Exhibit 4.1

Execution Copy 

	




	 
	 
	
CVS CORPORATION,
Company
	 
	
and
	 
	
THE BANK OF NEW YORK TRUST COMPANY, N.A.,
Trustee
	 
	 	
	
SENIOR INDENTURE
	 	
	
Dated as of August 15, 2006
	 
	 
	

	
	 
	 
	
























CROSS-REFERENCE TABLE

	
Trust Indenture		 	
	
Act Section		
Indenture Section	
	
310		
(a)(1)		
7.10	
	 		
(a)(2)		
7.10	
	 		
(a)(3)		
N/A	
	 		
(a)(4)		
N/A	
	 		
(a)(5)		
7.10	
	 		
(b)		
7.10	
	 		
(c)		
N/A	
	
311		
(a)		
7.11	
	 		
(b)		
7.11	
	 		
(c)		
N/A	
	
312		
(a)		
2.05	
	 		
(b)		
10.03	
	 		
(c)		
10.03	
	
313		
(a)		
7.06	
	 		
(b)(1)		
7.06
	 		
(b)(2)		
7.06	
	 		
(c)		3.02; 10.02 
	 		
(d)		
7.06	
	
314		
(a)		
4.03; 4.06 
	 		
(b)		
N/A	
	 		
(c)(1)		
N/A
	 		
(c)(2)		N/A
	 		
(c)(3)		
N/A	
	 		
(d)		
N/A	
	 		
(e)		
N/A
	 		
(f)		
N/A	
	
315		
(a)		
7.01	
	 		
(b)		
7.05; 10.02	
	 		
(c)		
7.01	
	 		
(d)		
7.01	
	 		
(e)		
6.11	
	
316		
(a)(1)(A)		
6.05	
	 		
(a)(1)(B)		
6.04	
	 		
(a)(2)		
N/A	
	 		
(b)		
6.07	
	
317		
(a)(1)		
6.08	
	 		
(a)(2)		
6.09	
	 		
(b)		
2.04	
	
318		
(a)		
10.01	
	 		
(b)		
N/A	
	 		
(c)		
10.01	





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

















TABLE OF CONTENTS

	 		 		 		
PAGE	
	 		 	 	 
	
ARTICLE 1	
	
DEFINITIONS AND INCORPORATION BY REFERENCE	
	 		 	 	 
	
Section		
1.01.  		
Definitions		
1	
	
Section		
1.02.		
Other Definitions		
7	
	
Section		
1.03.		
Incorporation by Reference of Trust Indenture Act		
8	
	
Section		
1.04.		
Rules of Construction		
8	
	 		 	 	 
	
ARTICLE 2	
	
THE DEBT SECURITIES	
	 		 	 	 
	
Section		
2.01.		
Form and Dating		
8	
	
Section		
2.02.		
Execution and Authentication		
9	
	
Section		
2.03.		
Amount Unlimited; Issuable in Series		
10	
	
Section		
2.04.		
Denomination and Date of Debt Securities; Payments of		 	
	 		 	Interest	
13	
	
Section		
2.05.		
Registrar and Paying Agent; Agents Generally		
13	
	
Section		
2.06.		
Paying Agent to Hold Money in Trust		
14	
	
Section		
2.07.		
Transfer and Exchange		
14	
	
Section		
2.08.		
Replacement Debt Securities		
17	
	
Section		
2.09.		
Outstanding Debt Securities		
18	
	
Section		
2.10.		
Temporary Debt Securities		
18	
	
Section		
2.11.		
Cancellation		
19	
	
Section		
2.12.		
CUSIP Numbers		
19	
	
Section		
2.13.		
Defaulted Interest		
19	
	
Section		
2.14.		
Series May Include Tranches		
19	
	
Section		
2.15.		
Computation of Interest		
20	
	 		 	 	 
	
ARTICLE 3	
	
REDEMPTION	
	 		 	 	 
	
Section		
3.01.		
Applicability of Article		
20	
	
Section		
3.02.		
Notice of Redemption; Partial Redemptions		
20	
	
Section		
3.03.		
Payment of Debt Securities Called for Redemption		
22	
	
Section		
3.04.		
Exclusion of Certain Debt Securities from Eligibility for		 	
	 		 	Selection for Redemption	
23	
	
Section		
3.05.		
Mandatory and Optional Sinking Funds		
23	





i

















	ARTICLE 4
	COVENANTS
	 	 	 	 
	
Section		
4.01.		
Payment of Principal, Premium and Interest		
25	
	
Section		
4.02.		
Maintenance of Office or Agency		
25	
	
Section		
4.03.		
Reports By The Company		
26	
	
Section		
4.04.		
Restrictions on Secured Funded Debt		
26	
	
Section		
4.05.		
Limitation on Sale/Leaseback Transactions		
28	
	
Section		
4.06.		
Compliance Certificates		
30	
	
Section		
4.07.		
Further Instruments And Acts		
30	
	
Section		
4.08.		
Calculation of Original Issue Discount		
30	
	 		 	 	 
	
ARTICLE 5	
	
SUCCESSORS	
	 		 	 	 
	
Section		
5.01.		
When the Company May Merge, Consolidate or Dispose of		 	
	 		 	Assets 	
30	
	
Section		
5.02.		
Successor Company Substituted		
31	
	 		 	 	 
	
ARTICLE 6	
	
DEFAULT AND REMEDIES	
	 		 	 	 
	
Section		
6.01.		
Events of Default		
31	
	
Section		
6.02.		
Acceleration		
33	
	
Section		
6.03.		
Other Remedies		
33	
	
Section		
6.04.		
Waiver of Past Defaults		
34	
	
Section		
6.05.		
Control by Majority		
34	
	
Section		
6.06.		
Limitation on Suits		
34	
	
Section		
6.07.		
Unconditional Right of Holders of Debt Securities to Receive		 	
	 		 	Payment	
35	
	
Section		
6.08.		
Collection Suit by Trustee		
35	
	
Section		
6.09.		
Trustee May File Proofs of Claim		
35	
	
Section		
6.10.		
Priorities		
35	
	
Section		
6.11.		
Undertaking for Costs		
36	
	
Section		
6.12.		
Waiver of Stay, Extension and Usury Laws		
36	
	 		 	 	 
	
ARTICLE 7	
	
TRUSTEE	
	 		 	 	 
	
Section		
7.01.   	
Duties of Trustee		
36	
	
Section		
7.02.		
Rights of Trustee		
38	
	
Section		
7.03.		
Individual Rights of Trustee		
39	
	
Section		
7.04.		
Trustee’s Disclaimer		
39	
	
Section		
7.05.		
Notice of Default		
39	
	
Section		
7.06.		
Reports by Trustee to Holders of Debt Securities		
39	





ii



















	
Section		
7.07.		
Compensation and Indemnity		
39	
	
Section		
7.08.		
Replacement of Trustee		
40	
	
Section		
7.09.		
Successor Trustee by Merger, Etc		
41	
	
Section		
7.10.		
Eligibility; Disqualification		
42	
	
Section		
7.11.		
Preferential Collection of Claims against the Company		
42	
	 		 	 	 
	
ARTICLE 8	
	
DISCHARGE OF INDENTURE; DEFEASANCE	
	 		 	 	 
	
Section		
8.01.		
Discharge of Liability on Debt Securities; Defeasance		
42	
	
Section		
8.02.		
Conditions to Defeasance		
43	
	
Section		
8.03.		
Application of Trust Money		
44	
	
Section		
8.04.		
Repayment to the Company		
44	
	
Section		
8.05.		
Indemnity for Government Obligations		
44	
	
Section		
8.06.		
Reinstatement		
45	
	 		 	 	 
	
ARTICLE 9	
	
AMENDMENT, SUPPLEMENT AND WAIVER	
	 		 	 	 
	
Section		
9.01.		
Without Consent of Holders of Debt Securities		
45	
	
Section		
9.02.		
With Consent of Holders of Debt Securities		
46	
	
Section		
9.03.		
Compliance with Trust Indenture Act		
47	
	
Section		
9.04.		
Revocation and Effect of Consents and Waivers		
47	
	
Section		
9.05.		
Notation On or Exchange of Debt Securities		
48	
	
Section		
9.06.		
Trustee to Sign Amendments, Etc		
48	
	 		 	 	 
	
ARTICLE 10	
	
MISCELLANEOUS	
	 		 	 	 
	
Section		
10.01.		
  Trust Indenture Act Controls		
48	
	
Section		
10.02.		
  Notices		
49	
	
Section		
10.03.		
  Communication by Holders of Debt Securities with Other		 	
	 		 	Holders of Debt Securities	
49	
	
Section		
10.04.		
  Certificate and Opinion as to Conditions Precedent		
50	
	
Section		
10.05.		
  Statements Required in Certificate or Opinion		
50	
	
Section		
10.06.		
  Rules by Trustee and Agents		
50	
	
Section		
10.07.		
  No Personal Liability of Directors, Officers, Employees,		 	
	 		 	Incorporators And Stockholders	
50	
	
Section		
10.08.		
  Governing Law		
51	
	
Section		
10.09.		
  No Adverse Interpretation of Other Agreements		
51	
	
Section		
10.10.		
  Successors		
51	
	
Section		
10.11.		
  Severability		
51	
	
Section		
10.12.		
  Counterpart Originals		
51	
	
Section		
10.13.		
  Table of Contents, Headings, Etc		
51	
	
Section		
10.14.		
  Judgment Currency		
51	





iii



















	
Section		
10.15.		
Waiver of Jury Trial	
52	
	
Section		
10.16.	 	
Force Majeure	
52	
	
Exhibit A		
Form of Debt Security	 	
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 





iv




















     INDENTURE, dated as of August 15, 2006, between CVS Corporation (the “Company”), a corporation duly organized and existing under the laws of the State of Delaware,
and The Bank of New York Trust Company, N.A., a national banking association, as trustee (the “Trustee”).


RECITALS OF THE COMPANY


     WHEREAS, the Company has duly authorized the issue from time to time of its debt securities to be issued in one or more series (the “Debt Securities”) up to such
principal amount or amounts as may from time to time be authorized in accordance with the terms of this Indenture and to provide, among other things, for the authentication, delivery and administration of the Debt Securities, the Company has duly
authorized the execution and delivery of this Indenture; and


     WHEREAS, all things necessary to make this Indenture a legally valid and binding agreement of the Company according to its terms have been done;


      NOW, THEREFORE:


     In consideration of the premises and the purchase of the Debt Securities by the holders thereof, the Company and the Trustee mutually covenant and agree for the equal and proportionate benefit of the respective
holders from time to time of the Debt Securities or of any and all series thereof and of the coupons, if any, appertaining thereto as follows:


ARTICLE 1

DEFINITIONS AND INCORPORATION BY REFERENCE


      Section 1.01. Definitions.


     “Agent” means any Registrar, Paying Agent, transfer agent or Authenticating Agent.


     “Attributable Debt” means, in connection with any sale and leaseback transaction under which either the Company or any Restricted Subsidiary is at the time liable as lessee for a
term of more than 12 months and at any date as of which the amount thereof is to be determined, the lesser of (A) total net obligations of the lessee for rental payments during the remaining term of the lease discounted from the respective due dates
thereof to such determination date at a rate per annum equivalent to the greater of (i) the weighted average Yield to Maturity of the Debt Securities outstanding on such determination date, such average being weighted by the principal amount of each
series of Debt Securities then outstanding and (ii) the interest rate inherent in such lease (as determined in good faith by the Company), both to be compounded semi-annually or (B) the sale price for the assets so sold and leased multiplied by a
fraction the numerator of which is the remaining portion of the base term of the lease included in such transaction and the denominator or which is the base term of the lease.




















     “Authorized Newspaper” means a newspaper (which, in the case of The City of New York, will, if practicable, be The Wall Street Journal (Eastern Edition) and in the case
of London, will, if practicable, be the Financial Times (London Edition)) published in an official language of the country of publication customarily published at least once a day for at least five days in each calendar week and of general
circulation in The City of New York or London, as applicable. If it shall be impractical in the opinion of the Trustee to make any publication of any notice required hereby in an Authorized Newspaper, any publication or other notice in lieu thereof
which is made or given with the approval of the Trustee shall constitute a sufficient publication of such notice.


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


     “Board Resolution” means one or more resolutions of the board of directors of the Company or any authorized committee thereof, certified by the secretary or an assistant
secretary of the Company to have been duly adopted and to be in full force and effect on the date of certification, and delivered to the Trustee.


     “Business Day” means, with respect to any Debt Security, a day that is not a day on which banking institutions are authorized or required by law or regulation to close,
in the city (or in any of the cities, if more than one) unless otherwise specified, in which amounts are payable, as specified in the form of such Debt Security.


     “Capital Lease Obligations” means with respect to any Person any obligation which is required to be classified and accounted for as a capital lease on the face of a balance sheet
of such Person prepared in accordance with GAAP; the amount of such obligation shall be the capitalized amount thereof, determined in accordance with GAAP; and the Stated Maturity thereof shall be the date of the last payment of rent or any other
amount due under such lease prior to the first date upon which such lease may be terminated by the lessee without payment of a penalty.


     “Capital Stock” means, with respect to any Person, any and all shares, interests, participations or other equivalents (however designated, whether voting or non-voting)
of such Person’s capital stock or equity, including, without limitation, all Common Stock and Preferred Stock.


     “Commission” means the Securities and Exchange Commission, as from time to time constituted, created under the Exchange Act or, if at any time after the execution of this
Indenture such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time.


     “Common Stock” means, with respect to any Person, any and all shares, interests, participations or other equivalents (however designated, whether voting or non-voting) of
such Person’s common stock, whether now outstanding or issued after the date of this Indenture, including, without limitation, all series and classes of such common stock.


2




















     “Company” means the party named as such in the first paragraph of this Indenture until a successor replaces it pursuant to Article 5 of this Indenture and thereafter
means the successor.


     “Consolidated Net Tangible Assets” means, at any date, the total assets appearing on the most recent consolidated balance sheet of the Company and its Restricted Subsidiaries as at the end of the fiscal quarter of the Company ending not more than 135 days prior to such date, prepared in accordance with U.S. generally accepted accounting principles, less (i) all current liabilities (due
within one year) as shown on such balance sheet, (ii) investments in and advances to Unrestricted Subsidiaries and (iii) Intangible Assets and liabilities relating thereto.


     “Corporate Trust Office of the Trustee” means the principal office of the Trustee at which at any time its corporate trust business shall be administered, which office at
the date hereof is located at 222 Berkeley Street, 2nd Floor, Boston, Massachusetts 02116, Attention: Corporate Trust Administration, or such other address as the Trustee may designate from time to time by notice
to the Holders or the Company, or the principal corporate trust office of any successor Trustee (or such other address as a successor Trustee may designate from time to time by notice to the Holders and the Company).


     “Debt Securities” means any of the securities, as defined in the first paragraph of the recitals hereof, that are authenticated and delivered under this Indenture and,
unless the context indicates otherwise, shall include any coupon appertaining thereto.


     “Default” means any Event of Default as defined in Section 6.01 and any event that is, or after notice or passage of time or both would be, an Event of Default.


     “Depositary” means, with respect to the Debt Securities of any series issuable or issued in the form of one or more Registered Global Securities, the Person designated as
Depositary by the Company pursuant to Section 2.03 until a successor Depositary shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Depositary” shall mean or
include each Person who is then a Depositary hereunder, and if at any time there is more than one such Person, “Depositary” as used with respect to the Debt Securities of any such series shall mean the
Depositary with respect to the Registered Global Securities of that series.


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


     “Funded Debt” means (i) any Indebtedness of the Company or a Restricted Subsidiary maturing more than 12 months after the time of computation thereof, (ii) guarantees of Funded
Debt or of dividends of others (except guarantees in connection with the sale or discount of accounts receivable, trade acceptances and other paper arising in the ordinary course of business), (iii) in the case of any Restricted Subsidiary, all
preferred stock having mandatory redemption provisions of such Restricted Subsidiary as reflected on such Restricted Subsidiary's balance sheet prepared in accordance with U.S. generally accepted accounting principles, and (iv) all Capital Lease
Obligations.


3




















     “GAAP” means generally accepted accounting principles in the United States of America as in effect as of the issue date, including those set forth (i) in the opinions and
pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants; (ii) statements and pronouncements of the Financial Accounting Standards Board; (iii) in such other statements by such other entity as
approved by a significant segment of the accounting profession; and (iv) the rules and regulations of the SEC governing the inclusion of financial statements (including pro forma financial statements) in periodic reports required to be filed
pursuant to Section 13 of the Exchange Act, including opinions and pronouncements in staff accounting bulletins and similar written statements from the accounting staff of the SEC.


     “Holder” or “Securityholder” means the registered holder of any Debt Security with respect to Registered Debt Securities and
the bearer of any Unregistered Security or any coupon appertaining thereto, as the case may be.


     “Indebtedness” means, at any date, without duplication, all obligations for borrowed money of the Company or a Restricted Subsidiary.


     “Indenture” means this Indenture as originally executed or as it may be amended or supplemented from time to time by one or more indentures supplemental to this Indenture
entered into pursuant to the applicable provisions of this Indenture and shall include the forms and terms of the Debt Securities of each series established as contemplated pursuant to Sections 2.01 and 2.03.


     “Intangible Assets” means, at any date, the value, as shown on or reflected in the most recent consolidated balance sheet of the Company and its Restricted Subsidiaries as at the
end of the fiscal quarter of the Company ending not more than 135 days prior to such date, prepared in accordance with generally accepted accounting principles of: (i) all trade names, trademarks, licenses, patents, copyrights, service marks,
goodwill and other like intangibles; (ii) organizational and development costs; (iii) deferred charges (other than prepaid items, such as insurance, taxes, interest, commissions, rents, pensions, compensation and similar items and tangible assets
being amortized); and (iv) unamortized debt discount and expense, less unamortized premium.


     “Liens” means such pledges, mortgages, security interests and other liens on any Principal Property of the Company or a Restricted Subsidiary which secure Secured Debt.


     “Nonrecourse Obligation” means indebtedness or lease payment obligations substantially related to (i) the acquisition of assets not previously owned by the Company or any
Restricted Subsidiary or (ii) the financing of a project involving the development or expansion of properties of Company or any Restricted Subsidiary, as to which the obligee with respect to such indebtedness or obligation has no recourse to the
Company or any Restricted Subsidiary or any assets of the Company or any Subsidiary other than the assets which were acquired with the proceeds of such transaction or the project financed with the proceeds of such transaction (and the proceeds
thereof).


4




















     “Officer” means with respect to any Person, the Chairman of the Board, the Chief Executive Officer, the President, the Chief Operating Officer, the Chief Financial Officer, the
Treasurer, Controller, Secretary or any Vice President of such Person.


     “Officers’ Certificate” means a certificate signed on behalf of the Company by two Officers of the Company, complying with Section 10.04 and delivered to the
Trustee. Each such certificate shall comply with Section 314 of the Trust Indenture Act and include (except as otherwise expressly provided in this Indenture) the statements provided in Section 10.05.


     “Opinion of Counsel” means a written opinion signed by legal counsel, who may be an employee of or counsel to the Company, and complying with Section 10.04. Each such
opinion shall comply with Section 314 of the Trust Indenture Act and include the statements provided in Section 10.05, if and to the extent required thereby.


     “original issue date” of any Debt Security (or portion thereof) means the earlier of (a) the date of authentication of such Debt Security or (b) the date of any Debt
Security (or portion thereof) for which such Debt Security was issued (directly or indirectly) on registration of transfer, exchange or substitution.


     “Original Issue Discount Debt Security” means any Debt Security that provides for an amount less than the principal amount thereof to be due and payable upon a
declaration of acceleration of the maturity thereof pursuant to Section 6.02.


     “Periodic Offering” means an offering of Debt Securities of a series from time to time, the specific terms of which Debt Securities, including, without limitation, the
rate or rates of interest, if any, thereon, the stated maturity or maturities thereof and the redemption provisions, if any, with respect thereto, are to be determined by the Company or its agents upon the issuance of such Debt
Securities.


     “Person” means an individual, a corporation, a partnership, a limited liability company, an association, a trust or any other entity or organization, including a
government or political subdivision or an agency or instrumentality thereof.


     “Preferred Stock” means, with respect to any Person, any and all shares, interests, participations or other equivalents (however designated, whether voting or non-voting)
of such Person’s preferred or preference stock, whether now outstanding or issued after the date of the Indenture, including, without limitation, all series and classes of such preferred or preference stock.


     “Principal” of a Debt Security means the principal amount of, and, unless the context indicates otherwise, includes any premium payable on, the Debt Security.


     “Principal Property” means real and tangible property owned and operated now or hereafter by the Company or any Restricted Subsidiary constituting a part of any store, warehouse or
distribution center located within the United States of America or its territories or possessions (excluding current assets, motor vehicles, mobile materials-handling equipment and other rolling stock, cash registers and other point-of-sale



5




















recording devices and related equipment and data processing and other office equipment), the net book value of which (including leasehold improvements and store fixtures constituting a part of such store, warehouse or distribution center) as
of the date on which the determination is being made is more than 1.0% of Consolidated Net Tangible Assets.


     “Registered Global Security” means a Security evidencing all or a part of a series of Registered Securities, issued to the Depositary for such series in accordance with
Section 2.02, and bearing the legend prescribed in Section 2.02.


     “Registered Security” means any Debt Security registered on the Security Register (as defined in Section 2.05) .


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


     “Restricted Subsidiary” means each Subsidiary of the Company other than Unrestricted Subsidiaries.


     “Secured Debt” means Funded Debt which is secured by any pledge of, or mortgage, security interest or other lien on any (i) Principal Property (whether owned on the date of the
Indenture or thereafter acquired or created), (ii) shares of stock owned by the Company or a Subsidiary in a Restricted Subsidiary or (iii) Indebtedness of a Restricted Subsidiary.


     “Stated Maturity” means with respect to any security the date specified in such security as the fixed date on which the principal of such security is due and payable, including
pursuant to any mandatory redemption provision (but excluding any provision providing for the repurchase of such security at the option of the holder thereof upon the happening of any contingency unless such contingency has occurred).


     “Subsidiary” means, with respect to any Person, any corporation, association or other business entity of which at least a majority of the outstanding stock, which under
ordinary circumstances (not dependent upon the happening of a contingency) has voting power to elect a majority of the board of directors of such corporation (or similar management body), is owned directly or indirectly by such Person or by one or
more Subsidiaries of such Person, or by such Person and one or more Subsidiaries of such Person.


     “Trustee” means the party named as such in the first paragraph of this Indenture until a successor replaces it in accordance with the provisions of Article 7 and
thereafter means such successor.


6




















     “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, as it may be amended from time to time.


     “Unregistered Security” means any Debt Security other than a Registered Security.


     “Unrestricted Subsidiary” means any Subsidiary designated as an Unrestricted Subsidiary from time to time by the Board or Directors of the Company; provided, however, that the
Board of Directors of the Company (i) will not designate as an Unrestricted Subsidiary any Subsidiary of the Company that owns any Principal Property or any stock of a Restricted Subsidiary, (ii) will not continue the designation of any Subsidiary
of the Company as an Unrestricted Subsidiary at any time that such Subsidiary owns any Principal Property, and (iii) will not, nor will it cause or permit any Restricted Subsidiary to, transfer or otherwise dispose of any Principal Property to any
Unrestricted Subsidiary (unless such Unrestricted Subsidiary will in connection therewith be redesignated as a Restricted Subsidiary and any pledge, mortgage, security interest or other lien arising in connection with any Indebtedness or such
Unrestricted Subsidiary so redesignated does not extend to such Principal Property (unless the existence of such pledge, mortgage, security interest or other lien would otherwise be permitted under this Indenture)).


     “Wholly Owned Subsidiary” means a Restricted Subsidiary all the Capital Stock of which is owned by the Company or another Wholly Owned Subsidiary.


     “Yield to Maturity” means, as the context may require, the yield to maturity (i) on a series of Debt Securities or (ii) if the Debt Securities of a series are issuable
from time to time, on a Debt Security of such series, calculated at the time of issuance of such series in the case of clause (i) or at the time of issuance of such Debt Security of such series in the case of clause (ii), or, if applicable, at the
most recent redetermination of interest on such series or on such Debt Security, and calculated in accordance with the constant interest method or such other accepted financial practice as is specified in the terms of such Debt Security.


     Section 1.02 . Other Definitions. Each of the following terms is defined in the section set forth opposite such term:


  	 Term		 		
      Section	
	
        
      			
        
      
	
      Authenticating Agent		 		
      2.02	
	
      Event of Default		 		
      6.01	
	
      Judgment Currency		 		
      10.14	
	
      mandatory sinking fund payment		 		
      3.05	
	
      optional sinking fund payment		 		
      3.05	
	
      Paying Agent		 		
      2.05	
	
      record date		 		
      2.04	
	
      Registrar		 		
      2.05	
	
      Required Currency		 		
      10.14	
	
      Security Register		 		
      2.05	


  




7













  





  	Term 	 	Section 
	
      		
      
	sinking fund payment
      date	 	3.05
	tranche 	 	2.14 





     Section 1.03 . Incorporation by Reference of Trust Indenture Act. Whenever this Indenture refers to a provision of the Trust Indenture Act, the provision is incorporated by
reference in and made a part of this Indenture.


     All other terms used in this Indenture that are defined by the Trust Indenture Act, defined by reference in the Trust Indenture Act to another statute or defined by a rule of the Commission and not otherwise
defined herein have the meanings assigned to them therein. If any provision of this Indenture limits, qualifies or conflicts with another provision hereof that is required to be included in this Indenture by any of the provisions of the Trust
Indenture Act, such required provision shall control.


Section 1.04 . Rules of Construction. Unless the context otherwise requires:


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


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


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


     (d) all references to Sections or Articles refer to Sections or Articles of this Indenture unless otherwise indicated; and


     (e) use of masculine, feminine or neuter pronouns should not be deemed a limitation, and the use of any such pronouns should be construed to include, where appropriate, the other pronouns.


ARTICLE 2

THE DEBT SECURITIES


     Section 2.01. Form and Dating. The Debt Securities of each series shall be substantially in such form or forms (not inconsistent with this Indenture) as shall be established by or
pursuant to one or more Board Resolutions or in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture and may have
imprinted or otherwise reproduced thereon such legend or legends or endorsements, not inconsistent with the provisions of this Indenture, as may be required to comply with any law, or with any rules of any securities exchange or usage, all as may be
determined by the officers executing such Debt Securities as evidenced by their execution of the Debt 


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Securities. Unless otherwise so established, Unregistered Securities shall have coupons attached.


     Section 2.02 . Execution and Authentication. The chairman of the board of directors, the president, the executive vice president or any senior vice president and the treasurer or
any assistant treasurer or the secretary or any assistant secretary shall execute the Debt Securities (other than coupons) for the Company by facsimile or manual signature in the name and on behalf of the Company. The seal of the Company, if any,
shall be reproduced on the Debt Securities. If an Officer whose signature is on a Debt Security no longer holds that office at the time the Debt Security is authenticated, the Debt Security shall nevertheless be valid.


     The Trustee, at the expense of the Company, may appoint an authenticating agent (the “Authenticating Agent”) to authenticate Debt Securities (other than coupons). The
Authenticating Agent may authenticate Debt Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such Authenticating Agent.


     A Debt Security (other than coupons) shall not be valid until the Trustee or Authenticating Agent manually signs the certificate of authentication on the Debt Security. The signature shall be conclusive evidence
that the Debt Security has been authenticated under this Indenture.


     At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Debt Securities of any series having attached thereto appropriate coupons, if any, executed by the
Company to the Trustee for authentication together with the applicable documents referred to below in this Section, and upon the written order of the Company the Trustee shall thereupon authenticate and make available for delivery such Debt
Securities to or upon the written order of the Company. In authenticating any Debt Securities of a series, the Trustee shall be entitled to receive prior to the first authentication of any Debt Securities of such series, and (subject to Article 7)
shall be fully protected in relying upon, unless and until such documents have been superseded or revoked:


     (a) any Board Resolution and/or executed supplemental indenture referred to in Sections 2.01 and 2.03 by or pursuant to which the forms and terms of the Debt Securities of that series were established;


     (b) an Officers’ Certificate setting forth the form or forms and terms of the Debt Securities, stating that the form or forms and terms of the Debt Securities of such series have been, or will be when
established in accordance with such procedures as shall be referred to therein, established in compliance with this Indenture; and


     (c) an Opinion of Counsel substantially to the effect that the form or forms and terms of the Debt Securities of such series have been, or will be when established in accordance with such procedures as shall be
referred to therein, established in compliance with this Indenture and that the supplemental indenture, to the extent applicable, and 


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Debt Securities have been duly authorized and, if executed and authenticated in accordance with the provisions of the Indenture and delivered to and duly paid for by the purchasers thereof on the date of such opinion, would be entitled to the
benefits of the Indenture and would be valid and binding obligations of the Company, enforceable against the Company in accordance with their respective terms, subject to bankruptcy, insolvency, reorganization, receivership, moratorium and other
similar laws affecting creditors’ rights generally, general principles of equity, and such other matters as shall be specified therein.


     If the Company shall establish pursuant to Section 2.03 that the Debt Securities of a series or a portion thereof are to be issued in the form of one or more Registered Global Securities, then the Company shall
execute and upon the written order of the Company the Trustee shall authenticate and make available for delivery one or more Registered Global Securities that (i) shall represent and shall be denominated in an amount equal to the aggregate principal
amount of all of the Debt Securities of such series issued in such form and not yet canceled, (ii) shall be registered in the name of the Depositary for such Registered Global Security or Securities or the nominee of such Depositary, (iii) shall be
delivered by the Trustee to such Depositary or its custodian or pursuant to such Depositary’s instructions and (iv) shall bear a legend substantially to the following effect: “Unless and until it is exchanged in whole or in part for Debt
Securities in definitive registered form, this Debt Security may not be transferred except as a whole by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the
Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary.”


     Section 2.03 . Amount Unlimited; Issuable in Series. The aggregate principal amount of Debt Securities which may be authenticated and delivered under this Indenture is
unlimited.


     The Debt Securities may be issued in one or more series and each such series shall rank equally and pari passu with all other unsecured and unsubordinated debt of the Company. There shall be established in or
pursuant to a Board Resolution or one or more indentures supplemental hereto, prior to the initial issuance of Debt Securities of any series (subject to the last sentence of this Section 2.03),


     (a) the designation of the Debt Securities of the series, including CUSIP Numbers which shall distinguish the Debt Securities of the series from the Debt Securities of all other series;


     (b) any limit upon the aggregate principal amount of the Debt Securities of the series that may be authenticated and delivered under this Indenture and any limitation on the ability of the Company to increase such
aggregate principal amount after the initial issuance of the Debt Securities of that series (except for Debt Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, or upon redemption of, other
Debt Securities of the series pursuant hereto);


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     (c) the date or dates on which the Principal of the Debt Securities of the series is payable (which date or dates may be fixed or extendible);


     (d) the rate or rates (which may be fixed or variable) per annum at which the Debt Securities of the series shall bear interest, if any, the date or dates from which such interest shall accrue, on which such
interest shall be payable and (in the case of Registered Debt Securities) on which a record shall be taken for the determination of Holders to whom interest is payable and/or the method by which such rate or rates or date or dates shall be
determined;


     (e) if other than as provided in Section 4.02, the place or places where the Principal of and any interest on Debt Securities of the series shall be payable, any Registered Securities of the series may be
surrendered for exchange, notices, demands to or upon the Company in respect of the Debt Securities of the series and this Indenture may be served and notice to Holders may be published;


     (f) the right, if any, of the Company to redeem Debt Securities of the series, in whole or in part, at its option and the period or periods within which, the price or prices at which and any terms and conditions
upon which Debt Securities of the series may be so redeemed, pursuant to any sinking fund or otherwise;


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


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


     (i) if other than the entire principal amount thereof, the portion of the principal amount of Debt Securities of the series which shall be payable upon declaration of acceleration of the maturity
thereof;


     (j) if other than the coin or currency in which the Debt Securities of the series are denominated, the coin or currency in which payment of the Principal of or interest on the Debt Securities of the series shall
be payable or if the amount of payments of Principal of and/or interest on the Debt Securities of the series may be determined with reference to an index based on a coin or currency other than that in which the Debt Securities of the series are
denominated, the manner in which such amounts shall be determined;


     (k) if payment of the Principal of and interest on the Debt Securities of the series shall be payable in currency or currencies other than the currency of the United States, the manner in which any such currency
shall be valued against other currencies in which any other Debt Securities shall be payable;


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     (l) whether the Debt Securities of the series or any portion thereof will be issuable as Registered Securities (and if so, whether such Debt Securities will be issuable as Registered Global Securities) or
Unregistered Securities (with or without coupons), or any combination of the foregoing, any restrictions applicable to the offer, sale or delivery of Unregistered Securities or the payment of interest thereon and, if other than as provided herein,
the terms upon which Unregistered Securities of any series may be exchanged for Registered Securities of such series and vice versa;


     (m) whether and under what circumstances the Company will pay additional amounts on the Debt Securities of the series held by non-U.S. persons in respect of any tax, assessment or governmental charge withheld or
deducted and, if so, whether the Company will have the option to redeem such Debt Securities rather than pay such additional amounts;


     (n) if the Debt Securities of the series are to be issuable in definitive form (whether upon original issue or upon exchange of a temporary Debt Security of such series) only upon receipt of certain certificates
or other documents or satisfaction of other conditions, the form and terms of such certificates, documents or conditions;


     (o) any trustees, depositaries, authenticating or paying agents, transfer agents or the registrar or any other agents with respect to the Debt Securities of the series;


     (p) provisions, if any, for the defeasance of the Debt Securities of the series (including provisions permitting defeasance of less than all Debt Securities of the series), which provisions may be in addition to,
in substitution for, or in modification of (or any combination of the foregoing) the provisions of Article 8;


     (q) if the Debt Securities of the series are issuable in whole or in part as one or more Registered Global Securities, the identity of the Depositary for such Registered Global Security or Securities;


     (r) any other events of default or covenants with respect to the Debt Securities of the series; and


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


     All Debt Securities of any one series and coupons, if any, appertaining thereto shall be substantially identical, except in the case of Registered Securities as to date and denomination, except in the case of any
Periodic Offering and except as may otherwise be provided by or pursuant to the Board Resolution referred to above or as set forth in any such indenture supplemental hereto. All Debt Securities of any one series need not be issued at the same time
and may be issued from time to time, consistent with the terms of this Indenture, if so provided by or pursuant to such Board Resolution or in any such indenture supplemental hereto and any forms and terms of Debt Securities to be issued from time
to time may be completed and established from time to time prior to the issuance thereof by procedures described in such Board Resolution or supplemental indenture.


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      Section 2.04.
Denomination and Date of Debt Securities; Payments of Interest. The
Debt Securities of each series shall be issuable as Registered Securities or Unregistered
Securities in denominations established as contemplated by Section 2.03 or,
if not so established with respect to Debt Securities of any series, in denominations
of $1,000 and any integral multiple thereof. The Debt Securities
of each series shall be numbered, lettered or otherwise distinguished in such
manner or in accordance with such plan as the Officers of the Company executing
the same may determine, as evidenced by their execution thereof.


     Each Debt Security shall be dated the date of its authentication. The Debt Securities of each series shall bear interest, if any, from the date, and such interest and shall be payable on the dates, established as
contemplated by Section 2.03.


     The person in whose name any Registered Security of any series is registered at the close of business on any record date applicable to a particular series with respect to any interest payment date for such series
shall be entitled to receive the interest, if any, payable on such interest payment date notwithstanding any transfer or exchange of such Registered Security subsequent to the record date and prior to such interest payment date, except if and to the
extent the Company shall default in the payment of the interest due on such interest payment date for such series, in which case the provisions of Section 2.13 shall apply. The term “record date” as used
with respect to any interest payment date (except a date for payment of defaulted interest) for the Debt Securities of any series shall mean the date specified as such in the terms of the Registered Securities of such series established as
contemplated by Section 2.03, or, if no such date is so established, the fifteenth day next preceding such interest payment date, whether or not such record date is a Business Day.


     Section 2.05 . Registrar and Paying Agent; Agents Generally. The Company shall maintain an office or agency where Debt Securities may be presented for registration, registration of
transfer or exchange (the “Registrar”) and an office or agency where Debt Securities may be presented for payment (the “Paying Agent”), which shall be in the
Borough of Manhattan, The City of New York. The Company shall cause the Registrar to keep a register of the Registered Securities and of their registration, transfer and exchange (the “Security Register”).
The Company may have one or more additional Paying Agents or transfer agents with respect to any series.


     The Company shall enter into an appropriate agency agreement with any Agent not a party to this Indenture. The agreement shall implement the provisions of this Indenture and the Trust Indenture Act that relate to
such Agent. The Company shall give prompt written notice to the Trustee of the name and address of any Agent and any change in the name or address of an Agent. If the Company fails to maintain a Registrar or Paying Agent, the Trustee shall act as
such. The Company may remove any Agent upon written notice to such Agent and the Trustee; provided that no such removal shall become effective until (i) the acceptance of an appointment by a successor Agent to such Agent as evidenced by an
appropriate agency agreement entered into by the Company and such successor Agent and delivered to the Trustee or (ii) notification to the Trustee that the Trustee shall serve as such Agent until the appointment of a successor Agent in 


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accordance with clause (i) of this proviso. The Company or any affiliate of the Company may act as Paying Agent or Registrar; provided that neither the Company nor an affiliate of the Company shall act as Paying Agent in connection with the
defeasance of the Debt Securities or the discharge of this Indenture under Article 8.


     The Company initially appoints the Trustee as Registrar, Paying Agent and Authenticating Agent. If, at any time, the Trustee is not the Registrar, the Registrar shall make available to the Trustee ten days prior
to each interest payment date and at such other times as the Trustee may reasonably request the names and addresses of the Holders as they appear in the Security Register.


     Section 2.06 . Paying Agent to Hold Money in Trust. Not later than 10:00 a.m., New York City time, on each due date of any Principal or interest on any Debt Securities, the Company
shall deposit with the Paying Agent money in immediately available funds sufficient to pay such Principal or interest. The Company shall require each Paying Agent other than the Trustee to agree in writing that such Paying Agent shall hold in trust
for the benefit of the Holders of such Debt Securities or the Trustee all money held by the Paying Agent for the payment of Principal of and interest on such Debt Securities and shall promptly notify the Trustee of any default by the Company in
making any such payment. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee and account for any funds disbursed, and the Trustee may at any time during the continuance of any payment default, upon written
request to a Paying Agent, require such Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. Upon doing so, the Paying Agent shall have no further liability for the money so paid over to the Trustee. If the
Company or any affiliate of the Company acts as Paying Agent, it will, on or before each due date of any Principal of or interest on any Debt Securities, segregate and hold in a separate trust fund for the benefit of the Holders thereof a sum of
money sufficient to pay such Principal or interest so becoming due until such sum of money shall be paid to such Holders or otherwise disposed of as provided in this Indenture, and will promptly notify the Trustee in writing of its action or failure
to act as required by this Section.


     Section 2.07 . Transfer and Exchange. Unregistered Securities (except for any temporary global Unregistered Securities) and coupons (except for coupons attached to any temporary
global Unregistered Securities) shall be transferable by delivery.


     At the option of the Holder thereof, Registered Securities of any series (other than a Registered Global Security, except as set forth below) may be exchanged for a Registered Security or Registered Securities of
such series and tenor having authorized denominations and an equal aggregate principal amount, upon surrender of such Registered Securities to be exchanged at the agency of the Company that shall be maintained for such purpose in accordance with
Section 2.05 and upon payment, if the Company shall so require, of the charges hereinafter provided. If the Debt Securities of any series are issued in both registered and unregistered form, except as otherwise established pursuant to Section 2.03,
at the option of the Holder thereof, Unregistered Securities of any series may be exchanged for Registered Securities of such series and tenor having authorized denominations and an equal aggregate principal amount, upon 


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surrender of such Unregistered Securities to be exchanged at the agency of the Company that shall be maintained for such purpose in accordance with Section 4.02, with, in the case of Unregistered Securities that have coupons attached, all
unmatured coupons and all matured coupons in default thereto appertaining, and upon payment, if the Company shall so require, of the charges hereinafter provided. At the option of the Holder thereof, if Unregistered Securities of any series,
maturity date, interest rate and original issue date are issued in more than one authorized denomination, except as otherwise established pursuant to Section 2.03, such Unregistered Securities may be exchanged for Unregistered Securities of such
series and tenor having authorized denominations and an equal aggregate principal amount, upon surrender of such Unregistered Securities to be exchanged at the agency of the Company that shall be maintained for such purpose in accordance with
Section 4.02, with, in the case of Unregistered Securities that have coupons attached, all unmatured coupons and all matured coupons in default thereto appertaining, and upon payment, if the Company shall so require, of the charges hereinafter
provided. Registered Securities of any series may not be exchanged for Unregistered Securities of such series. Whenever any Debt Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and make
available for delivery, the Debt Securities which the Holder making the exchange is entitled to receive.


     All Registered Securities presented for registration of transfer, exchange, redemption or payment shall be duly endorsed by, or be accompanied by a written instrument or instruments of transfer in form
satisfactory to the Company and the Trustee duly executed by, the holder or his attorney duly authorized in writing.


     The Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any exchange or registration of transfer of Debt Securities. No service
charge shall be made for any such transaction.


     Notwithstanding any other provision of this Section 2.07, unless and until it is exchanged in whole or in part for Debt Securities in definitive registered form, a Registered Global Security representing all or a
portion of the Debt Securities of a series may not be transferred except as a whole by the Depositary for such series to a nominee of such Depositary or by a nominee of such Depositary to such Depositary or another nominee of such Depositary or by
such Depositary or any such nominee to a successor Depositary for such series or a nominee of such successor Depositary.


     If at any time the Depositary for any Registered Global Securities of any series notifies the Company that it is unwilling or unable to continue as Depositary for such Registered Global Securities or if at any
time the Depositary for such Registered Global Securities shall no longer be eligible under applicable law, the Company shall appoint a successor Depositary eligible under applicable law with respect to such Registered Global Securities. If (i) a
successor Depositary eligible under applicable law for such Registered Global Securities is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such ineligibility or (ii) an Event of Default has
occurred and is continuing and the Registrar has received a request from the 


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Depositary for the issuance of definitive Registered Securities in exchange for Registered Global Securities, the Company will execute, and the Trustee, upon receipt of the Company’s written order for the authentication and delivery of
definitive Registered Securities of such series and tenor, will authenticate and make available for delivery Registered Securities of such series and tenor, in any authorized denominations, in an aggregate principal amount equal to the principal
amount of such Registered Global Securities, in exchange for such Registered Global Securities and such Registered Global Securities shall be canceled.


     The Company may at any time and in its sole discretion determine that any Registered Global Securities of any series shall no longer be maintained in global form. In such event the Company will execute, and the
Trustee, upon receipt of the Company’s order for the authentication and delivery of definitive Registered Securities of such series and tenor, will authenticate and make available for delivery, Registered Securities of such series and tenor in
any authorized denominations, in an aggregate principal amount equal to the principal amount of such Registered Global Securities, in exchange for such Registered Global Securities.


     Any time the Registered Securities of any series are not in the form of Registered Global Securities pursuant to the preceding two paragraphs, the Company agrees to supply the Trustee with a reasonable supply of
certificated Registered Securities without the legend required by Section 2.02 and the Trustee agrees to hold such Registered Securities in safekeeping until authenticated and delivered pursuant to the terms of this Indenture.


     If established by the Company pursuant to Section 2.03 with respect to any Registered Global Security, the Depositary for such Registered Global Security may surrender such Registered Global Security in exchange
in whole or in part for Registered Securities of the same series and tenor in definitive registered form on such terms as are acceptable to the Company and such Depositary. Thereupon, the Company shall execute, and upon the written order of the
Company the Trustee shall authenticate and make available for delivery, without service charge,


        (i) to the Person specified by such Depositary new Registered Securities of the same series and tenor, of any authorized denominations as requested by such Person, in an aggregate principal amount equal to and in
    exchange for such Person’s beneficial interest in the Registered Global Security; and

        (ii) to such Depositary a new Registered Global Security in a denomination equal to the difference, if any, between the principal amount of the surrendered Registered Global Security and the aggregate principal
    amount of Registered Securities authenticated and delivered pursuant to clause (i) above.




     Registered Securities issued in exchange for a Registered Global Security pursuant to this Section 2.07 shall be registered in such names and in such authorized denominations as the Depositary for such Registered
Global Security, pursuant to 


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instructions from its direct or indirect participants or otherwise, shall instruct the Trustee or an agent of the Company or the Trustee. The Trustee or such agent shall deliver such Debt Securities to or as directed by the Persons in whose
names such Debt Securities are so registered.


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


     Notwithstanding anything herein or in the forms or terms of any Debt Securities to the contrary, none of the Company, the Trustee or any agent of the Company or the Trustee shall be required to exchange any
Unregistered Security for a Registered Security if such exchange would result in adverse Federal income tax consequences to the Company (such as, for example, the inability of the Company to deduct from its income, as computed for Federal income tax
purposes, the interest payable on the Unregistered Securities) under then applicable United States Federal income tax laws. The Trustee and any such agent shall be entitled to rely on an Officers’ Certificate or an Opinion of Counsel in
determining such result.


     The Registrar shall not be required (i) to issue, authenticate, register the transfer of or exchange Debt Securities of any series for a period of 15 days before a selection of such Debt Securities to be redeemed
or (ii) to register the transfer of or exchange any Debt Security selected for redemption in whole or in part.


     Section 2.08 . Replacement Debt Securities. If a defaced or mutilated Debt Security of any series is surrendered to the Trustee or if a Holder claims that its Debt Security of any
series has been lost, destroyed or wrongfully taken, the Company shall issue and upon the written order of the Company the Trustee shall authenticate a replacement Debt Security of such series and tenor and principal amount bearing a number not
contemporaneously outstanding. An indemnity bond must be furnished that is sufficient in the judgment of both the Trustee and the Company to protect the Company, the Trustee and any Agent from any loss that any of them may suffer if a Debt Security
is replaced. The Company may charge such Holder for its expenses and the expenses of the Trustee (including without limitation attorneys’ fees and expenses) in replacing a Debt Security. In case any such mutilated, defaced, lost, destroyed or
wrongfully taken Debt Security has become or is about to become due and payable, the Company in its discretion may pay such Debt Security instead of issuing a new Debt Security in replacement thereof.


     Every replacement Debt Security is an additional obligation of the Company and shall be entitled to the benefits of this Indenture equally and proportionately with any and all other Debt Securities of such series
duly authenticated and delivered hereunder.


     To the extent permitted by law, the foregoing provisions of this Section are exclusive with respect to the replacement or payment of mutilated, destroyed, lost or wrongfully taken Debt Securities.


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     Section 2.09. Outstanding Debt Securities. Debt Securities outstanding at any time are all Debt Securities that have been authenticated by the Trustee except for those Debt
Securities canceled by it, those Debt Securities delivered to it for cancellation, those Debt Securities paid pursuant to Section 2.08 and those Debt Securities described in this Section as not outstanding.


     If a Debt Security is replaced pursuant to Section 2.08, it ceases to be outstanding unless and until the Trustee and the Company receive proof satisfactory to them that the replaced Debt Security is held by a
holder in due course.


     If the Paying Agent (other than the Company or an affiliate of the Company) holds on the maturity date or any redemption date or date for repurchase of the Debt Securities money sufficient to pay Debt Securities
payable or to be redeemed or repurchased on such date, then on and after such date such Debt Securities shall cease to be outstanding and interest on them shall cease to accrue.


     A Debt Security does not cease to be outstanding because the Company or one of its affiliates holds such Debt Security, provided, however, that, in determining whether the Holders
of the requisite principal amount of the outstanding Debt Securities shall have given any request, demand, authorization, direction, notice, consent or waiver hereunder, Debt Securities owned by the Company or any affiliate of the Company shall be
disregarded and deemed not to be outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Debt Securities as to which a
Responsible Officer of the Trustee has received written notice to be so owned shall be so disregarded. Any Debt Securities so owned which are pledged by the Company, or by any affiliate of the Company, as security for loans or other obligations,
otherwise than to another such affiliate of the Company, shall be deemed to be outstanding, if the pledgee is entitled pursuant to the terms of its pledge agreement and is free to exercise in its discretion the right to vote such Debt Securities,
uncontrolled by the Company or by any such affiliate.


     Section 2.10 . Temporary Debt Securities. Until definitive Debt Securities of any series are ready for delivery, the Company may prepare and upon the written order of the Company
the Trustee shall authenticate temporary Debt Securities of such series. Temporary Debt Securities of any series shall be substantially in the form of definitive Debt Securities of such series but may have insertions, substitutions, omissions and
other variations determined to be appropriate by the Officers executing the temporary Debt Securities, as evidenced by their execution of such temporary Debt Securities. If temporary Debt Securities of any series are issued, the Company will cause
definitive Debt Securities of such series to be prepared without unreasonable delay. After the preparation of definitive Debt Securities of any series, the temporary Debt Securities of such series shall be exchangeable for definitive Debt Securities
of such series and tenor upon surrender of such temporary Debt Securities at the office or agency of the Company designated for such purpose pursuant to Section 4.02, without charge to the Holder. Upon surrender for cancellation of any one or more
temporary Debt Securities of any series the Company shall execute and upon the written order of the Company the Trustee shall authenticate and make available for delivery in exchange therefor a like principal 


18






















amount of definitive Debt Securities of such series and tenor and authorized denominations. Until so exchanged, the temporary Debt Securities of any series shall be entitled to the same benefits under this Indenture as definitive Debt
Securities of such series.


     Section 2.11 . Cancellation. The Company at any time may deliver to the Trustee for cancellation any Debt Securities previously authenticated and delivered hereunder which the
Company may have acquired in any manner whatsoever, and may deliver to the Trustee for cancellation any Debt Securities previously authenticated hereunder which the Company has not issued and sold. The Registrar, any transfer agent and the Paying
Agent shall forward to the Trustee any Debt Securities surrendered to them for transfer, exchange or payment. The Trustee shall cancel all Debt Securities surrendered for transfer, exchange, payment or cancellation and shall deliver such canceled
Debt Securities to the Company. The Company may not issue new Debt Securities to replace Debt Securities it has paid in full or delivered to the Trustee for cancellation.


     Section 2.12 . CUSIP Numbers. The Company in issuing the Debt Securities may use “CUSIP” and “ISIN” numbers (if then generally in use), and the Trustee shall
use CUSIP numbers or ISIN numbers, as the case may be, in notices of redemption or exchange as a convenience to Holders and no representation shall be made as to the correctness of such numbers either as printed on the Debt Securities or as
contained in any notice of redemption or exchange. The Company shall promptly notify the Trustee of any change in the CUSIP Numbers.


     Section 2.13 . Defaulted Interest. If the Company defaults in a payment of interest on the Debt Securities, it shall pay, or shall deposit with the Paying Agent money in
immediately available funds sufficient to pay, the defaulted interest plus (to the extent lawful) any interest payable on the defaulted interest (as may be specified in the terms thereof, established pursuant to Section 2.03) to the Persons who are
Holders on a subsequent special record date, which shall mean the 15th day next preceding the date fixed by the Company for the payment of defaulted interest, whether or not such day is a Business Day. At least 15 days before such special record
date, the Company shall mail to each Holder and to the Trustee a notice that states the special record date, the payment date and the amount of defaulted interest to be paid.


     Section 2.14 . Series May Include Tranches. A series of Debt Securities may include one or more tranches (each a “tranche”) of Debt
Securities, including Debt Securities issued in a Periodic Offering. The Debt Securities of different tranches may have one or more different terms, including authentication dates and public offering prices, but all the Debt Securities within each
such tranche shall have identical terms, including authentication date and public offering price. Notwithstanding any other provision of this Indenture, with respect to Sections 2.02 (other than the fourth paragraph thereof) through 2.04, 2.07,
2.08, 2.10, 3.01 through 3.05, 4.02, 6.01 through 6.12, 8.01 through 8.06 and 9.02, if any series of Debt Securities includes more than one tranche, all provisions of such sections applicable to any series of Debt Securities shall be deemed equally
applicable to each tranche of any series of Debt Securities in the same manner as though originally designated a series unless otherwise provided with respect to such 


19






















series or tranche pursuant to Section 2.03. In particular, and without limiting the scope of the next preceding sentence, any of the provisions of such sections which provide for or permit action to be taken with respect to a series of Debt
Securities shall also be deemed to provide for and permit such action to be taken instead only with respect to Debt Securities of one or more tranches within that series (and such provisions shall be deemed satisfied thereby), even if no comparable
action is taken with respect to Debt Securities in the remaining tranches of that series.


     Section 2.15 . Computation of Interest. Except as otherwise specified pursuant to Section 2.03 for Debt Securities of any series, interest on the Debt Securities of each series
shall be computed on the basis of a 360-day year of twelve 30-day months.


ARTICLE 3

REDEMPTION



     Section 3.01. Applicability of Article. The provisions of this Article shall be applicable to the Debt Securities of any series which are redeemable before their maturity or to any
sinking fund for the retirement of Debt Securities of a series except as otherwise specified as contemplated by Section 2.03 for Debt Securities of such series.


     Section 3.02 . Notice of Redemption; Partial Redemptions. Notice of redemption to the Holders of Registered Securities of any series to be redeemed as a whole or in part at the
option of the Company shall be given by mailing notice of such redemption by first class mail, postage prepaid, at least 30 days and not more than 60 days prior to the date fixed for redemption to such Holders of Registered Securities of such series
at their last addresses as they shall appear upon the Security Register of the Company. Notice of redemption to the Holders of Unregistered Securities of any series to be redeemed as a whole or in part, who have filed their names and addresses with
the Trustee pursuant to Section 313(c)(2) of the Trust Indenture Act, shall be given by mailing notice of such redemption, by first class mail, postage prepaid, at least 30 days and not more than 60 days prior to the date fixed for redemption, to
such Holders at such addresses as were so furnished to the Trustee (and, in the case of any such notice given by the Company, the Trustee shall make such information available to the Company for such purpose). Notice of redemption to all other
Holders of Unregistered Securities of any series to be redeemed as a whole or in part shall be published in an Authorized Newspaper in The City of New York and in an Authorized Newspaper in London, in each case, once in each of three successive
calendar weeks, the first publication to be not less than 30 days nor more than 60 days prior to the date fixed for redemption. Any notice which is mailed or published in the manner herein provided shall be conclusively presumed to have been duly
given, whether or not the Holder receives the notice. Failure to give notice by mail, or any defect in the notice to the Holder of any Debt Security of a series designated for redemption as a whole or in part shall not affect the validity of the
proceedings for the redemption of any other Debt Security of such series.


     The notice of redemption to each such Holder shall specify the principal amount of each Debt Security of such series held by such Holder to be redeemed, the CUSIP and 


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ISIN numbers of the Debt Securities to be redeemed, the date fixed for redemption, the redemption price, the place or places of payment, that payment will be made upon presentation and surrender of such Debt Securities and, in the case of Debt
Securities with coupons attached thereto, of all coupons appertaining thereto maturing after the date fixed for redemption, that such redemption is pursuant to the mandatory or optional sinking fund, or both, if such be the case, that interest
accrued to the date fixed for redemption will be paid as specified in such notice and that on and after said date interest thereon or on the portions thereof to be redeemed will cease to accrue. In case any Debt Security of a series is to be
redeemed in part only, the notice of redemption shall state the portion of the principal amount thereof to be redeemed and shall state that on and after the date fixed for redemption, upon surrender of such Debt Security, a new Debt Security or
Securities of such series and tenor in principal amount equal to the unredeemed portion thereof will be issued.


     The notice of redemption of Debt Securities of any series to be redeemed at the option of the Company shall be given by the Company or, at the Company’s request, by the Trustee in the name and at the expense
of the Company; provided however if the Trustee is asked to give the Notice, the Company will give the Trustee five Business Days prior notice if such request.


     On or before 10:00 a.m. New York City time on the redemption date specified in the notice of redemption given as provided in this Section, the Company will deposit with the Trustee or with one or more Paying
Agents (or, if the Company is acting as its own Paying Agent, set aside, segregate and hold in trust as provided in Section 2.06) an amount of money sufficient to redeem on the redemption date all the Debt Securities of such series so called for
redemption at the appropriate redemption price, together with accrued interest to the date fixed for redemption. If all of the outstanding Debt Securities of a series are to be redeemed, the Company will deliver to the Trustee at least 10 days prior
to the last date on which notice of redemption may be given to Holders pursuant to the first paragraph of this Section 3.02 (or such shorter period as shall be acceptable to the Trustee) an Officers’ Certificate stating that all such Debt
Securities are to be redeemed. If less than all the outstanding Debt Securities of a series are to be redeemed, the Company will deliver to the Trustee at least 15 days prior to the last date on which notice of redemption may be given to Holders
pursuant to the first paragraph of this Section 3.02 (or such shorter period as shall be acceptable to the Trustee) an Officers’ Certificate stating the aggregate principal amount of such Debt Securities to be redeemed. In case of a redemption
at the election of the Company prior to the expiration of any restriction on such redemption, the Company shall deliver to the Trustee, prior to the giving of any notice of redemption to Holders pursuant to this Section, an Officers’
Certificate stating that such redemption is not prohibited by such restriction.


     If less than all the Debt Securities of a series are to be redeemed, the Trustee shall select, pro rata, by lot or in such manner as it shall deem appropriate and fair, Debt Securities of such series to be
redeemed in whole or in part. Debt Securities may be redeemed in part in multiples equal to the minimum authorized denomination for Debt Securities of such series or any multiple thereof. The Trustee shall promptly notify the Company in writing of
the Debt Securities of such series selected for redemption and, in 


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the case of any Debt Securities of such series selected for partial redemption, the principal amount thereof to be redeemed. For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption
of Debt Securities shall relate, in the case of any Debt Security redeemed or to be redeemed only in part, to the portion of the principal amount of such Debt Security which has been or is to be redeemed.


     Section 3.03 . Payment of Debt Securities Called for Redemption. If notice of redemption has been given as above provided, the Debt Securities or portions of Debt Securities
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 on and after such date (unless the
Company shall default in the payment of such Debt Securities at the redemption price, together with interest accrued to such date) interest on the Debt Securities or portions of Debt Securities so called for redemption shall cease to accrue, and the
unmatured coupons, if any, appertaining thereto shall be void and, except as provided in Sections 7.11 and 8.05, such Debt Securities shall cease from and after the date fixed for redemption to be entitled to any benefit under this Indenture, and
the Holders thereof shall have no right in respect of such Debt Securities except the right to receive the redemption price thereof and unpaid interest to the date fixed for redemption. On presentation and surrender of such Debt Securities at a
place of payment specified in said notice, together with all coupons, if any, appertaining thereto maturing after the date fixed for redemption, said Debt Securities or the specified portions thereof shall be paid and redeemed by the Company at the
applicable redemption price, together with interest accrued thereon to the date fixed for redemption; provided that payment of interest becoming due on or prior to the date fixed for redemption shall be payable in
the case of Debt Securities with coupons attached thereto, to the Holders of the coupons for such interest upon surrender thereof, and in the case of Registered Securities, to the Holders of such Registered Securities registered as such on the
relevant record date subject to the terms and provisions of Sections 2.04 and 2.13 hereof.


     If any Debt Security called for redemption shall not be so paid upon surrender thereof for redemption, the Principal shall, until paid or duly provided for, bear interest from the date fixed for redemption at the
rate of interest or Yield to Maturity (in the case of an Original Issue Discount Debt Security) borne by such Debt Security.


     If any Debt Security with coupons attached thereto is surrendered for redemption and is not accompanied by all appurtenant coupons maturing after the date fixed for redemption, the surrender of such missing coupon
or coupons may be waived by the Company and the Trustee, if there be furnished to each of them such security or indemnity as they may require to save each of them harmless.


     Upon presentation of any Debt Security of any series redeemed in part only, the Company shall execute and upon the written order of the Company the Trustee shall authenticate and make available for delivery to or
on the order of the Holder thereof, at the expense of the Company, a new Debt Security or Securities of such series and tenor 


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(with any unmatured coupons attached), of authorized denominations, in principal amount equal to the unredeemed portion of the Debt Security so presented.


     Section 3.04 . Exclusion of Certain Debt Securities from Eligibility for Selection for Redemption. Debt Securities shall be excluded from eligibility for selection for redemption
if they are identified by registration and certificate number in a written statement signed by an Officer of the Company and delivered to the Trustee at least 40 days prior to the last date on which notice of redemption may be given as being owned
of record and beneficially by, and not pledged or hypothecated by either (a) the Company or (b) an entity specifically identified in such written statement as directly or indirectly controlling or controlled by or under direct or indirect common
control with the Company.


     Section 3.05 . Mandatory and Optional Sinking Funds. The minimum amount of any sinking fund payment provided for by the terms of the Debt 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 the Debt Securities of any series is herein referred to as an
“optional sinking fund payment.” The date on which a sinking fund payment is to be made is herein referred to as the “sinking fund payment date.”


     In lieu of making all or any part of any mandatory sinking fund payment with respect to any series of Debt Securities in cash, the Company may at its option (a) deliver to the Trustee Debt Securities of such
series theretofore purchased or otherwise acquired (except through a mandatory sinking fund payment) by the Company or receive credit for Debt Securities of such series (not previously so credited) theretofore purchased or otherwise acquired (except
as aforesaid) by the Company and delivered to the Trustee for cancellation pursuant to Section 2.11, (b) receive credit for optional sinking fund payments (not previously so credited) made pursuant to this Section, or (c) receive credit for Debt
Securities of such series (not previously so credited) redeemed by the Company through any optional sinking fund payment. Debt Securities so delivered or credited shall be received or credited by the Trustee at the sinking fund redemption price
specified in such Debt Securities.


     On or before the sixtieth day next preceding each sinking fund payment date for any series, or such shorter period as shall be acceptable to the Trustee, the Company will deliver to the Trustee an Officers’
Certificate (a) specifying the portion of the mandatory sinking fund payment to be satisfied by payment of cash and the portion to be satisfied by credit of specified Debt Securities of such series and the basis for such credit, (b) stating that
none of the specified Debt Securities of such series has theretofore been so credited, (c) stating that no defaults in the payment of interest or Events of Default with respect to such series have occurred (which have not been waived or cured) and
are continuing and (d) stating whether or not the Company intends to exercise its right to make an optional sinking fund payment with respect to such series and, if so, specifying the amount of such optional sinking fund payment which the Company
intends to pay on or before the next succeeding sinking fund payment date. Any Debt Securities of such series to be credited and required to be delivered to the Trustee in order for the Company to be entitled to credit therefor as aforesaid which
have not theretofore been delivered to the Trustee shall 


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be delivered for cancellation pursuant to Section 2.11 to the Trustee with such Officers’ Certificate (or reasonably promptly thereafter if acceptable to the Trustee). Such Officers’ Certificate shall be irrevocable and upon its
receipt by the Trustee the Company shall become unconditionally obligated to make all the cash payments or delivery of Debt Securities therein referred to, if any, on or before the next succeeding sinking fund payment date. Failure of the Company,
on or before any such sixtieth day, to deliver such Officer’s Certificate and Debt Securities specified in this paragraph, if any, shall not constitute a default but shall constitute, on and as of such date, the irrevocable election of the
Company (i) that the mandatory sinking fund payment for such series due on the next succeeding sinking fund payment date shall be paid entirely in cash without the option to deliver or credit Debt Securities of such series in respect thereof and
(ii) that the Company will make no optional sinking fund payment with respect to such series as provided in this Section.


     If the sinking fund payment or payments (mandatory or optional or both) to be made in cash on the next succeeding sinking fund payment date plus any unused balance of any preceding sinking fund payments made in
cash shall exceed $50,000 (or a lesser sum if the Company shall so request with respect to the Debt Securities of any series), such cash shall be applied on the next succeeding sinking fund payment date to the redemption of Debt Securities of
such series at the sinking fund redemption price thereof together with accrued interest thereon to the date fixed for redemption. If such amount shall be $50,000 (or such lesser sum) or less and the Company makes no such request then it shall be
carried over until a sum in excess of $50,000 (or such lesser sum) is available. The Trustee shall select, in the manner provided in Section 3.02, for redemption on such sinking fund payment date a sufficient principal amount of Debt Securities
of such series to absorb said cash, as nearly as may be, and shall (if requested in writing by the Company) inform the Company of the serial numbers of the Debt Securities of such series (or portions thereof) so selected. Debt Securities shall be
excluded from eligibility for redemption under this Section if they are identified by registration and certificate number in an Officers’ Certificate delivered to the Trustee at least 60 days prior to the sinking fund payment date as being
owned of record and beneficially by, and not pledged or hypothecated by either (a) the Company or (b) an entity specifically identified in such Officers’ Certificate as directly or indirectly controlling or controlled by or under direct or
indirect common control with the Company. The Trustee, in the name and at the expense of the Company (or the Company, if it shall so request the Trustee in writing) shall cause notice of redemption of the Debt Securities of such series to be given
in substantially the manner provided in Section 3.02 (and with the effect provided in Section 3.03) for the redemption of Debt Securities of such series in part at the option of the Company. The amount of any sinking fund payments not so applied or
allocated to the redemption of Debt Securities of such series shall be added to the next cash sinking fund payment for such series and, together with such payment, shall be applied in accordance with the provisions of this Section. Any and all
sinking fund moneys held on the stated maturity date of the Debt Securities of any particular series (or earlier, if such maturity is accelerated), which are not held for the payment or redemption of particular Debt Securities of such series shall
be applied, together with other moneys, if necessary, sufficient for the purpose, to the payment of the Principal of, and interest on, the Debt Securities of such series at maturity.


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     On or before 10:00 a.m. New York City time on each sinking fund payment date, the Company shall pay to the Trustee in cash or shall otherwise provide for the payment of all interest accrued to the date fixed for
redemption on Debt Securities to be redeemed on the next following sinking fund payment date.


     The Trustee shall not redeem or cause to be redeemed any Debt Securities of a series with sinking fund moneys or mail any notice of redemption of Debt Securities of such series by operation of the sinking fund
during the continuance of a Default in payment of interest on such Debt Securities or of any Event of Default except that, where the mailing of notice of redemption of any Debt Securities shall theretofore have been made, the Trustee shall redeem or
cause to be redeemed such Debt Securities, provided that it shall have received from the Company a sum sufficient for such redemption. Except as aforesaid, any moneys in the sinking fund for such series at the time when any such Default or Event of
Default shall occur, and any moneys thereafter paid into the sinking fund, shall, during the continuance of such default or Event of Default, be deemed to have been collected under Article 6 and held for the payment of all such Debt Securities. In
case such Event of Default shall have been waived as provided in Section 6.04 or the Default cured on or before the sixtieth day preceding the sinking fund payment date in any year, such moneys shall thereafter be applied on the next succeeding
sinking fund payment date in accordance with this Section to the redemption of such Debt Securities.


ARTICLE 4

COVENANTS


     Section 4.01. Payment of Principal, Premium and Interest. The Company shall duly and punctually pay the principal of (and premium, if any) and interest on each series of Debt
Securities in accordance with the terms of this Indenture and the Debt Securities of such series. Unless otherwise specified in any series of Debt Securities, interest on the Debt Securities of each series will be computed on the basis of a 360-day
year comprised of twelve 30-day months.


     Section 4.02 . Maintenance of Office or Agency. The Company shall maintain an office or agency (which may be an office of the Trustee or an affiliate of the Trustee, Registrar or
co-registrar) where any series of Debt Securities may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Debt Securities of such series and this Indenture may be served. The
Company shall give prompt written notice to the Trustee of the location, and any change in such location, of such office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the
Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee.


     The Company also from time to time may designate one or more additional offices or agencies where the Debt Securities of any series may be presented or surrendered for any or all such purposes and from time to
time may rescind any such 


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designation; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency for such purposes. The Company shall give prompt written notice to the Trustee of
any such designation or rescission and of any change in the location of any such other office or agency.


     Section 4.03 . Reports By The Company. So long as the Debt Securities of any series are outstanding, the Company will file with the Trustee such information, documents and other
reports as may be required to comply with the provisions of TIA § 314(a), provided that (i) any failure of the Company to comply with this provision shall not constitute a Default or an Event of Default and (ii)
only the Trustee may institute a legal proceeding against the Company to enforce such delivery obligation.


     Delivery of such information, documents and reports to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained
therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates).


     Section 4.04 . Restrictions on Secured Funded Debt. With respect to the Debt Securities of any series, the Company will not, nor will it permit any Restricted Subsidiary to, incur,
issue, assume, guarantee or create any Secured Debt, without effectively providing concurrently with the incurrence, issuance, assumption, guaranty or creation of any such Secured Debt that the Debt Securities of such series (together with, if the
Company shall so determine, any other Indebtedness of the Company or such Restricted Subsidiary then existing or thereafter created which is not subordinated to the Debt Securities) will be secured equally and ratably with (or prior to) such Secured
Debt, unless, after giving effect thereto, the sum of the aggregate amount of all outstanding Secured Debt of the Company and its Restricted Subsidiaries together with all Attributable Debt in respect of sale and leaseback transactions relating to a
Principal Property (with the exception of Attributable Debt which is excluded pursuant to clauses 4.05(i) to 4.05(viii) of Section 4.05), would not exceed 15% of Consolidated Net Tangible Assets; provided, however, that this Section 4.04 shall not
apply to, and there shall be excluded from Secured Debt in any computation under this Section 4.04 and under Section 4.05, Indebtedness secured by:


        (i) Liens on property, shares of Capital Stock or Indebtedness of any corporation existing at the time such corporation becomes a Subsidiary of the Company;

        (ii) Liens on property, shares of Capital Stock or Indebtedness existing at the time of acquisition thereof or incurred within 360 days of the time of acquisition thereof (including, without limitation,
    acquisition through merger or consolidation) by the Company or any Restricted Subsidiary;




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     (iii) Liens on property, shares of Capital Stock or Indebtedness thereafter acquired (or constructed) by the Company or any Restricted Subsidiary and created prior to, at the time of, or within 360 days (or
thereafter if such Lien is created pursuant to a binding commitment entered into prior to, at the time of or within 360 days) after such acquisition (including, without limitation, acquisition through merger or consolidation) (or the completion of
such construction or commencement of commercial operation of such property, whichever is later) to secure or provide for the payment of all or any part of the purchase price (or the construction price) thereof;

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

       (v) Liens
  in favor of the United States of America, any State thereof or the
  District of Columbia or any foreign government, or any agency, department
  or other instrumentality thereof, to secure partial, progress, advance or
  other payments pursuant to any contract or provisions of any statute;


     (vi) Liens incurred or assumed in connection with the issuance of revenue bonds the interest on which is exempt from federal income taxation pursuant to Section 103(b) of the Internal Revenue Code;


     (vii) Liens securing the performance of any contract or undertaking not directly or indirectly in connection with the borrowing of money, the obtaining of advances or credit or the securing of Indebtedness, if
made and continuing in the ordinary course of business;


     (viii) Liens incurred (no matter when created) in connection with the Company’s or a Restricted Subsidiary’s engaging in leveraged or single-investor lease transactions; provided, however, that the
instrument creating or evidencing any borrowings secured by such Lien will provide that such borrowings are payable solely out of the income and proceeds of the property subject to such Lien and are not a general obligation of the Company or such
Restricted Subsidiary;


     (ix) Liens in favor of a governmental agency to qualify the Company or any Restricted Subsidiary to do business, maintain self insurance or obtain other benefits, or Liens under workers’ compensation laws,
unemployment insurance laws or similar legislation;


     (x) good faith deposits in connection with bids, tenders, contracts or deposits to secure public or statutory obligations of the Company or any Restricted Subsidiary, or deposits of cash or obligations of the
United States of America to secure surety and appeal bonds to which the Company or any Restricted Subsidiary is a party or in lieu of such bonds, or pledges or deposits for similar purposes in the ordinary course of business;


     (xi) Liens imposed by law, such as laborers’ or other employees’, carriers’, warehousemen’s, mechanics’, materialmen’s and vendors’ Liens;


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     (xii) Liens arising out of judgments or awards against the Company or any Restricted Subsidiary with respect to which the Company or such Restricted Subsidiary at the time shall be prosecuting an appeal or
proceedings for review or Liens arising out of individual final judgments or awards in amounts of less than $1,000,000; provided that the aggregate amount of all such individual final judgments or awards shall not at any one time exceed
$1,000,000;


     (xiii) Liens for taxes, assessments, governmental charges or levies not yet subject to penalties for nonpayment or the amount or validity of which is being in good faith contested by appropriate proceedings by the
Company or any Restricted Subsidiary, as the case may be;


     (xiv) Minor survey exceptions, minor encumbrances, easements or reservations of, or rights of others for, rights of way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning
or other restrictions or Liens as to the use of real properties, which Liens, exceptions, encumbrances, easements, reservations, rights and restrictions do not, in the opinion of the Company, in the aggregate materially detract from the value of
said properties or materially impair their use in the operation of the business of the Company and its Restricted Subsidiaries;


     (xv) Liens incurred to finance all or any portion of the cost of construction, alteration or repair of any Principal Property or improvements thereto created prior to or within 360 days (or thereafter if such Lien
is created pursuant to a binding commitment to lend entered into prior to, at the time of, or within 360 days) after completion of such construction, alteration or repair;


     (xvi) Liens existing on the date of the original issuance of the Debt Securities of such series;


     (xvii) Liens created in connection with a project financed with, and created to secure, a Nonrecourse Obligation; or


     (xviii) Any extension, renewal, refunding or replacement of the foregoing; provided that (i) such extension, renewal, refunding or replacement Lien shall be limited to all or a part of the same property that
secured the Lien extended, renewed, refunded or replaced (plus improvements on such property) and (ii) the Funded Debt secured by such Lien at such time is not increased.


     Section 4.05 . Limitation on Sale/Leaseback Transactions. The Company will not, nor will it permit any Restricted Subsidiary to, enter into any arrangement with any Person
providing for the leasing by the Company or any Restricted Subsidiary of any Principal Property of the Company or any Restricted Subsidiary (which lease is required by GAAP to be capitalized on the balance sheet of such lessee), which Principal
Property has been or is to be sold or transferred by the Company or such Restricted Subsidiary to such person (a “Sale and Leaseback Transaction”) unless, after giving effect thereto, the aggregate amount
of all Attributable Debt with respect to all such Sale and Leaseback


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Transactions plus all Secured Debt (with the exception of Funded Debt secured by Liens which is excluded pursuant to clauses 4.04(i) to 4.04(xviii) of Section 4.04) would not exceed 15% of Consolidated Net Tangible Assets. This covenant will
not apply to, and there will be excluded from Attributable Debt in any computation under Section 4.04 or this Section 4.05, Attributable Debt with respect to any sale and leaseback transaction if:


        (i) the Company or a Restricted Subsidiary is permitted to create Funded Debt secured by a Lien pursuant to clauses 4.04(i) to 4.04(xviii) of Section 4.04 on the Principal Property to be leased, in an amount equal
    to the Attributable Debt with respect to such Sale and Leaseback Transaction, without equally and ratably securing the Debt Securities;

        (ii) the property leased pursuant to such arrangement is sold for a price at least equal to such property’s fair market value (as determined by the Chief Executive Officer, the President, the Chief Financial
    Officer, the Treasurer or the Controller of the Company) and the Company or a Restricted Subsidiary, within 360 days after the sale or transfer shall have been made by the Company or a Restricted Subsidiary, shall apply the proceeds thereof to the
    retirement of Indebtedness or Funded Debt of the Company or any Restricted Subsidiary (other than Indebtedness or Funded Debt owed by the Company or any Restricted Subsidiary); provided, however, that no retirement referred to in this clause
    4.05(ii) may be effected by payment at maturity or pursuant to any mandatory sinking fund payment provision of Indebtedness or Funded Debt;

        (iii) the Company or a Restricted Subsidiary applies the net proceeds of the sale or transfer of the Principal Property leased pursuant to such transaction to the purchase of assets (and the cost of construction
    thereof) within 360 days prior or subsequent to such sale or transfer;

        (iv) the effective date of any such arrangement or the purchaser’s commitment therefor is within 36 months prior or subsequent to the acquisition of the Principal Property (including, without limitation,
    acquisition by merger or consolidation) or the completion of construction and commencement of operation thereof (which, in the case of a retail store, is the date of opening to the public), whichever is later;

        (v) the lease in such Sale and Leaseback Transaction is for a term, including renewals, of not more than three years;

        (vi) the Sale and Leaseback Transaction is entered into between the Company and a Restricted Subsidiary or between Restricted Subsidiaries,

        (vii) the lease secures or relates to industrial revenue or pollution control bonds; or

        (viii) the lease payment is created in connection with a project financed with, and such obligation constitutes, a Nonrecourse Obligation.




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     Section 4.06. Compliance Certificates. The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year, beginning December 31, 2006, an Officers’
Certificate stating that a review of the activities of the Company and its Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officers with a view to determining whether the Company has kept, observed,
performed and fulfilled its obligations under this Indenture, and further stating, as to each such Officer signing such Officers’ Certificate, that to the best of his or her knowledge the Company has kept, observed, performed and fulfilled each
covenant contained in this Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions of this Indenture (or, if a Default or Event of Default shall have occurred, describing all such Defaults or
Events of Default of which he or she may have knowledge and what action each is taking or proposes to take with respect thereto). The Company shall also comply with TIA § 314(a)(4).


     Section 4.07 . Further Instruments And Acts. Upon request of the Trustee, or as necessary the Company will execute and deliver such further instruments and do such further acts as
may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture.


     Section 4.08 . Calculation of Original Issue Discount. If any Debt Securities of any series shall be issued with original issue discount for U.S. federal income tax purposes, then
the Company shall file with the Trustee promptly at the end of each calendar year in which such Debt Securities (the “OID Debt Securities”) are outstanding:


        (i) a written notice specifying the amount of original issue discount (including daily rates and accrual periods) accrued on the outstanding OID Debt Securities as of the end of such year; and

        (ii) such other specific information relating to such original issue discount as may then be relevant under the Code.




ARTICLE 5

SUCCESSORS


      Section 5.01.
When the Company May Merge, Consolidate or Dispose of Assets. The
Company shall not consolidate with, merge with or into, or sell, convey, transfer,
lease or otherwise dispose of all or substantially all of its property and assets
(as an entirety or substantially as an entirety in one transaction or a  series
of related transactions) to, any Person (other than a consolidation with or
merger with or into a Restricted Subsidiary or a sale, conveyance, transfer,
lease or other disposition to a Restricted Subsidiary) or permit any Person
to merge with  or into the Company unless:


        (i) either (a) the Company shall be the continuing Person (the “Successor Company”) or (b) the Successor Company (if other than the Company) formed by such consolidation
    or into which the Company is merged or




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    that acquired or leased such property and assets of the Company shall be a corporation organized and validly existing under the laws of the United States of America or any jurisdiction thereof and shall expressly assume, by a supplemental
      indenture, executed and delivered to the Trustee, all of the obligations of the Company under each series of Debt Securities and this Indenture, and the Company shall have delivered to the Trustee an Opinion of Counsel stating that such
      consolidation, merger or transfer and such supplemental indenture complies with this provision and that all conditions precedent provided for in this Indenture relating to such transaction have been complied with and that such supplemental indenture
    constitutes the legal, valid and binding obligation of the Company or such successor enforceable against such entity in accordance with its terms, subject to customary exceptions; and

        (ii) the Company shall have delivered to the Trustee an Officers’ Certificate to the effect that immediately after giving effect to such transaction, no Default shall have occurred and be continuing and an
    opinion of counsel as to the matters set forth in paragraph 5.01(i) above.




     Section 5.02 . Successor Company Substituted. The Successor Company shall be the successor to the Company and shall succeed to, and be substituted for, and may exercise every right
and power of, the Company under this Indenture, but the predecessor Person in the case of a conveyance, transfer or lease shall not be released from the obligation to pay the principal of and interest on the Debt Securities.


ARTICLE 6

DEFAULT AND REMEDIES


     Section 6.01. Events of Default. Each of the following shall constitute an “Event of Default” with respect to each series of Debt Securities individually:


        (i) the Company defaults in the payment of all or any part of the principal of the Debt Securities of such series when the same becomes due and payable at maturity, upon acceleration, redemption or mandatory
    repurchase, including as a sinking fund installment, or otherwise;

        (ii) the Company defaults in the payment of any interest on the Debt Securities of such series when the same becomes due and payable, and such default continues for a period of 30 days;

        (iii) the Company defaults in the performance of or breaches any other covenant or agreement of the Company in the Indenture (other than any covenant or agreement in this Indenture that expressly provides that a
    violation of such covenant or agreement shall not constitute an Event of Default) and such default or breach continues for a period of 60 consecutive days after written notice thereof has been given to the Company by the Trustee or to the Company
    and the




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    Trustee by the Holders of 25% or more in aggregate principal amount of the Debt Securities of such series;

        (iv) an involuntary case or other proceeding shall be commenced against the Company with respect to the Company or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect seeking
    the appointment or a trustee, receiver, liquidator, custodian or other similar official of the Company or for any substantial part of the property and assets of the Company, and such involuntary case or other proceeding shall remain undismissed and
    unstayed for a period of 60 days; or an order for relief shall be entered against the Company under any bankruptcy, insolvency or other similar law now or hereafter in effect;

        (v) the Company (1) commences a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or consents to the entry of an order for relief in an involuntary case
    under any such law, (2) consents to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of the Company or for all or substantially all of the property and assets of the
    Company or (3) effects any general assignment for the benefit of creditors;

        (vi) an event of default as defined in any one or more indentures or instruments evidencing or under which the Company has at the date of this Indenture or shall thereafter have outstanding an aggregate of at
    least $50,000,000 aggregate principal amount of indebtedness for borrowed money, shall happen and be continuing and such indebtedness shall have been accelerated so that the same shall be or become due and payable prior to the date on which the
    same would otherwise have become due and payable and such acceleration shall not be rescinded or annulled within ten days after notice thereof shall have been given to the Company by the Trustee (if such event be known to it), or to the Company and
    the Trustee by the Holders of at least 25% in aggregate principal amount of the Debt Securities of such series at the time outstanding; provided that if such event of default under such indentures or instruments shall be remedied or cured by the
    Company or waived by the holders of such indebtedness, then the Event of Default under this clause 6.01(vi) shall be deemed likewise to have been thereupon remedied, cured or waived without further action upon the part of either the Trustee or any
    of the Holders of such series; and

        (vii) failure by the Company to make any payment at maturity, including any applicable grace period, in respect of at least $50,000,000 aggregate principal amount of indebtedness for borrowed money and such
    failure shall have continue for a period of ten days after notice thereof shall have been given to the Company by the Trustee (if such event be known to it), or to the Company and the Trustee by the Holders of at least 25% in aggregate principal
    amount of the Debt Securities of such series at the time outstanding; provided that if such failure shall be remedied or cured by the Company or waived by the holders of such indebtedness, then the Event of Default under this clause 6.01(vii) shall
    be 




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    deemed likewise to have been thereupon remedied, cured or waived without further action upon the part of either the Trustee or any of the Holders of such series.




     The foregoing will constitute Events of Default whatever the reason for any such Event of Default and whether it is voluntary or involuntary or is effected by operation of law or pursuant to any judgment, decree
or order of any court or any order, rule or regulation of any administrative or governmental body.


     The Company shall deliver to the Trustee, within 30 days after the occurrence thereof, an Officers’ Certificate of any Event of Default pursuant to clause 6.01(iii), clause 6.01(iv), clause 6.01(v), clause
6.01(vi), or clause 6.01(vii) and any event which with the giving of notice or the lapse of time would become an Event of Default, its status and what action the Company is taking or proposes to take in respect thereof.


     Section 6.02 . Acceleration. If an Event of Default occurs and is continuing, then, and in each and every such case, either the Trustee or the Holders of not less than 25% in
aggregate principal amount of the Debt Securities of such series then outstanding by notice in writing to the Company (and to the Trustee if given by Holders), may declare the entire outstanding principal amount of all Debt Securities of such
series, and the interest accrued thereon, if any, to be immediately due and payable (collectively, the “Default Amount”). Upon such a declaration, the Default Amount shall be due and payable immediately. Notwithstanding the foregoing, in
case of an Event of Default specified in clause 6.01(iv) or clause 6.01(v) of Section 6.01 with respect to a series of Debt Securities, then the principal amount of all the Debt Securities of such series then outstanding and interest accrued
thereon, if any, shall be and become immediately due and payable, without any notice or other action by any Holder of the Debt Securities of such series or the Trustee to the full extent permitted by applicable law. The Holders of a majority in
aggregate principal amount of the then outstanding Debt Securities of such series by written notice to the Trustee may on behalf of all of the Holders of the Debt Securities of such series rescind an acceleration and its consequences if the
rescission would not conflict with any judgment or decree and if all existing Events of Default (except nonpayment of principal, interest or premium that has become due solely because of the acceleration) have been cured or waived.


     Section 6.03 . Other Remedies. If an Event of Default with respect to a series of Debt Securities occurs and is continuing, the Trustee may pursue any available remedy to collect
the payment of principal, premium, if any, and interest on the Debt Securities of such series or to enforce the performance of any provision of the Debt Securities of such series and this Indenture.


     The Trustee may maintain a proceeding even if it does not possess any of the Debt Securities of such series or does not produce any such Debt Securities in the proceeding. A delay or omission by the Trustee or any
Holder of a Debt Security of such series in exercising any right or remedy accruing upon any Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in such Event of 


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Default. No remedy shall be exclusive of any other remedy. All remedies shall be cumulative to the extent permitted by law.


     Section 6.04 . Waiver of Past Defaults. Holders of at least a majority in principal amount of the outstanding Debt Securities of any series, by notice to the Trustee, may waive an
existing Default or Event of Default and its consequences, except (i) a Default in the payment of principal of or interest on any Debt Securities of such series as specified in clauses 6.01(i) or 6.01(ii) of Section 6.01 or (ii) a Default in respect
of a covenant or provision that under Section 9.02 cannot be modified or amended without the consent of the Holder of each outstanding Debt Securities of such series affected. Upon any such waiver, such Default shall cease to exist with respect to
the Debt Securities of such series, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair
any right consequent thereto.


     Section 6.05 . Control by Majority. Holders of at least a majority in aggregate principal amount of the outstanding Debt Securities of any series may 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 by this Indenture with respect to the Debt Securities of such series; provided that the Trustee may refuse to follow
any direction that conflicts with law or this Indenture, that, subject to Section 7.01 may involve the Trustee in personal liability, or that the Trustee determines in good faith may be prejudicial to the rights of Holders of such series not joining
in the giving of such direction; and provided further that the Trustee may take any other action it deems proper that is not inconsistent with any directions received from Holders of Debt Securities of such series pursuant to this Section
6.05.


     Section 6.06 . Limitation on Suits. No Holder of any Debt Securities of any series may institute any proceeding, judicial or otherwise, with respect to this Indenture or the Debt
Securities of such series, or for the appointment of a receiver or trustee, or for any other remedy under this Indenture, unless:


        (i) such Holder has previously given to the Trustee written notice of a continuing Event of Default;

        (ii) the Holders of at least 25% in aggregate principal amount of outstanding Debt Securities of such series shall have made written request to the Trustee to institute proceedings in respect of such Event of
    Default in its own name as Trustee under the Indenture;

        (iii) such Holder or Holders have offered to the Trustee indemnity reasonably satisfactory to the Trustee against any costs, liabilities or expenses to be incurred in compliance with such request;

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




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        (v) during such 60-day period, the Holders of a majority in aggregate principal amount of the outstanding Debt Securities of such series have not given the Trustee a direction that is inconsistent with such
    written request.




     A Holder of Debt Securities of any series may not use this Indenture to prejudice the rights of another Holder of such series or to obtain a preference or priority over such other Holder.


     Section 6.07 . Unconditional Right of Holders of Debt Securities to Receive Payment. Notwithstanding any other provision of this Indenture, the right of any Holder of a Debt
Security to receive payment of principal, premium, if any, and interest on such Debt Security, on or after the respective due dates expressed in such Debt Security, or to bring suit for the enforcement of any such payment on or after such respective
dates, shall not be impaired or affected without the consent of any such Holder of a Debt Security.


     Section 6.08 . Collection Suit by Trustee. If an Event of Default specified in Section 6.01(i) or Section 6.01(ii) occurs and is continuing, the Trustee may recover judgment in its
own name and as trustee of an express trust against the Company for the entire amount then due and owing, plus the amounts provided for in Section 7.07.


     Section 6.09 . Trustee May File Proofs of Claim. The Trustee may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the
claims of the Trustee and the Holders of the Debt Securities allowed in any judicial proceedings relative to the Company, the Company’s creditors or the Company’s property, and, unless prohibited by law or applicable regulations, may vote
on behalf of the Holders of Debt Securities in any election of a trustee in bankruptcy or other Person performing similar functions, and any Custodian in any such judicial proceeding is hereby authorized by each Holder of a Debt Security to make
payments to the Trustee, and, in the event that the Trustee shall consent to the making of such payments directly to the Holders of Debt Securities, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements
and advances of the Trustee, its agents and counsel, and any other amounts due to Trustee under Section 7.07. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder of
a Debt Security any plan of reorganization, arrangement, adjustment or composition affecting the Debt Securities or the rights of any Holder of a Debt Security thereof, or to authorize the Trustee to vote in respect of the claim of any Holder of a
Debt Security in any such proceeding.


     Section 6.10 . Priorities. If the Trustee collects any money pursuant to this Article 6, it shall pay out the money in the following order:


         (i) FIRST:
    to the Trustee for amounts due to it under Section 7.07;

         (ii) SECOND:
    to Holders of Debt Securities for amounts due and unpaid
      on the Debt Securities for principal, premium, if any, and interest, ratably,
      without preference or priority of any kind, according to the amounts due and 




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    payable on the Debt Securities for principal, premium, if any, and interest, respectively; and

  
          (iii) THIRD: to the Company.




     The Trustee may fix a record date and payment date for any payment to Holders of Debt Securities pursuant to this Section 6.10.


     Section 6.11 . Undertaking for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted
by it as a Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’
fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.11 shall not apply to a suit by the Trustee, a suit by a Holder of a Debt
Security pursuant to Section 6.07, or a suit by Holders of more than 10% in principal amount of the Debt Securities then outstanding.


     Section 6.12 . Waiver of Stay, Extension and Usury Laws. The Company (to the extent that it may lawfully do so) shall not at any time insist upon, plead, or in any manner
whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture; and the Company (to the extent that
it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and shall not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but shall suffer and permit the
execution of every such power as though no such law had been enacted.


ARTICLE 7

TRUSTEE


      Section 7.01. Duties of Trustee.




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


     (b) Except during the continuance of an Event of Default of which a Responsible Officer of the Trustee is aware:


        (i) the duties of the Trustee shall be determined solely by the express provisions of this Indenture and the Trustee need perform only those duties that are specifically set forth in this Indenture and no others;
    and




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




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


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

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

        (iii) 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 a direction received by it pursuant to Section 6.05.




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


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


     (f) The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Company.


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


     (h) Every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section 7.01 and to the provisions of
the TIA.


     (i) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders
shall have offered to the Trustee security 


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or indemnity satisfactory to the Trustee against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction; and


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


     Section 7.02 . Rights of Trustee. Subject to Trust Indenture Act Sections 315(a) through (d):


     (a) The Trustee may conclusively rely and shall be protected in acting or refraining from acting upon any document reasonably believed by it to be genuine and to have been signed or presented by the proper Person.
The Trustee need not investigate any fact or matter stated in any such document.


     (b) Before the Trustee acts or refrains from taking any act, the Trustee may require an Officers’ Certificate or an Opinion of Counsel or both. The Trustee shall not be liable for any action taken or omitted
to be taken by it in good faith in reliance on such Officers’ Certificate or such Opinion of Counsel.


     (c) The Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent; provided, however, that any such agent is appointed by the Trustee with due care.


     (d) The Trustee shall not be liable for any action taken or omitted to be taken by it in good faith which it reasonably believes to be authorized or within its rights or powers conferred upon it by this Indenture;
provided, however, that the Trustee’s conduct does not constitute negligence, willful misconduct or bad faith.


     (e) The Trustee may consult with counsel of its selection, and the advice or opinion of counsel with respect to legal matters shall be full and complete authorization and protection from liability in respect to
any action taken, omitted or suffered by the Trustee hereunder in good faith and in accordance with the advice or opinion of such counsel.


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


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


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


     Section 7.03 . Individual Rights of Trustee. The Trustee in its individual or any other capacity may become the owner or pledgee of Debt Securities and may otherwise deal with the
Company or any Affiliate of the Company with the same rights as it would have if the Trustee were not the Trustee hereunder. However, in the event the Trustee acquires any conflicting interest in accordance with the TIA it must eliminate such
conflicting interest within 90 days, apply to the SEC for permission to continue as Trustee or resign. Any Paying Agent, Registrar or co-registrar may do the same with like rights. The Trustee shall at all times remain subject to Section 7.10 and
Section 7.11.


     Section 7.04 . Trustee’s Disclaimer. The Trustee shall not be responsible for and makes no representation as to the validity or adequacy of this Indenture or the Debt
Securities, it shall not be accountable for the Company’s use of the proceeds of the Debt Securities and it shall not be responsible for any statement contained herein or any statement contained in the Debt Securities or any other document in
connection with the sale of the Debt Securities or pursuant to this Indenture other than the Trustee’s certificates of authentication.


     Section 7.05 . Notice of Default. If a Default occurs and is continuing with respect to a series of Debt Securities and if such Default is known to a Responsible Officer of the
Trustee, the Trustee shall mail to each Holder of a Debt Security of such series a notice of such Default within 90 days (or such shorter period as may be required by applicable law) after such Default occurs. Except in the case of a Default in
payment of principal of, premium, if any, or interest on any Debt Security, the Trustee may withhold the notice if and so long as a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of the
Holders of the Debt Securities.


     Section 7.06 . Reports by Trustee to Holders of Debt Securities. Within 60 days after each May 15, beginning with May 15 following the date of this Indenture, the Trustee shall
mail to Holders of the Debt Securities a brief report dated as of such reporting date that complies with TIA § 313(a) to the extent such a report is required by TIA § 313(a). The Trustee also shall comply with TIA § 313(b).


     A copy of each report at the time of its mailing to the Holders of Debt Securities shall be mailed to the Company and filed with the SEC and each stock exchange on which the Debt Securities may be listed. The
Company shall promptly notify the Trustee upon the Debt Securities being listed on any stock exchange and any delisting thereof.


     Section 7.07 . Compensation and Indemnity. The Company shall pay to the Trustee from time to time such compensation as the Company and the Trustee shall agree to in writing from
time to time for the Trustee’s acceptance of this Indenture and its 


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services hereunder. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee for all reasonable out-of-pocket expenses incurred or made by it in
the course of its services hereunder. Such expenses shall include the reasonable compensation and expenses, disbursements and advances of the Trustee’s agents, counsel, accountants and experts.


     The Company shall indemnify the Trustee and any predecessor Trustee against any and all loss, liability, claim, damage or expense, including taxes (other than taxes based upon, measured by or determined by the
income of the Trustee), incurred by it in connection with the administration of this trust and the performance of its duties under this Indenture, except any such loss, liability or expense determined to have been caused by negligence, or willful
misconduct of the Trustee.


     The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Company shall not relieve the Company of its obligations hereunder except to the
extent that the Company may be materially prejudiced by such failure. The Company shall defend the claim and the Trustee shall cooperate in the defense of such claim. The Trustee may have separate counsel and the Company shall pay the reasonable
fees and expenses of such counsel. The Company need not reimburse any expense or indemnify against any loss, liability or expense incurred by the Trustee through the Trustee’s own negligence, willful misconduct or bad faith. The Company need
not pay for any settlement made without its consent, which consent shall not be unreasonably withheld.


     The Company’s payment obligations under this Section 7.07 shall survive the satisfaction and discharge of this Indenture.


     To secure the Company’s payment obligations under this Section 7.07, the Trustee shall have a Lien prior to the Debt Securities on all money or property held or collected by the Trustee, except such money or
property that is held by it in trust for the benefit of Holders of Debt Securities to pay principal and interest on particular Debt Securities.


     If the Trustee shall incur expenses after the occurrence of a Default specified in Section 6.01(iv) or Section 6.01(v), such expenses (including the reasonable fees and expenses of its agents and counsel) are
intended to constitute expenses of administration under Bankruptcy Law.


      The provisions of this Section shall survive the termination of this Indenture.


     Section 7.08 . Replacement of Trustee. A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s
acceptance of appointment as provided in this Section 7.08.


     The Trustee may resign at any time and be discharged from the trust hereby created by so notifying the Company in writing. The Holders of Debt Securities of not less than a majority in principal amount of the Debt
Securities of any series then 


40






















outstanding may remove the Trustee by so notifying the Trustee and the Company in writing. The Company shall remove the Trustee if:

	 	 	
(i)	 	
the Trustee fails to comply with Section 7.10;	
	 	 	 	 	 
	 	 	
(ii)	 	
the Trustee is adjudged bankrupt or insolvent;	
	 	 	 	 	 
	 	 	
(iii)	 	
a Custodian or other public officer takes charge of the Trustee or	its
property; or
	 	 	 	 	 
	 	 	(iv)	 	the Trustee otherwise becomes incapable
    of acting.


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


     If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of Debt Securities of at least 10% in principal amount
of the then outstanding Debt Securities of any series may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee.


     If the Trustee after written request by any Holder of a Debt Security who has been a Holder of a Debt Security for at least six months fails to comply with Section 7.10, such Holder of a Debt Security may petition
any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.


     Any successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon, the resignation or removal of the retiring Trustee shall become effective, and the
successor Trustee shall have all of the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders of Debt Securities. The retiring Trustee shall promptly transfer all
property held by it as Trustee to the successor Trustee, subject to the Lien provided for in Section 7.07. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 shall continue for
the benefit of the retiring Trustee.


     Section 7.09 . Successor Trustee by Merger, Etc. If the Trustee consolidates with, merges or converts into, or transfers all or substantially all of its corporate trust business or
assets to, another corporation or banking association, the resulting, surviving or transferee entity without any further act shall constitute the successor Trustee; provided, however, that such entity shall be otherwise qualified and eligible under
this Article 7.


     In case at the time such successor or successors by merger, conversion or consolidation to the Trustee shall succeed to the trusts created by this Indenture any of 


41






















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


     Section 7.10 . Eligibility; Disqualification. This Indenture at all times shall have a Trustee which satisfies the requirements of TIA § 310(a). Trustee shall be a corporation
organized and doing business under the laws of the United States of America or of any State thereof authorized under such laws to exercise corporate trustee power, shall be subject to supervision or examination by federal or state authority and
shall have a combined capital and surplus of at least $50 million as set forth in its most recently published annual report of condition. The Trustee shall be subject to TIA § 310(b).


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


ARTICLE 8

DISCHARGE OF INDENTURE; DEFEASANCE


      Section 8.01. Discharge of Liability on Debt Securities; Defeasance.


     (a) When (i) all Debt Securities of any series previously authenticated and delivered (other than Debt Securities replaced pursuant to Section 2.07) have been delivered to the Trustee for cancellation and the
Company has paid all sums payable by it with respect to that series of Debt Securities under the Indenture, or (ii) (A) the Debt Securities of any series mature within one year or all of them are to be called for redemption within one year under
arrangements satisfactory to the Trustee for giving the notice of redemption, (B) the Company irrevocably deposits in trust with the Trustee, as trust funds solely for the benefit of the Holders of the Debt Securities of such series for that
purpose, money or U.S. Government Obligations or a combination thereof sufficient (unless such funds consist solely of money, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification
thereof delivered to the Trustee), without consideration of any reinvestment, to pay the principal of and interest on the Debt Securities of such series (other than Debt Securities of such series replaced pursuant to Section 2.07) to maturity or
redemption, as the case may be, and to pay all other sums payable by it under this Indenture, and (C) the Company delivers to the Trustee an Officers’ Certificate and an Opinion of Counsel, in each case stating that all conditions precedent
provided for in this Article 8 relating to the satisfaction and discharge of the Indenture with respect to the Debt Securities of such series have been complied with, then this Indenture shall, subject to Section 8.01(c), cease to be of further



42






















effect with respect to the Debt Securities of such series. The Trustee shall acknowledge satisfaction and discharge of this Indenture on demand of the Company accompanied by an Officers’ Certificate and an Opinion of Counsel and at the
cost and expense of the Company.


     (b) Subject to Section 8.01(c) and Section 8.02, the Company at any time may terminate (i) all of the Company’ obligations under the Debt Securities of any series and this Indenture (“legal
defeasance”); or (ii) its obligations under Section 4.02, Section 4.03, Section 4.04, Section 4.05, Section 4.06, Section 4.07, Section 6.01(vi) and Section 6.01(vii) (“covenant defeasance”). The Company may exercise its legal
defeasance option notwithstanding its prior exercise of its covenant defeasance option.


     If the Company exercises its legal defeasance option, payment of the Debt Securities of any series may not be accelerated because of an Event of Default. If the Company exercises its covenant defeasance option,
payment of the Debt Securities of such series may not be accelerated because of an Event of Default specified in Section 6.01(iii) .


     Upon satisfaction of the conditions set forth herein and at the request of the Company, the Trustee shall acknowledge in writing the discharge of those obligations of the Company terminated thereby.


     (c) Notwithstanding clause (a) and clause (b) above, the Company’ obligations contained in Section 2.02, Section 2.03, Section 2.04, Section 2.05, Section 2.06, Section 2.07, Section 7.07, Section 7.08 and
this Article 8 shall survive until the Debt Securities of such series have been paid in full. Thereafter, the Company’s obligations contained in Section 7.07, Section 8.04 and Section 8.05 shall survive.


     Section 8.02 . Conditions to Defeasance. The Company may exercise its legal defeasance option or its covenant defeasance option only if:


        (i) with reference to this Section 8.02, the Company has irrevocably deposited in trust with the Trustee as trust funds solely for the benefit of the Holders of the Debt Securities of such series, for payment of
    the principal of and interest on the Debt Securities of such series, money or U. S. Government Obligations or a combination thereof sufficient (unless such funds consist solely of money, in the opinion of a nationally recognized firm of independent
    public accountants expressed in a written certification thereof delivered to the Trustee) without consideration of any reinvestment and after payment of all federal, state and local taxes or other charges and assessments in respect thereof payable
    by the Trustee, to pay and discharge the principal of and accrued interest on the outstanding Debt Securities of such series to maturity or earlier redemption (irrevocably provided for under arrangements satisfactory to the Trustee), as the case may
    be;




43






















        (ii) such deposit will not result in a breach or violation of, or constitute a default under, this Indenture or any other material agreement or instrument to which the Company is a party or by which it is
    bound;

        (iii) no Default with respect to the Debt Securities of such series shall have occurred and be continuing on the date of such deposit;

        (iv) the Company shall have delivered to the Trustee an Opinion of Counsel that (1) the Holders of the Debt Securities of such series will not recognize income, gain or loss for Federal income tax purposes as a
    result of the Company’s exercise of its option under this Section and will be subject to Federal income tax on the same amount and in the same manner and at the same times as would have been the case if such deposit and defeasance had not
    occurred and (2) the Holders of the Debt Securities of such series have a valid security interest in the trust funds; and

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




     In the case of legal defeasance under this Section 8.02 the Opinion of Counsel referred to in clause (iv)(1) above may be replaced by a ruling directed to the Trustee received from the Internal Revenue Service to
the same effect. Before or after a deposit, the Company may make arrangements satisfactory to the Trustee for the redemption of the Debt Securities of such series at a future date in accordance with Article 3.


     Section 8.03 . Application of Trust Money. The Trustee shall hold in trust money or U.S. Government Obligations deposited with it pursuant to this Article 8. The Trustee shall
apply the deposited money and the money from U.S. Government Obligations through the Paying Agent and in accordance with this Indenture to the payment of principal of, and premium, if any, and interest on, the Debt Securities of such
series.


     Section 8.04 . Repayment to the Company. The Trustee and the Paying Agent shall promptly turn over to the Company upon request any excess money or securities held by them at any
time.


     Subject to any applicable abandoned property law, the Trustee and the Paying Agent shall pay to the Company upon request any money held by them for the payment of principal or interest that remains unclaimed for
two years, and, thereafter, Holders of Debt Securities of such series entitled to the money shall look to the Company for payment as general creditors.


     Section 8.05 . Indemnity for Government Obligations. The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against deposited
U.S. Government Obligations or the principal and interest received on such U.S. Government Obligations.


44






















     Section 8.06. Reinstatement. If the Trustee or Paying Agent is unable to apply any money or U.S. Government Obligations in accordance with this Article 8 by reason of any legal
proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Company’s obligations under this Indenture and the Debt Securities of such series
shall be revived and reinstated as though no deposit had occurred pursuant to this Article 8 until such time as the Trustee or Paying Agent is permitted to apply all such money or U.S. Government Obligations in accordance with this Article 8;
provided, however, that, if the Company has made any payment of interest on or principal of any of the Debt Securities because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Debt
Securities to receive such payment from the money or U.S. Government Obligations held by the Trustee or Paying Agent.


ARTICLE 9

AMENDMENT, SUPPLEMENT AND WAIVER


     Section 9.01. Without Consent of Holders of Debt Securities. The Company and the Trustee may amend or supplement this Indenture or the Debt Securities of any series without notice
to or the consent of any Holder of a Debt Security of such series:


        (i) to cure any ambiguity, defect or inconsistency in this Indenture; provided that such amendments or supplements shall not materially and adversely affect the interests of the Holders of the Debt Securities of
    such series;

        (ii) to provide for the assumption of the Company’s obligations to the Holders of the Debt Securities of such series in connection with a consolidation or merger of the Company or the sale, conveyance,
    transfer, lease or other disposal of all or substantially all of the property and assets of the Company pursuant to Article 5;

        (iii) to comply with any requirements of the SEC in connection with the qualification of this Indenture under the TIA;

        (iv) to evidence and provide for the acceptance of appointment under this Indenture by a successor Trustee;

        (v) to make any change that does not materially and adversely affect the rights of any Holder of the Debt Securities of such series, provided that any change to conform the terms
    of the Debt Securities to the description contained in this Indenture and any change to conform the terms of the Debt Securities to the “Description of Debt Securities” contained in the Prospectus dated May 16, 2006 (as such description
    may be supplemented or modified by any Prospectus Supplement thereto relating to particular Debt Securities) shall not be deemed to be adverse to any Holder of such Debt Securities.




45






















     Upon the request of the Company accompanied by a resolution of the Board of Directors authorizing the execution of any such amended or supplemental Indenture, and upon receipt by the Trustee of the documents
described in Section 9.06, the Trustee shall join with the Company in the execution of any amended or supplemental Indenture authorized or permitted by the terms of this Indenture and to make any further appropriate agreements and stipulations which
may be contained therein, but the Trustee shall not be obligated to enter into such amended or supplemental Indenture which adversely affects its own rights, duties or immunities under this Indenture or otherwise.


     After an amendment, supplement or waiver under this Section 9.01 becomes effective, the Company shall mail to the Holders of Debt Securities of any series affected thereby a notice briefly describing any such
amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, shall not in any way impair or affect the validity of any such amended or supplemental Indenture or waiver. Subject to Section 6.04 and Section
6.07, the Holders of a majority in aggregate principal amount of the Debt Securities of such series then outstanding may waive compliance by the Company in any particular instance with any provision of this Indenture or the Debt Securities of such
series.


     Section 9.02 . With Consent of Holders of Debt Securities. The Company and the Trustee may amend or supplement this Indenture, the Debt Securities of any series or any amended or
supplemental Indenture with the written consent of the Holders of Debt Securities of at least a majority in aggregate principal amount of the Debt Securities of such series then outstanding, and any existing Default and its consequences or
compliance with any provision of this Indenture or the Debt Securities of such series may be waived with the consent of the Holders of a majority in principal amount of the Debt Securities of such series then outstanding. However, without the
consent of each Holder of a Debt Security of such series affected, any amendment, supplement or waiver may not:


        (i) extend the Stated Maturity of the principal of, or any installment of interest on, such Holder’s Debt Securities, or reduce the principal thereof or the rate of interest thereon, or any premium payable
    with respect thereto, or change any place or currency of payment where any Debt Security of such series or any premium or the interest thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the
    due date therefor;

        (ii) reduce the percentage in principal amount of outstanding Debt Securities of such series the consent of whose Holders is required for any such supplemental indenture, for any waiver of compliance with certain
    provisions of this Indenture or certain Defaults hereunder and their consequences provided for in this Indenture;

        (iii) waive a Default in the payment of principal of or interest on any Debt Security of such Holder; or




46






















        (iv) modify any of the provisions of this Section, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the
    Holder of each outstanding Debt Security of such series thereunder affected thereby.




     Upon the request of the Company accompanied by a resolution of the Board of Directors authorizing the execution of any such amended or supplemental Indenture, and upon the filing with the Trustee of evidence
satisfactory with the Trustee of the consent of the Holders of Debt Securities of such series as aforesaid and upon receipt by the Trustee of the documents described in Section 9.06, the Trustee shall join with the Company in the execution of such
amended or supplemental Indenture unless such amended or 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 amended or supplemental Indenture.


     It shall not be necessary for the consent of the Holders of Debt Securities of such series under this Section 9.02 to approve the particular form of any proposed amendment, supplement or waiver, but it shall be
sufficient if such consent approves the substance thereof.


     After an amendment, supplement or waiver under this Section 9.02 becomes effective, the Company shall mail to the Holders of Debt Securities of such series affected thereby a notice briefly describing any such
amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, shall not in any way impair or affect the validity of any such amended or supplemental Indenture or waiver.


     The Company may, but shall not be obligated to, fix a record date for the purpose of determining the Persons entitled to consent to any indenture supplemental hereto. If a record date is fixed, the Holders on such
record date, or their duly designated proxies, and only such Persons, shall be entitled to consent to such supplemental indenture, whether or not such Holders remain Holders after such record date; provided, that unless such consent shall have
become effective by virtue of the requisite percentage having been obtained prior to the date which is 90 days after such record date, any such consent previously given shall automatically and without further action by an Holder be cancelled and of
no further effect.


     Section 9.03 . Compliance with Trust Indenture Act. Every amendment or supplement to this Indenture or the Debt Securities of any series shall be set forth in an amended or
supplemental Indenture that complies with the TIA as then in effect.


     Section 9.04 . Revocation and Effect of Consents and Waivers. Until an amendment, supplement or waiver becomes effective, a consent to such amendment, supplement or waiver by a
Holder of a Debt Security of any series is a continuing and binding consent by the Holder of a Debt Security of such series and every subsequent Holder of a Debt Security of such series or portion of a Debt Security of such series that evidences the
same debt as the consenting Holder’s Debt Security, even if a notation of 


47






















the consent or waiver is not made on any Debt Security. However, any such Holder of a Debt Security of such series or subsequent Holder of a Debt Security of such series may revoke the consent as to its Debt Security if the Trustee receives
written notice of revocation before the date the waiver, supplement or amendment becomes effective. An amendment, supplement or waiver shall become effective in accordance with its terms and thereafter shall bind every Holder of a Debt Security of
such series.


     The Company may, but shall not be obligated to, fix a record date for the purpose of determining the Holders of Debt Securities of any series entitled to give their consent or take any other action described above
or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding the immediately preceding paragraph, such Persons which were Holders of Debt Securities of such series at such record date (or their
duly designated proxies), and only such Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any such action, whether or not such Persons continue to be Holders of Debt Securities of such series after
such record date. No such consent shall be valid or effective for more than 120 days after such record date.


     Section 9.05 . Notation On or Exchange of Debt Securities. If an amendment or supplement changes the terms of a Debt Security of any series, the Trustee may require the Holder of
such Debt Security to deliver such Debt Security to the Trustee. The Trustee may place an appropriate notation on the Debt Security regarding the changed terms and return it to the Holder of such Debt Security. Alternatively, if the Company or the
Trustee so determines, the Company in exchange for such Debt Security shall issue and the Trustee shall authenticate a new Debt Security that reflects such changed terms. Failure to make the appropriate notation or to issue a new Debt Security shall
not affect the validity of such amendment or supplement.


     Section 9.06 . Trustee to Sign Amendments, Etc. The Trustee shall sign any amended or supplemental Indenture authorized pursuant to this Article 9 if the amendment or supplement
does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may but need not sign it. In signing such amendment or supplement the Trustee shall be provided with, and (subject to Section 7.01) shall
be fully protected in relying upon, an Officer’s Certificate and an Opinion of Counsel stating that such amendment or supplement is authorized or permitted pursuant to this Indenture. The Company shall not sign any amendment or supplemental
Indenture until the Board of Directors approves any such amendment or supplemental Indenture.


ARTICLE 10

MISCELLANEOUS


     Section 10.01. Trust Indenture Act Controls. If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by TIA § 318(c), such imposed duties
shall control.


48






















     Section 10.02. Notices. Any notice or communication by the Company or the Trustee to the other is duly given if in writing and delivered in person or mailed by first class mail
(registered or certified, return receipt requested), telecopier or overnight air courier guaranteeing next day delivery, to the other’s address:

	 	
If to the Company:	
	 	 	
	 	
                    CVS Corporation	
	 	
                    One CVS Drive	
	 	
                    Woonsocket, Rhode Island 02895	
	 	
                    Telecopier No.: (401) 765-1500	
	 	
                    Attention: General Counsel	
	 	 	
	 	
If to the Trustee:	
	 	 	
	 	
                    The Bank of New York Trust Company, N.A.	
	 	
                    222 Berkeley Street, 2nd Floor	
	 	
                    Boston, Massachusetts 02116	
	 	
                    Telecopier No: (617) 351-2401	
	 	
                    Attention: Corporate Trust Administration	



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


     All notices and communications (other than those sent to Holders of Debt Securities) shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being
deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if telecopied; and the next Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery.


     Any notice or communication to a Holder of a Debt Security shall be mailed by first class mail, certified or registered, return receipt requested, or by overnight air courier guaranteeing next day delivery to its
address shown on the Securities Register. Any notice or communication shall also be so mailed to any Person described in TIA § 313(c), to the extent required by the TIA. Failure to mail a notice or communication to a Holder of a Debt Security
or any defect in such notice shall not affect its sufficiency with respect to other Holders of Debt Securities.


     If a notice or communication is mailed in the manner set forth above within the time prescribed, such notice or communication shall be deemed to be duly given whether or not the addressee receives it.


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


     Section 10.03 . Communication by Holders of Debt Securities with Other Holders of Debt Securities. Holders of Debt Securities pursuant to TIA § 312(b) may 


49




















communicate with other Holders of Debt Securities with respect to their rights under this Indenture or the Debt Securities. The Company, the Trustee, the Registrar, the Paying Agent and any other Person shall have the protection of TIA §
312(c).


     Section 10.04 . Certificate and Opinion as to Conditions Precedent. Upon any request or application by the Company to the Trustee to take any action under this Indenture, the
Company shall furnish to the Trustee any certificates or opinions required by the TIA, and:


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

        (ii) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee stating that, in the opinion of such counsel, all conditions and covenants have been satisfied.




     Section 10.05 . Statements Required in Certificate or Opinion. Each certificate or opinion with respect to compliance with a condition or covenant contained in this Indenture shall
include:


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

        (ii) a 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;

        (iii) a statement that, in the opinion of such Person, he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether such condition or
    covenant has been satisfied; and

        (iv) a statement as to whether, in the opinion of such Person, such condition or covenant has been satisfied.




     Section 10.06 . Rules by Trustee and Agents. The Trustee may make reasonable rules for action by or at a meeting of Holders of Debt Securities. The Registrar and Paying Agent may
make reasonable rules and set reasonable requirements for their functions.


     Section 10.07 . No Personal Liability of Directors, Officers, Employees, Incorporators And Stockholders. No director, officer, employee, incorporator or stockholder of the Company,
as such, shall have any liability for any obligations of the Company under the Debt Securities or this Indenture or for any claim based on, in respect of, or by reason of, such obligations. Each Holder of a Debt Security by accepting a Debt



50




















Security waives and releases all such liability. Such waiver and release form a part of the consideration for issuance of the Debt Securities.


     Section 10.08 . Governing Law. THIS INDENTURE AND THE DEBT SECURITIES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT GIVING
EFFECT TO APPLICABLE PRINCIPLES OF CONFLICT OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAW OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.


     Section 10.09 . No Adverse Interpretation of Other Agreements. This Indenture may not be used to interpret another indenture, loan or debt agreement of the Company or its
Subsidiaries. Any such indenture, loan or debt agreement may not be used to interpret this Indenture.


     Section 10.10 . Successors. All agreements of the Company contained in this Indenture and the Debt Securities shall bind the Company and its successors. All agreements of the
Trustee in this Indenture shall bind the Trustee and its successors.


     Section 10.11 . Severability. In case any provision of this Indenture or the Debt Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability
of the remaining provisions shall not in any way be affected or impaired thereby.


     Section 10.12 . Counterpart Originals. The parties may sign any number of copies of this Indenture. Each such signed copy shall be deemed to be an original, and all of such signed
copies together shall represent one and the same agreement.


     Section 10.13 . Table of Contents, Headings, Etc.. The Table of Contents, Cross-Reference Table and Headings of the Articles and Sections of this Indenture have been inserted for
convenience only, and shall not, for any reason, be deemed to be part of this Indenture and shall in no way modify or restrict any of the terms or provisions hereof.


     Section 10.14 . Judgment Currency. The Company agrees, to the fullest extent that it may effectively do so under applicable law, that (a) if for the purpose of obtaining judgment
in any court it is necessary to convert the sum due in respect of the Principal of or interest on the Debt Securities of any series (the “Required Currency”) into a currency in which a judgment will be
rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required Currency
with the Judgment Currency on the day on which final unappealable judgment is entered, unless such day is not a Business Day in The City of New York, then, to the extent permitted by applicable law, the rate of exchange used shall be the rate at
which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment Currency on the Business Day in The City of New York preceding the day on which final unappealable judgment
is entered and (b) its obligations under this Indenture to make payments in the Required Currency (i) shall not 


51




















be discharged or satisfied by any tender, or any recovery pursuant to any judgment (whether or not entered in accordance with subsection (a)), in any currency other than the Required Currency, except to the extent that such tender or recovery
shall result in the actual receipt, by the payee, of the full amount of the Required Currency expressed to be payable in respect of such payments, (ii) shall be enforceable as an alternative or additional cause of action for the purpose of
recovering in the Required Currency the amount, if any, by which such actual receipt shall fall short of the full amount of the Required Currency so expressed to be payable and (iii) shall not be affected by judgment being obtained for any other sum
due under this Indenture.


      Section 10.15 . Waiver of Jury Trial.


     EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS
INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED HEREBY.


      Section 10.16 . Force Majeure.


     In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control,
including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or
computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the
circumstances.


52




















SIGNATURES


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


  	CVS CORPORATION, as Company
	 
	 	 	 
	By:	/s/ David B. Rickard 
	 	

	 	Name:	David B. Rickard
	 	Title:	Executive Vice President, Chief Financial Officer and

        Chief Administrative Officer 






	
[CORPORATE SEAL]		 
	 	 	 
	
Attest:		 
	 	 	 
	 	 	 
	By:	/s/ Carol A. DeNale 	 
	 	
	 




	 	
    THE BANK OF NEW YORK TRUST	
	 	 	
COMPANY, N.A., as Trustee	
	 	 	 	
	 	 	 	
	 	By:	/s/ Peter M. Murphy 
	 	 	

	 	 	Name: Peter M. Murphy
	 	 	Title: Vice President 



















EXHIBIT A


[FORM OF FACE OF DEBT SECURITY]


[Global Notes Legend]


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


     UNLESS AND UNTIL THIS GLOBAL NOTE IS EXCHANGED IN WHOLE OR IN PART FOR A GLOBAL NOTE IN DEFINITIVE REGISTERED FORM, THIS GLOBAL NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY [DTC] TO A NOMINEE OF [DTC] OR BY A
NOMINEE OF [DTC] TO [DTC] OR ANOTHER NOMINEE OF [DTC] OR BY [DTC] OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.

 


A-1




















CVS CORPORATION

	
No. __		
$ ___________	
	
CUSIP No. _______		 	
	ISIN No. _______	 





___% Debt Securities due _____


     CVS CORPORATION, a Delaware corporation (such corporation, and its successors and assigns under the Indenture hereinafter referred to, being herein called the “Company”),
for value received promises to pay to ___________
, or registered assigns, the principal sum of
________
Dollars on
___________
.. If such maturity date is not a Business Day, then payment of principal will
be made on the next succeeding Business Day.


      Interest Payment Dates:
___________ and ___________.


     Record Dates: ___________
and
___________
immediately preceding each interest payment date.


     Additional provisions of this Debt Security are set forth on the reverse side of this Debt Security.

 


[Remainder of page intentionally left blank]

 


A-2




















     IN WITNESS WHEREOF, the Company has caused this Debt Security to be duly executed.

	 	
    CVS CORPORATION	
	 	 	 	
	 	 	 	
	 	By:	 
	 	 	

	 	 	Name: 
	 	 	Title: 
	 	 	 	
	 	 	 	
	 	By:	 
	 	 	

	 	 	Name: 
	 	 	Title: 





Dated:________


TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

THE BANK OF NEW YORK TRUST COMPANY, N.A.,


  
    as Trustee, certifies that this is one of the
    Debt Securities referred to

    in the Indenture.



	
By _____________________	
	
      Authorized Signatory	
	 
	 
	 
	 





A-3




















[FORM OF REVERSE SIDE OF DEBT SECURITY]


___________% Debt Securities due
___________




     This Debt Security is one of a duly authorized series of Debt Securities of CVS Corporation, a Delaware corporation (such corporation, and its successors and assigns under the Indenture hereinafter referred to,
being herein called the “Company”), designated as its [•] (hereinafter referred to as the “Debt Securities”).


(a) Interest


     The Company promises to pay interest on the principal amount of the Debt Securities at the rate per annum shown above.


     The Company will pay
interest on the Debt Securities semi-annually on ___________
and
___________
of each year, commencing
___________. Interest on the Debt Securities will accrue from the
most recent date to which interest has been paid, or, if no interest has been
paid, from
___________. Interest will be computed on the basis of a 360-day year of twelve
30-day months. The Company shall pay interest on overdue principal at the rate
borne by the Debt Securities. If any interest payment date is not a Business
Day, then payment of interest will be made on the next succeeding Business Day,
and no interest will accrue on the amount so payable for the period from such
interest payment date to the date payment is made.


      (b) Method of Payment


     The Company will pay
interest on the Debt Securities (except defaulted interest) to the Persons who
are registered Holders of Debt Securities at the close of business on the ___________
or

___________
next preceding the interest payment date even if Debt Securities are canceled
after the record date and on or before the interest payment date. Holders must
surrender Debt Securities to a Paying Agent to collect principal payments. The
Company will pay principal, premium, if any, and interest in money of the United
States that at the time of payment is legal tender for payment of public and
private debts by wire transfer of immediately available funds to the accounts
specified by the Holders, or, if no such account is specified, the Company may
pay principal and interest by check payable in such money. It may mail an interest
check to a Holder’s registered address.


      (c) Paying Agent and Registrar


A-4




















     Initially, The Bank of New York Trust Company, N.A., a national banking association (the “Trustee”), will act as Paying Agent and Registrar. The Company may appoint and change any Paying Agent, Registrar or co-registrar without notice. The Company or any of its domestically incorporated Wholly Owned Subsidiaries may act as Paying Agent, Registrar or co-registrar.


      (d) Indenture


     The Company issued the
Debt Securities under an Indenture dated as of __________
(the “Indenture”), between the Company and the Trustee. The terms of the Debt
Securities include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C. ss.ss. 77aaa-77bbbb) as in effect on the date of the Indenture (the
“TIA”). Terms defined in the Indenture and not defined herein have the meanings ascribed thereto in the Indenture. The Debt Securities are subject to all such terms, and Holders of Debt Securities are
referred to the Indenture and the TIA for a statement of those terms.


     The Debt Securities
are general obligations of the Company initially limited to $___________ aggregate principal amount (subject to Section 2.08 of the Indenture). The Company may at any time issue
additional Debt Securities under the Indenture in unlimited amounts having the same terms as and treated as a single class with the Debt Securities for all purposes under the Indenture and will vote together as one class with respect to the Debt
Securities. The Indenture imposes certain limitations on the incurrence of certain additional indebtedness by the Company and certain of its subsidiaries and the entry into certain sale and leaseback arrangements by the Company and certain of its
subsidiaries. The Indenture also restricts the ability of the Company to consolidate or merge with or into, or to transfer all or substantially all its assets to, another person.


      (e) Optional Redemption


     The Company, at its option, may at any time redeem all or any portion of the Debt Securities, at a redemption price, plus accrued and unpaid interest to the date of redemption, equal to the greater of (i) 100% of
their principal amount or (ii) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the date of redemption on a semiannual basis (assuming a 360-day year consisting of twelve 30-day
months) at the applicable Treasury Yield plus ___________ basis points. If any redemption date is not a Business Day, then payment of the redemption price and accrued and unpaid interest will be made on the next succeeding Business Day, and
no interest will accrue on the amounts so payable for the period from such redemption date to the date payment is made.


A-5




















     “Comparable Treasury Issue” means, with respect to the Debt Securities, the United States Treasury security selected by an Independent Investment Banker as having a
maturity comparable to the remaining term of the Debt Securities that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the
remaining term of the Debt Securities.


     “Comparable Treasury Price” means, with respect to any redemption date applicable to the Debt Securities, (i) the average of the applicable Reference Treasury Dealer
Quotations for such redemption date, after excluding the highest and lowest such applicable Reference Treasury Dealer Quotations, or (ii) if the Trustee obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such
Quotations.


     “Independent Investment Banker” means,
with respect to the Debt Securities, ___________
or, if such firm is unwilling or unable to select the applicable
Comparable Treasury Issue, an independent investment banking institution of
national standing appointed by the Trustee.


     “Reference Treasury Dealer” means,
with respect to the Debt Securities, (i) ___________
; provided,
however, that if the foregoing shall cease to be a primary United States Government securities dealer in New York City (a “Primary Treasury Dealer”), the Company shall
substitute therefor another Primary Treasury Dealer and (ii) any other Primary Treasury Dealer selected by the Company.


     “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date for the Debt Securities, the average, as determined
by the Trustee, of the bid and asked prices for the Comparable Treasury Issue for the Debt Securities (expressed in each case as a percentage of its principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m.,
New York City time, on the third business day preceding such redemption date.


     “Treasury Yield” means, with respect to any redemption date applicable to the Debt Securities, the rate per annum equal to the semiannual equivalent yield to maturity of
the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the applicable Comparable Treasury Price for such redemption date.


      (f) Notice of Redemption


     Notice of redemption shall be mailed at least 30 days but not more than 60 days before the redemption date to each Holder of Debt Securities to be redeemed at its registered address. Debt Securities in
denominations larger than $1,000 may 


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be redeemed in part but only in whole multiples of $1,000. If money sufficient to pay the redemption price of and accrued interest on all Debt Securities (or portions thereof) to be redeemed on the redemption date is deposited with the
Paying Agent on or before the redemption date and certain other conditions are satisfied, on and after such date interest ceases to accrue on such Debt Securities (or such portions thereof) called for redemption.


      (g) Denominations; Transfer; Exchange


     The Debt Securities are in registered form without coupons in denominations of $1,000 and integral multiples of $1,000. Holders of Debt Securities may transfer or exchange Debt Securities in accordance
with the Indenture. The Registrar may require a Holder of a Debt Security, among other things, to furnish appropriate endorsements or transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. The Registrar need
not register the transfer of or exchange any Debt Security selected for redemption (except, in the case of a Debt Security to be redeemed in part, the portion of the Debt Security not to be redeemed) or any Debt Securities for a period of 15 days
before a selection of Debt Securities to be redeemed or 15 days before an interest payment date.


      (h) Persons Deemed Owners


     The registered Holder of this Debt Security may be treated as the sole owner of such Debt Security for all purposes.


      (i) Unclaimed Money


     Subject to applicable abandoned property law, if money for the payment of principal or interest remains unclaimed for two years, the Trustee or Paying Agent shall pay the money back to the Company at its request
unless an abandoned property law designates another Person. After any such payment, Holders entitled to the money must look only to the Company and not to the Trustee or Paying Agent for payment.


      (j) Discharge and Defeasance


     Subject to certain conditions, the Company at any time may terminate some or all of its obligations under the Debt Securities and the Indenture if the Company deposits with the Trustee money or U.S. Government
Obligations for the payment of principal and interest on the Debt Securities to redemption or maturity, as the case may be.


      (k) Amendment; Waiver


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     Subject to certain exceptions set forth in the Indenture, (i) the Indenture or the Debt Securities may be amended with the written consent of the Holders of at least a majority in principal amount outstanding of
the Debt Securities; and (ii) any default or compliance with any provision may be waived with the written consent of the Holders of a majority in principal amount of the Debt Securities then outstanding. Subject to certain exceptions set forth in
the Indenture, without the consent of any Holder of a Debt Security, the Company and the Trustee may amend the Indenture or the Debt Securities to cure any ambiguity, omission, defect or inconsistency, or to comply with Article 5 of the Indenture or
that does not materially and adversely affect the rights of any Holder of a Debt Security or to comply with requirements of the SEC in connection with the qualification of the Indenture under the TIA.


      (l) Defaults and Remedies


     If an Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the Debt Securities may declare all the Debt Securities to be due and payable
immediately. Certain events of bankruptcy or insolvency are Events of Default which will result in the Debt Securities being due and payable immediately upon the occurrence of such Events of Default.


     Holders of Debt Securities may not enforce the Indenture or the Debt Securities except as provided in the Indenture. The Trustee may refuse to enforce the Indenture or the Debt Securities unless it receives
reasonable indemnity or security. Subject to certain limitations, Holders of a majority in principal amount of the Debt Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of Debt Securities
notice of any continuing Default (except a Default in payment of principal or interest) if it determines that withholding such notice is in the interest of the Holders of Debt Securities.


      (m) Trustee Dealings with the Company


     Subject to certain limitations imposed by the TIA, the Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of Debt Securities and may otherwise deal with and
collect obligations owed to it by the Company or its Affiliates and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not Trustee.


      (n) No Recourse Against Others


     A director, officer, employee or stockholder, as such, of the Company or the Trustee shall not have any liability for any obligations of the Company under the Debt Securities or the Indenture or for any claim
based on, in respect of or by 


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reason of such obligations. By accepting a Debt Security, each Holder of a Debt Security waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Debt Securities.


      (o) Authentication


     This Debt Security shall not be valid until an authorized signatory of the Trustee (or an authenticating agent) manually signs the certificate of authentication on the face of this Debt Security.


      (p) Abbreviations


     Customary abbreviations may be used in the name of a Holder of a Debt Security or an assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint tenants with rights of
survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act).


      (q) Governing Law


     This Security shall be governed by, and construed in accordance with, the laws of the State of New York but without giving effect to applicable principles of conflicts of law to the extent that the application of
the laws of another jurisdiction would be required thereby.


      (r) CUSIP Numbers


     Pursuant to the recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Debt Securities and has directed the Trustee to
use such CUSIP numbers in notices of redemption as a convenience to Holders of Debt Securities. No representation is made as to the accuracy of such numbers either as printed on the Debt Securities or as contained in any notice of redemption and
reliance may be placed only on the other identification numbers placed thereon.


-------------------------------------------


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     The Company will furnish to any Holder of a Debt Security upon written request and without charge to such Holder of a Debt Security a copy of the Indenture. Requests may be made to:

CVS Corporation 

670 White Plains Road, Suite 210 

Scarsdale, New York 10583 

Attention: Nancy R. Christal


     Terms defined in the Indenture and not otherwise defined herein are used herein as therein defined.


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ASSIGNMENT FORM


To assign this Debt Security, complete the form 

below:


     I or we assign and transfer this Debt Security to: 

[Print or type assignee’s name, address and zip code]

 [Insert assignee’s soc. sec. or tax I.D. No.]


  
    
      
        
          and irrevocably appoint ______________
            as agent to 

          transfer this Debt Security on the books of CVS. The

          agent may substitute
          another to act for him.

      

    

  



	

	 	 	 
	
Date: _________________________		 		
Your Signature: ___________________	
	 	 	 
	






Sign exactly as your name appears on the face of this Debt Security.

 


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CVS CORPORATION	
	 
	
as Issuer,	
	 
	 
	 
	
and	
	 
	 
	 
	
THE BANK OF NEW YORK TRUST COMPANY, N.A.	
	 	
	
as Trustee	
	 
	 
	 
	

	
	 
	
INDENTURE	
	 
	 Dated as of
                    August 15, 2006