Document:

GEHL COMPANY
AS ISSUER  

AND 

THE SUBSIDIARY
GUARANTORS NAMED HEREIN,
AS SUBSIDIARY GUARANTORS  

TO 

_________________ 
AS
TRUSTEE  

SENIOR INDENTURE 

DATED AS OF
_____________, 200_ 

     

TABLE OF CONTENTS 

		Page
	PARTIES	1  
	
RECITALS OF THE COMPANY AND THE SUBSIDIARY GUARANTORS	1  

ARTICLE ONE
                                                   
DEFINITIONS AND OTHER PROVISIONS
                                                        
OF GENERAL APPLICATION 

			
	SECTION 101.	Definitions	1  
	SECTION 102.	Compliance Certificates and Opinions	8  
	SECTION 103.	Form of Documents Delivered to Trustee	8  
	SECTION 104.	Acts of Holders; Record Dates	9  
	SECTION 105.	Notices, Etc., to Trustee and Company	11
	SECTION 106.	Notice to Holders; Waiver	11
	SECTION 107.	Conflict with Trust Indenture Act	12
	SECTION 108.	Effect of Headings and Table of Contents	12
	SECTION 109.	Successors and Assigns	12
	SECTION 110.	Separability Clause	12
	SECTION 111.	Benefits of Indenture	12
	SECTION 112.	Governing Law	12
	SECTION 113.	Legal Holidays	12

ARTICLE TWO
                                                            
SECURITY FORMS 

			
	SECTION 201.	Forms Generally	13
	SECTION 202.	Form of Face of Security	13
	SECTION 203.	Form of Reverse of Security	15
	SECTION 204.	Form of Subsidiary Guarantee	18
	SECTION 205.	Form of Legend for Global Securities	21
	SECTION 206.	Form of Trustee's Certificate of Authentication	21
	SECTION 207.	Form of Conversion Notice	21

ARTICLE THREE
                                                            
THE SECURITIES 

			
	SECTION 301.	Amount Unlimited; Issuable in Series	22
	SECTION 302.	Denominations	25
	SECTION 303.	Execution, Authentication, Delivery and Dating	25
	SECTION 304.	Temporary Securities	27
	SECTION 305.	Registration, Registration of Transfer and Exchange	27
	SECTION 306.	Mutilated, Destroyed, Lost and Stolen Securities	29

			
			
	SECTION 307.	Payment of Interest; Interest Rights Preserved	30
	SECTION 308.	Persons Deemed Owners	31
	SECTION 309.	Cancellation	31
	SECTION 310.	Computation of Interest	31

ARTICLE FOUR
                                                      
SATISFACTION AND DISCHARGE 

			
	SECTION 401.	Satisfaction and Discharge of Indenture	31
	SECTION 402	Application of Trust Money	33.

ARTICLE FIVE
                                                               
REMEDIES 

			
	SECTION 501.	Events of Default	33
	SECTION 502.	Acceleration of Maturity; Rescission and Annulment	35
	SECTION 503.	Collection of Indebtedness and Suits for Enforcement by Trustee	36
	SECTION 504.	Trustee May File Proofs of Claim	36
	SECTION 505.	Trustee May Enforce Claims Without Possession of Securities	37
	SECTION 506.	Application of Money Collected	37
	SECTION 507.	Limitation on Suits	38
	SECTION 508.	Unconditional Right of Holders to Receive Principal, Premium and Interest	38
	SECTION 509.	Restoration of Rights and Remedies	38
	SECTION 510.	Rights and Remedies Cumulative	39
	SECTION 511.	Delay or Omission Not Waiver	39
	SECTION 512.	Control by Holders	39
	SECTION 513.	Waiver of Past Defaults	39
	SECTION 514.	Undertaking for Costs	40
	SECTION 515.	Waiver of Usury, Stay or Extension Laws	40

ARTICLE SIX
                                                              
THE TRUSTEE 

			
	SECTION 601.	Certain Duties and Responsibilities	40
	SECTION 602.	Notice of Defaults	40
	SECTION 603.	Certain Rights of Trustee	41
	SECTION 604.	Not Responsible for Recitals or Issuance of Securities	42
	SECTION 605.	May Hold Securities	42
	SECTION 606.	Money Held in Trust	42
	SECTION 607.	Compensation and Reimbursement	42
	SECTION 608.	Conflicting Interests	43
	SECTION 609.	Corporate Trustee Required; Eligibility	43
	SECTION 610.	Resignation and Removal; Appointment of Successor	43
	SECTION 611.	Acceptance of Appointment by Successor	44
	SECTION 612.	Merger, Conversion, Consolidation or Succession to Business	45

ii 

			
			
	SECTION 613.	Preferential Collection of Claims Against Company and Subsidiary Guarantors	46
	SECTION 614.	Appointment of Authenticating Agent	46

ARTICLE SEVEN
                                           
HOLDERS' LISTS AND REPORTS BY TRUSTEE AND
COMPANY 

			
	SECTION 701.	Company to Furnish Trustee Names and Addresses of Holders	47
	SECTION 702.	Preservation of Information; Communications to Holders	48
	SECTION 703.	Reports by Trustee	48
	SECTION 704.	Reports by Company and Subsidiary Guarantors	48

ARTICLE EIGHT
                                         
CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR
LEASE 

			
	SECTION 801.	Company May Consolidate, Etc., Only on Certain Terms	49
	SECTION 802.	Subsidiary Guarantors May Consolidate, Etc., Only on Certain Terms	50
	SECTION 803.	Successor Substituted	50

ARTICLE NINE
                                                        
SUPPLEMENTAL INDENTURES 

			
	SECTION 901.	Supplemental Indentures Without Consent of Holders	51
	SECTION 902.	Supplemental Indentures With Consent of Holders	52
	SECTION 903.	Execution of Supplemental Indentures	53
	SECTION 904.	Effect of Supplemental Indentures	53
	SECTION 905.	Conformity with Trust Indenture Act	53
	SECTION 906.	Reference in Securities to Supplemental Indentures	53

ARTICLE TEN
                                                               
COVENANTS 

			
	SECTION 1001.	Payment of Principal, Premium and Interest	54
	SECTION 1002.	Maintenance of Office or Agency	54
	SECTION 1003.	Money for Securities Payments to Be Held in Trust	54
	SECTION 1004.	Statement by Officers as to Default	55
	SECTION 1005.	Existence	56
	SECTION 1006.	Maintenance of Properties	56
	SECTION 1007.	Payment of Taxes and Other Claims	56
	SECTION 1008.	Maintenance of Insurance	56
	SECTION 1009.	Waiver of Certain Covenants	57

ARTICLE ELEVEN
                                                       
REDEMPTION OF SECURITIES 

			
	SECTION 1101.	Applicability of Article	57
	SECTION 1102.	Election to Redeem; Notice to Trustee	57

iii 

			
			
	SECTION 1103.	Selection by Trustee of Securities to Be Redeemed	57
	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	60

ARTICLE TWELVE
                                                        
[INTENTIONALLY OMITTED] 

ARTICLE THIRTEEN
                                                         
SUBSIDIARY GUARANTEES 

			
	SECTION 1301.	Applicability of Article	60
	SECTION 1302.	Subsidiary Guarantees	60
	SECTION 1303.	Execution and Delivery of Subsidiary Guarantees	62
	SECTION 1304.	Release of Subsidiary Guarantors	62
	SECTION 1305.	Additional Subsidiary Guarantors	63
	SECTION 1306.	Limitation on Liability	63

ARTICLE FOURTEEN
                                                        
[INTENTIONALLY OMITTED] 

ARTICLE FIFTEEN
                                                  
DEFEASANCE AND COVENANT DEFEASANCE 

			
	SECTION 1501.	Company's Option to Effect Defeasance or Covenant Defeasance	64
	SECTION 1502.	Defeasance and Discharge	64
	SECTION 1503.	Covenant Defeasance	64
	SECTION 1504.	Conditions to Defeasance or Covenant Defeasance	65
	SECTION 1505.	Deposited Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous Provisions.	67
	SECTION 1506.	Reinstatement	67

ARTICLE SIXTEEN
                                                             
SINKING FUNDS  

			
	SECTION 1601.	Applicability of Article	68
	SECTION 1602.	Satisfaction of Sinking Fund Payments with Securities	68
	SECTION 1603.	Redemption of Securities for Sinking Fund	68

		
	SIGNATURES	83
	
SCHEDULE I	I-1

iv 

GEHL COMPANY 

CERTAIN SECTIONS OF THIS
INDENTURE RELATING TO SECTIONS 310 THROUGH 
318, INCLUSIVE, OF THE TRUST INDENTURE ACT OF
1939:  

	TRUST INDENTURE

ACT SECTION	INDENTURE 
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
	                    (b)	702
	                    (c)	702
	Section 313(a)	703
	                    (b)	703
	                    (c)	703
	                    (d)	703
	Section 314(a)	704
	                    (a)(4)	101, 1004
	                    (b)	Not Applicable
	                    (c)(1)	102
	                    (c)(2)	102
	                    (c)(3)	Not Applicable
	                    (d)	Not Applicable
	                    (e)	102
	Section 315(a)	601
	                    (b)	602
	                    (c)	601
	                    (d)	601
	                    (e)	514
	Section 316(a)	101
	                    (a)(1)(A)	502, 512
	                    (a)(1)(B)	513
	                    (a)(2)	Not Applicable
	                    (b)	508
	                    (c)	104
	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. 

v 

        INDENTURE,
dated as of __________, 200__, among Gehl Company, a corporation duly organized and
existing under the laws of the State of Wisconsin (herein called the “Company”),
having its principal office at 143 Water Street, West Bend, Wisconsin 53095, each of the
Subsidiary Guarantors (as hereinafter defined) and _____________________, a banking
corporation duly organized and existing under the laws of the State of __________, as
Trustee (herein called the “Trustee”). 

RECITALS OF THE
COMPANY AND THE SUBSIDIARY GUARANTORS 

        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. 

        The
Company and the Subsidiary Guarantors are members of the same consolidated group of
companies. The Subsidiary Guarantors will derive direct and indirect economic benefit from
the issuance of the Securities. Accordingly, each Subsidiary Guarantor has duly authorized
the execution and delivery of this Indenture to provide for its full, unconditional and
joint and several guarantee of the Securities to the extent provided in or pursuant 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 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 this instrument;  

	 	        (4)          unless
the context otherwise requires, any reference to an “Article”          or a
“Section” refers to an Article or a Section, as the case may be,           of
this Indenture; and  

	 	        (5)          the
words “herein”, “hereof”, “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. 

        “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; provided that direct or indirect beneficial ownership of 10%
or more of the Voting Stock of a Person shall be deemed to constitute control. 

        “Authenticating
Agent” means any Person authorized by the Trustee pursuant to Section 614 to act on
behalf of the Trustee to authenticate Securities of one or more series. 

        “Board
of Directors” means, with respect to the Company, either the board of directors of
the Company or any committee of that board duly authorized to act for it in respect
hereof, and with respect to any Subsidiary Guarantor, either the board of directors of
such Subsidiary Guarantor or any committee of that board duly authorized to act for it in
respect hereof. 

        “Board
Resolution” means, with respect to the Company or a Subsidiary Guarantor, a copy of a
resolution certified by the Corporate Secretary or an Assistant Corporate Secretary of the
Company or such Subsidiary Guarantor, as the case may be, to have been duly adopted by its
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 or executive order to close. 

        “Capital
Stock” of any Person means any and all shares, interests, participations or other
equivalents (however designated) of corporate stock or other equity participations,
including partnership interests, whether general or limited, of such Person. 

        “Commission”
means the Securities and Exchange Commission, from time to time constituted, created under
the Exchange Act, 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. 

2 

        “Common
Stock” means the common stock, $.10 par value, of the Company as the same exists at
the date of execution and delivery of this Indenture or other Capital Stock of the Company
into which such common stock is converted, reclassified or changed from time to time. 

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

        “Company
Request” or “Company Order” means a written request or order signed in the
name of the Company by its Chairman of the Board of Directors, its Chief Executive
Officer, its President, its Chief Financial Officer or a Vice President, and by its
Treasurer, an Assistant Treasurer, its Corporate Secretary or an Assistant Corporate
Secretary, and delivered to the Trustee. 

        “Conversion
Agent” means any Person authorized by the Company to convert any Securities on behalf
of the Company. 

        “Corporate
Trust Office” means the principal office of the Trustee at which at any particular
time its corporate trust business shall be administered, such office being located on the
date hereof at ____________________________________________________________. 

        “corporation”
means a corporation, association, limited liability company, joint-stock company or
business trust. 

        “Covenant
Defeasance” has the meaning specified in Section 1503. 

        “Defaulted
Interest” has the meaning specified in Section 307. 

        “Defeasance”
has the meaning specified in Section 1502. 

        “Depositary” means,
with respect to Securities of any series issuable in whole or in part in the form of one
or more Global Securities, a clearing agency registered under the Exchange Act that is
designated to act as Depositary for such Securities as contemplated by Section 301. 

        “Domestic
Subsidiary” means any Subsidiary of the Company other than a Foreign Subsidiary. 

        “Event
of Default” has the meaning specified in Section 501. 

        “Exchange
Act” means the Securities Exchange Act of 1934 and any statute successor thereto, in
each case as amended from time to time. 

        “Expiration
Date” has the meaning specified in Section 104. 

        “Foreign
Subsidiary” means any Subsidiary of the Company that was not formed under the laws of
the United States or any state of the United States or the District of Columbia and that
conducts substantially all of its operations outside the United States. 

3 

        “Global
Security” means a Security that evidences all or part of the Securities of any series
and bears the legend set forth in Section 205 (or such legend as may be specified as
contemplated by Section 301 for such Securities). 

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

        “Indenture”
means this instrument as originally executed and 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, including, for all purposes of this
instrument and any such supplemental indenture, the provisions of the Trust Indenture Act
that are deemed to be a part of and govern this instrument and any such supplemental
indenture, respectively. The term “Indenture” shall also include the terms of
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. 

        “Investment
Company Act” means the Investment Company Act of 1940 and any statute successor
thereto, in each case as amended from time to time. 

        “Material
Domestic Subsidiary” means any one Domestic Subsidiary, or any group of two or more
Domestic Subsidiaries, that is not a Subsidiary Guarantor at the time of determination and
that at such time has either assets or quarterly revenues in excess of 3.0% of the
consolidated assets or quarterly revenues of the Company and its Subsidiaries, in each
case based upon the most recent quarterly financial statements available to the Company. 

        “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. 

        “Notice
of Default” means a written notice of the kind specified in Section 501(5). 

        “Officers’
Certificate” means a certificate signed by the Chairman of the Board of Directors,
the Chief Executive Officer, the President, the Chief Financial Officer or a Vice
President, and by the Treasurer, an Assistant Treasurer, the Corporate Secretary or an
Assistant Corporate Secretary, of the Company or a Subsidiary Guarantor, as the case may
be, and delivered to the Trustee. One of the officers signing an Officers’
Certificate given pursuant to Section 1004 shall be the principal executive, financial or
accounting officer of the Company. 

        “Opinion
of Counsel” means, as to the Company or a Subsidiary Guarantor, a written opinion of
counsel, who may be counsel for the Company or such Subsidiary Guarantor, as the case may
be, and who shall be reasonably acceptable to the Trustee. 

4 

        “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: 

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

	 	        (2)          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;  

	 	        (3)          Securities
as to which Defeasance has been effected pursuant to Section 1502;           and  

	 	        (4)          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, made or taken any request, demand, authorization, direction,
notice, consent, waiver or other action hereunder as of any date, (A) the principal amount
of an Original Issue Discount Security which shall be deemed to be Outstanding shall be
the amount of the principal thereof which would be due and payable as of such date upon
acceleration of the Maturity thereof to such date pursuant to Section 502, (B) if, as of
such date, the principal amount payable at the Stated Maturity of a Security is not
determinable, the principal amount of such Security which shall be deemed to be
Outstanding shall be the amount as specified or determined as contemplated by Section 301,
(C) the principal amount of a Security denominated in one or more foreign currencies or
currency units which shall be deemed to be Outstanding shall be the U.S. dollar
equivalent, determined as of such date in the manner provided as contemplated by Section
301, of the principal amount of such Security (or, in the case of a Security described in
clause (A) or (B) above, of the amount determined as provided in such clause), and (D)
Securities owned by the Company, any Subsidiary Guarantor or any other obligor upon the
Securities or any Affiliate of the Company, any Subsidiary Guarantor 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, waiver or other action, 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, a Subsidiary Guarantor or any other
obligor upon the Securities or any Affiliate of the Company, a Subsidiary Guarantor or of
such other obligor. 

5 

        “Paying
Agent” means any Person authorized by the Company to pay the principal of or any
premium or interest on any Securities on behalf of the Company. 

        “Person”
means any individual, corporation, partnership, joint venture, 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 any premium 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. 

        “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. 

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

        “Securities
Act” means the Securities Act of 1933 and any statute successor thereto, in each case
as amended from time to time. 

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

        “Significant
Subsidiary” means, at any date of determination, any Subsidiary that represents 10%
or more of the Company’s consolidated total assets at the end of the most recent
fiscal quarter for which financial information is available or 10% or more of the
Company’s consolidated net revenues or consolidated operating income for the most
recent four quarters for which financial information is available. 

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

6 

        “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”
of any Person means (1) a corporation more than 50% of the combined voting power of the
outstanding Voting Stock of which is owned, directly or indirectly, by such Person or by
one or more other Subsidiaries of such Person or by such Person and one or more
Subsidiaries thereof or (2) any other Person (other than a corporation) in which such
Person, or one or more other Subsidiaries of such Person or such Person and one or more
other Subsidiaries thereof, directly or indirectly, has at least a majority ownership and
power to direct the policies, management and affairs thereof. 

        “Subsidiary
Guarantees” means the guarantees of each Subsidiary Guarantor as provided in Article
Thirteen. 

        “Subsidiary
Guarantors” means (i) the subsidiaries listed in Schedule I hereto; (ii) any
successor of the foregoing; and (iii) each other Subsidiary of the Company that becomes a
Subsidiary Guarantor in accordance with Section 1305 hereof, in each case until such
Subsidiary Guarantor ceases to be such in accordance with Section 1304 hereof. 

        “Successor
Company” has the meaning specified in Section 801. 

        “Successor Subsidiary
Guarantor” has the meaning specified in Section 802. 

        “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. 

        “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. 

        “U.S.        Government
Obligation” has the meaning specified in Section 1504.  

        “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” of any Person means Capital Stock of such Person which ordinarily has voting
power for the election of directors (or persons performing similar functions) of such
Person, whether at all times or only so long as no senior class of securities has such
voting power by reason of any contingency. 

7 

        “Wholly
Owned Subsidiary” of any Person means a Subsidiary of such Person all of the
outstanding Capital Stock or other ownership interests of which (other than
directors’ qualifying shares) shall at the time be owned by such Person or by one or
more Wholly Owned Subsidiaries of such Person or by such Person and one or more Wholly
Owned Subsidiaries of such Person. 

SECTION 102.     Compliance
Certificates and Opinions. 

        Upon
any application or request by the Company or any Subsidiary Guarantor to the Trustee to
take any action under any provision of this Indenture, the Company and/or such Subsidiary
Guarantor, as appropriate, shall furnish to the Trustee such certificates and opinions as
may be required under the Trust Indenture Act. Each such certificate or opinion shall be
given in the form of an Officers’ Certificate, if to be given by an officer of the
Company or a Subsidiary Guarantor, or an Opinion of Counsel, if to be given by counsel,
and shall comply with the requirements of the Trust Indenture Act and any other
requirements set forth in this Indenture. 

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

8 

        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; Record Dates. 

        Whenever
in this Indenture it is provided that the Holders of a specified percentage in aggregate
principal amount of the Securities of any or all series may take action (including the
making of any demand or request, the giving of any direction, notice, consent or waiver or
the taking of any other action) the fact that at the time of taking any such action the
Holders of such specified percentage have joined therein may be evidenced (a) by any
instrument or any number of instruments of similar tenor executed by Holders in person or
by agent or proxy appointed in writing, (b) by the record of the Holders voting in favor
thereof at any meeting of Holders duly called and held in accordance with procedures
approved by the Trustee, (c) by a combination of such instrument or instruments and any
such record of such a meeting of Holders or (d) in the case of Securities evidenced by a
Global Security, by any electronic transmission or other message, whether or not in
written format, that complies with the Depositary’s applicable procedures. Such
evidence (and the action embodied therein and evidenced thereby) are herein sometimes
referred to as the “Act” of the relevant Holders. Proof of execution of any such
instrument or of a writing appointing any such agent or proxy 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. 

        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
that the Trustee deems sufficient. 

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

        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. 

9 

        The
Company may set any day as a record date for the purpose of determining the Holders of
Outstanding Securities of any series entitled to give, make or take any request, demand,
authorization, direction, notice, consent, waiver or other action provided or permitted by
this Indenture to be given, made or taken by Holders of Securities of such series,
provided that the Company may not set a record date for, and the provisions of this
paragraph shall not apply with respect to, the giving or making of any notice,
declaration, request or direction referred to in the next paragraph. If any record date is
set pursuant to this paragraph, the Holders of Outstanding Securities of the relevant
series on such record date, and no other Holders, shall be entitled to take the relevant
action, whether or not such Holders remain Holders after such record date; provided that
no such action shall be effective hereunder unless taken on or prior to the applicable
Expiration Date by Holders of the requisite principal amount of Outstanding Securities of
such series on such record date. Nothing in this paragraph shall be construed to prevent
the Company from setting a new record date for any action for which a record date has
previously been set pursuant to this paragraph (whereupon the record date previously set
shall automatically and with no action by any Person be cancelled and of no effect), and
nothing in this paragraph shall be construed to render ineffective any action taken by
Holders of the requisite principal amount of Outstanding Securities of the relevant series
on the date such action is taken. Promptly after any record date is set pursuant to this
paragraph, the Company, at its own expense, shall cause notice of such record date, the
proposed action by Holders and the applicable Expiration Date to be given to the Trustee
in writing and to each Holder of Securities of the relevant series in the manner set forth
in Section 106. 

        The
Trustee may set any day as a record date for the purpose of determining the Holders of
Outstanding Securities of any series entitled to join in the giving or making of (i) any
Notice of Default, (ii) any declaration of acceleration referred to in Section 502, (iii)
any request to institute proceedings referred to in Section 507(2) or (iv) any direction
referred to in Section 512, in each case with respect to Securities of such series. If any
record date is set pursuant to this paragraph, the Holders of Outstanding Securities of
such series on such record date, and no other Holders, shall be entitled to join in such
notice, declaration, request or direction, whether or not such Holders remain Holders
after such record date; provided that no such action shall be effective hereunder unless
taken on or prior to the applicable Expiration Date by Holders of the requisite principal
amount of Outstanding Securities of such series on such record date. Nothing in this
paragraph shall be construed to prevent the Trustee from setting a new record date for any
action for which a record date has previously been set pursuant to this paragraph
(whereupon the record date previously set shall automatically and with no action by any
Person be cancelled and of no effect), and nothing in this paragraph shall be construed to
render ineffective any action taken by Holders of the requisite principal amount of
Outstanding Securities of the relevant series on the date such action is taken. Promptly
after any record date is set pursuant to this paragraph, the Trustee, at the
Company’s expense, shall cause notice of such record date, the proposed action by
Holders and the applicable Expiration Date to be given to the Company in writing and to
each Holder of Securities of the relevant series in the manner set forth in Section 106. 

        With
respect to any record date set pursuant to this Section, the party hereto which sets such
record dates may designate any day as the “Expiration Date” and from time to
time may change the Expiration Date to any earlier or later day; provided that no such
change shall be effective unless notice of the proposed new Expiration Date is given to
the other party hereto in writing, and to each Holder of Securities of the relevant series
in the manner set forth in Section 106, on or prior to the existing Expiration Date. If an
Expiration Date is not designated with respect to any record date set pursuant to this
Section, the party hereto which set such record date shall be deemed to have initially
designated the 180th day after such record date as the Expiration Date with respect
thereto, subject to its right to change the Expiration Date as provided in this paragraph.
Notwithstanding the foregoing, no Expiration Date shall be later than the 180th day after
the applicable record date. 

10 

        Without
limiting the foregoing, a Holder entitled hereunder to take any action hereunder with
regard to any particular Security may do so with regard to all or any part of the
principal amount of such Security or by one or more duly appointed agents each of which
may do so pursuant to such appointment with regard to all or any part of such principal
amount. 

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 or any Subsidiary Guarantor shall be
          sufficient for every purpose hereunder if made, given, furnished or filed in
          writing in the English language to or with the Trustee at its Corporate Trust
          Office, Attention: Corporate Trust Department; or  

	 	        (2)          the
Company or any Subsidiary Guarantor by the Trustee or by any Holder shall be
          sufficient for every purpose hereunder (unless otherwise herein expressly
          provided) if in writing in the English language and mailed, first-class postage
          prepaid, in the case of the Company addressed to it at the address of its
          principal office specified in the first paragraph of this instrument,
Attention:           Chief Financial Officer, or at any other address previously
furnished in writing           to the Trustee by the Company and, in the case of any
Subsidiary Guarantor, to           it at the address of the Company’s principal
office specified in the first           paragraph of this instrument, Attention: Chief
Financial Officer, or at any           other address previously furnished in writing to
the Trustee by such Subsidiary           Guarantor.  

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 (if any), and not earlier
than the earliest date (if any), 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. 

11 

        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 a provision of the Trust
Indenture Act which is required under such Act to be a 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 which 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 and any Subsidiary Guarantor
shall bind its successors and assigns, whether so expressed or not. 

SECTION 110.     
Separability Clause. 

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

SECTION 111.     Benefits of
Indenture. 

        Nothing
in this Indenture, the Securities or the Subsidiary Guarantees, express or implied, shall
give to any Person, other than the parties hereto 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, the Securities and the Subsidiary Guarantees shall be governed by and construed
in accordance with the law of the State of New York. 

SECTION 113.     Legal
Holidays. 

        In
any case where any Interest Payment Date, Redemption Date, purchase 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 (other than a
provision of any Security which specifically states that such provision shall apply in
lieu of this Section)) 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, Redemption Date or purchase date, or at the Stated Maturity. 

12 

ARTICLE TWO 
SECURITY
FORMS  

SECTION 201.     Forms
Generally. 

        The
Securities of each series and, if applicable, the Subsidiary Guarantees to be endorsed
thereon 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 Depositary therefor or as may, consistently herewith, be determined by the
officers executing such Securities or Subsidiary Guarantees, as the case may be, as
evidenced by their execution thereof. 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 Corporate Secretary or an Assistant
Corporate 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
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. 

[Insert any legend required by the
Internal Revenue Code and the regulations thereunder.] 

Gehl Company 

______________________________________ 

		
	No.__________	$________ 

        Gehl
Company, a corporation duly organized and existing under the laws of Wisconsin (herein
called the “Company,” which term includes any successor Person 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, until the principal hereof is paid or made available for payment,
provided that any principal and premium, and any such installment of interest, which is
overdue shall bear interest at the rate of ____% per annum (to the extent that the payment
of such interest shall be legally enforceable), from the dates such amounts are due until
they are paid or made available for payment, and such interest shall be payable on demand.
The interest so payable, and promptly 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 promptly 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]. 

13 

        [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 and any overdue premium shall bear interest at the rate of ____% per
annum (to the extent that the payment of such interest shall be legally enforceable), from
the dates such amounts are due until they are paid or made available for payment. Interest
on any overdue principal or premium shall be payable on demand. Any such interest on
overdue principal or premium which is not paid on demand shall bear interest at the rate
of ______% per annum (to the extent that the payment of such interest on interest shall be
legally enforceable), from the date of such demand until the amount so demanded is paid or
made available for payment.  Interest on any overdue interest
shall 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 ____________, 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 debts;
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. 

14 

		
	Dated:	Gehl Company
	
Attest:______________________________________	By:______________________________________

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 _________, 200__ (herein called the “Indenture”, which term shall
have the meaning assigned to it in such instrument), among the Company, the Subsidiary
Guarantors named therein and _________________, as Trustee (herein called the
“Trustee”, which term includes any successor trustee under the Indenture), and
reference is hereby made to the Indenture for a statement of the respective rights,
limitations of rights, duties and immunities thereunder of the Company, the Subsidiary
Guarantors, 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 [if applicable, insert — , 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 [if applicable, insert — on or after
__________, 20__], 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 [if
applicable, insert — on or before _______________, ___%, and if redeemed] during the
12-month period beginning _____________ of the years indicated, 

				
		Redemption		Redemption
	Year	Price	Year	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.] 

15 

        [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 [if applicable, insert — 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, 

			
		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 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 — Notwithstanding the foregoing, the Company may not, prior to
_____________, redeem any Securities of this series as contemplated by [if applicable,
insert — 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.] 

        [If
applicable, insert — The sinking fund for this series provides for the redemption on
____________ in each year beginning with the year _______ and ending with the year ______
of [if applicable, insert — 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 [if applicable, insert — mandatory] sinking fund payments may be credited
against subsequent [if applicable, insert — mandatory] sinking fund payments
otherwise required to be made [if applicable, insert — , in the inverse order in
which they become due].] 

        [If
the Security is subject to redemption of any kind, insert — In the event of
redemption of this Security in part only, a new Security or Securities of this series and
of like tenor for the unredeemed portion hereof will be issued in the name of the Holder
hereof upon the cancellation hereof.] 

        [If
the Security is subject to conversion, insert — Subject to the provisions of the
Indenture, each Holder has the right to convert the principal amount of this Security into
fully paid and nonassessable shares of Common Stock of the Company at the initial
conversion price per share of Common Stock of $_____ (or $_____ in principal amount of
Securities for each such share of Common Stock), or at the adjusted conversion price then
in effect, if adjustment has been made as provided in the Indenture, upon surrender of the
Security to the Conversion Agent, together with a fully executed notice in substantially
the form attached hereto and, if required by the Indenture, an amount equal to accrued
interest payable on this Security.] 

16 

        [If
applicable, insert — As provided in the Indenture and subject to certain limitations
therein set forth, the obligations of the Company under this Security are guaranteed
pursuant to the Subsidiary Guarantees endorsed hereon. The Indenture provides that a
Subsidiary Guarantor shall be released from its Subsidiary Guarantee upon compliance with
certain conditions.] 

        [If
applicable, insert — The Indenture contains provisions for Defeasance at any time of
[the entire indebtedness of this Security] [or] [certain restrictive covenants and Events
of Default with respect to this Security] [, in each case] upon compliance with certain
conditions set forth in the Indenture.] 

        [If
the Security is not an Original Issue Discount Security, insert — 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, insert — 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, premium and
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 premium 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 a majority 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 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. 

17 

        As
provided in and subject to the provisions of the Indenture, the Holder of this Security
shall not have the right to institute any proceeding with respect to the Indenture or for
the appointment of a receiver or trustee or for any other remedy thereunder, unless such
Holder shall have previously given the Trustee written notice of a continuing Event of
Default with respect to the Securities of this series, the Holders of not less than 25% in
principal amount of the Securities of this series at the time Outstanding shall have made
written request to the Trustee to institute proceedings in respect of such Event of
Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not
have received from the Holders of a majority in principal amount of Securities of this
series at the time Outstanding a direction inconsistent with such request, and shall have
failed to institute any such proceeding, for 60 days after receipt of such notice, request
and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder
of this Security for the enforcement of any payment of principal hereof or any premium or
interest hereon on or after the respective due dates expressed herein. 

        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 any premium 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 any premium 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 and of
like tenor, 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 and of
like tenor 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
Subsidiary Guarantee. 

SUBSIDIARY GUARANTEE 

18 

        For
value received, each of the Subsidiary Guarantors named (or deemed herein to be named)
below hereby jointly and severally fully and unconditionally guarantees to the Holder of
the Security upon which this Subsidiary Guarantee is endorsed, and to the Trustee on
behalf of such Holder, the due and prompt payment of the principal of (and premium, if
any) and interest on such Security when and as the same shall become due and payable,
whether at the Stated Maturity, by acceleration, call for redemption, offer to purchase or
otherwise, according to the terms thereof and of the Indenture referred to therein and to
cover all the rights of the Trustee under Section 607. In case of the failure of the
Company promptly to make any such payment, each of the Subsidiary Guarantors hereby
jointly and severally agrees to cause such payment to be made promptly when and as the
same shall become due and payable, whether at the Stated Maturity or by acceleration, call
for redemption, offer to purchase or otherwise, and as if such payment were made by the
Company. 

        Each
of the Subsidiary Guarantors hereby jointly and severally agrees that its obligations
hereunder shall be absolute and unconditional, irrespective of, and shall be unaffected
by, the validity, regularity or enforceability of such Security or the Indenture, the
absence of any action to enforce the same or any release, amendment, waiver or indulgence
granted to the Company or any other guarantor, or any consent to departure from any
requirement of any other guarantee of all or of any of the Securities of this series, or
any other circumstances which might otherwise constitute a legal or equitable discharge or
defense of a surety or guarantor; provided, however, that, notwithstanding the foregoing,
no such release, amendment, waiver or indulgence shall, without the consent of such
Subsidiary Guarantor, increase the principal amount of such Security, or increase the
interest rate thereon, or alter the Stated Maturity thereof. Each of the Subsidiary
Guarantors hereby waives the benefits of diligence, presentment, demand of payment, any
requirement that the Trustee or any of the Holders protect, secure, perfect or insure any
security interest in or other lien on any property subject thereto or exhaust any right or
take any action against the Company or any other Person or any collateral, filing of
claims with a court in the event of insolvency or bankruptcy of the Company, any right to
require a proceeding first against the Company, protest or notice with respect to such
Security or the indebtedness evidenced thereby and all demands whatsoever, and covenants
that this Subsidiary Guarantee will not be discharged except by complete performance of
the obligations contained in such Security and in this Subsidiary Guarantee. Each
Subsidiary Guarantor agrees that if, after the occurrence and during the continuance of an
Event of Default with respect to Securities of this series, the Trustee or any of the
Holders are prevented by applicable law from exercising their respective rights to
accelerate the maturity of the Securities of this series, to collect interest on the
Securities of this series, or to enforce or exercise any other right or remedy with
respect to the Securities of this series, such Subsidiary Guarantor agrees to pay to the
Trustee for the account of the Holders, upon demand therefor, the amount that would
otherwise have been due and payable had such rights and remedies been permitted to be
exercised by the Trustee or any of the Holders. 

        No
reference herein to the Indenture and no provision of this Subsidiary Guarantee or of the
Indenture shall alter or impair the Subsidiary Guarantee of any Subsidiary Guarantor,
which is absolute and unconditional, of the due and prompt payment of the principal (and
premium, if any) and interest on the Security upon which this Subsidiary Guarantee is
endorsed. 

19 

        Each
Subsidiary Guarantor shall be subrogated to all rights of the Holder of this Security
against the Company in respect of any amounts paid by such Subsidiary Guarantor on account
of this Security pursuant to the provisions of its Subsidiary Guarantee or the Indenture;
provided, however, that such Subsidiary Guarantor shall not be entitled to enforce or to
receive any payments arising out of, or based upon, such right of subrogation until the
principal of (and premium, if any) and interest on this Security and all other Securities
of this series issued under the Indenture shall have been paid in full. 

        This
Subsidiary Guarantee shall remain in full force and effect and continue to be effective
should any petition be filed by or against the Company for liquidation or reorganization,
should the Company become insolvent or make an assignment for the benefit of creditors or
should a receiver or trustee be appointed for all or any part of the Company’s
assets, and shall, to the fullest extent permitted by law, continue to be effective or be
reinstated, as the case may be, if at any time payment and performance of the Securities
of this series is, pursuant to applicable law, rescinded or reduced in amount, or must
otherwise be restored or returned by any Holder of the Securities of this series, whether
as a “voidable preference,” “fraudulent transfer,” or otherwise, all
as though such payment or performance had not been made. In the event that any payment, or
any part thereof, is rescinded, reduced, restored or returned, the Securities of this
series shall, to the fullest extent permitted by law, be reinstated and deemed reduced
only by such amount paid and not so rescinded, reduced, restored or returned. 

        The
Subsidiary Guarantors or any particular Subsidiary Guarantor shall be released from this
Subsidiary Guarantee upon the terms and subject to certain conditions provided in the
Indenture. 

        By
delivery to the Trustee of a supplement to the Indenture referred to in the Security upon
which this Subsidiary Guarantee is endorsed in accordance with the terms of the Indenture,
each Person that becomes a Subsidiary Guarantor after the date of first issuance of the
Securities of this series will be deemed to have executed and delivered this Subsidiary
Guarantee for the benefit of the Holder of the Security upon which this Subsidiary
Guarantee is endorsed with the same effect as if such Subsidiary Guarantor was named below
and has executed and delivered this Subsidiary Guarantee. 

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

        This
Subsidiary Guarantee shall not be valid or obligatory for any purpose until the
certificate of authentication on the Security upon which this Subsidiary Guarantee is
endorsed shall have been executed by the Trustee under the Indenture by manual signature. 

        Reference
is made to the Indenture for further provisions with respect to this Subsidiary Guarantee. 

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

20 

        IN
WITNESS WHEREOF, each of the Subsidiary Guarantors has caused this Subsidiary Guarantee to
be duly executed. 

		
		[Insert Names of Subsidiary Guarantors]
	

Attest:	By:__________________________________________
		Title:
	__________________________________________	

SECTION 205.     Form
of Legend for Global Securities. 

        Unless
otherwise specified as contemplated by Section 301 for the Securities evidenced thereby,
every Global Security authenticated and delivered hereunder shall bear a legend in
substantially the following form: 

	 	
THIS
SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO
AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT
BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS
SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH
DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE
INDENTURE.  

SECTION 206.     Form
of Trustee's Certificate of Authentication. 

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

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

		
		___________________, As Trustee
	
 	By:___________________________________
		        Authorized Officer

SECTION 207.     Form of
Conversion Notice. 

        Each
convertible Security shall have attached thereto, or set forth on the reverse of the
Security, a notice of conversion in substantially the following form: 

Conversion Notice 

To: Gehl Company 

21 

        The
undersigned owner of this Security hereby: (i) irrevocably exercises the option to convert
this Security, or the portion hereof below designated, for [shares of Common Stock]
[insert other securities] of Gehl Company in accordance with the terms of the Indenture
referred to in this Security and (ii) directs that such [shares of Common Stock] [insert
other securities] deliverable upon the conversion, together with any check in payment for
fractional shares and any Security(ies) representing any unconverted principal amount
hereof, be issued and delivered to the registered holder hereof unless a different name
has been indicated below. If shares are to be delivered registered in the name of a person
other than the undersigned, the undersigned will pay all transfer taxes payable with
respect thereto. Any amount required to be paid by the undersigned on account of interest
accompanies this Security. 

		
	Dated:______________________________________	______________________________________
		Signature

        Fill
in for registration of shares if to be delivered, and of Securities if to be issued,
otherwise than to and in the name of the registered holder. 

		
	______________________________________	______________________________________
	(Name)	Social Security or other
		Taxpayer Identification Number

______________________________________
(Please print name and address) 

        Principal
amount to be converted:  (if less than all) $___________ 

Signature Guarantee*
______________________________________ 

*Participant in a recognized
Signature Guarantee Medallion Program (or other signature acceptable to the Trustee). 

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, subject to Section 303, set forth, or determined in the manner
provided, in an Officers’ Certificate, or established in one or more indentures
supplemental hereto, prior to the issuance of Securities of any series, 

22 

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

	 	        (2)          if
the Securities of the series will not have the benefit of the Subsidiary
          Guarantees of the Subsidiary Guarantors;  

	 	        (3)          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 and except for any Securities which, pursuant to           Section
303, are deemed never to have been authenticated and delivered           hereunder);  

	 	        (4)          the
Person to whom any interest on a Security of the series shall be payable, if
          other than 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;  

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

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

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

	 	        (8)          the
period or periods within which, the price or prices at which and the terms           and
conditions upon which any Securities of the series may be redeemed, in whole           or
in part, at the option of the Company and, if other than by a Board           Resolution,
the manner in which any election by the Company to redeem the           Securities shall
be evidenced;  

	 	        (9)
         the obligation, if any, of the Company to redeem or purchase any Securities of
          the series pursuant to any sinking fund or analogous provisions or at the
option           of the Holder thereof and the period or periods within which, the price
or           prices at which and the terms and conditions upon which any Securities of
the           series shall be redeemed or purchased, in whole or in part, pursuant to
such           obligation;  

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

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

23 

	 	        (12)          if
other than the currency of the United States of America, the currency,
          currencies or currency units in which the principal of or any premium or
          interest on any Securities of the series shall be payable and the manner of
          determining the equivalent thereof in the currency of the United States of
          America for any purpose, including for purposes of the definition of
          “Outstanding” in Section 101;  

	 	        (13)          if
the principal of or any premium or interest on any Securities of the series           is
to be payable, at the election of the Company or the Holder thereof, in one           or
more currencies or currency units other than that or those in which such
          Securities are stated to be payable, the currency, currencies or currency units
          in which the principal of or any premium or interest on such Securities as to
          which such election is made shall be payable, the periods within which and the
          terms and conditions upon which such election is to be made and the amount so
          payable (or the manner in which such amount shall be determined);  

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

	 	        (15)          if
the principal amount payable at the Stated Maturity of any Securities of the
          series will not be determinable as of any one or more dates prior to the Stated
          Maturity, the amount which shall be deemed to be the principal amount of such
          Securities as of any such date for any purpose thereunder or hereunder,
          including the principal amount thereof which shall be due and payable upon any
          Maturity other than the Stated Maturity or which shall be deemed to be
          Outstanding as of any date prior to the Stated Maturity (or, in any such case,
          the manner in which such amount deemed to be the principal amount shall be
          determined);  

	 	        (16)          if
applicable, that the Securities of the series, in whole or any specified           part,
shall be defeasible pursuant to Section 1502 or Section 1503 or both such
          Sections and, if other than by a Board Resolution, the manner in which any
          election by the Company to defease such Securities shall be evidenced;  

	 	        (17)          if
applicable, that any Securities of the series shall be issuable in whole or           in
part in the form of one or more Global Securities and, in such case, the
          respective Depositaries for such Global Securities, the form of any legend or
          legends which shall be borne by any such Global Security in addition to or in
          lieu of that set forth in Section 205 and any circumstances in addition to or
in           lieu of those set forth in clause (2) of the last paragraph of Section 305
in           which any such Global Security may be exchanged in whole or in part for
          Securities registered, and any transfer of such Global Security in whole or in
          part may be registered, in the name or names of Persons other than the
          Depositary for such Global Security or a nominee thereof;  

	 	        (18)          any
addition to or change in the Events of Default which applies to any           Securities
of the series and any change in the right of the Trustee or the           requisite
Holders of such Securities to declare the principal amount thereof due           and
payable pursuant to Section 502;  

24 

	 	        (19)          any
addition to or change in the covenants set forth in Article Ten which           applies
to Securities of the series;  

	 	        (20)          whether
the Securities of the series will be convertible into Common Stock or           other
securities of the Company (or cash in lieu thereof) and, if so, the terms           and
conditions upon which such conversion will be effected; and  

	 	        (21)          any
other terms of the series (which terms shall not be inconsistent with the
          provisions of this Indenture, except as permitted by Section 901(5)).  

        All
Securities of any one series shall be substantially identical except as to denomination
and except as may otherwise be provided in or pursuant to the Board Resolution referred to
above and (subject to Section 303) set forth, or determined in the manner provided, in the
Officers’ Certificate referred to above or in any such indenture supplemental hereto. 

        If
any of the terms of the series are established by action taken pursuant to a Board
Resolution, a copy of an appropriate record of such action shall be certified by the
Corporate Secretary or an Assistant Corporate 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 of each series shall have the benefit of the Subsidiary Guarantees unless the
Company elects otherwise upon the establishment of a series pursuant to this Section 301. 

SECTION 302.     
Denominations. 

        The
Securities of each series shall be issuable only in registered form without coupons and
only in such denominations as shall be specified as contemplated by Section 301. In the
absence of any such specified denomination 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 of
Directors, its Chief Executive Officer, its President, its Chief Financial Officer or one
of its Vice Presidents. The Securities shall be attested by the Company’s Corporate
Secretary, one of its Assistant Corporate Secretaries, its Treasurer or one of its
Assistant Treasurers. 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 and, if applicable,
having endorsed thereon the Subsidiary Guarantees executed as provided in Section 1303 by
the Subsidiary Guarantors 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 by 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, 

25 

	 	        (1)          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;  

	 	        (2)          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  

	 	        (3)          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, and, if applicable, the Subsidiary Guarantees endorsed thereon
will           constitute valid and legally binding obligations of the Subsidiary
Guarantors,           enforceable in accordance with their terms, subject to bankruptcy,
insolvency,           fraudulent transfer, reorganization, moratorium and similar laws of
general           applicability relating to or affecting 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. 

        Notwithstanding
the provisions of Section 301 and of the preceding paragraph, if all Securities of a
series are not to be originally issued at one time, it shall not be necessary to deliver
the Officers’ Certificate otherwise required pursuant to Section 301 or the Company
Order and Opinion of Counsel otherwise required pursuant to such preceding paragraph at or
prior to the authentication of each Security of such series if such documents are
delivered at or prior to the authentication upon original issuance of the first Security
of such series to be issued. 

        Each
Security shall be dated the date of its authentication. 

        No
Security or Subsidiary Guarantee endorsed thereon 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. Notwithstanding the foregoing, if any Security
shall have been authenticated and delivered hereunder but never issued and sold by the
Company, and the Company shall deliver such Security to the Trustee for cancellation as
provided in Section 309, for all purposes of this Indenture such Security shall be deemed
never to have been authenticated and delivered hereunder and shall never be entitled to
the benefits of this Indenture. 

26 

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 and, if applicable,
having endorsed thereon the Subsidiary Guarantees in lieu of which they are issued and
with such appropriate insertions, omissions, substitutions and other variations as the
officers executing such Securities and, if applicable, Subsidiary Guarantees may
determine, as evidenced by their execution of such Securities and Subsidiary Guarantees. 

        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 one or more definitive Securities of the
same series, of any authorized denominations and of like tenor and aggregate principal
amount and, if applicable, having endorsed thereon Subsidiary Guarantees executed by the
Subsidiary Guarantors. 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 and tenor. 

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 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 a series at the office or agency
of the Company in a Place of Payment for that series, the Company shall execute, if
applicable the Subsidiary Guarantors shall execute the Subsidiary Guarantees endorsed
thereon 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 like tenor and 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 like tenor and 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, if applicable the Subsidiary Guarantors shall execute the Subsidiary Guarantees
endorsed thereon, and the Trustee shall authenticate and deliver, the Securities which the
Holder making the exchange is entitled to receive. 

27 

        All
Securities and, if applicable, the Subsidiary Guarantees endorsed thereon issued upon any
registration of transfer or exchange of Securities shall be the valid obligations of the
Company and, if applicable, the respective Subsidiary Guarantors, evidencing the same
debt, and entitled to the same benefits under this Indenture, as the Securities and
Subsidiaries Guarantees 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 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, 1107 or
otherwise not involving any transfer. 

        If
the Securities of any series (or of any series and specified tenor) are to be redeemed in
part, the Company shall not be required (A) to issue, register the transfer of or exchange
any Securities of that series (or of that series and specified tenor, as the case may be)
during a period beginning at the opening of business 15 days before the day of the mailing
of a notice of redemption of any such Securities selected for redemption under Section
1103 and ending at the close of business on the day of such mailing, or (B) 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. 

        The
provisions of clauses (1), (2), (3) and (4) below shall apply only to Global Securities: 

	 	        (1)          Each
Global Security authenticated under this Indenture shall be registered in           the
name of the Depositary designated for such Global Security or a nominee           thereof
and delivered to such Depositary or a nominee thereof or custodian           therefor,
and each such Global Security shall constitute a single Security for           all
purposes of this Indenture.  

	 	        (2)          Notwithstanding
any other provision in this Indenture, no Global Security may be           exchanged in
whole or in part for Securities registered, and no transfer of a           Global
Security in whole or in part may be registered, in the name of any Person           other
than the Depositary for such Global Security or a nominee thereof unless           (A)
such Depositary (i) has notified the Company that it is unwilling or unable           to
continue as Depositary for such Global Security or (ii) has ceased to be a
          clearing agency registered under the Exchange Act, and in either case the
          Company fails to appoint a successor Depositary within 90 days, (B) there shall
          have occurred and be continuing an Event of Default with respect to such Global
          Security and the Depositary shall have notified the Trustee of its decision to
          exchange such Global Security for Securities in certificated form or (C) there
          shall exist such circumstances, if any, in addition to or in lieu of the
          foregoing as have been specified for this purpose as contemplated by Section
          301.  

28 

	 	        (3)          Subject
to clause (2) above, any exchange of a Global Security for other           Securities may
be made in whole or in part, and all Securities issued in           exchange for a Global
Security or any portion thereof shall be registered in           such names as the
Depositary for such Global Security shall direct.  

	 	        (4)          Every
Security authenticated and delivered upon registration of transfer of, or           in
exchange for or in lieu of, a Global Security or any portion thereof, whether
          pursuant to this Section, Section 304, 306, 906 or 1107 or otherwise, shall be
          authenticated and delivered in the form of, and shall be, a Global Security,
          unless such Security is registered in the name of a Person other than the
          Depositary for such Global Security or a nominee thereof.  

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

        If
any mutilated Security is surrendered to the Trustee, the Company shall execute, if
applicable the Subsidiary Guarantors shall execute the Subsidiary Guarantees endorsed
thereon, 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 from
any loss that any of them may suffer if a Security is replaced, 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, if applicable the Subsidiary Guarantors shall
execute the Subsidiary Guarantees endorsed thereon, and 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 or is to be converted, the Company in its discretion may, instead
of issuing a new Security, pay or authorize the conversion of such Security (without
surrender thereof save in the case of a mutilated 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, and, if applicable, the Subsidiary Guarantees endorsed thereon, shall
constitute an original additional contractual obligation of the Company and, if
applicable, the respective Subsidiary Guarantors, 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. 

29 

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

SECTION 307.     Payment
of Interest; Interest Rights Preserved.  

        Except
as otherwise provided as contemplated by Section 301 with respect to any series of
Securities, interest on any Security which is payable, and is promptly 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 promptly 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 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 10
days after           the receipt by the Trustee of the notice of the proposed payment.
The Trustee           shall promptly notify the Company of such Special Record Date and,
in the name           and at the expense of the Company, shall cause notice of the
proposed payment of           such Defaulted Interest and the Special Record Date
therefor to be given to each           Holder of Securities of such series in the manner
set forth in Section 106, 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).  

30 

	 	        (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 Subsidiary
Guarantors, the Trustee and any agent of the Company, the Subsidiary Guarantors, 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 any premium and
(subject to Section 307) any interest on such Security and for all other purposes
whatsoever, whether or not such Security be overdue, and neither the Company, any
Subsidiary Guarantor, the Trustee nor any agent of the Company, any Subsidiary Guarantor,
or the Trustee shall be affected by notice to the contrary. 

SECTION 309.     Cancellation. 

        All
Securities surrendered for payment, redemption, purchase, 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 may deliver to the Trustee (or to any other Person for delivery
to the Trustee) for cancellation any Securities previously authenticated hereunder which
the Company has not issued and sold, 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 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 360-day year
of twelve 30-day months. 

ARTICLE FOUR

SATISFACTION AND DISCHARGE  

SECTION 401.     
Satisfaction and Discharge of Indenture. 

31 

        This
Indenture shall upon Company Request cease to be of further effect with respect to the
Securities of any series, 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 of such series theretofore authenticated and delivered (other           than
(i) Securities of such series which have been destroyed, lost or stolen and
          which have been replaced or paid as provided in Section 306 and (ii) Securities
          of such series 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 of such series not theretofore delivered to the Trustee for
          cancellation  

	 	(i) 	have
become due and payable,  

	 	(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 or, if applicable, a Subsidiary Guarantor, in the case of (i), (ii) or (iii)
above, has irrevocably deposited or caused to be deposited with the Trustee as trust funds
in trust for the purpose money in an amount sufficient, without consideration of any
reinvestment of interest, to pay and discharge the entire indebtedness on such Securities
not theretofore delivered to the Trustee for cancellation, for principal and any premium
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 or a Subsidiary Guarantor has paid or caused to be paid all other           sums
payable hereunder by the Company and the Subsidiary Guarantors with respect           to
the Securities of such series; 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 with respect
to           the Securities of such series have been complied with.  

        Notwithstanding
the satisfaction and discharge of this Indenture, the obligations of the Company to the
Trustee under Section 607, any surviving rights of conversion, 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. 

32 

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 any premium
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;  

	 	        (2)          default
in the payment of the principal of or any premium 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 of the Company or, if the
          Subsidiary Guarantors have issued Subsidiary Guarantees with respect to the
          Securities of such series, any Subsidiary Guarantor in Article Eight of this
          Indenture;  

	 	        (5)          default
in the performance, or breach, of any covenant or warranty of the           Company or,
if the Subsidiary Guarantors have issued Subsidiary Guarantees with           respect to
the Securities of such series, any Subsidiary Guarantor 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 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 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;  

33 

	 	        (6)          debt
of the Company, any Significant Subsidiary or, if the Subsidiary Guarantors
          have issued Subsidiary Guarantees with respect to the Securities of such
series,           any Subsidiary Guarantor is not paid within any applicable grace period
after           final maturity or is accelerated by the holders thereof because of a
default and           the total amount of such Indebtedness unpaid or accelerated exceeds
$10.0           million, or its foreign currency equivalent at the time;  

	 	        (7)          any
judgment or decree for the payment of money in excess of $10.0 million or           its
foreign currency equivalent at the time it is entered against the Company,           any
Significant Subsidiary or, if the Subsidiary Guarantors have issued           Subsidiary
Guarantees with respect to the Securities of such series, any           Subsidiary
Guarantor, remains outstanding for a period of 60 consecutive days           following
the entry of such judgment or decree and is not discharged, waived or           the
execution thereof stayed;  

	 	        (8)          the
entry by a court having jurisdiction in the premises of (A) a decree or           order
for relief in respect of the Company, any Significant Subsidiary or, if           the
Subsidiary Guarantors have issued Subsidiary Guarantees with respect to the
          Securities of such series, any Subsidiary Guarantor 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, any Significant Subsidiary or any such Subsidiary Guarantor a bankrupt
          or insolvent, or approving as properly filed a petition seeking reorganization,
          arrangement, adjustment or composition of or in respect of the Company, any
          Significant Subsidiary or any such Subsidiary Guarantor under any applicable
          Federal or State law, or appointing a custodian, receiver, liquidator,
assignee,           trustee, sequestrator or other similar official of the Company, any
Significant           Subsidiary or any such Subsidiary Guarantor or of any substantial
part of its or           their property, or ordering the winding up or liquidation of its
or their           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;  

	 	        (9)          the
commencement by the Company, any Significant Subsidiary or, if the           Subsidiary
Guarantors have issued Subsidiary Guarantees with respect to the           Securities of
such series, any Subsidiary Guarantor 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 or them to the entry           of a decree or order for
relief in respect of the Company, any Significant           Subsidiary or any such
Subsidiary Guarantor 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 them, or the filing by it or them of a petition or           answer or consent
seeking reorganization or relief under any applicable Federal           or State law, or
the consent by it or them to the filing of such petition or to           the appointment
of or taking possession by a custodian, receiver, liquidator,           assignee,
trustee, sequestrator or other similar official of the Company, any           Significant
Subsidiary or any such Subsidiary Guarantor or of any substantial           part of its
or their property, or the making by it or them of an assignment for           the benefit
of creditors, or the admission by it or them in writing of its or           their
inability to pay its or their debts generally as they become due, or the           taking
of corporate action by the Company, any Significant Subsidiary or any           such
Subsidiary Guarantor in furtherance of any such action;  

34 

	 	        (10)          in
the event the Subsidiary Guarantors have issued Subsidiary Guarantees with
          respect to the Securities of such series, the Subsidiary Guarantee of any
          Subsidiary Guarantor is held by a final non-appealable order or judgment of a
          court of competent jurisdiction to be unenforceable or invalid or ceases for
any           reason to be in full force and effect (other than in accordance with the
terms           of this Indenture) or any Subsidiary Guarantor or any Person acting on
behalf of           any Subsidiary Guarantor denies or disaffirms such Subsidiary
Guarantor’s           obligations under its Subsidiary Guarantee (other than by
reason of a release of           such Subsidiary Guarantor from its Subsidiary Guarantee
in accordance with the           terms of this Indenture); or  

	 	        (11)          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 (other than an Event of Default with respect to the Company specified
in Section 501(8) or 501(9)) with respect to Securities of any series at the 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 that series may
declare the principal amount of all the Securities of that series (or, if any Securities
of that series are Original Issue Discount Securities, such portion of the principal
amount of such Securities as may be specified by the terms thereof) 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) shall
become immediately due and payable. If an Event of Default with respect to the Company
specified in Section 501(8) or 501(9) with respect to Securities of any series at the time
Outstanding occurs, the principal amount of all the Securities of that series (or, if any
Securities of that series are Original Issue Discount Securities, such portion of the
principal amount of such Securities as may be specified by the terms thereof) shall
automatically, and without any declaration or other action on the part of the Trustee or
any Holder, 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 or, if applicable, any Subsidiary Guarantor has paid or deposited           with
the Trustee a sum sufficient to pay  

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

35 

	 	(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 any           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
          non-payment of the principal of Securities of that 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 any premium and interest and, to
the extent that payment of such interest shall be legally enforceable, interest on any
overdue principal and premium 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
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. 

36 

        In
case of any judicial proceeding relative to the Company, any Subsidiary Guarantor or any
other obligor upon the Securities, or the property or creditors of the Company, any
Subsidiary Guarantor or any other obligor upon the Securities, the Trustee 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 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. 

        No
provision of this Indenture 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 any Subsidiary
Guarantee 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; provided, however, that the
Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or
similar official and be a member of a creditors’ or other similar committee. 

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

        All
rights of action and claims under this Indenture or the Securities or any Subsidiary
Guarantee 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 any premium 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; 

	 	        SECOND:To
the payment of the amounts then due and unpaid for principal of and any premium 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 any premium and interest,
respectively; and  

	 	        THIRD:
  The balance, if any, to the Company or to such other Person as a court of competent
jurisdiction shall direct. 

37 

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 security or           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
          security or 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 Holders, 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 any
premium and (subject to Section 307) interest on such Security on the respective Stated
Maturities expressed in such Security (or, in the case of redemption or offer by the
Company to purchase the Securities pursuant to the terms of this Indenture, on the
Redemption Date or purchase date, as applicable) and, if applicable, to convert such
Security in accordance with its terms, and to institute suit for the enforcement of any
such right, 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
Subsidiary Guarantors, 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. 

38 

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 Securities 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.  

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 any premium or interest on any Security of
          such series (including any Security which is required to have been purchased by
          the Company pursuant to an offer to purchase by the Company made pursuant to
the           terms of this Indenture), or  

39 

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

        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. 

        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, a court
may require any party litigant in such suit to file an undertaking to pay the costs of
such suit, and may assess costs against any such party litigant, in the manner and to the
extent provided in the Trust Indenture Act; provided, however, that neither this Section
nor the Trust Indenture Act shall be deemed to authorize any court to require such an
undertaking or to make such an assessment in any suit instituted by the Company or any
Subsidiary Guarantor. 

SECTION 515.     Waiver
of Usury, Stay or Extension Laws. 

        Each
of the Company and the Subsidiary Guarantors 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 usury, 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 each of the Company and the Subsidiary Guarantors (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. 

        The
duties and responsibilities of the Trustee shall be as expressly set forth in this
Indenture and as provided by the Trust Indenture Act. Notwithstanding the foregoing, 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. 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. 

40 

        If
a default occurs hereunder with respect to Securities of any series, the Trustee shall
give the Holders of Securities of such series notice of such default as and to the extent
provided by the Trust Indenture Act; provided, however, that in the case of any default of
the character specified in Section 501(5) 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: 

	 	        (1)          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, 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;  

	 	        (2)          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 shall be sufficiently evidenced by a Board Resolution;  

	 	        (3)          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;  

	 	        (4)          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;  

	 	        (5)          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;  

	 	        (6)          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  

41 

	 	        (7)          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 and the Subsidiary Guarantees, except the
Trustee’s certificates of authentication, shall be taken as the statements of the
Company or the Subsidiary Guarantors, as the case may be, and neither the Trustee nor any
Authenticating Agent assumes any responsibility for their correctness. The Trustee makes
no representations as to the validity or sufficiency of this Indenture or of the
Securities or the Subsidiary Guarantees endorsed thereon. 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 or any Subsidiary Guarantor, 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 and any Subsidiary Guarantor 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 or any
Subsidiary Guarantor, as the case may be. 

SECTION 607.     Compensation
and Reimbursement.  

        The
Company and each Subsidiary Guarantor jointly and severally agree 

	 	        (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, 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 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.  

42 

SECTION 608.     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. To the extent permitted by such Act, the Trustee shall not be deemed
to have a conflicting interest by virtue of being a trustee under this Indenture with
respect to Securities of more than one series. 

SECTION 609.     Corporate
Trustee Required; Eligibility. 

        There
shall at all times be one (and only one) Trustee hereunder with respect to the Securities
of each series, which may be Trustee hereunder for Securities of one or more other series.
Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act
as such, and has a combined capital and surplus of at least $50,000,000. If any such
Person publishes reports of condition at least annually, pursuant to law or to the
requirements of its supervising or examining authority, then for the purposes of this
Section and to the extent permitted by the Trust Indenture Act, the combined capital and
surplus of such Person 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 with
respect to the Securities of any series 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.  

        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. 

        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. 

        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. 

        If
at any time: 

43 

	 	        (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,  

	 	        (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, (A) the
Company by a Board Resolution may remove the Trustee with respect to all Securities, or
(B) 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. 

        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 others similarly situated, petition
any court of competent jurisdiction for the appointment of a successor Trustee with
respect to the Securities of such series. 

        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 to all Holders of Securities of such series in the manner
provided in Section 106. 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. 

44 

        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, the Subsidiary Guarantors 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. 

        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 Subsidiary Guarantors, 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 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. 

        Upon
request of any such successor Trustee, the Company and the Subsidiary Guarantors 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 the first or
second preceding paragraph, as the case may be. 

        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.  

45 

        Any
Person into which the Trustee may be merged or converted or with which it may be
consolidated, or any Person resulting from any merger, conversion or consolidation to
which the Trustee shall be a party, or any Person succeeding to all or substantially all
the corporate trust business of the Trustee, shall be the successor of the Trustee
hereunder, provided such Person 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. As soon as practicable, the successor Trustee shall mail a
notice of its succession to the Company and the Holders of the Securities then
Outstanding. 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 and Subsidiary Guarantors.  

        If
and when the Trustee shall be or become a creditor of the Company, any Subsidiary
Guarantor or any other obligor upon the Securities, the Trustee shall be subject to the
provisions of the Trust Indenture Act regarding the collection of claims against the
Company, such Subsidiary Guarantor or any such other obligor. 

SECTION 614.     Appointment
of Authenticating Agent. 

        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 original issue and upon exchange, registration of
transfer, conversion or partial 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 Person 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
Person into which an Authenticating Agent may be merged or converted or with which it may
be consolidated, or any Person resulting from any merger, conversion or consolidation to
which such Authenticating Agent shall be a party, or any Person succeeding to the
corporate agency or corporate trust business of an Authenticating Agent, shall continue to
be an Authenticating Agent, provided such Person 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. 

46 

        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 give notice of such appointment in the
manner provided in Section 106 to all Holders of Securities of the series with respect to
which such Authenticating Agent will serve. 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 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. 

		
		______________________________________,
		        As Trustee
	
 	By:______________________________________
		        As Authenticating Agent
	
 	By:______________________________________
		        Authorized Officer

ARTICLE SEVEN  
HOLDERS’ LISTS
AND REPORTS BY TRUSTEE AND COMPANY  

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

47 

        The
Company will furnish or cause to be furnished to the Trustee with respect to the
Securities of each series: 

	 	        (1)          not
more than 10 days after each record date with respect to the payment of
          interest, if any, a list, in such form as the Trustee may reasonably require,
of           the names and addresses of the Holders of Securities of such series as of
such           record date, and  

	 	        (2)          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.  

        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. 

        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. 

        Every
Holder of Securities, by receiving and holding the same, agrees with the Company and the
Trustee that neither the Company, the Subsidiary Guarantors nor the Trustee nor any agent
of any of them shall be held accountable by reason of any disclosure of information as to
names and addresses of Holders made pursuant to the Trust Indenture Act. 

SECTION 703.     Reports by
Trustee. 

        The
Trustee shall transmit to Holders such 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. 

        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 and with the Subsidiary Guarantors. The Company will
notify the Trustee when any Securities are listed on any stock exchange. 

SECTION 704.     Reports
by Company and Subsidiary Guarantors.  

        The
Company and each of the Subsidiary Guarantors 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 at the
times and in the manner provided pursuant to such 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 Exchange Act shall be filed with the Trustee within 15 days after the same is
so required to be filed with the Commission. 

48 

ARTICLE EIGHT

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE  

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

        The
Company shall not, in a single transaction or a series of related transactions,
consolidate with or merge into any other Person or permit any other Person to consolidate
with or merge into the Company or, directly or indirectly, transfer, convey, sell, lease
or otherwise dispose of all or substantially all of its assets, unless: 

	 	        (1)          in
a transaction in which the Company does not survive or in which the Company
          transfers, conveys, sells, leases or otherwise disposes of all or substantially
          all of its assets, the successor entity (a “Successor Company”) shall
          be a corporation, partnership, trust or other entity organized and validly
          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 prompt payment of the principal of and
any premium           and interest on all the Securities and the performance or
observance of every           covenant of this Indenture on the part of the Company to be
performed or           observed;  

	 	        (2)          immediately
after giving pro forma effect to such transaction and treating any           indebtedness
which becomes an obligation of the Company or any 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;  

	 	        (3)          if,
as a result of any such consolidation or merger or such transfer,           conveyance,
sale, lease or other disposition, properties or assets of the           Company would
become subject to a mortgage, pledge, lien, security interest or           other
encumbrance which would not be permitted by this Indenture, the Company or           the
Successor Company, as the case may be, shall take such steps as shall be
          necessary effectively to secure the Securities equally and ratably with (or
          prior to) all indebtedness secured thereby;  

	 	        (4)          any
other conditions provided pursuant to Section 301 with respect to the
          Securities of a series are satisfied; and  

	 	        (5)          the
Company has delivered to the Trustee an Officers’ Certificate and an
          Opinion of Counsel, each stating that such consolidation, merger, transfer,
          conveyance, sale, lease or other disposition and, if a supplemental indenture
is           required in connection with such transaction, such supplemental indenture
comply           with this Article and that all conditions precedent herein provided for
relating           to such transaction have been complied with.  

49 

SECTION 802.     Subsidiary
Guarantors May Consolidate, Etc., Only on Certain Terms.  

        Except
in a transaction resulting in the release of a Subsidiary Guarantor in accordance with the
terms of this Indenture, each Subsidiary Guarantor shall not, and the Company shall not
permit any Subsidiary Guarantor to, in a single or a series of related transactions,
consolidate or merge with or into any Person (other than the Company or another Subsidiary
Guarantor) or permit any Person (other than another Subsidiary Guarantor) to consolidate
or merge with or into such Subsidiary Guarantor or, directly or indirectly, transfer,
convey, sell, lease or otherwise dispose of all or substantially all of its assets unless,
in each case: 

	 	        (1)          in
a transaction in which such Subsidiary Guarantor does not survive or in which
          all or substantially all of the assets of such Subsidiary Guarantor are
          transferred, conveyed, sold, leased or otherwise disposed of, the successor
          entity (the “Successor Subsidiary Guarantor”) shall be a corporation,
          partnership, trust or other entity organized and validly 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           prompt payment of all obligations of such Subsidiary Guarantor under
its           Subsidiary Guarantee and this Indenture and the performance of every
covenant of           this Indenture on the part of such Subsidiary Guarantor to be
performed or           observed; and  

	 	        (2)          the
Company has delivered to the Trustee an Officers’ Certificate and an
          Opinion of Counsel, each stating that such consolidation, merger, transfer,
          conveyance, sale, lease or other disposition and, if a supplemental indenture
is           required in connection with such transaction, such supplemental indenture,
          comply with this Article and that all conditions precedent herein provided for
          relating to such transaction have been complied with.  

SECTION 803.     Successor
Substituted. 

        (a)              Upon
any consolidation of the Company with, or merger of the Company into, any           other
Person or any transfer, conveyance, sale, lease or other disposition of           all or
substantially all of the assets of the Company in accordance with Section           801,
the Successor Company shall succeed to, and be substituted for, and may
          exercise every right and power of, the Company under this Indenture with the
          same effect as if such successor Person had been named as the Company herein,
          and thereafter, except in the case of a lease, the predecessor Person shall be
          relieved of all obligations and covenants under this Indenture and the
          Securities.  

        (b)              Upon
any consolidation of a Subsidiary Guarantor with, or merger of such           Subsidiary
Guarantor into, any other Person or any transfer, conveyance, sale,           lease or
other disposition of all or substantially all of the assets of such           Subsidiary
Guarantor in accordance with Section 802, the Successor Subsidiary           Guarantor
shall succeed to, and be substituted for, and may exercise every right           and
power of, such Subsidiary Guarantor under this Indenture with the same           effect
as if such successor Person had been named as a Subsidiary Guarantor           herein,
and thereafter, except in the case of a lease, the predecessor Person           shall be
relieved of all obligations and covenants under this Indenture and its
          Subsidiary Guarantee.  

50 

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, the
Subsidiary Guarantors, when authorized by their respective Board Resolutions, 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 Person to the Company or any Subsidiary
          Guarantor and the assumption by any such successor of the covenants of the
          Company or any Subsidiary Guarantor herein and in the Securities or Subsidiary
          Guarantees, as the case may be;  

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

	 	        (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 to permit or facilitate the issuance of Securities in
          uncertificated form;  

	 	        (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 (A) shall neither (i) 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 (ii) modify the rights of the Holder of any           such
Security with respect to such provision or (B) 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
          Sections 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;  

51 

	 	        (9)          to
cure any ambiguity, to correct or supplement any provision herein which may           be
defective or inconsistent with any other provision herein;  

	 	        (10)          to
make any other provisions with respect to matters or questions arising under
          this Indenture, provided that such action pursuant to this clause (10) shall
not           adversely affect the interests of the Holders of Securities of any series
in any           material respect; or  

	 	        (11)          to
add new Subsidiary Guarantors.  

SECTION 902.     Supplemental
Indentures With Consent of Holders.  

        With
the consent of the Holders of not less than a majority in principal amount of the
Outstanding Securities of each series affected by such supplemental indenture, by Act of
said Holders delivered to the Company, the Subsidiary Guarantors and the Trustee, the
Company, when authorized by a Board Resolution, the Subsidiary Guarantors, when authorized
by their respective Board Resolutions 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 or
any           other Security which 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 interest           thereon is payable, or impair the right to institute suit
for the enforcement of           (a) any such payment on or after the Stated Maturity
thereof (or, in the case of           redemption, on or after the Redemption Date or in
the case of an offer to           purchase Securities which has been made pursuant to a
covenant contained in this           Indenture, on or after the applicable purchase date)
or (b) any conversion right           with respect to any Security, or modify the
provisions of this Indenture with           respect to the conversion of the Securities,
in a manner adverse to the Holders,           or release any Subsidiary Guarantee other
than as provided in this Indenture;  

	 	        (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;  

	 	        (3)          modify
any of the provisions of this Section, Section 513 or Section 1009,           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 1009, or the deletion of this proviso, in           accordance
with the requirements of Sections 611 and 901(8); or  

52 

	 	        (4)          following
the making of an offer to purchase Securities from any Holder which           has been
made pursuant to a covenant contained in this Indenture, modify the           provisions
of this Indenture with respect to such offer to purchase in a manner           adverse to
such Holder.  

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. 

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, if applicable the
Subsidiary Guarantees may be endorsed thereon and such new Securities may be authenticated
and delivered by the Trustee in exchange for Outstanding Securities of such series. 

53 

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 promptly pay the principal of and any premium and interest on the Securities of
that series in accordance with the terms of the Securities and this Indenture. Principal,
premium, if any, and interest shall be considered paid on the date due if the Paying
Agent, if other than the Company or a Subsidiary thereof, holds as of 11:00 A.M., New York
City time, on the due date money deposited by the Company in immediately available funds
and designated for and sufficient to pay all principal, premium, if any, and interest then
due. 

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 or, if
applicable, for conversion, where Securities of that series may be surrendered for
registration of transfer or exchange and where notices and demands to or upon the Company
or any Subsidiary Guarantor in respect of the Securities of that series or any Subsidiary
Guarantee 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 each 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 and each Subsidiary Guarantor 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 or any Subsidiary Guarantor 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 or any premium 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 any premium and 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. 

54 

        Whenever
the Company shall have one or more Paying Agents for any series of Securities, it will,
prior to 11:00 A.M., New York City time, on each due date of the principal of or any
premium or interest on any Securities of that series, deposit with a Paying Agent a sum
sufficient to pay such amount, such sum to be held as provided by the Trust Indenture Act,
and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee
of its action 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 provisions of this Section, that such Paying Agent will
(1) comply with the provisions of the Trust Indenture Act applicable to it as a Paying
Agent and (2) during the continuance of any default by the Company, the Subsidiary
Guarantors, if applicable, or any other obligor upon the Securities of that series in the
making of any payment in respect of the Securities of that series, upon the written
request of the Trustee, forthwith pay to the Trustee all sums held in trust by such Paying
Agent for payment in respect of the Securities of that series. 

        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 or any premium or interest on any Security of
any series and remaining unclaimed for two years after such principal, premium 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 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 City of New York, 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.     Statement by Officers as to Default. 

        (a)              The
Company and the Subsidiary Guarantors will deliver to the Trustee, within 90
          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 or any Subsidiary Guarantor, as
the           case may be, is in default in the performance and observance of any of the
          terms, provisions and conditions of this Indenture (without regard to any
period           of grace or requirement of notice provided hereunder) and, if the
Company or any           Subsidiary Guarantor shall be in default, specifying all such
defaults and the           nature and status thereof of which they may have knowledge.  

55 

        (b)              The
Company and each Subsidiary Guarantor shall deliver to the Trustee, as soon           as
possible and in any event within five days after the Company or such           Subsidiary
Guarantor becomes aware or should reasonably become aware of the           occurrence of
an Event of Default or an event which, with notice or the lapse of           time or
both, would constitute an Event of Default, an Officers’          Certificate
setting forth the details of such Event of Default or default, and           the action
which the Company or such Subsidiary Guarantor proposes to take with           respect
thereto.  

SECTION 1005.     Existence. 

        Subject
to Article Eight, the Company will do or cause to be done all things necessary to preserve
and keep in full force and effect the existence, rights (charter and statutory) and
franchises of the Company; provided, however, that the Company shall not be required to
preserve any such right or franchise if it shall determine that the preservation thereof
is no longer desirable in the conduct of the business of the Company and that the loss
thereof is not disadvantageous in any material respect to the Holders. 

SECTION 1006.     Maintenance
of Properties.  

        The
Company will cause all properties used or useful in the conduct of its business or the
business of any Subsidiary to be maintained and kept in good condition, repair and working
order (reasonable wear and tear excepted) and supplied with all necessary equipment and
will cause to be made all necessary repairs, renewals, replacements, betterments and
improvements thereof, all as in the judgment of the Company may be necessary so that the
business carried on in connection therewith may be properly and advantageously conducted
at all times; provided, however, that nothing in this Section shall prevent the Company
from discontinuing the operation or maintenance of any of such properties if such
discontinuance is, in the judgment of the Company, desirable in the conduct of its
business or the business of any Subsidiary and not disadvantageous in any material respect
to the Holders. 

SECTION 1007.     Payment
of Taxes and Other Claims.  

        The
Company will pay or discharge or cause to be paid or discharged, before the same shall
become delinquent, (1) all taxes, assessments and governmental charges levied or imposed
upon the Company or any Subsidiary or upon the income, profits or property of the Company
or any Subsidiary, and (2) all lawful claims for labor, materials and supplies which, if
unpaid, might by law become a lien upon the property of the Company or any Subsidiary;
provided, however, that the Company shall not be required to pay or discharge or cause to
be paid or discharged any such tax, assessment, charge or claim whose amount,
applicability or validity is being contested in good faith by appropriate proceedings. 

SECTION 1008.     Maintenance
of Insurance.  

56 

        The
Company shall, and shall cause its Subsidiaries to, keep at all times all of their
properties which are of an insurable nature insured against loss or damage with insurers
believed by the Company to be responsible to the extent that property of similar character
is usually so insured by corporations similarly situated and owning like properties in
accordance with good business practice. 

SECTION 1009.     Waiver
of Certain Covenants. 

        Except
as otherwise specified as contemplated by Section 301 for Securities of such series, the
Company may, with respect to the Securities of any series, omit in any particular instance
to comply with any term, provision or condition set forth in any of Sections 1005 through
1008 or in any covenant provided pursuant to Section 301(21), 901(2) or 901(7) for the
benefit of the Holders of such series if before the time for such compliance the Holders
of at least a majority 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. 

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 such Securities) 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
or in another manner specified as contemplated by Section 301 for such Securities. In case
of any redemption at the election of the Company of less than all the Securities of any
series (including any such redemption affecting only a single Security), the Company
shall, at least five Business Days prior to giving notice of such redemption (unless a
shorter notice shall be satisfactory to the Trustee), notify the Trustee of such
Redemption Date, of the principal amount of Securities of such series to be redeemed and,
if applicable, of the tenor of the Securities 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.  

57 

        If
less than all the Securities of any series are to be redeemed (unless all the Securities
of such series and of a specified tenor are to be redeemed or unless such redemption
affects only a single Security), the particular Securities to be redeemed shall be
selected by the Trustee, from the Outstanding Securities of such series not previously
called for redemption, (i) in compliance with the requirements of the principal national
securities exchange on which such Securities are listed, if such Securities are listed on
any national securities exchange, and (ii) if such Securities are not so listed, on a pro
rata basis, by lot or by such other method as the Trustee shall deem fair and appropriate
and which may provide for the selection for redemption of a portion of the principal
amount of any Security of such series, provided that the unredeemed portion of the
principal amount of any Security shall be in an authorized denomination (which shall not
be less than the minimum authorized denomination) for such Security. If less than all the
Securities of such series and of a specified tenor are to be redeemed (unless such
redemption affects only a single Security), the particular Securities to be redeemed shall
be selected by the Trustee, from the Outstanding Securities of such series and specified
tenor not previously called for redemption in accordance with the preceding sentence. 

        The
Trustee shall promptly notify the Company in writing of the Securities selected for
redemption as aforesaid and, in case of any Securities selected for partial redemption as
aforesaid, the principal amount thereof to be redeemed. 

        The
provisions of the two preceding paragraphs shall not apply with respect to any redemption
affecting only a single Security, whether such Security is to be redeemed in whole or in
part. In the case of any such redemption in part, the unredeemed portion of the principal
amount of the Security shall be in an authorized denomination (which shall not be less
than the minimum authorized denomination) for such Security. 

        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. If any Security selected for partial
redemption is surrendered for conversion after such selection, the converted portion of
such Security shall be deemed (so far as may be) to be the portion selected for
redemption. Upon any redemption of less than all the Securities of a series, for purposes
of selection for redemption the Company and the Trustee may treat as Outstanding
Securities surrendered for conversion during the period of 15 days next preceding the
mailing of a notice of redemption, and need not treat as Outstanding any Security
authenticated and delivered during such period in exchange for the unconverted portion of
any Security converted in part during such period. 

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; provided, however, notice of
redemption may be given more than 60 days prior to the Redemption Date if the notice is
issued in connection with a satisfaction and discharge pursuant to Article Four. 

        All
notices of redemption shall state: 

	 	        (1)          the
Redemption Date,  

58 

	 	        (2)          the
Redemption Price, if then determinable and otherwise the method of its
          determination,  

	 	        (3)          if
less than all the Outstanding Securities of any series consisting of more           than
a single Security are to be redeemed, the identification (and, in the case           of
partial redemption of any such Securities, the principal amounts) of the
          particular Securities to be redeemed and, if less than all the Outstanding
          Securities of any series consisting of a single Security are to be redeemed,
the           principal amount of the particular Security 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 each such Security is to be surrendered for payment of
          the Redemption Price,  

	 	        (6)          that
the redemption is for a sinking fund, if such is the case, and  

	 	        (7)          if
applicable, the conversion price then in effect and the date on which the           right
to convert such Securities will expire.  

        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 and shall be irrevocable. If any Security called for redemption is
converted pursuant hereto, any money deposited with the Trustee or any Paying Agent or so
segregated and held in trust for the redemption of such Security shall be paid to the
Company upon delivery of a Company Request to the Trustee or such Paying Agent, or, if
then held by the Company, shall be discharged from such trust. 

SECTION 1105.     Deposit
of Redemption Price. 

        Prior
to 11:00 A.M., New York City time, on 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, unless otherwise specified as
contemplated by Section 301, installments of interest whose Stated Maturity is on or prior
to the Redemption Date will 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. 

59 

        If
any Security called for redemption shall not be so paid upon surrender thereof for
redemption, the principal and any premium 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, if applicable to Subsidiary Guarantors shall execute the Subsidiary
Guarantee endorsed thereon, 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
and of like tenor, 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

[INTENTIONALLY OMITTED]  

ARTICLE THIRTEEN

SUBSIDIARY GUARANTEES  

SECTION 1301.     Applicability
of Article.  

        Unless
the Company elects to issue any series of Securities without the benefit of the Subsidiary
Guarantees, which election shall be evidenced in or pursuant to the Board Resolution or
supplemental indenture establishing such series of Securities pursuant to Section 301, the
provisions of this Article shall be applicable to each series of Securities except as
otherwise specified in or pursuant to the Board Resolution or supplemental indenture
establishing such series pursuant to Section 301. 

SECTION 1302.     Subsidiary
Guarantees. 

        Subject
to Section 1301, each Subsidiary Guarantor hereby, jointly and severally, fully and
unconditionally guarantees to each Holder of a Security authenticated and delivered by the
Trustee, the due and prompt payment of the principal of (and premium, if any) and interest
on such Security when and as the same shall become due and payable, whether at the Stated
Maturity, by acceleration, call for redemption, offer to purchase or otherwise, in
accordance with the terms of such Security and of this Indenture, and each Subsidiary
Guarantor similarly guarantees to the Trustee the payment of all amounts owing to the
Trustee in accordance with the terms of this Indenture. In case of the failure of the
Company promptly to make any such payment, each Subsidiary Guarantor hereby, jointly and
severally, agrees to cause such payment to be made promptly when and as the same shall
become due and payable, whether at the Stated Maturity or by acceleration, call for
redemption, offer to purchase or otherwise, and as if such payment were made by the
Company. 

60 

        Each
of the Subsidiary Guarantors hereby jointly and severally agrees that its obligations
hereunder shall be absolute, unconditional, irrespective of, and shall be unaffected by,
the validity, regularity or enforceability of such Security or this Indenture, the absence
of any action to enforce the same or any release, amendment, waiver or indulgence granted
to the Company or any guarantor or any consent to departure from any requirement of any
other guarantee of all or any of the Securities of such series or any other circumstances
which might otherwise constitute a legal or equitable discharge or defense of a surety or
guarantor; provided, however, that, notwithstanding the foregoing, no such release,
amendment, waiver or indulgence shall, without the consent of such Subsidiary Guarantor,
increase the principal amount of such Security, or increase the interest rate thereon, or
alter the Stated Maturity thereof. Each of the Subsidiary Guarantors hereby waives the
benefits of diligence, presentment, demand for payment, any requirement that the Trustee
or any of the Holders protect, secure, perfect or insure any security interest in or other
lien on any property subject thereto or exhaust any right or take any action against the
Company or any other Person or any collateral, filing of claims with a court in the event
of insolvency or bankruptcy of the Company, any right to require a proceeding first
against the Company, protest or notice with respect to such Security or the indebtedness
evidenced thereby and all demands whatsoever, and covenants that this Subsidiary Guarantee
will not be discharged in respect of such Security except by complete performance of the
obligations contained in such Security and in such Subsidiary Guarantee. Each Subsidiary
Guarantor agrees that if, after the occurrence and during the continuance of an Event of
Default, the Trustee or any of the Holders are prevented by applicable law from exercising
their respective rights to accelerate the maturity of the Securities of a series, to
collect interest on the Securities of a series, or to enforce or exercise any other right
or remedy with respect to the Securities of a series, such Subsidiary Guarantor agrees to
pay to the Trustee for the account of the Holders, upon demand therefor, the amount that
would otherwise have been due and payable had such rights and remedies been permitted to
be exercised by the Trustee or any of the Holders. 

        Each
Subsidiary Guarantor shall be subrogated to all rights of the Holders of the Securities
upon which its Subsidiary Guarantee is endorsed against the Company in respect of any
amounts paid by such Subsidiary Guarantor on account of such Security pursuant to the
provisions of its Subsidiary Guarantee or this Indenture; provided, however, that no
Subsidiary Guarantor shall be entitled to enforce or to receive any payments arising out
of, or based upon, such right of subrogation until the principal of (and premium, if any)
and interest on all Securities of the relevant series issued hereunder shall have been
paid in full. 

        Each
Subsidiary Guarantor that makes or is required to make any payment in respect of its
Subsidiary Guarantee shall be entitled to seek contribution from the other Subsidiary
Guarantors to the extent permitted by applicable law; provided, however, that no
Subsidiary Guarantor shall be entitled to enforce or receive any payments arising out of,
or based upon, such right of contribution until the principal of (and premium, if any) and
interest on all Securities of the relevant series issued hereunder shall have been paid in
full. 

61 

        Each
Subsidiary Guarantee shall remain in full force and effect and continue to be effective
should any petition be filed by or against the Company for liquidation or reorganization,
should the Company become insolvent or make an assignment for the benefit of creditors or
should a receiver or trustee be appointed for all or any part of the Company’s
assets, and shall, to the fullest extent permitted by law, continue to be effective or be
reinstated, as the case may be, if at any time payment and performance of the Securities
of a series, is, pursuant to applicable law, rescinded or reduced in amount, or must
otherwise be restored or returned by any Holder of the Securities, whether as a
“voidable preference,” “fraudulent transfer,” or otherwise, all as
though such payment or performance had not been made. In the event that any payment, or
any part thereof, is rescinded, reduced, restored or returned, the Securities shall, to
the fullest extent permitted by law, be reinstated and deemed reduced only by such amount
paid and not so rescinded, reduced, restored or returned. 

SECTION 1303.     Execution
and Delivery of Subsidiary Guarantees. 

        The
Subsidiary Guarantees to be endorsed on the Securities shall include the terms of the
Subsidiary Guarantee set forth in Section 1302 and any other terms that may be set forth
in the form established pursuant to Section 204. Subject to Section 1301, each of the
Subsidiary Guarantors hereby agrees to execute its Subsidiary Guarantee, in a form
established pursuant to Section 204, to be endorsed on each Security authenticated and
delivered by the Trustee. 

        The
Subsidiary Guarantee shall be executed on behalf of each respective Subsidiary Guarantor
by any one of such Subsidiary Guarantor’s Chairman of the Board of Directors, Chief
Executive Officer, President, Chief Financial Officer, one of its Vice Presidents, or its
Corporate Secretary. The signature of any or all of these persons on the Subsidiary
Guarantee may be manual or facsimile. 

        A
Subsidiary Guarantee bearing the manual or facsimile signature of individuals who were at
any time the proper officers of a Subsidiary Guarantor shall bind such Subsidiary
Guarantor, notwithstanding that such individuals or any of them have ceased to hold such
offices prior to the authentication and delivery of the Security on which such Subsidiary
Guarantee is endorsed or did not hold such offices at the date of such Subsidiary
Guarantee. 

        The
delivery of any Security by the Trustee, after the authentication thereof hereunder, shall
constitute due delivery of the Subsidiary Guarantee endorsed thereon on behalf of the
Subsidiary Guarantors and shall bind each Subsidiary Guarantor notwithstanding the fact
that Subsidiary Guarantee does not bear the signature of such Subsidiary Guarantor. Each
of the Subsidiary Guarantors hereby jointly and severally agrees that its Subsidiary
Guarantee set forth in Section 1302 and in the form of Subsidiary Guarantee established
pursuant to Section 204 shall remain in full force and effect notwithstanding any failure
to endorse a Subsidiary Guarantee on any Security. For all other provisions of this
Indenture such Subsidiary Guarantees shall be deemed to be duly endorsed. 

SECTION 1304.     Release
of Subsidiary Guarantors. 

62 

        Unless
otherwise specified pursuant to Section 301 with respect to a series of Securities, each
Subsidiary Guarantee will remain in effect with respect to the respective Subsidiary
Guarantor until the entire principal of, premium, if any, and interest on the Securities
to which such Subsidiary Guarantee relates shall have been paid in full or otherwise
satisfied and discharged in accordance with the provisions of such Securities and this
Indenture and all amounts owing to the Trustee hereunder have been paid; provided,
however, that if (i) such Subsidiary Guarantor ceases to be a Subsidiary in compliance
with the applicable provisions of this Indenture, (ii) either Defeasance or Covenant
Defeasance occurs with respect to such Securities pursuant to Article Fifteen or (iii) all
or substantially all of the assets of such Subsidiary Guarantor or all of the Capital
Stock of such Subsidiary Guarantor is sold (including by sale, merger, consolidation or
otherwise) by the Company or any Subsidiary in a transaction complying with the
requirements of this Indenture, then, in each case of (i), (ii) or (iii), upon delivery by
the Company of an Officers’ Certificate and an Opinion of Counsel stating that all
conditions precedent herein provided for relating to the release of such Subsidiary
Guarantor from its obligations under its Subsidiary Guarantee and this Article Thirteen
have been complied with, such Subsidiary Guarantor shall be released and discharged of its
obligations under its Subsidiary Guarantee and under this Article Thirteen without any
action on the part of the Trustee or any Holder, and the Trustee shall execute any
documents reasonably required in order to acknowledge the release of such Subsidiary
Guarantor from its obligations under its Subsidiary Guarantee endorsed on the Securities
of such series and under this Article Thirteen. 

SECTION 1305.     Additional
Subsidiary Guarantors. 

        Unless
otherwise specified pursuant to Section 301 with respect to a series of Securities, the
Company will cause any Domestic Subsidiary of the Company that becomes a Material Domestic
Subsidiary after the date the Securities of a series are first issued hereunder to become
a Subsidiary Guarantor as soon as practicable after such Subsidiary becomes a Material
Domestic Subsidiary. The Company shall cause any such Subsidiary to become a Subsidiary
Guarantor with respect to the Securities by executing and delivering to the Trustee (a) a
supplemental indenture, in form and substance satisfactory to the Trustee, which subjects
such Person to the provisions (including the representations and warranties) of this
Indenture as a Subsidiary Guarantor and (b) an Opinion of Counsel to the effect that such
supplemental indenture has been duly authorized and executed by such Person and such
supplemental indenture and such Person’s obligations under its Subsidiary Guarantee
and this Indenture constitute the legal, valid, binding and enforceable obligations of
such Person (subject to such customary exceptions concerning creditors’ rights and
equitable principles as may be acceptable to the Trustee in its discretion). 

SECTION 1306.     Limitation
on Liability. 

        Any
term or provision of this Indenture to the contrary notwithstanding, the maximum amount of
the Subsidiary Guarantee of any Subsidiary Guarantor shall not exceed the maximum amount
that can be hereby guaranteed by such Subsidiary Guarantor without rendering such
Subsidiary Guarantee voidable under applicable law relating to fraudulent conveyance or
fraudulent transfer or similar laws affecting the rights of creditors generally. 

63 

ARTICLE FOURTEEN

[INTENTIONALLY OMITTED]  

ARTICLE FIFTEEN

DEFEASANCE AND COVENANT DEFEASANCE  

SECTION 1501.     Company's
Option to Effect Defeasance or Covenant Defeasance. 

        The
Company may elect, at its option at any time, to have Section 1502 or Section 1503 applied
to any Securities or any series of Securities, as the case may be, designated pursuant to
Section 301 as being defeasible pursuant to such Section 1502 or 1503, in accordance with
any applicable requirements provided pursuant to Section 301 and upon compliance with the
conditions set forth below in this Article. Any such election shall be evidenced in or
pursuant to a Board Resolution or in another manner specified as contemplated by Section
301 for such Securities. 

SECTION 1502.     Defeasance
and Discharge. 

        Upon
the Company’s exercise of its option (if any) to have this Section applied to any
Securities or any series of Securities, as the case may be, the Company shall be deemed to
have been discharged from its obligations, and each Subsidiary Guarantor shall be deemed
to have been discharged from its obligations with respect to its Subsidiary Guarantees of
such Securities, as provided in this Section on and after the date the conditions set
forth in Section 1504 are satisfied (herein called “Defeasance”). For this
purpose, such Defeasance means that the Company shall be deemed to have paid and
discharged the entire indebtedness represented by such Securities and to have satisfied
all its other obligations under such Securities and this Indenture insofar as such
Securities are concerned (and the Trustee, at the expense of the Company, shall execute
proper instruments acknowledging the same), subject to the following which shall survive
until otherwise terminated or discharged hereunder: (1) the rights of Holders of such
Securities to receive, solely from the trust fund described in Section 1504 and as more
fully set forth in such Section, payments in respect of the principal of and any premium
and interest on such Securities when payments are due, or, if applicable, to convert such
Securities in accordance with their terms, (2) the Company’s and each Subsidiary
Guarantor’s obligations with respect to such Securities under Sections 304, 305, 306,
1002 and 1003, and, if applicable, their obligations with respect to the conversion of
such Securities, (3) the rights, powers, trusts, duties and immunities of the Trustee
hereunder and (4) this Article. Subject to compliance with this Article, the Company may
exercise its option (if any) to have this Section applied to any Securities
notwithstanding the prior exercise of its option (if any) to have Section 1503 applied to
such Securities. 

SECTION 1503.     Covenant
Defeasance. 

        Upon
the Company’s exercise of its option (if any) to have this Section applied to any
Securities or any series of Securities, as the case may be, (1) the Company shall be
released from its obligations under Section 801(3), Sections 1005 through 1008, inclusive,
and any covenants provided pursuant to Section 301(21), 901(2) or 901(7) for the benefit
of the Holders of such Securities, and (2) the occurrence of any event specified in
Sections 501(5) (with respect to any of Section 801(3), Sections 1005 through 1008,
inclusive, and any such covenants provided pursuant to Section 301(21), 901(2) or 901(7)),
501(6), 501(7)), 501(10) and 501(11) shall be deemed not to be or result in an Event of
Default and (3) the provisions of Article Thirteen shall cease to be effective, in each
case with respect to such Securities and Subsidiary Guarantees as provided in this Section
on and after the date the conditions set forth in Section 1504 are satisfied (herein
called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means
that, with respect to such Securities, the Company and the Subsidiary Guarantors, as
applicable, may omit to comply with and shall have no liability in respect of any term,
condition or limitation set forth in any such specified Section (to the extent so
specified in the case of Section 501(5)) or Article Thirteen, whether directly or
indirectly by reason of any reference elsewhere herein to any such Section or Article or
by reason of any reference in any such Section or Article to any other provision herein or
in any other document, but the remainder of this Indenture and such Securities shall be
unaffected thereby. 

64 

SECTION 1504.     Conditions
to Defeasance or Covenant Defeasance. 

        The
following shall be the conditions to the application of Section 1502 or Section 1503 to
any Securities or any series of Securities, as the case may be: 

	 	        (1)          The
Company shall irrevocably have deposited or caused to be deposited with the
          Trustee (or another trustee which satisfies the requirements contemplated by
          Section 609 and agrees to comply with the provisions of this Article applicable
          to it) as trust funds in trust for the purpose of making the following
payments,           specifically pledged as security for, and dedicated solely to, the
benefits of           the Holders of such Securities, (A) money in an amount, or (B) U.S.
Government           Obligations which through the scheduled payment of principal and
interest in           respect thereof in accordance with their terms will provide, not
later than one           day before the due date of any payment, money in an amount, or
(C) 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,
and which shall be applied by           the Trustee (or any such other qualifying
trustee) to pay and discharge, the           principal of and any premium and interest on
such Securities on the respective           Stated Maturities, in accordance with the
terms of this Indenture and such           Securities. As used herein, “U.S.
Government Obligation” means (x) any           security which is (i) a direct
obligation of the United States of America for           the payment of which the full
faith and credit of the United States of America           is pledged or (ii) an
obligation of a Person controlled or supervised by and           acting as an agency or
instrumentality of the United States of America the           payment of which is
unconditionally guaranteed as a full faith and credit           obligation by the United
States of America, which, in either case (i) or (ii),           is not callable or
redeemable at the option of the issuer thereof, and (y) any           depositary receipt
issued by a bank (as defined in Section 3(a)(2) of the           Securities Act) as
custodian with respect to any U.S. Government Obligation           which is specified in
clause (x) above and held by such bank for the account of           the holder of such
depositary receipt, or with respect to any specific payment           of principal of or
interest on any U.S. Government Obligation which is so           specified and held,
provided that (except as required by law) such custodian is           not authorized to
make any deduction from the amount payable to the holder of           such depositary
receipt from any amount received by the custodian in respect of           the U.S.
Government Obligation or the specific payment of principal or interest
          evidenced by such depositary receipt.  

65 

	 	        (2)          In
the event of an election to have Section 1502 apply to any Securities or any
          series of Securities, as the case may be, the Company shall have delivered to
          the Trustee an Opinion of Counsel stating that (A) the Company has received
          from, or there has been published by, the Internal Revenue Service a ruling or
          (B) since the date of this instrument, there has been a change in the
applicable           Federal income tax law, in either case (A) or (B) to the effect
that, and based           thereon such opinion shall confirm that, the Holders of such
Securities will not           recognize gain or loss for Federal income tax purposes as a
result of the           deposit, Defeasance and discharge to be effected with respect to
such Securities           and will be subject to Federal income tax on the same amount,
in the same manner           and at the same times as would be the case if such deposit,
Defeasance and           discharge were not to occur.  

	 	        (3)          In
the event of an election to have Section 1503 apply to any Securities or any
          series of Securities, as the case may be, the Company shall have delivered to
          the Trustee an Opinion of Counsel to the effect that the Holders of such
          Securities will not recognize gain or loss for Federal income tax purposes as a
          result of the deposit and Covenant Defeasance to be effected with respect to
          such Securities and will be subject to Federal income tax on the same amount,
in           the same manner and at the same times as would be the case if such deposit
and           Covenant Defeasance were not to occur.  

	 	        (4)
         The Company shall have delivered to the Trustee an Officers’ Certificate to
          the effect that neither such Securities nor any other Securities of the same
          series, if then listed on any securities exchange, will be delisted as a result
          of such deposit.  

	 	        (5)          No
event which is, or after notice or lapse of time or both would become, an           Event
of Default with respect to such Securities or any other Securities shall           have
occurred and be continuing at the time of such deposit or, with regard to           any
such event specified in Sections 501(7) and (8), at any time on or prior to           the
121st day after the date of such deposit (it being understood that this
          condition shall not be deemed satisfied until after such 121st day).  

	 	        (6)          Such
Defeasance or Covenant Defeasance shall not cause the Trustee to have a
          conflicting interest within the meaning of the Trust Indenture Act (assuming
all           Securities are in default within the meaning of such Act).  

	 	        (7)          Such
Defeasance or Covenant Defeasance shall not result in a breach or violation           of,
or constitute a default under, any other agreement or instrument to which           the
Company or any Subsidiary is a party or by which it is bound.  

	 	        (8)          The
Company shall have delivered to the Trustee an Opinion of Counsel to the           effect
that such deposit shall not cause either the Trustee or the trust so           created to
be subject to the Investment Company Act of 1940.  

66 

	 	        (9)          The
Company shall have delivered to the Trustee an Officers’ Certificate           and
an Opinion of Counsel, each stating that all conditions precedent with           respect
to such Defeasance or Covenant Defeasance have been complied with.  

SECTION 1505.     Deposited
Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous Provisions.  

        Subject
to the provisions of the last paragraph of Section 1003, all money and U.S. Government
Obligations (including the proceeds thereof) deposited with the Trustee or other
qualifying trustee (solely for purposes of this Section and Section 1506, the Trustee and
any such other trustee are referred to collectively as the “Trustee”) pursuant
to Section 1504 in respect of any Securities shall be held in trust and applied by the
Trustee, in accordance with the provisions of such Securities and this Indenture, to the
payment, either directly or through any such Paying Agent (including the Company acting as
its own Paying Agent) as the Trustee may determine, to the Holders of such Securities, of
all sums due and to become due thereon in respect of principal and any premium and
interest, but money so held in trust need not be segregated from other funds except to the
extent required by law. 

        The
Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the U.S. Government Obligations deposited pursuant to Section 1504
or the principal and interest received in respect thereof other than any such tax, fee or
other charge which by law is for the account of the Holders of Outstanding Securities. 

        Anything
in this Article to the contrary notwithstanding, the Trustee shall deliver or pay to the
Company from time to time upon Company Request any money or U.S. Government Obligations
held by it as provided in Section 1504 with respect to any Securities which, in the
opinion of a nationally recognized firm of independent public accountants expressed in a
written certification thereof delivered to the Trustee, are in excess of the amount
thereof which would then be required to be deposited to effect the Defeasance or Covenant
Defeasance, as the case may be, with respect to such Securities. 

SECTION 1506.     Reinstatement. 

        If
the Trustee or the Paying Agent is unable to apply any money in accordance with this
Article with respect to any Securities by reason of any order or judgment of any court or
governmental authority enjoining, restraining or otherwise prohibiting such application,
then the obligations under this Indenture and such Securities from which the Company has
been discharged or released pursuant to Section 1502 or 1503 shall be revived and
reinstated as though no deposit had occurred pursuant to this Article with respect to such
Securities, until such time as the Trustee or Paying Agent is permitted to apply all money
held in trust pursuant to Section 1505 with respect to such Securities in accordance with
this Article; provided, however, that if the Company makes any payment of principal of or
any premium or interest on any such Security following such reinstatement of its
obligations, the Company shall be subrogated to the rights (if any) of the Holders of such
Securities to receive such payment from the money so held in trust. 

67 

ARTICLE SIXTEEN
 
SINKING FUNDS  

SECTION 1601.      Applicability
of Article. 

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

        The
minimum amount of any sinking fund payment provided for by the terms of any Securities 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 such Securities is herein
referred to as an “optional sinking fund payment.” If provided for by the terms
of any Securities, the cash amount of any sinking fund payment may be subject to reduction
as provided in Section 1602. Each sinking fund payment shall be applied to the redemption
of Securities as provided for by the terms of such Securities. 

SECTION 1602.     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 (x) converted or (y) 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 any Securities of such series
required to be made pursuant to the terms of such Securities as and to the extent provided
for by the terms of such Securities; provided, however, that the Securities to be so
credited have not been previously so credited. The Securities to be so credited shall be
received and credited for such purpose by the Trustee at the Redemption Price, as
specified in the Securities so to be redeemed, for redemption through operation of the
sinking fund and the amount of such sinking fund payment shall be reduced accordingly. 

SECTION 1603.     Redemption
of Securities for Sinking Fund. 

        Not
less than 35 days prior to each sinking fund payment date for any Securities, the Company
will deliver to the Trustee an Officers’ Certificate specifying the amount of the
next ensuing sinking fund payment for such Securities pursuant to the terms of such
Securities, 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 pursuant to Section 1602 and will also deliver to the Trustee any Securities to
be so delivered. Not less than 32 days prior to 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. 

68 

        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. 

69 

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

		
		ISSUER:
	
 	GEHL COMPANY
	

 	By:____________________________
		Name:
		Title:
	
 	SUBSIDIARY GUARANTORS:
		[INSERT SUBSIDIARY GUARANTORS]
	

 	By:____________________________
		Name:
		Title:
	
 	TRUSTEE:
	

 	____________________________,
		as Trustee
	

 	By:____________________________
		Name:__________________________
		Title:___________________________

70 

SCHEDULE I
SUBSIDIARY
GUARANTORS  

		
	SUBSIDIARY	STATE OF ORGANIZATION

[Insert Subsidiary
Guarantors] 

I-1GEHL COMPANY
AS ISSUER  

AND 

THE SUBSIDIARY
GUARANTORS NAMED HEREIN,
AS SUBSIDIARY GUARANTORS  

TO 

     _________________ 

AS TRUSTEE 

SUBORDINATED INDENTURE 

DATED AS OF
_____________, 200_ 

     

TABLE OF CONTENTS 

		Page
	
PARTIES	  1
	
RECITALS OF THE COMPANY AND THE SUBSIDIARY GUARANTORS	  1

ARTICLE ONE
                                         
DEFINITIONS AND OTHER PROVISIONS
                                              
OF GENERAL APPLICATION 

	SECTION 101.	Definitions	  1
	SECTION 102.	Compliance Certificates and Opinions	  8
	SECTION 103.	Form of Documents Delivered to Trustee	  9
	SECTION 104.	Acts of Holders; Record Dates	  9
	SECTION 105.	Notices, Etc., to Trustee and Company	11
	SECTION 106.	Notice to Holders; Waiver	12
	SECTION 107.	Conflict with Trust Indenture Act	12
	SECTION 108.	Effect of Headings and Table of Contents	12
	SECTION 109.	Successors and Assigns	12
	SECTION 110.	Separability Clause	12
	SECTION 111.	Benefits of Indenture	12
	SECTION 112.	Governing Law	13
	SECTION 113.	Legal Holidays	13

ARTICLE TWO
                                                  
SECURITY FORMS 

	SECTION 201.	Forms Generally	13
	SECTION 202.	Form of Face of Security	13
	SECTION 203.	Form of Reverse of Security	15
	SECTION 204.	Form of Subsidiary Guarantee	19
	SECTION 205.	Form of Legend for Global Securities	21
	SECTION 206.	Form of Trustee's Certificate of Authentication	22
	SECTION 207.	Form of Conversion Notice	22

ARTICLE THREE
                                                  
THE SECURITIES 

	SECTION 301.	Amount Unlimited; Issuable in Series	23
	SECTION 302.	Denominations	26
	SECTION 303.	Execution, Authentication, Delivery and Dating	26
	SECTION 304.	Temporary Securities	28
	SECTION 305.	Registration, Registration of Transfer and Exchange	28
	SECTION 306.	Mutilated, Destroyed, Lost and Stolen Securities	30

			
	SECTION 307.	Payment of Interest; Interest Rights Preserved	31
	SECTION 308.	Persons Deemed Owners	32
	SECTION 309.	Cancellation	32
	SECTION 310.	Computation of Interest	32

ARTICLE FOUR
                                            
SATISFACTION AND DISCHARGE 

	SECTION 401.	Satisfaction and Discharge of Indenture	33
	SECTION 402.	Application of Trust Money	34

ARTICLE FIVE
                                                     
REMEDIES 

	SECTION 501.	Events of Default	34
	SECTION 502.	Acceleration of Maturity; Rescission and Annulment	36
	SECTION 503.	Collection of Indebtedness and Suits for Enforcement by Trustee	37
	SECTION 504.	Trustee May File Proofs of Claim	38
	SECTION 505.	Trustee May Enforce Claims Without Possession of Securities	38
	SECTION 506.	Application of Money Collected	38
	SECTION 507.	Limitation on Suits	39
	SECTION 508.	Unconditional Right of Holders to Receive Principal, Premium and Interest	39
	SECTION 509.	Restoration of Rights and Remedies	40
	SECTION 510.	Rights and Remedies Cumulative	40
	SECTION 511.	Delay or Omission Not Waiver	40
	SECTION 512.	Control by Holders	40
	SECTION 513.	Waiver of Past Defaults	41
	SECTION 514.	Undertaking for Costs	41
	SECTION 515.	Waiver of Usury, Stay or Extension Laws	41

ARTICLE SIX
                                                    
THE TRUSTEE 

	SECTION 601.	Certain Duties and Responsibilities	42
	SECTION 602.	Notice of Defaults	42
	SECTION 603.	Certain Rights of Trustee	42
	SECTION 604.	Not Responsible for Recitals or Issuance of Securities	43
	SECTION 605.	May Hold Securities	43
	SECTION 606.	Money Held in Trust	43
	SECTION 607.	Compensation and Reimbursement	44
	SECTION 608.	Conflicting Interests	44
	SECTION 609.	Corporate Trustee Required; Eligibility	44
	SECTION 610.	Resignation and Removal; Appointment of Successor	45
	SECTION 611.	Acceptance of Appointment by Successor	46
	SECTION 612.	Merger, Conversion, Consolidation or Succession to Business	47

ii 

			
	SECTION 613.	Preferential Collection of Claims Against Company and Subsidiary Guarantors	47
	SECTION 614.	Appointment of Authenticating Agent	47

ARTICLE SEVEN
                                 
HOLDERS' LISTS AND REPORTS BY TRUSTEE AND COMPANY 

	SECTION 701.	Company to Furnish Trustee Names and Addresses of Holders	49
	SECTION 702.	Preservation of Information; Communications to Holders	49
	SECTION 703.	Reports by Trustee	50
	SECTION 704.	Reports by Company and Subsidiary Guarantors	50

ARTICLE EIGHT
                               
CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 

	SECTION 801.	Company May Consolidate, Etc., Only on Certain Terms	50
	SECTION 802.	Subsidiary Guarantors May Consolidate, Etc., Only on Certain Terms	51
	SECTION 803.	Successor Substituted	52

ARTICLE NINE
                                              
SUPPLEMENTAL INDENTURES 

	SECTION 901.	Supplemental Indentures Without Consent of Holders	52
	SECTION 902.	Supplemental Indentures With Consent of Holders	53
	SECTION 903.	Execution of Supplemental Indentures	54
	SECTION 904.	Effect of Supplemental Indentures	55
	SECTION 905.	Conformity with Trust Indenture Act	55
	SECTION 906.	Reference in Securities to Supplemental Indentures	55

ARTICLE TEN
                                                     
COVENANTS 

	SECTION 1001.	Payment of Principal, Premium and Interest	55
	SECTION 1002.	Maintenance of Office or Agency	55
	SECTION 1003.	Money for Securities Payments to Be Held in Trust	56
	SECTION 1004.	Statement by Officers as to Default	57
	SECTION 1005.	Existence	57
	SECTION 1006.	Maintenance of Properties	58
	SECTION 1007.	Payment of Taxes and Other Claims	58
	SECTION 1008.	Maintenance of Insurance	58
	SECTION 1009.	Waiver of Certain Covenants	58

ARTICLE ELEVEN
                                             
REDEMPTION OF SECURITIES 

	SECTION 1101.	Applicability of Article	59
	SECTION 1102.	Election to Redeem; Notice to Trustee	59

iii 

			
	SECTION 1103.	Selection by Trustee of Securities to Be Redeemed	59
	SECTION 1104.	Notice of Redemption	60
	SECTION 1105.	Deposit of Redemption Price	61
	SECTION 1106.	Securities Payable on Redemption Date	61
	SECTION 1107.	Securities Redeemed in Part	61

ARTICLE TWELVE
                                            
SUBORDINATION OF SECURITIES 

	SECTION 1201.	Applicability of Article	62
	SECTION 1202.	Securities Subordinate to Senior Debt	62
	SECTION 1203.	Payment Over of Proceeds Upon Dissolution, Etc	62
	SECTION 1204.	No Payment When Senior Debt of the Company in Default	63
	SECTION 1205.	Payment Permitted If No Default	64
	SECTION 1206.	Subrogation to Rights of Holders of Senior Debt of the Company	65
	SECTION 1207.	Provisions Solely to Define Relative Rights	65
	SECTION 1208.	Trustee to Effectuate Subordination	65
	SECTION 1209.	No Waiver of Subordination Provisions	65
	SECTION 1210.	Notice to Trustee	66
	SECTION 1211.	Reliance on Judicial Order or Certificate of Liquidating Agent	67
	SECTION 1212.	Trustee Not Fiduciary for Holders of Senior Debt of the Company	67
	SECTION 1213.	Rights of Trustee as Holder of Senior Debt of the Company; Preservation of Trustee's Rights	67
	SECTION 1214.	Article Applicable to Paying Agents	67
	SECTION 1215.	Defeasance of this Article Twelve	68

ARTICLE THIRTEEN
                                               
SUBSIDIARY GUARANTEES 

	SECTION 1301.	Applicability of Article	68
	SECTION 1302.	Subsidiary Guarantees	68
	SECTION 1303.	Execution and Delivery of Subsidiary Guarantees	70
	SECTION 1304.	Release of Subsidiary Guarantors	70
	SECTION 1305.	Additional Subsidiary Guarantors	71
	SECTION 1306.	Limitation on Liability	71

ARTICLE FOURTEEN
                                      
SUBORDINATION OF SUBSIDIARY GUARANTEES 

	SECTION 1401.	Applicability of Article	71
	SECTION 1402.	Subsidiary Guarantees Subordinate to Senior Debt of Subordinate Guarantors	72
	SECTION 1403.	Payment Over of Proceeds Upon Dissolution, Etc	72
	SECTION 1404.	No Payment When Senior Debt of the Company in Default	73
	SECTION 1405.	Payment Permitted If No Default	74
	SECTION 1406.	Subrogation to Rights of Holders of Senior Debt of such Subsidiary Guarantor	74

iv 

			
	SECTION 1407.	Provisions Solely to Define Relative Rights	74
	SECTION 1408.	Trustee to Effectuate Subordination	75
	SECTION 1409.	No Waiver of Subordination Provisions	75
	SECTION 1410.	Notice to Trustee	76
	SECTION 1411.	Reliance on Judicial Order or Certificate of Liquidating Agent	76
	SECTION 1412.	Trustee Not Fiduciary for Holders of Senior Debt of such Subsidiary Guarantor	77
	SECTION 1413.	Rights of Trustee as Holder of Senior Debt of such Subsidiary Guarantor; Preservation of Trustee's Rights	77
	SECTION 1414.	Article Applicable to Paying Agents	77
	SECTION 1415.	Defeasance of this Article Fourteen	77

ARTICLE FIFTEEN
                                        
DEFEASANCE AND COVENANT DEFEASANCE 

	SECTION 1501.	Company's Option to Effect Defeasance or Covenant Defeasance	77
	SECTION 1502.	Defeasance and Discharge	78
	SECTION 1503.	Covenant Defeasance	78
	SECTION 1504.	Conditions to Defeasance or Covenant Defeasance	79
	SECTION 1505.	Deposited Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous Provisions	81
	SECTION 1506.	Reinstatement	81

ARTICLE SIXTEEN
                                                   
SINKING FUNDS 

	SECTION 1601.	Applicability of Article	82
	SECTION 1602.	Satisfaction of Sinking Fund Payments with Securities	82
	SECTION 1603.	Redemption of Securities for Sinking Fund	82

	SIGNATURES	83
	
SCHEDULE I	I-1

v 

GEHL COMPANY 

CERTAIN SECTIONS OF THIS
INDENTURE RELATING TO SECTIONS 310 THROUGH 
318, INCLUSIVE, OF THE TRUST INDENTURE ACT OF
1939:  

	TRUST INDENTURE

ACT SECTION	INDENTURE 
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
	                    (b)	702
	                    (c)	702
	Section 313(a)	703
	                    (b)	703
	                    (c)	703
	                    (d)	703
	Section 314(a)	704
	                    (a)(4)	101, 1004
	                    (b)	Not Applicable
	                    (c)(1)	102
	                    (c)(2)	102
	                    (c)(3)	Not Applicable
	                    (d)	Not Applicable
	                    (e)	102
	Section 315(a)	601
	                    (b)	602
	                    (c)	601
	                    (d)	601
	                    (e)	514
	Section 316(a)	101
	                    (a)(1)(A)	502, 512
	                    (a)(1)(B)	513
	                    (a)(2)	Not Applicable
	                    (b)	508
	                    (c)	104
	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. 

vi   

        INDENTURE,
dated as of __________, 200__, among Gehl Company, a corporation duly organized and
existing under the laws of the State of Wisconsin (herein called the “Company”),
having its principal office at 143 Water Street, West Bend, Wisconsin 53095, each of the
Subsidiary Guarantors (as hereinafter defined) and _____________________, a banking
corporation duly organized and existing under the laws of the State of __________, as
Trustee (herein called the “Trustee”). 

RECITALS OF THE
COMPANY AND THE SUBSIDIARY GUARANTORS 

        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. 

        The
Company and the Subsidiary Guarantors are members of the same consolidated group of
companies. The Subsidiary Guarantors will derive direct and indirect economic benefit from
the issuance of the Securities. Accordingly, each Subsidiary Guarantor has duly authorized
the execution and delivery of this Indenture to provide for its full, unconditional and
joint and several guarantee of the Securities to the extent provided in or pursuant 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 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 this instrument;  

	 	        (4)          unless
the context otherwise requires, any reference to an “Article”          or a
“Section” refers to an Article or a Section, as the case may be,           of
this Indenture; and  

	 	        (5)          the
words “herein”, “hereof”, “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. 

        “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; provided that direct or indirect beneficial ownership of 10%
or more of the Voting Stock of a Person shall be deemed to constitute control. 

        “Authenticating
Agent” means any Person authorized by the Trustee pursuant to Section 614 to act on
behalf of the Trustee to authenticate Securities of one or more series. 

        “Board
of Directors” means, with respect to the Company, either the board of directors of
the Company or any committee of that board duly authorized to act for it in respect
hereof, and with respect to any Subsidiary Guarantor, either the board of directors of
such Subsidiary Guarantor or any committee of that board duly authorized to act for it in
respect hereof. 

        “Board
Resolution” means, with respect to the Company or a Subsidiary Guarantor, a copy of a
resolution certified by the Corporate Secretary or an Assistant Corporate Secretary of the
Company or such Subsidiary Guarantor, as the case may be, to have been duly adopted by its
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 or executive order to close. 

        “Capital
Stock” of any Person means any and all shares, interests, participations or other
equivalents (however designated) of corporate stock or other equity participations,
including partnership interests, whether general or limited, of such Person. 

        “Commission”
means the Securities and Exchange Commission, from time to time constituted, created under
the Exchange Act, 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. 

2 

        “Common
Stock” means the common stock, $.10 par value, of the Company as the same exists at
the date of execution and delivery of this Indenture or other Capital Stock of the Company
into which such common stock is converted, reclassified or changed from time to time. 

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

        “Company
Request” or “Company Order” means a written request or order signed in the
name of the Company by its Chairman of the Board of Directors, its Chief Executive
Officer, its President, its Chief Financial Officer or a Vice President, and by its
Treasurer, an Assistant Treasurer, its Corporate Secretary or an Assistant Corporate
Secretary, and delivered to the Trustee. 

        “Conversion
Agent” means any Person authorized by the Company to convert any Securities on behalf
of the Company. 

        “Corporate
Trust Office” means the principal office of the Trustee at which at any particular
time its corporate trust business shall be administered, such office being located on the
date hereof at ____________________________________________________________. 

        “corporation”
means a corporation, association, limited liability company, joint-stock company or
business trust. 

        “Covenant
Defeasance” has the meaning specified in Section 1503. 

        “Defaulted
Interest” has the meaning specified in Section 307. 

        “Defeasance”
has the meaning specified in Section 1502. 

        “Depositary” means,
with respect to Securities of any series issuable in whole or in part in the form of one
or more Global Securities, a clearing agency registered under the Exchange Act that is
designated to act as Depositary for such Securities as contemplated by Section 301. 

        “Designated
Senior Debt” with respect to any series of Securities or any Subsidiary Guarantees
shall have the meaning specified as contemplated by Section 301. 

        “Domestic
Subsidiary” means any Subsidiary of the Company other than a Foreign Subsidiary. 

        “Event
of Default” has the meaning specified in Section 501. 

        “Exchange
Act” means the Securities Exchange Act of 1934 and any statute successor thereto, in
each case as amended from time to time. 

        “Expiration
Date” has the meaning specified in Section 104. 

3 

        “Foreign
Subsidiary” means any Subsidiary of the Company that was not formed under the laws of
the United States or any state of the United States or the District of Columbia and that
conducts substantially all of its operations outside the United States. 

        “Global
Security” means a Security that evidences all or part of the Securities of any series
and bears the legend set forth in Section 205 (or such legend as may be specified as
contemplated by Section 301 for such Securities). 

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

        “Indenture”
means this instrument as originally executed and 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, including, for all purposes of this
instrument and any such supplemental indenture, the provisions of the Trust Indenture Act
that are deemed to be a part of and govern this instrument and any such supplemental
indenture, respectively. The term “Indenture” shall also include the terms of
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. 

        “Investment
Company Act” means the Investment Company Act of 1940 and any statute successor
thereto, in each case as amended from time to time. 

        “Junior
Subordinated Payment” has the meaning specified in Section 1203. 

        “Material
Domestic Subsidiary” means any one Domestic Subsidiary, or any group of two or more
Domestic Subsidiaries, that is not a Subsidiary Guarantor at the time of determination and
that at such time has either assets or quarterly revenues in excess of 3.0% of the
consolidated assets or quarterly revenues of the Company and its Subsidiaries, in each
case based upon the most recent quarterly financial statements available to the Company. 

        “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. 

        “Notice
of Default” means a written notice of the kind specified in Section 501(5). 

        “Officers’
Certificate” means a certificate signed by the Chairman of the Board of Directors,
the Chief Executive Officer, the President, the Chief Financial Officer or a Vice
President, and by the Treasurer, an Assistant Treasurer, the Corporate Secretary or an
Assistant Corporate Secretary, of the Company or a Subsidiary Guarantor, as the case may
be, and delivered to the Trustee. One of the officers signing an Officers’
Certificate given pursuant to Section 1004 shall be the principal executive, financial or
accounting officer of the Company. 

4 

        “Opinion
of Counsel” means, as to the Company or a Subsidiary Guarantor, a written opinion of
counsel, who may be counsel for the Company or such Subsidiary Guarantor, as the case may
be, and who shall be reasonably 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: 

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

	 	        (2)          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;  

	 	        (3)          Securities
as to which Defeasance has been effected pursuant to Section 1502;           and  

	 	        (4)          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, made or taken any request, demand, authorization, direction,
notice, consent, waiver or other action hereunder as of any date, (A) the principal amount
of an Original Issue Discount Security which shall be deemed to be Outstanding shall be
the amount of the principal thereof which would be due and payable as of such date upon
acceleration of the Maturity thereof to such date pursuant to Section 502, (B) if, as of
such date, the principal amount payable at the Stated Maturity of a Security is not
determinable, the principal amount of such Security which shall be deemed to be
Outstanding shall be the amount as specified or determined as contemplated by Section 301,
(C) the principal amount of a Security denominated in one or more foreign currencies or
currency units which shall be deemed to be Outstanding shall be the U.S. dollar
equivalent, determined as of such date in the manner provided as contemplated by Section
301, of the principal amount of such Security (or, in the case of a Security described in
clause (A) or (B) above, of the amount determined as provided in such clause), and (D)
Securities owned by the Company, any Subsidiary Guarantor or any other obligor upon the
Securities or any Affiliate of the Company, any Subsidiary Guarantor 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, waiver or other action, 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, a Subsidiary Guarantor or any other
obligor upon the Securities or any Affiliate of the Company, a Subsidiary Guarantor or of
such other obligor. 

5 

        “Paying
Agent” means any Person authorized by the Company to pay the principal of or any
premium or interest on any Securities on behalf of the Company. 

        “Payment
Blockage Period” has the meaning specified in Section 1204. 

        “Payment Default”
has the meaning specified in Section 1204. 

        “Person”
means any individual, corporation, partnership, joint venture, 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 any premium 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. 

        “Proceeding”
has the meaning specified in Section 1203. 

        “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. 

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

        “Securities
Act” means the Securities Act of 1933 and any statute successor thereto, in each case
as amended from time to time. 

        “Securities
Payment” has the meaning specified in Section 1203. 

6 

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

        “Senior
Debt” with respect to any series of Securities or any Subsidiary Guarantees shall
have the meaning specified as contemplated by Section 301. 

        “Senior
Nonmonetary Default” has the meaning specified in Section 1204. 

        “Significant
Subsidiary” means, at any date of determination, any Subsidiary that represents 10%
or more of the Company’s consolidated total assets at the end of the most recent
fiscal quarter for which financial information is available or 10% or more of the
Company’s consolidated net revenues or consolidated operating income for the most
recent four quarters for which financial information is available. 

        “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 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”
of any Person means (1) a corporation more than 50% of the combined voting power of the
outstanding Voting Stock of which is owned, directly or indirectly, by such Person or by
one or more other Subsidiaries of such Person or by such Person and one or more
Subsidiaries thereof or (2) any other Person (other than a corporation) in which such
Person, or one or more other Subsidiaries of such Person or such Person and one or more
other Subsidiaries thereof, directly or indirectly, has at least a majority ownership and
power to direct the policies, management and affairs thereof. 

        “Subsidiary
Guarantees” means the guarantees of each Subsidiary Guarantor as provided in Article
Thirteen. 

        “Subsidiary
Guarantors” means (i) the subsidiaries listed in Schedule I hereto; (ii) any
successor of the foregoing; and (iii) each other Subsidiary of the Company that becomes a
Subsidiary Guarantor in accordance with Section 1305 hereof, in each case until such
Subsidiary Guarantor ceases to be such in accordance with Section 1304 hereof. 

        “Successor
Company” has the meaning specified in Section 801. 

        “Successor Subsidiary
Guarantor” has the meaning specified in Section 802. 

        “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. 

        “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. 

7 

        “U.S.          Government
Obligation” has the meaning specified in Section 1504.  

        “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” of any Person means Capital Stock of such Person which ordinarily has voting
power for the election of directors (or persons performing similar functions) of such
Person, whether at all times or only so long as no senior class of securities has such
voting power by reason of any contingency. 

        “Wholly
Owned Subsidiary” of any Person means a Subsidiary of such Person all of the
outstanding Capital Stock or other ownership interests of which (other than
directors’ qualifying shares) shall at the time be owned by such Person or by one or
more Wholly Owned Subsidiaries of such Person or by such Person and one or more Wholly
Owned Subsidiaries of such Person. 

SECTION 102.     Compliance
Certificates and Opinions. 

        Upon
any application or request by the Company or any Subsidiary Guarantor to the Trustee to
take any action under any provision of this Indenture, the Company and/or such Subsidiary
Guarantor, as appropriate, shall furnish to the Trustee such certificates and opinions as
may be required under the Trust Indenture Act. Each such certificate or opinion shall be
given in the form of an Officers’ Certificate, if to be given by an officer of the
Company or a Subsidiary Guarantor, or an Opinion of Counsel, if to be given by counsel,
and shall comply with the requirements of the Trust Indenture Act and any other
requirements set forth in this Indenture. 

        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.  

8 

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

        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; Record Dates. 

        Whenever
in this Indenture it is provided that the Holders of a specified percentage in aggregate
principal amount of the Securities of any or all series may take action (including the
making of any demand or request, the giving of any direction, notice, consent or waiver or
the taking of any other action) the fact that at the time of taking any such action the
Holders of such specified percentage have joined therein may be evidenced (a) by any
instrument or any number of instruments of similar tenor executed by Holders in person or
by agent or proxy appointed in writing, (b) by the record of the Holders voting in favor
thereof at any meeting of Holders duly called and held in accordance with procedures
approved by the Trustee, (c) by a combination of such instrument or instruments and any
such record of such a meeting of Holders or (d) in the case of Securities evidenced by a
Global Security, by any electronic transmission or other message, whether or not in
written format, that complies with the Depositary’s applicable procedures. Such
evidence (and the action embodied therein and evidenced thereby) are herein sometimes
referred to as the “Act” of the relevant Holders. Proof of execution of any such
instrument or of a writing appointing any such agent or proxy 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. 

        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
that the Trustee deems sufficient. 

9 

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

        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. 

        The
Company may set any day as a record date for the purpose of determining the Holders of
Outstanding Securities of any series entitled to give, make or take any request, demand,
authorization, direction, notice, consent, waiver or other action provided or permitted by
this Indenture to be given, made or taken by Holders of Securities of such series,
provided that the Company may not set a record date for, and the provisions of this
paragraph shall not apply with respect to, the giving or making of any notice,
declaration, request or direction referred to in the next paragraph. If any record date is
set pursuant to this paragraph, the Holders of Outstanding Securities of the relevant
series on such record date, and no other Holders, shall be entitled to take the relevant
action, whether or not such Holders remain Holders after such record date; provided that
no such action shall be effective hereunder unless taken on or prior to the applicable
Expiration Date by Holders of the requisite principal amount of Outstanding Securities of
such series on such record date. Nothing in this paragraph shall be construed to prevent
the Company from setting a new record date for any action for which a record date has
previously been set pursuant to this paragraph (whereupon the record date previously set
shall automatically and with no action by any Person be cancelled and of no effect), and
nothing in this paragraph shall be construed to render ineffective any action taken by
Holders of the requisite principal amount of Outstanding Securities of the relevant series
on the date such action is taken. Promptly after any record date is set pursuant to this
paragraph, the Company, at its own expense, shall cause notice of such record date, the
proposed action by Holders and the applicable Expiration Date to be given to the Trustee
in writing and to each Holder of Securities of the relevant series in the manner set forth
in Section 106. 

        The
Trustee may set any day as a record date for the purpose of determining the Holders of
Outstanding Securities of any series entitled to join in the giving or making of (i) any
Notice of Default, (ii) any declaration of acceleration referred to in Section 502, (iii)
any request to institute proceedings referred to in Section 507(2) or (iv) any direction
referred to in Section 512, in each case with respect to Securities of such series. If any
record date is set pursuant to this paragraph, the Holders of Outstanding Securities of
such series on such record date, and no other Holders, shall be entitled to join in such
notice, declaration, request or direction, whether or not such Holders remain Holders
after such record date; provided that no such action shall be effective hereunder unless
taken on or prior to the applicable Expiration Date by Holders of the requisite principal
amount of Outstanding Securities of such series on such record date. Nothing in this
paragraph shall be construed to prevent the Trustee from setting a new record date for any
action for which a record date has previously been set pursuant to this paragraph
(whereupon the record date previously set shall automatically and with no action by any
Person be cancelled and of no effect), and nothing in this paragraph shall be construed to
render ineffective any action taken by Holders of the requisite principal amount of
Outstanding Securities of the relevant series on the date such action is taken. Promptly
after any record date is set pursuant to this paragraph, the Trustee, at the
Company’s expense, shall cause notice of such record date, the proposed action by
Holders and the applicable Expiration Date to be given to the Company in writing and to
each Holder of Securities of the relevant series in the manner set forth in Section 106. 

10 

        With
respect to any record date set pursuant to this Section, the party hereto which sets such
record dates may designate any day as the “Expiration Date” and from time to
time may change the Expiration Date to any earlier or later day; provided that no such
change shall be effective unless notice of the proposed new Expiration Date is given to
the other party hereto in writing, and to each Holder of Securities of the relevant series
in the manner set forth in Section 106, on or prior to the existing Expiration Date. If an
Expiration Date is not designated with respect to any record date set pursuant to this
Section, the party hereto which set such record date shall be deemed to have initially
designated the 180th day after such record date as the Expiration Date with respect
thereto, subject to its right to change the Expiration Date as provided in this paragraph.
Notwithstanding the foregoing, no Expiration Date shall be later than the 180th day after
the applicable record date. 

        Without
limiting the foregoing, a Holder entitled hereunder to take any action hereunder with
regard to any particular Security may do so with regard to all or any part of the
principal amount of such Security or by one or more duly appointed agents each of which
may do so pursuant to such appointment with regard to all or any part of such principal
amount. 

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 or any Subsidiary Guarantor shall be
          sufficient for every purpose hereunder if made, given, furnished or filed in
          writing in the English language to or with the Trustee at its Corporate Trust
          Office, Attention: Corporate Trust Department; or  

	 	        (2)          the
Company or any Subsidiary Guarantor by the Trustee or by any Holder shall be
          sufficient for every purpose hereunder (unless otherwise herein expressly
          provided) if in writing in the English language and mailed, first-class postage
          prepaid, in the case of the Company addressed to it at the address of its
          principal office specified in the first paragraph of this instrument,
Attention:           Chief Financial Officer, or at any other address previously
furnished in writing           to the Trustee by the Company and, in the case of any
Subsidiary Guarantor, to           it at the address of the Company’s principal
office specified in the first           paragraph of this instrument, Attention: Chief
Financial Officer, or at any           other address previously furnished in writing to
the Trustee by such Subsidiary           Guarantor.  

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 (if any), and not earlier
than the earliest date (if any), 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 a provision of the Trust
Indenture Act which is required under such Act to be a 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 which 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 and any Subsidiary Guarantor
shall bind its successors and assigns, whether so expressed or not. 

SECTION 110.     Separability Clause. 

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

SECTION 111.     Benefits of
Indenture. 

        Nothing
in this Indenture, the Securities or the Subsidiary Guarantees, express or implied, shall
give to any Person, other than the parties hereto and their successors hereunder, the
holders of Senior Debt and the Holders, any benefit or any legal or equitable right,
remedy or claim under this Indenture. 

12 

SECTION 112.     Governing
Law. 

        This
Indenture, the Securities and the Subsidiary Guarantees shall be governed by and construed
in accordance with the law of the State of New York. 

SECTION 113.     Legal
Holidays. 

        In
any case where any Interest Payment Date, Redemption Date, purchase 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 (other than a
provision of any Security which specifically states that such provision shall apply in
lieu of this Section)) 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, Redemption Date or purchase date, or at the Stated Maturity. 

ARTICLE TWO 
SECURITY
FORMS  

SECTION 201.     Forms
Generally. 

        The
Securities of each series and, if applicable, the Subsidiary Guarantees to be endorsed
thereon 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 Depositary therefor or as may, consistently herewith, be determined by the
officers executing such Securities or Subsidiary Guarantees, as the case may be, as
evidenced by their execution thereof. 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 Corporate Secretary or an Assistant
Corporate 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
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. 

[Insert any legend required by the
Internal Revenue Code and the regulations thereunder.] 

13 

Gehl Company 

______________________________________ 

	No.__________	$________ 

        Gehl
Company, a corporation duly organized and existing under the laws of Wisconsin (herein
called the “Company,” which term includes any successor Person 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, until the principal hereof is paid or made available for payment,
provided that any principal and premium, and any such installment of interest, which is
overdue shall bear interest at the rate of ____% per annum (to the extent that the payment
of such interest shall be legally enforceable), from the dates such amounts are due until
they are paid or made available for payment, and such interest shall be payable on demand.
The interest so payable, and promptly 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 promptly 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 and any overdue premium shall bear interest at the rate of ____% per
annum (to the extent that the payment of such interest shall be legally enforceable), from
the dates such amounts are due until they are paid or made available for payment. Interest
on any overdue principal or premium shall be payable on demand. Any such interest on
overdue principal or premium which is not paid on demand shall bear interest at the rate
of ______% per annum (to the extent that the payment of such interest on interest shall be
legally enforceable), from the date of such demand until the amount so demanded is paid or
made available for payment. Interest on any overdue interest shall be payable on demand.] 

14 

        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 ____________, 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 debts;
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. 

		
	Dated:	Gehl Company
	
Attest:______________________________________	By:______________________________________

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 _________, 200__ (herein called the “Indenture”, which term shall
have the meaning assigned to it in such instrument), among the Company, the Subsidiary
Guarantors named therein and _________________, as Trustee (herein called the
“Trustee”, which term includes any successor trustee under the Indenture), and
reference is hereby made to the Indenture for a statement of the respective rights,
limitations of rights, duties and immunities thereunder of the Company, the Subsidiary
Guarantors, the Trustee, the holders of Senior Debt 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 [if applicable, insert
— , 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 [if applicable, insert — on or after
__________, 20__], 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 [if
applicable, insert — on or before _______________, ___%, and if redeemed] during the
12-month period beginning _____________ of the years indicated, 

				
		Redemption		Redemption
	Year	Price	Year	Price

15 

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 [if applicable, insert — 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, 

			
		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 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 — Notwithstanding the foregoing, the Company may not, prior to
_____________, redeem any Securities of this series as contemplated by [if applicable,
insert — 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.] 

        [If
applicable, insert — The sinking fund for this series provides for the redemption on
____________ in each year beginning with the year _______ and ending with the year ______
of [if applicable, insert — 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 [if applicable, insert — mandatory] sinking fund payments may be credited
against subsequent [if applicable, insert — mandatory] sinking fund payments
otherwise required to be made [if applicable, insert — , in the inverse order in
which they become due].] 

16 

        [If
the Security is subject to redemption of any kind, insert — In the event of
redemption of this Security in part only, a new Security or Securities of this series and
of like tenor for the unredeemed portion hereof will be issued in the name of the Holder
hereof upon the cancellation hereof.] 

        [If
the Security is subject to conversion, insert — Subject to the provisions of the
Indenture, each Holder has the right to convert the principal amount of this Security into
fully paid and nonassessable shares of Common Stock of the Company at the initial
conversion price per share of Common Stock of $_____ (or $_____ in principal amount of
Securities for each such share of Common Stock), or at the adjusted conversion price then
in effect, if adjustment has been made as provided in the Indenture, upon surrender of the
Security to the Conversion Agent, together with a fully executed notice in substantially
the form attached hereto and, if required by the Indenture, an amount equal to accrued
interest payable on this Security.] 

        The
indebtedness evidenced by this Security is, to the extent provided in the Indenture,
subordinate and subject in right of payment to the prior payment in full of all Senior
Debt of the Company, 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, (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 and (c) appoints the Trustee his attorney-in-fact for any and
all such purposes. 

        [If
applicable, insert — As provided in the Indenture and subject to certain limitations
therein set forth, the obligations of the Company under this Security are guaranteed on a
senior subordinated basis pursuant to the Subsidiary Guarantees endorsed hereon. The
Indenture provides that a Subsidiary Guarantor shall be released from its Subsidiary
Guarantee upon compliance with certain conditions.] 

        [If
applicable, insert — The Indenture contains provisions for Defeasance at any time of
[the entire indebtedness of this Security] [or] [certain restrictive covenants and Events
of Default with respect to this Security] [, in each case] upon compliance with certain
conditions set forth in the Indenture.] 

        [If
the Security is not an Original Issue Discount Security, insert — 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, insert — 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, premium and
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 premium and interest, if any, on the Securities of this series shall
terminate.] 

17 

        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 a majority 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 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. 

        As
provided in and subject to the provisions of the Indenture, the Holder of this Security
shall not have the right to institute any proceeding with respect to the Indenture or for
the appointment of a receiver or trustee or for any other remedy thereunder, unless such
Holder shall have previously given the Trustee written notice of a continuing Event of
Default with respect to the Securities of this series, the Holders of not less than 25% in
principal amount of the Securities of this series at the time Outstanding shall have made
written request to the Trustee to institute proceedings in respect of such Event of
Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not
have received from the Holders of a majority in principal amount of Securities of this
series at the time Outstanding a direction inconsistent with such request, and shall have
failed to institute any such proceeding, for 60 days after receipt of such notice, request
and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder
of this Security for the enforcement of any payment of principal hereof or any premium or
interest hereon on or after the respective due dates expressed herein. 

18 

        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 any premium 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 any premium 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 and of
like tenor, 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 and of
like tenor 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
Subsidiary Guarantee. 

SUBSIDIARY GUARANTEE 

        For
value received, each of the Subsidiary Guarantors named (or deemed herein to be named)
below hereby jointly and severally fully and unconditionally guarantees to the Holder of
the Security upon which this Subsidiary Guarantee is endorsed, and to the Trustee on
behalf of such Holder, the due and prompt payment of the principal of (and premium, if
any) and interest on such Security when and as the same shall become due and payable,
whether at the Stated Maturity, by acceleration, call for redemption, offer to purchase or
otherwise, according to the terms thereof and of the Indenture referred to therein and to
cover all the rights of the Trustee under Section 607. In case of the failure of the
Company promptly to make any such payment, each of the Subsidiary Guarantors hereby
jointly and severally agrees to cause such payment to be made promptly when and as the
same shall become due and payable, whether at the Stated Maturity or by acceleration, call
for redemption, offer to purchase or otherwise, and as if such payment were made by the
Company. 

19 

        Each
of the Subsidiary Guarantors hereby jointly and severally agrees that its obligations
hereunder shall be absolute and unconditional, irrespective of, and shall be unaffected
by, the validity, regularity or enforceability of such Security or the Indenture, the
absence of any action to enforce the same or any release, amendment, waiver or indulgence
granted to the Company or any other guarantor, or any consent to departure from any
requirement of any other guarantee of all or of any of the Securities of this series, or
any other circumstances which might otherwise constitute a legal or equitable discharge or
defense of a surety or guarantor; provided, however, that, notwithstanding the foregoing,
no such release, amendment, waiver or indulgence shall, without the consent of such
Subsidiary Guarantor, increase the principal amount of such Security, or increase the
interest rate thereon, or alter the Stated Maturity thereof. Each of the Subsidiary
Guarantors hereby waives the benefits of diligence, presentment, demand of payment, any
requirement that the Trustee or any of the Holders protect, secure, perfect or insure any
security interest in or other lien on any property subject thereto or exhaust any right or
take any action against the Company or any other Person or any collateral, filing of
claims with a court in the event of insolvency or bankruptcy of the Company, any right to
require a proceeding first against the Company, protest or notice with respect to such
Security or the indebtedness evidenced thereby and all demands whatsoever, and covenants
that this Subsidiary Guarantee will not be discharged except by complete performance of
the obligations contained in such Security and in this Subsidiary Guarantee. Each
Subsidiary Guarantor agrees that if, after the occurrence and during the continuance of an
Event of Default with respect to Securities of this series, the Trustee or any of the
Holders are prevented by applicable law from exercising their respective rights to
accelerate the maturity of the Securities of this series, to collect interest on the
Securities of this series, or to enforce or exercise any other right or remedy with
respect to the Securities of this series, such Subsidiary Guarantor agrees to pay to the
Trustee for the account of the Holders, upon demand therefor, the amount that would
otherwise have been due and payable had such rights and remedies been permitted to be
exercised by the Trustee or any of the Holders. 

        The
indebtedness of each Subsidiary Guarantor evidenced by this Subsidiary Guarantee is, to
the extent provided in the Indenture, subordinate in right of payment to the prior payment
in full of all Senior Debt of such Subsidiary Guarantor, and the Subsidiary Guarantee of
each Subsidiary Guarantor is issued subject to the provisions of the Indenture with
respect thereto. 

        No
reference herein to the Indenture and no provision of this Subsidiary Guarantee or of the
Indenture shall alter or impair the Subsidiary Guarantee of any Subsidiary Guarantor,
which is absolute and unconditional, of the due and prompt payment of the principal (and
premium, if any) and interest on the Security upon which this Subsidiary Guarantee is
endorsed. 

        Each
Subsidiary Guarantor shall be subrogated to all rights of the Holder of this Security
against the Company in respect of any amounts paid by such Subsidiary Guarantor on account
of this Security pursuant to the provisions of its Subsidiary Guarantee or the Indenture;
provided, however, that such Subsidiary Guarantor shall not be entitled to enforce or to
receive any payments arising out of, or based upon, such right of subrogation until the
principal of (and premium, if any) and interest on this Security and all other Securities
of this series issued under the Indenture shall have been paid in full. 

        This
Subsidiary Guarantee shall remain in full force and effect and continue to be effective
should any petition be filed by or against the Company for liquidation or reorganization,
should the Company become insolvent or make an assignment for the benefit of creditors or
should a receiver or trustee be appointed for all or any part of the Company’s
assets, and shall, to the fullest extent permitted by law, continue to be effective or be
reinstated, as the case may be, if at any time payment and performance of the Securities
of this series is, pursuant to applicable law, rescinded or reduced in amount, or must
otherwise be restored or returned by any Holder of the Securities of this series, whether
as a “voidable preference,” “fraudulent transfer,” or otherwise, all
as though such payment or performance had not been made. In the event that any payment, or
any part thereof, is rescinded, reduced, restored or returned, the Securities of this
series shall, to the fullest extent permitted by law, be reinstated and deemed reduced
only by such amount paid and not so rescinded, reduced, restored or returned. 

20 

        The
Subsidiary Guarantors or any particular Subsidiary Guarantor shall be released from this
Subsidiary Guarantee upon the terms and subject to certain conditions provided in the
Indenture. 

        By
delivery to the Trustee of a supplement to the Indenture referred to in the Security upon
which this Subsidiary Guarantee is endorsed in accordance with the terms of the Indenture,
each Person that becomes a Subsidiary Guarantor after the date of first issuance of the
Securities of this series will be deemed to have executed and delivered this Subsidiary
Guarantee for the benefit of the Holder of the Security upon which this Subsidiary
Guarantee is endorsed with the same effect as if such Subsidiary Guarantor was named below
and has executed and delivered this Subsidiary Guarantee. 

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

        This
Subsidiary Guarantee shall not be valid or obligatory for any purpose until the
certificate of authentication on the Security upon which this Subsidiary Guarantee is
endorsed shall have been executed by the Trustee under the Indenture by manual signature. 

        Reference
is made to the Indenture for further provisions with respect to this Subsidiary Guarantee. 

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

        IN
WITNESS WHEREOF, each of the Subsidiary Guarantors has caused this Subsidiary Guarantee to
be duly executed. 

		
		[Insert Names of Subsidiary Guarantors]
	

Attest:	By:__________________________________________
		Title:
	__________________________________________	

SECTION 205.     Form
of Legend for Global Securities. 

        Unless
otherwise specified as contemplated by Section 301 for the Securities evidenced thereby,
every Global Security authenticated and delivered hereunder shall bear a legend in
substantially the following form: 

21 

	 	
THIS
SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO
AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT
BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS
SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH
DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE
INDENTURE. 

SECTION 206.     Form
of Trustee's Certificate of Authentication. 

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

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

		
		___________________, As Trustee
	
 	By:___________________________________
		        Authorized Officer

SECTION 207.     Form of
Conversion Notice. 

        Each
convertible Security shall have attached thereto, or set forth on the reverse of the
Security, a notice of conversion in substantially the following form: 

Conversion Notice 

To: Gehl Company 

        The
undersigned owner of this Security hereby: (i) irrevocably exercises the option to convert
this Security, or the portion hereof below designated, for [shares of Common stock]
[insert other securities] of Gehl Company in accordance with the terms of the Indenture
referred to in this Security and (ii) directs that such [shares of Common Stock] [insert
other securities] deliverable upon the conversion, together with any check in payment for
fractional shares and any Security(ies) representing any unconverted principal amount
hereof, be issued and delivered to the registered holder hereof unless a different name
has been indicated below. If shares are to be delivered registered in the name of a person
other than the undersigned, the undersigned will pay all transfer taxes payable with
respect thereto. Any amount required to be paid by the undersigned on account of interest
accompanies this Security. 

		
	Dated:______________________________________	______________________________________
		Signature

22 

        Fill
in for registration of shares if to be delivered, and of Securities if to be issued,
otherwise than to and in the name of the registered holder. 

		
	______________________________________	______________________________________
	(Name)	Social Security or other
		Taxpayer Identification Number

______________________________________
(Please print name and address) 

        Principal
amount to be converted:  (if less than all) $___________ 

Signature Guarantee*
______________________________________ 

*Participant in a recognized
Signature Guarantee Medallion Program (or other signature acceptable to the Trustee). 

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, subject to Section 303, set forth, or determined in the manner
provided, 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 Securities of any other series);  

	 	        (2)          if
the Securities of the series will not have the benefit of the Subsidiary
          Guarantees of the Subsidiary Guarantors;  

	 	        (3)          any
change to the subordination provisions which applies to the Securities of           the
series from those contained in Article Twelve with respect to the Securities
          and/or, if applicable, those contained in Article Fourteen with respect to the
          Subsidiary Guarantees, and the definitions of Senior Debt and Designated Senior
          Debt which shall apply to the Securities of the series, and, if applicable, the
          Subsidiary Guarantees;  

	 	        (4)          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 and except for any Securities which, pursuant to           Section
303, are deemed never to have been authenticated and delivered           hereunder);  

23 

	 	        (5)          the
Person to whom any interest on a Security of the series shall be payable, if
          other than 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;  

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

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

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

	 	        (9)          the
period or periods within which, the price or prices at which and the terms           and
conditions upon which any Securities of the series may be redeemed, in whole           or
in part, at the option of the Company and, if other than by a Board           Resolution,
the manner in which any election by the Company to redeem the           Securities shall
be evidenced;  

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

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

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

	 	        (13)          if
other than the currency of the United States of America, the currency,
          currencies or currency units in which the principal of or any premium or
          interest on any Securities of the series shall be payable and the manner of
          determining the equivalent thereof in the currency of the United States of
          America for any purpose, including for purposes of the definition of
          “Outstanding” in Section 101;  

	 	        (14)          if
the principal of or any premium or interest on any Securities of the series           is
to be payable, at the election of the Company or the Holder thereof, in one           or
more currencies or currency units other than that or those in which such
          Securities are stated to be payable, the currency, currencies or currency units
          in which the principal of or any premium or interest on such Securities as to
          which such election is made shall be payable, the periods within which and the
          terms and conditions upon which such election is to be made and the amount so
          payable (or the manner in which such amount shall be determined);  

24 

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

	 	        (16)          if
the principal amount payable at the Stated Maturity of any Securities of the
          series will not be determinable as of any one or more dates prior to the Stated
          Maturity, the amount which shall be deemed to be the principal amount of such
          Securities as of any such date for any purpose thereunder or hereunder,
          including the principal amount thereof which shall be due and payable upon any
          Maturity other than the Stated Maturity or which shall be deemed to be
          Outstanding as of any date prior to the Stated Maturity (or, in any such case,
          the manner in which such amount deemed to be the principal amount shall be
          determined);  

	 	        (17)          if
applicable, that the Securities of the series, in whole or any specified           part,
shall be defeasible pursuant to Section 1502 or Section 1503 or both such
          Sections and, if other than by a Board Resolution, the manner in which any
          election by the Company to defease such Securities shall be evidenced;  

	 	        (18)          if
applicable, that any Securities of the series shall be issuable in whole or           in
part in the form of one or more Global Securities and, in such case, the
          respective Depositaries for such Global Securities, the form of any legend or
          legends which shall be borne by any such Global Security in addition to or in
          lieu of that set forth in Section 205 and any circumstances in addition to or
in           lieu of those set forth in clause (2) of the last paragraph of Section 305
in           which any such Global Security may be exchanged in whole or in part for
          Securities registered, and any transfer of such Global Security in whole or in
          part may be registered, in the name or names of Persons other than the
          Depositary for such Global Security or a nominee thereof;  

	 	        (19)          any
addition to or change in the Events of Default which applies to any           Securities
of the series and any change in the right of the Trustee or the           requisite
Holders of such Securities to declare the principal amount thereof due           and
payable pursuant to Section 502;  

	 	        (20)          any
addition to or change in the covenants set forth in Article Ten which           applies
to Securities of the series;  

	 	        (21)          whether
the Securities of the series will be convertible into Common Stock or           other
securities of the Company (or cash in lieu thereof) and, if so, the terms           and
conditions upon which such conversion will be effected; and  

	 	        (22)          any
other terms of the series (which terms shall not be inconsistent with the
          provisions of this Indenture, except as permitted by Section 901(5)).  

25 

        All
Securities of any one series shall be substantially identical except as to denomination
and except as may otherwise be provided in or pursuant to the Board Resolution referred to
above and (subject to Section 303) set forth, or determined in the manner provided, in the
Officers’ Certificate referred to above or in any such indenture supplemental hereto. 

        If
any of the terms of the series are established by action taken pursuant to a Board
Resolution, a copy of an appropriate record of such action shall be certified by the
Corporate Secretary or an Assistant Corporate 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 of each series shall have the benefit of the Subsidiary Guarantees unless the
Company elects otherwise upon the establishment of a series pursuant to this Section 301. 

        The
Securities shall be subordinated in right of payment to Senior Debt of the Company as
provided in Article Twelve. Each Subsidiary Guarantee shall be subordinated in right of
payment to Senior Debt of the applicable Subsidiary Guarantor as provided in Article
Fourteen. 

SECTION 302.     Denominations. 

        The
Securities of each series shall be issuable only in registered form without coupons and
only in such denominations as shall be specified as contemplated by Section 301. In the
absence of any such specified denomination 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 of
Directors, its Chief Executive Officer, its President, its Chief Financial Officer or one
of its Vice Presidents. The Securities shall be attested by the Company’s Corporate
Secretary, one of its Assistant Corporate Secretaries, its Treasurer or one of its
Assistant Treasurers. 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 and, if applicable,
having endorsed thereon the Subsidiary Guarantees executed as provided in Section 1303 by
the Subsidiary Guarantors 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 by 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, 

26 

	 	        (1)          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;  

	 	        (2)          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  

	 	        (3)          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, and, if applicable, the Subsidiary Guarantees endorsed thereon
will           constitute valid and legally binding obligations of the Subsidiary
Guarantors,           enforceable in accordance with their terms, subject to bankruptcy,
insolvency,           fraudulent transfer, reorganization, moratorium and similar laws of
general           applicability relating to or affecting 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. 

        Notwithstanding
the provisions of Section 301 and of the preceding paragraph, if all Securities of a
series are not to be originally issued at one time, it shall not be necessary to deliver
the Officers’ Certificate otherwise required pursuant to Section 301 or the Company
Order and Opinion of Counsel otherwise required pursuant to such preceding paragraph at or
prior to the authentication of each Security of such series if such documents are
delivered at or prior to the authentication upon original issuance of the first Security
of such series to be issued. 

        Each
Security shall be dated the date of its authentication. 

        No
Security or Subsidiary Guarantee endorsed thereon 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. Notwithstanding the foregoing, if any Security
shall have been authenticated and delivered hereunder but never issued and sold by the
Company, and the Company shall deliver such Security to the Trustee for cancellation as
provided in Section 309, for all purposes of this Indenture such Security shall be deemed
never to have been authenticated and delivered hereunder and shall never be entitled to
the benefits of this Indenture. 

27 

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 and, if applicable,
having endorsed thereon the Subsidiary Guarantees in lieu of which they are issued and
with such appropriate insertions, omissions, substitutions and other variations as the
officers executing such Securities and, if applicable, Subsidiary Guarantees may
determine, as evidenced by their execution of such Securities and Subsidiary Guarantees. 

        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 one or more definitive Securities of the
same series, of any authorized denominations and of like tenor and aggregate principal
amount and, if applicable, having endorsed thereon Subsidiary Guarantees executed by the
Subsidiary Guarantors. 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 and tenor. 

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 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 a series at the office or agency
of the Company in a Place of Payment for that series, the Company shall execute, if
applicable the Subsidiary Guarantors shall execute the Subsidiary Guarantees endorsed
thereon 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 like tenor and 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 like tenor and 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, if applicable the Subsidiary Guarantors shall execute the Subsidiary Guarantees
endorsed thereon, and the Trustee shall authenticate and deliver, the Securities which the
Holder making the exchange is entitled to receive. 

28 

        All
Securities and, if applicable, the Subsidiary Guarantees endorsed thereon issued upon any
registration of transfer or exchange of Securities shall be the valid obligations of the
Company and, if applicable, the respective Subsidiary Guarantors, evidencing the same
debt, and entitled to the same benefits under this Indenture, as the Securities and
Subsidiaries Guarantees 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 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, 1107 or
otherwise not involving any transfer. 

        If
the Securities of any series (or of any series and specified tenor) are to be redeemed in
part, the Company shall not be required (A) to issue, register the transfer of or exchange
any Securities of that series (or of that series and specified tenor, as the case may be)
during a period beginning at the opening of business 15 days before the day of the mailing
of a notice of redemption of any such Securities selected for redemption under Section
1103 and ending at the close of business on the day of such mailing, or (B) 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. 

        The
provisions of clauses (1), (2), (3) and (4) below shall apply only to Global Securities: 

	 	        (1)          Each
Global Security authenticated under this Indenture shall be registered in           the
name of the Depositary designated for such Global Security or a nominee           thereof
and delivered to such Depositary or a nominee thereof or custodian           therefor,
and each such Global Security shall constitute a single Security for           all
purposes of this Indenture.  

	 	        (2)          Notwithstanding
any other provision in this Indenture, no Global Security may be           exchanged in
whole or in part for Securities registered, and no transfer of a           Global
Security in whole or in part may be registered, in the name of any Person           other
than the Depositary for such Global Security or a nominee thereof unless           (A)
such Depositary (i) has notified the Company that it is unwilling or unable           to
continue as Depositary for such Global Security or (ii) has ceased to be a
          clearing agency registered under the Exchange Act, and in either case the
          Company fails to appoint a successor Depositary within 90 days, (B) there shall
          have occurred and be continuing an Event of Default with respect to such Global
          Security and the Depositary shall have notified the Trustee of its decision to
          exchange such Global Security for Securities in certificated form or (C) there
          shall exist such circumstances, if any, in addition to or in lieu of the
          foregoing as have been specified for this purpose as contemplated by Section
          301.  

29 

	 	        (3)          Subject
to clause (2) above, any exchange of a Global Security for other           Securities may
be made in whole or in part, and all Securities issued in           exchange for a Global
Security or any portion thereof shall be registered in           such names as the
Depositary for such Global Security shall direct.  

	 	        (4)          Every
Security authenticated and delivered upon registration of transfer of, or           in
exchange for or in lieu of, a Global Security or any portion thereof, whether
          pursuant to this Section, Section 304, 306, 906 or 1107 or otherwise, shall be
          authenticated and delivered in the form of, and shall be, a Global Security,
          unless such Security is registered in the name of a Person other than the
          Depositary for such Global Security or a nominee thereof.  

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

        If
any mutilated Security is surrendered to the Trustee, the Company shall execute, if
applicable the Subsidiary Guarantors shall execute the Subsidiary Guarantees endorsed
thereon, 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 from
any loss that any of them may suffer if a Security is replaced, 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, if applicable the Subsidiary Guarantors shall
execute the Subsidiary Guarantees endorsed thereon, and 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 or is to be converted, the Company in its discretion may, instead
of issuing a new Security, pay or authorize the conversion of such Security (without
surrender thereof save in the case of a mutilated 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, and, if applicable, the Subsidiary Guarantees endorsed thereon, shall
constitute an original additional contractual obligation of the Company and, if
applicable, the respective Subsidiary Guarantors, 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. 

30 

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

SECTION 307.     Payment
of Interest; Interest Rights Preserved.  

        Except
as otherwise provided as contemplated by Section 301 with respect to any series of
Securities, interest on any Security which is payable, and is promptly 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 promptly 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 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 10
days after           the receipt by the Trustee of the notice of the proposed payment.
The Trustee           shall promptly notify the Company of such Special Record Date and,
in the name           and at the expense of the Company, shall cause notice of the
proposed payment of           such Defaulted Interest and the Special Record Date
therefor to be given to each           Holder of Securities of such series in the manner
set forth in Section 106, 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).  

31 

        (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 Subsidiary
Guarantors, the Trustee and any agent of the Company, the Subsidiary Guarantors, 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 any premium and
(subject to Section 307) any interest on such Security and for all other purposes
whatsoever, whether or not such Security be overdue, and neither the Company, any
Subsidiary Guarantor, the Trustee nor any agent of the Company, any Subsidiary Guarantor,
or the Trustee shall be affected by notice to the contrary. 

SECTION 309.     Cancellation. 

        All
Securities surrendered for payment, redemption, purchase, 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 may deliver to the Trustee (or to any other Person for delivery
to the Trustee) for cancellation any Securities previously authenticated hereunder which
the Company has not issued and sold, 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 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 360-day year
of twelve 30-day months. 

32 

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 the
Securities of any series, 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 of such series theretofore authenticated and delivered (other
               than (i) Securities of such series which have been destroyed, lost or
stolen and                which have been replaced or paid as provided in Section 306 and
(ii) Securities                of such series 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 of such series not theretofore delivered to the Trustee for
               cancellation  

	 	(i) 	have
become due and payable,  

	 	(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 or, if applicable, a Subsidiary Guarantor, in the case of (i), (ii) or (iii)
above, has irrevocably deposited or caused to be deposited with the Trustee as trust funds
in trust for the purpose money in an amount sufficient, without consideration of any
reinvestment of interest, to pay and discharge the entire indebtedness on such Securities
not theretofore delivered to the Trustee for cancellation, for principal and any premium
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 or a Subsidiary Guarantor has paid or caused to be paid all other           sums
payable hereunder by the Company and the Subsidiary Guarantors with respect           to
the Securities of such series; 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 with respect
to           the Securities of such series have been complied with.  

33 

        Notwithstanding
the satisfaction and discharge of this Indenture, the obligations of the Company to the
Trustee under Section 607, any surviving rights of conversion, 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 any premium
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 occasioned by the provisions of Article Twelve 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): 

	 	        (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 any premium 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 of the Company or, if the
          Subsidiary Guarantors have issued Subsidiary Guarantees with respect to the
          Securities of such series, any Subsidiary Guarantor in Article Eight of this
          Indenture;  

	 	        (5)          default
in the performance, or breach, of any covenant or warranty of the           Company or,
if the Subsidiary Guarantors have issued Subsidiary Guarantees with           respect to
the Securities of such series, any Subsidiary Guarantor 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 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 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;  

34 

	 	        (6)          debt
of the Company, any Significant Subsidiary or, if the Subsidiary Guarantors
          have issued Subsidiary Guarantees with respect to the Securities of such
series,           any Subsidiary Guarantor is not paid within any applicable grace period
after           final maturity or is accelerated by the holders thereof because of a
default and           the total amount of such Indebtedness unpaid or accelerated exceeds
          $10.0 million, or its foreign currency equivalent at the time;  

	 	        (7)          any
judgment or decree for the payment of money in excess of $10.0 million or           its
foreign currency equivalent at the time it is entered against the Company,           any
Significant Subsidiary or, if the Subsidiary Guarantors have issued           Subsidiary
Guarantees with respect to the Securities of such series, any           Subsidiary
Guarantor, remains outstanding for a period of 60 consecutive days           following
the entry of such judgment or decree and is not discharged, waived or           the
execution thereof stayed;  

	 	        (8)          the
entry by a court having jurisdiction in the premises of (A) a decree or           order
for relief in respect of the Company, any Significant Subsidiary or, if           the
Subsidiary Guarantors have issued Subsidiary Guarantees with respect to the
          Securities of such series, any Subsidiary Guarantor 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, any Significant Subsidiary or any such Subsidiary Guarantor a bankrupt
          or insolvent, or approving as properly filed a petition seeking reorganization,
          arrangement, adjustment or composition of or in respect of the Company, any
          Significant Subsidiary or any such Subsidiary Guarantor under any applicable
          Federal or State law, or appointing a custodian, receiver, liquidator,
assignee,           trustee, sequestrator or other similar official of the Company, any
Significant           Subsidiary or any such Subsidiary Guarantor or of any substantial
part of its or           their property, or ordering the winding up or liquidation of its
or their           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;  

	 	        (9)          the
commencement by the Company, any Significant Subsidiary or, if the           Subsidiary
Guarantors have issued Subsidiary Guarantees with respect to the           Securities of
such series, any Subsidiary Guarantor 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 or them to the entry           of a decree or order for
relief in respect of the Company, any Significant           Subsidiary or any such
Subsidiary Guarantor 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 them, or the filing by it or them of a petition or           answer or consent
seeking reorganization or relief under any applicable Federal           or State law, or
the consent by it or them to the filing of such petition or to           the appointment
of or taking possession by a custodian, receiver, liquidator,           assignee,
trustee, sequestrator or other similar official of the Company, any           Significant
Subsidiary or any such Subsidiary Guarantor or of any substantial           part of its
or their property, or the making by it or them of an assignment for           the benefit
of creditors, or the admission by it or them in writing of its or           their
inability to pay its or their debts generally as they become due, or the           taking
of corporate action by the Company, any Significant Subsidiary or any           such
Subsidiary Guarantor in furtherance of any such action;  

35 

	 	        (10)          in
the event the Subsidiary Guarantors have issued Subsidiary Guarantees with
          respect to the Securities of such series, the Subsidiary Guarantee of any
          Subsidiary Guarantor is held by a final non-appealable order or judgment of a
          court of competent jurisdiction to be unenforceable or invalid or ceases for
any           reason to be in full force and effect (other than in accordance with the
terms           of this Indenture) or any Subsidiary Guarantor or any Person acting on
behalf of           any Subsidiary Guarantor denies or disaffirms such Subsidiary
Guarantor’s           obligations under its Subsidiary Guarantee (other than by
reason of a release of           such Subsidiary Guarantor from its Subsidiary Guarantee
in accordance with the           terms of this Indenture); or  

	 	        (11)          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 (other than an Event of Default with respect to the Company specified
in Section 501(8) or 501(9)) with respect to Securities of any series at the 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 that series may
declare the principal amount of all the Securities of that series (or, if any Securities
of that series are Original Issue Discount Securities, such portion of the principal
amount of such Securities as may be specified by the terms thereof) 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) shall
become immediately due and payable. If an Event of Default with respect to the Company
specified in Section 501(8) or 501(9) with respect to Securities of any series at the time
Outstanding occurs, the principal amount of all the Securities of that series (or, if any
Securities of that series are Original Issue Discount Securities, such portion of the
principal amount of such Securities as may be specified by the terms thereof) shall
automatically, and without any declaration or other action on the part of the Trustee or
any Holder, 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 

36 

	 	        (1)          the
Company or, if applicable, any Subsidiary Guarantor 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 any           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
          non-payment of the principal of Securities of that 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 any premium and interest and, to
the extent that payment of such interest shall be legally enforceable, interest on any
overdue principal and premium 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
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. 

37 

SECTION 504.     Trustee
May File Proofs of Claim.  

        In
case of any judicial proceeding relative to the Company, any Subsidiary Guarantor or any
other obligor upon the Securities, or the property or creditors of the Company, any
Subsidiary Guarantor or any other obligor upon the Securities, the Trustee 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 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. 

        No
provision of this Indenture 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 any Subsidiary
Guarantee 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; provided, however, that the
Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or
similar official and be a member of a creditors’ or other similar committee. 

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

        All
rights of action and claims under this Indenture or the Securities or any Subsidiary
Guarantee 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 any premium 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; 

	 	        SECOND: Subject
to Article Twelve and Article Fourteen, to the payment of the amounts then due and unpaid
for principal of and any premium 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 any premium and interest, respectively; and  

38 

	 	        THIRD:
  The balance, if any, to the Company or to such other Person as a court of competent
jurisdiction shall          direct. 

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 security or           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
          security or 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 Holders, 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 any
premium and (subject to Section 307) interest on such Security on the respective Stated
Maturities expressed in such Security (or, in the case of redemption or offer by the
Company to purchase the Securities pursuant to the terms of this Indenture, on the
Redemption Date or purchase date, as applicable) and, if applicable, to convert such
Security in accordance with its terms, and to institute suit for the enforcement of any
such right, and such rights shall not be impaired without the consent of such Holder. 

40 

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
Subsidiary Guarantors, 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 Securities 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.  

40 

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 any premium or interest on any Security of
          such series (including any Security which is required to have been purchased by
          the Company pursuant to an offer to purchase by the Company made pursuant to
the           terms of this Indenture), or  

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

        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. 

        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, a court
may require any party litigant in such suit to file an undertaking to pay the costs of
such suit, and may assess costs against any such party litigant, in the manner and to the
extent provided in the Trust Indenture Act; provided, however, that neither this Section
nor the Trust Indenture Act shall be deemed to authorize any court to require such an
undertaking or to make such an assessment in any suit instituted by the Company or any
Subsidiary Guarantor. 

SECTION 515.     Waiver
of Usury, Stay or Extension Laws. 

        Each
of the Company and the Subsidiary Guarantors 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 usury, 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 each of the Company and the Subsidiary Guarantors (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. 

41 

ARTICLE SIX 
THE
TRUSTEE  

SECTION 601.     Certain
Duties and Responsibilities. 

        The
duties and responsibilities of the Trustee shall be as expressly set forth in this
Indenture and as provided by the Trust Indenture Act. Notwithstanding the foregoing, 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. 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. 

        If
a default occurs hereunder with respect to Securities of any series, the Trustee shall
give the Holders of Securities of such series notice of such default as and to the extent
provided by the Trust Indenture Act; provided, however, that in the case of any default of
the character specified in Section 501(5) 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: 

	 	        (1)          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, 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;  

	 	        (2)          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 shall be sufficiently evidenced by a Board Resolution;  

	 	        (3)          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;  

	 	        (4)          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;  

42 

	 	        (5)          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;  

	 	        (6)          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  

	 	        (7)          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 and the Subsidiary Guarantees, except the
Trustee’s certificates of authentication, shall be taken as the statements of the
Company or the Subsidiary Guarantors, as the case may be, and neither the Trustee nor any
Authenticating Agent assumes any responsibility for their correctness. The Trustee makes
no representations as to the validity or sufficiency of this Indenture or of the
Securities or the Subsidiary Guarantees endorsed thereon. 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 or any Subsidiary Guarantor, 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 and any Subsidiary Guarantor 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 or any
Subsidiary Guarantor, as the case may be. 

43 

SECTION 607.     Compensation
and Reimbursement.  

        The
Company and each Subsidiary Guarantor jointly and severally agree 

	 	        (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, 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 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.  

SECTION 608.     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. To the extent permitted by such Act, the Trustee shall not be deemed
to have a conflicting interest by virtue of being a trustee under this Indenture with
respect to Securities of more than one series. 

SECTION 609.     Corporate
Trustee Required; Eligibility.  

        There
shall at all times be one (and only one) Trustee hereunder with respect to the Securities
of each series, which may be Trustee hereunder for Securities of one or more other series.
Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act
as such, and has a combined capital and surplus of at least $50,000,000. If any such
Person publishes reports of condition at least annually, pursuant to law or to the
requirements of its supervising or examining authority, then for the purposes of this
Section and to the extent permitted by the Trust Indenture Act, the combined capital and
surplus of such Person 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 with
respect to the Securities of any series 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. 

44 

SECTION 610.     Resignation and Removal; Appointment of Successor. 

        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. 

        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. 

        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. 

        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,  

	 	        (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, (A) the
Company by a Board Resolution may remove the Trustee with respect to all Securities, or
(B) 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. 

        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 others similarly situated, petition
any court of competent jurisdiction for the appointment of a successor Trustee with
respect to the Securities of such series. 

45 

        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 to all Holders of Securities of such series in the manner
provided in Section 106. 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. 

        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, the Subsidiary Guarantors 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. 

        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 Subsidiary Guarantors, 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 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. 

46 

        Upon
request of any such successor Trustee, the Company and the Subsidiary Guarantors 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 the first or
second preceding paragraph, as the case may be. 

        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
Person into which the Trustee may be merged or converted or with which it may be
consolidated, or any Person resulting from any merger, conversion or consolidation to
which the Trustee shall be a party, or any Person succeeding to all or substantially all
the corporate trust business of the Trustee, shall be the successor of the Trustee
hereunder, provided such Person 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. As soon as practicable, the successor Trustee shall mail a
notice of its succession to the Company and the Holders of the Securities then
Outstanding. 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 and Subsidiary Guarantors.  

        If
and when the Trustee shall be or become a creditor of the Company, any Subsidiary
Guarantor or any other obligor upon the Securities, the Trustee shall be subject to the
provisions of the Trust Indenture Act regarding the collection of claims against the
Company, such Subsidiary Guarantor or any such other obligor. 

SECTION 614.     Appointment
of Authenticating Agent. 

        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 original issue and upon exchange, registration of
transfer, conversion or partial 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 Person 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. 

47 

        Any
Person into which an Authenticating Agent may be merged or converted or with which it may
be consolidated, or any Person resulting from any merger, conversion or consolidation to
which such Authenticating Agent shall be a party, or any Person succeeding to the
corporate agency or corporate trust business of an Authenticating Agent, shall continue to
be an Authenticating Agent, provided such Person 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 give notice of such appointment in the
manner provided in Section 106 to all Holders of Securities of the series with respect to
which such Authenticating Agent will serve. 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 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. 

48 

		______________________________________,
		        As Trustee
	
 	By:______________________________________
		        As Authenticating Agent
	
 	By:______________________________________
		        Authorized Officer

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 with respect to the
Securities of each series: 

	 	        (1)          not
more than 10 days after each record date with respect to the payment of
          interest, if any, a list, in such form as the Trustee may reasonably require,
of           the names and addresses of the Holders of Securities of such series as of
such           record date, and  

	 	        (2)          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.  

        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. 

        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. 

        Every
Holder of Securities, by receiving and holding the same, agrees with the Company and the
Trustee that neither the Company, the Subsidiary Guarantors nor the Trustee nor any agent
of any of them shall be held accountable by reason of any disclosure of information as to
names and addresses of Holders made pursuant to the Trust Indenture Act. 

49 

SECTION 703.     Reports by
Trustee. 

        The
Trustee shall transmit to Holders such 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. 

        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 and with the Subsidiary Guarantors. The Company will
notify the Trustee when any Securities are listed on any stock exchange. 

SECTION 704.     Reports
by Company and Subsidiary Guarantors.  

        The
Company and each of the Subsidiary Guarantors 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 at the
times and in the manner provided pursuant to such 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 Exchange Act 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, in a single transaction or a series of related transactions,
consolidate with or merge into any other Person or permit any other Person to consolidate
with or merge into the Company or, directly or indirectly, transfer, convey, sell, lease
or otherwise dispose of all or substantially all of its assets, unless: 

	 	        (1)          in
a transaction in which the Company does not survive or in which the Company
          transfers, conveys, sells, leases or otherwise disposes of all or substantially
          all of its assets, the successor entity (a “Successor Company”) shall
          be a corporation, partnership, trust or other entity organized and validly
          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 prompt payment of the principal of and
any premium           and interest on all the Securities and the performance or
observance of every           covenant of this Indenture on the part of the Company to be
performed or           observed;  

	 	        (2)          immediately
after giving pro forma effect to such transaction and treating any           indebtedness
which becomes an obligation of the Company or any 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;  

50 

	 	        (3)          if,
as a result of any such consolidation or merger or such transfer,           conveyance,
sale, lease or other disposition, properties or assets of the           Company would
become subject to a mortgage, pledge, lien, security interest or           other
encumbrance which would not be permitted by this Indenture, the Company or           the
Successor Company, as the case may be, shall take such steps as shall be
          necessary effectively to secure the Securities equally and ratably with (or
          prior to) all indebtedness secured thereby;  

	 	        (4)          any
other conditions provided pursuant to Section 301 with respect to the
          Securities of a series are satisfied; and  

	 	        (5)          the
Company has delivered to the Trustee an Officers’ Certificate and an
          Opinion of Counsel, each stating that such consolidation, merger, transfer,
          conveyance, sale, lease or other disposition and, if a supplemental indenture
is           required in connection with such transaction, such supplemental indenture
comply           with this Article and that all conditions precedent herein provided for
relating           to such transaction have been complied with.  

SECTION 802.     Subsidiary
Guarantors May Consolidate, Etc., Only on Certain Terms.  

        Except
in a transaction resulting in the release of a Subsidiary Guarantor in accordance with the
terms of this Indenture, each Subsidiary Guarantor shall not, and the Company shall not
permit any Subsidiary Guarantor to, in a single or a series of related transactions,
consolidate or merge with or into any Person (other than the Company or another Subsidiary
Guarantor) or permit any Person (other than another Subsidiary Guarantor) to consolidate
or merge with or into such Subsidiary Guarantor or, directly or indirectly, transfer,
convey, sell, lease or otherwise dispose of all or substantially all of its assets unless,
in each case: 

	 	        (1)          in
a transaction in which such Subsidiary Guarantor does not survive or in which
          all or substantially all of the assets of such Subsidiary Guarantor are
          transferred, conveyed, sold, leased or otherwise disposed of, the successor
          entity (the “Successor Subsidiary Guarantor”) shall be a corporation,
          partnership, trust or other entity organized and validly 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           prompt payment of all obligations of such Subsidiary Guarantor under
its           Subsidiary Guarantee and this Indenture and the performance of every
covenant of           this Indenture on the part of such Subsidiary Guarantor to be
performed or           observed; and  

	 	        (2)          the
Company has delivered to the Trustee an Officers’ Certificate and an
          Opinion of Counsel, each stating that such consolidation, merger, transfer,
          conveyance, sale, lease or other disposition and, if a supplemental indenture
is           required in connection with such transaction, such supplemental indenture,
          comply with this Article and that all conditions precedent herein provided for
          relating to such transaction have been complied with.  

51 

SECTION 803.     Successor
Substituted. 

        (a)              Upon
any consolidation of the Company with, or merger of the Company into, any           other
Person or any transfer, conveyance, sale, lease or other disposition of           all or
substantially all of the assets of the Company in accordance with Section           801,
the Successor Company shall succeed to, and be substituted for, and may
          exercise every right and power of, the Company under this Indenture with the
          same effect as if such successor Person had been named as the Company herein,
          and thereafter, except in the case of a lease, the predecessor Person shall be
          relieved of all obligations and covenants under this Indenture and the
          Securities.  

        (b)              Upon
any consolidation of a Subsidiary Guarantor with, or merger of such           Subsidiary
Guarantor into, any other Person or any transfer, conveyance, sale,           lease or
other disposition of all or substantially all of the assets of such           Subsidiary
Guarantor in accordance with Section 802, the Successor Subsidiary           Guarantor
shall succeed to, and be substituted for, and may exercise every right           and
power of, such Subsidiary Guarantor under this Indenture with the same           effect
as if such successor Person had been named as a Subsidiary Guarantor           herein,
and thereafter, except in the case of a lease, the predecessor Person           shall be
relieved of all obligations and covenants under this Indenture and its
          Subsidiary Guarantee.  

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, the
Subsidiary Guarantors, when authorized by their respective Board Resolutions, 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 Person to the Company or any Subsidiary
          Guarantor and the assumption by any such successor of the covenants of the
          Company or any Subsidiary Guarantor herein and in the Securities or Subsidiary
          Guarantees, as the case may be;  

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

52 

	 	        (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 to permit or facilitate the issuance of Securities in
          uncertificated form;  

	 	        (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 (A) shall neither (i) 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 (ii) modify the rights of the Holder of any           such
Security with respect to such provision or (B) 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
          Sections 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;  

	 	        (9)          to
cure any ambiguity, to correct or supplement any provision herein which may           be
defective or inconsistent with any other provision herein;  

	 	        (10)          to
make any other provisions with respect to matters or questions arising under
          this Indenture, provided that such action pursuant to this clause (10) shall
not           adversely affect the interests of the Holders of Securities of any series
in any           material respect; or  

	 	        (11)          to
add new Subsidiary Guarantors.  

SECTION 902.     Supplemental
Indentures With Consent of Holders.  

        With
the consent of the Holders of not less than a majority in principal amount of the
Outstanding Securities of each series affected by such supplemental indenture, by Act of
said Holders delivered to the Company, the Subsidiary Guarantors and the Trustee, the
Company, when authorized by a Board Resolution, the Subsidiary Guarantors, when authorized
by their respective Board Resolutions 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: 

53 

	 	        (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 or
any           other Security which 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 interest           thereon is payable, or impair the right to institute suit
for the enforcement of           (a) any such payment on or after the Stated Maturity
thereof (or, in the case of           redemption, on or after the Redemption Date or in
the case of an offer to           purchase Securities which has been made pursuant to a
covenant contained in this           Indenture, on or after the applicable purchase date)
or (b) any conversion right           with respect to any Security, or modify the
provisions of this Indenture with           respect to the conversion or subordination of
the Securities or the Subsidiary           Guarantees, in a manner adverse to the
Holders, or release any Subsidiary           Guarantee other than as provided in this
Indenture;  

	 	        (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;  

	 	        (3)          modify
any of the provisions of this Section, Section 513 or Section 1009,           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 1009, or the deletion of this proviso, in           accordance
with the requirements of Sections 611 and 901(8); or  

	 	        (4)          following
the making of an offer to purchase Securities from any Holder which           has been
made pursuant to a covenant contained in this Indenture, modify the           provisions
of this Indenture with respect to such offer to purchase in a manner           adverse to
such Holder.  

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. 

54 

        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. 

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, if applicable the
Subsidiary Guarantees may be endorsed thereon and such new Securities may be 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 promptly pay the principal of and any premium and interest on the Securities of
that series in accordance with the terms of the Securities and this Indenture. Principal,
premium, if any, and interest shall be considered paid on the date due if the Paying
Agent, if other than the Company or a Subsidiary thereof, holds as of 11:00 A.M., New York
City time, on the due date money deposited by the Company in immediately available funds
and designated for and sufficient to pay all principal, premium, if any, and interest then
due. 

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 or, if
applicable, for conversion, where Securities of that series may be surrendered for
registration of transfer or exchange and where notices and demands to or upon the Company
or any Subsidiary Guarantor in respect of the Securities of that series or any Subsidiary
Guarantee 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 each 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 and each Subsidiary Guarantor hereby appoints the Trustee as its
agent to receive all such presentations, surrenders, notices and demands. 

55 

        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 or any Subsidiary Guarantor 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 or any premium 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 any premium and 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 11:00 A.M., New York City time, on each due date of the principal of or any
premium or interest on any Securities of that series, deposit with a Paying Agent a sum
sufficient to pay such amount, such sum to be held as provided by the Trust Indenture Act,
and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee
of its action 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 provisions of this Section, that such Paying Agent will
(1) comply with the provisions of the Trust Indenture Act applicable to it as a Paying
Agent and (2) during the continuance of any default by the Company, the Subsidiary
Guarantors, if applicable, or any other obligor upon the Securities of that series in the
making of any payment in respect of the Securities of that series, upon the written
request of the Trustee, forthwith pay to the Trustee all sums held in trust by such Paying
Agent for payment in respect of the Securities of that series. 

        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. 

56 

        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 or any premium or interest on any Security of
any series and remaining unclaimed for two years after such principal, premium 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 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 City of New York, 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.     Statement
by Officers as to Default. 

        (a)              The
Company and the Subsidiary Guarantors will deliver to the Trustee, within 90
          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 or any Subsidiary Guarantor, as
the           case may be, is in default in the performance and observance of any of the
          terms, provisions and conditions of this Indenture (without regard to any
period           of grace or requirement of notice provided hereunder) and, if the
Company or any           Subsidiary Guarantor shall be in default, specifying all such
defaults and the           nature and status thereof of which they may have knowledge.  

        (b)              The
Company and each Subsidiary Guarantor shall deliver to the Trustee, as soon           as
possible and in any event within five days after the Company or such           Subsidiary
Guarantor becomes aware or should reasonably become aware of the           occurrence of
an Event of Default or an event which, with notice or the lapse of           time or
both, would constitute an Event of Default, an Officers’          Certificate
setting forth the details of such Event of Default or default, and           the action
which the Company or such Subsidiary Guarantor proposes to take with           respect
thereto.  

SECTION 1005.     Existence. 

        Subject
to Article Eight, the Company will do or cause to be done all things necessary to preserve
and keep in full force and effect the existence, rights (charter and statutory) and
franchises of the Company; provided, however, that the Company shall not be required to
preserve any such right or franchise if it shall determine that the preservation thereof
is no longer desirable in the conduct of the business of the Company and that the loss
thereof is not disadvantageous in any material respect to the Holders. 

57 

SECTION 1006.     Maintenance
of Properties. 

        The
Company will cause all properties used or useful in the conduct of its business or the
business of any Subsidiary to be maintained and kept in good condition, repair and working
order (reasonable wear and tear excepted) and supplied with all necessary equipment and
will cause to be made all necessary repairs, renewals, replacements, betterments and
improvements thereof, all as in the judgment of the Company may be necessary so that the
business carried on in connection therewith may be properly and advantageously conducted
at all times; provided, however, that nothing in this Section shall prevent the Company
from discontinuing the operation or maintenance of any of such properties if such
discontinuance is, in the judgment of the Company, desirable in the conduct of its
business or the business of any Subsidiary and not disadvantageous in any material respect
to the Holders. 

SECTION 1007.     Payment
of Taxes and Other Claims. 

        The
Company will pay or discharge or cause to be paid or discharged, before the same shall
become delinquent, (1) all taxes, assessments and governmental charges levied or imposed
upon the Company or any Subsidiary or upon the income, profits or property of the Company
or any Subsidiary, and (2) all lawful claims for labor, materials and supplies which, if
unpaid, might by law become a lien upon the property of the Company or any Subsidiary;
provided, however, that the Company shall not be required to pay or discharge or cause to
be paid or discharged any such tax, assessment, charge or claim whose amount,
applicability or validity is being contested in good faith by appropriate proceedings. 

SECTION 1008.     Maintenance
of Insurance. 

        The
Company shall, and shall cause its Subsidiaries to, keep at all times all of their
properties which are of an insurable nature insured against loss or damage with insurers
believed by the Company to be responsible to the extent that property of similar character
is usually so insured by corporations similarly situated and owning like properties in
accordance with good business practice. 

SECTION 1009.     Waiver
of Certain Covenants. 

        Except
as otherwise specified as contemplated by Section 301 for Securities of such series, the
Company may, with respect to the Securities of any series, omit in any particular instance
to comply with any term, provision or condition set forth in any of Sections 1005 through
1008 or in any covenant provided pursuant to Section 301(22), 901(2) or 901(7) for the
benefit of the Holders of such series if before the time for such compliance the Holders
of at least a majority 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. 

58 

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 such Securities) 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
or in another manner specified as contemplated by Section 301 for such Securities. In case
of any redemption at the election of the Company of less than all the Securities of any
series (including any such redemption affecting only a single Security), the Company
shall, at least five Business Days prior to giving notice of such redemption (unless a
shorter notice shall be satisfactory to the Trustee), notify the Trustee of such
Redemption Date, of the principal amount of Securities of such series to be redeemed and,
if applicable, of the tenor of the Securities 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 (unless all the Securities
of such series and of a specified tenor are to be redeemed or unless such redemption
affects only a single Security), the particular Securities to be redeemed shall be
selected by the Trustee, from the Outstanding Securities of such series not previously
called for redemption, (i) in compliance with the requirements of the principal national
securities exchange on which such Securities are listed, if such Securities are listed on
any national securities exchange, and (ii) if such Securities are not so listed, on a pro
rata basis, by lot or by such other method as the Trustee shall deem fair and appropriate
and which may provide for the selection for redemption of a portion of the principal
amount of any Security of such series, provided that the unredeemed portion of the
principal amount of any Security shall be in an authorized denomination (which shall not
be less than the minimum authorized denomination) for such Security. If less than all the
Securities of such series and of a specified tenor are to be redeemed (unless such
redemption affects only a single Security), the particular Securities to be redeemed shall
be selected by the Trustee, from the Outstanding Securities of such series and specified
tenor not previously called for redemption in accordance with the preceding sentence. 

        The
Trustee shall promptly notify the Company in writing of the Securities selected for
redemption as aforesaid and, in case of any Securities selected for partial redemption as
aforesaid, the principal amount thereof to be redeemed. 

        The
provisions of the two preceding paragraphs shall not apply with respect to any redemption
affecting only a single Security, whether such Security is to be redeemed in whole or in
part. In the case of any such redemption in part, the unredeemed portion of the principal
amount of the Security shall be in an authorized denomination (which shall not be less
than the minimum authorized denomination) for such Security. 

59 

        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. If any Security selected for partial
redemption is surrendered for conversion after such selection, the converted portion of
such Security shall be deemed (so far as may be) to be the portion selected for
redemption. Upon any redemption of less than all the Securities of a series, for purposes
of selection for redemption the Company and the Trustee may treat as Outstanding
Securities surrendered for conversion during the period of 15 days next preceding the
mailing of a notice of redemption, and need not treat as Outstanding any Security
authenticated and delivered during such period in exchange for the unconverted portion of
any Security converted in part during such period. 

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; provided, however, notice of
redemption may be given more than 60 days prior to the Redemption Date if the notice is
issued in connection with a satisfaction and discharge pursuant to Article Four. 

        All
notices of redemption shall state: 

	 	        (1)          the
Redemption Date,  

	 	        (2)          the
Redemption Price, if then determinable and otherwise the method of its
          determination,  

	 	        (3)          if
less than all the Outstanding Securities of any series consisting of more           than
a single Security are to be redeemed, the identification (and, in the case           of
partial redemption of any such Securities, the principal amounts) of the
          particular Securities to be redeemed and, if less than all the Outstanding
          Securities of any series consisting of a single Security are to be redeemed,
the           principal amount of the particular Security 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 each such Security is to be surrendered for payment of
          the Redemption Price,  

	 	        (6)          that
the redemption is for a sinking fund, if such is the case, and  

	 	        (7)          if
applicable, the conversion price then in effect and the date on which the           right
to convert such Securities will expire.  

60 

        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 and shall be irrevocable. If any Security called for redemption is
converted pursuant hereto, any money deposited with the Trustee or any Paying Agent or so
segregated and held in trust for the redemption of such Security shall be paid to the
Company upon delivery of a Company Request to the Trustee or such Paying Agent, or, if
then held by the Company, shall be discharged from such trust. 

SECTION 1105.     Deposit
of Redemption Price. 

        Prior
to 11:00 A.M., New York City time, on 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, unless otherwise specified as
contemplated by Section 301, installments of interest whose Stated Maturity is on or prior
to the Redemption Date will 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 any premium 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, if applicable to Subsidiary Guarantors shall execute the Subsidiary
Guarantee endorsed thereon, 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
and of like tenor, 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. 

61 

ARTICLE TWELVE
 
SUBORDINATION OF SECURITIES  

SECTION 1201.     Applicability
of Article.  

        Unless
otherwise provided with respect to the Securities of any series in or pursuant to the
Board Resolution or supplemental indenture establishing such series of Securities pursuant
to Section 301, the provisions of this Article shall be applicable to each series of
Securities. 

SECTION 1202.    Securities
Subordinate to Senior Debt. 

        The
Company covenants and agrees, and each Holder of a Security, by his acceptance thereof,
likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth
in this Article (subject to the provisions of Article Four and Article Fifteen), the
payment of the principal of (and premium, if any) and interest on each and all of the
Securities of such series are hereby expressly made subordinate and subject in right of
payment to the prior payment in full of all Senior Debt of the Company. 

        No
provisions of this Article Twelve shall prevent the occurrence of any Event of Default. 

SECTION 1203.     Payment
Over of Proceeds Upon Dissolution, Etc. 

        In
the event of (a) any insolvency or bankruptcy case or proceeding, or any receivership,
liquidation, reorganization or other similar case or proceeding in connection therewith,
relative to the Company or to its creditors, as such, or to its assets, or (b) any
liquidation, dissolution or other winding up of the Company, whether voluntary or
involuntary and whether or not involving insolvency or bankruptcy, or (c) any assignment
for the benefit of creditors or any other marshalling of assets and liabilities of the
Company, then and in any such event specified in (a), (b) or (c) above (each such event,
if any, herein sometimes referred to as a “Proceeding”) the holders of Senior
Debt of the Company shall be entitled to receive payment in full of all amounts due or to
become due on or in respect of all Senior Debt of the Company, or provision shall be made
for such payment in cash or cash equivalents or otherwise in a manner satisfactory to the
holders of Senior Debt of the Company, before the Holders of the Securities are entitled
to receive any payment or distribution of any kind or character, whether in cash, property
or securities (including any payment or distribution which may be payable or deliverable
by reason of the payment of any other indebtedness of the Company subordinated to the
payment of the Securities, such payment or distribution being hereinafter referred to as a
“Junior Subordinated Payment”), on account of principal of (or premium, if any)
or interest on the Securities or on account of any purchase or other acquisition of
Securities by the Company or any Subsidiary of the Company (all such payments,
distributions, purchases and acquisitions, other than the payment or distribution of stock
or securities of the Company referred to in the second succeeding paragraph, herein
referred to, individually and collectively, as a “Securities Payment”), and to
that end the holders of Senior Debt of the Company shall be entitled to receive, for
application to the payment thereof, any Securities Payment which may be payable or
deliverable in respect of the Securities in any such Proceeding. 

62 

        In
the event that, notwithstanding the foregoing provisions of this Section, the Trustee or
the Holder of any Security shall have received any Securities Payment before all Senior
Debt of the Company is paid in full or payment thereof provided for in cash or cash
equivalents or otherwise in a manner satisfactory to the holders of Senior Debt of the
Company, and if such fact shall, at or prior to the time of such Securities Payment, have
been made known to the Trustee or, as the case may be, such Holder, then and in such event
such Securities Payment shall be paid over or delivered forthwith to the trustee in
bankruptcy, receiver, liquidating trustee, custodian, assignee, agent or other Person
making payment or distribution of assets of the Company for application to the payment of
all Senior Debt of the Company remaining unpaid, to the extent necessary to pay all Senior
Debt of the Company in full, after giving effect to any concurrent payment or distribution
to or for the holders of Senior Debt of the Company. 

        For
purposes of this Article only, the words “any payment or distribution of any kind or
character, whether in cash, property or securities” shall not be deemed to include a
payment or distribution of stock or securities of the Company provided for by a plan of
reorganization or readjustment authorized by an order or decree of a court of competent
jurisdiction in a reorganization proceeding under any applicable bankruptcy law or of any
other corporation provided for by such plan of reorganization or readjustment which stock
or securities are subordinated in right of payment to all then outstanding Senior Debt of
the Company to substantially the same extent as the Securities are so subordinated as
provided in this Article. 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 all or substantially all of its assets to another Person
upon the terms and conditions set forth in Article Eight shall not be deemed a Proceeding
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 assets,
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 1204.     No
Payment When Senior Debt of the Company in Default. 

        In
the event that any Senior Payment Default (as defined below) shall have occurred and be
continuing, then no Securities Payment shall be made unless and until such Senior Payment
Default shall have been cured or waived or shall have ceased to exist or all amounts then
due and payable in respect of Senior Debt of the Company shall have been paid in full, or
provision shall have been made for such payment in cash or cash equivalents or otherwise
in a manner satisfactory to the holders of Senior Debt of the Company; provided, however,
that nothing in this Section shall prevent the satisfaction of any sinking fund payment in
accordance with Article Sixteen by delivering and crediting pursuant to Section 1602
Securities which have been acquired (upon redemption or otherwise) prior to such Senior
Payment Default. 

        “Senior
Payment Default” means any default in the payment of principal of (or premium, if
any) or interest on any Senior Debt of the Company when due, whether at the Stated
Maturity of any such payment or by declaration of acceleration, call for redemption or
otherwise. 

63 

        In
the event that any Senior Nonmonetary Default (as defined below) shall have occurred and
be continuing, then, upon the receipt by the Company, the Subsidiary Guarantors and the
Trustee of written notice of such Senior Nonmonetary Default from the agent for the
Designated Senior Debt which is the subject of such Senior Nonmonetary Default, no
Securities Payment shall be made during the period (the “Payment Blockage
Period”) commencing on the date of such receipt of such written notice and ending on
the earlier of (i) the date on which such Senior Nonmonetary Default shall have been cured
or waived or shall have ceased to exist or all Designated Senior Debt the subject of such
Senior Nonmonetary Default shall have been discharged; (ii) the 179th day after the date
of such receipt of such written notice; or (iii) the date on which the Payment Blockage
Period shall have been terminated by written notice to the Company, any Subsidiary
Guarantor or the Trustee from the agent for the Designated Senior Debt initiating the
Payment Blockage Period; provided, however, that nothing in this Section shall prevent the
satisfaction of any sinking fund payment in accordance with Article Sixteen by delivering
and crediting pursuant to Section 1602 Securities which have been acquired (upon
redemption or otherwise) prior to the date of such receipt of such written notice. No more
than one Payment Blockage Period may be commenced with respect to the Securities of a
particular series during any 360-day period and there shall be a period of at least 181
consecutive days in each 360-day period when no Payment Blockage Period is in effect. For
all purposes of this paragraph, no Senior Nonmonetary Default that existed or was
continuing on the date of commencement of any Payment Blockage Period shall be, or be
made, the basis for the commencement of a subsequent Payment Blockage Period, whether or
not within a period of 360 consecutive days, unless such Senior Nonmonetary Default shall
have been cured for a period of not less than 90 consecutive days. 

        “Senior
Nonmonetary Default” means the occurrence or existence and continuance of any event
of default with respect to any Designated Senior Debt of the Company, other than a Senior
Payment Default, permitting the holders of such Designated Senior Debt (or a trustee or
agent on behalf of the holders thereof) to declare such Designated Senior Debt due and
payable prior to the date on which it would otherwise become due and payable. 

        In
the event that, notwithstanding the foregoing, the Company shall make any Securities
Payment to the Trustee or any Holder prohibited by the foregoing provisions of this
Section, and if such fact shall, at or prior to the time of such Securities Payment, have
been made known to the Trustee or, as the case may be, such Holder, then and in such event
such Securities Payment shall be paid over and delivered forthwith to the Company. 

        The
provisions of this Section shall not apply to any Securities Payment with respect to which
Section 1203 would be applicable. 

SECTION 1205.      Payment
Permitted If No Default. 

        Nothing
contained in this Article or elsewhere in this Indenture or in any of the Securities shall
prevent (a) the Company, at any time except during the pendency of any Proceeding referred
to in Section 1203 or under the conditions described in Section 1204, from making
Securities Payments, or (b) the application by the Trustee of any money deposited with it
hereunder to Securities Payments or the retention of such Securities Payment by the
Holders, if, at the time of such application by the Trustee, it did not have knowledge
that such Securities Payment would have been prohibited by the provisions of this Article. 

64 

SECTION 1206.     Subrogation
to Rights of Holders of Senior Debt of the Company. 

        Subject
to the payment in full of all amounts due or to become due on or in respect of Senior Debt
of the Company, or the provision for such payment in cash or cash equivalents or otherwise
in a manner satisfactory to the holders of Senior Debt of the Company, the Holders of the
Securities shall be subrogated to the rights of the holders of such Senior Debt of the
Company to receive payments and distributions of cash, property and securities applicable
to the Senior Debt of the Company until the principal of (and premium, if any) and
interest on the Securities shall be paid in full. For purposes of such subrogation, no
payments or distributions to the holders of the Senior Debt of the Company of any cash,
property or securities to which the Holders of the Securities or the Trustee would be
entitled except for the provisions of this Article, and no payments over pursuant to the
provisions of this Article to the holders of Senior Debt of the Company by Holders of the
Securities or the Trustee, shall, as among the Company, its creditors other than holders
of Senior Debt of the Company and the Holders of the Securities, be deemed to be a payment
or distribution by the Company to or on account of the Senior Debt of the Company. 

SECTION 1207.     Provisions
Solely to Define Relative Rights. 

        The
provisions of this Article are and are intended solely for the purpose of defining the
relative rights of the Holders on the one hand and the holders of Senior Debt of the
Company on the other hand. Nothing contained in this Article or elsewhere in this
Indenture or in the Securities is intended to or shall (a) impair, as among the Company,
its creditors other than holders of Senior Debt of the Company and the Holders of the
Securities, the obligation of the Company, which is absolute and unconditional (and which,
subject to the rights under this Article of the holders of Senior Debt of the Company, is
intended to rank equally with all other general obligations of the Company), to pay to the
Holders of the Securities the principal of (and premium, if any) and interest on the
Securities as and when the same shall become due and payable in accordance with their
terms; or (b) affect the relative rights against the Company of the Holders of the
Securities and creditors of the Company other than the holders of Senior Debt of the
Company; or (c) prevent the Trustee or the Holder of any Security from exercising all
remedies otherwise permitted by applicable law upon default under this Indenture, subject
to the rights, if any, under this Article of the holders of Senior Debt of the Company to
receive cash, property and securities otherwise payable or deliverable to the Trustee or
such Holder. 

SECTION 1208.     Trustee to
Effectuate Subordination. 

        Each
Holder of a Security by his acceptance thereof authorizes and directs the Trustee on his
behalf to take such action 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. 

SECTION 1209.     No Waiver
of Subordination Provisions. 

        No
right of any present or future holder of any Senior Debt of the Company to enforce
subordination as herein provided shall at any time in any way be prejudiced or impaired by
any act or failure to act on the part of the Company or by 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 any such
holder may have or be otherwise charged with. 

65 

        Without
in any way limiting the generality of the foregoing paragraph, the holders of Senior Debt
of the Company may, at any time and from time to time, without the consent of or notice to
the Trustee or the Holders of the Securities, without incurring responsibility to the
Holders of the Securities and without impairing or releasing the subordination provided in
this Article or the obligations hereunder of the Holders of the Securities to the holders
of Senior Debt of the Company, do any one or more of the following: (i) change the manner,
place or terms of payment or extend the time of payment of, or renew or alter, Senior Debt
of the Company, or otherwise amend or supplement in any manner Senior Debt of the Company
or any instrument evidencing the same or any agreement under which Senior Debt of the
Company is outstanding; (ii) sell, exchange, release or otherwise deal with any property
pledged, mortgaged or otherwise securing Senior Debt of the Company; (iii) release any
Person liable in any manner for the collection of Senior Debt of the Company; and (iv)
exercise or refrain from exercising any rights against the Company and any other Person. 

SECTION 1210.     Notice to
Trustee. 

        The
Company shall give prompt written notice to the Trustee 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 written notice thereof from
the Company or a holder of Senior Debt of the Company 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 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 within three Business Days prior to such date. 

        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 Debt of
the Company (or a trustee therefor) to establish that such notice has been given by a
holder of Senior Debt of the Company (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 Debt of the Company 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
Debt of the Company 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 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. 

66 

SECTION 1211.     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 rely upon any order or decree entered by any court of competent
jurisdiction in which such 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 Debt of
the Company 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 1212.     Trustee
Not Fiduciary for Holders of Senior Debt of the Company. 

        The
Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Debt of the
Company and shall not be liable to any such holders if it shall in good faith mistakenly
pay over or distribute to Holders of Securities or to the Company, a Subsidiary Guarantor
or to any other Person cash, property or securities to which any holders of Senior Debt of
the Company shall be entitled by virtue of this Article or otherwise. 

SECTION 1213.     Rights
of Trustee as Holder of Senior Debt of the Company; Preservation of Trustee's Rights. 

        The
Trustee in its individual capacity shall be entitled to all the rights set forth in this
Article with respect to any Senior Debt of the Company which may at any time be held by
it, to the same extent as any other holder of Senior Debt of the Company, and nothing in
this Indenture shall deprive the Trustee of any of its rights as such holder. 

        Nothing
in this Article shall apply to claims of, or payments to, the Trustee under or pursuant to
Section 607. 

SECTION 1214.     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 context 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 1213 shall not apply to the Company, any
Subsidiary Guarantor or any Affiliate of the Company if it or such Subsidiary Guarantor or
Affiliate acts as Paying Agent. 

67 

SECTION 1215.     Defeasance
of this Article Twelve. 

        The
subordination of the Securities of a series provided by this Article Twelve is expressly
made subject to the provisions for Defeasance or Covenant Defeasance in Article Fifteen
hereof and, anything herein to the contrary notwithstanding, upon the effectiveness of any
such Defeasance or Covenant Defeasance, the Securities of such series then outstanding
shall thereupon cease to be subordinated pursuant to this Article Twelve. 

ARTICLE THIRTEEN
 
SUBSIDIARY GUARANTEES  

SECTION 1301.     Applicability
of Article.  

        Unless
the Company elects to issue any series of Securities without the benefit of the Subsidiary
Guarantees, which election shall be evidenced in or pursuant to the Board Resolution or
supplemental indenture establishing such series of Securities pursuant to Section 301, the
provisions of this Article shall be applicable to each series of Securities except as
otherwise specified in or pursuant to the Board Resolution or supplemental indenture
establishing such series pursuant to Section 301. 

SECTION 1302.     Subsidiary
Guarantees. 

        Subject
to Section 1301, each Subsidiary Guarantor hereby, jointly and severally, fully and
unconditionally guarantees to each Holder of a Security authenticated and delivered by the
Trustee, the due and prompt payment of the principal of (and premium, if any) and interest
on such Security when and as the same shall become due and payable, whether at the Stated
Maturity, by acceleration, call for redemption, offer to purchase or otherwise, in
accordance with the terms of such Security and of this Indenture, and each Subsidiary
Guarantor similarly guarantees to the Trustee the payment of all amounts owing to the
Trustee in accordance with the terms of this Indenture. In case of the failure of the
Company promptly to make any such payment, each Subsidiary Guarantor hereby, jointly and
severally, agrees to cause such payment to be made promptly when and as the same shall
become due and payable, whether at the Stated Maturity or by acceleration, call for
redemption, offer to purchase or otherwise, and as if such payment were made by the
Company. 

        Each
of the Subsidiary Guarantors hereby jointly and severally agrees that its obligations
hereunder shall be absolute, unconditional, irrespective of, and shall be unaffected by,
the validity, regularity or enforceability of such Security or this Indenture, the absence
of any action to enforce the same or any release, amendment, waiver or indulgence granted
to the Company or any guarantor or any consent to departure from any requirement of any
other guarantee of all or any of the Securities of such series or any other circumstances
which might otherwise constitute a legal or equitable discharge or defense of a surety or
guarantor; provided, however, that, notwithstanding the foregoing, no such release,
amendment, waiver or indulgence shall, without the consent of such Subsidiary Guarantor,
increase the principal amount of such Security, or increase the interest rate thereon, or
alter the Stated Maturity thereof. Each of the Subsidiary Guarantors hereby waives the
benefits of diligence, presentment, demand for payment, any requirement that the Trustee
or any of the Holders protect, secure, perfect or insure any security interest in or other
lien on any property subject thereto or exhaust any right or take any action against the
Company or any other Person or any collateral, filing of claims with a court in the event
of insolvency or bankruptcy of the Company, any right to require a proceeding first
against the Company, protest or notice with respect to such Security or the indebtedness
evidenced thereby and all demands whatsoever, and covenants that this Subsidiary Guarantee
will not be discharged in respect of such Security except by complete performance of the
obligations contained in such Security and in such Subsidiary Guarantee. Each Subsidiary
Guarantor agrees that if, after the occurrence and during the continuance of an Event of
Default, the Trustee or any of the Holders are prevented by applicable law from exercising
their respective rights to accelerate the maturity of the Securities of a series, to
collect interest on the Securities of a series, or to enforce or exercise any other right
or remedy with respect to the Securities of a series, such Subsidiary Guarantor agrees to
pay to the Trustee for the account of the Holders, upon demand therefor, the amount that
would otherwise have been due and payable had such rights and remedies been permitted to
be exercised by the Trustee or any of the Holders. 

68 

        The
indebtedness of each Subsidiary Guarantor evidenced by the Subsidiary Guarantees is, to
the extent provided in this Indenture, subordinate and subject in right of payment to the
prior payment in full of all Senior Debt of each Subsidiary Guarantor, and the Subsidiary
Guarantees are issued subject to the provisions of this Indenture with respect thereto.
Each Holder of such Security, by accepting the same, will be deemed to have (a) agreed to
and be bound by such provisions, (b) authorized and directed the Trustee on his behalf to
take such action as may be necessary or appropriate to effectuate the subordination so
provided and (c) appointed the Trustee his attorney-in-fact for any and all such purposes. 

        Each
Subsidiary Guarantor shall be subrogated to all rights of the Holders of the Securities
upon which its Subsidiary Guarantee is endorsed against the Company in respect of any
amounts paid by such Subsidiary Guarantor on account of such Security pursuant to the
provisions of its Subsidiary Guarantee or this Indenture; provided, however, that no
Subsidiary Guarantor shall be entitled to enforce or to receive any payments arising out
of, or based upon, such right of subrogation until the principal of (and premium, if any)
and interest on all Securities of the relevant series issued hereunder shall have been
paid in full. 

        Each
Subsidiary Guarantor that makes or is required to make any payment in respect of its
Subsidiary Guarantee shall be entitled to seek contribution from the other Subsidiary
Guarantors to the extent permitted by applicable law; provided, however, that no
Subsidiary Guarantor shall be entitled to enforce or receive any payments arising out of,
or based upon, such right of contribution until the principal of (and premium, if any) and
interest on all Securities of the relevant series issued hereunder shall have been paid in
full. 

        Each
Subsidiary Guarantee shall remain in full force and effect and continue to be effective
should any petition be filed by or against the Company for liquidation or reorganization,
should the Company become insolvent or make an assignment for the benefit of creditors or
should a receiver or trustee be appointed for all or any part of the Company’s
assets, and shall, to the fullest extent permitted by law, continue to be effective or be
reinstated, as the case may be, if at any time payment and performance of the Securities
of a series, is, pursuant to applicable law, rescinded or reduced in amount, or must
otherwise be restored or returned by any Holder of the Securities, whether as a
“voidable preference,” “fraudulent transfer,” or otherwise, all as
though such payment or performance had not been made. In the event that any payment, or
any part thereof, is rescinded, reduced, restored or returned, the Securities shall, to
the fullest extent permitted by law, be reinstated and deemed reduced only by such amount
paid and not so rescinded, reduced, restored or returned. 

69 

SECTION 1303.     Execution
and Delivery of Subsidiary Guarantees. 

        The
Subsidiary Guarantees to be endorsed on the Securities shall include the terms of the
Subsidiary Guarantee set forth in Section 1302 and any other terms that may be set forth
in the form established pursuant to Section 204. Subject to Section 1301, each of the
Subsidiary Guarantors hereby agrees to execute its Subsidiary Guarantee, in a form
established pursuant to Section 204, to be endorsed on each Security authenticated and
delivered by the Trustee. 

        The
Subsidiary Guarantee shall be executed on behalf of each respective Subsidiary Guarantor
by any one of such Subsidiary Guarantor’s Chairman of the Board of Directors, Chief
Executive Officer, President, Chief Financial Officer, one of its Vice Presidents, or its
Corporate Secretary. The signature of any or all of these persons on the Subsidiary
Guarantee may be manual or facsimile. 

        A
Subsidiary Guarantee bearing the manual or facsimile signature of individuals who were at
any time the proper officers of a Subsidiary Guarantor shall bind such Subsidiary
Guarantor, notwithstanding that such individuals or any of them have ceased to hold such
offices prior to the authentication and delivery of the Security on which such Subsidiary
Guarantee is endorsed or did not hold such offices at the date of such Subsidiary
Guarantee. 

        The
delivery of any Security by the Trustee, after the authentication thereof hereunder, shall
constitute due delivery of the Subsidiary Guarantee endorsed thereon on behalf of the
Subsidiary Guarantors and shall bind each Subsidiary Guarantor notwithstanding the fact
that Subsidiary Guarantee does not bear the signature of such Subsidiary Guarantor. Each
of the Subsidiary Guarantors hereby jointly and severally agrees that its Subsidiary
Guarantee set forth in Section 1302 and in the form of Subsidiary Guarantee established
pursuant to Section 204 shall remain in full force and effect notwithstanding any failure
to endorse a Subsidiary Guarantee on any Security. For all other provisions of this
Indenture such Subsidiary Guarantees shall be deemed to be duly endorsed. 

SECTION 1304.     Release
of Subsidiary Guarantors. 

        Unless
otherwise specified pursuant to Section 301 with respect to a series of Securities, each
Subsidiary Guarantee will remain in effect with respect to the respective Subsidiary
Guarantor until the entire principal of, premium, if any, and interest on the Securities
to which such Subsidiary Guarantee relates shall have been paid in full or otherwise
satisfied and discharged in accordance with the provisions of such Securities and this
Indenture and all amounts owing to the Trustee hereunder have been paid; provided,
however, that if (i) such Subsidiary Guarantor ceases to be a Subsidiary in compliance
with the applicable provisions of this Indenture, (ii) either Defeasance or Covenant
Defeasance occurs with respect to such Securities pursuant to Article Fifteen or (iii) all
or substantially all of the assets of such Subsidiary Guarantor or all of the Capital
Stock of such Subsidiary Guarantor is sold (including by sale, merger, consolidation or
otherwise) by the Company or any Subsidiary in a transaction complying with the
requirements of this Indenture, then, in each case of (i), (ii) or (iii), upon delivery by
the Company of an Officers’ Certificate and an Opinion of Counsel stating that all
conditions precedent herein provided for relating to the release of such Subsidiary
Guarantor from its obligations under its Subsidiary Guarantee and this Article Thirteen
have been complied with, such Subsidiary Guarantor shall be released and discharged of its
obligations under its Subsidiary Guarantee and under this Article Thirteen without any
action on the part of the Trustee or any Holder, and the Trustee shall execute any
documents reasonably required in order to acknowledge the release of such Subsidiary
Guarantor from its obligations under its Subsidiary Guarantee endorsed on the Securities
of such series and under this Article Thirteen. 

70 

SECTION 1305.     Additional
Subsidiary Guarantors. 

        Unless
otherwise specified pursuant to Section 301 with respect to a series of Securities, the
Company will cause any Domestic Subsidiary of the Company that becomes a Material Domestic
Subsidiary after the date the Securities of a series are first issued hereunder to become
a Subsidiary Guarantor as soon as practicable after such Subsidiary becomes a Material
Domestic Subsidiary. The Company shall cause any such Subsidiary to become a Subsidiary
Guarantor with respect to the Securities by executing and delivering to the Trustee (a) a
supplemental indenture, in form and substance satisfactory to the Trustee, which subjects
such Person to the provisions (including the representations and warranties) of this
Indenture as a Subsidiary Guarantor and (b) an Opinion of Counsel to the effect that such
supplemental indenture has been duly authorized and executed by such Person and such
supplemental indenture and such Person’s obligations under its Subsidiary Guarantee
and this Indenture constitute the legal, valid, binding and enforceable obligations of
such Person (subject to such customary exceptions concerning creditors’ rights and
equitable principles as may be acceptable to the Trustee in its discretion). 

SECTION 1306.     Limitation
on Liability. 

        Any
term or provision of this Indenture to the contrary notwithstanding, the maximum amount of
the Subsidiary Guarantee of any Subsidiary Guarantor shall not exceed the maximum amount
that can be hereby guaranteed by such Subsidiary Guarantor without rendering such
Subsidiary Guarantee voidable under applicable law relating to fraudulent conveyance or
fraudulent transfer or similar laws affecting the rights of creditors generally. 

ARTICLE FOURTEEN
 
SUBORDINATION OF SUBSIDIARY GUARANTEES  

SECTION 1401.     Applicability
of Article.  

        Unless
otherwise provided with respect to the Securities of any series in or pursuant to the
Board Resolution or supplemental indenture establishing such series of Securities pursuant
to Section 301, the provisions of this Article shall be applicable to each series of
Securities. 

71 

SECTION 1402.     Subsidiary
Guarantees Subordinate to Senior Debt of Subordinate Guarantors. 

        Each
Subsidiary Guarantor covenants and agrees, and each Holder of a Security, by his
acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner
hereinafter set forth in this Article (subject to the provisions of Article Four and
Article Fifteen), the Subsidiary Guarantee of such Subsidiary Guarantor is hereby
expressly made subordinate and subject in right of payment to the prior payment in full of
all Senior Debt of such Subsidiary Guarantor. 

        No
provisions of this Article Fourteen shall prevent the occurrence of any Event of Default. 

SECTION 1403.     Payment
Over of Proceeds Upon Dissolution, Etc. 

        In
the event of (a) any insolvency or bankruptcy case or proceeding, or any receivership,
liquidation, reorganization or other similar case or proceeding in connection therewith,
relative to any Subsidiary Guarantor or to its creditors, as such, or to its assets, or
(b) any liquidation, dissolution or other winding up of any Subsidiary Guarantor, whether
voluntary or involuntary and whether or not involving insolvency or bankruptcy, or (c) any
assignment for the benefit of creditors or any other marshalling of assets and liabilities
of any Subsidiary Guarantor, then and in any such event specified in (a), (b) or (c) above
(each such event, if any, herein sometimes referred to as a “Guarantor
Proceeding”) the holders of Senior Debt of such Subsidiary Guarantor shall be
entitled to receive payment in full of all amounts due or to become due on or in respect
of all Senior Debt of such Subsidiary Guarantor, or provision shall be made for such
payment in cash or cash equivalents or otherwise in a manner satisfactory to the holders
of Senior Debt of such Subsidiary Guarantor, before the Holders of the Securities are
entitled to receive any payment or distribution of any kind or character, whether in cash,
property or securities (including any payment or distribution which may be payable or
deliverable by reason of the payment of any other indebtedness of such Subsidiary
Guarantor subordinated to the payment of the Securities, such payment or distribution
being hereinafter referred to as a “Guarantor Junior Subordinated Payment”), on
account of the Subsidiary Guarantee of such Subsidiary Guarantor (all such payments, other
than the payment or distribution of stock or securities of a Subsidiary Guarantor referred
to in the second succeeding paragraph, herein referred to, individually and collectively,
as a “Guarantee Payment”), and to that end the holders of Senior Debt of such
Subsidiary Guarantor shall be entitled to receive, for application to the payment thereof,
any Guarantee Payment which may be payable or deliverable in respect of such Subsidiary
Guarantor’s Subsidiary Guarantee in any such Guarantor Proceeding. 

        In
the event that, notwithstanding the foregoing provisions of this Section, the Trustee or
the Holder of any Security shall have received any Guarantee Payment before all Senior
Debt of such Subsidiary Guarantor is paid in full or payment thereof provided for in cash
or cash equivalents or otherwise in a manner satisfactory to the holders of Senior Debt of
such Subsidiary Guarantor, and if such fact shall, at or prior to the time of such
Guarantee Payment, have been made known to the Trustee or, as the case may be, such
Holder, then and in such event such Guarantee Payment shall be paid over or delivered
forthwith to the trustee in bankruptcy, receiver, liquidating trustee, custodian,
assignee, agent or other Person making payment or distribution of assets of such
Subsidiary Guarantor for application to the payment of all Senior Debt of such Subsidiary
Guarantor remaining unpaid, to the extent necessary to pay all Senior Debt of such
Subsidiary Guarantor in full, after giving effect to any concurrent payment or
distribution to or for the holders of Senior Debt of such Subsidiary Guarantor. 

72 

        For
purposes of this Article only, the words “any payment or distribution of any kind or
character, whether in cash, property or securities” shall not be deemed to include a
payment or distribution of stock or securities of a Subsidiary Guarantor provided for by a
plan of reorganization or readjustment authorized by an order or decree of a court of
competent jurisdiction in a reorganization proceeding under any applicable bankruptcy law
or of any other corporation provided for by such plan of reorganization or readjustment
which stock or securities are subordinated in right of payment to all then outstanding
Senior Debt of such Subsidiary Guarantor to substantially the same extent as the
Subsidiary Guarantees are so subordinated as provided in this Article. The consolidation
of a Subsidiary Guarantor with, or the merger of a Subsidiary Guarantor into, another
Person or the liquidation or dissolution of such Subsidiary Guarantor following the
conveyance or transfer of all or substantially all of its assets to another Person upon
the terms and conditions set forth in Article Eight shall not be deemed a Guarantor
Proceeding for the purposes of this Section if the Person formed by such consolidation or
into which such Subsidiary Guarantor is merged or the Person which acquires by conveyance
or transfer such assets, 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 1404.     No
Payment When Senior Debt of the Company in Default. 

        In
the event that any Senior Payment Default shall have occurred and be continuing, then no
Guarantee Payment shall be made unless and until such Senior Payment Default shall have
been cured or waived or shall have ceased to exist or all amounts then due and payable in
respect of the relevant Senior Debt of the Company shall have been paid in full, or
provision shall have been made for such payment in cash or cash equivalents or otherwise
in a manner satisfactory to the holders of such Senior Debt; provided, that nothing in
this Section shall prevent the satisfaction of any sinking fund payment in accordance with
Article Sixteen by delivering and crediting pursuant to Section 1602 Securities which have
been acquired (upon redemption or otherwise) prior to such Senior Payment Default. 

        In
the event that any Senior Nonmonetary Default shall have occurred and be continuing, then,
upon the receipt by the Company, the Subsidiary Guarantors and the Trustee of written
notice of such Senior Nonmonetary Default from any holder, or agent for the holders, of
any Designated Senior Debt of the Company, no Guarantee Payment shall be made during the
applicable Payment Blockage Period; provided, however, that nothing in this Section shall
prevent the satisfaction of any sinking fund payment in accordance with Article Sixteen by
delivering and crediting pursuant to Section 1602 Securities which have been acquired
(upon redemption or otherwise) prior to the date of such receipt of such written notice.
No more than one Payment Blockage Period may be commenced with respect to the Subsidiary
Guarantees during any 360-day period and there shall be a period of at least 181
consecutive days in each 360-day period when no Payment Blockage Period is in effect. For
all purposes of this paragraph, no Senior Nonmonetary Default that existed or was
continuing on the date of commencement of any Payment Blockage Period shall be, or be
made, the basis for the commencement of a subsequent Payment Blockage Period, whether or
not within a period of 360 consecutive days, unless such Senior Nonmonetary Default shall
have been cured for a period of not less than 90 consecutive days. 

73 

        In
the event that, notwithstanding the foregoing, a Subsidiary Guarantor shall make any
Guarantee Payment to the Trustee or any Holder prohibited by the foregoing provisions of
this Section, and if such fact shall, at or prior to the time of such Guarantee Payment,
have been made known to the Trustee or, as the case may be, such Holder, then and in such
event such Guarantee Payment shall be paid over and delivered forthwith to the Company. 

        The
provisions of this Section shall not apply to any Guarantee Payment with respect to which
Section 1403 would be applicable. 

SECTION 1405.     Payment
Permitted If No Default. 

        Nothing
contained in this Article or elsewhere in this Indenture or in any of the Subsidiary
Guarantees shall prevent (a) a Subsidiary Guarantor, at any time except during the
pendency of any Guarantor Proceeding referred to in Section 1403 or under the conditions
described in Section 1404, from making Guarantee Payments, or (b) the application by the
Trustee of any money deposited with it hereunder to Guarantee Payments or the retention of
such Guarantee Payment by the Holders, if, at the time of such application by the Trustee,
it did not have knowledge that such Guarantee Payment would have been prohibited by the
provisions of this Article. 

SECTION 1406.     Subrogation
to Rights of Holders of Senior Debt of such Subsidiary Guarantor. 

        Subject
to the payment in full of all amounts due or to become due on or in respect of Senior Debt
of a Subsidiary Guarantor, or the provision for such payment in cash or cash equivalents
or otherwise in a manner satisfactory to the holders of Senior Debt of such Subsidiary
Guarantor, the Holders of the Securities shall be subrogated to the rights of the holders
of such Senior Debt of such Subsidiary Guarantor to receive payments and distributions of
cash, property and securities applicable to the Senior Debt of such Subsidiary Guarantor
until the principal of (and premium, if any) and interest on the Securities shall be paid
in full. For purposes of such subrogation, no payments or distributions to the holders of
the Senior Debt of a Subsidiary Guarantor of any cash, property or securities to which the
Holders of the Securities or the Trustee would be entitled except for the provisions of
this Article, and no payments over pursuant to the provisions of this Article to the
holders of Senior Debt of a Subsidiary Guarantor by Holders of the Securities or the
Trustee, shall, as among a Subsidiary Guarantor, its creditors other than holders of
Senior Debt of such Subsidiary Guarantor and the Holders of the Securities, be deemed to
be a payment or distribution by such Subsidiary Guarantor to or on account of the Senior
Debt of such Subsidiary Guarantor. 

SECTION 1407.     Provisions
Solely to Define Relative Rights. 

74 

        The
provisions of this Article are and are intended solely for the purpose of defining the
relative rights of the Holders on the one hand and the holders of Senior Debt of a
Subsidiary Guarantor on the other hand. Nothing contained in this Article or elsewhere in
this Indenture or in the Subsidiary Guarantees is intended to or shall (a) impair, as
among a Subsidiary Guarantor, its creditors other than holders of Senior Debt of such
Subsidiary Guarantor and the Holders of the Securities, the obligation of such Subsidiary
Guarantor, which is absolute and unconditional (and which, subject to the rights under
this Article of the holders of Senior Debt of such Subsidiary Guarantor, is intended to
rank equally with all other general obligations of such Subsidiary Guarantor), to
guarantee payment to the Holders of the Securities of the principal of (and premium, if
any) and interest on the Securities as and when the same shall become due and payable in
accordance with their terms; or (b) affect the relative rights against a Subsidiary
Guarantor of the Holders of the Securities and creditors of such Subsidiary Guarantor
other than the holders of Senior Debt of such Subsidiary Guarantor; or (c) prevent the
Trustee or the Holder of any Security from exercising all remedies otherwise permitted by
applicable law upon default under this Indenture, subject to the rights, if any, under
this Article of the holders of Senior Debt of a Subsidiary Guarantor to receive cash,
property and securities otherwise payable or deliverable to the Trustee or such Holder. 

SECTION 1408.     Trustee to
Effectuate Subordination. 

        Each
Holder of a Security by his acceptance thereof authorizes and directs the Trustee on his
behalf to take such action 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. 

SECTION 1409.     No Waiver
of Subordination Provisions. 

        No
right of any present or future holder of any Senior Debt of a Subsidiary Guarantor to
enforce subordination as herein provided shall at any time in any way be prejudiced or
impaired by any act or failure to act on the part of such Subsidiary Guarantor or by any
act or failure to act, in good faith, by any such holder, or by any noncompliance by such
Subsidiary Guarantor with the terms, provisions and covenants of this Indenture,
regardless of any knowledge thereof any such holder may have or be otherwise charged with. 

        Without
in any way limiting the generality of the foregoing paragraph, the holders of Senior Debt
of a Subsidiary Guarantor may, at any time and from time to time, without the consent of
or notice to the Trustee or the Holders of the Securities, without incurring
responsibility to the Holders of the Securities and without impairing or releasing the
subordination provided in this Article or the obligations hereunder of the Holders of the
Securities to the holders of Senior Debt of such Subsidiary Guarantor, do any one or more
of the following: (i) change the manner, place or terms of payment or extend the time of
payment of, or renew or alter, Senior Debt of such Subsidiary Guarantor, or otherwise
amend or supplement in any manner Senior Debt of such Subsidiary Guarantor or any
instrument evidencing the same or any agreement under which Senior Debt of such Subsidiary
Guarantor is outstanding; (ii) sell, exchange, release or otherwise deal with any property
pledged, mortgaged or otherwise securing Senior Debt of such Subsidiary Guarantor; (iii)
release any Person liable in any manner for the collection of Senior Debt of such
Subsidiary Guarantor; and (iv) exercise or refrain from exercising any rights against such
Subsidiary Guarantor and any other Person. 

75 

SECTION 1410.     Notice to
Trustee. 

        Each
Subsidiary Guarantor shall give prompt written notice to the Trustee of any fact known to
such Subsidiary Guarantor which would prohibit the making of any payment to or by the
Trustee in respect of its Subsidiary Guarantee. 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 Subsidiary Guarantees, unless and until the Trustee
shall have received written notice thereof from a Subsidiary Guarantor or a holder of
Senior Debt of such Subsidiary Guarantor 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 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 within three Business Days prior to such date. 

        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 Debt of a
Subsidiary Guarantor (or a trustee therefor) to establish that such notice has been given
by a holder of Senior Debt of such Subsidiary Guarantor (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 Debt of a Subsidiary Guarantor 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 Debt of such Subsidiary Guarantor 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 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 1411.     Reliance
on Judicial Order or Certificate of Liquidating Agent. 

        Upon
any payment or distribution of assets of a Subsidiary Guarantor referred to in this
Article, the Trustee, subject to the provisions of Section 601, and the Holders of the
Securities shall be entitled to rely upon any order or decree entered by any court of
competent jurisdiction in which such Guarantor 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
Debt of such Subsidiary Guarantor and other indebtedness of such Subsidiary Guarantor, the
amount thereof or payable thereon, the amount or amounts paid or distributed thereon and
all other facts pertinent thereto or to this Article. 

76 

SECTION 1412.     Trustee
Not Fiduciary for Holders of Senior Debt of such Subsidiary Guarantor. 

        The
Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Debt of a
Subsidiary Guarantor 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, a Subsidiary
Guarantor, or to any other Person cash, property or securities to which any holders of
Senior Debt of such Subsidiary Guarantor shall be entitled by virtue of this Article or
otherwise. 

SECTION 1413.     Rights
of Trustee as Holder of Senior Debt of such Subsidiary Guarantor; Preservation of
                           Trustee's Rights. 

        The
Trustee in its individual capacity shall be entitled to all the rights set forth in this
Article with respect to any Senior Debt of a Subsidiary Guarantor which may at any time be
held by it, to the same extent as any other holder of Senior Debt of such Subsidiary
Guarantor, and nothing in this Indenture shall deprive the Trustee of any of its rights as
such holder. 

        Nothing
in this Article shall apply to claims of, or payments to, the Trustee under or pursuant to
Section 607. 

SECTION 1414.     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 context 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 1413 shall not apply to the Company, any
Subsidiary Guarantor or any Affiliate of the Company if it or such Subsidiary Guarantor or
Affiliate acts as Paying Agent. 

SECTION 1415.     Defeasance
of this Article Fourteen. 

        The
subordination of the Subsidiary Guarantees provided by this Article Fourteen is expressly
made subject to the provisions for Defeasance or Covenant Defeasance of a series of
Securities in Article Fifteen hereof and, anything herein to the contrary notwithstanding,
upon the effectiveness of any such Defeasance or Covenant Defeasance with respect to a
series of Securities, the Subsidiary Guarantees of the Securities of such series shall
thereupon cease to be subordinated pursuant to this Article Fourteen. 

ARTICLE FIFTEEN

DEFEASANCE AND COVENANT DEFEASANCE  

SECTION 1501.     Company's
Option to Effect Defeasance or Covenant Defeasance. 

        The
Company may elect, at its option at any time, to have Section 1502 or Section 1503 applied
to any Securities or any series of Securities, as the case may be, designated pursuant to
Section 301 as being defeasible pursuant to such Section 1502 or 1503, in accordance with
any applicable requirements provided pursuant to Section 301 and upon compliance with the
conditions set forth below in this Article. Any such election shall be evidenced in or
pursuant to a Board Resolution or in another manner specified as contemplated by Section
301 for such Securities. 

77 

SECTION 1502.     Defeasance
and Discharge. 

        Upon
the Company’s exercise of its option (if any) to have this Section applied to any
Securities or any series of Securities, as the case may be, the Company shall be deemed to
have been discharged from its obligations, and each Subsidiary Guarantor shall be deemed
to have been discharged from its obligations with respect to its Subsidiary Guarantees of
such Securities, and the provisions of Articles Twelve and Fourteen shall cease to be
effective, with respect to such Securities and Subsidiary Guarantees as provided in this
Section on and after the date the conditions set forth in Section 1504 are satisfied
(herein called “Defeasance”). For this purpose, such Defeasance means that the
Company shall be deemed to have paid and discharged the entire indebtedness represented by
such Securities and to have satisfied all its other obligations under such Securities and
this Indenture insofar as such Securities are concerned (and the Trustee, at the expense
of the Company, shall execute proper instruments acknowledging the same), subject to the
following which shall survive until otherwise terminated or discharged hereunder: (1) the
rights of Holders of such Securities to receive, solely from the trust fund described in
Section 1504 and as more fully set forth in such Section, payments in respect of the
principal of and any premium and interest on such Securities when payments are due, or, if
applicable, to convert such Securities in accordance with their terms, (2) the
Company’s and each Subsidiary Guarantor’s obligations with respect to such
Securities under Sections 304, 305, 306, 1002 and 1003, and, if applicable, their
obligations with respect to the conversion of such Securities, (3) the rights, powers,
trusts, duties and immunities of the Trustee hereunder and (4) this Article. Subject to
compliance with this Article, the Company may exercise its option (if any) to have this
Section applied to any Securities notwithstanding the prior exercise of its option (if
any) to have Section 1503 applied to such Securities. 

SECTION 1503.     Covenant
Defeasance. 

        Upon
the Company’s exercise of its option (if any) to have this Section applied to any
Securities or any series of Securities, as the case may be, (1) the Company shall be
released from its obligations under Section 801(3), Sections 1005 through 1008, inclusive,
and any covenants provided pursuant to Section 301(22), 901(2) or 901(7) for the benefit
of the Holders of such Securities, and (2) the occurrence of any event specified in
Sections 501(5) (with respect to any of Section 801(3), Sections 1005 through 1008,
inclusive, and any such covenants provided pursuant to Section 301(22), 901(2) or 901(7)),
501(6), 501(7)), 501(10) and 501(11) shall be deemed not to be or result in an Event of
Default and (3) the provisions of Articles Twelve, Thirteen and Fourteen shall cease to be
effective, in each case with respect to such Securities and Subsidiary Guarantees as
provided in this Section on and after the date the conditions set forth in Section 1504
are satisfied (herein called “Covenant Defeasance”). For this purpose, such
Covenant Defeasance means that, with respect to such Securities, the Company and the
Subsidiary Guarantors, as applicable, may omit to comply with and shall have no liability
in respect of any term, condition or limitation set forth in any such specified Section
(to the extent so specified in the case of Section 501(5)) or Article Twelve, Thirteen or
Fourteen, whether directly or indirectly by reason of any reference elsewhere herein to
any such Section or Article or by reason of any reference in any such Section or Article
to any other provision herein or in any other document, but the remainder of this
Indenture and such Securities shall be unaffected thereby. 

78 

SECTION 1504.     Conditions
to Defeasance or Covenant Defeasance. 

        The
following shall be the conditions to the application of Section 1502 or Section 1503 to
any Securities or any series of Securities, as the case may be: 

	 	        (1)          The
Company shall irrevocably have deposited or caused to be deposited with the
          Trustee (or another trustee which satisfies the requirements contemplated by
          Section 609 and agrees to comply with the provisions of this Article applicable
          to it) as trust funds in trust for the purpose of making the following
payments,           specifically pledged as security for, and dedicated solely to, the
benefits of           the Holders of such Securities, (A) money in an amount, or (B) U.S.
Government           Obligations which through the scheduled payment of principal and
interest in           respect thereof in accordance with their terms will provide, not
later than one           day before the due date of any payment, money in an amount, or
(C) 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,
and which shall be applied by           the Trustee (or any such other qualifying
trustee) to pay and discharge, the           principal of and any premium and interest on
such Securities on the respective           Stated Maturities, in accordance with the
terms of this Indenture and such           Securities. As used herein, “U.S.
Government Obligation” means (x) any           security which is (i) a direct
obligation of the United States of America for           the payment of which the full
faith and credit of the United States of America           is pledged or (ii) an
obligation of a Person controlled or supervised by and           acting as an agency or
instrumentality of the United States of America the           payment of which is
unconditionally guaranteed as a full faith and credit           obligation by the United
States of America, which, in either case (i) or (ii),           is not callable or
redeemable at the option of the issuer thereof, and (y) any           depositary receipt
issued by a bank (as defined in Section 3(a)(2) of the           Securities Act) as
custodian with respect to any U.S. Government Obligation           which is specified in
clause (x) above and held by such bank for the account of           the holder of such
depositary receipt, or with respect to any specific payment           of principal of or
interest on any U.S. Government Obligation which is so           specified and held,
provided that (except as required by law) such custodian is           not authorized to
make any deduction from the amount payable to the holder of           such depositary
receipt from any amount received by the custodian in respect of           the U.S.
Government Obligation or the specific payment of principal or interest
          evidenced by such depositary receipt.  

	 	        (2)          In
the event of an election to have Section 1502 apply to any Securities or any
          series of Securities, as the case may be, the Company shall have delivered to
          the Trustee an Opinion of Counsel stating that (A) the Company has received
          from, or there has been published by, the Internal Revenue Service a ruling or
          (B) since the date of this instrument, there has been a change in the
applicable           Federal income tax law, in either case (A) or (B) to the effect
that, and based           thereon such opinion shall confirm that, the Holders of such
Securities will not           recognize gain or loss for Federal income tax purposes as a
result of the           deposit, Defeasance and discharge to be effected with respect to
such Securities           and will be subject to Federal income tax on the same amount,
in the same manner           and at the same times as would be the case if such deposit,
Defeasance and           discharge were not to occur.  

79 

	 	        (3)          In
the event of an election to have Section 1503 apply to any Securities or any
          series of Securities, as the case may be, the Company shall have delivered to
          the Trustee an Opinion of Counsel to the effect that the Holders of such
          Securities will not recognize gain or loss for Federal income tax purposes as a
          result of the deposit and Covenant Defeasance to be effected with respect to
          such Securities and will be subject to Federal income tax on the same amount,
in           the same manner and at the same times as would be the case if such deposit
and           Covenant Defeasance were not to occur.  

	 	        (4)          The
Company shall have delivered to the Trustee an Officers’ Certificate to
          the effect that neither such Securities nor any other Securities of the same
          series, if then listed on any securities exchange, will be delisted as a result
          of such deposit.  

	 	        (5)          No
event which is, or after notice or lapse of time or both would become, an           Event
of Default with respect to such Securities or any other Securities shall           have
occurred and be continuing at the time of such deposit or, with regard to           any
such event specified in Sections 501(7) and (8), at any time on or prior to           the
121st day after the date of such deposit (it being understood that this
          condition shall not be deemed satisfied until after such 121st day).  

	 	        (6)          Such
Defeasance or Covenant Defeasance shall not cause the Trustee to have a
          conflicting interest within the meaning of the Trust Indenture Act (assuming
all           Securities are in default within the meaning of such Act).  

	 	        (7)          Such
Defeasance or Covenant Defeasance shall not result in a breach or violation           of,
or constitute a default under, any other agreement or instrument to which           the
Company or any Subsidiary is a party or by which it is bound.  

	 	        (8)          At
the time of such deposit, (A) no default in the payment of any principal of           or
premium or interest on any Senior Debt of the Company or any Subsidiary
          Guarantor shall have occurred and be continuing, (B) no event of default with
          respect to any Senior Debt of the Company or any Subsidiary Guarantor shall
have           resulted in such Senior Debt becoming, and continuing to be, due and
payable           prior to the date on which it would otherwise have become due and
payable           (unless payment of such Senior Debt has been made or duly provided
for), and (C)           no other event of default with respect to any Senior Debt of the
Company or any           Subsidiary Guarantor shall have occurred and be continuing
permitting (after           notice or lapse of time or both) the holders of such Senior
Debt (or a trustee           on behalf of such holders) to declare such Senior Debt due
and payable prior to           the date on which it would otherwise have become due and
payable.  

80 

	 	        (9)          The
Company shall have delivered to the Trustee an Opinion of Counsel to the           effect
that such deposit shall not cause either the Trustee or the trust so           created to
be subject to the Investment Company Act of 1940.  

	 	        (10)          The
Company shall have delivered to the Trustee an Officers’ Certificate           and
an Opinion of Counsel, each stating that all conditions precedent with           respect
to such Defeasance or Covenant Defeasance have been complied with.  

SECTION 1505.     Deposited
Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous Provisions.  

        Subject
to the provisions of the last paragraph of Section 1003, all money and U.S. Government
Obligations (including the proceeds thereof) deposited with the Trustee or other
qualifying trustee (solely for purposes of this Section and Section 1506, the Trustee and
any such other trustee are referred to collectively as the “Trustee”) pursuant
to Section 1504 in respect of any Securities shall be held in trust and applied by the
Trustee, in accordance with the provisions of such Securities and this Indenture, to the
payment, either directly or through any such Paying Agent (including the Company acting as
its own Paying Agent) as the Trustee may determine, to the Holders of such Securities, of
all sums due and to become due thereon in respect of principal and any premium and
interest, but money so held in trust need not be segregated from other funds except to the
extent required by law. Money and U.S. Government Obligations so held in trust shall not
be subject to the provisions of Article Twelve or Article Fourteen. 

        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 1504
or the principal and interest received in respect thereof other than any such tax, fee or
other charge which by law is for the account of the Holders of Outstanding Securities. 

        Anything
in this Article to the contrary notwithstanding, the Trustee shall deliver or pay to the
Company from time to time upon Company Request any money or U.S. Government Obligations
held by it as provided in Section 1504 with respect to any Securities which, in the
opinion of a nationally recognized firm of independent public accountants expressed in a
written certification thereof delivered to the Trustee, are in excess of the amount
thereof which would then be required to be deposited to effect the Defeasance or Covenant
Defeasance, as the case may be, with respect to such Securities. 

SECTION 1506.     Reinstatement. 

        If
the Trustee or the Paying Agent is unable to apply any money in accordance with this
Article with respect to any Securities by reason of any order or judgment of any court or
governmental authority enjoining, restraining or otherwise prohibiting such application,
then the obligations under this Indenture and such Securities from which the Company has
been discharged or released pursuant to Section 1502 or 1503 shall be revived and
reinstated as though no deposit had occurred pursuant to this Article with respect to such
Securities, until such time as the Trustee or Paying Agent is permitted to apply all money
held in trust pursuant to Section 1505 with respect to such Securities in accordance with
this Article; provided, however, that if the Company makes any payment of principal of or
any premium or interest on any such Security following such reinstatement of its
obligations, the Company shall be subrogated to the rights (if any) of the Holders of such
Securities to receive such payment from the money so held in trust. 

81 

ARTICLE SIXTEEN

SINKING FUNDS  

SECTION 1601.     Applicability
of Article. 

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

        The
minimum amount of any sinking fund payment provided for by the terms of any Securities 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 such Securities is herein
referred to as an “optional sinking fund payment.” If provided for by the terms
of any Securities, the cash amount of any sinking fund payment may be subject to reduction
as provided in Section 1602. Each sinking fund payment shall be applied to the redemption
of Securities as provided for by the terms of such Securities. 

SECTION 1602.     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 (x) converted or (y) 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 any Securities of such series
required to be made pursuant to the terms of such Securities as and to the extent provided
for by the terms of such Securities; provided, however, that the Securities to be so
credited have not been previously so credited. The Securities to be so credited shall be
received and credited for such purpose by the Trustee at the Redemption Price, as
specified in the Securities so to be redeemed, for redemption through operation of the
sinking fund and the amount of such sinking fund payment shall be reduced accordingly. 

SECTION 1603.     Redemption
of Securities for Sinking Fund. 

        Not
less than 35 days prior to each sinking fund payment date for any Securities, the Company
will deliver to the Trustee an Officers’ Certificate specifying the amount of the
next ensuing sinking fund payment for such Securities pursuant to the terms of such
Securities, 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 pursuant to Section 1602 and will also deliver to the Trustee any Securities to
be so delivered. Not less than 32 days prior to 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. 

82 

        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. 

83 

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

		ISSUER:
	
 	GEHL COMPANY
	

 	By:____________________________
		Name:
		Title:
	
 x	SUBSIDIARY GUARANTORS:
		[INSERT SUBSIDIARY GUARANTORS]
	

 	By:____________________________
		Name:
		Title:
	
 	TRUSTEE:
	

 	____________________________,
		as Trustee
	
 	By:____________________________
		Name:__________________________
		Title:___________________________

84 

SCHEDULE I
SUBSIDIARY
GUARANTORS  

	SUBSIDIARY	STATE OF ORGANIZATION

[Insert Subsidiary
Guarantors]  

I-1

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