in the form required in that proceeding prior to 30 days before the expiration of
the time to file such claim or claims, then the holders of Senior Debt of the Company or their
representative is hereby authorized to have the right to file and is hereby authorized to file an
appropriate claim for and on behalf of the Holders of said Securities and any related Guarantees.
Nothing herein contained shall be deemed to authorize the Trustee or the holders of Senior Debt of
the Company or their representative to authorize or consent to or accept or adopt on behalf of any
Holder of Securities of any series and
any related Guarantees any plan of reorganization, arrangement, adjustment or composition affecting
the Securities of such series and any related Guarantees or the rights of any Holder thereof, or to
authorize the Trustee or the holders of Senior Debt of the Company or their representative to vote
in respect of the claim of any Holder of the Securities in any such proceeding.



     Section 10.10. Right of Trustee to Hold Senior Debt. The Trustee in its individual capacity shall be
entitled to all of the rights set forth in this Article X in respect of any Senior Debt of
the Company at any time held by it to the same extent as any other holder of Senior Debt



58









 







of the Company, and nothing in this Indenture shall be construed to deprive the Trustee of any of its
rights as such holder.



     Section 10.11. Article X Not to Prevent Events of Default. The failure to make a payment on account of
principal of or premium (if any) or interest on or any Additional Amounts with respect to the
Securities of any series and any related Guarantees by reason of any provision of this Article
X shall not be construed as preventing the occurrence of a Default or an Event of Default under
Section 6.1 with respect to Securities of such series and any related Guarantees or in any
way prevent the Holders of the Securities of any series and any related Guarantees from exercising
any right hereunder other than the right to receive payment on the Securities of any series and any
related Guarantees .



     Section 10.12. No Fiduciary Duty of Trustee to Holders of Senior Debt. The Trustee shall not be deemed to
owe any fiduciary duty to the holders of Senior Debt of the Company, and shall not be liable to any
of those holders (other than for its willful misconduct or gross negligence) if it shall in good
faith mistakenly pay over or distribute to the Holders of the Securities of any series and any
related Guarantees or the Company or the Guarantors, as the case may be, or any other Person, cash,
property or securities to which any holders of Senior Debt of the Company shall be entitled by
virtue of this Article X or otherwise. Nothing in this Section 10.12 shall affect
the obligation of any other such Person to hold that payment for the benefit of, and to pay that
payment over to, the holders of Senior Debt of the Company or their representative.



     Section 10.13. Article Applicable to Paying Agent. In case at any time any Paying Agent other than the
Trustee shall have been appointed by the Company and be then acting hereunder, the term “Trustee”
as used in this Article X shall in that case (unless the context shall otherwise require)
be construed as extending to and including that Paying Agent within its meaning as fully for all
intents and purposes as if that Paying Agent were named in this Article in addition to or in place
of the Trustee; provided, however, that this Section 10.13 shall not apply to the Company,
any Guarantor or any other Subsidiary of the Company if it or that Affiliate acts as Paying Agent.



ARTICLE XI




Securities Guarantee




     Section 11.1. Securities Guarantee. Securities of any series that are to be guaranteed by the Securities
Guarantees of any Guarantors shall be guaranteed by such Guarantors as shall be established
pursuant to Section 2.1 as Guarantors with respect to the Securities of such series. The
Persons who shall initially be the Guarantors of the Securities of any such series may, but need
not, include any or all of the Initial Guarantors and may include any and all such other Persons as
the Company may determine; provided that, prior to the authentication and delivery upon original
issuance of Securities of any series that are to be guaranteed by a Person that is not an Initial
Guarantor, the Company, the Trustee and such Person shall have entered into a supplemental
indenture pursuant to Section 9.1(10) hereof whereby such Person shall have executed a
Securities Guarantee under this Indenture with respect to any series of Securities as to which such
Person has been so established pursuant to Section 2.1 as a Guarantor thereof and shall
have made each of the covenants and agreements of a Guarantor hereunder with respect to



59









 







each such series. By execution and delivery of this Indenture, each Initial Guarantor hereby executes a
Securities Guarantee with respect to any series of Securities as to which such Person has been so
established as a Guarantor thereof pursuant to Section 2.1 and hereby makes each of the
covenants and agreements of a Guarantor hereunder with respect to each such series.



     Securities of any series that are to be guaranteed by the Securities Guarantees of any
Guarantors shall be guaranteed in accordance with the terms of such Securities Guarantees as
established pursuant to Section 2.1 with respect to such series of Securities and such
Securities Guarantees thereof and (except as otherwise specified as contemplated by Section
2.1 for such series of Securities and such Securities Guarantees thereof) in accordance with
this Article X. Notwithstanding any provision of this Article XI to the contrary,
the provisions of this Article XI relating to any Guarantor shall (i) be applicable only
to, and inure solely to the benefit of, the Securities of any series designated, pursuant to
Section 2.1, as entitled to the benefits of the related Securities Guarantee of such
Guarantor with respect to such series and (ii) so be applicable, and inure to the benefit of, the
Securities of such series except to the extent otherwise provided as contemplated by Section
2.1 with respect to the Securities of such series.



     Each Guarantor hereby fully, unconditionally and irrevocably guarantees, as primary obligor
and not merely as surety, jointly and severally with each other Guarantor, to each Holder of the
Securities and the Trustee the full and punctual payment when due, whether at maturity, by
acceleration, by redemption or otherwise, of the principal of, premium, if any, interest and
Additional Amounts, if any, on the Securities and all other monetary Obligations of the Company
under this Indenture. Each Guarantor further agrees (to the extent permitted by law) that the
Obligations may be extended or renewed, in whole or in part, without notice or further assent from
it, and that it will remain bound under this Article XI notwithstanding any extension or
renewal of any Obligation.



     Each Guarantor waives presentation to, demand of payment from and protest to the Company of
any of the Obligations and also waives notice of protest for nonpayment. Each Guarantor waives
notice of any default under the Securities or the Obligations. The obligations of each Guarantor
hereunder shall not be affected by (a) the failure of any Holder to assert any claim or demand or
to enforce any right or remedy against the Company or any other Person under this Indenture, the
Securities or any other agreement or otherwise; (b) any extension or
renewal of any thereof; (c) any rescission, waiver, amendment or modification of any of the
terms or provisions of this Indenture, the Securities or any other agreement; (d) the release of
any Security held by any Holder or the Trustee for the Obligations of any of them; (e) the failure
of any Holder to exercise any right or remedy against any other Guarantor; or (f) any change in the
ownership of the Company.



     Each Guarantor further agrees that its Security Guarantee herein constitutes a Guarantee of
payment when due (and not a Guarantee of collection) and waives any right to require that any
resort be had by any Holder to any Security held for payment of the Obligations.



     Except as expressly set forth in Article VIII and Section 11.3, the
obligations of each Guarantor hereunder shall not be subject to any reduction, limitation,
impairment or termination for any reason (other than payment of the Obligations in full), including
any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any
defense of setoff,



60









 







counterclaim, recoupment or termination whatsoever or by reason of the
invalidity, illegality or unenforceability of the Obligations or otherwise. Without limiting the
generality of the foregoing, the obligations of each Guarantor herein shall not be discharged or
impaired or otherwise affected by the failure of the Trustee or any Holder to assert any claim or
demand or to enforce any remedy under this Indenture, the Securities or any other agreement, by any
waiver or modification of any thereof, by any default, failure or delay, willful or otherwise, in
the performance of the Obligations, or by any other act or thing or omission or delay to do any
other act or thing which may or might in any manner or to any extent vary the risk of any Guarantor
or would otherwise operate as a discharge of such Guarantor as a matter of law or equity.



     Each Guarantor further agrees that its Security Guarantee herein shall continue to be
effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of
principal of or interest or Additional Amounts, if any, on any of the Obligations is rescinded or
must otherwise be restored by any Holder upon the bankruptcy or reorganization of the Company or
otherwise.



     In furtherance of the foregoing and not in limitation of any other right which any Holder has
at law or in equity against any Guarantor by virtue hereof, upon the failure of the Company to pay
any of the Obligations when and as the same shall become due, whether at maturity, by acceleration,
by redemption or otherwise, each Guarantor hereby promises to and will, upon receipt of written
demand by the Trustee, forthwith pay, or cause to be paid, in cash, to the Holders an amount equal
to the sum of (i) the unpaid amount of such Obligations then due and owing and (ii) accrued and
unpaid interest on such Obligations then due and owing (but only to the extent not prohibited by
law) and except as provided in Section 11.3.



     Each Guarantor further agrees that, as between such Guarantor, on the one hand, and the
Holders, on the other hand, (x) the maturity of the Obligations Guaranteed hereby may be
accelerated as provided in this Indenture for the purposes of its Security Guarantee herein,
notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect
of the Obligations Guaranteed hereby and (y) in the event of any such declaration of acceleration
of such Obligations, such Obligations (whether or not due and payable) shall forthwith become due
and payable by the Guarantor for the purposes of this Security Guarantee.



     Each Guarantor also agrees to pay any and all reasonable costs and expenses (including
reasonable attorneys’ fees) incurred by the Trustee or the Holders in enforcing any rights under
this Section 11.1.



     Section 11.2. Execution and Delivery of Securities Guarantees; Notations of Guarantees. The Securities
Guarantee of each Guarantor with respect to Securities of any series as to which such Guarantor has
been established as a Guarantor pursuant to Section 2.1 shall be fully evidenced by such
Grantor’s execution and delivery of this Indenture or any supplemental indenture hereto. Anything
herein to the contrary notwithstanding, there shall be no requirement that any Security having the
benefit of a Securities Guarantee have endorsed thereon or attached thereto such Securities
Guarantee or a notation of such Securities Guarantee. Solely with respect to Securities of any
series that are entitled to the benefits of any Securities Guarantee of any Guarantor and as to
which Notations of Guarantee are to be included on such Securities as designated pursuant to
Section 2.1(9), to further evidence its Securities Guarantee set forth in



61









 







Section 10.1 or otherwise established pursuant hereto with respect to Securities of such series, each
of the Guarantors with respect to Securities of any series hereby agrees that a notation relating
to such Securities Guarantee (the “Notation of Guarantee”), substantially in the form
attached hereto as Annex A, shall be endorsed on each Security of such series entitled to the
benefits of such Securities Guarantee authenticated and delivered by the Trustee, which Notation of
Guarantee shall be executed by either manual or facsimile signature of an Officer of such
Guarantor. Each of the Guarantors with respect to Securities of any series hereby agrees that its
Securities Guarantee set forth in Section 11.1 or otherwise established pursuant hereto
with respect to Securities of such series shall remain in full force and effect notwithstanding any
absence of Notations of Guarantees as to such series or any failure to endorse on any Security the
Notation of Guarantee relating to such Securities Guarantee. If any Officer of any Guarantor with
respect to Securities of any series, whose signature is on this Indenture or the Notation of
Guarantee on any Security of such series no longer holds that office at the time the Trustee
authenticates any Security or at any time thereafter, the Securities Guarantee of such Security
shall be valid nevertheless. The delivery of any Security of a series entitled to the benefits of a
Securities Guarantee under this Article XI or otherwise established pursuant hereto by the
Trustee, after the authentication thereof hereunder, shall constitute due delivery of such
Securities Guarantee on behalf of each Guarantor.



     Section 11.3. Limitation on Liability; Termination, Release and Discharge.




     (a) The obligations of each Guarantor hereunder will be limited to the maximum amount
as will, after giving effect to all other contingent and fixed liabilities of such Guarantor
and after giving effect to any collections from or payments made by or on behalf of any
other Guarantor in respect of the obligations of such other Guarantor under its Security
Guarantee or pursuant to its contribution obligations under this Indenture, result in the
obligations of such Guarantor under its Security Guarantee not constituting a fraudulent
conveyance or fraudulent transfer under federal or state law.




     (b) The Security Guarantee of a Guarantor will be deemed released and the Guarantor
will be relieved of its obligations under this Indenture and its Security Guarantee without
any further action required on the part of the Company or such Guarantor:




     (1) in connection with any sale or other disposition of all or substantially
all of the assets of that Guarantor (including by way of merger. amalgamation or
consolidation) to a Person that is not (either before or after giving effect to such
transaction) the Company or a Subsidiary of the Company, if the sale or other
disposition complies with this Indenture;




     (2) in connection with any sale or other disposition of all of the Capital
Stock of that Guarantor to a Person that is not (either before or after giving
effect to such transaction) the Company or a Subsidiary of the Company, if the sale
or other disposition complies with this Indenture;



62









 






     (3) upon Legal Defeasance or Covenant Defeasance as provided in Article
VIII or upon satisfaction and discharge of this Indenture as provided in
Article XII;




     (4) upon the liquidation or dissolution of such Guarantor provided no Default
or Event of Default has occurred or is continuing; or




     (5) upon such Guarantor consolidating or amalgamating with, merging into or
transferring all of its properties or assets to the Company or another Guarantor,
and as a result of, or in connection with, such transaction such Guarantor
dissolving or otherwise ceasing to exist.



     Section 11.4. Limitation of Guarantors’ Liability. Each Guarantor, and by its acceptance hereof each
Holder, hereby confirms that it is the intention of all such parties that the Guarantee by such
Guarantor pursuant to its Security Guarantee not constitute a fraudulent transfer or conveyance for
purposes of the Federal Bankruptcy Code, the Uniform Fraudulent Conveyance Act, the Uniform
Fraudulent Transfer Act or any similar federal or state law. To effectuate the foregoing
intention, the Holders and each Guarantor hereby irrevocably agree that the obligations of such
Guarantor under its Security Guarantee will be limited to the maximum amount as will, after giving
effect to all other contingent and fixed liabilities of such Guarantor and after giving effect to
any collections from or payments made by or on behalf of any other Guarantor in respect of the
obligations of such other Guarantor under its Security Guarantee or pursuant to Section
11.5 hereof, result in the obligations of such Guarantor under its Security Guarantee not
constituting such a fraudulent conveyance or fraudulent transfer. This Section 11.4 is for
the benefit of the creditors of each Guarantor.



     Section 11.5. Contribution. In order to provide for just and equitable contribution among the
Guarantors, the Guarantors agree that in the event any payment or distribution is made by any
Guarantor (a “Funding 
Guarantor”) under its Security Guarantee, such Funding Guarantor will be entitled to a
contribution from each other Guarantor (if any) in a pro rata amount based on the Adjusted Net
Assets of each Guarantor (including the Funding Guarantor) for all payments, damages and expenses
incurred by that Funding Guarantor in discharging the Company’s obligations with respect to the
Securities or any other Guarantor’s obligations with respect to its Security Guarantee.



ARTICLE XII




Satisfaction and Discharge




     Section 12.1. Satisfaction and Discharge. This Indenture will be discharged and will cease to be of
further effect as to all Securities of any series issued hereunder (except as to surviving rights
of registration of transfer or exchange of such Securities and as otherwise specified hereunder),
when:




     (1) either:




     (a) all Securities of such series that have been authenticated, except
lost, stolen or destroyed Securities that have been replaced or paid



63









 







and Securities of such series 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 Securities of such series that have not been delivered to the
Trustee for cancellation have become due and payable or will become due and
payable within one year by reason of the mailing of a notice of redemption
or otherwise and the Company or any 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 Securities of such series, cash in U.S.
dollars, non-callable Government Securities, or a combination of cash in
U.S. dollars and non-callable Government Securities, in amounts as will be
sufficient without consideration of any reinvestment of interest, to pay and
discharge the entire indebtedness on such Securities not delivered to the
Trustee for cancellation for principal, premium, if any, and accrued
interest and Additional Amounts, if any, to the date of maturity or
redemption;




     (2) no Default or Event of Default with respect to such series has occurred and
is continuing on the date of the deposit (other than a Default or Event of Default
resulting from the borrowing of funds to be applied to such deposit) and the deposit
will not result in a breach or violation of, or constitute a default under, any
other instrument to which the Company or any of its Subsidiaries is a party or by
which the Company or any of its Subsidiaries is bound;




     (3) the Company or any Guarantor has paid or caused to be paid all sums payable
by it hereunder with respect to such series;




     (4) the Company has delivered irrevocable instructions to the Trustee hereunder
to apply the deposited money toward the payment of such Securities at fixed maturity
or the Redemption Date, as the case may be; and




     (5) the Company has delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, which state that all conditions precedent under this Indenture
relating to the satisfaction and discharge of this Indenture with respect to such
series have been satisfied.



ARTICLE XIII




Miscellaneous




     Section 13.1. Trust Indenture Act Controls. If any provision of this Indenture limits, qualifies or
conflicts with another provision which is required to be included in this Indenture by the TIA, the
provision required by the TIA shall control. Each Guarantor in addition to performing its
obligations under its Security Guarantee shall perform such other obligations as may be imposed
upon it with respect to this Indenture under the TIA.



64









 





     Section 13.2. Notices. Any notice or communication shall be in writing and delivered in person, by
telecopier or overnight air courier guaranteeing next day delivery or mailed by first-class mail
addressed as follows:


if to the Company or the Guarantors:



Mariner Energy, Inc.

One BriarLake Plaza, Suite 2000

2000 West Sam Houston Parkway South,

Houston, Texas 77042

Attention: General Counsel



if to the Trustee:




__________________

__________________

__________________

__________________




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



     Any notice or communication mailed to a registered Holder shall be mailed to the Holder at the
Holder’s address as it appears on the registration books of the Registrar and shall be sufficiently
given if so mailed within the time prescribed. The Registrar shall provide the Company with
address information with respect to the Holders as promptly as practicable following the Company’s
request therefor. Any notice or communication shall also be mailed to any Person described in TIA
§ 3.13(c), to the extent required by the TIA.



     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, it is duly given, whether or not the addressee receives it.



     Section 13.3. Communication by Holders with other Holders. Holders may communicate pursuant to TIA §
312(b) with other Holders with respect to their rights under this Indenture or the Securities. The
Company, the Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c).



     Section 13.4. Certificate and Opinion as to Conditions Precedent. Upon any request or application by the
Company to the Trustee to take or refrain from taking any action under this Indenture, the Company
shall furnish to the Trustee:




     (1) an Officers’ Certificate in form and substance reasonably satisfactory to
the Trustee stating that, in the opinion of the signers, all conditions precedent,
if any, provided for in this Indenture relating to the proposed action have been
complied with; and



65









 






     (2) an Opinion of Counsel in form and substance reasonably satisfactory to the
Trustee stating that, in the opinion of such counsel, all such conditions precedent
have been complied with.



     In any case where several matters are required to be certified by, or covered by an opinion
of, any specified Person, it is not necessary that all such matters be certified by, or covered by
the opinion of, only one such Person, or that they be so certified or covered by only one document,
but one such Person may certify or give an opinion as to such matters in one or several documents.



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



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



     Section 13.5. Statements Required in Certificate or Opinion. Each certificate or opinion with respect to
compliance with a covenant or condition provided for in this Indenture (except for the Certificate
specified in Section 3.5) shall include:




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




     (2) a brief statement as to the nature and scope of the examination or
investigation upon which the statements or opinions contained in such certificate or
opinion are based;




     (3) a statement that, in the opinion of such individual, he has made such
examination or investigation as is necessary to enable him to express an informed
opinion as to whether or not such covenant or condition has been complied with; and




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



     Section 13.6. When Securities Disregarded. In determining whether the Holders of the required principal
amount of Securities of any series have concurred in any direction, waiver or consent, Securities
owned by the Company or by any Person directly or indirectly controlling or controlled by or under
direct or indirect common control with the Company shall be disregarded



66









 







and deemed not to be
outstanding, except that, for the purpose of determining whether the Trustee shall be protected in
relying on any such direction, waiver or consent, only Securities which the Trustee knows are so
owned shall be so disregarded. Also, subject to the foregoing, only Securities outstanding at the
time shall be considered in any such determination.



     Section 13.7. Rules by Trustee, Paying Agent and Registrar. The Trustee may make reasonable rules for
action by, or a meeting of, Holders. The Registrar and the Paying Agent may make reasonable rules
for their functions.



     Section 13.8. Legal Holidays. A “Legal Holiday” is a Saturday, a Sunday or other day on which
commercial banking institutions are authorized or required to be closed in New York, New York. If
a payment date is a Legal Holiday, payment shall be made on the next succeeding day that is not a
Legal Holiday, and no interest shall accrue for the intervening period. If a regular record date
is a Legal Holiday, the record date shall not be affected.



     Section 13.9. GOVERNING LAW. THIS INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.



     Section 13.10. No Recourse Against Others. No director, manager, officer, employee, incorporator, member,
partner, stockholder or other owner of Capital Stock of the Company or any Guarantor, as such, will
have any liability for any obligations of the Company or any Guarantor under the Securities, this
Indenture or the Security Guarantees or for any claim based on, in respect of, or by reason of such
obligations or their creation. Each Holder of Securities by accepting a Security waives and
releases all such liability. The waiver and release are part of the consideration for issuance of
the Securities.



     Section 13.11. Successors. All agreements of the Company in this Indenture and the Securities shall bind
its successors. All agreements of the Trustee in this Indenture shall bind its successors.



     Section 13.12. Multiple 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. One
signed copy is enough to prove this Indenture.



     Section 13.13. Severability. In case any provision in this Indenture or in the Securities shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby.



     Section 13.14. 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 any Subsidiary or any other Person.
Any such indenture, loan or debt agreement may not be used to interpret this Indenture or the
Security Guarantees.



     Section 13.15. Table of Contents; Headings. The table of contents, cross-reference sheet and headings of
the Articles and Sections of this Indenture have been inserted for convenience of reference only,
are not intended to be considered a part hereof and shall not modify or restrict any of the terms
or provisions hereof.



67









 





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



	 	 	 	 	 
	 	MARINER ENERGY, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[SECURITIES GUARANTORS]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[      
         
             ], as
Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 




68









 








ANNEX A




NOTATION OF GUARANTEE





     Each of the Guarantors (which term includes any successor Person under the Indenture) has
fully, unconditionally and absolutely guaranteed, to the extent set forth in the Indenture and
subject to the provisions in the Indenture, the due and punctual payment of the principal of, and
premium, if any, and interest on the Securities and all other amounts due and payable under the
Indenture and the Securities by the Company.



     The obligations of the Guarantors to the Holders of Securities and to the Trustee pursuant to
the Securities Guarantee and the Indenture are expressly set forth in Article XI of the
Indenture and reference is hereby made to the Indenture for the precise terms of the Securities
Guarantee.



	 	 	 	 	 
	 	[NAME OF GUARANTOR]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title: