exv4w8






Exhibit 4.8




ARIAD PHARMACEUTICALS, INC.




Issuer




AND




[ ] Trustee




INDENTURE




Dated as of [ ]




Subordinated Debt Securities







 









 








CROSS-REFERENCE TABLE (1)




	 	 	 	 
	Section of	 	 	
	Trust Indenture Act	 	Section of
	of 1939, as Amended	 	Indenture
	310(a)
	 	 	7.09
	310(b)
	 	 	7.08
	 
	 	 	7.10
	310(c)
	 	Inapplicable
	311(a)
	 	 	7.13(a)
	311(b)
	 	 	7.13(b)
	311(c)
	 	Inapplicable
	312(a)
	 	 	5.02(a)
	312(b)
	 	 	5.02(b)
	312(c)
	 	 	5.02(c)
	313(a)
	 	 	5.04(a)
	313(b)
	 	 	5.04(a)
	313(c)
	 	 	5.04(a)
	 
	 	 	5.04(b)
	313(d)
	 	 	5.04(b)
	314(a)
	 	 	5.03
	314(b)
	 	Inapplicable
	314(c)
	 	 	13.06
	314(d)
	 	Inapplicable
	314(e)
	 	 	13.06
	314(f)
	 	Inapplicable
	315(a)
	 	 	7.01(a)
	 
	 	 	7.02
	315(b)
	 	 	6.07
	315(c)
	 	 	7.01
	315(d)
	 	 	7.01(b)
	 
	 	 	7.01(c)
	315(e)
	 	 	6.07
	316(a)
	 	 	6.06
	 
	 	 	8.04
	316(b)
	 	 	6.04
	316(c)
	 	 	8.01
	317(a)
	 	 	6.02
	317(b)
	 	 	4.03
	318(a)
	 	 	13.08








 




			
	(1)	 	This Cross-Reference Table does not constitute part of the Indenture and shall not have any
bearing on the interpretation of any of its terms or provisions.





(i)





 









 








TABLE OF CONTENTS (2)




	 	 	 	 	 
	 	 	Page
	ARTICLE I  DEFINITIONS
	 	 	1	 
	 
	 	 	 	 
	SECTION 1.01  Definitions of Terms
	 	 	1	 
	 
	 	 	 	 
	ARTICLE II  ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES
	 	 	5	 
	 
	 	 	 	 
	SECTION 2.01  Designation and Terms of Securities
	 	 	5	 
	SECTION 2.02  Form of Securities and Trustee’s Certificate
	 	 	7	 
	SECTION 2.03  Denominations: Provisions for Payment
	 	 	7	 
	SECTION 2.04  Execution and Authentications
	 	 	9	 
	SECTION 2.05   Registration of Transfer and Exchange
	 	 	10	 
	SECTION 2.06  Temporary Securities
	 	 	11	 
	SECTION 2.07   Mutilated, Destroyed, Lost or Stolen Securities
	 	 	11	 
	SECTION 2.08  Cancellation
	 	 	12	 
	SECTION 2.09  Benefits of Indenture
	 	 	12	 
	SECTION 2.10   Authenticating Agent
	 	 	13	 
	SECTION 2.11   Global Securities
	 	 	13	 
	 
	 	 	 	 
	ARTICLE III   REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS
	 	 	14	 
	 
	 	 	 	 
	SECTION 3.01   Redemption
	 	 	14	 
	SECTION 3.02  Notice of Redemption
	 	 	14	 
	SECTION 3.03  Payment Upon Redemption
	 	 	16	 
	SECTION 3.04  Sinking Fund
	 	 	16	 
	SECTION 3.05   Satisfaction of Sinking Fund Payments with Securities
	 	 	17	 
	SECTION 3.06  Redemption of Securities for Sinking Fund
	 	 	17	 
	 
	 	 	 	 
	ARTICLE IV  COVENANTS
	 	 	17	 
	 
	 	 	 	 
	SECTION 4.01  Payment of Principal, Premium and Interest
	 	 	17	 
	SECTION 4.02  Maintenance of Office or Agency
	 	 	17	 
	SECTION 4.03  Paying Agents
	 	 	18	 
	SECTION 4.04  Appointment to Fill Vacancy in Office of Trustee
	 	 	19	 
	SECTION 4.05  Compliance with Consolidation Provisions
	 	 	19	 
	 
	 	 	 	 
	ARTICLE V   SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE
	 	 	19	 
	 
	 	 	 	 
	SECTION 5.01   Company to Furnish Trustee Names and Addresses of Securityholders
	 	 	19	 
	SECTION 5.02  Preservation Of Information; Communications With Securityholders
	 	 	19	 
	SECTION 5.03  Reports by the Company
	 	 	20	 
	SECTION 5.04  Reports by the Trustee
	 	 	20	 
	 
	 	 	 	 
	ARTICLE VI  REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT
	 	 	21	 
	 
	 	 	 	 
	SECTION 6.01  Events of Default
	 	 	21	 
	 
	 	 	 	 





(ii)



 









 






	 	 	 	 	 
	 	 	Page
	SECTION 6.02   Collection of Indebtedness and Suits for Enforcement by Trustee
	 	 	23	 
	SECTION 6.03  Application of Moneys Collected
	 	 	24	 
	SECTION 6.04   Limitation on Suits
	 	 	25	 
	SECTION 6.05  Rights and Remedies Cumulative; Delay or Omission Not Waiver
	 	 	26	 
	SECTION 6.06   Control by Securityholders
	 	 	26	 
	SECTION 6.07  Undertaking to Pay Costs
	 	 	27	 
	 
	 	 	 	 
	ARTICLE VII   CONCERNING THE TRUSTEE
	 	 	27	 
	 
	 	 	 	 
	SECTION 7.01  Certain Duties and Responsibilities of Trustee
	 	 	27	 
	SECTION 7.02  Certain Rights of Trustee
	 	 	29	 
	SECTION 7.03  Trustee Not Responsible for Recitals or Issuance of Securities
	 	 	30	 
	SECTION 7.04  May Hold Securities
	 	 	30	 
	SECTION 7.05   Moneys Held in Trust
	 	 	30	 
	SECTION 7.06  Compensation and Reimbursement
	 	 	30	 
	SECTION 7.07   Reliance on Officers’ Certificate
	 	 	31	 
	SECTION 7.08  Disqualification; Conflicting Interests
	 	 	31	 
	SECTION 7.09  Corporate Trustee Required; Eligibility
	 	 	31	 
	SECTION 7.10  Resignation and Removal; Appointment of Successor
	 	 	32	 
	SECTION 7.11   Acceptance of Appointment By Successor
	 	 	33	 
	SECTION 7.12  Merger, Conversion, Consolidation or Succession to Business
	 	 	35	 
	SECTION 7.13   Preferential Collection of Claims Against the Company
	 	 	35	 
	 
	 	 	 	 
	ARTICLE VIII   CONCERNING THE SECURITYHOLDERS
	 	 	35	 
	 
	 	 	 	 
	SECTION 8.01   Evidence of Action by Securityholders
	 	 	35	 
	SECTION 8.02   Proof of Execution by Securityholders
	 	 	36	 
	SECTION 8.03   Who May be Deemed Owners
	 	 	36	 
	SECTION 8.04   Certain Securities Owned by Company Disregarded
	 	 	36	 
	SECTION 8.05   Actions Binding on Future Securityholders
	 	 	37	 
	SECTION 8.06  Purposes for Which Meetings May Be Called
	 	 	37	 
	SECTION 8.07   Call Notice and Place of Meetings
	 	 	37	 
	SECTION 8.08  Persons Entitled To Vote at Meetings
	 	 	38	 
	SECTION 8.09  Quorum; Action
	 	 	38	 
	SECTION 8.10   Determination of Voting Rights; Conduct and Adjournment
of Meetings
	 	 	38	 
	SECTION 8.11   Counting Votes and Recording Action of Meetings
	 	 	39	 
	 
	 	 	 	 
	ARTICLE IX   SUPPLEMENTAL INDENTURES
	 	 	40	 
	 
	 	 	 	 
	SECTION 9.01  Supplemental Indentures Without the Consent of Securityholders
	 	 	40	 
	SECTION 9.02  Supplemental Indentures With Consent of Securityholders
	 	 	41	 
	SECTION 9.03   Effect of Supplemental Indentures
	 	 	41	 
	SECTION 9.04   Securities Affected by Supplemental Indentures
	 	 	42	 
	SECTION 9.05  Execution of Supplemental Indentures
	 	 	42	 
	 
	 	 	 	 
	ARTICLE X   SUCCESSOR ENTITY
	 	 	42	 
	 
	 	 	 	 
	SECTION
10.01   Company May Consolidate, Etc.
	 	 	42	 
	SECTION 10.02   Successor Entity Substituted
	 	 	43	 
	SECTION 10.03  Evidence of Consolidation, Etc. to Trustee
	 	 	43	 





(iii)



 









 






	 	 	 	 	 
	 	 	Page
	ARTICLE XI   SATISFACTION AND DISCHARGE
	 	 	44	 
	 
	 	 	 	 
	SECTION 11.01   Satisfaction and Discharge of Indenture
	 	 	44	 
	SECTION 11.02  Discharge of Obligations
	 	 	44	 
	SECTION 11.03   Deposited Moneys to be Held in Trust
	 	 	45	 
	SECTION 11.04  Payment of Moneys Held by Paying Agents
	 	 	45	 
	SECTION 11.05  Repayment to Company
	 	 	45	 
	 
	 	 	 	 
	ARTICLE XII  IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS
	 	 	45	 
	 
	 	 	 	 
	SECTION 12.01   No Recourse
	 	 	45	 
	 
	 	 	 	 
	ARTICLE XIII   MISCELLANEOUS PROVISIONS
	 	 	46	 
	 
	 	 	 	 
	SECTION 13.01  Effect on Successors and Assigns
	 	 	46	 
	SECTION 13.02   Actions by Successor
	 	 	46	 
	SECTION 13.03   Surrender of Company Powers
	 	 	46	 
	SECTION 13.04   Notices
	 	 	46	 
	SECTION 13.05   Governing Law
	 	 	47	 
	SECTION 13.06  Treatment of Securities as Debt
	 	 	47	 
	SECTION 13.07  Compliance Certificates and Opinions
	 	 	47	 
	SECTION 13.08  Payments on Business Days
	 	 	47	 
	SECTION 13.09  Conflict with Trust Indenture Act
	 	 	48	 
	SECTION 13.10  Counterparts
	 	 	48	 
	SECTION 13.11  Separability
	 	 	48	 
	SECTION 13.12   Assignment
	 	 	48	 
	 
	 	 	 	 
	ARTICLE XIV  SUBORDINATION OF SECURITIES
	 	 	48	 
	 
	 	 	 	 
	SECTION 14.01   Subordination Terms
	 	 	48	 








 




			
	(2)	 	This Table of Contents does not constitute part of the Indenture and shall not have any bearing
on the interpretation of any of its terms or provisions.




(iv)




 









 








     INDENTURE, dated as of [ ], by and between ARIAD Pharmaceuticals, Inc., a Delaware corporation
(the “Company”), and [ ], as trustee (the “Trustee”):



     WHEREAS, for its lawful corporate purposes, the Company has duly authorized the execution and
delivery of this Indenture to provide for the issuance of subordinated debt securities (hereinafter
referred to as the “Securities”), in an unlimited aggregate principal amount to be issued from time
to time in one or more series as in this Indenture provided, as registered Securities without
coupons, to be authenticated by the certificate of the Trustee;



     WHEREAS, to provide the terms and conditions upon which the Securities are to be
authenticated, issued and delivered, the Company has duly authorized the execution of this
Indenture; and



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



     NOW, THEREFORE, in consideration of the premises and the purchase of the Securities by the
holders thereof, it is mutually covenanted and agreed as follows for the equal and ratable benefit
of the holders of Securities:



ARTICLE I




DEFINITIONS



SECTION 1.01 Definitions of Terms.




     The terms defined in this Section (except as in this Indenture otherwise expressly provided or
unless the context otherwise requires) for all purposes of this Indenture and of any indenture
supplemental hereto shall have the respective meanings specified in this Section and shall include
the plural as well as the singular. All other terms used in this Indenture that are defined in the
Trust Indenture Act of 1939, as amended, or that are by reference in such Act defined in the
Securities Act of 1933, as amended (except as herein otherwise expressly provided or unless the
context otherwise requires), shall have the meanings assigned to such terms in said Trust Indenture
Act and in said Securities Act as in force at the date of the execution of this instrument.



     “Authenticating Agent” means an authenticating agent with respect to all or any of the series
of Securities appointed with respect to all or any series of the Securities by the Trustee pursuant
to Section 2.10.



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



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



 









 





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



     “Business Day” means, with respect to any series of Securities, any day other than a day on
which Federal or State banking institutions in the Borough of Manhattan, the City and State of New
York, are authorized or obligated by law, executive order or regulation to close.



     “Certificate” means a certificate signed by the principal executive officer, the principal
financial officer or the principal accounting officer of the Company. The Certificate need not
comply with the provisions of Section 13.07.



     “Commission” means the Securities and Exchange Commission.



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



     “Corporate Trust Office” means the office of the Trustee at which, at any particular time, its
corporate trust business shall be principally administered, which office at the date hereof is
located at [ ], except that whenever a provision herein refers to an office or agency of the
Trustee in the Borough of Manhattan, the City and State of New York, such office is located, at the
date hereof, at [ ].



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



     “Default” means an event which is, or after notice or lapse of time, or both, would constitute
an Event of Default.



     “Depositary” means, with respect to Securities of any series, for which the Company shall
determine that such Securities will be issued as a Global Security, The Depository Trust Company,
New York, New York, another clearing agency, or any successor registered as a clearing agency under
the Exchange Act, or other applicable statute or regulation, which, in each case, shall be
designated by the Company pursuant to either Section 2.01 or Section 2.11.



     “Event of Default” means, with respect to Securities of a particular series, any event
specified in Section 6.01, continued for the period of time, if any, therein designated.



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



     “Global Security” means, with respect to any series of Securities, a Security executed by the
Company and delivered by the Trustee to the Depositary or pursuant to the Depositary’s instruction,
all in accordance with this Indenture, which shall be registered in the name of the Depositary or
its nominee.



     “Governmental Obligations” means securities that are (i) direct obligations of the United
States of America for the payment of which its full faith and credit is pledged or (ii) obligations



2









 





of a Person controlled or supervised by and acting as an agency or instrumentality of the United
States of America, the payment of which is unconditionally guaranteed as a full faith and credit
obligation by the United States of America that, in either case, are non-callable at the option of
the issuer thereof, and shall also include a depositary receipt issued by a bank (as defined in
Section 3(a)(2) of the Securities Act of 1933, as amended) as custodian with respect to any such
Governmental Obligation or a specific payment of principal of or interest on any such Governmental
Obligation held by such custodian for the account of the holder of such depositary receipt;
provided, however, that (except as required by law) such custodian is not authorized to make any
deduction from the amount payable to the holder of such depositary receipt from any amount received
by the custodian in respect of the Governmental Obligation or the specific payment of principal of
or interest on the Governmental Obligation evidenced by such depositary receipt.




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



     “Indenture” means this instrument as originally executed or as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered into in accordance
with the terms hereof.



     “Interest Payment Date,” when used with respect to any installment of interest on a Security
of a particular series, means the date specified in such Security or in a Board Resolution or in an
indenture supplemental hereto with respect to such series as the fixed date on which an installment
of interest with respect to Securities of that series is due and payable.



     “Officers’ Certificate” means a certificate signed by the President or a Vice President and by
the Chief Financial Officer, the Treasurer or an Assistant Treasurer or the Controller or an
Assistant Controller or the Secretary or an Assistant Secretary of the Company that is delivered to
the Trustee in accordance with the terms hereof. Certificate shall include the statements provided
for in Section 13.07, if and to the extent required by the provisions thereof.



     “Opinion of Counsel” means a written opinion of counsel, who may be counsel to the Company
(and may include directors or employees of the Company) and which opinion is acceptable to the
Trustee which acceptance shall not be unreasonably withheld.



     “Outstanding”, when used with reference to Securities of any series, means, subject to the
provisions of Section 8.04, as of any particular time, all Securities of that series theretofore
authenticated and delivered by the Trustee under this Indenture, except (a) Securities theretofore
canceled by the Trustee or any paying agent, or delivered to the Trustee or any paying agent for
cancellation or that have previously been canceled; (b) Securities or portions thereof for the
payment or redemption of which moneys or Governmental Obligations in the necessary amount shall
have been deposited in trust with the Trustee or with any paying agent (other than the Company) or
shall have been set aside and segregated in trust by the Company (if the Company shall act as its
own paying agent); provided, however, that if such Securities or portions of such Securities are to
be redeemed prior to the maturity thereof, notice of such redemption shall have been given as in
Article III provided, or provision satisfactory to the Trustee shall have been



3









 





made for giving such notice; and (c) Securities in lieu of or in substitution for which other
Securities shall have been authenticated and delivered pursuant to the terms of Section 2.07.




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



     “Predecessor Security” of any particular Security means every previous Security evidencing all
or a portion of the same debt as that evidenced by such particular Security; and, for the purposes
of this definition, any Security authenticated and delivered under Section 2.07 in lieu of a
mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same debt as the
mutilated, destroyed, lost or stolen Security.



     “Responsible Officer,” when used with respect to the Trustee, means any officer of the
Trustee, including any vice president, assistant vice president, secretary, assistant secretary,
the treasurer, any assistant treasurer, the managing director or any other officer of the Trustee
customarily performing functions similar to those performed by any of the above designated officers
and also means, with respect to a particular corporate trust matter, any other officer to whom such
matter is referred because of such officer’s knowledge of and familiarity with the particular
subject.



     “Securities” means the debt Securities authenticated and delivered under this Indenture.



     “Security Register” has the meaning specified in Section 2.05.



     “Security Registrar” has the meaning specified in Section 2.05.



     “Securityholder,” “holder of Securities,” “registered holder,” or other similar term, means
the Person or Persons in whose name or names a particular Security shall be registered in the
Security Register.



     “Subsidiary” means, with respect to any Person, (i) any corporation at least a majority of
whose outstanding Voting Stock shall at the time be owned, directly or indirectly, by such Person
or by one or more of its Subsidiaries or by such Person and one or more of its Subsidiaries, (ii)
any general partnership, joint venture or similar entity, at least a majority of whose outstanding
partnership or similar interests shall at the time be owned by such Person, or by one or more of
its Subsidiaries, or by such Person and one or more of its Subsidiaries and (iii) any limited
partnership of which such Person or any of its Subsidiaries is a general partner.



     “Trustee” means the Person named as the “Trustee” in the first paragraph of this instrument
until a successor Trustee shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Trustee” shall mean such successor Trustee. The term “Trustee” as used
with respect to a particular series of the Securities shall mean the trustee with respect to that
series.



     “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, subject to the
provisions of Sections 9.01, 9.02, and 10.01, as in effect at the date of execution of this
instrument; provided, however, that in the event the Trust Indenture Act is amended after such



4









 





date, Trust Indenture Act means, to the extent required by such amendment, the Trust Indenture Act
of 1939, as so amended, or any successor statute.




     “Voting Stock,” as applied to any Person, means shares, interests, participations or other
equivalents in the equity interest (however designated) in such Person having ordinary voting power
for the election of a majority of the directors (or the equivalent) of such Person, other than
shares, interests, participations or other equivalents having such power only by reason of the
occurrence of a contingency.



ARTICLE II




ISSUE, DESCRIPTION, TERMS, EXECUTION,

REGISTRATION AND EXCHANGE OF SECURITIES



SECTION 2.01 Designation and Terms of Securities.





	 	(a)	 	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 up to the aggregate principal amount of Securities of that series from time
to time authorized by or pursuant to a Board Resolution of the Company or pursuant to
one or more indentures supplemental hereto. Prior to the initial issuance of Securities
of a given series, there shall be established in or pursuant to a Board Resolution of
the Company, and set forth in an Officers’ Certificate of the Company, or established
in one or more indentures supplemental hereto:






	 	(1)	 	the title of the Security of the series (which shall
distinguish the Securities of the series from all other Securities);
	 
	 	(2)	 	the aggregate principal amount of the Securities of such series
initially to be issued and any limit upon the aggregate principal amount of the
Securities of that series that may be authenticated and delivered under this
Indenture (except for Securities authenticated and delivered upon registration
of transfer of, or in exchange for, or in lieu of, other Securities of that
series);
	 
	 	(3)	 	the currency or units based on or relating to currencies in
which debt securities of such series are denominated and the currency or units
in which principal or interest or both will or may be payable;
	 
	 	(4)	 	the date or dates on which the principal of the Securities of
the series is payable and the place(s) of payment;
	 
	 	(5)	 	the rate or rates at which the Securities of the series shall
bear interest or the manner of calculation of such rate or rates, if any;
	 
	 	(6)	 	the date or dates from which such interest shall accrue, the
Interest Payment Dates on which such interest will be payable or the manner of
determination of such Interest Payment Dates, the place(s) of payment,




5









 












	 	 	 	and the record date for the determination of holders to whom interest is
payable on any such Interest Payment Dates or the method for determining
such dates;
	 
	 	(7)	 	the right, if any, to extend the interest payment periods or to
defer the payment of interest and the duration of such extension;
	 
	 	(8)	 	the period or periods within which, the price or prices at
which and the terms and conditions upon which, Securities of the series may be
redeemed, in whole or in part, at the option of the Company;
	 
	 	(9)	 	the obligation, if any, of the Company to redeem or purchase
Securities of the series pursuant to any sinking fund or analogous provisions
(including payments made in cash in satisfaction of future sinking fund
obligations) or at the option of a holder thereof and the period or periods
within which, the price or prices at which, and the terms and conditions upon
which, Securities of the series shall be redeemed or purchased, in whole or in
part, pursuant to such obligation;
	 
	 	(10)	 	whether or not the debt securities will be secured or
unsecured, and the terms of any secured debt;
	 
	 	(11)	 	the form of the Securities of the series including the form of
the Certificate of Authentication for such series;
	 
	 	(12)	 	if other than denominations of one thousand U.S. dollars
($1,000) or any integral multiple thereof, the denominations in which the
Securities of the series shall be issuable;
	 
	 	(13)	 	any and all other terms with respect to such series (which
terms shall not be inconsistent with the terms of this Indenture, as amended by
any supplemental indenture) including any terms which may be required by or
advisable under United States laws or regulations or advisable in connection
with the marketing of Securities of that series;
	 
	 	(14)	 	whether the Securities are issuable as a Global Security and,
in such case, the identity of the Depositary for such series;
	 
	 	(15)	 	whether the Securities will be convertible into shares of
common stock or other securities of the Company and, if so, the terms and
conditions upon which such Securities will be so convertible, including the
conversion price and the conversion period;
	 
	 	(16)	 	if other than the principal amount thereof, the portion of the
principal amount of Securities of the series which shall be payable upon
declaration of acceleration of the maturity thereof pursuant to Section 6.01;
	 
	 	(17)	 	any additional or different Events of Default or restrictive
covenants




6









 












	 	 	 	provided for with respect to the Securities of the series; and
	 
	 	(18)	 	the subordination terms of the Securities of the series.





     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 any such Board Resolution or in any
indentures supplemental hereto.



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



     Securities of any particular series may be issued at various times, with different dates on
which the principal or any installment of principal is payable, with different rates of interest,
if any, or different methods by which rates of interest may be determined, with different dates on
which such interest may be payable and with different redemption dates.



SECTION 2.02 Form of Securities and Trustee’s Certificate.




     The Securities of any series and the Trustee’s certificate of authentication to be borne by
such Securities shall be substantially of the tenor and purport as set forth in one or more
indentures supplemental hereto or as provided in a Board Resolution of the Company and as set forth
in an Officers’ Certificate of the Company and the and may have such letters, numbers or other
marks of identification or designation and such legends or endorsements printed, lithographed or
engraved thereon as the Company may deem appropriate and as are not inconsistent with the
provisions of this Indenture, or as may be required to comply with any law or with any rule or
regulation made pursuant thereto or with any rule or regulation of any stock exchange on which
Securities of that series may be listed, or to conform to usage.



SECTION 2.03 Denominations: Provisions for Payment.




     The Securities shall be issuable as registered Securities and in the denominations of one
thousand U.S. dollars ($1,000) or any integral multiple thereof, subject to Section 2.01(a)(12).
The Securities of a particular series shall bear interest payable on the dates and at the rate
specified with respect to that series. The principal of and the interest on the Securities of any
series, as well as any premium thereon in case of redemption thereof prior to maturity, shall be
payable in the coin or currency of the United States of America that at the time is legal tender
for public and private debt, at the office or agency of the Company maintained for that purpose in
the Borough of Manhattan, the City and State of New York. Each Security shall be dated the date of
its authentication. Interest on the Securities shall be computed on the basis of a 360-day year
composed of twelve 30-day months.



     The interest installment on any Security that is payable, and is punctually paid or duly
provided for, on any Interest Payment Date for Securities of that series shall be paid to the
Person in whose name said Security (or one or more Predecessor Securities) is registered at the
close of business on the regular record date for such interest installment. In the event that any
Security of a particular series or portion thereof is called for redemption and the redemption date



7









 





is subsequent to a regular record date with respect to any Interest Payment Date and prior to such
Interest Payment Date, interest on such Security will be paid upon presentation and surrender of
such Security as provided in Section 3.03.




     Any interest on any Security that is payable, but is not punctually paid or duly provided for,
on any Interest Payment Date for Securities of the same series (herein called “Defaulted Interest”)
shall forthwith cease to be payable to the registered holder on the relevant regular record date by
virtue of having been such holder; and such Defaulted Interest shall be paid by the Company, at its
election, as provided in clause (1) or clause (2) below:




	 	(1)	 	The Company may make payment of any Defaulted Interest on
Securities to the Persons in whose names such Securities (or their respective
Predecessor Securities) are registered at the close of business on a special
record date for the payment of such Defaulted Interest, which shall be fixed in
the following manner: the Company shall notify the Trustee in writing of the
amount of Defaulted Interest proposed to be paid on each such Security and the
date of the proposed payment, and at the same time the Company shall deposit
with the Trustee an amount of money equal to the aggregate amount proposed to
be paid in respect of such Defaulted Interest or shall make arrangements
satisfactory to the Trustee for such deposit prior to the date of the proposed
payment, such money when deposited to be held in trust for the benefit of the
Persons entitled to such Defaulted Interest as in this clause provided.
Thereupon the Trustee shall fix a special record date for the payment of such
Defaulted Interest which shall not be more than 15 nor less than 10 days prior
to the date of the proposed payment and not less than 10 days after the receipt
by the Trustee of the notice of the proposed payment. The Trustee shall
promptly notify the Company of such special record date and, in the name and at
the expense of the Company, shall cause notice of the proposed payment of such
Defaulted Interest and the special record date therefor to be mailed, first
class postage prepaid, to each Securityholder at his or her address as it
appears in the Security Register, not less than 10 days prior to such special
record date. Notice of the proposed payment of such Defaulted Interest and the
special record date therefor having been mailed as aforesaid, such Defaulted
Interest shall be paid to the Persons in whose names such Securities (or their
respective Predecessor Securities) are registered on such special record date.
	 
	 	(2)	 	The Company may make payment of any Defaulted Interest on any
Securities in any other lawful manner not inconsistent with the requirements of
any securities exchange on which such Securities may be listed, and upon such
notice as may be required by such exchange, if, after notice given by the
Company to the Trustee of the proposed payment pursuant to this clause, such
manner of payment shall be deemed practicable by the Trustee.




8









 











     Unless otherwise set forth in a Board Resolution of the Company or one or more indentures
supplemental hereto establishing the terms of any series of Securities pursuant to Section 2.01
hereof, the term “regular record date” as used in this Section with respect to a series of
Securities with respect to any Interest Payment Date for such series shall mean either the
fifteenth day of the month immediately preceding the month in which an Interest Payment Date
established for such series pursuant to Section 2.01 hereof shall occur, if such Interest Payment
Date is the first day of a month, or the last day of the month immediately preceding the month in
which an Interest Payment Date established for such series pursuant to Section 2.01 hereof shall
occur, if such Interest Payment Date is the fifteenth day of a month, whether or not such date is a
Business Day.



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



SECTION 2.04 Execution and Authentications.




     The Securities shall be signed on behalf of the Company by its President, or one of its Vice
Presidents, or its Treasurer, or one of its Assistant Treasurers, or its Secretary, or one of its
Assistant Secretaries, under its corporate seal attested by its Secretary or one of its Assistant
Secretaries. Signatures may be in the form of a manual or facsimile signature. The Company may use
the facsimile signature of any Person who shall have been a President or Vice President thereof, or
of any Person who shall have been a Treasurer or Assistant Treasurer thereof, or of any Person who
shall have been a Secretary or Assistant Secretary thereof, notwithstanding the fact that at the
time the Securities shall be authenticated and delivered or disposed of such Person shall have
ceased to be the President or a Vice President, the Treasurer or an Assistant Treasurer or the
Secretary or an Assistant Secretary, of the Company. The seal of the Company may be in the form of
a facsimile of such seal and may be impressed, affixed, imprinted or otherwise reproduced on the
Securities. The Securities may contain such notations, legends or endorsements required by law,
stock exchange rule or usage. Each Security shall be dated the date of its authentication.



     A Security shall not be valid or obligatory for any purpose and shall not be entitled to any
benefit under this Indenture, in each case, until authenticated with a certificate of
authentication manually signed by an authorized signatory of the Trustee, or by an Authenticating
Agent. Such certificate shall be conclusive evidence, and the only evidence, that the Security so
authenticated has been duly authenticated and delivered hereunder and that the Security is entitled
to the benefits of this Indenture. At any time and from time to time after the execution and
delivery of this Indenture, the Company may deliver Securities of any series executed by the
Company to the Trustee for authentication, together with a written order of the Company for the
authentication and delivery of such Securities, signed by its President or any Vice President and
its Secretary or any Assistant Secretary, and the Trustee in accordance with such written order
shall authenticate and deliver such Securities.



     In authenticating such Securities and accepting the additional responsibilities under this
Indenture in relation to such Securities, the Trustee shall be entitled to receive, and (subject to



9









 





Section 7.01) shall be fully protected in relying upon, an Opinion of Counsel stating that the form
and terms thereof have been established in conformity with the provisions of this Indenture.




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



SECTION 2.05 Registration of Transfer and Exchange.





	 	(a)	 	Securities of any series may be exchanged upon presentation thereof at the
office or agency of the Company designated for such purpose in the Borough of
Manhattan, the City and State of New York, for other Securities of such series of
authorized denominations, and for a like aggregate principal amount, upon payment of a
sum sufficient to cover any tax or other governmental charge in relation thereto, all
as provided in this Section. In respect of any Securities so surrendered for exchange,
the Company shall execute, the Trustee shall authenticate and such office or agency
shall deliver in exchange therefor the Security or Securities of the same series that
the Securityholder making the exchange shall be entitled to receive, bearing numbers
not contemporaneously outstanding.
	 
	 	(b)	 	The Company shall keep, or cause to be kept, at its office or agency designated
for such purpose in the Borough of Manhattan, the City and State of New York, or such
other location designated by the Company a register or registers (herein referred to as
the “Security Register”) in which, subject to such reasonable regulations as it may
prescribe, the Company shall register the Securities and the transfers of Securities as
in this Article provided and which at all reasonable times shall be open for inspection
by the Trustee. The registrar for the purpose of registering Securities and transfer of
Securities as herein provided shall be appointed as authorized by Board Resolution (the
“Security Registrar”).
	 
	 	 	 	Upon surrender for transfer of any Security at the office or agency of the Company
designated for such purpose, the Company shall execute, the Trustee shall
authenticate and such office or agency shall deliver in the name of the transferee
or transferees a new Security or Securities of the same series as the Security
presented for a like aggregate principal amount.
	 
	 	 	 	All Securities presented or surrendered for exchange or registration of transfer, as
provided in this Section, shall be accompanied (if so required by the Company or the
Security Registrar) by a written instrument or instruments of transfer, in form
satisfactory to the Company or the Security Registrar, duly executed by the
registered holder or by such holder’s duly authorized attorney in writing.
	 
	 	(c)	 	No service charge shall be made for any exchange or registration of transfer of
Securities, or issue of new Securities in case of partial redemption of any series, but
the Company may require payment of a sum sufficient to cover any tax or




10









 












	 		 	other governmental charge in relation thereto, other than exchanges pursuant to
Section 2.06, Section 3.03(b) and Section 9.04 not involving any transfer.
	 
	 	(d)	 	The Company shall not be required (i) to issue, exchange or register the
transfer of any Securities during a period beginning at the opening of business 15 days
before the day of the mailing of a notice of redemption of less than all the
Outstanding Securities of the same series and ending at the close of business on the
day of such mailing, nor (ii) to register the transfer of or exchange any Securities of
any series or portions thereof called for redemption. The provisions of this Section
2.05 are, with respect to any Global Security, subject to Section 2.11 hereof.





SECTION 2.06 Temporary Securities.




     Pending the preparation of definitive Securities of any series, the Company may execute, and
the Trustee shall authenticate and deliver, temporary Securities (printed, lithographed or
typewritten) of any authorized denomination. Such temporary Securities shall be substantially in
the form of the definitive Securities in lieu of which they are issued, but with such omissions,
insertions and variations as may be appropriate for temporary Securities, all as may be determined
by the Company. Every temporary Security of any series shall be executed by the Company and be
authenticated by the Trustee upon the same conditions and in substantially the same manner, and
with like effect, as the definitive Securities of such series. Without unnecessary delay the
Company will execute and will furnish definitive Securities of such series and thereupon any or all
temporary Securities of such series may be surrendered in exchange therefor (without charge to the
holders), at the office or agency of the Company designated for the purpose in the Borough of
Manhattan, the City and State of New York, and the Trustee shall authenticate and such office or
agency shall deliver in exchange for such temporary Securities an equal aggregate principal amount
of definitive Securities of such series, unless the Company advises the Trustee to the effect that
definitive Securities need not be executed and furnished until further notice from the Company.
Until so exchanged, the temporary Securities of such series shall be entitled to the same benefits
under this Indenture as definitive Securities of such series authenticated and delivered hereunder.



SECTION 2.07 Mutilated, Destroyed, Lost or Stolen Securities.




     In case any temporary or definitive Security shall become mutilated or be destroyed, lost or
stolen, the Company (subject to the next succeeding sentence) shall execute, and upon the Company’s
request the Trustee (subject as aforesaid) shall authenticate and deliver, a new Security of the
same series, bearing a number not contemporaneously outstanding, in exchange and substitution for
the mutilated Security, or in lieu of and in substitution for the Security so destroyed, lost or
stolen. In every case the applicant for a substituted Security shall furnish to the Company and the
Trustee such security or indemnity as may be required by them to save each of them harmless, and,
in every case of destruction, loss or theft, the applicant shall also furnish to the Company and
the Trustee evidence to their satisfaction of the destruction, loss or theft of the applicant’s
Security and of the ownership thereof. The Trustee may authenticate any such substituted Security
and deliver the same upon the written request or authorization of any officer of the Company. Upon
the issuance of any substituted Security, the Company may require the



11









 





payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in
relation thereto and any other expenses (including the fees and expenses of the Trustee) connected
therewith. In case any Security that has matured or is about to mature shall become mutilated or be
destroyed, lost or stolen, the Company may, instead of issuing a substitute Security, pay or
authorize the payment of the same (without surrender thereof except in the case of a mutilated
Security) if the applicant for such payment shall furnish to the Company and the Trustee such
security or indemnity as they may require to save them harmless, and, in case of destruction, loss
or theft, evidence to the satisfaction of the Company and the Trustee of the destruction, loss or
theft of such Security and of the ownership thereof.




     Every replacement Security issued pursuant to the provisions of this Section shall constitute
an additional contractual obligation of the Company whether or not the mutilated, destroyed, lost
or stolen Security shall be found at any time, or be enforceable by anyone, and shall be entitled
to all the benefits of this Indenture equally and proportionately with any and all other Securities
of the same series duly issued hereunder. All Securities shall be held and owned upon the express
condition that the foregoing provisions are exclusive with respect to the replacement or payment of
mutilated, destroyed, lost or stolen Securities, and shall preclude (to the extent lawful) any and
all other rights or remedies, notwithstanding any law or statute existing or hereafter enacted to
the contrary with respect to the replacement or payment of negotiable instruments or other
securities without their surrender.



SECTION 2.08 Cancellation.




     All Securities surrendered for the purpose of payment, redemption, exchange or registration of
transfer shall, if surrendered to the Company or any paying agent, be delivered to the Trustee for
cancellation, or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall
be issued in lieu thereof except as expressly required or permitted by any of the provisions of
this Indenture. On request of the Company at the time of such surrender, the Trustee shall deliver
to the Company canceled Securities held by the Trustee. In the absence of such request the Trustee
may dispose of canceled Securities in accordance with its standard procedures and deliver a
certificate of disposition to the Company. If the Company shall otherwise acquire any of the
Securities, however, such acquisition shall not operate as a redemption or satisfaction of the
indebtedness represented by such Securities unless and until the same are delivered to the Trustee
for cancellation.



SECTION 2.09 Benefits of Indenture.




     Nothing in this Indenture or in the Securities, express or implied, shall give or be construed
to give to any Person, other than the parties hereto and the holders of the Securities (and, with
respect to the provisions of Article XIV, the holders of Senior Indebtedness, as defined in any
supplement to this Indenture pursuant to Article XIV) any legal or equitable right, remedy or claim
under or in respect of this Indenture, or under any covenant, condition or provision herein
contained; all such covenants, conditions and provisions being for the sole benefit of the parties
hereto and of the holders of the Securities (and, with respect to the provisions of Article XIV,
the holders of Senior Indebtedness).



12









 





SECTION 2.10 Authenticating Agent.




     So long as any of the Securities of any series remain Outstanding there may be an
Authenticating Agent for any or all such series of Securities which the Trustee shall have the
right to appoint. Said Authenticating Agent shall be authorized to act on behalf of the Trustee to
authenticate Securities of such series issued upon exchange, transfer or partial redemption
thereof, and Securities so authenticated shall be entitled to the benefits of this Indenture and
shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. All
references in this Indenture to the authentication of Securities by the Trustee shall be deemed to
include authentication by an Authenticating Agent for such series. Each Authenticating Agent shall
be acceptable to the Company and shall be a corporation that has a combined capital and surplus, as
most recently reported or determined by it, sufficient under the laws of any jurisdiction under
which it is organized or in which it is doing business to conduct a trust business, and that is
otherwise authorized under such laws to conduct such business and is subject to supervision or
examination by Federal or State authorities. If at any time any Authenticating Agent shall cease to
be eligible in accordance with these provisions, it shall resign immediately.



     Any Authenticating Agent may at any time resign by giving written notice of resignation to the
Trustee and to the Company. The Trustee may at any time (and upon request by the Company shall)
terminate the agency of any Authenticating Agent by giving written notice of termination to such
Authenticating Agent and to the Company. Upon resignation, termination or cessation of eligibility
of any Authenticating Agent, the Trustee may appoint an eligible successor Authenticating Agent
acceptable to the Company. Any successor Authenticating Agent, upon acceptance of its appointment
hereunder, shall become vested with all the rights, powers and duties of its predecessor hereunder
as if originally named as an Authenticating Agent pursuant hereto.



SECTION 2.11 Global Securities





	 	(a)	 	If the Company shall establish pursuant to Section 2.01 that some or all of the
Securities of a particular series are to be issued as a Global Security, then the
Company shall execute and the Trustee shall, in accordance with Section 2.04,
authenticate and deliver, a Global Security that (i) shall represent, and shall be
denominated in an amount equal to the aggregate principal amount of, the Outstanding
Securities of such series which are to be issued as a Global Security, (ii) shall be
registered in the name of the Depositary or its nominee, (iii) shall be delivered by
the Trustee to the Depositary or pursuant to the Depositary’s instruction and (iv)
shall bear a legend substantially to the following effect: “Except as otherwise
provided in Section 2.11 of the Indenture, this Security may be transferred, in whole
but not in part, only to another nominee of the Depositary or to a successor Depositary
or to a nominee of such successor Depositary.”
	 
	 	(b)	 	Notwithstanding the provisions of Section 2.05, the Global Security of a series
may be transferred, in whole but not in part and in the manner provided in Section
2.05, only to another nominee of the Depositary for such series, or to a successor
Depositary for such series selected or approved by the Company or to a nominee




13









 












	 		 	of such successor Depositary.
	 
	 	(c)	 	If at any time the Depositary for a series of the Securities notifies the
Company that it is unwilling or unable to continue as Depositary for such series or if
at any time the Depositary for such series shall no longer be registered or in good
standing under the Exchange Act, or other applicable statute or regulation, and a
successor Depositary for such series is not appointed by the Company within 90 days
after the Company receives such notice or becomes aware of such condition, as the case
may be, this Section 2.11 shall no longer be applicable to the Securities of such
series and the Company will execute, and subject to Section 2.05, the Trustee will
authenticate and deliver the Securities of such series in definitive registered form
without coupons, in authorized denominations, and in an aggregate principal amount
equal to the principal amount of the Global Security of such series in exchange for
such Global Security. In addition, the Company may at any time determine that the
Securities of any series shall no longer be represented by a Global Security and that
the provisions of this Section 2.11 shall no longer apply to the Securities of such
series. In such event the Company will execute and subject to Section 2.05, the
Trustee, upon receipt of an Officers’ Certificate evidencing such determination by the
Company, will authenticate and deliver the Securities of such series in definitive
registered form without coupons, in authorized denominations, and in an aggregate
principal amount equal to the principal amount of the Global Security of such series in
exchange for such Global Security. Upon the exchange of the Global Security for such
Securities in definitive registered form without coupons, in authorized denominations,
the Global Security shall be canceled by the Trustee. Such Securities in definitive
registered form issued in exchange for the Global Security pursuant to this Section
2.11(c) shall be registered in such names and in such authorized denominations as the
Depositary, pursuant to instructions from its direct or indirect participants or
otherwise, shall instruct the Trustee. The Trustee shall deliver such Securities to the
Depositary for delivery to the Persons in whose names such Securities are so
registered.





ARTICLE III




REDEMPTION OF SECURITIES AND

SINKING FUND PROVISIONS



SECTION 3.01 Redemption.




     The Company may redeem the Securities of any series issued hereunder on and after the dates
and in accordance with the terms established for such series pursuant to Section 2.01 hereof.



SECTION 3.02 Notice of Redemption.





	 	(a)	 	In case the Company shall desire to exercise such right to redeem all or, as
the case may be, a portion of the Securities of any series in accordance with the right




14









 












	 	 	 	reserved so to do, the Company shall, or shall cause the Trustee to, give notice of
such redemption to holders of the Securities of such series to be redeemed by
mailing, first class postage prepaid, a notice of such redemption not less than 30
days and not more than 90 days before the date fixed for redemption of that series
to such holders at their last addresses as they shall appear upon the Security
Register unless a shorter period is specified in the Securities to be redeemed. Any
notice that is mailed in the manner herein provided shall be conclusively presumed
to have been duly given, whether or not the registered holder receives the notice.
In any case, failure duly to give such notice to the holder of any Security of any
series designated for redemption in whole or in part, or any defect in the notice,
shall not affect the validity of the proceedings for the redemption of any other
Securities of such series or any other series. In the case of any redemption of
Securities prior to the expiration of any restriction on such redemption provided in
the terms of such Securities or elsewhere in this Indenture, the Company shall
furnish the Trustee with an Officers’ Certificate evidencing compliance with any
such restriction.





     Each such notice of redemption shall specify the date fixed for redemption and the redemption
price at which Securities of that series are to be redeemed, and shall state that payment of the
redemption price of such Securities to be redeemed will be made at the office or agency of the
Company in the Borough of Manhattan, the City and State of New York, upon presentation and
surrender of such Securities, that interest accrued to the date fixed for redemption will be paid
as specified in said notice, that from and after said date interest will cease to accrue and that
the redemption is for a sinking fund, if such is the case. If less than all the Securities of a
series are to be redeemed, the notice to the holders of Securities of that series to be redeemed in
whole or in part shall specify the particular Securities to be so redeemed. In case any Security is
to be redeemed in part only, the notice that relates to such Security shall state the portion of
the principal amount thereof to be redeemed, and shall state that on and after the redemption date,
upon surrender of such Security, a new Security or Securities of such series in principal amount
equal to the unredeemed portion thereof will be issued.




	 	(b)	 	If less than all the Securities of a series are to be redeemed, the Company
shall give the Trustee at least 30 days’ notice in advance of the date fixed for
redemption as to the aggregate principal amount of Securities of the series to be
redeemed, and thereupon the Trustee shall select, by lot or in such other manner as it
shall deem appropriate and fair in its discretion and that may provide for the
selection of a portion or portions (equal to one thousand U.S. dollars ($1,000) or any
integral multiple thereof) of the principal amount of such Securities of a denomination
larger than $1,000, the Securities to be redeemed and shall thereafter promptly notify
the Company in writing of the numbers of the Securities to be redeemed, in whole or in
part. The Company may, if and whenever it shall so elect, by delivery of instructions
signed on its behalf by its President or any Vice President, instruct the Trustee or
any paying agent to call all or any part of the Securities of a particular series for
redemption and to give notice of redemption in the manner set forth in this Section,
such notice to be in the name of the Company or its own name as the Trustee or such
paying agent may deem advisable. In any case in which notice of redemption is to be
given by




15









 












	 	 	 	the Trustee or any such paying agent, the Company shall deliver or cause to be
delivered to, or permit to remain with, the Trustee or such paying agent, as the
case may be, such Security Register, transfer books or other records, or suitable
copies or extracts therefrom, sufficient to enable the Trustee or such paying agent
to give any notice by mail that may be required under the provisions of this
Section.





SECTION 3.03 Payment Upon Redemption.





	 	(a)	 	If the giving of notice of redemption shall have been completed as above
provided, the Securities or portions of Securities of the series to be redeemed
specified in such notice shall become due and payable on the date and at the place
stated in such notice at the applicable redemption price, together with interest
accrued to the date fixed for redemption and interest on such Securities or portions of
Securities shall cease to accrue on and after the date fixed for redemption, unless the
Company shall default in the payment of such redemption price and accrued interest with
respect to any such Security or portion thereof. On presentation and surrender of such
Securities on or after the date fixed for redemption at the place of payment specified
in the notice, said Securities shall be paid and redeemed at the applicable redemption
price for such series, together with interest accrued thereon to the date fixed for
redemption (but if the date fixed for redemption is an interest payment date, the
interest installment payable on such date shall be payable to the registered holder at
the close of business on the applicable record date pursuant to Section 2.03).
	 
	 	(b)	 	Upon presentation of any Security of such series that is to be redeemed in part
only, the Company shall execute and the Trustee shall authenticate and the office or
agency where the Security is presented shall deliver to the holder thereof, at the
expense of the Company, a new Security of the same series of authorized denominations
in principal amount equal to the unredeemed portion of the Security so presented.





SECTION 3.04 Sinking Fund.




     The provisions of Sections 3.04, 3.05 and 3.06 shall be applicable to any sinking fund for the
retirement of Securities of a series, except as otherwise specified as contemplated by Section 2.01
for Securities of such series.



     The minimum amount of any sinking fund payment provided for by the terms of Securities of any
series is herein referred to as a “mandatory sinking fund payment,” and any payment in excess of
such minimum amount provided for by the terms of Securities of any series is herein referred to as
an “optional sinking fund payment.” If provided for by the terms of Securities of any series, the
cash amount of any sinking fund payment may be subject to reduction as provided in Section 3.05.
Each sinking fund payment shall be applied to the redemption of Securities of any series as
provided for by the terms of Securities of such series.



16









 





SECTION 3.05 Satisfaction of Sinking Fund Payments with Securities.




     The Company (i) may deliver Outstanding Securities of a series (other than any Securities
previously called for redemption) and (ii) may apply as a credit Securities of a series that have
been redeemed either at the election of the Company pursuant to the terms of such Securities or
through the application of permitted optional sinking fund payments pursuant to the terms of such
Securities, in each case in satisfaction of all or any part of any sinking fund payment with
respect to the Securities of such series required to be made pursuant to the terms of such
Securities as provided for by the terms of such series, provided that such Securities have not been
previously so credited. Such Securities shall be received and credited for such purpose by the
Trustee at the redemption price specified in such Securities for redemption through operation of
the sinking fund and the amount of such sinking fund payment shall be reduced accordingly.



SECTION 3.06 Redemption of Securities for Sinking Fund.




     Not less than 45 days prior to each sinking fund payment date for any series of Securities,
the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next
ensuing sinking fund payment for that series pursuant to the terms of the series, the portion
thereof, if any, that is to be satisfied by delivering and crediting Securities of that series
pursuant to Section 3.05 and the basis for such credit and will, together with such Officers’
Certificate, deliver to the Trustee any Securities to be so delivered. Not less than 30 days before
each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon
such sinking fund payment date in the manner specified in Section 3.02 and cause notice of the
redemption thereof to be given in the name of and at the expense of the Company in the manner
provided in Section 3.02. Such notice having been duly given, the redemption of such Securities
shall be made upon the terms and in the manner stated in Section 3.03.



ARTICLE IV




COVENANTS



SECTION 4.01 Payment of Principal, Premium and Interest.




     The Company will duly and punctually pay or cause to be paid the principal of (and premium, if
any) and interest on the Securities of that series at the time and place and in the manner provided
herein and established with respect to such Securities.



SECTION 4.02 Maintenance of Office or Agency.




     So long as any series of the Securities remain Outstanding, the Company agrees to maintain an
office or agency in the Borough of Manhattan, the City and State of New York, with respect to each
such series and at such other location or locations as may be designated as provided in this
Section 4.02, where (i) Securities of that series may be presented or surrendered for payment, (ii)
Securities of that series may be presented as herein above authorized for registration of transfer
and exchange, and (iii) notices and demands to or upon the Company in respect of the Securities of
that series and this Indenture may be given or served, such designation to continue with respect to
such office or agency until the Company shall, by written notice signed by its President or a Vice
President and delivered to the trustee, designate some



17









 





other office or agency for such purposes or any of them. 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, 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, notices and demands.




SECTION 4.03 Paying Agents.





	 	(a)	 	If the Company shall appoint one or more paying agents for all or any series of
the Securities, other than the Trustee, the Company will cause each such paying agent
to execute and deliver to the Trustee an instrument in which such agent shall agree
with the Trustee, subject to the provisions of this Section:






	 	(1)	 	that it will hold all sums held by it as such agent for the
payment of the principal of (and premium, if any) or interest on the Securities
of that series (whether such sums have been paid to it by the Company or by any
other obligor of such Securities) in trust for the benefit of the Persons
entitled thereto;
	 
	 	(2)	 	that it will give the Trustee notice of any failure by the
Company (or by any other obligor of such Securities) to make any payment of the
principal of (and premium, if any) or interest on the Securities of that series
when the same shall be due and payable;
	 
	 	(3)	 	that it will, at any time during the continuance of any failure
referred to in the preceding paragraph (a)(2) above, upon the written request
of the Trustee, forthwith pay to the Trustee all sums so held in trust by such
paying agent; and
	 
	 	(4)	 	that it will perform all other duties of paying agent as set
forth in this Indenture.






	 	(b)	 	If the Company shall act as its own paying agent with respect to any series of
the Securities, it will on or before each due date of the principal of (and premium, if
any) or interest on Securities of that series, set aside, segregate and hold in trust
for the benefit of the Persons entitled thereto a sum sufficient with monies held by
all other paying agents to pay such principal (and premium, if any) or interest so
becoming due on Securities of that series until such sums shall be paid to such Persons
or otherwise disposed of as herein provided and will promptly notify the Trustee of
such action, or any failure (by it or any other obligor on such Securities) to take
such action. Whenever the Company shall have one or more paying agents for any series
of Securities, it will, prior to each due date of the principal of (and premium, if
any) or interest on any Securities of that series, deposit with the paying agent a sum
sufficient to pay the principal (an premium, if any) or interest so becoming due, such
sum to be held in trust for the benefit of the Persons entitled to such principal,
premium or interest, and (unless such paying agent is the Trustee) the Company will
promptly notify the Trustee of this




18









 












	 	 	 	action or failure so to act.
	 
	 	(c)	 	Notwithstanding anything in this Section to the contrary, (i) the agreement to
hold sums in trust as provided in this Section is subject to the provisions of Section
11.05, and (ii) the Company may at any time, for the purpose of obtaining the
satisfaction and discharge of this Indenture or for any other purpose, pay, or direct
any paying agent to pay, to the Trustee all sums held in trust by the Company or such
paying agent, such sums to be held by the Trustee upon the same terms and conditions as
those upon which such sums were held by the Company or such paying agent; and, upon
such payment by any paying agent to the Trustee, such paying agent shall be released
from all further liability with respect to such money.





SECTION 4.04 Appointment to Fill Vacancy in Office of Trustee.




     The Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, will
appoint, in the manner provided in Section 7.10, a Trustee, so that there shall at all times be a
Trustee hereunder.



SECTION 4.05 Compliance with Consolidation Provisions.




     The Company will not, while any of the Securities remain Outstanding, consolidate with or
merge into any other Person, in either case where the Company is not the survivor of such
transaction, or sell or convey all or substantially all of its property to any other company unless
the provisions of Article X hereof are complied with.



ARTICLE V




SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE



SECTION 5.01 Company to Furnish Trustee Names and Addresses of Securityholders.




     If the Company is not the Security Register, the Company will furnish or use reasonable
efforts to cause to be furnished to the Trustee (a) on each regular record date (as defined in
Section 2.03) a list, in such form as the Trustee may reasonably require, of the names and
addresses of the holders of each series of Securities as of such regular record date, provided that
the Company shall not be obligated to furnish or cause to furnish such list at any time that the
list shall not differ in any respect from the most recent list furnished to the Trustee by the
Company and (b) at such other times as the Trustee may request in writing within 30 days after the
receipt by the Company of any such request, a list of similar form and content as of a date not
more than 15 days prior to the time such list is furnished; provided, however, that, in either
case, no such list need be furnished for any series for which the Trustee shall be the Security
Registrar.



SECTION 5.02 Preservation Of Information; Communications With Securityholders.





	 	(a)	 	The Trustee shall preserve, in as current a form as is reasonably practicable,
all information as to the names and addresses of the holders of Securities contained in
the most recent list furnished to it as provided in Section 5.01 and as to the




19









 












	 	 	 	names and addresses of holders of Securities received by the Trustee in its capacity
as Security Registrar (if acting in such capacity) and shall otherwise comply with
Section 312(a) of the Trust Indenture Act.
	 
	 	(b)	 	The Trustee may destroy any list furnished to it as provided in Section 5.01
upon receipt of a new list so furnished.
	 
	 	(c)	 	Securityholders may communicate as provided in Section 312(b) of the Trust
Indenture Act with other Securityholders with respect to their rights under this
Indenture or under the Securities.





SECTION 5.03 Reports by the Company.





	 	(a)	 	The Company covenants and agrees to file with the Trustee, within 15 days after
the Company is required to file the same with the Commission, copies of the annual
reports and of the information, documents and other reports (or copies of such portions
of any of the foregoing as the Commission may from time to time by rules and
regulations prescribe) that the Company may be required to file with the Commission
pursuant to Section 13 or Section 15(d) of the Exchange Act; or, if the Company is not
required to file information, documents or reports pursuant to either of such sections,
then to file with the Trustee and the Commission, in accordance with the rules and
regulations prescribed from time to time by the Commission, such of the supplementary
and periodic information, documents and reports that may be required pursuant to
Section 13 of the Exchange Act, in respect of a security listed and registered on a
national securities exchange as may be prescribed from time to time in such rules and
regulations; provided, however, the Company shall not be required to deliver to the
Trustee any materials for which the Company has sought and received confidential
treatment by the Commission. The Company also shall comply with the other provisions of
Section 314(a) of the Trust Indenture Act.
	 
	 	(b)	 	The Company covenants and agrees to file with the Trustee and the Commission,
in accordance with the rules and regulations prescribed from to time by the Commission,
such additional information, documents and reports with respect to compliance by the
Company with the conditions and covenants provided for in this Indenture as may be
required from time to time by such rules and regulations.
	 
	 	(c)	 	The Company covenants and agrees to transmit by mail, first class postage
prepaid, or reputable over-night delivery service that provides for evidence of
receipt, to the Securityholders, as their names and addresses appear upon the Security
Register, within 30 days after the filing thereof with the Trustee, such summaries of
any information, documents and reports required to be filed by the Company pursuant to
subsections (a) and (b) of this Section as may be required by rules and regulations
prescribed from time to time by the Commission.





SECTION 5.04 Reports by the Trustee.





	 	(a)	 	The Trustee shall transmit to holders as provided in Section 313 of the Trust




20









 












	 	 	 	Indenture Act such reports concerning the Trustee and its actions under this
Indenture as may be required by Section 313 of the Trust Indenture Act at the times
and in the manner provided by the Trust Indenture Act.
	 
	 	(b)	 	A copy of each such report shall, at the time of such transmission to
Securityholders, be filed by the Trustee with the Company, with each stock exchange
upon which any Securities are listed (if so listed) and, if required by Section 313 of
the Trust Indenture Act, also with the Commission. The Company agrees to notify the
Trustee when any Securities become listed on any stock exchange.





ARTICLE VI




REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT



SECTION 6.01 Events of Default.





	 	(a)	 	Whenever used herein with respect to Securities of a particular series, “Event
of Default” means any one or more of the following events that has occurred and is
continuing:






	 	(1)	 	the Company defaults in the payment of any installment of
interest upon any of the Securities of that series, as and when the same shall
become due and payable, and continuance of such default for a period of 90
days; provided, however, that a valid extension of an interest payment period
by the Company in accordance with the terms of any indenture supplemental
hereto shall not constitute a default in the payment of interest for this
purpose;






	 	(2)	 	the Company defaults in the payment of the principal of (or
premium, if any, on) any of the Securities of that series as and when the same
shall become due and payable whether at maturity, upon redemption, by
declaration or otherwise, or in any payment required by any sinking or
analogous fund established with respect to that series; provided, however, that
a valid extension of the maturity of such Securities in accordance with the
terms of any indenture supplemental hereto shall not constitute a default in
the payment of principal or premium, if any;






	 	(3)	 	the Company fails to observe or perform any other of its
covenants or agreements with respect to that series contained in this Indenture
or otherwise established with respect to that series of Securities pursuant to
Section 2.01 hereof (other than a covenant or agreement that has been expressly
included in this Indenture solely for the benefit of one or more series of
Securities other than such series) for a period of 90 days after the date on
which written notice of such failure, requiring the same to be remedied and
stating that such notice is a “Notice of Default” hereunder, shall have been
given to the Company by the Trustee, by registered or




21









 












	 	 	 	certified mail, or to the Company and the Trustee by the holders of not less
than a majority in principal amount of the Securities of that series at the
time Outstanding;
	 
	 	(4)	 	the Company pursuant to or within the meaning of any Bankruptcy
Law (i) commences a voluntary case, (ii) consents to the entry of an order for
relief against it in an involuntary case, (iii) consents to the appointment of
a Custodian of it or for all or substantially all of its property or (iv) makes
a general assignment for the benefit of its creditors; or
	 
	 	(5)	 	a court of competent jurisdiction enters an order under any
Bankruptcy Law that (i) is for relief against the Company in an involuntary
case, (ii) appoints a Custodian of the Company for all or substantially all of
its property, or (iii) orders the liquidation of the Company, and the order or
decree remains unstayed and in effect for 90 consecutive days.






	 	(b)	 	In each and every such case, unless the principal of all the Securities of that
series shall have already become due and payable, either the Trustee or the holders of
not less than a majority in aggregate principal amount of the Securities of that series
then Outstanding hereunder, by notice in writing to the Company (and to the Trustee if
given by such Securityholders), may declare the principal (or, if any Securities of
that series are discount securities, that portion of the principal amount as may be
specified in the terms of that series pursuant to Section 2.01(a)(16)) of (and premium,
if any, on) and accrued and unpaid interest, if any, on all the Securities of that
series to be due and payable immediately, and upon any such declaration the same shall
become and shall be immediately due and payable. Notwithstanding the foregoing, the
payment of such principal (or, if any Securities of that series are discount
securities, that portion of the principal amount as may be specified in the terms of
that series pursuant to Section 2.01(a)(16)) of (and premium, if any, on) and accrued
and unpaid interest, if any, on the Securities of such series shall remain subordinated
to the extent provided in Article XIV.
	 
	 	(c)	 	At any time after the principal of the Securities of that series shall have
been so declared due and payable, and before a judgment or decree for the payment of
the moneys due shall have been obtained or entered as hereinafter provided, the holders
of a majority in aggregate principal amount of the Securities of that series then
Outstanding hereunder (or, by action at a meeting of holders of the Securities of such
series in accordance with Section 8.09, the holders of a majority in aggregate
principal amount of the Securities of such series then Outstanding represented at such
meeting), by written notice to the Company and the Trustee, may rescind and annul such
declaration and its consequences if: (i) the Company has paid or deposited with the
Trustee a sum sufficient to pay all matured installments of interest upon all the
Securities of that series and the principal of (and premium, if any, on) any and all
Securities of that series that shall have become due otherwise than by acceleration and
(ii) any and all Events of Default under this Indenture with respect to such series,
other than the nonpayment of




22









 












	 	 	 	principal of (and premium, if any, on) and accrued and unpaid interest, if any, on
Securities of that series that shall have become due solely because of such
acceleration, shall have been remedied, cured or waived as provided in Section 6.06.
No such rescission and annulment shall extend to or shall affect any subsequent
default or impair any right consequent thereon.
	 
	 	(d)	 	In case the Trustee shall have proceeded to enforce any right with respect to
Securities of that series under this Indenture and such proceedings shall have been
discontinued or abandoned because of such rescission or annulment or for any other
reason or shall have been determined adversely to the Trustee, then and in every such
case, subject to any determination in such proceedings, the Company, and the Trustee
shall be restored respectively to their former positions and rights hereunder, and all
rights, remedies and powers of the Company and the Trustee shall continue as though no
such proceedings had been taken.





SECTION 6.02 Collection of Indebtedness and Suits for Enforcement by Trustee.





	 	(a)	 	The Company covenants that (1) in case it shall default in the payment of any
installment of interest on any of the Securities of a series, or any payment required
by any sinking or analogous fund established with respect to that series as and when
the same shall have become due and payable, and such default shall have continued for a
period of 90 Business Days, or (2) in case it shall default in the payment of the
principal of (or premium, if any, on) any of the Securities of a series when the same
shall have become due and payable, whether upon maturity of the Securities of a series
or upon redemption or upon declaration or otherwise, then, upon demand of the Trustee,
the Company will pay to the Trustee, for the benefit of the holders of the Securities
of that series, the whole amount that then shall have been become due and payable on
all such Securities for principal (and premium, if any) or interest, or both, as the
case may be, with interest upon the overdue principal (and premium, if any) and (to the
extent that payment of such interest is enforceable under applicable law) upon overdue
installments of interest at the rate per annum expressed in the Securities of that
series; and, in addition thereto, such further amount as shall be sufficient to cover
the costs and expenses of collection, and the amount payable to the Trustee under
Section 7.06.
	 
	 	(b)	 	If the Company shall fail to pay such amounts forthwith upon such demand, the
Trustee, in its own name and as trustee of an express trust, shall be entitled and
empowered to institute any action or proceedings at law or in equity for the collection
of the sums so due and unpaid, and may prosecute any such action or proceeding to
judgment or final decree, and may enforce any such judgment or final decree against the
Company or other obligor upon the Securities of that series and collect the moneys
adjudged or decreed to be payable in the manner provided by law out of the property of
the Company or other obligor upon the Securities of that series, wherever situated.
	 
	 	(c)	 	In case of any receivership, insolvency, liquidation, bankruptcy,
reorganization, readjustment, arrangement, composition or judicial proceedings affected
the




23









 












	 	 	 	Company, or its creditors or property, the Trustee shall have power to intervene in
such proceedings and take any action therein that may be permitted by the court and
shall (except as may be otherwise provided by law) be entitled to file such proofs
of claim and other papers and documents as may be necessary or advisable in order to
have the claims of the Trustee and of the holders of Securities of such series
allowed for the entire amount due and payable by the Company under this Indenture at
the date of institution of such proceedings and for any additional amount that may
become due and payable by the Company after such date, and to collect and receive
any moneys or other property payable or deliverable on any such claim, and to
distribute the same after the deduction of the amount payable to the Trustee under
Section 7.06; and any receiver, assignee or trustee in bankruptcy or reorganization
is hereby authorized by each of the holders of Securities of such series to make
such payments to the Trustee, and, in the event that the Trustee shall consent to
the making of such payments directly to such Securityholders, to pay to the Trustee
any amount due it under Section 7.06.
	 
	 	(d)	 	All rights of action and of asserting claims under this Indenture, or under any
of the terms established with respect to Securities of that series, may be enforced by
the Trustee without the possession of any of such Securities, or the production thereof
at any trial or other proceeding relative thereto, and any such suit or proceeding
instituted by the Trustee shall be brought in its own name as trustee of an express
trust, and any recovery of judgment shall, after provision for payment to the Trustee
of any amounts due under Section 7.06, be for the ratable benefit of the holders of the
Securities of such series.





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



     Nothing contained herein shall be deemed to authorize the Trustee to authorize or consent to
or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement,
adjustment or composition affecting the Securities of that series or the rights of any holder
thereof or to authorize the Trustee to vote in respect of the claim of any Securityholder in any
such proceeding.



SECTION 6.03 Application of Moneys Collected.




     Any moneys collected by the Trustee pursuant to this Article with respect to a particular
series of Securities shall be applied in the following order, at the date or dates fixed by the
Trustee and, in case of the distribution of such moneys on account of principal (or premium, if
any) or interest, upon presentation of the Securities of that series, and notation thereon the
payment, if only partially paid, and upon surrender thereof if fully paid:



24









 






	 	FIRST:	 	 To the payment of costs and expenses of collection and of all amounts payable to the
Trustee under Section 7.06;
	 
	 	SECOND: 	 	To the payment of all Senior Indebtedness of the Company if and to the extent
required by Article XIV; and
	 
	 	THIRD: 	 	 To the payment of the amounts then due and unpaid upon Securities of such series for
principal (and premium, if any) and interest, in respect of which or for the benefit of
which such money has been collected, ratably, without preference or priority of any
kind, according to the amounts due and payable on such Securities for principal (and
premium, if any) and interest, respectively.





SECTION 6.04 Limitation on Suits.




     No holder of any Security of any series shall have any right by virtue or by availing of any
provision of this Indenture to institute any suit, action or proceeding in equity or at law upon or
under or with respect to this Indenture or for the appointment of a receiver or trustee, or for any
other remedy hereunder, unless (i) such holder previously shall have given to the Trustee written
notice of an Event of Default and of the continuance thereof with respect to the Securities of such
series specifying such Event of Default, as hereinbefore provided; (ii) the holders of not less
than a majority in aggregate principal amount of the Securities of such series then Outstanding
shall have made written request upon the Trustee to institute such action, suit or proceeding in
its own name as trustee hereunder; (iii) such holder or holders shall have offered to the Trustee
such reasonable indemnity as it may require against the costs, expenses and liabilities to be
incurred therein or thereby; and (iv) the Trustee for 60 days after its receipt of such notice,
request and offer of indemnity, shall have failed to institute any such action, suit or proceeding
and (v) during such 60 day period, the holders of a majority in principal amount of the Securities
of that series (or such amount as shall have acted at a meeting of the holders of Securities of
such series pursuant to the provisions of this Indenture) do not give the Trustee a direction
inconsistent with the request; provided, however, that no one or more of such holders may use this
Indenture to prejudice the rights of another holder or to obtain preference or priority over
another holder.



     Notwithstanding anything contained herein to the contrary, any other provisions of this
Indenture, the right of any holder of any Security to receive payment of the principal of (and
premium, if any) and interest on such Security, as therein provided, on or after the respective due
dates expressed in such Security (or in the case of redemption, on the redemption date), or to
institute suit for the enforcement of any such payment on or after such respective dates or
redemption date, shall not be impaired or affected without the consent of such holder and by
accepting a Security hereunder it is expressly understood, intended and covenanted by the taker and
holder of every Security of such series with every other such taker and holder and the Trustee,
that no one or more holders of Securities of such series shall have any right in any manner
whatsoever by virtue or by availing of any provision of this Indenture to affect, disturb or
prejudice the rights of the holders of any other of such Securities, or to obtain or seek to obtain
priority over or preference to any other such holder, or to enforce any right under this Indenture,
except in the manner herein provided and for the equal, ratable and common benefit of all



25









 





holders of Securities of such series. For the protection and enforcement of the provisions of this
Section, each and every Securityholder and the Trustee shall be entitled to such relief as can be
given either at law or in equity.




SECTION 6.05 Rights and Remedies Cumulative; Delay or Omission Not Waiver.





	 	(a)	 	Except as otherwise provided in Section 2.07, all powers and remedies given by
this Article to the Trustee or to the Securityholders shall, to the extent permitted by
law, be deemed cumulative and not exclusive of any other powers and remedies available
to the Trustee or the holders of the Securities, by judicial proceedings or otherwise,
to enforce the performance or observance of the covenants and agreements contained in
this Indenture or otherwise established with respect to such Securities.
	 
	 	(b)	 	No delay or omission of the Trustee or of any holder of any of the Securities
to exercise any right or power accruing upon any Event of Default occurring and
continuing as aforesaid shall impair any such right or power, or shall be construed to
be a waiver of any such default or on acquiescence therein; and, subject to the
provisions of Section 6.04, every power and remedy given by this Article or by law to
the Trustee or the Securityholders may be exercised from time to time, and as often as
shall be deemed expedient, by the Trustee or by the Securityholders.





SECTION 6.06 Control by Securityholders.




     The holders of a majority in aggregate principal amount of the Securities of any series at the
time Outstanding, determined in accordance with Section 8.01, shall have the right to direct the
time, method and place of conducting any proceeding for any remedy available to the Trustee, or
exercising any trust or power conferred on the Trustee with respect to such series; provided,
however, that such direction shall not be in conflict with any rule of law or with this Indenture
or be unduly prejudicial to the rights of holders of Securities of any other series at the time
Outstanding determined in accordance with Section 8.01. Subject to the provisions of Section 7.01,
the Trustee shall have the right to decline to follow any such direction if the Trustee in good
faith shall, by a Responsible Officer or Officers of the Trustee, determine that the proceeding so
directed would involve the Trustee in personal liability.



     The holders either (a) through the written consent of not less than a majority in aggregate
principal amount of the Securities of any series at the time Outstanding or (b) by action at a
meeting of holders of the Securities of such series in accordance with Section 8.09, by the holders
of a majority in aggregate principal amount of the Securities of such series then Outstanding
represented at such meeting, may on behalf of the holders of all of the Securities of such series
waive any past default in the performance of any of the covenants contained herein or established
pursuant to Section 2.01 with respect to such series and its consequences, except a default in the
payment of the principal of, or premium, if any, or interest on, any of the Securities of that
series as and when the same shall become due by the terms of such Securities otherwise than by
acceleration (unless such default has been cured and a sum sufficient to pay all matured
installments of interest and principal and any premium has been deposited with the Trustee (in
accordance with Section 6.01(c)) and except in respect a provision hereof which, under Section



26









 





9.02, cannot be modified or amended without the consent of the holders of each Outstanding Security
affected; provided however that this Section shall not limit the right of holders of Securities of
a series to rescind and annul any acceleration as set forth in Section 6.01. Upon any such waiver,
the default covered thereby shall be deemed to be cured for all purposes of this Indenture and the
Company, the Trustee and the holders of the Securities of such series shall be restored to their
former positions and rights hereunder, respectively; but no such waiver shall extend to any
subsequent or other default or impair any right consequent thereon. The provisions which otherwise
would be automatically deemed to be contained in this Indenture pursuant to Section 316(a)(1) of
the Trust Indenture Act are hereby expressly excluded from this Indenture, except to the extent
such provisions are expressly included herein.




SECTION 6.07 Undertaking to Pay Costs.




     All parties to this Indenture agree, and each holder of any Securities by such holder’s
acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in
any suit for the enforcement of any right or remedy under this Indenture, or in any suit against
the Trustee for any action taken or omitted by it as Trustee, the filing by any party litigant in
such suit of an undertaking to pay the costs of such suit, and that such court may in its
discretion assess reasonable costs, including reasonable attorneys’ fees, against any party
litigant in such suit, having due regard to the merits and good faith of the claims or defenses
made by such party litigant; but the provisions of this Section shall not apply to any suit
instituted by the Trustee, to any suit instituted by any Securityholder, or group of
Securityholders, holding more than 10% in aggregate principal amount of the Outstanding Securities
of any series, or to any suit instituted by any Securityholder for the enforcement of the payment
of the principal of (or premium, if any) or interest on any Security of such series, on or after
the respective due dates expressed in such Security or established pursuant to this Indenture.



ARTICLE VII




CONCERNING THE TRUSTEE



SECTION 7.01 Certain Duties and Responsibilities of Trustee.





	 	(a)	 	The Trustee, prior to the occurrence of an Event of Default with respect to the
Securities of a series and after the curing of all Events of Default with respect to
the Securities of that series that may have occurred, shall undertake to perform with
respect to the Securities of such series such duties and only such duties as are
specifically set forth in this Indenture, and no implied covenants shall be read into
this Indenture against the Trustee. In case an Event of Default with respect to the
Securities of a series has occurred (that has not been cured or waived), the Trustee
shall exercise with respect to Securities of that series such of the rights and powers
vested in it by this Indenture, and use the same degree of care and skill in their
exercise, as a prudent man would exercise or use under the circumstances in the conduct
of his own affairs.
	 
	 	(b)	 	No provision of this Indenture shall be construed to relieve the Trustee from
liability for its own negligent action, its own negligent failure to act, or its own




27









 












	 	 	 	willful misconduct, except that:






	 	(1)	 	prior to the occurrence of an Event of Default with respect to
the Securities of a series and after the curing or waiving of all such Events
of Default with respect to that series that may have occurred:






	 	(i)	 	the duties and obligations of the Trustee shall
with respect to the Securities of such series be determined solely by
the express provisions of this Indenture, and the Trustee shall not be
liable with respect to the Securities of such series except for the
performance of such duties and obligations as are specifically set
forth in this Indenture, and no implied covenants or obligations shall
be read into this Indenture against the Trustee; and
	 
	 	(ii)	 	in the absence of bad faith on the part of the
Trustee, the Trustee may with respect to the Securities of such series
conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon any certificates or
opinions furnished to the Trustee and conforming to the requirements of
this Indenture; but in the case of any such certificates or opinions
that by any provision hereof are specifically required to be furnished
to the Trustee, the Trustee shall be under a duty to examine the same
to determine whether or not they conform to the requirement of this
Indenture;






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






	 	(3)	 	the Trustee shall not be liable with respect to any action
taken or omitted to be taken by it in good faith in accordance with the
direction of the holders of not less than a majority in principal amount of the
Securities of any series at the time Outstanding relating to the time, method
and place of conducting any proceeding for any remedy available to the Trustee,
or exercising any trust or power conferred upon the Trustee under this
Indenture with respect to the Securities of that series; and






	 	(4)	 	None of the provisions contained in this Indenture shall
require the Trustee to expend or risk its own funds or otherwise incur personal
financial liability in the performance of any of its duties or in the exercise
of any of its rights or powers, if there is reasonable ground for believing
that the repayment of such funds or liability is not reasonably assured to it
under the terms of this Indenture or adequate indemnity against such risk is
not reasonably assured to it.




28









 











SECTION
7.02 Certain Rights of Trustee.




     Except as otherwise provided in Section 7.01:




	 	(a)	 	The Trustee may rely and shall be protected in acting or refraining from acting
upon any resolution, certificate, statement, instrument, opinion, report, notice,
request, consent, order, approval, bond, security or other paper or document believed
by it to be genuine and to have been signed or presented by the proper party or
parties;
	 
	 	(b)	 	Any request, direction, order or demand of the Company mentioned herein shall
be sufficiently evidenced by a Board Resolution or an instrument signed in the name of
the Company, by the President or any Vice President and by the Secretary or an
Assistant Secretary or the Treasurer or an Assistant Treasurer thereof (unless other
evidence in respect thereof is specifically prescribed herein);
	 
	 	(c)	 	The Trustee may consult with counsel and the written advice of such counsel or
any Opinion of Counsel shall be full and complete authorization and protection in
respect of any action taken or suffered or omitted hereunder in good faith and in
reliance thereon;
	 
	 	(d)	 	The Trustee shall be under no obligation to exercise any of the rights or
powers vested in it by this Indenture at the request, order or direction of any of the
Securityholders, pursuant to the provisions of this Indenture, unless such
Securityholders shall have offered to the Trustee reasonable security or indemnity
against the costs, expenses and liabilities that may be incurred therein or thereby;
nothing contained herein shall, however, relieve the Trustee of the obligation, upon
the occurrence of an Event of Default with respect to a series of the Securities (that
has not been cured or waived) to exercise with respect to Securities of that series
such of the rights and powers vested in it by this Indenture, and to use the same
degree of care and skill in their exercise, as a prudent man would exercise or use
under the circumstances in the conduct of his own affairs;
	 
	 	(e)	 	The Trustee shall not be liable for any action taken or omitted to be taken by
it in good faith and believed by it to be authorized or within the discretion or rights
or powers conferred upon it by this Indenture;
	 
	 	(f)	 	The Trustee shall not be bound to make any investigation into the facts or
matters stated in any resolution, certificate, statement, instrument, opinion, report,
notice, request, consent, order, approval, bond, security, or other papers or
documents, unless requested in writing so to do by the holders of not less than a
majority in principal amount of the Outstanding Securities of the particular series
affected thereby (determined as provided in Section 8.04); provided, however, that if
the payment within a reasonable time to the Trustee of the costs, expenses or
liabilities likely to be incurred by it in the making of such investigation is, in the
opinion of the Trustee, not reasonably assured to the Trustee by the security




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	 	 	 	afforded to it by the terms of this Indenture, the Trustee may require reasonable
indemnity against such costs, expenses or liabilities as a condition to so
proceeding. The reasonable expense of every such examination shall be paid by the
Company or, if paid by the Trustee, shall be repaid by the Company upon demand; and
	 
	 	(g)	 	The Trustee may execute any of the trusts or powers hereunder or perform any
duties hereunder either directly or by or through agents or attorneys and the Trustee
shall not be responsible for any misconduct or negligence on the part of any agent or
attorney appointed with due care by it hereunder.





SECTION 7.03 Trustee Not Responsible for Recitals or Issuance of Securities.





	 	(a)	 	The recitals contained herein and in the Securities shall be taken as the
statements of the Company, and the Trustee assumes no responsibility for the
correctness of the same.
	 
	 	(b)	 	The Trustee makes no representations as to the validity or sufficiency of this
Indenture or of the Securities.
	 
	 	(c)	 	The Trustee shall not be accountable for the use or application by the Company
of any of the Securities or of the proceeds of such Securities, or for the use or
application of any moneys paid over by the Trustee in accordance with any provision of
this Indenture or established pursuant to Section 2.01, or for the use or application
of any moneys received by any paying agent other than the Trustee.





SECTION 7.04 May Hold Securities.




     The Trustee or any paying agent or Security Registrar, in its individual or any other
capacity, may become the owner or pledgee of Securities with the same rights it would have if it
were not Trustee, paying agent or Security Registrar.



SECTION 7.05 Moneys Held in Trust.




     Subject to the provisions of Section 11.05, all moneys received by the Trustee shall, until
used or applied as herein provided, be held in trust for the purposes for which they were received,
but need not be segregated from other funds except to the extent required by law. The Trustee shall
be under no liability for interest on any moneys received by it hereunder except such as it may
agree with the Company to pay thereon.



SECTION 7.06 Compensation and Reimbursement.





	 	(a)	 	The Company covenants and agrees to pay to the Trustee, and the Trustee shall
be entitled to, such reasonable compensation (which shall not be limited by any
provision of law in regard to the compensation of a trustee of an express trust), as
the Company, and the Trustee may from time to time agree in writing, for all services
rendered by it in the execution of the trusts hereby created and in the exercise and
performance of any of the powers and duties hereunder of the




30









 












	 	 	 	Trustee, and, except as otherwise expressly provided herein, the Company will pay or
reimburse the Trustee upon its request for all reasonable expenses, disbursements
and advances incurred or made by the Trustee in accordance with any of the
provisions of this Indenture (including the reasonable compensation and the expenses
and disbursements of its counsel and of all Persons not regularly in its employ)
except any such expense, disbursement or advance as may arise from its negligence or
bad faith. The Company also covenants to indemnify the Trustee (and its officers,
agents, directors and employees) for, and to hold it harmless against, any loss,
liability or expense incurred without negligence or bad faith on the part of the
Trustee and arising out of or in connection with the acceptance or administration of
this trust, including the costs and expenses of defending itself against any claim
of liability in the premises.
	 
	 	(b)	 	The obligations of the Company under this Section to compensate and indemnify
the Trustee and to pay or reimburse the Trustee for expenses, disbursements and
advances shall constitute additional indebtedness hereunder. Such additional
indebtedness shall be secured by a lien prior to that of the Securities upon all
property and funds held or collected by the Trustee as such, except funds held in trust
for the benefit of the holders of particular Securities.





SECTION 7.07 Reliance on Officers’ Certificate.




     Except as otherwise provided in Section 7.01, whenever in the administration of the provisions
of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or
established prior to taking or suffering or omitting to take any action hereunder, such matter
(unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of
negligence or bad faith on the part of the Trustee, be deemed to be conclusively proved and
established by an Officers’ Certificate delivered to the Trustee and such certificate, in the
absence of negligence or bad faith on the part of the Trustee, shall be full warrant to the Trustee
for any action taken, suffered or omitted to be taken by it under the provisions of this Indenture
upon the faith thereof.



SECTION 7.08 Disqualification; Conflicting Interests.




     If the Trustee has or shall acquire any “conflicting interest” within the meaning of Section
310(b) of the Trust Indenture Act, the Trustee and the Company shall in all respects comply with
the provisions of Section 310(b) of the Trust Indenture Act.



SECTION 7.09 Corporate Trustee Required; Eligibility.




     There shall at all times be a Trustee with respect to the Securities issued hereunder which
shall at all times be a corporation organized and doing business under the laws of the United
States of America or any State or Territory thereof or of the District of Columbia, or a
corporation or other Person permitted to act as trustee by the Commission, authorized under such
laws to exercise corporate trust powers, having a combined capital and surplus of at least 50
million U.S. dollars ($50,000,000), and subject to supervision or examination by Federal, State,
Territorial, or District of Columbia authority. If such corporation publishes reports of condition



31









 





at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining
authority, then for the purposes of this Section, the combined capital and surplus of such
corporation shall be deemed to be its combined capital and surplus as set forth in its most recent
report of condition so published. The Company may not, nor may any Person directly or indirectly
controlling, controlled by, or under common control with the Company, serve as Trustee. In case at
any time the Trustee shall cease to be eligible in accordance with the provisions of this Section,
the Trustee shall resign immediately in the manner and with the effect specified in Section 7.10.




SECTION 7.10 Resignation and Removal; Appointment of Successor.





	 	(a)	 	The Trustee or any successor hereafter appointed, may at any time resign with
respect to the Securities of one or more series by giving written notice thereof to the
Company and by transmitting notice of resignation by mail, first class postage prepaid,
to the Securityholders of such series, as their names and addresses appear upon the
Security Register. Upon receiving such notice of resignation, the Company shall
promptly appoint a successor trustee with respect to Securities of such series by
written instrument, in duplicate, executed by order of the Board of Directors, one copy
of which instrument shall be delivered to the resigning Trustee and one copy to the
successor trustee. If no successor trustee shall have been so appointed and have
accepted appointment within 30 days after the mailing of such notice of resignation,
the resigning Trustee may petition any court of competent jurisdiction for the
appointment of a successor trustee with respect to Securities of such series, or any
Securityholder of that series who has been a bona fide holder of a Security or
Securities for at least six months may on behalf of himself and all others similarly
situated, petition any such court for the appointment of a successor trustee. Such
court may thereupon after such notice, if any, as it may deem proper and prescribe,
appoint a successor trustee.
	 
	 	(b)	 	In case at any time any one of the following shall occur:






	 	(1)	 	the Trustee shall fail to comply with the provisions of Section
7.08 after written request therefor by the Company or by any Securityholder who
has been a bona fide holder of a Security or Securities for at least six
months; or
	 
	 	(2)	 	the Trustee shall cease to be eligible in accordance with the
provisions of Section 7.09 and shall fail to resign after written request
therefor by the Company or by any such Securityholder; or
	 
	 	(3)	 	the Trustee shall become incapable of acting, or shall be
adjudged a bankrupt or insolvent, or commence a voluntary bankruptcy
proceeding, or a receiver of the Trustee or of its property shall be appointed
or consented to, or any public officer shall take charge or control of the
Trustee or of its property or affairs for the purpose of rehabilitation,
conservation or liquidation, then, in any such case, the Company may remove the
Trustee with respect to all Securities and appoint a successor




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	 	 	 	trustee by written instrument, in duplicate, executed by order of the Board
of Directors, one copy of which instrument shall be delivered to the Trustee
so removed and one copy to the successor trustee, or, unless the Trustee’s
duty to resign is stayed as provided herein, any Securityholder who has been
a bona fide holder of a Security or Securities for at least six months may,
on behalf of that holder and all others similarly situated, petition any
court of competent jurisdiction for the removal of the Trustee and the
appointment of a successor trustee. Such court may thereupon after such
notice, if any, as it may deem proper and prescribe, remove the Trustee and
appoint a successor trustee.






	 	(c)	 	The holders of a majority in aggregate principal amount of the Securities of
any series at the time Outstanding may at any time remove the Trustee with respect to
such series by so notifying the Trustee and the Company and may appoint a successor
Trustee for such series with the consent of the Company.
	 
	 	(d)	 	Any resignation or removal of the Trustee and appointment of a successor
trustee with respect to the Securities of a series pursuant to any of the provisions of
this Section shall become effective upon acceptance of appointment by the successor
trustee as provided in Section 7.11.
	 
	 	(e)	 	Any successor trustee appointed pursuant to this Section may be appointed with
respect to the Securities of one or more series or all of such series, and at any time
there shall be only one Trustee with respect to the Securities of any particular
series.





SECTION 7.11 Acceptance of Appointment By Successor.





	 	(a)	 	In case of the appointment hereunder of a successor trustee with respect to all
Securities, every such successor trustee so appointed shall execute, acknowledge and
deliver to the Company and to the retiring Trustee an instrument accepting such
appointment, and thereupon the resignation or removal of the retiring Trustee shall
become effective and such successor trustee, without any further act, deed or
conveyance, shall become vested with all the rights, powers, trusts and duties of the
retiring Trustee; but, on the request of the Company or the successor trustee, such
retiring Trustee shall, upon payment of its charges, execute and deliver an instrument
transferring to such successor trustee all the rights, powers, and trusts of the
retiring Trustee and shall duly assign, transfer and deliver to such successor trustee
all property and money held by such retiring Trustee hereunder.
	 
	 	(b)	 	In case of the appointment hereunder of a successor trustee with respect to the
Securities of one or more (but not all) series, the Company, the retiring Trustee and
each successor trustee with respect to the Securities of one or more series shall
execute and deliver an indenture supplemental hereto wherein each successor trustee
shall accept such appointment and which (1) shall contain such provisions as shall be
necessary or desirable to transfer and confirm to, and to vest in, each successor
trustee all the rights, powers, trusts and duties of the retiring




33









 












	 	 	 	Trustee with respect to the Securities of that or those series to which the
appointment of such successor trustee relates, (2) shall contain such provisions as
shall be deemed necessary or desirable to confirm that all the rights, powers,
trusts and duties of the retiring Trustee with respect to the Securities of that or
those series as to which the retiring Trustee is not retiring shall continue to be
vested in the retiring Trustee, and (3) shall add to or change any of the provisions
of this Indenture as shall be necessary to provide for or facilitate the
administration of the trusts hereunder by more than one Trustee, it being understood
that nothing herein or in such supplemental indenture shall constitute such Trustees
co-trustees of the same trust, that each such Trustee shall be trustee of a trust or
trusts hereunder separate and apart from any trust or trusts hereunder administered
by any other such Trustee and that no Trustee shall be responsible for any act or
failure to act on the part of any other Trustee hereunder; and upon the execution
and delivery of such supplemental indenture the resignation or removal of the
retiring Trustee shall become effective to the extent provided therein, such
retiring Trustee shall with respect to the Securities of that or those series to
which the appointment of such successor trustee relates have no further
responsibility for the exercise of rights and powers or for the performance of the
duties and obligations vested in the Trustee under this Indenture, and each such
successor trustee, without any further act, deed or conveyance, shall become vested
with all the rights, powers, trusts and duties of the retiring Trustee with respect
to the Securities of that or those series to which the appointment of such successor
trustee relates; but, on request of the Company or any successor trustee, such
retiring Trustee shall duly assign, transfer and deliver to such successor trustee,
to the extent contemplated by such supplemental indenture, the property and money
held by such retiring Trustee hereunder with respect to the Securities of that or
those series to which the appointment of such successor trustee relates.
	 
	 	(c)	 	Upon request of any such successor trustee, the Company shall execute any and
all instruments for more fully and certainly vesting in and confirming to such
successor trustee all such rights, powers and trusts referred to in paragraph (a) or
(b) of this Section, as the case may be.
	 
	 	(d)	 	No successor trustee shall accept its appointment unless at the time of such
acceptance such successor trustee shall be qualified and eligible under this Article.
	 
	 	(e)	 	Upon acceptance of appointment by a successor trustee as provided in this
Section, the Company shall transmit notice of the succession of such trustee hereunder
by mail, first class postage prepaid, to the Securityholders, as their names and
addresses appear upon the Security Register. If the Company fails to transmit such
notice within ten days after acceptance of appointment by the successor trustee, the
successor trustee shall cause such notice to be transmitted at the expense of the
Company.




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SECTION 7.12 Merger, Conversion, Consolidation or Succession to Business.




     Any corporation into which the Trustee may be merged or converted or with which it may be
consolidated, or any corporation resulting from any merger, conversion or consolidation to which
the Trustee shall be a party, or any corporation succeeding to the corporate trust business of the
Trustee, shall be the successor of the Trustee hereunder, provided that such corporation shall be
qualified under the provisions of Section 7.08 and eligible under the provisions of Section 7.09,
without the execution or filing of any paper or any further act on the part of any of the parties
hereto, anything herein to the contrary notwithstanding. In case any Securities shall have been
authenticated, but not delivered, by the Trustee then in office, any successor by merger,
conversion or consolidation to such authenticating Trustee may adopt such authentication and
deliver the Securities so authenticated with the same effect as if such successor Trustee had
itself authenticated such Securities.



SECTION 7.13 Preferential Collection of Claims Against the Company.




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



ARTICLE VIII




CONCERNING THE SECURITYHOLDERS



SECTION 8.01 Evidence of Action by Securityholders.




     Whenever in this Indenture it is provided that the holders of a majority or specified
percentage in aggregate principal amount of the Securities of a particular series may take any
action (including the making of any demand or request, the giving of any notice, consent or waiver
or the taking of any other action), the fact that at the time of taking any such action the holders
of such majority or specified percentage of that series have joined therein may be evidenced by any
instrument or any number of instruments of similar tenor executed by such holders of Securities of
that series in Person or by agent or proxy appointed in writing.



     If the Company shall solicit from the Securityholders of any series any request, demand,
authorization, direction, notice, consent, waiver or other action, the Company may, at its option,
as evidenced by an Officers’ Certificate, fix in advance a record date for such series for the
determination of Securityholders entitled to give such request, demand, authorization, direction,
notice, consent, waiver or other action, but the Company shall have no obligation to do so. If such
a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or
other action may be given before or after the record date, but only the Securityholders of record
at the close of business on the record date shall be deemed to be Securityholders for the purposes
of determining whether Securityholders of the requisite proportion of Outstanding Securities of
that series have authorized or agreed or consented to such request, demand, authorization,
direction, notice, consent, waiver or other action, and for that purpose the



35









 





Outstanding Securities of that series shall be computed as of the record date; provided, however,
that no such authorization, agreement or consent by such Securityholders on the record date shall
be deemed effective unless it shall become effective pursuant to the provisions of this Indenture
not later than six months after the record date.




SECTION 8.02 Proof of Execution by Securityholders.




     Subject to the provisions of Section 7.01, proof of the execution of any instrument by a
Securityholder (such proof will not require notarization) or his agent or proxy and proof of the
holding by any Person of any of the Securities shall be sufficient if made in the following manner:




	 	(a)	 	The fact and date of the execution by any such Person of any instrument may be
proved in any reasonable manner acceptable to the Trustee.
	 
	 	(b)	 	The ownership of Securities shall be proved by the Security Register of such
Securities or by a certificate of the Security Registrar thereof.
	 
	 	(c)	 	The Trustee may require such additional proof of any matter referred to in this
Section as it shall deem necessary.





SECTION 8.03 Who May be Deemed Owners.




     Prior to the due presentment for registration of transfer of any Security, the Company, the
Trustee, any paying agent and any Security Registrar may deem and treat the Person in whose name
such Security shall be registered upon the books of the Company as the absolute owner of such
Security (whether or not such Security shall be overdue and notwithstanding any notice of ownership
or writing thereon made by anyone other than the Security Registrar) for the purpose of receiving
payment of or on account of the principal of, premium, if any, and (subject to Section 2.03)
interest on such Security and for all other purposes; and neither the Company nor the Trustee nor
any paying agent nor any Security Registrar shall be affected by any notice to the contrary.



SECTION 8.04 Certain Securities Owned by Company Disregarded.




     In determining whether the holders of the requisite aggregate principal amount of Securities
of a particular series have concurred in any direction, consent of waiver under this Indenture, the
Securities of that series that are owned by the Company or any other obligor on the Securities of
that series or by any Person directly or indirectly controlling or controlled by or under common
control with the Company or any other obligor on the Securities of that series shall be disregarded
and deemed not to be Outstanding for the purpose of any such determination, except that for the
purpose of determining whether the Trustee shall be protected in relying on any such direction,
consent or waiver, only Securities of such series that the Trustee actually knows are so owned
shall be so disregarded. The Securities so owned that have been pledged in good faith may be
regarded as Outstanding for the purposes of this Section, if the pledgee shall establish to the
satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that
the pledgee is not a Person directly or indirectly controlling or controlled by or under direct or
indirect common control with the Company or any such other



36









 





obligor. In case of a dispute as to such right, any decision by the Trustee taken upon the advice
of counsel shall be full protection to the Trustee.




SECTION 8.05 Actions Binding on Future Securityholders.




     At any time prior to (but not after) the evidencing to the Trustee, as provided in Section
8.01, of the taking of any action by the holders of the majority or percentage in aggregate
principal amount of the Securities of a particular series specified in this Indenture in connection
with such action, any holder of a Security of that series that is shown by the evidence to be
included in the Securities the holders of which have consented to such action may, by filing
written notice with the Trustee, and upon proof of holding as provided in Section 8.02, revoke such
action so far as concerns such Security. Except as aforesaid any such action taken by the holder of
any Security shall be conclusive and binding upon such holder and upon all future holders and
owners of such Security, and of any Security issued in exchange therefor, on registration of
transfer thereof or in place thereof, irrespective of whether or not any notation in regard thereto
is made upon such Security. Any action taken by the holders of the majority or percentage in
aggregate principal amount of the Securities of a particular series specified in this Indenture in
connection with such action shall be conclusively binding upon the Company, the Trustee and the
holders of all the Securities of that series.



SECTION 8.06 Purposes for Which Meetings May Be Called.




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



     Notwithstanding anything contained in this Article VIII, the Trustee may, during the pendency
of a Default or an Event of Default, call a meeting of holders of any series of Securities in
accordance with its standard practices.



SECTION 8.07 Call Notice and Place of Meetings.





	 	(a)	 	The Trustee may at any time call a meeting of holders of any series of
Securities for any purpose specified in Section 8.06 hereof, to be held at such time
and at such place in The City of New York or Boston, Massachusetts. Notice of every
meeting of holders of any series of Securities, setting forth the time and the place of
such meeting, in general terms the action proposed to be taken at such meeting and the
percentage of the principal amount of the Outstanding Securities of such series which
shall constitute a quorum at such meeting, shall be given, in the manner provided in
Section 13.04 hereof, not less than 21 nor more than 180 days prior to the date fixed
for the meeting to holders of Outstanding Securities of such series.






	 	(b)	 	In case at any time the Company, pursuant to a Board Resolution, or the holders
of at least 10% in principal amount of the Outstanding Securities of any series shall
have requested the Trustee to call a meeting of the holders of Securities of such
series for any purpose specified in Section 8.06 hereof, by written request




37









 












	 	 	 	setting forth in reasonable detail the action proposed to be taken at the meeting,
and the Trustee shall not have made the first publication of the notice of such
meeting within 21 days after receipt of such request or shall not thereafter proceed
to cause the meeting to be held as provided herein, then the Company or the holders
of Securities of such series in the amount specified, as the case may be, may
determine the time and the place in The City of New York or Boston, Massachusetts
for such meeting and may call such meeting for such purposes by giving notice
thereof as provided in paragraph (a) of this Section.





SECTION 8.08 Persons Entitled To Vote at Meetings.




     To be entitled to vote at any meeting of holders of Securities of a given series, a Person
shall be (a) a holder of one or more Outstanding Securities of such series or (b) a Person
appointed by an instrument in writing as proxy for a holder or holders of one or more Outstanding
Securities of such series by such holder or holders. The only Persons who shall be entitled to be
present or to speak at any meeting of holders shall be the Persons entitled to vote at such meeting
and their counsel, any representatives of the Trustee and its counsel and any representatives of
the Company and its counsel.



SECTION 8.09 Quorum; Action.




     The Persons entitled to vote a majority in aggregate principal amount of the Outstanding
Securities of a given series shall constitute a quorum with respect to a meeting of holders of
Outstanding Securities of such series. In the absence of a quorum within 30 minutes of the time
appointed for any such meeting, the meeting shall, if convened at the request of holders of
Securities of such series, be dissolved. In any other case, the meeting may be adjourned for a
period of not less than 10 days as determined by the chairman of the meeting prior to the
adjournment of such meeting. In the absence of a quorum at any such adjourned meeting, such
adjourned meeting may be further adjourned for a period of not less than 10 days as determined by
the chairman of the meeting prior to the adjournment of such adjourned meeting. Notice of the
reconvening of any adjourned meeting shall be given as provided in Section 8.07(a) hereof, except
that such notice need be given only once and not less than five days prior to the date on which the
meeting is scheduled to be reconvened.



     At a meeting or an adjourned meeting duly reconvened and at which a quorum is present as
aforesaid, any resolution and all matters (except as limited by the proviso to the first paragraph
of Section 9.02 hereof) shall be effectively passed and decided if passed or decided by the Persons
entitled to vote not less than a majority in aggregate principal amount of Outstanding Securities
of a series represented and voting at such meeting with respect to a meeting of holders of
Outstanding Securities of such series.



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



SECTION 8.10 Determination of Voting Rights; Conduct and Adjournment of Meetings.





	 	(a)	 	Notwithstanding any other provisions of this Indenture, the Trustee may make




38









 












	 	 	 	such reasonable regulations as it may deem advisable for any meeting of holders of
Securities in regard to proof of the holding of Securities and of the appointment of
proxies and in regard to the appointment and duties of inspectors of votes, the
submission and examination of proxies, certificates and other evidence of the right
to vote, and such other matters concerning the conduct of the meeting as it shall
deem appropriate.






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






	 	(c)	 	At any meeting, each holder of a Security of the series in respect of which
such meeting is being held or proxy shall be entitled to one vote for each $1,000
principal amount of Securities of such series held or represented by him; provided,
however, that no vote shall be cast or counted at any meeting in respect of any
Security of such series challenged as not Outstanding and ruled by the chairman of the
meeting to be not Outstanding. The chairman of the meeting shall have no right to
vote, except as a holder of a Security of such series or proxy.
	 
	 	(d)	 	Any meeting of holders of Securities duly called pursuant to Section 8.07
hereof at which a quorum is present may be adjourned from time to time by Persons
entitled to vote a majority in principal amount of the Outstanding Securities of the
series in respect of which such meeting is being held represented at the meeting, and
the meeting may be held as so adjourned without further notice.





SECTION 8.11 Counting Votes and Recording Action of Meetings.




     The vote upon any resolution submitted to any meeting of holders of Securities of a given
series shall be by written ballots on which shall be subscribed the signatures of the holders of
Securities of such series or of their representatives by proxy and the principal amounts and serial
numbers of the Outstanding Securities of such series held or represented by them. The permanent
chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the
meeting for or against any resolution and who shall make and file with the secretary of the meeting
their verified written reports in duplicate of all votes cast at the meeting. A record, at least
in duplicate, of the proceedings of each meeting of holders of Securities of such series shall be
prepared by the secretary of the meeting and there shall be attached to said record the original
reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or
more Persons having knowledge of the facts setting forth a copy of the notice of the meeting and
showing that said notice was given as provided in Section 8.07 hereof and, if applicable, Section
8.09 hereof. Each copy shall be signed and verified by the affidavits of



39









 





the permanent chairman and secretary of the meeting and one such copy shall be delivered to the
Company and another to the Trustee to be preserved by the Trustee, the latter to have attached
thereto the ballots voted at the meeting. Any record so signed and verified shall be conclusive
evidence of the matters therein stated.




ARTICLE IX




SUPPLEMENTAL INDENTURES



SECTION 9.01 Supplemental Indentures Without the Consent of Securityholders.




     In addition to any supplemental indenture otherwise authorized by this Indenture, the Company
and the Trustee may from time to time and at any time enter into an indenture or indentures
supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as then in
effect), without the consent of the Securityholders, for one or more of the following purposes:




	 	(a)	 	cure any ambiguity, correct or supplement any provision herein which may be
inconsistent with any other provision herein or which is otherwise defective, or make
any other provisions with respect to matters or questions arising under this Indenture
which the Company and the Trustee may deem necessary or desirable and which shall not
be inconsistent with the provisions of this Indenture;
	 
	 	(b)	 	to comply with Article X;
	 
	 	(c)	 	to provide for uncertificated Securities in addition to or in place of
certificated Securities;
	 
	 	(d)	 	to add to the covenants of the Company for the benefit of the holders of all or
any Series of Securities (and if such covenants are to be for the benefit of less than
all series of Securities, stating that such covenants are expressly being included
solely for the benefit of such series) or to surrender any right or power herein
conferred upon the Company;
	 
	 	(e)	 	to add to, delete from, or revise the conditions, limitations, and restrictions
on the authorized amount, terms, or purposes of issue, authentication, and delivery of
Securities, as herein set forth;
	 
	 	(f)	 	to make any change that does not adversely affect the rights of any
Securityholder in any material respect;
	 
	 	(g)	 	to provide for the issuance of and establish the form and terms and conditions
of the Securities of any series as provided in Section 2.01, to establish the form of
any certifications required to be furnished pursuant to the terms of this Indenture or
any series of Securities, or to add to the rights of the holders of any series of
Securities; or
	 
	 	(h)	 	comply with the requirements of the Commission in order to effect or maintain




40









 












	 	 	 	the qualification of this Indenture under the Trust Indenture Act.





     The Trustee is hereby authorized to join with the Company in the execution of any such
supplemental indenture, and to make any further appropriate agreements and stipulations that may be
therein contained, but the Trustee shall not be obligated to enter into any such supplemental
indenture that affects the Trustee’s own rights, duties or immunities under this Indenture or
otherwise.



     Any supplemental indenture authorized by the provisions of this Section may be executed by the
Company and the Trustee without the consent of the holders of any of the Securities at the time
Outstanding, notwithstanding any of the provisions of Section 9.02.



SECTION 9.02 Supplemental Indentures With Consent of Securityholders.




     With the written consent of the holders of at least a majority in aggregate principal amount
of the Outstanding Securities of any series or by action at a meeting of holders of the Securities
of such series in accordance with Section 8.09, by the holders of a majority in aggregate principal
amount of the Securities of such series then Outstanding represented at such meeting, the Company,
when authorized by Board Resolutions, and the Trustee may from time to time and at any time enter
into an indenture or indentures supplemental hereto (which shall conform to the provisions of the
Trust Indenture Act as then in effect) for the purpose of adding any provisions to or changing in
any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture
or of modifying in any manner not covered by Section 9.01 the rights of the holders of the
Securities of such series under this Indenture; provided, however, that no such supplemental
indenture shall, without the consent of the holders of each Security then Outstanding and affected
thereby, (i) extend the fixed maturity of any Securities of any series, or reduce the principal
amount thereof, or reduce the rate or extend the time of payment of interest thereon, or reduce any
premium payable upon the redemption thereof, (ii) reduce the aforesaid percentage of Securities,
the holders of which are required to consent to any such supplemental indenture, or any consent or
waiver, (iii) reduce the principal amount of discount securities payable upon acceleration of the
maturity of any Securities of any series or (iv) make the principal of or premium or interest on
any Security of a series payable in currency or currency units other than that stated in the
Securities of such series.



     It shall not be necessary for the consent of the Securityholders of any series affected
thereby under this Section to approve the particular form of any proposed supplemental indenture,
but it shall be sufficient if such consent shall approve the substance thereof.



SECTION 9.03 Effect of Supplemental Indentures.




     Upon the execution of any supplemental indenture pursuant to the provisions of this Article or
of Section 10.01, this Indenture shall, with respect to such series, be and be deemed to be
modified and amended in accordance therewith and the respective rights, limitations of rights,
obligations, duties and immunities under this Indenture of the Trustee, the Company and the holders
of Securities of the series affected thereby shall thereafter be determined, exercised and enforced
hereunder subject in all respects to such modifications and amendments, and all the



41









 





terms and conditions of any such supplemental indenture shall be and be deemed to be part of the
terms and conditions of this Indenture for any and all purposes.




SECTION 9.04 Securities Affected by Supplemental Indentures.




     Securities of any series affected by a supplemental indenture, authenticated and delivered
after the execution of such supplemental indenture pursuant to the provisions of this Article or of
Section 10.01, may bear a notation in form approved by the Company, provided such form meets the
requirements of any exchange upon which such series may be listed, as to any matter provided for in
such supplemental indenture. If the Company shall so determine, new Securities of that series so
modified as to conform, in the opinion of the Board of Directors of the Company, to any
modification of this Indenture contained in any such supplemental indenture may be prepared by the
Company, authenticated by the Trustee and delivered in exchange for the Securities of that series
then Outstanding.



SECTION 9.05 Execution of Supplemental Indentures.




     Upon the request of the Company, accompanied by its Board Resolutions authorizing the
execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of
the consent of Securityholders required to consent thereto as aforesaid, the Trustee shall join
with the Company in the execution of such supplemental indenture unless such supplemental indenture
affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which
case the Trustee may in its discretion but shall not be obligated to enter into such supplemental
indenture. The Trustee, subject to the provisions of Section 7.01, may receive an Opinion of
Counsel as conclusive evidence that any supplemental indenture executed pursuant to this Article is
authorized or permitted by, and conforms to, the terms of this Article and that it is proper for
the Trustee under the provisions of this Article to join in the execution thereof; provided,
however, that such Opinion of Counsel need not be provided in connection with the execution of a
supplemental indenture that establishes the terms of a series of Securities pursuant to Section
2.01 hereof.



     Promptly after the execution by the Company and the Trustee of any supplemental indenture
pursuant to the provisions of this Section, the Trustee shall transmit by mail, first class postage
prepaid, a notice, setting forth in general terms the substance of such supplemental indenture, to
the Securityholders of all series affected thereby as their names and addresses appear upon the
Security Register. Any failure of the Trustee to mail such notice, or any defect therein, shall
not, however, in any way impair or affect the validity of any such supplemental indenture.



ARTICLE X




SUCCESSOR ENTITY



SECTION 10.01 Company May Consolidate, Etc.




     Nothing contained in this Indenture or in any of the Securities shall prevent any
consolidation or merger of the Company with or into any other Person (whether or not affiliated
with the Company) or successive consolidations or mergers in which the Company or its



42









 





successor or successors shall be a party or parties, or shall prevent any sale, conveyance,
transfer or other disposition of the property of the Company or its successor or successors as an
entirety, or substantially as an entirety, to any other corporation (whether or not affiliated with
the Company or its successor or successors) authorized to acquire and operate the same; provided,
however, the Company hereby covenants and agrees that, upon any such consolidation or merger (in
each case, if the Company is not the survivor of such transaction), sale, conveyance, transfer or
other disposition, the due and punctual payment of the principal of (premium, if any) and interest
on all of the Securities of all series in accordance with the terms of each series, according to
their tenor and the due and punctual performance and observance of all the covenants and conditions
of this Indenture with respect to each series or established with respect to such series pursuant
to Section 2.01 to be kept or performed by the Company shall be expressly assumed, by supplemental
indenture (which shall conform to the provisions of the Trust Indenture Act, as then in effect)
satisfactory in form to the Trustee executed and delivered to the Trustee by the entity formed by
such consolidation, or into which the Company shall have been merged, or by the entity which shall
have acquired such property.




SECTION 10.02 Successor Entity Substituted.





	 	(a)	 	In case of any such consolidation, merger, sale, conveyance, transfer or other
disposition and upon the assumption by the successor entity by supplemental indenture,
executed and delivered to the Trustee and satisfactory in form to the Trustee, of the
due and punctual payment of the principal of, premium, if any, and interest on all of
the Securities of all series Outstanding and the due and punctual performance of all of
the covenants and conditions of this Indenture or established with respect to each
series of the Securities pursuant to Section 2.01 to be performed by the Company with
respect to each series, such successor entity shall succeed to and be substituted for
the Company with the same effect as if it had been named as the Company herein, and
thereupon the predecessor corporation shall be relieved of all obligations and
covenants under this Indenture and the Securities.
	 
	 	(b)	 	In case of any such consolidation, merger, sale, conveyance, transfer or other
disposition such changes in phraseology and form (but not in substance) may be made in
the Securities thereafter to be issued as may be appropriate.
	 
	 	(c)	 	Nothing contained in this Article shall require any action by the Company in
the case of a consolidation or merger of any Person into the Company where the Company
is the survivor of such transaction, or the acquisition by the Company, by purchase or
otherwise, of all or any part of the property of any other Person (whether or not
affiliated with the Company).





SECTION 10.03 Evidence of Consolidation, Etc. to Trustee.




     The Trustee, subject to the provisions of Section 7.01, may receive an Opinion of Counsel as
conclusive evidence that any such consolidation, merger, sale, conveyance, transfer or other
disposition, and any such assumption, comply with the provisions of this Article.



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ARTICLE XI




SATISFACTION AND DISCHARGE



SECTION 11.01 Satisfaction and Discharge of Indenture.




     If at any time: (a) the Company shall have delivered to the Trustee for cancellation all
Securities of a series theretofore authenticated (other than any Securities that shall have been
destroyed, lost or stolen and that shall have been replaced or paid as provided in Section 2.07)
and Securities for whose payment money or Governmental Obligations have theretofore been deposited
in trust or segregated and held in trust by the Company (and thereupon repaid to the Company or
discharged from such trust, as provided in Section 11.05); or (b) all such Securities of a
particular series not theretofore delivered to the Trustee for cancellation shall have become due
and payable, or are by their terms to become due and payable within one year or are to be called
for redemption within one year under arrangements satisfactory to the Trustee for the giving of
notice of redemption, and the Company shall deposit or cause to be deposited with the Trustee as
trust funds the entire amount in moneys or Governmental Obligations sufficient or a combination
thereof, sufficient (assuming that no tax liability will be imposed on the Trustee) in the opinion
of a nationally recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee, to pay at maturity or upon redemption all
Securities of that series not theretofore delivered to the Trustee for cancellation, including
principal (and premium, if any) and interest due or to become due to such date of maturity or date
fixed for redemption, as the case may be, and if the Company shall also pay or cause to be paid all
other sums payable hereunder with respect to such series by the Company then this Indenture shall
thereupon cease to be of further effect with respect to such series except for the provisions of
Sections 2.03, 2.05, 2.07, 4.01, 4.02, 4.03 and 7.10, that shall survive until the date of maturity
or redemption date, as the case may be, and Sections 7.06 and 11.05, that shall survive to such
date and thereafter, and the Trustee, on demand of the Company and at the cost and expense of the
Company shall execute proper instruments acknowledging satisfaction of and discharging this
Indenture with respect to such series.



SECTION 11.02 Discharge of Obligations.




     If at any time all such Securities of a particular series not heretofore delivered to the
Trustee for cancellation or that have not become due and payable as described in Section 11.01
shall have been paid by the Company by depositing irrevocably with the Trustee as trust funds
moneys or an amount of Governmental Obligations sufficient to pay at maturity or upon redemption
all such Securities of that series not theretofore delivered to the Trustee for cancellation,
including principal (and premium, if any) and interest due or to become due to such date of
maturity or date fixed for redemption, as the case may be, and if the Company shall also pay or
cause to be paid all other sums payable hereunder by the Company with respect to such series, then
after the date such moneys or Governmental Obligations, as the case may be, are deposited with the
Trustee the obligations of the Company under this Indenture with respect to such series shall cease
to be of further effect except for the provisions of Sections 2.03, 2.05, 2.07, 4,01, 4.02, 4,03,
7.06, 7.10 and 11.05 hereof that shall survive until such Securities shall mature and be paid.
Thereafter, Sections 7.06 and 11.05 shall survive.



44









 





SECTION 11.03 Deposited Moneys to be Held in Trust.




     Subject to Section 11.05, all moneys or Governmental Obligations deposited with the Trustee
pursuant to Sections 11.01 or 11.02 shall be held in trust and shall be available for payment as
due, either directly or through any paying agent (including the Company acting as its own paying
agent), to the holders of the particular series of Securities for the payment or redemption of
which such moneys or Governmental Obligations have been deposited with the Trustee.



SECTION 11.04 Payment of Moneys Held by Paying Agents.




     In connection with the satisfaction and discharge of this Indenture all moneys or Governmental
Obligations then held by any paying agent under the provisions of this Indenture shall, upon demand
of the Company, be paid to the Trustee and thereupon such paying agent shall be released from all
further liability with respect to such moneys or Governmental Obligations.



SECTION 11.05 Repayment to Company.




     Any moneys or Governmental Obligations deposited with any paying agent or the Trustee, or then
held by the Company, in trust for payment of principal of or premium or interest on the Securities
of a particular series that are not applied but remain unclaimed by the holders of such Securities
for two years after the date upon which the principal of (and premium, if any) or interest on such
Securities shall have respectively become due and payable, shall be repaid to the Company or (if
then held by the Company) shall be discharged from such trust in each case, promptly after the end
of any such two-year period or, at the request of the Company, on a later date specified by the
Company; and thereupon the paying agent and the Trustee shall be released from all further
liability with respect to such moneys or Governmental Obligations, and the holder of any of the
Securities entitled to receive such payment shall thereafter, as an unsecured general creditor,
look only to the Company for the payment thereof.



ARTICLE XII




IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS



SECTION 12.01 No Recourse.




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



45









 





in this Indenture or in any of the Securities or implied therefrom; and that any and all such
personal liability of every name and nature, either at common law or in equity or by constitution
or statute, of, and any and all such rights and claims against, every such incorporator,
stockholder, officer or director as such, because of the creation of the indebtedness hereby
authorized, or under or by reason of the obligations, covenants or agreements contained in this
Indenture or in any of the Securities or implied therefrom, are hereby expressly waived and
released as a condition of, and as a consideration for, the execution of this Indenture and the
issuance of such Securities.




ARTICLE XIII




MISCELLANEOUS PROVISIONS



SECTION 13.01 Effect on Successors and Assigns.




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



SECTION 13.02 Actions by Successor.




     Any act or proceeding by any provision of this Indenture authorized or required to be done or
performed by any board, committee or officer of the Company shall and may be done and performed
with like force and effect by the corresponding board, committee or officer of any corporation that
shall at the time be the lawful successor of the Company.



SECTION 13.03 Surrender of Company Powers.




     The Company by instrument in writing executed by authority of its Board of Directors and
delivered to the Trustee may surrender any of the powers reserved to the Company, and thereupon
such power so surrendered shall terminate both as to the Company and as to any successor
corporation.



SECTION 13.04 Notices.




     Except as otherwise expressly provided herein any notice or demand that by any provision of
this Indenture is required or permitted to be given or served by the Trustee or by the holders of
Securities to or on the Company may be given or served by being deposited first class postage
prepaid in a post-office letterbox addressed (until another address is filed in writing by the
Company with the Trustee), as follows: [ ]. Any notice, election, request or demand by the
Company or any Securityholder to or upon the Trustee shall be deemed to have been sufficiently
given or made, for all purposes, if given or made in writing at the Corporate Trust Office of the
Trustee. Any notice or communication to a holder shall be mailed by first-class mail to his
address shown on the Security Register kept by the Security Registrar. Failure to mail a notice or
communication to a holder or any defect in such notice or communication shall not affect its
sufficiency with respect to other holders. If a notice or communication is mailed or sent in the
manner provided above within the time prescribed, it is duly given as of the date it is mailed,
whether or not the addressee receives it, except that notice to the Trustee or the Company shall
only be effective upon receipt thereof by the Trustee or the Company, respectively. If the



46









 





Company mails a notice or communication to holders of Securities, it shall mail a copy to the
Trustee at the same time.




SECTION 13.05 Governing Law.




     This Indenture and each Security shall be deemed to be a contract made under the internal laws
of the State of New York, and for all purposes shall be construed in accordance with the laws of
said State.



SECTION 13.06 Treatment of Securities as Debt.




     It is intended that the Securities will be treated as indebtedness and not as equity for
federal income tax purposes. The provisions of this Indenture shall be interpreted to further this
intention.



SECTION 13.07 Compliance Certificates and Opinions.





	 	(a)	 	Upon any application or demand by the Company to the Trustee to take any action
under any of the provisions of this Indenture, the Company, shall furnish to the
Trustee an Officers’ Certificate stating that all conditions precedent provided for in
this Indenture relating to the proposed action have been complied with and an Opinion
of Counsel stating that in the opinion of such counsel all such conditions precedent
have been complied with, except that in the case of any such application or demand as
to which the furnishing of such documents is specifically required by any provision of
this Indenture relating to such particular application or demand, no additional
certificate or opinion need be furnished.






	 	(b)	 	Each certificate or opinion provided for in this Indenture and delivered to the
Trustee with respect to compliance with a condition or covenant in this Indenture shall
include (1) a statement that the Person making such certificate or opinion has read
such covenant or condition; (2) a brief statement as to the nature and scope of the
examination or investigation upon which the statements or opinions contained in such
certificate or opinion are based; (3) a statement that, in the opinion of such Person,
he has made such examination or investigation as is necessary to enable him to express
an informed opinion as to whether or not such covenant or condition has been complied
with; and (4) a statement as to whether or not, in the opinion of such Person, such
condition or covenant has been complied with.





SECTION 13.08 Payments on Business Days.




     Except as provided pursuant to Section 2.01 pursuant to a Board Resolution, and as set forth
in an Officers’ Certificate, or established in one or more indentures supplemental to this
Indenture, in any case where the date of maturity of interest or principal of any Security or the
date of redemption of any Security shall not be a Business Day, then payment of interest or
principal (and premium, if any) may be made on the next succeeding Business Day with the same force
and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue
for the period after such nominal date.



47









 





SECTION 13.09 Conflict with Trust Indenture Act.




     If and to the extent that any provision of this Indenture limits, qualifies or conflicts with
the duties imposed by Sections 310 to 317, inclusive, of the Trust Indenture Act, such imposed
duties shall control.



SECTION 13.10 Counterparts.




     This Indenture may be executed in any number of counterparts, each of which shall be an
original, but such counterparts shall together constitute but one and the same instrument.



SECTION 13.11 Separability.




     In case any one or more of the provisions contained in this Indenture or in the Securities of
any series shall for any reason be held to be invalid, illegal or unenforceable in any respect,
such invalidity, illegality or unenforceability shall not affect any other provisions of this
Indenture or of such Securities, but this Indenture and such Securities shall be construed as if
such invalid or illegal or unenforceable provision had never been contained herein or therein.



SECTION 13.12 Assignment.




     The Company will have the right at all times to assign any of its rights or obligations under
this Indenture to a direct or indirect wholly-owned Subsidiary of the Company, provided that, in
the event of any such assignment, the Company, will remain liable for all such obligations. Subject
to the foregoing, this Indenture is binding upon and inures to the benefit of the parties thereto
and their respective successors and assigns. This Indenture may not otherwise be assigned by the
parties thereto.



ARTICLE XIV




SUBORDINATION OF SECURITIES



SECTION 14.01 Subordination Terms.




     The payment by the Company of the principal of, premium, if any, and interest on any series of
Securities issued hereunder shall be subordinated to the extent set forth in an indenture
supplemental hereto relating to the Securities of such series.



48









 





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



	 	 	 	 	 	 	 

	 	 	ARIAD PHARMACEUTICALS, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	[                      ],	 	 
	 	 	As Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 







49