Document:

<PAGE>

                                                                    EXHIBIT 4(a)

                                                                [CONFORMED COPY]
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                          GEORGIA-PACIFIC CORPORATION

                                       TO

               THE CHASE MANHATTAN BANK (NATIONAL ASSOCIATION),
                                                         Trustee

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

                                   Indenture

                           Dated as of March 1, 1983

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

================================================================================

<PAGE>

                     GEORGIA-PACIFIC CORPORATION
    Reconciliation and tie between Trust Indenture Act of 1939 and
                Indenture, dated as of March 1, 1983
<TABLE>
<CAPTION>

Trust Indenture Act Section                         Indenture Section
<S>                                                     <C>
(S)310(a)(1)..........................................  609
      (a)(2)..........................................  609
      (a)(3)..........................................  Not Applicable
      (a)(4)..........................................  Not Applicable
      (b).............................................  608,610
(S)311(a).............................................  613(a)
      (b).............................................  613(b)
      (b)(2)..........................................  703(a)(2), 703(b)
(S)312(a).............................................  701, 702(a)
      (b).............................................  702(b)
      (c).............................................  702(c)
(S)313(a).............................................  703(a)
      (b).............................................  703(b)
      (c).............................................  703(a), 703(b)
      (d).............................................  703(c)
(S)314(a).............................................  704
      (b).............................................  Not Applicable
      (c)(1)..........................................  102
      (c)(2)..........................................  102
      (c)(3)..........................................  Not Applicable
      (d).............................................  Not Applicable
      (e).............................................  102
(S)315(a).............................................  601(a)
      (b).............................................  602, 703(a)(6)
      (c).............................................  601(b)
      (d).............................................  601(c)
      (d)(1)..........................................  601(a)(1)
      (d)(2)..........................................  601(c)(2)
      (d)(3)..........................................  601(c)(3)
      (e).............................................  514
(S)316(a).............................................  101
      (a)(1)(A).......................................  502, 512
      (a)(1)(B).......................................  513
      (a)(2)..........................................  Not Applicable
      (b).............................................  508
(S)317(a)(1)..........................................  503
      (a)(2)..........................................  504
      (b).............................................  1003
(S)318(a).............................................  107
</TABLE>

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

<PAGE>

                                  TABLE OF CONTENTS

                                    _____________
<TABLE>
<CAPTION>
<S>                                                                                      <C>
                                                                                         Page
PARTIES................................................................................   1
RECITALS OF THE COMPANY................................................................   1

                                     ARTICLE ONE
               DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

SECTION 101.  Definitions:
              Act......................................................................   1
              Affiliate; control.......................................................   1
              Authenticating Agent.....................................................   1
              Board of Directors.......................................................   2
              Board Resolution.........................................................   2
              Business Day.............................................................   2
              Commission...............................................................   2
              Company..................................................................   2
              Company Request; Company Order...........................................   2
              Corporate Trust Office...................................................   2
              corporation..............................................................   2
              Defaulted Interest.......................................................   2
              Event of Default.........................................................   2
              Holder...................................................................   2
              Indenture................................................................   2
              interest.................................................................   2
              Interest Payment Date....................................................   3
              Investments..............................................................   3
              Investments in Unrestricted Subsidiaries.................................   3
              Maturity.................................................................   3
              Net Tangible Assets......................................................   3
              Officers' Certificate....................................................   3
              Opinion of Counsel.......................................................   3
              Original Issue Discount Security.........................................   3
              Outstanding..............................................................   3
              Paying Agent.............................................................   4
              Person...................................................................   4
              Place of Payment.........................................................   4
              Predecessor Security.....................................................   4
              Principal Property.......................................................   4
              Redemption Date..........................................................   4
</TABLE>
<PAGE>

                                       ii
<TABLE>
<CAPTION>
<S>                                                                                      <C>
                                                                                         Page
              Redemption Price.........................................................   5
              Regular Record Date......................................................   5
              Responsible Officer......................................................   5
              Restricted Subsidiary....................................................   5
              Securities...............................................................   5
              Security Register and Security Registrar.................................   5
              Special Record Date......................................................   5
              Stated Maturity..........................................................   5
              Subsidiary...............................................................   5
              Trustee..................................................................   5
              Trust Indenture Act......................................................   5
              Unrestricted Subsidiary..................................................   6
              Vice President...........................................................   6
SECTION 102.  Compliance Certificates and Opinions.....................................   6
SECTION 103.  Form of Documents Delivered to Trustee...................................   6
SECTION 104.  Acts of Holders..........................................................   7
SECTION 105.  Notices, Etc., to Trustee and Company....................................   7
SECTION 106.  Notice to Holders; Waivers...............................................   8
SECTION 107.  Conflict with Trustee Indenture Act......................................   8
SECTION 108.  Effect of Headings and Table of Contents.................................   8
SECTION 109.  Successors and Assigns...................................................   8
SECTION 110.  Separability Clause......................................................   8
SECTION 111.  Benefits of Indenture....................................................   8
SECTION 112.  Governing Law............................................................   8
SECTION 113.  Legal Holidays...........................................................   9

                                      ARTICLE TWO
                                     SECURITY FORMS

SECTION 201.  Forms Generally..........................................................  10
SECTION 202.  Form of Face of Security.................................................  10
SECTION 203.  Form of Reverse of Security..............................................  11
SECTION 204.  Form of Trustee's Certificate of Authentication..........................  13

                                     ARTICLE THREE
                                    THE SECURITIES

SECTION 301.  Amount Unlimited; Issuable in Series.....................................  14
SECTION 302.  Denominations............................................................  15
SECTION 303.  Execution; Authentication, Delivery and Dating...........................  15
SECTION 304.  Temporary Securities.....................................................  16
SECTION 305.  Registration, Registration of Transfer and Exchange......................  16
SECTION 306.  Mutilated, Destroyed, Lost and Stolen Securities.........................  17
SECTION 307.  Payment of Interest; Interest Rights Preserved...........................  17
SECTION 308.  Persons Deemed Owners....................................................  18
SECTION 309.  Cancellation.............................................................  18
SECTION 310.  Computation of Interest..................................................  19

                                     ARTICLE FOUR
                              SATISFACTION AND DISCHARGE

SECTION 401.  Satisfaction and Discharge of Indenture..................................  19
SECTION 402.  Application of Trust Money...............................................  20
</TABLE>

<PAGE>

                                    iii

                                ARTICLE FIVE
                                  REMEDIES

<TABLE>
<CAPTION>
<S>                                                                                      <C>
                                                                                         Page
SECTION 501.  Events of Default........................................................  20
SECTION 502.  Acceleration of Maturity; Rescission and Annulment.......................  21
SECTION 503.  Collection of Indebtedness and Suits for Enforcement
              by Trustee...............................................................  22
SECTION 504.  Trustee May File Proofs of Claim.........................................  22
SECTION 505.  Trustee May Enforce Claims without Possession of
                 Securities............................................................  23
SECTION 506.  Application of Money Collected...........................................  23
SECTION 507   Limitation on Suits......................................................  23
SECTION 508.  Unconditional Right of Holder to Receive Principal,
                 and Interest..........................................................  24
SECTION 509.  Restoration of Rights and Remedies.......................................  24
SECTION 510.  Rights and Remedies Cumulative...........................................  24
SECTION 511.  Delay or Omission Not Waiver.............................................  24
SECTION 512.  Control by Holders.......................................................  24
SECTION 513.  Waiver of Put Defaults...................................................  25
SECTION 514.  Undertaking for Costs....................................................  25
SECTION 515.  Waiver of Stay or Extension Laws.........................................  25

                                     ARTICLE SIX
                                     THE TRUSTEE

SECTION 601.  Certain Duties and Responsibilities......................................  25
SECTION 602.  Notice of Defaults.......................................................  26
SECTION 603.  Certain Rights of Trustee................................................  26
SECTION 604.  Not Responsible for Recitals or Issuance of Securities...................  27
SECTION 605.  May Hold Securities......................................................  27
SECTION 606.  Money Held in Trustee....................................................  27
SECTION 607.  Compensation and Reimbursement...........................................  27
SECTION 608.  Disqualification; Conflicting Interests..................................  28
                (a) Elimination of Conflicting Interest or Resignation.................  ??
                (b) Notice of Failure to Eliminate Conflicting Interest or Resign......  ??
                (c) "Conflicting Interest" Defined.....................................  ??
                (d) Definitions of Certain Terms Used In This Section..................  ??
                (e) Calculation of Percentages of Securities...........................  ??
SECTION 609.  Corporate Trustee Required; Eligibility..................................  31
SECTION 610.  Resignation and Removal; Appointment of Successor........................  32
SECTION 611.  Acceptance of Appointment by Successor...................................  33
SECTION 612.  Merger, Conversion, Consolidation or Succession to Business..............  34
SECTION 613.  Preferential Collection of Claims Against Company........................  34
                (a) Segregation and Apportionment of Certain Collections by
                    Trustee, Certain Exceptions........................................  ??
                (b) Certain Creditor Relationships Excluded from Segregation
                    and Apportionment..................................................  ??
                (c) Definitions of Certain Terms Used in This Section..................  ??
SECTION 614.  Appointment of Authenticating Agent......................................  36

                                    ARTICLE SEVEN
                   HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY

SECTION 701.  Company to Furnish Trustee Names and Addresses of Holders................  38
SECTION 702.  Preservation of Information; Communications to Holders...................  38
SECTION 703.  Reports by Trustee.......................................................  39
SECTION 704.  Reports by Company.......................................................  39

</TABLE>

<PAGE>

                                       iv

                                  ARTICLE EIGHT
                CONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASE
<TABLE>
<CAPTION>
<S>           <C>                                                                       <C>
                                                                                        Page
SECTION 801.  Company May Consolidate, etc., on Certain Terms..........................  40
SECTION 802.  Securities to be Secured in Certain Events...............................  41
SECTION 803.  Successor Corporation to be Substituted..................................  41
SECTION 804.  Opinion of Counsel to be Given Trustee...................................  41

                                     ARTICLE NINE
                               SUPPLEMENTAL INDENTURES

SECTION 901.  Supplemental Indentures without Consent of Holders.......................  41
SECTION 902.  Supplemental Indentures with Consent of Holders..........................  42
SECTION 903.  Execution of Supplemental Indentures.....................................  43
SECTION 904.  Effect of Supplemental Indentures........................................  43
SECTION 905.  Conformity with Trust Indenture Act......................................  43
SECTION 906.  Reference in Securities to Supplemental Indentures.......................  43

                                    ARTICLE TEN
                                     COVENANTS

SECTION 1001. Payment of Principal, Premium and Interest...............................  44
SECTION 1002. Maintenance of Office or Agency..........................................  44
SECTION 1003. Money for Securities Payments to Be Held in Trust........................  44
SECTION 1004. Limitation on Liens......................................................  46
SECTION 1005. Limitation on Sale and Lease-Back........................................  47
SECTION 1006. Exemption from Limitation on Liens and Sale and
              Lease-Back...............................................................  48
SECTION 1007. Statement by Officers as to Default......................................  48
SECTION 1008. Waiver of Certain Covenants..............................................  48
SECTION 1009. Applicability of Covenants...............................................  49

                                   ARTICLE ELEVEN
                              REDEMPTION OF SECURITIES

SECTION 1101. Applicability of Article.................................................  49
SECTION 1102. Election to Redeem; Notice to Trustee....................................  49
SECTION 1103. Selection by Trustee of Securities to Be Redeemed........................  49
SECTION 1104. Notice of Redemption.....................................................  49
SECTION 1105. Deposit of Redemption Price..............................................  50
SECTION 1106. Securities Payable on Redemption Date....................................  50
SECTION 1107. Securities Redeemed in Part..............................................  50

                                   ARTICLE TWELVE
                                   SINKING FUNDS

SECTION 1201. Applicability of Article.................................................  50
SECTION 1202. Satisfaction of Sinking Fund Payments with Securities....................  51
SECTION 1203. Redemption of Securities for Sinking Fund................................  51
</TABLE>
<PAGE>

                                         v
                                  ARTICLE THIRTEEN
          IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS
<TABLE>
<CAPTION>
<S>           <C>                                                                       <C>
                                                                                        Page
SECTION 1301. Indenture and Securities Solely Corporate Obligations....................  51
TESTIMONIUM............................................................................  52
SIGNATURES AND SEALS...................................................................  52
ACKNOWLEDGEMENTS.......................................................................  ??
</TABLE>
<PAGE>

  INDENTURE, dated as of March 1, 1983, between GEORGIA-PACIFIC CORPORATION, a
corporation duly organized and existing under the laws of the State of Georgia
(herein called the "Company"), having its principal office at 133 Peachtree
Street, N.E., Atlanta, Georgia 30303, and THE CHASE MANHATTAN BANK (NATIONAL
ASSOCIATION), a national banking association duly organized and existing under
the laws of the United States of America, as Trustee (herein called the
"Trustee").

                            RECITALS OF THE COMPANY

  The Company has duly authorized the execution and delivery of this Indenture
to provide for the issuance from time to time of its unsecured debentures, notes
or other evidences of indebtedness (herein called the "Securities"), to be
issued in one or more series as in this Indenture, provided.

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

  NOW, THEREFORE, THIS INDENTURE WITNESSETH:

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

                                  ARTICLE ONE
            DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

SECTION 101. Definitions.

  For all purposes of this Indenture, except as otherwise expressly provided or
unless the context otherwise requires:

       (1) the terms defined in this Article have the meanings assigned to them
     in this Article and include the plural as well as the singular;
       (2) all other terms used herein which are defined in the Trust Indenture
     Act, either directly or by reference therein, have the meanings assigned to
     them therein;
       (3) all accounting terms not otherwise defined herein have the meanings
     assigned to them in accordance with generally accepted accounting
     principles, and, except as otherwise herein expressly provided, the term
     "generally accepted accounting principles" with respect to any computation
     required or permitted hereunder shall mean such accounting principles as
     are generally accepted at the date of such computation; and
       (4) the words "herein", "hereof" and "hereunder" and other words of
     similar import refer to this Indenture as a whole and not to any particular
     Article, Section or other subdivision.

  Certain terms, used principally in Article Six, are defined in that Article.

  "Act", when used with respect to any Holder, has the meaning specified in
Section 104.

  "Affiliate" of any specified Person means any other Person directly or
indirectly controlling or controlled by or under direct or indirect common
control with such specified Person. For the purposes of this definition,
"control" when used with respect to any specified Person means the power to
direct the management and policies of such Person, directly or indirectly,
whether through the ownership of voting securities, by contract or otherwise;
and the terms "controlling" and "controlled" have meanings correlative to the
foregoing.

  "Authenticating Agent" means any Person authorized by the Trustee to act on
behalf of the Trustee to authenticate Securities.
<PAGE>

                                      2

  "Board of Directors" means either the board of directors of the Company or any
duly authorized committee of that board.

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

  "Business Day", when used with respect to any Place of Payment, means each
Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which
banking institutions in that Place of Payment are authorized or obligated by law
to close.

  "Commission" means the Securities and Exchange Commission, as from time to
time constituted, created under the Securities Exchange Act of 1934, or, if at
any time after the execution of this instrument 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.

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

  "Company Request" or "Company Order" means a written request or order signed
in the name of the Company by its Chairman of the Board, its President or a Vice
President, and by its Treasurer, an Assistant Treasurer, its Secretary or an
Assistant Secretary, and delivered to the Trustee.

  "Corporate Trust Office" means the principal office of the Trustee in the
Borough of Manhattan, The City of New York at which at any particular time its
corporate trust business shall be administered except that with respect to
presentation of Securities for payment or for registration of transfer or
exchange, such term shall mean the office or agency of the Trustee at which at
any particular time its corporate agency business shall be administered.

  "corporation" includes corporations, associations, companies and business
trusts.

  "Defaulted Interest" has the meaning specified in Section 307.

  "Event of Default" has the meaning specified in Section 501.

  "Holder" means a Person in whose name a Security is registered in the Security
Register.

  "Indenture" means this instrument as originally executed or as it may from
time to time be supplemented or amended by one or more indentures supplemental
hereto entered into pursuant to the applicable provisions hereof and shall
include the terms of particular series of Securities established as contemplated
by Section 301; provided, however, that such term shall exclude, if more than
one Person is acting as a Trustee under this instrument, any provisions or terms
which relate solely to other series of Securities for which any such Person is
not Trustee, regardless of when such terms or provisions were adopted, and any
provisions or terms adopted by means of one or more indentures supplemental
hereto executed and delivered after such Person had become such Trustee but to
which such Person, as such Trustee, was not a party.

  "interest", when used with respect to an Original Issue Discount Security
which by its terms bears interest only after Maturity, means interest payable
after Maturity.
<PAGE>

                                       3

  "Interest Payment Date", when used with respect to any Security, means the
Stated Maturity of an installment of interest on such Security.

  "Investments" means all investments, whether by acquisition of stock or
indebtedness, or by loan, advance, transfer of property, capital contribution or
otherwise.

  "Investments in Unrestricted Subsidiaries" means Investments made by the
Company or by any Restricted Subsidiary in Unrestricted Subsidiaries, net of
Investments made by Unrestricted Subsidiaries in the Company or any Restricted
Subsidiary.  If any corporation which becomes a Restricted Subsidiary after the
date of this Indenture shall, at the time it becomes a Restricted Subsidiary,
have any Investments in an Unrestricted Subsidiary, such Investments shall be
deemed to be Investments made by the Company in such Unrestricted Subsidiary at
the time such corporation becomes a Restricted Subsidiary, in the amount at
which such Investments are then carried on the books of such corporation.  If
any corporation shall become an Unrestricted Subsidiary after the date of this
Indenture, the Investments of the Company and its Restricted Subsidiaries in
such corporation shall be deemed to be Investments made at the time such
corporation becomes an Unrestricted Subsidiary, in the amount at which such
Investments are then carried on the books of the Company and its Restricted
Subsidiaries.

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

  "Net Tangible Assets" means, at any date, the aggregate amount of assets (less
applicable reserves and other properly deductible items) after deducting
therefrom (a) all current liabilities, (b) any item representing Investments in
Unrestricted Subsidiaries and (c) all goodwill, trade names, trademarks,
patents, unamortized debt discount and expense and other like intangibles, all
of the foregoing as set forth on the then most recent consolidated balance sheet
of the Company and its Subsidiaries and computed in accordance with generally
accepted accounting principles.

  "Officers' Certificate" means a certificate signed by the Chairman of the
Board, the President or a Vice President, and by the Treasurer, an Assistant
Treasurer, the Secretary or an Assistant Secretary, of the Company, and
delivered to the Trustee.

  "Opinion of Counsel" means a written opinion of counsel, who may be counsel
for the Company, and who shall be acceptable to the Trustee.

  "Original Issue Discount Security" means any Security which 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 502.

  "Outstanding", when used with respect to Securities, means, as of the date of
determination, all Securities theretofore authenticated and delivered under this
Indenture, except:

     (i) Securities theretofore cancelled by the Trustee or delivered to the
  Trustee for cancellation;
     (ii) Securities for whose payment or redemption money in the necessary
  amount has been theretofore deposited with the Trustee or any Paying Agent
  (other than the Company) in trust or set aside and segregated in trust by the
  Company (if the Company shall act as its own Paying Agent) for the Holders of
  such Securities; provided that, if such Securities are to be redeemed, notice
  of such redemption has been duly given pursuant to this Indenture or provision
  therefor satisfactory to the Trustee has been made; and
<PAGE>

                                      4

     (iii) Securities which have been paid pursuant to Section 306 or in
  exchange for or in lieu of which other Securities have been authenticated and
  delivered pursuant to this Indenture, other than any such Securities in
  respect of which there shall have been presented to the Trustee proof
  satisfactory to it that such Securities are held by a bona fide purchaser in
  whose hands such Securities are valid obligations of the Company;

provided, however, that in determining whether the Holders of the requisite
principal amount of the Outstanding Securities have given any request, demand,
authorization, direction, notice, consent or waiver hereunder and for the
purpose of making the calculation required by Section 703(a), (a) the principal
amount of an Original Issue Discount Security that may be counted in making such
determination or calculation and that shall be deemed to be Outstanding for such
purpose shall be equal to the amount of principal thereof that would be (or
shall have been declared to be) due and payable, at the time of such
determination, upon a declaration of acceleration of the maturity thereof
pursuant to Section 502, and (b) Securities owned by the Company or any other
obligor upon the Securities or any Affiliate of the Company or of such other
obligor shall be disregarded and deemed not to be Outstanding, except that, in
determining whether the Trustee shall be protected in making such calculation or
in relying upon any such request, demand, authorization, direction, notice,
consent or waiver, only Securities which the Trustee knows to be so owned shall
be so disregarded. Securities so owned which have been pledged in good faith may
be regarded as Outstanding if the pledgee establishes to the satisfaction of the
Trustee the pledgee's right so to act with respect to such Securities and that
the pledgee is not the Company or any other obligor upon the Securities or any
Affiliate of the Company or of such other obligor.

  "Paying Agent" means any Person authorized by the Company to pay the principal
of (and premium, if any) or interest on any Securities on behalf of the Company.

  "Person" means any individual, corporation, partnership, joint venture,
association, joint-stock company, trust, unincorporated organization or
government or any agency or political subdivision thereof.

  "Place of Payment", when used with respect to the Securities of any series,
means the place or places where the principal of (and premium, if any) and
interest on the Securities of that series are payable as specified as
contemplated by Section 301.

  "Predecessor Security" of any particular Security means every previous
Security evidencing all or a portion of the same debt as that evidenced by such
particular Security; and, for the purposes of this definition, any Security
authenticated and delivered under Section 306 in exchange for or in lieu of a
mutilated, destroyed, lost or stolen Security shall be deemed to evidence the
same debt as the mutilated, destroyed, lost or stolen Security.

   "Principal Property" means any mill, manufacturing plant, manufacturing
facility or timberlands, owned by the Company and/or one or more Restricted
Subsidiaries and located within the continental United States of America;
provided that the term "Principal Property" shall not include: (a) any such
mill, plant, facility or timberlands or portion thereof (i) which is financed by
obligations issued by a State, a Territory, or a possession of the United States
of America, or any political subdivision of any of the foregoing, or the
District of Columbia, the interest on which is excludable from gross income of
the holders thereof pursuant to the provisions of Section 103 (a) (1) (but only
if by reason of Section 103 (b)(4)(E) or (F)) of the Internal Revenue Code (or
any successor to such provision) as in effect at the time of the issuance of
such obligations, or (ii) which in the opinion of the Board of Directors is not
of material importance to the total business conducted by the Company and its
Restricted Subsidiaries, considered as a whole; or (b) any timberlands
designated by the Company's Board of Directors as being held primarily for
development and/or sale rather than for the production of timber; or (c) any
minerals or mineral rights.

  "Redemption Date", when used with respect to any Security to be redeemed,
means the date fixed for such redemption by or pursuant to this Indenture.
<PAGE>

                                      5

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

  "Regular Record Date" for the interest payable on any Interest Payment Date on
the Securities of any series means the date specified for that purpose as
contemplated by Section 301.

  "Responsible Officer", when used with respect to the Trustee, means the
chairman or any vice-chairman of the board of directors, the chairman or any
vice-chairman of the executive committee of the board of directors, the chairman
of the trust committee, the president, any vice president, the secretary, any
assistant secretary, the treasurer, any assistant treasurer, the cashier, any
assistant cashier, any trust officer or assistant trust officer, the controller
or any assistant controller or any other officer of the Trustee customarily
performing functions similar to those performed by any of the above designated
officers and also means, with respect to a particular corporate trust matter,
any other officer to whom such matter is referred because of his knowledge of
and familiarity with the particular subject.

  "Restricted Subsidiary" means any Subsidiary (i) substantially all of the
property of which is located within the continental United States of America and
(ii) which itself, or with the Company and/or one or more other Restricted
Subsidiaries, owns a Principal Property.

  "Securities" has the meaning stated in the first recital of this Indenture
and more particularly means any Securities authenticated and delivered under
this Indenture; provided, however, that if at any time there is more than one
Person acting as Trustee under this instrument, "Securities" with respect to the
Indenture as to which such Person is Trustee shall have the meaning stated in
the first recital of this instrument and shall more particularly mean Securities
authenticated and delivered under this instrument; exclusive, however, of
Securities of any series as to which such Person is not Trustee.

  "Security Register" and "Security Registrar" have the respective meanings
specified in Section 305.

  "Special Record Date" for the payment of any Defaulted Interest means a date
fixed by the Trustee pursuant to Section 307.

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

  "Subsidiary" means a corporation more than 50% of the outstanding voting stock
of which is owned, directly or indirectly, by the Company or by one or more
other Subsidiaries, or by the Company and one or more other Subsidiaries and
which is consolidated in the Company's accounts. For the purposes of this
definition, "voting stock" means stock which ordinarily has voting power for the
election of directors, whether at all times or only so long as no senior class
of stock has such voting power by reason of any contingency.

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

  "Trust Indenture Act" means the Trust Indenture Act of 1939 as in force at the
date as of which this instrument was executed, except as provided in Section
905.
<PAGE>

                                      6

  "Unrestricted Subsidiary" means any Subsidiary of the Company other than a
Restricted Subsidiary.

  "Vice President", when used with respect to the Company or the Trustee, means
any vice president, whether or not designated by a number or a word or words
added before or after the title "vice president".

SECTION 102. Compliance Certificates and Opinions.

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

  Every certificate or opinion with respect to compliance with a condition or
covenant provided for in this Indenture shall include

       (1) a statement that each individual signing such certificate or opinion
     has read such covenant or condition and the definitions herein relating
     thereto;

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

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

       (4) a statement as to whether, in the opinion of each such individual,
     such condition or covenant has been complied with.

SECTION 103. Form of Documents Delivered to Trustee.

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

  Any certificate or opinion of an officer of the Company may be based, insofar
as it relates to legal matters, upon a certificate or opinion of, or
representations by, counsel, unless such officer knows, or in the exercise of
reasonable care should know, that the certificate or opinion or representations
with respect to the matters upon which his certificate or opinion is based are
erroneous. Any such certificate or Opinion of Counsel may be based, insofar as
it relates to factual matters, upon a certificate or opinion of, or
representations by, an officer or officers of the Company stating that the
information with respect to such factual matters is in the possession of the
Company, unless such counsel knows, or in the exercise of reasonable care should
know, that the certificate or opinion or representations with respect to such
matters are erroneous.
<PAGE>

                                      7

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

SECTION 104. Acts of Holders.

  (a) Any request, demand, authorization, direction, notice, consent, waiver or
other action provided by this Indenture to be given or taken by Holders may be
embodied in and evidenced by one or more instruments of substantially similar
tenor signed by such Holders in person or by agent duly appointed in writing;
and, except as herein otherwise expressly provided, such action shall become
effective when such instrument or instruments are delivered to the Trustee and,
where it is hereby expressly required, to the Company.  Such instrument or
instruments (and the action embodied therein and evidenced thereby) are herein
sometimes referred to as the "Act" of the Holders signing such instrument or
instruments. Proof of execution of any such instrument or of a writing
appointing any such agent shall be sufficient for any purpose of this Indenture
and (subject to Section 601) conclusive in favor of the Trustee and the Company
and any agent of the Trustee or of the Company, if made in the manner provided
in this Section.

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

  (c) The ownership of Securities shall be proved by the Security Register.

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

SECTION 105. Notices, Etc., to Trustee and Company.

  Any request, demand, authorization, direction, notice, consent, waiver or Act
of Holders or other document provided or permitted by this Indenture to be made
upon, given or furnished to, or filed with.

       (1) the Trustee by any Holder or by the Company shall be sufficient for
     every purpose hereunder if made, given, furnished or filed in writing to or
     with the Trustee at its Corporate Trust Office. Attention: Corporate Trust
     Division, or

       (2) the Company by the Trustee or by any Holder shall be sufficient for
     every purpose hereunder (unless otherwise herein expressly provided) if in
     writing and mailed, first-class postage prepaid, to the Company addressed
     to it at the address of its principal office specified in the first
     paragraph of this instrument or at any other address previously furnished
     in writing to the Trustee by the Company.
<PAGE>

                                       8

SECTION 106. Notice to Holders; Waiver.

  Where this Indenture provides for notice to Holders of any event, such notice
shall be sufficiently given (unless otherwise herein expressly provided) if in
writing and mailed, first-class postage prepaid, to each Holder affected by such
event, at his address as it appears in the Security Register, not later than the
latest date, and not earlier than the earliest date, prescribed for the giving
of such notice.  In any case where notice to Holders is given by mail, neither
the failure to mail such notice, nor any defect in any notice so mailed, to any
particular Holder shall affect the sufficiency of such notice with respect to
other Holders.  Where this Indenture provides for notice in any manner, such
notice may be waived in writing by the Person entitled to receive such notice,
either before or after the event, and such waiver shall be the equivalent of
such notice.  Waivers of notice by Holders shall be filed with the Trustee, but
such filing shall not be a condition precedent to the validity of any action
taken in reliance upon such waiver.

  In case by reason of the suspension of regular mail service or by reason of
any other cause it shall be impracticable to give such notice by mail, then such
notification as shall be made with the approval of the Trustee shall constitute
a sufficient notification for every purpose hereunder.

SECTION 107. Conflict with Trust Indenture Act.

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

SECTION 108. Effect of Headings and Table of Contents.

  The Article and Section headings herein and the Table of Contents are for
convenience only and shall not affect the construction hereof.

SECTION 109. Successors and Assigns.

  All covenants and agreements in this Indenture by the Company shall bind its
successors and assigns, whether so expressed or not.

SECTION 110. Separability Clause.

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

SECTION 111. Benefits of Indenture.

  Nothing in this Indenture or in the Securities, express or implied, shall give
to any Person, other than the parties hereto, any Authenticating Agent, any
Paying Agent, any Security Registrar and their successors hereunder and the
Holders, any benefit or any legal or equitable right, remedy or claim under this
Indenture.

SECTION 112. Governing Law.

  This Indenture and the Securities shall be governed by and construed in
accordance with the laws of the State of New York.
<PAGE>

                                       9

SECTION 113. Legal Holidays.

  In any case where any Interest Payment Date, Redemption Date or Stated
Maturity of any Security shall not be a Business Day at any Place of Payment,
then (notwithstanding any other provision of this Indenture or of the
Securities) payment of interest or principal (and premium, if any) need not be
made at such Place of Payment on such date, but may be made on the next
succeeding Business Day at such Place of Payment with the same force and effect
as if made on the Interest Payment Date or Redemption Date, or at the Stated
Maturity, provided that no interest shall accrue for the period from and after
such Interest Payment Date, Redemption Date or Stated Maturity, as the case may
be.
<PAGE>

                                      10

                                  ARTICLE TWO
                                 SECURITY FORMS

SECTION 201. Forms Generally.

  The Securities of each series shall be in substantially the forms set forth in
this Article, or in such other form as shall be established by or pursuant to a
Board Resolution 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 such letters,
numbers or other marks of identification and such legends or endorsements placed
thereon as may be required to comply with the rules of any securities exchange
or as may, consistently herewith, be determined by the officers executing such
Securities, as evidenced by their execution of the Securities. If the form of
Securities of any series is established by action taken pursuant to a Board
Resolution, a copy of an appropriate record of such action shall be certified by
the Secretary or an Assistant Secretary of the Company and delivered to the
Trustee at or prior to the delivery of the Company Order contemplated by Section
303 for the authentication and delivery of such Securities.

  The Trustee's certificates of authentication shall be in substantially the
form set forth in this Article.

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

SECTION 202. Form of Face of Security.

  [If the Security is an Original Issue Discount Security, insert--For Purposes
of Section 1232 of the United States Internal Revenue Code of 1954, AS AMENDED,
THE ISSUE  PRICE OF THIS SECURITY IS   % OF ITS PRINCIPAL AMOUNT AND THE ISSUE
DATE IS        , 19  ][OR CORRESPONDING LEGEND APPROPRIATE AT THE TIME OF
ISSUANCE.]

                          GEORGIA-PACIFIC CORPORATION
                   ........................................

No.                                             $

  GEORGIA-PACIFIC CORPORATION, a Georgia corporation (hereinafter referred to as
the "Company"), for value received, hereby promises to pay to                 ,
or registered assigns, the principal sum of                     Dollars on
[If the Security is to bear interest prior to Maturity, insert--and to pay
interest thereon from              or from the most recent Interest Payment Date
to which interest has been paid or duly provided for, semi-annually on    and
        in each year, commencing
              , at the rate of   % per annum, until the principal hereof is paid
or made available for payment [If applicable insert--, and (to the extent that
the payment of such interest shall be legally enforceable) at the rate of ___ %
per annum on any overdue principal and premium and on any overdue instalment of
interest]. The interest so payable, and punctually paid or duly provided for, on
any Interest Payment Date will, as provided in the Indenture hereinafter
referred to, be paid to the Person in whose name this Security (or one or more
Predecessor Securities) is registered at the close of business on the Regular
Record Date for such interest, which shall be the ............ or ............
(whether or not a Business Day), as the case may be, next preceding such
Interest Payment Date. Any such interest not so punctually paid or duly provided
for will forthwith cease to be payable to the Holder on such Regular Record Date
and may either be paid to the Person in whose name this Security (or one or more
Predecessor Securities) is registered at the close of business on a Special
Record Date for the payment of such Defaulted Interest to be fixed by the
Trustee, notice whereof shall be given to Holders of Securities of this series
not less than 10 days prior to such Special Record Date, or be paid at any time
in any other lawful manner not inconsistent with the requirements of any
securities exchange on which the Securities of this series may be listed, and
upon such notice as may be required by such exchange, all as more fully provided
in said Indenture.] [If the Security is not to bear interest prior to Maturity,
insert--The principal of this Security shall not bear interest except in the
case of a default in payment of principal upon acceleration, upon redemption or
at Stated Maturity and in such case the overdue principal of this Security shall
bear interest at the rate of   % per annum (to the extent that the payment of
such interest shall be legally enforceable), which shall accrue from the date of
such default in payment to the date payment or such principal has been made or
duly provided for. Interest on
<PAGE>

                                      11

any overdue principal shall be payable on demand. Any such interest on any
overdue principal that is not so paid on demand shall bear interest at the rate
of ___% per annum (to the extent that the payment of such interest shall be
legally enforceable), which shall accrue from the date of such demand for
payment to the date payment of such interest has been made or duly provided for,
and such interest shall also be payable on demand.]

  Payment of the principal of (and premium, if any) and [if applicable, insert--
any such] interest on this Security will be made at the office or agency of the
Company maintained for that purpose in the Borough of Manhattan, The City of New
York, in such coin or currency of the United States of America as at the time of
payment is legal tender for payment of public and private debt [if applicable,
insert--; provided, however, that at the option of the Company payment of
interest may be made by check mailed to the address of the Person entitled
thereto as such address shall appear in the Security Register].

  Reference is hereby made to the further provisions of this Security set forth
on the reverse hereof, which further provisions shall for all purposes have the
same effect as if set forth at this place.

  Unless the certificate of authentication hereon has been executed by the
Trustee referred to on the reverse hereof by manual signature, this Security
shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose.

  IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed
under its corporate seal.

Dated:

                         GEORGIA-PACIFIC CORPORATION

                              BY:  ______________________

Attest:

 ................................

SECTION 203. Form of Reverse of Security.

   This Security is one of a duly authorized issue of securities of the Company
(herein called the "Securities"), issued and to be issued in one or more series
under an Indenture, dated as of March 1, 1983 (herein called the "Indenture"),
between the Company and The Chase Manhattan Bank (National Association), as
Trustee (herein called the "Trustee", which term includes any successor trustee
under the Indenture with respect to the series of Securities of which this
Security is a part), to which Indenture and all indentures supplemental thereto
reference is hereby made for a statement of the respective rights, limitations
of rights, duties and immunities thereunder of the Company, the Trustee and the
Holders of the Securities and of the terms upon which the Securities are, and
are to be, authenticated and delivered. This Security is one of the series
designated on the face hereof [,limited in aggregate principal amount to $    ].

  [If applicable, insert--The Securities of this series are subject to
redemption upon not less than 30 nor more than 60 days, notice by mail. [if
applicable, insert--(l) on     in any year commencing with the year   and ending
with the year   through operation of the sinking fund for this series at a
Redemption Price equal to   % of the principal amount, and (2)] at any time [on
or after .............., 19..], as a whole or in part, at the election of the
Company, at the following Redemption Prices (expressed as percentages of the
principal amount):  If redeemed [on or before.......,..%, and if redeemed]
during the 12-month period ending....... of the years indicated,

                          Redemption                     Redemption
             Year            Price          Year            Price
             ----         ----------        ----         ----------

<PAGE>

                                      12

and thereafter at a Redemption Price equal to ...% of the principal amount,
together in the case of any such redemption [if applicable, insert--(whether
through operation of the sinking fund or otherwise)] with accrued interest to
the Redemption Date, but interest instalments whose Stated Maturity is on or
prior to such Redemption Date will be payable to the Holders of such Securities,
or one or more Predecessor Securities, of record at the close of business on the
relevant Record Dates referred to on the face hereof, all as provided in the
Indenture.]

  [If applicable, insert--The Securities of this series are subject to
redemption upon not less than 30 nor more than 60 days' notice by mail (1)
on.............. in any year commencing with the year.... and ending with the
year.... through operation of the sinking fund for this series at the Redemption
Prices for redemption through operation of the sinking fund (expressed as
percentages of the principal amount) set forth in the table below, and (2) at
any time [on or after ......... ], as a whole or in part, at the election of the
Company, at the Redemption Prices for redemption otherwise than through
operation of the sinking fund (expressed as percentages of the principal amount)
set forth in the table below: if redeemed during the 12-month period ending.....
of the years indicated.

                         Redemption Price
                          For Redemption                Redemption Price For
                        Through Operation               Redemption Otherwise
                              of the                   Than Through Operation
      Year                Sinking Fund                  of the Sinking Fund
      ----              -----------------              ----------------------

and thereafter at a Redemption Price equal to ...% of the principal amount,
together in the case of any such redemption (whether through operation of the
sinking fund or otherwise) with accrued interest to the Redemption Date, but
interest instalments whose Stated Maturity is on or prior to such Redemption
Date will be payable to the Holders of such Securities, or one or more
Predecessor Securities, of record at the close of business on the relevant
Record Dates referred to on the face hereof, all as provided in the Indenture.]

  [Notwithstanding the foregoing, the Company may not, prior to ...., redeem
any Securities of this series as contemplated by [Clause (2) of] the preceding
paragraph as a part of, or in anticipation of, any refunding operation by the
application, directly or indirectly, of money borrowed having an interest cost
to the Company (calculated in accordance with generally accepted financial
practice) of less than .. % per annum.]

  [The sinking fund for this series provides for the redemption on .... in each
year beginning with the year ... and ending with the year ... of [not less than]
$.. [("mandatory sinking fund") and not more than $.. ] aggregate principal
amount of Securities of this series. [Securities of this series acquired or
redeemed by the Company otherwise than through [mandatory] sinking fund payments
may be credited against subsequent [mandatory] sinking fund payments otherwise
required to be made [--in the inverse order in which they become due.]

  In the event of redemption of this Security in part only, a new Security or
Securities of this series for the unredeemed portion hereof will be issued in
the name of the Holder hereof upon the cancellation hereof.

  [If the Security is not an Original Issue Discount Security,--If an Event of
Default with respect to Securities of this series shall occur and be continuing,
the principal of the Securities of this series may be declared due and payable
in the manner and with the effect provided in the Indenture.]

  [If the Security is an Original Issue Discount Security,--If an Event of
Default with respect to Securities of this series shall occur and be continuing,
an amount of principal of the Securities of this series may be declared due and
payable in the manner and with the effect provided in the Indenture. Such amount
shall be equal to--insert formula for determining the amount. Upon payment (i)
of the amount of principal so declared due and payable and (ii) of interest on
any overdue principal and overdue interest (in each case to the extent that the
payment of such interest shall be legally enforceable), all of the Company's
obligations in respect of the payment of the principal of and interest, if any,
on the Securities of this series shall terminate.]

  [If applicable, insert--The covenants set forth in Sections... of the
Indenture shall not be applicable to the Securities of this series.]
<PAGE>

                                      13

  The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Securities of each series to be
affected under the Indenture at any time by the Company and the Trusts with the
consent of the Holders of 66 2/3% in principal amount of the Securities at the
time Outstanding of each series to be affected. The Indenture also contains
provisions permitting the Holders of specified percentages in principal amount
of the Securities of each series at the time Outstanding, on behalf of the
Holders of all the Securities of such series, to waive compliance by the Company
with certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder of
this Security shall be conclusive and binding upon such Holder and upon all
future Holders of this Security and of any Security issued upon the registration
of transfer hereof or in exchange herefor or in lieu hereof, whether or not
notation of such consent or waiver is made upon this Security.

  No reference herein to the Indenture and no provision of this Security or of
the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of (and premium, if any) and
interest on this Security at the times, place and rate, and in the coin or
currency, herein prescribed.

  As provided in the Indenture and subject to certain limitations therein set
forth, the transfer of this Security is registrable in the Security Register,
upon surrender of this Security for registration of transfer at the office or
agency of the Company in any place where the principal of (and premium, if any)
and interest on this Security are payable, duly endorsed by, or accompanied by a
written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Securities of this series,
of authorized denominations and for the same aggregate principal amount, will be
issued to the designated transferee or transferees.

  The Securities of this series are issuable only in registered form without
coupons in denominations of $     and any integral multiple thereof. As provided
in the Indenture and subject to certain limitations therein set forth,
Securities of this series are exchangeable for a like aggregate principal amount
of Securities of this series of a different authorized denomination, as
requested by the Holder surrendering the same.

  No service charge shall be made for any such registration of transfer or
exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.

  Prior to due presentment of this Security for registration of transfer, the
Company, the Trustee and any agent of the Company or the Trustee may treat the
Person in whose name this Security is registered as the owner hereof for all
purposes, whether or not this Security be overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary.

  All terms used in this Security which are defined in the Indenture shall have
the meanings assigned to them in the Indenture.

SECTION 204. Form of Trustee's Certificate of Authentication.

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

                                    THE CHASE MANHATTAN BANK
                                     (NATIONAL ASSOCIATION),
                                          as Trustee

                          By :__________________________________
                                      Authorized Officer

                                        ARTICLE THREE
                                       THE SECURITIES
<PAGE>

                                      14

SECTION 301. Amount Unlimited; Issuable in Series.

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

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

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

     (2) any limit upon the aggregate principal amount of the Securities of the
  series which may be authenticated and delivered under this Indenture (except
  for Securities authenticated and delivered upon registration of transfer of,
  or in exchange for, or in lieu of, other Securities of the series pursuant to
  Section 304, 305, 306, 906 or 1107);

     (3) the date or dates on which the principal of the Securities of the
  series is payable;

     (4) the rate or rates at which the Securities of the series shall bear
  interest, if any, or the method by which such rate or rates shall be
  determined, the date or dates from which such interest shall accrue or the
  method by which such date or dates shall be determined, the Interest Payment
  Dates on which such interest shall be payable and the Regular Record Date for
  the interest payable on any Interest Payment Date;

     (5) the place or places where the principal of (and premium, if any) and
  interest, if any, on Securities of the series shall be payable;

     (6) the period or periods within which, the price or prices at which and
  the terms and conditions upon which Securities of the series may be redeemed,
  in whole or in part, at the option of the Company;

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

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

     (9) if other than the principal amount thereof, the portion of the
  principal amount of Securities of the series which shall be payable upon
  declaration of acceleration of the Maturity thereof pursuant to Section 502 or
  the method by which such portion shall be determined; and

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

  All Securities of any one series shall be substantially identical except as to
denomination and except as may otherwise be provided in or pursuant to such
Board Resolution and set forth in such Officers' Certificate or in any such
indenture supplemental hereto.

  If any of the terms of the series are established by action taken pursuant to
a Board Resolution, a copy of an appropriate record of such action shall be
certified by the Secretary or an Assistant Secretary of the Company
<PAGE>

                                      15

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

SECTION 302. Denominations.

  The Securities of each series shall be issuable in registered form without
coupons in such denominations as shall be specified as contemplated by Section
301. In the absence of any such provisions with respect to the Securities of any
series, the Securities of such series, shall be issuable in denominations of
$1,000 and any integral multiple thereof.

SECTION 303. Execution, Authentication, Delivery and Dating.

  The Securities shall be executed on behalf of the Company by its Chairman of
the Board, its President or one of its Vice Presidents, under its corporate seal
reproduced thereon attested by its Secretary or one of its Assistant
Secretaries. The signature of any of these officers on the Securities may be
manual or facsimile.

  Securities bearing the manual or facsimile signatures of individuals who were
at the time of the execution thereof the proper officers of the Company shall
bind the Company, notwithstanding that such individuals or any of them have
ceased to hold such offices prior to the authentication and delivery of such
Securities or did not hold such offices at the date of such Securities.

  At any time and from time to time after the execution and delivery of this
Indenture, the Company may deliver Securities of any series executed by the
Company to the Trustee for authentication, together with a Company Order for the
authentication and delivery of such Securities, and the Trustee in accordance
with the Company Order shall authenticate and deliver such Securities. If the
form or terms of the Securities of the series have been established in or
pursuant to one or more Board Resolutions as permitted by Sections 201 and 301,
in authenticating such Securities, and accepting the additional responsibilities
under this Indenture in relation to such Securities, the Trustee shall be
entitled to receive, and (subject to Section 601) shall be fully protected in
relying upon, an Opinion of Counsel stating,

       (a) if the form of such Securities has been established by or pursuant to
       Board Resolution as permitted by Section 201, that such form has been
       established in conformity with the provisions of this Indenture;

       (b) if the teams of such Securities have been established by or pursuant
       to Board Resolution as permitted by Section 301, that such terms have
       been established in conformity with the provisions of this Indenture; and

       (c) that such Securities, when authenticated and delivered by the Trustee
       and issued by the Company in the manner and subject to any conditions
       specified in such Opinion of Counsel, will constitute valid and legally
       binding obligations of the Company, enforceable in accordance with their
       terms, subject to bankruptcy, insolvency, reorganization and other laws
       of general applicability relating to or affecting the enforcement of
       creditors' rights and to general equity principles, regardless of
       whether such enforceability is considered in a proceeding at equity or
       law.

If such form or terms have been so established, the Trustee shall not be
required to authenticate such Securities if the issue of such Securities
pursuant to this Indenture will affect the Trustee's own rights, duties or
immunities under the Securities and this Indenture or otherwise in a manner
which is not reasonably acceptable to the Trustee.

  Each Security shall be dated the date of its authentication.
<PAGE>

                                      16

  No Security shall be entitled to any benefit under this Indenture or be valid
or obligatory for any purpose unless there appears on such Security a
certificate of authentication substantially in the form provided for herein
executed by the Trustee by manual signature, and such certificate upon any
Security shall be conclusive evidence, and the only evidence, that such Security
has been duly authenticated and delivered hereunder and is entitled to the
benefits of this Indenture.

SECTION 304. Temporary Securities.

  Pending the preparation of definitive Securities of any series, the Company
may execute, and upon Company Order the Trustee shall authenticate and deliver,
temporary Securities which are printed, lithographer, typewritten, mimeographed
or otherwise produced, in any authorized denomination, substantially of the
tenor of the definitive Securities in lieu of which they are issued and with
such appropriate insertions, omissions, substitutions and other variations as
the officers executing such Securities may determine, as evidenced by their
execution of such Securities.

  If temporary Securities of any series are issued, the Company will cause
definitive Securities of that series to be prepared without unreasonable delay.
After the preparation of definitive Securities of such series, the temporary
Securities of such series shall be exchangeable for definitive Securities of
such series upon surrender of the temporary Securities of such series at the
office or agency of the Company in a Place of Payment for that series, without
charge to the Holder. Upon surrender for cancellation of any one or more
temporary Securities of any series the Company shall execute and the Trustee
shall authenticate and deliver in exchange therefor a like principal amount of
definitive Securities of the same series of authorized denominations. Until so
exchanged the temporary Securities of any series shall in all respects be
entitled to the same benefits under this Indenture as definitive Securities of
such series.

SECTION 305. Registration, Registration of Transfer and Exchange.

  The Company shall cause to be kept at the Corporate Trust Office of the
Trustee a register (the register maintained in such office and in any other
office or agency of the Company in a Place of Payment being herein sometimes
collectively referred to as the "Security Register") in which, subject to such
reasonable regulations as it may prescribe, the Company shall provide for the
registration of Securities and of transfers of Securities. The Trustee is hereby
initially appointed "Security Registrar" for the purpose of registering
Securities and transfers of Securities as herein provided.

  Upon surrender for registration of transfer of any Security of any series at
the office or agency in a Place of Payment for that series, the Company shall
execute, and the Trustee shall authenticate and deliver, in the name of the
designated transferee or transferees, one or more new Securities of the same
series, of any authorized denominations and of a like aggregate principal
amount.

  At the option of the Holder, Securities of any series may be exchanged for
other Securities of the same series, of any authorized denominations and of a
like aggregate principal amount, upon surrender of the Securities to be
exchanged at such office or agency. Whenever any Securities are so surrendered
for exchange, the Company shall execute, and the Trustee shall authenticate and
deliver, the Securities which the Holder making the exchange is entitled to
receive.

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

                                      17

  Every Security presented or surrendered for registration of transfer or for
exchange shall (if so required by the Company or the Trustee) be duly endorsed,
or be accompanied by a written instrument of transfer in form satisfactory to
the Company and the Security Registrar duly executed, by the Holder thereof or
his attorney duly authorized in writing.

  No service charge shall be made for any registration of transfer or exchange
of Securities, but 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
registration of transfer or exchange of Securities, other than exchanges
pursuant to Section 304, 906 or 1107 not involving any transfer.

  The Company shall not be required (i) to issue, register the transfer of or
exchange Securities of any series during a period beginning at the opening of
business 15 days before the day of the mailing of a notice of redemption of
Securities of that series selected for redemption under Section 1103 and ending
at the close of business on the day of such mailing, or (ii) to register the
transfer of or exchange any Security so selected for redemption in whole or in
part, except the unredeemed portion of any Security being redeemed in part.

SECTION 306. Mutilated, Destroyed, Lost and Stolen Securities.

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

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

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

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

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

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

SECTION 307. Payment of Interest; Interest Rights Preserved.

  Interest on any Security which is payable, and is punctually paid or duly
provided for, on any Interest Payment Date shall be paid to the Person in whose
name that Security (or one or more Predecessor Securities) is registered at the
close of business on the Regular Record Date for such interest.
<PAGE>

                                      18

  Any interest on any Security of any series which is payable, but is not
punctually paid or duly provided for, on any Interest Payment Date (herein
called "Defaulted Interest") shall, if such interest remains unpaid for a period
of 30 days, forthwith cease to be payable to the Holder on the relevant Regular
Record Date by virtue of having been such Holder, and such Defaulted Interest
may be paid by the Company, at its election in each case, as provided in clause
(1) or (2) below:

     (1) The Company may elect to make payment of any Defaulted Interest to the
  Persons in whose names the Securities of such series (or their respective
  Predecessor Securities) are registered at the close of business on a Special
  Record Date for the payment of such Defaulted Interest, which shall be fixed
  in the following manner. The Company shall notify the Trustee in writing of
  the amount of Defaulted Interest proposed to be paid on each Security of such
  series and the date of the proposed payment, and at the same time the Company
  shall deposit with the Trustee an amount of money equal to the aggregate
  amount proposed to be paid in respect of such Defaulted Interest or shall make
  arrangements satisfactory to the Trustee for such deposit prior to the date of
  the proposed payment, such money when deposited to be held in trust for the
  benefit of the Persons entitled to such Defaulted Interest as in this clause
  provided. Thereupon the Trustee shall fix a Special Record Date for the
  payment of such Defaulted Interest which shall be not more than 15 days and
  not less than 10 days prior to the date of the proposed payment and not less
  than l0 days after the receipt by the Trustee of the notice of the proposed
  payment. The Trustee shall promptly notify the Company of such Special Record
  Date and, in the name and at the expense of the Company, shall cause notice of
  the proposed payment of such Defaulted Interest and the Special Record Date
  therefor to be mailed, first-class postage prepaid, to each Holder of
  Securities of such series at his address as it appears in the Security
  Register, not less than 10 days prior to such Special Record Date. Notice of
  the proposed payment of such Defaulted Interest and the Special Record Date
  therefor having been so mailed, such Defaulted Interest shall be paid to the
  Persons in whose names the Securities of such series (or their respective
  Predecessor Securities) are registered at the close of business on such
  Special Record Date and shall no longer be payable pursuant to the following
  clause (2).

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

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

SECTION 308. Persons Deemed Owners.

  Prior to due presentment of a Security for registration of transfer, the
Company, the Trustee and any agent of the Company or the Trustee may treat the
Person in whose name such Security is registered as the owner of such Security
for the purpose of receiving payment of principal of (and premium, if any) and
(subject to Section 307) interest on such Security and for all other purposes
whatsoever, whether or not such Security be overdue, and neither the Company,
the Trustee nor any agent of the Company or the Trustee shall be affected by
notice to the contrary.

SECTION 309. Cancellation.

  All Securities surrendered for payment, redemption, registration of transfer
or exchange or for credit against any sinking fund payment shall, if surrendered
to any Person other than the Trustee, be delivered to the Trustee
<PAGE>

                                      19

and shall be promptly cancelled by it. The Company may at any time deliver to
the Trustee for cancellation any Securities previously authenticated and
delivered hereunder which the Company may have acquired in any manner
whatsoever, and all Securities so delivered shall be promptly cancelled by the
Trustee. If the Company shall so acquire any of the Securities, however, such
acquisition shall not operate as a redemption or satisfaction of the
indebtedness represented by such Securities unless and until the same are
surrendered to the Trustee for cancellation. No Securities shall be
authenticated in lieu of or in exchange for any Securities cancelled as provided
in this Section, except as expressly permitted by this Indenture. All cancelled
Securities held by the Trustee shall be disposed of as directed by a Company
Order and the Trustee shall deliver a certificate of destruction to the Company.

SECTION 310. Computation of Interest.

  Except as otherwise specified as contemplated by Section 301 for Securities of
any series, interest on the Securities of each series shall be computed on the
basis of a year of twelve 30-day months.

                                  ARTICLE FOUR
                           SATISFACTION AND DISCHARGE

SECTION 401. Satisfaction and Discharge of Indenture.

  This Indenture shall upon Company Request cease to be of further effect with
respect to any series of Securities (except as to any surviving rights of
registration of transfer or exchange of Securities of such series herein
expressly provided for), and the Trustee, at the expense of the Company, shall
execute proper instruments acknowledging satisfaction and discharge of this
Indenture as to such series, when

    (1) either

        (A) all Securities of such series theretofore authenticated and
    delivered (other than (i) Securities which have been destroyed, lost or
    stolen and which have been replaced or paid as provided in Section 306 and
    (ii) Securities for whose payment money has theretofore been deposited in
    trust or segregated and held in trust by the Company and thereafter repaid
    to the Company or discharged from such trust, as provided in Section 1003)
    have been delivered to the Trustee for cancellation; or

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

            (i) have become due and payable, or

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

            (iii) are to be called for redemption within one year under
        arrangements satisfactory to the Trustee for the giving of notice of
        redemption by the Trustee in the name, and at the expense, of the
        Company,

    and the Company, in the case of (i), (ii) or (iii) above, has deposited or
    caused to be deposited with the Trustee as trust funds in trust for the
    purpose an amount sufficient to pay and discharge the entire indebtedness on
    such Securities not theretofore delivered to the Trustee for cancellation,
    for principal (and premium, if any) and interest to the date of such deposit
    (in the case of Securities which have become due and payable) or to the
    Stated Maturity or Redemption Date, as the case may be;

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

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

                                      20

  Notwithstanding the satisfaction and discharge of this Indenture, the
obligations of the Company to the Trustee under Section 607, the obligations of
the Trustee to any Authenticating Agent under Section 614 and, if money shall
have been deposited with the Trustee pursuant to subclause (B) of clause (1) of
this Section, the obligations of the Trustee under Section 402 and the last
paragraph of Section 1003 shall survive.

SECTION 402. Application of Trust, Money.

  Subject to the provisions of the last paragraph of Section 1003, all money
deposited with the Trustee pursuant to Section 401 shall be held in trust and
applied by it, in accordance with the provisions of the Securities and this
Indenture, to the payment, either directly or through any Paying Agent
(including the Company acting as its own Paying Agent) as the Trustee may
determine, to the Persons entitled thereto, of the principal (and premium, if
any) and interest for whose payment such money has been deposited with the
Trustee.

                                  ARTICLE FIVE
                                    REMEDIES

SECTION 501. Events of Default.

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

       (1) default in the payment of any interest upon any Security of that
     series when it becomes due and payable, and continuance of such default for
     a period of 30 days: or

       (2) default in the payment of the principal of (or premium, if any, on)
     any Security of that series at its Maturity; or

       (3) default in the performance, or breach, of any covenant or warranty of
     the Company in this Indenture (other than a covenant or warranty a default
     in whose performance or whose breach is elsewhere in this Section
     specifically dealt with or which has expressly been included in this
     Indenture solely for the benefit of series of Securities other than that
     series), and continuance of such default or breach for a period of 90 days
     after there has been given, by registered or certified mail, to the Company
     by the Trustee or to the Company and the Trustee by the Holders of at least
     25% in principal amount of the Outstanding Securities of that series a
     written notice specifying such default or breach and requiring it to be
     remedied and stating that such notice is a "Notice of Default" hereunder;
     or

       (4) the entry by a court having jurisdiction in the premises of (A) a
     decree or order for relief in respect of the Company in an involuntary case
     or proceeding under any applicable Federal or State bankruptcy, insolvency,
     reorganization or other similar law or (B) a decree or order adjudging the
     Company a bankrupt or insolvent, or approving as properly filed a petition
     seeking reorganization, arrangement, adjustment or composition of or in
     respect of the Company under any applicable Federal or State law, or
     appointing a custodian, receiver, liquidator, assignee, trustee,
     sequestrator or other similar official of the Company or of any substantial
     part of its property, or ordering the winding up or liquidation of its
     affairs, and the continuance of any such decree or order for relief or any
     such other decree or order unstayed and in effect for a period of 60
     consecutive days; or
<PAGE>

                                      21

       (5) the commencement by the Company of a voluntary case or proceeding
     under any applicable Federal or State bankruptcy, insolvency,
     reorganization or other similar law or of any other case or proceeding to
     be adjudicated a bankrupt or insolvent, or the consent by it to the entry
     of a decree or order for relief in respect of the Company in an involuntary
     case or proceeding under any applicable Federal or State bankruptcy,
     insolvency, reorganization or other similar law or to the commencement of
     any bankruptcy or insolvency case or proceeding against it, or the filing
     by it of a petition or answer or consent seeking reorganization or relief
     under any applicable Federal or State law, or the consent by it to the
     filing of such petition or to the appointment of or taking possession by a
     custodian, receiver, liquidator, assignee, trustee, sequestrator or similar
     official of the Company or of any substantial part of its property, or the
     making by it of an assignment for the benefit of creditors, or the
     admission by it in writing of its inability to pay its debts generally as
     they become due; or

       (6) any other Event of Default provided with respect to Securities of
     that series.

SECTION 502. Acceleration of Maturity; Rescission and Annulment.

   If an Event of Default with respect to Securities of any series at the time
Outstanding occurs and is continuing, then and in every such case the Trustee or
the Holders of not less than 25% in principal amount of the Outstanding
Securities of that series may declare the principal amount (or, if the
Securities of that series are Original Issue Discount Securities, such portion
of the principal amount as may be specified in the terms of that series) of all
the Securities of that series to be due and payable immediately, by a notice in
writing to the Company (and to the Trustee if given by Holders), and upon any
such declaration such principal amount (or specified portion thereof) shall
become immediately due and payable.

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

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

           (A) all overdue interest on all Securities of that series,

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

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

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

     and

       (2) all Events of Default with respect to Securities of that series,
     other than the non-payment of the principal of Securities of that series
     which have become due solely by such declaration of acceleration, have been
     cured or waived as provided in Section 513.

No such rescission shall affect any subsequent default or impair any right
consequent thereon.
<PAGE>

                                      22

SECTION 503. Collection of Indebtedness and Suits for Enforcement by Trustee.

  The Company covenants that if

     (1) default is made in the payment of any interest on any Security when
  such interest becomes due and payable and such default continues for a period
  of 30 days, or

     (2) default is made in the payment of the principal of (or premium, if any,
  on) any Security at the Maturity thereof,

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

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

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

SECTION 504. Trustee May File Proofs of Claim.

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

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

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

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or
other similar official in any such judicial proceeding is hereby authorized by
each Holder to make such payments to the Trustee and, in the event that the
Trustee shall consent to the making of such payments directly to the Holders, to
pay to the Trustee any amount due it for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and any other
amounts due the Trustee under Section 607.
<PAGE>

                                      23

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

SECTION 505. Trustee May Enforce Claims without Possession of Securities.

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

SECTION 506. Application of Money Collected.

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

     FIRST: To the payment of all amounts due the Trustee under Section 607; and

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

SECTION 507. Limitation on Suits.

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

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

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

     (3) such Holder or Holders have offered to the Trustee reasonable indemnity
  against the costs, expenses and liabilities to be incurred in compliance with
  such request:

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

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

it being understood and intended that no one or more of such Holders shall have
any fight in any manner whatever by virtue of, or by availing of, any provision
of this Indenture to affect, disturb or prejudice the rights of any other of
such Holders, or to obtain or to seek to obtain priority or preference over any
other of such
<PAGE>

                                      24

Holders or to enforce any right under this Indenture, except in the manner
herein provided and for the equal and ratable benefit of all of such Holders.

SECTION 508. Unconditional Right of Holders to Receive Principal, Premium and
Interest.

  Notwithstanding any other provision in this Indenture, the Holder of any
Security shall have the right, which is absolute and unconditional, to receive
payment of the principal of (and premium, if any) and (subject to Section 307)
interest on such Security on the Stated Maturity or Maturities expressed in such
Security (or, in the case of redemption, on the Redemption Date) and to
institute suit for the enforcement of any such payment, and such rights shall
not be impaired without the consent of such Holder.

SECTION 509. Restoration of Rights and Remedies.

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

SECTION 510. Rights and Remedies Cumulative.

  Except as otherwise provided with respect to the replacement or payment of
mutilated, destroyed, lost or stolen Securities in the last paragraph of Section
306, no right or remedy herein conferred upon or reserved to the Trustee or to
the Holders is intended to be exclusive of any other right or remedy, and every
right and remedy shall, to the extent permitted by law, be cumulative and in
addition to every other right and remedy given hereunder or now or hereafter
existing at law or in equity or otherwise. The assertion or employment of any
right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other appropriate right or remedy.

SECTION 511. Delay or Omission Not Waiver.

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

SECTION 512. Control by Holders.

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

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

     (2) the Trustee may take any other action deemed proper by the Trustee
  which is not inconsistent with such direction.
<PAGE>

                                      25

SECTION 513. Waiver of Past Defaults.

  The Holders of not less than a majority in principal amount of the Outstanding
Securities of any series may on behalf of the Holders of all the Securities of
such series waive any past default hereunder with respect to such series and its
consequences, except a default

    (1) in the payment of the principal of (or premium, if any) or interest on
  any Security of such series, or

    (2) in respect of a covenant or provision hereof which under Article Nine
  cannot be modified or amended without the consent of the Holder of each
  Outstanding Security of such series affected.

  Upon any such waiver, such default shall cease to exist, and any Event of
Default arising therefrom shall be deemed to have been cured, for every purpose
of this Indenture; but no such waiver shall extend to any subsequent or other
default or impair any right consequent thereon.

SECTION 514. Undertaking for Costs.

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

SECTION 515. Waiver of Stay or Extension Laws.

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

                                  ARTICLE SIX
                                  THE TRUSTEE

SECTION 601. Certain Duties and Responsibilities.

   (a) Except during the continuance of an Event of Default,

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

     (2) in the absence of bad faith on its part, the Trustee may conclusively
  rely, as to the truth of the statements and the correctness of the opinions
  expressed therein, upon certificates or opinions furnished to the Trustee and
  conforming to the requirements of this Indenture; but in the case of any such
  certificates or opinions which by any provision hereof are specifically
  required to be furnished to the Trustee, the Trustee
<PAGE>

                                      26

  shall be under a duty to examine the same to determine whether or not they
  conform to the requirements of this Indenture.

  (b) In case an Event of Default with respect to Securities of any series has
occurred and is continuing, the Trustee shall with respect to such Securities
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.

  (c) No provision of this Indenture shall be construed to relieve the Trustee
from liability for its own negligent action, its own negligent failure to act,
or its own wilful misconduct, except that

     (1) this Subsection shall not be construed to limit the effect of
  Subsection (a) of this Section;

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

     (3) the Trustee shall not be liable with respect to any action taken or
  omitted to be taken by it in good faith in accordance with the direction of
  the Holders of a majority in principal amount of the Outstanding Securities of
  any series, determined as provided in Section 512, relating to the time,
  method and place of conducting any proceeding for any remedy available to the
  Trustee, or exercising any trust or power conferred upon the Trustee, under
  this Indenture with respect to the Securities of such series; and

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

  (d) Whether or not therein expressly so provided, 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.

SECTION 602. Notice of Defaults.

  Within 90 days after the occurrence of any default hereunder with respect to
the Securities of any series, the Trustee shall transmit by mail to all Holders
of Securities of such series, as their names and addresses appear in the
Security Register, notice of such default hereunder known to the Trustee, unless
such default shall have been cured or waived; provided, however, that, except in
the case of a default in the payment of the principal of (or premium, if any) or
interest on any Security of such series or in the payment of any sinking fund
instalment with respect to Securities of such series, the Trustee shall be
protected in withholding such notice if and so long as the board of directors,
the executive committee or a trust committee of directors or Responsible
Officers of the Trustee in good faith determine that the withholding of such
notice is in the interest of the Holders of Securities of such series; and
provided, further, that in the case of any default of the character specified in
Section 501(4) with respect to Securities of such series, no such notice to
Holders shall be given until at least 30 days after the occurrence thereof.  For
the purpose of this Section, the term "default" means any event which is, or
after notice or lapse of time or both would become, an Event of Default with
respect to Securities of such series.

SECTION 603. Certain Rights of Trustee.

     Subject to the provisions of Section 601:

       (a) the Trustee may rely and shall be protected in acting or refraining
     from acting upon any resolution, certificate, statement, instrument,
     opinion, report, notice, request, direction, consent, order,
<PAGE>

                                      27

  bond, debenture, note, other evidence of indebtedness or other paper or
  document believed by it to be genuine and to have been signed or presented
  by the proper party or parties;

     (b) any request or direction of the Company mentioned herein shall be
  sufficiently evidenced by a Company Request or Company Order and any
  resolution of the Board of Directors may be sufficiently evidenced by a Board
  Resolution;

     (c) whenever in the administration of this Indenture the Trustee shall deem
  it desirable that a matter be proved or established prior to taking, suffering
  or omitting any action hereunder, the Trustee (unless other evidence be herein
  specifically prescribed) may, in the absence of bad faith on its part, rely
  upon an Officers' Certificate;

     (d) the Trustee may consult with counsel and the written advice of such
  counsel or any Opinion of Counsel shall be full and complete authorization and
  protection in respect of any action taken, suffered or omitted by it hereunder
  in good faith and in reliance thereon;

     (e) 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 reasonable security or indemnity against the costs, expenses
  and liabilities which might be incurred by it in compliance with such request
  or direction;

     (f) the Trustee shall not be bound to make any investigation into the facts
  or matters stated in any resolution, certificate, statement, instrument,
  opinion, report, notice, request, direction, consent, order, bond, debenture,
  note, other evidence of indebtedness or other paper or document, but the
  Trustee, in its discretion, may make such further inquiry or investigation
  into such facts or matters as it may see fit, and, if the Trustee shall
  determine to make such further inquiry or investigation, it shall be entitled
  to examine the books, records and premises of the Company, personally or by
  agent or attorney; and

     (g) the Trustee may execute any of the trusts or powers hereunder or
  perform any duties hereunder either directly or by or through agents or
  attorneys and the Trustee shall not be responsible for any misconduct or
  negligence on the part of any agent or attorney appointed with due care by it
  hereunder.

SECTION 604. Not Responsible for Recitals or Issuance of Securities.

  The recitals contained herein and in the Securities, except the Trustee's
certificates of authentication, shall be taken as the statements of the Company,
and the Trustee or any Authenticating Agent assumes no responsibility for their
correctness.  The Trustee makes no representations as to the validity or
sufficiency of this Indenture or of the Securities.  The Trustee or any
Authenticating Agent shall not be accountable for the use or application by the
Company of Securities or the proceeds thereof.

SECTION 605. May Hold Securities.

  The Trustee, any Authenticating Agent, any Paying Agent, any Security
Registrar or any other agent of the Company, in its individual or any other
capacity, may become the owner or pledgee of Securities and, subject to Sections
608 and 613, may otherwise deal with the Company with the same rights it would
have if it were not Trustee, Authenticating Agent, Paying Agent, Security
Registrar or such other agent.

SECTION 606. Money Held in Trust.

  Money held by the Trustee in trust hereunder need not be segregated from other
funds except to the extent required by law.  The Trustee shall be under no
liability for interest on any money received by it hereunder except as otherwise
agreed with the Company.

SECTION 607. Compensation and Reimbursement.

     The Company agrees
<PAGE>

                                      28

      (1) to pay to the Trustee from time to time reasonable compensation for
  all services rendered by it hereunder (which compensation shall not be limited
  by any provision of law in regard to the compensation of a trustee of an
  express trust);

      (2) except as otherwise expressly provided herein, to reimburse the
  Trustee upon its request for all reasonable expenses, disbursement and
  advances incurred or made by the Trustee in accordance with any provision of
  this Indenture (including the reasonable compensation and the expenses and
  disbursements of its agents and counsel), except any such expense,
  disbursement or advance as may be attributable to its negligence or bad faith;
  and

      (3) to indemnify the Trustee for, and to hold it harmless against, any
  loss, liability or expense incurred without negligence or bad faith on its
  part, arising out of or in connection with the acceptance or administration of
  the trust or trusts hereunder, including the costs and expenses of defending
  itself against any claim or liability in connection with the exercise or
  performance of any of its powers or duties hereunder.

  As security for the performance of the obligations of the Company under this
Section, the Trustee shall have a lien prior to the Securities upon all property
and Funds held or collected by the Trustee as such, except Funds held in trust
for the benefit of the Holders of particular Securities.

SECTION 608. Disqualification: Conflicting Interests.

  (a) If the Trustee has or shall acquire any conflicting interest, as defined
in this Section, with respect to the Securities of any series, it shall, within
90 days after ascertaining that it has such conflicting interest, either
eliminate such conflicting interest or resign with respect to the Securities of
that series in the manner and with the effect hereinafter specified in this
Article.

  (b) In the event that the Trustee shall fail to comply with the provisions of
Subsection (a) of this Section with respect to the Securities of any series, the
Trustee shall, within 10 days after the expiration of such 90-day period,
transmit by mail to all Holders of Securities of that series, as their names and
addresses appear in the Security Register, notice of such failure.

  (c) For the purposes of this Section, the Trustee shall be deemed to have a
conflicting interest with respect to the Securities of that series if

      (1) the Trustee is trustee under this Indenture with respect to the
  Outstanding Securities of any series other than that series or is trustee
  under another indenture under which any other securities, or certificates of
  interest or participation in any other securities, of the Company are
  outstanding, unless such other indenture is a collateral trust indenture under
  which the only collateral consists of Securities issued under this Indenture,
  provided that there shall be excluded from the operation of this paragraph
  this Indenture with respect to the Securities of any series other than that
  series or any indenture or indentures under which other securities, or
  certificates of interest or participation in other securities, of the Company
  are outstanding, if

          (i) this Indenture and such other indenture or indentures are wholly
      unsecured and such other indenture or indentures are hereafter qualified
      under the Trust Indenture Act, unless the Commission shall have found and
      declared by order pursuant to Section 305(b) or Section 307(c) of the
      Trust Indenture Act that differences exist between the provisions of this
      Indenture with respect to Securities of that series and one or more other
      series or the provisions of such other indenture or indentures which are
      so likely to involve a material conflict of interest as to make it
      necessary in the public interest or for the protection of investors to
      disqualify the Trustee from acting as such under this Indenture with
      respect to the Securities of that series and such other series or under
      such other indenture or indentures, or

<PAGE>

                                      29

          (ii) the Company shall have sustained the burden of proving, on
      application to the Commission and after opportunity for hearing thereon,
      that trusteeship under this Indenture with respect to the Securities of
      that series and such other series or such other indenture or indentures is
      not so likely to involve a material conflict of interest as to make it
      necessary in the public interest or for the protection of investors to
      disqualify the Trustee from acting as such under this Indenture with
      respect to the Securities of that series and such other series or under
      such other indenture or indentures;

      (2) the Trustee or any of its directors or executive officers is an
  obligor upon the Securities or an underwriter for the Company;

      (3) the Trustee directly or indirectly controls or is directly or
  indirectly controlled by or is under direct or indirect common control with
  the Company or an underwriter for the Company;

      (4) the Trustee or any of its directors or executive officers is a
  director, officer, partner, employee, appointee or representative of the
  Company, or of an underwriter (other than the Trustee itself) for the Company
  who is currently engaged in the business of underwriting, except that (i) one
  individual may be a director or an executive officer, or both, of the Trustee
  and a director or an executive officer, or both, of the Company but may not be
  at the same time an executive officer of both the Trustee and the Company;
  (ii) if and so long as the number of directors of the Trustee in office is
  more than nine, one additional individual may be a director or an executive
  officer, or both, of the Trustee and a director of the Company; and (iii) the
  Trustee may be designated by the Company or by any underwriter for the Company
  to act in the capacity of transfer agent, registrar, custodian, paying agent,
  fiscal agent, escrow agent or depositary, or in any other similar capacity,
  or, subject to the provisions of paragraph (1) of this Subsection, to act as
  trustee, whether under an indenture or otherwise;

      (5) 10% or more of the voting securities of the Trustee is beneficially
  owned either by the Company or by any director, partner or executive officer
  thereof, or 20% or more of such voting securities is beneficially owned,
  collectively, by any two or more of such persons; or 10% or more of the voting
  securities of the Trustee is beneficially owned either by an underwriter for
  the Company or by any director, partner or executive officer thereof, or is
  beneficially owned, collectively, by any two or more such persons;

      (6) the Trustee is the beneficial owner of, or holds as collateral
  security for an obligation which is in default (as hereinafter in this
  Subsection defined), (i) 5% or more of the voting securities, or 10% or more
  of any other class of security, of the Company not including the Securities
  issued under this Indenture and securities issued under any other indenture
  under which the Trustee is also trustee, or (ii) 10% or more of any class of
  security of an underwriter for the Company;

      (7) the Trustee is the beneficial owner of, or holds as collateral
  security for an obligation which is in default (as hereinafter in this
  Subsection defined), 5% or more of the voting securities of any person who, to
  the knowledge of the Trustee, owns 10% or more of the voting securities of, or
  controls directly or indirectly or is under direct or indirect common control
  with, the Company;

      (8) the Trustee is the beneficial owner of, or holds as collateral
  security for an obligation which is in default (as hereinafter in this
  Subsection defined), 10% or more of any class of security of any person who,
  to the knowledge of the Trustee, owns 50% or more of the voting securities of
  the Company; or

      (9) the Trustee owns, on May 15 in any calendar year, in the capacity of
  executor, administrator, testamentary or inter vivos trustee, guardian,
  committee or conservator, or in any other similar capacity, an aggregate of
  25% or more of the voting securities, or of any class of security, of any
  person, the beneficial ownership of a specified percentage of which would have
  constituted a conflicting interest under paragraph (6), (7) or (8) of this
  Subsection. As to any such securities of which the Trustee acquired ownership
  through

<PAGE>

                                      30

  becoming executor, administrator or testamentary trustee of an estate which
  included them, the provisions of the preceding sentence shall not apply, for a
  period of two years from the date of such acquisition, to the extent that such
  securities included in such estate do not exceed 25% of such voting securities
  or 25% of any such class of security. Promptly after May 15 in each calendar
  year, the Trustee shall make a check of its holdings of such securities in any
  of the above-mentioned capacities as of such May 15. If the Company fails to
  make payment in full of the principal of (or premium, if any) or interest on
  any of the Securities when and as the same becomes due and payable, and such
  failure continues for 30 days thereafter, the Trustee shall make a prompt
  check of its holdings of such securities in any of the above-mentioned
  capacities as of the date of the expiration of such 30-day period, and after
  such date, notwithstanding the foregoing provisions of this paragraph, all
  such securities so held by the Trustee, with sole or joint control over such
  securities vested in it, shall, but only so long as such failure shall
  continue, be considered as though beneficially owned by the Trustee for the
  purposes of paragraphs (6), (7) and (8) of this Subsection.

  The specification of percentages in paragraphs (5) to (9), inclusive, of this
Subsection shall not be construed as indicating that the ownership of such
percentages of the securities of a person is or is not necessary or sufficient
to constitute direct or indirect control for the purposes of paragraph (3) or
(7) of this Subsection.

  For the purposes of paragraphs (6), (7), (8) and (9) of this Subsection only,
(i) the terms "security" and "securities" shall include only such securities as
are generally known as corporate securities, but shall not include any note or
other evidence of indebtedness issued to evidence an obligation to repay moneys
lent to a person by one or more banks, trust companies or banking firms, or any
certificate of interest or participation in any such note or evidence of
indebtedness; (ii) an obligation shall be deemed to be "in default" when a
default in payment of principal shall have continued for 30 days or more and
shall not have been cured; and (iii) the Trustee shall not be deemed to be the
owner or holder of (A) any security which it holds as collateral security, as
trustee or otherwise, for an obligation which is not in default as defined in
clause (ii) above, or (B) any security which it holds as collateral security
under this Indenture, irrespective of any default hereunder, or (C) any security
which it holds as agent for collection, or as custodian, escrow agent or
depositary, or in any similar representative capacity.

  (d) For the purposes of this Section:

      (1) The term "underwriter", when used with reference to the Company, means
  every person who, within three years prior to the time as of which the
  determination is made, has purchased from the Company with a view to, or has
  offered or sold for the Company in connection with, the distribution of any
  security of the Company outstanding at such time, or has participated or has
  had a direct or indirect participation in any such undertaking, or has
  participated or has had a participation in the direct or indirect underwriting
  of any such undertaking, but such term shall not include a person whose
  interest was limited to a commission from an underwriter or dealer not in
  excess of the usual and customary distributors' or sellers' commission.

      (2) The term "director" means any director of a corporation or any
  individual performing similar functions with respect to any organization,
  whether incorporated or unincorporated.

      (3) The term "person" means an individual, a corporation, a partnership,
  an association, a joint-stock company, a trust, an unincorporated organization
  or a government or political subdivision thereof. As used in this paragraph,
  the term "trust" shall include only a trust where the interest or interests of
  the beneficiary or beneficiaries are evidenced by a security.

      (4) The term "voting security" means any security presently entitling the
  owner or holder thereof to vote in the direction or management of the affairs
  of a person, or any security issued under or pursuant to any trust, agreement
  or arrangement whereby a trustee or trustees or agent or agents for the owner
  or holder of such security are presently entitled to vote in the direction or
  management of the affairs of a person.

<PAGE>

                                      31

      (5) The term "Company" means any obligor upon the Securities.

      (6) The term "executive officer" means the president, every vice
  president, every trust officer, the cashier, the secretary and the treasurer
  of a corporation, and any individual customarily performing similar functions
  with respect to any organization whether incorporated or unincorporated, but
  shall not include the chairman of the board of directors.

  (e) The percentages of voting securities and other securities specified in
this Section shall be calculated in accordance with the following provisions:

      (1) A specified percentage of the voting securities of the Trustee, the
  Company or any other person referred to in this Section (each of whom is
  referred to as a "person" in this paragraph) means such amount of the
  outstanding voting securities of such person as entitles the holder or holders
  thereof to cast such specified percentage of the aggregate votes which the
  holders of all the outstanding voting securities of such person are entitled
  to cast in the direction or management of the affairs of such person.

      (2) A specified percentage of a class of securities of a person means such
  percentage of the aggregate amount of securities of the class outstanding.

      (3) The term "amount", when used in regard to securities, means the
  principal amount if relating to evidences of indebtedness, the number of
  shares if relating to capital shares and the number of units if relating to
  any other kind of security.

      (4) The term "outstanding" means issued and not held by or for the account
  of the issuer. The following securities shall not be deemed outstanding within
  the meaning of this definition:

          (i) securities of an issuer held in a sinking fund relating to
      securities of the issuer of the same class;

          (ii) securities of an issuer held in a sinking fund relating to
      another class of securities of the issuer, if the obligation evidenced by
      such other class of securities is not in default as to principal or
      interest or otherwise;

          (iii) securities pledged by the issuer thereof as security for an
      obligation of the issuer not in default as to principal or interest or
      otherwise; and

          (iv) securities held in escrow if placed in escrow by the issuer
      thereof; provided, however, that any voting securities of an issuer shall
      be deemed outstanding if any person other than the issuer is entitled to
      exercise the voting rights thereof.

      (5) A security shall be deemed to be of the same class as another security
  if both securities confer upon the holder or holders thereof substantially the
  same rights and privileges; provided, however, that, in the case of secured
  evidences of indebtedness, all of which are issued under a single indenture,
  differences in the interest rates or maturity dates of various series thereof
  shall not be deemed sufficient to constitute such series different classes and
  provided, further, that, in the case of unsecured evidences of indebtedness,
  differences in the interest rates or maturity dates thereof shall not be
  deemed sufficient to constitute them securities of different classes, whether
  or not they are issued under a single indenture.

SECTION 609. Corporate Trustee Required; Eligibility.

  There shall at all times be a Trustee hereunder which shall be a corporation
organized and doing business under the laws of the United States of America, any
State thereof or the District of Columbia, authorized under such laws to
exercise corporate trust powers, having a combined capital and surplus of at
least $50,000,000 subject to supervision or examination by Federal or State
authority. If such corporation publishes reports of
<PAGE>

                                      32

condition at least annually, pursuant to law or to the requirements of said
supervising or examining authority, then for the purposes of this Section, the
combined capital and surplus of such corporation shall be deemed to be its
combined capital and surplus as set forth in its most recent report of condition
so published. If at any time the Trustee shall cease to be eligible in
accordance with the provisions of this Section, it shall resign immediately in
the manner and with the effect hereinafter specified in this Article.

SECTION 610. Resignation and Removal; Appointment of Successor.

  (a) No resignation or removal of the Trustee and no appointment of a successor
Trustee pursuant to this Article shall become effective until the acceptance of
appointment by the successor Trustee in accordance with the applicable
requirements of Section 611.

  (b) The Trustee may resign at any time with respect to the Securities of one
or more series by giving written notice thereof to the Company. If the
instrument of acceptance by a successor Trustee required by Section 611 shall
not have been delivered to the Trustee within 30 days after the giving of such
notice of resignation, the resigning Trustee may petition any court of competent
jurisdiction for the appointment of a successor Trustee with respect to the
Securities of such series.

  (c) The Trustee may be removed at any time with respect to the Securities of
any series by Act of the Holders of a majority in principal amount of the
Outstanding Securities of such series, delivered to the Trustee and to the
Company.

  (d) If at any time:

      (1) the Trustee shall fail to comply with Section 608(a) after written
  request therefor by the Company or by any Holder who has been a bona fide
  Holder of a Security for at least six months, or

      (2) the Trustee shall cease to be eligible under Section 609 and shall
  fail to resign after written request therefor by the Company or by any such
  Holder, or

      (3) the Trustee shall become incapable of acting or shall be adjudged a
  bankrupt or insolvent or a receiver of the Trustee or of its property shall be
  appointed or any public officer shall take charge or control of the Trustee or
  of its property or affairs for the purpose of rehabilitation, conservation or
  liquidation,

then, in any such case, (i) the Company, by a Board Resolution, may remove the
Trustee with respect to all Securities, or (ii) subject to Section 514, any
Holder who has been a bona fide Holder of a Security for at least six months
may, on behalf of himself and all others similarly situated, petition any court
of competent jurisdiction for the removal of the Trustee with respect to all
Securities and the appointment of a successor Trustee or Trustees.

  (e) If the Trustee shall resign, be removed or become incapable of acting, or
if a vacancy shall occur in the office of Trustee for any cause, with respect to
the Securities of one or more series, the Company, by a Board Resolution, shall
promptly appoint a successor Trustee or Trustees with respect to the Securities
of that or those series (it being understood that any such successor Trustee may
be appointed with respect to the Securities of one or more or all of such series
and that at any time there shall be only one Trustee with respect to the
Securities of any particular series) and shall comply with the applicable
requirements of Section 611. If, within one year after such resignation, removal
or incapability, or the occurrence of such vacancy, a successor Trustee with
respect to the Securities of any series shall be appointed by Act of the Holders
of a majority in principal amount of the Outstanding Securities of such series
delivered to the Company and the retiring Trustee, the successor Trustee so
appointed shall, forthwith upon its acceptance of such appointment in accordance
with the applicable requirements of Section 611, become the successor Trustee
with respect to the securities of such series and to the extent supersede the
successor Trustee appointed by the Company. If no successor Trustee with respect
to the securities of any series shall have been so appointed by the Company or
the Holders and accepted appointment in the manner required by Section 611, any
Holder who has been a bona fide Holder of a Security of such series for at least
six months may, on behalf of himself and all others similarly situated, petition

<PAGE>

                                      33

any court of competent jurisdiction for the appointment of a successor Trustee
with respect to the Securities of such series.

  (f) The Company shall give notice of each resignation and each removal of the
Trustee with respect to the Securities of any series and each appointment of a
successor Trustee with respect to the Securities of any series by mailing
written notice of such event by first-class mail, postage prepaid, to all
Holders of Securities of such series as their names and addresses appear in the
Security Register. Each notice shall include the name of the successor Trustee
with respect to the Securities of such series and the address of its Corporate
Trust Office.

SECTION 611. Acceptance of Appointment by Successor.

  (a) In case of the appointment hereunder of a successor Trustee with respect
to all Securities, every such successor Trustee so appointed shall execute,
acknowledge and deliver to the Company and to the retiring Trustee an instrument
accepting such appointment, and thereupon the resignation or removal of the
retiring Trustee shall become effective and such successor Trustee, without any
further act, deed or conveyance, shall become vested with all the rights,
powers, trusts and duties of the retiring Trustee; but, on the request of the
Company or the successor Trustee, such retiring Trustee shall, upon payment of
its charges, execute and deliver an instrument transferring to such successor
Trustee all the rights, powers and trusts of the retiring Trustee and shall duly
assign, transfer and deliver to such successor Trustee all property and money
held by such retiring Trustee hereunder.

  (b) In case of the appointment hereunder or a successor Trustee with respect
to the Securities of one or more (but not all) series, the Company, the retiring
Trustee and each successor Trustee with respect to the Securities of one or more
series shall execute and deliver an indenture supple-mental hereto wherein each
successor Trustee shall accept such appointment and which (1) shall contain such
provisions as shall be necessary or desirable to transfer and confirm to, and to
vest in, each successor Trustee all the rights, powers, trusts and duties of the
retiring Trustee with respect to the Securities of that or those series to which
the appointment of such successor Trustee relates, (2) if the retiring Trustee
is not retiring with respect to all Securities, shall contain such provisions as
shall be deemed necessary or desirable to confirm that all the rights, powers,
trusts and duties of the retiring Trustee with respect to the Securities of that
or those series as to which the retiring Trustee is not retiring shall continue
to be vested in the retiring Trustee, and (3) shall add to or change any of the
provisions of this Indenture as shall be necessary to provide for or facilitate
the administration of the trusts hereunder by more than one Trustee, it being
understood that nothing herein or in such supplemental indenture shall
constitute such Trustees co-trustees of the same trust and that each such
Trustee shall be trustee of a trust or trusts hereunder separate and apart from
any trust or trusts hereunder administered by any other such Trustee; and upon
the execution and delivery of such supplemental indenture the resignation or
removal of the retiring Trustee shall become effective to the extent provided
therein and each such successor Trustee, without any further act, deed or
conveyance, shall become vested with all the rights, powers, trusts and duties
of the retiring Trustee with respect to the Securities of that or those series
to which the appointment of such successor Trustee relates; but, on request of
the Company or any successor Trustee, such retiring Trustee shall duly assign,
transfer and deliver to such successor Trustee all property and money held by
such retiring Trustee hereunder with respect to the Securities of that or those
series to which the appointment of such successor Trustee relates. Whenever
there is a successor Trustee with respect to one or more (but less than all)
series or Securities issued pursuant to this instrument, the terms "Indenture"
and "Securities" shall have the meanings specified in the provisos to the
respective definitions of those terms in Section 101 which contemplate such
situation.

  (c) Upon request of any such successor Trustee, the Company shall execute any
and all instruments for more fully and certainly vesting in and confirming to
such successor Trustee all such rights, powers and trusts referred to in
paragraph (a) or (b) of this Section, as the case may be.

<PAGE>

                                      34

  (d) No successor Trustee shall accept its appointment unless at the time of
such acceptance such successor Trustee shall be qualified and eligible under
this Article.

SECTION 612. Merger, Conversion, Consolidation or Succession to Business.

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

SECTION 613. Preferential Collection of Claims Against Company.

  (a) Subject to Subsection (b) of this Section, if the Trustee shall be or
shall become a creditor, directly or indirectly, secured or unsecured, of the
Company within four months prior to a default, as defined in Subsection (c) of
this Section, or subsequent to such a default, then, unless and until such
default shall be cured, the Trustee shall set apart and hold in a special
account for the benefit of the Trustee individually, the Holders of the
Securities and the holders of other indenture securities, as defined in
Subsection (c) of this Section:

     (1) an amount equal to any and all reductions in the amount due and owing
  upon any claim as such creditor in respect of principal or interest, effected
  after the beginning of such four months' period and valid as against the
  Company and its other creditors, except any such reduction resulting from the
  receipt or disposition of any property described in paragraph (2) of this
  Subsection, or from the exercise of any right of set-off which the Trustee
  could have exercised if a petition in bankruptcy had been filed by or against
  the Company upon the date of such default; and

     (2) all property received by the Trustee in respect of any claims as such
  creditor, either as security therefor, or in satisfaction or composition
  thereof, or otherwise, after the beginning of such four months' period, or an
  amount equal to the proceeds of any such property, if disposed of, subject,
  however, to the rights, if any, of the Company and its other creditors in such
  property or such proceeds.

Nothing herein contained, however, shall affect the right of the Trustee:

     (A) to retain for its own account (i) payments made on account of any such
  claim by any Person (other than the Company) who is liable thereon, and (ii)
  the proceeds of the bona fide sale of any such claim by the Trustee to a third
  Person, and (iii) distributions made in cash, securities or other property in
  respect of claims filed against the Company in bankruptcy or receivership or
  in proceedings for reorganization pursuant to the Federal Bankruptcy Act or
  applicable State law;

     (B) to realize, for its own account, upon any property held by it as
  security for any such claim, if such property was so held prior to the
  beginning of such four months' period;

     (C) to realize, for its own account, but only to the extent of the claim
  hereinafter mentioned, upon any property held by it as security for any such
  claim, if such claim was created after the beginning of such four months'
  period and such property was received as security therefor simultaneously with
  the creation thereof, and if the Trustee shall sustain the burden of proving
  that at the time such property was so received the Trustee had no reasonable
  cause to believe that a default, as defined in Subsection (c) of this Section,
  would occur within four months; or
<PAGE>

                                      35

      (D) to receive payment on any claim referred to in paragraph (B) or (C),
  against the release of any property held as security for such claim as
  provided in paragraph (B) or (C), as the case may be, to the extent of the
  fair value of such property.

  For the purposes of paragraphs (B), (C) and (D), property substituted after
the beginning of such four months' period for property held as security at the
time of such substitution shall, to the extent of the fair value of the property
released, have the same status as the property released, and, to the extent that
any claim referred to in any of such paragraphs is created in renewal of or in
substitution for or for the purpose of repaying or refunding any pre-existing
claim of the Trustee as such creditor, such claim shall have the same status as
such pre-existing claim.

If the Trustee shall be required to account, the funds and property held in such
special account and the proceeds thereof shall be apportioned among the Trustee,
the Holders and the holders of other indenture securities in such manner that
the Trustee, the Holders and the holders of other indenture securities realize,
as a result of payments from such special account and payments of dividends on
claims filed against the Company in  bankruptcy or receivership or in
proceedings for reorganization pursuant to the Federal Bankruptcy Act or
applicable State law, the same percentage of their respective claims, figured
before crediting to the claim of the Trustee anything on account of the receipt
by it from the Company of the funds and property in such special account and
before crediting to the respective claims of the Trustee and the Holders and the
holders of other indenture securities dividends on claims filed against the
Company in bankruptcy or receivership or in proceedings for reorganization
pursuant to the Federal Bankruptcy Act or applicable State law, but after
crediting thereon receipts on account of the indebtedness represented by their
respective claims from all sources other than from such dividends and from the
funds and property so held in such special account.  As used in this paragraph,
with respect to any claim, the term "dividends" shall include any distribution
with respect to such claim, in bankruptcy or receivership or proceedings for
reorganization pursuant to the Federal Bankruptcy Act or applicable State law,
whether such distribution is made in cash, securities or other property, but
shall not include any such distribution with respect to the secured portion, if
any, of such claim. The court in which such bankruptcy, receivership or
proceedings for reorganization is pending shall have jurisdiction (i) to
apportion among the Trustee, the Holders and the holders of other indenture
securities, in accordance with the provisions of this paragraph, the funds and
property held in such special account and proceeds thereof, or (ii) in lieu of
such apportionment, in whole or in part, to give to the provisions of this
paragraph due consideration in determining the fairness of the distributions to
be made to the Trustee and the Holders and the holders of other indenture
securities with respect to their respective claims, in which event it shall not
be necessary to liquidate or to appraise the value of any securities or other
property held in such special account or as security for any such claim, or to
make a specific allocation of such distributions as between the secured and
unsecured portions of such claims, or otherwise to apply the provisions of this
paragraph as a mathematical formula.

  Any Trustee which has resigned or been removed after the beginning of such
four months' period shall be subject to the provisions of this Subsection as
though such resignation or removal had not occurred.  If any Trustee has
resigned or been removed prior to the beginning of such four months' period, it
shall be subject to the provisions of this Subsection if and only if the
following conditions exist:

     (i) the receipt of property or reduction of claim, which would have given
  rise to the obligation to account, if such Trustee had continued as Trustee,
  occurred after the beginning of such four months' period; and

     (ii) such receipt of property or reduction of claim occurred within four
  months after such resignation or removal.

  (b) There shall be excluded from the operation of Subsection (a) of this
Section a creditor relationship arising from:
<PAGE>

                                      36

       (1) the ownership or acquisition of securities issued under any
     indenture, or any security or securities having a maturity of one year or
     more at the time of acquisition by the Trustee;

       (2) advances authorized by a receivership or bankruptcy court of
     competent jurisdiction or by this Indenture, for the purpose of preserving
     any property which shall at any time be subject to the lien of this
     Indenture or of discharging tax liens or other prior liens or encumbrances
     thereon, if notice of such advances and of the circumstances surrounding
     the making thereof is given to the Holders at the time and in the manner
     provided in this Indenture;

       (3) disbursements made in the ordinary course of business in the capacity
     of trustee under an indenture, transfer agent, registrar, custodian, paying
     agent, fiscal agent or depositary, or other similar capacity;

       (4) an indebtedness created as a result of services rendered or premises
     rented; or an indebtedness created as a result of goods or securities sold
     in a cash transaction, as defined in Subsection (c) of this Section;

       (5) the ownership of stock or of other securities of a corporation
     organization under the provisions of Section 25(a) of the Federal Reserve
     Act, as amended, which is directly or indirectly a creditor of the Company;
     and

       (6) the acquisition, ownership, acceptance or negotiation of any drafts,
     bills of exchange, acceptances or obligations which fall within the
     classification of self-liquidating paper, as defined in Subsection (c) of
     this Section.

     (c) For the purposes of this Section only:

       (1) the term "default" means any failure to make payment in full of the
     principal of or interest on any of the Securities or upon the other
     indenture securities when and as such principal or interest becomes due and
     payable;

       (2) the term "other indenture securities" means securities upon which the
     Company is an obligor outstanding under any other indenture (i) under which
     the Trustee is also trustee, (ii) which contains provisions substantially
     similar to the provisions of this Section, and (iii) under which a default
     exists at the time of the apportionment of the funds and property held in
     such special account;

       (3) the term "cash transaction" means any transaction in which full
     payment for goods or securities sold is made within seven days after
     delivery of the goods or securities in currency or in checks or other
     orders drawn upon banks or bankers and payable upon demand;

       (4) the term "self-liquidating paper" means any draft, bill of exchange,
     acceptance or obligation which is made, drawn, negotiated or incurred by
     the Company for the purpose of financing the purchase, processing,
     manufacturing, shipment, storage or sale of goods, wares or merchandise and
     which is secured by documents evidencing title to, possession of, or a lien
     upon, the goods, wares or merchandise or the receivables or proceeds
     arising from the sale of the goods, wares or merchandise previously
     constituting the security, provided the security is received by the Trustee
     simultaneously with the creation of the creditor relationship with the
     Company arising from the making, drawing, negotiating or incurring of the
     draft, bill of exchange, acceptance or obligation;

       (5) the term "Company" means any obligor upon the Securities; and

       (6) the term "Federal Bankruptcy Act" means the Bankruptcy Act or Title
     II of the United States Code.

SECTION 614. Appointment of Authenticating Agent.

  At any time when any of the Securities remain Outstanding the Trustee may
appoint an Authenticating Agent or Agents with respect to one or more series of
Securities which shall be authorized to act on behalf of the Trustee to
authenticate Securities of such series issued upon exchange, registration of
transfer or partial
<PAGE>

                                      37

redemption thereof or pursuant to Section 306, and Securities so authenticated
shall be entitled to the benefits of this Indenture and shall be valid and
obligatory for all purposes as if authenticated by the Trustee hereunder.
Wherever reference is made in this Indenture to the authentication and delivery
of Securities by the Trustee or the Trustee's certificate of authentication,
such reference shall be deemed to include authentication and delivery on behalf
of the Trustee by an Authenticating Agent and a certificate of authentication
executed on behalf of the Trustee by an Authenticating Agent. Each
Authenticating Agent shall be acceptable to the Company and shall at all times
be a corporation organized and doing business under the laws of the United
States of America, any State thereof or the District of Columbia, authorized
under such laws to act as Authenticating Agent, having a combined capital and
surplus of not less than $50,000,000 and subject to supervision or examination
by Federal or State authority. If such Authenticating Agent publishes reports of
condition at least annually, pursuant to law or to the requirements of said
supervising or examining authority. then for the purposes of this Section, the
combined capital and surplus of such Authenticating Agent shall be deemed to be
its combined capital and surplus as set forth in its most recent report of
condition so published. If at any time an Authenticating Agent shall cease to be
eligible in accordance with the provisions of this Section, such Authenticating
Agent shall resign immediately in the manner and with the effect specified in
this Section.

  Any corporation into which an Authenticating Agent may be merged or converted
or with which it may be consolidated, or any corporation resulting from any
merger, conversion or consolidation to which such Authenticating Agent shall be
a party, or any corporation succeeding to the corporate agency or corporate
trust business of an Authenticating Agent, shall continue to be an
Authenticating Agent, provided such corporation shall be otherwise eligible
under this Section, without the execution or filing of any paper or any further
act on the part of the Trustee or the Authenticating Agent.

  An Authenticating Agent may resign at any time by giving written notice
thereof to the Trustee and to the Company. The Trustee may at any time terminate
the agency of an Authenticating Agent by giving written notice thereof to such
Authenticating Agent and to the Company. Upon receiving such a notice of
resignation or upon such a termination, or in case at any time such
Authenticating Agent shall cease to be eligible in accordance with the
provisions of this Section, the Trustee may appoint a successor Authenticating
Agent which shall be acceptable to the Company and shall mail written notice of
such appointment by first-class mail, postage prepaid, to all Holders of
Securities of the series with respect to which such Authenticating Agent will
serve, as their names and addresses appear in the Security Register.  Any
successor Authenticating Agent upon acceptance of its appointment hereunder
shall become vested with all the rights, powers and duties of its predecessor
hereunder, with like effect as if originally named as an Authenticating Agent.
No successor Authenticating Agent shall be appointed unless eligible under the
provisions of this Section.

  The Trustee agrees to pay to each Authenticating Agent from time to time
reasonable compensation for its services under this Section, and the Trustee
shall be entitled to be reimbursed for such payments, subject to the provisions
of Section 607.

  If an appointment with respect to one or more series is made pursuant to this
Section, the Securities of such series may have endorsed thereon, in addition to
the Trustee's certificate of authentication, an alternate certificate of
authentication in the following form:

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

                                THE CHASE MANHATTAN BANK
                                 (NATIONAL ASSOCIATION),
                                        As Trustee

                         By: _____________________________________
                                    As Authenticating Agent

                         By: _____________________________________
                                      Authorized Officer
<PAGE>

                                      38

                                 ARTICLE SEVEN
               HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY

SECTION 701. Company to Furnish Trustee Names and Addresses of Holders.

     The Company will furnish or cause to be furnished to the Trustee

       (a) semi-annually, not later than March 15 and September 15 in each year,
     a list, in such form as the Trustee may reasonably require, of the names
     and addresses of the Holders as of the preceding March 1 or September 1, as
     the case may be, and

       (b) at such other times as the Trustee may request in writing, within 30
     days after the receipt by the Company of any such request, a list of
     similar form and content as of a date not more than 15 days prior to the
     time such list is furnished;

excluding from any such list names and addresses received by the Trustee in its
capacity as Security Registrar.

SECTION 702. Preservation of Information: Communications to Holders.

  (a) The Trustee shall preserve, in as current a form as is reasonably
practicable, the names and addresses of Holders contained in the most recent
list furnished to the Trustee as provided in Section 701 and the names and
addresses of Holders received by the Trustee in its capacity as Security
Registrar.  The Trustee may destroy any list furnished to it as provided in
Section 701 upon receipt of a new list so furnished.

  (b) If three or more Holders of Securities of any series (herein referred to
as "applicants") apply in writing to the Trustee, and furnish to the Trustee
reasonable proof that each such applicant has owned a Security for a period of
at least six months preceding the date of such application, and such application
states that the applicants desire to communicate with other Holders of
Securities of the same series with respect to their rights under this Indenture
or under the Securities of such series and is accompanied by a copy of the form
of proxy or other communication which such applicants propose to transmit, then
the Trustee shall, within five business days after the receipt of such
application, at its election, either

     (i) afford such applicants access to the information preserved at the time
  by the Trustee in accordance with Section 702(a), or

     (ii) inform such applicants as to the approximate number of Holders whose
  names and addresses appear in the information preserved at the time by the
  Trustee in accordance with Section 702(a), and as to the approximate cost of
  mailing to such Holders the form of proxy or other communication, if any,
  specified in such application.

  If the Trustee shall elect not to afford such applicants access to such
information, the Trustee shall, upon the written request of such applicants,
mail to each Holder of Securities of such series whose name and address appear
in the information preserved at the time by the Trustee in accordance with
Section 702(a) a copy of the form of proxy or other communication which is
specified in such request, with reasonable promptness after a tender to the
Trustee of the material to be mailed and of payment, or provision for the
payment, of the reasonable expenses of mailing, unless within five days after
such tender the Trustee shall mail to such applicants and file with the
Commission, together with a copy of the material to be mailed, a written
statement to the effect that, in the opinion of the Trustee, such mailing would
be contrary to the best interest of such
<PAGE>

                                      39

Holders or would be in violation of applicable law. Such written statement shall
specify the basis of such opinion. If the Commission, after opportunity for a
hearing upon the objections specified in the written statement so filed, shall
enter an order refusing to sustain any of such objections or if, after the entry
of an order sustaining one or more of such objections, the Commission shall
find, after notice and opportunity for hearing, that all the objections so
sustained have been met and shall enter an order so declaring, the Trustee shall
mail copies of such material to all such Holders with reasonable promptness
after the entry of such order and the renewal of such tender; otherwise the
Trustee shall be relieved of any obligation or duty to such applicants
respecting their application.

  (c) Every Holder of Securities, by receiving and holding the same, agrees with
the Company and the Trustee that neither the Company nor the Trustee nor any
agent of either of them shall be held accountable by reason of the disclosure of
any such information as to the names and addresses of the Holders in accordance
with Section 702(b), regardless of the source from which such information was
derived, and that the Trustee shall not be held accountable by reason of mailing
any material pursuant to a request made under Section 702(b).

SECTION 703. Reports by Trustee.

  (a) Within 60 days after January 1 of each year commencing with the year 1984,
the Trustee shall transmit by mail to all Holders, as their names and addresses
appear in the Security Register, a brief report dated as of such January 1 with
respect to:

       (1) its eligibility under Section 609 and its qualifications under
     Section 608, or in lieu thereof, if to the best of its knowledge it has
     continued to be eligible and qualified under said Sections, a written
     statement to such effect;

       (2) the character and amount of any advances (and if the Trustee elects
     so to state, the circumstances surrounding the making thereof) made by the
     Trustee (as such) which remain unpaid on the date of such report, and for
     the reimbursement of which it claims or may claim a lien or charge, prior
     to that of the Securities, on any property or funds held or collected by it
     as Trustee, except that the Trustee shall not be required (but may elect)
     to report such advances if such advances so remaining unpaid aggregate not
     more than 1/2 of 1% of the principal amount of the Securities Outstanding
     on the date of such report;

       (3) the amount, interest rate and maturity date of all other indebtedness
     owing by the Company (or by any other obligor on the Securities) to the
     Trustee in its individual capacity, on the date of such report, with a
     brief description of any property held as collateral security therefor,
     except an indebtedness based upon a creditor relationship arising in any
     manner described in Section 613(b)(2), (3), (4) or (6);

       (4) the property and funds, if any, physically in the possession of the
     Trustee as such on the date of such report;

       (5) any additional issue of Securities which the Trustee has not
     previously reported; and

       (6) any action taken by the Trustee in the performance of its duties
     hereunder which it has not previously reported and which in its opinion
     materially affects the Securities, except action in respect of a default,
     notice of which has been or is to be withheld by the Trustee in accordance
     with Section 602.

  (b) The Trustee shall transmit by mail to all Holders, as their names and
addresses appear in the Security Register, a brief report with respect to the
character and amount of any advances (and if the Trustee elects so to state, the
circumstances surrounding the making thereof) made by the Trustee (as such)
since the date of the last report transmitted pursuant to Subsection (a) of this
Section (or if no such report has yet been so transmitted,
<PAGE>

                                      40

since the date of execution of this instrument) for the reimbursement of which
it claim or may claim a lien or charge, prior to that of the Securities, on
property or funds held or collected by it as Trustee and which it has not
previously reported pursuant to this Subsection, except that the Trustee shall
not be required (but may elect) to report such advances if such advances
remaining unpaid at any time aggregate 10% or less of the principal amount of
the Securities Outstanding at such time, such report to be transmitted within 90
days after such time.

  (c) A copy of each such report shall, at the time of such transmission to
Holders, be filed by the Trustee with each stock exchange upon which any
Securities are listed, with the Commission and with the Company. The Company
will notify the Trustee when any Securities are listed on any stock exchange.

SECTION 704. Reports by Company.

  The Company shall:

     (1) file with the Trustee, within 15 days after the Company is required to
  file the same with the Commission, copies of the annual reports and of the
  information, documents and other reports (or copies of such portions of any of
  the foregoing as the Commission may from time to time by rules and regulations
  prescribe) which the Company may be required to file with the Commission
  pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of
  1934; or, if the Company is not required to file information, documents or
  reports pursuant to either of said Sections, then it shall file with the
  Trustee and the Commission, in accordance with rules and regulations
  prescribed from time to time by the Commission, such of the supplementary and
  periodic information, documents and reports which may be required pursuant to
  Section 13 of the Securities Exchange Act of 1934 in respect of a security
  listed and registered on a national securities exchange as may be prescribed
  from time to time in such rules and regulations;

     (2) file with the Trustee and the Commission, in accordance with rules and
  regulations prescribed from time to time by the Commission, such additional
  information, documents and reports with respect to compliance by the Company
  with the conditions and covenants of this Indenture as may be required from
  time to time by such rules and regulations; and

     (3) transmit by mail to all Holders, as their names and addresses appear in
  the Security Register, within 30 days after the filing thereof with the
  Trustee, such summaries of any information, documents and reports required to
  be filed by the Company pursuant to paragraphs (1) and (2) of this Section as
  may be required by rules and regulations prescribed from time to time by the
  Commission.

                                 ARTICLE EIGHT
              CONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASE.

SECTION 801. Company May Consolidate, Etc., on Certain Terms.

  Subject to the provisions of Section 802, nothing contained in this Indenture
shall prevent any consolidation or merger of the Company with or into any other
corporation or corporations (whether or not affiliated with the Company), or
successive consolidations or mergers in which the Company or its successor or
successors shall be a party or parties, or shall prevent any sale, conveyance or
lease of all or substantially all the property of the Company, to any other
corporation (whether or not affiliated with the Company) authorized to acquire
and operate the same: provided, and the Company, hereby covenants and agrees,
that, if the surviving corporation is other than the Company, upon any such
consolidation, merger, sale, conveyance or lease, the due and punctual payment
of the principal of and interest on all of the Securities, according to their
tenor, and the due and punctual performance and observance of all of the
covenants and conditions of this Indenture to be performed by the Company, shall
be expressly assumed by supplemental indenture satisfactory in form to the
Trustee, executed and delivered to the Trustee by the corporation formed by such
consolidation, or into which the Company shall have been merged, or by the
corporation which shall have acquired or leased such property.
<PAGE>

                                      41

SECTION 802. Securities to be Secured in Certain Events.

  If, upon any consolidation, merger, sale, conveyance of lease referred to in
Section 801, any Principal Property of the Company or of any Restricted
Subsidiary or any shares of stock or indebtedness of any Restricted Subsidiary
owned immediately prior thereto would thereupon become subject to any mortgage,
security interest, pledge, lien or encumbrance, other than liens permitted under
Section 1004 or Section 1006, without securing the Securities, the Company,
prior to such consolidation, merger, sale, conveyance or lease, will by
indenture supplemental hereto secure the due and punctual payment of the
principal of and interest on the Securities (equally and ratably with any other
indebtedness of the Company then, or as a result thereof to be, secured thereby)
by a direct lien on such Principal Property, shares of stock or indebtedness,
prior to all liens other than any then existing thereon and liens so permitted
by Section 1004 or Section 1006.

SECTION 803. Successor Corporation to be Substituted.

  In case of any such consolidation, merger, sale, conveyance or lease and upon
the assumption by the successor corporation, by supplemental indenture, executed
and delivered to the Trustee and satisfactory in form to the Trustee, of the due
and punctual payment of the principal of and interest on all of the Securities
and the due and punctual performance of all of the covenants and conditions of
this Indenture to be performed by the Company, such successor corporation shall
succeed to and be substituted for the Company, with the same effect as if it had
been named herein as the party of the first part.  Such successor corporation
thereupon may cause to be signed and may issue either in its own name or in the
name of Georgia-Pacific Corporation any or all of the Securities issuable
hereunder which theretofore shall not have been signed by the Company and
delivered to the Trustee; and, upon the order of such successor corporation
instead of the Company and subject to all the terms, conditions and limitations
in this Indenture prescribed, the Trustee, or an Authenticating Agent on behalf
of the Trustee, shall authenticate and shall deliver any Securities which
previously shall have been signed and delivered by the officers of the Company
to the Trustee for authentication, and any Securities which such successor
corporation thereafter shall cause to be signed and delivered to the Trustee for
that purpose. All the Securities so issued shall in all respects have the same
legal rank and benefit under this Indenture as the Securities theretofore or
thereafter issued in accordance with the terms of this Indenture as though all
of such Securities had been issued at the date of the execution hereof.

  In case of any such consolidation, merger, sale, conveyance or lease, such
changes in phraseology and form (but not in substance) may be made in the
Securities thereafter to be issued as may be appropriate.

SECTION 804. Opinion of Counsel to be Given Trustee.

  The Trustee shall be entitled to receive, and subject to Sections 601 and 603,
shall be fully protected in relying upon an Opinion of Counsel as conclusive
evidence that any such consolidation, merger, sale, conveyance or lease and any
such assumption complies with the provisions of this Article Eight.

                                 ARTICLE NINE
                            SUPPLEMENTAL INDENTURES

  SECTION 901. Supplemental Indentures without Consent of Holders.

  Without the consent of any Holders, the Company, when authorized by a Board
Resolution, and the Trustee, at any time and from time to time, may enter into
one or more indentures supplemental hereto, in form satisfactory to the Trustee.
for any of the following purposes:
<PAGE>

                                      42

       (1) to evidence the succession of another corporation to the Company and
     the assumption by any such successor of the covenants of the Company herein
     and in the Securities; or

       (2) to add to the covenants of the Company for the benefit of the Holders
     of all or any series of Securities (and if such covenants are to be for the
     benefit of less than all series of Securities, stating that such covenants
     are expressly being included solely for the benefit of such series) or to
     surrender any right or power herein conferred upon the Company, provided
     that in respect of any such additional covenant, restriction or condition,
     such supplemental indenture may provide for a particular period of grace
     after default (which period may be shorter or longer than that allowed in
     the case of other defaults) or may provide for an immediate enforcement
     upon such default or may limit the remedies available to the Trustee upon
     such default; or

       (3) to add any additional Events of Default (and if such Events of
     Default are to be for the benefit of less than all series of Securities,
     stating that such Events of Default are being included solely for the
     benefit of such series); or

       (4) to add to or change any of the provisions of this Indenture to such
     extent as shall be necessary to permit or facilitate the issuance of
     Securities in bearer form, registrable or not registrable as to principal,
     and with or without interest coupons; or

       (5) to change or eliminate any of the provisions of this Indenture,
     provided that any such change or elimination shall become effective only
     when there is no Security Outstanding of any series created prior to the
     execution of such supplemental indenture which is entitled to the benefit
     of such provision; or

       (6) to secure the Securities pursuant to the requirements of Section 802
     or Section 1004 or otherwise; or

       (7) to establish the form or terms of Securities of any series as
     permitted by Sections 201 and 301; or

       (8) to evidence and provide for the acceptance of appointment hereunder
     by a successor Trustee with respect to the Securities of one or more series
     and to add to or change any of the provisions of this Indenture as shall be
     necessary to provide for or facilitate the administration of the trusts
     hereunder by more than one Trustee, pursuant to the requirements of Section
     611(b); or

       (9) to cure any ambiguity, to correct or supplement any provision herein
     which may be inconsistent with any other provision herein, or to make any
     other provisions with respect to matters or questions arising under this
     Indenture, provided such action shall not adversely affect the interests of
     the Holders of Securities of any series in any material respect.

SECTION 902. Supplemental Indentures with Consent of Holders.

  With the consent of the Holders of not less than 66 2/3% in principal amount
of the Outstanding Securities of each series affected by such supplemental
indenture, by Act of said Holders delivered to the Company and the Trustee, the
Company, when authorized by a Board Resolution, and the Trustee may enter into
an indenture or indentures supplemental hereto for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of
this Indenture or of modifying in any manner the rights of the Holders of
Securities of such series under this Indenture; provided, however, that no such
supplemental indenture shall, without the consent of the Holder of each
Outstanding Security affected thereby,

       (1) change the Stated Maturity of the principal of, or any installment of
     principal of or interest on, any Security, or reduce the principal amount
     thereof or the rate of interest thereon or any premium payable upon the
     redemption thereof, or reduce the amount of the principal of an Original
     Issue Discount Security that would be due and payable upon a declaration of
     acceleration of the Maturity thereof pursuant to Section 502, or change any
     Place of Payment where, or the coin or currency in which, any Security 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
     Stated Maturity thereof (or, in the case of redemption, on or after the
     Redemption Date), or
<PAGE>

                                      43

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

       (3) modify any of the provisions of this Section, Section 513 or Section
     1008, 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 Security affected thereby,
     provided, however, that this clause shall not be deemed to require the
     consent of any Holder with respect to changes in the references to "the
     Trustee" and concomitant changes in this Section and Section 1008, or the
     deletion of this proviso, in accordance with the requirements of Sections
     61l(b) and 901(8).

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

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

SECTION 903.  Execution of Supplemental Indentures.

  In executing, or accepting the additional trusts created by, any supplemental
indenture permitted by this Article or the modifications thereby of the trusts
created by this Indenture, the Trustee shall be entitled to receive, and
(subject to Section 601) shall be fully protected in relying upon, an Opinion of
Counsel stating that the execution of such supplemental indenture is authorized
or permitted by this Indenture.  The Trustee may, but shall not be obligated to,
enter into any such supplemental indenture which affects the Trustee's own
rights, duties or immunities under this Indenture or otherwise.

SECTION 904. Effect of Supplemental Indentures.

  Upon the execution of any supplemental indenture under this Article, this
Indenture shall be modified in accordance therewith, and such supplemental
indenture shall form a part of this Indenture for all purposes; and every Holder
of Securities theretofore or thereafter authenticated and delivered hereunder
shall be bound thereby.

SECTION 905. Conformity with Trust Indenture Act.

  Every supplemental indenture executed pursuant to this Article shall conform
to the requirements of the Trust Indenture Act as then in effect.

SECTION 906. Reference in Securities to Supplemental Indentures.

  Securities of any series authenticated and delivered after the execution of
any supplemental indenture pursuant to this Article may, and shall if required
by the Trustee, bear a notation in form approved by the Trustee as to any matter
provided, for in such supplemental indenture. If the Company shall so determine,
new Securities of any series so modified as to conform, in the opinion of the
Trustee and the Company, to any such supplemental indenture may be prepared and
executed by the Company and authenticated and delivered by the Trustee in
exchange for Outstanding Securities of such series.
<PAGE>

                                      44

                                  ARTICLE TEN
                                   COVENANTS

SECTION 1001. Payment of Principal. Premium and Interest.

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

SECTION 1002. Maintenance of Office or Agency.

  The Company will maintain in each Place of Payment for any series of
Securities an office or agency where Securities of that series may be presented
or surrendered for payment, where Securities of that series may be surrendered
for registration of transfer or exchange and where notices and demands to or
upon the Company in respect of the Securities of that series and this Indenture
may be served. The Company will give prompt written notice to the Trustee of the
location, and any change in the location, of such office or agency. If at any
time the Company shall fail to maintain any such required office or agency or
shall fail to furnish the Trustee with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the Corporate Trust
Office of the Trustee, and the Company hereby appoints the Trustee as its agent
to receive all such presentations, surrenders, notices and demands.

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

SECTION 1003. Money for Securities Payments to Be Held in Trust.

  If the Company shall at any time act as its own Paying Agent with respect to
any series of Securities, it will, on or before each due date of the principal
of (and premium, if any) or interest on any of the Securities of that series,
segregate and hold in trust for the benefit of the Persons entitled thereto a
sum sufficient to pay the principal (and premium, if any) or interest so
becoming due until such sums shall be paid to such Persons or otherwise disposed
of as herein provided and will promptly notify the Trustee of its action or
failure so to act.

  Whenever the Company shall have one or more Paying Agents for any series of
Securities, it will, on or prior to each due date of the principal of (and
premium, if any) or interest on any Securities of that series, deposit with a
Paying Agent a sum sufficient to pay the principal (and premium, if any) or
interest so becoming due, such sum to be held in trust for the benefit of the
Persons entitled to such principal, premium or interest, and (unless such Paying
Agent is the Trustee) the Company will promptly notify the Trustee of its action
or failure so to act.
<PAGE>

                                      45

  The Company will cause each Paying Agent for any series of Securities other
than the Trustee to execute and deliver to the Trustee an instrument in which
such Paying Agent shall agree with the Trustee, subject to the provisions of
this Section, that such Paying Agent will:

     (1) hold all sums held by it for the payment of the principal of (and
  premium, if any) or interest on Securities of that series in trust for the
  benefit of the Persons entitled thereto until such sums shall be paid to such
  Persons or otherwise disposed of as herein provided;

     (2) give the Trustee notice of any default by the Company (or any other
  obligor upon the Securities of that series) in the making of any payment of
  principal (and premium, if any) or interest on the Securities of that series;
  and

     (3) at any time during the continuance of any such default, upon the
  written request of the Trustee, forthwith pay to the Trustee all sums so held
  in trust by such Paying Agent.

  The Company may at any time, for the purpose of obtaining the satisfaction and
discharge of this Indenture or for any other purpose, pay, or by Company Order
direct any Paying Agent to pay, to the Trustee all sums held in trust by the
Company or such Paying Agent, such sums to be held by the Trustee upon the same
trusts as those upon which such sums were held by the Company or such Paying
Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying
Agent shall be released from all further liability with respect to such money.

  Any money deposited with the Trustee or any Paying Agent, or then held by the
Company, in trust for the payment of the principal of (and premium, if any) or
interest on any Security of any series and remaining unclaimed for three years
after such principal (and premium, if any) or interest has become due and
payable shall be paid to the Company on Company Request, or (then held by the
Company) shall be discharged from such trust; and the Holder of such Security
shall thereafter, as an unsecured general creditor, look only to the Company for
payment thereof, and all liability of the Trustee or such Paying Agent with
respect to such trust money, and all liability of the Company as trustee
thereof, shall thereupon cease; provided, however, that the
<PAGE>

                                      46

Trustee or such Paying Agent, before being required to make any such repayment,
may at the expense of the Company cause to be published once, in a newspaper
published in the English language, customarily published on each Business Day
and of general circulation in The Borough of Manhattan, City of New York, notice
that such money remains unclaimed and that, after a date specified therein.
which shall not be less than 30 days from the date of such publication, any
unclaimed balance of such money then remaining will be repaid to the Company.

SECTION 1004. Limitation on Liens.

  The Company will not create or assume, and will not permit any Restricted
Subsidiary to create or assume, any mortgage, security interest, pledge or lien
(collectively in this Article Ten referred to as "lien") of or upon any
Principal Property or shares of capital stock or indebtedness of any Restricted
Subsidiary, whether owned at the date of this Indenture or thereafter acquired,
without making effective provision, and the Company in such case will make or
cause to be made effective provision, whereby the Outstanding Securities shall
be secured by such lien equally and ratably with any and all other indebtedness
or obligations thereby secured, so long as such other indebtedness or
obligations shall be so secured; provided that the foregoing shall not apply to
any of the following:

       (1) liens on any Principal Property acquired, constructed or improved
     after the date of this Indenture which are created or assumed
     contemporaneously with, or within 120 days after, or pursuant to financing
     arrangements for which a firm commitment is made by a bank, insurance
     company or other lender or investor (not including the Company or any
     Restricted Subsidiary) within 120 days after, the completion of such
     acquisition, construction or improvement to secure or provide for the
     payment of any part of the purchase price of such property or the cost of
     such construction or improvement, or, in addition to liens contemplated by
     clauses (2) and (3) below, liens on any Principal Property existing at the
     time of acquisition thereof, provided that in the case of any such
     acquisition, construction or improvement the lien shall not apply to any
     property theretofore owned by the Company and/or, one or more Restricted
     Subsidiaries other than, in the case of such construction or improvement,
     any theretofore unimproved real property on which the property so
     constructed, or the improvement, is located;

       (2) liens on property or shares of capital stock or indebtedness of a
     corporation existing at the time such corporation is merged into or
     consolidated with the Company or a Restricted Subsidiary or at the time of
     a sale, lease or other disposition of the properties of a corporation as an
     entirety or substantially as an entirety to the Company or a Restricted
     Subsidiary;

       (3) liens on property or shares of capital stock or indebtedness of a
     corporation existing at the time such corporation becomes a Restricted
     Subsidiary;

       (4) liens to secure indebtedness of a Restricted Subsidiary to the
     Company and/or one or more Subsidiaries;

       (5) liens in favor of the United States of America or any State thereof,
     or any department, agency or political subdivision of the United States of
     America or any State thereof, to secure partial, progress, advance or other
     payments pursuant to any contract or statute or to secure any indebtedness
     incurred for the purpose of financing all or any part of the purchase price
     or the cost of constructing or improving the property subject to such
     liens;

       (6) liens on timberlands in connection with an arrangement under which
     the Company and/or one or more Restricted Subsidiaries are obligated to cut
     or pay for timber in order to provide the lienholder with a specified
     amount of money, however determined;
<PAGE>

                                      47

       (7) liens created or assumed in the ordinary course of the business of
     exploring for, developing or producing oil, gas or other minerals
     (including in connection with borrowings of money for such purposes) on, or
     on any interest in, or on any proceeds from the sale of, property, acquired
     or held for the purpose of exploring for, developing or producing oil, gas
     or other minerals, or production therefrom, or proceeds of such production,
     or material or equipment located on such property;

       (8) lieu in favor of any customer arising in respect of performance
     deposits and partial, progress, advance or other payments made by or on
     behalf of such customer for goods produced or to be produced for or
     services rendered or to be rendered to such customer in the ordinary course
     of business, which liens shall not exceed the amount of such deposits or
     payments;

       (9) liens for the sole purpose of extending, renewing or replacing in
     whole or in part any lien referred to in the foregoing clauses (1) to (8),
     inclusive, or in this clause (9), or any lien created prior to and existing
     on the date of this Indenture, provided that the indebtedness secured
     thereby shall not exceed in principal amount the indebtedness so secured at
     the time of such extension, renewal or replacement, and that such
     extension, renewal or replacement shall be limited to all or a part of the
     property which secured the lien so extended, renewed or replaced (plus
     improvements on such property);

       (10) mechanics', workmen's, repairmen's, materialmen's, carriers' and
     other similar liens arising in the ordinary course of business;

       (11) liens created by or resulting from any litigation or proceedings
     which are being contested in good faith by appropriate proceedings; liens
     arising out of judgments or awards against the Company and/or one or more
     Restricted Subsidiaries with respect to which the Company and/or such
     Restricted Subsidiary or Subsidiaries are in good faith prosecuting an
     appeal or proceedings for review; or liens incurred by the Company and/or
     one or more Restricted Subsidiaries for the purpose of obtaining a stay or
     discharge in the course of any legal proceeding to which the Company and/or
     such Restricted Subsidiary or Subsidiaries are a party; or

       (12) liens for taxes or assessments or governmental charges or levies not
     yet due or delinquent, or which can thereafter be paid without penalty, or
     which are being contested in good faith by appropriate proceedings;
     landlord's liens on property held under lease, and tenants' rights under
     leases; easements; and any other liens of a nature similar to those herein
     above described in this clause (12) which do not, in the opinion of the
     Company, materially impair the use of such property in the operation of the
     business of the Company or any Restricted Subsidiary or the value of such
     property for the purposes of such business.

SECTION 1005. Limitation on Sale and Lease-Back.

  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
and/or one or more Restricted Subsidiaries of any Principal Property (except for
temporary leases for a term, including any renewal thereof, of not more than
three years and except for leases between Company and one or more Restricted
Subsidiaries or between Restricted Subsidiaries), which property has been or is
to be sold or transferred by the Company and/or such Restricted Subsidiary or
Subsidiaries to such person (in this Article Ten referred to as a "Sale and
Lease-Back Transaction") unless (a) the Company and/or Restricted Subsidiary or
Subsidiaries would be entitled to incur indebtedness secured by a lien on such
property without equally and ratably securing the Securities pursuant to the
provisions of Section 1004, or (b) the Company shall apply or cause to be
applied an amount equal to the Value of such Sale and Lease-Back Transaction
within 120 days of the effective date of any arrangement (i) to the retirement
of indebtedness for borrowed money incurred or assumed by the Company or any
Restricted
<PAGE>

                                      48

Subsidiary (other than indebtedness for borrowed money owed to the Company
and/or one or more Restricted Subsidiaries) which by its terms matures on, or is
extendable or renewable at the option of the obligor to, a date more than twelve
months after the date of the incurrence or assumption of such indebtedness and
which is senior in right of payment to, or ranks pari passu with, the Securities
("funded debt"), or (ii) to the purchase of other property which will constitute
"Principal Property" having a fair value in the opinion of the Board of
Directors at least equal to the Value of such Sale and Lease-Back Transaction,
or (c) the Company or a Restricted Subsidiary, shall deliver to the Trustee or
other applicable trustee for cancellation Securities or funded debt in aggregate
principal amount at least equal to the Value of such Sale and Lease-Back
Transaction.

  For purposes of this Section 1005 and Section 1006, the term "Value" shall
mean, with respect to a Sale and Lease-Back Transaction, as of any particular
time, the amount equal to the greater of (1) the net proceeds of the sale or
transfer of the property leased pursuant to such Sale and Lease-Back Transaction
or (2) the fair value in the opinion of the Board of Directors of such property
at the time of entering into such Sale and Lease-Back Transaction, in either
case divided first by the number of full years of the term of the lease and then
multiplied by the number of full years of such term remaining at the time of
determination, without regard to any renewal or extension options contained in
the lease.

SECTION 1006. Exemption from Limitation on Liens and Sale and Lease-Back.

  Notwithstanding the provisions of Sections 1004 and 1005, the Company and any
one or more of its Restricted Subsidiaries may nevertheless create or assume
liens which would otherwise require securing of the Securities under said
provisions, and enter into Sale and Lease-Back Transactions without compliance
with either clause (b) or (c) of Section 1005, provided that the aggregate
amount of all such liens and Sale and Lease-Back Transactions permitted by this
Section at any time outstanding, (as measured by the sum of (i) all indebtedness
secured by all such liens then outstanding or to be so created or assumed, but
excluding secured indebtedness permitted under the exceptions in Section 1004,
and (ii) the Value of all such Sale and Lease-Back Transactions then outstanding
or to be so entered into, but excluding such transactions in which indebtedness
is retired or property is purchased or Securities or funded debt are delivered
pursuant to Section 1005) shall not exceed 5% of the Net Tangible Assets of the
Company and its Restricted Subsidiaries.

SECTION 1007. Statement by Officers as to Default.

  The Company will deliver to the Trustee, within 120 days after the end of each
fiscal year of the Company ending after the date hereof, an Officers'
Certificate, stating whether or not to the best knowledge of the signers thereof
the Company is in default in the performance and observance of any of the terms,
provisions and conditions of Sections 1004 to 1006, inclusive, and if the
Company shall be in default, specifying all such defaults and the nature and
status thereof of which they may have knowledge.

SECTION 1008. Waiver of Certain Covenants.

  The Company may omit in any particular instance to comply with any term,
provision or condition set forth in Sections 802, and 1004 to 1006, inclusive,
with respect to the Securities of any series if before the time for such
compliance the Holders of at least 66 2/3% in principal amount of the
Outstanding Securities of such series shall, by Act of such Holders, either
waive such compliance in such instance or generally waive compliance with such
term, provision or condition, but no such waiver shall extend to or affect such
term, provision or condition except to the extent so expressly waived, and,
until such waiver shall become effective, the obligations of the Company and the
duties of the Trustee in respect of any such term, provision or condition shall
remain in full force and effect.
<PAGE>

                                      49

SECTION 1009. Applicability of Covenants.

  Any series of Securities may provide, as contemplated by Section 301 of the
Indenture, that any one or more of the covenants set forth in Sections 802, and
1004 through 1008, inclusive, shall not be applicable to the Securities of such
series.

                                 ARTICLE ELEVEN
                            REDEMPTION OF SECURITIES

SECTION 1101. Applicability of Article.

  Securities of any series which are redeemable before their Stated Maturity
shall be redeemable in accordance with their terms and (except as otherwise
specified as contemplated by Section 301 for Securities of any series) in
accordance with this Article.

SECTION 1102. Election to Redeem; Notice to Trustee.

  The election of the Company to redeem any Securities shall be evidenced by a
Board Resolution. In case of any redemption at the election of the Company of
less than all the Securities of any series, the Company shall, at least 60 days
prior to the Redemption Date fixed by the Company (unless a shorter notice shall
be satisfactory to the Trustee), notify the Trustee of such Redemption Date and
of the principal amount of Securities of such series to be redeemed. In the
case of any redemption of Securities prior to the expiration of any restriction
on such redemption provided in the terms of such Securities or elsewhere in this
Indenture, the Company shall furnish the Trustee with an Officers' Certificate
evidencing compliance with such restriction.

SECTION 1103. Selection by Trustee of Securities to Be Redeemed.

  If less than all the Securities of any series are to be redeemed, the
particular Securities to be redeemed shall be selected not more than 60 days
prior to the Redemption Date by the Trustee, from the Outstanding Securities of
such series not previously called for redemption, by such method as the Trustee
shall deem fair and appropriate and which may provide for the selection for
redemption of portions (equal to the minimum authorized denomination for
Securities of that series or any integral multiple thereof) of the principal
amount of Securities of such series of a denomination larger than the minimum
authorized denomination for Securities of that series.

  The Trustee shall promptly notify the Company in writing of the Securities
selected for redemption and, in the case of any Securities 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 Securities shall relate, in the case of
any Securities redeemed or to be redeemed only in part, to the portion of the
principal amount of such Securities which has been or is to be redeemed.

SECTION 1104. Notice of Redemption.

  Notice of redemption shall be given by first-class mail, postage prepaid,
mailed not less than 30 nor more than 60 days prior to the Redemption Date, to
each Holder of Securities to be redeemed, at his address appearing in the
Security Register.

  All notices of redemption shall state:

     (l) the Redemption Date,

     (2) the Redemption Price,

     (3) if less than all the Outstanding Securities of any series are to be
  redeemed, the identification (and, in the case of partial redemption, the
  principal amounts) of the particular Securities to be redeemed,

     (4) that on the Redemption Date the Redemption Price will become due and
  payable upon each such Security to be redeemed
<PAGE>

                                      50

  and, if applicable, that interest thereon will cease to accrue on and after
  said date, (5) the place or places where such Securities are to be surrendered
  for payment of the Redemption Price, and (6) that the redemption is for the
  sinking fund, if such is the case.

  Notice of redemption of Securities to be redeemed at the election 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.

SECTION 1105. Deposit of Redemption Price.

  Prior to any Redemption Date, the Company shall deposit with the Trustee or
with a Paying Agent (or, if the Company is acting as its own Paying Agent,
segregate and hold in trust as provided in Section 1003) an amount of money
sufficient to pay the Redemption Price of, and (except if the Redemption Date
shall be an Interest Payment Date) accrued interest on, all the Securities which
are to be redeemed on that date.

SECTION 1106. Securities Payable on Redemption Date.

  Notice of redemption having been given as aforesaid, the Securities so to be
redeemed shall, on the Redemption Date, become due and payable at the Redemption
Price therein specified, and from and after such date (unless the Company shall
default in the payment of the Redemption Price and accrued interest) such
Securities shall cease to bear interest. Upon surrender of any such Security for
redemption in accordance with said notice, such Security shall be paid by the
Company at the Redemption Price, together with accrued interest to the
Redemption Date; provided, however, that installments of interest whose Stated
Maturity is on or prior to the Redemption Date shall be payable to the Holders
of such Securities, or one or more Predecessor Securities, registered as such at
the close of business on the relevant Record Dates according to their terms and
the provisions of Section 307.

  If any Security called for redemption shall not be so paid upon surrender
thereof for redemption, the principal (and premium, if any) shall, until paid,
bear interest from the Redemption Date at the rate prescribed therefor in the
Security.

SECTION 1107. Securities Redeemed in Part.

  Any Security which is to be redeemed only in part shall be surrendered at a
Place of Payment therefore (with, if the Company or the Trustee so requires, due
endorsement by, or a written instrument of transfer in form satisfactory to the
Company and the Trustee duly executed by, the Holder thereof or his attorney
duly authorized in writing), and the Company shall execute, and the Trustee
shall authenticate and deliver to the Holder of such Security without service
charge, a new Security or Securities of the same series, of any authorized
denomination as requested by such Holder, in aggregate principal amount equal to
and in exchange for the unredeemed portion of the principal of the Security so
surrendered.

                                 ARTICLE TWELVE
                                 SINKING FUNDS

SECTION 1201. Applicability of Article.

  The provisions of this Article shall be applicable to any sinking fund for the
retirement of Securities of a series except as otherwise specified as
contemplated by Section 301 for Securities of such series.

  The minimum amount of any sinking fund payment provided for by the terms of
Securities of any series is herein referred to as a "mandatory sinking fund
payment", and any payment in excess of such minimum amount
<PAGE>

                                      51

provided for by the terms of Securities of any series is herein referred to as
an "optional sinking fund payment". If provided for by the terms of Securities
of any series, the cash amount of any mandatory sinking fund payment may be
subject to reduction as provided in Section 1202. Each sinking fund payment
shall be applied to the redemption of Securities of any series as provided for
by the terms of Securities or such series.

SECTION 1202. Satisfaction of Sinking Fund Payments with Securities.

  The Company (1) may deliver to the Trustee Outstanding Securities of a series
(other than any previously called for redemption) and (2) may apply as a credit
Securities of a series which have been redeemed either at the election of the
Company pursuant to the terms of such Securities or through the application of
permitted optional sinking fund payments pursuant to the terms of such
Securities, in each case in satisfaction of all or any part of any sinking fund
payment with respect to the Securities of such series required to be made
pursuant to the terms of such Securities as provided for by the terms of such
series;  provided that such Securities have not been previously so credited.
Such Securities shall be received and credited for such purpose by the Trustee
at the Redemption Price specified in such Securities for redemption through
operation of the sinking fund and the amount of such sinking fund payment shall
be reduced accordingly.

SECTION 1203. Redemption of Securities for Sinking Fund.

  Not less than 60 days prior to each sinking fund payment date for any series
of Securities, the Company will deliver to the Trustee an Officers' Certificate
specifying the amount of the next ensuing sinking fund payment for that series
pursuant to the terms of that series, the portion thereof, if any, which is to
be satisfied by payment of cash and the portion thereof, if any, which is to be
satisfied by delivering and crediting Securities of that series pursuant to
Section 1202 and will also deliver to the Trustee any Securities to be so
delivered. Not less than 45 days before each such sinking fund payment date the
Trustee shall select the Securities to be redeemed upon such sinking fund
payment date in the manner specified in Section 1103 and cause notice of the
redemption thereof to be given in the name of and at the expense of the Company
in the manner provided in Section 1104. Such notice having been duly given, the
redemption of such Securities shall be made upon the terms and in the manner
stated in Sections 1106 and 1107.

                               ARTICLE THIRTEEN
             IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND
                                   DIRECTORS

SECTION 1301. Indenture and Securities Solely Corporate Obligations.

  No recourse for the payment of the principal of or interest on any Security,
or for any claim based thereon or otherwise in respect thereof, and no recourse
under or upon any obligation, covenant or agreement of the Company in this
Indenture or in any supplemental indenture, or in any Security, or because of
the creation of any indebtedness represented thereby, shall be had against any
incorporator, stockholder, officer or director, as such, present, past or
future, of the Company or of any successor corporation, either directly or
through the Company or any successor corporation, whether by virtue of any
constitution, statute or rule of law, or by the enforcement of any assessment or
penalty or otherwise; it being expressly understood that all such liability is
hereby expressly waived and released as a condition of, and as a consideration
for, the execution of this Indenture and the issue of the Securities.

     This instrument may be executed in any number of counterparts, each of
  which so executed shall be deemed to be an original, but all such counterparts
  shall together constitute but one and the same instrument.
<PAGE>

                                      52

  IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly
executed, and their respective corporate seals to be hereunto affixed and
attested, all as of the day and year first above written.

                            GEORGIA-PACIFIC CORPORATION

                              By  T. MARSHALL HAHN, JR.
                                  President

[CORPORATE SEAL]

Attest:

MARVIN L. WALDREP
Assistant Secretary

                            THE CHASE MANHATTAN BANK
                             (NATIONAL ASSOCIATION),
                                  AS TRUSTEE

                              By  J. A. PAYNE
                                  Vice President

[CORPORATE SEAL]
Attest:

C. EHRET
Assistant Secretary<PAGE>

                                                                    EXHIBIT 4(f)

================================================================================

                          GEORGIA-PACIFIC CORPORATION

                                      and

                             THE BANK OF NEW YORK,
                                    Trustee

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

                                   INDENTURE

                           Dated as of June __, 1999

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

                         Providing for the issuance of
                    subordinated debt securities in series

================================================================================
<PAGE>

                          GEORGIA-PACIFIC CORPORATION

        Reconciliation and tie between Trust Indenture Act of 1939 and
                      Indenture dated as of June __, 1999

         Trust Indenture                                        Indenture
           Act Section                                           Section

Section 310(a)(1)..................................                609
             (a)(2)................................                609
             (a)(3)................................          Not Applicable
             (a)(4)................................          Not Applicable
             (b)    ...............................             608, 610
Section 311(a)      ...............................                613
             (b)    ...............................                613
Section 312(a)      ...............................            701, 702(a)
             (b)    ...............................              702(b)
             (c)    ...............................              702(c)
Section 313(a)      ...............................              703(a)
             (b)    ...............................              703(b)
             (c)    ...............................          703(a), 703(b)
             (d)    ...............................              703(c)
Section 314(a)      ...............................                704
             (b)    ...............................          Not Applicable
             (c)(1)................................                     102
             (c)(2)................................                102
             (c)(3)................................          Not Applicable
             (d)    ...............................          Not Applicable
             (e)    ...............................                102
Section 315(a)      ...............................              601(a)
             (b)    ...............................                602
             (c)    ...............................              601(b)
             (d)    ...............................              601(c)
             (d)(1)................................             601(a)(1)
             (d)(2)................................             601(c)(2)
             (d)(3)................................             601(c)(3)
             (e)    ...............................                514
Section 316(a)      ...............................                101
             (a)(1)(A).............................             502, 513
             (a)(1)(B).............................                513
             (a)(2)................................          Not Applicable
             (b)    ...............................                508
Section 317(a)(1)..................................                503
             (a)(2)................................                504
             (b)    ...............................               1003
Section 318(a)      ...............................                107

-------------
NOTE: This reconciliation and tie shall not, for any purpose, be deemed to be a
part of the Indenture.
<PAGE>

                               TABLE OF CONTENTS

                                                                         Page
                                                                         ----

         Parties  ........................................................  1
         Recitals of the Company..........................................  1

ARTICLE ONE

         DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION............1
         Section 101.  Definitions..........................................1
                           Act..............................................1
                           Additional Senior Obligations....................2
                           Affiliate........................................2
                           control..........................................2
                           Authenticating Agent.............................2
                           Board of Directors...............................2
                           Board Resolution.................................2
                           Book-Entry Security..............................2
                           Business Day.....................................2
                           Closing Price....................................2
                           Commission.......................................3
                           Company..........................................3
                           "Company Request" or "Company Order".............3
                           Conversion Agent.................................3
                           Conversion Price.................................3
                           Corporate Trust Office...........................3
                           corporation......................................3
                           Covenant Defeasance..............................3
                           Current Market Price.............................4
                           Defaulted Interest...............................4
                           Defeasance.......................................4
                           Depositary.......................................4
                           Event of Default.................................4
                           Holder...........................................4
                           Indenture........................................4
                           interest.........................................4
                           Interest Payment Date............................4
                           Investments in Unrestricted Subsidiaries.........4
                           Net Tangible Assets..............................4
                           Maturity.........................................5
                           Officers' Certificate............................5
                           Opinion of Counsel...............................5
                           Original Issue Discount Security.................5
                           Outstanding......................................5
                           Paying Agent.....................................6
                           Person...........................................6
                           Place of Payment.................................6
                           Predecessor Security.............................6
                           Principal Property...............................6

                                       -i-
<PAGE>

                           Ranking Junior to the Securities...................6
                           Ranking on a Parity with the Securities............7
                           Redemption Date....................................7
                           Redemption Price...................................7
                           Regular Record Date................................7
                           Responsible Officer................................7
                           Securities.........................................7
                           "Security Register," "Security Registrar" and
                            "Co-Security Registrar"...........................7
                           Senior Indebtedness................................7
                           Special Record Date................................7
                           Stated Maturity....................................8
                           Subsidiary.........................................8
                           Trading Day........................................8
                           Trustee............................................8
                           Trust Indenture Act................................8
                           U.S. Government Obligations........................8
                           Value..............................................8
                           Vice President.....................................8
                           Voting Stock.......................................8
         Section 102.  Compliance Certificates and Opinions...................8
         Section 103.  Form of Documents Delivered to Trustee.................9
         Section 104.  Acts of Holders.......................................10
         Section 105.  Notices, Etc., to Trustee and Company.................10
         Section 106.  Notice to Holders; Waiver.............................11
         Section 107.  Conflict With Trust Indenture Act.....................11
         Section 108.  Effect of Headings and Table of Contents..............11
         Section 109.  Successors and Assigns................................11
         Section 110.  Separability Clause...................................11
         Section 111.  Benefits of Indenture.................................11
         Section 112.  Governing Law.........................................12
         Section 113.  Legal Holidays........................................12

ARTICLE TWO

         SECURITY FORMS......................................................12
         Section 201.  Forms Generally.......................................12
         Section 202.  Form of Face of Security..............................12
         Section 203.  Form of Reverse of Security...........................16
         Section 204.  Form of Trustee's Certificate of Authentication.......19
         Section 205.  Issuance of Book-Entry Securities.....................19

ARTICLE THREE

         THE SECURITIES......................................................20
         Section 301.  Amount Unlimited; Issuable in Series..................20
         Section 302.  Denominations.........................................22
         Section 303.  Execution, Authentication, Delivery and Dating........22
         Section 304.  Temporary Securities..................................23
         Section 305.  Registration, Registration of Transfer and Exchange...23

                                      -ii-
<PAGE>

         Section 306.  Mutilated, Destroyed, Lost and Stolen Securities......25
         Section 307.  Payment of Interest; Interest Rights Preserved........26
         Section 308.  Persons Deemed Owners.................................27
         Section 309.  Cancellation..........................................27
         Section 310.  Computation of Interest...............................27
         Section 311.  Regarding Beneficial Ownership Interests in
                        Book-Entry Securities................................28

ARTICLE FOUR

         SATISFACTION AND DISCHARGE..........................................28
         Section 401.  Satisfaction and Discharge of Indenture...............28
         Section 402.  Defeasance and Discharge..............................29
         Section 403.  Covenant Defeasance...................................29
         Section 404.  Conditions to Defeasance or Covenant Defeasance.......30
         Section 405.  Deposited Money and U.S. Government Obligations to Be
                        Held in Trust; Other Miscellaneous Provisions........31

ARTICLE FIVE

         REMEDIES............................................................31
         Section 501.  Events of Default.....................................31
         Section 502.  Acceleration of Maturity; Rescission and Annulment....32
         Section 503.  Collection of Indebtedness and Suits for
                        Enforcement by Trustee...............................33
         Section 504.  Trustee May File Proofs of Claim......................34
         Section 505.  Trustee May Enforce Claims Without Possession of
                        Securities...........................................34
         Section 506.  Application of Money Collected........................34
         Section 507.  Limitation on Suits...................................35
         Section 508.  Unconditional Right of Holders to Receive Principal,
                        Premium and Interest.................................35
         Section 509.  Restoration of Rights and Remedies....................36
         Section 510.  Rights and Remedies Cumulative........................36
         Section 511.  Delay or Omission Not Waiver..........................36
         Section 512.  Control by Holders....................................36
         Section 513.  Waiver of Past Defaults...............................36
         Section 514.  Undertaking for Costs.................................37
         Section 515.  Waiver of Stay or Extension Laws......................37

ARTICLE SIX

         THE TRUSTEE.........................................................37
         Section 601.  Certain Duties and Responsibilities...................37
         Section 602.  Notice of Defaults....................................38
         Section 604.  Not Responsible for Recitals or Issuance of
                        Securities...........................................40
         Section 605.  May Hold Securities...................................40
         Section 606.  Money Held in Trust...................................40
         Section 607.  Compensation and Reimbursement........................40
         Section 608.  Disqualification; Conflicting Interests...............41
         Section 609.  Corporate Trustee Required; Eligibility...............41
         Section 610.  Resignation and Removal; Appointment of Successor.....41

                                      -iii-
<PAGE>

         Section 611.  Acceptance of Appointment by Successor.................43
         Section 612.  Merger, Conversion, Consolidation or Succession to
                        Business..............................................44
         Section 613.  Preferential Collection of Claims Against Company......44
         Section 614.  Appointment of Authenticating Agent....................44

ARTICLE SEVEN

         LISTS OF HOLDERS AND REPORTS BY TRUSTEE AND COMPANY..................46
         Section 701.  Company to Furnish Trustee Names and Addresses of
                        Holders...............................................46
         Section 702.  Preservation of Information; Communications to
                        Holders...............................................46
         Section 703.  Reports by Trustee.....................................46
         Section 704.  Reports by Company.....................................47

ARTICLE EIGHT

         CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE.................47
         Section 801.  Company May Consolidate, Etc. Only on Certain Terms....47
         Section 802.  Securities to Be Secured in Certain Events.............47
         Section 803.  Successor Corporation Substituted......................48
         Section 804.  Assumption by Subsidiary of Company's Obligations......48

ARTICLE NINE

         SUPPLEMENTAL INDENTURES..............................................49
         Section 901.  Supplemental Indentures Without Consent of Holders.....49
         Section 902.  Supplemental Indentures With Consent of Holders........50
         Section 903.  Execution of Supplemental Indentures...................51
         Section 904.  Effect of Supplemental Indentures......................51
         Section 905.  Conformity With Trust Indenture Act....................52
         Section 906.  Reference in Securities to Supplemental Indentures.....52

ARTICLE TEN

         COVENANTS............................................................52
         Section 1001.  Payment of Principal, Premium and Interest............52
         Section 1002.  Maintenance of Office or Agency.......................52
         Section 1003.  Money for Securities Payments to be Held in Trust.....53
         Section 1004.  Limitation on Liens...................................54
         Section 1005.  Limitation on Sale and Lease-Back.....................56
         Section 1006.  Exemption from Limitation on Liens and Sale and
                         Lease-Back...........................................56
         Section 1007.  Statement by Officers as to Default...................57
         Section 1008.  Waiver of Certain Covenants...........................57
         Section 1009.  Applicability of Covenants............................57

                                      -iv-
<PAGE>

ARTICLE ELEVEN

         REDEMPTION OF SECURITIES.............................................57
         Section 1101.  Applicability of Article..............................57
         Section 1102.  Election to Redeem; Notice to Trustee.................57
         Section 1103.  Selection by Trustee of Securities to be Redeemed.....58
         Section 1104.  Notice of Redemption..................................58
         Section 1105.  Deposit of Redemption Price...........................59
         Section 1106.  Securities Payable on Redemption Date.................59
         Section 1107.  Securities Redeemed in Part...........................59

ARTICLE TWELVE

         SINKING FUNDS........................................................59
         Section 1201.  Applicability of Article..............................59
         Section 1202.  Satisfaction of Sinking Fund Payments With
                         Securities...........................................60
         Section 1203.  Redemption of Securities for Sinking Fund.............60

ARTICLE THIRTEEN

         SUBORDINATION OF SECURITIES..........................................60
         Section 1301.  Agreement to Subordinate..............................60
         Section 1302.  Obligation of the Company Unconditional...............62
         Section 1303.  Notice to Trustee of Facts Prohibiting Payment........62
         Section 1304.  Application by Trustee of Moneys Deposited With It....63
         Section 1305.  Subrogation to Rights of Holders of Senior
                         Indebtedness and Additional Senior Obligations.......63
         Section 1306.  Subordination Rights Not Impaired by Acts or Omissions
                         of Company, Holders of Senior Indebtedness or Holders
                          of Additional Senior Obligations....................63
         Section 1307.  Authorization of Trustee to Effectuate Subordination
                         of Securities........................................64
         Section 1308.  Right of Trustee to Hold Senior Indebtedness and
                         Additional Senior Obligations........................64
         Section 1309.  Article Thirteen Not to Prevent Events of Default.....64
         Section 1310.  Article Applicable to Paying Agents...................64
         Section 1311.  Reliance on Judicial Order or Certificate of
                         Liquidating Agent....................................64
         Section 1312.  Trustee Not Fiduciary for Holders of Senior
                         Indebtedness or Holders of Additional Senior
                          Obligations.........................................65
         Section 1313.  Payment Permitted If No Default.......................65

ARTICLE FOURTEEN

         HOLDERS' MEETINGS....................................................65
         Section 1401.  Purposes for Which Meetings May be Called.............65
         Section 1402.  Manner of Calling Meetings............................66
         Section 1403.  Call of Meetings by Company or Holders................66
         Section 1404.  Who May Attend and Vote at Meetings...................66
         Section 1405.  Regulations May be Made by Trustee....................66

                                       -v-
<PAGE>

         Section 1406.  Evidence of Actions by Holders........................67
         Section 1407.  Exercise of Rights of Trustee and
                         Holders Not to be Hindered or Delayed................67

ARTICLE FIFTEEN

         CONVERSION...........................................................67
         Section 1501.  Applicability; Conversion Privilege...................67
         Section 1502.  Conversion Procedure; Conversion Price;
                         Fractional Shares....................................67
         Section 1503.  Adjustment of Conversion Price for Georgia-Pacific
                         Group Stock or Timber Stock..........................68
         Section 1504.  Consolidation or Merger of the Company................71
         Section 1505.  Notice of Adjustment..................................71
         Section 1506.  Notice in Certain Events..............................72
         Section 1507.  Company To Reserve Stock; Registration; Listing.......72
         Section 1508.  Taxes on Conversion...................................73
         Section 1509.  Conversion After Record Date..........................73
         Section 1510.  Company Determination Final...........................74
         Section 1511.  Trustee's Disclaimer..................................74

                                      -vi-
<PAGE>

          INDENTURE, dated as of June __, 1999, between GEORGIA-PACIFIC
CORPORATION, a corporation duly organized and existing under the laws of the
State of Georgia (herein called the "Company"), having its principal office at
133 Peachtree Street, N.E., Atlanta, Georgia 30303, and The Bank of New York, a
New York State banking corporation, as Trustee (herein called the "Trustee").

                            RECITALS OF THE COMPANY

          The Company has duly authorized the execution and delivery of this
Indenture to provide for the issuance from time to time of its unsecured
subordinated debentures, notes or other evidences of indebtedness (herein called
the "Securities"), to be issued in one or more series as provided in this
Indenture.

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

          NOW, THEREFORE, THIS INDENTURE WITNESSETH:

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

                                  ARTICLE ONE

            DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

          Section 101.  Definitions.
                        -----------

          For all purposes of this Indenture, except as otherwise expressly
provided or unless the context otherwise requires:

          (1)  the terms defined in this Article have the meanings assigned to
     them in this Article and include the plural as well as the singular;

          (2)  all other terms used herein which are defined in the Trust
     Indenture Act, either directly or by reference therein, have the meanings
     assigned to them therein;

          (3)  all accounting terms not otherwise defined herein have the
     meanings assigned to them in accordance with generally accepted accounting
     principles and, except as otherwise expressly provided herein, the term
     "generally accepted accounting principles" with respect to any computation
     required or permitted hereunder shall mean such accounting principles as
     are generally accepted at the date of such computation; and

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

          "Act," when used with respect to any Holder, has the meaning
specified in Section 104.
<PAGE>

                                                                               2

          "Additional Senior Obligations" means all indebtedness of the Company
for claims in respect of derivative products such as interest and foreign
exchange rate contracts, commodity contracts and similar arrangements, whether
outstanding on the date of execution of this Indenture or thereafter created,
assumed or incurred; provided, however, that Additional Senior Obligations shall
not include claims in respect of Senior Indebtedness or any obligation (i)
Ranking Junior to the Securities or (ii) Ranking on a Parity with the
Securities.  For purposes of this definition, "claim" shall have the meaning
assigned thereto in Section 101(4) of the United States Bankruptcy Code of 1978,
as amended, and in effect on the date of execution of this Indenture.

          "Affiliate" of any specified Person means any other Person directly
or indirectly controlling or controlled by or under direct or indirect common
control with such specified Person.  For the purposes of this definition, "
control" when used with respect to any specified Person means the power to
direct the management and policies of such Person, directly or indirectly,
whether through the ownership of voting securities, by contract or otherwise;
and the terms "controlling" and "controlled" have meanings correlative to the
foregoing.

          "Authenticating Agent" means any Person authorized by the Trustee to
act on behalf of the Trustee to authenticate Securities.

          "Board of Directors" means either the board of directors of the
Company, any duly authorized committee of that board or any officer of the
Company duly authorized by the board of directors of the Company or a duly
authorized committee of that board to take a specified action or make a
specified determination (the authorization of such offices being evidenced by a
copy of a resolution certified by the Secretary or an Assistant Secretary of the
Company to have been duly adopted by the board of directors of the Company or a
duly authorized committee of that board and to be in full force and effect on
the date of such certification and delivered to the Trustee).

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

          "Book-Entry Security" means a Security in the form prescribed in
Section 205 evidencing all or part of a series of Securities, issued to the
Depositary for such series or its nominee and registered in the name of such
Depositary or its nominee.

          "Business Day", when used with respect to any Place of Payment, means
each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which
banking institutions in that Place of Payment are generally authorized or
obligated by law to close.

          "Closing Price" of the Georgia-Pacific Group Stock or the Timber
Stock, as applicable, means the last reported sale price of such stock (regular
way) as shown on the Composite Tape of the New York Stock Exchange (or, if such
stock is not listed or admitted to trading on the New York Stock Exchange, on
the principal national securities exchange on which such stock is listed or
admitted to trading), or, in case no such sale takes place on such day, the
average of the closing bid and asked prices on the New York Stock Exchange (or,
if such stock is not listed or admitted to trading on the New York Stock
Exchange, on the principal national securities exchange on which such stock is
listed or admitted to trading), or, if it is not listed or admitted to trading
on any national securities exchange, the last reported sale price of such stock
as reported by the National Association of Securities Dealers Automated
Quotation System (NASDAQ), or in case no such sale takes place on such day, the
average of the closing bid and asked prices as reported by NASDAQ, or if such
stock is not so reported, the average of
<PAGE>

                                                                               3

the closing bid and asked prices as furnished by any member of the National
Association of Securities Dealers, Inc., selected from time to time by the
Company for that purpose.

          "Commission" means the Securities and Exchange Commission, as from
time to time constituted, created under the Securities Exchange Act of 1934, as
amended, or, if at any time after the execution of this instrument 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.

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

          "Company Request" or "Company Order" means a written request or order
signed in the name of the Company by its Chairman of the Board, its President, a
Vice Chairman or a Vice President, and by its Treasurer, an Assistant Treasurer,
its Comptroller, an Assistant Comptroller, its Secretary or an Assistant
Secretary, and delivered to the Trustee.

          "Conversion Agent" means any Person authorized by the Company to
receive Securities to be converted into Georgia-Pacific Group Stock or Timber
Stock, as applicable, on behalf of the Company.  The Company initially
authorizes the Trustee to act as Conversion Agent for the Securities on its
behalf.  The Company may at any time and from time to time authorize one or more
Persons to act as Conversion Agent in addition to or in place of the Trustee
with respect to any series of Securities issued under this Indenture.

          "Conversion Price" means, with respect to any series of Securities
which are convertible into Georgia-Pacific Group Stock or Timber Stock, as
applicable, the price per share of such stock at which the Securities of such
series are so convertible, as specified pursuant to Section 301 with respect to
such series, as such price may be adjusted from time to time in accordance with
Section 1503.

          "Corporate Trust Office" means the office of the Trustee at which at
any particular time its corporate trust business shall be principally
administered, which office at the date of execution of this Indenture is located
at _______________________, Attention:_____________________; except, that,
with respect to presentation of Securities for registration of transfer and
exchange, and the location of the Securities Register, such term means the
office or agency of the Security Registrar in said Borough, at which at any
particular time its corporate agency business shall be conducted.

          "corporation" includes corporations, associations, companies and
business trusts.

          "Covenant Defeasance" has the meaning specified in Section 403.

          "Current Market Price" on any date means the average of the daily
Closing Prices per share of Georgia-Pacific Group Stock or Timber Stock, as
applicable, for any thirty (30) consecutive Trading Days selected by the Company
prior to the date in question, which thirty (30) consecutive Trading Day period
shall not commence more than forty-five (45) Trading Days prior to the day in
question; provided that with respect to Section 1503(3), the "Current Market
Price" of the Georgia-Pacific Group Stock or Timber Stock, as applicable, shall
mean the average of the daily Closing Prices
<PAGE>

                                                                               4

per share of such stock for the five (5) consecutive Trading Days ending on the
date of the distribution referred to in Section 1503(3) (or if such date shall
not be a Trading Day, on the Trading Day immediately preceding such date).

          "Defaulted Interest" has the meaning specified in Section 307.

          "Defeasance" has the meaning specified in Section 402.

          "Depositary" means, with respect to the Securities of any series
issuable or issued in the form of a Book-Entry Security, the Person designated
as Depositary by the Company pursuant to Section 301 until a successor
Depositary shall have been appointed pursuant to Section 305, 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 Securities of any such series shall mean the
Depositary with respect to the Securities of that series.

          "Event of Default" has the meaning specified in Section 501.

          "Georgia-Pacific Group Stock" means the Georgia-Pacific Group class of
common stock, par value $.80 per share, of the Company authorized at the date of
this Indenture as originally signed.

          "Holder" means a Person in whose name a Security is registered in the
Security Register.

          "Indenture" means this instrument as originally executed or as it may
from time to time be supplemented or amended by one or more indentures
supplemental hereto entered into pursuant to the applicable provisions hereof
and shall include the terms of particular series of Securities established as
contemplated by Section 301.

          "interest", when used with respect to an Original Issue Discount
Security which by its terms bears interest only after Maturity, means interest
payable after Maturity.

          "Interest Payment Date", when used with respect to any Security,
means the Stated Maturity of an installment of interest on such Security.

          "Investments in Unrestricted Subsidiaries" means Investments made by
the Company or by any Restricted Subsidiary in Unrestricted Subsidiaries, net of
Investments made by Unrestricted Subsidiaries in the Company or any Restricted
Subsidiary.  If any corporation which becomes a Restricted Subsidiary after the
date of this Indenture shall, at the time it becomes a Restricted Subsidiary,
have any Investments in an Unrestricted Subsidiary, such Investments shall be
deemed to be Investments made by the Company in such Unrestricted Subsidiary at
the time such corporation becomes a Restricted Subsidiary, in the amount at
which such Investments are then carried on the books of such corporation. If any
corporation shall become an Unrestricted Subsidiary after the date of this
Indenture, the Investments of the Company and its Restricted Subsidiaries in
such corporation shall be deemed to be Investments made at the time such
corporation becomes an Unrestricted Subsidiary, in the amount at which such
Investments are then carried on the books of the Company and its Restricted
Subsidiaries.

          "Net Tangible Assets" means, at any date, the aggregate amount of
assets (less applicable reserves and other properly deductible items) after
deducting therefrom (a) all current liabilities, (b) any item representing
Investments in Unrestricted Subsidiaries and (c) all goodwill, trade names,
trademarks, patents, unamortized debt discount and expense and other like
intangibles, all of the foregoing as set
<PAGE>

                                                                               5

forth on the then most recent consolidated balance sheet of the Company and its
Subsidiaries and computed in accordance with generally accepted accounting
principles.

          "Maturity", when used with respect to any Security, means the date on
which the principal of such Security or an instalment of principal becomes due
and payable as therein or herein provided, whether at the Stated Maturity or by
declaration of acceleration, call for redemption or otherwise.

          "Officers' Certificate" means a certificate signed by the Chairman of
the Board, the President, a Vice Chairman or a Vice President, and by the
Treasurer, an Assistant Treasurer, the Comptroller, an Assistant Comptroller,
the Secretary or an Assistant Secretary of the Company, or a Subsidiary, as the
case may be, and delivered to the Trustee.

          "Opinion of Counsel" means a written opinion of counsel, who may be
an employee of or counsel for the Company, or who may be other counsel
satisfactory to the Trustee.

          "Original Issue Discount Security" means any Security which 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 502.

          "Outstanding", when used with respect to Securities, means, as of the
date of determination, all Securities theretofore authenticated and delivered
under this Indenture, except:

               (i)   Securities theretofore cancelled by the Trustee or
     delivered to the Trustee for cancellation;

               (ii)  Securities for whose payment or redemption money in the
     necessary amount has been theretofore deposited with the Trustee or any
     Paying Agent (other than the Company) in trust or set aside and segregated
     in trust by the Company (if the Company shall act as its own Paying Agent)
     for the Holders of such Securities; provided, that if such Securities are
     to be redeemed, notice of such redemption has been duly given pursuant to
     this Indenture or provision therefor satisfactory to the Trustee has been
     made; and

               (iii) Securities which have been paid pursuant to Section 306 or
     in exchange for or in lieu of which other Securities have been
     authenticated and delivered pursuant to this Indenture, other than any such
     Securities in respect of which there shall have been presented to the
     Trustee proof satisfactory to it that such Securities are held by a bona
     fide purchaser in whose hands such Securities are valid obligations of the
     Company;

provided, however, that in determining whether the Holders of the requisite
principal amount of the Outstanding Securities have given any request, demand,
authorization, direction, notice, consent or waiver hereunder, (i) the principal
amount of an Original Issue Discount Security that shall be deemed to be
Outstanding shall be the amount of the principal thereof that would be due and
payable as of the date of such determination upon acceleration of the Maturity
thereof pursuant to Section 502; (ii) the principal amount of a Security
denominated in a foreign currency or currencies shall be the U.S. dollar
equivalent, determined on the date of original issuance of such Security, of the
principal amount (or, in the case of an Original Issue Discount Security, the
U.S. dollar equivalent on the date of original issuance of such Security of the
amount determined as provided in (i) above) of such Security; and (iii)
Securities owned by or held for the account of the Company or any other obligor
upon the Securities or any Affiliate of the
<PAGE>

                                                                               6

Company or of such other obligor 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 Securities which a Responsible Officer of the Trustee
actually knows to be so owned shall be so disregarded. Securities so owned or so
held which have been pledged in good faith may be regarded as Outstanding if the
pledgee establishes to the satisfaction of the Trustee the pledgee's right so to
act with respect to such Securities and that the pledgee is not the Company or
any other obligor upon the Securities or any Affiliate of the Company or of such
other obligor. Upon request of the Trustee, the Company shall furnish to the
Trustee promptly an Officers' Certificate listing and identifying all
Securities, if any, known by the Company to be owned by or held for the account
of the Company or any other obligor upon the Securities, or any Affiliate of the
Company or of such obligor and the Trustee shall be entitled to accept such
Officers' Certificate as conclusive evidence of the facts therein set forth and
of the fact that all Securities not listed therein and not otherwise excluded
from the provisions hereof are Outstanding for the purposes of any such
determination.

          "Paying Agent" means any Person authorized by the Company to pay the
principal of (and premium, if any) or interest on any Securities on behalf of
the Company.

          "Person" means any individual, corporation, partnership, joint
venture, association, joint-stock company, trust, unincorporated organization or
government or any agency or political subdivision thereof.

          "Place of Payment," when used with respect to the Securities of any
series, means the place or places where the principal of (and premium, if any)
and interest on the Securities of that series are payable as specified as
contemplated by Section 301.

          "Predecessor Security" of any particular Security means every
previous Security evidencing all or a portion of the same debt as that evidenced
by such particular Security; and, for the purposes of this definition, any
Security authenticated and delivered under Section 306 in exchange for or in
lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to
evidence the same debt as the mutilated, destroyed, lost or stolen Security.

          "Principal Property" means any mill, manufacturing plant,
manufacturing facility or timberlands, owned by the Company and/or one or more
Restricted Subsidiaries and located within the continental United States of
America; provided that the term "Principal Property" shall not include:  (a) any
such mill, plant, facility or timberlands or portion thereof (i) which is
financed by obligations issued by a State, a Territory or a possession of the
United States of America, or any political subdivision of any of the foregoing,
or the District of Columbia, the interest on which is excludable from gross
income of the holders thereof pursuant to the provisions of Section 103 (a)(1)
(but only if by reason of section 103(b)(4)(E) or (F)) of the Internal Revenue
Code of 1986, as amended (or any successor to such provision), as in effect at
the time of the issuance of such obligations, or (ii) which in the opinion of
the Board of Directors is not of material importance to the total business
conducted by the Company and its Restricted Subsidiaries, considered as a whole;
(b) any timberlands designated by the Company's Board of Directors as being held
primarily for development and or sale rather than for the production of timber;
or (c) any minerals or mineral rights.

          "Ranking Junior to the Securities", when used with respect to any
obligation of the Company, means any obligation of the Company which (a) ranks
junior to and not equally with or prior to the Securities in right of payment
upon the happening of any event of the kind specified in the first
<PAGE>

                                                                               7

sentence of the first paragraph of Section 1301 and (b) is specifically
designated as ranking junior to the Securities by express provisions in the
instrument creating or evidencing such obligation.

          "Ranking on a Parity with the Securities", when used with respect to
any obligation of the Company, means any obligation of the Company which (a)
ranks equally with and not prior to the Securities in right of payment upon the
happening of any event of the kind specified in the first sentence of the first
paragraph of Section 1301 and (b) is specifically designated as ranking on a
parity with the Securities by express provisions in the instrument creating or
evidencing such obligation.  The securing of any obligations of the Company,
otherwise Ranking on a Parity with the Securities or Ranking Junior to the
Securities, is not deemed to prevent such obligations from constituting
obligations Ranking on a Parity with the Securities or Ranking Junior to the
Securities.

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

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

          "Regular Record Date" for the interest payable on any Interest
Payment Date on the Securities of any series means the date specified for that
purpose as contemplated by Section 301.

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

          "Restricted Subsidiary" means any Subsidiary (i) substantially all of
the property of which is located within the continental United States of America
and (ii) which itself, or with the Company and/or one or more other Restricted
Subsidiaries, owns a Principal Property.

          "Securities" has the meaning stated in the first recital of this
Indenture and more particularly means any Securities authenticated and delivered
under this Indenture.

          "Security Register", "Security Registrar" and "Co-Security Registrar"
have the respective meanings specified in Section 305.

          "Senior Indebtedness" means (a) all indebtedness of the Company for
money borrowed, whether outstanding on the date of execution of this Indenture
or thereafter created, assumed or incurred except (i) the Securities, (ii) any
obligation Ranking on a Parity with the Securities or (iii) any obligation
Ranking Junior to the Securities and (b) any deferrals, renewals or extensions
of any such Senior Indebtedness.  As used in the preceding sentence, the term
"indebtedness of the Company for money borrowed" shall mean any obligation of,
or any obligation guaranteed by, the Company for the repayment of borrowed
money, whether or not evidenced by bonds, debentures, notes or other written
instruments, and any deferred obligation for the payment of the purchase price
of property or assets acquired other than in the ordinary course of business.

          "Special Record Date" for the payment of any Defaulted Interest means
a date fixed by the Trustee pursuant to Section 307.
<PAGE>

                                                                               8

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

          "Subsidiary" means a corporation more than 50% of the outstanding
Voting Stock of which is owned, directly or indirectly, by the Company or by one
or more other Subsidiaries, or by the Company and one or more other
Subsidiaries.

          "Timber Stock" means the Timber Group class of common stock, par value
$.80 per share, of the Company authorized at the date of this Indenture as
originally signed.

          "Trading Day" means, with respect to the Georgia-Pacific Group Stock
or Timber Stock, as applicable, so long as the Georgia-Pacific Group Stock or
Timber Stock, as applicable, is listed or admitted to trading on the New York
Stock Exchange, a day on which the New York Stock Exchange is open for the
transaction of business, or, if the Georgia-Pacific Group Stock or Timber Stock,
as applicable, is not listed or admitted to trading on the New York Stock
Exchange, a day on which the principal national securities exchange on which the
Georgia-Pacific Group Stock or Timber Stock, as applicable, is listed is open
for the transaction of business, or, if the Georgia-Pacific Group Stock or
Timber Stock, as applicable, is not so listed or admitted for trading on any
national securities exchange, a day on which NASDAQ is open for the transaction
of business.

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

          "Trust Indenture Act" means the Trust Indenture Act of 1939, as in
force at the date as of which this instrument was executed; provided, however,
that in the event the Trust Indenture Act of 1939 is amended after such date,
"Trust Indenture Act" means, to the extent required by any such amendment, the
Trust Indenture Act of 1939 as so amended.

          "Unrestricted Subsidiary" means any Subsidiary of the Company other
than a Restricted Subsidiary.

          "U.S. Government Obligations" means either (i) direct obligations of
the United States of America or (ii) obligations of a Person controlled or
supervised by and acting as an agency or instrumentality of the United States of
America, the timely payment of which is unconditionally guaranteed by the full
faith and credit of the United States of America.

          "Value" has the meaning specified in Section 1005.

          "Vice President", when used with respect to the Company or the
Trustee, means any vice president, whether or not designated by a number or a
word or words added before or after the title "vice president."

          "Voting Stock", means stock of the class or classes having general
voting power under ordinary circumstances to elect at least a majority of the
board of directors, managers or trustees of the
<PAGE>

                                                                               9

subject corporation (irrespective of whether or not at the time stock of any
other class or classes shall have or might have voting power by reason of the
happening of any contingency).

          Section 102.  Compliance Certificates and Opinions.
                        ------------------------------------

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

          Every certificate or opinion with respect to compliance with a
condition or covenant provided for in this Indenture shall include:

          (1)  a statement that each individual signing such certificate or
     opinion has read such covenant or condition and the definitions herein
     relating thereto;

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

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

          (4)  a statement as to whether, in the opinion of each such
     individual, such condition or covenant has been complied with.

          Section 103.  Form of Documents Delivered to Trustee.
                        --------------------------------------

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

          Any certificate or opinion of an officer of the Company may be based,
insofar as it relates to legal matters, upon a certificate or opinion of, or
representations by, counsel, unless such officer knows, or in the exercise of
reasonable care should know, that the certificate or opinion or representations
with respect to the matters upon which his certificate or opinion is based are
erroneous. Any such certificate or Opinion of Counsel may be based, insofar as
it relates to factual matters, upon a certificate or opinion of, or
representations by, an officer or officers of the Company stating that the
information with respect to such factual matters is in the possession of the
Company, unless each counsel knows, or in the exercise of reasonable care should
know, that the certificate or opinion or representations with respect to such
matters are erroneous.
<PAGE>

                                                                              10

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

          Section 104.  Acts of Holders.
                        ---------------

          (a)  Any request, demand, authorization, direction, notice, consent,
waiver or other action provided by this Indenture to be given or taken by
Holders may be embodied in and evidenced by one or more instruments of
substantially similar tenor signed by such Holders in person or by agent duly
appointed in writing; and, except as herein otherwise expressly provided, such
action shall become effective when such instrument or instruments are delivered
to the Trustee and, where it is hereby expressly required, to the Company.  Such
instrument or instruments (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the "Act" of the Holders signing
such instrument or instruments.  Proof of execution of any such instrument or of
a writing appointing such agent shall be sufficient for any purpose of this
Indenture and (subject to Section 601) conclusive in favor of the Trustee and
the Company, if made in the manner provided in this Section.

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

          (c)  The ownership of Securities shall be proved by the Security
Register.

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

          Section 105.  Notices, Etc., to Trustee and Company.
                        -------------------------------------

          Any request, demand, authorization, direction, notice, consent, waiver
or Act of Holders or other document provided or permitted by this Indenture to
be made upon, given or furnished to, or filed with,

          (1)  the Trustee by any Holder or by the Company shall be sufficient
     for every purpose hereunder if made, given, furnished or filed in writing
     to or with the Trustee at its Corporate Trust Office, or

          (2)  the Company by the Trustee or by any Holder shall be sufficient
     for every purpose hereunder (unless otherwise herein expressly provided) if
     in writing and mailed, first-class postage prepaid, to the Company
     addressed to the attention of its General Counsel at 133 Peachtree Street,
     N.E., Atlanta, Georgia 30303 or at any other address previously furnished
     in writing to the Trustee by the Company.
<PAGE>

                                                                              11

          Section 106.  Notice to Holders; Waiver.
                        -------------------------

          Where this Indenture provides for notice to Holders of any event, such
notice shall be sufficiently given (unless otherwise herein expressly provided)
if in writing and mailed, first class postage prepaid, to each Holder affected
by such event, at his address as it appears in the Security Register, not later
than the latest date, and not earlier than the earliest date, prescribed for the
giving of such notice.  In any case where notice to Holders is given by mail,
neither the failure to mail such notice, nor any defect in any notice so mailed,
to any particular Holder shall affect the sufficiency of such notice with
respect to other Holders.  Where this Indenture provides for notice in any
manner, such notice may be waived in writing by the Person entitled to receive
such notice, either before or after the event, and such waiver shall be the
equivalent of such notice.  Waivers of notice by Holders shall be filed with the
Trustee, but such filing shall not be a condition precedent to the validity of
any action taken in reliance upon such waiver.

          In case by reason of the suspension of regular mail service or by
reason of any other cause it shall be impracticable to give such notice by mail,
then notification as shall be made with the approval of the Trustee shall
constitute a sufficient notification for every purpose hereunder.

          Section 107.  Conflict With Trust Indenture Act.
                        ---------------------------------

          If any provision hereof limits, qualifies or conflicts with a
provision of the Trust Indenture Act that is required under such Act to be part
of and govern this Indenture, the latter provision shall control.  If any
provision of this Indenture modifies or excludes any provision of the Trust
Indenture Act that may be so modified or excluded, the latter provision shall be
deemed to apply to this Indenture as so modified or to be excluded, as the case
may be.

          Section 108.  Effect of Headings and Table of Contents.
                        ----------------------------------------

          The Article and Section headings herein and the Table of Contents are
for convenience only and shall not affect the construction hereof.

          Section 109.  Successors and Assigns.
                        ----------------------

          All covenants and agreements in this Indenture by the Company shall
bind its successors and assigns, whether so expressed or not.

          Section 110.  Separability Clause.
                        -------------------

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

          Section 111.  Benefits of Indenture.
                        ---------------------

          Nothing in this Indenture or in the Securities, express or implied,
shall give to any Person, other than the parties hereto and their successors
hereunder, the holders of Senior Indebtedness and Additional Senior Obligations
and the Holders, any benefit or any legal or equitable right, remedy or claim
under this Indenture.
<PAGE>

                                                                              12

          Section 112.  Governing Law.
                        -------------

          This Indenture and the Securities shall be governed by and construed
in accordance with the laws of the State of New York.

          Section 113.  Legal Holidays.
                        --------------

          In any case where any Interest Payment Date, Redemption Date or Stated
Maturity of any Security shall not be a Business Day at any Place of Payment,
then (notwithstanding any other provision of this Indenture or of the
Securities) payment of interest or principal (and premium, if any) need not be
made at such Place of Payment on such date, but may be made on the next
succeeding Business Day at such Place of Payment with the same force and effect
as if made on the Interest Payment Date or Redemption Date, or at the Stated
Maturity, provided that no interest shall accrue for the period from and after
such Interest Payment Date, Redemption Date or Stated Maturity, as the case may
be.

                                  ARTICLE TWO
                                SECURITY FORMS

          Section 201.  Forms Generally.
                        ---------------

          The Securities of each series shall be in substantially the form set
forth in this Article, or in such other form as shall be established by or
pursuant to a Board Resolution 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
such letters, numbers or other marks of identification and such legends or
endorsements placed thereon as may be required to comply with the rules of any
securities exchange or as may, consistently herewith, be determined by the
officers executing such Securities, as evidenced by their execution of the
Securities.  If the form of Securities of any series is established by action
taken pursuant to a Board Resolution, a copy of an appropriate record of such
action shall be certified by the Secretary or an Assistant Secretary of the
Company and delivered to the Trustee at or prior to the delivery of the Company
Order contemplated by Section 303 for the authentication and delivery of such
Securities.

          The Trustee's certificates of authentication shall be in substantially
the form set forth in this Article.

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

          Section 202.  Form of Face of Security.
                        ------------------------

          THIS SECURITY IS NOT A DEPOSIT AND IS NOT INSURED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION OR ANY GOVERNMENTAL AGENCY.

          [If the Security is an Original Issue Discount Security, insert -- FOR
PURPOSES OF SECTION 1273 OF THE UNITED STATES INTERNAL REVENUE CODE OF 1986, AS
AMENDED, THE ISSUE PRICE OF THIS SECURITY IS    % OF ITS PRINCIPAL AMOUNT AND
THE ISSUE DATE IS ____________, 19__.]
<PAGE>

                                                                              13

                          GEORGIA-PACIFIC CORPORATION
                     ___________ Subordinated _____________
                             due __________________

No. _______________                                     $___________

          GEORGIA-PACIFIC CORPORATION, a Georgia corporation (hereinafter called
the "Company", which term includes any successor corporation under the Indenture
hereinafter referred to), for value received, hereby promises to pay to
______________, or registered assigns, the principal sum of ___________________
Dollars on _________________ [If the Security is to bear interest prior to
Maturity, insert--, and to pay interest thereon from _____________, or from the
most recent Interest Payment Date to which interest has been paid or duly
provided for, semi-annually on ______________ and ____________ in each year,
commencing ________________, at the rate of _____% per annum, [If applicable,
insert method of calculation of floating rate,] until the principal hereof is
paid or made available for payment [If applicable, insert--, and (to the extent
that the payment of such interest shall be legally enforceable) at the rate of
____% per annum on any overdue principal and premium and on any overdue
installment of interest].  The interest so payable, and punctually paid or duly
provided for, on any Interest Payment Date will, as provided in such Indenture,
be paid to the Person in whose name this Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date
for such interest, which shall be the ___________ or ____________ (whether or
not a Business Day), as the case may be, next preceding such Interest Payment
Date.  Any such interest not so punctually paid or duly provided for will
forthwith cease to be payable to the Holder on such Regular Record Date and may
either be paid to the Person in whose name this Security (or one or more
Predecessor Securities) is registered at the close of business on a Special
Record Date for the payment of such Defaulted Interest to be fixed by the
Trustee, notice whereof shall be given to Holders of Securities of this series
not less than 10 days prior to such Special Record Date, or be paid at any time
in any other lawful manner not inconsistent with the requirements of any
securities exchange on which the Securities of this series may be listed, and
upon such notice as may be required by such exchange, all as more fully provided
in said Indenture].

          [If the Security is not to bear interest prior to Maturity, insert--
The principal of this Security shall not bear interest except in the case of a
default in payment of principal upon acceleration, upon redemption or at Stated
Maturity and in such case the overdue principal of this Security shall bear
interest at the rate of     % per annum (to the extent that the payment of such
interest shall be legally enforceable), which shall accrue from the date of such
default in payment to the date payment of such principal has been made or duly
provided for.  Interest on any overdue principal shall be payable on demand.
Any such interest on any overdue principal that is not so paid on demand shall
bear interest at the rate of     % per annum (to the extent that the payment of
such interest shall be legally enforceable), which shall accrue from the date of
such demand for payment to the date payment of such interest has been made or
duly provided for, and such interest shall also be payable on demand.]

          Payment of the principal of (and premium, if any) and [if applicable,
insert-- any such] interest on this Security will be made at the offices or
agencies of the Trustee maintained for that purpose in New York, New York
[describe relevant currency] [if applicable, insert--; provided, however, that
at the option of the Company payment of interest may be made by check drawn upon
any Paying Agent and mailed on or prior to an Interest Payment Date to the
address of the Person entitled thereto as such address shall appear in the
Security Register.]
<PAGE>

                                                                              14

          REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS SECURITY
SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES
HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE.

          Unless the certificate of authentication hereon has been executed by
the Trustee referred to on the reverse hereof, directly or through an
authenticating agent, by the manual signature of an authorized signer, this
Security shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose.

          IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed under its corporate seal.

Dated:

                              GEORGIA-PACIFIC CORPORATION

                              By ___________________________

[Seal]

Attest:

_______________________
<PAGE>

                                                                              15

          Section 203.  Form of Reverse of Security.
                        ---------------------------

          This Security is one of a duly authorized issue of securities of the
Company (herein called the "Securities"), issued and to be issued in one or more
series under an Indenture, dated as of June __, 1999 (herein called the
"Indenture") between the Company and The Bank of New York, as Trustee (herein
called the "Trustee", which term includes any successor trustee under the
Indenture), to which Indenture and all indentures supplemental thereto reference
is hereby made for a statement of the respective rights, limitations of rights,
duties and immunities thereunder of the Company, the Trustee, the holders of
Senior Indebtedness, the holders of Additional Senior Obligations and the
Holders of the Securities and of the terms upon which the Securities are, and
are to be, authenticated and delivered. This Security is one of the series
designated on the face hereof [, limited in aggregate principal amount to
$________].

          [If applicable, insert--  The Securities of this series are subject to
redemption upon not less than 30 days notice by mail, [if applicable, insert--
(1) on _______________ in any year commencing with the year ____ and ending with
the year ____ through operation of the sinking fund for this series at a
Redemption Price equal to 100% of the principal amount, and (2)] at any time [on
or after ___________, ____], as a whole or in part, at the election of the
Company, at the following Redemption Prices (expressed as percentages of the
principal amount):  If redeemed [on or before _________________, ____% and if
redeemed] during the 12-month period beginning ______________ of the years
indicated,

Year                    Redemption Price   Year          Redemption Price
----                    ----------------   ----          ----------------

and thereafter at a Redemption Price equal to ____% of the principal amount,
together in the case of any such redemption [If applicable, insert-- (whether
through operation of the sinking fund or otherwise)] with accrued interest to
the Redemption Date, but interest installments whose Stated Maturity is on or
prior to such Redemption Date will be payable to the Holders of such Securities,
or one or more Predecessor Securities, of record at the close of business, on
the relevant Record Dates referred to on the face hereof, all as provided in the
Indenture.]

          [If applicable, insert-- The Securities of this series are subject to
redemption upon not less than 30 days notice by mail, (1) on _____________ in
any year commencing with the year ___________ and ending with the year
__________ through operation of the sinking fund for this series at the
Redemption Prices for redemption through operation of the sinking fund
(expressed as percentages of the principal amount) set forth in the table below,
and (2) at any time [on or after _____________], as a whole or in part, at the
election of the Company, at the Redemption Prices for redemption otherwise than
through operation of the sinking fund (expressed as percentages of the principal
amount) set forth in the table below:  If redeemed during the 12-month period
beginning ____________ of the years indicated,
<PAGE>

                                                                              16

                   Redemption Price               Redemption Price
               For Redemption Through         For Redemption Otherwise
                     Operation                 Than Through Operation
Year            of the Sinking Fund             of the Sinking Fund
----            -------------------             -------------------

and thereafter at a Redemption Price equal to ____% of the principal amount,
together in the case of any such redemption (whether through operation of the
sinking fund or otherwise) with accrued interest to the Redemption Date, but
interest installments whose Stated Maturity is on or prior to such Redemption
Date will be payable to the Holders of such Securities, or one or more
Predecessor Securities, of record at the close of business on the relevant
Record Dates referred to on the face hereof, all as provided in the Indenture.]

          [Notwithstanding the foregoing, the Company may not, prior to
_________, redeem any Securities of this series as contemplated by [Clause (2)
of] the preceding paragraph as a part of, or in anticipation of, any refunding
operation by the application, directly or indirectly, of moneys borrowed having
an interest cost to the Company (calculated in accordance with generally
accepted financial practice) of less than ____% per annum.]

          [The sinking fund for this series provides for the redemption on
____________ in each year beginning with the year _____ and ending with the year
____ of [not less than] $_______ [("mandatory sinking fund") and not more than
$_________] aggregate principal amount of Securities of this series.
[Securities of this series acquired or redeemed by the Company otherwise than
through [mandatory] sinking fund payments may be credited against subsequent
[mandatory] sinking fund payments otherwise required to be made.]

          In the event of redemption of this Security in part only, a new
Security or Securities of this series for the unredeemed portion hereof will be
issued in the name of the Holder hereof upon the cancellation hereof.

          In any case where any Interest Payment Date, Redemption Date or Stated
Maturity of any Security shall not be a Business Day at any Place of Payment,
then (notwithstanding any other provision of the Indenture or of this Security)
payment of interest or principal (and premium, if any) need not be made at such
Place of Payment on such date, but may be made on the next succeeding Business
Day at such Place of Payment with the same force and effect as if made on the
Interest Payment Date or Redemption Date, or at the Stated Maturity, provided
that no interest shall accrue for the period from and after such Interest
Payment Date, Redemption Date or Stated Maturity, as the case may be.

          The indebtedness evidenced by this Security is unsecured and, to the
extent provided in the Indenture, subordinate and subject in right of payment to
the prior payment in full of all Senior Indebtedness and, under certain
circumstances, to Additional Senior Obligations, and this Security is issued
subject to the provisions of the Indenture with respect thereto.  Each Holder of
this Security, by accepting the same, (a) agrees to and shall be bound by such
provisions and (b) authorizes and directs the Trustee on his behalf to take such
action as may be necessary or appropriate to effectuate the subordination so
provided.
<PAGE>

                                                                              17

          [If the Security is not an Original Issue Discount Security,-- If an
Event of Default (as defined in the Indenture) with respect to the Company shall
occur and be continuing, the principal of the Securities of this series may be
declared due and payable in the manner and with the effect provided in the
Indenture.]

          [If the Security is an Original Issue Discount Security,-- If an Event
of Default (as defined in the Indenture) with respect to the Company shall occur
and be continuing, an amount of principal of the Securities of this series may
be declared due and payable in the manner and with the effect provided in the
Indenture.  Such amount shall be equal to -- insert formula for determining the
amount.  Upon payment (i) of the amount of principal so declared due and payable
and (ii) of interest on any overdue principal and overdue interest (in each case
to the extent that the payment of such interest shall be legally enforceable),
all of the Company's obligations in respect of the payment of the principal of
and interest, if any, on the Securities of this series shall terminate.]

          The Indenture permits, with certain exceptions as therein provided,
the amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Securities of each series to be
affected under the Indenture at any time by the Company and the Trustee with the
consent of the Holders of 66% in principal amount of the Securities at the time
Outstanding of each series to be affected.  The Indenture also contains
provisions permitting the Holders of specified percentages in aggregate
principal amount of the Securities of each series at the time Outstanding, on
behalf of the Holders of all Securities of such series, to waive compliance by
the Company with certain provisions of the Indenture and certain past defaults
under the Indenture and their consequences.  Any such consent or waiver by the
Holder of this Security shall be conclusive and binding upon such Holder and
upon all future Holders of this Security and of any Security issued upon the
registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Security.

          No reference herein to the Indenture and no provision of this Security
or of the Indenture shall alter or impair the obligation of the Company, which
is absolute and unconditional, to pay the principal of (and premium, if any) and
interest on this Security at the times, place and rate, and in the coin or
currency, herein prescribed.

          As provided in the Indenture and subject to certain limitations
therein set forth, the transfer of this Security is registrable in the Security
Register, upon surrender of this Security for registration of transfer at the
office or agency of the Company in any place where the principal of (and
premium, if any) and interest on this Security are payable, duly endorsed by, or
accompanied by a written instrument of transfer in form satisfactory to the
Company and the Security Registrar duly executed by, the Holder hereof or his
attorney duly authorized in writing, and thereupon one or more new Securities of
this series, of authorized denominations and for the same aggregate principal
amount, will be issued to the designated transferee or transferees.

          The Securities of this series are issuable only in registered form
without coupons in denominations of $_________ and any integral multiple
thereof.  As provided in the Indenture and subject to certain limitations
therein set forth, Securities of this series are exchangeable for a like
aggregate principal amount of Securities of this series of a different
authorized denomination, as requested by the Holder surrendering the same.
<PAGE>

                                                                              18

          No service charge shall be made for any such registration of transfer
or exchange, but the Company may require payment of a sum sufficient to cover
any tax or other governmental charge payable in connection therewith.

          The Indenture provides that a Subsidiary may assume the obligations of
the Company under the Indenture and the Securities, subject to the satisfaction
of certain conditions, including the Company's guaranteeing of the Subsidiary's
obligations under this Security and the Indenture.

          Prior to due presentment of this Security for registration of
transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Security is registered as the owner
hereof for all purposes, whether or not this Security shall be overdue, and
neither the Company, the Trustee nor any such agent shall be affected by notice
to the contrary.

          All terms used in this Security which are defined in the Indenture
shall have the meanings assigned to them in the Indenture.

          Section 204.  Form of Trustee's Certificate of Authentication.
                        -----------------------------------------------

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

                                By  ____________________________
                                     [NAME OF TRUSTEE]
                                          as Trustee

          Section 205.  Issuance of Book-Entry Securities.
                        ---------------------------------

          Any Book-Entry Security authenticated and issued hereunder shall, in
addition to the provisions contained in Section 202 and 203, bear a legend in
substantially the following form, subject to modification by the Depositary:

          "This Security is a Book-Entry Security within the meaning of the
     Indenture hereinafter referred to and is registered in the name of a
     Depositary or a nominee of a Depositary.  This Security is exchangeable for
     Securities registered in the name of a person other than the Depositary or
     its nominee only in the limited circumstances described in the Indenture
     and 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."

          Any Book-Entry Security issued hereunder may provide that it shall
represent the aggregate amount of Outstanding Securities from time to time
endorsed thereon and may also provide that the aggregate may from time to time
be reduced to reflect exchanges or increased to reflect the issuance of
additional uncertificated Securities of such series.  Any endorsement of a Book-
Entry Security to reflect the amount, or any increase or decrease in the amount,
of Outstanding Securities represented thereby shall be made by the Trustee and
in such manner as shall be specified in such
<PAGE>

                                                                              19

Security or the Company Order to be delivered to the Trustee pursuant to Section
303. Any instructions by the Company with respect to a Book-Entry Security,
after its initial issuance, shall be in writing but need not comply with Section
102.

          Each Depositary designated pursuant to Section 301 for a Book-Entry
Security must, at the time of its designation and at all times while it serves
as Depositary, be a clearing agency registered under the Securities Exchange Act
of 1934, as amended, and any other applicable statute or regulation.

          Book-Entry Securities may be issued only in registered form and in
either temporary or permanent form.

                                 ARTICLE THREE

                                THE SECURITIES

          Section 301.  Amount Unlimited; Issuable in Series.
                        ------------------------------------

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

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

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

          (2)  any limit upon the aggregate principal amount of the Securities
     of the series which may be authenticated and delivered under this Indenture
     (except for Securities authenticated and delivered upon registration of
     transfer of, or in exchange for, or in lieu of, other Securities of the
     series pursuant to Section 304, 305, 306, 906 or 1107);

          (3)  the date or dates on which the principal of the Securities of the
     series is payable;

          (4)  the rate or rates at which the Securities of the series shall
     bear interest, if any, the date or dates from which such interest shall
     accrue, the Interest Payment Dates on which such interest shall be payable
     and the Regular Record Date for the interest payable on any Interest
     Payment Date;

          (5)  the place or places, if any, in addition to New York, New York,
     where the principal of (and premium, if any) and interest on Securities of
     the series shall be payable;

          (6)  the period or periods within which, the price or prices at which
     and the terms and conditions upon which Securities of the series may be
     redeemed, in whole or in part, at the option of the Company;

          (7)  the obligation, if any, of the Company to redeem or purchase
     Securities of the series pursuant to any sinking fund or analogous
     provisions or at the option of a Holder thereof and the
<PAGE>

                                                                              20

     period or periods within which, the price or prices at which and the terms
     and conditions upon which Securities of the series shall be redeemed or
     purchased, in whole or in part, pursuant to such obligation;

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

          (9)  the currency or currencies, including composite currencies, in
     which payment of the principal of and any premium and interest on the
     Securities of the series shall be payable if other than the currency of the
     United States of America;

          (10) if the amount or payments of principal of and any premium or
     interest on the Securities of the series may be determined with reference
     to an index, the manner in which such amounts shall be determined;

          (11) if other than the principal amount thereof, the portion of the
     principal amount of Securities of the series which shall be payable upon
     declaration of acceleration of the Maturity thereof pursuant to Section
     502;

          (12) whether the Securities of the series will be convertible into
     shares of Georgia-Pacific Group Stock or Timber Stock, as applicable, and
     if so, the terms and conditions, which may be in addition to or in lieu of
     the provisions of Article Fifteen, upon which such Securities will be so
     convertible, including the Conversion Price and the conversion period;

          (13) the form of the Securities, and the extent, if any, to which any
     of the Securities will be issuable in Book-Entry form and, in such case,
     the Depositary for such Book-Entry Security or Securities, and the terms
     and conditions, if any, upon which such Book-Entry Security may be
     exchanged in whole or in part for definitive Securities, if other than as
     set forth in Section 305; and

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

          All Securities of any one series shall be substantially identical
except as to denomination and except as may otherwise be provided in or pursuant
to such Board Resolution and set forth in such Officers' Certificate or in any
such indenture supplemental hereto.

          At the option of the Company, interest on the Securities of any series
that bears interest may be paid by mailing a check to the address of the person
entitled thereto as such address shall appear in the Securities Register.

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

          The Securities shall be subordinated to Senior Indebtedness and, under
certain circumstances, to Additional Senior Obligations as provided in Article
Thirteen.
<PAGE>

                                                                              21

          Section 302.  Denominations.
                        -------------

          The Securities of each series shall be issuable in registered form
without coupons in such denominations as shall be specified as contemplated by
Section 301.  In the absence of any such provisions with respect to the
Securities of any series, the Securities of such series shall be issuable in
denominations of $1,000 and any integral multiple thereof.

          Section 303.  Execution, Authentication, Delivery and Dating.
                        ----------------------------------------------

          The Securities shall be executed on behalf of the Company by its
President or one of its Executive Vice Presidents, under its corporate seal
reproduced thereon attested by its Secretary or one of its Assistant
Secretaries.  The signature of any of these officers on the Securities may be
manual or facsimile.

          Securities bearing the manual or facsimile signatures of individuals
who were at any time the proper officers of the Company shall bind the Company,
notwithstanding that such individuals or any of them have ceased to hold such
offices prior to the authentication and delivery of such Securities or did not
hold such offices at the date of such Securities.

          At any time and from time to time after the execution and delivery of
this Indenture, the Company may deliver Securities of any series executed by the
Company to the Trustee for authentication, together with a Company Order for the
authentication and delivery of such Securities, and the Trustee in accordance
with the Company Order and subject to the provisions hereof shall authenticate
and deliver such Securities.  If the form or terms of the Securities of the
series have been established in or pursuant to one or more Board Resolutions as
permitted by Sections 201 and 301, in authenticating such Securities, and
accepting the additional responsibilities under this Indenture in relation to
such Securities, the Trustee shall be entitled to receive, and (subject to
Section 601) shall be fully protected in relying upon, an Opinion of Counsel
stating:

          (a)  if the form of such Securities has been established by or
     pursuant to Board Resolution as permitted by Section 201, that such form
     has been established in conformity with the provisions of this Indenture;

          (b)  if the terms of such Securities have been established by or
     pursuant to Board Resolution as permitted by Section 301, that such terms
     have been established in conformity with the provisions of this Indenture;
     and

          (c)  that all conditions precedent to the authentication and delivery
     of such Securities have been complied with and that such Securities, when
     authenticated and delivered by the Trustee and issued by the Company in the
     manner and subject to any conditions specified in such Opinion of Counsel,
     will constitute valid and legally binding obligations of the Company,
     enforceable in accordance with their terms, subject to bankruptcy,
     insolvency, reorganization and other laws of general applicability relating
     to or affecting the enforcement of creditors rights and to general equity
     principles.

          If such form or terms have been so established, the Trustee shall not
be required to authenticate such Securities if the issue of such Securities
pursuant to this Indenture will affect the Trustee's own rights, duties or
immunities under the Securities and this Indenture or otherwise in a manner
which is not reasonably acceptable to the Trustee.
<PAGE>

                                                                              22

          Each Security shall be dated the date of its authentication.

          No Security shall be entitled to any benefit under this Indenture or
be valid or obligatory for any purpose unless there appears on such Security a
certificate of authentication substantially in the form provided for herein
executed by the Trustee by manual signature, and such certificate upon any
Security shall be conclusive evidence, and the only evidence, that such Security
has been duly authenticated and delivered hereunder and is entitled to the
benefits of this Indenture.

          If the Company shall establish pursuant to Section 301 that the
Securities of a series are to be issued in whole or in part in the form of one
or more Book-Entry Securities, then the Company shall execute and the Trustee
shall, in accordance with this Section and a Company Order for the
authentication and delivery of such Book-Entry Securities with respect to such
series, authenticate and deliver one or more Book-Entry Securities in permanent
or temporary form that (i) shall represent and shall be denominated in an
aggregate amount equal to the aggregate principal amount of the Outstanding
Securities of such series to be represented by one or more Book-Entry
Securities, (ii) shall be registered in the name of the Depositary for such
Book-Entry Security or Securities or the nominee of such Depositary and (iii)
shall be delivered by the Trustee to such Depositary or pursuant to such
Depositary's instructions.

          Section 304.  Temporary Securities.
                        --------------------

          Pending the preparation of definitive Securities of any series, the
Company may execute, and upon Company Order the Trustee shall authenticate and
deliver, temporary Securities which are printed, lithographed, typewritten,
mimeographed or otherwise produced, in any authorized denomination,
substantially of the tenor of the definitive Securities in lieu of which they
are issued and with such appropriate insertions, omissions, substitutions and
other variations as the officers executing such Securities may determine, as
evidenced by their execution of such Securities.

          If temporary Securities of any series are issued, the Company will
cause definitive Securities of that series to be prepared without unreasonable
delay.  After the preparation of definitive Securities of such series, the
temporary Securities of such series shall be exchangeable for definitive
Securities of such series upon surrender of the temporary Securities of such
series at the office or agency of the Company in a Place of Payment for that
series, without charge to the Holder.  Upon surrender for cancellation of any
one or more temporary Securities of any series, the Company shall execute and
the Trustee shall authenticate and deliver in exchange therefor a like principal
amount of definitive Securities of the same series of authorized denominations.
Until so exchanged the temporary Securities of any series shall in all respects
be entitled to the same benefits under this Indenture as definitive Securities
of such series.

          Section 305.  Registration, Registration of Transfer and Exchange.
                        ---------------------------------------------------

          The Company shall cause to be kept at the office of the Security
Registrar designated pursuant to this Section 305 or Section 1002 a register
(being the combined register of the Security Registrar and any Co-Security
Registrars and herein sometimes collectively referred to as the "Security
Register") in which, subject to such reasonable regulations as it may prescribe,
the Company shall provide for the registration of Securities and for transfers
of Securities.  The Trustee is hereby initially appointed "Security Registrar"
for the purpose of registering Securities as herein provided.
<PAGE>

                                                                              23

          Upon surrender for registration of transfer of any Security of any
series at the office or agency in a Place of Payment for that series, the
Company shall execute, and the Trustee shall authenticate and deliver, in the
name of the designated transferee or transferees, one or more new Securities of
the same series, of any authorized denominations and of a like aggregate
principal amount.

          At the option of the Holder, Securities of any series may be exchanged
for other Securities of the same series, of any authorized denominations and of
a like aggregate principal amount, upon surrender of the Securities to be
exchanged at such office or agency.  Whenever any Securities are so surrendered
for exchange, the Company shall execute, and the Trustee shall authenticate and
deliver, the Securities which the Holder making the exchange is entitled to
receive.

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

          Every Security presented or surrendered for registration of transfer
or for exchange shall (if so required by the Company, the Security Registrar or
any Co-Security Registrar) be duly endorsed, or be accompanied by a written
instrument of transfer in form satisfactory to the Company, the Security
Registrar or such Co-Security Registrar duly executed, by the Holder thereof or
his attorney duly authorized in writing.

          No service charge shall be made for any registration of transfer or
exchange of Securities, but 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 registration of transfer or exchange of Securities, other than
exchanges pursuant to Section 304, 906 or 1107 not involving any transfer.

          Neither the Company, the Security Registrar nor any Co-Security
Registrar shall be required (i) to issue, register the transfer of or exchange
Securities of any series during a period beginning at the opening of business 15
days before the day of the mailing of a notice of redemption of Securities of
that series selected for redemption under Section 1103 and ending at the close
of business on the day of such mailing, or (ii) to register the transfer of or
exchange any Security so selected for redemption in whole or in part, except the
unredeemed portion of any Security being redeemed in part.

          If at any time the Depositary for the Securities of a series notifies
the Company that it is unwilling or unable to continue as Depositary for the
Securities of such series or if at any time the Depositary for the Securities of
such series shall no longer be eligible under Section 205, the Company shall
appoint a successor Depositary with respect to the Securities of such series.
If a successor Depositary for the Securities of such series is not appointed by
the Company within 90 days after the Company receives such notice or becomes
aware of such ineligibility, the Company's election pursuant to Section 301(13)
shall no longer be effective with respect to the Securities of such series and
the Company will execute, and the Trustee, upon receipt of a Company Order for
the authentication and delivery of definitive Securities of such series, will
authenticate and deliver Securities of such series of like tenor and terms in
definitive form in an aggregate principal amount equal to the principal amount
of the Book-Entry Security or Securities representing such series in exchange
for such Book-Entry Security or Securities.

          The Company may at any time and in its sole discretion determine that
the Securities of any series issued in the form of one or more Book-Entry
Securities shall no longer be represented by such Book-Entry Security or
Securities.  In such event, the Company will execute, and the Trustee, upon
<PAGE>

                                                                              24

receipt of a Company Order for the authentication and delivery of definitive
Securities of such series, will authenticate and deliver Securities of such
series of like tenor and terms in definitive form in an aggregate principal
amount equal to the principal amount of the Book-Entry Security or Securities
representing such series in exchange for such Book-Entry Security or Securities.

          If specified by the Company pursuant to Section 301 with respect to a
series of Securities, or if an Event of Default, or an event which with notice,
lapse of time or both would be an Event of Default with respect to the
Securities of such series has occurred and is continuing, a Person owning a
beneficial interest in a Book-Entry Security for Securities of such series may
instruct the Depositary for such series of Securities to surrender such Book-
Entry Security for such series of Securities in exchange in whole or in part for
Securities of such series of like tenor in definitive registered form.
Thereupon, the Company shall execute, and the Trustee shall authenticate and
deliver, without service charge:

          (a)  to the Person specified by such Depositary a new Security or
     Securities of the same series, of like tenor, of any authorized
     denomination as requested by such Person, in an aggregate principal amount
     equal to and in exchange for such Person's beneficial interest in the Book-
     Entry Security; and

          (b)  to such Depositary a new Book-Entry Security of like tenor in an
     authorized denomination equal to the difference, if any, between the
     principal amount of the surrendered Book-Entry Security and the aggregate
     principal amount of Securities delivered pursuant to clause (a) above.

          Upon the exchange of a Book-Entry Security for Securities in
definitive form, such Book-Entry Security shall be cancelled by the Trustee.
Securities issued in exchange for a Book-Entry Security pursuant to this Section
shall be registered in such names and in such authorized denominations, and
delivered to such addresses, as the Depositary for such Book-Entry Security,
pursuant to instructions from its direct or indirect participants or otherwise,
shall instruct the Trustee in writing.  The Trustee shall deliver such
Securities to the Persons in whose names such Securities are so registered or to
the Depositary.

          Notwithstanding any other provision of this Section, unless and until
it is exchanged in whole or in part for Securities in definitive registered
form, a Book-Entry Security representing all or a portion of the 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.

          Section 306.  Mutilated, Destroyed, Lost and Stolen Securities.
                        ------------------------------------------------

          If any mutilated Security is surrendered to the Trustee and there is
delivered to the Company and the Trustee such security or indemnity as may be
required by them to save each of them and any agent of either of them harmless
then the Company shall execute and the Trustee shall authenticate and deliver in
exchange therefor a new Security of the same series and of like tenor and
principal amount and bearing a number not contemporaneously outstanding.

          If there shall be delivered to the Company and the Trustee (i)
evidence to their satisfaction of the destruction, loss or theft of any Security
and (ii) such security or indemnity as may be
<PAGE>

                                                                              25

required by them to save each of them and any agent of either of them harmless,
then, in the absence of notice to the Company or the Trustee that such Security
has been acquired by a bona fide purchaser, the Company shall execute and upon
its request the Trustee shall authenticate and deliver, in lieu of any such
destroyed, lost or stolen Security, a new Security of the same series and of
like tenor and principal amount and bearing a number not contemporaneously
outstanding.

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

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

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

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

          Section 307.  Payment of Interest; Interest Rights Preserved.
                        ----------------------------------------------

          Interest on any Security which is payable, and is punctually paid or
duly provided for, on any Interest Payment Date shall be paid to the Person in
whose name that Security (or one or more Predecessor Securities) is registered
at the close of business on the Regular Record Date for such interest.

          Any interest on any Security of any series which is payable, but is
not punctually paid or duly provided for, on any Interest Payment Date (herein
called "Defaulted Interest") shall forthwith cease to be payable to the Holder
on the relevant Regular Record Date by virtue of having been such Holder, and
such Defaulted Interest may be paid by the Company, at its election in each
case, as provided in Clause (1) or (2) below:

          (1) The Company may elect to make payment of any Defaulted Interest to
     the Persons in whose name the Securities of such series (or their
     respective Predecessor Securities) are registered at the close of business
     on a Special Record Date for the payment of such Defaulted Interest, which
     shall be fixed in the following manner.  The Company shall notify the
     Trustee in writing of the amount of Defaulted Interest proposed to be paid
     on each Security of such series and the date of the proposed payment, and
     at the same time the Company shall deposit with the Trustee an amount of
     money equal to the aggregate amount proposed to be paid in respect of such
     Defaulted Interest or shall make arrangements satisfactory to the Trustee
     for such deposit prior to the date of the proposed payment, such money when
     deposited to be held in trust for the benefit of the Persons entitled to
     such Defaulted Interest as in this Clause provided. Thereupon the Trustee
     shall fix a Special Record Date for the payment of such Defaulted Interest
<PAGE>

                                                                              26

     which shall not be more than 15 days and not less than 10 days prior to the
     date of the proposed payment and not less than 10 days after the receipt by
     the Trustee of the notice of the proposed payment.  The Trustee shall
     promptly notify the Company of such Special Record Date and, in the name
     and at the expense of the Company, shall cause notice of the proposed
     payment of such Defaulted Interest and the Special Record Date thereof to
     be mailed, first-class postage prepaid, to each Holder of Securities of
     such series at his address as it appears in the Security Register, not less
     than 10 days prior to such Special Record Date.  Notice of the proposed
     payment of such Defaulted Interest and the Special Record Date therefor
     having been so mailed, such Defaulted Interest shall be paid to the Persons
     in whose names the Securities of such series (or their respective
     Predecessor Securities) are registered at the close of business on such
     Special Record Date and shall no longer be payable pursuant to the
     following Clause (2).

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

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

          Section 308.  Persons Deemed Owners.
                        ---------------------

          Prior to due presentment of a Security for registration of transfer,
the Company, the Trustee and any agent of the Company or the Trustee may treat
the Person in whose name such Security is registered as the owner of such
Security for the purpose of receiving payment of principal of (and premium, if
any) and (subject to Section 307) interest on such Security and for all other
purposes, whatsoever, whether or not such Security be overdue, and neither the
Company, the Trustee nor any agent of the Company or the Trustee shall be
affected by notice to the contrary.

          Section 309.  Cancellation.
                        ------------

          All Securities surrendered for payment, redemption, registration of
transfer or exchange or for credit against any sinking fund payment shall, if
surrendered to any person other than the Trustee, be delivered to the Trustee
and shall be promptly cancelled by it.  The Company may at any time deliver to
the Trustee for cancellation any Securities previously authenticated and
delivered hereunder which the Company may have acquired in any manner
whatsoever, and all Securities so delivered shall be promptly cancelled by the
Trustee.  No Securities shall be authenticated in lieu of or in exchange for any
Securities cancelled as provided in this Section, except as expressly permitted
by this Indenture.  All cancelled Securities held by the Trustee shall be
disposed of as directed by a Company Order.

          Section 310.  Computation of Interest.
                        -----------------------

          Except as otherwise contemplated by Section 301 for Securities of any
series, interest on the Securities of each series shall be computed on the basis
of a year of twelve 30-day months.
<PAGE>

                                                                              27

          Section 311.  Regarding Beneficial Ownership Interests in Book-Entry
                        ------------------------------------------------------
Securities.
----------

          Neither the Company, the Trustee, any Authenticating Agent and Paying
Agent nor the Security Registrar will have any responsibility or liability for
any aspect of the records relating to or payments made on account of beneficial
ownership interests in a Book-Entry Security or for maintaining, supervising or
reviewing any records relating to such beneficial ownership interests.

                               ARTICLE FOUR

                    SATISFACTION AND DISCHARGE; DEFEASANCE

          Section 401.  Satisfaction and Discharge of Indenture.
                        ---------------------------------------

          This Indenture shall upon Company Request cease to be of further
effect (except as to (i) remaining rights of registration of transfer,
substitution and exchange of Securities, (ii) rights hereunder of Holders to
receive payments of principal of (and premium, if any) and interest on the
Securities, and other rights, duties and obligations of the Holders as
beneficiaries hereof with respect to the amounts, if any, so deposited with the
Trustee and (iii) the rights, obligations and immunities of the Trustee
hereunder), and the Trustee, at the expense of the Company, shall execute proper
instruments acknowledging satisfaction and discharge of this Indenture, when

          (1)  either

               (A) all Securities theretofore authenticated and delivered (other
          than (i) Securities which have been destroyed, lost or stolen and
          which have been replaced or paid as provided in Section 306 and (ii)
          Securities for whose payment money has theretofore been deposited in
          trust or segregated and held in trust by the Company and thereafter
          repaid to the Company or discharged from such trust, as provided in
          Section 1003) have been delivered to the Trustee for cancellation; or

               (B) all such Securities not theretofore delivered to the Trustee
          for cancellation (i) have become due and payable, or (ii) will become
          due and payable at their Stated Maturity within one year, or (iii) are
          to be called for redemption within one year under arrangements
          satisfactory to the Trustee for the giving of notice of redemption by
          the Trustee in the name, and at the expense, of the Company; and the
          Company, in the case of (i), (ii) or (iii) above, has deposited or
          caused to be deposited with the Trustee as trust funds in trust for
          the purpose an amount sufficient to pay and discharge the entire
          indebtedness on such Securities not theretofore delivered to the
          Trustee for cancellation, for principal (and premium, if any) and
          interest to the date of such deposit (in the case of Securities which
          have become due and payable) or to the Stated Maturity or Redemption
          Date, as the case may be;

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

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

                                                                              28

In the event there are Securities of two or more series hereunder, the Trustee
shall be required to execute an instrument acknowledging satisfaction and
discharge of this Indenture only if requested to do so with respect to
Securities of all series as to which it is Trustee and if the other conditions
thereto are met.  In the event there are two or more Trustees hereunder, then
the effectiveness of any such instrument shall be conditioned upon receipt of
such instruments from all Trustees hereunder.

          Notwithstanding the satisfaction and discharge of this Indenture, the
obligations of the Company to the Trustee under Section 607, the obligations of
the Trustee to any Authenticating Agent under Section 614 and, if money shall
have been deposited with the Trustee pursuant to subclause (B) of Clause (1) of
this Section, the obligations of the Trustee under Section 405 and the last
paragraph of Section 1003 shall survive.

          Section 402.  Defeasance and Discharge.
                        ------------------------

          The following provisions shall apply to the Securities of each series
unless specifically otherwise provided in a Board Resolution, Officers'
Certificate or indenture supplemental hereto provided pursuant to Section 301.
In addition to discharge of this Indenture pursuant to Sections 401 and 403, in
the case of any series of Securities with respect to which an amount sufficient
to pay and discharge the entire indebtedness on such Securities not theretofore
delivered to the Trustee for cancellation, for principal (and premium, if any)
and interest, as certified pursuant to subparagraph (a) of Section 404 can be
determined at the time of making the deposit referred to in such subparagraph
(a), the Company shall be deemed to have paid and discharged the entire
indebtedness on all the Securities of such series as provided in this Section on
and after the date the conditions set forth in Section 404 are satisfied, and
the provisions of this Indenture with respect to the Securities of such series
shall no longer be in effect (except as to (i) rights of registration of
transfer and exchange of Securities of such series, (ii) substitution of
mutilated, defaced, destroyed, lost or stolen Securities of such series, (iii)
rights of holders of Securities of such series to receive, solely from the trust
fund described in subparagraph (a) of Section 404, payments of principal thereof
and interest, if any, thereon upon the original stated due dates therefor (but
not upon acceleration), and remaining rights of the holders of Securities of
such series to receive mandatory sinking fund payments, if any, (iv) the rights,
obligations, duties and immunities of the Trustee hereunder, (v) this Section
402 and (vi) the rights of the Holders of Securities of such series as
beneficiaries hereof with respect to the property so deposited with the Trustee
payable to all or any of them) (hereinafter called "Defeasance"), and the
Trustee at the cost and expense of the Company, shall execute proper instruments
acknowledging the same.

          Section 403. Covenant Defeasance.
                       -------------------

          In the case of any series of Securities with respect to which an
amount sufficient to pay and discharge the entire indebtedness on such
Securities not theretofore delivered to the Trustee for cancellation, for
principal (and premium, if any) and interest, as certified pursuant to
subparagraph (a) of Section 404 can be determined at the time of making the
deposit referred to in such subparagraph (a), (i) the Company shall be released
from its obligations under any covenants specified in or pursuant to this
Indenture (except as to (A) rights of registration of transfer and exchange of
Securities of such series, (B) substitution of mutilated, defaced, destroyed,
lost or stolen Securities of such series, (C) rights of Holders of Securities of
such series to receive, from the Company pursuant to Section 1001, payments of
principal thereof and interest, if any, thereon upon the original stated due
dates therefor (but not upon acceleration), and mandatory sinking fund payments,
if any, (D) the rights, obligations, duties and immunities of the Trustee
hereunder and (E) the rights of Holders of Securities of such series as
beneficiaries hereof with respect to the property so deposited with the Trustee
payable to all or any of
<PAGE>

                                                                              29

them, and (ii) the occurrence of any event specified in Section 501(4) (with
respect to any of the covenants specified in or pursuant to this Indenture) and
501(7) shall be deemed not to be or result in an Event of Default, in each case
with respect to the Outstanding Securities of such series on or after the date
the conditions set forth in Section 404 are satisfied (hereinafter called
"Covenant Defeasance"), and the Trustee, at the cost of the Company, shall
execute proper instruments acknowledging the same. For this purpose, such
Covenant Defeasance means that the Company may omit to comply with and shall
have no liability in respect of any term, condition or limitation set forth in
any such covenant (to the extent specified in the case of Section 501(4)),
whether directly or indirectly by reason of any reference elsewhere herein to
any such covenant or by reason of any reference in any such covenant to any
other provision herein or in any other document, but the remainder of this
Indenture and the Securities of such series shall be unaffected thereby.

          Section 404.  Conditions to Defeasance or Covenant Defeasance.
                        -----------------------------------------------

          The following shall be the conditions to application of Sections 402
and 403 to the Outstanding Securities of any series:

          (a)  with reference to Section 402 or 403, the Company has irrevocably
     deposited or caused to be irrevocably deposited with the Trustee as funds
     in trust, specifically pledged as security for, and dedicated solely to,
     the benefit of the Holders of Securities of such series (i) cash in an
     amount, or (ii) U.S. Government Obligations maturing as to principal and
     interest, if any, at such times and in such amounts as will insure the
     availability of cash, or (iii) a combination thereof, in each case
     sufficient, in the opinion of a nationally recognized firm of independent
     public accountants expressed in a written certification thereof delivered
     to the Trustee, to pay and discharge (A) the principal of and interest, if
     any, on all Securities of such series on each date that such principal or
     interest, if any, is due and payable, and (B) any mandatory sinking fund
     payments on the dates on which such payments are due and payable in
     accordance with the terms of this Indenture and the Securities of such
     series;

          (b)  in the case of Defeasance under Section 402, the Company has
     delivered to the Trustee an Opinion of Counsel based on the fact that (x)
     the Company has received from, or there has been published by, the Internal
     Revenue Service a ruling or (y) since the date hereof, there has been a
     change in the applicable United States Federal income tax law, in either
     case to the effect that, and such opinion shall confirm that, the Holders
     of the Securities of such series will not recognize income, gain or loss
     for United States Federal income tax purposes as a result of such deposit,
     Defeasance and discharge and will be subject to United States Federal
     income tax on the same amount and in the same manner and at the same times
     as would have been the case if such deposit, Defeasance and discharge had
     not occurred;

          (c)  in the case of Covenant Defeasance under Section 403, the Company
     has delivered to the Trustee an Opinion of Counsel to the effect that, and
     such opinion shall confirm that, the holders of the Securities of such
     series will not recognize income, gain or loss for United States Federal
     income tax purposes as a result of such deposit and Covenant Defeasance and
     will be subject to the United States 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 Covenant Defeasance had not occurred;
<PAGE>

                                                                              30

          (d)  no Event of Default or event which with notice or lapse of time
     or both would become an Event of Default shall have occurred or be
     continuing on the date of the deposit referred to in subparagraph (a);

          (e)  such Defeasance or Covenant Defeasance will not result in a
     breach or violation of, or constitute a default under, any agreement or
     instrument to which the Company is a party or by which it is bound; and

          (f)  the Company shall have delivered to the Trustee an Officers'
     Certificate and an Opinion of Counsel, each stating that all conditions
     precedent contemplated by this provision have been complied with.

          Section 405.  Deposited Money and U.S. Government Obligations to Be
                        -----------------------------------------------------
Held in Trust; Other Miscellaneous Provisions.
---------------------------------------------

          Subject to the provisions of the last paragraph of Section 1003, all
money and U.S. Government Obligations deposited with the Trustee pursuant to
Sections 401 and 404 shall be held in trust, and such money and all money from
such U.S. Government Obligations shall be applied by it, in accordance with the
provisions of the Securities and this Indenture, to the payment, either directly
or through any Paying Agent (including the Company acting as its own Paying
Agent) as the Trustee may determine, to the Persons entitled thereto, of the
principal (and premium, if any) and interest for whose payment such money and
U.S. Government Obligations has been deposited with the Trustee.

          The Company shall pay and indemnify the Trustee against any tax, fee
or other charge imposed on or assessed against the U.S. Government Obligations
deposited pursuant to Section 404 or the principal or interest received in
respect of such obligations other than any such tax, fee or other charge that by
law is for the account of the Holders of Outstanding Securities.

          Notwithstanding the foregoing provisions of this Article Four, if the
Securities of any series are payable in a coin or currency or currency unit
other than such coin or currency of the United States of America as at the time
of payment is legal tender for payment of public or private debts, the coin or
currency or currency unit or the nature of the government obligations to be
deposited with the Trustee under the foregoing provisions of this Article Four
shall be as set forth in the Officers' Certificate or established in the
supplemental indenture under which the Securities of such series are issued.

                                 ARTICLE FIVE

                                   REMEDIES

          Section 501.  Events of Default.
                        -----------------

          "Event of Default", whenever used herein with respect to Securities of
any series, means any one of the following events (whatever the reason for such
Event of Default and whether it shall be occasioned by the provisions of Article
13 or be voluntary or involuntary or be effected by operation of law or pursuant
to any judgment, decree or order of any court or any order, rule or regulation
of any administrative or governmental body):
<PAGE>

                                                                              31

          (1) default in the payment of any interest upon any Security of that
     series when it becomes due and payable, and continuance of such default for
     a period of 30 days;

          (2) default in the payment of the principal of (or premium, if any,
     on) any Security of that series at its Maturity;

          (3) default in the deposit of any sinking fund payment, when and as
     due by the terms of a Security of that series;

          (4) default in the performance, or breach, of any covenant or warranty
     of the Company in this Indenture (other than a covenant or warranty a
     default in whose performance or whose breach is elsewhere in this Section
     specifically dealt with or which has expressly been included in this
     Indenture solely for the benefit of a series of Securities other than that
     series), and continuance of such default or breach for a period of 60 days
     after there has been given, by registered or certified mail, to the Company
     by the Trustee or to the Company and the Trustee by the Holders of at least
     10% in principal amount of the Outstanding Securities of that series a
     written notice specifying such default or breach and requiring it to be
     remedied and stating that such notice is a "Notice of Default" hereunder;

          (5) the entry of a decree or order for relief in respect of the
     Company by a court having jurisdiction in the premises in an involuntary
     case under the Federal or state bankruptcy laws, as now or hereafter
     constituted, and the continuance of any such decree or order unstayed and
     in effect for a period of 60 consecutive days;

          (6) the commencement by the Company of a voluntary case under the
     Federal or state bankruptcy laws, as now or hereafter constituted, or the
     consent by the Company to the entry of a decree or order for relief in an
     involuntary case under any such law; or

          (7) any other Event of Default provided with respect to Securities of
     such series specified as contemplated by Section 301.

          Section 502.  Acceleration of Maturity; Rescission and Annulment.
                        --------------------------------------------------

          If an Event of Default with respect to Securities of any series at
that time Outstanding occurs and is continuing, then in every such case the
Trustee or the Holders of not less than 25% in principal amount of the
Outstanding Securities of such series may declare the principal amount (or, if
any Securities of such series are Original Issue Discount Securities, such
portion of the principal amount of such Original Issue Discount Securities as
may be specified in the terms of such Original Issue Discount Securities) of all
the Securities of such series to be due and payable immediately, by a notice in
writing to the Company (and to the Trustee if given by Holders), and upon any
such declaration such principal amount (or specified amount), plus accrued and
unpaid interest (and premium, if any), shall become immediately due and payable.

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

                                                                              32

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

               (A) all overdue interest on all Securities of that series,

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

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

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

          (2) all Events of Default with respect to Securities of that series,
     other than the nonpayment of the principal of Securities of such series
     which has become due solely by such declaration of acceleration, have been
     cured or waived as provided in Section 513.

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

          Section 503.  Collection of Indebtedness and Suits for Enforcement by
                        -------------------------------------------------------
Trustee.
-------

          The Company covenants that if

          (1) default is made in the payment of any interest on any Security
     when such interest becomes due and payable and such default continues for a
     period of 30 days, or

          (2) default is made in the payment of the principal of (or premium, if
     any, on) any Security at the Maturity thereof,

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

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

          If an Event of Default with respect to Securities of any series occurs
and is continuing, the Trustee may in its discretion proceed to protect and
enforce its rights and the rights of the Holders of
<PAGE>

                                                                              33

Securities of such series by such appropriate judicial proceedings as the
Trustee shall deem most effectual to protect and enforce any such rights,
whether for the specific enforcement of any covenant or agreement in this
Indenture or in aid of the exercise of any power granted herein, or to enforce
any other proper remedy.

          Section 504.  Trustee May File Proofs of Claim.
                        --------------------------------

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

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

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

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or
other similar official in any such judicial proceeding is hereby authorized by
each Holder to make such payments to the Trustee and, in the event that the
Trustee shall consent to the making of such payments directly to the Holders, to
pay to the Trustee any amount due it for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and other
amounts due the Trustee under Section 607.

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

          Section 505.   Trustee May Enforce Claims Without Possession of
                        ------------------------------------------------
Securities.
----------

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

                                                                              34

          Section 506.  Application of Money Collected.
                        ------------------------------

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

          FIRST:    To the payment of all amounts due the Trustee hereunder; and

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

          Section 507.  Limitation on Suits.
                        -------------------

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

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

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

          (3) such Holder or Holders have offered to the Trustee reasonable
     indemnity against the costs, expenses and liabilities to be incurred in
     compliance with such request;

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

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

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

          Section 508.  Unconditional Right of Holders to Receive Principal,
                        ----------------------------------------------------
Premium and Interest.
--------------------

          Notwithstanding any other provision in this Indenture, the Holder of
any Security shall have the right, which is absolute and unconditional, to
receive payment of the principal of (and premium, if any) and (subject to
Section 307) interest on such Security on the Stated Maturity or Maturities
<PAGE>

                                                                              35

expressed in such Security (or, in the case of redemption, on the Redemption
Date) and to institute suit for the enforcement of any such payment, and such
rights shall not be impaired without the consent of such Holder.

          Section 509.  Restoration of Rights and Remedies.
                        ----------------------------------

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

          Section 510.  Rights and Remedies Cumulative.
                        ------------------------------

          Except as otherwise provided with respect to the replacement or
payment of mutilated, destroyed, lost or stolen Securities in the last paragraph
of Section 306, no right or remedy herein conferred upon or reserved to the
Trustee or to the Holders is intended to be exclusive of any other right or
remedy, and every right and remedy shall, to the extent permitted by law, be
cumulative and in addition to every other right and remedy given hereunder or
now or hereafter existing at law or in equity or otherwise.  The assertion or
employment of any right or remedy hereunder, or otherwise, shall not prevent the
concurrent assertion or employment of any other appropriate right or remedy.

          Section 511.  Delay or Omission Not Waiver.
                        ----------------------------

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

          Section 512.  Control by Holders.
                        ------------------

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

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

          (2) the Trustee may take any other action deemed proper by the Trustee
     which is not inconsistent with such direction.

          Section 513.  Waiver of Past Defaults.
                        -----------------------

          The Holders of not less than a majority in principal amount of the
Outstanding Securities of any series may on behalf of the Holders of all the
Securities of such series waive any past default hereunder with respect to such
series and its consequences, except a default:
<PAGE>

                                                                              36

          (1) in the payment of the principal of (or premium, if any) or
     interest on any Security of such series, or

          (2) in respect of a covenant or provision hereof which under Article
     Nine cannot be modified or amended without the consent of the Holder of
     each Outstanding Security of such series affected.

          Upon any such waiver, such default shall cease to exist, and any Event
of Default arising therefrom shall be deemed to have been cured, for every
purpose of this Indenture; but no such waiver shall extend to any subsequent or
other default or impair any right consequent thereon.

          Section 514.  Undertaking for Costs.
                        ---------------------

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

          Section 515.  Waiver of Stay or Extension Laws.
                        --------------------------------

          The Company covenants (to the extent that it may lawfully do so) that
it will not at any time insist upon, or plead, or in any manner whatsoever claim
or take the benefit or advantage of, any stay or extension law wherever enacted,
now or at any time hereafter in force, which 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 covenants that it will not hinder, delay or impede the exercise of any power
herein granted to the Trustee, but will suffer and permit the exercise of every
such power as though no such law had been enacted.

                                  ARTICLE SIX

                                  THE TRUSTEE

          Section 601.  Certain Duties and Responsibilities.
                        -----------------------------------

          (a) Except during the continuance of an Event of Default with respect
to Securities of any series,
<PAGE>

                                                                              37

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

          (2) in the absence of bad faith on its part, the Trustee may, with
     respect to Securities of such series, conclusively rely, as to the truth of
     the statements and correctness of the opinions expressed therein, upon
     certificates or opinions furnished to the Trustee and conforming to the
     requirements of this Indenture; but in the case of any such certificates or
     opinions which by any provision hereof are specifically required to be
     furnished to the Trustee, the Trustee shall be under a duty to examine the
     same to determine whether or not they conform to the requirements of this
     Indenture.

          (b) In case an Event of Default with respect to Securities of any
series has occurred and is continuing, the Trustee shall exercise, with respect
to Securities of such series, such of the rights and powers vested in it by this
Indenture, and use the same degree of care and skill in their exercise, as a
prudent man would exercise or use under the circumstances in the conduct of his
own affairs.

          (c) No provision of this Indenture shall be construed to relieve the
Trustee from liability for its own negligent action, its own negligent failure
to act, or its own wilful misconduct, except that

          (1) this Subsection shall not be construed to limit the effect to
     Subsection (a) of this Section;

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

          (3) the Trustee shall not be liable with respect to any action taken
     or omitted to be taken by it in good faith in accordance with the Direction
     of the Holders of majority in principal amount of the Outstanding
     Securities of any series, determined as provided in Section 512, relating
     to the time, method and place of conducting any proceeding for any remedy
     available to the Trustee, or exercising any trust or power conferred upon
     the Trustee, under this Indenture with respect to the Securities of such
     series; and

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

          (d) Whether or not therein expressly so provided, 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.

          Section 602.  Notice of Defaults.
                        ------------------

          Within 90 days after the occurrence of any default hereunder with
respect to the Securities of any series, the Trustee shall transmit by mail to
all Holders of Securities of such series, as
<PAGE>

                                                                              38

their names and addresses appear in the Security Register, notice of such
default hereunder known to the Trustee, unless such default shall have been
cured or waived; provided, however, that, except in the case of a default in the
payment of the principal of (or premium, if any) or interest on any Security of
such series or in the payment of any sinking fund instalment with respect to
Securities of such series, the Trustee shall be protected in withholding such
notice if and so long as a Responsible Officer of the Trustee in good faith
determines that the withholding of such notice is in the interest of the Holders
of Securities of such series; and provided, further, that in the case of any
default of the character specified in Section 501(4) with respect to Securities
of such series, no such notice to Holders shall be given until at least 30 days
after the occurrence thereof. For the purpose of this Section, the term
"default" means any event which is, or after notice or lapse of time or both
would become, an Event of Default with respect to Securities of such series.

          Section 603. Certain Rights of Trustee.
                       -------------------------

          Subject to the provisions of Section 601:

          (a) the Trustee may conclusively rely and shall be fully protected in
     acting or refraining from acting upon any resolution, certificate,
     statement, instrument, opinion, report, notice, request, direction,
     consent, order, bond, debenture, note, other evidence of indebtedness or
     other paper or document believed by it to be genuine and to have been
     signed or presented by the proper party or parties;

          (b) any request or direction of the Company mentioned herein shall be
     sufficiently evidenced by a Company Request or Company Order and any
     resolution of the Board of Directors may be sufficiently evidenced by a
     Board Resolution;

          (c) whenever in the administration of this Indenture the Trustee shall
     deem it desirable that a matter be proved or established prior to taking,
     suffering or omitting any action hereunder, the Trustee (unless other
     evidence be herein specifically prescribed) may, in the absence of bad
     faith on its part, conclusively rely upon an Officers' Certificate;

          (d) the Trustee may consult with counsel and the written advice of
     such counsel or any Opinion of Counsel shall be full and complete
     authorization and protection in respect of any action taken, suffered or
     omitted by it hereunder in good faith and in reliance thereon;

          (e) 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 reasonable security or indemnity against the
     costs, expenses and liabilities which might be incurred by it in compliance
     with such request or direction;

          (f) the Trustee shall not be bound to make any investigation into the
     facts or matters stated in any resolution, certificate, statement,
     instrument, opinion, report, notice, request, direction, consent, order,
     bond, debenture, note, other evidence of indebtedness or other paper or
     document, but the Trustee, in its direction, may make such further inquiry
     or investigation into such facts or matters as it may see fit, and, if the
     Trustee shall determine to make such further inquiry or investigation, it
     shall be entitled to examine the books, records and premises of the
     Company, personally or by agent or attorney; and
<PAGE>

                                                                              39

          (g) the Trustee may execute any of the trusts or powers hereunder or
     perform any duties hereunder either directly or by or through agents,
     custodians, nominees or attorneys, and the Trustee shall not be responsible
     for any misconduct or negligence on the part of any agent, custodian,
     nominee or attorney appointed with due care by it hereunder.

          Section 604.  Not Responsible for Recitals or Issuance of Securities.
                        ------------------------------------------------------

          The recitals contained herein and in the Securities, except the
Trustee's certificates of authentication, shall be taken as the statements of
the Company, and the Trustee or any Authenticating Agent assumes no
responsibility for their correctness.  The Trustee makes no representations as
to the validity of sufficiency of this Indenture or of the Securities.  Neither
the Trustee nor any Authenticating Agent shall be accountable for the use or
application by the Company of Securities or the proceeds thereof.

          Section 605.  May Hold Securities.
                        -------------------

          The Trustee, any Authenticating Agent, any Paying Agent, any Security
Registrar or any other agent of the Company, in its individual or any other
capacity, may become the owner or pledgee of Securities and, subject to Section
603 and 613, may otherwise deal with the Company with the same rights it would
have if it were not Trustee, Authenticating Agent, Paying Agent, Security
Registrar or such other agent.

          Section 606.  Money Held in Trust.
                        -------------------

          Money held by the Trustee in trust hereunder need not be segregated
from other funds except to the extent required by law.  The Trustee shall be
under no liability for interest on any money received by it hereunder except as
otherwise agreed with the Company.

          Section 607.  Compensation and Reimbursement.
                        ------------------------------

          The Company agrees

          (1) to pay to the Trustee from time to time reasonable compensation
     for all services rendered by it hereunder (which compensation shall not be
     limited by any provision of law in regard to the compensation of a trustee
     of any express trust);

          (2) except as otherwise expressly provided herein, to reimburse the
     Trustee upon its request for all reasonable expenses, disbursements and
     advances incurred or made by the Trustee in accordance with any provision
     of this Indenture (including the reasonable compensation and the expenses
     and disbursements of its agents and counsel), except any such expense,
     disbursement or advance as may be attributable to its negligence or bad
     faith; and

          (3) to indemnify the Trustee and its officers, employees and directors
     for, and to hold them harmless against, any loss, liability or expense
     incurred without negligence or bad faith on their part, arising out of or
     in connection with the acceptance or administration of the trust or trusts
     hereunder, including the costs and expenses of defending themselves against
     any claim or liability in connection with the exercise or performance of
     any of the powers or duties of the Trustee hereunder.
<PAGE>

                                                                              40

          As security for the performance of the obligations of the Company
under this Section, the Trustee shall have a lien prior to the Securities upon
all property and funds held or collected by the Trustee as such, except for
funds held in trust for the benefit of the Holders of Securities.

          When the Trustee incurs expenses or renders services in connection
with an Event of Default hereunder, the fees, charges, expenses and indemnities
provided for in this Section 607 (including the charges of Trustee's counsel)
are intended to constitute expenses of the administration under any applicable
Federal or state bankruptcy, insolvency or other similar law.

          The provision of this Section 607 shall survive the termination of
this Indenture or the earlier resignation or removal of the Trustee, any Paying
Agent or any Authenticating Agent, as the case may be.

          Section 608.  Disqualification; Conflicting Interests.
                        ---------------------------------------

          If the Trustee has or shall acquire a conflicting interest within the
meaning of the Trust Indenture Act, the Trustee shall either eliminate such
interest or resign, to the extent and in the manner provided by, and subject to
the provisions of, the Trust Indenture Act and this Indenture.

          Section 609.  Corporate Trustee Required; Eligibility.
                        ---------------------------------------

          There shall at all times be a Trustee hereunder which shall be a
corporation which satisfies the requirements of Section 310(a) of the Trust
Indenture Act and which has a combined capital and surplus of not less than
$50,000,000.  If such corporation publishes reports of condition at least
annually, pursuant to law or to the requirements of a supervising or examining
authority, then for the purposes of this Section, the combined capital and
surplus of such corporation shall be deemed to be its combined capital and
surplus as set forth in its most recent report of condition so published.  If at
any time the Trustee shall cease to be eligible in accordance with the
provisions of this Section, it shall resign immediately in the manner and with
the effect hereinafter specified in this Article.

          Section 610.  Resignation and Removal; Appointment of Successor.
                        -------------------------------------------------

          (a) No resignation or removal of the Trustee and no appointment of a
successor Trustee pursuant to this Article shall become effective until the
acceptance of appointment by the successor Trustee in accordance with the
applicable requirements of Section 611.

          (b) The Trustee may resign at any time with respect to the Securities
of one or more series by giving written notice thereof to the Company.  If the
instrument of acceptance by a successor Trustee required by Section 611 shall
not have been delivered to the Trustee within 30 days after the giving of such
notice of resignation, the resigning Trustee may petition any court of competent
jurisdiction for the appointment of a successor Trustee with respect to such
series.

          (c) The Trustee may be removed at any time with respect to the
Securities of any series by Act of the Holders of a majority in principal amount
of the Outstanding Securities of such series, delivered to the Trustee and to
the Company.
<PAGE>

                                                                              41

          (d)  If at any time

          (1) the Trustee shall fail to comply with Section 608 after written
     request therefor by the Company or by any Holder who has been a bona fide
     Holder of a Security for at least six months, or

          (2) the Trustee shall cease to be eligible under Section 609 and shall
     fail to resign after written request therefor by the Company or by any such
     Holder, or

          (3) the Trustee shall become incapable of acting or shall be adjudged
     a bankrupt or insolvent or a receiver of the Trustee or of its property
     shall be appointed or any public officer shall take charge or control of
     the Trustee or of its property or affairs for the purpose of
     rehabilitation, conservation or liquidation,

then, in any such case, (i) the Company by a Board Resolution may remove the
Trustee with respect to all Securities, or (ii) subject to Section 514, any
Holder who has been a bona fide Holder of a Security for at least six months
may, on behalf of himself and all other similarly situated, petition any court
of competent jurisdiction for the removal of the Trustee with respect to all
Securities and the appointment of a successor Trustee or Trustees.

          (e) If the Trustee shall resign, be removed or become incapable of
acting, or if a vacancy shall occur in the office of Trustee for any cause, with
respect to the Securities of one or more series, the Company, by a Board
Resolution, shall promptly appoint a successor Trustee or Trustees with respect
to the Securities of that or those series (it being understood that any such
successor Trustee may be appointed with respect to the Securities of one or more
or all of such series and that at any time there shall be only one Trustee with
respect to the Securities of any particular series) and shall comply with the
applicable requirements of Section 611.  If, within one year after such
resignation, removal, or incapability, or the occurrence of such vacancy, a
successor Trustee with respect to the Securities of any series shall be
appointed by Act of the Holders of a majority in principal amount of the
Outstanding Securities of such series delivered to the Company and the retiring
Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance
of such appointment in accordance with the applicable requirements of Section
611, become the successor Trustee with respect to the Securities of such series
and to that extent supersede the successor Trustee appointed by the Company.  If
no successor Trustee with respect to the Securities of any series shall have
been so appointed by the Company or the Holders and accepted appointment in the
manner required by Section 611, any holder who has been a bona fide Holder of a
Security of such series for at least six months may, on behalf of himself and
all other similarly situated, petition any court of competent jurisdiction for
the appointment of a successor Trustee with respect to the Securities of such
series.

          (f) The Company shall give notice of each resignation and each removal
of the Trustee with respect to the Securities of any series and each appointment
of a successor Trustee with respect to the Securities of any series by mailing
written notice of such event by first-class mail, postage prepaid, to all
Holders of Securities of such series as their names and addresses appear in the
Security Register.  Each notice shall include the name of the successor Trustee
with respect to the Securities of such series and the address of its Corporate
Trust Office.

          (g) Upon the appointment of a successor Trustee (except pursuant to
Section 612), all fees, charges and expenses to date of the retiring Trustee
shall become immediately due and payable.
<PAGE>

                                                                              42

          (h) The retiring Trustee shall have no liability for the acts or
omissions of any successor Trustee hereunder except with respect to successors
pursuant to Section 612.

          Section 611.  Acceptance of Appointment by Successor.
                        --------------------------------------

          (a) In case of the appointment hereunder of a successor Trustee with
respect to all Securities, every such successor Trustee so appointed shall
execute, acknowledge and deliver to the Company and to the retiring Trustee an
instrument accepting such appointment, and thereupon the resignation or removal
of the retiring Trustee shall become effective and such successor Trustee,
without any further act, deed or conveyance, shall become vested with all the
rights, powers, trusts and duties of the retiring Trustee; but, on the request
of the Company or the successor Trustee, such retiring Trustee shall, upon
payment of its charges, execute and deliver an instrument transferring to such
successor Trustee all the rights, powers, and trusts of the retiring Trustee and
shall duly assign, transfer and deliver to such successor Trustee all property
and money held by such retiring Trustee hereunder, subject nevertheless to its
lien, if any, provided for in Section 607.

          (b) In case of the appointment hereunder of a successor Trustee with
respect to the Securities of one or more (but not all) series, the Company, the
retiring Trustee and each successor Trustee with respect to the Securities of
one or more series shall execute and deliver an indenture supplemental hereto
wherein each successor Trustee shall accept such appointment and which (1) shall
contain such provisions as shall be necessary or desirable to transfer, and
confirm to, and to vest in, each successor Trustee all the rights, powers,
trusts and duties of the retiring Trustee with respect to the Securities of that
or those series to which the appointment of such successor Trustee relates, (2)
if the retiring Trustee is not retiring with respect to all Securities, shall
contain such provisions as shall be deemed necessary or desirable to confirm
that all the rights, powers, trusts and duties of the retiring Trustee with
respect to the Securities of that or those as to which the retiring Trustee is
not retiring shall continue to be vested in the retiring Trustee, and (3) shall
add to or change any of the provisions of this Indenture as shall be necessary
to provide for or facilitate the administration of the trusts hereunder by more
than one Trustee, it being understood that nothing herein or in such
supplemental indenture shall constitute such Trustees co-trustees of the same
trust, that each such Trustee shall be trustee of a trust or trusts hereunder
separate and apart from any trust or trusts hereunder administered by any other
such Trustee and that no Trustee shall be responsible for any act or failure to
act on the part of any other Trustee hereunder, and upon the execution and
delivery of such supplemental indenture the resignation or removal of the
retiring Trustee shall become effective to the extent provided therein, such
retiring Trustee shall with respect to the Securities of that or those series to
which the appointment of such successor Trustee relates have no further
responsibility for the exercise of rights and powers or for the performance of
the duties and obligations vested in the Trustee under this Indenture, and each
such successor Trustee, without any further act, deed or conveyance, shall
become vested with all the rights, powers, trusts and duties of the retiring
Trustee with respect to the Securities of that or those series to which the
appointment of such successor Trustee relates; but, on request of the Company or
any successor Trustee, such retiring Trustee shall duly assign, transfer and
deliver to such successor Trustee, to the extent contemplated by such
supplemental indenture, the property and money held by such retiring Trustee
hereunder with respect to property and money held by such retiring Trustee
hereunder with respect to the Securities of that or those series to which the
appointment of such successor Trustee relates.

          (c) Upon request of any such successor Trustee, the Company shall
execute any and all instruments for more fully and certainly vesting in and
confirming to such successor Trustee all such rights, powers and trusts referred
to in paragraphs (a) or (b) of this Section, as the case may be.
<PAGE>

                                                                              43

          (d) No successor Trustee shall accept its appointment unless at the
time of such acceptance such successor Trustee shall be qualified and eligible
under this Article.

          Section 612.  Merger, Conversion, Consolidation or Succession to
                        --------------------------------------------------
Business.
--------

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

          Section 613.  Preferential Collection of Claims Against Company.
                        -------------------------------------------------

          If the Trustee shall be or shall become a creditor, directly or
indirectly, secured or unsecured, of the Company or of any other obligor on the
Securities, the Trustee shall be subject to the provisions of the Trust
Indenture Act regarding the collection of claims against the Company or any such
other obligor on the Securities.

          Section 614.  Appointment of Authenticating Agent.
                        -----------------------------------

          At any time when any of the Securities remain Outstanding, the Trustee
may appoint an Authenticating Agent or Agents with respect to one or more series
of Securities which shall be authorized to act on behalf of the Trustee to
authenticate Securities of such series issued upon exchange, registration of
transfer or partial redemption thereof and Securities so authenticated shall be
entitled to the benefits of this Indenture and shall be valid and obligatory for
all purposes as if authenticated by the Trustee hereunder.  Wherever reference
is made in this Indenture to the authentication and delivery of Securities by
the Trustee or the Trustee's certificate of authentication, such reference shall
be deemed to include authentication and delivery on behalf of the Trustee by an
Authenticating Agent and a certificate of authentication executed on behalf of
the Trustee by an Authenticating Agent.  Each Authenticating Agent shall be
acceptable to the Company and shall at all times be a corporation organized and
doing business under the laws of the United States of America, any State thereof
or the District of Columbia, authorized under such laws to act as Authenticating
Agent, having a combined capital and surplus of not less than $50,000,000 and
subject to supervision or examination by Federal or State authority.  If such
Authenticating Agent publishes reports of condition at least annually, pursuant
to law or to the requirements of said supervising or examining authority, then
for the purpose of this Section, the combined capital and surplus of such
Authenticating Agent shall be deemed to be its combined capital and surplus as
set forth in its most recent report of condition so published.  If at any time
an Authenticating Agent shall cease to be eligible in accordance with the
provisions of this Section, such Authenticating Agent shall resign immediately
in the manner and with the effect specified in this Section.

          Any corporation into which an Authenticating Agent may be merged or
converted or with which it may be consolidated, or any corporation resulting
from any merger, conversion or consolidation to which such Authenticating Agent
shall be a party, or any corporation succeeding to the corporate agency or
corporate trust business of an Authenticating Agent, shall continue to be an
<PAGE>

                                                                              44

Authenticating Agent, provided such corporation shall be otherwise eligible
under this Section, without the execution or filing of any paper or any further
act on the part of the Trustee or the Authenticating Agent.

          An Authenticating Agent may resign at any time by giving written
notice thereof to the Trustee and to the Company.  The Trustee may at any time
terminate the agency of an Authenticating Agent by giving written notice thereof
to such Authenticating Agent and to the Company.  Upon receiving such notice of
resignation or upon such termination, or in case at any time such Authenticating
Agent shall cease to be eligible in accordance with the provisions of this
Section, the Trustee may appoint a successor Authenticating Agent which shall be
acceptable to the Company and shall mail written notice of such appointment by
first-class mail, postage prepaid, to all Holders of Securities of the series
with respect to which such Authenticating Agent will serve, as their names and
addresses appear in the Security Register.  Any successor Authenticating Agent
upon acceptance of its appointment hereunder shall become vested with all the
rights, powers and duties of its predecessor hereunder, with like effect as if
originally named as an Authenticating Agent.  No successor Authenticating Agent
shall be appointed unless eligible under the provisions of this Section.

          The Trustee agrees to pay to each Authenticating Agent from time to
time reasonable compensation for its services under this Section, and the
Trustee shall be entitled to be reimbursed for such payments, subject to the
provisions of Section 607.

          The provisions of Sections 308, 603, 604, 605, 607 and 612 shall be
applicable to each Authenticating Agent.

          Pursuant to each appointment made under this Section, the Securities
of each series covered by such appointment may have endorsed thereon, in
addition to the Trustee's certificate of authentication, an alternative
certificate of authentication in the following form:

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

                                [NAME OF TRUSTEE]
                                 as Trustee

                                By:______________________________
                                  As Authenticating Agent

                                By:______________________________
                                  Authorized Officer

          In the event that the Trustee is also acting as Paying Agent and
Registrar hereunder, the rights and protections afforded to the Trustee pursuant
to this Article Six shall also be afforded to such Paying Agent and Registrar.
<PAGE>

                                                                              45

                                 ARTICLE SEVEN

              LISTS OF HOLDERS AND REPORTS BY TRUSTEE AND COMPANY

          Section 701.  Company to Furnish Trustee Names and Addresses of
                        -------------------------------------------------
Holders.
-------

          The Company will furnish or cause to be furnished to the Trustee

          (a) semi-annually, not more than 15 days after each Regular Record
     Date, in each year, a list, in such form as the Trustee may reasonably
     require, of the names and addresses of the Holders as of such Regular
     Record Date, and

          (b) at such times as the Trustee may request in writing, within 30
     days after the receipt by the Company of any such request, a list of
     similar form and content as of a date not more than 15 days prior to the
     time such list is furnished;

excluding from any such list names and addresses received by the Trustee in its
capacity as Co-Security Registrar.

          Section 702.  Preservation of Information; Communications to Holders.
                        ------------------------------------------------------

          (a) The Trustee shall preserve, in as current a form as is reasonably
practicable, the names and addresses of Holders contained in the most recent
list furnished to the Trustee as provided in Section 701 and the names and
addresses of Holders received by the Trustee in its capacity as Co-Security
Registrar.  The Trustee may destroy any list furnished to it as provided in
Section 701 upon receipt of a new list so furnished.

          (b) The rights of Holders to communicate with other Holders with
respect to their rights under this Indenture or under the Securities, and the
corresponding rights and privileges of the Trustee, shall be as provided by the
Trust Indenture Act.

          (c) Every Holder of Securities, by receiving and holding the same,
agrees with the Company and the Trustee that neither the Company nor the Trustee
nor any agent of either of them shall be held accountable by reason of the
disclosure of any such information as to the names and addresses of the Holders
made pursuant to the Trust Indenture Act.

          Section 703.  Reports by Trustee.
                        ------------------

          (a) Within 60 days after May 15 of each year commencing with the year
2000, the Trustee shall transmit by mail to all Holders, as their names and
addresses appear in the Security Register, a brief report dated as of such May
15 that complies with the Trust Indenture Act.

          (b) The Trustee shall transmit by mail to all Holders such other
reports concerning the Trustee and its actions under this Indenture as may be
required pursuant to the Trust Indenture Act at the times and in the manner
provided pursuant thereto.

          (c) A copy of each such report shall, at the time of such transmission
to Holders, be filed by the Trustee with each stock exchange upon which any
Securities are listed, with the Commission
<PAGE>

                                                                              46

and with the Company. The Company will notify the Trustee when any Securities
are listed on any stock exchange.

          Section 704.  Reports by Company.
                        ------------------

          The Company shall file with the Trustee and the Commission, and
transmit to Holders, such information, documents and other reports, and such
summaries thereof, as may be required pursuant to the Trust Indenture Act;
provided that any such information, documents or reports required to be filed
with the Commission pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934, as amended, shall be filed with the Trustee within 15 days after
the same is so required to be filed with the Commission.

                                 ARTICLE EIGHT

             CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

          Section 801.  Company May Consolidate, Etc. Only on Certain Terms.
                        ---------------------------------------------------

          The Company shall not consolidate with or merge into any other
corporation or sell, convey, exchange, transfer or lease its properties and
assets substantially as an entirety to any Person, unless:

          (1) the corporation formed by such consolidation or into which the
     Company is merged or the Person which acquires by conveyance or transfer,
     or which leases, the properties and assets of the Company substantially as
     an entirety shall be a corporation organized and existing under the laws of
     the United States of America, any State thereof or the District of Columbia
     and shall expressly assume, by an indenture supplemental hereto, executed
     and delivered to the Trustee, in form satisfactory to the Trustee, the due
     and punctual payment of the principal of (and premium, if any) and interest
     on all the Securities and the performance of every covenant of this
     Indenture on the part of the Company to be performed or observed;

          (2) immediately after giving effect to such transaction and treating
     any indebtedness which becomes an obligation of the Company or a Subsidiary
     as a result of such transaction as having been incurred by the Company or
     such Subsidiary at the time of such transaction, no Event of Default, and
     no event which, after notice or lapse of time or both, would become an
     Event of Default, shall have happened and be continuing; and

          (3) the Company has delivered to the Trustee an Officers' Certificate
     and an Opinion of Counsel, each stating that such consolidation, merger,
     conveyance, transfer or lease and supplemental indenture comply with this
     Article and that all conditions precedent herein provided for relating to
     such transaction have been complied with.

          Section 802.  Securities to Be Secured in Certain Events.
                        ------------------------------------------

          If, upon any consolidation, merger, conveyance, transfer or lease
referred to in Section 801, any Principal Property of the Company or of any
Restricted Subsidiary or any shares of stock or indebtedness of any Restricted
Subsidiary owned immediately prior thereto would thereupon become subject to any
mortgage, security interest, pledge, lien or encumbrance, other than liens
permitted under
<PAGE>

                                                                              47

Section 1004 or Section 1006, without securing the Securities, the Company,
prior to such consolidation, merger, conveyance, transfer or lease, will by an
indenture supplemental hereto secure the due and punctual payment of the
principal of and interest on the Securities (equally and ratably with any other
indebtedness of the Company then, or as a result thereof to be, secured thereby)
by a direct lien on such Principal Property, shares of stock or indebtedness,
prior to all liens other than any then existing thereon and then so permitted by
Section 1004 or Section 1006.

          Section 803.  Successor Corporation Substituted.
                        ---------------------------------

          Upon any consolidation by the Company with or merger by the Company
into any other corporation or any conveyance, transfer or lease of the
properties and assets of the Company substantially as an entirety in accordance
with Section 801, the successor corporation formed by such consolidation or into
which the Company is merged or to which such conveyance, transfer or lease is
made shall succeed to, and be substituted for, and may exercise every right and
power of, the Company under this Indenture with the effect as if such successor
corporation had been named as the Company herein, and thereafter, except in the
case of a lease, the predecessor corporation shall be relieved of all
obligations and covenants under this Indenture and the Securities.

          Section 804.  Assumption by Subsidiary of Company's Obligations.
                        -------------------------------------------------

          A Subsidiary may assume the obligations of the Company for the due and
punctual payment of the principal of (and premium, if any) and interest on the
Securities and the performance of the Company's other obligations under this
Indenture and the Securities, to be performed or observed, provided that:

          (1) such Subsidiary shall expressly assume such obligations by an
     indenture supplemental hereto, executed and delivered to the Trustee;

          (2) the Company shall guarantee the obligations of such Subsidiary
     under the Securities and this Indenture;

          (3) in addition to assuming obligations under the Securities and this
     Indenture, such Subsidiary shall agree to indemnify the Holder of each
     Security against (a) any tax, assessment or governmental charge imposed as
     a result of or relating to the act of such assumption and (b) costs or
     expenses incurred directly in connection with the act of assumption;

          (4) immediately after giving effect to such transaction, no Event of
     Default, and no event which, after notice or lapse of time or both, would
     become an Event of Default, shall have happened and be continuing;

          (5) the Company shall deliver to the Trustee an Officers' Certificate
     and an Opinion of Counsel, to the effect that (a) such assumption, (b) such
     guarantee and (c) such supplemental indenture comply with this Article and
     that all conditions precedent herein provided for relating to such
     assumption have been complied with and such supplemental indenture and
     guarantee by the Company have been duly authorized and delivered by the
     Company, and each constitutes a valid and legally binding instrument of the
     Company, enforceable in accordance with its terms subject to bankruptcy,
     insolvency, reorganization, moratorium or other laws relating to or
     affecting the enforcement of creditors' rights generally, and subject, as
     to enforcement, to general
<PAGE>

                                                                              48

     principles of equity, and any other customary exceptions which such counsel
     states do not materially prejudice the rights of the Holders under this
     Indenture and the Securities; and

          (6) such Subsidiary shall have delivered to the Trustee an Officers'
     Certificate and an Opinion of Counsel to the effect that (a) such
     Subsidiary has obtained all governmental and regulatory approvals and
     consents necessary for its assumption of liability as principal debtor in
     respect of the Securities in place of the Company; (b) such approvals and
     consents are at the time of assumption in full force and effect; and (c)
     such supplemental indenture has been duly authorized and delivered by such
     Subsidiary, constitutes a valid and legally binding instrument of such
     Subsidiary, enforceable in accordance with its terms subject to bankruptcy,
     insolvency, reorganization, moratorium or other laws relating to or
     affecting the enforcement of creditors' rights generally and subject, as to
     enforcement, to general principles of equity, and any other customary
     exceptions which such counsel states do not materially prejudice the rights
     of the Holders under this Indenture and the Securities.

          Upon compliance with, and subject to, the requirements set forth above
in this Section 804, such Subsidiary shall succeed to and be substituted for the
Company, with the same effect as if it had been named as the Company herein and
in the Securities in place of the Company; and the Company shall thereupon be
relieved of any further obligation or liability hereunder or upon the Securities
(except as provided in its guarantee as aforesaid).  Such Subsidiary may cause
to be signed, and may issue in its own name, any or all of the Securities
issuable hereunder which theretofore shall not have been signed by the Company
and delivered to the Trustee; and, upon the order of such Subsidiary, instead of
the Company, and subject to all the terms, conditions and limitations in this
Indenture prescribed, the Trustee shall authenticate and shall deliver any
Securities which previously shall have been signed and delivered as provided
herein, with the guarantee of the Company endorsed thereon, and any Securities
which such Subsidiary thereafter shall cause to be signed and delivered, with
the guarantee of the Company endorsed thereon, to the Trustee for that purpose.
All the Securities so issued shall in all respects have the same legal rank and
benefit under this Indenture as the Securities theretofore or thereafter issued
in accordance with the terms of this Indenture as though all of such Securities
had been issued at the date thereof.  In the event a Subsidiary shall assume the
obligations of the Company in accordance with this Section 804, such changes in
phraseology and form (but not in substance) may be made in the Securities
thereafter to be issued as may be appropriate.

                                 ARTICLE NINE

                            SUPPLEMENTAL INDENTURES

          Section 901.  Supplemental Indentures Without Consent of Holders.
                        --------------------------------------------------

          Without the consent of any Holders, the Company, when authorized by a
Board Resolution, and the Trustee, at any time and from time to time, may enter
into one or more indentures supplemental  hereto, in form satisfactory to the
Trustee, for any of the following purposes:

          (1) to evidence the succession of another corporation to the Company
     and the assumption by any such successor of the covenants of the Company
     herein and in the Securities or to evidence the assumption by a Subsidiary
     of the Company's obligations in accordance with Section 803;
<PAGE>

                                                                              49

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

          (3) to add any additional Events of Default;

          (4) to add to or change any of the provisions of this Indenture to
     such extent as shall be necessary to permit or facilitate the issuance of
     Securities in bearer form, registrable or not registrable as to principal,
     and with or without interest coupons;

          (5) to add to, change or eliminate any of the provisions of this
     Indenture in respect of one or more series of Securities; provided that any
     such addition, change or elimination (i) shall neither (A) apply to any
     Security of any series created prior to the execution of such supplemental
     indenture and entitled to the benefit of such provision nor (B) modify the
     rights of the Holders of any such Security with respect to such provision
     or (ii) shall become effective only when there is no such Security
     Outstanding;

          (6)  to secure the Securities;

          (7) to establish the form or terms of Securities of any series as
     permitted by Section 201 and 301;

          (8) to evidence and provide for the acceptance of appointment
     hereunder by a successor Trustee with respect to the Securities of one or
     more series and to add to or change any of the provisions of this Indenture
     as shall be necessary to provide for or facilitate the administration of
     the trusts hereunder by more than one Trustee, pursuant to the requirements
     of Section 611(b); or

          (9) to cure any ambiguity, to correct or supplement any provision
     contained herein or in any supplemental indenture which may be inconsistent
     with any other provision herein or in any supplemental indenture, or to
     make any other provisions with respect to matters or questions arising
     under this Indenture or under any supplemental indenture, provided such
     action shall not adverselx affect the interests of the Holders of
     Securities of any series in any material respect.

          Section 902.  Supplemental Indentures With Consent of Holders.
                        -----------------------------------------------

          With the consent of the Holders of not less than 66 2/3% in principal
amount of the Outstanding Securities of each series affected by such
supplemental indenture, by Act of said Holders delivered to the Company and the
Trustee, the Company, when authorized by a Board Resolution, and the Trustee may
enter into an indenture or indentures supplemental hereto for the purpose of
adding any provisions to or changing in any manner or eliminating any of the
provisions of this Indenture or of modifying in any manner the rights of the
Holders of Securities of such series under this Indenture; provided, however,
that no such supplemental indenture shall, without the consent of the Holder of
each Outstanding Security affected thereby,

          (1) change the Stated Maturity of the principal of, or any instalment
     of principal or of interest on, any Security, or reduce the principal
     amount thereof or the rate of interest thereon or any premium payable upon
     the redemption thereof, or reduce the amount of the principal of an
<PAGE>

                                                                              50

     Original Issue Discount Security that would be due and payable upon a
     declaration of acceleration of the Maturity thereof pursuant to Section
     502, or change any Place of Payment where, or the coin or currency in
     which, any Security 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 Stated Maturity thereof (or, in the case of redemption, on
     or after the Redemption Date), or

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

          (3) modify the provisions of this Indenture with respect to
     subordination of the Securities in a manner adverse to the Holders of such
     series, or

          (4) modify any of the provisions of this Section, Section 513 or
     Section 1008, 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 Security affected
     thereby; provided, however, that this clause shall not be deemed to require
     the consent of any Holder with respect to changes in the references to "the
     Trustee" and concomitant changes in Section 1008 or the deletion of this
     provision, in accordance with the requirements of Section 611(b) and
     901(8).

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

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

          Section 903.  Execution of Supplemental Indentures.
                        ------------------------------------

          In executing or accepting the additional trusts created by, any
supplemental indenture permitted by this Article or the modification thereby of
the trusts created by this Indenture, the Trustee shall be entitled to receive,
and (subject to Section 601) shall be fully protected in relying upon, an
Officers' Certificate stating that all conditions precedent to the execution of
such supplemental indenture have been fulfilled and an Opinion of Counsel
stating that the execution of such supplemental indenture is authorized or
permitted by this Indenture.  The Trustee may, but shall not be obligated to,
enter into any such supplemental indenture which affects the Trustee's own
rights, duties or immunities under this Indenture or otherwise.

          Section 904.  Effect of Supplemental Indentures.
                        ---------------------------------

          Upon the execution of any supplemental indenture under this Article,
this Indenture shall be modified in accordance therewith, and such supplemental
indenture shall form a part of this Indenture
<PAGE>

                                                                              51

for all purposes; and every Holder of Securities theretofore or thereafter
authenticated and delivered hereunder shall be bound thereby.

          Section 905.  Conformity With Trust Indenture Act.
                        -----------------------------------

          Every supplemental indenture executed pursuant to this Article shall
conform to the requirements of the Trust Indenture Act as then in effect.

          Section 906.  Reference in Securities to Supplemental Indentures.
                        --------------------------------------------------

          Securities of any series authenticated and delivered after the
execution of any supplemental indenture pursuant to this Article may, and shall
if required by the Trustee, bear a notation in form approved by the Trustee as
to any matter provided for in such supplemental indenture.  If the Company shall
so determine, new Securities of any series so modified as to conform, in the
opinion of the Trustee and the Company, to any such supplemental indenture may
be prepared and executed by the Company and authenticated and delivered by the
Trustee in exchange for Outstanding Securities of such series.

                                  ARTICLE TEN

                                   COVENANTS

          Section 1001.  Payment of Principal, Premium and Interest.
                         ------------------------------------------

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

          Section 1002.  Maintenance of Office or Agency.
                         -------------------------------

          The Company will maintain in each Place of Payment for any series of
Securities an office or agency where Securities of that series may be presented
or surrendered for payment, where Securities of that series may be surrendered
for registration of transfer or exchange and where notices and demands to or
upon the Company in respect of the Securities of that series and this Indenture
may be served.  The Company will give prompt, written notice to the Trustee of
the location, and any change in the location, of such office or agency.  If at
any time the Company shall fail to maintain any such required office or agency
or shall fail to furnish the Trustee with the address thereof, such
presentations, surrenders, notices and demands may be made or served at the
Corporate Trust Office of the Trustee, and the Company hereby appoints the
Trustee as its agent to receive all such presentations, surrenders, notices and
demands.

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

                                                                              52

each series of Securities, the Borough of Manhattan, The City of New York, and
appoints the Trustee at its Corporate Trust Office as Paying Agent in such city.

          Section 1003.  Money for Securities Payments to be Held in Trust.
                         -------------------------------------------------

          If the Company shall at any time act as its own Paying Agent with
respect to any series of Securities, it will, on or before each due date of the
principal of (and premium, if any) or interest on any of the Securities of that
series, segregate and hold in trust for the benefit of the Persons entitled
thereto a sum sufficient to pay the principal (and premium, if any) or interest
so becoming due until such sums shall be paid to such Persons or otherwise
disposed of as herein provided and will promptly notify the Trustee of its
action or failure so to act.

          Whenever the Company shall have one or more Paying Agents for any
series of Securities, it will, prior to each due date of the principal of (and
premium, if any) or interest on any Securities of that series, deposit with a
Paying Agent a sum sufficient to pay the principal (and premium, if any) or
interest so becoming due, such sum to be held in trust for the benefit of the
Persons entitled to such principal, premium or interest, and (unless such Paying
Agent is the Trustee) the Company will promptly notify the Trustee of its
actions or failure so to act.

          The Company will cause each Paying Agent for any series of Securities
other than the Trustee to execute and deliver to the Trustee an instrument in
which such Paying Agent shall agree with the Trustee, subject to the provision
of this Section, that such Paying Agent will:

          (1) hold all sums held by it for the payment of the principal of (and
     premium, if any) or interest on Securities of that series in trust for the
     benefit of the Persons entitled thereto until such sums shall be paid to
     such Persons or otherwise disposed of as herein provided;

          (2) give the Trustee notice of any default by the Company (or any
     other obligor upon the Securities of that series) in the making of any
     payment of principal (and premium, if any) or interest on the Securities of
     that series; and

          (3) at any time during the continuance of any such default, upon the
     written request of the Trustee, forthwith pay to the Trustee all sums so
     held in trust by such Paying Agent.

          The Company may at any time, for the purpose of obtaining the
satisfaction and discharge of this Indenture or for any other purpose, pay, or
by Company Order direct any Paying Agent to pay, to the Trustee all sums held in
trust by the Company or such Paying Agent, such sums to be held by the Trustee
upon the same trusts as those upon which such sums were held by the Company or
such Paying Agent; and, upon such payment by any Paying Agent to the Trustee,
such Paying Agent shall be released from all further liability with respect to
such money.

          Any money deposited with the Trustee or any Paying Agent, or then held
by the Company, in trust for the payment of the principal of (and premium, if
any) or interest on any Security of any series and remaining unclaimed for three
years after such principal (and premium, if any) or interest has become due and
payable shall be paid to the Company on Company Request, or (if then held by the
Company) shall be discharged from such trust; and the Holder of such Security
shall thereafter, as an unsecured general creditor, look only to the Company for
payment thereof, and all liability of the Trustee or such Paying Agent with
respect to such trust money, and all liability of the Company as trustee
thereof, shall thereupon cease, provided, however, that the Trustee or such
Paying Agent, before being
<PAGE>

                                                                              53

required to make any such repayment, may at the expense of the Company cause to
be published once, in a newspaper published in the English language, customarily
published on each Business Day and of general circulation in the Borough of
Manhattan, The City of New York, notice that such money remains unclaimed and
that, after a date specified therein, which shall not be less than 30 days from
the date of such publication, any unclaimed balance of such money then remaining
will be repaid to the Company.

          Section 1004.  Limitation on Liens.
                         -------------------

          The Company will not create or assume, and will not permit any
Restricted Subsidiary to create or assume, any mortgage, security interest,
pledge or lien (collectively in this Article Ten referred to as "lien") of or
upon any Principal Property or shares of capital stock or indebtedness of any
Restricted Subsidiary, whether owned at the date of this Indenture or thereafter
acquired, without making effective provision, and the Company in such case will
make or cause to be made effective provision, whereby the Outstanding Securities
shall be secured by such lien equally and ratably with any and all other
indebtedness or obligations thereby secured, so long as such other indebtedness
or obligations shall be so secured; provided that the foregoing shall not apply
to any of the following:

          (1) liens on any Principal Property acquired, constructed or improved
     after the date of this Indenture which are created or assumed
     contemporaneously with, or within 120 days after, or pursuant to financing
     arrangements for which a firm commitment is made by a bank, insurance
     company or other lender or investor (not including the Company or any
     Restricted Subsidiary) within 120 days after the completion of such
     acquisition, construction or improvement to secure or provide for the
     payment of any part of the purchase price of such property or the cost of
     such construction or improvement, or, in addition to liens contemplated by
     Clauses (2) and (3) below, liens on any Principal Property existing at the
     time of acquisition thereof, provided that in the case of any such
     acquisition, construction or improvement the lien shall not apply to any
     property theretofore owned by the Company and/or, one or more Restricted
     Subsidiaries other than, in the case of such construction or improvement
     any theretofore unimproved real property on which the property so
     constructed, or the improvement, is located;

          (2) liens on property or shares of capital stock or indebtedness of a
     corporation existing at the time such corporation is merged into or
     consolidated with the Company or a Restricted Subsidiary or at the time of
     a sale, lease or other disposition of the properties of a corporation as an
     entirety or substantially as an entirety to the Company or a Restricted
     Subsidiary;

          (3) liens on property or shares of capital stock or indebtedness of a
     corporation existing at the time such corporation becomes a Restricted
     Subsidiary;

          (4) liens to secure indebtedness of a Restricted Subsidiary to the
     Company and/or one or more Subsidiaries;

          (5) liens in favor of the United States of America or any State
     thereof or any department, agency or political subdivision of the United
     States of America or any State thereof, to secure partial progress, advance
     or other payments pursuant to any contract or statute or to secure any
     indebtedness incurred for the purpose of financing all or any part of the
     purchase price or the cost of constructing or improving the property
     subject to such liens;
<PAGE>

                                                                              54

          (6) liens on timberlands in connection with an arrangement under which
     the Company and/or one or more Restricted Subsidiaries are obligated to cut
     or pay for timber in order to provide the lienholder with a specified
     amount of money however determined;

          (7) liens created or assumed in the ordinary course of the business of
     exploring for, developing or producing oil, gas or other minerals
     (including in connection with borrowings of money for such purposes) on, or
     on any interest in, or on any proceeds from the sale of, property, acquired
     or held for the purpose of exploring for, developing or producing oil, gas
     or other minerals, or production therefrom, or proceeds of such production,
     or material or equipment located on such property;

          (8) liens in favor of any customer arising in respect of performance
     deposits and partial progress, advance or other payments made by or on
     behalf of such customer for goods produced or to be produced for or
     services rendered or to be rendered to such customer in the ordinary course
     of business, which liens shall not exceed the amount of such deposits or
     payments;

          (9) liens for the sole purpose of extending renewing or replacing in
     whole or in part any lien referred to in the foregoing clauses (1) to (8),
     inclusive, or in this clause (9), or any lien created prior to and existing
     on the date of this Indenture, provided that the indebtedness secured
     thereby shall not exceed in principal amount the indebtedness so secured at
     the time of such extension, renewal or replacement and that such extension,
     renewal or replacement shall be limited to all or a part of the property
     which secured the lien so extended, renewed or replaced (plus improvements
     on such property);

          (10) mechanics', workmen's, repairmen's, materialmen's, carriers' and
     other similar liens arising in the ordinary course of business;

          (11) liens created by or resulting from any litigation or proceedings
     which are being contested in good faith by appropriate proceedings; liens
     arising out of judgements or awards against the Company and/or one or more
     Restricted Subsidiaries with respect to which the Company and/or such
     Restricted Subsidiary or Subsidiaries are in good faith prosecuting an
     appeal or proceedings for review; or liens incurred by the Company and/or
     one or more Restricted Subsidiaries for the purpose of obtaining a stay or
     discharge in the course of any legal proceeding to which the Company and/or
     Subsidiaries are a party; or

          (12) liens for taxes or assessments or governmental charges or levies
     not yet due or delinquent, or which can thereafter be paid without penalty,
     or which are being contested in good faith by appropriate proceedings;
     landlord's liens on property held under lease, and tenants' rights under
     leases; easements; and any other liens of a nature similar to those
     hereinabove described in this clause (12) which do not, in the opinion of
     the Company, materially impair the title of such property in the operation
     of the business of the Company or any Restricted Subsidiary or the value of
     such property for the purposes of such business.
<PAGE>

                                                                              55

          Section 1005.  Limitation on Sale and Lease-Back.
                         ---------------------------------

          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 and/or one or more Restricted Subsidiaries of any Principal Property
(except for temporary leases for a term, including any renewal thereof, of not
more than three years and except for leases between the Company and one or more
Restricted Subsidiaries or between Restricted Subsidiaries), which property has
been or is to be sold or transferred by the Company and such Restricted
Subsidiary or Subsidiaries to such person (in this Article Ten referred to as
"Sale and Lease-Back Transaction") unless (a) the Company and/or Restricted
Subsidiary or Subsidiaries would be entitled to incur indebtedness secured by a
lien on such property without equally and ratably securing the Securities
pursuant to the provisions of Section 1004, (b) the Company shall apply or cause
to be applied an amount equal to the Value of such Sale and Lease-Back
Transaction within 120 days of the effective date of any arrangement (i) to the
retirement of indebtedness for borrowed money incurred or assumed by the Company
or any Restricted Subsidiary (other than indebtedness for borrowed money owed to
the Company and/or one or more Restricted Subsidiaries) which by its terms
matures on, or is extendable or renewable at the option of the obligor to a date
more then twelve months after the date of the incurrence or assumption of such
indebtedness and which is senior in right of payment to, or ranks pari passu
with, the Securities ("funded debt"), or (ii) to the purchase of other property
which will constitute "Principal Property" having a fair value in the opinion of
the Board of Directors at least equal to the Value of such Sale and Lease-Back
Transaction or (c) the Company or a Restricted Subsidiary shall deliver to the
Trustee or other applicable trustee for cancellation Securities or funded debt
in aggregate principal amount at least equal to the Value of such Sale and
Lease-Back Transaction.

          For purposes of this Section 1005 and Section 1006, the term "Value"
shall mean, with respect to a Sale and Lease-Back Transaction, as of any
particular time, the amount equal to the greater of (1) the net proceeds of the
sale or transfer of the property leased pursuant to such Sale and Lease-Back
Transaction or (2) the fair value in the opinion of the Board of Directors of
such property at the time of entering into such Sale and Lease-Back Transaction,
in either case divided first by the number of full years of the term of the
lease and then multiplied by the number of full years of such term remaining at
the time of determination without regard to any renewal or extension options
contained in the lease.

          Section 1006.  Exemption from Limitation on Liens and Sale and Lease-
                         -----------------------------------------------------
Back.
----

          Notwithstanding the provisions of Sections 1004 and 1005, the Company
and any one or more of its Restricted Subsidiaries may nevertheless create or
assume liens which would otherwise require securing of the Securities under said
provisions, and enter into Sale and Lease-Back Transactions without compliance
with either clause (b) or (c) of Section 1005, provided that the aggregate
amount of all such liens and Sale and Lease-Back Transactions permitted by this
Section at any time outstanding, (as measured by the sum of (i) all indebtedness
secured by all such liens then outstanding or to be so created or assumed but
excluding secured indebtedness permitted under the exceptions in Section 1004,
and (ii) the Value of all such Sale and Lease-Back Transactions then outstanding
or to be so entered into, but excluding such transactions in which indebtedness
is retired or property is purchased or Securities or funded debt are delivered
pursuant to Section 1005) shall not exceed 5% of the Net Tangible Assets of the
Company and its Restricted Subsidiaries.
<PAGE>

                                                                              56

          Section 1007.  Statement by Officers as to Default.
                         -----------------------------------

          The Company will deliver to the Trustee, within 120 days after the end
of each fiscal year of the Company ending after the date hereof an officers'
Certificate, stating whether or not to the best knowledge of the signers thereof
the Company is in default in the performance and observance of any of the terms,
provisions and conditions of Sections 1004 to 1006, inclusive, and if the
Company shall be in default, specifying all such defaults and the nature and
status thereof of which they may have knowledge.

          Section 1008.  Waiver of Certain Covenants.
                         ---------------------------

          The Company may omit in any particular instance to comply with any
term, provision or condition set forth in Sections 1004 and 1006, inclusive,
with respect to the Securities of any series if before the time for such
compliance the Holders of at least 66 2/3% in principal amount of the
Outstanding Securities of such series shall, by Act of such Holders, either
waive such compliance in such instance or generally waive compliance with such
term, provision or condition but no such waiver shall extend to or affect such
term, provision or condition except to the extent so expressly waived, and,
until such waiver shall become effective, the obligations of the Company and the
duties of the Trustee in respect of any such term, provision or condition shall
remain in full force and effect.

          Section 1009.  Applicability of Covenants.
                         --------------------------

          Any series of Securities may provide, as contemplated by Section 301
of this Indenture, that any one or more of the covenants set forth in Sections
802, and 1004 and 1008, inclusive, shall not be applicable to the Securities of
such series.

                                ARTICLE ELEVEN

                           REDEMPTION OF SECURITIES

          Section 1101.  Applicability of Article.
                         ------------------------

          Securities of any series which are redeemable before their Stated
Maturity shall be redeemable in accordance with their terms and (except as
otherwise specified as contemplated by Section 301 for Securities of any series)
in accordance with this Article or Article Twelve.

          Section 1102.  Election to Redeem; Notice to Trustee.
                         -------------------------------------

          The election of the Company to redeem any Securities shall be
evidenced by a Board Resolution.  In case of any redemption at the election of
the Company of less than all the Securities of any series, the Company shall, at
least 60 days prior to the Redemption Date fixed by the Company (unless a
shorter notice shall be satisfactory to the Trustee), notify the Trustee of such
Redemption Date and of the principal amount of Securities of such series to be
redeemed.  In the case of any redemption of Securities at the election of the
Company prior to the expiration of any restriction on redemptions provided in
the terms of such Securities or elsewhere in this Indenture, the Company shall
furnish the Trustee with an Officers' Certificate evidencing compliance with
such restriction.
<PAGE>

                                                                              57

          Section 1103.  Selection by Trustee of Securities to be Redeemed.
                         -------------------------------------------------

          If less than all the Securities of any series are to be redeemed, the
particular Securities to be redeemed shall be selected not more than 60 days
prior to the Redemption Date by the Trustee, from the Outstanding Securities of
such series not previously called for redemption, by such method as the Trustee
shall deem fair and appropriate and which may provide for the selection for
redemption of portions (equal to the minimum authorized denomination for
Securities of that series or any integral multiple thereof) of the principal
amount of Securities of such series of a denomination larger than the minimum
authorized denomination for Securities of that series.

          The Trustee shall promptly notify the Company in writing of the
Securities selected for redemption and, in the case of any Securities 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 Securities shall relate,
in the case of any Securities redeemed or to be redeemed only in part, to the
portion of the principal amount of such Securities which has been or is to be
redeemed.

          Section 1104.  Notice of Redemption.
                         --------------------

          Notice of redemption shall be given by first-class mail, postage
prepaid, mailed not less than 30 nor more than 60 days prior to the Redemption
Date, to each Holder of Securities to be redeemed, at his address appearing in
the Security Register.

          All notices of redemption shall state:

          (1)  the Redemption Date,

          (2) the Redemption Price and the amount of any accrued interest to the
     Redemption Date,

          (3) if less than all the Outstanding Securities of any series are to
     be redeemed, the identification (and, in the case of partial redemption,
     the principal amounts) of the particular Securities to be redeemed,

          (4) that on the Redemption Date, the Redemption Price will become due
     and payable upon each such Security to be redeemed and, if applicable, that
     interest thereon will cease to accrue on and after said date,

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

          (6) that the redemption is for a sinking fund, if such is the case.

          Notice of redemption of Securities to be redeemed at the election 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.
<PAGE>

                                                                              58

          Section 1105.  Deposit of Redemption Price.
                         ---------------------------

          Prior to any Redemption Date, the Company shall deposit with the
Trustee or with a Paying Agent (or, if the Company is acting as its own Paying
Agent, segregate and hold in trust as provided in Section 1003) an amount of
money sufficient to pay the Redemption Price of, and (except if the Redemption
Date shall be an Interest Payment Date) accrued interest on, all the Securities
which are to be redeemed on that date.

          Section 1106.  Securities Payable on Redemption Date.
                         -------------------------------------

          Notice of redemption having been given as aforesaid, the Securities to
be redeemed shall, on the Redemption Date, become due and payable at the
Redemption Price therein specified, and from and after such date (unless the
Company shall default in the payment of the Redemption Price and accrued
interest) such Securities shall cease to bear interest.  Upon surrender of any
such Security for redemption in accordance with said notice, such Security shall
be paid by the Company at the Redemption Price, together with accrued interest
to the Redemption Date; provided, however, that instalments of interest whose
Stated Maturity is on or prior to the Redemption Date shall be payable to the
Holders of such Securities, or one or more Predecessor Securities, registered as
such at the close of business on the relevant Record Dates according to their
terms and the provisions of Section 307.

          If any Security called for redemption shall not be so paid upon
surrender therefor for redemption, the principal (and premium, if any) shall,
until paid, bear interest from the Redemption Date at the rate prescribed
therefor in the Security.

          Section 1107.  Securities Redeemed in Part.
                         ---------------------------

          Any Security which is to be redeemed only in part shall be surrendered
at a Place of Payment therefor (with, if the Company or the Trustee so requires,
due endorsement by, or a written instrument of transfer in form satisfactory to
the Company and the Trustee duly executed by, the Holder thereof or his attorney
duly authorized in writing) and the Company shall execute, and the Trustee shall
authenticate and deliver to the Holder of such Security without service charge,
a new Security or Securities of the same series, of any authorized denomination
as required by such Holder, in aggregate principal amount equal to and in
exchange for the unredeemed portion of the principal of the Security so
surrendered.

                                ARTICLE TWELVE

                                 SINKING FUNDS

          Section 1201.  Applicability of Article.
                         ------------------------

          The provisions of this Article shall be applicable to any sinking fund
for the retirement of Securities of a series except as otherwise specified as
contemplated by Section 301 for Securities of such series.

          The minimum amount of any sinking fund payment provided for by the
terms of Securities of any series is herein referred to as a "mandatory sinking
fund payment", and any payment in excess of such minimum amount provided for by
the terms of Securities of any series is herein referred
<PAGE>

                                                                              59

to as an "optional sinking fund payment". If provided for by the terms of
Securities of any series, the cash amount of any sinking fund payment may be
subject to reduction as provided in Section 1202. Each sinking fund payment
shall be applied to the redemption of Securities of any series as provided for
by the terms of Securities of such series.

          Section 1202.  Satisfaction of Sinking Fund Payments With Securities.
                         -----------------------------------------------------

          The Company (1) may deliver Outstanding Securities of a series (other
than any previously called for redemption) and (2) may apply as a credit
Securities of a series which have been redeemed either at the election of the
Company pursuant to the terms of such Securities or through the application of
permitted optional sinking fund payments pursuant to the terms of such
Securities, in each case in satisfaction of all or any part of any sinking fund
payment with respect to the Securities of such series required to be made
pursuant to the terms of such Securities as provided for by the terms of such
Series; provided, that such Securities have not been previously so credited.
Such Securities shall be received and credited for such purpose by the Trustee
at the Redemption Price specified in such Securities for redemption through
operation of the sinking fund and the amount of such sinking fund payment shall
be reduced accordingly.

          Section 1203.  Redemption of Securities for Sinking Fund.
                         -----------------------------------------

          Not less than 60 days prior to each sinking fund payment date for any
series of Securities, the Company will deliver to the Trustee an Officers'
Certificate specifying the amount of the next ensuing sinking fund payment for
that series pursuant to the terms of that series, the portion thereof, if any,
which is to be satisfied by payment of cash and the portion thereof, if any,
which is to be satisfied by delivering and crediting Securities of that series
pursuant to Section 1202 and will also deliver to the Trustee any Securities to
be so delivered.  Not less than 30 days before each sinking fund payment date
the Trustee shall select the Securities to be redeemed upon such sinking fund
payment date in the manner specified in Section 1103 and cause notice of the
redemption thereof to be given in the name of and at the expense of the Company
in the manner provided in Section 1104.  Such notice having been duly given, the
redemption of such Securities shall be made upon the terms and in the manner
stated in Section 1106 and 1107.

                               ARTICLE THIRTEEN

                          SUBORDINATION OF SECURITIES

          Section 1301.  Agreement to Subordinate.
                         ------------------------

          The Company, for itself, its successors and assigns, covenants and
agrees, and each Holder of a Security likewise covenants and agrees by his
acceptance thereof, that the obligation of the Company to make any payment on
account of the principal of (and premium, if any) and interest on each and all
of the Securities shall be subordinate and junior in right of payment to the
Company's obligations to the holders of Senior Indebtedness and, under the
circumstances described in clause (ii) of this sentence, to the holders of
Additional Senior Obligations, to the extent provided herein, and that in the
case of any insolvency, receivership, conservatorship, reorganization,
readjustment of debt, marshalling of assets and liabilities or similar
proceedings or any liquidation or winding-up of or relating to the Company as a
whole, whether voluntary or involuntary, (i) all obligations to holders of
Senior Indebtedness shall be entitled to be paid in full before any payment
shall be made on account of the
<PAGE>

                                                                              60

principal of (and premium, if any) or interest on the Securities and, (ii) if
after giving effect to the operation of clause (i) above, (A) any amount of
cash, property or securities remains available for payment or distribution in
respect of the Securities ("Excess Proceeds") and (B) creditors in respect of
Additional Senior Obligations have not received payment in full of amounts due
or to become due thereon or payment of such amounts have not been duly provided
for, then such Excess Proceeds shall first be applied to pay or provide for the
payment in full of all such Additional Senior Obligations before any payment
shall be made on account of the principal of (and premium, if any) or interest
on the Securities. In the event of any such proceeding, after payment in full of
all sums owing with respect to Senior Indebtedness and Additional Senior
Obligations, the Holders of the Securities, together with the holders of any
obligations of the Company Ranking on a Parity with the Securities, shall be
entitled to be paid from the remaining assets of the Company the amounts at the
time due and owing on account of unpaid principal of (and premium, if any) and
interest on the Securities before any payment or other distribution, whether in
cash, property or otherwise, shall be made on account of any capital stock or
any obligations of the Company Ranking Junior to the Securities. In addition, in
the event of any such proceeding, if any payment or distribution of assets of
the Company of any kind or character, whether in cash, property or securities,
including any such payment or distribution which may be payable or deliverable
by reason of the payment of any other indebtedness of the Company being
subordinated to the payment of the Securities, shall be received by the Trustee
or the Holders of the Securities before all Senior Indebtedness and Additional
Senior Obligations are paid in full and if the Holder or the Trustee, as the
case may be, receiving such payment is aware at the time of receipt that all
Senior Indebtedness and Additional Senior Obligations have not been paid in
full, then such payment or distribution shall, if received by any Holder, be
held in trust for the benefit of the holders of Senior Indebtedness and/or
Additional Senior Obligations, as the case may be or, if received by the
Trustee, shall be held by it and delivered forthwith to the trustee in
bankruptcy, receiver, assignee, agent or other Person making payment or
distribution of the assets of the Company, and, in each case, shall be applied
to the payment of all Senior Indebtedness and Additional Senior Obligations
remaining unpaid, until all such Senior Indebtedness and Additional Senior
Obligations shall have been paid in full, after giving effect to any concurrent
payment or distribution to the holders of such Senior Indebtedness and
Additional Senior Obligations. For purposes of this paragraph only, the words,
"cash, property or securities" shall not be deemed to include shares of stock of
the Company as reorganized or readjusted, or securities of the Company or any
other company provided for by a plan of reorganization or readjustment which are
subordinated in right of payment to all Senior Indebtedness and Additional
Senior Obligations which may at the time be outstanding to substantially the
same extent as, or to a greater extent than, the Securities are so subordinated
as provided in this Article.

          The subordination provisions of the foregoing paragraph shall not be
applicable to amounts at the time due and owing on the Securities on account of
the unpaid principal of (and premium, if any) or interest on the Securities for
the payment of which funds have been deposited in trust with the Trustee or have
been set aside by the Company in trust in accordance with the provisions of this
Indenture; nor shall such provisions impair any rights, interests, remedies or
powers of any secured creditor of the Company in respect of any security the
creation of which is not prohibited by the provisions of this Indenture.

          If there shall have occurred and be continuing (a) a default in any
payment with respect to any Senior Indebtedness or (b) an event of default with
respect to any Senior Indebtedness as a result of which the maturity thereof is
accelerated, unless and until such payment default or event of default shall
have been cured or waived or shall have ceased to exist, no payments shall be
made by the Company with respect to the principal of (or premium, if any) or
interest on the Securities.  The
<PAGE>

                                                                              61

provisions of this paragraph shall not apply to any payment with respect to
which the first paragraph of this Section would be applicable.

          The securing of any obligations of the Company Ranking on a Parity
with the Securities or obligations Ranking Junior to the Securities shall not be
deemed to prevent such obligations from constituting obligations of the Company
Ranking on a Parity with the Securities or obligations Ranking Junior to the
Securities.

          The consolidation of the Company with, or the merger of the Company
into, another Person or the liquidation or dissolution of the Company following
the conveyance or transfer of its properties and assets substantially as an
entirety to another Person upon the terms and conditions set forth in Article
Eight shall not be deemed a dissolution, winding-up, liquidation,
reorganization, assignment for the benefit of creditors or marshalling of assets
and liabilities of the Company for the purposes of this Section if the Person
formed by such consolidation or into which the Company is merged or the Person
which acquires by conveyance or transfer such properties and assets
substantially as an entirety, as the case may be, shall, as a part of such
consolidation, merger, conveyance, or transfer, comply with the conditions set
forth in Article Eight.

          Section 1302.  Obligation of the Company Unconditional.
                         ---------------------------------------

          Nothing contained in this Article or elsewhere in this Indenture is
intended to or shall impair, as between the Company and the Holders of the
Securities, the obligation of the Company, which is absolute and unconditional,
to pay the Holders of the Securities the principal of (and premium, if any) and
interest on the Securities when, where and as the same shall become due and
payable, all in accordance with the terms of the Securities, or is intended to
or shall affect the relative rights of the Holders of the Securities and
creditors other than the holders of Senior Indebtedness and Additional Senior
Obligations, nor shall anything herein or therein prevent the Trustee or the
Holder of any Security from exercising all remedies otherwise permitted by
applicable law upon an Event of Default under this Indenture, subject to the
rights, if any, under this Article of the holders of Senior Indebtedness and
Additional Senior Obligations in respect of cash, property, or securities of the
Company received upon the exercise of any such remedy.

          Section 1303.  Notice to Trustee of Facts Prohibiting Payment.
                         ----------------------------------------------

          The Company shall give prompt written notice to a Responsible Officer
of the Trustee located at the Corporate Trust Office of any fact known to the
Company which would prohibit the making of any payment to or by the Trustee in
respect of the Securities.  Notwithstanding the provisions of this Article or
any other provision of this Indenture, the Trustee shall not be charged with
knowledge of the existence of any facts which would prohibit the making of any
payment to or by the Trustee in respect of the Securities, unless and until the
Trustee shall have received at its Corporate Trust Office written notice thereof
from the Company or a holder of Senior Indebtedness or Additional Senior
Obligations or from any trustee therefor, and, prior to the receipt of any such
written notice, the Trustee, subject to the provisions of Section 601, shall be
entitled in all respects to assume that no such facts exist; provided, however,
that if the Trustee shall not have received the notice provided for in this
Section at least three Business Days prior to the date upon which by the terms
hereof any money may become payable for any purpose (including, without
limitation, the payment of the principal of (and premium, if any) or interest on
any Security), then, anything herein contained to the contrary notwithstanding,
the Trustee shall have full power and authority to receive such money and to
apply the
<PAGE>

                                                                              62

same to the purpose for which such money was received and shall not be affected
by any notice to the contrary which may be received by it during or after such
three Business Day period.

          Subject to the provisions of Section 601, the Trustee shall be
entitled to rely on the delivery to it of a written notice by a Person
representing himself to be a holder of Senior Indebtedness or Additional Senior
Obligations (or a trustee therefor) to establish that such notice has been given
by a holder of Senior Indebtedness or Additional Senior Obligations (or a
trustee therefor).  In the event that the Trustee determines in good faith that
further evidence is required with respect to the right of any Person as a holder
of Senior Indebtedness or Additional Senior Obligations to participate in any
payment or distribution pursuant to this Article, the Trustee may request such
Person to furnish evidence to the reasonable satisfaction of the Trustee as to
the amount of Senior Indebtedness or Additional Senior Obligations held by such
Person, the extent to which such Person is entitled to participate in such
payment or distribution and any other facts pertinent to the rights of such
Person under this distribution and any other facts pertinent to the rights of
such Person under this Article, and if such evidence is not furnished, the
Trustee may defer any payment to such Person pending judicial determination as
to the right of such Person to receive such payment.

          Section 1304.  Application by Trustee of Moneys Deposited With It.
                         --------------------------------------------------

          Anything in this Indenture to the contrary notwithstanding, any
deposit of moneys by the Company with the Trustee or any other agent (whether or
not in trust) for any payment of the principal of (and premium, if any) or
interest on any Securities shall, except as provided in Section 1303, be subject
to the provisions of Section 1301.

          Section 1305.  Subrogation to Rights of Holders of Senior Indebtedness
                         -------------------------------------------------------
and Additional Senior Obligations.
---------------------------------

          Subject to the payment in full of all Senior Indebtedness and
Additional Senior Obligations, the Holders of the Securities shall be subrogated
to the rights of the holders of Senior Indebtedness and the rights of holders of
Additional Senior Obligations to receive payments or distributions of assets of
the Company applicable to such Senior Indebtedness or Additional Senior
Obligations, as the case may be, until the principal of (and premium, if any)
and interest on the Securities shall be paid in full.  For purposes of such
subrogation, none of the payments or distributions to the holders of the Senior
Indebtedness or to the holders of Additional Senior Obligations to which the
Holders of the Securities or the Trustee would be entitled except for the
provisions of this Article, or of payments over pursuant to the provisions of
this Article to the holders of Senior Indebtedness or to the holders of
Additional Senior Obligations by Holders of the Securities or the Trustee shall,
as among the Company, its creditors other than holders of Senior Indebtedness,
holders of Additional Senior Obligations and the Holders of the Securities, be
deemed to be a payment or distribution by the Company to or on account of the
Senior Indebtedness or the Additional Senior Obligations, as the case may be; it
being understood that the provisions of this Article are intended solely for the
purpose of defining the relative rights of the Holders of the Securities, on the
one hand, and the holders of the Senior Indebtedness and the holders of
Additional Senior Obligations on the other hand.

         Section 1306.  Subordination Rights Not Impaired by Acts or Omissions
                        ------------------------------------------------------
of Company, Holders of Senior Indebtedness or Holders of Additional Senior
--------------------------------------------------------------------------
Obligations.
-----------

          No right of any present or future holders of any Senior Indebtedness
or Additional Senior Obligations to enforce subordination as herein provided
shall at any time in any way be
<PAGE>

                                                                              63

prejudiced or impaired by any act or failure to act on the part of the Company
or any act or failure to act, in good faith, by any such holder, or by any
noncompliance by the Company with the terms, provisions and covenants of this
Indenture, regardless of any knowledge thereof which any such holder may have or
be otherwise charged with.

          Section 1307.  Authorization of Trustee to Effectuate Subordination of
                         -------------------------------------------------------
Securities.
----------

          Each Holder of a Security, by his acceptance thereof, authorizes and
expressly directs the Trustee on his behalf to take such actions as may be
necessary or appropriate to effectuate the subordination provided in this
Article and appoints the Trustee his attorney-in-fact for any and all such
purposes.

          If, in the event of any proceeding or other action relating to the
Company referred to in the first sentence of Section 1301, a proper claim or
proof of debt in the form required in such proceeding or action is not filed by
or on behalf of the Holders of the Securities prior to fifteen days before the
expiration of the time to file such claim or claims, then the holder or holders
of Senior Indebtedness and Additional Senior Obligations shall have the right to
file and are hereby authorized to file appropriate claim for and on behalf of
the Holders of the Securities; provided, that no such filing by any holders of
Senior Indebtedness or Additional Senior Obligations shall preclude the Trustee
from filing such a proof of claim on behalf of the Holders of Securities.

          Section 1308.  Right of Trustee to Hold Senior Indebtedness and
                         ------------------------------------------------
Additional Senior Obligations.
-----------------------------

          The Trustee in its individual capacity shall be entitled to all of the
rights set forth in this Article in respect of any Senior Indebtedness or
Additional Senior Obligations at any time held by it in its individual capacity
to the same extent as any other holder of such Senior Indebtedness or Additional
Senior Obligations, and nothing in this Indenture shall be construed to deprive
the Trustee of any of its rights as such holder.  Nothing in this Article shall
subordinate to Senior Indebtedness or Additional Senior Obligations the claims
of the Trustee under Section 607.

          Section 1309.  Article Thirteen Not to Prevent Events of Default.
                         -------------------------------------------------

          The failure to make a payment pursuant to the Securities by reason of
any provision in this Article shall not be construed as preventing the
occurrence of an Event of Default.

          Section 1310.  Article Applicable to Paying Agents.
                         -----------------------------------

          In case at any time any Paying Agent other than the Trustee shall have
been appointed by the Company and be then acting hereunder, the term "Trustee"
as used in this Article shall in such case (unless the content otherwise
requires) be construed as extending to and including such Paying Agent within
its meaning as fully for all intents and purposes as if such Paying Agent were
named in this Article in addition to or in place of the Trustee; provided,
however, that Section 1308 shall not apply to the Company or any Affiliate of
the Company if it or such Affiliate acts as Paying Agent.

          Section 1311.  Reliance on Judicial Order or Certificate of
                         --------------------------------------------
Liquidating Agent.
-----------------

          Upon any payment or distribution of assets of the Company referred to
in this Article, the Trustee, subject to the provisions of Section 601, and the
Holders of the Securities shall be entitled to
<PAGE>

                                                                              64

rely upon any order or decree entered by any court of competent jurisdiction in
which such insolvency, bankruptcy, receivership, liquidation, reorganization,
dissolution, winding-up or similar case or proceeding is pending, or a
certificate of the trustee in bankruptcy, receiver, liquidating trustee,
custodian, assignee for the benefit of creditors, agent or other Person making
such payment or distribution, delivered to the Trustee or to the Holders of
Securities for the purpose of ascertaining the Persons entitled to participate
in such payment or distribution, the holders of the Senior Indebtedness,
Additional Senior Obligations and other indebtedness of the Company, the amount
thereof or payable thereon, the amount or amounts paid or distributed thereon
and all other facts pertinent thereto or to this Article.

          Section 1312.  Trustee Not Fiduciary for Holders of Senior
                         -------------------------------------------
Indebtedness or Holders of Additional Senior Obligations.
--------------------------------------------------------

          The Trustee shall not be deemed to owe any fiduciary duty to the
holders of Senior Indebtedness or the holders of Additional Senior Obligations
and shall not be liable to any such holders if it shall in good faith mistakenly
pay over or distribute to Holders of Securities or to the Company or to any
other Person, cash, property or securities to which any holders of Senior
Indebtedness or Additional Senior Obligations shall be entitled by virtue of
this Article or otherwise.

          Section 1313.  Payment Permitted If No Default.
                         -------------------------------

          Nothing contained in this Article or elsewhere in this Indenture or in
any of the Securities shall prevent the Company, at any time except during the
case of any insolvency, receivership, conservatorship, reorganization,
readjustment or debt, marshalling of assets and liabilities or similar
proceedings or any liquidation or winding-up of or relating to the Company
referred to in Section 1301 from making payments at any time of principal of
(and premium, if any) or interest on the Securities.

                               ARTICLE FOURTEEN

                               HOLDERS' MEETINGS

          Section 1401.  Purposes for Which Meetings May be Called.
                         -----------------------------------------

          A meeting of Holders may be called at any time and from time to time
pursuant to the provisions of this Article for any of the following purposes:

          (1) to give any notice to the Company or to the Trustee, or to give
     any direction to the Trustee, or to waive or consent to the waiving of any
     Event of Default hereunder and its consequences, or to take any other
     action authorized to be taken by Holders pursuant to any of the provisions
     of Article Five;

          (2) to remove the Trustee or appoint a successor trustee, pursuant to
     the provisions of Article Six;

          (3) to consent to the execution of an indenture or indentures
     supplemental hereto pursuant to the provisions of Section 901 and 902; or

<PAGE>

                                                                              65

          (4) to take any other action authorized to be taken by or on behalf of
     the Holders of any specified aggregate principal amount of the Securities
     under any other provision of this Indenture or under applicable law.

          Section 1402.  Manner of Calling Meetings.
                         --------------------------

          The Trustee may at any time call a meeting of Holders to take any
action specified in Section 1401.  Notice of every meeting of the Holders,
setting forth the time and the place of such meeting and in general terms the
action proposed to be taken at such meeting, shall be mailed by the Trustee to
the Company and to the Holders not less than 20 nor more than 60 days prior to
the date fixed for the meeting.  Any meeting shall be valid without notice if
the Holders of all of the Outstanding Securities are present in person or by
proxy, or if notice is waived before or after the meeting by the Holders of all
of the Outstanding Securities, and if the Company and the Trustee are either
present or have, before or after the meeting, waived notice.

          Section 1403.  Call of Meetings by Company or Holders.
                         --------------------------------------

          In case at any time the Company, pursuant to a resolution of its Board
of Directors, or the Holders of not less than 30% in aggregate principal amount
of the Outstanding Securities, shall have requested the Trustee to call a
meeting of Holders to take any action authorized in Section 1401 by written
request setting forth in reasonable detail the action proposed to be taken at
the meeting, and the Trustee shall not have mailed notice of such meeting within
20 days after receipt of such request, then the Company or such Holders in the
amount above specified may determine the time and the place in New York, New
York or in Atlanta, Georgia for such meeting and may call such meeting to take
any action authorized in Section 1401, by mailing notice thereof as provided in
Section 1402.

          Section 1404.  Who May Attend and Vote at Meetings.
                         -----------------------------------

          To be entitled to vote at any meeting of Holders a person shall (a) be
a Holder of one or more Securities with respect to which the meeting is being
held, or (b) be a person appointed by an instrument in writing as proxy by such
Holder of one or more Securities.  The only persons who shall be entitled to be
present or to speak at any meeting of Holders shall be the persons entitled to
vote at such meeting and their counsel and any representatives of the Trustee
and its counsel and any representatives of the Company and its counsel.

          Section 1405.  Regulations May be Made by Trustee.
                         ----------------------------------

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

          At any meeting each Holder or proxy shall be entitled to one vote for
each $1,000 principal amount of Outstanding Securities held or represented by
him.
<PAGE>

                                                                              66

          Section 1406.  Evidence of Actions by Holders.
                         ------------------------------

          Whenever the Holders of a specified percentage in aggregate principal
amount of the Securities may take any action, the fact that the Holders of such
percentage have acted may be evidence by (a) instruments of similar tenor
executed by Holders in person or by attorney or written proxy, or (b) the
Holders voting in favor thereof at any meeting of Holders called and held in
accordance with the provisions of the rules for meetings of Holders, or (c) by a
combination thereof.  The Trustee may require proof of any matter concerning the
execution of any instrument by a Holder or his attorney or proxy as it shall
deem necessary.

          Section 1407.  Exercise of Rights of Trustee and Holders Not to be
                         ---------------------------------------------------
Hindered or Delayed.
-------------------

          Nothing in this Article contained shall be deemed or construed to
authorize or permit, by reason of any call of a meeting of Holders or any rights
expressly or impliedly conferred hereunder to make such call, any hindrance or
delay in the exercise of any right or rights conferred upon or reserved to the
Trustee or to the Holders under any of the provisions of this Indenture or of
the Securities.

                                ARTICLE FIFTEEN

                                  CONVERSION

          Section 1501.  Applicability; Conversion Privilege.
                         -----------------------------------

          Except as otherwise specified pursuant to Section 301 for Securities
of any series, the provisions of this Article Fifteen shall be applicable to any
Securities that are convertible into Georgia-Pacific Group Stock or Timber
Stock.  Each reference in this Article to a "Security" or "Securities" refers to
the Securities of a particular series that is convertible into Georgia-Pacific
Group Stock or Timber Stock, as applicable. Without limiting the generality of
the immediately preceding sentence, if two or more series of Securities with
conversion privileges are outstanding at any time, (i) the provisions of this
Article shall be applied separately to each such series, and (ii) references to
the Trustee refer to the Trustee for the Securities of such series.  If so
provided pursuant to Section 301 with respect to the Securities of any series,
the Holder of a Security of such series shall have the right, at such Holder's
option, to convert, in accordance with the terms of such series of Securities
and this Article Fifteen, all or any part (if the portion to be converted and
the remaining portion of such Security are in authorized denominations for that
series of Securities) of such Security into shares of Georgia-Pacific Group
Stock or Timber Stock, as applicable, at any time during the period specified in
the terms of the Securities of the series pursuant to Section 301, at the
Conversion Price in effect on the date of conversion, or, as to any Securities
called for redemption at any time prior to the time and date fixed for such
redemption (unless the Company shall default in the payment of the Redemption
Price, in which case such right shall not terminate at such time and date).

          Section 1502.  Conversion Procedure; Conversion Price; Fractional
                         --------------------------------------------------
Shares.
------

          (a)  Except as otherwise specified as contemplated by Section 301 for
Securities of any series, each Security of such series to which this Article is
applicable shall be convertible at the office of the Conversion Agent, and at
such other place or places, if any, specified pursuant to Section 301 with
respect to the Securities of such series, into fully paid and nonassessable
shares (calculated to the nearest 1/100th of a share) of Georgia-Pacific Group
Stock or Timber Stock, as applicable. The Securities will
<PAGE>

                                                                              67

be converted into shares of Georgia-Pacific Group Stock or Timber Stock, as
applicable, at the Conversion Price therefor. No payment or adjustment shall be
made in respect of dividends on the Georgia-Pacific Group Stock or Timber Stock,
as applicable, or accrued interest on a converted Security except as described
in Section 1509 and Section 1502(c). The Company may, but shall not be required,
in connection with any conversion of Securities, to issue a fraction of a share
of Georgia-Pacific Group Stock or Timber Stock, as applicable, and, if the
Company shall determine not to issue any such fraction, the Company shall,
subject to Section 1503(4), make a cash payment (calculated to the nearest cent)
equal to such fraction multiplied by the Closing Price of the Georgia-Pacific
Group Stock or Timber Stock, as applicable, on the last Trading Day prior to the
date of conversion.

          (b)  Before any Holder of a Security shall be entitled to convert the
same into Georgia-Pacific Group Stock or Timber Stock, as applicable, such
Holder shall surrender such Security duly endorsed to the Company or in blank,
at the office of the Conversion Agent or at such other place or places, if any,
specified pursuant to Section 301, and shall give written notice to the Company
at said office or place that he elects to convert the same and shall state in
writing therein the principal amount of Securities to be converted and the name
or names (with addresses) in which he wishes the certificate or certificates for
Georgia-Pacific Group Stock or Timber Stock, as applicable, to be issued.

          If more than one Security shall be surrendered for conversion at one
time by the same Holder, the number of full shares of Georgia-Pacific Group
Stock or Timber Stock, as applicable, which shall be deliverable upon conversion
shall be computed on the basis of the aggregate principal amount of the
Securities (or specified portions thereof to the extent permitted thereby) so
surrendered.  Subject to the next succeeding sentence, the Company will as soon
as practicable after the surrender of a Security for conversion, issue and
deliver at said office or place to the Holder of a Security, or to his nominee
or nominees, certificates for the number of full shares of Georgia-Pacific Group
Stock or Timber Stock, as applicable, to which he shall be entitled as
aforesaid, together, subject to the last sentence of paragraph (a) above, with
cash in lieu of any fraction of a share to which he would otherwise be entitled.
The Company shall not be required to deliver certificates for shares of Georgia-
Pacific Group Stock or Timber Stock, as applicable, while the stock transfer
books for such stock or the Security Register are duly closed for any purpose,
but certificates for shares of Georgia-Pacific Group Stock or Timber Stock, as
applicable, shall be issued and delivered as soon as practicable after the
opening of such books or Security Register.

          (c)  A Security shall be deemed to have been converted as of the close
of business on the date of the surrender of such Security for conversion as
provided above, and the Person or Persons entitled to receive the Georgia-
Pacific Group Stock or Timber Stock, as applicable, issuable upon such
conversion shall be treated for all purposes as the record Holder or Holders of
such Georgia-Pacific Group Stock or Timber Stock, as applicable, as of the close
of business on such date.

          (d)  In case any Security shall be surrendered for partial conversion,
the Company shall execute and the Trustee shall authenticate and deliver to or
upon the written order of the Holder of the Securities so surrendered, without
charge to such Holder (subject to the provisions of Section 1508), a new
Security or Securities in authorized denominations in an aggregate principal
amount equal to the unconverted portion of the surrendered Security.

          Section 1503.  Adjustment of Conversion Price for Georgia-Pacific
                         --------------------------------------------------
Group Stock or Timber Stock.
---------------------------
<PAGE>

                                                                              68

          The Conversion Price with respect to any Security which is convertible
into Georgia-Pacific Group Stock or Timber Stock, as applicable, shall be
adjusted from time to time as follows:

          (1)  In case the Company shall, at any time or from time to time while
     any of such Securities are Outstanding, (i) pay a dividend in shares of its
     Georgia-Pacific Group Stock or Timber Stock, as applicable, to holders of
     Georgia-Pacific Group Stock or Timber Stock, as applicable, (ii) combine
     its outstanding shares of Georgia-Pacific Group Stock or Timber Stock, as
     applicable, into a smaller number of shares of Georgia-Pacific Group Stock
     or Timber Stock, as applicable, (iii) subdivide its outstanding shares of
     Georgia-Pacific Group Stock or Timber Stock, as applicable, into a greater
     number of shares of Georgia-Pacific Group Stock or Timber Stock, as
     applicable, or (iv) make a distribution in shares of Georgia-Pacific Group
     Stock or Timber Stock, as applicable, to holders of Georgia-Pacific Group
     Stock or Timber Stock, as applicable, then the Conversion Price in effect
     immediately before such action shall be adjusted so that the Holders of
     such Securities, upon conversion thereof into Georgia-Pacific Group Stock
     or Timber Stock, as applicable, immediately following such event, shall be
     entitled to receive the kind and amount of shares of capital stock of the
     Company which they would have owned or been entitled to receive upon or by
     reason of such event if such Securities had been converted immediately
     before the record date (or, if no record date, the effective date) for such
     event.  An adjustment made pursuant to this Section 1503(1) shall become
     effective retroactively immediately after the record date in the case of a
     dividend or distribution and shall become effective retroactively
     immediately after the effective date in the case of a subdivision or
     combination.  For the purposes of this Section 1503(1), each Holder of
     Securities shall be deemed to have failed to exercise any right to elect
     the kind or amount of securities receivable upon the payment of any such
     dividend, subdivision, combination or distribution (provided that if the
     kind or amount of securities receivable upon such dividend, subdivision,
     combination or distribution is not the same for each nonelecting share,
     then the kind and amount of securities or other property receivable upon
     such dividend, subdivision, combination or distribution for each
     nonelecting share shall be deemed to be the kind and amount so receivable
     per share by a plurality of the nonelecting shares).

          (2)  In case the Company shall, at any time or from time to time while
     any of such Securities are Outstanding, issue rights or warrants to all or
     substantially all holders of shares of its Georgia-Pacific Group Stock or
     Timber Stock, as applicable, entitling them (for a period expiring within
     45 days after the record date for such issuance) to subscribe for or
     purchase shares of Georgia-Pacific Group Stock or Timber Stock, as
     applicable (or securities convertible into shares of Georgia-Pacific Group
     Stock or Timber Stock, as applicable), at a price per share less than the
     Current Market Price of the Georgia-Pacific Group Stock or Timber Stock, as
     applicable, at such record date (treating the price per share of the
     securities convertible into Georgia-Pacific Group Stock or Timber Stock, as
     applicable, as equal to (x) the sum of (i) the price for a unit of the
     security convertible into Georgia-Pacific Group Stock or Timber Stock, as
     applicable, and (ii) any additional consideration initially payable upon
     the conversion of such security into Georgia-Pacific Group Stock or Timber
     Stock, as applicable, divided by (y) the number of shares of Georgia-
     Pacific Group Stock or Timber Stock, as applicable, initially underlying
     such convertible security), the Conversion Price with respect to such
     Securities shall be adjusted so that it shall equal the price determined by
     dividing the Conversion Price in effect immediately prior to the date of
     issuance of such rights or warrants by a fraction, the numerator of which
     shall be the number of shares of Georgia-Pacific Group Stock or Timber
     Stock, as applicable, outstanding on the date of issuance of such rights or
     warrants plus the number of additional shares of Georgia-Pacific Group
     Stock or Timber Stock, as applicable, offered for
<PAGE>

                                                                              69

     subscription or purchase (or into which the convertible securities so
     offered are initially convertible), and the denominator of which shall be
     the number of shares of Georgia-Pacific Group Stock or Timber Stock, as
     applicable, outstanding on the date of issuance of such rights or warrants
     plus the number of shares or securities which the aggregate offering price
     of the total number of shares or securities so offered for subscription or
     purchase (or the aggregate purchase price of the convertible securities so
     offered plus the aggregate amount of any additional consideration initially
     payable upon conversion of such securities into Georgia-Pacific Group Stock
     or Timber Stock, as applicable) would purchase at such Current Market Price
     of the Georgia-Pacific Group Stock or Timber Stock, as applicable. Such
     adjustment shall become effective retroactively immediately after the
     record date for the determination of stockholders entitled to receive such
     rights or warrants.

          (3)  In case the Company shall, at any time or from time to time while
     any of such Securities are Outstanding, distribute to all or substantially
     all holders of shares of its Georgia-Pacific Group Stock or Timber Stock,
     as applicable (including any such distribution made in connection with a
     consolidation or merger in which the Company is the continuing corporation
     and the Georgia-Pacific Group Stock or Timber Stock, as applicable, is not
     changed or exchanged), cash, evidences of its indebtedness, securities or
     assets (excluding (i) regular periodic cash dividends in amounts, if any,
     determined from time to time by the Board of Directors (to the extent paid
     from current or retained earnings of the Company) or (ii) dividends payable
     in shares of Georgia-Pacific Group Stock or Timber Stock, as applicable,
     for which adjustment is made under Section 1503(1)) or rights or warrants
     to subscribe for or purchase securities of the Company (excluding those
     referred to in Section 1503(2)), then in each such case the Conversion
     Price with respect to such Securities shall be adjusted so that it shall
     equal the price determined by dividing the Conversion Price in effect
     immediately prior to the date of such distribution by a fraction, the
     numerator of which shall be the Current Market Price of the Georgia-Pacific
     Group Stock or Timber Stock, as applicable, on the record date referred to
     below, and the denominator of which shall be such Current Market Price of
     the Georgia-Pacific Group Stock or Timber Stock, as applicable, less the
     then fair market value (as determined by the Board of Directors of the
     Company, whose determination shall be conclusive) of the portion of the
     cash or assets or evidences of indebtedness or securities so distributed or
     of such subscription rights or warrants applicable to one share of Georgia-
     Pacific Group Stock or Timber Stock, as applicable (provided that such
     denominator shall never be less than 1.0); provided, however, that no
                                                --------  -------
     adjustment shall be made with respect to any distribution of rights to
     purchase securities of the Company if a Holder of Securities would
     otherwise be entitled to receive such rights upon conversion at any time of
     such Securities into Georgia-Pacific Group Stock or Timber Stock, as
     applicable, unless such rights are subsequently redeemed by the Company, in
     which case such redemption shall be treated for purposes of this section as
     a dividend on the Georgia-Pacific Group Stock or Timber Stock, as
     applicable.  Such adjustment shall become effective retroactively
     immediately after the record date for the determination of stockholders
     entitled to receive such distribution; and in the event that such
     distribution is not so made, the Conversion Price shall again be adjusted
     to the Conversion Price which would then be in effect if such record date
     had not been fixed.

          (4) The Company shall be entitled to make such additional adjustments
     in the Conversion Price, in addition to those required by subsections
     1503(1), 1503(2) and 1503(3), as shall be necessary in order that any
     dividend or distribution of Georgia-Pacific Group Stock or Timber Stock, as
     applicable, any subdivision, reclassification or combination of shares of
     Georgia-Pacific Group Stock or Timber Stock, as applicable, or any issuance
     of rights or
<PAGE>

                                                                              70

     warrants referred to above shall not be taxable to the holders of Georgia-
     Pacific Group Stock or Timber Stock, as applicable, for United States
     Federal income tax purposes.

          (5)  In any case in which this Section 1503 shall require that any
     adjustment be made effective as of or retroactively immediately following a
     record date, the Company may elect to defer (but only for five (5) Trading
     Days following the filing of the statement referred to in Section 1505)
     issuing to the Holder of any Securities converted after such record date
     the shares of Georgia-Pacific Group Stock or Timber Stock, as applicable,
     and other capital stock of the Company issuable upon such conversion over
     and above the shares of Georgia-Pacific Group Stock or Timber Stock, as
     applicable, and other capital stock of the Company issuable upon such
     conversion on the basis of the Conversion Price prior to adjustment;
     provided, however, that the Company shall deliver to such Holder a due bill
     --------  -------
     or other appropriate instrument evidencing such Holder's right to receive
     such additional shares upon the occurrence of the event requiring such
     adjustment.

          (6)  All calculations under this Section 1503 shall be made to the
     nearest cent or one-hundredth of a share or security, with one-half cent
     and 0.005 of a share, respectively, being rounded upward.  Notwithstanding
     any other provision of this Section 1503, the Company shall not be required
     to make any adjustment of the Conversion Price unless such adjustment would
     require an increase or decrease of at least 1% of such price. Any lesser
     adjustment shall be carried forward and shall be made at the time of and
     together with the next subsequent adjustment which, together with any
     adjustment or adjustments so carried forward, shall amount to an increase
     or decrease of at least 1% in such price.  Any adjustments under this
     Section 1503 shall be made successively whenever an event requiring such an
     adjustment occurs.

          (7)  In the event that at any time, as a result of an adjustment made
     pursuant to this Section 1503, the Holder of any Security thereafter
     surrendered for conversion shall become entitled to receive any shares of
     stock of the Company other than shares of Georgia-Pacific Group Stock or
     Timber Stock, as applicable, into which the Securities originally were
     convertible, the Conversion Price of such other shares so receivable upon
     conversion of any such Security shall be subject to adjustment from time to
     time in a manner and on terms as nearly equivalent as practicable to the
     provisions with respect to Georgia-Pacific Group Stock or Timber Stock, as
     applicable, contained in subparagraphs (1) through (6) of this Section
     1503, and the provision of Sections 1501, 1502 and 1504 through 1509 with
     respect to the Georgia-Pacific Group Stock or Timber Stock, as applicable,
     shall apply on like or similar terms to any such other shares and the
     determination of the Board of Directors as to any such adjustment shall be
     conclusive.

          (8)  No adjustment shall be made pursuant to this Section: (i) if the
     effect thereof would be to reduce the Conversion Price below the par value
     (if any) of the Georgia-Pacific Group Stock or Timber Stock, as applicable,
     or (ii) subject to 1503(5) hereof, with respect to any Security that is
     converted prior to the time such adjustment otherwise would be made.

          Section 1504.  Consolidation or Merger of the Company.
                         --------------------------------------

          In case of either (a) any consolidation or merger to which the Company
is a party, other than a merger or consolidation in which the Company is the
surviving or continuing corporation and which does not result in a
reclassification of, or change (other than a change in par value or from par
value to no par value or from no par value to par value) in, outstanding shares
of Georgia-Pacific Group
<PAGE>

                                                                              71

Stock or Timber Stock, as applicable, or (b) any sale or conveyance of all or
substantially all of the property and assets of the Company to another Person,
then each Security then outstanding shall be convertible from and after such
merger, consolidation, sale or conveyance of property and assets into the kind
and amount of shares of stock or other securities and property receivable upon
such consolidation, merger, sale or conveyance by a holder of the number of
shares of Georgia-Pacific Group Stock or Timber Stock, as applicable, into which
such Securities should have been converted immediately prior to such
consolidation, merger, sale or conveyance, subject to adjustments which shall be
as nearly equivalent as may be practicable to the adjustments provided for in
this Article Fifteen (and assuming such holder of Georgia-Pacific Group Stock or
Timber Stock, as applicable, failed to exercise his rights of election, if any,
as to the kind or amount of securities, cash or other property receivable upon
such consolidation, merger, sale or conveyance (provided that, if the kind or
amount of securities, cash or other property receivable upon such consolidation,
merger, sale or conveyance is not the same for each nonelecting share, then the
kind and amount of securities, cash or other property (including cash)
receivable upon such consolidation, merger, sale or conveyance for each
nonelecting share shall be deemed to be the kind and amount so receivable per
share by a plurality of the nonelecting shares or securities)). The Company
shall not enter into any of the transactions referred to in clause (a) or (b) of
the preceding sentence unless effective provision shall be made so as to give
effect to the provisions set forth in this Section 1504. The provisions of this
Section 1504 shall apply similarly to successive consolidations, mergers, sales
or conveyances.

          Section 1505.  Notice of Adjustment.
                         --------------------

          Whenever an adjustment in the Conversion Price with respect to a
series of Securities is required:

          (1)  the Company shall forthwith place on file with the Trustee and
     any Conversion Agent for such Securities a certificate of the Treasurer of
     the Company, stating the adjusted Conversion Price determined as provided
     herein and setting forth in reasonable detail such facts as shall be
     necessary to show the reason for and the manner of computing such
     adjustment, such certificate to be conclusive evidence that the adjustment
     is correct; and

          (2)  a notice stating that the Conversion Price has been adjusted and
     setting forth the adjusted Conversion Price shall forthwith be given by the
     Company, or at Company Request, by the Trustee in the name and at the
     expense of the Company, in the manner provided in Section 106.  Any notice
     so given shall be conclusively presumed to have been duly given, whether or
     not the Holder receives such notice.

          Section 1506.  Notice in Certain Events.
                         ------------------------

          In case:

          (1)  of a consolidation or merger to which the Company is a party and
     for which approval of any stockholders of the Company is required, or of
     the sale or conveyance to another Person or entity or group of Persons or
     entities acting in concert as a partnership, limited partnership, syndicate
     or other group (within the meaning of Rule 13d-3 under the Securities
     Exchange Act of 1934, as amended) of all or substantially all of the
     property and assets of the Company; or
<PAGE>

                                                                              72

          (2)  of the voluntary or involuntary dissolution, liquidation or
     winding up of the Company; or

          (3)  of any action triggering an adjustment of the Conversion Price
     pursuant to this Article Fifteen;

then, in each case, the Company shall cause to be filed with the Trustee and the
Conversion Agent for the applicable Securities, and shall cause to be given, to
the Holders of applicable Securities in the manner provided in Section 106, at
least fifteen (15) days prior to the applicable date hereinafter specified, a
notice stating (x) the date on which a record is to be taken for the purpose of
any distribution or grant of rights or warrants triggering an adjustment to the
Conversion Price pursuant to this Article Fifteen, or, if a record is not to be
taken, the date as of which the holders of record of Georgia-Pacific Group Stock
or Timber Stock, as applicable, entitled to such distribution, rights or
warrants are to be determined, or (y) the date on which any reclassification,
consolidation, merger, sale, conveyance, dissolution, liquidation or winding up
triggering an adjustment to the Conversion Price pursuant to this Article
Fifteen is expected to become effective, and the date as of which it is expected
that holders of Georgia-Pacific Group Stock or Timber Stock, as applicable, of
record shall be entitled to exchange their Georgia-Pacific Group Stock or Timber
Stock, as applicable, for securities or other property deliverable upon such
reclassification, consolidation, merger, sale, conveyance, dissolution,
liquidation or winding up.

          Failure to give such notice or any defect therein shall not affect the
legality or validity of the proceedings described in clause (1), (2) or (3) of
this Section.

          Section 1507.  Company To Reserve Stock; Registration; Listing.
                         -----------------------------------------------

          (a)  The Company shall at all times reserve and keep available, free
from preemptive rights, out of its authorized but unissued shares of Georgia-
Pacific Group Stock or Timber Stock, as applicable, for the purpose of effecting
the conversion of the Securities, such number of its duly authorized shares of
Georgia-Pacific Group Stock or Timber Stock, as applicable, as shall from time
to time be sufficient to effect the conversion of all applicable Outstanding
Securities into such Georgia-Pacific Group Stock or Timber Stock, as applicable,
at any time (assuming that, at the time of the computation of such number of
shares or securities, all such Securities would be held by a single holder);
provided, however, that nothing contained herein shall preclude the Company from
--------  -------
satisfying its obligations in respect of the conversion of the Securities by
delivery of purchased shares of Georgia-Pacific Group Stock or Timber Stock, as
applicable, which are held in the treasury of the Company.  The Company shall
from time to time, in accordance with the laws of the State of Georgia, use its
best efforts to cause the authorized amount of the Georgia-Pacific Group Stock
or Timber Stock, as applicable, to be increased if the aggregate of the
authorized amount of the Georgia-Pacific Group Stock or Timber Stock, as
applicable, remaining issued and the issued shares of such Georgia-Pacific Group
Stock or Timber Stock, as applicable, in its treasury (other than any such
shares reserved for issuance in any other connection) shall not be sufficient to
permit the conversion of all Securities.  The Company covenants that all shares
of Georgia-Pacific Group Stock or Timber Stock, as applicable, which may be
issued upon conversion of Securities will upon issue be fully paid and
nonassessable and free from all liens and charges and, except as provided in
Section 1508, taxes with respect to the issue thereof.

          (b)  If any shares of Georgia-Pacific Group Stock or Timber Stock, as
applicable, which would be issuable upon conversion of Securities hereunder
require registration with or approval of any governmental authority before such
shares or securities may be issued upon such conversion, the Company will in
good faith and as expeditiously as possible endeavor to cause such shares or
securities
<PAGE>

                                                                              73

to be duly registered or approved, as the case may be. The Company further
covenants that so long as the Georgia-Pacific Group Stock or Timber Stock, as
applicable, shall be listed on the New York Stock Exchange, the Company will, if
permitted by the rules of such exchange, list and keep listed all Georgia-
Pacific Group Stock or Timber Stock, as applicable, issuable upon conversion of
the Securities, and the Company will endeavor to list the shares of Georgia-
Pacific Group Stock or Timber Stock, as applicable, required to be delivered
upon conversion of the Securities prior to such delivery upon any other national
securities exchange upon which the outstanding Georgia-Pacific Group Stock or
Timber Stock, as applicable, is listed at the time of such delivery.

          Section 1508.  Taxes on Conversion.
                         -------------------

          The issue of stock certificates on conversion of Securities shall be
made without charge to the converting Holder for any tax in respect of the issue
thereof, and the Company shall pay any and all documentary, stamp or similar
issue or transfer taxes that may be payable in respect of the issue or delivery
of shares of Georgia-Pacific Group Stock or Timber Stock, as applicable, on
conversion of Securities pursuant hereto.  The Company shall not, however, be
required to pay any such tax which may be payable in respect of any transfer
involved in the issue or delivery of shares of Georgia-Pacific Group Stock or
Timber Stock, as applicable, or the portion, if any, of the Securities which are
not so converted in a name other than that in which the Securities so converted
were registered, and no such issue or delivery shall be made unless and until
the Person requesting such issue has paid to the Company the amount of such tax
or has established to the satisfaction of the Company that such tax has been
paid.

          Section 1509.  Conversion After Record Date.
                         ----------------------------

          If any Securities are surrendered for conversion subsequent to the
Regular Record Date preceding an Interest Payment Date but on or prior to such
Interest Payment Date (except Securities called for redemption on a Redemption
Date between such record date and Interest Payment Date), the Holder of such
Securities at the close of business on such Regular Record Date shall be
entitled to receive the interest payable on such Securities on such Interest
Payment Date notwithstanding the conversion  thereof.  Securities surrendered
for conversion during the period from the close of business on any Regular
Record Date next preceding any Interest Payment Date to the opening of business
on such Interest Payment Date shall (except in the case of  Securities which
have been called for redemption on a Redemption Date within such period) be
accompanied by payment in New York Clearing House funds or other funds and in
the currency acceptable to the Company of an amount equal to the interest
payable on such Interest Payment Date on the Securities being surrendered for
conversion.  Except as provided in this Section 1509 and Section 1502(c), no
adjustments in respect of payments of interest on Securities surrendered for
conversion or any dividends or distributions or interest on the Georgia-Pacific
Group Stock or Timber Stock, as applicable, issued upon conversion shall be made
upon the conversion of any Securities.

          Section 1510.  Company Determination Final.
                         ---------------------------

          Any determination that the Company or the Board of Directors must make
pursuant to this Article shall be conclusive if made in good faith and in
accordance with the provisions of this Article, absent manifest error.

          Section 1511.  Trustee's Disclaimer.
                         --------------------
<PAGE>

                                                                              74

          The Trustee has no duty to determine when an adjustment under this
Article should be made, how it should be made or what it should be.  The Trustee
makes no representation as to the validity or value of any securities or assets
issued upon conversion of Securities.  The Trustee shall not be responsible for
the Company's failure to comply with this Article.  Each Conversion Agent other
than the Company shall have the same protection under this Section as the
Trustee.

          This instrument may be executed in any number of counterparts, each of
which so executed shall be deemed to be an original, but all such counterparts
shall together constitute but one and the same instrument.
<PAGE>

                                                                              75

          IN WITNESS WHEREOF, the parties hereto have caused this Indenture to
be duly executed, and their respective corporate seals to be hereunto affixed
and attested, all as of the day and year first above written.

                                GEORGIA-PACIFIC CORPORATION

                                By:______________________________

[SEAL]

Attest:

____________________

                                  THE BANK OF NEW YORK

                                     as Trustee

                                By:______________________________

[SEAL]

Attest:

____________________
<PAGE>

                                                                              76

STATE OF            )
                    )    ss:
COUNTY OF           )

          On the        day of             , 1999 before me personally came
, to me known, who, being by me duly sworn, did depose and say that
is                             of Georgia-Pacific Corporation, one of the
corporations described in and which executed the foregoing instrument; that
knows the seal of said corporation; that the seal affixed to said instrument is
such corporate seal; that it was so affixed by authority of the Board of
Directors of said corporation, and that                 signed
name thereto by like authority.

                                ---------------------
                                     Notary Public,
                                          My Commission Expires         , 199

STATE OF            )
                    )    ss:
COUNTY OF           )

          On the        day of             , 1998, before me personally came
, to me known, who, being by me duly sworn, did depose and say that
is a                             of The Bank Of New York, one of the
corporations described in and which executed the foregoing instrument; that
knows the seal of said corporation; that the seal affixed to said instrument is
such corporate seal; that it was so affixed by authority of the Board of
Directors of said corporation, and that                 signed
name thereto by like authority.

                                ---------------------
                                     Notary Public,
                                          My Commission Expires         , 199

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