Document:

<PAGE>

                                                                     Exhibit 4.3

                        FORM OF FIXED RATE DEBT SECURITY

                    (FORM OF FACE OF FIXED RATE DEBT SECURITY)

[IF THE DEPOSITORY TRUST COMPANY IS THE DEPOSITORY, INSERT THE FOLLOWING:

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

[IF DEBT SECURITY IS A GLOBAL DEBT SECURITY, INSERT THE FOLLOWING:

TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT
NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR'S
NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO
TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE
REFERRED TO ON THE REVERSE HEREOF.]

No. ___                                                              $__________

                          Verizon Global Funding Corp.
                               ___% Notes due ____

Verizon Global Funding Corp., a corporation duly organized and existing under
the laws of the State of Delaware (herein referred to as the "Company"), for
value received, hereby promises to pay to ___________ or registered assigns, the
principal sum of _____________________ Dollars [*SUBSTITUTE FOREIGN CURRENCY
HERE IF DENOMINATED IN OTHER THAN U.S. DOLLARS*] on ________________ and to pay
interest on said principal sum 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 shall have become due
and payable, and on any overdue principal and (to the extent that payment of
such interest is enforceable under applicable law) on any overdue installment of
interest at the same rate per annum. The interest installment 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 Debt Security (or one or more Predecessor Securities, as defined
in said Indenture) is registered at the close of business on the regular record
date for such interest installment, which shall be the _____ or __________, as
the case may be (whether or not a business day), next preceding such interest
payment date. Any such interest installment not so punctually paid or duly
provided for shall forthwith cease to be payable to the registered holder on
such regular record date, and may be paid to the person in whose name this Debt
Security (or one or more Predecessor Securities) is registered at the close of
business on a special record date to be fixed by the Trustee for the payment of
such defaulted interest, notice whereof shall be given to the registered holders
of this series of Debt Securities not less than 10 days prior to such special
record date, or may be paid at any time in any other lawful manner not
inconsistent with the requirements of any securities exchange on which the Debt
Securities may be listed, and upon such notice as may be required by such
exchange, all as more fully provided in the Indenture hereinafter referred to.
The principal of and the interest on this Debt Security shall be payable at the
office or agency of the Company maintained for that purpose in the City of New
York, State of New York in any coin or currency of the United States of America
which at the time of payment is legal tender for payment of public and private
debts; provided, however, that payment of interest may be made at the option of
the Company by check mailed to the registered holder at such address as shall
appear in the Security Register. This Debt Security shall not
<PAGE>

be entitled to any benefit under the Indenture hereinafter referred to, or be
valid or become obligatory for any purpose, until the Certificate of
Authentication hereon shall have been signed by or on behalf of the Trustee.

The provisions of this Debt Security are continued on the reverse side hereof
and such continued provisions shall for all purposes have the same effect as
though fully set forth at this place.
<PAGE>

The undersigned hereby certifies that the Support Agreement endorsed hereon is a
true and complete copy of the manually executed Support Agreement.

IN WITNESS WHEREOF, the Company has caused this instrument to be executed.

Dated:                                              VERIZON GLOBAL FUNDING CORP.

[Seal]                                              By
                                                      --------------------------
                                                        President

Attest:

By
  ----------------------------
    Secretary
<PAGE>

                          CERTIFICATE OF AUTHENTICATION

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

                            First Union National Bank
                      as Trustee, Authenticating Agent and
                               Security Registrar

                          By
                            ---------------------------
                              Authorized Signatory

                            Dated:
<PAGE>

                       (FORM OF REVERSE OF DEBT SECURITY)

This Debt Security is one of a duly authorized series of Securities of the
Company (herein sometimes referred to as the "Securities"), all issued or to be
issued in one or more series under and pursuant to an Indenture dated as of
December 1, 2000 (the "Indenture"), duly executed and delivered by the Company,
Verizon Communications Inc. ("Verizon Communications") and First Union National
Bank (hereinafter referred to as the "Trustee"), as amended and supplemented,
to which Indenture reference is hereby made for a description of the rights,
limitation of rights, obligations, duties and immunities thereunder of the
Trustee, the Company, Verizon Communications and the holders of the Securities.
By the terms of the Indenture, the Securities are issuable in series which may
vary as to amount, date of maturity, rate of interest and in other respects as
in the Indenture provided. This Debt Security is one of the series designated on
the face hereof (herein called the "Debt Securities") unlimited in aggregate
principal amount.

[INSERT IF GLOBAL DEBT SECURITY - This Global Debt Security shall be
exchangeable for Debt Securities in definitive form registered in the names of
persons other than the Depository or its nominee only if (i) the Depository
notifies the Company that it is unwilling or unable to continue as the
Depository or if at any time such Depository is no longer registered or in good
standing under the Securities Exchange Act of 1934 or other applicable statute
and a successor depository is not appointed by the Company within 90 days or
(ii) the Company executes and delivers to the Trustee an Officers' Certificate
that the Global Debt Security shall be so exchangeable. To the extent that the
Global Debt Security is exchangeable pursuant to the preceding sentence, it
shall be exchangeable for Debt Securities registered in such names as the
Depository shall direct. Notwithstanding any other provision herein, this Global
Debt Security may not be transferred except as a whole by the Depository to a
nominee of such Depository or by a nominee of such Depository to such Depository
or another nominee of such Depository.]

In case an Event of Default, as defined in the Indenture, with respect to the
Debt Securities shall have occurred and be continuing, the principal of all of
the Debt Securities may be declared, and upon such declaration shall become, due
and payable, in the manner, with the effect and subject to the conditions
provided in the Indenture.

The Indenture contains provisions permitting the Company, Verizon Communications
and the Trustee, with the consent of the holders of not less than a majority in
aggregate principal amount of the Securities of each series affected at the time
outstanding, as defined in the Indenture, to execute supplemental indentures for
the purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of the Indenture or of any supplemental indenture or of
modifying in any manner the rights of the holders of the Securities; provided,
however, that no such supplemental indenture shall, among other things, (i)
extend the fixed maturity of any Securities of any series, or reduce the
principal amount thereof, or reduce the rate or extend the time of payment of
interest thereon, or reduce any premium payable upon the redemption thereof, or
modify any provision of the Support Agreement in any way that adversely affects
the rights of holders of Securities, without the consent of the holder of each
Security so affected or (ii) reduce the aforesaid percentage of Securities, the
holders of which are required to consent to any such supplemental indenture,
without the consent of the holders of each Security then outstanding and
affected thereby. The Indenture also contains provisions permitting the holders
of a majority in aggregate principal amount of the Securities of any series at
the time outstanding, on behalf of the holders of Securities of such series, to
waive any past default in the performance of any of the covenants contained in
the Indenture, or established pursuant to the Indenture with respect to such
series, and its consequences, except a default in the payment of the principal
of, or premium, if any, or interest on any of the Securities of such series. Any
such consent or waiver by the registered holder of this Debt Security (unless
revoked as provided in the Indenture) shall be conclusive and binding upon such
holder and upon all future holders and owners of this Debt Security and of any
Debt Security issued in exchange herefor or in place hereof (whether by
registration of transfer or otherwise), irrespective of whether or not any
notation of such consent or waiver is made upon this Debt Security.

No reference herein to the Indenture and no provision of this Debt 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 interest on this Debt
Security at the times and place and at the rate and in the money herein
prescribed.

The Debt Securities are issuable as registered Debt Securities without coupons.
[*IF THE ISSUE IS DENOMINATED IN U.S. DOLLARS, INSERT THE FOLLOWING: The Debt
Securities shall be in denominations of $1,000 or any integral multiple
thereof.*] Debt Securities may be exchanged, upon presentation
<PAGE>

thereof for that purpose, at the office or agency of the Company in the City of
New York, State of New York, for other Debt Securities of authorized
denominations, and for a like aggregate principal amount and series, and upon
payment of a sum sufficient to cover any tax or other governmental charge in
relation thereto.

[The Debt Securities will not be redeemable prior to maturity.]

                                       OR

[The Debt Securities may not be redeemed prior to _________. The Debt Securities
may be redeemed on not less than 30 nor more than 60 days prior notice given as
provided in the Indenture, as a whole or from time to time in part, at the
option of the Company, on any date or dates on or after _________, and prior to
maturity, at the applicable percentage of the principal amount thereof to be
redeemed as set forth below under the heading "Redemption Price" during the
respective twelve month periods beginning ____ of the years shown below:

                     Year                Redemption Price

                     ----                ----------------
                                                %

together, in each case, with accrued interest to the date fixed for redemption
(but if the date fixed for redemption is an interest payment date, the interest
installment payable on such date shall be payable to the registered holder at
the close of business on the applicable record date).

In the event of redemption of this Debt Security in part only, a new Debt
Security of like tenor for the unredeemed portion hereof and otherwise having
the same terms as this Debt Security shall be issued in the name of the holder
hereof upon the presentation and surrender hereof.]

                                       OR

[The Debt Securities may be redeemed on not less than 30 nor more than 60 days'
prior notice given as provided in the indenture, as a whole or from time to time
in part, at the option of the Company, at a redemption price equal to the
greater of (i) 100% of the principal amount thereof and (ii) the sum of the
present values of the remaining scheduled payments of principal and interest
thereon discounted to the date of redemption on a semi-annual basis (assuming a
360-day year consisting of twelve 30-day months) at the Treasury Rate plus __
basis points, plus, in either case, accrued and unpaid interest on the principal
amount being redeemed to such redemption date.

"Treasury Rate" means, with respect to any redemption date, (i) the yield, under
the heading which represents the average for the immediately preceding week,
appearing in the most recently published statistical release published by the
Board of Governors of the Federal Reserve System designated as "Statistical
Release H.15(519)" or any successor publication which is published weekly by the
Board of Governors of the Federal Reserve System and which establishes yields on
actively traded United States Treasury securities adjusted to constant maturity
under the caption "Treasury Constant Maturities," for the maturity corresponding
to the Comparable Treasury Issue (if no maturity within three months before or
after the Remaining Life, yields for the two published maturities most closely
corresponding to the Comparable Treasury Issue shall be determined and the
Treasury Rate shall be interpolated or extrapolated from such yield on a
straight-line basis, rounding to the nearest month) or (ii) if such release (or
any successor release) is not published during the week preceding the
calculation date or does not contain such yields, the rate per annum equal to
the semi-annual equivalent yield to maturity of the Comparable Treasury Issue,
calculated using a price for the Comparable Treasury Issue (expressed as a
percentage of its principal amount) equal to the Comparable Treasury Price for
such redemption date. The Treasury Rate shall be calculated on the third
Business Day preceding the redemption date.

"Business Day" means any calendar day that is not a Saturday, Sunday or legal
holiday in New York, New York and on which commercial banks are open for
business in New York, New York.

"Comparable Treasury Issue" means the United States Treasury security selected
by an Independent Investment Banker as having a maturity comparable to the
remaining term ("Remaining Life") of the Debt Securities to be redeemed that
would be utilized, at the time of selection and in accordance with customary
financial practice, in
<PAGE>

pricing new issues of corporate debt securities of comparable maturity to the
remaining term of such Debt Securities.

"Independent Investment Banker" means an independent investment banking or
commercial banking institution of national standing appointed by the Company.

"Comparable Treasury Price" means (i) the average of three Reference Treasury
Dealer Quotations for such redemption date, or (ii) if the Independent
Investment Banker is unable to obtain three such Reference Treasury Dealer
Quotations, the average of all such quotations obtained.

"Reference Treasury Dealer" means any independent investment banking or
commercial banking institution of national standing and their respective
successors appointed by the Company, provided, however, that if any of the
foregoing shall cease to be a primary U.S. Government securities dealer in The
City of New York (a "Primary Treasury Dealer"), the Company shall substitute
therefor another Primary Treasury Dealer and (ii) any other Primary Treasury
Dealer selected by the Independent Investment Banker and approved in writing by
the Company.

"Reference Treasury Dealer Quotations" means, with respect to each Reference
Treasury Dealer and any redemption date, the average, as determined by the
Independent Investment Banker, of the bid and asked prices for the Comparable
Treasury Issue (expressed in each case as a percentage of its principal amount)
quoted in writing to the Independent Investment Banker at 3:30 p.m., New York
City time, on the third Business Day preceding such redemption date. In the
event of redemption of this Debt Security in part only, a new Debt Security of
like tenor for the unredeemed portion hereof and otherwise having the same terms
as this Debt Security shall be issued in the name of the holder hereof upon the
presentation and surrender hereof. ]

As provided in the Indenture and subject to certain limitations therein set
forth, this Debt Security is transferable by the registered holder hereof on the
Security Register of the Company, upon surrender of this Debt Security for
registration of transfer at the office or agency of the Company in the City of
New York, State of New York accompanied by a written instrument or instruments
of transfer in form satisfactory to the Company or the Security Registrar duly
executed by the registered holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Debt Securities of authorized
denominations and for the same aggregate principal amount and series will be
issued to the designated transferee or transferees. No service charge will be
made for any such transfer, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge payable in relation
thereto.

Prior to due presentment for registration of transfer of this Debt Security the
Company, the Trustee, any paying agent and any Security Registrar for the
securities may deem and treat the registered holder hereof as the absolute owner
hereof (whether or not this Debt Security shall be overdue and notwithstanding
any notice of ownership or writing hereon made by anyone other than the Security
Registrar for the securities) for the purpose of receiving payment of or on
account of the principal hereof and (subject to Section 310 of the Indenture)
interest due hereon and for all other purposes, and neither the Company nor the
Trustee nor any paying agent nor any Security Registrar for the securities shall
be affected by any notice to the contrary.

No recourse shall be had for the payment of the principal of or the interest on
this Debt Security, or for any claim based hereon, or otherwise in respect
hereof, or based on or in respect of the Indenture, against any incorporator,
stockholder, officer or director, past, present or future, as such, of the
Company or of any predecessor or successor corporation, whether by virtue of any
constitution, statute or rule of law, or by the enforcement of any assessment or
penalty or otherwise, all such liability being, by the acceptance hereof and as
part of the consideration for the issuance hereof, expressly waived and
released.

Holders of the Notes are entitled to the benefits of a Support Agreement between
the Company and Verizon Communications Inc. in the form endorsed hereon.

[INSERT IF GLOBAL DEBT SECURITY --The Depository by acceptance of this Global
Debt Security agrees that it will not sell, assign, transfer or otherwise convey
any beneficial interest in this Global Debt Security unless such beneficial
interest is in an amount equal to an authorized denomination for Debt Securities
of this series. ]
<PAGE>

Capitalized terms used herein and not otherwise defined herein shall have the
respective meanings set forth in the Indenture.
<PAGE>

                                SUPPORT AGREEMENT
                                     BETWEEN
                           VERIZON COMMUNICATIONS INC.
                                       AND
                          VERIZON GLOBAL FUNDING CORP.

          This Agreement, made and entered into as of October 31, 2000, by and
between Verizon Communications Inc., a Delaware corporation ("Parent"), and
Verizon Global Funding Corp., a Delaware corporation ("Subsidiary").

                                   WITNESSETH:
                                   -----------

          WHEREAS, Parent is directly or indirectly the owner of 100% of the
outstanding common stock of Subsidiary; and

          WHEREAS, Subsidiary has incurred, and from time to time will incur,
indebtedness through (a) the public and non-public debt markets, (b) the
issuance of commercial paper, (c) bank credit facilities, (d) negotiated loans,
(e) foreign exchange transactions or financial derivative agreements, (f) bid
and performance bonds or financial agreements in respect of the activities of
affiliates and subsidiaries of Verizon Investments Inc. and (g) structured
transactions involving the issuance, repurchase or guarantee of the equity
instruments of subsidiaries of the Parent (including any required capitalization
of such subsidiaries) where the proceeds received from such structured
transactions would be considered indebtedness for U.S. income tax purposes (all
such debt instruments, loans, commercial paper, bank agreements, foreign
exchange transactions, derivative agreements, bid and performance bonds,
financial guarantees and other instruments that would be considered indebtedness
for U.S. income tax purposes being hereinafter referred to as "Debt"), thereby
incurring indebtedness to parties other than Parent and its affiliates; and

          WHEREAS, in order to enhance and maintain the financial condition of
Subsidiary to enhance its ability to issue Debt, Parent and Subsidiary from time
to time have entered into support agreements, including a Support Agreement
dated as of April 3, 1998 (the "1998 Support Agreement"); and

          WHEREAS, Parent and Subsidiary desire to amend and restate the 1998
Support Agreement in its entirety as hereinafter set forth;

          NOW, THEREFORE, in consideration of the mutual promises herein
contained, the parties hereto agree that the 1998 Support Agreement shall be
amended and restated in its entirety as follows:

          1.   Stock Ownership. During the term of this Agreement, Parent will
               ---------------
own directly or indirectly all of the voting capital stock of Subsidiary now or
hereafter issued and outstanding.

          2.   Net Worth. During the term of this Agreement, Parent shall cause
               ---------
Subsidiary to maintain at all times a positive tangible net worth, as determined
in accordance with generally accepted accounting principles.

          3.   Liquidity Provision. If, during the term of this Agreement,
               -------------------
Subsidiary requires funds to make timely payment of interest, principal or
premium, if any, on any Debt, and such funds are not obtainable by Subsidiary
from other sources on commercially reasonable terms, Parent shall provide to
Subsidiary, at its request, such funds either as equity or as a loan, at
Parent's option, to assure that the Subsidiary will be able to pay such
principal, interest and premium, if any, when due. If such funds are advanced to
Subsidiary as a loan, such loan shall be on such terms and conditions, including
maturity and rate of interest, as Parent and Subsidiary shall agree.
Notwithstanding the foregoing, any such loan shall be subordinated in all
respects to any and all Debt, whether or not such Debt is outstanding at the
time of such loan.

          4.   Waivers. Parent hereby waives any failure or delay on the part of
               -------
Subsidiary in asserting or enforcing any of its right or in making any claims or
demands hereunder.
<PAGE>

          5.   Rights of Lender. Except as may be provided in any indenture or
               ----------------
agreement pursuant to which Debt is issued, any Lender (defined below) shall
have the right to proceed directly against Parent without first proceeding
against Subsidiary to enforce Subsidiary's rights under paragraphs 1, 2 and 3 of
this Agreement or to obtain payment of any defaulted interest, principal or
premium owed to such Lender. However, in no event may any Lender, on default by
Parent or Subsidiary under the terms of the indenture or other agreement
pursuant to which Debt is issued, or upon failure to comply with this Agreement
by Parent or Subsidiary, have recourse to or against the stock or assets of
Verizon Services Corp., Telecom Corporation of New Zealand Limited or any
operating telephone company which may from time to time be owned directly or
indirectly by Parent. The Term "Lender", as used in this Agreement, shall mean
any Person, firm or corporation to which Subsidiary is indebted for the Debt or
which is acting as trustee or authorized representative with respect to the Debt
on behalf of such person, firm or corporation.

          6.   Termination; Amendment. This Agreement may be modified or amended
               ----------------------
in a manner that adversely affects the rights of the holders of Debt only if all
Lenders consent in advance and in writing to such modification or amendment. No
modification or amendment to this Agreement relating to the provisions set forth
in paragraphs 1, 2, 3 or 5 or this sentence shall be made unless Subsidiary
applies to the Securities and Exchange Commission for an amended order relating
to such modifications or amendment, and the Commission grants such amended
order. This Agreement may be terminated by either the Parent or the Subsidiary
by notice to the other party, provided that such termination shall be effective
only after all outstanding Debt issued by the Subsidiary is paid in full.
<PAGE>

          7.   Notice. Any notice, instruction, request, consent, demand or
               ------
other communication required or contemplated by this Agreement to be in writing,
shall be given or made or communicated by United States first class mail,
addressed as follows:

If to Parent;                    Verizon Communications Inc.
                                 1095 Avenue of the Americas
                                 New York, New York  10036

                                 Attention:  Senior Vice President and Treasurer

If to Subsidiary:                Verizon Global Funding Corp.
                                 3900 Washington Street, 2nd Floor
                                 Wilmington, Delaware  19802

                                 Attention:  President and Treasurer

          8.   Successors. The covenants, representations, warranties and
               ----------
agreements herein set forth shall be mutually binding upon, and inure to the
mutual benefit of, Parent and its successors, Subsidiary and its successors and
Lenders from time to time.

          9.   Governing Law; Counterparts. This Agreement shall be governed by
               ---------------------------
the laws of the State of New York. This instrument may be executed in
counterparts and the executed counterparts shall together constitute one
instrument.
<PAGE>

          IN WITNESS WHEREOF, the parties have set their hands and affixed their
corporate seals as of the day and year first above written.

ATTEST:                                  VERIZON COMMUNICATIONS INC.

By: /s/ Robert W. Erb                    By: /s/ William F. Heitmann
   ------------------------------           ------------------------------------
   Assistant Secretary                      Senior Vice President and Treasurer
(SEAL)

ATTEST:                                  VERIZON GLOBAL FUNDING CORP.

By: /s/ Robert W. Erb                    By: /s/ Janet M. Garrity
   ------------------------------           ------------------------------------
   Secretary                                President and Treasurer

 (SEAL)<PAGE>

                                                                     EXHIBIT 4.4

                  FORM OF FLOATING RATE DEBT SECURITY (LIBOR)

                  (FORM OF FACE OF FLOATING RATE DEBT SECURITY)

[IF THE DEPOSITORY TRUST COMPANY IS THE DEPOSITORY, INSERT THE FOLLOWING:

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

[IF DEBT SECURITY IS A GLOBAL DEBT SECURITY, INSERT THE FOLLOWING:

TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT
NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR'S
NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO
TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE
REFERRED TO ON THE REVERSE HEREOF.]

No. ___                                                              $__________

                         Verizon Global Funding Corp.
                           [TITLE OF DEBT SECURITY]

VERIZON GLOBAL FUNDING CORP., a corporation duly organized and existing under
the laws of the State of Delaware (herein referred to as the "Company"), for
value received, hereby promises to pay to ________________, or registered
assigns, the principal sum of _______________________ Dollars on ______________
(the "Maturity Date"), and to pay interest on said principal sum at the floating
rate per annum determined in accordance with the provisions below (the "Interest
Rate"), until the principal hereof is paid or duly provided for, and (to the
extent that payment of such interest is legally enforceable) at the Default Rate
(as defined below) per annum on any overdue principal, premium, if any, and/or
interest. The Company will pay interest in arrears on each Interest Payment Date
(as defined below), commencing with the first Interest Payment Date next
succeeding ___________, (the "Original Issue Date"), and on the Maturity Date.
Interest on this Debt Security will be computed on the basis of a 360 day year
for the actual number of days elapsed. As used herein, "Interest Payment Date"
means each ________________ in each year, provided that if any such date falls
on a day that is not a Business Day with respect to this Debt Security the
applicable Interest Payment Date shall be the next succeeding Business Day
unless such Business Day is in the next succeeding calendar month, in which case
the applicable Interest Payment Date shall be the immediately preceding Business
Day.

Interest on this Debt Security will accrue from, and including, the immediately
preceding Interest Payment Date to which interest has been paid or duly provided
for (or from, and including, the Original Issue Date if no interest has been
paid or duly provided for) to, but excluding, the next applicable Interest
Payment Date or the Maturity Date, as the case may be (each, an "Interest
Period"). The amount of accrued interest payable for any Interest Period, shall
be calculated by multiplying the face amount of this Debt Security by an accrued
interest factor. Such accrued interest factor is computed by adding the interest
factor calculated for each day from the Original Issue Date, computed by
dividing the Interest Rate applicable to such day by 360.

If the Maturity Date of this Debt Security falls on a day that is not a Business
Day, the payment of principal,
<PAGE>

premium, if any, and interest shall be made on the next succeeding Business Day,
as if made on the date such payment was due, and no interest on such payment
shall accrue on such payment for the period from and after the Maturity Date to
the date of such payment on the next succeeding Business Day.

The interest so payable and punctually paid or duly provided for on any Interest
Payment Date will, subject to certain exceptions described herein, be paid to
the person in whose name this Debt Security (or one or more predecessor Debt
Securities) is registered (the "holder") at the close of business on the
fifteenth calendar day (whether or not a Business Day, as defined below)
immediately preceding such Interest Payment Date (the "Record Date"); provided,
however, that interest payable on the Maturity Date shall be payable to the
person to whom the principal hereof and premium, if any, hereon shall be
payable. Any such interest not so punctually paid or duly provided for
("Defaulted Interest") will forthwith cease to be payable to the holder on any
Record Date, and shall be paid to the person in whose name this Debt Security is
registered at the close of business on a special record date (the "Special
Record Date") for the payment of such Defaulted Interest to be fixed by the
Trustee (as defined on the reverse hereof), notice whereof shall be given to
the holder of this Debt Security by the Trustee not less than 10 calendar days
prior to such Special Record Date or may be paid at any time in any other lawful
manner not inconsistent with the requirements of any securities exchange on
which this Debt Security may be listed, and upon such notice as may be required
by such exchange, all as more fully provided for in the Indenture. The Default
Rate applicable to this Debt Security shall be LIBOR [plus/minus] __%.

Payment of principal, premium, if any, and interest in respect of this Debt
Security shall be made in immediately available funds upon presentation and
surrender of this Debt Security (and, with respect to any applicable repayment
of this Debt Security, a duly completed election form as contemplated on the
reverse hereof) at the corporate trust office of the Trustee ("Corporate Trust
Office") in the Borough of Manhattan, The City of New York, State of New York,
or at such other paying agency in The City of New York, State of New York, as
the Company may determine. Payment of interest due on any Interest Payment Date
other than the Maturity Date may be made at the option of the Company by check
mailed to the address of the person entitled thereto as such address shall
appear in the Security Register maintained at the aforementioned office of the
Trustee; provided, however, that a holder of U.S.$10,000,000 or more in
aggregate principal amount of Debt Securities shall be entitled to receive
interest payments on such Interest Payment Date by wire transfer of immediately
available funds if appropriate wire transfer instructions have been received in
writing by the Trustee not less than 15 calendar days prior to such Interest
Payment Date. Any such wire transfer instructions received by the Trustee shall
remain in effect until revoked by such holder.

As used herein, "Business Day" means any day except a Saturday, Sunday or a
legal holiday in The City of New York, State of New York on which banking
institutions are authorized or required by law, regulation or executive order to
close; provided, that such day is also a London Business Day.  "London Business
Day" means any day on which dealings in United States dollars are transacted in
the London interbank market.

The Interest Rate on this Debt Security shall be calculated by an agent
appointed by the Company for the purpose (the "Calculation Agent") and shall be
equal to LIBOR (as defined below) [plus/minus] _____%; provided, however, that
the Interest Rate in effect for the period from the Original Issue Date to the
Initial Interest Reset Date (as defined below) shall be _____% (the "Initial
Interest Rate"). The Interest Rate shall be reset each ________ (each an
"Interest Reset Date"), commencing ______, ____ (the "Initial Interest Reset
Date"). The Interest Rate in effect on each day that is not an Interest Reset
Date shall be the Interest Rate determined as of the second London Business Day
(as defined below) preceding the applicable Interest Reset Date (each an
"Interest Determination Date") pertaining to the immediately preceding Interest
Reset Date and the Interest Rate in effect on any day that is an Interest Reset
Date shall be the Interest Rate determined as of the Interest Determination Date
pertaining to such Interest Reset Date; provided, however, that the interest
rate in effect for the period from the Original Issue Date to the first Interest
Reset Date shall be the Initial Interest Rate. If any Interest Reset Date would
otherwise be a day that is not a Business Day, the Interest Reset Date shall be
postponed to the next succeeding day that is a Business Day, except that if such
Business Day falls in the next succeeding calendar month, such Interest Reset
Date shall be the immediately preceding Business Day.

"LIBOR" shall be determined by the Calculation Agent in accordance with the
following provisions:

     (i)  With respect to any Interest Determination Date, LIBOR shall be the
rate for deposits in United States
<PAGE>

dollars having a maturity of __ months commencing on the first day of the
applicable Interest Period that appears on Telerate Page 3750 as of 11:00 A.M.,
London time, on such Interest Determination Date. If no such rate appears LIBOR
in respect to such Interest Determination Date shall be determined in accordance
with the provisions described in (ii) below.

     (ii)  With respect to an Interest Determination Date on which no rate
appears on Telerate Page 3750, as specified in (i) above, the Calculation Agent
will request the principal London offices of each of four major reference banks
in the London interbank market, as selected by the Calculation Agent, to provide
the Calculation Agent with its offered quotation for deposits in United States
dollars for the period of __ months, commencing on the first day of the
applicable Interest Period, to prime banks in the London interbank market at
approximately 11:00 A.M., London time, on such Interest Determination Date and
in a principal amount that is representative for a single transaction in United
States dollars in such market at such time. If at least two such quotations are
so provided, then LIBOR on such Interest Determination Date shall be the
arithmetic mean of such quotations. If fewer than two such quotations are so
provided, then LIBOR on such Interest Determination Date shall be the arithmetic
mean of the rates quoted at approximately 11:00 A.M., in The City of New York,
on such Interest Determination Date by three major banks in The City of New York
selected by the Calculation Agent for loans in United States dollars to leading
European banks, having a __-month maturity and in a principal amount that is
representative for a single transaction in United States dollars in such market
at such time; provided, however, that if the banks so selected by the
Calculation Agent are not quoting as mentioned in this sentence, LIBOR
determined as of such Interest Determination Date shall be LIBOR in effect on
such Interest Determination Date.

"Telerate Page 3750" means the display designated as "Page 3750" on Telerate,
Inc. (or any successor service) for the purpose of displaying the London
interbank rates of major banks for United States dollars.

The Interest Rate applicable to each Interest Period commencing on the related
Interest Reset Date shall be the rate determined as of the applicable Interest
Determination Date on or prior to the Calculation Date (as defined below).

The Calculation Agent (which initially shall be First Union National Bank and
which may be changed by the Company from time to time) shall calculate the
Interest Rate on this Debt Security on or before each Calculation Date and, upon
request, provide holders of the Debt Securities the Interest Rate then in effect
and, if determined, the Interest Rate which shall become effective as a result
of a determination made for the next succeeding Interest Reset Date with respect
to this Debt Security.  The Calculation Agent's determination of any interest
rate shall be final and binding absent error in the calculation thereof.  The
"Calculation Date" pertaining to any Interest Determination Date shall be the
earlier of (a) the tenth calendar day after such Interest Determination Date, or
if any such day is not a Business Day, the next succeeding Business Day, or (b)
the Business Day immediately preceding the applicable Interest Payment Date or
the Maturity Date, as the case may be.

Notwithstanding the other provisions herein, the Interest Rate hereon shall in
no event be higher than the maximum rate permitted by New York law, as the same
may be modified by United States law of general application.

Except as otherwise provided herein, all percentages resulting from any
calculation shall be rounded, if necessary, to the nearest one hundred-
thousandth of a percentage point, with five one-millionths of a percentage point
rounded upwards (e.g., 9.876545% (or .09876545) would be rounded to 9.87655% (or
 .0987655)), and all amounts used in or resulting from such calculation shall be
rounded to the nearest cent (with one-half cent being rounded upward).

The Company is obligated to make payments of principal, premium, if any, and
interest, if any, in respect of this Debt Security in United States dollars.

This Debt Security shall not be entitled to any benefit under the Indenture
hereinafter referred to, or be valid or become obligatory for any purpose, until
the Certificate of Authentication hereon shall have been signed by or on behalf
of the Trustee.

The provisions of this Debt Security are continued on the reverse side hereof
and such continued provisions shall for all purposes have the same effect as
though fully set forth at this place.
<PAGE>

The undersigned hereby certifies that the Support Agreement endorsed hereon is a
true and complete copy of the manually executed Support Agreement.

IN WITNESS WHEREOF, the Company has caused this instrument to be executed.

Dated:                                          VERIZON GLOBAL FUNDING CORP.

[Seal]                                           By __________________
                                                     President

Attest:

By _____________________
   Secretary
<PAGE>

                         CERTIFICATE OF AUTHENTICATION

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

                           First Union National Bank
                      as Trustee, Authenticating Agent and
                               Security Registrar

                         By __________________________
                              Authorized Signatory

                           Dated:

<PAGE>

                      (FORM OF REVERSE OF DEBT SECURITY)

This Debt Security is one of a duly authorized series of Securities of the
Company (herein sometimes referred to as the "Securities"), all issued or to be
issued in one or more series under and pursuant to an Indenture dated as of
December 1, 2000 (the "Indenture"), duly executed and delivered by the Company,
Verizon Communications Inc. ("Verizon Communications") and First Union National
Bank (hereinafter referred to as the "Trustee"), as amended and supplemented, to
which Indenture reference is hereby made for a description of the rights,
limitation of rights, obligations, duties and immunities thereunder of the
Trustee, the Company, Verizon Communications and the holders of the Securities.
By the terms of the Indenture, the Securities are issuable in series which may
vary as to amount, date of maturity, rate of interest and in other respects as
in the Indenture provided. This Debt Security is one of the series designated on
the face hereof (herein called the "Debt Securities") unlimited in aggregate
principal amount.

[INSERT IF GLOBAL DEBT SECURITY - This Global Debt Security shall be
exchangeable for Debt Securities in definitive form registered in the names of
persons other than the Depository or its nominee only if (i) the Depository
notifies the Company that it is unwilling or unable to continue as the
Depository or if at any time such Depository is no longer registered or in good
standing under the Securities Exchange Act of 1934 or other applicable statute
and a successor depository is not appointed by the Company within 90 days or
(ii) the Company executes and delivers to the Trustee an Officers' Certificate
that the Global Debt Security shall be so exchangeable. To the extent that the
Global Debt Security is exchangeable pursuant to the preceding sentence, it
shall be exchangeable for Debt Securities registered in such names as the
Depository shall direct. Notwithstanding any other provision herein, this Global
Debt Security may not be transferred except as a whole by the Depository to a
nominee of such Depository or by a nominee of such Depository to such Depository
or another nominee of such Depository.]

In case an Event of Default, as defined in the Indenture, with respect to the
Debt Securities shall have occurred and be continuing, the principal of all of
the Debt Securities may be declared, and upon such declaration shall become, due
and payable, in the manner, with the effect and subject to the conditions
provided in the Indenture.

The Indenture contains provisions permitting the Company, Verizon Communications
and the Trustee, with the consent of the holders of not less than a majority in
aggregate principal amount of the Securities of each series affected at the time
outstanding, as defined in the Indenture, to execute supplemental indentures for
the purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of the Indenture or of any supplemental indenture or of
modifying in any manner the rights of the holders of the Securities; provided,
however, that no such supplemental indenture shall, among other things, (i)
extend the fixed maturity of any Securities of any series, or reduce the
principal amount thereof, or reduce the rate or extend the time of payment of
interest thereon, or reduce any premium payable upon the redemption thereof, or
modify any provision of the Support Agreement in any way that adversely affects
the rights of holders of Securities, without the consent of the holder of each
Security so affected or (ii) reduce the aforesaid percentage of Securities, the
holders of which are required to consent to any such supplemental indenture,
without the consent of the holders of each Security then outstanding and
affected thereby. The Indenture also contains provisions permitting the holders
of a majority in aggregate principal amount of the Securities of any series at
the time outstanding, on behalf of the holders of Securities of such series, to
waive any past default in the performance of any of the covenants contained in
the Indenture, or established pursuant to the Indenture with respect to such
series, and its consequences, except a default in the payment of the principal
of, or premium, if any, or interest on any of the Securities of such series. Any
such consent or waiver by the registered holder of this Debt Security (unless
revoked as provided in the Indenture) shall be conclusive and binding upon such
holder and upon all future holders and owners of this Debt Security and of any
Debt Security issued in exchange herefor or in place hereof (whether by
registration of transfer or otherwise), irrespective of whether or not any
notation of such consent or waiver is made upon this Debt Security.

No reference herein to the Indenture and no provision of this Debt 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 interest on this Debt
Security at the times and place and at the rate and in the money herein
prescribed.

The Debt Securities are issuable as registered Debt Securities without coupons.
[*IF THE ISSUE IS DENOMINATED IN U.S. DOLLARS, INSERT THE FOLLOWING:  The Debt
Securities shall be  in denominations of $1,000 or any integral multiple
thereof.*] Debt Securities may be exchanged, upon presentation
<PAGE>

thereof for that purpose, at the office or agency of the Company in the City of
New York, State of New York, for other Debt Securities of authorized
denominations, and for a like aggregate principal amount and series, and upon
payment of a sum sufficient to cover any tax or other governmental charge in
relation thereto.

The Debt Securities will not be redeemable prior to maturity.

As provided in the Indenture and subject to certain limitations therein set
forth, this Debt Security is transferable by the registered holder hereof on the
Security Register of the Company, upon surrender of this Debt Security for
registration of transfer at the office or agency of the Company in the City of
New York, State of New York accompanied by a written instrument or instruments
of transfer in form satisfactory to the Company or the Security Registrar duly
executed by the registered holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Debt Securities of authorized
denominations and for the same aggregate principal amount and series will be
issued to the designated transferee or transferees. No service charge will be
made for any such transfer, but
<PAGE>

the Company may require payment of a sum sufficient to cover any tax or other
governmental charge payable in relation thereto.

Prior to due presentment for registration of transfer of this Debt Security the
Company, the Trustee, any paying agent and any Security Registrar for the
securities may deem and treat the registered holder hereof as the absolute owner
hereof (whether or not this Debt Security shall be overdue and notwithstanding
any notice of ownership or writing hereon made by anyone other than the Security
Registrar for the securities) for the purpose of receiving payment of or on
account of the principal hereof and (subject to Section 310 of the Indenture)
interest due hereon and for all other purposes, and neither the Company nor the
Trustee nor any paying agent nor any Security Registrar for the securities shall
be affected by any notice to the contrary.

No recourse shall be had for the payment of the principal of or the interest on
this Debt Security, or for any claim based hereon, or otherwise in respect
hereof, or based on or in respect of the Indenture, against any incorporator,
stockholder, officer or director, past, present or future, as such, of the
Company or of any predecessor or successor corporation, whether by virtue of any
constitution, statute or rule of law, or by the enforcement of any assessment or
penalty or otherwise, all such liability being, by the acceptance hereof and as
part of the consideration for the issuance hereof, expressly waived and
released.

Holders of the Notes are entitled to the benefits of a Support Agreement between
the Company and Verizon Communications Inc. in the form endorsed hereon.

[INSERT IF GLOBAL DEBT SECURITY --The Depository by acceptance of this Global
Debt Security agrees that it will not sell, assign, transfer or otherwise convey
any beneficial interest in this Global Debt Security unless such beneficial
interest is in an amount equal to an authorized denomination for Debt Securities
of this series. ]

Capitalized terms used herein and not otherwise defined herein shall have the
respective meanings set forth in the Indenture.
<PAGE>

                               SUPPORT AGREEMENT
                                    BETWEEN
                          VERIZON COMMUNICATIONS INC.
                                      AND
                         VERIZON GLOBAL FUNDING CORP.

          This Agreement, made and entered into as of October 31, 2000, by and
between Verizon Communications Inc., a Delaware corporation ("Parent"), and
Verizon Global Funding Corp., a Delaware corporation ("Subsidiary").

                             W I T N E S S E T H :
                             --------------------

          WHEREAS, Parent is directly or indirectly the owner of 100% of the
outstanding common stock of Subsidiary; and

          WHEREAS, Subsidiary has incurred, and from time to time will incur,
indebtedness through (a) the public and non-public debt markets, (b) the
issuance of commercial paper, (c) bank credit facilities, (d) negotiated loans,
(e) foreign exchange transactions or financial derivative agreements, (f) bid
and performance bonds or financial agreements in respect of the activities of
affiliates and subsidiaries of Verizon Investments Inc. and (g) structured
transactions involving the issuance, repurchase or guarantee of the equity
instruments of subsidiaries of the Parent (including any required capitalization
of such subsidiaries) where the proceeds received from such structured
transactions would be considered indebtedness for U.S. income tax purposes (all
such debt instruments, loans, commercial paper, bank agreements, foreign
exchange transactions, derivative agreements, bid and performance bonds,
financial guarantees and other instruments that would be considered indebtedness
for U.S. income tax purposes being hereinafter referred to as "Debt"), thereby
incurring indebtedness to parties other than Parent and its affiliates; and

          WHEREAS, in order to enhance and maintain the financial condition of
Subsidiary to enhance its ability to issue Debt, Parent and Subsidiary from time
to time have entered into support agreements, including a Support Agreement
dated as of April 3, 1998 (the "1998 Support Agreement"); and

          WHEREAS, Parent and Subsidiary desire to amend and restate the 1998
Support Agreement in its entirety as hereinafter set forth;

          NOW, THEREFORE, in consideration of the mutual promises herein
contained, the parties hereto agree that the 1998 Support Agreement shall be
amended and restated in its entirety as follows:

          1.  Stock Ownership.  During the term of this Agreement, Parent will
              ---------------
own directly or indirectly all of the voting capital stock of Subsidiary now or
hereafter issued and outstanding .

          2.  Net Worth.  During the term of this Agreement, Parent shall cause
              ---------
Subsidiary to maintain at all times a positive tangible net worth, as determined
in accordance with generally accepted accounting principles.

          3.  Liquidity Provision.  If, during the term of this Agreement,
              -------------------
Subsidiary requires funds to make timely payment of interest, principal or
premium, if any, on any Debt, and such funds are not obtainable by Subsidiary
from other sources on commercially reasonable terms, Parent shall provide to
Subsidiary, at its request, such funds either as equity or as a loan, at
Parent's option, to assure that the Subsidiary will be able to pay such
principal, interest and premium, if any, when due. If such funds are advanced to
Subsidiary as a loan, such loan shall be on such terms and conditions, including
maturity and rate of interest, as Parent and Subsidiary shall agree.
Notwithstanding the foregoing, any such loan shall be subordinated in all
respects to any and all Debt, whether or not such Debt is outstanding at the
time of such loan.

          4.  Waivers.  Parent hereby waives any failure or delay on the part of
              -------
Subsidiary in asserting or enforcing any of its right or in making any claims or
demands hereunder.
<PAGE>

          5.  Rights of Lender.  Except as may be provided in any indenture or
              ----------------

agreement pursuant to which Debt is issued, any Lender (defined below) shall
have the right to proceed directly against Parent without first proceeding
against Subsidiary to enforce Subsidiary's rights under paragraphs 1, 2 and 3 of
this Agreement or to obtain payment of any defaulted interest, principal or
premium owed to such Lender. However, in no event may any Lender, on default by
Parent or Subsidiary under the terms of the indenture or other agreement
pursuant to which Debt is issued, or upon failure to comply with this Agreement
by Parent or Subsidiary, have recourse to or against the stock or assets of
Verizon Services Corp., Telecom Corporation of New Zealand Limited or any
operating telephone company which may from time to time be owned directly or
indirectly by Parent. The Term "Lender", as used in this Agreement, shall mean
any Person, firm or corporation to which Subsidiary is indebted for the Debt or
which is acting as trustee or authorized representative with respect to the Debt
on behalf of such person, firm or corporation.

          6.  Termination; Amendment.  This Agreement may be modified or amended
              ----------------------
in a manner that adversely affects the rights of the holders of Debt only if all
Lenders consent in advance and in writing to such modification or amendment. No
modification or amendment to this Agreement relating to the provisions set forth
in paragraphs 1, 2, 3 or 5 or this sentence shall be made unless Subsidiary
applies to the Securities and Exchange Commission for an amended order relating
to such modifications or amendment, and the Commission grants such amended
order. This Agreement may be terminated by either the Parent or the Subsidiary
by notice to the other party, provided that such termination shall be effective
only after all outstanding Debt issued by the Subsidiary is paid in full.
<PAGE>

          7.  Notice.  Any notice, instruction, request, consent, demand or
              ------
other communication required or contemplated by this Agreement to be in writing,
shall be given or made or communicated by United States first class mail,
addressed as follows:

If to Parent;                    Verizon Communications Inc.
                                 1095 Avenue of the Americas
                                 New York, New York  10036

                                 Attention:  Senior Vice President and Treasurer

If to Subsidiary:                Verizon Global Funding Corp.
                                 3900 Washington Street, 2nd Floor
                                 Wilmington, Delaware  19802

                                 Attention:  President and Treasurer

          8.  Successors.  The covenants, representations, warranties and
              ----------
agreements herein set forth shall be mutually binding upon, and inure to the
mutual benefit of, Parent and its successors, Subsidiary and its successors and
Lenders from time to time.

          9.  Governing Law; Counterparts.  This Agreement shall be governed by
              ---------------------------
the laws of the State of New York. This instrument may be executed in
counterparts and the executed counterparts shall together constitute one
instrument.
<PAGE>

          IN WITNESS WHEREOF, the parties have set their hands and affixed their
corporate seals as of the day and year first above written.

ATTEST:                                  VERIZON COMMUNICATIONS INC.

By: /s/ Robert W. Erb                    By: /s/ William F. Heitmann
    -----------------------                  -----------------------------------
    Assistant Secretary                      Senior Vice President and Treasurer

(SEAL)

ATTEST:                                  VERIZON GLOBAL FUNDING CORP.

By: /s/ Robert W. Erb                    By: /s/ Janet M. Garrity
    -----------------------                  -----------------------------------
    Secretary                                President and Treasurer

(SEAL)

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