Document:

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                                                                     EXHIBIT 4.3

                           [FORM OF FACE OF SECURITY]

                               CELLCO PARTNERSHIP
                          VERIZON WIRELESS CAPITAL LLC

                              5.375% NOTE DUE 2006

                                                    PRINCIPAL AMOUNT
                                                    $_______________ as revised
                                                    by the Schedule of Increases
                                                    in Global Security attached
                                                    hereto.

No. [.]                                             CUSIP No.
                                                    [.]

                                                    ISIN No.
                                                    [.]

                    [Applicable Restricted Securities Legend]

                               [Depository Legend]

         CELLCO PARTNERSHIP, a Delaware general partnership (the "Partnership"),
and VERIZON WIRELESS CAPITAL LLC, a Delaware limited liability company
("Capital" and, together with the Partnership, the "Issuers", which terms
include any successor under the Indenture hereinafter referred to), for value
received, hereby jointly and severally promise to pay to CEDE & CO., or
registered assigns, the principal sum of ______________________ DOLLARS, as
revised by the Schedule of Increases and Decreases in Global Security attached
hereto, on December 15, 2006, and to pay interest thereon as provided below.

         Interest on this Note shall be paid semiannually on June 15 and
December 15, each an "interest payment date", of each year, commencing on June
15, 2002, at the rate per annum specified in the title of this Note from
December 17, 2001 or the most recent interest payment date to which interest had
been paid or duly provided for. Interest on this Note will be computed on the
basis of a 360-day year of twelve 30-day months.

         All references in the Indenture and this Note to interest shall be
deemed to include a reference to additional interest if payable pursuant to the
Registration Rights Agreement (including, without limitation, references to
interest in clause (1) of Section 501 of the Indenture). If additional interest
is payable on this Note as contemplated under the Registration Rights Agreement,
it shall be payable on each interest payment date and at maturity to the record
holder entitled to interest on such date.

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                                                                               2

         The interest so payable and punctually paid or duly provided for on any
interest payment date will as provided in the Indenture be paid to the Person in
whose name this Note (or one or more Predecessor Securities) is registered at
the close of business on the June 1 or December 1 preceding such interest
payment date (the "Record Date"). Payment of the principal of (and premium, if
any) and interest on this Note will be made 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 and as otherwise provided in the Indenture.

         Reference is hereby made to the further provisions of this Note 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 or
on behalf of First Union National Bank, the Trustee for this Note under the
Indenture, or its successor thereunder, by the manual signature of one of its
authorized officers, this Note shall not be entitled to any benefit under the
Indenture or be valid or obligatory for any purpose.

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                                                                             S-1

         IN WITNESS WHEREOF, the Issuers have caused this instrument to be duly
executed, manually or in facsimile.

Dated: December 17, 2001

                                                   CELLCO PARTNERSHIP

                                                   By:__________________________
                                                      Name:
                                                      Title:

                                                   VERIZON WIRELESS CAPITAL LLC

                                                   By:__________________________
                                                      Name:
                                                      Title:

CERTIFICATE OF AUTHENTICATION

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

FIRST UNION NATIONAL BANK,
    as Trustee

By:_____________________
   Authorized Officer

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                                (Reverse of Note)

                               CELLCO PARTNERSHIP
                          VERIZON WIRELESS CAPITAL LLC

         This Note is one of a duly authorized issue of Securities of the
Issuers designated as 5.375% Notes due 2006 (the "Notes"). The Notes are one of
an indefinite number of series of debt securities of the Issuers (the
"Securities"), issued or issuable under and pursuant to an indenture (the
"Indenture"), dated as of December 17, 2001, between the Issuers and First Union
National Bank (herein called the "Trustee," which term includes any successor
Trustee under the Indenture), to which Indenture and all indentures supplemental
thereto reference is hereby made for a statement of the respective rights
thereunder of the Issuers, the Trustee and the Holders of the Notes and the
terms upon which the Notes are to be authenticated and delivered. The terms of
this Note include those stated in the Indenture and those made part of the
Indenture by reference to the Trust Indenture Act of 1939, as amended. This Note
is one of a series designated on the face hereof and is not limited as to the
aggregate principal amount thereof. The terms of other series of Securities
issued under the Indenture may vary with respect to interest rates or interest
rate formulas, issue dates, maturity, redemption, repayment, currency of payment
and otherwise as provided in the Indenture. The Indenture further provides that
Securities of a single series may be issued at various times, with different
maturity dates and may bear interest at different rates. Holders of the Notes
are entitled to the benefits of the Exchange and Registration Rights Agreement,
dated as of December 17, 2001 (the "Registration Rights Agreement"), among the
Issuers and the initial purchasers named therein. The Notes, any related Private
Exchange Securities (as defined in the Registration Rights Agreement) and any
related Exchange Securities (as defined in the Registration Rights Agreement)
shall vote and consent together on all matters as one class, and none of such
securities shall have the right to vote or consent as a separate class.

         This Note is not subject to any sinking fund.

         If an Event of Default with respect to the Notes shall occur and be
continuing, then either the Trustee or the Holders of not less than 25% in
aggregate principal amount of the Notes of this series then Outstanding may
declare the entire principal amount of the Notes of this series due and payable
in the manner and with the effect provided in the Indenture.

         The Notes will be redeemable as a whole or in part, from time to time
at the option of the Issuers at any time, at a redemption price equal to the sum
of (1) 100% of their principal amount, plus accrued and unpaid interest on the
principal amount being redeemed to the redemption date, plus (2) the Make-Whole
Amount, if any.

         "Make-Whole Amount" means, in connection with any optional redemption
of the Notes, the excess if any, of (1) the aggregate present value as of the
date of such redemption of each dollar of principal being redeemed and the
amount of interest (exclusive of interest accrued to the redemption date) that
would have been payable in respect of such dollar if such prepayment had not
been made, determined by discounting, on a semi-annual basis, such

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                                                                               2

principal and interest at the Treasury Rate (determined on the Business Day
preceding the date of such redemption) plus 0.20% from the respective dates on
which such principal and interest would have been payable if such payment had
not been made, over (2) the principal amount of the Notes being redeemed.

         "Statistical Release" means the statistical release designated
"H.15(519)" or any successor publication which is published weekly by the
Federal Reserve System and which establishes yields on actively traded U.S.
government securities adjusted to constant maturities or, if such statistical
release is not published at the time of any determination, then such other
reasonably comparable index which shall be designated by the Partnership.

         "Treasury Rate" means, in connection with the calculation of any
Make-Whole Amount with respect to the Notes, the yield to maturity at the time
of computation of United States Treasury securities with a constant maturity, as
compiled by and published in the most recent Statistical Release that has become
publicly available at least two business days prior to the redemption date,
equal to the then remaining maturity of the Notes being prepaid. If no Treasury
security has a maturity that exactly corresponds to such maturity, yields for
the two published maturities most closely corresponding to such maturity shall
be calculated pursuant to the immediately preceding sentence and the Treasury
Rate shall be interpolated or extrapolated from such yields on a straight-line
basis, rounding in each of such relevant periods to the nearest month.

         The Indenture permits, with certain exceptions as therein provided, the
Issuers and the Trustee with the consent of the Holders of more than a majority
in aggregate principal amount of the Outstanding Securities of each series
issued under the Indenture to be affected thereby, to execute supplemental
indentures for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of the Indenture or of modifying in any
manner the rights of the Holders of such Securities and any related coupons
under the Indenture; provided, however, that no such supplemental indenture
shall, among other things, (i) 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, if any, or any premium
payable upon redemption thereof; change the currency or currency unit in which
any Security or the principal or interest thereon is payable; impair the right
to institute suit for the enforcement of any such payment on or after the Stated
Maturity thereof (or in the case of redemption on or after the Redemption Date);
impair any right of Holders of any Security to repay or purchase Securities at
their option; reduce or alter the method of computation of any amount payable
upon redemption, repayment or purchase of any Securities by the Issuers (or the
time when such redemption, repayment or purchase may be made), (ii) reduce the
percentage in principal amount of the Outstanding Securities of any particular
series, the Holders of which are required to consent to any supplemental
indenture, or any waiver or (iii) modify any of the provisions of Sections 513,
902 or 1005 of the Indenture, except to increase any such percentage or to
provide that certain other provisions of the Indenture cannot be modified or
waived without the consent of the Holder of each Security affected thereby;
provided, however, that this clause shall not be deemed to require the consent
of any Holder of a Security or coupon with respect to changes in the references
to "the Trustee" and concomitant changes in Sections 902 and 1005 of the
Indenture, or the deletion of this proviso, in accordance with the requirements
of Sections 609, 601l(b), 901(6) and 901(7) of the Indenture.

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                                                                               3

         A supplemental indenture which changes or eliminates any covenant or
other provision of the 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 the
Indenture of the Holders of Securities of any other series.

         The Indenture also contains provisions permitting the Holders of not
less than a majority in principal amount of the Outstanding Securities of any
particular series and any related coupons, on behalf of the Holders of all the
Securities of that series, to waive certain past defaults under the Indenture
and their consequences with respect to such series, except a default in the
payment of principal of (or premium, if any) or interest, if any, on any
Security of that series or a default with respect to a covenant or provision of
the Indenture which cannot be amended without the consent of such Holder.

         The Notes are issuable only in registered form without coupons in
denominations of $1,000 and integral multiples thereof. As provided in the
Indenture and subject to certain limitations therein set forth, the Notes are
exchangeable for a like aggregate principal amount of Notes as requested by the
Holder surrendering the same. Except as provided in the Indenture, if (x) the
Depositary is at any time unwilling or unable to continue as depository or if at
any time the Depositary shall no longer be eligible under Section 303 of the
Indenture and a successor depository is not appointed by the Issuers within 90
days after the Issuers receive such notice or becomes aware of such
ineligibility or (y) the Issuers deliver to the Trustee an Issuer Order of each
Issuer to the effect that this Note shall be exchangeable, this Note shall be
exchangeable for Notes in definitive form and in an equal aggregate principal
amount. In addition, interests herein transferred to an IAI shall be delivered
in the form of a definitive Note. Such definitive Notes shall be registered in
such name or names as the Depositary shall instruct the Trustee.

         As provided in the Indenture and subject to certain limitations set
forth therein and above, the transfer of this Note may be registered on the
Security Register of the Issuers, upon surrender of this Note for registration
of transfer at the office or agency of the Issuers in a Place of Payment, duly
endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Issuers and the Security Registrar duly executed by, the
Holder hereof or by his attorney duly authorized in writing, and thereupon one
or more new Notes of authorized denominations and of a like Stated Maturity and
of like series and the same aggregate principal amount, will be issued to the
designated transferee or transferees.

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

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

         Prior to due presentment of this Note for registration of transfer, the
Issuers or the Trustee and any agent of the Issuers or the Trustee may treat the
Person in whose name this Note

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is registered as the owner hereof for all purposes, whether or not this Note be
overdue, and neither the Issuers, the Trustee nor any such agent shall be
affected by notice to the contrary.

         Certain of the Issuers' obligations under the Indenture with respect to
Notes may be terminated if either of the Issuers irrevocably deposits with the
Trustee money or Government Obligations sufficient to pay and discharge the
entire indebtedness on all Notes, as provided in the Indenture.

         No recourse shall be had for the payment of the principal of (and
premium, if any), or the interest, if any, on this Note, or for any claim based
thereon, or upon any obligation, covenant or agreement of the Issuers in the
Indenture, against any partner, member, incorporator, stockholder, officer or
director, as such, past, present of future, of either Issuer or of any successor
or any of their assets, whether by virtue of any constitution, statute or rule
of law or by the enforcement of any assessment of penalty or otherwise; and all
such personal liability is expressly released and waived as a condition of, and
as part of the consideration for, the issuance of this Note.

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

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

<PAGE>

                                 ASSIGNMENT FORM

     To assign this Security, fill in the form below:

     I or we assign and transfer this Security to

            ________________________________________________________
              (Print or type assignee's name, address and zip code)

                 _______________________________________________
                  (Insert assignee's soc. sec. or tax I.D. No.)

     and irrevocably appoint ___________ agent to transfer this Security on the
     books of the Issuers. The agent may substitute another to act for him.

Date:____________________                   Your Signature: ____________________

Signature Guarantee: ___________________________________________________________
                                  (Signature must be guaranteed)

________________________________________________________________________________
Sign exactly as your name appears on the other side of this Security.

The signature(s) should be guaranteed by an eligible guarantor institution
(banks, stockbrokers, savings and loan associations and credit unions with
membership in an approved signature guarantee medallion program), pursuant to
S.E.C. Rule 17Ad-15.

In connection with any transfer or exchange of any of the Securities evidenced
by this certificate occurring prior to the date that is two years after the
later of the date of original issuance of such Securities and the last date, if
any, on which such Securities were owned by either of the Issuers or any
Affiliate of an Issuer, the undersigned confirms that such Securities are being:

CHECK ONE BOX BELOW:

1.   [_]   acquired for the undersigned's own account, without transfer; or

2.   [_]   transferred to the Partnership; or

3.   [_]   transferred pursuant to and in compliance with Rule 144A under the
           Securities Act of 1933, as amended (the "Securities Act"); or

4.   [_]   transferred pursuant to an effective registration statement under the
           Securities Act; or

5.   [_]   transferred pursuant to and in compliance with Regulation S under the
           Securities Act; or

6.   [_]   transferred to an institutional "accredited investor" (as defined in
           Rule 501(a)(1), (2), (3) or (7) under the Securities Act), in a

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                                                                               2

           transaction involving a minimum principal amount of $250,000 of
           Notes, that has furnished to the Trustee a signed certificate
           containing certain representations and agreements (the form of which
           letter appears in Section 307 of the Indenture); or

7.   [_]   transferred pursuant to another available exemption from the
           registration requirements of the Securities Act of 1933

Unless one of the boxes is checked, the Trustee will refuse to register any of
the Securities evidenced by this certificate in the name of any person other
than the registered Holder thereof; provided, however, that if box (5), (6) or
(7) is checked, the Trustee or the Issuers may require, prior to registering any
such transfer of the Securities, in their sole discretion, such legal opinions,
certifications and other information as the Trustee or the Issuers may
reasonably request to confirm that such transfer is being made pursuant to an
exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act of 1933.

                                                  ______________________________
                                                  Signature

Signature Guarantee:

______________________________              ____________________________________
(Signature must be guaranteed)              Signature

________________________________________________________________________________

The signature(s) should be guaranteed by an eligible guarantor institution
(banks, stockbrokers, savings and loan associations and credit unions with
membership in an approved signature guarantee medallion program), pursuant to
S.E.C. Rule 17Ad-15.

TO BE COMPLETED BY PURCHASER IF (3) ABOVE IS CHECKED.

     The undersigned represents and warrants that it is purchasing this Security
for its own account or an account with respect to which it exercises sole
investment discretion and that it and any such account is a "qualified
institutional buyer" within the meaning of Rule 144A under the Securities Act of
1933, as amended, and is aware that the sale to it is being made in reliance on
Rule 144A and acknowledges that it has received such information regarding the
Issuers as the undersigned has requested pursuant to Rule 144A or has determined
not to request such information and that it is aware that the transferor is
relying upon the undersigned's foregoing representations in order to claim the
exemption from registration provided by Rule 144A.

________________________
Dated:

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                                                                               3

              SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY

     The following increases or decreases in this Global Security
have been made:

<TABLE>
                                                  Amount of increase         Principal Amount of this      Signature of authorized
 Date of     Amount of decrease in Principal      in Principal Amount        Global Security following     signatory of Trustee or
 Exchange    Amount of this Global Security       of this Global Security    such decrease or increase     Securities Custodian
----------   --------------------------------   -------------------------   ---------------------------   -------------------------
<S>          <C>                                <C>                         <C>                           <C>
</TABLE><PAGE>

                                                                    Exhibit 4(c)

           _________________________________________________________

                          SUPPLEMENTAL INDENTURE NO. 7

                                       BY

                                       AND

                                     BETWEEN

                             McDONALD'S CORPORATION

                                       AND

                       WACHOVIA BANK, NATIONAL ASSOCIATION
                     (formerly, First Union National Bank),
                                   as Trustee

                                ________________

                                Dated, [ ], 2002

                                ________________

                SUPPLEMENTAL TO SENIOR DEBT SECURITIES INDENTURE
                          DATED, AS OF OCTOBER 19, 1996

            _________________________________________________________

<PAGE>

                             McDONALD'S CORPORATION
                          SUPPLEMENTAL INDENTURE NO. 7
                                Dated, [ ], 2002
                                    Series of
                           Medium-Term Notes, Series H
                                 $1,975,000,000

          Supplemental Indenture No. 7, dated [ ], 2002, by and between
McDONALD'S CORPORATION, a corporation organized and existing under the laws of
the State of Delaware (hereinafter sometimes referred to as the "Company"), and
WACHOVIA BANK, NATIONAL ASSOCIATION (formerly, First Union National Bank, a
national banking association), authorized to accept and execute trusts
(hereinafter sometimes referred to as the "Trustee"),

                              W I T N E S S E T H:

          WHEREAS, The Company and the Trustee have executed and delivered a
Senior Debt Securities Indenture, dated, as of October 19, 1996 (as amended or
supplemented from time to time, the "Indenture");

          WHEREAS, Section 10.01 of the Indenture provides for the Company, when
authorized by its Board of Directors, and the Trustee to enter into an indenture
supplemental to the Indenture to establish the form or terms of Debt Securities,
as permitted by Sections 2.01 and 2.02 of the Indenture; and

          WHEREAS, Sections 2.01 and 2.02 of the Indenture provide for Debt
Securities of any series to be established pursuant to an indenture supplemental
to the Indenture;

NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH:

          For and in consideration of the premises and the purchase of the
series of Debt Securities provided for herein, it is mutually covenanted and
agreed, for the equal and proportionate benefit of all Holders of such series of
Debt Securities, as follows:

                                   ARTICLE ONE
                       RELATION TO INDENTURE; DEFINITIONS

          SECTION 1.01. This Supplemental Indenture No. 7 constitutes an
integral part of the Indenture.

          SECTION 1.02. (a) For all purposes of this Supplemental Indenture No.
7, except as otherwise expressly provided or unless the context otherwise
requires, all capitalized terms used and not defined herein shall have the
meanings assigned to them in the Indenture or in Exhibits A and B hereto.

<PAGE>

          (b)  All references herein to Articles and Sections, unless otherwise
specified, refer to the corresponding Articles and Sections of this Supplemental
Indenture No. 7; and

          (c)  The terms "hereof," "herein," "hereto," "hereunder" and
"herewith" refer to this Supplemental Indenture No. 7.

                                   ARTICLE TWO
                          THE SERIES OF DEBT SECURITIES

          SECTION 2.01. (a) There shall be a series of Debt Securities issuable
in registered form (the "Notes") limited to an aggregate initial public offering
price or purchase price of $1,975,000,000, or the equivalent thereof in one or
more foreign currencies, including the Euro, as designated by the Company (the
"Specified Currency"). The Notes shall be designated the "Medium-Term Notes,
Series H, Due from 1 Year to 60 Years from Date of Issue".

          (b)  Each Note shall bear interest either at a fixed rate (a "Fixed
Rate Note"), which may be zero in the case of Original Issue Discount Notes (as
defined below), or at a floating rate (a "Floating Rate Note") or at a rate
determined by reference to an Index (as defined below) in the case of certain
Indexed Notes (as defined below).

          SECTION 2.02. Fixed Rate Notes and Floating Rate Notes shall contain
substantially the terms and provisions set forth in either the form of Series H
Fixed Rate Note or the form of Series H Floating Rate Note attached hereto as
Exhibits A and B, respectively, or such other forms of Notes specified in an
Officers' Certificate pursuant to duly adopted resolutions of the Board of
Directors of the Company. All of the terms and provisions of such Notes are
hereby incorporated by reference herein.

          SECTION 2.03. In addition to the terms described in Section 2.02, a
Note shall contain the following terms to be specified in a Pricing Supplement:

               (a)  the principal amount and Specified Currency for such Note
          (and, if the Specified Currency is other than U.S. dollars, certain
          other terms relating to such Note and such Specified Currency,
          including the authorized denominations of such Note); (b) whether such
          Note is a Fixed Rate Note, Floating Rate Note or an Indexed Note (as
          defined below) as to which interest is determined by reference to an
          Index; (c) the price (expressed as a percentage of the aggregate
          principal amount thereof) at which such Note will be issued (the
          "Issue Price"); (d) the date on which such Note will be issued (the
          "Original Issue Date"); (e) the date on which such Note will mature
          (the "Stated Maturity"); (f) if such Note is a Fixed Rate Note, the
          rate per annum at which such Note will bear interest, if any, and the
          dates on which interest will be payable if other than February 15 and
          August 15 (each an "Interest Payment Date"); (g) if such Note is a
          Floating Rate Note, the Base Rate, the Initial

                                       3

<PAGE>

          Interest Rate, the Interest Reset Period, the Interest Payment Dates,
          the Maximum Interest Rate, if any, the Minimum Interest Rate, if any,
          the Spread or Spread Multiplier, if any (all as defined in Sections
          2.02 and 2.06 herein), and any other terms relating to the particular
          method of calculating the interest rate for such Note; (h) whether
          such Note is an Original Issue Discount Note; (i) if such Note is an
          Indexed Note, the manner in which the principal amount of the Note
          payable at Stated Maturity and/or the interest amount payable will be
          determined (other than as described in Section 2.07 hereof); (j)
          whether such Note may be redeemed at the option of the Company, or
          repaid at the option of the Holder, prior to Stated Maturity and, if
          so, the provisions (other than the redemption and prepayment
          provisions specified in Sections 2.02 hereof) relating to such
          redemption or repayment, including, in the case of an Original Issue
          Discount Note, Indexed Note or Amortizing Note (as defined below), the
          information necessary to determine the amount due upon redemption or
          repayment; (k) if such Note is an Amortizing Note, information
          necessary to determine the repayment schedule, including the manner in
          which payments thereon will be applied to interest and the reduction
          of unpaid principal; and (l) any other terms of such Note not
          inconsistent with the provisions of the Indenture.

          SECTION 2.04. Bank One Trust Company, N.A., One Bank One Plaza,
Chicago, Illinois, is hereby initially appointed as Authenticating Agent,
Registrar, Paying Agent and Calculation Agent with respect to the Notes.

          SECTION 2.05. With respect to any Notes issued hereunder, (a) the term
"Original Issue Discount Note" shall mean (i) a Note, including any such Note
whose interest rate is zero, that has a stated redemption price at maturity that
exceeds its Issue Price by at least 0.25% of its aggregate principal amount,
multiplied by the number of full years from the Original Issue Date to the
Stated Maturity of such Note; and (ii) any other Note designated by the Company
as issued with original issue discount for U.S. federal income tax purposes; and
(b) the term "Yield to Stated Maturity" shall mean the yield to Stated Maturity,
calculated at the time of issuance of the Notes or, if applicable, at the most
recent redetermination of interest on such Notes and calculated in accordance
with accepted financial practice.

          SECTION 2.06. (a) With respect to any Notes hereunder, the term
"Indexed Note" shall mean a Note, the principal amount payable at Stated
Maturity of which (the "Indexed Principal Amount") and/or the interest amount
payable on which is determined by reference to a measure (the "Index") which
will be related to (i) the rate of exchange between the Specified Currency for
such Note and the other currency or composite currency (the "Index Currency")
specified in such Indexed Note (such Indexed Note, "Currency Indexed Note");
(ii) the difference in the price of a specified commodity (the "Indexed
Commodity") on specified dates (such Indexed Note, "Commodity Indexed Note");
(iii) the difference in the level of a specified stock index (the "Stock
Index"), which may be based on U.S. or foreign stocks, on specified dates

                                       4

<PAGE>

(such Indexed Note, "Stock Indexed Note"); or (iv) such other objective price or
economic measures as are described in such Indexed Note.

          (b)  Unless otherwise specified in an Indexed Note, interest on such
Indexed Note will be payable by the Company based on the amount designated
therein as the "Face Amount" of such Indexed Note. Such Indexed Note will
describe whether the principal amount of such Indexed Note that would be payable
upon redemption or repayment prior to Stated Maturity will be the Face Amount of
such Indexed Note, the Indexed Principal Amount of such Indexed Note at the time
of redemption or repayment, or another amount described in such Indexed Note.

          SECTION 2.07. With respect to any Notes hereunder, the term
"Amortizing Notes" shall mean any Note, payments in respect of which represent
interest due and the reduction of unpaid principal, as provided in such
Amortizing Note.

          SECTION 2.08. Any interest on any Note which is payable, but is not
punctually paid or duly provided for, on any Interest Payment Date (herein
called "Defaulted Interest") shall forthwith cease to be payable to the Holder
on the relevant Regular Record Date by virtue of having been such Holder; and
such Defaulted Interest may be paid by the Company, at its election in each
case, as provided in clause (a) and clause (b) below:

               (a)  The Company may elect to make payment of any Defaulted
          Interest to the Persons in whose names the Notes are registered at the
          close of business on a special record date ("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 Note and
          the date of the proposed payment, and at the same time the Company
          shall deposit with the Trustee or any paying agent designated by the
          Company 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 or with any paying agent
          designated by the Company 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 Section provided. Thereupon the Trustee shall fix a Special
          Record Date for the payment of such Defaulted Interest which shall be
          not more than 15 nor less than 10 days prior to the date of the
          proposed payment and not less than 10 days after the receipt by the
          Trustee of the notice of the proposed payment. The Trustee shall
          promptly notify the Company of such Special Record Date and, in the
          name and at the expense of the Company, shall cause notice of the
          proposed payment of such Defaulted Interest and the Special Record
          Date therefor to be mailed, first class postage prepaid, to each
          Holder of Notes at his address as it appears in the Debt Security
          Register, not less than 10 days prior to such Special Record Date.
          Notice of the proposed payment of such Defaulted Interest and the
          Special Record Date therefor having been mailed as aforesaid, such
          Defaulted Interest shall be paid to the Persons in

                                       5

<PAGE>

          whose names the Notes are registered on such Special Record Date and
          shall no longer be payable pursuant to the following clause (b).

               (b)  The Company may make payment of any Defaulted Interest in
          any other lawful manner not inconsistent with the requirements of any
          securities exchange on which the Notes 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 payment shall be deemed practicable by the Trustee.

               (c)  Subject to the foregoing provisions of this Section, each
          Note delivered under this Supplemental Indenture No. 7 upon transfer
          of or in exchange for or in lieu of any other Note shall carry the
          rights to interest accrued and unpaid, and to accrue, which were
          carried by such other Note.

          SECTION 2.09. The Place of Payment for the Notes shall be both The
City of New York, New York, and the City of Philadelphia, Pennsylvania.

          SECTION 2.10. The terms and provisions contained in the form of the
Notes attached as Exhibits A and B hereto shall constitute, and are hereby
expressly made, a part of the Indenture and, to the extent applicable, the
Company and the Trustee, by their execution and delivery hereof, expressly agree
to such terms and provisions and to be bound thereby.

                                  ARTICLE THREE
                                  MISCELLANEOUS

          SECTION 3.01. The recitals of fact herein and in the Notes shall be
taken as statements of the Company and shall not be construed as made by the
Trustee.

          SECTION 3.02. This Supplemental Indenture No. 7 shall be construed in
connection with and as a part of the Indenture.

          SECTION 3.03. (a) If any provision of this Supplemental Indenture No.
7 limits, qualifies or conflicts with another provision of the Indenture
required to be included in indentures qualified under the Trust Indenture Act of
1939 (as in effect on the date of this Supplemental Indenture No. 7) by any of
the provisions of Sections 310 to 317, inclusive, of the Trust Indenture Act of
1939, such required provisions shall control.

          (b)  In case any one or more of the provisions contained in this
Supplemental Indenture No. 7 or in the Notes issued hereunder should be invalid,
illegal or unenforceable in any respect, the validity, legality and
enforceability of the remaining provisions contained herein and therein shall
not in any way be affected, impaired, prejudiced or disturbed thereby.

                                       6

<PAGE>

          SECTION 3.04. Whenever in this Supplemental Indenture No. 7 either of
the parties hereto is named or referred to, this shall be deemed to include the
successors or assigns of such party, and all the covenants and agreements in
this Supplemental Indenture No. 7 contained by or on behalf of the Company or by
or on behalf of the Trustee shall bind and inure to the benefit of the
respective successors and assigns of such parties, whether so expressed or not.
Nothing in this Supplemental Indenture No. 7 or the Notes, expressed or implied,
shall give to any Person, other than the parties hereto, their successors
hereunder and the Holders of the Notes, any benefit or any legal or equitable
right, remedy or claim under this Supplemental Indenture No. 7.

          SECTION 3.05. (a) This Supplemental Indenture No. 7 may be executed in
any number of counterparts, each of which so executed shall be deemed an
original, but all such counterparts shall together constitute but one and the
same instrument.

         (b)   The descriptive headings of the several Articles of this
Supplemental Indenture No. 7 were formulated, used and inserted herein for
convenience only and shall not be deemed to affect the meaning or construction
of any of the provisions hereof.

                                       7

<PAGE>

          IN WITNESS WHEREOF, McDONALD'S CORPORATION has caused this
Supplemental Indenture No. 7 to be signed, acknowledged and delivered by its
President, Executive Vice President and Chief Financial Officer or Senior Vice
President and Treasurer and its corporate seal to be affixed hereunto and the
same to be attested by its Secretary or Assistant Secretary, and WACHOVIA BANK,
NATIONAL ASSOCIATION, as Trustee, has caused this Supplemental Indenture No. 7
to be signed, acknowledged and delivered by one of its Vice Presidents, and its
seal to be affixed hereunto and the same to be attested by one of its Authorized
Officers, all as of the day and year first written above.

                                         McDONALD'S CORPORATION

[CORPORATE SEAL]

                                         By: __________________________
                                             Michael D. Richard
                                             Senior Vice President and Treasurer

Attest:

______________________________
Secretary

                                         WACHOVIA BANK,
                                         NATIONAL ASSOCIATION
                                         as Trustee

[CORPORATE SEAL]

                                         By: __________________________
                                             Vice President

Attest:

______________________________
Authorized Officer

                                       8

<PAGE>

STATE OF ILLINOIS  )
                   ) SS:
COUNTY OF DuPAGE   )

          On the ___ day of ______________, in the year two thousand two, before
me appeared Michael D. Richard to me personally known, who, being by me duly
sworn, did say that he resides in Chicago, Illinois, that he is a Senior Vice
President and Treasurer of McDONALD'S CORPORATION, one of the corporations
described in and which executed the above instrument; that he knows the seal of
said corporation, that the seal affixed to said instrument is such corporate
seal; that it was so affixed by authority of the Board of Directors of said
corporation; and that he signed his name thereto by like authority.

_______________________________
Notary Public

                                       9

<PAGE>

STATE OF PENNSYLVANIA   )
                        ) SS:
COUNTY OF               )

          On the ___ day of ______________, in the year two thousand two, before
me appeared ___________ to be personally known, who, being by me duly sworn, did
say that he resides at ______________, that he is a Vice President of WACHOVIA
BANK, NATIONAL ASSOCIATION one of the corporations described in and which
executed the above instrument; that he knows the seal of said corporation; that
the seal affixed to said instrument is such corporate seal; that it was so
affixed by authority of the Board of Directors of said corporation; and that he
signed his name thereto by like authority.

_______________________________
Notary Public

                                       10

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