Document:

Exhibit 4.3

 

NOVA
BIOSOURCE FUELS, INC. AND THE GUARANTORS NAMED HEREIN

Senior
Subordinated Debt Securities

Indenture

Dated
as of               ,
      , 

                             , Trustee

CROSS-REFERENCE
TABLE

This
Cross-Reference Table is not a part of the Indenture.

	
  TIA Section

  	
   

  	
  Indenture Section

  
	
   

  	
   

  	
   

  
	
  310(a)(1)

  	
   

  	
  7.10

  
	
  (a)(2)

  	
   

  	
  7.10

  
	
  (a)(3)

  	
   

  	
  N.A.

  
	
  (a)(4)

  	
   

  	
  N.A.

  
	
  (b)

  	
   

  	
  7.08; 7.10; 11.02

  
	
  311(a)

  	
   

  	
  7.11

  
	
  (b)

  	
   

  	
  7.11

  
	
  (c)

  	
   

  	
  N.A.

  
	
  312(a)

  	
   

  	
  2.05

  
	
  (b)

  	
   

  	
  11.03

  
	
  (c)

  	
   

  	
  11.03

  
	
  313(a)

  	
   

  	
  7.06

  
	
  (b)(1)

  	
   

  	
  N.A.

  
	
  (b)(2)

  	
   

  	
  7.06

  
	
  (c)

  	
   

  	
  11.02

  
	
  (d)

  	
   

  	
  7.06

  
	
  314(a)

  	
   

  	
  4.02; 11.02

  
	
  (b)

  	
   

  	
  N.A.

  
	
  (c)(1)

  	
   

  	
  11.04

  
	
  (c)(2)

  	
   

  	
  11.04

  
	
  (c)(3)

  	
   

  	
  N.A.

  
	
  (d)

  	
   

  	
  N.A.

  
	
  (e)

  	
   

  	
  11.05

  
	
  315(a)

  	
   

  	
  7.01(b)

  
	
  (b)

  	
   

  	
  7.05; 11.02

  
	
  (c)

  	
   

  	
  7.01(a)

  
	
  (d)

  	
   

  	
  7.01(c)

  
	
  (e)

  	
   

  	
  6.11

  

 

 1
 

 

	
  316(a)(last sentence)

  	
   

  	
  11.06

  
	
  (a)(1)(A)

  	
   

  	
  6.05

  
	
  (a)(1)(B)

  	
   

  	
  6.04

  
	
  (a)(2)

  	
   

  	
  N.A.

  
	
  (b)

  	
   

  	
  6.07

  
	
  317(a)(1)

  	
   

  	
  6.08

  
	
  (a)(2)

  	
   

  	
  6.09

  
	
  (b)

  	
   

  	
  2.04

  
	
  318(a)

  	
   

  	
  11.01

  

 

N.A. means Not Applicable.

 2

TABLE OF CONTENTS

	
  

  	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE ONE

  	
   

  	
  DEFINITIONS AND INCORPORATION BY REFERENCE

  	
   

  	
  1

  
	
  Section 1.01

  	
   

  	
  Definitions

  	
   

  	
  1

  
	
  Section 1.02

  	
   

  	
  Other Definitions

  	
   

  	
  9

  
	
  Section 1.03

  	
   

  	
  Incorporation by Reference of Trust Indenture Act

  	
   

  	
  9

  
	
  Section 1.04

  	
   

  	
  Rules of Construction

  	
   

  	
  9

  
	
  ARTICLE TWO

  	
   

  	
  THE SECURITIES

  	
   

  	
  10

  
	
  Section 2.01

  	
   

  	
  Form and Dating

  	
   

  	
  10

  
	
  Section 2.02

  	
   

  	
  Execution and Authentication

  	
   

  	
  11

  
	
  Section 2.03

  	
   

  	
  Registrar and Paying Agent

  	
   

  	
  12

  
	
  Section 2.04

  	
   

  	
  Paying Agent to Hold Money in Trust

  	
   

  	
  12

  
	
  Section 2.05

  	
   

  	
  Securityholder Lists

  	
   

  	
  12

  
	
  Section 2.06

  	
   

  	
  Transfer and Exchange

  	
   

  	
  12

  
	
  Section 2.07

  	
   

  	
  Replacement Securities

  	
   

  	
  13

  
	
  Section 2.08

  	
   

  	
  Outstanding Securities

  	
   

  	
  13

  
	
  Section 2.09

  	
   

  	
  Temporary Securities

  	
   

  	
  13

  
	
  Section 2.10

  	
   

  	
  Cancellation

  	
   

  	
  14

  
	
  Section 2.11

  	
   

  	
  Defaulted Interest

  	
   

  	
  14

  
	
  Section 2.12

  	
   

  	
  Treasury Securities

  	
   

  	
  14

  
	
  Section 2.13

  	
   

  	
  CUSIP Numbers

  	
   

  	
  14

  
	
  Section 2.14

  	
   

  	
  Deposit of Moneys

  	
   

  	
  15

  
	
  Section 2.15

  	
   

  	
  Book-Entry Provisions for Global Security

  	
   

  	
  15

  
	
  ARTICLE THREE

  	
   

  	
  REDEMPTION

  	
   

  	
  16

  
	
  Section 3.01

  	
   

  	
  Notices to Trustee

  	
   

  	
  16

  
	
  Section 3.02

  	
   

  	
  Selection of Securities to be Redeemed

  	
   

  	
  16

  
	
  Section 3.03

  	
   

  	
  Notice of Redemption

  	
   

  	
  17

  
	
  Section 3.04

  	
   

  	
  Effect of Notice of Redemption

  	
   

  	
  17

  
	
  Section 3.05

  	
   

  	
  Deposit of Redemption Price

  	
   

  	
  17

  
	
  Section 3.06

  	
   

  	
  Securities Redeemed in Part

  	
   

  	
  17

  
	
  ARTICLE FOUR

  	
   

  	
  COVENANTS

  	
   

  	
  18

  
	
  Section 4.01

  	
   

  	
  Payment of Securities

  	
   

  	
  18

  

 

 i
 

 

	
  

  	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 4.02

  	
   

  	
  Maintenance of Office or Agency

  	
   

  	
  18

  
	
  Section 4.03

  	
   

  	
  Compliance Certificate

  	
   

  	
  18

  
	
  Section 4.04

  	
   

  	
  Payment of Taxes; Maintenance of Corporate
  Existence; Maintenance of Properties

  	
   

  	
  18

  
	
  Section 4.05

  	
   

  	
  Additional Guarantors

  	
   

  	
  19

  
	
  Section 4.06

  	
   

  	
  Limitation on Senior Subordinated Indebtedness

  	
   

  	
  19

  
	
  ARTICLE FIVE

  	
   

  	
  SUCCESSOR CORPORATION

  	
   

  	
  20

  
	
  Section 5.01

  	
   

  	
  When Company May Merge, etc

  	
   

  	
  20

  
	
  ARTICLE SIX

  	
   

  	
  DEFAULTS AND REMEDIES

  	
   

  	
  20

  
	
  Section 6.01

  	
   

  	
  Events of Default

  	
   

  	
  20

  
	
  Section 6.02

  	
   

  	
  Acceleration

  	
   

  	
  22

  
	
  Section 6.03

  	
   

  	
  Other Remedies

  	
   

  	
  22

  
	
  Section 6.04

  	
   

  	
  Waiver of Existing Defaults

  	
   

  	
  23

  
	
  Section 6.05

  	
   

  	
  Control by Majority

  	
   

  	
  23

  
	
  Section 6.06

  	
   

  	
  Limitation on Suits

  	
   

  	
  23

  
	
  Section 6.07

  	
   

  	
  Rights of Holders to Receive Payment

  	
   

  	
  24

  
	
  Section 6.08

  	
   

  	
  Collection Suit by Trustee

  	
   

  	
  24

  
	
  Section 6.09

  	
   

  	
  Trustee May File Proofs of Claim

  	
   

  	
  24

  
	
  Section 6.10

  	
   

  	
  Priorities

  	
   

  	
  24

  
	
  Section 6.11

  	
   

  	
  Undertaking for Costs

  	
   

  	
  24

  
	
  ARTICLE SEVEN

  	
   

  	
  TRUSTEE

  	
   

  	
  25

  
	
  Section 7.01

  	
   

  	
  Duties of Trustee

  	
   

  	
  25

  
	
  Section 7.02

  	
   

  	
  Rights of Trustee

  	
   

  	
  26

  
	
  Section 7.03

  	
   

  	
  Individual Rights of Trustee

  	
   

  	
  27

  
	
  Section 7.04

  	
   

  	
  Trustee’s Disclaimer

  	
   

  	
  27

  
	
  Section 7.05

  	
   

  	
  Notice of Defaults

  	
   

  	
  27

  
	
  Section 7.06

  	
   

  	
  Reports by Trustee to Holders

  	
   

  	
  27

  
	
  Section 7.07

  	
   

  	
  Compensation and Indemnity

  	
   

  	
  28

  
	
  Section 7.08

  	
   

  	
  Replacement of Trustee

  	
   

  	
  28

  
	
  Section 7.09

  	
   

  	
  Successor Trustee by Merger, etc

  	
   

  	
  29

  
							

 

 ii
 

 

	
  

  	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 7.10

  	
   

  	
  Eligibility; Disqualification

  	
   

  	
  29

  
	
  Section 7.11

  	
   

  	
  Preferential Collection of Claims Against Company

  	
   

  	
  29

  
	
  ARTICLE EIGHT

  	
   

  	
  DISCHARGE OF INDENTURE

  	
   

  	
  29

  
	
  Section 8.01

  	
   

  	
  Defeasance upon Deposit of Moneys or U.S. Government
  Obligations

  	
   

  	
  29

  
	
  Section 8.02

  	
   

  	
  Survival of the Company’s Obligations

  	
   

  	
  32

  
	
  Section 8.03

  	
   

  	
  Application of Trust Money

  	
   

  	
  32

  
	
  Section 8.04

  	
   

  	
  Repayment to the Company

  	
   

  	
  32

  
	
  Section 8.05

  	
   

  	
  Reinstatement

  	
   

  	
  33

  
	
  ARTICLE NINE

  	
   

  	
  GUARANTEES

  	
   

  	
  33

  
	
  Section 9.01

  	
   

  	
  Unconditional Guarantees

  	
   

  	
  33

  
	
  Section 9.02

  	
   

  	
  Severability

  	
   

  	
  34

  
	
  Section 9.03

  	
   

  	
  Release of a Guarantor

  	
   

  	
  34

  
	
  Section 9.04

  	
   

  	
  Limitation of a Subsidiary Guarantor’s Liability

  	
   

  	
  35

  
	
  Section 9.05

  	
   

  	
  Guarantors May Consolidate, etc., on Certain Terms

  	
   

  	
  35

  
	
  Section 9.06

  	
   

  	
  Contribution

  	
   

  	
  35

  
	
  Section 9.07

  	
   

  	
  Waiver of Subrogation

  	
   

  	
  35

  
	
  Section 9.08

  	
   

  	
  Execution of Guarantee

  	
   

  	
  36

  
	
  ARTICLE TEN

  	
   

  	
  AMENDMENTS, SUPPLEMENTS AND WAIVERS

  	
   

  	
  37

  
	
  Section 10.01

  	
   

  	
  Without Consent of Holders

  	
   

  	
  37

  
	
  Section 10.02

  	
   

  	
  With Consent of Holders

  	
   

  	
  37

  
	
  Section 10.03

  	
   

  	
  Compliance with Trust Indenture Act

  	
   

  	
  38

  
	
  Section 10.04

  	
   

  	
  Revocation and Effect of Consents

  	
   

  	
  38

  
	
  Section 10.05

  	
   

  	
  Notation on or Exchange of Securities

  	
   

  	
  39

  
	
  Section 10.06

  	
   

  	
  Trustee to Sign Amendments, etc

  	
   

  	
  39

  
	
  ARTICLE ELEVEN

  	
   

  	
  MISCELLANEOUS

  	
   

  	
  39

  
	
  Section 11.01

  	
   

  	
  Trust Indenture Act Controls

  	
   

  	
  39

  
	
  Section 11.02

  	
   

  	
  Notices

  	
   

  	
  39

  
	
  Section 11.03

  	
   

  	
  Communications by Holders with Other Holders

  	
   

  	
  40

  
	
  Section 11.04

  	
   

  	
  Certificate and Opinion as to Conditions Precedent

  	
   

  	
  40

  
							

 

 iii
 

 

	
  

  	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 11.05

  	
   

  	
  Statements Required in Certificate or Opinion

  	
   

  	
  41

  
	
  Section 11.06

  	
   

  	
  Rules by Trustee and Agents

  	
   

  	
  41

  
	
  Section 11.07

  	
   

  	
  Legal Holidays

  	
   

  	
  41

  
	
  Section 11.08

  	
   

  	
  Governing Law

  	
   

  	
  41

  
	
  Section 11.09

  	
   

  	
  No Adverse Interpretation of Other Agreements

  	
   

  	
  41

  
	
  Section 11.10

  	
   

  	
  No Recourse Against Others

  	
   

  	
  42

  
	
  Section 11.11

  	
   

  	
  Successors and Assigns

  	
   

  	
  42

  
	
  Section 11.12

  	
   

  	
  Duplicate Originals

  	
   

  	
  42

  
	
  Section 11.13

  	
   

  	
  Severability

  	
   

  	
  42

  
	
  ARTICLE TWELVE

  	
   

  	
  SUBORDINATION OF SECURITIES

  	
   

  	
  42

  
	
  Section 12.01

  	
   

  	
  Securities Subordinated to Senior Indebtedness

  	
   

  	
  42

  
	
  Section 12.02

  	
   

  	
  No Payment on Securities in Certain Circumstances

  	
   

  	
  42

  
	
  Section 12.03

  	
   

  	
  Payment Over of Proceeds upon Dissolution, etc

  	
   

  	
  43

  
	
  Section 12.04

  	
   

  	
  Subrogation

  	
   

  	
  44

  
	
  Section 12.05

  	
   

  	
  Obligations of Company Unconditional

  	
   

  	
  45

  
	
  Section 12.06

  	
   

  	
  Notice to Trustee

  	
   

  	
  45

  
	
  Section 12.07

  	
   

  	
  Reliance on Judicial Order or Certificate of
  Liquidating Agent

  	
   

  	
  46

  
	
  Section 12.08

  	
   

  	
  Trustee’s Relation to Senior Indebtedness

  	
   

  	
  46

  
	
  Section 12.09

  	
   

  	
  Subordination Rights Not Impaired by Acts or
  Omissions of the Company or Holders of Senior Indebtedness

  	
   

  	
  47

  
	
  Section 12.10

  	
   

  	
  Securityholders Authorize Trustee To Effectuate
  Subordination of Securities

  	
   

  	
  47

  
	
  Section 12.11

  	
   

  	
  This Article Not to Prevent Events of Default

  	
   

  	
  47

  
	
  Section 12.12

  	
   

  	
  Trustee’s Compensation Not Prejudiced

  	
   

  	
  47

  
	
  Section 12.13

  	
   

  	
  No Waiver of Subordination Provisions

  	
   

  	
  47

  
	
  Section 12.14

  	
   

  	
  Certain Payments May Be Paid Prior to Dissolution

  	
   

  	
  48

  
	
  ARTICLE THIRTEEN

  	
   

  	
  SUBORDINATION OF GUARANTEE

  	
   

  	
  48

  
	
  Section 13.01

  	
   

  	
  Guarantee Obligations Subordinated to Guarantor
  Senior Indebtedness

  	
   

  	
  48

  
	
  Section 13.02

  	
   

  	
  No Payment on Guarantees in Certain Circumstances

  	
   

  	
  48

  
	
  Section 13.03

  	
   

  	
  Payment Over of Proceeds upon Dissolution, etc

  	
   

  	
  50

  
							

 

 iv
 

 

	
  

  	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 13.04

  	
   

  	
  Subrogation

  	
   

  	
  51

  
	
  Section 13.05

  	
   

  	
  Obligations of Guarantors Unconditional

  	
   

  	
  51

  
	
  Section 13.06

  	
   

  	
  Notice to Trustee

  	
   

  	
  52

  
	
  Section 13.07

  	
   

  	
  Reliance on Judicial Order or Certificate of
  Liquidating Agent

  	
   

  	
  53

  
	
  Section 13.08

  	
   

  	
  Trustee’s Relation to Guarantor Senior Indebtedness

  	
   

  	
  53

  
	
  Section 13.09

  	
   

  	
  Subordination Rights Not Impaired by Acts or
  Omissions of the Guarantors or Holders of Guarantor Senior Indebtedness

  	
   

  	
  53

  
	
  Section 13.10

  	
   

  	
  Securityholders Authorize Trustee to Effectuate
  Subordination of Guarantee

  	
   

  	
  54

  
	
  Section 13.11

  	
   

  	
  This Article Not to Prevent Events of Default

  	
   

  	
  54

  
	
  Section 13.12

  	
   

  	
  Trustee’s Compensation Not Prejudiced

  	
   

  	
  54

  
	
  Section 13.13

  	
   

  	
  No Waiver of Guarantee Subordination Provisions

  	
   

  	
  54

  
	
  Section 13.14

  	
   

  	
  Certain Payments May Be Paid Prior to Dissolution

  	
   

  	
  54

  
	
  SIGNATURES

  	
   

  	
   

  	
   

  	
  56

  
	
  This Table of Contents is not a part of the
  Indenture.

  	
   

  	
   

  
							

 

 v

INDENTURE dated as of,                                ,
by and among NOVA BIOSOURCE FUELS, INC., a Nevada corporation (the “Company”), each of the Guarantors (as defined in Section
1.01 below) and                                 ,
a                                               
(the “Trustee”).

Each party agrees as follows for the benefit of the
other party and for the equal and ratable benefit of the Holders of the Company’s
debt securities issued under this Indenture (the “Securities”):

ARTICLE ONE

Definitions and Incorporation by Reference

Section
1.01                            Definitions.

“Affiliate”
means, when used with reference to a specified person, any Person directly or
indirectly controlling or controlled by or under direct or indirect common
control with the Person specified.

“Agent” means
any Registrar, Paying Agent or co-Registrar or agent for service of notices and
demands.

“Attributable Debt”
means, with respect to any Capitalized Lease Obligations, the capitalized
amount thereof determined in accordance with GAAP.

“Authorizing Resolution”
means a resolution adopted by the Board of Directors or by an Officer or
committee of Officers pursuant to Board delegation authorizing a Series of
Securities.

“Bankruptcy Law”
means title 11 of the United States Code, as amended, or any similar federal or
state law for the relief of debtors.

“Board of Directors”
means the Board of Directors of the Company or any authorized committee
thereof.

“Capital Stock”
means, with respect to any Person, any and all shares, interests, participations
or other equivalents (however designated) of or in such Person’s capital stock
or other equity interests, and options, rights or warrants to purchase such
capital stock or other equity interests, whether now outstanding or issued
after the applicable Issue Date, including, without limitation, all
Disqualified Stock and Preferred Stock.

“Capitalized Lease
Obligations” of any Person means the obligations of such Person to
pay rent or other amounts under a lease that is required to be capitalized for
financial reporting purposes in accordance with GAAP, and the amount of such
obligations will be the capitalized amount thereof determined in accordance
with GAAP.

“Change of Control
Provisions” has the meaning set forth in the definition of “Disqualified Stock” below.

 1
 

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

“Currency Agreement”
of any Person means any foreign exchange contract, currency swap agreement or
other similar agreement or arrangement designed to protect such Person or any
of its Subsidiaries against fluctuations in currency values.

“Default” means
any event, act or condition that is, or after notice or the passage of time or
both would be, an Event of Default.

“Designated Guarantor
Senior Indebtedness” means, with respect to any Guarantor, any
Guarantor Senior Indebtedness of such Guarantor which, at the time of
determination, has an aggregate principal amount outstanding of at least $          
if the instrument governing such Guarantor Senior Indebtedness expressly states
that such Indebtedness is “Guarantor Senior Indebtedness” for purposes of this
Indenture and a Board Resolution setting forth such designation by the Company
has been filed with the Trustee.

“Designated Senior
Indebtedness” means any Senior Indebtedness which, at the time of
determination, has an aggregate principal amount outstanding of at least $          
if the instrument governing such Senior Indebtedness expressly states that such
Indebtedness is “Designated Senior Indebtedness” for purposes of this Indenture
and a Board Resolution setting forth such designation by the Company has been
filed with the Trustee.

“Disqualified Stock”
means any Capital Stock that, by its terms (or by the terms of any security
into which it is convertible or for which it is exchangeable), or upon the
happening of any event, (i) matures or is mandatorily redeemable, pursuant to a
sinking fund obligation or otherwise, or is redeemable at the option of the
holder thereof, in whole or in part, on or prior to the final maturity date of
the Securities of the applicable Series or (ii) is convertible into or
exchangeable or exercisable for (whether at the option of the issuer or the
holder thereof) (a) debt securities or (b) any Capital Stock referred to in (i)
above, in each case, at any time prior to the final maturity date of the
Securities of the applicable Series; provided, however, that any Capital Stock
that would not constitute Disqualified Stock but for provisions thereof giving
holders thereof (or the holders of any security into or for which such Capital
Stock is convertible, exchangeable or exercisable) the right to require the
Company to repurchase or redeem such Capital Stock upon the occurrence of a
change in control occurring prior to the final maturity date of the Securities
of the applicable Series shall not constitute Disqualified Stock if the change
in control provisions applicable to such Capital Stock are no more favorable to
such holders than any provisions described in the Authorizing Resolution or
supplemental indenture pertaining to the Securities of the applicable Series (“Change
of Control Provisions”) and such Capital Stock specifically provides that the
Company will not repurchase or redeem any such Capital Stock pursuant to such
provisions prior to the Company’s repurchase of the Securities of the
applicable Series to the extent required pursuant to any such Change of Control
Provisions.

“GAAP” means
generally accepted accounting principles set forth in the statements and
pronouncements of the Financial Accounting Standards Board or in such other
statements by such other entity as may be approved by a significant segment of
the accounting profession of the United States, as in effect on the date of
this Indenture.

 2
 

“Guarantee”
means the guarantee of Securities of any applicable Series by each Guarantor
under this Indenture.

“Guarantor Senior
Indebtedness” means, with respect to any Guarantor, at any date, (a)
all Indebtedness of such Guarantor for borrowed money, including principal,
premium, if any, and interest (including Post-Petition Interest) on such
Indebtedness, unless the instrument under which such Indebtedness of such
Guarantor for money borrowed is incurred expressly provides that such
Indebtedness for money borrowed is not senior or superior in right of payment
to such Guarantor’s Guarantee of the Securities of the applicable Series, and
all renewals, extensions, modifications, amendments or refinancings thereof;
(b) all obligations of such Guarantor under Interest Protection Agreements, and
(c) all obligations of such Guarantor under Currency Agreements.  Notwithstanding the foregoing, Guarantor
Senior Indebtedness shall not include (a) to the extent that it may constitute
Indebtedness, any obligation for federal, state, local or other taxes; (b) any
Indebtedness between such Guarantor and any Subsidiary of such Guarantor or any
Unrestricted Subsidiary of the Company; (c) to the extent that it may
constitute Indebtedness, any obligation in respect of any trade payable
incurred for the purchase of goods or materials, or for services obtained, in
the ordinary course of business; (d) that portion of any Indebtedness that is
incurred in violation of this Indenture; (e) Indebtedness evidenced by such
Guarantor’s Guarantee of the Securities; (f) Indebtedness of such Guarantor
that is expressly subordinate or junior in right of payment to any other
Indebtedness of such Guarantor; (g) to the extent that it may constitute
Indebtedness, any obligation owing under leases (other than Capitalized Lease
Obligations); and (h) any obligation that by operation of law is subordinated
to any general unsecured obligations of such Guarantor.

“Guarantors”
means (i) initially on the execution of this Indenture, each of: Biosource
America, Inc., a Texas corporation; Nova Holding Trade Group LLC, a Delaware
limited liability company; Nova Biofuels Trade Group LLC, a Delaware limited
liability company; Nova Holding Seneca LLC, a Delaware limited liability
company; Nova Biofuels Seneca LLC, a Delaware limited liability company; Nova
Holding Oklahoma LLC, a Delaware limited liability company; and Nova Biofuels
Oklahoma LLC, a Delaware limited liability company; and (ii) each of the
Company’s Subsidiaries which becomes a guarantor of Securities pursuant to the
provisions of this Indenture.  An
Unrestricted Subsidiary may become a Guarantor if it is so designated by
resolution of the Board of Directors of the Company.

“Holder” or “Securityholder” means the person in whose name a Security is
registered on the Registrar’s books.

“Indebtedness”
of any Person means, without duplication, (i) any liability of such Person (a)
for borrowed money or under any reimbursement obligation relating to a letter
of credit or other similar instruments (other than standby letters of credit
issued for the benefit of or surety, performance, completion or payment bonds,
earnest money notes or similar purpose undertakings or indemnifications issued
by, such Person in the ordinary course of business), (b) evidenced by a bond,
note, debenture or similar instrument (including a purchase money obligation)
given in connection with the acquisition of any businesses, properties or
assets of any kind or with services incurred in connection with capital
expenditures (other than any obligation to pay a contingent purchase price
which, as of the date of incurrence thereof is not required to be re corded as
a liability in accordance with GAAP), or (c) in respect of Capitalized Lease

 3
 

Obligations (to the extent of the Attributable Debt in
respect thereof), (ii) any Indebtedness of others that such Person has
guaranteed to the extent of the guarantee, (iii) to the extent not otherwise
included, the obligations of such Person under Currency Agreements or Interest
Protection Agreements to the extent recorded as liabilities not constituting
Interest Incurred, net of amounts recorded as assets in respect of such
agreements, in accordance with GAAP, and (iv) all Indebtedness of others
secured by a Lien on any asset of such Person, whether or not such Indebtedness
is assumed by such Person; provided, that Indebtedness shall not include
accounts payable, liabilities to trade creditors of such Person or other
accrued expenses arising in the ordinary course of business. The amount of
Indebtedness of any Person at any date shall be (a) the outstanding balance at
such date of all unconditional obligations as described above, net of any
unamortized discount to be accounted for as Interest Expense, in accordance
with GAAP, (b) the maximum liability of such Person for any contingent
obligations under clause (ii) above at such date, net of, any unamortized
discount to be accounted for as Interest Expense in accordance with GAAP and
(c) in the case of clause (iv) above, the lesser of (1) the fair market value
of any asset subject to a Lien securing the Indebtedness of others on the date
that the Lien attaches and (2) the amount of the Indebtedness secured.

“Indenture”
means this Indenture as amended or supplemented from time to time, including
pursuant to any Authorizing Resolution or supplemental indenture pertaining to
any Series.

“Insolvency or Liquidation
Proceeding” means, with respect to any Person, any liquidation,
dissolution or winding up of such Person, or any bankruptcy, reorganization,
insolvency, receivership or similar proceeding with respect to such Person,
whether voluntary or involuntary.

“Interest Expense”
of any Person for any period means, without duplication, the aggregate amount
of (i) interest which, in conformity with GAAP, would be set opposite the
caption “interest expense” or any like caption on an income statement for such
Person (including, without limitation, imputed interest included in Capitalized
Lease Obligations, all commissions, discounts and other fees and charges owned
with respect to letters of credit and bankers’ acceptance financing, the net
costs (but reduced by net gains) associated with Currency Agreements and
Interest Protection Agreements, amortization of other financing fees and
expenses, the interest portion of any deferred payment obligation, amortization
of discount or premium, if any, and all other noncash interest expense other
than interest and other charges amortized to cost of sales), and (ii) all
interest actually paid by the Company or a Restricted Subsidiary under any
guarantee of Indebtedness (including, without limitation, a guarantee of
principal, interest or any combination thereof) of any Person other than the
Company or any Restricted Subsidiary during such period; provided, that
Interest Expense shall exclude any expense associated with the complete
write-off of financing fees and expenses in connection with the repayment of
any Indebtedness.

“Interest Protection
Agreement” of any Person means any interest rate swap agreement,
interest rate collar agreement, option or futures contract or other similar
agreement or arrangement designed to protect such Person or any of its
Subsidiaries against fluctuations in interest rates with respect to
Indebtedness permitted to be incurred under this Indenture.  “Investments” of
any Person means (i) all investments by such Person in any other Person in the

 4
 

form of loans, advances or capital contributions, (ii)
all guarantees of Indebtedness or other obligations of any other Person by such
person, (iii) all purchases (or other acquisitions for consideration) by such
Person of Indebtedness, Capital Stock or other securities of any other Person
and (iv) all other items that would be classified as investments in any other
Person (including, without limitation, purchases of assets outside the ordinary
course of business) on a balance sheet of such Person prepared in accordance
with GAAP.

“Issue Date”
means, with respect to any Series of Securities, the date on which the
Securities of such Series are originally issued under this Indenture.

“Lien” means,
with respect to any Property, any mortgage, lien, pledge, charge, security
interest or encumbrance of any kind in respect of such Property.  For purposes of this definition, a Person shall
be deemed to own, subject to a Lien, any Property which it has acquired or
holds subject to the interest of a vendor or lessor under any conditional sale
agreement, capital lease or other title retention agreement relating to such
Property.

“Non-Recourse Indebtedness”
with respect to any Person means Indebtedness of such Person for which (i) the
sole legal recourse for collection of principal and interest on such
Indebtedness is against the specific property identified in the instruments
evidencing or securing such Indebtedness and such property was acquired with
the proceeds of such Indebtedness or such Indebtedness was incurred within 90
days after the acquisition of such property and (ii) no other assets of such
Person may be realized upon in collection of principal or interest on such
Indebtedness. Indebtedness which is otherwise Non-Recourse Indebtedness will
not lose its character as Non-Recourse Indebtedness because there is recourse
to the borrower, any guarantor or any other Person for (i) environmental
warranties and indemnities, or (ii) indemnities for and liabilities arising
from fraud, misrepresentation, misapplication or non-payment of rents, profits,
insurance and condemnation proceeds and other sums actually received by the
borrower from secured assets to be paid to the lender, waste and mechanics’
liens.

“Officer” means
the Chairman of the Board, the Chief Executive Officer, the President, the
Chief Operating Officer, any Vice President, the Treasurer, the Controller or
the Secretary of the Company.

“Officers’ Certificate”
means a certificate signed by two Officers or by an Officer and an Assistant
Treasurer or an Assistant Secretary of the Company.

“Opinion of Counsel”
means a written opinion from legal counsel who is reasonably acceptable to the
Trustee.  The counsel may be an employee
of or counsel to the Company or the Trustee.

“Permitted Junior
Securities” means any securities of the Company or any other Person
that are (i) equity securities or (ii) subordinated in right of payment to all
Senior Indebtedness or Guarantor Senior Indebtedness, as the case may be, that
may at the time be outstanding, to substantially the same extent as, or to a
greater extent than, the Securities are subordinated as provided in this
Indenture, in any event pursuant to a court order so providing and as to which
(a) the rate of interest on such securities shall not exceed the effective rate
of interest on the Securities on the date of this Indenture, (b) such
securities shall not be entitled to

 5
 

the benefits of covenants or defaults materially more
beneficial to the holders of such securities than those in effect with respect
to the Securities on the date of this Indenture and (c) such securities shall
not provide for amortization (including sinking fund and mandatory prepayment
provisions) commencing prior to the date six months following the final
scheduled maturity date of the Senior Indebtedness or Guarantor Senior
Indebtedness, as the case may be (as modified by the plan of reorganization or
readjustment pursuant to which such securities are issued).

“Person” means
any individual, corporation, partnership, limited liability company, joint
venture, incorporated or unincorporated association, joint stock company,
trust, unincorporated organization or government or any agency or political
subdivision thereof.

“Post-Petition Interest”
means, with respect to any Senior Indebtedness or Guarantor Senior Indebtedness
of any Person, all interest accrued or accruing on such Indebtedness after the
commencement of any Insolvency or Liquidation Proceeding against such Person in
accordance with and at the contract rate (including, without limitation, any
rate applicable upon default) specified in the agreement or instrument
creating, evidencing or governing such Indebtedness, whether or not, pursuant
to applicable law or otherwise, the claim for such interest is allowed as a
claim in such Insolvency or Liquidation Proceeding.

“Preferred Stock”
of any Person means all Capital Stock of such Person which has a preference in
liquidation or with respect to the payment of dividends.

“principal” of a
debt security means the principal of the security plus, when appropriate, the
premium, if any, on the security.

“Property” of
any Person means all types of real, personal, tangible, intangible or mixed
property owned by such Person, whether or not included in the most recent
consolidated balance sheet of such Person and its Subsidiaries under GAAP.

“Restricted Subsidiary”
means any Subsidiary of the Company which is not an Unrestricted Subsidiary.

“SEC” means the
Securities and Exchange Commission or any successor agency performing the
duties now assigned to it under the TIA.

“Securities”
means any Securities that are issued under this Indenture.

“Senior Indebtedness”
means, at any date, (a) all Indebtedness of the Company for borrowed money,
including principal, premium, if any, and interest (including Post-Petition
Interest) on such Indebtedness, unless the instrument under which such
Indebtedness of the Company for money borrowed is incurred expressly provides
that such Indebtedness for money borrowed is not senior or superior in right of
payment to the Securities of the applicable Series, and all renewals,
extensions, modifications, amendments or refinancings thereof; (b) all obligations
of the Company under Interest Protection Agreements, and (c) all obligations of
the Company under Currency Agreements. 
Notwithstanding the foregoing, Senior Indebtedness shall not include (a)
to the extent that it may constitute Indebtedness, any obligation for federal,
state, local or other taxes; (b) any Indebtedness between the Company and any
Subsidiary of the Company; (c) to the extent that it may constitute
Indebtedness, any obligation in respect of any

 6
 

trade payable incurred for the purchase of goods or
materials, or for services obtained, in the ordinary course of business; (d)
that portion of any Indebtedness that is incurred in violation of this
Indenture; (e) Indebtedness evidenced by the Securities; (f) Indebtedness of
the Company that is expressly subordinate or junior in right of payment to any
other Indebtedness of the Company; (g) to the extent that it may constitute
Indebtedness, any obligation owing under leases (other than Capitalized Lease
Obligations); and (h) any obligation that by operation of law is subordinate to
any general unsecured obligations of the Company.

“Series” means a
series of Securities established under this Indenture.

“Significant Subsidiary”
means any Subsidiary of the Company which would constitute a “significant subsidiary”
as defined in Rule 1-02 of Regulation S-X under the Securities Act and the
Exchange Act.

“Subsidiary” of
any Person means any corporation or other entity of which a majority of the
Capital Stock having ordinary voting power to elect a majority of the Board of
Directors or other persons performing similar functions is at the time directly
or indirectly owned or controlled by such Person.

“TIA” means the
Trust Indenture Act of 1939, as in effect from time to time.

“Trustee” means
the party named as such in this Indenture until a successor replaces it
pursuant to this Indenture and thereafter means the successor serving
hereunder.

“Trust Officer”
means the Chairman of the Board, the President, any Vice President or any other
officer or assistant officer of the Trustee assigned by the Trustee to
administer its corporate trust matters.

“United States”
means the United States of America.

“U.S. government
obligations” means securities which are (i) direct obligations of
the United States for the payment of which its full faith and credit is pledged
or (ii) obligations of a person controlled or supervised by and acting as an
agency or instrumentality of the United States the payment of which is
unconditionally guaranteed as a full faith and credit obligation by the United
States, which, in either case are not callable or redeemable at the option of
the issuer thereof, and shall also include a depositary receipt issued by a
bank or trust company as custodian with respect to any such U.S. government
obligations or a specific payment of interest on or principal of any such U.S.
government obligation held by such custodian for the account of the holder of a
depositary receipt; 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 interest on or
principal of the U.S. government obligation evidenced by such depositary
receipt.

“Unrestricted Subsidiary”
means any Subsidiary of the Company so designated by a resolution adopted by
the Board of Directors of the Company as provided below; provided that (a) the
holders of Indebtedness thereof do not have direct or indirect recourse against
the Company or any Restricted Subsidiary, and neither the Company nor any
Restricted Subsidiary 

 7
 

otherwise has liability, for any payment obligations
in respect of such Indebtedness (including any undertaking, agreement or
instrument evidencing such Indebtedness), except, (i) in each case, to the
extent that the amount thereof constitutes a “restricted payment” permitted to
be made under any provisions set forth limiting the making or paying of a “restricted
payment” under the Authorizing Resolution or supplemental indenture pertaining
to an applicable Series (“Restricted Payment Provisions”), (ii) in the case of
Non-Recourse Indebtedness, to the extent such recourse or liability is for the
matters discussed in the last sentence of the definition of “Non-Recourse
Indebtedness,” or (iii) to the extent such Indebtedness is a guarantee by such
Subsidiary of Indebtedness of the Company or a Restricted Subsidiary and (b) no
holder of any Indebtedness of such Subsidiary shall have a right to declare a
default on such Indebtedness or cause the payment thereof to be accelerated or
payable prior to its stated maturity as a result of a default on any
Indebtedness of the Company or any Restricted Subsidiary.  Subject to the foregoing, the Board of
Directors of the Company may designate any Subsidiary to be an Unrestricted
Subsidiary; provided, however, that (i) the net amount (the “Designation Amount”)
then outstanding of all previous Investments by the Company and the Restricted
Subsidiaries in such Subsidiary will be deemed to be a “restricted payment”
pursuant to any Restricted Payment Provisions at the time of such designation
and will reduce the amount available for other restricted payments under any
Restricted Payment Provisions, to the extent provided therein, (ii) the Company
must be permitted under any Restricted Payment Provisions to make the “restricted
payment” deemed to have been made pursuant to clause (i), and (iii) after
giving effect to such designation, no Default or Event of Default shall have
occurred and be continuing.  The Board of
Directors of the Company may also redesignate an Unrestricted Subsidiary to be
a Restricted Subsidiary; provided, however, that (i) the Indebtedness of such
Unrestricted Subsidiary as of the date of such redesignation could then be
incurred under any provisions set forth limiting the incurrence of Indebtedness
under the Authorizing Resolution or supplemental indenture pertaining to an
applicable Series (“Debt Limitation Provisions”), (ii) immediately after giving
effect to such redesignation and the incurrence of any such additional
Indebtedness, the Company and the Restricted Subsidiaries could incur $1.00 of
additional Indebtedness under any debt incurrence covenant ratio set forth in any
Debt Limitation Provisions and (iii) the Liens of such Unrestricted Subsidiary
as of the date of such redesignation could then be incurred in accordance with
any provisions set forth limiting the creation or existence of Liens under the
Authorizing Resolution or supplemental indenture pertaining to an applicable
Series (“Lien Limitation Provisions”). 
Any such designation or redesignation by the Board of Directors of the
Company will be evidenced to the Trustee by the filing with the Trustee of a
certified copy of the resolution of the Board of Directors of the Company
giving effect to such designation or redesignation and an Officers’ Certificate
certifying that such designation or redesignation complied with the foregoing
conditions and setting forth the underlying calculations of such Officers’
Certificate.  The designation of any
Person as an Unrestricted Subsidiary shall be deemed to include a designation
of all Subsidiaries of such Person as Unrestricted Subsidiaries; provided,
however, that the ownership of the general partnership interest or a similar
member’s interest in a limited liability company by an Unrestricted Subsidiary
shall not cause a Subsidiary of the Company of which more than 95% of the
equity interest is held by the Company or one or more Restricted Subsidiaries
to be deemed an Unrestricted Subsidiary.

 8
 

Section
1.02                            Other
Definitions.

	
  Term

  	
   

  	
  Defined in

  
	
  “Agent
  Members”

  	
   

  	
  2.15

  
	
   

  	
   

  	
   

  
	
  “Business
  Day”

  	
   

  	
  11.07

  
	
   

  	
   

  	
   

  
	
  “Custodian”

  	
   

  	
  6.01

  
	
   

  	
   

  	
   

  
	
  “Depository”

  	
   

  	
  2.15

  
	
   

  	
   

  	
   

  
	
  “Event
  of Default”

  	
   

  	
  6.01

  
	
   

  	
   

  	
   

  
	
  “Legal
  Holiday”

  	
   

  	
  11.07

  
	
   

  	
   

  	
   

  
	
  “Paying
  Agent”

  	
   

  	
  2.03

  
	
   

  	
   

  	
   

  
	
  “Registrar”

  	
   

  	
  2.03

  

 

Section
1.03                            Incorporation
by Reference of Trust Indenture Act.

Whenever this Indenture refers to a provision of the
TIA, the provision is incorporated by reference in and made a part of this
Indenture.  The following TIA terms used
in this Indenture have the following meanings:

“Commission”
means the SEC.

“indenture securities”
means the Securities.

“indenture security holder”
means a Securityholder.

“indenture to be qualified”
means this Indenture.

“indenture trustee”
or “institutional trustee” means the
Trustee.

“obligor” on the
indenture securities means the Company, each of the Guarantors, or any other
obligor on the Securities of a Series or any Guarantees thereof.

All other TIA terms used in this Indenture that are
defined by the TIA, defined by TIA reference to another statute or defined by
SEC rule have the meanings so assigned to them.

Section
1.04                            Rules
of Construction.

Unless the context otherwise requires:

(1)           a term has the meaning assigned to
it;

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

(3)           “or” is not exclusive;

 9
 

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

(5)           provisions apply to successive events
and transactions.

ARTICLE TWO

The Securities

Section
2.01                            Form
and Dating.

The aggregate principal amount of Securities that may
be issued under this Indenture is unlimited. 
The Securities may be issued from time to time in one or more
Series.  Each Series shall be created by
an Authorizing Resolution or a supplemental indenture that establishes the
terms of the Series, which may include the following:

(1)           the title of the Series;

(2)           the aggregate principal amount (or
any limit on the aggregate principal amount) of the Series and, if any
Securities of a Series are to be issued at a discount from their face amount,
the method of computing the accretion of such discount;

(3)           the interest rate or method of calculation
of the interest rate;

(4)           the date from which interest will
accrue;

(5)           the record dates for interest payable
on Securities of the Series;

(6)           the dates when, places where and
manner in which principal and interest are payable;

(7)           the Registrar and Paying Agent;

(8)           the terms of any mandatory (including
any sinking fund requirements) or optional redemption by the Company;

(9)           the terms of any redemption at the
option of Holders;

(10)         the denominations in which Securities
are issuable;

(11)         whether Securities will be issued in
registered or bearer form and the terms of any such forms of Securities;

(12)         whether any Securities will be
represented by a global Security and the terms of any such global Security;

(13)         the currency or currencies (including
any composite currency) in which principal or interest or both may be paid;

 10
 

(14)         if payments of principal or interest
may be made in a currency other than that in which Securities are denominated,
the manner for determining such payments;

(15)         provisions for electronic issuance of
Securities or issuance of Securities in uncertificated form;

(16)         any Events of Default, covenants and/or
defined terms in addition to or in lieu of those set forth in this Indenture;

(17)         whether and upon what terms Securities
may be defeased if different from the provisions set forth in this Indenture;

(18)         the form of the Securities, which,
unless the Authorizing Resolution or supplemental indenture otherwise provides,
shall be in the form of “Exhibit A” hereto;

(19)         any terms that may be required by or
advisable under applicable law;

(20)         the percentage of the principal amount
of the Securities which is payable if the maturity of the Securities is
accelerated in the case of Securities issued at a discount from their face amount;

(21)         whether any Securities will not have
Guarantees; and

(22)         any other terms in addition to or
different from those contained in this Indenture.

All Securities of one Series need not be issued at the
same time and, unless otherwise provided, a Series may be reopened for
issuances of additional Securities of such Series pursuant to an Authorizing
Resolution, an Officers’ Certificate or in any indenture supplemental
hereto.  The creation and issuance of a
Series and the authentication and delivery thereof are not subject to any
conditions precedent.

Section
2.02                            Execution
and Authentication.

Two Officers shall sign the Securities for the Company
by manual or facsimile signature.  The
Company’s seal shall be reproduced on the Securities.  Each Guarantor shall execute the Guarantee in
the manner set forth in Section 9.08.

If an Officer whose signature is on a Security no
longer holds that office at the time the Trustee authenticates the Security,
the Security shall nevertheless be valid.

A Security shall not be valid until the Trustee
manually signs the certificate of authentication on the Security.  The signature shall be conclusive evidence
that the Security has been authenticated under this Indenture.

The Trustee shall authenticate Securities for original
issue upon receipt of an Officers’ Certificate of the Company.  Each Security shall be dated the date of its
authentication.

 11

Section
2.03                            Registrar
and Paying Agent.

The Company shall maintain an office or agency where
Securities may be presented for registration of transfer or for exchange (“Registrar”), an office or agency where Securities may be
presented for payment (“Paying Agent”)
and an office or agency where notices and demands to or upon the Company in
respect of the Securities and this Indenture may be served.  The Registrar shall keep a register of the
Securities and of their transfer and exchange. 
The Company may have one or more co-Registrars and one or more
additional paying agents.  The term “Paying Agent” includes any additional paying agent.

The Company shall enter into an appropriate agency
agreement with any Agent not a party to this Indenture.  The agreement shall implement the provisions
of this Indenture that relate to such Agent. 
The Company shall promptly notify the Trustee in writing of the name and
address of any such Agent and the Trustee shall have the right to inspect the
Securities register at all reasonable times to obtain copies thereof, and the
Trustee shall have the right to rely upon such register as to the names and
addresses of the Holders and the principal amounts and certificate numbers
thereof.  If the Company fails to
maintain a Registrar or Paying Agent or fails to give the foregoing notice, the
Trustee shall act as such.

The Company initially appoints the Trustee as
Registrar and Paying Agent.

Section
2.04                            Paying
Agent to Hold Money in Trust.

Each Paying Agent shall hold in trust for the benefit
of Securityholders and the Trustee all money held by the Paying Agent for the
payment of principal of or interest on the Securities, and shall notify the
Trustee of any default by the Company in making any such payment.  If the Company or a Subsidiary acts as Paying
Agent, it shall segregate the money and hold it as a separate trust fund.  The Company at any time may require a Paying
Agent to pay all money held by it to the Trustee.  Upon doing so the Paying Agent shall have no
further liability for the money.

Section
2.05                            Securityholder
Lists.

The Trustee shall preserve in as current a form as is
reasonably practicable the most recent list available to it of the names and
addresses of Securityholders.  If the
Trustee is not the Registrar, the Company shall furnish to the Trustee at least
7 Business Days before each semiannual interest payment date and at such other
times as the Trustee may request in writing a list in such form and as of such
date as the Trustee may reasonably require of the names and addresses of
Securityholders.

Section
2.06                            Transfer
and Exchange.

Where a Security is presented to the Registrar or a
co-Registrar with a request to register a transfer, the Registrar shall
register the transfer as requested if the requirements of Section 8-401(1) of
the New York Uniform Commercial Code are met. 
Where Securities are presented to the Registrar or a co-Registrar with a
request to exchange them for an equal principal amount of Securities of other
denominations, the Registrar shall make the exchange as requested if the same
requirements are met.  To permit
transfers and exchanges, the Trustee shall

 12
 

authenticate Securities at the Registrar’s
request.  The Registrar need not transfer
or exchange any Security selected for redemption, except the unredeemed part
thereof if the Security is redeemed in part, or transfer or exchange any
Securities for a period of 15 days before a selection of Securities to be
redeemed.  Any exchange or transfer shall
be without charge, except that the Company may require payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in
relation thereto except in the case of exchanges pursuant to 2.09, 3.06, or
10.05 not involving any transfer.

Any Holder of a global Security shall, by acceptance
of such global Security, agree that transfers of beneficial interests in such
global Security may be effected only through a book entry system maintained by
the Holder of such global Security (or its agent), and that ownership of a
beneficial interest in the Security shall be required to be reflected in a book
entry.

Section
2.07                            Replacement
Securities.

If the Holder of a Security claims that the Security
has been lost, destroyed, mutilated or wrongfully taken, the Company shall
issue and, upon written request of any Officer of the Company, the Trustee
shall authenticate a replacement Security, provided in the case of a lost,
destroyed or wrongfully taken Security, that the requirements of Section 8-405
of the New York Uniform Commercial Code are met.  If any such lost, destroyed, mutilated or
wrongfully taken Security shall have matured or shall be about to mature, the
Company may, instead of issuing a substitute Security therefor, pay such
Security without requiring (except in the case of a mutilated Security) the
surrender thereof.  An indemnity bond
must be sufficient in the judgment of the Company and the Trustee to protect
the Company, the Trustee or any Agent from any loss which any of them may
suffer if a Security is replaced, including the acquisition of such Security by
a bona fide purchaser.  The Company or
the Trustee may charge for its expenses in replacing a Security.

Section
2.08                            Outstanding
Securities.

Securities outstanding at any time are all Securities
authenticated by the Trustee except for those cancelled by it and those
described in this Section.  A Security
does not cease to be outstanding because the Company, any Guarantor or one of
their Affiliates holds the Security.  If
a Security is replaced pursuant to Section 2.07, it ceases to be outstanding
unless the Trustee receives proof satisfactory to it that the replaced Security
is held by a bona fide purchaser.  If the
Paying Agent holds on a redemption date or maturity date money sufficient to
pay Securities payable on that date, then on and after that date such
Securities cease to be outstanding and interest on them ceases to accrue.

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
2.09                            Temporary
Securities.

Until definitive Securities are ready for delivery,
the Company may prepare and the Trustee shall authenticate temporary
Securities.  Temporary Securities shall
be substantially 

 13
 

in the form of definitive Securities but may have
variations that the Company considers appropriate for temporary
Securities.  Without unreasonable delay,
the Company shall prepare and, upon surrender for cancellation of the temporary
Security, the Company and the Guarantors shall execute and the Trustee shall
authenticate definitive Securities in exchange for temporary Securities.  Until so exchanged, the temporary Securities
shall in all respects be entitled to the same benefits under this Indenture as
definitive Securities authenticated and delivered hereunder.

Section
2.10                            Cancellation.

The Company at any time may deliver Securities to the
Trustee for cancellation.  The Registrar
and Paying Agent shall forward to the Trustee any Securities surrendered to
them for registration of transfer, exchange, redemption or payment.  The Trustee and no one else shall cancel and
destroy, or retain in accordance with its standard retention policy, all
Securities surrendered for registration or transfer, exchange, redemption,
paying or cancellation.  Unless the
Authorizing Resolution so provides, the Company may not issue new Securities to
replace Securities that it has previously paid or delivered to the Trustee for
cancellation.

Section
2.11                            Defaulted
Interest.

If the Company defaults in a payment of interest on
the Securities, it shall pay the defaulted interest plus any interest payable
on the defaulted interest to the persons who are Securityholders on a
subsequent special record date.  The
Company shall fix such special record date and a payment date which shall be
reasonably satisfactory to the Trustee. 
At least 15 days before such special record date, the Company shall mail
to each Securityholder a notice that states the record date, the payment date
and the amount of defaulted interest to be paid.  On or before the date such notice is mailed,
the Company shall deposit with the Paying Agent money sufficient to pay the
amount of defaulted interest to be so paid. 
The Company may pay defaulted interest in any other lawful manner if,
after notice given by the Company to the Trustee of the proposed payment, such
manner of payment shall be deemed practicable by the Trustee.

Section
2.12                            Treasury
Securities.

In determining whether the Holders of the required
principal amount of Securities of a Series have concurred in any direction,
waiver, consent or notice, Securities owned by the Company, the Guarantors or
any of their respective Affiliates shall be considered as though they are not
outstanding, except that for the purposes of determining whether the Trustee
shall be protected in relying on any such direction, waiver or consent, only
Securities which the Trustee actually knows are so owned shall be so
considered.

Section
2.13                            CUSIP
Numbers.

The Company in issuing the Securities of any Series
may use a “CUSIP” number, and if so, the Trustee
shall use the CUSIP number in notices of redemption or exchange as a
convenience to Holders of such Securities; provided that no representation is
hereby deemed to be made by the Trustee as to the correctness or accuracy of
any such CUSIP number printed in the notice or on such Securities, and that
reliance may be placed only on the other identification numbers printed on such
Securities.  The Company shall promptly
notify the Trustee of any change in any CUSIP number.

 14
 

Section
2.14                            Deposit
of Moneys.

Prior to 11:00 a.m. New York City time on each
interest payment date and maturity date with respect to each Series of
Securities, the Company shall have deposited with the Paying Agent in
immediately available funds money sufficient to make cash payments due on such
interest payment date or maturity date, as the case may be, in a timely manner
which permits the Paying Agent to remit payment to the Holders on such interest
payment date or maturity date, as the case may be.

Section 2.15                            Book-Entry
Provisions for Global Security.

(a)           Any global Security of a Series
initially shall (i) be registered in the name of the depository who shall be
identified in the Authorizing Resolution or supplemental indenture relating to
such Securities (the “Depository”) or
the nominee of such Depository, (ii) be delivered to the Trustee as custodian
for such Depository and (iii) bear any required legends.  Members of, or participants in, the
Depository (“Agent Members”) shall have no
rights under this Indenture with respect to any global Security held on their
behalf by the Depository, or the Trustee as its custodian, or under the global
Security, and the Depository may be treated by the Company, the Trustee and any
agent of the Company or the Trustee as the absolute owner of the global
Security for all purposes whatsoever. 
Notwithstanding the foregoing, nothing herein shall prevent the Company,
the Trustee or any agent of the Company or the Trustee from giving effect to
any written certification, proxy or other authorization furnished by the
Depository or impair, as between the Depository and its Agent Members, the
operation of customary practices governing the exercise of the rights of a
Holder of any Security.

(b)           Transfers of any global Security
shall be limited to transfers in whole, but not in part, to the Depository, its
successors or their respective nominees. 
Interests of beneficial owners in the global Security may be transferred
or exchanged for definitive Securities in accordance with the rules and
procedures of the Depository.  In
addition, definitive Securities shall be transferred to all beneficial owners
in exchange for their beneficial interests in a global Security if (i) the
Depository notifies the Company that it is unwilling or unable to continue as
Depository for the global Security and a successor depository is not appointed
by the Company within 90 days of such notice or (ii) an Event of Default has
occurred and is continuing and the Registrar has received a request from the
Depository to issue definitive Securities.

(c)           In connection with any transfer or
exchange of a portion of the beneficial interest in any global Security to
beneficial owners pursuant to paragraph (b), the Registrar shall (if one or
more definitive Securities are to be issued) reflect on its books and records
the date and a decrease in the principal amount of the global Security in an
amount equal to the principal amount of the beneficial interest in the global
Security to be transferred, and the Company and the Guarantors shall execute,
and the Trustee shall authenticate and deliver, one or more definitive
Securities of like tenor and amount.

(d)           In connection with the transfer of an
entire global Security to beneficial owners pursuant to paragraph (b), the
global Security shall be deemed to be surrendered to the Trustee for
cancellation, and the Company and the Guarantors shall execute, and the Trustee
shall authenticate and deliver, to each beneficial owner identified by the
Depository in exchange

 15
 

for its beneficial interest in the global Security, an
equal aggregate principal amount of definitive Securities of authorized denominations.

(e)           The Holder of any global Security may
grant proxies and otherwise authorize any person, including Agent Members and
persons that may hold interests through Agent Members, to take any action which
a Holder is entitled to take under this Indenture or the Securities of such
Series.

ARTICLE THREE

Redemption

Section
3.01                            Notices
to Trustee.

Securities of a Series that are redeemable prior to
maturity shall be redeemable in accordance with their terms and, unless the
Authorizing Resolution or supplemental indenture provides otherwise, in
accordance with this Article.

If the Company wants to redeem Securities pursuant to
Paragraph 5 of the Securities, it shall notify the Trustee in writing of the
Redemption Date and the principal amount of Securities to be redeemed.  Any such notice may be cancelled at any time
prior to notice of such redemption being mailed to Holders.  Any such cancelled notice shall be void and
of no effect.

If the Company wants to credit any Securities
previously redeemed, retired or acquired against any redemption pursuant to
Paragraph 6 of the Securities, it shall notify the Trustee of the amount of the
credit and it shall deliver any Securities not previously delivered to the
Trustee for cancellation with such notice.

The Company shall give each notice provided for in
this Section 3.01 at least 30 days before the notice of any such redemption is
to be mailed to Holders (unless a shorter notice shall be satisfactory to the
Trustee).

Section
3.02                            Selection
of Securities to be Redeemed.

If fewer than all of the Securities of a Series are to
be redeemed, the Trustee shall select the Securities to be redeemed by a method
the Trustee considers fair and appropriate. 
The Trustee shall make the selection from Securities outstanding not
previously called for redemption and shall promptly notify the Company of the
serial numbers or other identifying attributes of the Securities so
selected.  The Trustee may select for
redemption portions of the principal of Securities that have denominations
larger than the minimum denomination for the Series.  Securities and portions of them it selects
shall be in amounts equal to the minimum denomination for the Series or an
integral multiple thereof.  Provisions of
this Indenture that apply to Securities called for redemption also apply to
portions of Securities called for redemption.

 16
 

Section
3.03                            Notice
of Redemption.

At least 30 days but not more than 60 days before a
redemption date, the Company shall mail a notice of redemption by first-class
mail, postage prepaid, to each Holder of Securities to be redeemed.  The notice shall identify the Securities to
be redeemed and shall state:

(1)           the redemption date;

(2)           the redemption price;

(3)           the name and address of the Paying
Agent;

(4)           that Securities called for redemption
must be surrendered to the Paying Agent to collect the redemption price;

(5)           that interest on Securities called
for redemption ceases to accrue on and after the redemption date; and

(6)           that the Securities are being
redeemed pursuant to the mandatory redemption or the optional redemption
provisions, as applicable.  At the
Company’s request, the Trustee shall give the notice of redemption in the
Company’s name and at its expense; provided, however, that the Company shall
deliver to the Trustee at least 15 days prior to the date on which notice of
redemption is to be mailed or such shorter period as may be satisfactory to the
Trustee, an Officers’ Certificate requesting that the Trustee give such notice
and setting forth the information to be stated in such notice as provided in
the preceding paragraph.

Section
3.04                            Effect
of Notice of Redemption.

Once notice of redemption is mailed, Securities called
for redemption become due and payable on the redemption date and at the
redemption price as set forth in the notice of redemption.  Upon surrender to the Paying Agent, such
Securities shall be paid at the redemption price, plus accrued interest to the
redemption date.

Section
3.05                            Deposit
of Redemption Price.

On or before the redemption date, the Company shall
deposit with the Paying Agent immediately available funds sufficient to pay the
redemption price of and accrued interest on all Securities to be redeemed on
that date.

Section
3.06                            Securities
Redeemed in Part.

Upon surrender of a Security that is redeemed in part,
the Company and the Guarantors shall execute and the Trustee shall authenticate
for each Holder a new Security equal in principal amount to the unredeemed
portion of the Security surrendered.

 17
 

ARTICLE FOUR

Covenants

Section
4.01                            Payment
of Securities.

The Company shall pay the principal of and interest on
a Series on the dates and in the manner provided in the Securities of the
Series.  An installment of principal or
interest shall be considered paid on the date it is due if the Paying Agent
holds on that date money designated for and sufficient to pay the installment.

The Company shall pay interest on overdue principal at
the rate borne by the Series; it shall pay interest on overdue installments of
interest at the same rate.

Section
4.02                            Maintenance
of Office or Agency.

The Company shall maintain the office or agency
required under Section 2.03.  The Company
shall give prior written notice to the Trustee of the location, and any change
in the location, of such office or agency. 
If at any time the Company shall fail to maintain any such required
office or agency or shall fail to furnish the Trustee with the address thereof,
such presentations, surrenders, notices and demands may be made or served at
the address of the Trustee.

Section
4.03                            Compliance
Certificate.

The Company shall deliver to the Trustee within 120
days after the end of each fiscal year of the Company an Officers’ Certificate
stating whether or not the signers know of any Default by the Company in
performing any of its obligations under this Indenture.  If they do know of such a Default, the
certificate shall describe the Default.

Section
4.04                            Payment
of Taxes; Maintenance of Corporate Existence; Maintenance of Properties.

The Company will:

(a)           cause to be paid and discharged all
lawful taxes, assessments and governmental charges or levies imposed upon the
Company and its Restricted Subsidiaries or upon the income or profits of the
Company and its Restricted Subsidiaries or upon property or any part thereof
belonging to the Company and its Restricted Subsidiaries before the same shall
be in default, as well as all lawful claims for labor, materials and supplies
which, if unpaid, might become a lien or charge upon such property or any part
thereof; provided, however, that the Company shall not be required to cause to
be paid or discharged any such tax, assessment, charge, levy or claim so long
as the validity or amount thereof shall be contested in good faith by
appropriate proceedings and the nonpayment thereof does not, in the judgment of
the Company, materially adversely affect the ability of the Company and the
Restricted Subsidiaries to pay all obligations under the Indenture when due;
and provided further that the Company shall not be required to cause to be paid
or discharged any such tax, assessment, charge, levy or claim if, in the
judgment of the Company, such payment shall not be advantageous to the Company
in the conduct of its business and if the failure so to pay or discharge does
not, in its judgment, materially adversely affect the ability of the Company
and the Restricted Subsidiaries to pay all obligations under this Indenture
when due;

 18
 

(b)           cause to be done all things necessary
to preserve and keep in full force and effect the corporate existence of the Company
and each of its Restricted Subsidiaries and to comply with all applicable laws;
provided, however, that nothing in this subsection (b) shall prevent a
consolidation or merger of the Company or any Restricted Subsidiary not
prohibited by the provisions of Article Five, Article Nine or any other
provision or the Authorizing Resolution or supplemental indenture pertaining to
a Series, and the Company need not maintain the corporate existence of an
immaterial Restricted Subsidiary which is not a Guarantor; and

(c)           at all times keep, maintain and
preserve all the property of the Company and the Restricted Subsidiaries in
good repair, working order and condition (reasonable wear and tear excepted)
and from time to time make all needful and proper repairs, renewals,
replacements, betterments and improvements thereto, so that the business
carried on in connection therewith may be properly and advantageously conducted
at all times; provided, however, that nothing in this subsection (c) shall
prevent the Company from discontinuing the operation and maintenance of any
such properties if such discontinuance is, in the judgment of the Company,
desirable in the conduct of its business and not disadvantageous in any
material respect to the ability of the Company and the Restricted Subsidiaries
to pay all obligations under this Indenture when due.

Section
4.05                            Additional
Guarantors.

If the Company or any of the Guarantors transfers or
causes to be transferred, in one transaction or a series of related
transactions, any property to any Restricted Subsidiary of the Company that is
not a Guarantor, or if the Company or any of the Guarantors shall organize,
acquire or otherwise invest in another Subsidiary which becomes a Restricted
Subsidiary, then such transferee or acquired or other Subsidiary shall (i)
execute and deliver to the Trustee a supplemental indenture in form reasonably
satisfactory to the Trustee pursuant to which such Subsidiary shall
unconditionally guarantee all of the Company’s obligations under the Securities
of any Series that has the benefit of Guarantees of other Subsidiaries of the
Company and this Indenture (as it relates to all such Series) on the terms set
forth in this Indenture and (ii) deliver to the Trustee an Opinion of Counsel
that such supplemental indenture has been duly authorized, executed and
delivered by such Subsidiary and constitutes a legal, valid, binding and
enforceable obligation of such Subsidiary. 
Thereafter, such Subsidiary shall be a Guarantor for all purposes of
this Indenture (as it relates to all such Series).

Section
4.06                            Limitation
on Senior Subordinated Indebtedness.

(a)           The Company shall not, directly or
indirectly, incur any Indebtedness that by its terms would expressly rank
senior in right of payment to the Securities of any Series and expressly rank
subordinate in right of payment to any Senior Indebtedness.

(b)           The Company shall not permit any
Guarantor to, and no Guarantor shall, directly or indirectly, incur any
Indebtedness that by its terms would expressly rank senior in right of payment
to the Guarantee of such Guarantor of Securities of any Series and expressly
rank subordinate in right of payment to any Guarantor Senior Indebtedness of
such Guarantor.

 19
 

ARTICLE FIVE

Successor Corporation

Section
5.01                            When
Company May Merge, etc.

The Company shall not consolidate with or merge with
or into, any other corporation, or transfer all or substantially all of its
assets to, any entity unless permitted by law and unless (1) the resulting,
surviving or transferee entity, which shall be a corporation organized and
existing under the laws of the United States or a State thereof, assumes by
supplemental indenture, in a form reasonably satisfactory to the Trustee, all
of the obligations of the Company under the Securities and this Indenture and
(2) immediately after giving effect to, and as a result of, such transaction,
no Default or Event of Default shall have occurred and be continuing.  Thereafter such successor corporation or
corporations shall succeed to and be substituted for the Company with the same
effect as if it had been named herein as the “Company”
and all such obligations of the predecessor corporation shall terminate.

The Company shall deliver to the Trustee prior to the
consummation of the proposed transaction an Officers’ Certificate to the
foregoing effect and an Opinion of Counsel stating that the proposed
transaction and such supplemental indenture comply with this Indenture.  To the extent that an Authorizing Resolution
or supplemental indenture pertaining to any Series provides for different
provisions relating to the subject matter of this Article Five, the provisions
in such Authorizing Resolution or supplemental indenture shall govern for
purposes of such Series.

ARTICLE SIX

Defaults and
Remedies

Section
6.01                            Events
of Default.

An “Event of Default”
on a Series occurs if, voluntarily or involuntarily, whether by operation of
law or otherwise, any of the following occurs:

(1)           the failure by the Company to pay
interest on any Security of such Series when the same becomes due and payable
and the continuance of any such failure for a period of 30 days, whether or not
such payment is prohibited by Article Twelve or Article Thirteen hereof;

(2)           the failure by the Company to pay the
principal or premium of any Security of such Series when the same becomes due
and payable at maturity, upon acceleration or otherwise, whether or not such
payment is prohibited by Article Twelve or Article Thirteen hereof;

(3)           the failure by the Company or any
Restricted Subsidiary to comply with any of its agreements or covenants in, or
provisions of, the Securities of such Series, the Guarantees (as they relate
thereto) or this Indenture (as they relate thereto) and such failure continues
for the period and after the notice specified below (except in the case of a
default with respect to any Change of Control Provisions or Article Five (or
any replacement provisions as

 20
 

contemplated by Article Five), which will constitute
Events of Default with notice but without passage of time);

(4)           the acceleration of any Indebtedness
(other than Non-Recourse Indebtedness) of the Company or any Restricted
Subsidiary in an amount of $              
or more, individually or in the aggregate, and such acceleration does not cease
to exist, or such Indebtedness is not satisfied, in either case within five
days after such acceleration;

(5)           the failure by the Company or any
Restricted Subsidiary to make any principal or interest payment in an amount of
$              
or more, individually or in the aggregate, in respect of Indebtedness (other
than Non-Resource Indebtedness) of the Company or any Restricted Subsidiary
within five days of such principal or interest becoming due and payable (after
giving effect to any applicable grace period set forth in the documents
governing such Indebtedness);

(6)           a final judgment or judgments in an
amount of $              
or more, individually or in the aggregate, for the payment of money having been
entered by a court or courts of competent jurisdiction against the Company or
any of its Restricted Subsidiaries and such judgment or judgments is not
satisfied, stayed, annulled or rescinded within 60 days of being entered;

(7)           the Company or any Restricted
Subsidiary that is a Significant Subsidiary pursuant to or within the meaning
of any Bankruptcy Law:

(A)          commences a voluntary case,

(B)           consents to the entry of an order for
relief against it in an involuntary case,

(C)           consents to the appointment of a
Custodian of it or for all or substantially all of its property, or

(D)          makes a general assignment for the
benefit of its creditors;

(8)           a court of competent jurisdiction
enters an order or decree under any Bankruptcy Law that:

(A)          is for relief against the Company or
any Restricted Subsidiary that is a Significant Subsidiary as debtor in an
involuntary case,

(B)           appoints a Custodian of the Company
or any Restricted Subsidiary that is a Significant Subsidiary or a Custodian
for all or substantially all of the property of the Company or any Restricted
Subsidiary that is a Significant Subsidiary, or

(C)           orders the liquidation of the Company
or any Restricted Subsidiary that is a Significant Subsidiary, and the order or
decree remains unstayed and in effect for 60 days; or

(9)           any Guarantee of a Guarantor which is
a Significant Subsidiary ceases to be in full force and effect (other than in
accordance with the terms of such Guarantee and the 

 21
 

Indenture) or is declared null and void and
unenforceable or found to be invalid or any Guarantor denies its liability
under its Guarantee (other than by reason of release of a Guarantor from its
Guarantee in accordance with the terms of the Indenture and the Guarantee).

A Default as described in sub-clause (3) above will
not be deemed an Event of Default until the Trustee notifies the Company, or
the Holders of at least 25 percent in principal amount of the then outstanding
Securities of the applicable Series notify the Company and the Trustee, of the
Default and (except in the case of a default with respect to any Change of
Control Provisions or Article Five (or any replacement provisions as
contemplated by Article Five)) the Company does not cure the Default within 60
days after receipt of the notice.  The
notice must specify the Default, demand that it be remedied and state that the
notice is a “Notice of Default.” If such a
Default is cured within such time period, it ceases.

The term “Custodian”
means any receiver, trustee, assignee, liquidator, custodian or similar
official under any Bankruptcy Law.

Section
6.02                            Acceleration.

If an Event of Default (other than an Event of Default
with respect to the Company resulting from sub-clauses (7) or (8) above), shall
have occurred and be continuing under the Indenture, the Trustee by notice to
the Company, or the Holders of at least 25 percent in principal amount of the
Securities of the applicable Series then outstanding by notice to the Company
and the Trustee, may declare all Securities of such Series to be due and
payable immediately.  Upon such
declaration of acceleration, the amounts due and payable on the Securities of
such Series will be due and payable immediately.  If an Event of Default with respect to the
Company specified in sub-clauses (7) or (8) above occurs, all amounts due and
payable on the Securities of such Series will ipso facto become and be
immediately due and payable without any declaration, notice or other act on the
part of the Trustee and the Company or any Holder.  The Holders of a majority in principal amount
of the Securities of such Series then outstanding by written notice to the
Trustee and the Company may waive any Default or Event of Default (other than
any Default or Event of Default in payment of principal or interest) with
respect to such Series of Securities under the Indenture.  Holders of a majority in principal amount of
the then outstanding Securities of such Series may rescind an acceleration with
respect to such Series and its consequence (except an acceleration due to
nonpayment of principal or interest on the Securities of such Series) if the
rescission would not conflict with any judgment or decree and if all existing
Events of Default have been cured or waived.

No such rescission shall extend to or shall affect any
subsequent Event of Default, or shall impair any right or power consequent
thereon.

Section
6.03                            Other
Remedies.

If an Event of Default on a Series occurs and is
continuing, the Trustee may pursue any available remedy by proceeding at law or
in equity to collect the payment of principal of or interest on the Series or
to enforce the performance of any provision in the Securities or this Indenture
applicable to the Series.

 22

The Trustee may maintain a proceeding even if it does
not possess any of the Securities or does not produce any of them in the
proceeding.  A delay or omission by the
Trustee or any Securityholder in exercising any right or remedy accruing upon
an Event of Default shall not impair the right or remedy or constitute a waiver
of or acquiescence in the Event of Default. 
No remedy is exclusive of any other remedy.  All available remedies are cumulative.

Section
6.04                            Waiver
of Existing Defaults.

Subject to Section 10.02, the Holders of a majority in
principal amount of the outstanding Securities of a Series on behalf of all the
Holders of the Series by notice to the Trustee may waive an existing Default on
such Series and its consequences.  When a
Default is waived, it is cured and stops continuing, and any Event of Default
arising therefrom shall be deemed to have been cured; but no such waiver shall
extend to any subsequent or other Default or impair any right consequent
thereon.

Section
6.05                            Control
by Majority.

The Holders of a majority in principal amount of the
outstanding Securities of a Series may direct the time, method and place of
conducting any proceeding for any remedy available to the Trustee or exercising
any trust or power conferred on it with respect to such Series.  The Trustee, however, may refuse to follow
any direction (i) that conflicts with law or this Indenture, (ii) that, subject
to Section 7.01, the Trustee determines is unduly prejudicial to the rights of
other Securityholders, (iii) that would involve the Trustee in personal
liability or (iv) if the Trustee shall not have been provided with indemnity
satisfactory to it.

Section
6.06                            Limitation
on Suits.

A Securityholder of a Series may not pursue any remedy
with respect to this Indenture or the Series unless:

(1)           the Holder gives to the Trustee
written notice of a continuing Event of Default on the Series;

(2)           the Holders of at least a majority in
principal amount of the outstanding Securities of the Series make a written
request to the Trustee to pursue the remedy;

(3)           such Holder or Holders offer to the
Trustee indemnity satisfactory to the Trustee against any loss, liability or
expense;

(4)           the Trustee does not comply with the
request within 60 days after receipt of the request and the offer of indemnity;
and

(5)           no written request inconsistent with
such written request shall have been given to the Trustee pursuant to this
Section 6.06.

A Securityholder may not use this Indenture to
prejudice the rights of another Securityholder or to obtain a preference or
priority over another Securityholder.

 23
 

Section
6.07                            Rights
of Holders to Receive Payment.

Notwithstanding any other provision of this Indenture,
the right of any Holder to receive payment of principal of and interest on the
Security, on or after the respective due dates expressed in the Security, or to
bring suit for the enforcement of any such payment on or after such respective
dates, is absolute and unconditional and shall not be impaired or affected
without the consent of the Holder.

Section
6.08                            Collection
Suit by Trustee.

If an Event of Default in payment of interest or
principal specified in Section 6.01(1) or (2) occurs and is continuing, the
Trustee may recover judgment in its own name and as trustee of an express trust
against the Company for the whole amount of principal and interest remaining
unpaid.

Section
6.09                            Trustee
May File Proofs of Claim.

The Trustee may file such proofs of claim and other
papers or documents as may be necessary or advisable in order to have the
claims of the Trustee (including any claim for the reasonable compensation,
expenses, disbursements, and advances of the Trustee, its agents and counsel)
and the Securityholders allowed in any judicial proceedings relative to the
Company, its creditors or its property, and unless prohibited by applicable law
or regulation, may vote on behalf of the Holders in any election of a
Custodian, and shall be entitled and empowered to collect and receive any
moneys or other property payable or deliverable on any such claims and to
distribute the same and any Custodian in any such judicial proceeding is hereby
authorized by each Securityholder to make such payments to the Trustee.  Nothing herein shall be deemed to authorize
the Trustee to authorize or consent to or vote for or accept or adopt on behalf
of any Securityholder any plan of reorganization, arrangement, adjustment or
composition affecting the Securities or the rights of any Holder or to
authorize the Trustee to vote in respect of the claim of any Securityholder except
as aforesaid for the election of the Custodian.

Section
6.10                            Priorities.

If the Trustee collects any money pursuant to this
Article, it shall pay out the money in the following order: First: to the
Trustee for amounts due under Section 7.07; Second: to Securityholders of the
Series for amounts due and unpaid on the Series for principal and interest,
ratably, without preference or priority of any kind, according to the amounts
due and payable on the Series for principal and interest, respectively; and Third:
to the Company or the Guarantors as their interests may appear.

The Trustee may fix a record date and payment date for
any payment to Securityholders pursuant to this Section 6 10.

Section
6.11                            Undertaking
for Costs.

In any suit for the enforcement of any right or remedy
under this Indenture or in any suit against the Trustee for any action taken or
omitted by it as Trustee, a court in its discretion may require the filing by
any party litigant in the suit of an undertaking to pay the

 24
 

costs of the suit, and the court in its discretion may
assess reasonable costs, including reasonable attorneys’ fees, against any
party litigant in the suit, having the due regard to the merits and good faith
of the claims or defenses made by the party litigant.  This Section does not apply to a suit by the
Trustee, a suit by a Holder pursuant to Section 6.07 or a suit by Holders of
more than 10% in principal amount of the Series.

ARTICLE SEVEN

Trustee

Section
7.01                            Duties
of Trustee.

(a)           If an Event of Default has occurred
and is continuing, the Trustee shall, prior to the receipt of directions from
the Holders of a majority in principal amount of the Securities, exercise its
rights and powers and use the same degree of care and skill in their exercise
as a prudent man would exercise or use under the circumstances in the conduct
of his own affairs.

(b)           Except during the continuance of an
Event of Default:

(1)           The Trustee need perform only those
duties that are specifically set forth in this Indenture and no others and no
implied covenants or obligations shall be read into this Indenture against the
Trustee.

(2)           In the absence of bad faith on its
part, the Trustee may conclusively rely, as to the truth of the statements and
the correctness of the opinions expressed therein, upon certificates or
opinions furnished to the Trustee and conforming to the requirements of this
Indenture.  The Trustee, however, shall
examine the certificates and opinions to determine whether or not they conform to
the requirements of this Indenture but need not confirm or investigate the
accuracy of mathematical calculations or other facts or matters stated therein.

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

(1)           This paragraph does not limit the
effect of paragraph (b) of this Section.

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

(3)           The Trustee shall not be liable with
respect to any action it takes or omits to take in good faith in accordance
with a direction received by it pursuant to Section 6.05 or any other direction
of the Holders permitted hereunder.

(d)           Every provision of this Indenture
that in any way relates to the Trustee is subject to paragraphs (a), (b) and
(c) of this Section.

 25
 

(e)           The Trustee may refuse to perform any
duty or exercise any right or power unless it receives indemnity satisfactory
to it against any loss, liability or expense.

(f)            The Trustee shall not be liable for
interest on any money received by it except as the Trustee may agree with the
Company.  Money held in trust by the
Trustee need not be segregated from other funds except to the extent required
by law.

(g)           None of the provisions contained in
this Indenture shall require the Trustee to expend or risk its own funds or
otherwise incur financial liability in the performance of any of its duties or
in the exercise of any of its rights or powers, if there shall be reasonable
grounds for believing that the repayment of such funds or adequate indemnity
against such liability is not reasonably assured to it.

Section
7.02                            Rights
of Trustee.

Subject to Section 7.01:

(a)           The Trustee may rely and shall be
protected in acting or refraining from acting on any document, resolution,
certificate, instrument, report, or direction believed by it to be genuine and
to have been signed or presented by the proper person.  The Trustee need not investigate any fact or
matter stated in the document, resolution, certificate, instrument, report, or
direction.

(b)           Before the Trustee acts or refrains
from acting, it may require an Officers’ Certificate or an Opinion of Counsel
or both, which shall conform to Sections 11.04 and 11.05 hereof and containing
such other statements as the Trustee reasonably deems necessary to perform its
duties hereunder.  The Trustee shall not
be liable for any action it takes or omits to take in good faith in reliance on
the Officers’ Certificate, Opinion of Counsel or any other direction of the
Company permitted hereunder.

(c)           The Trustee may act through agents
and shall not be responsible for the misconduct or negligence of any agent
appointed with due care.

(d)           The Trustee shall not be liable for
any action taken, suffered or omitted by it in good faith and believed by it to
be authorized or within the discretion or rights or powers conferred upon it by
this Indenture.

(e)           The Trustee may consult with counsel,
and the written advice of such counsel or any Opinion of Counsel as to matters
of law shall be full and complete authorization and protection in respect of
any action taken, omitted or suffered by it hereunder in good faith and in
accordance with the advice or opinion of such counsel.

(f)            Unless otherwise specifically
provided in the Indenture, any demand, request, direction or notice from the
Company shall be sufficient if signed by an Officer of the Company.

(g)           For all purposes under this
Indenture, the Trustee shall not be deemed to have notice or knowledge of any
Event of Default (other than under Section 6.01(1) or 6.01(2)) 

 26
 

unless a Trust Officer assigned to and working in the
Trustee’s corporate trust office has actual knowledge thereof or unless written
notice of any Event of Default is received by the Trustee at its address
specified in Section 11.02 hereof and such notice references the Securities
generally, the Company or this Indenture.

Section
7.03                            Individual
Rights of Trustee.

The Trustee in its individual or any other capacity
may become the owner or pledgee of Securities and may otherwise deal with the
Company or its affiliates with the same rights it would have if it were not
Trustee.  Any Agent may do the same with
like rights.  The Trustee, however, must
comply with Sections 7.10 and 7.11.

Section 7.04                            Trustee’s
Disclaimer.

The Trustee makes no representation as to the validity
or adequacy of this Indenture, the Securities or of any prospectus used to sell
the Securities; it shall not be ac countable for the Company’s use of the
proceeds from the Securities; it shall not be accountable for any money paid to
the Company, or upon the Company’s direction, if made under and in accordance
with any provision of this Indenture; it shall not be responsible for the use
or application of any money received by any Paying Agent other than the
Trustee; and it shall not be responsible for any statement of the Company in
this Indenture or in the Securities other than its certificate of
authentication.

Section
7.05                            Notice
of Defaults.

If a Default on a Series occurs and is continuing and
if it is known to the Trustee, the Trustee shall mail to each Securityholder of
the Series notice of the Default (which shall specify any uncured Default known
to it) within 90 days after it occurs. 
Except in the case of a default in payment of principal of or interest
on a Series, the Trustee may withhold the notice if and so long as the board of
directors of the Trustee, the executive or any trust committee of such
directors and/or responsible officers of the Trustee in good faith determine(s)
that withholding the notice is in the interests of Holders of the Series.

Section
7.06                            Reports
by Trustee to Holders.

Within 60 days after each May 15 beginning with the
May 15 following the date of this Indenture, the Trustee shall mail to each
Securityholder a brief report dated as of such May 15 that complies with TIA
ss. 313(a) (but if no event described in TIA ss. 313(2) has occurred within the
twelve months preceding the reporting date no report need be transmitted).  The Trustee also shall comply with TIA ss.
313(b).

A copy of each report at the time of its mailing to
Securityholders shall be delivered to the Company and filed by the Trustee with
the SEC and each national securities exchange on which the Securities are
listed.  The Company agrees to notify the
Trustee of each national securities exchange on which the Securities are
listed.

 27
 

Section
7.07                            Compensation
and Indemnity.

The Company shall pay to the Trustee or predecessor
trustee from time to time reasonable compensation for their respective services
subject to any written agreement between the Trustee and the Company.  The Company shall reimburse the Trustee upon
request for all reasonable out-of-pocket expenses incurred by it.  Such expenses shall include the reasonable
compensation and expenses of the Trustee’s agents and counsel.  The Company shall indemnify the Trustee and
each predecessor trustee, its officers, directors, employees and agents and
hold it harmless against any loss, liability or expense incurred or made by or
on behalf of it in connection with the administration of this Indenture or the
trust hereunder and its duties hereunder including the costs and expenses of
defending itself against or investigating any claim in the premises.  The Trustee shall notify the Company promptly
of any claim for which it may seek indemnity. 
The Company need not reimburse any expense or indemnify against any loss
or liability incurred by the Trustee through the Trustee’s, or its officers’,
directors’, employees’ or agents’ negligence or bad faith.

To ensure the Company’s payment obligations in this
Section, the Trustee shall have a claim prior to the Securities on all money or
property held or collected by the Trustee, except that held in trust to pay
principal of or interest on particular Securities.  When the Trustee incurs expenses or renders
services in connection with an Event of Default specified in Section 6.01 or in
connection with Article 6 hereof, the expenses (including the reasonable fees
and expenses of its counsel) and the compensation for services in connection
therewith are to constitute expenses of administration under any bankruptcy
law.

Section
7.08                            Replacement
of Trustee.

The Trustee may resign by so notifying the Company.  The Holders of a majority in principal amount
of the outstanding Securities may remove the Trustee by so notifying the
removed Trustee in writing and may appoint a successor trustee with the Company’s
consent.  Such resignation or removal
shall not take effect until the appointment by the Securityholders or the
Company as hereinafter provided of a successor trustee and the acceptance of
such appointment by such successor trustee. 
The Company may remove the Trustee and any Securityholder may petition
any court of competent jurisdiction for the removal of the Trustee and the
appointment of a successor trustee for any or no reason, including if:

(1)           the Trustee fails to comply with
Section 7.10 after written request by the Company or any bona fide Securityholder
who has been a Securityholder for at least six months;

(2)           the Trustee is adjudged a bankrupt or
an insolvent;

(3)           a receiver or other public officer
takes charge of the Trustee or its property; or (4) the Trustee becomes
incapable of acting.

If the Trustee resigns or is removed or if a vacancy
exists in the office of Trustee for any reason, the Company shall promptly
appoint a successor trustee.  If a
successor trustee does not take office within 45 days after the retiring
Trustee resigns or is removed, the retiring Trustee, the Company or any Holder
may petition any court of competent jurisdiction for the appointment of a
successor trustee.

 28
 

A successor trustee shall deliver a written acceptance
of its appointment to the retiring Trustee and to the Company.  Immediately after that, the retiring Trustee
shall transfer all property held by it as Trustee to the successor trustee, the
resignation or removal of the retiring Trustee shall become effective, and the
successor trustee shall have all the rights, powers and duties of the Trustee
under this Indenture.  A successor
trustee shall mail notice of its succession to each Securityholder.

Section
7.09                            Successor
Trustee by Merger, etc.

If the Trustee consolidates with, merges with or into
or converts into, or transfers all or substantially all of its corporate trust
business to, another corporation, the successor corporation without any further
act shall be the successor trustee.

Section
7.10                            Eligibility;
Disqualification.

This Indenture shall always have a Trustee who
satisfies the requirements of TIA ss. 310(a)(1).  The Trustee shall have a combined capital and
surplus of at least $10,000,000 as set forth in its most recent published
annual report of condition.  The Trustee
shall comply with TIA ss. 310(b).

Section
7.11                            Preferential
Collection of Claims Against Company.

The Trustee shall comply with TIA ss. 311(a),
excluding any creditor relationship listed in TIA ss. 311(b).  A Trustee who has resigned or been removed
shall be subject to TIA ss. 311(a) to the extent indicated therein.

ARTICLE EIGHT

Discharge of Indenture

Section
8.01                            Defeasance
upon Deposit of Moneys or U.S. Government Obligations.

(a)           The Company may, at its option and,
subject to the provisions of Article Twelve and Article Thirteen hereof, at any
time, elect to have either paragraph (b) or paragraph (c) below be applied to
the outstanding Securities of any Series upon compliance with the applicable
conditions set forth in paragraph (d).

(b)           Upon the Company’s exercise under
paragraph (a) of the option applicable to this paragraph (b), the Company and
the Guarantors shall be deemed to have been released and discharged from their
respective obligations with respect to the outstanding Securities of a Series
on the date the applicable conditions set forth below are satisfied
(hereinafter, “Legal  Defeasance”).  For
this purpose, such Legal Defeasance means that the Company shall be deemed to
have paid and discharged the entire Indebtedness represented by the outstanding
Securities of a Series, which shall thereafter be deemed to be “outstanding”
only for the purposes of the Sections and matters under this Indenture referred
to in (i) and (ii) below, and to have satisfied all its other obligations under
such Securities and this Indenture insofar as such Securities are concerned,
except for the following which shall survive until otherwise terminated or
discharged hereunder: (i) the rights of Holders of outstanding Securities of a
Series to receive

 29
 

solely from the trust fund described in paragraph (d)
below and as more fully set forth in such paragraph, payments in respect of the
principal of and interest on such Securities when such payments are due and
(ii) obligations listed in Section 8.02, subject to compliance with this
Section 8.01.  The Company may exercise
its option under this paragraph (b) notwithstanding the prior exercise of its
option under paragraph (c) below with respect to such Securities.

(c)           Upon the Company’s exercise under
paragraph (a) of the option applicable to this paragraph (c), the Company and
the Guarantors shall be released and discharged from the obligations under any
covenant contained in Article Five, Section 4.05 and any other covenant
contained in the Authorizing Resolution or supplemental indenture relating to
such Series to the extent provided for therein, on and after the date the
conditions set forth below are satisfied (hereinafter, “Covenant
Defeasance”), and the Securities of such Series shall thereafter be
deemed to be not “outstanding” for the purpose of any direction, waiver,
consent or declaration or act of Holders (and the consequences of any thereof)
in connection with such covenants, but shall continue to be deemed “outstanding”
for all other purposes hereunder.  For
this purpose, such Covenant Defeasance means that, with respect to the
outstanding Securities of a Series, the Company may omit to comply with and
shall have no liability in respect of any term, condition or limitation set
forth in any such covenant, whether directly or indirectly, by reason of any
reference elsewhere herein to any such covenant or by reason of any reference
in any such covenant to any other provision herein or in any other document and
such omission to comply shall not constitute a Default or an Event of Default
under Section 6.01(3), but, except as specified above, the remainder of this
Indenture and such Securities shall be unaffected thereby.

(d)           The following shall be the conditions
to application of either paragraph (b) or paragraph (c) above to the
outstanding Securities of the applicable Series:

(1)           The Company shall have irrevocably
deposited in trust with the Trustee, pursuant to an irrevocable trust and
security agreement in form and substance reasonably satisfactory to the
Trustee, money in U.S. dollars or U.S. government obligations or a combination
thereof in such amounts and at such times as are sufficient, in the opinion of
a nationally recognized firm of independent public accountants, to pay the
principal of and interest on the outstanding Securities of such Series to
maturity or redemption; provided, however, that the Trustee (or other
qualifying trustee) shall have received an irrevocable written order from the
Company instructing the Trustee (or other qualifying trustee) to apply such
money or the proceeds of such U.S. government obligations to said payments with
respect to the Securities of such Series to maturity or redemption;

(2)           No Default or Event of Default shall
have occurred and be continuing on the date of such deposit;

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

(4)           (i) In the event the Company elects
paragraph (b) hereof, the Company shall deliver to the Trustee an Opinion of
Counsel in the United States, in form and substance 

 30
 

reasonably satisfactory to the Trustee, to the effect
that (A) the Company has received from, or there has been published by, the
Internal Revenue Service a ruling or (B) since the Issue Date pertaining to
such Series, there has been a change in the applicable federal income tax law,
in either case to the effect that, and based thereon such Opinion of Counsel
shall state that, or (ii) in the event the Company elects paragraph (c) hereof,
the Company shall deliver to the Trustee an Opinion of Counsel in the United
States, in form and substance reasonably satisfactory to the Trustee, to the
effect that, in the case of clauses (i) and (ii), Holders of the Securities of
such Series will not recognize income, gain or loss for federal income tax
purposes as a result of such deposit and the defeasance contemplated hereby and
will be subject to federal income tax in the same amounts and in the same
manner and at the same times as would have been the case if such deposit and
defeasance had not occurred;

(5)           The Company shall have delivered to
the Trustee an Officers’ Certificate, stating that the deposit under clause (1)
was not made by the Company with the intent of preferring the Holders of the
Securities of such Series over any other creditors of the Company or with the
intent of defeating, hindering, delaying or defrauding any other creditors of
the Company or others;

(6)           The Company shall have delivered to
the Trustee an Opinion of Counsel, reasonably satisfactory to the Trustee, to
the effect that, (A) the trust funds will not be subject to the rights of
Holders of Indebtedness of the Company other than the Securities of such Series
and (B) assuming no intervening bankruptcy of the Company between the date of
deposit and the 91st day following the deposit and that no Holder of Securities
of such Series is an insider of the Company, after the 91st day following the
deposit, the trust funds will not be subject to any applicable bankruptcy,
insolvency, reorganization or similar law affecting creditors’ rights
generally; and

(7)           The Company has delivered to the
Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that
all conditions precedent specified herein relating to the defeasance
contemplated by this Section 8.01 have been complied with.  In the event all or any portion of the Securities
of a Series are to be redeemed through such irrevocable trust, the Company must
make arrangements satisfactory to the Trustee, at the time of such deposit, for
the giving of the notice of such redemption or redemptions by the Trustee in
the name and at the expense of the Company.

(e)           In addition to the Company’s rights
above under this Section 8.01, the Company may terminate all of its obligations
under this Indenture with respect to a Series, and the obligations of the
Guarantors shall terminate with respect to such Series (subject to Section
8.02), when:

(1)           All Securities of such Series
theretofore authenticated and delivered (other than Securities which have been
destroyed, lost or stolen and which have been replaced or paid as provided in
Section 2.07 and Securities for whose payment money has theretofore been
deposited in trust or segregated and held in trust by the Company and
thereafter repaid to the Company or discharged from such trust) have been
delivered to the Trustee for cancellation or all such Securities not
theretofore delivered to the Trustee for cancellation have become due and
payable and the Company has irrevocably deposited or caused to be deposited
with the Trustee 

 31
 

as trust funds in trust solely for that purpose an
amount of money sufficient to pay and discharge the entire Indebtedness on the
Securities not theretofore delivered to the Trustee for cancellation, for
principal of and interest;

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

(3)           The Company has delivered irrevocable
instructions to the Trustee to apply the deposited money toward the payment of
the Securities at maturity or redemption, as the case may be; and

(4)           The Company has delivered to the
Trustee an Officers’ Certificate and an Opinion of Counsel, stating that all
conditions precedent specified herein relating to the satisfaction and
discharge of this Indenture have been complied with.

Section
8.02                            Survival
of the Company’s Obligations.

Notwithstanding the satisfaction and discharge of the
Indenture under Section 8.01, the Company’s obligations in paragraph 9 of the
Securities and Sections 2.03 through 2.07, 4.01, 7.07, 7.08, 8.04 and 8.05,
however, shall survive until the Securities of an applicable Series are no
longer outstanding.  Thereafter, the
Company’s obligations in paragraph 9 of the Securities of such Series and
Sections 7.07, 8.04 and 8.05 shall survive (as they relate to such Series).

Section
8.03                            Application
of Trust Money.

The Trustee shall hold in trust money or U.S.
government obligations deposited with it pursuant to Section 8.01.  It shall apply the deposited money and the
money from U.S. government obligations in accordance with this Indenture to the
payment of principal of and interest on the Securities of the defeased Series.

Section
8.04                            Repayment
to the Company.

The Trustee and the Paying Agent shall promptly pay to
the Company upon request any excess money or securities held by them at any
time.  The Trustee and the Paying Agent
shall pay to the Company upon request any money held by them for the payment of
principal or interest that remains unclaimed for two years, 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 of general circulation in the City of New York or mail to each such
Holder 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 or mailing, any unclaimed balance of such money then remaining will
be repaid to the Company.  After payment
to the Company, Securityholders entitled to the money must look to the Company
or any Guarantor for payment as general creditors unless applicable abandoned
property law designates another person and all liability of the Trustee or such
Paying Agent with respect to such money shall cease.

 32
 

Section
8.05                            Reinstatement.

If the Trustee is unable to apply any money or U.S.
government obligations in accordance with Section 8.01 by reason of any legal
proceeding or by reason of any order or judgment of any court or governmental
authority enjoining, restraining or otherwise prohibiting such application, the
Company’s and each Guarantor’s obligations under this Indenture and the
Securities relating to the Series shall be revived and reinstated as though no
deposit had occurred pursuant to Section 8.01 until such time as the Trustee is
permitted to apply all such money or U.S. government obligations in accordance
with Section 8.01; provided, however, that (a) if the Company has made any
payment of interest on or principal of any Securities of the Series because of
the reinstatement of their obligations, the Company shall be subrogated to the
rights of the Holders of such Securities to receive such payment from the money
or U.S. government obligations held by the Trustee and (b) unless otherwise
required by any legal proceeding or any order or judgment of any court or
governmental authority, the Trustee shall return all such money or U.S.
government obligations to the Company promptly after receiving a written
request therefor at any time, if such reinstatement of the Company’s
obligations has occurred and continue to be in effect.

ARTICLE NINE

Guarantees

Section
9.01                            Unconditional
Guarantees.

Subject to any other provisions set forth in the
Authorizing Resolution or supplemental indenture relating to a particular
Series, each Guarantor hereby unconditionally, jointly and severally,
guarantees (each such guarantee to be referred to herein as the “Guarantee”) to each Holder of Securities of such Series
authenticated and delivered by the Trustee and to the Trustee and its
successors and assigns, that: (i) the principal of and interest on the
Securities of such Series will be promptly paid in full when due, subject to
any applicable grace period, whether at maturity, by acceleration or otherwise
and interest on the overdue principal, if any, and interest on any interest of
the Securities of such Series and all other obligations of the Company to the
Holders or the Trustee hereunder or thereunder, except obligations to pay
principal and interest in any other Series not so guaranteed, will be promptly
paid in full or performed, all in accordance with the terms hereof and thereof;
and (ii) in case of any ex tension of time of payment or renewal of any
Securities of such Series or of any such other obligations, the same will be
promptly paid in full when due or performed in accordance with the terms of the
extension or renewal, subject to any applicable grace period, whether at stated
maturity, by acceleration or otherwise, subject, however, in the case of
clauses (i) and (ii) above, to the limitations set forth in Section 9.04.  Each Guarantor hereby agrees that its
obligations hereunder shall be unconditional, irrespective of the validity,
regularity or enforceability of the Securities of such Series or this
Indenture, the absence of any action to enforce the same, any waiver or consent
by any Holder of the Securities of such Series with respect to any provisions
hereof or thereof, the recovery of any judgment against the Company, any action
to enforce the same or any other circumstance which might otherwise constitute
a legal or equitable discharge or defense of a guarantor.  Each Guarantor hereby waives diligence,
presentment, demand of payment, 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, notice and all demands whatsoever and covenants
that, subject to Section 9.03, this Guarantee

 33

will not be discharged except by complete performance
of the obligations contained in the Securities of the applicable Series, this
Indenture and in this Guarantee.  If any
Holder or the Trustee is required by any court or otherwise to return to the
Company, any Guarantor, or any custodian, trustee, liquidator or other similar
official acting in relation to the Company or any Guarantor, any amount paid by
the Company or any Guarantor to the Trustee or such Holder, this Guarantee, to
the extent theretofore discharged, shall be reinstated in full force and
effect.  Each Guarantor further agrees
that, as between each Guarantor, on the one hand, and the Holders and the
Trustee, on the other hand, (x) the maturity of the obligations guaranteed
hereby may be accelerated as provided in Article Six for the purposes of this
Guarantee, notwithstanding any stay, injunction or other prohibition preventing
such acceleration in respect of the obligations guaranteed hereby, and (y) in
the event of any acceleration of such obligations as provided in Article Six,
such obligations (whether or not due and payable) shall forthwith become due
and payable by each Guarantor for the purpose of this Guarantee.

Section
9.02                            Severability.

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

Section
9.03                            Release
of a Guarantor.

Upon the sale or disposition (whether by merger, stock
purchase, asset sale or otherwise) of a Guarantor (or all or substantially all
its assets) to an entity which is not a Restricted Subsidiary and which sale or
disposition is otherwise in compliance with the terms of this Indenture, or,
unless the Company elects otherwise, if any Guarantor is designated as an
Unrestricted Subsidiary in accordance with the terms of this Indenture, then
such Guarantor (in the event of a sale or other disposition of Capital Stock of
such Guarantor or a designation as an Unrestricted Subsidiary) or the Person
acquiring such assets (in the event of a sale or other disposition of all or
substantially all of the assets of such Guarantor) shall be deemed
automatically and unconditionally released and discharged from all obligations
under this Article Nine without any further action required on the part of the
Trustee or any Holder.

An Unrestricted Subsidiary that is a Guarantor shall
be deemed automatically and unconditionally released and discharged from all
obligations under this Article Nine upon notice from the Company to the Trustee
to such effect, without any further action required on the part of the Trustee
or any Holder.

The Trustee shall deliver an appropriate instrument
evidencing any such release upon receipt of a request by the Company
accompanied by an Officers’ Certificate and Opinion of Counsel certifying as to
the compliance with this Section 9.03.

Any Guarantor not released in accordance with this
Section 9.03 remains liable for the full amount of principal of and interest on
the Securities as provided in this Article Nine.

 34
 

Section
9.04                            Limitation
of a Subsidiary Guarantor’s Liability.

Each Guarantor and by its acceptance hereof each
Holder hereby confirms that it is the intention of all such parties that the
guarantee by such Guarantor pursuant to its Guarantee not constitute a
fraudulent transfer or conveyance for purposes of the Bankruptcy Law, the
Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any
similar Federal or state law.  To
effectuate the foregoing intention, the Holders and such Guarantor hereby
irrevocably agree that the obligations of such Guarantor under the Guarantee
shall be limited to the maximum amount as will, after giving effect to all
other contingent and fixed liabilities of such Guarantor and after giving
effect to any collections from or payments made by or on behalf of any other
Guarantor in respect of the obligations of such other Guarantor under its
Guarantee or pursuant to Section 9.06, result in the obligations of such
Guarantor under the Guarantee not constituting such fraudulent transfer or
conveyance.

Section
9.05                            Guarantors
May Consolidate, etc., on Certain Terms.

Nothing contained in this Indenture or in any of the
Securities shall prevent any consolidation or merger of a Guarantor with or
into the Company or another Restricted Guarantor, or shall prevent any sale of
assets or conveyance of the property of a Subsidiary Guarantor as an entirety
or substantially as an entirety to the Company or another Guarantor that is a
Restricted Subsidiary of the Company. 
Upon any such consolidation, merger, sale or conveyance, the Guarantee
given by such Guarantor shall no longer have any force or effect.

Section
9.06                            Contribution.

In order to provide for just and equitable contribution
among the Guarantors, the Guarantors agree, inter se, that in the event any
payment or distribution is made by any Guarantor (a “Funding
Guarantor”) under the Guarantee, such Funding Guarantor shall be
entitled to a contribution from all other Guarantors in a pro rata amount based
on the Adjusted Net Assets of each Guarantor (including the Funding Guarantor)
for all payments, damages and expenses incurred by that Funding Guarantor in
discharging the Company’s obligations with respect to any Securities or any
other Guarantor’s obligations with respect to the Guarantee.  “Adjusted Net Assets”
of such Guarantor at any date shall mean the lesser of the amount by which (x)
the fair value of the property of such Guarantor exceeds the total amount of
liabilities, including, without limitation, contingent liabilities (after
giving effect to all other fixed and contingent liabilities incurred or assumed
on such date and after giving effect to any collection from any other
Subsidiary of the Guarantor in respect of the obligations of its Guarantee),
but excluding liabilities under the Guarantee, of such Guarantor at such date
and (y) the present fair salable value of the assets of such Guarantor at such
date exceeds the amount that will be required to pay the probable liability of
such Guarantor on its debts (after giving effect to all other fixed and
contingent liabilities incurred or assumed on such date and after giving effect
to any collection from any other Subsidiary of the Company in respect of the
obligations of such Guarantor under its Guarantee), excluding debt in respect
of the Guarantee of such Guarantor, as they become absolute and matured.

Section
9.07                            Waiver
of Subrogation.

Until all guaranteed obligations under this Indenture
and with respect to all Securities of an applicable Series are paid in full,
each Guarantor hereby irrevocably waives any 

 35
 

claim or other rights which it may now or hereafter
acquire against the Company that arise from the existence, payment, performance
or enforcement of such Guarantor’s obligations under the Guarantee and this
Indenture, including, without limitation, any right of subrogation,
reimbursement, exoneration, indemnification, and any right to participate in
any claim or remedy of any Holder of Securities of the applicable Series
against the Company, whether or not such claim, remedy or right arises in
equity, or under contract, statute or common law, including, without
limitation, the right to take or receive from the Company, directly or
indirectly, in cash or other property or by set-off or in any other manner,
payment or security on account of such claim or other rights.  If any amount shall be paid to any Guarantor
in violation of the preceding sentence and the Securities of the applicable
Series shall not have been paid in full, such amount shall have been deemed to
have been paid to such Guarantor for the benefit of, and held in trust for the
benefit of, the Holders of the Securities of the applicable Series, and shall
forthwith be paid to the Trustee for the benefit of such Holders to be credited
and applied upon the Securities of the applicable Series, whether matured or
unmatured, in accordance with the terms of this Indenture.  Each Guarantor acknowledges that it will receive
direct and indirect benefits from the financing arrangements contemplated by
this Indenture and that the waiver set forth in this Section 9.07 is knowingly
made in contemplation of such benefits.

Section
9.08                            Execution
of Guarantee.

To evidence their guarantee to the Holders set forth
in this Article Nine, the Guarantors hereby agree to execute the Guarantee in
substantially the form included in Exhibit A or in any such other form
set forth in the Authorizing Resolution or supplemental indenture pertaining to
the applicable Series, which shall be endorsed on each Security ordered to be
authenticated and delivered by the Trustee. 
Each Guarantor hereby agrees that its Guarantee set forth in this
Article Nine shall remain in full force and effect notwithstanding any failure
to endorse on each Security a notation of such Guarantee.  Each such Guarantee shall be signed on behalf
of each Guarantor by two Officers, or an Officer and an Assistant Secretary or
one Officer shall sign and one Officer or an Assistant Secretary (each of whom
shall, in each case, have been duly authorized by all requisite corporate
actions) shall attest to such Guarantee prior to the authentication of the
Security on which it is endorsed, and the delivery of such Security by the
Trustee, after the authentication thereof hereunder, shall constitute due
delivery of such Guarantee on behalf of such Guarantor.  Such signatures upon the Guarantee may be by
manual or facsimile signature of such officers and may be imprinted or
otherwise reproduced on the Guarantee, and in case any such officer who shall
have signed the Guarantee shall cease to be such officer before the Security on
which such Guarantee is endorsed shall have been authenticated and delivered by
the Trustee or disposed of by the Company, such Security nevertheless may be
authenticated and delivered or disposed of as though the person who signed the
Guarantee had not ceased to be such officer of the Guarantor.

 36
 

ARTICLE TEN

Amendments, Supplements and Waivers

Section
10.01                     Without
Consent of Holders.

The Company, the Guarantors and the Trustee may amend
or supplement this Indenture or the Securities of a Series without notice to or
consent of any Securityholder of such Series:

(1)           to cure any ambiguity,
omission, defect or inconsistency;

(2)           to comply with Article
Five;

(3)           to provide that
specific provisions of this Indenture shall not apply to a Series not
previously issued;

(4)           to create a Series and
establish its terms;

(5)           to provide for
uncertificated Securities in addition to or in place of certificated Securities;

(6)           to make any other
change that does not adversely affect the rights of Securityholders; and

(7)           to remove a Guarantor
in respect of any Series which, in accordance with the terms of this Indenture
applicable to the particular Series, ceases to be liable in respect of its
Guarantee.

After an amendment under this Section 10.01 becomes
effective, the Company shall mail notice of such amendment to the
Securityholders.

Section
10.02                     With
Consent of Holders.

The Company, the Guarantors and the Trustee may amend
or supplement this Indenture or the Securities of a Series without notice to
any Securityholder of such Series but with the written consent of the Holders
of at least a majority in principal amount of the outstanding Securities of
each such Series affected by the amendment. 
Each such Series shall vote as a separate class. The Holders of a
majority in principal amount of the outstanding Securities of any Series may
waive compliance by the Company with any provision of the Securities of such
Series or of this Indenture relating to such Series without notice to any
Securityholder.  Without the consent of
each Securityholder of a Series affected, however, an amendment, supplement or
waiver, including a waiver pursuant to Section 6.04, may not:

(1)           reduce the amount of
Securities of such Series whose Holders must consent to an amendment,
supplement or waiver;

(2)           reduce the rate of or
change the time for payment of interest, including defaulted interest, on any
Security;

(3)           reduce the principal of
or change the fixed maturity of any Security or alter the provisions (including
related definitions) with respect to redemption of Securities pursuant to
Article Three hereof or with respect to any obligations on the part of the
Company to 

 37
 

offer to purchase or to redeem Securities of a Series
pursuant to the Authorizing Resolution or supplemental indenture pertaining to
such Series;

(4)           modify the ranking or
priority of the Securities of any Series or the Guarantee thereof;

(5)           release any Guarantor
from any of its obligations under its Guarantee or this Indenture otherwise
than in accordance with the terms of this Indenture;

(6)           make any change in
Sections 6.04, 6.07 or this 10.02;

(7)           waive a continuing
Default or Event of Default in the payment of the principal of or interest on
any Security; or

(8)           make any Security
payable at a place or in money other than that stated in the Security, or
impair the right of any Securityholder to bring suit as permitted by Section
6.07.

An amendment of a provision included solely for the
benefit of one or more Series does not affect the interests of Securityholders
of any other Series.

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

Section
10.03                     Compliance
with Trust Indenture Act.

Every amendment to or supplement of this Indenture or
the Securities shall comply with the TIA as then in effect.

Section
10.04                     Revocation
and Effect of Consents.

A consent to an amendment, supplement or waiver by a
Holder shall bind the Holder and every subsequent Holder of a Security or
portion of a Security that evidences the same debt as the consenting Holder’s
Security, even if notation of the consent is not made on any Security.  Subject to the following paragraph, any such
Holder or subsequent Holder, however, may revoke the consent as to his Security
or portion of a Security.  Such
revocation shall be effective only if the Trustee receives the notice of
revocation before the date the amendment, supplement or waiver becomes
effective.

The Company may, but shall not be obligated to, fix a
record date for the purpose of determining the Holders of Securities of any
Series entitled to consent to any amendment, supplement or waiver, which record
date shall be at least 10 days prior to the first solicitation of such
consent.  If a record date is fixed, then
notwithstanding the last sentence of the immediately preceding paragraph, those
Persons who were Holders at such record date (or their duly designated
proxies), and only those Persons, shall be entitled to revoke any consent
previously given, whether or not such Persons continue to be Holders after such
record date.  No such consent shall be valid
or effective for more than 90 days after such record date.

 38
 

After an amendment, supplement or waiver becomes
effective, it shall bind every Holder, unless it makes a change described in
any of clauses (1) through (8) of Section 10.02, in which case, the amendment,
supplement or waiver shall bind only each Holder of a Security who has
consented to it and every subsequent Holder of a Security or portion of a
Security that evidences the same debt as the consenting Holder’s Security;
provided that any such waiver shall not impair or affect the right of any
Holder to receive payment of principal of and interest on a Security, on or
after the respective due dates expressed in such Security, or to bring suit for
the enforcement of any such payment on or after such respective dates without
the consent of such Holder.

Section
10.05                     Notation
on or Exchange of Securities.

If an amendment, supplement or waiver changes the
terms of a Security, the Company may require the Holder of the Security to
deliver it to the Trustee, at which time the Trustee shall place an appropriate
notation on the Security about the changed terms and return it to the
Holder.  Alternatively, if the Company or
the Trustee so determines, the Company in exchange for the Security shall issue
and the Trustee shall authenticate a new Security that reflects the changed
terms.

Section
10.06                     Trustee
to Sign Amendments, etc.

Subject to Section 7.02(b), the Trustee shall sign any
amendment, supplement or waiver authorized pursuant to this Article if the amendment,
supplement or waiver does not adversely affect the rights, duties, liabilities
or immunities of the Trustee.  If it
does, the Trustee may but need not sign it. 
In signing or refusing to sign such amendment or supplemental indenture,
the Trustee shall be entitled to receive and shall be fully protected in
relying upon, an Officers’ Certificate and an Opinion of Counsel as conclusive
evidence that such amendment or supplemental indenture is authorized or
permitted by this Indenture, that it is not inconsistent herewith, and that it
will be valid and binding upon the Company in accordance with its terms.

ARTICLE ELEVEN

Miscellaneous

Section
11.01                     Trust
Indenture Act Controls.

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

Section
11.02                     Notices.

Any order, consent, notice or communication shall be
sufficiently given if in writing and delivered in person or mailed by first
class mail, postage prepaid, addressed as follows: if to the Company or to any
Guarantor:

 39
 

Nova Biosource Fuels, Inc.

2777 Allen Parkway, Suite 860

Houston, Texas 77019

Attention: President

if to the Trustee:

Attention:

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

Any notice or communication mailed to a Securityholder
shall be mailed to him by first class mail at his address as it appears on the
registration books of the Registrar and shall be sufficiently given to him if
so mailed within the time prescribed.

Failure to mail a notice or communication to a
Securityholder or any defect in it shall not affect its sufficiency with
respect to other Securityholders.  If a
notice or communication is mailed in the manner provided above, it is duly
given, whether or not the addressee receives it except that notice to the
Trustee shall only be effective upon receipt thereof by the Trustee.

If the Company mails notice or communications to the
Securityholders, it shall mail a copy to the Trustee at the same time.

Section
11.03                     Communications
by Holders with Other Holders.

Securityholders may communicate pursuant to TIA ss.
312(b) with other Securityholders with respect to their rights under this
Indenture or the Securities.  The
Company, the Trustee, the Registrar and anyone else shall have the protection
of TIA ss. 312(c).

Section
11.04                     Certificate
and Opinion as to Conditions Precedent.

Upon any request or application by the Company to the
Trustee to take any action under this Indenture, the Company shall furnish to
the Trustee:

(1)           an Officers’
Certificate (which shall include the statements set forth in Section 11.05)
stating that, in the opinion of the signers, all conditions precedent, if any,
provided for in this Indenture relating to the proposed action have been
complied with; and

(2)           an Opinion of Counsel
(which shall include the statements set forth in Section 11.05) stating that,
in the opinion of such counsel, all such conditions precedent and covenants,
compliance with which constitutes a condition precedent, if any, provided for
in this Indenture relating to the proposed action or inaction, have been
complied with and that any such section does not conflict with the terms of the
Indenture.

 40
 

Section
11.05                     Statements
Required in Certificate or Opinion.

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

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

(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 such person, 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
or not, in the opinion of such person, such condition or covenant has been
complied with.

Section
11.06                     Rules
by Trustee and Agents.

The Trustee may make reasonable rules for action by or
a meeting of Securityholders.  The
Registrar or Paying Agent may make reasonable rules for its functions.

Section
11.07                     Legal
Holidays.

A “Legal Holiday”
is a Saturday, a Sunday, a legal holiday or a day on which banking institutions
in Houston, Texas and New York, New York are not required to be open.  If a payment date is a Legal Holiday at a
place of payment, payment may be made at that place on the next succeeding day
that is not a Legal Holiday, and no interest shall accrue for the intervening
period.  A “Business Day”
is any day other than a Legal Holiday.

Section
11.08                     Governing
Law.

THIS
INDENTURE, THE SECURITIES OF EACH SERIES AND THE GUARANTEES AND ALL DISPUTES OR
CONTROVERSIES ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OF
EACH SERIES AND THE GUARANTEES OR THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE
OF NEW YORK, WITHOUT REGARD TO THE LAWS OF ANY OTHER JURISDICTION THAT MIGHT BE
APPLIED BECAUSE OF PRINCIPLES OF CONFLICTS OF LAWS.

Section
11.09                     No
Adverse Interpretation of Other Agreements.

This Indenture may not be used to interpret another
indenture, loan or debt agreement of the Company or a Subsidiary.  Any such indenture, loan or debt agreement
may not be used to interpret this Indenture.

 41
 

Section
11.10                     No
Recourse Against Others.

All liability described in paragraph 13 of the
Securities of any director, officer, employee or stockholder, as such, of the
Company is waived and released.

Section
11.11                     Successors
and Assigns.

All covenants and agreements of the Company in this
Indenture and the Securities shall bind its successors and assigns.  All agreements of the Trustee in this
Indenture shall bind its successors and assigns.

Section
11.12                     Duplicate
Originals.

The parties may sign any number of copies of this
Indenture.  Each signed copy shall be an
original, but all of them together represent the same agreement.

Section
11.13                     Severability.

In case any one or more of the provisions contained in
this Indenture or in the Securities of a Series shall for any reason be held to
be invalid, illegal or unenforceable in any respect, such invalidity,
illegality or unenforceability shall not affect any other provisions of this
Indenture or of such Securities.

ARTICLE TWELVE

Subordination of
Securities

Section
12.01                     Securities
Subordinated to Senior Indebtedness.

The Company covenants and agrees, and the Trustee and
each Holder of the Securities by his acceptance thereof likewise covenant and
agree, that all Securities shall be issued subject to the provisions of this
Article Twelve; and each person holding any Security, whether upon original
issue or upon transfer, assignment or exchange thereof, accepts and agrees that
all payments of the principal of and interest on the Securities by the Company
shall, to the extent and in the manner set forth in this Article Twelve, be
subordinated and junior in right of payment to the prior payment in full in
cash of all amounts payable under Senior Indebtedness.

Section
12.02                     No
Payment on Securities in Certain Circumstances.

(a)           No direct or indirect
payment (excluding any payment or distribution of Permitted Junior Securities)
by or on behalf of the Company of principal of or interest on the Securities,
except from those funds held in trust for the benefit of Holders of any
Securities pursuant to the procedures set forth in Article Eight hereof,
whether pursuant to the terms of the Securities, upon acceleration or
otherwise, shall be made if, at the time of such payment, there exists a
default in the payment of all or any portion of the obligations on any Senior
Indebtedness, whether at maturity, on account of mandatory redemption or
prepayment, acceleration or otherwise, and such default shall not have been
cured or waived or the benefits of this sentence waived by or on behalf of the
holders of such Senior Indebtedness. In addition, during the continuance of any
non-payment event of default with respect to any Designated Senior Indebtedness
pursuant to which the maturity thereof may be immediately accelerated, and

 42
 

upon receipt by the Trustee of written notice (a “Payment Blockage Notice” ) from the holder or holders of
such Designated Senior Indebtedness or the trustee or agent acting on behalf of
such Designated Senior Indebtedness, then, unless and until such event of
default has been cured or waived or has ceased to exist or such Designated
Senior Indebtedness has been discharged or repaid in full in cash or the
benefits of these provisions have been waived by the holders of such Designated
Senior Indebtedness, no direct or indirect payment (excluding any payment or
distribution of Permitted Junior Securities) shall be made by or on behalf of
the Company of principal of or interest on the Securities, except from those
funds held in trust for the benefit of Holders of any Securities pursuant to
the procedures set forth in Article Eight hereof, to such Holders, during a
period (a “Payment Blockage Period”) commencing on
the date of receipt of such notice by the Trustee and ending 179 days
thereafter.

Notwithstanding anything herein or in the Securities
to the contrary, (x) in no event shall a Payment Blockage Period extend beyond
179 days from the date the Payment Blockage Notice in respect thereof was
given, (y) there shall be a period of at least 181 consecutive days in each
360-day period when no Payment Blockage Period is in effect and (z) not more
than one Payment Blockage Period may be commenced with respect to the
Securities during any period of 360 consecutive days.  No event of default that existed or was
continuing on the date of commencement of any Payment Blockage Period with
respect to the Designated Senior Indebtedness initiating such Payment Blockage
Period may be, or be made, the basis for the commencement of any other Payment
Blockage Period by the holder or holders of such Designated Senior Indebtedness
or the trustee or agent acting on behalf of such Designated Senior
Indebtedness, whether or not within a period of 360 consecutive days, unless
such event of default has been cured or waived for a period of not less than 90
consecutive days.

(b)           In the event that,
notwithstanding the foregoing, any payment shall be received by the Trustee or
any Holder when such payment is prohibited by Section 12.02(a), such payment
shall be held in trust for the benefit of, and shall be paid over or delivered
to, the holders of Senior Indebtedness (pro rata to such holders on the basis
of the respective amounts of Senior Indebtedness held by such holders) or their
respective representatives, or to the trustee or trustees under any indenture
pursuant to which any of such Senior Indebtedness may have been issued, as
their respective interests may appear, but only to the extent that, upon notice
from the Trustee to the holders of Senior Indebtedness that such prohibited
payment has been made, the holders of the Senior Indebtedness (or their
representative or representatives or a trustee) notify the Trustee in writing
of the amounts then due and owing on the Senior Indebtedness, if any, and only
the amounts specified in such notice to the Trustee shall be paid to the
holders of Senior Indebtedness.

Section
12.03                     Payment
Over of Proceeds upon Dissolution, etc.

(a)           Upon any payment or
distribution of assets or securities of the Company of any kind or character,
whether in cash, property or securities (excluding any payment or distribution
of Permitted Junior Securities), upon any dissolution or winding up or
liquidation or reorganization of the Company, whether voluntary or involuntary
or in bankruptcy, insolvency, receivership or other proceedings, all Senior
Indebtedness shall first be paid in full in cash before the Holders of the
Securities or the Trustee on behalf of such Holders shall be entitled to
receive any payment by the Company of the principal of or interest on the
Securities, or any payment by

 43
 

the Company to acquire any of the Securities for cash,
property or securities, or any distribution with respect to the Securities of
any cash, property or securities (excluding any payment or distribution of
Permitted Junior Securities).  Before any
payment may be made by, or on behalf of, the Company of the principal of or
interest on the Securities upon any such dissolution or winding up or
liquidation or reorganization, any payment or distribution of assets or
securities of the Company of any kind or character, whether in cash, property
or securities (excluding any payment or distribution of Permitted Junior
Securities), to which the Holders of the Securities or the Trustee on their
behalf would be entitled, but for the subordination provisions of this Indenture,
shall be made by the Company or by any receiver, trustee in bankruptcy,
liquidation trustee, agent or other Person making such payment or distribution,
directly to the holders of the Senior Indebtedness (pro rata to such holders on
the basis of the respective amounts of Senior Indebtedness held by such
holders) or their representatives or to the trustee or trustees or agent or
agents under any agreement or indenture pursuant to which any of such Senior
Indebtedness may have been issued, as their respective interests may appear, to
the extent necessary to pay all such Senior Indebtedness in full in cash after
giving effect to any prior or concurrent payment, distribution or provision
therefor to or for the holders of such Senior Indebtedness.

(b)           In the event that,
notwithstanding the foregoing provision prohibiting such payment or
distribution, any payment or distribution of assets or securities of the
Company of any kind or character, whether in cash, property or securities
(excluding any payment or distribution of Permitted Junior Securities), shall
be received by the Trustee or any Holder of Securities at a time when such
payment or distribution is prohibited by Section 12.03(a) and before all
obligations in respect of Senior Indebtedness are paid in full in cash, or
payment provided for, such payment or distribution shall be received and held
in trust for the benefit of, and shall be paid over or delivered to, the
holders of Senior Indebtedness (pro rata to such holders on the basis of the
respective amounts of Senior Indebtedness held by such holders) or their
respective representatives, or to the trustee or trustees or agent or agents
under any indenture pursuant to which any of such Senior Indebtedness may have
been issued, as their respective interests may appear, for application to the
payment of Senior Indebtedness remaining unpaid until all such Senior
Indebtedness has been paid in full in cash after giving effect to any prior or
concurrent payment, distribution or provision therefor to or for the holders of
such Senior Indebtedness.

The consolidation of the Company with, or the merger
of the Company with or into, another corporation or the liquidation or
dissolution of the Company following the conveyance or transfer of its property
as an entirety, or substantially as an entirety, to another corporation upon
the terms and conditions provided in Article Five (or any replacement
provisions as contemplated by Article Five) shall not be deemed a dissolution,
winding up, liquidation or reorganization for the purposes of this Section
12.03 if such other corporation shall, as a part of such consolidation, merger,
conveyance or transfer, comply with the conditions stated in Article Five (or
any replacement provisions as contemplated by Article Five).

Section
12.04                     Subrogation.

Upon the payment in full of all Senior Indebtedness,
or provision for payment, the Holders of the Securities shall be subrogated to
the rights of the holders of Senior Indebtedness to receive payments or
distributions of cash, property or securities of the Company made on such

 44

Senior Indebtedness until the principal of and
interest on the Securities shall be paid in full in cash; and, for the purposes
of such subrogation, no payments or distributions to the holders of the Senior
Indebtedness of any cash, property or securities to which the Holders of the
Securities or the Trustee on their behalf would be entitled except for the
provisions of this Article Twelve, and no payment over pursuant to the
provisions of this Article Twelve to the holders of Senior Indebtedness by
Holders of the Securities or the Trustee on their behalf shall, as between the
Company, its creditors other than holders of Senior Indebtedness, and the
Holders of the Securities, be deemed to be a payment by the Company to or on
account of the Senior Indebtedness. It is understood that the provisions of
this Article Twelve are and are intended solely for the purpose of defining the
relative rights of the Holders of the Securities, on the one hand, and the
holders of the Senior Indebtedness, on the other hand.

If any payment or distribution to which the Holders of
the Securities would otherwise have been entitled but for the provisions of
this Article Twelve shall have been applied, pursuant to the provisions of this
Article Twelve, to the payment of all amounts payable under Senior
Indebtedness, then and in such case, the Holders of the Securities shall be
entitled to receive from the holders of such Senior Indebtedness any payments
or distributions received by such holders of Senior Indebtedness in excess of
the amount required to make payment in full, or provision for payment, of such
Senior Indebtedness.

Section
12.05                     Obligations
of Company Unconditional.

Nothing contained in this Article Twelve or elsewhere
in this Indenture or in the Securities is intended to or shall impair, as among
the Company and the Holders of the Securities, the obligation of the Company,
which is absolute and unconditional, to pay to the Holders of the Securities
the principal of and interest on the Securities as and when the same shall become
due and payable in accordance with their terms, or is intended to or shall
affect the relative rights of the Holders of the Securities and creditors of
the Company other than the holders of the Senior Indebtedness, nor shall
anything herein or therein prevent the Holder of any Security or the Trustee on
their behalf from exercising all remedies otherwise permitted by applicable law
upon default under this Indenture, subject to the rights, if any, under this
Article Twelve of the holders of the Senior Indebtedness in respect of cash,
property or securities of the Company received upon the exercise of any such
remedy.  Without limiting the generality
of the foregoing, nothing contained in this Article Twelve shall restrict the
right of the Trustee or the Holders of Securities to take any action to declare
the Securities to be due and payable prior to their stated maturity pursuant to
Section 6.01 or to pursue any rights or remedies hereunder; provided, however,
that all Senior Indebtedness then due and payable shall first be paid in full
before the Holders of the Securities or the Trustee are entitled to receive any
direct or indirect payment from the Company of principal of or interest on the
Securities.

Section
12.06                     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 pursuant to the
provisions of this Article Twelve.  The
Trustee shall not be charged with knowledge of the existence of any event of
default with respect to any Senior Indebtedness or of any other facts which
would prohibit the making of any payment to or by the Trustee unless

 45
 

and until the Trustee shall have received notice in
writing at its corporate trust office to that effect signed by an Officer of
the Company, or by a holder of Senior Indebtedness or trustee or agent
therefor; and prior to the receipt of any such written notice, the Trustee
shall, subject to Article Seven, be entitled to assume that no such facts
exist; provided that if the Trustee shall not have received the notice provided
for in this Section 12.06 at least two Business Days prior to the date upon
which by the terms of this Indenture any moneys shall become payable for any
purpose (including, without limitation, the payment of the principal of or
interest on any Security), then, regardless of anything herein to the contrary,
the Trustee shall have full power and authority to receive any moneys from the
Company and to apply the same to the purpose for which they were received, and
shall not be affected by any notice to the contrary which may be received by it
on or after such prior date.  Nothing
contained in this Section 12.06 shall limit the right of the holders of Senior
Indebtedness to recover payments as contemplated by Section 12.03.  The Trustee shall be entitled to rely on the
delivery to it of a written notice by a Person representing himself or itself
to be a holder of any Senior Indebtedness (or a trustee on behalf of, or other
representative of, such holder) to establish that such notice has been given by
a holder of such Senior Indebtedness or a trustee or representative on behalf
of any such holder.

In the event that the Trustee determines in good faith
that any evidence is required with respect to the right of any Person as a
holder of Senior Indebtedness to participate in any payment or distribution
pursuant to this Article Twelve, the Trustee may request such Person to furnish
evidence to the reasonable satisfaction of the Trustee as to the amount of
Senior Indebtedness 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 Twelve, 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
12.07                     Reliance
on Judicial Order or Certificate of Liquidating Agent.

Upon any payment or distribution of assets or
securities referred to in this Article Twelve, the Trustee and the Holders of
the Securities shall be entitled to rely upon any order or decree made by any
court of competent jurisdiction in which bankruptcy, dissolution, winding-up,
liquidation or reorganization proceedings are pending, or upon a certificate of
the receiver, trustee in bankruptcy, liquidating trustee, agent or other person
making such payment or distribution, delivered to the Trustee or to the Holders
of the Securities for the purpose of ascertaining the persons entitled to
participate in such distribution, the holders of the Senior Indebtedness 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 Twelve.

Section
12.08                     Trustee’s
Relation to Senior Indebtedness.

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

 46
 

With respect to the holders of Senior Indebtedness,
the Trustee undertakes to perform or to observe only such of its covenants and
obligations as are specifically set forth in this Article Twelve, and no
implied covenants or obligations with respect to the holders of Senior
Indebtedness shall be read into this Indenture against the Trustee.  The Trustee shall not be deemed to owe any
fiduciary duty to the holders of Senior Indebtedness (except as provided in
Section 12.03(b)).  The Trustee shall not
be liable to any such holders if the Trustee shall in good faith mistakenly pay
over or distribute to Holders of Securities or to the Company or to any other
person cash, property or securities to which any holders of Senior Indebtedness
shall be entitled by virtue of this Article Twelve or otherwise.

Section
12.09                     Subordination
Rights Not Impaired by Acts or Omissions of the Company or Holders of Senior
Indebtedness.

No right of any present or future holders of any
Senior Indebtedness to enforce subordination as provided herein 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 of this
Indenture, regardless of any knowledge thereof which any such holder may have
or otherwise be charged with.  The
provisions of this Article Twelve are intended to be for the benefit of, and
shall be enforceable directly by, the holders of Senior Indebtedness.

Section
12.10                     Securityholders
Authorize Trustee To Effectuate Subordination of Securities.

Each Holder of Securities by his acceptance of such
Securities authorizes and expressly directs the Trustee on his behalf to take
such action as may be necessary or appropriate to effectuate the subordination
provided in this Article Twelve, and appoints the Trustee his attorney-in-fact
for such purposes, including, in the event of any dissolution, winding-up,
liquidation or reorganization of the Company (whether in bankruptcy,
insolvency, receivership, reorganization or similar proceedings or upon an
assignment for the benefit of creditors or otherwise) tending towards
liquidation of the business and assets of the Company, the filing of a claim
for the unpaid balance of its or his Securities in the form required in those
proceedings.

Section
12.11                     This
Article Not to Prevent Events of Default.

The failure to make a payment on account of principal
of or interest on the Securities by reason of any provision of this Article
Twelve shall not be construed as preventing the occurrence of an Event of
Default specified in clause (1) or (2) of Section 6.01.

Section
12.12                     Trustee’s
Compensation Not Prejudiced.

Nothing in this Article Twelve shall apply to amounts
due to the Trustee pursuant to other sections in this Indenture.

Section
12.13                     No
Waiver of Subordination Provisions.

Without in any way limiting the generality of Section
12.09, the holders of Senior Indebtedness 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

 47
 

Securities and without impairing or releasing the
subordination provided in this Article Twelve or the obligations hereunder of
the Holders of the Securities to the holders of Senior Indebtedness, do any one
or more of the following: a) change the manner, place or terms of payment or
extend the time of payment of, or renew or alter, Senior Indebtedness or any
instrument evidencing the same or any agreement under which Senior Indebtedness
is outstanding or secured; (b) sell, exchange, release or otherwise deal with
any property pledged, mortgaged or otherwise securing Senior Indebtedness; (c)
release any Person liable in any manner for the collection of Senior
Indebtedness; and (d) exercise or refrain from exercising any rights against
the Company and any other Person.

Section
12.14                     Certain
Payments May Be Paid Prior to Dissolution.

All money and United States government obligations
properly deposited in trust with the Trustee pursuant to and in accordance with
Article Eight shall be for the sole benefit of the Holders and shall not be
subject to this Article Twelve.

Nothing contained in this Article Twelve or elsewhere
in this Indenture shall prevent (i) the Company, except under the conditions
described in Section 12.02, from making payments of principal of and interest
on the Securities, or from depositing with the Trustee any moneys for such payments
or from effecting a termination of the Company’s and the Guarantors’
obligations under the Securities and this Indenture as provided in Article
Eight, or (ii) the application by the Trustee of any moneys deposited with it
for the purpose of making such payments of principal of on and interest on the
Securities to the holders entitled thereto unless at least two Business Days
prior to the date upon which such payment becomes due and payable, the Trustee
shall have received the written notice provided for in Section 12.02(b) or in
Section 12.06.  The Company shall give
prompt written notice to the Trustee of any dissolution, winding up,
liquidation or reorganization of the Company.

ARTICLE THIRTEEN

Subordination of
Guarantee

Section
13.01                     Guarantee
Obligations Subordinated to Guarantor Senior Indebtedness.

Each Guarantor covenants and agrees, and the Trustee
and each Holder of the Securities by his acceptance thereof likewise covenant
and agree, that the Guarantee of such Guarantor shall be issued subject to the
provisions of this Article Thirteen; and each person holding any Security,
whether upon original issue or upon transfer, assignment or exchange thereof,
accepts and agrees that all payments of the principal of and interest on the
Securities pursuant to the Guarantee made by or on behalf of any Guarantor
shall, to the extent and in the manner set forth in this Article Thirteen, be
subordinated and junior in right of payment to the prior payment in full in
cash of all amounts payable under Guarantor Senior Indebtedness of such
Guarantor.

Section
13.02                     No
Payment on Guarantees in Certain Circumstances.

(a)           No direct or indirect
payment (excluding any payment or distribution of Permitted Junior Securities)
by or on behalf of any Guarantor of principal of or interest on the

 48
 

Securities, except from those funds held in trust for
the benefit of Holders of any Securities pursuant to the procedures set forth
in Article Eight hereof, pursuant to such Guarantor’s Guarantee, whether
pursuant to the terms of the Securities, upon acceleration or otherwise, shall
be made if, at the time of such payment, there exists a default in the payment
of all or any portion of the obligations on any Guarantor Senior Indebtedness
of such Guarantor, whether at maturity, on account of mandatory redemption or
prepayment, acceleration or otherwise, and such default shall not have been
cured or waived or the benefits of this sentence waived by or on behalf of the
holders of such Guarantor Senior Indebtedness. In addition, during the continuance
of any non-payment event of default with respect to any Designated Guarantor
Senior Indebtedness pursuant to which the maturity thereof may be immediately
accelerated, and upon receipt by the Trustee of written notice (the “Guarantor Payment Blockage Notice”) from the holder or
holders of such Designated Guarantor Senior Indebtedness or the trustee or
agent acting on behalf of such Designated Guarantor Senior Indebtedness, then,
unless and until such event of default has been cured or waived or has ceased
to exist or such Designated Guarantor Senior Indebtedness has been discharged
or paid in full in cash or the benefits of these provisions have been waived by
the holders of such Designated Guarantor Senior Indebtedness, no direct or
indirect payment (excluding any payment or distribution of Permitted Junior
Securities) shall be made by or on behalf of such Guarantor of principal or
interest on the Securities, except from those funds held in trust for the
benefit of the Holders of any Securities pursuant to the procedures set forth
in Article Eight hereof to such Holders, during a period (a “Guarantor Blockage Period”) commencing on the date of
receipt of such notice by the Trustee and ending 179 days thereafter.

Notwithstanding anything herein or in the Securities
to the contrary, (x) in no event shall a Guarantor Blockage Period extend
beyond 179 days from the date the Guarantor Payment Blockage Notice in respect
thereof was given, (y) there shall be a period of at least 181 consecutive days
in each 360-day period when no Guarantor Blockage Period is in effect and (z)
not more than one Guarantor Blockage Period may be commenced with respect to
any Guarantor during any period of 360 consecutive days.  No event of default that existed or was
continuing on the date of commencement of any other Guarantor Blockage Period
with respect to the Designated Guarantor Senior Indebtedness initiating such
Guarantor Blockage Period may be, or be made, the basis for the commencement of
any other Guarantor Blockage Period by the holder or holders of such Designated
Guarantor Senior Indebtedness or the trustee or agent acting on behalf of such
Designated Guarantor Senior Indebtedness, whether or not within a period of 360
consecutive days, unless such event of default has been cured or waived for a
period of not less than 90 consecutive days.

(b)           In the event that,
notwithstanding the foregoing, any payment shall be received by the Trustee or
any Holder when such payment is prohibited by Section 13.02(a), such payment
shall be held in trust for the benefit of, and shall be paid over or delivered
to, the holders of such Guarantor Senior Indebtedness (pro rata to such holders
on the basis of the respective amounts of Senior Indebtedness held by such
holders) or their respective representatives, or to the trustee or trustees
under any indenture pursuant to which any of such Guarantor Senior Indebtedness
may have been issued, as their respective interests may appear, but only to the
extent that, upon notice from the Trustee to the holders of such Guarantor
Senior Indebtedness that such prohibited payment has been made, the holders of
such Guarantor Senior Indebtedness (or their representative or representatives
or a trustee) notify the Trustee in writing of the amounts then due and owing
on such Guarantor Senior Indebtedness, if any, and only the

 49
 

amounts specified in such notice to the Trustee shall
be paid to the holders of such Guarantor Senior Indebtedness.

Section
13.03                     Payment
Over of Proceeds upon Dissolution, etc.

(a)           Upon any payment or
distribution of assets or securities of any Guarantor of any kind or character,
whether in cash, property or securities (excluding any payment or distribution
of Permitted Junior Securities), upon any dissolution or winding-up or
liquidation or reorganization of such Guarantor, whether voluntary or
involuntary or in bankruptcy, insolvency, receivership or other proceedings,
all Guarantor Senior Indebtedness of such Guarantor shall first be paid in full
before the Holders of the Securities or the Trustee on behalf of such Holders
shall be entitled to receive any payment by such Guarantor of the principal of
or interest on the Securities pursuant to such Guarantor’s Guarantee, or any
payment to acquire any of the Securities for cash, property or securities, or
any distribution with respect to the Securities of any cash, property or
securities (excluding any payment or distribution of Permitted Junior
Securities).  Before any payment may be
made by, or on behalf of, any Guarantor of the principal of or interest on the
Securities upon any such dissolution or winding-up or liquidation or
reorganization, any payment or distribution of assets or securities of such
Guarantor of any kind or character, whether in cash, property or securities
(excluding any payment or distribution of Permitted Junior Securities), to
which the Holders of the Securities or the Trustee on their behalf would be
entitled, but for the subordination provisions of this Indenture, shall be made
by such Guarantor or by any receiver, trustee in bankruptcy, liquidating
trustee, agent or other Person making such payment or distribution, directly to
the holders of the Guarantor Senior Indebtedness of such Guarantor (pro rata to
such holders on the basis of the respective amounts of such Guarantor Senior
Indebtedness held by such holders) or their representatives or to the trustee
or trustees or agent or agents under any agreement or indenture pursuant to
which any of such Guarantor Senior Indebtedness may have been issued, as their
respective interests may appear, to the extent necessary to pay all such
Guarantor Senior Indebtedness in full in cash after giving effect to any prior
or concurrent payment, distribution or provision therefor to or for the holders
of such Guarantor Senior Indebtedness.

(b)           In the event that,
notwithstanding the foregoing provision prohibiting such payment or
distribution, any payment or distribution of assets or securities of any
Guarantor of any kind or character, whether in cash, property or securities
(excluding any payment or distribution of Permitted Junior Securities), shall
be received by the Trustee or any Holder of Securities at a time when such
payment or distribution is prohibited by Section 13.03(a) and before all
obligations in respect of the Guarantor Senior Indebtedness of such Guarantor
are paid in full in cash, or payment provided for, such payment or distribution
shall be received and held in trust for the benefit of, and shall be paid over
or delivered to, the holders of such Guarantor Senior Indebtedness (pro rata to
such holders on the basis of the respective amounts of such Guarantor Senior
Indebtedness held by such holders) or their respective representatives, or to
the trustee or trustees or agent or agents under any indenture pursuant to which
any of such Guarantor Senior Indebtedness may have been issued, as their
respective interests may appear, for application to the payment of such
Guarantor Senior Indebtedness remaining unpaid until all such Guarantor Senior
Indebtedness has been paid in full in cash after giving effect to any prior or
concurrent payment, distribution or provision therefor to or for the holders of
such Guarantor Senior Indebtedness.

 50
 

The consolidation of any Guarantor with, or the merger
of any Guarantor with or into, another corporation or the liquidation or
dissolution of any Guarantor following the conveyance or transfer of its
property as an entirety, or substantially as an entirety, to another
corporation upon the terms and conditions provided in Article Five (or any replacement
provisions as contemplated by Article Five) shall not be deemed a dissolution,
winding-up, liquidation or reorganization for the purposes of this Section
13.03 if such other corporation shall, as a part of such consolidation, merger,
conveyance or transfer, comply with the conditions stated in Article Five (or
any replacement provisions as contemplated by Article Five).

Section
13.04                     Subrogation.

Upon the payment in full of all Guarantor Senior
Indebtedness of a Guarantor, or provision for payment, the Holders of the
Securities shall be subrogated to the rights of the holders of such Guarantor
Senior Indebtedness to receive payments or distributions of cash, property or
securities of such Guarantor made on such Guarantor Senior Indebtedness until
the principal of and interest on the Securities shall be paid in full in cash;
and, for the purposes of such subrogation, no payments or distributions to the
holders of such Guarantor Senior Indebtedness of any cash, property or
securities to which the Holders of the Securities or the Trustee on their
behalf would be entitled except for the provisions of this Article Thirteen,
and no payment over pursuant to the provisions of this Article Thirteen to the
holders of such Guarantor Senior Indebtedness by Holders of the Securities or
the Trustee on their behalf shall, as between such Guarantor, its creditors
other than holders of such Guarantor Senior Indebtedness, and the Holders of
the Securities, be deemed to be a payment by such Guarantor to or on account of
such Guarantor Senior Indebtedness. It is understood that the provisions of
this Article Thirteen are and are intended solely for the purpose of defining
the relative rights of the Holders of the Securities, on the one hand, and the
holders of Guarantor Senior Indebtedness of each Guarantor, on the other hand.

If any payment or distribution to which the Holders of
the Securities would otherwise have been entitled but for the provisions of
this Article Thirteen shall have been applied, pursuant to the provisions of
this Article Thirteen, to the payment of all amounts payable under Guarantor
Senior Indebtedness, then and in such case, the Holders of the Securities shall
be entitled to receive from the holders of such Guarantor Senior Indebtedness
any payments or distributions received by such holders of Guarantor Senior
Indebtedness in excess of the amount required to make payment in full, or
provision for payment, of such Guarantor Senior Indebtedness.

Section
13.05                     Obligations
of Guarantors Unconditional.

Nothing contained in this Article Thirteen or
elsewhere in this Indenture or in the Securities or the Guarantees is intended
to or shall impair, as among the Guarantors and the Holders of the Securities,
the obligation of each Guarantor, which is absolute and unconditional, to pay
to the Holders of the Securities the principal of and interest on the
Securities as and when the same shall become due and payable in accordance with
the terms of the Guarantee of such Guarantor, or is intended to or shall affect
the relative rights of the Holders of the Securities and creditors of any
Guarantor other than the holders of Guarantor Senior Indebtedness of such
Guarantor, nor shall anything herein or therein prevent the Holder of any
Security or the Trustee

 51
 

on their behalf from exercising all remedies otherwise
permitted by applicable law upon default under this Indenture, subject to the
rights, if any, under this Article Thirteen of the holders of Guarantor Senior
Indebtedness in respect of cash, property or securities of any Guarantor
received upon the exercise of any such remedy.

Without limiting the generality of the foregoing,
nothing contained in this Article Thirteen shall restrict the right of the
Trustee or the Holders of Securities to take any action to declare the
Securities to be due and payable prior to their stated maturity pursuant to
Section 6.01 or to pursue any rights or remedies hereunder; provided, however,
that all Guarantor Senior Indebtedness of any Guarantor then due and payable
shall first be paid in full before the Holders of the Securities or the Trustee
are entitled to receive any direct or indirect payment from such Guarantor of
principal of or interest on the Securities pursuant to such Guarantor’s
Guarantee.

Section
13.06                     Notice
to Trustee.

The Company and each Guarantor shall give prompt
written notice to the Trustee of any fact known to the Company or such
Guarantor which would prohibit the making of any payment to or by the Trustee
in respect of the Securities pursuant to the provisions of this Article
Thirteen.  The Trustee shall not be
charged with knowledge of the existence of any event of default with respect to
any Guarantor Senior Indebtedness or of any other facts which would prohibit
the making of any payment to or by the Trustee unless and until the Trustee
shall have received notice in writing at its corporate trust office to that
effect signed by an Officer of the Company or such Guarantor, or by a holder of
Guarantor Senior Indebtedness or trustee or agent therefor; and prior to the
receipt of any such written notice, the Trustee shall, subject to Article
Seven, be entitled to assume that no such facts exist; provided that if the
Trustee shall not have received the notice provided for in this Section 13.06
at least two Business Days prior to the date upon which by the terms of this
Indenture any moneys shall become payable for any purpose (including, without
limitation, the payment of the principal of or interest on any Security), then,
regardless of anything herein to the contrary, the Trustee shall have full
power and authority to receive any moneys from any Guarantor and to apply the
same to the purpose for which they were received, and shall not be affected by
any notice to the contrary which may be received by it on or after such prior
date.  Nothing contained in this Section
13.06 shall limit the right of the holders of Guarantor Senior Indebtedness to
recover payments as contemplated by Section 13.03.  The Trustee shall be entitled to rely on the
delivery to it of a written notice by a Person representing himself or itself
to be a holder of any Guarantor Senior Indebtedness (or a trustee on behalf of,
or other representative of, such holder) to establish that such notice has been
given by a holder of such Guarantor Senior Indebtedness or a trustee or
representative on behalf of any such holder.

In the event that the Trustee determines in good faith
that any evidence is required with respect to the right of any Person as a
holder of Guarantor Senior Indebtedness to participate in any payment or
distribution pursuant to this Article Thirteen, the Trustee may request such
Person to furnish evidence to the reasonable satisfaction of the Trustee as to
the amount of Guarantor Senior Indebtedness 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
Thirteen, and if such evidence is not furnished, the Trustee may

 52
 

defer any payment to such Person pending judicial
determination as to the right of such Person to receive such payment.

Section
13.07                     Reliance
on Judicial Order or Certificate of Liquidating Agent.

Upon any payment or distribution of assets or
securities of a Guarantor referred to in this Article Thirteen, the Trustee and
the Holders of the Securities shall be entitled to rely upon any order or
decree made by any court of competent jurisdiction in which bankruptcy,
dissolution, winding-up, liquidation or reorganization proceedings are pending,
or upon a certificate of the receiver, trustee in bankruptcy, liquidating
trustee, agent or other person making such payment or distribution, delivered
to the Trustee or to the Holders of the Securities for the purpose of
ascertaining the persons entitled to participate in such distribution, the
holders of Guarantor Senior Indebtedness of such Guarantor and other
indebtedness of such 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 Thirteen.

Section
13.08                     Trustee’s
Relation to Guarantor Senior Indebtedness.

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

With respect to the holders of Guarantor Senior
Indebtedness, the Trustee undertakes to perform or to observe only such of its
covenants and obligations as are specifically set forth in this Article
Thirteen, and no implied covenants or obligations with respect to the holders
of Guarantor Senior Indebtedness shall be read into this Indenture against the
Trustee.  The Trustee shall not be deemed
to owe any fiduciary duty to the holders of Guarantor Senior Indebtedness
(except as provided in Section 13.03(b)). 
The Trustee shall not be liable to any such holders if the Trustee shall
in good faith mistakenly pay over or distribute to Holders of Securities or to
the Company or to any other person cash, property or securities to which any
holders of Guarantor Senior Indebtedness shall be entitled by virtue of this
Article Thirteen or otherwise.

Section
13.09                     Subordination
Rights Not Impaired by Acts or Omissions of the Guarantors or Holders of
Guarantor Senior Indebtedness.

No right of any present or future holders of any
Guarantor Senior Indebtedness to enforce subordination as provided herein shall
at any time in any way be prejudiced or impaired by any act or failure to act
on the part of any Guarantor or by any act or failure to act, in good faith, by
any such holder, or by any noncompliance by any Guarantor with the terms of
this Indenture, regardless of any knowledge thereof which any such holder may
have or otherwise be charged with.  The
provisions of this Article Thirteen are intended to be for the benefit of, and
shall be enforceable directly by, the holders of Guarantor Senior Indebtedness.

 53
 

Section
13.10                     Securityholders
Authorize Trustee to Effectuate Subordination of Guarantee.

Each Holder of Securities by his acceptance of such
Securities authorizes and expressly directs the Trustee on his behalf to take
such action as may be necessary or appropriate to effectuate the subordination
provided in this Article Thirteen, and appoints the Trustee his
attorney-in-fact for such purposes, including, in the event of any dissolution,
winding-up, liquidation or reorganization of any Guarantor (whether in
bankruptcy, insolvency, receivership, reorganization or similar proceedings or
upon an assignment for the benefit of creditors or otherwise) tending towards
liquidation of the business and assets of such Guarantor, the filing of a claim
for the unpaid balance of its or his Securities in the form required in those
proceedings.

Section
13.11                     This
Article Not to Prevent Events of Default.

The failure to make a payment on account of principal
of or interest on the Securities by reason of any provision of this Article
Thirteen shall not be construed as preventing the occurrence of an Event of
Default specified in clauses (1) or (2) of Section 6.01.

Section
13.12                     Trustee’s
Compensation Not Prejudiced.

Nothing in this Article Thirteen shall apply to
amounts due to the Trustee pursuant to other Sections in this Indenture.

Section
13.13                     No
Waiver of Guarantee Subordination Provisions.

Without in any way limiting the generality of Section
13.09, the holders of Guarantor Senior Indebtedness 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
Thirteen or the obligations hereunder of the Holders of the Securities to the
holders of Guarantor Senior Indebtedness, do any one or more of the following:

(a)           change the manner,
place or terms of payment or extend the time of payment of, or renew or alter,
Guarantor Senior Indebtedness or any instrument evidencing the same or any
agreement under which Guarantor Senior Indebtedness is outstanding or secured;

(b)           sell, exchange, release
or otherwise deal with any property pledged, mortgaged or otherwise securing
Guarantor Senior Indebtedness;

(c)           release any Person
liable in any manner for the collection of Guarantor Senior Indebtedness; and

(d)           exercise or refrain
from exercising any rights against any Guarantor and any other Person.

Section
13.14                     Certain
Payments May Be Paid Prior to Dissolution.

Nothing contained in this Article Thirteen or
elsewhere in this Indenture shall prevent (i) a Guarantor, except under the
conditions described in Section 13.02, from making payments of principal of and
interest on the Securities, or from depositing with the Trustee any moneys for
such payments, or (ii) the application by the Trustee of any moneys deposited
with it

 54
 

for the purpose of making such payments of principal
of and interest on the Securities, to the holders entitled thereto unless at
least two Business Days prior to the date upon which such payment becomes due
and payable, the Trustee shall have received the written notice provided for in
Section 13.02(b) or in Section 13.06.  A
Guarantor shall give prompt written notice to the Trustee of any dissolution,
winding up, liquidation or reorganization of such Guarantor.

 55

SIGNATURES

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

	
  Dated:

  	
   

  	
   

  	
  NOVA BIOSOURCE FUELS, INC.:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Dated:

  	
   

  	
   

  	
  [LIST OF GUARANTORS]:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Dated:

  	
   

  	
   

  	
                              ,
  as Trustee

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
   

  

 

(SEAL)

 56
 

EXHIBIT
A

No.                                                                                                                                                                                                                                                                                                                                                                                      CUSIP
No.:               

[Title of
Security]

NOVA BIOSOURCE FUELS, INC.,
a Nevada corporation promises to pay to or registered assigns the principal sum
of
                                          
[Dollars](1) on

[Title of Security]

Interest Payment, Dates:  and

Record Dates: and

Authenticated:                                                                       Dated:

	
  

  	
  NOVA BIOSOURCE FUELS, INC.:

  (Seal)

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  

 

                                                                 ,
as Trustee, certifies that this is one of the Securities referred to in the
within mentioned Indenture.

	
  By

  	
  :

  	
   

  	
   

  
	
   

  	
   

  	
  Authorized Signatory

  

 

(1) Or other currency. 
Insert corresponding provisions on reverse side of Security in respect
of foreign currency denomination or interest payment requirement.

 57
 

NOVA
BIOSOURCE FUELS, INC.

[Title of Security]

1.                                        Interest.

NOVA BIOSOURCE FUELS,
INC. (the “Company”), a Nevada corporation,
promises to pay interest on the principal amount of this Security at the rate
per annum shown above.  The Company will
pay interest semiannually on                                     
and                             
of each year until the principal is paid or made available for payment.  Interest on the Securities will accrue from
the most recent date to which interest has been paid or duly provided for or,
if no interest has been paid, from                               ,
20    , provided that, if there is no existing default in
the payment of interest, and if this Security is authenticated between a record
date referred to on the face hereof and the next succeeding interest payment
date, interest shall accrue from such interest payment date.  Interest will be computed on the basis of a
360-day year of twelve 30-day months.

2.                                        Method
of Payment.

The Company will pay interest on the Securities
(except defaulted interest, if any, which will be paid on such special payment
date to Holders of record on such special record date as may be fixed by the
Company) to the persons who are registered Holders of Securities at the close
of business on the [Insert record dates]. 
Holders must surrender Securities to a Paying Agent to collect principal
payments.  The Company will pay principal
and interest in money of the United States that at the time of payment is legal
tender for payment of public and private debts.

3.                                        Paying
Agent and Registrar.

Initially,                                               
(the “Trustee”) will act as Paying Agent and
Registrar.  The Company may change or
appoint any Paying Agent, Registrar or co-Registrar without notice.  The Company or any of its Subsidiaries may
act as Paying Agent, Registrar or co-Registrar.

4.                                        Indenture.

The Company issued the Securities under an Indenture
dated as of                           ,
         (“Indenture”)
among the Company, the Guarantors and the Trustee.  The terms of the Securities and the
Guarantees include those stated in the Indenture (including those terms set
forth in the Authorizing Resolution or supplemental indenture pertaining to the
Securities of the Series of which this Security is a part) and those made part
of the Indenture by reference to the Trust Indenture Act of 1939 (“TIA”) as in effect on the date of the Indenture.  The Securities and the Guarantees are subject
to all such terms, and Securityholders are referred to the Indenture and the
Act for a statement of them.

The Company will furnish to any Securityholder upon
written request and without charge a copy of the Indenture and the applicable
Authorizing Resolution or supplemental indenture.  Requests may be made to: Nova Biosource
Fuels, Inc., 2777 Allen Parkway, Suite 860, Houston, Texas 77019, Attention:
President.

 58
 

5.                                        Optional
Redemption.(1)

The Company may redeem the Securities at any time on
or after                            ,
         , in whole or in part, at
the following redemption prices(expressed as a percentage of their principal
amount) together with interest accrued and unpaid to the date fixed for
redemption:

If redeemed during the Twelve-Month period commencing
on                           
and ending on                           
in each of the following years Percentage [Insert provisions relating to
redemption at option of Holders, if any]

Notice of redemption will be mailed at least 30 days
but not more than 60 days before the redemption date to each Holder of
Securities to be redeemed at his registered address. Securities in
denominations larger than $1,000 may be redeemed in part.  On and after the redemption date interest
ceases to accrue on Securities or portions of them called for redemption,
provided that if the Company shall default in the payment of such Security at
the redemption price together with accrued interest, interest shall continue to
accrue at the rate borne by the Securities.

6.                                        Mandatory
Redemption.(2)

The Company shall redeem % of the aggregate principal
amount of Securities originally issued under the Indenture on each of, which
redemptions are calculated to retire % of the Securities originally issued
prior to maturity.  Such redemptions
shall be made at a redemption price equal to 100% of the principal amount
thereof, together with accrued interest to the redemption date.  The Company may reduce the principal amount
of Securities to be redeemed pursuant to this Paragraph 6 by the principal
amount of any Securities previously redeemed, retired or acquired, otherwise
than pursuant to this Paragraph 6, that the Company has delivered to the
Trustee for cancellation and not previously credited to the Company’s
obligations under this Paragraph 6.

Each such Security shall be received and credited for
such purpose by the Trustee at the redemption price and the amount of such
mandatory redemption payment shall be reduced accordingly.

7.                                        Denominations,
Transfer, Exchange.

The Securities are in registered form without coupons
in denominations of $1,000 and integral multiples of $1,000.  A Holder may transferor exchange Securities
by presentation of such Securities to the Registrar or a co-Registrar with a
request to register the transfer or to exchange them for an equal principal
amount of Securities of other denominations. 
The Registrar may require a Holder, among other things, to furnish
appropriate endorsements and transfer documents and to pay any taxes and fees required
by law or permitted by the Indenture. 
The Registrar need not transfer or exchange any Security selected for
redemption, except the unredeemed part thereof if the Security is redeemed in
part, or transfer or exchange any Securities for a period of 15 days before a
selection of Securities to be redeemed.

(1) If
applicable [Insert provisions relating to redemption at option of Holders, if
any]

(2) If applicable. 
Insert different or additional denomination and multiples.

 59
 

8.                                        Persons
Deemed Owners.

The registered Holder of this Security shall be
treated as the owner of it for all purposes.

9.                                        Unclaimed
Money.

If money for the payment of principal or interest
remains unclaimed for two years, the Trustee or Paying Agent will pay the money
back to the Company at its request. 
After that, Holders entitled to the money must look to the Company for
payment unless an abandoned property law designates another person.

10.                                 Amendment,
Supplement, Waiver.

Subject to certain exceptions, the Indenture or the
Securities may be amended or supplemented with the consent of the Holders of at
least a majority in principal amount of the outstanding Securities of each
Series affected by the amendment, and any past default or compliance with any
provision relating to any Series of the Securities may be waived in a
particular instance with the consent of the Holders of a majority in principal
amount of the outstanding Securities of such Series.(3) Without the consent of
any Securityholder, the Company and the Trustee may amend or supplement the
Indenture or the Securities to cure any ambiguity, defect or inconsistency, to
provide for uncertificated Securities in addition to or in place of
certificated Securities, to create a Series and establish its terms, to remove
a Guarantor in respect of any Series which, in accordance with the terms of the
Indenture, ceases to be liable in respect of its Guarantee, or to make any
other change, provided such action does not adversely affect the rights of any
Securityholder.

11.                                 Successor
Corporation.

When a successor corporation assumes all the
obligations of its predecessor under the Securities and the Indenture, the
predecessor corporation will be released from those obligations.

12.                                 Trustee
Dealings With Company.

                                                                         ,
the Trustee under the Indenture, in its individual or any other capacity, may
make loans to, accept deposits from, and perform services for the Company or
its affiliates, and may otherwise deal with the Company or its affiliates, as
if it were not Trustee.

13.                                 No
Recourse Against Others.

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

(3) If different terms apply, insert a brief summary
thereof.

 60
 

Securityholder by accepting a Security waives and
releases all such liability.  The waiver
and release are part of the consideration for the issue of the Securities.

14.                                 Discharge
of Indenture.

The Indenture contains certain provisions pertaining
to defeasance, which provisions shall for all purposes have the same effect as
if set forth herein.

15.                                 Authentication.

This Security shall not be valid until the Trustee
signs the certificate of authentication on the other side of this Security.

16.                                 Abbreviations.

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

 61
 

ASSIGNMENT
FORM

	
  If you the Holder want to
  assign this Security, fill in the form below:

  
	
   

  
	
  I or we assign
  and transfer this Security to

  
	
   

  
	
   

  
	
  (Insert assignee’s social security or tax ID number)

  
	
   

  
	
   

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

  
	
   

  
	
  and irrevocably appoint

  
	
   

  
	
   

  
	
  agent to transfer this Security on the books of the Company.  

  
	
   

  
	
  The agent may substitute another to act for him.

  
	
   

  
	
   

  
	
   

  
	
   

  
	
  Date:

  	
   

  	
   

  	
  Your signature:

  	
   

  	
   

  
	
   

  	
  (Sign exactly as your name appears on the

  other side of this Security)

  
	
   

  
	
  Signature Guarantee:

  	
   

  	
   

  
								

 

 62
 

[FORM OF NOTATION
ON SECURITY RELATING TO GUARANTEE]

GUARANTEE

[List of Guarantors] (the “Guarantors”)
have unconditionally guaranteed, jointly and severally (such guarantee by each
Guarantor being referred to herein as the “Guarantee”) (i)
the due and punctual payment of the principal of and interest on the
Securities, whether at maturity, by acceleration or otherwise, the due and
punctual payment of interest on the overdue principal and interest, if any, on
the Securities, to the extent lawful, and the due and punctual performance of
all other obligations of the Company to the Holders or the Trustee all in
accordance with the terms set forth in Article Nine of the Indenture and (ii)
in case of any extension of time of payment or renewal of any Securities or any
of such other obligations, that the same will be promptly paid in full when due
or performed in accordance with the terms of the extension or renewal, whether
at stated maturity, by acceleration or otherwise.

No past, present or future stockholder, officer, director,
employee or incorporator, as such, of any of the Guarantors shall have any
liability under the Guarantee by reason of such person’s status as stockholder,
officer, director, employee or incorporator. 
Each holder of a Security by accepting a Security waives and releases
all such liability.  This waiver and
release are part of the consideration for the issuance of the Guarantees.  Each holder of a Security by accepting a Security
agrees that any Guarantor named below shall have no further liability with
respect to its Guarantee if such Guarantor otherwise ceases to be liable in
respect of its Guarantee in accordance with the terms of the Indenture.

The Guarantee shall not be valid or obligatory for any
purpose until the certificate of authentication on the Securities upon which
the Guarantee is noted shall have been executed by the Trustee under the
Indenture by the manual signature of one of its authorized officers.

	
  

  	
  [LIST OF GUARANTORS]:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  

 

 63Exhibit 4.4

NOVA
BIOSOURCE FUELS, INC. AND THE GUARANTORS NAMED HEREIN

Subordinated Debt Securities 

Indenture

Dated as of                       ,
        , 

                             , Trustee

CROSS-REFERENCE
TABLE

This
Cross-Reference Table is not a part of the Indenture.

	
  TIA Section

  	
   

  	
  Indenture Section

  
	
   

  	
   

  	
   

  
	
  310(a)(1)

  	
   

  	
  7.10

  
	
  (a)(2)

  	
   

  	
  7.10

  
	
  (a)(3)

  	
   

  	
  N.A.

  
	
  (a)(4)

  	
   

  	
  N.A.

  
	
  (b)

  	
   

  	
  7.08; 7.10; 11.02

  
	
  311(a)

  	
   

  	
  7.11

  
	
  (b)

  	
   

  	
  7.11

  
	
  (c)

  	
   

  	
  N.A.

  
	
  312(a)

  	
   

  	
  2.05

  
	
  (b)

  	
   

  	
  11.03

  
	
  (c)

  	
   

  	
  11.03

  
	
  313(a)

  	
   

  	
  7.06

  
	
  (b)(1)

  	
   

  	
  N.A.

  
	
  (b)(2)

  	
   

  	
  7.06

  
	
  (c)

  	
   

  	
  11.02

  
	
  (d)

  	
   

  	
  7.06

  
	
  314(a)

  	
   

  	
  4.02; 11.02

  
	
  (b)

  	
   

  	
  N.A.

  
	
  (c)(1)

  	
   

  	
  11.04

  
	
  (c)(2)

  	
   

  	
  11.04

  
	
  (c)(3)

  	
   

  	
  N.A.

  
	
  (d)

  	
   

  	
  N.A.

  
	
  (e)

  	
   

  	
  11.05

  
	
  315(a)

  	
   

  	
  7.01(b)

  
	
  (b)

  	
   

  	
  7.05; 11.02

  
	
  (c)

  	
   

  	
  7.01(a)

  
	
  (d)

  	
   

  	
  7.01(c)

  
	
  (e)

  	
   

  	
  6.11

  

 

 1
 

 

	
  316(a)(last sentence)

  	
   

  	
  11.06

  
	
  (a)(1)(A)

  	
   

  	
  6.05

  
	
  (a)(1)(B)

  	
   

  	
  6.04

  
	
  (a)(2)

  	
   

  	
  N.A.

  
	
  (b)

  	
   

  	
  6.07

  
	
  317(a)(1)

  	
   

  	
  6.08

  
	
  (a)(2)

  	
   

  	
  6.09

  
	
  (b)

  	
   

  	
  2.04

  
	
  318(a)

  	
   

  	
  11.01

  

 

N.A. means Not Applicable.

 2

TABLE OF CONTENTS

	
  

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  ARTICLE ONE

  	
  DEFINITIONS AND INCORPORATION BY REFERENCE

  	
  1

  
	
  Section 1.01

  	
  Definitions

  	
  1

  
	
  Section 1.02

  	
  Other Definitions

  	
  9

  
	
  Section 1.03

  	
  Incorporation by Reference of Trust Indenture Act

  	
  9

  
	
  Section 1.04

  	
  Rules of Construction

  	
  9

  
	
  ARTICLE TWO

  	
  THE SECURITIES

  	
  10

  
	
  Section 2.01

  	
  Form and Dating

  	
  10

  
	
  Section 2.02

  	
  Execution and Authentication

  	
  11

  
	
  Section 2.03

  	
  Registrar and Paying Agent

  	
  12

  
	
  Section 2.04

  	
  Paying Agent to Hold Money in Trust

  	
  12

  
	
  Section 2.05

  	
  Securityholder Lists

  	
  12

  
	
  Section 2.06

  	
  Transfer and Exchange

  	
  12

  
	
  Section 2.07

  	
  Replacement Securities

  	
  13

  
	
  Section 2.08

  	
  Outstanding Securities

  	
  13

  
	
  Section 2.09

  	
  Temporary Securities

  	
  13

  
	
  Section 2.10

  	
  Cancellation

  	
  14

  
	
  Section 2.11

  	
  Defaulted Interest

  	
  14

  
	
  Section 2.12

  	
  Treasury Securities

  	
  14

  
	
  Section 2.13

  	
  CUSIP Numbers

  	
  14

  
	
  Section 2.14

  	
  Deposit of Moneys

  	
  15

  
	
  Section 2.15

  	
  Book-Entry Provisions for Global Security

  	
  15

  
	
  ARTICLE THREE

  	
  REDEMPTION

  	
  16

  
	
  Section 3.01

  	
  Notices to Trustee

  	
  16

  
	
  Section 3.02

  	
  Selection of Securities to be Redeemed

  	
  16

  
	
  Section 3.03

  	
  Notice of Redemption

  	
  17

  
	
  Section 3.04

  	
  Effect of Notice of Redemption

  	
  17

  
	
  Section 3.05

  	
  Deposit of Redemption Price

  	
  17

  
	
  Section 3.06

  	
  Securities Redeemed in Part

  	
  17

  
	
  ARTICLE FOUR

  	
  COVENANTS

  	
  18

  
	
  Section 4.01

  	
  Payment of Securities

  	
  18

  

 

 i
 

 

	
  

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  Section 4.02

  	
  Maintenance of Office or Agency

  	
  18

  
	
  Section 4.03

  	
  Compliance Certificate

  	
  18

  
	
  Section 4.04

  	
  Payment of Taxes; Maintenance of Corporate
  Existence; Maintenance of Properties

  	
  18

  
	
  Section 4.05

  	
  Additional Guarantors

  	
  19

  
	
  ARTICLE FIVE

  	
  SUCCESSOR CORPORATION

  	
  19

  
	
  Section 5.01

  	
  When Company May Merge, etc

  	
  19

  
	
  ARTICLE SIX

  	
  DEFAULTS AND REMEDIES

  	
  20

  
	
  Section 6.01

  	
  Events of Default

  	
  20

  
	
  Section 6.02

  	
  Acceleration

  	
  22

  
	
  Section 6.03

  	
  Other Remedies

  	
  22

  
	
  Section 6.04

  	
  Waiver of Existing Defaults

  	
  22

  
	
  Section 6.05

  	
  Control by Majority

  	
  23

  
	
  Section 6.06

  	
  Limitation on Suits

  	
  23

  
	
  Section 6.07

  	
  Rights of Holders to Receive Payment

  	
  23

  
	
  Section 6.08

  	
  Collection Suit by Trustee

  	
  23

  
	
  Section 6.09

  	
  Trustee May File Proofs of Claim

  	
  24

  
	
  Section 6.10

  	
  Priorities

  	
  24

  
	
  Section 6.11

  	
  Undertaking for Costs

  	
  24

  
	
  ARTICLE SEVEN

  	
  TRUSTEE

  	
  25

  
	
  Section 7.01

  	
  Duties of Trustee

  	
  25

  
	
  Section 7.02

  	
  Rights of Trustee

  	
  26

  
	
  Section 7.03

  	
  Individual Rights of Trustee

  	
  26

  
	
  Section 7.04

  	
  Trustee’s Disclaimer

  	
  27

  
	
  Section 7.05

  	
  Notice of Defaults

  	
  27

  
	
  Section 7.06

  	
  Reports by Trustee to Holders

  	
  27

  
	
  Section 7.07

  	
  Compensation and Indemnity

  	
  27

  
	
  Section 7.08

  	
  Replacement of Trustee

  	
  28

  
	
  Section 7.09

  	
  Successor Trustee by Merger, etc

  	
  28

  
	
  Section 7.10

  	
  Eligibility; Disqualification

  	
  29

  

 

 ii
 

 

	
  

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  Section 7.11

  	
  Preferential Collection of Claims Against Company

  	
  29

  
	
  ARTICLE EIGHT

  	
  DISCHARGE OF INDENTURE

  	
  29

  
	
  Section 8.01

  	
  Defeasance upon Deposit of Moneys or U.S. Government
  Obligations

  	
  29

  
	
  Section 8.02

  	
  Survival of the Company’s Obligations

  	
  32

  
	
  Section 8.03

  	
  Application of Trust Money

  	
  32

  
	
  Section 8.04

  	
  Repayment to the Company

  	
  32

  
	
  Section 8.05

  	
  Reinstatement

  	
  32

  
	
  ARTICLE NINE

  	
  GUARANTEES

  	
  33

  
	
  Section 9.01

  	
  Unconditional Guarantees

  	
  33

  
	
  Section 9.02

  	
  Severability

  	
  34

  
	
  Section 9.03

  	
  Release of a Guarantor

  	
  34

  
	
  Section 9.04

  	
  Limitation of a Subsidiary Guarantor’s Liability

  	
  34

  
	
  Section 9.05

  	
  Guarantors May Consolidate, etc., on Certain Terms

  	
  35

  
	
  Section 9.06

  	
  Contribution

  	
  35

  
	
  Section 9.07

  	
  Waiver of Subrogation

  	
  35

  
	
  Section 9.08

  	
  Execution of Guarantee

  	
  36

  
	
  ARTICLE TEN

  	
  AMENDMENTS, SUPPLEMENTS AND WAIVERS

  	
  36

  
	
  Section 10.01

  	
  Without Consent of Holders

  	
  36

  
	
  Section 10.02

  	
  With Consent of Holders

  	
  37

  
	
  Section 10.03

  	
  Compliance with Trust Indenture Act

  	
  38

  
	
  Section 10.04

  	
  Revocation and Effect of Consents

  	
  38

  
	
  Section 10.05

  	
  Notation on or Exchange of Securities

  	
  38

  
	
  Section 10.06

  	
  Trustee to Sign Amendments, etc

  	
  39

  
	
  ARTICLE ELEVEN

  	
  MISCELLANEOUS

  	
  39

  
	
  Section 11.01

  	
  Trust Indenture Act Controls

  	
  39

  
	
  Section 11.02

  	
  Notices

  	
  39

  
	
  Section 11.03

  	
  Communications by Holders with Other Holders

  	
  40

  
	
  Section 11.04

  	
  Certificate and Opinion as to Conditions Precedent

  	
  40

  
	
  Section 11.05

  	
  Statements Required in Certificate or Opinion

  	
  40

  

 

 iii
 

 

	
  

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  Section 11.06

  	
  Rules by Trustee and Agents

  	
  41

  
	
  Section 11.07

  	
  Legal Holidays

  	
  41

  
	
  Section 11.08

  	
  Governing Law

  	
  41

  
	
  Section 11.09

  	
  No Adverse Interpretation of Other Agreements

  	
  41

  
	
  Section 11.10

  	
  No Recourse Against Others

  	
  41

  
	
  Section 11.11

  	
  Successors and Assigns

  	
  41

  
	
  Section 11.12

  	
  Duplicate Originals

  	
  41

  
	
  Section 11.13

  	
  Severability

  	
  41

  
	
  ARTICLE TWELVE

  	
  SUBORDINATION OF SECURITIES

  	
  42

  
	
  Section 12.01

  	
  Securities Subordinated to Senior Indebtedness

  	
  42

  
	
  Section 12.02

  	
  No Payment on Securities in Certain Circumstances

  	
  42

  
	
  Section 12.03

  	
  Payment Over of Proceeds upon Dissolution, etc

  	
  43

  
	
  Section 12.04

  	
  Subrogation

  	
  44

  
	
  Section 12.05

  	
  Obligations of Company Unconditional

  	
  45

  
	
  Section 12.06

  	
  Notice to Trustee

  	
  45

  
	
  Section 12.07

  	
  Reliance on Judicial Order or Certificate of
  Liquidating Agent

  	
  46

  
	
  Section 12.08

  	
  Trustee’s Relation to Senior Indebtedness

  	
  46

  
	
  Section 12.09

  	
  Subordination Rights Not Impaired by Acts or
  Omissions of the Company or Holders of Senior Indebtedness

  	
  46

  
	
  Section 12.10

  	
  Securityholders Authorize Trustee To Effectuate
  Subordination of Securities

  	
  47

  
	
  Section 12.11

  	
  This Article Not to Prevent Events of Default

  	
  47

  
	
  Section 12.12

  	
  Trustee’s Compensation Not Prejudiced

  	
  47

  
	
  Section 12.13

  	
  No Waiver of Subordination Provisions

  	
  47

  
	
  Section 12.14

  	
  Certain Payments May Be Paid Prior to Dissolution

  	
  47

  
	
  ARTICLE THIRTEEN

  	
  SUBORDINATION OF GUARANTEE

  	
  48

  
	
  Section 13.01

  	
  Guarantee Obligations Subordinated to Guarantor
  Senior Indebtedness

  	
  48

  
	
  Section 13.02

  	
  No Payment on Guarantees in Certain Circumstances

  	
  48

  
	
  Section 13.03

  	
  Payment Over of Proceeds upon Dissolution, etc

  	
  49

  
	
  Section 13.04

  	
  Subrogation

  	
  50

  

 

 iv
 

 

	
  

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  Section 13.05

  	
  Obligations of Guarantors Unconditional

  	
  51

  
	
  Section 13.06

  	
  Notice to Trustee

  	
  52

  
	
  Section 13.07

  	
  Reliance on Judicial Order or Certificate of
  Liquidating Agent

  	
  52

  
	
  Section 13.08

  	
  Trustee’s Relation to Guarantor Senior Indebtedness

  	
  53

  
	
  Section 13.09

  	
  Subordination Rights Not Impaired by Acts or
  Omissions of the Guarantors or Holders of Guarantor Senior Indebtedness

  	
  53

  
	
  Section 13.10

  	
  Securityholders Authorize Trustee to Effectuate
  Subordination of Guarantee

  	
  53

  
	
  Section 13.11

  	
  This Article Not to Prevent Events of Default

  	
  53

  
	
  Section 13.12

  	
  Trustee’s Compensation Not Prejudiced

  	
  54

  
	
  Section 13.13

  	
  No Waiver of Guarantee Subordination Provisions

  	
  54

  
	
  Section 13.14

  	
  Certain Payments May Be Paid Prior to Dissolution

  	
  54

  
	
  SIGNATURES

  	
   

  	
  55

  
	
  This Table of Contents is not a part of the
  Indenture.

  	
   

  

 

 v

INDENTURE dated as of                     ,
        , by and among NOVA BIOSOURCE
FUELS, INC., a Nevada corporation (the “Company”), each
of the Guarantors (as defined in Section 1.01 below) and                         ,
a                               
(the “Trustee”).

Each party agrees as follows for the benefit of the
other party and for the equal and ratable benefit of the Holders of the Company’s
debt securities issued under this Indenture (the “Securities”):

ARTICLE ONE

Definitions and Incorporation by Reference

Section
1.01                            Definitions.

“Affiliate”
means, when used with reference to a specified person, any Person directly or
indirectly controlling or controlled by or under direct or indirect common
control with the Person specified.

“Agent” means
any Registrar, Paying Agent or co-Registrar or agent for service of notices and
demands.

“Attributable Debt”
means, with respect to any Capitalized Lease Obligations, the capitalized
amount thereof determined in accordance with GAAP.

“Authorizing Resolution”
means a resolution adopted by the Board of Directors or by an Officer or
committee of Officers pursuant to Board delegation authorizing a Series of
Securities.

“Bankruptcy Law”
means title 11 of the United States Code, as amended, or any similar federal or
state law for the relief of debtors.

“Board of Directors”
means the Board of Directors of the Company or any authorized committee
thereof.

“Capital Stock”
means, with respect to any Person, any and all shares, interests,
participations or other equivalents (however designated) of or in such Person’s
capital stock or other equity interests, and options, rights or warrants to
purchase such capital stock or other equity interests, whether now outstanding
or issued after the applicable Issue Date, including, without limitation, all
Disqualified Stock and Preferred Stock.

“Capitalized Lease
Obligations” of any Person means the obligations of such Person to
pay rent or other amounts under a lease that is required to be capitalized for
financial reporting purposes in accordance with GAAP, and the amount of such
obligations will be the capitalized amount thereof determined in accordance
with GAAP.

“Change of Control
Provisions” has the meaning set forth in the definition of “Disqualified Stock” below.

 1
 

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

“Currency Agreement”
of any Person means any foreign exchange contract, currency swap agreement or
other similar agreement or arrangement designed to protect such Person or any
of its Subsidiaries against fluctuations in currency values.

“Default” means
any event, act or condition that is, or after notice or the passage of time or
both would be, an Event of Default.

“Designated Guarantor
Senior Indebtedness” means, with respect to any Guarantor, any
Guarantor Senior Indebtedness of such Guarantor which, at the time of
determination, has an aggregate principal amount outstanding of at least $              
if the instrument governing such Guarantor Senior Indebtedness expressly states
that such Indebtedness is “Guarantor Senior Indebtedness” for purposes of this
Indenture and a Board Resolution setting forth such designation by the Company
has been filed with the Trustee.

“Designated Senior
Indebtedness” means any Senior Indebtedness which, at the time of
determination, has an aggregate principal amount outstanding of at least $              
if the instrument governing such Senior Indebtedness expressly states that such
Indebtedness is “Designated Senior Indebtedness” for purposes of this Indenture
and a Board Resolution setting forth such designation by the Company has been
filed with the Trustee.

“Disqualified Stock”
means any Capital Stock that, by its terms (or by the terms of any security
into which it is convertible or for which it is exchangeable), or upon the
happening of any event, (i) matures or is mandatorily redeemable, pursuant to a
sinking fund obligation or otherwise, or is redeemable at the option of the
holder thereof, in whole or in part, on or prior to the final maturity date of
the Securities of the applicable Series or (ii) is convertible into or
exchangeable or exercisable for (whether at the option of the issuer or the
holder thereof) (a) debt securities or (b) any Capital Stock referred to in (i)
above, in each case, at any time prior to the final maturity date of the
Securities of the applicable Series; provided, however, that any Capital Stock
that would not constitute Disqualified Stock but for provisions thereof giving
holders thereof (or the holders of any security into or for which such Capital
Stock is convertible, exchangeable or exercisable) the right to require the
Company to repurchase or redeem such Capital Stock upon the occurrence of a
change in control occurring prior to the final maturity date of the Securities
of the applicable Series shall not constitute Disqualified Stock if the change
in control provisions applicable to such Capital Stock are no more favorable to
such holders than any provisions described in the Authorizing Resolution or
supplemental indenture pertaining to the Securities of the applicable Series (“Change of Control Provisions”) and such Capital Stock
specifically provides that the Company will not repurchase or redeem any such
Capital Stock pursuant to such provisions prior to the Company’s repurchase of
the Securities of the applicable Series to the extent required pursuant to any
such Change of Control Provisions.

“GAAP” means
generally accepted accounting principles set forth in the statements and
pronouncements of the Financial Accounting Standards Board or in such other
statements by such other entity as may be approved by a significant segment of
the accounting profession of the United States, as in effect on the date of
this Indenture.

 2
 

“Guarantee”
means the guarantee of Securities of any applicable Series by each Guarantor
under this Indenture.

“Guarantor Senior
Indebtedness” means, with respect to any Guarantor, at any date, (a)
all Indebtedness of such Guarantor for borrowed money, including principal,
premium, if any, and interest (including Post-Petition Interest) on such
Indebtedness, unless the instrument under which such Indebtedness of such
Guarantor for money borrowed is incurred expressly provides that such Indebtedness
for money borrowed is not senior or superior in right of payment to such
Guarantor’s Guarantee of the Securities of the applicable Series, and all
renewals, extensions, modifications, amendments or refinancings thereof; (b)
all obligations of such Guarantor under Interest Protection Agreements, and (c)
all obligations of such Guarantor under Currency Agreements.  Notwithstanding the foregoing, Guarantor
Senior Indebtedness shall not include (a) to the extent that it may constitute
Indebtedness, any obligation for federal, state, local or other taxes; (b) any
Indebtedness between such Guarantor and any Subsidiary of such Guarantor or any
Unrestricted Subsidiary of the Company; (c) to the extent that it may
constitute Indebtedness, any obligation in respect of any trade payable
incurred for the purchase of goods or materials, or for services obtained, in
the ordinary course of business; (d) that portion of any Indebtedness that is
incurred in violation of this Indenture; (e) Indebtedness evidenced by such
Guarantor’s Guarantee of the Securities; (f) Indebtedness of such Guarantor
that is expressly subordinate or junior in right of payment to any other
Indebtedness of such Guarantor; (g) to the extent that it may constitute
Indebtedness, any obligation owing under leases (other than Capitalized Lease
Obligations); and (h) any obligation that by operation of law is subordinated
to any general unsecured obligations of such Guarantor.

“Guarantors”
means (i) initially on the execution of this Indenture, each of: Biosource
America, Inc., a Texas corporation; Nova Holding Trade Group LLC, a Delaware
limited liability company; Nova Biofuels Trade Group LLC, a Delaware limited
liability company; Nova Holding Seneca LLC, a Delaware limited liability
company; Nova Biofuels Seneca LLC, a Delaware limited liability company; Nova
Holding Oklahoma LLC, a Delaware limited liability company; and Nova Biofuels
Oklahoma LLC, a Delaware limited liability company; and (ii) each of the
Company’s Subsidiaries which becomes a guarantor of Securities pursuant to the
provisions of this Indenture.  An
Unrestricted Subsidiary may become a Guarantor if it is so designated by
resolution of the Board of Directors of the Company.

“Holder” or “Securityholder” means the person in whose name a Security is
registered on the Registrar’s books.

“Indebtedness”
of any Person means, without duplication, (i) any liability of such Person (a)
for borrowed money or under any reimbursement obligation relating to a letter
of credit or other similar instruments (other than standby letters of credit
issued for the benefit of or surety, performance, completion or payment bonds,
earnest money notes or similar purpose undertakings or indemnifications issued
by, such Person in the ordinary course of business), (b) evidenced by a bond,
note, debenture or similar instrument (including a purchase money obligation)
given in connection with the acquisition of any businesses, properties or
assets of any kind or with services incurred in connection with capital expenditures
(other than any obligation to pay a contingent purchase price which, as of the
date of incurrence thereof is not required to be re corded as a liability in
accordance with GAAP), or (c) in respect of Capitalized Lease

 3
 

Obligations (to the extent of the Attributable Debt in
respect thereof), (ii) any Indebtedness of others that such Person has
guaranteed to the extent of the guarantee, (iii) to the extent not otherwise
included, the obligations of such Person under Currency Agreements or Interest
Protection Agreements to the extent recorded as liabilities not constituting
Interest Incurred, net of amounts recorded as assets in respect of such
agreements, in accordance with GAAP, and (iv) all Indebtedness of others
secured by a Lien on any asset of such Person, whether or not such Indebtedness
is assumed by such Person; provided, that Indebtedness shall not include
accounts payable, liabilities to trade creditors of such Person or other
accrued expenses arising in the ordinary course of business. The amount of
Indebtedness of any Person at any date shall be (a) the outstanding balance at
such date of all unconditional obligations as described above, net of any
unamortized discount to be accounted for as Interest Expense, in accordance
with GAAP, (b) the maximum liability of such Person for any contingent
obligations under clause (ii) above at such date, net of, any unamortized
discount to be accounted for as Interest Expense in accordance with GAAP and
(c) in the case of clause (iv) above, the lesser of (1) the fair market value
of any asset subject to a Lien securing the Indebtedness of others on the date
that the Lien attaches and (2) the amount of the Indebtedness secured.

“Indenture”
means this Indenture as amended or supplemented from time to time, including
pursuant to any Authorizing Resolution or supplemental indenture pertaining to
any Series.

“Insolvency or Liquidation
Proceeding” means, with respect to any Person, any liquidation,
dissolution or winding up of such Person, or any bankruptcy, reorganization,
insolvency, receivership or similar proceeding with respect to such Person,
whether voluntary or involuntary.

“Interest Expense”
of any Person for any period means, without duplication, the aggregate amount
of (i) interest which, in conformity with GAAP, would be set opposite the
caption “interest expense” or any like caption on an income statement for such
Person (including, without limitation, imputed interest included in Capitalized
Lease Obligations, all commissions, discounts and other fees and charges owned
with respect to letters of credit and bankers’ acceptance financing, the net
costs (but reduced by net gains) associated with Currency Agreements and
Interest Protection Agreements, amortization of other financing fees and
expenses, the interest portion of any deferred payment obligation, amortization
of discount or premium, if any, and all other noncash interest expense other
than interest and other charges amortized to cost of sales), and (ii) all
interest actually paid by the Company or a Restricted Subsidiary under any
guarantee of Indebtedness (including, without limitation, a guarantee of
principal, interest or any combination thereof) of any Person other than the
Company or any Restricted Subsidiary during such period; provided, that
Interest Expense shall exclude any expense associated with the complete
write-off of financing fees and expenses in connection with the repayment of
any Indebtedness.

“Interest Protection
Agreement” of any Person means any interest rate swap agreement, interest
rate collar agreement, option or futures contract or other similar agreement or
arrangement designed to protect such Person or any of its Subsidiaries against
fluctuations in interest rates with respect to Indebtedness permitted to be
incurred under this Indenture.  “Investments” of any Person means (i) all investments by such
Person in any other Person in the

 4
 

form of loans, advances or capital contributions, (ii)
all guarantees of Indebtedness or other obligations of any other Person by such
person, (iii) all purchases (or other acquisitions for consideration) by such
Person of Indebtedness, Capital Stock or other securities of any other Person
and (iv) all other items that would be classified as investments in any other
Person (including, without limitation, purchases of assets outside the ordinary
course of business) on a balance sheet of such Person prepared in accordance
with GAAP.

“Issue Date”
means, with respect to any Series of Securities, the date on which the
Securities of such Series are originally issued under this Indenture.

“Lien” means,
with respect to any Property, any mortgage, lien, pledge, charge, security
interest or encumbrance of any kind in respect of such Property.  For purposes of this definition, a Person
shall be deemed to own, subject to a Lien, any Property which it has acquired
or holds subject to the interest of a vendor or lessor under any conditional
sale agreement, capital lease or other title retention agreement relating to
such Property.

“Non-Recourse Indebtedness”
with respect to any Person means Indebtedness of such Person for which (i) the
sole legal recourse for collection of principal and interest on such
Indebtedness is against the specific property identified in the instruments
evidencing or securing such Indebtedness and such property was acquired with
the proceeds of such Indebtedness or such Indebtedness was incurred within 90
days after the acquisition of such property and (ii) no other assets of such
Person may be realized upon in collection of principal or interest on such
Indebtedness. Indebtedness which is otherwise Non-Recourse Indebtedness will
not lose its character as Non-Recourse Indebtedness because there is recourse
to the borrower, any guarantor or any other Person for (i) environmental
warranties and indemnities, or (ii) indemnities for and liabilities arising
from fraud, misrepresentation, misapplication or non-payment of rents, profits,
insurance and condemnation proceeds and other sums actually received by the
borrower from secured assets to be paid to the lender, waste and mechanics’
liens.

“Officer” means
the Chairman of the Board, the Chief Executive Officer, the President, the
Chief Operating Officer, any Vice President, the Treasurer, the Controller or
the Secretary of the Company.

“Officers’ Certificate”
means a certificate signed by two Officers or by an Officer and an Assistant
Treasurer or an Assistant Secretary of the Company.

“Opinion of Counsel”
means a written opinion from legal counsel who is reasonably acceptable to the
Trustee.  The counsel may be an employee
of or counsel to the Company or the Trustee.

“Permitted Junior
Securities” means any securities of the Company or any other Person
that are (i) equity securities or (ii) subordinated in right of payment to all
Senior Indebtedness or Guarantor Senior Indebtedness, as the case may be, that
may at the time be outstanding, to substantially the same extent as, or to a
greater extent than, the Securities are subordinated as provided in this
Indenture, in any event pursuant to a court order so providing and as to which
(a) the rate of interest on such securities shall not exceed the effective rate
of interest on the Securities on the date of this Indenture, (b) such
securities shall not be entitled to

 5
 

the benefits of covenants or defaults materially more
beneficial to the holders of such securities than those in effect with respect
to the Securities on the date of this Indenture and (c) such securities shall
not provide for amortization (including sinking fund and mandatory prepayment
provisions) commencing prior to the date six months following the final
scheduled maturity date of the Senior Indebtedness or Guarantor Senior
Indebtedness, as the case may be (as modified by the plan of reorganization or
readjustment pursuant to which such securities are issued).

“Person” means
any individual, corporation, partnership, limited liability company, joint
venture, incorporated or unincorporated association, joint stock company,
trust, unincorporated organization or government or any agency or political
subdivision thereof.

“Post-Petition Interest”
means, with respect to any Senior Indebtedness or Guarantor Senior Indebtedness
of any Person, all interest accrued or accruing on such Indebtedness after the
commencement of any Insolvency or Liquidation Proceeding against such Person in
accordance with and at the contract rate (including, without limitation, any
rate applicable upon default) specified in the agreement or instrument
creating, evidencing or governing such Indebtedness, whether or not, pursuant
to applicable law or otherwise, the claim for such interest is allowed as a
claim in such Insolvency or Liquidation Proceeding.

“Preferred Stock”
of any Person means all Capital Stock of such Person which has a preference in
liquidation or with respect to the payment of dividends.

“principal” of a
debt security means the principal of the security plus, when appropriate, the
premium, if any, on the security.

“Property” of
any Person means all types of real, personal, tangible, intangible or mixed property
owned by such Person, whether or not included in the most recent consolidated
balance sheet of such Person and its Subsidiaries under GAAP.

“Restricted Subsidiary”
means any Subsidiary of the Company which is not an Unrestricted Subsidiary.

“SEC” means the
Securities and Exchange Commission or any successor agency performing the
duties now assigned to it under the TIA.

“Securities”
means any Securities that are issued under this Indenture.

“Senior Indebtedness”
means, at any date, (a) all Indebtedness of the Company for borrowed money,
including principal, premium, if any, and interest (including Post-Petition
Interest) on such Indebtedness, unless the instrument under which such
Indebtedness of the Company for money borrowed is incurred expressly provides
that such Indebtedness for money borrowed is not senior or superior in right of
payment to the Securities of the applicable Series, and all renewals,
extensions, modifications, amendments or refinancings thereof; (b) all
obligations of the Company under Interest Protection Agreements, and (c) all
obligations of the Company under Currency Agreements.  Notwithstanding the foregoing, Senior
Indebtedness shall not include (a) to the extent that it may constitute Indebtedness,
any obligation for federal, state, local or other taxes; (b) any Indebtedness
between the Company and any Subsidiary of the Company; (c) to the extent that
it may constitute Indebtedness, any obligation in respect of any

 6
 

trade payable incurred for the purchase of goods or
materials, or for services obtained, in the ordinary course of business; (d)
that portion of any Indebtedness that is incurred in violation of this
Indenture; (e) Indebtedness evidenced by the Securities; (f) Indebtedness of
the Company that is expressly subordinate or junior in right of payment to any
other Indebtedness of the Company; (g) to the extent that it may constitute
Indebtedness, any obligation owing under leases (other than Capitalized Lease
Obligations); and (h) any obligation that by operation of law is subordinate to
any general unsecured obligations of the Company.

“Series” means a
series of Securities established under this Indenture.

“Significant Subsidiary”
means any Subsidiary of the Company which would constitute a “significant
subsidiary” as defined in Rule 1-02 of Regulation S-X under the Securities Act
and the Exchange Act.

“Subsidiary” of
any Person means any corporation or other entity of which a majority of the
Capital Stock having ordinary voting power to elect a majority of the Board of
Directors or other persons performing similar functions is at the time directly
or indirectly owned or controlled by such Person.

“TIA” means the
Trust Indenture Act of 1939, as in effect from time to time.

“Trustee” means
the party named as such in this Indenture until a successor replaces it
pursuant to this Indenture and thereafter means the successor serving
hereunder.

“Trust Officer”
means the Chairman of the Board, the President, any Vice President or any other
officer or assistant officer of the Trustee assigned by the Trustee to
administer its corporate trust matters.

“United States”
means the United States of America.

“U.S. government
obligations” means securities which are (i) direct obligations of
the United States for the payment of which its full faith and credit is pledged
or (ii) obligations of a person controlled or supervised by and acting as an
agency or instrumentality of the United States the payment of which is
unconditionally guaranteed as a full faith and credit obligation by the United States,
which, in either case are not callable or redeemable at the option of the
issuer thereof, and shall also include a depositary receipt issued by a bank or
trust company as custodian with respect to any such U.S. government obligations
or a specific payment of interest on or principal of any such U.S. government
obligation held by such custodian for the account of the holder of a depositary
receipt; 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 interest on or principal
of the U.S. government obligation evidenced by such depositary receipt.

“Unrestricted Subsidiary”
means any Subsidiary of the Company so designated by a resolution adopted by
the Board of Directors of the Company as provided below; provided that (a) the
holders of Indebtedness thereof do not have direct or indirect recourse against
the Company or any Restricted Subsidiary, and neither the Company nor any
Restricted Subsidiary

 7
 

otherwise has liability, for any payment obligations
in respect of such Indebtedness (including any undertaking, agreement or
instrument evidencing such Indebtedness), except, (i) in each case, to the
extent that the amount thereof constitutes a “restricted payment” permitted to
be made under any provisions set forth limiting the making or paying of a “restricted
payment” under the Authorizing Resolution or supplemental indenture pertaining
to an applicable Series (“Restricted Payment Provisions”), (ii) in the case of
Non-Recourse Indebtedness, to the extent such recourse or liability is for the
matters discussed in the last sentence of the definition of “Non-Recourse
Indebtedness,” or (iii) to the extent such Indebtedness is a guarantee by such
Subsidiary of Indebtedness of the Company or a Restricted Subsidiary and (b) no
holder of any Indebtedness of such Subsidiary shall have a right to declare a
default on such Indebtedness or cause the payment thereof to be accelerated or
payable prior to its stated maturity as a result of a default on any
Indebtedness of the Company or any Restricted Subsidiary.  Subject to the foregoing, the Board of Directors
of the Company may designate any Subsidiary to be an Unrestricted Subsidiary;
provided, however, that (i) the net amount (the “Designation
Amount”) then outstanding of all previous Investments by the Company
and the Restricted Subsidiaries in such Subsidiary will be deemed to be a “restricted
payment” pursuant to any Restricted Payment Provisions at the time of such
designation and will reduce the amount available for other restricted payments
under any Restricted Payment Provisions, to the extent provided therein, (ii)
the Company must be permitted under any Restricted Payment Provisions to make
the “restricted payment” deemed to have been made pursuant to clause (i), and
(iii) after giving effect to such designation, no Default or Event of Default
shall have occurred and be continuing. 
The Board of Directors of the Company may also redesignate an
Unrestricted Subsidiary to be a Restricted Subsidiary; provided, however, that
(i) the Indebtedness of such Unrestricted Subsidiary as of the date of such redesignation
could then be incurred under any provisions set forth limiting the incurrence
of Indebtedness under the Authorizing Resolution or supplemental indenture
pertaining to an applicable Series (“Debt Limitation Provisions”),
(ii) immediately after giving effect to such redesignation and the incurrence
of any such additional Indebtedness, the Company and the Restricted
Subsidiaries could incur $1.00 of additional Indebtedness under any debt
incurrence covenant ratio set forth in any Debt Limitation Provisions and (iii)
the Liens of such Unrestricted Subsidiary as of the date of such redesignation
could then be incurred in accordance with any provisions set forth limiting the
creation or existence of Liens under the Authorizing Resolution or supplemental
indenture pertaining to an applicable Series (“Lien
Limitation Provisions”).  Any
such designation or redesignation by the Board of Directors of the Company will
be evidenced to the Trustee by the filing with the Trustee of a certified copy
of the resolution of the Board of Directors of the Company giving effect to
such designation or redesignation and an Officers’ Certificate certifying that
such designation or redesignation complied with the foregoing conditions and
setting forth the underlying calculations of such Officers’ Certificate.  The designation of any Person as an
Unrestricted Subsidiary shall be deemed to include a designation of all
Subsidiaries of such Person as Unrestricted Subsidiaries; provided, however,
that the ownership of the general partnership interest or a similar member’s
interest in a limited liability company by an Unrestricted Subsidiary shall not
cause a Subsidiary of the Company of which more than 95% of the equity interest
is held by the Company or one or more Restricted Subsidiaries to be deemed an
Unrestricted Subsidiary.

 8
 

Section
1.02                            Other
Definitions.

	
  Term

  	
   

  	
  Defined in

  
	
  “Agent
  Members”

  	
   

  	
  2.15

  
	
   

  	
   

  	
   

  
	
  “Business
  Day”

  	
   

  	
  11.07

  
	
   

  	
   

  	
   

  
	
  “Custodian”

  	
   

  	
  6.01

  
	
   

  	
   

  	
   

  
	
  “Depository”

  	
   

  	
  2.15

  
	
   

  	
   

  	
   

  
	
  “Event
  of Default”

  	
   

  	
  6.01

  
	
   

  	
   

  	
   

  
	
  “Legal
  Holiday”

  	
   

  	
  11.07

  
	
   

  	
   

  	
   

  
	
  “Paying
  Agent”

  	
   

  	
  2.03

  
	
   

  	
   

  	
   

  
	
  “Registrar”

  	
   

  	
  2.03

  

 

Section
1.03                            Incorporation
by Reference of Trust Indenture Act.

Whenever this Indenture refers to a provision of the
TIA, the provision is incorporated by reference in and made a part of this
Indenture.  The following TIA terms used
in this Indenture have the following meanings:

“Commission”
means the SEC.

“indenture securities”
means the Securities.

“indenture security holder”
means a Securityholder.

“indenture to be qualified”
means this Indenture.

“indenture trustee”
or “institutional trustee” means the
Trustee.

“obligor” on the
indenture securities means the Company, each of the Guarantors, or any other
obligor on the Securities of a Series or any Guarantees thereof.

All other TIA terms used in this Indenture that are
defined by the TIA, defined by TIA reference to another statute or defined by
SEC rule have the meanings so assigned to them.

Section
1.04                            Rules
of Construction.

Unless the context otherwise requires:

(1)           a term has the meaning
assigned to it;

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

(3)           “or” is not exclusive;

 9
 

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

(5)           provisions apply to
successive events and transactions.

ARTICLE TWO

The Securities

Section
2.01                            Form
and Dating.

The aggregate principal amount of Securities that may
be issued under this Indenture is unlimited. 
The Securities may be issued from time to time in one or more
Series.  Each Series shall be created by
an Authorizing Resolution or a supplemental indenture that establishes the
terms of the Series, which may include the following:

(1)           the title of the
Series;

(2)           the aggregate principal
amount (or any limit on the aggregate principal amount) of the Series and, if
any Securities of a Series are to be issued at a discount from their face
amount, the method of computing the accretion of such discount;

(3)           the interest rate or
method of calculation of the interest rate;

(4)           the date from which
interest will accrue;

(5)           the record dates for
interest payable on Securities of the Series;

(6)           the dates when, places
where and manner in which principal and interest are payable;

(7)           the Registrar and
Paying Agent;

(8)           the terms of any
mandatory (including any sinking fund requirements) or optional redemption by
the Company;

(9)           the terms of any
redemption at the option of Holders;

(10)         the denominations in
which Securities are issuable;

(11)         whether Securities will
be issued in registered or bearer form and the terms of any such forms of
Securities;

(12)         whether any Securities
will be represented by a global Security and the terms of any such global
Security;

(13)         the currency or
currencies (including any composite currency) in which principal or interest or
both may be paid;

 10
 

(14)         if payments of principal
or interest may be made in a currency other than that in which Securities are
denominated, the manner for determining such payments;

(15)         provisions for electronic
issuance of Securities or issuance of Securities in uncertificated form;

(16)         any Events of Default,
covenants and/or defined terms in addition to or in lieu of those set forth in
this Indenture;

(17)         whether and upon what
terms Securities may be defeased if different from the provisions set forth in
this Indenture;

(18)         the form of the
Securities, which, unless the Authorizing Resolution or supplemental indenture
otherwise provides, shall be in the form of “Exhibit A” hereto;

(19)         any terms that may be
required by or advisable under applicable law;

(20)         the percentage of the
principal amount of the Securities which is payable if the maturity of the
Securities is accelerated in the case of Securities issued at a discount from
their face amount;

(21)         whether any Securities
will not have Guarantees; and

(22)         any other terms in
addition to or different from those contained in this Indenture.

All Securities of one Series need not be issued at the
same time and, unless otherwise provided, a Series may be reopened for
issuances of additional Securities of such Series pursuant to an Authorizing
Resolution, an Officers’ Certificate or in any indenture supplemental
hereto.  The creation and issuance of a
Series and the authentication and delivery thereof are not subject to any
conditions precedent.

Section
2.02                            Execution
and Authentication.

Two Officers shall sign the Securities for the Company
by manual or facsimile signature.  The
Company’s seal shall be reproduced on the Securities.  Each Guarantor shall execute the Guarantee in
the manner set forth in Section 9.08.

If an Officer whose signature is on a Security no
longer holds that office at the time the Trustee authenticates the Security,
the Security shall nevertheless be valid.

A Security shall not be valid until the Trustee
manually signs the certificate of authentication on the Security.  The signature shall be conclusive evidence
that the Security has been authenticated under this Indenture.

The Trustee shall authenticate Securities for original
issue upon receipt of an Officers’ Certificate of the Company.  Each Security shall be dated the date of its
authentication.

 11

Section
2.03                            Registrar
and Paying Agent.

The Company shall maintain an office or agency where
Securities may be presented for registration of transfer or for exchange (“Registrar”), an office or agency where Securities may be
presented for payment (“Paying Agent”)
and an office or agency where notices and demands to or upon the Company in
respect of the Securities and this Indenture may be served.  The Registrar shall keep a register of the
Securities and of their transfer and exchange. 
The Company may have one or more co-Registrars and one or more
additional paying agents.  The term “Paying Agent” includes any additional paying agent.

The Company shall enter into an appropriate agency
agreement with any Agent not a party to this Indenture.  The agreement shall implement the provisions
of this Indenture that relate to such Agent. 
The Company shall promptly notify the Trustee in writing of the name and
address of any such Agent and the Trustee shall have the right to inspect the
Securities register at all reasonable times to obtain copies thereof, and the
Trustee shall have the right to rely upon such register as to the names and
addresses of the Holders and the principal amounts and certificate numbers
thereof.  If the Company fails to
maintain a Registrar or Paying Agent or fails to give the foregoing notice, the
Trustee shall act as such.

The Company initially appoints the Trustee as
Registrar and Paying Agent.

Section
2.04                            Paying
Agent to Hold Money in Trust.

Each Paying Agent shall hold in trust for the benefit
of Securityholders and the Trustee all money held by the Paying Agent for the
payment of principal of or interest on the Securities, and shall notify the
Trustee of any default by the Company in making any such payment.  If the Company or a Subsidiary acts as Paying
Agent, it shall segregate the money and hold it as a separate trust fund.  The Company at any time may require a Paying
Agent to pay all money held by it to the Trustee.  Upon doing so the Paying Agent shall have no
further liability for the money.

Section
2.05                            Securityholder
Lists.

The Trustee shall preserve in as current a form as is
reasonably practicable the most recent list available to it of the names and
addresses of Securityholders.  If the
Trustee is not the Registrar, the Company shall furnish to the Trustee at least
7 Business Days before each semiannual interest payment date and at such other
times as the Trustee may request in writing a list in such form and as of such
date as the Trustee may reasonably require of the names and addresses of
Securityholders.

Section
2.06                            Transfer
and Exchange.

Where a Security is presented to the Registrar or a
co-Registrar with a request to register a transfer, the Registrar shall
register the transfer as requested if the requirements of Section 8-401(1) of
the New York Uniform Commercial Code are met. 
Where Securities are presented to the Registrar or a co-Registrar with a
request to exchange them for an equal principal amount of Securities of other
denominations, the Registrar shall make the exchange as requested if the same
requirements are met.  To permit
transfers and exchanges, the Trustee shall

 12
 

authenticate Securities at the Registrar’s
request.  The Registrar need not transfer
or exchange any Security selected for redemption, except the unredeemed part
thereof if the Security is redeemed in part, or transfer or exchange any
Securities for a period of 15 days before a selection of Securities to be
redeemed.  Any exchange or transfer shall
be without charge, except that the Company may require payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in
relation thereto except in the case of exchanges pursuant to 2.09, 3.06, or
10.05 not involving any transfer.

Any Holder of a global Security shall, by acceptance
of such global Security, agree that transfers of beneficial interests in such
global Security may be effected only through a book entry system maintained by
the Holder of such global Security (or its agent), and that ownership of a
beneficial interest in the Security shall be required to be reflected in a book
entry.

Section
2.07                            Replacement
Securities.

If the Holder of a Security claims that the Security
has been lost, destroyed, mutilated or wrongfully taken, the Company shall
issue and, upon written request of any Officer of the Company, the Trustee
shall authenticate a replacement Security, provided in the case of a lost,
destroyed or wrongfully taken Security, that the requirements of Section 8-405
of the New York Uniform Commercial Code are met.  If any such lost, destroyed, mutilated or
wrongfully taken Security shall have matured or shall be about to mature, the
Company may, instead of issuing a substitute Security therefor, pay such
Security without requiring (except in the case of a mutilated Security) the
surrender thereof.  An indemnity bond
must be sufficient in the judgment of the Company and the Trustee to protect
the Company, the Trustee or any Agent from any loss which any of them may
suffer if a Security is replaced, including the acquisition of such Security by
a bona fide purchaser.  The Company or
the Trustee may charge for its expenses in replacing a Security.

Section
2.08                            Outstanding
Securities.

Securities outstanding at any time are all Securities
authenticated by the Trustee except for those cancelled by it and those
described in this Section.  A Security
does not cease to be outstanding because the Company, any Guarantor or one of
their Affiliates holds the Security.  If
a Security is replaced pursuant to Section 2.07, it ceases to be outstanding
unless the Trustee receives proof satisfactory to it that the replaced Security
is held by a bona fide purchaser.  If the
Paying Agent holds on a redemption date or maturity date money sufficient to
pay Securities payable on that date, then on and after that date such
Securities cease to be outstanding and interest on them ceases to accrue.

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
2.09                            Temporary
Securities.

Until definitive Securities are ready for delivery,
the Company may prepare and the Trustee shall authenticate temporary
Securities.  Temporary Securities shall
be substantially

 13
 

in the form of definitive Securities but may have
variations that the Company considers appropriate for temporary
Securities.  Without unreasonable delay,
the Company shall prepare and, upon surrender for cancellation of the temporary
Security, the Company and the Guarantors shall execute and the Trustee shall
authenticate definitive Securities in exchange for temporary Securities.  Until so exchanged, the temporary Securities
shall in all respects be entitled to the same benefits under this Indenture as
definitive Securities authenticated and delivered hereunder.

Section
2.10                            Cancellation.

The Company at any time may deliver Securities to the
Trustee for cancellation.  The Registrar
and Paying Agent shall forward to the Trustee any Securities surrendered to
them for registration of transfer, exchange, redemption or payment.  The Trustee and no one else shall cancel and
destroy, or retain in accordance with its standard retention policy, all
Securities surrendered for registration or transfer, exchange, redemption,
paying or cancellation.  Unless the
Authorizing Resolution so provides, the Company may not issue new Securities to
replace Securities that it has previously paid or delivered to the Trustee for
cancellation.

Section
2.11                            Defaulted
Interest.

If the Company defaults in a payment of interest on
the Securities, it shall pay the defaulted interest plus any interest payable
on the defaulted interest to the persons who are Securityholders on a
subsequent special record date.  The
Company shall fix such special record date and a payment date which shall be
reasonably satisfactory to the Trustee. 
At least 15 days before such special record date, the Company shall mail
to each Securityholder a notice that states the record date, the payment date
and the amount of defaulted interest to be paid.  On or before the date such notice is mailed,
the Company shall deposit with the Paying Agent money sufficient to pay the
amount of defaulted interest to be so paid. 
The Company may pay defaulted interest in any other lawful manner if,
after notice given by the Company to the Trustee of the proposed payment, such
manner of payment shall be deemed practicable by the Trustee.

Section
2.12                            Treasury
Securities.

In determining whether the Holders of the required
principal amount of Securities of a Series have concurred in any direction,
waiver, consent or notice, Securities owned by the Company, the Guarantors or
any of their respective Affiliates shall be considered as though they are not
outstanding, except that for the purposes of determining whether the Trustee
shall be protected in relying on any such direction, waiver or consent, only
Securities which the Trustee actually knows are so owned shall be so
considered.

Section
2.13                            CUSIP
Numbers.

The Company in issuing the Securities of any Series
may use a “CUSIP” number, and if so, the Trustee
shall use the CUSIP number in notices of redemption or exchange as a
convenience to Holders of such Securities; provided that no representation is
hereby deemed to be made by the Trustee as to the correctness or accuracy of
any such CUSIP number printed in the notice or on such Securities, and that
reliance may be placed only on the other identification numbers printed on such
Securities.  The Company shall promptly
notify the Trustee of any change in any CUSIP number.

 14
 

Section
2.14                            Deposit
of Moneys.

Prior to 11:00 a.m. New York City time on each
interest payment date and maturity date with respect to each Series of
Securities, the Company shall have deposited with the Paying Agent in
immediately available funds money sufficient to make cash payments due on such
interest payment date or maturity date, as the case may be, in a timely manner
which permits the Paying Agent to remit payment to the Holders on such interest
payment date or maturity date, as the case may be.

Section
2.15                            Book-Entry
Provisions for Global Security.

(a)           Any global Security of
a Series initially shall (i) be registered in the name of the depository who
shall be identified in the Authorizing Resolution or supplemental indenture
relating to such Securities (the “Depository”) or
the nominee of such Depository, (ii) be delivered to the Trustee as custodian
for such Depository and (iii) bear any required legends.  Members of, or participants in, the
Depository (“Agent Members”) shall have no
rights under this Indenture with respect to any global Security held on their
behalf by the Depository, or the Trustee as its custodian, or under the global
Security, and the Depository may be treated by the Company, the Trustee and any
agent of the Company or the Trustee as the absolute owner of the global
Security for all purposes whatsoever.  Notwithstanding
the foregoing, nothing herein shall prevent the Company, the Trustee or any
agent of the Company or the Trustee from giving effect to any written
certification, proxy or other authorization furnished by the Depository or
impair, as between the Depository and its Agent Members, the operation of
customary practices governing the exercise of the rights of a Holder of any
Security.

(b)           Transfers of any global
Security shall be limited to transfers in whole, but not in part, to the
Depository, its successors or their respective nominees.  Interests of beneficial owners in the global
Security may be transferred or exchanged for definitive Securities in
accordance with the rules and procedures of the Depository.  In addition, definitive Securities shall be
transferred to all beneficial owners in exchange for their beneficial interests
in a global Security if (i) the Depository notifies the Company that it is
unwilling or unable to continue as Depository for the global Security and a
successor depository is not appointed by the Company within 90 days of such
notice or (ii) an Event of Default has occurred and is continuing and the
Registrar has received a request from the Depository to issue definitive
Securities.

(c)           In connection with any
transfer or exchange of a portion of the beneficial interest in any global
Security to beneficial owners pursuant to paragraph (b), the Registrar shall
(if one or more definitive Securities are to be issued) reflect on its books
and records the date and a decrease in the principal amount of the global Security
in an amount equal to the principal amount of the beneficial interest in the
global Security to be transferred, and the Company and the Guarantors shall
execute, and the Trustee shall authenticate and deliver, one or more definitive
Securities of like tenor and amount.

(d)           In connection with the
transfer of an entire global Security to beneficial owners pursuant to
paragraph (b), the global Security shall be deemed to be surrendered to the
Trustee for cancellation, and the Company and the Guarantors shall execute, and
the Trustee shall authenticate and deliver, to each beneficial owner identified
by the Depository in exchange

 15
 

for its beneficial interest in the global Security, an
equal aggregate principal amount of definitive Securities of authorized denominations.

(e)           The Holder of any
global Security may grant proxies and otherwise authorize any person, including
Agent Members and persons that may hold interests through Agent Members, to
take any action which a Holder is entitled to take under this Indenture or the
Securities of such Series.

ARTICLE THREE

Redemption

Section
3.01                            Notices
to Trustee.

Securities of a Series that are redeemable prior to
maturity shall be redeemable in accordance with their terms and, unless the
Authorizing Resolution or supplemental indenture provides otherwise, in
accordance with this Article.

If the Company wants to redeem Securities pursuant to
Paragraph 5 of the Securities, it shall notify the Trustee in writing of the
Redemption Date and the principal amount of Securities to be redeemed.  Any such notice may be cancelled at any time
prior to notice of such redemption being mailed to Holders.  Any such cancelled notice shall be void and
of no effect.

If the Company wants to credit any Securities
previously redeemed, retired or acquired against any redemption pursuant to
Paragraph 6 of the Securities, it shall notify the Trustee of the amount of the
credit and it shall deliver any Securities not previously delivered to the
Trustee for cancellation with such notice.

The Company shall give each notice provided for in
this Section 3.01 at least 30 days before the notice of any such redemption is
to be mailed to Holders (unless a shorter notice shall be satisfactory to the
Trustee).

Section
3.02                            Selection
of Securities to be Redeemed.

If fewer than all of the Securities of a Series are to
be redeemed, the Trustee shall select the Securities to be redeemed by a method
the Trustee considers fair and appropriate. 
The Trustee shall make the selection from Securities outstanding not
previously called for redemption and shall promptly notify the Company of the
serial numbers or other identifying attributes of the Securities so
selected.  The Trustee may select for
redemption portions of the principal of Securities that have denominations
larger than the minimum denomination for the Series.  Securities and portions of them it selects
shall be in amounts equal to the minimum denomination for the Series or an
integral multiple thereof.  Provisions of
this Indenture that apply to Securities called for redemption also apply to
portions of Securities called for redemption.

 16
 

Section
3.03                            Notice
of Redemption.

At least 30 days but not more than 60 days before a
redemption date, the Company shall mail a notice of redemption by first-class
mail, postage prepaid, to each Holder of Securities to be redeemed.  The notice shall identify the Securities to
be redeemed and shall state:

(1)           the redemption date;

(2)           the redemption price;

(3)           the name and address of
the Paying Agent;

(4)           that Securities called
for redemption must be surrendered to the Paying Agent to collect the
redemption price;

(5)           that interest on
Securities called for redemption ceases to accrue on and after the redemption
date; and

(6)           that the Securities are
being redeemed pursuant to the mandatory redemption or the optional redemption
provisions, as applicable.  At the
Company’s request, the Trustee shall give the notice of redemption in the
Company’s name and at its expense; provided, however, that the Company shall
deliver to the Trustee at least 15 days prior to the date on which notice of
redemption is to be mailed or such shorter period as may be satisfactory to the
Trustee, an Officers’ Certificate requesting that the Trustee give such notice
and setting forth the information to be stated in such notice as provided in
the preceding paragraph.

Section
3.04                            Effect
of Notice of Redemption.

Once notice of redemption is mailed, Securities called
for redemption become due and payable on the redemption date and at the
redemption price as set forth in the notice of redemption.  Upon surrender to the Paying Agent, such
Securities shall be paid at the redemption price, plus accrued interest to the
redemption date.

Section
3.05                            Deposit
of Redemption Price.

On or before the redemption date, the Company shall
deposit with the Paying Agent immediately available funds sufficient to pay the
redemption price of and accrued interest on all Securities to be redeemed on
that date.

Section
3.06                            Securities
Redeemed in Part.

Upon surrender of a Security that is redeemed in part,
the Company and the Guarantors shall execute and the Trustee shall authenticate
for each Holder a new Security equal in principal amount to the unredeemed
portion of the Security surrendered.

 17
 

ARTICLE FOUR

Covenants

Section
4.01                            Payment
of Securities.

The Company shall pay the principal of and interest on
a Series on the dates and in the manner provided in the Securities of the
Series.  An installment of principal or
interest shall be considered paid on the date it is due if the Paying Agent
holds on that date money designated for and sufficient to pay the installment.

The Company shall pay interest on overdue principal at
the rate borne by the Series; it shall pay interest on overdue installments of
interest at the same rate.

Section
4.02                            Maintenance
of Office or Agency.

The Company shall maintain the office or agency
required under Section 2.03.  The Company
shall give prior written notice to the Trustee of the location, and any change
in the location, of such office or agency. 
If at any time the Company shall fail to maintain any such required
office or agency or shall fail to furnish the Trustee with the address thereof,
such presentations, surrenders, notices and demands may be made or served at
the address of the Trustee.

Section
4.03                            Compliance
Certificate.

The Company shall deliver to the Trustee within 120
days after the end of each fiscal year of the Company an Officers’ Certificate
stating whether or not the signers know of any Default by the Company in
performing any of its obligations under this Indenture.  If they do know of such a Default, the
certificate shall describe the Default.

Section
4.04                            Payment
of Taxes; Maintenance of Corporate Existence; Maintenance of Properties.

The Company will:

(a)           cause to be paid and
discharged all lawful taxes, assessments and governmental charges or levies
imposed upon the Company and its Restricted Subsidiaries or upon the income or
profits of the Company and its Restricted Subsidiaries or upon property or any
part thereof belonging to the Company and its Restricted Subsidiaries before
the same shall be in default, as well as all lawful claims for labor, materials
and supplies which, if unpaid, might become a lien or charge upon such property
or any part thereof; provided, however, that the Company shall not be required
to cause to be paid or discharged any such tax, assessment, charge, levy or
claim so long as the validity or amount thereof shall be contested in good
faith by appropriate proceedings and the nonpayment thereof does not, in the
judgment of the Company, materially adversely affect the ability of the Company
and the Restricted Subsidiaries to pay all obligations under the Indenture when
due; and provided further that the Company shall not be required to cause to be
paid or discharged any such tax, assessment, charge, levy or claim if, in the
judgment of the Company, such payment shall not be advantageous to the Company
in the conduct of its business and if the failure so to pay or discharge does
not, in its judgment, materially adversely affect the ability of the Company
and the Restricted Subsidiaries to pay all obligations under this Indenture
when due;

 18
 

(b)           cause to be done all
things necessary to preserve and keep in full force and effect the corporate
existence of the Company and each of its Restricted Subsidiaries and to comply
with all applicable laws; provided, however, that nothing in this subsection
(b) shall prevent a consolidation or merger of the Company or any Restricted
Subsidiary not prohibited by the provisions of Article Five, Article Nine or
any other provision or the Authorizing Resolution or supplemental indenture
pertaining to a Series, and the Company need not maintain the corporate
existence of an immaterial Restricted Subsidiary which is not a Guarantor; and

(c)           at all times keep,
maintain and preserve all the property of the Company and the Restricted
Subsidiaries in good repair, working order and condition (reasonable wear and
tear excepted) and from time to time make all needful and proper repairs, renewals,
replacements, betterments and improvements thereto, so that the business
carried on in connection therewith may be properly and advantageously conducted
at all times; provided, however, that nothing in this subsection (c) shall
prevent the Company from discontinuing the operation and maintenance of any
such properties if such discontinuance is, in the judgment of the Company,
desirable in the conduct of its business and not disadvantageous in any
material respect to the ability of the Company and the Restricted Subsidiaries
to pay all obligations under this Indenture when due.

Section
4.05                            Additional
Guarantors.

If the Company or any of the Guarantors transfers or
causes to be transferred, in one transaction or a series of related
transactions, any property to any Restricted Subsidiary of the Company that is
not a Guarantor, or if the Company or any of the Guarantors shall organize,
acquire or otherwise invest in another Subsidiary which becomes a Restricted
Subsidiary, then such transferee or acquired or other Subsidiary shall (i)
execute and deliver to the Trustee a supplemental indenture in form reasonably
satisfactory to the Trustee pursuant to which such Subsidiary shall
unconditionally guarantee all of the Company’s obligations under the Securities
of any Series that has the benefit of Guarantees of other Subsidiaries of the
Company and this Indenture (as it relates to all such Series) on the terms set
forth in this Indenture and (ii) deliver to the Trustee an Opinion of Counsel
that such supplemental indenture has been duly authorized, executed and
delivered by such Subsidiary and constitutes a legal, valid, binding and
enforceable obligation of such Subsidiary. 
Thereafter, such Subsidiary shall be a Guarantor for all purposes of
this Indenture (as it relates to all such Series).

ARTICLE FIVE

Successor Corporation

Section
5.01                            When
Company May Merge, etc.

The Company shall not consolidate with or merge with
or into, any other corporation, or transfer all or substantially all of its
assets to, any entity unless permitted by law and unless (1) the resulting,
surviving or transferee entity, which shall be a corporation organized and
existing under the laws of the United States or a State thereof, assumes by
supplemental indenture, in a form reasonably satisfactory to the Trustee, all
of the obligations of the Company under the Securities and this Indenture and
(2) immediately after giving effect to, and as a result

 19
 

of, such transaction, no Default or Event of Default
shall have occurred and be continuing. 
Thereafter such successor corporation or corporations shall succeed to
and be substituted for the Company with the same effect as if it had been named
herein as the “Company” and all such obligations
of the predecessor corporation shall terminate.

The Company shall deliver to the Trustee prior to the
consummation of the proposed transaction an Officers’ Certificate to the
foregoing effect and an Opinion of Counsel stating that the proposed
transaction and such supplemental indenture comply with this Indenture.  To the extent that an Authorizing Resolution
or supplemental indenture pertaining to any Series provides for different
provisions relating to the subject matter of this Article Five, the provisions
in such Authorizing Resolution or supplemental indenture shall govern for
purposes of such Series.

ARTICLE SIX

Defaults and
Remedies

Section
6.01                            Events
of Default.

An “Event of Default”
on a Series occurs if, voluntarily or involuntarily, whether by operation of
law or otherwise, any of the following occurs:

(1)           the failure by the
Company to pay interest on any Security of such Series when the same becomes
due and payable and the continuance of any such failure for a period of 30
days, whether or not such payment is prohibited by Article Twelve or Article
Thirteen hereof;

(2)           the failure by the
Company to pay the principal or premium of any Security of such Series when the
same becomes due and payable at maturity, upon acceleration or otherwise,
whether or not such payment is prohibited by Article Twelve or Article Thirteen
hereof;

(3)           the failure by the
Company or any Restricted Subsidiary to comply with any of its agreements or
covenants in, or provisions of, the Securities of such Series, the Guarantees
(as they relate thereto) or this Indenture (as they relate thereto) and such
failure continues for the period and after the notice specified below (except
in the case of a default with respect to any Change of Control Provisions or
Article Five (or any replacement provisions as contemplated by Article Five),
which will constitute Events of Default with notice but without passage of
time);

(4)           the acceleration of any
Indebtedness (other than Non-Recourse Indebtedness) of the Company or any
Restricted Subsidiary in an amount of $            
or more, individually or in the aggregate, and such acceleration does not cease
to exist, or such Indebtedness is not satisfied, in either case within five
days after such acceleration;

(5)           the failure by the
Company or any Restricted Subsidiary to make any principal or interest payment
in an amount of $            
or more, individually or in the aggregate, in respect of Indebtedness (other
than Non-Resource Indebtedness) of the Company or any Restricted Subsidiary
within five days of such principal or interest becoming due and payable

 20
 

(after giving effect to any applicable grace period
set forth in the documents governing such Indebtedness);

(6)           a final judgment or
judgments in an amount of $            
or more, individually or in the aggregate, for the payment of money having been
entered by a court or courts of competent jurisdiction against the Company or
any of its Restricted Subsidiaries and such judgment or judgments is not
satisfied, stayed, annulled or rescinded within 60 days of being entered;

(7)           the Company or any
Restricted Subsidiary that is a Significant Subsidiary pursuant to or within
the meaning of any Bankruptcy Law:

(A)          commences a voluntary
case,

(B)           consents to the entry
of an order for relief against it in an involuntary case,

(C)           consents to the appointment
of a Custodian of it or for all or substantially all of its property, or

(D)          makes a general
assignment for the benefit of its creditors;

(8)           a court of competent
jurisdiction enters an order or decree under any Bankruptcy Law that:

(A)          is for relief against
the Company or any Restricted Subsidiary that is a Significant Subsidiary as
debtor in an involuntary case,

(B)           appoints a Custodian of
the Company or any Restricted Subsidiary that is a Significant Subsidiary or a
Custodian for all or substantially all of the property of the Company or any
Restricted Subsidiary that is a Significant Subsidiary, or

(C)           orders the liquidation
of the Company or any Restricted Subsidiary that is a Significant Subsidiary,
and the order or decree remains unstayed and in effect for 60 days; or

(9)           any Guarantee of a
Guarantor which is a Significant Subsidiary ceases to be in full force and
effect (other than in accordance with the terms of such Guarantee and the
Indenture) or is declared null and void and unenforceable or found to be
invalid or any Guarantor denies its liability under its Guarantee (other than
by reason of release of a Guarantor from its Guarantee in accordance with the
terms of the Indenture and the Guarantee).

A Default as described in sub-clause (3) above will
not be deemed an Event of Default until the Trustee notifies the Company, or
the Holders of at least 25 percent in principal amount of the then outstanding
Securities of the applicable Series notify the Company and the Trustee, of the
Default and (except in the case of a default with respect to any Change of
Control Provisions or Article Five (or any replacement provisions as
contemplated by Article Five)) the Company does not cure the Default within 60
days after receipt of the notice.  The notice
must specify the Default, demand that it be remedied and state that the notice
is a “Notice of Default.” If such a Default is
cured within such time period, it ceases.

 21
 

The term “Custodian”
means any receiver, trustee, assignee, liquidator, custodian or similar
official under any Bankruptcy Law.

Section
6.02                            Acceleration.

If an Event of Default (other than an Event of Default
with respect to the Company resulting from sub-clauses (7) or (8) above), shall
have occurred and be continuing under the Indenture, the Trustee by notice to
the Company, or the Holders of at least 25 percent in principal amount of the
Securities of the applicable Series then outstanding by notice to the Company
and the Trustee, may declare all Securities of such Series to be due and
payable immediately.  Upon such
declaration of acceleration, the amounts due and payable on the Securities of
such Series will be due and payable immediately.  If an Event of Default with respect to the
Company specified in sub-clauses (7) or (8) above occurs, all amounts due and
payable on the Securities of such Series will ipso facto become and be
immediately due and payable without any declaration, notice or other act on the
part of the Trustee and the Company or any Holder.  The Holders of a majority in principal amount
of the Securities of such Series then outstanding by written notice to the
Trustee and the Company may waive any Default or Event of Default (other than
any Default or Event of Default in payment of principal or interest) with
respect to such Series of Securities under the Indenture.  Holders of a majority in principal amount of
the then outstanding Securities of such Series may rescind an acceleration with
respect to such Series and its consequence (except an acceleration due to
nonpayment of principal or interest on the Securities of such Series) if the
rescission would not conflict with any judgment or decree and if all existing
Events of Default have been cured or waived.

No such rescission shall extend to or shall affect any
subsequent Event of Default, or shall impair any right or power consequent
thereon.

Section
6.03                            Other
Remedies.

If an Event of Default on a Series occurs and is
continuing, the Trustee may pursue any available remedy by proceeding at law or
in equity to collect the payment of principal of or interest on the Series or
to enforce the performance of any provision in the Securities or this Indenture
applicable to the Series.

The Trustee may maintain a proceeding even if it does
not possess any of the Securities or does not produce any of them in the
proceeding.  A delay or omission by the
Trustee or any Securityholder in exercising any right or remedy accruing upon
an Event of Default shall not impair the right or remedy or constitute a waiver
of or acquiescence in the Event of Default. 
No remedy is exclusive of any other remedy.  All available remedies are cumulative.

Section
6.04                            Waiver
of Existing Defaults.

Subject to Section 10.02, the Holders of a majority in
principal amount of the outstanding Securities of a Series on behalf of all the
Holders of the Series by notice to the Trustee may waive an existing Default on
such Series and its consequences.  When a
Default is waived, it is cured and stops continuing, and any Event of Default
arising therefrom shall be

 22

deemed to have been cured; but no such waiver shall
extend to any subsequent or other Default or impair any right consequent
thereon.

Section
6.05                            Control
by Majority.

The Holders of a majority in principal amount of the
outstanding Securities of a Series may direct the time, method and place of
conducting any proceeding for any remedy available to the Trustee or exercising
any trust or power conferred on it with respect to such Series.  The Trustee, however, may refuse to follow
any direction (i) that conflicts with law or this Indenture, (ii) that, subject
to Section 7.01, the Trustee determines is unduly prejudicial to the rights of
other Securityholders, (iii) that would involve the Trustee in personal
liability or (iv) if the Trustee shall not have been provided with indemnity
satisfactory to it.

Section
6.06                            Limitation
on Suits.

A Securityholder of a Series may not pursue any remedy
with respect to this Indenture or the Series unless:

(1)           the Holder gives to the
Trustee written notice of a continuing Event of Default on the Series;

(2)           the Holders of at least
a majority in principal amount of the outstanding Securities of the Series make
a written request to the Trustee to pursue the remedy;

(3)           such Holder or Holders
offer to the Trustee indemnity satisfactory to the Trustee against any loss,
liability or expense;

(4)           the Trustee does not
comply with the request within 60 days after receipt of the request and the
offer of indemnity; and

(5)           no written request
inconsistent with such written request shall have been given to the Trustee
pursuant to this Section 6.06.

A Securityholder may not use this Indenture to
prejudice the rights of another Securityholder or to obtain a preference or
priority over another Securityholder.

Section
6.07                            Rights
of Holders to Receive Payment.

Notwithstanding any other provision of this Indenture,
the right of any Holder to receive payment of principal of and interest on the
Security, on or after the respective due dates expressed in the Security, or to
bring suit for the enforcement of any such payment on or after such respective
dates, is absolute and unconditional and shall not be impaired or affected
without the consent of the Holder.

Section
6.08                            Collection
Suit by Trustee.

If an Event of Default in payment of interest or principal
specified in Section 6.01(1) or (2) occurs and is continuing, the Trustee may
recover judgment in its own name and

 23
 

as trustee of an express trust against the Company for
the whole amount of principal and interest remaining unpaid.

Section
6.09                            Trustee
May File Proofs of Claim.

The Trustee may file such proofs of claim and other
papers or documents as may be necessary or advisable in order to have the
claims of the Trustee (including any claim for the reasonable compensation,
expenses, disbursements, and advances of the Trustee, its agents and counsel)
and the Securityholders allowed in any judicial proceedings relative to the
Company, its creditors or its property, and unless prohibited by applicable law
or regulation, may vote on behalf of the Holders in any election of a
Custodian, and shall be entitled and empowered to collect and receive any
moneys or other property payable or deliverable on any such claims and to
distribute the same and any Custodian in any such judicial proceeding is hereby
authorized by each Securityholder to make such payments to the Trustee.  Nothing herein shall be deemed to authorize
the Trustee to authorize or consent to or vote for or accept or adopt on behalf
of any Securityholder any plan of reorganization, arrangement, adjustment or
composition affecting the Securities or the rights of any Holder or to
authorize the Trustee to vote in respect of the claim of any Securityholder
except as aforesaid for the election of the Custodian.

Section
6.10                            Priorities.

If the Trustee collects any money pursuant to this
Article, it shall pay out the money in the following order: First: to the
Trustee for amounts due under Section 7.07; Second: to Securityholders of the
Series for amounts due and unpaid on the Series for principal and interest,
ratably, without preference or priority of any kind, according to the amounts
due and payable on the Series for principal and interest, respectively; and
Third: to the Company or the Guarantors as their interests may appear.

The Trustee may fix a record date and payment date for
any payment to Securityholders pursuant to this Section 6 10.

Section
6.11                            Undertaking
for Costs.

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

 24
 

ARTICLE SEVEN

Trustee

Section
7.01                            Duties
of Trustee.

(a)           If an Event of Default
has occurred and is continuing, the Trustee shall, prior to the receipt of
directions from the Holders of a majority in principal amount of the
Securities, exercise its rights and powers and use the same degree of care and
skill in their exercise as a prudent man would exercise or use under the
circumstances in the conduct of his own affairs.

(b)           Except during the
continuance of an Event of Default:

(1)           The Trustee need
perform only those duties that are specifically set forth in this Indenture and
no others and no implied covenants or obligations shall be read into this
Indenture against the Trustee.

(2)           In the absence of bad
faith on its part, the Trustee may conclusively rely, as to the truth of the
statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the
requirements of this Indenture.  The
Trustee, however, shall examine the certificates and opinions to determine
whether or not they conform to the requirements of this Indenture but need not
confirm or investigate the accuracy of mathematical calculations or other facts
or matters stated therein.

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

(1)           This paragraph does not
limit the effect of paragraph (b) of this Section.

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

(3)           The Trustee shall not
be liable with respect to any action it takes or omits to take in good faith in
accordance with a direction received by it pursuant to Section 6.05 or any
other direction of the Holders permitted hereunder.

(d)           Every provision of this
Indenture that in any way relates to the Trustee is subject to paragraphs (a),
(b) and (c) of this Section.

(e)           The Trustee may refuse
to perform any duty or exercise any right or power unless it receives indemnity
satisfactory to it against any loss, liability or expense.

(f)            The Trustee shall not
be liable for interest on any money received by it except as the Trustee may
agree with the Company.  Money held in
trust by the Trustee need not be segregated from other funds except to the
extent required by law.

(g)           None of the provisions
contained in this Indenture shall require the Trustee to expend or risk its own
funds or otherwise incur financial liability in the performance of any of its
duties or in the exercise of any of its rights or powers, if there shall be
reasonable grounds for believing that the repayment of such funds or adequate
indemnity against such liability is not reasonably assured to it.

 25
 

Section
7.02                            Rights
of Trustee.

Subject to Section 7.01:

(a)           The Trustee may rely
and shall be protected in acting or refraining from acting on any document,
resolution, certificate, instrument, report, or direction believed by it to be
genuine and to have been signed or presented by the proper person.  The Trustee need not investigate any fact or
matter stated in the document, resolution, certificate, instrument, report, or
direction.

(b)           Before the Trustee acts
or refrains from acting, it may require an Officers’ Certificate or an Opinion
of Counsel or both, which shall conform to Sections 11.04 and 11.05 hereof and
containing such other statements as the Trustee reasonably deems necessary to
perform its duties hereunder.  The
Trustee shall not be liable for any action it takes or omits to take in good
faith in reliance on the Officers’ Certificate, Opinion of Counsel or any other
direction of the Company permitted hereunder.

(c)           The Trustee may act
through agents and shall not be responsible for the misconduct or negligence of
any agent appointed with due care.

(d)           The Trustee shall not
be liable for any action taken, suffered or omitted by it in good faith and
believed by it to be authorized or within the discretion or rights or powers
conferred upon it by this Indenture.

(e)           The Trustee may consult
with counsel, and the written advice of such counsel or any Opinion of Counsel
as to matters of law shall be full and complete authorization and protection in
respect of any action taken, omitted or suffered by it hereunder in good faith
and in accordance with the advice or opinion of such counsel.

(f)            Unless otherwise
specifically provided in the Indenture, any demand, request, direction or
notice from the Company shall be sufficient if signed by an Officer of the
Company.

(g)           For all purposes under
this Indenture, the Trustee shall not be deemed to have notice or knowledge of
any Event of Default (other than under Section 6.01(1) or 6.01(2)) unless a
Trust Officer assigned to and working in the Trustee’s corporate trust office
has actual knowledge thereof or unless written notice of any Event of Default
is received by the Trustee at its address specified in Section 11.02 hereof and
such notice references the Securities generally, the Company or this Indenture.

Section
7.03                            Individual
Rights of Trustee.

The Trustee in its individual or any other capacity
may become the owner or pledgee of Securities and may otherwise deal with the
Company or its affiliates with the same rights it would have if it were not
Trustee.  Any Agent may do the same with
like rights.  The Trustee, however, must
comply with Sections 7.10 and 7.11.

 26
 

Section
7.04                            Trustee’s
Disclaimer.

The Trustee makes no representation as to the validity
or adequacy of this Indenture, the Securities or of any prospectus used to sell
the Securities; it shall not be ac countable for the Company’s use of the
proceeds from the Securities; it shall not be accountable for any money paid to
the Company, or upon the Company’s direction, if made under and in accordance
with any provision of this Indenture; it shall not be responsible for the use
or application of any money received by any Paying Agent other than the Trustee;
and it shall not be responsible for any statement of the Company in this
Indenture or in the Securities other than its certificate of authentication.

Section
7.05                            Notice
of Defaults.

If a Default on a Series occurs and is continuing and
if it is known to the Trustee, the Trustee shall mail to each Securityholder of
the Series notice of the Default (which shall specify any uncured Default known
to it) within 90 days after it occurs. 
Except in the case of a default in payment of principal of or interest on
a Series, the Trustee may withhold the notice if and so long as the board of
directors of the Trustee, the executive or any trust committee of such
directors and/or responsible officers of the Trustee in good faith determine(s)
that withholding the notice is in the interests of Holders of the Series.

Section
7.06                            Reports
by Trustee to Holders.

Within 60 days after each May 15 beginning with the
May 15 following the date of this Indenture, the Trustee shall mail to each
Securityholder a brief report dated as of such May 15 that complies with TIA
ss. 313(a) (but if no event described in TIA ss. 313(2) has occurred within the
twelve months preceding the reporting date no report need be transmitted).  The Trustee also shall comply with TIA ss.
313(b).

A copy of each report at the time of its mailing to
Securityholders shall be delivered to the Company and filed by the Trustee with
the SEC and each national securities exchange on which the Securities are
listed.  The Company agrees to notify the
Trustee of each national securities exchange on which the Securities are
listed.

Section
7.07                            Compensation
and Indemnity.

The Company shall pay to the Trustee or predecessor
trustee from time to time reasonable compensation for their respective services
subject to any written agreement between the Trustee and the Company.  The Company shall reimburse the Trustee upon
request for all reasonable out-of-pocket expenses incurred by it.  Such expenses shall include the reasonable
compensation and expenses of the Trustee’s agents and counsel.  The Company shall indemnify the Trustee and
each predecessor trustee, its officers, directors, employees and agents and
hold it harmless against any loss, liability or expense incurred or made by or
on behalf of it in connection with the administration of this Indenture or the
trust hereunder and its duties hereunder including the costs and expenses of
defending itself against or investigating any claim in the premises.  The Trustee shall notify the Company promptly
of any claim for which it may seek indemnity. 
The Company need not reimburse any expense or indemnify against any loss
or liability incurred by the Trustee through the Trustee’s, or its officers’,
directors’, employees’ or agents’ negligence or bad faith.

 27
 

To ensure the Company’s payment obligations in this
Section, the Trustee shall have a claim prior to the Securities on all money or
property held or collected by the Trustee, except that held in trust to pay
principal of or interest on particular Securities.  When the Trustee incurs expenses or renders
services in connection with an Event of Default specified in Section 6.01 or in
connection with Article 6 hereof, the expenses (including the reasonable fees
and expenses of its counsel) and the compensation for services in connection
therewith are to constitute expenses of administration under any bankruptcy
law.

Section
7.08                            Replacement
of Trustee.

The Trustee may resign by so notifying the
Company.  The Holders of a majority in
principal amount of the outstanding Securities may remove the Trustee by so
notifying the removed Trustee in writing and may appoint a successor trustee
with the Company’s consent.  Such
resignation or removal shall not take effect until the appointment by the
Securityholders or the Company as hereinafter provided of a successor trustee
and the acceptance of such appointment by such successor trustee.  The Company may remove the Trustee and any
Securityholder may petition any court of competent jurisdiction for the removal
of the Trustee and the appointment of a successor trustee for any or no reason,
including if:

(1)           the Trustee fails to
comply with Section 7.10 after written request by the Company or any bona fide
Securityholder who has been a Securityholder for at least six months;

(2)           the Trustee is adjudged
a bankrupt or an insolvent;

(3)           a receiver or other
public officer takes charge of the Trustee or its property; or (4) the Trustee
becomes incapable of acting.

If the Trustee resigns or is removed or if a vacancy
exists in the office of Trustee for any reason, the Company shall promptly
appoint a successor trustee.  If a
successor trustee does not take office within 45 days after the retiring
Trustee resigns or is removed, the retiring Trustee, the Company or any Holder
may petition any court of competent jurisdiction for the appointment of a
successor trustee.

A successor trustee shall deliver a written acceptance
of its appointment to the retiring Trustee and to the Company.  Immediately after that, the retiring Trustee
shall transfer all property held by it as Trustee to the successor trustee, the
resignation or removal of the retiring Trustee shall become effective, and the
successor trustee shall have all the rights, powers and duties of the Trustee
under this Indenture.  A successor
trustee shall mail notice of its succession to each Securityholder.

Section
7.09                            Successor
Trustee by Merger, etc.

If the Trustee consolidates with, merges with or into
or converts into, or transfers all or substantially all of its corporate trust
business to, another corporation, the successor corporation without any further
act shall be the successor trustee.

 28
 

Section
7.10                            Eligibility;
Disqualification.

This Indenture shall always have a Trustee who
satisfies the requirements of TIA ss. 310(a)(1).  The Trustee shall have a combined capital and
surplus of at least $10,000,000 as set forth in its most recent published
annual report of condition.  The Trustee
shall comply with TIA ss. 310(b).

Section
7.11                            Preferential
Collection of Claims Against Company.

The Trustee shall comply with TIA ss. 311(a),
excluding any creditor relationship listed in TIA ss. 311(b).  A Trustee who has resigned or been removed
shall be subject to TIA ss. 311(a) to the extent indicated therein.

ARTICLE EIGHT

Discharge of Indenture

Section
8.01                            Defeasance
upon Deposit of Moneys or U.S. Government Obligations.

(a)           The Company may, at its
option and, subject to the provisions of Article Twelve and Article Thirteen
hereof, at any time, elect to have either paragraph (b) or paragraph (c) below
be applied to the outstanding Securities of any Series upon compliance with the
applicable conditions set forth in paragraph (d).

(b)           Upon the Company’s
exercise under paragraph (a) of the option applicable to this paragraph (b),
the Company and the Guarantors shall be deemed to have been released and
discharged from their respective obligations with respect to the outstanding
Securities of a Series on the date the applicable conditions set forth below
are satisfied (hereinafter, “Legal Defeasance”).  For this purpose, such Legal Defeasance means
that the Company shall be deemed to have paid and discharged the entire
Indebtedness represented by the outstanding Securities of a Series, which shall
thereafter be deemed to be “outstanding” only for the purposes of the Sections
and matters under this Indenture referred to in (i) and (ii) below, and to have
satisfied all its other obligations under such Securities and this Indenture
insofar as such Securities are concerned, except for the following which shall
survive until otherwise terminated or discharged hereunder: (i) the rights of
Holders of outstanding Securities of a Series to receive solely from the trust
fund described in paragraph (d) below and as more fully set forth in such
paragraph, payments in respect of the principal of and interest on such
Securities when such payments are due and (ii) obligations listed in Section
8.02, subject to compliance with this Section 8.01.  The Company may exercise its option under
this paragraph (b) notwithstanding the prior exercise of its option under
paragraph (c) below with respect to such Securities.

(c)           Upon the Company’s
exercise under paragraph (a) of the option applicable to this paragraph (c),
the Company and the Guarantors shall be released and discharged from the obligations
under any covenant contained in Article Five, Section 4.05 and any other
covenant contained in the Authorizing Resolution or supplemental indenture
relating to such Series to the extent provided for therein, on and after the
date the conditions set forth below are satisfied (hereinafter, “Covenant Defeasance”), and the Securities of such Series
shall thereafter be deemed to be not “outstanding” for the purpose of any
direction, waiver, consent or declaration or act of Holders (and the
consequences of any thereof) in connection with such covenants, but

 29
 

shall continue to be deemed “outstanding” for all
other purposes hereunder.  For this
purpose, such Covenant Defeasance means that, with respect to the outstanding
Securities of a Series, the Company may omit to comply with and shall have no
liability in respect of any term, condition or limitation set forth in any such
covenant, whether directly or indirectly, by reason of any reference elsewhere
herein to any such covenant or by reason of any reference in any such covenant
to any other provision herein or in any other document and such omission to
comply shall not constitute a Default or an Event of Default under Section
6.01(3), but, except as specified above, the remainder of this Indenture and
such Securities shall be unaffected thereby.

(d)           The following shall be
the conditions to application of either paragraph (b) or paragraph (c) above to
the outstanding Securities of the applicable Series:

(1)           The Company shall have
irrevocably deposited in trust with the Trustee, pursuant to an irrevocable
trust and security agreement in form and substance reasonably satisfactory to
the Trustee, money in U.S. dollars or U.S. government obligations or a
combination thereof in such amounts and at such times as are sufficient, in the
opinion of a nationally recognized firm of independent public accountants, to
pay the principal of and interest on the outstanding Securities of such Series
to maturity or redemption; provided, however, that the Trustee (or other qualifying
trustee) shall have received an irrevocable written order from the Company
instructing the Trustee (or other qualifying trustee) to apply such money or
the proceeds of such U.S. government obligations to said payments with respect
to the Securities of such Series to maturity or redemption;

(2)           No Default or Event of
Default shall have occurred and be continuing on the date of such deposit;

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

(4)           (i) In the event the
Company elects paragraph (b) hereof, the Company shall deliver to the Trustee
an Opinion of Counsel in the United States, in form and substance reasonably
satisfactory to the Trustee, to the effect that (A) the Company has received
from, or there has been published by, the Internal Revenue Service a ruling or
(B) since the Issue Date pertaining to such Series, there has been a change in
the applicable federal income tax law, in either case to the effect that, and
based thereon such Opinion of Counsel shall state that, or (ii) in the event
the Company elects paragraph (c) hereof, the Company shall deliver to the
Trustee an Opinion of Counsel in the United States, in form and substance
reasonably satisfactory to the Trustee, to the effect that, in the case of
clauses (i) and (ii), Holders of the Securities of such Series will not
recognize income, gain or loss for federal income tax purposes as a result of
such deposit and the defeasance contemplated hereby and will be subject to
federal income tax in the same amounts and in the same manner and at the same
times as would have been the case if such deposit and defeasance had not
occurred;

(5)           The Company shall have
delivered to the Trustee an Officers’ Certificate, stating that the deposit
under clause (1) was not made by the Company with the intent of

 30
 

preferring the Holders of the Securities of such
Series over any other creditors of the Company or with the intent of defeating,
hindering, delaying or defrauding any other creditors of the Company or others;

(6)           The Company shall have
delivered to the Trustee an Opinion of Counsel, reasonably satisfactory to the
Trustee, to the effect that, (A) the trust funds will not be subject to the
rights of Holders of Indebtedness of the Company other than the Securities of
such Series and (B) assuming no intervening bankruptcy of the Company between
the date of deposit and the 91st day following the deposit and that no Holder
of Securities of such Series is an insider of the Company, after the 91st day
following the deposit, the trust funds will not be subject to any applicable
bankruptcy, insolvency, reorganization or similar law affecting creditors’
rights generally; and

(7)           The Company has
delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel,
each stating that all conditions precedent specified herein relating to the
defeasance contemplated by this Section 8.01 have been complied with.  In the event all or any portion of the
Securities of a Series are to be redeemed through such irrevocable trust, the
Company must make arrangements satisfactory to the Trustee, at the time of such
deposit, for the giving of the notice of such redemption or redemptions by the
Trustee in the name and at the expense of the Company.

(e)           In addition to the
Company’s rights above under this Section 8.01, the Company may terminate all of
its obligations under this Indenture with respect to a Series, and the
obligations of the Guarantors shall terminate with respect to such Series
(subject to Section 8.02), when:

(1)           All Securities of such
Series theretofore authenticated and delivered (other than Securities which
have been destroyed, lost or stolen and which have been replaced or paid as
provided in Section 2.07 and Securities for whose payment money has theretofore
been deposited in trust or segregated and held in trust by the Company and
thereafter repaid to the Company or discharged from such trust) have been
delivered to the Trustee for cancellation or all such Securities not
theretofore delivered to the Trustee for cancellation have become due and
payable and the Company has irrevocably deposited or caused to be deposited
with the Trustee as trust funds in trust solely for that purpose an amount of
money sufficient to pay and discharge the entire Indebtedness on the Securities
not theretofore delivered to the Trustee for cancellation, for principal of and
interest;

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

(3)           The Company has
delivered irrevocable instructions to the Trustee to apply the deposited money
toward the payment of the Securities at maturity or redemption, as the case may
be; and

(4)           The Company has
delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel,
stating that all conditions precedent specified herein relating to the
satisfaction and discharge of this Indenture have been complied with.

 31
 

Section
8.02                            Survival
of the Company’s Obligations.

Notwithstanding the satisfaction and discharge of the
Indenture under Section 8.01, the Company’s obligations in paragraph 9 of the
Securities and Sections 2.03 through 2.07, 4.01, 7.07, 7.08, 8.04 and 8.05,
however, shall survive until the Securities of an applicable Series are no
longer outstanding.  Thereafter, the
Company’s obligations in paragraph 9 of the Securities of such Series and
Sections 7.07, 8.04 and 8.05 shall survive (as they relate to such Series).

Section
8.03                            Application
of Trust Money.

The Trustee shall hold in trust money or U.S.
government obligations deposited with it pursuant to Section 8.01.  It shall apply the deposited money and the
money from U.S. government obligations in accordance with this Indenture to the
payment of principal of and interest on the Securities of the defeased Series.

Section
8.04                            Repayment
to the Company.

The Trustee and the Paying Agent shall promptly pay to
the Company upon request any excess money or securities held by them at any
time.  The Trustee and the Paying Agent
shall pay to the Company upon request any money held by them for the payment of
principal or interest that remains unclaimed for two years, 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 of general circulation in the City of New York or mail to each such
Holder 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 or mailing, any unclaimed balance of such money then remaining will
be repaid to the Company.  After payment to
the Company, Securityholders entitled to the money must look to the Company or
any Guarantor for payment as general creditors unless applicable abandoned
property law designates another person and all liability of the Trustee or such
Paying Agent with respect to such money shall cease.

Section
8.05                            Reinstatement.

If the Trustee is unable to apply any money or U.S.
government obligations in accordance with Section 8.01 by reason of any legal
proceeding or by reason of any order or judgment of any court or governmental
authority enjoining, restraining or otherwise prohibiting such application, the
Company’s and each Guarantor’s obligations under this Indenture and the
Securities relating to the Series shall be revived and reinstated as though no
deposit had occurred pursuant to Section 8.01 until such time as the Trustee is
permitted to apply all such money or U.S. government obligations in accordance
with Section 8.01; provided, however, that (a) if the Company has made any
payment of interest on or principal of any Securities of the Series because of
the reinstatement of their obligations, the Company shall be subrogated to the
rights of the Holders of such Securities to receive such payment from the money
or U.S. government obligations held by the Trustee and (b) unless otherwise
required by any legal proceeding or any order or judgment of any court or
governmental authority, the Trustee shall return all such money or U.S.
government obligations to the Company promptly after receiving a written

 32
 

request therefor at any time, if such reinstatement of
the Company’s obligations has occurred and continue to be in effect.

ARTICLE NINE

Guarantees

Section
9.01                            Unconditional
Guarantees.

Subject to any other provisions set forth in the
Authorizing Resolution or supplemental indenture relating to a particular
Series, each Guarantor hereby unconditionally, jointly and severally,
guarantees (each such guarantee to be referred to herein as the “Guarantee”) to each Holder of Securities of such Series
authenticated and delivered by the Trustee and to the Trustee and its
successors and assigns, that: (i) the principal of and interest on the
Securities of such Series will be promptly paid in full when due, subject to
any applicable grace period, whether at maturity, by acceleration or otherwise
and interest on the overdue principal, if any, and interest on any interest of
the Securities of such Series and all other obligations of the Company to the
Holders or the Trustee hereunder or thereunder, except obligations to pay principal
and interest in any other Series not so guaranteed, will be promptly paid in
full or performed, all in accordance with the terms hereof and thereof; and
(ii) in case of any ex tension of time of payment or renewal of any Securities
of such Series or of any such other obligations, the same will be promptly paid
in full when due or performed in accordance with the terms of the extension or
renewal, subject to any applicable grace period, whether at stated maturity, by
acceleration or otherwise, subject, however, in the case of clauses (i) and
(ii) above, to the limitations set forth in Section 9.04.  Each Guarantor hereby agrees that its
obligations hereunder shall be unconditional, irrespective of the validity,
regularity or enforceability of the Securities of such Series or this
Indenture, the absence of any action to enforce the same, any waiver or consent
by any Holder of the Securities of such Series with respect to any provisions
hereof or thereof, the recovery of any judgment against the Company, any action
to enforce the same or any other circumstance which might otherwise constitute
a legal or equitable discharge or defense of a guarantor.  Each Guarantor hereby waives diligence,
presentment, demand of payment, 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, notice and all demands whatsoever and
covenants that, subject to Section 9.03, this Guarantee will not be discharged
except by complete performance of the obligations contained in the Securities
of the applicable Series, this Indenture and in this Guarantee.  If any Holder or the Trustee is required by
any court or otherwise to return to the Company, any Guarantor, or any
custodian, trustee, liquidator or other similar official acting in relation to
the Company or any Guarantor, any amount paid by the Company or any Guarantor
to the Trustee or such Holder, this Guarantee, to the extent theretofore
discharged, shall be reinstated in full force and effect.  Each Guarantor further agrees that, as
between each Guarantor, on the one hand, and the Holders and the Trustee, on
the other hand, (x) the maturity of the obligations guaranteed hereby may be
accelerated as provided in Article Six for the purposes of this Guarantee,
notwithstanding any stay, injunction or other prohibition preventing such
acceleration in respect of the obligations guaranteed hereby, and (y) in the
event of any acceleration of such obligations as provided in Article Six, such
obligations (whether or not due and payable) shall forthwith become due and
payable by each Guarantor for the purpose of this Guarantee.

 33

Section
9.02                            Severability.

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

Section
9.03                            Release
of a Guarantor.

Upon the sale or disposition (whether by merger, stock
purchase, asset sale or otherwise) of a Guarantor (or all or substantially all
its assets) to an entity which is not a Restricted Subsidiary and which sale or
disposition is otherwise in compliance with the terms of this Indenture, or,
unless the Company elects otherwise, if any Guarantor is designated as an
Unrestricted Subsidiary in accordance with the terms of this Indenture, then
such Guarantor (in the event of a sale or other disposition of Capital Stock of
such Guarantor or a designation as an Unrestricted Subsidiary) or the Person
acquiring such assets (in the event of a sale or other disposition of all or
substantially all of the assets of such Guarantor) shall be deemed automatically
and unconditionally released and discharged from all obligations under this
Article Nine without any further action required on the part of the Trustee or
any Holder.

An Unrestricted Subsidiary that is a Guarantor shall
be deemed automatically and unconditionally released and discharged from all
obligations under this Article Nine upon notice from the Company to the Trustee
to such effect, without any further action required on the part of the Trustee
or any Holder.

The Trustee shall deliver an appropriate instrument
evidencing any such release upon receipt of a request by the Company
accompanied by an Officers’ Certificate and Opinion of Counsel certifying as to
the compliance with this Section 9.03.

Any Guarantor not released in accordance with this Section
9.03 remains liable for the full amount of principal of and interest on the
Securities as provided in this Article Nine.

Section
9.04                            Limitation
of a Subsidiary Guarantor’s Liability.

Each Guarantor and by its acceptance hereof each
Holder hereby confirms that it is the intention of all such parties that the
guarantee by such Guarantor pursuant to its Guarantee not constitute a
fraudulent transfer or conveyance for purposes of the Bankruptcy Law, the
Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any
similar Federal or state law.  To
effectuate the foregoing intention, the Holders and such Guarantor hereby
irrevocably agree that the obligations of such Guarantor under the Guarantee shall
be limited to the maximum amount as will, after giving effect to all other
contingent and fixed liabilities of such Guarantor and after giving effect to
any collections from or payments made by or on behalf of any other Guarantor in
respect of the obligations of such other Guarantor under its Guarantee or
pursuant to Section 9.06, result in the obligations of such Guarantor under the
Guarantee not constituting such fraudulent transfer or conveyance.

 34
 

Section
9.05                            Guarantors
May Consolidate, etc., on Certain Terms.

Nothing contained in this Indenture or in any of the
Securities shall prevent any consolidation or merger of a Guarantor with or
into the Company or another Restricted Guarantor, or shall prevent any sale of
assets or conveyance of the property of a Subsidiary Guarantor as an entirety
or substantially as an entirety to the Company or another Guarantor that is a
Restricted Subsidiary of the Company. 
Upon any such consolidation, merger, sale or conveyance, the Guarantee
given by such Guarantor shall no longer have any force or effect.

Section
9.06                            Contribution.

In order to provide for just and equitable
contribution among the Guarantors, the Guarantors agree, inter se, that in the
event any payment or distribution is made by any Guarantor (a “Funding Guarantor”) under the Guarantee, such Funding
Guarantor shall be entitled to a contribution from all other Guarantors in a
pro rata amount based on the Adjusted Net Assets of each Guarantor (including
the Funding Guarantor) for all payments, damages and expenses incurred by that
Funding Guarantor in discharging the Company’s obligations with respect to any
Securities or any other Guarantor’s obligations with respect to the
Guarantee.  “Adjusted Net
Assets” of such Guarantor at any date shall mean the lesser of the
amount by which (x) the fair value of the property of such Guarantor exceeds
the total amount of liabilities, including, without limitation, contingent
liabilities (after giving effect to all other fixed and contingent liabilities
incurred or assumed on such date and after giving effect to any collection from
any other Subsidiary of the Guarantor in respect of the obligations of its
Guarantee), but excluding liabilities under the Guarantee, of such Guarantor at
such date and (y) the present fair salable value of the assets of such Guarantor
at such date exceeds the amount that will be required to pay the probable
liability of such Guarantor on its debts (after giving effect to all other
fixed and contingent liabilities incurred or assumed on such date and after
giving effect to any collection from any other Subsidiary of the Company in
respect of the obligations of such Guarantor under its Guarantee), excluding
debt in respect of the Guarantee of such Guarantor, as they become absolute and
matured.

Section
9.07                            Waiver
of Subrogation.

Until all guaranteed obligations under this Indenture
and with respect to all Securities of an applicable Series are paid in full,
each Guarantor hereby irrevocably waives any claim or other rights which it may
now or hereafter acquire against the Company that arise from the existence,
payment, performance or enforcement of such Guarantor’s obligations under the
Guarantee and this Indenture, including, without limitation, any right of
subrogation, reimbursement, exoneration, indemnification, and any right to participate
in any claim or remedy of any Holder of Securities of the applicable Series
against the Company, whether or not such claim, remedy or right arises in
equity, or under contract, statute or common law, including, without
limitation, the right to take or receive from the Company, directly or
indirectly, in cash or other property or by set-off or in any other manner,
payment or security on account of such claim or other rights.  If any amount shall be paid to any Guarantor
in violation of the preceding sentence and the Securities of the applicable
Series shall not have been paid in full, such amount shall have been deemed to
have been paid to such Guarantor for the benefit of, and held in trust for the
benefit of, the Holders of the Securities of the applicable Series, and shall
forthwith be

 35
 

paid to the Trustee for the benefit of such Holders to
be credited and applied upon the Securities of the applicable Series, whether
matured or unmatured, in accordance with the terms of this Indenture.  Each Guarantor acknowledges that it will
receive direct and indirect benefits from the financing arrangements
contemplated by this Indenture and that the waiver set forth in this Section
9.07 is knowingly made in contemplation of such benefits.

Section
9.08                            Execution
of Guarantee.

To evidence their guarantee to the Holders set forth
in this Article Nine, the Guarantors hereby agree to execute the Guarantee in
substantially the form included in Exhibit A or in any such other form
set forth in the Authorizing Resolution or supplemental indenture pertaining to
the applicable Series, which shall be endorsed on each Security ordered to be
authenticated and delivered by the Trustee. 
Each Guarantor hereby agrees that its Guarantee set forth in this
Article Nine shall remain in full force and effect notwithstanding any failure
to endorse on each Security a notation of such Guarantee.  Each such Guarantee shall be signed on behalf
of each Guarantor by two Officers, or an Officer and an Assistant Secretary or
one Officer shall sign and one Officer or an Assistant Secretary (each of whom
shall, in each case, have been duly authorized by all requisite corporate
actions) shall attest to such Guarantee prior to the authentication of the
Security on which it is endorsed, and the delivery of such Security by the
Trustee, after the authentication thereof hereunder, shall constitute due
delivery of such Guarantee on behalf of such Guarantor.  Such signatures upon the Guarantee may be by
manual or facsimile signature of such officers and may be imprinted or
otherwise reproduced on the Guarantee, and in case any such officer who shall
have signed the Guarantee shall cease to be such officer before the Security on
which such Guarantee is endorsed shall have been authenticated and delivered by
the Trustee or disposed of by the Company, such Security nevertheless may be
authenticated and delivered or disposed of as though the person who signed the
Guarantee had not ceased to be such officer of the Guarantor.

ARTICLE TEN

Amendments, Supplements and Waivers

Section
10.01                     Without
Consent of Holders.

The Company, the Guarantors and the Trustee may amend
or supplement this Indenture or the Securities of a Series without notice to or
consent of any Securityholder of such Series:

(1)           to cure any ambiguity,
omission, defect or inconsistency;

(2)           to comply with Article
Five;

(3)           to provide that
specific provisions of this Indenture shall not apply to a Series not
previously issued;

(4)           to create a Series and
establish its terms;

 36
 

(5)           to provide for uncertificated
Securities in addition to or in place of certificated Securities;

(6)           to make any other
change that does not adversely affect the rights of Securityholders; and

(7)           to remove a Guarantor
in respect of any Series which, in accordance with the terms of this Indenture
applicable to the particular Series, ceases to be liable in respect of its
Guarantee.

After an amendment under this Section 10.01 becomes
effective, the Company shall mail notice of such amendment to the
Securityholders.

Section
10.02                     With
Consent of Holders.

The Company, the Guarantors and the Trustee may amend
or supplement this Indenture or the Securities of a Series without notice to
any Securityholder of such Series but with the written consent of the Holders
of at least a majority in principal amount of the outstanding Securities of
each such Series affected by the amendment. 
Each such Series shall vote as a separate class. The Holders of a
majority in principal amount of the outstanding Securities of any Series may
waive compliance by the Company with any provision of the Securities of such
Series or of this Indenture relating to such Series without notice to any
Securityholder.  Without the consent of
each Securityholder of a Series affected, however, an amendment, supplement or
waiver, including a waiver pursuant to Section 6.04, may not:

(1)           reduce the amount of
Securities of such Series whose Holders must consent to an amendment,
supplement or waiver;

(2)           reduce the rate of or
change the time for payment of interest, including defaulted interest, on any
Security;

(3)           reduce the principal of
or change the fixed maturity of any Security or alter the provisions (including
related definitions) with respect to redemption of Securities pursuant to
Article Three hereof or with respect to any obligations on the part of the
Company to offer to purchase or to redeem Securities of a Series pursuant to
the Authorizing Resolution or supplemental indenture pertaining to such Series;

(4)           modify the ranking or
priority of the Securities of any Series or the Guarantee thereof;

(5)           release any Guarantor
from any of its obligations under its Guarantee or this Indenture otherwise
than in accordance with the terms of this Indenture;

(6)           make any change in
Sections 6.04, 6.07 or this 10.02;

(7)           waive a continuing
Default or Event of Default in the payment of the principal of or interest on
any Security; or

 37
 

(8)           make any Security
payable at a place or in money other than that stated in the Security, or
impair the right of any Securityholder to bring suit as permitted by Section
6.07.

An amendment of a provision included solely for the
benefit of one or more Series does not affect the interests of Securityholders
of any other Series.

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

Section
10.03                     Compliance
with Trust Indenture Act.

Every amendment to or supplement of this Indenture or
the Securities shall comply with the TIA as then in effect.

Section
10.04                     Revocation
and Effect of Consents.

A consent to an amendment, supplement or waiver by a
Holder shall bind the Holder and every subsequent Holder of a Security or
portion of a Security that evidences the same debt as the consenting Holder’s
Security, even if notation of the consent is not made on any Security.  Subject to the following paragraph, any such
Holder or subsequent Holder, however, may revoke the consent as to his Security
or portion of a Security.  Such
revocation shall be effective only if the Trustee receives the notice of
revocation before the date the amendment, supplement or waiver becomes
effective.

The Company may, but shall not be obligated to, fix a
record date for the purpose of determining the Holders of Securities of any
Series entitled to consent to any amendment, supplement or waiver, which record
date shall be at least 10 days prior to the first solicitation of such
consent.  If a record date is fixed, then
notwithstanding the last sentence of the immediately preceding paragraph, those
Persons who were Holders at such record date (or their duly designated
proxies), and only those Persons, shall be entitled to revoke any consent
previously given, whether or not such Persons continue to be Holders after such
record date.  No such consent shall be
valid or effective for more than 90 days after such record date.

After an amendment, supplement or waiver becomes
effective, it shall bind every Holder, unless it makes a change described in
any of clauses (1) through (8) of Section 10.02, in which case, the amendment,
supplement or waiver shall bind only each Holder of a Security who has
consented to it and every subsequent Holder of a Security or portion of a
Security that evidences the same debt as the consenting Holder’s Security;
provided that any such waiver shall not impair or affect the right of any
Holder to receive payment of principal of and interest on a Security, on or
after the respective due dates expressed in such Security, or to bring suit for
the enforcement of any such payment on or after such respective dates without
the consent of such Holder.

Section
10.05                     Notation
on or Exchange of Securities.

If an amendment, supplement or waiver changes the
terms of a Security, the Company may require the Holder of the Security to
deliver it to the Trustee, at which time the

 38
 

Trustee shall place an appropriate notation on the
Security about the changed terms and return it to the Holder.  Alternatively, if the Company or the Trustee
so determines, the Company in exchange for the Security shall issue and the
Trustee shall authenticate a new Security that reflects the changed terms.

Section
10.06                     Trustee
to Sign Amendments, etc.

Subject to Section 7.02(b), the Trustee shall sign any
amendment, supplement or waiver authorized pursuant to this Article if the
amendment, supplement or waiver does not adversely affect the rights, duties,
liabilities or immunities of the Trustee. 
If it does, the Trustee may but need not sign it.  In signing or refusing to sign such amendment
or supplemental indenture, the Trustee shall be entitled to receive and shall
be fully protected in relying upon, an Officers’ Certificate and an Opinion of
Counsel as conclusive evidence that such amendment or supplemental indenture is
authorized or permitted by this Indenture, that it is not inconsistent
herewith, and that it will be valid and binding upon the Company in accordance
with its terms.

ARTICLE ELEVEN

Miscellaneous

Section
11.01                     Trust
Indenture Act Controls.

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

Section
11.02                     Notices.

Any order, consent, notice or communication shall be
sufficiently given if in writing and delivered in person or mailed by first
class mail, postage prepaid, addressed as follows: if to the Company or to any
Guarantor:

Nova Biosource Fuels, Inc.

2777 Allen Parkway, Suite 860

Houston, Texas 77019

Attention: President

if to the Trustee:

Attention:

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

Any notice or communication mailed to a Securityholder
shall be mailed to him by first class mail at his address as it appears on the
registration books of the Registrar and shall be sufficiently given to him if
so mailed within the time prescribed.

 39
 

Failure to mail a notice or communication to a
Securityholder or any defect in it shall not affect its sufficiency with
respect to other Securityholders.  If a
notice or communication is mailed in the manner provided above, it is duly
given, whether or not the addressee receives it except that notice to the
Trustee shall only be effective upon receipt thereof by the Trustee.

If the Company mails notice or communications to the
Securityholders, it shall mail a copy to the Trustee at the same time.

Section
11.03                     Communications
by Holders with Other Holders.

Securityholders may communicate pursuant to TIA ss.
312(b) with other Securityholders with respect to their rights under this
Indenture or the Securities.  The
Company, the Trustee, the Registrar and anyone else shall have the protection of
TIA ss. 312(c).

Section
11.04                     Certificate
and Opinion as to Conditions Precedent.

Upon any request or application by the Company to the
Trustee to take any action under this Indenture, the Company shall furnish to
the Trustee:

(1)           an Officers’
Certificate (which shall include the statements set forth in Section 11.05)
stating that, in the opinion of the signers, all conditions precedent, if any,
provided for in this Indenture relating to the proposed action have been
complied with; and

(2)           an Opinion of Counsel
(which shall include the statements set forth in Section 11.05) stating that,
in the opinion of such counsel, all such conditions precedent and covenants,
compliance with which constitutes a condition precedent, if any, provided for
in this Indenture relating to the proposed action or inaction, have been
complied with and that any such section does not conflict with the terms of the
Indenture.

Section
11.05                     Statements
Required in Certificate or Opinion.

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

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

(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 such person, 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 or not, in the opinion of such person, such condition or covenant has
been complied with.

 40
 

Section
11.06                     Rules
by Trustee and Agents.

The Trustee may make reasonable rules for action by or
a meeting of Securityholders.  The
Registrar or Paying Agent may make reasonable rules for its functions.

Section
11.07                     Legal
Holidays.

A “Legal Holiday”
is a Saturday, a Sunday, a legal holiday or a day on which banking institutions
in Houston, Texas and New York, New York are not required to be open.  If a payment date is a Legal Holiday at a
place of payment, payment may be made at that place on the next succeeding day
that is not a Legal Holiday, and no interest shall accrue for the intervening
period.  A “Business Day”
is any day other than a Legal Holiday.

Section
11.08                     Governing
Law.

This
Indenture, the Securities of each Series and the Guarantees and all disputes or
controversies arising out of or relating to this Indenture, the Securities of
each Series and the Guarantees or the transactions contemplated hereby shall be
governed by, and construed in accordance with, the internal laws of the State
of New York, without regard to the laws of any other jurisdiction that might be
applied because of principles of conflicts of laws.

Section
11.09                     No
Adverse Interpretation of Other Agreements.

This Indenture may not be used to interpret another
indenture, loan or debt agreement of the Company or a Subsidiary.  Any such indenture, loan or debt agreement
may not be used to interpret this Indenture.

Section
11.10                     No
Recourse Against Others.

All liability described in paragraph 13 of the
Securities of any director, officer, employee or stockholder, as such, of the
Company is waived and released.

Section 11.11                     Successors
and Assigns.

All covenants and agreements of the Company in this
Indenture and the Securities shall bind its successors and assigns.  All agreements of the Trustee in this
Indenture shall bind its successors and assigns.

Section
11.12                     Duplicate
Originals.

The parties may sign any number of copies of this
Indenture.  Each signed copy shall be an
original, but all of them together represent the same agreement.

Section
11.13                     Severability.

In case any one or more of the provisions contained in
this Indenture or in the Securities of a Series shall for any reason be held to
be invalid, illegal or unenforceable in any

 41
 

respect, such invalidity, illegality or
unenforceability shall not affect any other provisions of this Indenture or of
such Securities.

ARTICLE TWELVE

Subordination of
Securities

Section
12.01                     Securities
Subordinated to Senior Indebtedness.

The Company covenants and agrees, and the Trustee and
each Holder of the Securities by his acceptance thereof likewise covenant and
agree, that all Securities shall be issued subject to the provisions of this
Article Twelve; and each person holding any Security, whether upon original
issue or upon transfer, assignment or exchange thereof, accepts and agrees that
all payments of the principal of and interest on the Securities by the Company
shall, to the extent and in the manner set forth in this Article Twelve, be
subordinated and junior in right of payment to the prior payment in full in
cash of all amounts payable under Senior Indebtedness.

Section
12.02                     No
Payment on Securities in Certain Circumstances.

(a)           No direct or indirect
payment (excluding any payment or distribution of Permitted Junior Securities)
by or on behalf of the Company of principal of or interest on the Securities,
except from those funds held in trust for the benefit of Holders of any
Securities pursuant to the procedures set forth in Article Eight hereof,
whether pursuant to the terms of the Securities, upon acceleration or
otherwise, shall be made if, at the time of such payment, there exists a
default in the payment of all or any portion of the obligations on any Senior
Indebtedness, whether at maturity, on account of mandatory redemption or
prepayment, acceleration or otherwise, and such default shall not have been
cured or waived or the benefits of this sentence waived by or on behalf of the
holders of such Senior Indebtedness. In addition, during the continuance of any
non-payment event of default with respect to any Designated Senior Indebtedness
pursuant to which the maturity thereof may be immediately accelerated, and upon
receipt by the Trustee of written notice (a “Payment
Blockage Notice” ) from the holder or holders of such Designated
Senior Indebtedness or the trustee or agent acting on behalf of such Designated
Senior Indebtedness, then, unless and until such event of default has been
cured or waived or has ceased to exist or such Designated Senior Indebtedness
has been discharged or repaid in full in cash or the benefits of these
provisions have been waived by the holders of such Designated Senior
Indebtedness, no direct or indirect payment (excluding any payment or
distribution of Permitted Junior Securities) shall be made by or on behalf of
the Company of principal of or interest on the Securities, except from those funds
held in trust for the benefit of Holders of any Securities pursuant to the
procedures set forth in Article Eight hereof, to such Holders, during a period
(a “Payment Blockage Period”) commencing on
the date of receipt of such notice by the Trustee and ending 179 days
thereafter.

Notwithstanding anything herein or in the Securities
to the contrary, (x) in no event shall a Payment Blockage Period extend beyond
179 days from the date the Payment Blockage Notice in respect thereof was
given, (y) there shall be a period of at least 181 consecutive days in each
360-day period when no Payment Blockage Period is in effect and (z) not more
than one Payment Blockage Period may be commenced with respect to the
Securities

 42
 

during any period of 360 consecutive days.  No event of default that existed or was
continuing on the date of commencement of any Payment Blockage Period with
respect to the Designated Senior Indebtedness initiating such Payment Blockage
Period may be, or be made, the basis for the commencement of any other Payment
Blockage Period by the holder or holders of such Designated Senior Indebtedness
or the trustee or agent acting on behalf of such Designated Senior
Indebtedness, whether or not within a period of 360 consecutive days, unless
such event of default has been cured or waived for a period of not less than 90
consecutive days.

(b)           In the event that,
notwithstanding the foregoing, any payment shall be received by the Trustee or
any Holder when such payment is prohibited by Section 12.02(a), such payment
shall be held in trust for the benefit of, and shall be paid over or delivered
to, the holders of Senior Indebtedness (pro rata to such holders on the basis
of the respective amounts of Senior Indebtedness held by such holders) or their
respective representatives, or to the trustee or trustees under any indenture
pursuant to which any of such Senior Indebtedness may have been issued, as
their respective interests may appear, but only to the extent that, upon notice
from the Trustee to the holders of Senior Indebtedness that such prohibited
payment has been made, the holders of the Senior Indebtedness (or their
representative or representatives or a trustee) notify the Trustee in writing
of the amounts then due and owing on the Senior Indebtedness, if any, and only
the amounts specified in such notice to the Trustee shall be paid to the
holders of Senior Indebtedness.

Section
12.03                     Payment
Over of Proceeds upon Dissolution, etc.

(a)           Upon any payment or
distribution of assets or securities of the Company of any kind or character,
whether in cash, property or securities (excluding any payment or distribution
of Permitted Junior Securities), upon any dissolution or winding up or
liquidation or reorganization of the Company, whether voluntary or involuntary
or in bankruptcy, insolvency, receivership or other proceedings, all Senior
Indebtedness shall first be paid in full in cash before the Holders of the
Securities or the Trustee on behalf of such Holders shall be entitled to
receive any payment by the Company of the principal of or interest on the
Securities, or any payment by the Company to acquire any of the Securities for
cash, property or securities, or any distribution with respect to the
Securities of any cash, property or securities (excluding any payment or
distribution of Permitted Junior Securities). 
Before any payment may be made by, or on behalf of, the Company of the
principal of or interest on the Securities upon any such dissolution or winding
up or liquidation or reorganization, any payment or distribution of assets or
securities of the Company of any kind or character, whether in cash, property
or securities (excluding any payment or distribution of Permitted Junior
Securities), to which the Holders of the Securities or the Trustee on their behalf
would be entitled, but for the subordination provisions of this Indenture,
shall be made by the Company or by any receiver, trustee in bankruptcy,
liquidation trustee, agent or other Person making such payment or distribution,
directly to the holders of the Senior Indebtedness (pro rata to such holders on
the basis of the respective amounts of Senior Indebtedness held by such
holders) or their representatives or to the trustee or trustees or agent or
agents under any agreement or indenture pursuant to which any of such Senior
Indebtedness may have been issued, as their respective interests may appear, to
the extent necessary to pay all such Senior Indebtedness in full in cash after
giving effect to any prior or concurrent payment, distribution or provision
therefor to or for the holders of such Senior Indebtedness.

 43
 

(b)           In the event that,
notwithstanding the foregoing provision prohibiting such payment or
distribution, any payment or distribution of assets or securities of the
Company of any kind or character, whether in cash, property or securities
(excluding any payment or distribution of Permitted Junior Securities), shall
be received by the Trustee or any Holder of Securities at a time when such
payment or distribution is prohibited by Section 12.03(a) and before all
obligations in respect of Senior Indebtedness are paid in full in cash, or
payment provided for, such payment or distribution shall be received and held
in trust for the benefit of, and shall be paid over or delivered to, the
holders of Senior Indebtedness (pro rata to such holders on the basis of the
respective amounts of Senior Indebtedness held by such holders) or their
respective representatives, or to the trustee or trustees or agent or agents
under any indenture pursuant to which any of such Senior Indebtedness may have
been issued, as their respective interests may appear, for application to the
payment of Senior Indebtedness remaining unpaid until all such Senior
Indebtedness has been paid in full in cash after giving effect to any prior or
concurrent payment, distribution or provision therefor to or for the holders of
such Senior Indebtedness.

The consolidation of the Company with, or the merger
of the Company with or into, another corporation or the liquidation or
dissolution of the Company following the conveyance or transfer of its property
as an entirety, or substantially as an entirety, to another corporation upon
the terms and conditions provided in Article Five (or any replacement
provisions as contemplated by Article Five) shall not be deemed a dissolution,
winding up, liquidation or reorganization for the purposes of this Section
12.03 if such other corporation shall, as a part of such consolidation, merger,
conveyance or transfer, comply with the conditions stated in Article Five (or
any replacement provisions as contemplated by Article Five).

Section
12.04                     Subrogation.

Upon the payment in full of all Senior Indebtedness,
or provision for payment, the Holders of the Securities shall be subrogated to
the rights of the holders of Senior Indebtedness to receive payments or
distributions of cash, property or securities of the Company made on such
Senior Indebtedness until the principal of and interest on the Securities shall
be paid in full in cash; and, for the purposes of such subrogation, no payments
or distributions to the holders of the Senior Indebtedness of any cash,
property or securities to which the Holders of the Securities or the Trustee on
their behalf would be entitled except for the provisions of this Article Twelve,
and no payment over pursuant to the provisions of this Article Twelve to the
holders of Senior Indebtedness by Holders of the Securities or the Trustee on
their behalf shall, as between the Company, its creditors other than holders of
Senior Indebtedness, and the Holders of the Securities, be deemed to be a
payment by the Company to or on account of the Senior Indebtedness. It is
understood that the provisions of this Article Twelve are and are intended
solely for the purpose of defining the relative rights of the Holders of the
Securities, on the one hand, and the holders of the Senior Indebtedness, on the
other hand.

If any payment or distribution to which the Holders of
the Securities would otherwise have been entitled but for the provisions of
this Article Twelve shall have been applied, pursuant to the provisions of this
Article Twelve, to the payment of all amounts payable under Senior
Indebtedness, then and in such case, the Holders of the Securities shall be
entitled to receive from the holders of such Senior Indebtedness any payments
or distributions received

 44

by such holders of Senior Indebtedness in excess of
the amount required to make payment in full, or provision for payment, of such
Senior Indebtedness.

Section
12.05                     Obligations
of Company Unconditional.

Nothing contained in this Article Twelve or elsewhere
in this Indenture or in the Securities is intended to or shall impair, as among
the Company and the Holders of the Securities, the obligation of the Company,
which is absolute and unconditional, to pay to the Holders of the Securities
the principal of and interest on the Securities as and when the same shall
become due and payable in accordance with their terms, or is intended to or
shall affect the relative rights of the Holders of the Securities and creditors
of the Company other than the holders of the Senior Indebtedness, nor shall
anything herein or therein prevent the Holder of any Security or the Trustee on
their behalf from exercising all remedies otherwise permitted by applicable law
upon default under this Indenture, subject to the rights, if any, under this
Article Twelve of the holders of the Senior Indebtedness in respect of cash,
property or securities of the Company received upon the exercise of any such
remedy.  Without limiting the generality
of the foregoing, nothing contained in this Article Twelve shall restrict the
right of the Trustee or the Holders of Securities to take any action to declare
the Securities to be due and payable prior to their stated maturity pursuant to
Section 6.01 or to pursue any rights or remedies hereunder; provided, however,
that all Senior Indebtedness then due and payable shall first be paid in full
before the Holders of the Securities or the Trustee are entitled to receive any
direct or indirect payment from the Company of principal of or interest on the
Securities.

Section
12.06                     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 pursuant to the
provisions of this Article Twelve.  The
Trustee shall not be charged with knowledge of the existence of any event of
default with respect to any Senior Indebtedness or of any other facts which
would prohibit the making of any payment to or by the Trustee unless and until
the Trustee shall have received notice in writing at its corporate trust office
to that effect signed by an Officer of the Company, or by a holder of Senior
Indebtedness or trustee or agent therefor; and prior to the receipt of any such
written notice, the Trustee shall, subject to Article Seven, be entitled to
assume that no such facts exist; provided that if the Trustee shall not have
received the notice provided for in this Section 12.06 at least two Business
Days prior to the date upon which by the terms of this Indenture any moneys
shall become payable for any purpose (including, without limitation, the
payment of the principal of or interest on any Security), then, regardless of
anything herein to the contrary, the Trustee shall have full power and
authority to receive any moneys from the Company and to apply the same to the
purpose for which they were received, and shall not be affected by any notice
to the contrary which may be received by it on or after such prior date.  Nothing contained in this Section 12.06 shall
limit the right of the holders of Senior Indebtedness to recover payments as
contemplated by Section 12.03.  The
Trustee shall be entitled to rely on the delivery to it of a written notice by
a Person representing himself or itself to be a holder of any Senior
Indebtedness (or a trustee on behalf of, or other representative of, such
holder) to establish that such notice has been given by a holder of such Senior
Indebtedness or a trustee or representative on behalf of any such holder.

 45
 

In the event that the Trustee determines in good faith
that any evidence is required with respect to the right of any Person as a
holder of Senior Indebtedness to participate in any payment or distribution
pursuant to this Article Twelve, the Trustee may request such Person to furnish
evidence to the reasonable satisfaction of the Trustee as to the amount of
Senior Indebtedness 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 Twelve, 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
12.07                     Reliance
on Judicial Order or Certificate of Liquidating Agent.

Upon any payment or distribution of assets or
securities referred to in this Article Twelve, the Trustee and the Holders of
the Securities shall be entitled to rely upon any order or decree made by any
court of competent jurisdiction in which bankruptcy, dissolution, winding-up,
liquidation or reorganization proceedings are pending, or upon a certificate of
the receiver, trustee in bankruptcy, liquidating trustee, agent or other person
making such payment or distribution, delivered to the Trustee or to the Holders
of the Securities for the purpose of ascertaining the persons entitled to
participate in such distribution, the holders of the Senior Indebtedness 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 Twelve.

Section
12.08                     Trustee’s
Relation to Senior Indebtedness.

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

With respect to the holders of Senior Indebtedness,
the Trustee undertakes to perform or to observe only such of its covenants and
obligations as are specifically set forth in this Article Twelve, and no
implied covenants or obligations with respect to the holders of Senior
Indebtedness shall be read into this Indenture against the Trustee.  The Trustee shall not be deemed to owe any
fiduciary duty to the holders of Senior Indebtedness (except as provided in
Section 12.03(b)).  The Trustee shall not
be liable to any such holders if the Trustee shall in good faith mistakenly pay
over or distribute to Holders of Securities or to the Company or to any other
person cash, property or securities to which any holders of Senior Indebtedness
shall be entitled by virtue of this Article Twelve or otherwise.

Section
12.09                     Subordination
Rights Not Impaired by Acts or Omissions of the Company or Holders of Senior
Indebtedness.

No right of any present or future holders of any
Senior Indebtedness to enforce subordination as provided herein 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 of this
Indenture,

 46
 

regardless of any knowledge thereof which any such
holder may have or otherwise be charged with. 
The provisions of this Article Twelve are intended to be for the benefit
of, and shall be enforceable directly by, the holders of Senior Indebtedness.

Section
12.10                     Securityholders
Authorize Trustee To Effectuate Subordination of Securities.

Each Holder of Securities by his acceptance of such
Securities authorizes and expressly directs the Trustee on his behalf to take
such action as may be necessary or appropriate to effectuate the subordination
provided in this Article Twelve, and appoints the Trustee his attorney-in-fact
for such purposes, including, in the event of any dissolution, winding-up,
liquidation or reorganization of the Company (whether in bankruptcy,
insolvency, receivership, reorganization or similar proceedings or upon an
assignment for the benefit of creditors or otherwise) tending towards
liquidation of the business and assets of the Company, the filing of a claim
for the unpaid balance of its or his Securities in the form required in those
proceedings.

Section
12.11                     This
Article Not to Prevent Events of Default.

The failure to make a payment on account of principal
of or interest on the Securities by reason of any provision of this Article
Twelve shall not be construed as preventing the occurrence of an Event of
Default specified in clause (1) or (2) of Section 6.01.

Section
12.12                     Trustee’s
Compensation Not Prejudiced.

Nothing in this Article Twelve shall apply to amounts
due to the Trustee pursuant to other sections in this Indenture.

Section
12.13                     No
Waiver of Subordination Provisions.

Without in any way limiting the generality of Section
12.09, the holders of Senior Indebtedness 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
Twelve or the obligations hereunder of the Holders of the Securities to the
holders of Senior Indebtedness, do any one or more of the following: a) change
the manner, place or terms of payment or extend the time of payment of, or
renew or alter, Senior Indebtedness or any instrument evidencing the same or
any agreement under which Senior Indebtedness is outstanding or secured; (b)
sell, exchange, release or otherwise deal with any property pledged, mortgaged
or otherwise securing Senior Indebtedness; (c) release any Person liable in any
manner for the collection of Senior Indebtedness; and (d) exercise or refrain
from exercising any rights against the Company and any other Person.

Section
12.14                     Certain
Payments May Be Paid Prior to Dissolution.

All money and United States government obligations
properly deposited in trust with the Trustee pursuant to and in accordance with
Article Eight shall be for the sole benefit of the Holders and shall not be
subject to this Article Twelve.

 47
 

Nothing contained in this Article Twelve or elsewhere
in this Indenture shall prevent (i) the Company, except under the conditions
described in Section 12.02, from making payments of principal of and interest
on the Securities, or from depositing with the Trustee any moneys for such
payments or from effecting a termination of the Company’s and the Guarantors’
obligations under the Securities and this Indenture as provided in Article
Eight, or (ii) the application by the Trustee of any moneys deposited with it
for the purpose of making such payments of principal of on and interest on the
Securities to the holders entitled thereto unless at least two Business Days
prior to the date upon which such payment becomes due and payable, the Trustee
shall have received the written notice provided for in Section 12.02(b) or in
Section 12.06.  The Company shall give
prompt written notice to the Trustee of any dissolution, winding up,
liquidation or reorganization of the Company.

ARTICLE THIRTEEN

Subordination of Guarantee

Section
13.01                     Guarantee
Obligations Subordinated to Guarantor Senior Indebtedness.

Each Guarantor covenants and agrees, and the Trustee
and each Holder of the Securities by his acceptance thereof likewise covenant
and agree, that the Guarantee of such Guarantor shall be issued subject to the
provisions of this Article Thirteen; and each person holding any Security,
whether upon original issue or upon transfer, assignment or exchange thereof,
accepts and agrees that all payments of the principal of and interest on the
Securities pursuant to the Guarantee made by or on behalf of any Guarantor
shall, to the extent and in the manner set forth in this Article Thirteen, be
subordinated and junior in right of payment to the prior payment in full in
cash of all amounts payable under Guarantor Senior Indebtedness of such
Guarantor.

Section
13.02                     No
Payment on Guarantees in Certain Circumstances.

(a)           No direct or indirect payment
(excluding any payment or distribution of Permitted Junior Securities) by or on
behalf of any Guarantor of principal of or interest on the Securities, except
from those funds held in trust for the benefit of Holders of any Securities
pursuant to the procedures set forth in Article Eight hereof, pursuant to such
Guarantor’s Guarantee, whether pursuant to the terms of the Securities, upon
acceleration or otherwise, shall be made if, at the time of such payment, there
exists a default in the payment of all or any portion of the obligations on any
Guarantor Senior Indebtedness of such Guarantor, whether at maturity, on
account of mandatory redemption or prepayment, acceleration or otherwise, and
such default shall not have been cured or waived or the benefits of this
sentence waived by or on behalf of the holders of such Guarantor Senior
Indebtedness. In addition, during the continuance of any non-payment event of
default with respect to any Designated Guarantor Senior Indebtedness pursuant
to which the maturity thereof may be immediately accelerated, and upon receipt
by the Trustee of written notice (the “Guarantor Payment Blockage
Notice”) from the holder or holders of such Designated Guarantor
Senior Indebtedness or the trustee or agent acting on behalf of such Designated
Guarantor Senior Indebtedness, then, unless and until such event of default has
been cured or waived or has ceased to exist or such Designated Guarantor Senior
Indebtedness has been discharged or paid in full in cash or the benefits of
these provisions have been waived by

 48
 

the holders of such Designated Guarantor Senior
Indebtedness, no direct or indirect payment (excluding any payment or
distribution of Permitted Junior Securities) shall be made by or on behalf of
such Guarantor of principal or interest on the Securities, except from those
funds held in trust for the benefit of the Holders of any Securities pursuant
to the procedures set forth in Article Eight hereof to such Holders, during a
period (a “Guarantor Blockage Period”) commencing
on the date of receipt of such notice by the Trustee and ending 179 days
thereafter.

Notwithstanding anything herein or in the Securities
to the contrary, (x) in no event shall a Guarantor Blockage Period extend
beyond 179 days from the date the Guarantor Payment Blockage Notice in respect
thereof was given, (y) there shall be a period of at least 181 consecutive days
in each 360-day period when no Guarantor Blockage Period is in effect and (z)
not more than one Guarantor Blockage Period may be commenced with respect to
any Guarantor during any period of 360 consecutive days.  No event of default that existed or was
continuing on the date of commencement of any other Guarantor Blockage Period
with respect to the Designated Guarantor Senior Indebtedness initiating such
Guarantor Blockage Period may be, or be made, the basis for the commencement of
any other Guarantor Blockage Period by the holder or holders of such Designated
Guarantor Senior Indebtedness or the trustee or agent acting on behalf of such
Designated Guarantor Senior Indebtedness, whether or not within a period of 360
consecutive days, unless such event of default has been cured or waived for a
period of not less than 90 consecutive days.

(b)           In the event that, notwithstanding
the foregoing, any payment shall be received by the Trustee or any Holder when
such payment is prohibited by Section 13.02(a), such payment shall be held in
trust for the benefit of, and shall be paid over or delivered to, the holders
of such Guarantor Senior Indebtedness (pro rata to such holders on the basis of
the respective amounts of Senior Indebtedness held by such holders) or their
respective representatives, or to the trustee or trustees under any indenture
pursuant to which any of such Guarantor Senior Indebtedness may have been
issued, as their respective interests may appear, but only to the extent that,
upon notice from the Trustee to the holders of such Guarantor Senior
Indebtedness that such prohibited payment has been made, the holders of such
Guarantor Senior Indebtedness (or their representative or representatives or a
trustee) notify the Trustee in writing of the amounts then due and owing on
such Guarantor Senior Indebtedness, if any, and only the amounts specified in
such notice to the Trustee shall be paid to the holders of such Guarantor
Senior Indebtedness.

Section
13.03                     Payment
Over of Proceeds upon Dissolution, etc.

(a)           Upon any payment or distribution of
assets or securities of any Guarantor of any kind or character, whether in
cash, property or securities (excluding any payment or distribution of
Permitted Junior Securities), upon any dissolution or winding-up or liquidation
or reorganization of such Guarantor, whether voluntary or involuntary or in
bankruptcy, insolvency, receivership or other proceedings, all Guarantor Senior
Indebtedness of such Guarantor shall first be paid in full before the Holders
of the Securities or the Trustee on behalf of such Holders shall be entitled to
receive any payment by such Guarantor of the principal of or interest on the
Securities pursuant to such Guarantor’s Guarantee, or any payment to acquire
any of the Securities for cash, property or securities, or any distribution
with respect to the Securities of any cash, property or securities (excluding
any payment or distribution of Permitted Junior

 49
 

Securities). 
Before any payment may be made by, or on behalf of, any Guarantor of the
principal of or interest on the Securities upon any such dissolution or
winding-up or liquidation or reorganization, any payment or distribution of
assets or securities of such Guarantor of any kind or character, whether in
cash, property or securities (excluding any payment or distribution of
Permitted Junior Securities), to which the Holders of the Securities or the
Trustee on their behalf would be entitled, but for the subordination provisions
of this Indenture, shall be made by such Guarantor or by any receiver, trustee
in bankruptcy, liquidating trustee, agent or other Person making such payment
or distribution, directly to the holders of the Guarantor Senior Indebtedness
of such Guarantor (pro rata to such holders on the basis of the respective
amounts of such Guarantor Senior Indebtedness held by such holders) or their
representatives or to the trustee or trustees or agent or agents under any
agreement or indenture pursuant to which any of such Guarantor Senior
Indebtedness may have been issued, as their respective interests may appear, to
the extent necessary to pay all such Guarantor Senior Indebtedness in full in
cash after giving effect to any prior or concurrent payment, distribution or
provision therefor to or for the holders of such Guarantor Senior Indebtedness.

(b)           In the event that, notwithstanding
the foregoing provision prohibiting such payment or distribution, any payment
or distribution of assets or securities of any Guarantor of any kind or character,
whether in cash, property or securities (excluding any payment or distribution
of Permitted Junior Securities), shall be received by the Trustee or any Holder
of Securities at a time when such payment or distribution is prohibited by
Section 13.03(a) and before all obligations in respect of the Guarantor Senior
Indebtedness of such Guarantor are paid in full in cash, or payment provided
for, such payment or distribution shall be received and held in trust for the
benefit of, and shall be paid over or delivered to, the holders of such
Guarantor Senior Indebtedness (pro rata to such holders on the basis of the
respective amounts of such Guarantor Senior Indebtedness held by such holders)
or their respective representatives, or to the trustee or trustees or agent or
agents under any indenture pursuant to which any of such Guarantor Senior
Indebtedness may have been issued, as their respective interests may appear,
for application to the payment of such Guarantor Senior Indebtedness remaining
unpaid until all such Guarantor Senior Indebtedness has been paid in full in
cash after giving effect to any prior or concurrent payment, distribution or
provision therefor to or for the holders of such Guarantor Senior Indebtedness.

The consolidation of any Guarantor with, or the merger
of any Guarantor with or into, another corporation or the liquidation or
dissolution of any Guarantor following the conveyance or transfer of its
property as an entirety, or substantially as an entirety, to another
corporation upon the terms and conditions provided in Article Five (or any
replacement provisions as contemplated by Article Five) shall not be deemed a
dissolution, winding-up, liquidation or reorganization for the purposes of this
Section 13.03 if such other corporation shall, as a part of such consolidation,
merger, conveyance or transfer, comply with the conditions stated in Article
Five (or any replacement provisions as contemplated by Article Five).

Section
13.04                     Subrogation.

Upon the payment in full of all Guarantor Senior
Indebtedness of a Guarantor, or provision for payment, the Holders of the
Securities shall be subrogated to the rights of the holders of such Guarantor
Senior Indebtedness to receive payments or distributions of cash,

 50
 

property or securities of such Guarantor made on such
Guarantor Senior Indebtedness until the principal of and interest on the
Securities shall be paid in full in cash; and, for the purposes of such
subrogation, no payments or distributions to the holders of such Guarantor
Senior Indebtedness of any cash, property or securities to which the Holders of
the Securities or the Trustee on their behalf would be entitled except for the
provisions of this Article Thirteen, and no payment over pursuant to the
provisions of this Article Thirteen to the holders of such Guarantor Senior
Indebtedness by Holders of the Securities or the Trustee on their behalf shall,
as between such Guarantor, its creditors other than holders of such Guarantor
Senior Indebtedness, and the Holders of the Securities, be deemed to be a
payment by such Guarantor to or on account of such Guarantor Senior
Indebtedness. It is understood that the provisions of this Article Thirteen are
and are intended solely for the purpose of defining the relative rights of the
Holders of the Securities, on the one hand, and the holders of Guarantor Senior
Indebtedness of each Guarantor, on the other hand.

If any payment or distribution to which the Holders of
the Securities would otherwise have been entitled but for the provisions of
this Article Thirteen shall have been applied, pursuant to the provisions of
this Article Thirteen, to the payment of all amounts payable under Guarantor
Senior Indebtedness, then and in such case, the Holders of the Securities shall
be entitled to receive from the holders of such Guarantor Senior Indebtedness
any payments or distributions received by such holders of Guarantor Senior
Indebtedness in excess of the amount required to make payment in full, or
provision for payment, of such Guarantor Senior Indebtedness.

Section
13.05                     Obligations
of Guarantors Unconditional.

Nothing contained in this Article Thirteen or
elsewhere in this Indenture or in the Securities or the Guarantees is intended
to or shall impair, as among the Guarantors and the Holders of the Securities,
the obligation of each Guarantor, which is absolute and unconditional, to pay
to the Holders of the Securities the principal of and interest on the
Securities as and when the same shall become due and payable in accordance with
the terms of the Guarantee of such Guarantor, or is intended to or shall affect
the relative rights of the Holders of the Securities and creditors of any
Guarantor other than the holders of Guarantor Senior Indebtedness of such
Guarantor, nor shall anything herein or therein prevent the Holder of any
Security or the Trustee on their behalf from exercising all remedies otherwise
permitted by applicable law upon default under this Indenture, subject to the
rights, if any, under this Article Thirteen of the holders of Guarantor Senior
Indebtedness in respect of cash, property or securities of any Guarantor
received upon the exercise of any such remedy.

Without limiting the generality of the foregoing,
nothing contained in this Article Thirteen shall restrict the right of the
Trustee or the Holders of Securities to take any action to declare the
Securities to be due and payable prior to their stated maturity pursuant to
Section 6.01 or to pursue any rights or remedies hereunder; provided, however,
that all Guarantor Senior Indebtedness of any Guarantor then due and payable
shall first be paid in full before the Holders of the Securities or the Trustee
are entitled to receive any direct or indirect payment from such Guarantor of
principal of or interest on the Securities pursuant to such Guarantor’s
Guarantee.

 51
 

Section
13.06                     Notice
to Trustee.

The Company and each Guarantor shall give prompt
written notice to the Trustee of any fact known to the Company or such
Guarantor which would prohibit the making of any payment to or by the Trustee
in respect of the Securities pursuant to the provisions of this Article
Thirteen.  The Trustee shall not be
charged with knowledge of the existence of any event of default with respect to
any Guarantor Senior Indebtedness or of any other facts which would prohibit
the making of any payment to or by the Trustee unless and until the Trustee
shall have received notice in writing at its corporate trust office to that
effect signed by an Officer of the Company or such Guarantor, or by a holder of
Guarantor Senior Indebtedness or trustee or agent therefor; and prior to the
receipt of any such written notice, the Trustee shall, subject to Article
Seven, be entitled to assume that no such facts exist; provided that if the
Trustee shall not have received the notice provided for in this Section 13.06
at least two Business Days prior to the date upon which by the terms of this
Indenture any moneys shall become payable for any purpose (including, without
limitation, the payment of the principal of or interest on any Security), then,
regardless of anything herein to the contrary, the Trustee shall have full
power and authority to receive any moneys from any Guarantor and to apply the
same to the purpose for which they were received, and shall not be affected by
any notice to the contrary which may be received by it on or after such prior
date.  Nothing contained in this Section
13.06 shall limit the right of the holders of Guarantor Senior Indebtedness to
recover payments as contemplated by Section 13.03.  The Trustee shall be entitled to rely on the
delivery to it of a written notice by a Person representing himself or itself
to be a holder of any Guarantor Senior Indebtedness (or a trustee on behalf of,
or other representative of, such holder) to establish that such notice has been
given by a holder of such Guarantor Senior Indebtedness or a trustee or
representative on behalf of any such holder.

In the event that the Trustee determines in good faith
that any evidence is required with respect to the right of any Person as a
holder of Guarantor Senior Indebtedness to participate in any payment or
distribution pursuant to this Article Thirteen, the Trustee may request such
Person to furnish evidence to the reasonable satisfaction of the Trustee as to
the amount of Guarantor Senior Indebtedness 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
Thirteen, 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
13.07                     Reliance
on Judicial Order or Certificate of Liquidating Agent.

Upon any payment or distribution of assets or
securities of a Guarantor referred to in this Article Thirteen, the Trustee and
the Holders of the Securities shall be entitled to rely upon any order or
decree made by any court of competent jurisdiction in which bankruptcy,
dissolution, winding-up, liquidation or reorganization proceedings are pending,
or upon a certificate of the receiver, trustee in bankruptcy, liquidating
trustee, agent or other person making such payment or distribution, delivered
to the Trustee or to the Holders of the Securities for the purpose of
ascertaining the persons entitled to participate in such distribution, the
holders of Guarantor Senior Indebtedness of such Guarantor and other
indebtedness of such 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 Thirteen.

 52
 

Section
13.08                     Trustee’s
Relation to Guarantor Senior Indebtedness.

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

With respect to the holders of Guarantor Senior
Indebtedness, the Trustee undertakes to perform or to observe only such of its
covenants and obligations as are specifically set forth in this Article
Thirteen, and no implied covenants or obligations with respect to the holders
of Guarantor Senior Indebtedness shall be read into this Indenture against the
Trustee.  The Trustee shall not be deemed
to owe any fiduciary duty to the holders of Guarantor Senior Indebtedness
(except as provided in Section 13.03(b)). 
The Trustee shall not be liable to any such holders if the Trustee shall
in good faith mistakenly pay over or distribute to Holders of Securities or to
the Company or to any other person cash, property or securities to which any
holders of Guarantor Senior Indebtedness shall be entitled by virtue of this
Article Thirteen or otherwise.

Section
13.09                     Subordination
Rights Not Impaired by Acts or Omissions of the Guarantors or Holders of Guarantor
Senior Indebtedness.

No right of any present or future holders of any
Guarantor Senior Indebtedness to enforce subordination as provided herein shall
at any time in any way be prejudiced or impaired by any act or failure to act
on the part of any Guarantor or by any act or failure to act, in good faith, by
any such holder, or by any noncompliance by any Guarantor with the terms of
this Indenture, regardless of any knowledge thereof which any such holder may
have or otherwise be charged with.  The provisions
of this Article Thirteen are intended to be for the benefit of, and shall be
enforceable directly by, the holders of Guarantor Senior Indebtedness.

Section
13.10                     Securityholders
Authorize Trustee to Effectuate Subordination of Guarantee.

Each Holder of Securities by his acceptance of such
Securities authorizes and expressly directs the Trustee on his behalf to take
such action as may be necessary or appropriate to effectuate the subordination
provided in this Article Thirteen, and appoints the Trustee his
attorney-in-fact for such purposes, including, in the event of any dissolution,
winding-up, liquidation or reorganization of any Guarantor (whether in
bankruptcy, insolvency, receivership, reorganization or similar proceedings or
upon an assignment for the benefit of creditors or otherwise) tending towards
liquidation of the business and assets of such Guarantor, the filing of a claim
for the unpaid balance of its or his Securities in the form required in those
proceedings.

Section
13.11                     This
Article Not to Prevent Events of Default.

The failure to make a payment on account of principal
of or interest on the Securities by reason of any provision of this Article
Thirteen shall not be construed as preventing the occurrence of an Event of
Default specified in clauses (1) or (2) of Section 6.01.

 53
 

Section
13.12                     Trustee’s
Compensation Not Prejudiced.

Nothing in this Article Thirteen shall apply to
amounts due to the Trustee pursuant to other Sections in this Indenture.

Section
13.13                     No
Waiver of Guarantee Subordination Provisions.

Without in any way limiting the generality of Section
13.09, the holders of Guarantor Senior Indebtedness 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 Thirteen or the obligations hereunder of the Holders of the
Securities to the holders of Guarantor Senior Indebtedness, do any one or more
of the following:

(a)           change the manner, place or terms of
payment or extend the time of payment of, or renew or alter, Guarantor Senior
Indebtedness or any instrument evidencing the same or any agreement under which
Guarantor Senior Indebtedness is outstanding or secured;

(b)           sell, exchange, release or otherwise
deal with any property pledged, mortgaged or otherwise securing Guarantor
Senior Indebtedness;

(c)           release any Person liable in any
manner for the collection of Guarantor Senior Indebtedness; and

(d)           exercise or refrain from exercising
any rights against any Guarantor and any other Person.

Section
13.14                     Certain
Payments May Be Paid Prior to Dissolution.

Nothing contained in this Article Thirteen or
elsewhere in this Indenture shall prevent (i) a Guarantor, except under the
conditions described in Section 13.02, from making payments of principal of and
interest on the Securities, or from depositing with the Trustee any moneys for
such payments, or (ii) the application by the Trustee of any moneys deposited
with it for the purpose of making such payments of principal of and interest on
the Securities, to the holders entitled thereto unless at least two Business
Days prior to the date upon which such payment becomes due and payable, the
Trustee shall have received the written notice provided for in Section 13.02(b)
or in Section 13.06.  A Guarantor shall
give prompt written notice to the Trustee of any dissolution, winding up,
liquidation or reorganization of such Guarantor.

 54
 

SIGNATURES

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

	
  Dated:

  	
   

  	
   

  	
  NOVA BIOSOURCE FUELS, INC.:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Dated:

  	
   

  	
   

  	
  [LIST OF GUARANTORS]:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Dated:

  	
   

  	
   

  	
                              ,
  as Trustee

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

(SEAL)

 55

EXHIBIT
A

No.                                                                                                                                                                                                                                                                                                                                                                                  CUSIP
No.: 

[Title of
Security]

NOVA BIOSOURCE FUELS, INC.,
a Nevada corporation, promises to pay to or registered assigns the principal
sum of                                                  
[Dollars](1) on

[Title of Security]

Interest Payment, Dates:  and

Record Dates: and

Authenticated:                                                                     Dated:

	
  

  	
  NOVA BIOSOURCE FUELS, INC.:

  (Seal)

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  

 

                                     ,
as Trustee, certifies that this is one of the Securities referred to in the
within mentioned Indenture.

	
  By:

  	
   

  	
   

  
	
   

  	
  Authorized Signatory

  

 

(1) Or other currency.  Insert
corresponding provisions on reverse side of Security in respect of foreign
currency denomination or interest payment requirement.

 

 56
 

NOVA
BIOSOURCE FUELS, INC.

[Title of Security]

1.                                      Interest.

NOVA BIOSOURCE FUELS,
INC. (the “Company”), a Nevada corporation,
promises to pay interest on the principal amount of this Security at the rate
per annum shown above.  The Company will
pay interest semiannually on                                     
and                             
of each year until the principal is paid or made available for payment.  Interest on the Securities will accrue from
the most recent date to which interest has been paid or duly provided for or,
if no interest has been paid, from                               ,
20    , provided that, if there is no existing default in
the payment of interest, and if this Security is authenticated between a record
date referred to on the face hereof and the next succeeding interest payment
date, interest shall accrue from such interest payment date.  Interest will be computed on the basis of a
360-day year of twelve 30-day months.

2.                                      Method
of Payment.

The Company will pay interest on the Securities
(except defaulted interest, if any, which will be paid on such special payment
date to Holders of record on such special record date as may be fixed by the
Company) to the persons who are registered Holders of Securities at the close
of business on the [Insert record dates]. 
Holders must surrender Securities to a Paying Agent to collect principal
payments.  The Company will pay principal
and interest in money of the United States that at the time of payment is legal
tender for payment of public and private debts.

3.                                      Paying
Agent and Registrar.

Initially,                                               
(the “Trustee”) will act as Paying Agent and
Registrar.  The Company may change or
appoint any Paying Agent, Registrar or co-Registrar without notice.  The Company or any of its Subsidiaries may
act as Paying Agent, Registrar or co-Registrar.

4.                                      Indenture.

The Company issued the Securities under an Indenture
dated as of                           ,
         (“Indenture”)
among the Company, the Guarantors and the Trustee.  The terms of the Securities and the
Guarantees include those stated in the Indenture (including those terms set
forth in the Authorizing Resolution or supplemental indenture pertaining to the
Securities of the Series of which this Security is a part) and those made part
of the Indenture by reference to the Trust Indenture Act of 1939 (“TIA”) as in effect on the date of the Indenture.  The Securities and the Guarantees are subject
to all such terms, and Securityholders are referred to the Indenture and the
Act for a statement of them.

The Company will furnish to any Securityholder upon
written request and without charge a copy of the Indenture and the applicable
Authorizing Resolution or supplemental indenture.  Requests may be made to: Nova Biosource
Fuels, Inc., 2777 Allen Parkway, Suite 860, Houston, Texas 77019, Attention:
President.

 57
 

5.                                      Optional
Redemption.(1)

The Company may redeem the Securities at any time on
or after                            ,
         , in whole or in part, at
the following redemption prices (expressed as a percentage of their principal
amount) together with interest accrued and unpaid to the date fixed for
redemption:

If redeemed during the Twelve-Month period commencing
on                           
and ending on                           
in each of the following years Percentage [Insert provisions relating to
redemption at option of Holders, if any]

Notice of redemption will be mailed at least 30 days
but not more than 60 days before the redemption date to each Holder of
Securities to be redeemed at his registered address. Securities in
denominations larger than $1,000 may be redeemed in part.  On and after the redemption date interest ceases
to accrue on Securities or portions of them called for redemption, provided
that if the Company shall default in the payment of such Security at the
redemption price together with accrued interest, interest shall continue to
accrue at the rate borne by the Securities.

6.                                      Mandatory
Redemption.(2)

The Company shall redeem % of the aggregate principal
amount of Securities originally issued under the Indenture on each of, which
redemptions are calculated to retire % of the Securities originally issued
prior to maturity.  Such redemptions
shall be made at a redemption price equal to 100% of the principal amount
thereof, together with accrued interest to the redemption date.  The Company may reduce the principal amount
of Securities to be redeemed pursuant to this Paragraph 6 by the principal
amount of any Securities previously redeemed, retired or acquired, otherwise
than pursuant to this Paragraph 6, that the Company has delivered to the
Trustee for cancellation and not previously credited to the Company’s
obligations under this Paragraph 6.

Each such Security shall be received and credited for
such purpose by the Trustee at the redemption price and the amount of such
mandatory redemption payment shall be reduced accordingly.

7.                                      Denominations,
Transfer, Exchange.

The Securities are in registered form without coupons
in denominations of $1,000 and integral multiples of $1,000.  A Holder may transferor exchange Securities
by presentation of such Securities to the Registrar or a co-Registrar with a
request to register the transfer or to exchange them for an equal principal
amount of Securities of other denominations. 
The Registrar may require a Holder, among other things, to furnish
appropriate endorsements and transfer documents and to pay any taxes and fees
required by law or permitted by the Indenture. 
The Registrar need not transfer or exchange any Security selected for
redemption, except the unredeemed part thereof if the Security is redeemed in
part, or transfer or exchange any Securities for a period of 15 days before a
selection of Securities to be redeemed.

(1) If
applicable [Insert provisions relating to redemption at option of Holders, if
any]

(2) If applicable. 
Insert different or additional denomination and multiples. 

 58
 

8.                                      Persons
Deemed Owners.

The registered Holder of this Security shall be
treated as the owner of it for all purposes.

9.                                      Unclaimed
Money.

If money for the payment of principal or interest
remains unclaimed for two years, the Trustee or Paying Agent will pay the money
back to the Company at its request. 
After that, Holders entitled to the money must look to the Company for
payment unless an abandoned property law designates another person.

10.                               Amendment,
Supplement, Waiver.

Subject to certain exceptions, the Indenture or the
Securities may be amended or supplemented with the consent of the Holders of at
least a majority in principal amount of the outstanding Securities of each
Series affected by the amendment, and any past default or compliance with any
provision relating to any Series of the Securities may be waived in a particular
instance with the consent of the Holders of a majority in principal amount of
the outstanding Securities of such Series.(3) Without the consent of any
Securityholder, the Company and the Trustee may amend or supplement the
Indenture or the Securities to cure any ambiguity, defect or inconsistency, to
provide for uncertificated Securities in addition to or in place of
certificated Securities, to create a Series and establish its terms, to remove
a Guarantor in respect of any Series which, in accordance with the terms of the
Indenture, ceases to be liable in respect of its Guarantee, or to make any
other change, provided such action does not adversely affect the rights of any
Securityholder.

11.                               Successor
Corporation.

When a successor corporation assumes all the
obligations of its predecessor under the Securities and the Indenture, the
predecessor corporation will be released from those obligations.

12.                               Trustee
Dealings With Company.

                                                                         ,
the Trustee under the Indenture, in its individual or any other capacity, may
make loans to, accept deposits from, and perform services for the Company or
its affiliates, and may otherwise deal with the Company or its affiliates, as
if it were not Trustee.

13.                               No
Recourse Against Others.

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

(3) If different terms apply, insert a brief summary
thereof.

 

 59
 

Securityholder by accepting a Security waives and
releases all such liability.  The waiver
and release are part of the consideration for the issue of the Securities.

14.                               Discharge
of Indenture.

The Indenture contains certain provisions pertaining
to defeasance, which provisions shall for all purposes have the same effect as
if set forth herein.

15.                               Authentication.

This Security shall not be valid until the Trustee
signs the certificate of authentication on the other side of this Security.

16.                               Abbreviations.

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

 60
 

ASSIGNMENT
FORM

	
  If you the Holder want to
  assign this Security, fill in the form below:

  
	
   

  
	
  I or we assign
  and transfer this Security to

  
	
   

  
	
   

  
	
   

  
	
  (Insert assignee’s social security or tax ID number)

  
	
   

  
	
   

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

  
	
   

  
	
  and irrevocably appoint

  
	
   

  
	
   

  
	
  agent to transfer this Security on the books of the Company.  

  
	
   

  
	
  The agent may substitute another to act for him or her.

  
	
   

  
	
   

  
	
  Date:

  	
   

  	
   

  	
  Your signature:

  	
   

  	
   

  
	
   

  	
  (Sign exactly as your name appears on the

  other side of this Security)

  
	
   

  
	
   

  
	
  Signature Guarantee:

  	
   

  	
   

  
								

 

 61
 

[FORM OF
NOTATION ON SECURITY RELATING TO GUARANTEE]

GUARANTEE

[List of Guarantors] (the “Guarantors”)
have unconditionally guaranteed, jointly and severally (such guarantee by each
Guarantor being referred to herein as the “Guarantee”) (i)
the due and punctual payment of the principal of and interest on the
Securities, whether at maturity, by acceleration or otherwise, the due and
punctual payment of interest on the overdue principal and interest, if any, on
the Securities, to the extent lawful, and the due and punctual performance of
all other obligations of the Company to the Holders or the Trustee all in
accordance with the terms set forth in Article Nine of the Indenture and (ii)
in case of any extension of time of payment or renewal of any Securities or any
of such other obligations, that the same will be promptly paid in full when due
or performed in accordance with the terms of the extension or renewal, whether
at stated maturity, by acceleration or otherwise.

No past, present or future stockholder, officer,
director, employee or incorporator, as such, of any of the Guarantors shall
have any liability under the Guarantee by reason of such person’s status as
stockholder, officer, director, employee or incorporator.  Each holder of a Security by accepting a
Security waives and releases all such liability.  This waiver and release are part of the
consideration for the issuance of the Guarantees.  Each holder of a Security by accepting a
Security agrees that any Guarantor named below shall have no further liability
with respect to its Guarantee if such Guarantor otherwise ceases to be liable
in respect of its Guarantee in accordance with the terms of the Indenture.

The Guarantee shall not
be valid or obligatory for any purpose until the certificate of authentication
on the Securities upon which the Guarantee is noted shall have been executed by
the Trustee under the Indenture by the manual signature of one of its
authorized officers.

	
  

  	
  [LIST OF GUARANTORS]:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  

 

 62

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00123-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00123-of-00352.parquet"}]]