Document:

exv4w13

Exhibit 4.13

 

 

WILLIS NORTH AMERICA INC.,

Issuer

WILLIS
GROUP HOLDINGS PUBLIC LIMITED COMPANY

WILLIS
NETHERLANDS HOLDINGS, B.V.

WILLIS INVESTMENT UK HOLDINGS LIMITED

TA I LIMITED

TA II LIMITED

TA III LIMITED

TRINITY ACQUISITION PLC

TA IV LIMITED

WILLIS GROUP LIMITED,

Guarantors

and

THE BANK OF NEW YORK MELLON,

Trustee

 

Indenture

Dated as of

 

Senior Subordinated Debt Securities

 

 

 

 

Table of Contents

	 	 	 	 	 
	 	 	Page
	RECITALS OF THE ISSUER
	 	 	1	 
	 
	 	 	 	 
	ARTICLE ONE

	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

	 
	 	 	 	 
	SECTION 1.01      Definitions
	 	 	1	 
	SECTION 1.02      Compliance Certificates and Opinions
	 	 	9	 
	SECTION 1.03      Form of Documents Delivered to Trustee
	 	 	9	 
	SECTION 1.04      Acts of Holders
	 	 	10	 
	SECTION 1.05      Notices, etc. to Trustee and Issuer
	 	 	10	 
	SECTION 1.06      Notice to Holders; Waiver
	 	 	11	 
	SECTION 1.07      Conflict with Trust Indenture Act
	 	 	11	 
	SECTION 1.08      Effect of Headings and Table of Contents
	 	 	11	 
	SECTION 1.09      Successors and Assigns
	 	 	11	 
	SECTION 1.10      Separability Clause
	 	 	12	 
	SECTION 1.11      Benefits of Indenture
	 	 	12	 
	SECTION 1.12      Governing Law; Waiver of Trial by Jury
	 	 	12	 
	SECTION 1.13      Legal Holidays
	 	 	12	 
	 
	 	 	 	 
	ARTICLE TWO

	SECURITY FORMS

	 
	 	 	 	 
	SECTION 2.01      Forms Generally
	 	 	12	 
	SECTION 2.02      Form of Trustee’s Certificate of Authentication
	 	 	13	 
	SECTION 2.03      Securities in Global Form
	 	 	13	 
	 
	 	 	 	 
	ARTICLE THREE

	THE SECURITIES

	 
	 	 	 	 
	SECTION 3.01      Amount Unlimited; Issuable in Series
	 	 	13	 
	SECTION 3.02      Denominations
	 	 	15	 
	SECTION 3.03      Execution, Authentication, Delivery and Dating
	 	 	15	 
	SECTION 3.04      Temporary Securities
	 	 	16	 
	SECTION 3.05      Registration, Registration of Transfer and
Exchange Global Securities Representing the
Securities
	 	 	17	 
	SECTION 3.06      Mutilated, Destroyed, Lost and Stolen Securities
	 	 	19	 
	SECTION 3.07      Payment of Interest; Interest Rights Preserved
	 	 	19	 
	SECTION 3.08      Persons Deemed Owners
	 	 	20	 
	SECTION 3.09      Cancellation
	 	 	21	 
	SECTION 3.10      Computation of Interest
	 	 	21	 
	SECTION 3.11      CUSIP Numbers
	 	 	21	 
	ARTICLE FOUR

	SUBORDINATION OF SECURITIES

	 
	 	 	 	 
	SECTION 4.01      Agreement To Subordinate
	 	 	21	 
	SECTION 4.02      Liquidation, Dissolution, Bankruptcy
	 	 	22	 
	SECTION 4.03      Default on Senior Indebtedness
	 	 	22	 

i

 

	 	 	 	 	 
	 	 	Page
	SECTION 4.04      Acceleration of Payment of Securities
	 	 	22	 
	SECTION 4.05      When Distribution Must Be Paid Over
	 	 	23	 
	SECTION 4.06      Subrogation
	 	 	23	 
	SECTION 4.07      Relative Rights
	 	 	23	 
	SECTION 4.08      Subordination May Not Be Impaired by Issuer
	 	 	23	 
	SECTION 4.09      Rights of Trustee and Paying Agent
	 	 	23	 
	SECTION 4.10      Distribution or Notice to Representative
	 	 	24	 
	SECTION 4.11      Article Four Not to Prevent Events of Default or Limit Right to Accelerate
	 	 	24	 
	SECTION 4.12      Trust Moneys Not Subordinated
	 	 	24	 
	SECTION 4.13      Trustee Entitled to Rely
	 	 	24	 
	SECTION 4.14      Trustee to Effectuate Subordination
	 	 	24	 
	SECTION 4.15      Trustee Not Fiduciary for Holders of Senior Indebtedness
	 	 	25	 
	SECTION 4.16      Reliance by Holders of Senior Indebtedness on Subordination Provisions
	 	 	25	 
	SECTION 4.17      Trustee’s Compensation Not Prejudiced
	 	 	25	 
	SECTION 4.18      Defeasance
	 	 	25	 
	 
	 	 	 	 
	ARTICLE FIVE

	SATISFACTION AND DISCHARGE; DEFEASANCE

	 
	 	 	 	 
	SECTION 5.01      Satisfaction and Discharge of Securities of any Series
	 	 	25	 
	SECTION 5.02      Option to Effect Legal Defeasance or Covenant Defeasance
	 	 	26	 
	SECTION 5.03      Legal Defeasance and Discharge
	 	 	26	 
	SECTION 5.04      Covenant Defeasance
	 	 	27	 
	SECTION 5.05      Conditions to Legal or Covenant Defeasance
	 	 	27	 
	SECTION 5.06      Survival of Certain Obligations
	 	 	28	 
	SECTION 5.07      Application of Trust Money
	 	 	28	 
	SECTION 5.08      Repayment of Moneys Held by Paying Agent
	 	 	29	 
	SECTION 5.09      Reinstatement
	 	 	29	 
	ARTICLE SIX

	REMEDIES OF THE TRUSTEE AND HOLDERS ON EVENT OF DEFAULT

	 
	 	 	 	 
	SECTION 6.01      Events of Default
	 	 	29	 
	SECTION 6.02      Acceleration of Maturity; Rescission and Annulment
	 	 	30	 
	SECTION 6.03      Collection of Indebtedness and Suits for Enforcement by Trustee
	 	 	31	 
	SECTION 6.04      Trustee May File Proofs of Claim
	 	 	32	 
	SECTION 6.05      Trustee May Enforce Claims without Possession of Securities
	 	 	32	 
	SECTION 6.06      Application of Money Collected
	 	 	32	 
	SECTION 6.07      Limitation on Suits
	 	 	33	 
	SECTION 6.08      Unconditional Right of Holders to Receive Principal, Premium and Interest
	 	 	33	 
	SECTION 6.09      Restoration of Rights and Remedies
	 	 	33	 
	SECTION 6.10      Rights and Remedies Cumulative
	 	 	33	 
	SECTION 6.11      Delay or Omission Not Waiver
	 	 	34	 
	SECTION 6.12      Control by Holders
	 	 	34	 
	SECTION 6.13      Waiver of Past Defaults
	 	 	34	 
	SECTION 6.14      Undertaking for Costs
	 	 	34	 
	SECTION 6.15      Waiver of Stay or Extension Laws
	 	 	34	 

ii

 

	 	 	 	 	 
	 	 	Page
	ARTICLE SEVEN

	THE TRUSTEE

	 
	 	 	 	 
	SECTION 7.01      Certain Duties and Responsibilities
	 	 	35	 
	SECTION 7.02      Notice of Defaults
	 	 	36	 
	SECTION 7.03      Certain Rights of Trustee
	 	 	36	 
	SECTION 7.04      Not Responsible for Recitals or Issuance of Securities
	 	 	37	 
	SECTION 7.05      May Hold Securities
	 	 	37	 
	SECTION 7.06      Money Held in Trust
	 	 	37	 
	SECTION 7.07      Compensation and Reimbursement
	 	 	37	 
	SECTION 7.08      Disqualification; Conflicting Interests
	 	 	38	 
	SECTION 7.09      Corporate Trustee Required; Eligibility
	 	 	38	 
	SECTION 7.10      Resignation and Removal; Appointment of Successor
	 	 	38	 
	SECTION 7.11      Acceptance of Appointment by Successor
	 	 	40	 
	SECTION 7.12      Merger, Conversion, Consolidation or Succession to Business
	 	 	40	 
	SECTION 7.13      Preferential Collection of Claims Against Issuer
	 	 	41	 
	 
	 	 	 	 
	ARTICLE EIGHT

	HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND ISSUER

	 
	 	 	 	 
	SECTION 8.01      Issuer to Furnish Trustee Names and Addresses of Holders
	 	 	41	 
	SECTION 8.02      Preservation of Information; Communications to Holders
	 	 	41	 
	SECTION 8.03      Reports by Trustee to Holders
	 	 	41	 
	 
	 	 	 	 
	ARTICLE NINE

	CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

	 
	 	 	 	 
	SECTION 9.01      Merger, Consolidation, etc. Only on Certain Terms
	 	 	42	 
	SECTION 9.02      Successor Corporation Substituted
	 	 	42	 
	 
	 	 	 	 
	ARTICLE TEN

	SUPPLEMENTAL INDENTURES

	 
	 	 	 	 
	SECTION 10.01      Supplemental Indentures without Consent of Holders
	 	 	43	 
	SECTION 10.02      Supplemental Indentures with Consent of Holders
	 	 	44	 
	SECTION 10.03      Execution of Supplemental Indentures
	 	 	44	 
	SECTION 10.04      Effect of Supplemental Indentures
	 	 	45	 
	SECTION 10.05      Conformity with Trust Indenture Act
	 	 	45	 
	SECTION 10.06      Reference in Securities to Supplemental Indentures
	 	 	45	 
	SECTION 10.07      Notice of Supplemental Indenture
	 	 	45	 
	 
	 	 	 	 
	ARTICLE ELEVEN

	COVENANTS

	 
	 	 	 	 
	SECTION 11.01      Payment of Principal, Premium and Interest
	 	 	45	 
	SECTION 11.02      Maintenance of Office or Agency
	 	 	45	 
	SECTION 11.03      Money for Securities Payments to Be Held in Trust
	 	 	46	 
	SECTION 11.04      Corporate Existence
	 	 	47	 
	SECTION 11.05      Payment of Taxes and Other Claims
	 	 	47	 
	SECTION 11.06      Maintenance of Properties
	 	 	47	 
	SECTION 11.07      Waiver of Certain Covenants
	 	 	47	 

iii

 

	 	 	 	 	 
	 	 	Page
	SECTION 11.08      Statement by Officers as to Default
	 	 	47	 
	SECTION 11.09      Reports by Parent Guarantor
	 	 	48	 
	SECTION 11.10      Further Assurances
	 	 	48	 
	 
	 	 	 	 
	ARTICLE TWELVE

	REDEMPTION OF SECURITIES

	 
	 	 	 	 
	SECTION 12.01      Applicability of Article
	 	 	49	 
	SECTION 12.02      Election to Redeem; Notice to Trustee
	 	 	49	 
	SECTION 12.03      Selection by Trustee of Securities to Be Redeemed
	 	 	49	 
	SECTION 12.04      Notice of Redemption
	 	 	49	 
	SECTION 12.05      Deposit of Redemption Price
	 	 	50	 
	SECTION 12.06      Securities Payable on Redemption Date
	 	 	50	 
	SECTION 12.07      Securities Redeemed in Part
	 	 	50	 
	SECTION 12.08      Securities No Longer Outstanding After Notice to Trustee and Deposit of Cash
	 	 	51	 
	 
	 	 	 	 
	ARTICLE THIRTEEN

	SINKING FUNDS

	 
	 	 	 	 
	SECTION 13.01      Applicability of Article
	 	 	51	 
	SECTION 13.02      Satisfaction of Sinking Fund Payments with Securities
	 	 	51	 
	SECTION 13.03      Redemption of Securities for Sinking Fund
	 	 	51	 
	 
	 	 	 	 
	ARTICLE FOURTEEN

	IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS

	 
	 	 	 	 
	SECTION 14.01      Exemption from Individual Liability
	 	 	52	 
	 
	 	 	 	 
	ARTICLE FIFTEEN

	MEETINGS OF HOLDERS OF SECURITIES

	 
	 	 	 	 
	SECTION 15.01      Purposes of Meetings
	 	 	52	 
	SECTION 15.02      Call of Meetings by Trustee
	 	 	52	 
	SECTION 15.03      Call of Meetings by Issuer or Holders
	 	 	53	 
	SECTION 15.04      Qualification for Voting
	 	 	53	 
	SECTION 15.05      Quorum; Adjourned Meetings
	 	 	53	 
	SECTION 15.06      Regulations
	 	 	54	 
	SECTION 15.07      Voting Procedure
	 	 	54	 
	SECTION 15.08      Written Consent in Lieu of Meetings
	 	 	55	 
	SECTION 15.09      No Delay of Rights by Meeting
	 	 	55	 
	 
	 	 	 	 
	ARTICLE SIXTEEN

	GUARANTEE OF SECURITIES

	 
	 	 	 	 
	SECTION 16.01      Guarantee
	 	 	55	 
	SECTION 16.02      Limitation on Liability
	 	 	57	 
	SECTION 16.03      Successors and Assigns
	 	 	57	 
	SECTION 16.04      No Waiver
	 	 	57	 
	SECTION 16.05      Modification
	 	 	57	 
	 
	 	 	 	 
	ARTICLE SEVENTEEN

	MISCELLANEOUS

	 
	 	 	 	 
	SECTION 17.01      Counterparts
	 	 	58	 

iv

 

Reconciliation and Tie of this Indenture,

relating to Sections 310 through 318, inclusive, of the

Trust Indenture Act of 1939, as amended

	 	 	 	 	 
	Trust Indenture Act Section	 	Indenture Section
	310

	 	(a)(1)
	 	7.09 
	 

	 	(a)(2)
	 	7.09 
	 

	 	(a)(3)
	 	Not applicable
	 

	 	(a)(4)
	 	Not applicable
	 

	 	(b)
	 	7.08, 7.10 
	311

	 	(a)
	 	7.13(a) 
	 

	 	(b)
	 	7.13(b) 
	312

	 	(a)
	 	8.01, 8.02(a) 
	 

	 	(b)
	 	8.02(b) 
	 

	 	(c)
	 	8.02(c) 
	313

	 	(a)
	 	8.03 
	 

	 	(b)
	 	8.03 
	 

	 	(c)
	 	8.03 
	 

	 	(d)
	 	8.03 
	314

	 	(a)
	 	11.09 
	 

	 	(a)(4)
	 	11.08 
	 

	 	(b)
	 	Not applicable
	 

	 	(c)(1)
	 	1.02 
	 

	 	(c)(2)
	 	1.02 
	 

	 	(c)(3)
	 	Not applicable
	 

	 	(d)
	 	Not applicable
	 

	 	(e)
	 	1.02 
	315

	 	(a)
	 	7.01(a) 
	 

	 	(b)
	 	7.02 
	 

	 	(c)
	 	7.01(b) 
	 

	 	(d)
	 	7.01 
	 

	 	(e)
	 	6.14 
	316

	 	(a)(1)(A)
	 	6.12 
	 

	 	(a)(1)(B)
	 	6.13 
	 

	 	(a)(2)
	 	Not applicable
	 

	 	(b)
	 	6.08 
	317

	 	(a)(1)
	 	6.03 
	 

	 	(a)(2)
	 	6.04 
	 

	 	(b)
	 	11.03 
	318

	 	(a)
	 	1.07 

 

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

v

 

     INDENTURE, dated as of            , among WILLIS NORTH AMERICA INC., a
Delaware corporation, as issuer (the “Issuer”), WILLIS
GROUP HOLDINGS PUBLIC LIMITED COMPANY, a company organized
and existing under the laws of Ireland, WILLIS
NETHERLANDS HOLDINGS, B.V., a company organized under the laws of the
Netherlands, WILLIS INVESTMENT UK HOLDINGS LIMITED, a company organized
and existing under the laws of England and Wales, TA I LIMITED, a company organized and existing
under the laws of England and Wales, TA II LIMITED, a company organized and existing under the laws
of England and Wales, TA III LIMITED, a company organized and existing under the laws of England
and Wales, TRINITY ACQUISITION PLC, a company organized and existing under the laws of England and
Wales, TA IV LIMITED, a company organized and existing under the laws of England and Wales, and
WILLIS GROUP LIMITED, a company organized and existing under the laws of England and Wales, as
guarantors (collectively, the “Guarantors”), and THE BANK OF NEW YORK MELLON, a New York banking
corporation, as trustee (the “Trustee”).

RECITALS OF THE ISSUER

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

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

     NOW, THEREFORE, THIS INDENTURE WITNESSETH:

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

ARTICLE ONE

DEFINITIONS AND OTHER PROVISIONS

OF GENERAL APPLICATION

SECTION 1.01 Definitions.

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

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

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

     (c) all accounting terms not otherwise defined herein have the meanings assigned to
them in accordance with GAAP; and

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

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

     “Act” when used with respect to any Holder, has the meaning specified in Section 1.04.

     “Affiliate” means, with respect to any specified Person, any other Person directly or
indirectly controlling or controlled by or under direct or indirect common control with such
specified Person. For purposes of this definition, “control” (including, with correlative meanings,
the terms “controlling,” “controlled by” and “under common control with”), as used with respect to
any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the
direction of the management or policies of such Person, whether through the ownership of voting
securities, by agreement or otherwise.

 

 

     “Authorized Newspaper” shall mean a newspaper of general circulation in the Borough of
Manhattan, The City of New York, and customarily published on each Business Day, currently expected
to be The Wall Street Journal (National Edition). Where successive publications are required to be
made in an Authorized Newspaper, the successive publications may be made in the same or different
newspapers meeting the foregoing requirements and in each case on any Business Day.

     “Bankruptcy Law” means (i) any and all relevant provisions of the Companies Act 1981
of Bermuda, including but not limited to Part XIII, as supplemented or amended, together with all
rules, regulations and instruments made thereunder and applicable laws of Bermuda relating to
bankruptcy, insolvency, winding up, administration, receivership or other similar matters, (ii) the
U.K. Insolvency Act 1986, as supplemented or amended, together with all rules, regulations and
instruments made thereunder and applicable laws of England and Wales relating to bankruptcy,
insolvency, winding up, administration, receivership and other similar matters and (iii) Title 11,
United States Bankruptcy Code of 1978 as amended, or any similar United States federal or state law
relating to relief of debtors or any amendment to, succession to or change in any such law.

     “Board of Directors” means either the board of directors of the Issuer or a Guarantor
or any committee of that board duly authorized to act hereunder.

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

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

     “Capital Stock” means, with respect to any Person, any shares or other equivalents
(however designated) of any class of corporate stock or partnership interests or any other
participations, rights, warrants, options or other interests in the nature of an equity interest in
such Person, including, without limitation, preferred stock and any debt security convertible or
exchangeable into such equity interest.

     “Cash Equivalents” means (i) United States dollars, (ii) pounds sterling, (iii) Euro,
(iv) Japanese Yen, (v) Canadian dollars, (vi) Australian dollars, (vii) securities issued or
directly and fully guaranteed or insured by the United States or United Kingdom government or any
agency or instrumentality thereof with maturities of 24 months or less from the date of
acquisition, (viii) certificates of deposit, time deposits and eurodollar time deposits with
maturities of one year or less from the date of acquisition, bankers’ acceptances with maturities
not exceeding one year and overnight bank deposits, in each case with any commercial bank having
capital and surplus in excess of $500.0 million, (ix) repurchase obligations for underlying
securities of the types described in clauses (vii) and (viii) entered into with any financial
institution meeting the qualifications specified in clause (viii) above, (x) commercial paper rated
A-1 or the equivalent thereof by Moody’s or S&P and in each case maturing within one year after the
date of acquisition, (xi) investment funds investing 95% of their assets in securities of the types
described in clauses (i)-(x) above, (xii) readily marketable direct obligations issued by any state
of the United States of America or any political subdivision thereof having one of the two highest
rating categories obtainable from either Moody’s or S&P with maturities of 24 months or less from
the date of acquisition and (xiii) Indebtedness or preferred stock issued by Persons with a rating
of “A” or higher from S&P or “A2” or higher from Moody’s with maturities of 24 months or less from
the date of acquisition. Notwithstanding the foregoing, Cash Equivalents shall include amounts
denominated in currencies other than those set forth in clauses (i) through (vi) above;

2

 

provided that, such amounts are converted into any currency listed in clauses (i) through (vi) as
promptly as practicable and in any event within ten Business Days following the receipt of such
amounts.

     “Commission” means the Securities and Exchange Commission, as from time to time
constituted, created under the Securities Exchange Act of 1934, or, if at any time after the
execution of this instrument such Commission is not existing and performing the duties now assigned
to it under the Trust Indenture Act, then the body performing such duties at such time.

     “Corporate Trust Office” means the principal corporate trust office of the Trustee in
New York, New York at which at any particular time its corporate trust business shall be
administered.

     “Corporation” includes corporations, associations, companies and business trusts.

     “Credit Agreement” means that certain $1,000,000,000.00 Credit Agreement, dated as of
October 1, 2008, among Willis North America Inc., Bank of America, N.A. as administrative agent,
and each lender from time to time party thereto and any amendments, supplements, modifications,
extensions, renewals or restatements thereof.

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

     “Defaulted Interest” has the meaning specified in Section 3.07.

     “Depository” has the meaning specified in Section 3.01.

     “Designated Senior Indebtedness” means (i) Senior Indebtedness under the Credit
Agreement and (ii) any other Senior Indebtedness the principal amount of which is $25.0 million or
more and that has been designated by the Issuer as Designated Senior Indebtedness.

     “Dollar” or “$” means a dollar or other equivalent unit in such coin or currency of
the United States as at the time of payment is legal tender for the payment of public and private
debts.

     “Event of Default” has the meaning specified in Section 6.01.

     “Existing Notes” means the 5.125% Senior Notes due 2010 and the 5.625% Senior Notes
due 2015 issued pursuant to the first supplemental indenture dated as of July 1, 2005, to the
Indenture dated as of July 1, 2005 (the “Indenture”) by and among the Issuer, Willis Group Limited,
TA I Limited, TA II Limited, TA III Limited and Trinity Acquisition
plc, as guarantors, and The
Bank of New York Mellon as successor to JPMORGAN CHASE BANK, N.A., and the 6.200% Senior Notes due
2017 issued pursuant to the second supplemental indenture to the Indenture dated as of March 28,
2007.

     “GAAP” shall mean generally accepted accounting principles in the United States of
America set forth in the opinions and pronouncements of the Accounting Principles Board of the
American Institute of Certified Public Accountants and 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 as in effect from time to time.

     “Global Security” has the meaning specified in Section 2.03.

     “Government Securities” means direct obligations of, or obligations guaranteed by, the
United States of America for the payment of which obligations or guarantee the full faith and
credit of the United States is pledged and which have a remaining weighted average life to maturity
of not more than one year from the date of investment therein.

     “Guarantee” means the guarantee by any Guarantor of the Issuer’s Indenture
obligations.

     “Guaranteed Obligations” has the meaning specified in Section 16.01.

3

 

     “Guarantor”
means each of Willis Group Holdings Public Limited Company, a company organized and
existing under the laws of Ireland, Willis
Netherlands Holdings, B.V., a company organized under the land of the
Netherlands, Willis Investment UK Holdings Limited, a company organized and
existing under the laws of England and Wales, TA I Limited, a company organized and existing under
the laws of England and Wales, TA II Limited, a company organized and existing under the laws of
England and Wales, TA III Limited, a company organized and existing under the laws of England and
Wales, Trinity Acquisition Limited, a company organized and existing under the laws of England and
Wales, TA IV Limited, a company organized and existing under the laws of England and Wales and
Willis Group Limited, a company organized and existing under the laws of England and Wales, and any
other subsidiary of Willis Group Holdings Limited which becomes a guarantor of the Issuer’s
Indenture obligations.

     “Hedging Obligation” means, with respect to any Person, the obligations of such Person
under (i) currency exchange, interest rate or commodity swap agreements, currency exchange,
interest rate or commodity cap agreements and currency exchange, interest rate or commodity collar
agreements and (ii) other agreements or arrangements designed to protect such Person against
fluctuations in currency exchange, interest rates or commodity prices.

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

     “Indebtedness” means, with respect to any Person, (a) the principal of and premium (if
any) in respect of any obligation of such Person for money borrowed, and any obligation evidenced
by notes, debentures, bonds or other similar instruments for the payment of which such Person is
responsible or liable; (b) all obligations of such Person as lessee under leases required to be
capitalized on the balance sheet of the lessee under GAAP and leases of property or assets made as
part of any sale and leaseback transaction entered into by such Person; (c) all obligations of such
Person issued or assumed as the deferred purchase price of any property, all conditional sale
obligations of such Person and all obligations of such Person under any title retention agreement
(but excluding trade accounts payable or similar obligations to a trade creditor arising in the
ordinary course of business); (d) all obligations of such Person for the reimbursement of any
obligor on any letter of credit, banker’s acceptance or similar credit transaction; (e) all
obligations of the type referred to in clauses (a) through (d) of other Persons and all dividends
of other Persons for the payment of which, in either case, such Person is responsible or liable,
directly or indirectly, as obligor, guarantor or otherwise, including by means of any guarantee
(other than by endorsement of negotiable instruments for collection in the ordinary course of
business); (f) all obligations of the type referred to in clauses (a) through (d) of other Persons
secured by any Lien on any property of such Person (whether or not such obligation is assumed by
such Person); and (g) to the extent not otherwise included in this definition, Hedging Obligations
of such Person.

     “Indenture” means this instrument as originally executed or as it may from time to
time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant
to the applicable provisions hereof and shall include the form and terms of particular series of
Securities established as contemplated by Section 3.01.

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

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

4

 

     “Issuer” means Willis North America Inc., a Delaware corporation, until a successor
Person shall have become such pursuant to the applicable provisions of the Indenture, and
thereafter “Issuer” shall mean such successor Person.

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

     “Legal Defeasance” has the meaning specified in Section 5.03.

     “Letter of Credit Obligations” means all obligations in respect of Indebtedness of the
Issuer or the Guarantors with respect to letters of credit issued pursuant to the Credit Agreement
which Indebtedness shall be deemed to consist of (a) the aggregate maximum amount available to be
drawn under all such letters of credit (the determination of such aggregate maximum amount to
assume compliance with all conditions for drawing) and (b) the aggregate amount that has been paid
by, and not reimbursed to, the issuers of such letters of credit.

     “Lien” means, with respect to any property of any Person, any mortgage or deed of
trust, pledge, hypothecation, assignment, deposit arrangement, security interest, lien, charge,
encumbrance, preference, priority or other security agreement or preferential arrangement of any
kind or nature whatsoever on or with respect to such property (including any capital lease
obligation, conditional sale or other title retention agreement having substantially the same
economic effect as any of the foregoing or any sale and leaseback transaction).

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

     “Moody’s” means Moody’s Investors Service, Inc.

     “Non-Payment Default” has the meaning specified in Section 4.03.

     “Obligation” means any principal, premium, interest (including interest accruing
subsequent to a bankruptcy or other similar proceeding whether or not such interest is an allowed
claim enforceable against the Issuer in a bankruptcy case under Federal Bankruptcy Law), penalties,
fees, indemnifications, reimbursements, damages and other liabilities payable pursuant to the terms
of the documentation governing any Indebtedness.

     “Officers’ Certificate” means a certificate signed by the Chairman of the Board, the
President or a Vice President, and by the Treasurer, an Assistant Treasurer, the Secretary or an
Assistant Secretary, of the Issuer or any Guarantor, as applicable, and delivered to the Trustee.

     “Opinion of Counsel” means a written opinion of counsel, who may be counsel for the
Issuer or any Guarantor, and who shall be acceptable to the Trustee.

     “Original Issue Discount Security” means any Security which provides for an amount
less than the principal amount thereof to be due and payable upon a declaration of acceleration of
the Maturity thereof pursuant to Section 6.02.

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

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

     (ii) Securities or portions thereof for whose payment or redemption money
or, as provided in Section 5.05 hereof, U.S. Government Obligations, in the necessary
amount has been theretofore deposited with the Trustee or any Paying Agent (other than the
Issuer) in trust or, except for

5

 

purposes of Section 5.01, set aside and segregated in trust by the Issuer (if the Issuer
shall act as its own Paying Agent) for the Holders of such Securities; provided that, if
such Securities are to be redeemed, notice of such redemption has been duly given pursuant
to this Indenture or provision therefor satisfactory to the Trustee has been made; and

     (iii) Securities which have been paid pursuant to Section 3.06 or in exchange
for or in lieu of which other Securities have been authenticated and delivered pursuant to
this Indenture, other than any such Securities in respect of which there shall have been
presented to the Trustee proof satisfactory to it that such Securities are held by a
protected purchaser in whose hands such Securities are valid obligations of the Issuer;

provided, however, that in determining whether the Holders of the requisite principal amount of the
Outstanding Securities have given any request, demand, authorization, direction, notice, consent or
waiver hereunder or whether a quorum is present at a meeting of Holders of Securities, (i) the
principal amount of an Original Issue Discount Security that shall be deemed to be Outstanding
shall be the amount of the principal thereof that would be due and payable as of the date of such
determination upon acceleration of the maturity thereof pursuant to Section 6.01 and
(ii) Securities owned by the Issuer or any other obligor upon the Securities or any Affiliate of
the Issuer or of such other obligor shall be disregarded and deemed not to be Outstanding, except
that, in determining whether the Trustee shall be protected in relying upon any such request,
demand, authorization, direction, notice, consent or waiver, or upon such determination as to the
presence of a quorum, only Securities which a Responsible Officer of the Trustee knows to be so
owned shall be so disregarded. Securities so owned which have been pledged in good faith may be
regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s
right so to act with respect to such Securities and that the pledgee is not the Issuer or any other
obligor upon the Securities or any Affiliate of the Issuer or of such other obligor.

     “Parent Guarantor” means Willis Group Holdings Limited, a company organized and
existing under the laws of Bermuda, until a successor Person shall have become such pursuant to the
applicable provisions of the Indenture, and thereafter “Parent Guarantor” shall mean such successor
Person.

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

     “Payment Blockage Notice” has the meaning specified in Section 4.03.

     “Payment Blockage Period” has the meaning specified in Section 4.03.

     “Payment Default” has the meaning specified in Section 4.03.

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

     “Place of Payment” when used with respect to the Securities of any series, means the
place or places where the principal of (and premium, if any) and interest on the Securities of that
series are payable as specified as contemplated by Section 3.01.

     “Predecessor Security” of any particular Security means every previous Security
evidencing all or a portion of the same debt as that evidenced by such particular Security; and,
for the purposes of this definition, any Security authenticated and delivered under Section 3.06 in
exchange for or in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to
evidence the same debt as the mutilated, destroyed, lost or stolen Security.

     “Principal” of a debt security, including any Security, on any day and for any purpose
means the amount (including, without limitation, in the case of an Original Issue Discount
Security, any accrued

6

 

original issue discount, but excluding interest) that is payable with respect to such debt security
as of such date and for such purpose (including, without limitation, in connection with any sinking
fund, upon any redemption at the option of the Issuer upon any purchase or exchange at the option
of the Issuer or the holder of such debt security and upon any acceleration of the maturity of such
debt security).

     “Principal Amount” of a debt security, including any Security, means the principal
amount as set forth on the face of such debt security.

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

     “Redemption Price” when used with respect to any Security to be redeemed, means the
price (exclusive of accrued interest, if any) at which it is to be redeemed pursuant to this
Indenture.

     “Regular Record Date” for the interest payable on any Interest Payment Date on the
Securities of any series means the date specified for that purpose as contemplated by Section 3.01.

     “Reporting Date” shall mean, when used with respect to any series of Securities, the
date (and each successive anniversary thereof) established by a Board Resolution pursuant to
Section 3.01 which shall be a date no more than ten months from the date of the initial issuance of
such series of Securities under this Indenture.

     “Representative” means the trustee, agent or representative (if any) for an issue of
Senior Indebtedness of the Issuer.

     “Responsible Officer” when used with respect to the Trustee, means any officer
assigned to and working in the corporate trust department of the Trustee with direct responsibility
for the administration of this Indenture and also means, with respect to a particular corporate
trust matter, any other officer to whom such matter is referred because of his or her knowledge of
and familiarity with the particular subject.

     “S&P” means Standard and Poor’s Ratings Group.

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

     “Security Register” and “Security Registrar” have the respective meanings specified in
Section 3.05.

     “Senior Indebtedness” means (i) the Indebtedness under the Credit Agreement,
(ii) Indebtedness evidenced by the Existing Notes and (iii) any other
Indebtedness of the Issuer, unless the instrument under which such Indebtedness is incurred
expressly provides that it is on a parity with or subordinated in right of payment to the
Securities, including, with respect to clauses (i), (ii) and (iii) interest accruing subsequent to
the filing of, or which would have accrued but for the filing of, a petition for bankruptcy, in
accordance with and at the rate (including any rate applicable upon any default or event of
default, to the extent lawful) specified in the documents evidencing or governing such Senior
Indebtedness, whether or not such interest is an allowable claim in such bankruptcy proceeding.
Notwithstanding anything to the contrary in the foregoing, “Senior Indebtedness” shall not include:

     (1) any liability for federal, state, local or other taxes owed or owing by
the Issuer,

     (2) any obligation of the Issuer to its direct or indirect parent
corporations, any of its Subsidiaries or any other Affiliate of the Issuer,

     (3) any accounts payable or trade liabilities (including obligations in
respect of funds held for the account of third parties) arising in the ordinary course of
business (including guarantees

7

 

thereof or instruments evidencing such liabilities) other than obligations in respect of
letters of credit under the Credit Agreement,

     (4) any Indebtedness that is incurred in violation of this Indenture,

     (5) Indebtedness which, when incurred and without respect to any election
under Section 1111(b) of Title 11, United States Code, is without recourse to the Issuer,

     (6) any Indebtedness, guarantee or obligation of the Issuer which is
subordinate or junior to any other Indebtedness, guarantee or obligation of the Issuer,

     (7) Indebtedness evidenced by the Securities, and

     (8) Capital Stock of the Issuer.

     “Senior Indebtedness” of any Guarantor has a correlative meaning.

     “Senior Subordinated Indebtedness” means (a) with respect to the Issuer, any
Indebtedness which ranks pari passu in right of payment to the Securities and (b) with respect to
any Guarantor, any Indebtedness which ranks pari passu in right of payment to the Guarantee of such
Guarantor.

     “Significant Subsidiary” means any Subsidiary of the Parent Guarantor that would be a
“significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant
to the Securities Act of 1933, as amended, as such regulation is in effect on the date hereof.

     “Special Record Date” for the payment of any Defaulted Interest means a date fixed by
the Trustee pursuant to Section 3.07.

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

     “Subordinated Indebtedness” means (a) with respect to the Issuer, any Indebtedness
which is by its terms subordinated in right of payment to the Securities and (b) with respect to
any Guarantor, any Indebtedness which is by its terms subordinated in right of payment to the
Guarantee of such Guarantor.

     “Subsidiary” means, with respect to any Person, (i) any corporation, association, or
other business entity (other than a partnership, joint venture, limited liability company or
similar entity) of which more than 50% of the total voting power of shares of Capital Stock
entitled (without regard to the occurrence of any contingency) to vote in the election of
directors, managers or trustees thereof is at the time of determination owned or controlled,
directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a
combination thereof and (ii) any partnership, joint venture, limited liability company or similar
entity of which (x) more than 50% of the capital accounts, distribution rights, total equity and
voting interests or general or limited partnership interests, as applicable, are owned or
controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that
Person or a combination thereof whether in the form of membership, general, special or limited
partnership or otherwise and (y) such Person or any wholly owned Subsidiary of such Person is a
controlling general partner or otherwise controls such entity.

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

     “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, and as in
force at the date as of which this instrument was executed, except as provided in Section 10.05;
provided, however,

8

 

that in the event the Trust Indenture Act is Amended after such date, “Trust Indenture Act” means,
with respect to the Securities of any series issued after such date, the Trust Indenture Act of
1939 as so amended.

     “U.S. Government Obligations” has the meaning specified in Section 5.05.

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

SECTION 1.02 Compliance Certificates and Opinions.

     Upon any application or request by the Issuer or any Guarantor to the Trustee to take
any action under any provision of this Indenture, the Issuer or such Guarantor shall furnish to the
Trustee an Officers’ Certificate stating that all conditions precedent (including any covenant
compliance with which constitutes a condition precedent), if any, provided for in this Indenture
relating to the proposed action that such action has been complied with and an Opinion of Counsel
stating that in the opinion of such counsel that such action is authorized or permitted by this
Indenture and that all such conditions precedent (including any covenants compliance with which
constitutes a condition precedent), if any, have been complied with, except that in the case of any
such application or request as to which the furnishing of such documents is specifically required
by any provision of this Indenture relating to such particular application or request, no
additional certificate or opinion need be furnished.

     Every certificate or opinion with respect to compliance with a condition or covenant
provided for in this Indenture (other than annual certificates provided pursuant to Section 11.08)
shall include:

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

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

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

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

SECTION 1.03 Form of Documents Delivered to Trustee.

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

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

9

 

exercise of reasonable care should know, that the certificate or opinion or representations with
respect to such matters are erroneous.

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

SECTION 1.04 Acts of Holders.

     (a) Any request, demand, authorization, direction, notice, consent, waiver or other
action provided by this Indenture to be given or taken by Holders may be embodied in and evidenced
by one or more instruments of substantially similar tenor signed by such Holders in person or by
agent duly appointed in writing or by the record of the Holders voting in favor thereof at any
meeting of such Holders duly called and held in accordance with the provisions of Article Fifteen;
and, except as herein otherwise expressly provided, such action shall become effective when such
instrument or instruments or any such record is delivered to the Trustee and, where it is hereby
expressly required, to the Issuer or any Guarantor. Such instrument or instruments or such record
(and the action embodied therein and evidenced thereby) are herein sometimes referred to as the
“Act” of the Holders signing such instrument or instruments or voting at such meeting. Proof of
execution of any such instrument or of a writing appointing any such agent shall be sufficient for
any purpose of this Indenture and conclusive in favor of the Trustee, the Issuer and any Guarantor
if made in the manner provided in this Section. The record of any meeting of Holders of Securities
shall be proved in the manner provided in Section 15.07 and the record so proved shall be
sufficient for any purpose of this Indenture and conclusive in favor of the Trustee, the Issuer and
any Guarantor, if made in the manner provided in this Section.

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

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

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

     (e) The Issuer or the Trustee, as applicable, may set a date for the purpose of
determining the Holders of Securities entitled to consent, vote or take any other action referred
to in this Section 1.04, which date shall be not less than 10 days nor more than 60 days prior to
the taking of the consent, vote or other action.

SECTION 1.05 Notices, etc. to Trustee and Issuer.

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

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

10

 

Corporate Trust Office and, unless otherwise herein expressly provided, any such document
shall be deemed to be sufficiently made, given, furnished or filed upon its receipt by a
Responsible Officer of the Trustee, or

     (2) the Issuer or any Guarantor by the Trustee or by any Holder shall be
sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in
writing and mailed, first-class postage prepaid, to the Issuer addressed to it at:

One Century Place

26 Century Boulevard

Nashville, TN 37214

or to any Guarantor addressed to it at:

[To
be provided.]

or at any other address or addresses previously furnished in writing to the Trustee by the Issuer
or such Guarantor.

SECTION 1.06 Notice to Holders; Waiver.

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

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

SECTION 1.07 Conflict with Trust Indenture Act.

     If any provision hereof limits, qualifies or conflicts with the duties imposed by any
of Sections 310 to 317, inclusive, of the Trust Indenture Act through operation of Section 318(c),
such imposed duties shall control.

SECTION 1.08 Effect of Headings and Table of Contents.

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

SECTION 1.09 Successors and Assigns.

     All covenants and agreements in this Indenture by the Issuer or any Guarantor shall
bind their successors and assigns, whether so expressed or not.

11

 

SECTION 1.10 Separability Clause.

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

SECTION 1.11 Benefits of Indenture.

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

SECTION 1.12 Governing Law; Waiver of Trial by Jury.

     This Indenture and the Securities shall be governed by and construed in accordance
with the laws of the State of New York. Each of the Issuer, the Guarantors and the Trustee
irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial
by jury in any legal proceeding arising out of or relating to this Indenture or the transactions
contemplated hereby.

SECTION 1.13 Legal Holidays.

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

ARTICLE TWO

SECURITY FORMS

SECTION 2.01 Forms Generally.

     The Securities of each series shall be in substantially the form established from time
to time by or pursuant to a Board Resolution or in one or more indentures supplemental hereto, in
each case with such appropriate insertions, omissions, substitutions and other variations as are
required or permitted by this Indenture, and may have such letters, numbers or other marks of
identification and such legends or endorsements placed thereon as may be required to comply with
the rules of any securities exchange or as may, consistently herewith, be determined by the
officers executing such Securities, as evidenced by their execution of such Securities. Any portion
of the text of any Security may be set forth on the reverse thereof, with an appropriate reference
thereto on the face of the Security. If the form of Securities of any series is established by
action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall
be certified by the Secretary or an Assistant Secretary of the Issuer and delivered to the Trustee
at or prior to the delivery of the Issuer Order contemplated by Section 3.03 for the authentication
and delivery of such Securities. Any such Board Resolution or record of such action shall have
attached thereto a true and correct copy of the form of Security referred to therein approved by or
pursuant to such Board Resolution.

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

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

SECTION 2.02 Form of Trustee’s Certificate of Authentication.

     The Trustee’s certificate of authentication on all Securities shall be in
substantially the following form:

     This is one of the Securities of the series designated therein issued under the
within-mentioned Indenture.

	 	 	 	 	 	 	 
	Dated:	 	THE BANK OF NEW YORK MELLON, AS TRUSTEE	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 
	 

	 	 	 	Authorized Officer	 	 

SECTION 2.03 Securities in Global Form.

     If any Security of a series is issuable in global form (a “Global Security”), such
Global Security may provide that it shall represent the aggregate amount of Outstanding Securities
from time to time endorsed thereon and may also provide that the aggregate amount of Outstanding
Securities represented thereby may from time to time be reduced to reflect exchanges. Any
endorsement of a Global Security to reflect the amount, or any increase or decrease in the amount,
of Outstanding Securities represented thereby shall be made by the Trustee and in such manner as
shall be specified in such Global Security. Any instructions by the Issuer with respect to a Global
Security, after its initial issuance, shall be in writing but need not comply with Section 1.02.

     Global Securities may be issued in either temporary or permanent form. Permanent
Global Securities will be issued in definitive form.

ARTICLE THREE

THE SECURITIES

SECTION 3.01 Amount Unlimited; Issuable in Series.

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

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

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

     (2) the aggregate principal amount of the Securities of such series and any
limit upon the aggregate principal amount of the Securities of the series which may be
authenticated and delivered under this Indenture (except for Securities authenticated and
delivered upon registration of transfer of, or in exchange for, or in lieu of, other
securities of the series pursuant to Section 3.04, 3.05, 3.06, 10.06 or 12.07);

     (3) the date or dates on which the principal (and premium, if any) of the
Securities of the series is payable or the method of determination thereof;

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     (4) the rate or rates (which may be fixed or variable), or the method of
determination thereof, at which the Securities of the series shall bear interest, if any,
including the rate of interest applicable on overdue payments of principal or interest, if
different from the rate of interest stated in the title of the Security, the date or dates
from which such interest shall accrue or the method of determination thereof, the Interest
Payment Dates on which such interest shall be payable and the Regular Record Date for the
interest payable on any Interest Payment Date;

     (5) the Paying Agent or Paying Agents for the Securities of the series if
other than the Trustee;

     (6) the Place of Payment of the Securities of the series;

     (7) if other than U.S. Dollars, the foreign currency or currencies in which
Securities of the series shall be denominated or in which payment of the principal of (and
premium, if any) or interest on Securities of the series may be made, and the particular
provisions applicable thereto and, if applicable, the amount of the Securities of the
series which entitles the Holder of a Security of the series or its proxy to one vote for
purposes of Section 15.06;

     (8) the right, if any, of the Issuer to redeem the Securities of such series
and the period or periods within which, the price or prices at which and the terms and
conditions upon which Securities of the series may be redeemed, in whole or in part, at the
option of the Issuer;

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

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

     (11) whether the Securities of the series shall be issued in whole or in part
in the form of one or more Global Securities and, in such case, the depository (the
“Depository”) for such Global Security or Securities; and the manner in which and the
circumstances under which Global Securities representing Securities of the series may be
exchanged for Securities in definitive form, if other than, or in addition to, the manner
and circumstances specified in Section 3.05(b);

     (12) if other than the principal amount thereof, the portion of the principal
amount of Securities of the series which shall be payable upon declaration of acceleration
of the Maturity thereof pursuant to Section 6.02;

     (13) if the provisions of Section 5.02 of this Indenture are to apply to the
Securities of the series, a statement indicating the same;

     (14) any deletions from or modifications of or additions to the Events of
Default set forth in Section 6.01 pertaining to the Securities of the series;

     (15) the form of the Securities of the series;

     (16) the Reporting Date of the Securities of the series; and

     (17) any other terms of a particular series and any other provisions
expressing or referring to the terms and conditions upon which the Securities of that
series are to be issued, which terms and provisions are not in conflict with the provisions
of this Indenture or do not adversely affect the rights of Holders of any other series of
Securities then Outstanding); provided, however, that the addition to or subtraction from
or variation of Articles Four, Five, Six, Nine, Eleven, Thirteen and Sixteen (and
Section 1.01 insofar as it relates to the definition of certain terms as used in such

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Articles) with regard to the Securities of a particular series shall not be deemed to
constitute a conflict with the provisions of those Articles.

     All Securities of any one series shall be substantially identical except as to
denomination and except as may otherwise be provided in or pursuant to such Board Resolution and
set forth in such Officers’ Certificate or in any such indenture supplemental hereto. All
Securities of any one series need not be issued at the same time, and unless otherwise provided, a
series may be reopened for issuance of additional Securities of such series without the consent of
the Holders thereof.

     Except as modified in a Board Resolution, Officers’ Certificate or supplemental
indenture establishing a series of Securities, the Securities shall be subordinated in right of
payment to Senior Indebtedness as provided in Article Four. The Securities of all series shall rank
on a parity in right of payment.

     Except as modified in a Board Resolution, Officers’ Certificate or supplemental
indenture establishing a series of Securities, the Securities shall be fully and unconditionally
guaranteed, jointly and severally, by each Guarantor as provided in Article Sixteen.

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

SECTION 3.02 Denominations.

     The Securities of each series shall be issuable in registered form without coupons in
such denominations as shall be specified as contemplated by Section 3.01. In the absence of any
such provisions with respect to the Securities of any series, the Securities of such series shall
be issuable in denominations of $1,000 and any integral multiple thereof.

SECTION 3.03 Execution, Authentication, Delivery and Dating.

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

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

     At any time and from time to time after the execution and delivery of this Indenture,
the Issuer may deliver Securities of any series executed by the Issuer to the Trustee for
authentication, together with an Issuer Order for the authentication and delivery of such
Securities, and the Trustee in accordance with the Issuer Order shall authenticate and deliver such
Securities. If any Security shall be represented by a permanent Global Security, then, for purposes
of this Section and Section 3.04, the notation of a beneficial owner’s interest therein upon
original issuance of such Security or upon exchange of a portion of a temporary Global Security
shall be deemed to be delivery in connection with the original issuance of such beneficial owner’s
interest in such permanent Global Security.

     In authenticating such Securities, and accepting the additional responsibilities under
this Indenture in relation to such Securities, the Trustee shall be entitled to receive and
(subject to Section 7.01) shall

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be fully protected in relying upon the documents specified in Section 314 of the Trust Indenture
Act, and, in addition:

     (1) a Board Resolution relating thereto, and if applicable, an appropriate
record of any action taken pursuant to such Board Resolution, certified by the Secretary or
Assistant Secretary of the Issuer or any Guarantor, if applicable;

     (2) an executed supplemental indenture, if any; and

     (3) an Opinion of Counsel which shall state:

     (A) that the form and terms of such Securities have been established
by or pursuant to Board Resolutions, by a supplemental indenture or by both such
resolution or resolutions and such supplemental indenture in conformity with the
provisions of this Indenture;

     (B) that the supplemental indenture, if any, when executed and
delivered by the Issuer, any Guarantor and the Trustee, will constitute a valid and
legally binding obligation of the Issuer and such Guarantor; and

     (C) that such Securities, when authenticated and delivered by the
Trustee and issued by the Issuer and any Guarantor in the manner and subject to any
conditions specified in such Opinion of Counsel, will constitute valid and legally
binding obligations of the Issuer and each such Guarantor, if applicable,
enforceable in accordance with their terms, subject to bankruptcy, insolvency,
reorganization and other laws of general applicability relating to or affecting the
enforcement of creditors’ rights and to general equity principles, and will be
entitled to the benefits of this Indenture.

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

     Notwithstanding the provisions of Section 3.01 and of this Section 3.03, if all
Securities of a series are not to be originally issued at one time, it shall not be necessary to
deliver the Board Resolution and the Officers’ Certificate otherwise required pursuant to
Section 3.01 or the Board Resolution and Opinion of Counsel otherwise required pursuant to this
Section 3.03 at or prior to the time of authentication of each Security of such series, if such
documents are delivered at or prior to the authentication upon original issuance of the first
Security of such series to be issued.

     Each Security shall be dated the date of its authentication.

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

SECTION 3.04 Temporary Securities.

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

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

     SECTION 3.05 Registration, Registration of Transfer and Exchange Global Securities Representing
the Securities.

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

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

     Except as otherwise provided in this Article Three, at the option of the Holder,
Securities of any series may be exchanged for other Securities of the same series, of any
authorized denominations and of an equal aggregate principal amount, upon surrender of the
Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for
exchange, the Issuer shall execute, and the Trustee shall authenticate and deliver, the Securities
which the Holder making the exchange is entitled to receive.

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

     Every Security presented or surrendered for registration of transfer or for exchange
shall (if so required by the Issuer or the Trustee) be duly endorsed, or be accompanied by a
written instrument of transfer in form satisfactory to the Issuer and the Security Registrar duly
executed, by the Holder thereof or his attorney duly authorized in writing with such signature
guaranteed by a commercial bank reasonably acceptable to the Trustee or by a member of a national
securities exchange.

     No service charge shall be made for any registration of transfer or exchange of
Securities, but the Issuer or the Trustee may require payment of a sum sufficient to cover any tax
or other governmental charge that may be imposed in connection with any registration of transfer or
exchange of Securities, other than exchanges pursuant to Section 3.04, 10.06 or 12.07 not involving
any transfer.

     The Issuer shall not be required (i) to issue, register the transfer of or exchange
Securities of any series during a period beginning at the opening of business 15 days before the
day of the mailing of a notice of redemption of Securities of that series selected for redemption
under Section 12.03 and ending at the close of business on the day of such mailing, or (ii) to
register the transfer of or exchange

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of any Security so selected for redemption in whole or in part, except the unredeemed portion of
any Security being redeemed in part.

     (b) If the Issuer shall establish pursuant to Section 3.01 that the Securities of a
series are to be issued in whole or in part in the form of one or more Global Securities, then the
Issuer shall execute and the Trustee shall, in accordance with Section 3.03 and the Issuer Order
with respect to such series, authenticate and deliver one or more Global Securities in temporary or
permanent form that (i) shall represent and shall be denominated in an amount equal to the
aggregate principal amount of the Outstanding Securities of such series to be represented by one or
more Global Securities, (ii) shall be registered in the name of the Depositary for such Global
Security or Securities or the nominee of such Depositary, (iii) shall be delivered by the Trustee
or delivered or held pursuant to such Depositary’s instruction, and (iv) shall bear a legend
substantially to the following effect: “This Security may not be transferred except as a whole by
the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary
or another nominee of the Depositary or by the Depositary or any such nominee to a successor
Depositary or a nominee of such successor Depositary, unless and until this Security is exchanged
in whole or in part for Securities in definitive form.”

     Each Depositary designated pursuant to Section 3.01 must, at the time of its
designation and at all times while it serves as Depositary, be a clearing agency registered under
the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and any other applicable
statute or regulation.

     If at any time the Depositary for the Securities of a series notifies the Issuer that
it is unwilling or unable to continue as Depositary for the Securities of such series or if at any
time the Depositary for Securities of a series shall no longer be a clearing agency registered and
in good standing under the Exchange Act or other applicable statute or regulation (as required by
this Section 3.05), the Issuer shall appoint a successor Depositary eligible under this
Section 3.05 with respect to the Securities of such series. If a successor Depositary for the
Securities of such series is not appointed by the Issuer within 90 days after the Issuer receives
such notice or becomes aware of such condition, the Issuer shall execute, and the Trustee, upon
receipt of an Issuer Order for the authentication and delivery of definitive Securities of such
series, will authenticate and deliver, Securities of such series in definitive form in an aggregate
principal amount equal to the principal amount of the Global Security or Securities representing
such series in exchange for such Global Security or Securities.

     The Issuer may at any time and in its sole discretion determine that the Securities of
any series issued in the form of one or more Global Securities shall no longer be represented by
such Global Security or Securities. In such event, the Issuer shall execute, and the Trustee, upon
receipt of an Issuer Order for the authentication and delivery of definitive Securities of such
series, will authenticate and deliver, Securities of such series in definitive form and in an
aggregate principal amount equal to the principal amount of the Global Security or Securities
representing such series in exchange for such Global Security or Securities.

     If the Securities of any series shall have been issued in the form of one or more
Global Securities and if an Event of Default with respect to the Securities of such series shall
have occurred and be continuing, the Issuer may, and upon the request of the Trustee shall,
promptly execute, and the Trustee, upon receipt of an Issuer Order for the authentication and
delivery of definitive Securities of such series, will authenticate and deliver, Securities of such
series in definitive form and in an aggregate principal amount equal to the principal amount of the
Global Security or Securities representing such series in exchange for such Global Security or
Securities.

     The Depositary for such series of Securities may surrender a Global Security for such
series of Securities in exchange in whole or in part for Securities of such series in definitive
form on such terms

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as are acceptable to the Issuer and such Depositary. Thereupon, the Issuer shall execute and the
Trustee shall authenticate and deliver, without charge:

     (i) to each Person specified by the Depositary a new Security or Securities
of the same series, of any authorized denomination as requested by such Person in an
aggregate principal amount equal to and in exchange for such Person’s beneficial interest
in the Global Security; and

     (ii) to the Depositary a new Global Security in a denomination equal to the
difference, if any, between the principal amount of the surrendered Global Security and the
aggregate principal amount of Securities delivered to holders thereof.

     Upon the exchange of a Global Security for Securities in definitive form, such Global
Security shall be cancelled by the Trustee. Securities issued in exchange for a Global Security
pursuant to this subsection (b) shall be registered in such names and in such authorized
denominations as the Depositary for such Global Security, pursuant to instructions from its direct
or indirect participants or otherwise, shall instruct the Trustee. The Trustee shall deliver such
Securities to the Persons in whose names such Securities are so registered.

SECTION 3.06 Mutilated, Destroyed, Lost and Stolen Securities.

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

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

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

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

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

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

SECTION 3.07 Payment of Interest; Interest Rights Preserved.

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

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

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

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

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

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

SECTION 3.08 Persons Deemed Owners.

     Prior to due presentment of a Security for registration of transfer, the Issuer, any
Guarantor, the Trustee and any agent of the Issuer, any Guarantor or the Trustee may treat the
Person in whose name such Security is registered as the owner of such Security for the purpose of
receiving payment of principal of (and premium, if any) and (subject to Section 3.07) interest on
such Security and for all other purposes whatsoever, whether or not such Security be overdue, and
none of the Issuer, any Guarantor, the Trustee or any agent of the Issuer, any Guarantor or the
Trustee shall be affected by notice to the contrary.

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SECTION 3.09 Cancellation.

     All Securities surrendered for payment, redemption, conversion, registration of
transfer or exchange or for credit against any sinking fund payment or analogous obligation shall,
if surrendered to any Person other than the Trustee, be delivered to the Trustee and promptly shall
be cancelled by it and, if surrendered to the Trustee, shall be promptly cancelled by it. The
Issuer or any Guarantor may at any time deliver to the Trustee for cancellation any Securities
previously authenticated and delivered hereunder which the Issuer or such Guarantor may have
acquired in any manner whatsoever, and all Securities so delivered promptly shall be cancelled by
the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities
cancelled as provided in this Section, except as expressly permitted by this Indenture. All
cancelled Securities held by the Trustee shall be disposed of in accordance with the Trustee’s
customary procedures unless directed by an Issuer Order. The acquisition of any Securities by the
Issuer or any such Guarantor shall not operate as a redemption or satisfaction of the Indebtedness
represented thereby unless and until such Securities are surrendered to the Trustee for
cancellation. Permanent Global Securities shall not be destroyed until exchanged in full for
definitive Securities or until payment thereon is made in full.

SECTION 3.10 Computation of Interest.

     Except as otherwise specified as contemplated by Section 3.01 for Securities of any
series, interest on the Securities of each series shall be computed on the basis of a year of
twelve 30-day months.

SECTION 3.11 CUSIP Numbers.

     The Issuer in issuing the Securities may use “CUSIP” numbers (if then generally in
use), and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption as a convenience
to Holders; provided that, any such notice may state that no representation is made as to the
correctness of such numbers either as printed on the Securities or as contained in any notice of a
redemption and that reliance may be placed only on the other identification numbers printed on the
Securities, and any such redemption shall not be affected by any defect in or omission of such
numbers. The Issuer will promptly notify the Trustee in writing of any change in the “CUSIP”
numbers.

ARTICLE FOUR

SUBORDINATION OF SECURITIES

SECTION 4.01 Agreement To Subordinate.

     (a) The Issuer agrees, and each Holder by accepting a Security of any series agrees,
that the Indebtedness evidenced by the Securities is subordinated in right of payment, to the
extent and in the manner provided in this Article Four, to the prior payment in full in cash or
Cash Equivalents of all Senior Indebtedness of the Issuer and that the subordination is for the
benefit of and enforceable by the holders of such Senior Indebtedness. The Securities shall in all
respects rank pari passu with all other Senior Subordinated Indebtedness of the Issuer and shall
rank senior to all existing and future Subordinated Indebtedness of the Issuer; and only
Indebtedness of the Issuer that is Senior Indebtedness of the Issuer shall rank senior to the
Securities in accordance with the provisions set forth herein. All provisions of this Article Four
shall be subject to Section 4.12.

     (b) Each Guarantor agrees, and each Holder by accepting a Security of any series
agrees, that the Indebtedness evidenced by the Guarantees is subordinated in right of payment, to
the extent and in the manner provided in this Article Four, to the prior payment in full in cash or
Cash Equivalents of all Senior Indebtedness of such Guarantor and that the subordination is for the
benefit of and enforceable by the holders of such Senior Indebtedness. The Guarantees shall in all
respects rank pari passu with all other Senior Subordinated Indebtedness of the Issuer and shall
rank senior to all existing and future Subordinated Indebtedness of the Issuer; and only
Indebtedness of the Guarantor that is Senior

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Indebtedness of such Guarantor shall rank senior to the Guarantees in accordance with the
provisions set forth herein. All provisions of this Article Four shall be subject to Section 4.12.

SECTION 4.02 Liquidation, Dissolution, Bankruptcy.

     Upon any distribution to creditors of the Issuer in a liquidation or dissolution of
the Issuer or in a bankruptcy, reorganization, insolvency, receivership or similar proceeding
relating to the Issuer or its property, an assignment for the benefit of creditors or any
marshaling of the Issuer’s assets and liabilities, the holders of Senior Indebtedness shall be
entitled to receive payment in full in cash or Cash Equivalents of such Senior Indebtedness and all
outstanding Letter of Credit Obligations shall be fully cash collateralized before the Holders
shall be entitled to receive any payment with respect to the Securities, and until all Senior
Indebtedness is paid in full in cash or Cash Equivalents, any distribution to which the Holders
would be entitled shall be made to the holders of Senior Indebtedness (except that Holders may
receive (i) shares of stock and any debt securities that are subordinated at least to the same
extent as the Securities to (a) Senior Indebtedness and (b) any securities issued in exchange for
Senior Indebtedness and (ii) payments and other distributions made from the trusts described in
Section 5.01).

SECTION 4.03 Default on Senior Indebtedness.

     The Issuer shall not make any payment upon or in respect of the Securities (except
that Holders may receive (i) shares of stock and any debt securities that are subordinated at least
to the same extent as the Securities to (a) Senior Indebtedness and (b) any securities issued in
exchange for Senior Indebtedness and (ii) payments and other distributions made from the trusts
described in Section 5.01) until all Senior Indebtedness has been paid in full in cash or Cash
Equivalents if (i) a default in the payment of the principal of, premium, if any, or interest on,
or of unreimbursed amounts under drawn letters of credit or in respect of bankers’ acceptances or
fees relating to letters of credit or bankers’ acceptances constituting, Designated Senior
Indebtedness occurs and is continuing beyond any applicable period of grace in the indenture,
agreement or other document governing such Designated Senior Indebtedness (a “Payment Default”) or
(ii) any other default occurs and is continuing with respect to Designated Senior Indebtedness that
permits holders of the Designated Senior Indebtedness as to which such default relates to
accelerate its maturity without further notice (except such notice as may be required to effect
such acceleration) or the expiration of any applicable grace periods (a “Non-Payment Default”) and
the Trustee receives a notice of such default (a “Payment Blockage Notice”) from a representative
of holders of such Designated Senior Indebtedness. Payments on the Securities, including any missed
payments, may and shall be resumed (a) in the case of a Payment Default, upon the date on which
such default is cured or waived or shall have ceased to exist or such Designated Senior
Indebtedness shall have been discharged or paid in full in cash or Cash Equivalents and all
outstanding Letter of Credit Obligations shall have been fully cash collateralized and (b) in case
of a Non-Payment Default, the earlier of (x) the date on which such nonpayment default is cured or
waived, (y) 179 days after the date on which the applicable Payment Blockage Notice is received
(each such period, the “Payment Blockage Period”) or (z) the date such Payment Blockage Period
shall be terminated by written notice to the Trustee from the requisite holders of such Designated
Senior Indebtedness necessary to terminate such period or from their representative. No new Payment
Blockage Period may be commenced unless and until 365 days have elapsed since the effectiveness of
the immediately preceding Payment Blockage Notice. However, if any Payment Blockage Notice within
such 365-day period is given by or on behalf of any holders of Designated Senior Indebtedness
(other than the agent under the Senior Credit Facilities), the agent under the Senior Credit
Facilities may give another Payment Blockage Notice within such period. In no event, however, shall
the total number of days during which any Payment Blockage Period or Periods is in effect exceed
179 days in the aggregate during any 365 consecutive day period. No Non-Payment Default that
existed or was continuing on the date of delivery of any Payment Blockage Notice to the Trustee
shall be, or be made,

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the basis for a subsequent Payment Blockage Notice unless such default shall have been cured or
waived for a period of not less than 90 days.

SECTION 4.04 Acceleration of Payment of Securities.

     If payment of the Securities of any series is accelerated because of an Event of
Default, the Issuer or the Trustee shall promptly notify the holders of the Designated Senior
Indebtedness (or their Representative) of the acceleration. If any Designated Senior Indebtedness
is outstanding, the Issuer shall not pay the Securities until five Business Days after such holders
or the Representative of the Designated Senior Indebtedness receive notice of such acceleration
and, thereafter, shall pay the Securities only if this Article Four otherwise permits payment at
that time.

SECTION 4.05 When Distribution Must Be Paid Over.

     If a distribution is made to Holders that because of this Article Four should not have
been made to them, the Holders who receive the distribution shall hold it in trust for holders of
Senior Indebtedness of the Issuer and pay it over to them as their interests may appear.

SECTION 4.06 Subrogation.

     After all Senior Indebtedness of the Issuer is paid in full and until the Securities
are paid in full, Holders shall be subrogated to the rights of holders of such Senior Indebtedness
to receive distributions applicable to Senior Indebtedness. A distribution made under this Article
Four to holders of such Senior Indebtedness which otherwise would have been made to Holders is not,
as between the Issuer and Holders, a payment by the Issuer on such Senior Indebtedness.

SECTION 4.07 Relative Rights.

     This Article Four defines the relative rights of Holders and holders of Senior
Indebtedness of the Issuer. Nothing in this Indenture shall:

     (1) impair, as between the Issuer and Holders, the obligation of the Issuer,
which is absolute and unconditional, to pay principal of and interest on and liquidated
damages in respect of, the Securities in accordance with their terms; or

     (2) prevent the Trustee or any Holder from exercising its available remedies
upon the occurrence of an Event of Default, subject to the rights of holders of Senior
Indebtedness of the Issuer to receive distributions otherwise payable to Holders.

SECTION 4.08 Subordination May Not Be Impaired by Issuer.

     No right of any holder of Senior Indebtedness of the Issuer to enforce the
subordination of the Indebtedness evidenced by the Securities shall be impaired by any act or
failure to act by the Issuer or by its failure to comply with this Indenture.

SECTION 4.09 Rights of Trustee and Paying Agent.

     Notwithstanding Section 4.03, the Trustee or Paying Agent may continue to make
payments on the Securities and shall not be charged with knowledge of the existence of facts that
would prohibit the making of any such payments unless, not less than two Business Days prior to the
date of such payment, a Responsible Officer of the Trustee receives notice satisfactory to it that
payments may not be made under this Article Four. The Issuer, the Registrar, the Paying Agent, a
Representative or a holder of Senior Indebtedness of the Issuer may give the notice; provided,
however, that, if an issue of Senior Indebtedness of the Issuer has a Representative, only the
Representative may give the notice.

     The Trustee in its individual or any other capacity may hold Senior Indebtedness of
the Issuer with the same rights it would have if it were not Trustee. The Registrar and the Paying
Agent may do the same with like rights. The Trustee shall be entitled to all the rights set forth
in this Article Four with

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respect to any Senior Indebtedness of the Issuer which may at any time be held by it, to the same
extent as any other holder of such Senior Indebtedness; and nothing in Article Seven shall deprive
the Trustee of any of its rights as such holder. Nothing in this Article Four shall apply to claims
of, or payments to, the Trustee under or pursuant to Section 7.07.

SECTION 4.10 Distribution or Notice to Representative.

     Whenever a distribution is to be made or a notice given to holders of Senior
Indebtedness of the Issuer, the distribution may be made and the notice given to their
Representative (if any).

SECTION 4.11 Article Four Not to Prevent Events of Default or Limit Right to Accelerate.

     The failure to make a payment pursuant to the Securities by reason of any provision in
this Article Four shall not be construed as preventing the occurrence of an Event of Default.
Nothing in this Article Four shall have any effect on the right of the Holders or the Trustee to
accelerate the maturity of the Securities.

SECTION 4.12 Trust Moneys Not Subordinated.

     Notwithstanding anything contained herein to the contrary, payments from money or the
proceeds of Government Securities held in trust under Article 5 by the Trustee for the payment of
principal of and interest on the Securities shall not be subordinated to the prior payment of any
Senior Indebtedness of the Issuer or subject to the restrictions set forth in this Article Four,
and none of the Holders shall be obligated to pay over any such amount to the Issuer or any holder
of Senior Indebtedness of the Issuer or any other creditor of the Issuer.

SECTION 4.13 Trustee Entitled to Rely.

     Upon any payment or distribution pursuant to this Article Four, the Trustee and the
Holders shall be entitled to rely (i) upon any order or decree of a court of competent jurisdiction
in which any proceedings of the nature referred to in Section 4.02 are pending, (ii) upon a
certificate of the liquidating trustee or agent or other Person making such payment or distribution
to the Trustee or to the Holders or (iii) upon the Representatives for the holders of Senior
Indebtedness of the Issuer for the purpose of ascertaining the Persons entitled to participate in
such payment or distribution, the holders of such Senior Indebtedness and other Indebtedness of the
Issuer, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon
and all other facts pertinent thereto or to this Article Four. In the event that the Trustee
determines, in good faith, that evidence is required with respect to the right of any Person as a
holder of Senior Indebtedness of the Issuer to participate in any payment or distribution pursuant
to this Article Four, the Trustee may request such Person to furnish evidence to the reasonable
satisfaction of the Trustee as to the amount of such Senior Indebtedness held by such Person, the
extent to which such Person is entitled to participate in such payment or distribution and other
facts pertinent to the rights of such Person under this Article Four, 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. The provisions of Sections 7.01 and 7.03 shall be
applicable to all actions or omissions of actions by the Trustee pursuant to this Article Four.

SECTION 4.14 Trustee to Effectuate Subordination.

     Each Holder by accepting a Security of any series authorizes and directs the Trustee
on his behalf to take such action as may be necessary or appropriate to acknowledge or effectuate
the subordination between the Holders and the holders of Senior Indebtedness of the Issuer as
provided in this Article Four and appoints the Trustee as attorney-in-fact for any and all such
purposes.

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SECTION 4.15 Trustee Not Fiduciary for Holders of Senior Indebtedness.

     The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior
Indebtedness of the Issuer and shall not be liable to any such holders if it shall mistakenly pay
over or distribute to Holders or the Issuer or any other Person, money or assets to which any
holders of Senior Indebtedness of the Issuer shall be entitled by virtue of this Article Four or
otherwise.

SECTION 4.16 Reliance by Holders of Senior Indebtedness on Subordination Provisions.

     (a) Each Holder by accepting a Security of any series acknowledges and agrees that
the foregoing subordination provisions are, and are intended to be, an inducement and a
consideration to each holder of any Senior Indebtedness of the Issuer, whether such Senior
Indebtedness was created or acquired before or after the issuance of the Securities, to acquire and
continue to hold, or to continue to hold, such Senior Indebtedness and such holder of such Senior
Indebtedness shall be deemed conclusively to have relied on such subordination provisions in
acquiring and continuing to hold, or in continuing to hold, such Senior Indebtedness.

     (b) Without in any way limiting the generality of paragraph (a) of this Section, 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, without incurring responsibility to the Holders and without
impairing or releasing the subordination provided in this Article Four or the obligations hereunder
of the Holders to the holders of Senior Indebtedness, do any one or more of the following:
(1) 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; (2) sell, exchange, release or otherwise deal with any property
pledged, mortgaged or otherwise securing Senior Indebtedness; (3) release any Person liable in any
manner for the collection of Senior Indebtedness; and (4) exercise or refrain from exercising any
rights against the Issuer, any Guarantor or any other Person.

SECTION 4.17 Trustee’s Compensation Not Prejudiced.

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

SECTION 4.18 Defeasance.

     The terms of this Article Four shall not apply to payments from money or the proceeds
of U.S. Government Securities held in trust by the Trustee for the payment of principal of and
interest on the Securities pursuant to the provisions described in Section 5.03.

ARTICLE FIVE

SATISFACTION AND DISCHARGE; DEFEASANCE

SECTION 5.01 Satisfaction and Discharge of Securities of any Series.

     The Issuer shall be deemed to have satisfied and discharged the entire Indebtedness on
all the Securities of any particular series (except as to any surviving rights of registration of
transfer or exchange of Securities herein expressly provided for), and the Trustee, upon Issuer
Request and at the expense of the Issuer, shall execute such instruments as may be requested by the
Issuer acknowledging satisfaction and discharge of such Indebtedness, when

     (a) either

     (1) all Securities theretofore authenticated and delivered (other than
(i) Securities which have been destroyed, lost or stolen and which have been replaced or
paid as provided in Section 3.06 and (ii) Securities for whose payment money has
theretofore been deposited in trust or segregated

25

 

and held in trust by the Issuer and thereafter repaid to the Issuer or discharged from such
trust, as provided in Section 11.03) have been delivered to the Trustee for cancellation;
or

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

     (A) have become due and payable, or

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

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

and the Issuer or any Guarantor, in the case of (A), (B) or (C) above, has deposited or caused to
be deposited with the Trustee as trust funds in trust for the purpose an amount sufficient to pay
and discharge the entire Indebtedness on such Securities not theretofore delivered to the Trustee
for cancellation (other than Securities which have been destroyed, lost or stolen and which have
been replaced or paid as provided in Section 3.06), for principal (and premium, if any) and
interest to the date of such deposit (in the case of Securities which have become due and payable)
or to the Stated Maturity or Redemption Date, as the case may be;

     (b) the Issuer or any Guarantor has paid or caused to be paid all other sums payable
hereunder by the Issuer or any Guarantor; and

     (c) the Issuer has delivered to the Trustee an Officers’ Certificate and an Opinion
of Counsel, each stating that all conditions precedent herein provided for relating to the
satisfaction and discharge of the entire Indebtedness on all Securities of such series have been
complied with.

     Notwithstanding the satisfaction and discharge of this Indenture, the obligations of
the Issuer and each Guarantor to the Trustee under Section 7.07 and, if money shall have been
deposited with the Trustee pursuant to subclause (B) of clause (2) of this Section, the obligations
of the Trustee under Section 5.03 and the last paragraph of Section 11.03 shall survive.

SECTION 5.02 Option to Effect Legal Defeasance or Covenant Defeasance.

     The Issuer may, at the option of its Board of Directors evidenced by a supplemental
indenture or, at any time, by a Board Resolution set forth in an Officers’ Certificate with respect
to the Securities of any series, unless otherwise specified pursuant to Section 3.01 with respect
to a particular series of Securities, elect to have either Section 5.03 or 5.04 be applied to all
of the Outstanding Securities of that series upon compliance with the conditions set forth below in
this Article Five.

SECTION 5.03 Legal Defeasance and Discharge.

     Upon the Issuer’s exercise under Section 5.02 of the option applicable to this
Section 5.03, the Issuer shall be deemed to have been discharged from its obligations with respect
to all Outstanding Securities of the particular series and any coupons appertaining thereto on the
date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this
purpose, such Legal Defeasance means that the Issuer shall be deemed to have paid and discharged
all the obligations relating to the Outstanding Securities of that series, including any coupons
appertaining thereto, and the Securities of that series, including any coupons appertaining
thereto, shall thereafter be deemed to be “outstanding” only for the purposes of Section 5.06 and
the other Sections of this Indenture referred to below in this Section 5.03, and to have satisfied
all of its other obligations under such Securities and any coupons appertaining thereto and this
Indenture and cured all then existing Events of Default (and the Trustee, on demand of and at the
expense of the Issuer, shall execute proper instruments acknowledging the same), except for the
following which shall survive until otherwise terminated or discharged hereunder: (i) the Issuer’s
or any Guarantor’s obligations, as the case may be, with respect to Securities of such series under
Sections 3.05, 3.06, 11.02 and 11.03, (ii) rights of Holders to receive payments of the

26

 

principal of (and premium, if any) and interest, if any, on the Securities of such series as they
shall become due from time to time and other rights, duties and obligations of Holders as
beneficiaries hereof with respect to the amounts so deposited with the Trustee, (iii) the rights,
obligations and immunities of the Trustee hereunder (for which purposes the Securities of such
series shall be deemed outstanding), (iv) this Article Five and the obligations set forth in
Section 5.06 hereof and (v) the obligations of the Issuer and each Guarantor under Section 7.07
hereof.

     Subject to compliance with this Article Five, the Issuer may exercise its option under
Section 5.03 notwithstanding the prior exercise of its option under Section 5.04 with respect to
the Securities of a particular series and any coupons appertaining thereto.

SECTION 5.04 Covenant Defeasance.

     Upon the Issuer’s exercise under Section 5.02 of the option applicable to this
Section 5.04, the Issuer shall be released from any obligations under the covenants contained in
Sections 11.04, 11.05, 11.06, 11.08 and 11.09 hereof or established pursuant to Section 3.01 or
10.01 hereof with respect to the Outstanding Securities of the particular series on and after the
date the conditions set forth below are satisfied (hereinafter, “Covenant Defeasance”), and the
Securities of that series and any coupons appertaining thereto shall thereafter be deemed not
“Outstanding” for the purposes 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 (it being understood that such Securities
shall not be deemed outstanding for accounting purposes). For this purpose, such Covenant
Defeasance means that, with respect to the Outstanding Securities of that series and any coupons
appertaining thereto, the Issuer 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 Event of Default under Section 6.01(4) or any Event of
Default specified pursuant to Section 3.01 or 10.01 but, except as specified above, the remainder
of this Indenture and the Securities of that series shall be unaffected thereby.

SECTION 5.05 Conditions to Legal or Covenant Defeasance.

     The following shall be the conditions to the application of either Section 5.03 or
Section 5.04 to the Outstanding Securities of a particular series:

     (a) the Issuer must irrevocably deposit, or cause to be irrevocably deposited, with
the Trustee for the Securities of that series, in trust, for the benefit of the Holders of the
Securities of that series, cash in the currency or currency unit in which the Securities of that
series are payable (except as otherwise specified pursuant to Section 301 for the Securities of
that series), U.S. Government Obligations or a combination thereof in such amounts as will be
sufficient to pay the principal of, premium, if any, and interest, if any, due on the outstanding
Securities of that series and any related coupons at the Stated Maturity, or on the applicable
Redemption Date, as the case may be, with respect to the outstanding Securities of that series and
any related coupons;

     (b) in the case of Legal Defeasance only, the Issuer shall have delivered to the
Trustee for the Securities of that series (1) an Opinion of Counsel confirming that, subject to
customary assumptions and exclusions, since the date on which Securities of such series were
originally issued, there has been a change in the applicable U.S. Federal income tax law, to the
effect that, and based thereon such Opinion of Counsel shall confirm that, subject to customary
assumptions and exclusions, the Holders of the Outstanding Securities of that series will not
recognize income, gain or loss for U.S. Federal income tax purposes as a result of such Legal
Defeasance and will be subject to U.S. Federal income tax on the same amounts, in the same manner
and at the same times as would have been the case if such Legal Defeasance had not occurred or
(2) a copy of a ruling or other formal statement or action to that effect received from or
published by the U.S. Internal Revenue Service;

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     (c) in the case of Covenant Defeasance only, the Issuer shall have delivered to the
Trustee for the Securities of that series an Opinion of Counsel confirming that, subject to
customary assumptions and exclusions, the Holders of the Outstanding Securities of that series will
not recognize income, gain or loss for U.S. Federal income tax purposes as a result of such
Covenant Defeasance and will be subject to such tax on the same amounts, in the same manner and at
the same times as would have been the case if such Covenant Defeasance had not occurred;

     (d) no Event of Default or event which with the giving of notice or the lapse of
time, or both, would become an Event of Default with respect to the Securities of that series
(other than any event resulting from the borrowing of funds to be applied to make such deposit)
shall have occurred and be continuing on the date of such deposit;

     (e) such Legal Defeasance or Covenant Defeasance shall not result in a breach or
violation of, or constitute a default under any material agreement (other than this Indenture) or
instrument to which the Issuer is a party or by which the Issuer is bound; and

     (f) the Issuer shall have delivered to the Trustee for the Securities of that
series an Officers’ Certificate and an Opinion of Counsel (which opinion of counsel may be subject
to customary assumptions and exclusions) each stating that all conditions precedent provided for or
relating to the Legal Defeasance or the Covenant Defeasance, as the case may be, have been complied
with.

     As used in this Article Five, “U.S. Government Obligations” means securities that are
(i) direct obligations of the United States of America for 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 of America the timely payment of which is
unconditionally guaranteed as a full faith and credit obligation of the United States of America,
which, in either case under clauses (i) or (ii), are not callable or redeemable at the option of
the issuer thereof, and will also include a depository receipt issued by a bank or trust company as
custodian with respect to any such U.S. Government Obligation or a specified 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 depository 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 depository 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
depository receipt.

SECTION 5.06 Survival of Certain Obligations.

     Notwithstanding the satisfaction and discharge of the Securities of a particular
series referred to in Sections 5.01, 5.02, 5.04, or 5.05, the respective obligations of the Issuer
and the Trustee for the Securities of a particular series under Sections 3.03, 3.04, 3.05, 3.06,
3.09, 5.07, 5.08, 5.09 and 6.08, Article Seven, and Sections 8.01, 8.02, 11.02, 11.03 and 11.04,
shall survive with respect to Securities of that series until the Securities of that series are no
longer outstanding, and thereafter the obligations of the Issuer and the Trustee for the Securities
of a particular series with respect to that series under Sections 5.07, 5.08 and 5.09 shall
survive. Nothing contained in this Article Five shall abrogate any of the obligations or duties of
the Trustee of any series of Securities under this Indenture.

SECTION 5.07 Application of Trust Money.

     Subject to the provisions of the last paragraph of Section 11.03, all money deposited
with the Trustee pursuant to Sections 5.01 and 5.02 shall be held in trust and applied by it, in
accordance with the provisions of the Securities and this Indenture, to the payment, either
directly or through any Paying Agent (including the Issuer or any Guarantor acting as its own
Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal (and
premium, if any) and interest for whose payment such money has been deposited with the Trustee.

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SECTION 5.08 Repayment of Moneys Held by Paying Agent.

     Any money deposited with the Trustee or any other Paying Agent remaining unclaimed by
the Holders of any Securities for two years after the date upon which the principal of or interest
on such Securities shall have become due and payable, shall be repaid to the Issuer by the Trustee
or any such other Paying Agent and such Holders shall thereafter be entitled to look to the Issuer
only as general creditors for payment thereof (unless otherwise provided by law); provided,
however, that, before the Trustee or any such other Paying Agent is required to make any such
payment to the Issuer, the Trustee may, upon the written request of the Issuer and at the expense
of the Issuer, cause to be published once in an Authorized Newspaper a notice that such money
remains unclaimed and that, after the date set forth in said notice, the balance of such money then
unclaimed will be returned to the Issuer.

SECTION 5.09 Reinstatement.

     If the Trustee is unable to apply any money or U.S. Government Obligations in
accordance with Section 5.01 or 5.02, as the case may be, 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 Issuer’s and each Guarantor’s obligations under this
Indenture and the Securities shall be revived and reinstated as though no deposit had occurred
pursuant to Section 5.01 or 5.02, as the case may be, until such time as the Trustee is permitted
to apply all such money or U.S. Government Obligations in accordance with Section 5.01 or 5.02, as
the case may be; provided that, if the Issuer or any Guarantor has made payment of principal of, or
interest on any Securities because of the reinstatement of its obligations, the Issuer 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.

ARTICLE SIX

REMEDIES OF THE TRUSTEE AND HOLDERS ON EVENT OF DEFAULT

SECTION 6.01 Events of Default.

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

     (1) default in the payment of interest upon any Security of that series when
it becomes due and payable, and continuance of such default for a period of 30 days
(whether or not such default shall be by reason of the operation of the provisions of
Article Four); or

     (2) default in the payment of the principal of (or premium, if any, on) any
Security of that series at its Maturity (whether or not such default shall be by reason of
the operation of the provisions of Article Four); or

     (3) default in the deposit of any sinking fund payment, when and as due by
the terms of any Security of that series (whether or not such default shall be by reason of
the operation of the provisions of Article Four); or

     (4) default in the performance, or breach, of any covenant or warranty of
the Issuer, any Significant Subsidiary or any Guarantor in this Indenture or any Security
of that series (other than a covenant or warranty a default in whose performance or whose
breach is elsewhere in this Section specifically dealt with or which has expressly been
included in this Indenture solely for the benefit of series of Securities other than that
series), and continuance of such default or breach for a period of 90 days after there has
been given, by registered or certified mail, to the Issuer or any Guarantor by the Trustee
or to the Issuer or any Guarantor and the Trustee by the Holders of at least 25% in
principal amount of the Outstanding Securities of that series a written notice

29

 

specifying such default or breach and requiring it to be remedied and stating that such
notice is a “Notice of Default” hereunder; or

     (5) the entry by a court having jurisdiction in the premises of (A) a decree
or order for relief in respect of the Parent Guarantor, the Issuer or any Significant
Subsidiary in an involuntary case or proceeding under any applicable Bankruptcy Law or
(B) a decree or order adjudging the Parent Guarantor, the Issuer or any Significant
Subsidiary a bankrupt or insolvent, or approving as properly filed a petition seeking
reorganization, arrangement, adjustment or composition of or in respect of the Parent
Guarantor, the Issuer or any Significant Subsidiary under any applicable federal or state
law, or appointing a Custodian of the Parent Guarantor, the Issuer or any Significant
Subsidiary or of any substantial part of their property, or ordering the winding up or
liquidation of its affairs, and the continuance of any such decree or order for relief or
any such other decree or order unstayed and in effect for a period of 90 consecutive days;
or

     (6) the commencement by the Parent Guarantor, the Issuer or any Significant
Subsidiary of a voluntary case or proceeding under any applicable federal or state
bankruptcy, insolvency, reorganization or other similar law or of any other case or
proceeding to be adjudicated a bankrupt or insolvent, or the consent by it to the entry of
a decree or order for relief in respect of the Parent Guarantor, the Issuer or any
Significant Subsidiary in an involuntary case or proceeding under any applicable federal or
state bankruptcy, insolvency, reorganization or other similar law or to the commencement of
any bankruptcy or insolvency case or proceeding against it, or the filing by it of a
petition or answer or consent seeking reorganization or relief under any applicable federal
or state law, or the consent by it to the filing of such petition or to the appointment of
or taking possession by a Custodian of the Parent Guarantor, the Issuer or any Significant
Subsidiary of any substantial part of its property, or the making by it of an assignment
for the benefit of creditors, or the admission by it in writing of its inability to pay its
debts generally as they become due, or the taking of corporate action by the Parent
Guarantor, the Issuer or any Significant Subsidiary in furtherance of any such action, or
the taking of any comparable action under any foreign laws relating to insolvency; or

     (7) any Guarantee shall for any reason cease to be, or shall for any reason
be asserted in writing by any Guarantor not to be, in full force and effect and enforceable
in accordance with its terms, except to the extent contemplated by the Indenture and any
such Guarantee; or

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

SECTION 6.02 Acceleration of Maturity; Rescission and Annulment.

     If an Event of Default with respect to Securities of any series at the time
Outstanding (other than of a type specified in Section 6.01(5) or (6)) occurs and is continuing,
then in every such case the Trustee or the Holders of not less than 25% in principal amount of the
Outstanding Securities of that series may declare the principal amount (or, if the Securities of
that series are Original Issue Discount Securities, such portion of the principal amount as may be
specified in the terms of that series) of all of the Securities of that series to be due and
payable immediately, by a notice in writing to the Issuer or a Guarantor (and to the Trustee if
given by Holders), and upon any such declaration such principal amount (or specified amount) shall
become immediately due and payable, anything in this Indenture or in any of the Securities of such
series to the contrary notwithstanding; provided, however, that payment of principal of (and
premium, if any) and interest on the Securities of such series shall remain subordinated to the
extent provided in Article Four.

     At any time after such a declaration of acceleration with respect to Securities of any
series has been made and before a judgment or decree for payment of the money due has been obtained
by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal
amount of the

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Outstanding Securities of that series, by written notice to the Issuer or a Guarantor and the
Trustee, may rescind and annul such declaration and its consequences if

     (1) the Issuer or any Guarantor has paid or deposited with the Trustee a sum
sufficient to pay

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

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

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

     (D) all sums paid or advanced by the Trustee hereunder and the
reasonable compensation, expenses, disbursements and advances of the Trustee, its
agents and counsel and any other amounts due to the Trustee under Section 7.07
hereof;

          and

     (2) all Events of Default with respect to Securities of that series, other
than the nonpayment of the principal of Securities of that series which have become due
solely by such declaration of acceleration, have been cured or waived as provided in
Section 6.13.

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

     Notwithstanding the foregoing, in the case of an Event of Default arising under
Section 6.01(5) or (6), all outstanding Securities shall IPSO FACTO become due and payable without
further action or notice.

SECTION 6.03 Collection of Indebtedness and Suits for Enforcement by Trustee.

     The Issuer covenants that if

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

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

     (3) default is made in the making or satisfaction of any sinking fund
payment or analogous obligation when the same becomes due pursuant to the terms of any
Security,

the Issuer, upon demand of the Trustee, will pay to it, for the benefit of the Holders of such
Securities, the whole amount then due and payable on such Securities for principal, including any
sinking fund payment or analogous obligations (and premium, if any) and interest, if any, and, to
the extent that payment of such interest shall be legally enforceable, interest on any overdue
principal (and premium, if any) and on any overdue interest, at the rate or rates prescribed
therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient
to cover the costs and expenses of collection, including the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel and any other amounts due to the
Trustee under Section 7.07 hereof.

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

     If an Event of Default with respect to Securities of any series occurs and is
continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the
rights of the Holders of Securities of such series by such appropriate judicial proceedings as the
Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific
enforcement of any covenant

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or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce
any other proper remedy.

SECTION 6.04 Trustee May File Proofs of Claim.

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

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

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

     and any Custodian in any such judicial proceeding is hereby authorized by each Holder to make such
payments to the Trustee and, in the event that the Trustee shall consent to the making of such
payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any
other amounts due the Trustee under Section 7.07.

     Nothing herein contained shall be deemed to authorize the Trustee to authorize or
consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement,
adjustment or composition affecting the Securities or the rights of any Holder thereof or to
authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding except
as aforesaid, to vote for the election of a trustee in bankruptcy or similar person or to
participate as a member, voting or otherwise, on any committee of creditors.

SECTION 6.05 Trustee May Enforce Claims without Possession of Securities.

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

SECTION 6.06 Application of Money Collected.

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

     FIRST: To the payment of all amounts due the Trustee under Section 7.07;

     SECOND: To the payment of the amounts then due and unpaid for principal of (and
premium, if any) and interest on the Securities in respect of which or for the benefit of which
such money has been

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collected, ratably, without preference or priority of any kind, according to the amounts due and
payable on such Securities for principal (and premium, if any) and interest, respectively; and

     THIRD: To the payment of the remainder, if any, to the Issuer, its successors or
assigns, or to whomever may be so lawfully entitled to receive the same, or as a court of competent
jurisdiction may direct.

SECTION 6.07 Limitation on Suits.

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

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

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

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

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

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

it being understood and intended that no one or more of such Holders shall have any right in any
manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb
or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or
preference over any other of such Holders or to enforce any right under this Indenture, except in
the manner herein provided and for the equal and ratable benefit of all of such Holders.

SECTION 6.08 Unconditional Right of Holders to Receive Principal, Premium and Interest.

     Notwithstanding any other provision in this Indenture, the Holder of any Security
shall have the right, which is absolute and unconditional, to receive payment (subject to the
provisions of Article Four) of the principal of (and premium, if any) and (subject to Section 3.07)
interest on such Security on the Stated Maturity or Maturities expressed in such Security (or, in
the case of redemption, on the Redemption Date) and the right to institute suit for the enforcement
of any such payment and such rights shall not be impaired without the consent of such Holder.

SECTION 6.09 Restoration of Rights and Remedies.

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

SECTION 6.10 Rights and Remedies Cumulative.

     Except as otherwise provided with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities in the last paragraph of Section 3.06, no right or remedy
herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of
any other right or remedy, and every right and remedy shall, to the extent permitted by law, be
cumulative and in addition to every other right and remedy given hereunder or now or hereafter
existing at law or in equity or

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otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not
prevent the concurrent assertion or employment of any other appropriate right or remedy.

SECTION 6.11 Delay or Omission Not Waiver.

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

SECTION 6.12 Control by Holders.

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

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

     (2) the Trustee shall not determine that the action so directed would be
unjustly prejudicial to the Holders of the Securities of such series not taking part in
such direction, or to the Holders of the Securities of any other series, and

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

SECTION 6.13 Waiver of Past Defaults.

     Subject to Section 6.02, the Holders of not less than a majority in principal amount
of the Outstanding Securities of any series may on behalf of the Holders of all the Securities of
such series waive any past default hereunder with respect to such series and its consequences,
except a default

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

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

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

SECTION 6.14 Undertaking for Costs.

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

SECTION 6.15 Waiver of Stay or Extension Laws.

     The Issuer and each Guarantors covenants (to the extent that it may lawfully do so)
that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the
benefit or advantage

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of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may
affect the covenants or the performance of this Indenture; and the Issuer and each Guarantor (to
the extent that they may lawfully do so) hereby expressly waives all benefit or advantage of any
such law and covenants that it will not hinder, delay or impede the execution of any power herein
granted to the Trustee, but will suffer and permit the execution of every such power as though no
such law had been enacted.

ARTICLE SEVEN

THE TRUSTEE

SECTION 7.01 Certain Duties and Responsibilities.

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

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

     (2) in the absence of bad faith on its part, the Trustee may conclusively
rely, as to the truth of the statements and the correctness of the opinions expressed
therein, upon certificates or opinions furnished to the Trustee and conforming to the
requirements of this Indenture; but in the case of any such certificates or opinions which
by any provision hereof are specifically required to be furnished to the Trustee, the
Trustee shall be under a duty to examine the same to determine whether or not they conform
to the requirements of this Indenture but need not verify the accuracy of the contents
thereof or whether procedures specified by or pursuant to the provisions of this Indenture
have been followed in the preparation thereof.

     (b) In case an Event of Default has occurred and is continuing, the Trustee shall
exercise such of the rights and powers vested in it by this Indenture, and use the same degree of
care and skill in their exercise, as a prudent man would exercise or use under the circumstances in
the conduct of his own affairs.

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

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

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

     (3) the Trustee shall not be liable with respect to any action taken or
omitted to be taken by it in good faith in accordance with the direction of the Holders of
a majority in principal amount of the Outstanding Securities of any series, determined as
provided in Section 6.12, relating to the time, method and place of conducting any
proceeding for any remedy available to the Trustee, or exercising any trust or power
conferred upon the Trustee, under this Indenture with respect to the Securities of such
series;

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

     (5) Whether or not therein expressly so provided, every provision of this
Indenture relating to the conduct or affecting the liability of or affording protection to
the Trustee shall be subject to the provisions of this Section.

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SECTION 7.02 Notice of Defaults.

     Within 90 days after the occurrence of any default hereunder with respect to the
Securities of any series, the Trustee shall transmit by mail to all Holders of Securities of such
series, as their names and addresses appear in the Security Register, notice of such default
hereunder known to the Trustee, unless such default shall have been cured or waived; provided,
however, that, except in the case of a default in the payment of the principal of (or premium, if
any) or interest on any Security of such series or in the payment of any sinking fund or analogous
obligation installment with respect to Securities of such series, the Trustee shall be protected in
withholding such notice if and so long as the board of directors, the executive committee or a
trust committee of directors or Responsible Officers of the Trustee in good faith determine that
the withholding of such notice is in the interest of the Holders of Securities of such series; and
provided, further, that in the case of any default of the character specified in Section 6.01(4)
with respect to Securities of such series, no such notice to Holders shall be given until at least
30 days after the occurrence thereof. For the purpose of this Section, the term “default” means any
event which is, or after notice or lapse of time or both would become, an Event of Default with
respect to Securities of such series.

SECTION 7.03 Certain Rights of Trustee.

     Subject to the provisions of Section 7.01:

     (a) the Trustee may rely and shall be protected in acting or refraining from acting
upon any resolution, certificate, statement, instrument, opinion, report, notice, request,
direction, consent, order, bond, debenture, note, other evidence of Indebtedness or other paper or
document believed by it to be genuine and to have been signed or presented by the proper party or
parties;

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

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

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

     (e) the Trustee shall be under no obligation to exercise any of the rights or powers
vested in it by this Indenture at the request or direction of any of the Holders pursuant to this
Indenture, unless such Holders shall have offered to the Trustee reasonable security or indemnity
against the costs, expenses and liabilities which might be incurred by it in compliance with such
request or direction;

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

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

     (h) the Trustee shall not be deemed to have notice or knowledge of any matter unless
a Responsible Officer assigned to and working in the Trustee’s corporate trust department has
actual

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knowledge thereof or unless written notice thereof is received by the Trustee at the Corporate
Trust Office and such notice references the Securities generally, the Issuer, a Guarantor or this
Indenture. Whenever reference is made in this Indenture to an Event of Default, such reference
shall, insofar as determining any liability on the part of the Trustee is concerned, be construed
to refer only to an Event of Default of which the Trustee is deemed to have knowledge in accordance
with this paragraph;

     (i) the permissive right of the Trustee to take or refrain from taking any actions
enumerated in this Indenture shall not be construed as a duty;

     (j) in no event shall the Trustee be liable for special, indirect or consequential
loss or damage of any kind whatsoever (including but not limited to lost profits), even if the
Trustee has been advised of the likelihood of such loss or damage and regardless of the form of
action; and

     (k) in no event shall the Trustee be responsible or liable for any failure or delay
in the performance of its obligations under this Indenture arising out of or caused by, directly or
indirectly, forces beyond its reasonable control, including without limitation strikes, work
stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications
or computer (software or hardware) services.

SECTION 7.04 Not Responsible for Recitals or Issuance of Securities.

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

SECTION 7.05 May Hold Securities.

     The Trustee, any Paying Agent, any Security Registrar or any other agent of the Issuer
or any Guarantor, in its individual or any other capacity, may become the owner or pledgee of
Securities and, subject to Sections 7.08 and 7.13, may otherwise deal with the Issuer or such
Guarantor with the same rights it would have if it were not Trustee, Paying Agent, Security
Registrar or such other agent.

SECTION 7.06 Money Held in Trust.

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

SECTION 7.07 Compensation and Reimbursement.

     The Issuer and the Guarantors agree, jointly and severally,

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

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

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

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

     If the Trustee incurs expenses or renders services after the occurrence of an Event of
Default specified in clause (5) or (6) of Section 6.01, the expenses and the compensation for the
services will be intended to constitute expenses of administration under Bankruptcy Law.

     The provisions of this Section 7.07 shall survive the resignation or removal of the
Trustee and the satisfaction, discharge or termination of this Indenture.

SECTION 7.08 Disqualification; Conflicting Interests.

     The Trustee for the Securities of any series issued hereunder shall be subject to the
provisions of Section 310(b) of the Trust Indenture Act during the period of time provided for
therein. In determining whether the Trustee has a conflicting interest as defined in Section 310(b)
of the Trust Indenture Act with respect to the Securities of any series, there shall be excluded
this Indenture with respect to Securities of any particular series of Securities other than that
series. Nothing herein shall prevent the Trustee from filing with the Commission the application
referred to in the second to last paragraph of Section 310(b) of the Trust Indenture Act.

SECTION 7.09 Corporate Trustee Required; Eligibility.

     There shall at all times be a corporate Trustee hereunder which complies with the
requirements of Section 310(a) of the Trust Indenture Act, having a combined capital and surplus of
at least $50,000,000, subject to supervision or examination by federal or state authority and
having its Corporate Trust Office in the Borough of Manhattan, The City of New York. If such
corporation publishes reports of condition at least annually, pursuant to law or to the
requirements of said supervising or examining authority, then for the purposes of this Section the
combined capital and surplus of such corporation shall be deemed to be its combined capital and
surplus as set forth in its most recent report of condition so published. If at any time the
Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall
resign immediately in the manner and with the effect hereinafter specified in this Article.

SECTION 7.10 Resignation and Removal; Appointment of Successor.

     (a) No resignation or removal of the Trustee and no appointment of a successor
Trustee pursuant to this Article shall become effective until the acceptance of appointment by the
successor Trustee in accordance with the applicable requirements of Section 7.11.

     (b) The Trustee may resign at any time with respect to the Securities of one or more
series by giving written notice thereof to the Issuer. If the instrument of acceptance by a
successor Trustee required by Section 7.11 shall not have been delivered to the Trustee within
10 days after the giving of such notice of resignation, the resigning Trustee at the expense of the
Issuer may petition any court of competent jurisdiction for the appointment of a successor Trustee
with respect to the Securities of such series.

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

     (d) If at any time:

     (1) the Trustee shall fail to comply with Section 7.08(a) after written
request therefor by the Issuer or by any Holder who has been a bona fide Holder of a
Security for at least six months, or

     (2) the Trustee shall cease to be eligible under Section 7.09 and shall fail
to resign after written request therefor by the Issuer, any Guarantor or by any such
Holder, or

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

then, in any such case, (i) the Issuer or any Guarantor by a Board Resolution may remove the
Trustee with respect to all Securities, or (ii) subject to Section 6.14, any Holder who has been a
bona fide Holder of a Security for at least six months may, on behalf of himself and all others
similarly situated, petition any court of competent jurisdiction for the removal of the Trustee
with respect to all Securities and the appointment of a successor Trustee or Trustees.

     (e) If the Trustee shall resign, be removed or become incapable of acting, or if a
vacancy shall occur in the office of Trustee for any cause with respect to the Securities of one or
more series, the Issuer, by a Board Resolution, shall promptly appoint a successor Trustee or
Trustees with respect to the Securities of that or those series (it being understood that any such
successor Trustee may be appointed with respect to the Securities of one or more or all of such
series and that at any time there shall be only one Trustee with respect to the Securities of any
particular series) and shall comply with the applicable requirements of Section 7.11. If, within
one year after such resignation, removal or incapability, or the occurrence of such vacancy, a
successor Trustee with respect to the Securities of any series shall be appointed by Act of the
Holders of a majority in principal amount of the Outstanding Securities of such series delivered to
the Issuer and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its
acceptance of such appointment in accordance with the applicable requirements of Section 7.11,
become the successor Trustee with respect to the Securities of such series and to that extent
supersede the successor Trustee appointed by the Issuer. If no successor Trustee with respect to
the Securities of any series shall have been so appointed by the Issuer or the Holders and accepted
appointment in the manner required by Section 7.11, any Holder who has been a bona fide Holder of a
Security of such series for at least six months may, on behalf of himself and all others similarly
situated, petition any court of competent jurisdiction for the appointment of a successor Trustee
with respect to the Securities of such series.

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

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SECTION 7.11 Acceptance of Appointment by Successor.

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

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

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

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

SECTION 7.12 Merger, Conversion, Consolidation or Succession to Business.

     Any corporation or association into which the Trustee may be merged or converted or
with which it may be consolidated, or any corporation or association resulting from any merger,
conversion or consolidation to which the Trustee shall be a party, or any corporation or
association to which all or substantially all of the corporate trust business of the Trustee may be
sold or otherwise transferred, shall be the successor trustee hereunder without any further act. In
case any Securities shall have been authenticated, but not delivered, by the Trustee then in
office, any successor by merger, conversion or consolidation to such authenticating Trustee may
adopt such authentication and deliver the Securities

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so authenticated with the same effect as if such successor Trustee had itself authenticated such
Securities.

SECTION 7.13 Preferential Collection of Claims Against Issuer.

     The Trustee is subject to Section 311(a) of the Trust Indenture Act, excluding any
creditor relationship listed in Section 311(b) of the Trust Indenture Act. A Trustee who has
resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the
extent indicated therein.

ARTICLE EIGHT

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND ISSUER

SECTION 8.01 Issuer to Furnish Trustee Names and Addresses of Holders.

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

     (a) semi-annually, either (i) not later than June 1 and November 1 in each year in
the case of Original Issue Discount Securities of any series which by their terms do not bear
interest prior to Maturity, or (ii) not more than 15 days after each Regular Record Date in the
case of Securities of any other series, a list, each in such form as the Trustee may reasonably
require, of the names and addresses of the Holders of Securities of such series as of the preceding
June 1 or November 1 or as of such Regular Record Date, as the case may be; and

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

     provided, however, that so long as the Trustee is the Security Registrar with respect to Securities
of any series, no such lists need be furnished.

SECTION 8.02 Preservation of Information; Communications to Holders.

     (a) The Trustee shall preserve, in as current a form as is reasonably practicable,
the names and addresses of Holders contained in the most recent list furnished to the Trustee as
provided in Section 8.01 and the names and addresses of Holders received by the Trustee in its
capacity as Security Registrar. The Trustee may destroy any list furnished to it as provided in
Section 8.01 upon receipt of a new list so furnished.

     (b) The rights of Holders to communicate with other Holders with respect to their
rights under this Indenture or under the Securities and the corresponding rights and duties of the
Trustee shall be provided by the Trust Indenture Act.

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

SECTION 8.03 Reports by Trustee to Holders.

     Reports by Trustee to Holders.

     Within 60 days after each May 15 beginning with the May 15 following the date of this
Indenture, and for so long as Securities remain outstanding, the Trustee shall (at the expense of
the Issuer) mail to the Holders of the Securities a brief report dated as of such reporting date
that complies with Section 313(a) of the Trust Indenture Act (but if no event described in
Section 313(a) of the Trustee Indenture Act has occurred with the twelve months preceding the
reporting date, no report need be

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transmitted). The Trustee also shall comply with Section 313(b)(2) of the Trust Indenture Act. The
Trustee shall also transmit by mail all reports as required by Section 313(c) of the Trust
Indenture Act.

     A copy of each report at the time of its mailing to the Holders of Securities shall be
mailed to the Issuer and filed with the SEC and each stock exchange on which the Securities are
listed in accordance with Section 313(d) of the Trustee Indenture Act. The Issuer shall promptly
notify the Trustee when the Securities are listed on any stock exchange and thereafter shall
promptly file all reports with the SEC and such stock exchange as are required to be filed by the
rules and regulations of the SEC and of such stock exchange.

ARTICLE NINE

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

SECTION 9.01 Merger, Consolidation, etc. Only on Certain Terms.

     Neither the Issuer nor any of the Guarantors shall consolidate with or merge into any
other Person or convey, transfer or lease its properties and assets substantially as an entirety to
any Person, unless:

     (1) the Issuer or such Guarantor, as the case may be, shall consolidate with
or merge into another Person or convey, transfer or lease its properties and assets
substantially as an entirety to any Person, the Person formed by such consolidation or into
which the Issuer or such Guarantor, as the case may be, is merged or the Person which
acquires by conveyance or transfer, or which leases, the properties and assets of the
Issuer or such Guarantor, as the case may be, substantially as an entirety shall be (A) in
the case of the Issuer, a Person organized and existing under the laws of the United States
of America, any State thereof or the District of Columbia, (B) in the case of any Guarantor
other than the Parent Guarantor, under the laws of England and Wales; or (C) in the case of
the Parent Guarantor, under the laws of any United States jurisdiction, any state thereof,
Bermuda, England and Wales or any country that is a member of the European Monetary Union
and was a member of the European Monetary Union on January 1, 2004 and shall expressly
assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form
satisfactory to the Trustee, all the obligations of the Issuer or any of the Guarantors, as
the case may be, under this Indenture and the Securities and immediately after such
transaction no Event of Default shall have happened or be continuing; and

     (2) the Issuer or such Guarantor, as the case may be, has delivered to the
Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that (a) such
consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture is
required in connection with such transaction, such supplemental indenture comply with this
Article and that all conditions precedent herein provided for relating to such transaction
have been complied with and (b) in the case of a consolidation with or merger into a Person
organized other than under the laws of Ireland by the Parent Guarantor or the conveyance,
transfer or lease by the Parent Guarantor of its properties and assets substantially as an
entirety to a Person organized other than under the laws of Ireland, Holders will not
recognize income, gain or loss for U.S. Federal income tax purposes as a result of such
consolidation, merger, conveyance, transfer or lease and will be subject to U.S. Federal
income tax on the same amounts, in the same manner and at the same times as would have been
the case if such consolidation, merger, conveyance, transfer or lease had not occurred.

SECTION 9.02 Successor Corporation Substituted.

     (1) Upon any consolidation by the Issuer or any of the Guarantors, as the
case may be, with or merger by the Issuer or such Guarantor into any other Person or any
conveyance, transfer or lease of the properties and assets of the Issuer or such Guarantor
substantially as an entirety in accordance with Section 9.01, the successor Person formed
by such consolidation or into which the

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Issuer or such Guarantor is merged or to which such conveyance, transfer or lease is made
shall succeed to, and be substituted for, and may exercise every right and power of, the
Issuer or such Guarantor, as the case may be, under this Indenture with the same effect as
if such successor Person had been named as the Issuer or such Guarantor herein, and
thereafter, except in the case of a lease, the predecessor corporation shall be relieved of
all obligations and covenants under this Indenture and the Securities.

ARTICLE TEN

SUPPLEMENTAL INDENTURES

SECTION 10.01 Supplemental Indentures without Consent of Holders.

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

     (1) to evidence the succession of another Person to the Issuer or any
Guarantor and the assumption by any such successor of the covenants of the Issuer or any
Guarantor herein and in the Securities (pursuant to Article Nine, if applicable); or

     (2) to add to the covenants of the Issuer or any Guarantor for the benefit
of the Holders of all or any series of Securities (and if such covenants are to be for the
benefit of less than all series of Securities, stating that such covenants are expressly
being included solely for the benefit of such series) or to surrender any right or power
herein conferred upon the Issuer or any Guarantor; or

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

     (4) to add to or change any of the provisions of this Indenture to such
extent as shall be necessary to permit or facilitate the issuance of Securities in bearer
form, registrable or not registrable as to principal, and with or without interest coupons,
or to provide for uncertificated Securities (so long as any “registration-required
obligation” within the meaning of section 163(f)(2) of the Internal Revenue Code of 1986,
as amended, is in registered form for purposes of such section); or

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

     (6) to secure the Securities; or

     (7) to establish the form or terms of Securities of any series as permitted
by Sections 2.01 and 3.01; or

     (8) to evidence and provide for the acceptance of appointment hereunder by a
successor Trustee with respect to the Securities of one or more series and to add to or
change any of the provisions of this Indenture as shall be necessary to provide for or
facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to
the requirements of Section 7.11(b); or

     (9) to cure any ambiguity, to correct or supplement any provision herein
which may be inconsistent with any other provision herein, to eliminate any conflict
between the terms hereof and the Trust Indenture Act or to make any other provision with
respect to matters or questions

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arising under this Indenture, provided such action shall not adversely affect the interests
of the Holders of Securities of any series in any material respect.

SECTION 10.02 Supplemental Indentures with Consent of Holders.

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

     (1) change the Stated Maturity of the principal of, or any installment of
principal of or interest on, any Security, or reduce the principal amount thereof or the
rate of interest thereon or any premium payable upon the redemption thereof, or reduce the
amount of the principal of an Original Issue Discount Security that would be due and
payable upon a declaration of acceleration of the Maturity thereof pursuant to
Section 6.02, or adversely affect any right of repayment at the option of the Holder of any
Security, or reduce the amount of, or postpone the date fixed for, the payment of any
sinking fund or analogous obligation, or impair the right to institute suit for the
enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of
redemption, on or after the Redemption Date), in each case other than the amendment or
waiver in accordance with the terms of this Indenture of any covenant or related definition
included pursuant to Section 3.01 that provides for an offer to repurchase any Securities
of a series upon a sale of assets or change of control transaction, or

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

     (3) modify any of the provisions of this Section, Section 6.13 or
Section 11.07, except to increase any such percentage or to provide that certain other
provisions of this Indenture cannot be modified or waived without the consent of the Holder
of each Outstanding Security affected thereby.

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

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

SECTION 10.03 Execution of Supplemental Indentures.

     In executing, or accepting the additional trusts created by, any supplemental
indenture permitted by this Article or the modifications thereby of the trusts created by this
Indenture, the Trustee shall be entitled to receive, and shall be fully protected in relying upon,
in addition to the documents required by Section 1.02 hereof, an Opinion of Counsel stating that
the execution of such supplemental indenture is authorized or permitted by this Indenture. The
Trustee in its sole discretion may, but shall

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not be obligated to, enter into any such supplemental indenture which adversely affects the
Trustee’s own rights, duties or immunities under this Indenture or otherwise.

SECTION 10.04 Effect of Supplemental Indentures.

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

SECTION 10.05 Conformity with Trust Indenture Act.

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

SECTION 10.06 Reference in Securities to Supplemental Indentures.

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

SECTION 10.07 Notice of Supplemental Indenture.

     Promptly after the execution by the Issuer, each Guarantor and the Trustee of any
supplemental indenture pursuant to Section 10.02, the Issuer shall transmit, in the manner and to
the extent provided in Section 1.05, to all Holders of any series of the Securities affected
thereby, a notice setting forth in general terms the substance of such supplemental indenture.

ARTICLE ELEVEN

COVENANTS

SECTION 11.01 Payment of Principal, Premium and Interest.

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

SECTION 11.02 Maintenance of Office or Agency.

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

     The Issuer may also from time to time designate one or more other offices or agencies
where the Securities of one or more series may be presented or surrendered for any or all such
purposes and may from time to time rescind such designations; provided, however, that no such
designation or rescission

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shall in any manner relieve the Issuer of its obligation to maintain an office or agency in each
Place of Payment for Securities of any series for such purposes. The Issuer will give prompt
written notice to the Trustee of any such designation or rescission and of any change in the
location of any such other office or agency.

SECTION 11.03 Money for Securities Payments to Be Held in Trust.

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

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

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

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

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

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

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

     Any money deposited with the Trustee or any Paying Agent, or then held by the Issuer
or any Guarantor in trust for the payment of the principal of (and premium, if any) or interest on
any Security of any series and remaining unclaimed for two years after such principal (and premium,
if any) or interest has become due and payable shall be paid to the Issuer or any Guarantor on
Issuer Request subject to applicable abandoned property and escheat law, or (if then held by the
Issuer or any Guarantor) shall be discharged from such trust; and the Holder of such Security shall
thereafter, as an unsecured general creditor, look only to the Issuer or any such Guarantor for
payment thereof, and all

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liability of the Trustee or such Paying Agent with respect to such trust money, and all liability
of the Issuer or any such Guarantor as trustee thereof, shall thereupon cease; provided, however,
that the Trustee or such Paying Agent, before being required to make any such repayment, may at the
expense of the Issuer cause to be published once a week for two consecutive weeks (in each case on
any day of the week) in an Authorized Newspaper notice that such money remains unclaimed and that,
after a date specified therein, which shall not be less than 30 days from the date of such
publication, any unclaimed balance of such money then remaining will be repaid to the Issuer.

SECTION 11.04 Corporate Existence.

     Subject to Article Nine, each of the Issuer and the Parent Guarantor will do or cause
to be done all things necessary to preserve and keep in full force and effect its corporate
existence.

SECTION 11.05 Payment of Taxes and Other Claims.

     The Parent Guarantor will, and will cause each Significant Subsidiary that is a
Subsidiary of the Parent Guarantor to, pay or discharge or cause to be paid or discharged, before
the same shall become delinquent, (1) all taxes, assessments and governmental charges levied or
imposed upon the Parent Guarantor or any such Significant Subsidiary or upon the income, profits or
property of the Parent Guarantor or any such Significant Subsidiary, and (2) all lawful claims for
labor, materials and supplies which, if unpaid, might by law become a lien upon the property of the
Parent Guarantor or any such Significant Subsidiary; provided, however, that none of the Parent
Guarantor nor any Significant Subsidiary shall be required to pay or discharge or cause to be paid
or discharged any such tax, assessment, charge or claim whose amount, applicability or validity is
being contested in good faith by appropriate proceedings.

SECTION 11.06 Maintenance of Properties.

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

SECTION 11.07 Waiver of Certain Covenants.

     The Issuer may omit in any particular instance to comply with any term, provision or
condition set forth in Sections 11.04, 11.05 and 11.06 or established pursuant to Section 3.01 or
10.01, with respect to the Securities of any series, if before the time for such compliance the
Holders of at least a majority in principal amount of the Outstanding Securities of such series
shall, by Act of such Holders, either waive such compliance in such instance or generally waive
compliance with such term, provision or condition, but no such waiver shall extend to or affect
such term, provision or condition except to the extent so expressly waived, and, until such waiver
shall become effective, the obligations of the Issuer and the duties of the Trustee in respect of
any such term, provision or condition shall remain in full force and effect.

SECTION 11.08 Statement by Officers as to Default.

     The Issuer will, within 90 days after the close of each fiscal year, commencing with
the first fiscal year following the issuance of Securities of any series under this Indenture, file
with the Trustee a certificate of the principal executive officer, the principal financial officer
or the principal accounting officer of the Issuer, covering the period from the date of issuance of
such Securities to the end of the

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fiscal year in which such Securities were issued, in the case of the first such certificate, and
covering the preceding fiscal year in the case of each subsequent certificate, and stating whether
or not, to the knowledge of the signer, the Issuer has complied with all conditions and covenants
on its part contained in this Indenture, and, if the signer has obtained knowledge of any default
by the Issuer in the performance, observance or fulfillment of any such condition or covenant,
specifying each such default and the nature thereof. For the purpose of this Section 11.08,
compliance shall be determined without regard to any grace period or requirement of notice provided
pursuant to the terms of this Indenture.

SECTION 11.09 Reports by Parent Guarantor.

     The Parent Guarantor shall:

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

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

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

     Delivery of such reports, information and documents to the Trustee is for
informational purposes only and the Trustee’s receipt of such shall not constitute constructive
notice of any information contained therein or determinable from information contained therein,
including the Issuer’s or the Parent Guarantor’s compliance with any of its covenants hereunder (as
to which the Trustee is entitled to rely exclusively on Officers’ Certificates).

SECTION 11.10 Further Assurances.

     From time to time whenever reasonably demanded by the Trustee, the Issuer and each
Guarantor will make, execute and deliver or cause to be made, executed and delivered any and all
such further and other instruments and assurances as may be reasonably necessary or proper to carry
out the intention or facilitate the performance of the terms of this Indenture.

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ARTICLE TWELVE

REDEMPTION OF SECURITIES

SECTION 12.01 Applicability of Article.

     Securities of any series which are redeemable before their Stated Maturity shall be
redeemable in accordance with their terms and (except as otherwise specified as contemplated by
Section 3.01 for Securities of any series) in accordance with this Article.

SECTION 12.02 Election to Redeem; Notice to Trustee.

     The election of the Issuer to redeem any Securities shall be evidenced by a Board
Resolution. In case of any redemption at the election of the Issuer of less than all the Securities
of any series, the Issuer shall, at least 45 days prior to the Redemption Date fixed by the Issuer
(unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such
Redemption Date and of the principal amount of Securities of such series to be redeemed. In the
case of any redemption of Securities prior to the expiration of any restriction on such redemption
provided in the terms of such Securities or elsewhere in this Indenture, the Issuer shall furnish
the Trustee with an Officers’ Certificate evidencing compliance with such restriction.

SECTION 12.03 Selection by Trustee of Securities to Be Redeemed.

     If less than all the Securities of any series are to be redeemed, the particular
Securities to be redeemed shall be selected not more than 45 days prior to the Redemption Date by
the Trustee, from the Outstanding Securities of such series not previously called for redemption,
by such method as the Trustee shall deem fair and appropriate and which may provide for the
selection for redemption of portions (equal to the minimum authorized denomination for Securities
of that series or any integral multiple thereof) of the principal amount of Securities of such
series of a denomination larger than the minimum authorized denomination for Securities of that
series; provided, however, that Securities of such series registered in the name of the Issuer
shall be excluded from any such selection for redemption until all Securities of such series not so
registered shall have been previously selected for redemption.

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

     For all purposes of this Indenture, unless the context otherwise requires, all
provisions relating to the redemption of Securities shall relate, in the case of any Securities
redeemed or to be redeemed only in part, to the portion of the principal amount of such Securities
which has been or is to be redeemed.

SECTION 12.04 Notice of Redemption.

     Notice of redemption shall be given not less than 30 nor more than 60 days prior to
the Redemption Date, to each Holder of Securities to be redeemed.

     All notices of redemption shall identify the Securities to be redeemed (including
CUSIP numbers) and shall state:

     (1) the Redemption Date,

     (2) the Redemption Price,

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

49

 

     (4) that on the Redemption Date the Redemption Price will become due and
payable upon each such Security to be redeemed and, if applicable, that interest thereon
will cease to accrue on and after said date,

     (5) that interest, if any, accrued to the date fixed for redemption will be
paid as specified in said notice,

     (6) the place or places where such Securities are to be surrendered for
payment of the Redemption Price, and

     (7) that the redemption is for a sinking fund, if such is the case.

     Notice of redemption of Securities to be redeemed at the election of the Issuer shall
be given by the Issuer or, at the Issuer’s request, by the Trustee in the name and at the expense
of the Issuer. No such notice shall be given at any time when the Issuer or the Trustee shall have
received notice that there exists a default specified in the first paragraph of Section 4.03 or
that such a default will exist at the date fixed for such redemption or as a result of such
redemption.

SECTION 12.05 Deposit of Redemption Price.

     On or prior to 10 a.m., New York time, on any Redemption Date, the Issuer shall
deposit with the Trustee or with a Paying Agent (or, if the Issuer or any Guarantor is acting as
Paying Agent, segregate and hold in trust as provided in Section 11.03) an amount of money
sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest
Payment Date) accrued interest on, all the Securities which are to be redeemed on that date.

SECTION 12.06 Securities Payable on Redemption Date.

     Notice of redemption having been given as aforesaid, the Securities so to be redeemed
shall, on the Redemption Date, become due and payable at the Redemption Price therein specified,
and from and after such date (unless the Issuer shall default in the payment of the Redemption
Price and accrued interest) such Securities shall cease to bear interest. Upon surrender of any
such Security for redemption in accordance with said notice, such Security shall be paid by the
Issuer at the Redemption Price, together with accrued interest to the Redemption Date; provided,
however, that installments of interest whose Stated Maturity is on or prior to the Redemption Date
shall be payable to the Holders of such Securities, or one or more Predecessor Securities,
registered as such at the close of business on the relevant Record Dates according to their terms
and the provisions of Section 3.07.

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

SECTION 12.07 Securities Redeemed in Part.

     Any Security which is to be redeemed only in part shall be surrendered at a Place of
Payment therefor (with, if the Issuer or the Trustee so requires, due endorsement by, or a written
instrument of transfer in form satisfactory to the Issuer and the Trustee duly executed by, the
Holder thereof or his attorney duly authorized in writing), and the Issuer shall execute, and the
Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new
Security or Securities of the same series, of any authorized denomination as requested by such
Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the
principal of the security so surrendered. Securities in denominations larger than $1,000 may be
redeemed in part, but only in whole multiples of $1,000.

50

 

SECTION 12.08 Securities No Longer Outstanding After Notice to Trustee and Deposit of Cash.

     If the Issuer, having given notice to the Trustee as provided in Section 12.02, shall
have deposited with the Trustee or a Paying Agent, for the benefit of the Holders of any Securities
of any series or portions thereof called for redemption in whole or in part cash or other form of
payment if permitted by the terms of such Securities (which amount shall be immediately due and
payable to the Holders of such Securities or portions thereof), in the amount necessary so to
redeem all such Securities or portions thereof on the Redemption Date and provision satisfactory to
the Trustee shall have been made for the giving of notice of such redemption, such Securities or
portions thereof, shall thereupon, for all purposes of this Indenture, be deemed to be no longer
Outstanding, and the Holders thereof shall be entitled to no rights thereunder or hereunder, except
the right to receive payment of the Redemption Price, together with interest accrued to the
Redemption Date, on or after the Redemption Date of such Securities or portions thereof.

ARTICLE THIRTEEN

SINKING FUNDS

SECTION 13.01 Applicability of Article.

     The provisions of this Article shall be applicable to any sinking fund for the
retirement of Securities of a series except as otherwise specified as contemplated by Section 3.01
for Securities of such series.

     The minimum amount of any sinking fund payment provided for by the terms of Securities
of any series is herein referred to as a “mandatory sinking fund payment,” and any payment in
excess of such minimum amount provided for by the terms of Securities of any series is herein
referred to as an “optional sinking fund payment.” If provided for by the terms of Securities of
any series, the cash amount of any sinking fund payment may be subject to reduction as provided in
Section 13.02. Each sinking fund payment shall be applied to the redemption of Securities of any
series as provided for by the terms of Securities of such series.

SECTION 13.02 Satisfaction of Sinking Fund Payments with Securities.

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

SECTION 13.03 Redemption of Securities for Sinking Fund.

     Not less than 45 days prior to each sinking fund payment date for any series of
Securities, the Issuer will deliver to the Trustee an Officers’ Certificate specifying the amount
of the next ensuing sinking fund payment for that series pursuant to the terms of that series, the
portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if
any, which is to be satisfied by delivering and crediting Securities of that series pursuant to
Section 13.02 and will also deliver to the Trustee any Securities to be so delivered. Not less than
30 days before each such sinking fund payment date the Trustee shall select the Securities to be
redeemed upon such sinking fund payment date in the manner specified in Section 12.03 and cause
notice of the redemption thereof to be given in the name

51

 

of and at the expense of the Issuer in the manner provided in Section 12.04. Such notice having
been duly given, the redemption of such Securities shall be made upon the terms and in the manner
stated in Sections 12.06 and 12.07.

ARTICLE FOURTEEN

IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS

SECTION 14.01 Exemption from Individual Liability.

     No recourse under or upon any obligation, covenant or agreement of this Indenture, or
of any Security, or for any claim based thereon or otherwise in respect thereof, shall be had
against any incorporator, stockholder, officer or director, as such, past, present or future, of
the Issuer, any Guarantor or of any successor Person, either directly or through the Issuer or any
Guarantor, whether by virtue of any constitution, statute or rule of law, or by the enforcement of
any assessment or penalty or otherwise; it being expressly understood that this Indenture and the
obligations issued hereunder are solely corporate obligations of the Issuer or any Guarantor, and
that no such personal liability whatever shall attach to, or is or shall be incurred by, the
incorporators, stockholders, officers or directors, as such, of the Issuer, any Guarantor or of any
successor Person, or any of them, because of the creation of the Indebtedness hereby authorized, or
under or by reason of the obligations, covenants or agreements contained in this Indenture or in
any of the Securities or implied therefrom; and that any and all such personal liability, either at
common law or in equity or by constitution or statute, of, and any and all such rights and claims
against, every such incorporator, stockholder, officer or director, as such, because of the
creation of the Indebtedness hereby authorized, or under or by reason of the obligations, covenants
or agreements contained in this Indenture or in any of the Securities or implied therefrom, are
hereby expressly waived and released as a condition of, and as a consideration for, the execution
of this Indenture and the issuance of the Securities.

ARTICLE FIFTEEN

MEETINGS OF HOLDERS OF SECURITIES

SECTION 15.01 Purposes of Meetings.

     A meeting of Holders of Securities of all or any series may be called at any time and
from time to time pursuant to the provisions of this Article for any of the following purposes:

     (1) to give any notice to the Issuer, any Guarantor or to the Trustee, or to
give any directions to the Trustee, or to waive any default hereunder and its consequences,
or to take any other action authorized to be taken by the Holders of Securities pursuant to
any of the provisions of Article Six;

     (2) to remove the Trustee and appoint a successor Trustee pursuant to the
provisions of Article Seven;

     (3) to consent to the execution of an indenture or indentures supplemental
hereto pursuant to the provisions of Section 10.02; or

     (4) to take any other action authorized to be taken by or on behalf of the
Holders of any specified percentage in aggregate principal amount of the Securities of all
or any series, as the case may be, under any other provision of this Indenture or under
applicable law.

SECTION 15.02 Call of Meetings by Trustee.

     The Trustee may at any time call a meeting of Holders of Securities of all or any
series to take any action specified in Section 15.01, to be held at such time and at such place in
the Borough of

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Manhattan, The City of New York, as the Trustee shall determine. Notice of every meeting of the
Holders of Securities of all or any series, setting forth the time and place of such meeting and in
general terms the action proposed to be taken at such meeting, shall be given to all Holders of
Securities of each series that may be affected by the action proposed to be taken at such meeting
by publication at least twice in an Authorized Newspaper prior to the date fixed for the meeting,
the first publication to be not less than 20 nor more than 180 days prior to the date fixed for the
meeting, and the last publication to be not more than five days prior to the date fixed for the
meeting, or such notice may be given to Holders by mailing the same by first class mail, postage
prepaid, to the Holders of Securities at the time Outstanding, at their addresses as they shall
appear in the Security Register, not less than 20 nor more than 60 days prior to the date fixed for
the meeting. Failure to receive such notice or any defect therein shall in no case affect the
validity of any action taken at such meeting. Any meeting of Holders of Securities of all or any
series shall be valid without notice if the Holders of all such Securities Outstanding, the Issuer
and the Trustee are present in person or by proxy or shall have waived notice thereof before or
after the meeting.

SECTION 15.03 Call of Meetings by Issuer or Holders.

     In case at any time the Issuer or the Parent Guarantor, in each case by Board
Resolution, or the Holders of at least 10% in aggregate principal amount of the Securities then
Outstanding of each series that may be affected by the action proposed to be taken at the meeting
shall have requested the Trustee to call a meeting of Holders of Securities of all series that may
be so affected to take any action authorized in Section 15.01 by written request setting forth in
reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not have
mailed or made the first publication of the notice of such meeting within 30 days after receipt of
such request, then the Issuer or the Holders in the amount above specified may determine the time
and the place in the Borough of Manhattan, The City of New York for such meeting and may call such
meeting by mailing or publishing notice thereof as provided in Section 15.02.

SECTION 15.04 Qualification for Voting.

     To be entitled to vote at any meeting of Holders a Person shall (a) be a Holder of one
or more Securities of a series affected by the action proposed to be taken, or (b) be a Person
appointed by an instrument in writing as proxy by the Holder of one or more such Securities. The
right of Holders to have their votes counted shall be subject to the proviso in the definition of
“Outstanding” in Section 1.01. The only Persons who shall be entitled to be present or to speak at
any meeting of Holders shall be the Persons entitled to vote at such meeting and their counsel, any
representatives of the Trustee and its counsel and any representatives of the Issuer and its
counsel.

SECTION 15.05 Quorum; Adjourned Meetings.

     At any meeting of Holders, the presence of Persons holding or representing Securities
in an aggregate principal amount sufficient to take action on the business for the transaction of
which such meeting was called shall be necessary to constitute a quorum. No business shall be
transacted in the absence of a quorum unless a quorum is represented when the meeting is called to
order. In the absence of a quorum within 30 minutes of the time appointed for any such meeting, the
meeting shall, if convened at the request of the Holders of Securities (as provided in
Section 15.03), be dissolved. In any other case the Persons holding or representing a majority in
aggregate principal amount of the Securities represented at the meeting may adjourn such a meeting
for a period of not less than 10 days with the same effect, for all intents and purposes, as though
a quorum had been present. In the absence of a quorum at any such adjourned meeting, such adjourned
meeting may be similarly further adjourned for a period of not less than 10 days. Notice of the
reconvening of any adjourned meeting shall be given as provided in Section 15.02 except that, in
the case of publication, such notice need be published only once but must be given not less than
five days prior to the date on which the meeting is

53

 

scheduled to be reconvened, and in the case of mailing, such notice may be mailed not less than
five days prior to such date.

     Any Holder of a Security who has executed an instrument in writing complying with the
provisions of Section 1.04 shall be deemed to be present for the purposes of determining a quorum
and be deemed to have voted; provided, however, that such Holder shall be considered as present or
voting only with respect to the matters covered by such instrument in writing.

     Any resolution passed or decision taken at any meeting of the Holders of Securities of
any series duly held in accordance with this Section shall be binding on all Holders of such series
of Securities whether or not present or represented at the meeting.

SECTION 15.06 Regulations.

     Notwithstanding any other provisions of this Indenture, the Trustee may make such
reasonable regulations as it may deem advisable for any meeting of Holders of Securities, in regard
to proof of the holding of Securities and of the appointment of proxies, and in regard to the
appointment and duties of inspectors of votes, the submission and examination of proxies,
certificates and other evidence of the right to vote, and such other matters concerning the conduct
of the meeting as it shall think fit.

     The Trustee shall, by an instrument in writing, appoint a temporary chairman of the
meeting, unless the meeting shall have been called by the Issuer or by Holders of Securities as
provided in Section 15.03, in which case the Issuer or the Holders of Securities calling the
meeting, as the case may be, shall in like manner appoint a temporary chairman. A permanent
chairman and a permanent secretary of the meeting shall be elected by vote of the Holders of a
majority in principal amount of the Securities represented at the meeting.

     At any meeting each Holder of a Security of a series entitled to vote at such meeting,
or proxy therefor, shall be entitled to one vote for each $1,000 principal amount (in the case of
Original Issue Discount Securities, such principal amount to be determined as provided in the
definition of “Outstanding”) of Securities of such series held or represented by him; provided,
however, that no vote shall be cast or counted at any meeting in respect of any Security challenged
as not Outstanding and ruled by the chairman of the meeting to be not Outstanding. The chairman of
the meeting shall have no right to vote except as a Holder of Securities of such series or proxy
therefor. Any meeting of Holders of Securities duly called pursuant to the provisions of
Section 15.02 or 15.03 at which a quorum is present may be adjourned from time to time, and the
meeting may be held as so adjourned without further notice.

SECTION 15.07 Voting Procedure.

     The vote upon any resolution submitted to any meeting of Holders shall be by written
ballot on which shall be subscribed the signatures of the Holders of Securities entitled to vote at
such meeting, or proxies therefor, and on which shall be inscribed an identifying number or numbers
or to which shall be attached a list of identifying numbers of the Securities so held or
represented by them. The permanent chairman of the meeting shall appoint two inspectors of votes
who shall count all votes cast at the meeting for or against any resolution and who shall make and
file with the secretary of the meeting their verified written reports in duplicate of all votes
cast at the meeting. A record in duplicate of the proceedings of each meeting of Holders of
Securities shall be prepared by the secretary of the meeting and there shall be attached to said
record the original reports of the inspectors of votes on any vote by ballot taken thereat and
affidavits by one or more Persons having knowledge of the facts setting forth a copy of the notice
of the meeting and showing that said notice was mailed or published as provided in Section 15.02
and, if applicable, Section 15.05. The record shall be signed and verified by the permanent
chairman and secretary of the meeting and one of the duplicates shall be delivered to the Issuer
and the other to the Trustee to be preserved by the Trustee, the latter to have attached thereto
the ballots voted at the meeting.

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     Any record so signed and verified shall be conclusive evidence of the matters therein
stated.

SECTION 15.08 Written Consent in Lieu of Meetings.

     The written authorization or consent by the Holders of the requisite percentage in
aggregate principal amount of Securities of any series herein provided, entitled to vote at any
such meeting, evidenced as provided in Section 1.04 and filed with the Trustee, shall be effective
in lieu of a meeting of the Holders of Securities of such series, with respect to any matter
provided for in this Article Fifteen.

SECTION 15.09 No Delay of Rights by Meeting.

     Nothing contained in this Article shall be deemed or construed to authorize or permit,
by reason of any call of a meeting of Holders of Securities of any or all series or any rights
expressly or impliedly conferred hereunder to make such call, any hindrance or delay in the
exercise of any right or rights conferred upon or reserved to the Trustee or the Holders of
Securities of any or all such series under any provisions of this Indenture or the Securities.

ARTICLE SIXTEEN

GUARANTEE OF SECURITIES

SECTION 16.01 Guarantee.

     Except as otherwise set forth in a Board Resolution, Officers’ Certificate or
supplemental indenture establishing a series of Securities and subject to the provisions of this
Article Sixteen, each Guarantor hereby jointly and severally unconditionally and irrevocably
guarantees, as a primary obligor and not merely as a surety, to each Holder and to the Trustee and
its successors and assigns (a) the full and punctual payment of principal of and interest on and
liquidated damages in respect of the Securities when due, whether on the Stated Maturity, by
acceleration, by redemption or otherwise, and all other monetary obligations of the Issuer under
this Indenture (including all obligations of the Issuer to the Trustee under this Indenture) and
the Securities and (b) the full and punctual performance within applicable grace periods of all
other obligations of the Issuer whether for expenses, indemnification or otherwise under this
Indenture and the Securities (all the foregoing being hereinafter collectively called the
“Guaranteed Obligations”). Each Guarantor further agrees that the Guaranteed Obligations may be
extended or renewed, in whole or in part, without notice or further assent from each such
Guarantor, and that each such Guarantor shall remain bound under this Article Sixteen
notwithstanding any extension or renewal of any Guaranteed Obligation.

     Each Guarantor waives (to the extent that it may lawfully do so) (a) presentation to,
demand of, payment from and protest to the Issuer of any of the Guaranteed Obligations, (b) notice
of protest for nonpayment and (c) notice of any default under Securities of any series or the
Guaranteed Obligations. The obligations of each Guarantor hereunder shall not be affected by
(i) the failure of any Holder or the Trustee to assert any claim or demand or to enforce any right
or remedy against the Issuer or any other Person under this Indenture, the Securities of any series
or any other agreement or otherwise; (ii) any extension or renewal of any thereof; (iii) any
rescission, waiver, amendment or modification of any of the terms or provisions of this Indenture,
the Securities of any series or any other agreement relating to this Indenture or the Securities;
(iv) the release of any security held by any Holder or the Trustee for the Guaranteed Obligations
or any of them; (v) the failure of any Holder or the Trustee to exercise any right or remedy
against any other guarantor of the Guaranteed Obligations; or (vi) any change in the ownership of
such Guarantor, except as provided in Section 16.02(b).

     Each Guarantor hereby waives (to the extent that it may lawfully do so) (x) any right
to which it may be entitled to have its obligations hereunder divided among the Guarantors, such
that such Guarantor’s obligations would be less than the full amount claimed, (y) any right to
which it may be

55

 

entitled to have the assets of the Issuer first be used and depleted as payment of the Issuer’s or
such Guarantor’s obligations hereunder prior to any amounts being claimed from or paid by such
Guarantor hereunder and (z) any right to which it may be entitled to require that the Issuer be
sued prior to an action being initiated against such Guarantor.

     Each Guarantor further agrees that its Guarantee herein constitutes a guarantee of
payment, performance and compliance when due (and not a guarantee of collection) and waives (to the
extent that it may lawfully do so) any right to require that any resort be had by any Holder or the
Trustee to any security held for payment of the Guaranteed Obligations.

     The Guarantee of each Guarantor is, to the extent and in the manner set forth in
Section 4.01(b), subordinated and subject in right of payment to the prior payment in full of the
principal of and premium, if any, and interest on all Senior Indebtedness of the relevant Guarantor
and is made subject to such provisions of this Indenture.

     Except as expressly set forth in Sections 5.02 and 16.02, the obligations of each
Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination
for any reason, including any claim of waiver, release, surrender, alteration or compromise, and
shall not be subject to any defense of setoff, counterclaim, recoupment or termination whatsoever
or by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or
otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor
herein shall not be discharged or impaired or otherwise affected by the failure of any Holder or
the Trustee to assert any claim or demand or to enforce any remedy under this Indenture, the
Securities of any series or any other agreement relating to this Indenture or the Securities, by
any waiver or modification of any thereof, by any default, failure or delay, willful or otherwise,
in the performance of the obligations, or by any other act or thing or omission or delay to do any
other act or thing which may or might in any manner or to any extent vary the risk of any Guarantor
or would otherwise operate as a discharge of any Guarantor as a matter of law or equity.

     Each Guarantor agrees that its Guarantee shall remain in full force and effect until
payment in full of all the Guaranteed Obligations. Each Guarantor further agrees that its Guarantee
herein shall continue to be effective or be reinstated, as the case may be, if at any time payment,
or any part thereof, of principal of or interest on any Guaranteed Obligation is rescinded or must
otherwise be restored by any Holder or the Trustee upon the bankruptcy or reorganization of the
Issuer or otherwise.

     In furtherance of the foregoing and not in limitation of any other right which any
Holder or the Trustee has at law or in equity against any Guarantor by virtue hereof, upon the
failure of the Issuer to pay the principal of or interest on any Guaranteed Obligation when and as
the same shall become due, whether at maturity, by acceleration, by redemption or otherwise, or to
perform or comply with any other Guaranteed Obligation, each Guarantor hereby promises to and
shall, upon receipt of written demand by the Trustee, forthwith pay, or cause to be paid, in cash,
to the Holders or the Trustee an amount equal to the sum of (i) the unpaid principal amount of such
Guaranteed Obligations, (ii) accrued and unpaid interest on such Guaranteed Obligations (but only
to the extent not prohibited by law) and (iii) all other monetary obligations of the Issuer to the
Holders and the Trustee.

     Each Guarantor agrees that it shall not be entitled to any right of subrogation in
relation to the Holders in respect of any Guaranteed Obligations guaranteed hereby until payment in
full of all Guaranteed Obligations and all obligations to which the Guaranteed Obligations are
subordinated pursuant to Section 4.01(b). Each Guarantor further agrees that, as between it, on the
one hand, and the Holders and the Trustee, on the other hand, (x) the maturity of the Guaranteed
Obligations guaranteed hereby may be accelerated as provided in Article Six for the purposes of any
Guarantee herein, notwithstanding any stay, injunction or other prohibition preventing such
acceleration in respect of the Guaranteed Obligations guaranteed hereby, and (y) in the event of
any declaration of

56

 

acceleration of such Guaranteed Obligations as provided in Article Six, such Guaranteed Obligations
(whether or not due and payable) shall forthwith become due and payable by such Guarantor for the
purposes of this Section 16.01.

     Each Guarantor also agrees to pay any and all costs and expenses (including reasonable
attorneys’ fees and expenses) incurred by the Trustee or any Holder in enforcing any rights under
this Section 16.01.

SECTION 16.02 Limitation on Liability.

     (a) Any term or provision of this Indenture to the contrary notwithstanding, the
maximum, aggregate amount of the Guaranteed Obligations guaranteed hereunder by any Guarantor shall
not exceed the maximum amount that can be hereby guaranteed without rendering this Indenture, as it
relates to such Guarantor, voidable under applicable law relating to fraudulent conveyance or
fraudulent transfer or similar laws affecting the rights of creditors generally.

     (b) This Guarantee as to any Guarantor (other than the Parent Guarantor) shall
terminate and be of no further force or effect and such Guarantor shall be deemed to be released
from all obligations under this Article Sixteen and Section 9.02 upon (i) the merger or
consolidation of such Guarantor with or into any Person other than the Issuer or a Subsidiary or
Affiliate of the Issuer where such Guarantor is not the surviving entity of such consolidation or
merger or (ii) the sale, exchange or transfer to any Person not an Affiliate of the Issuer of all
the Capital Stock in, or all or substantially all the assets of, such Guarantor, provided however,
that in the case of (i) and (ii) above, such merger, consolidation, sale, exchange or transfer is
made in accordance with Section 9.01 and the successor Person or transferee has assumed all of the
obligations of such Guarantor under this Indenture and the Securities. This Guarantee also shall be
automatically released upon the release or discharge of the Indebtedness that results in the
creation of such Guarantee, as the case may be. At the request of the Issuer, the Trustee shall
execute and deliver an appropriate instrument evidencing such release.

SECTION 16.03 Successors and Assigns.

     This Article Sixteen shall be binding upon each Guarantor and its successors and
assigns and shall inure to the benefit of the successors and assigns of the Trustee and the Holders
and, in the event of any transfer or assignment of rights by any Holder or the Trustee, the rights
and privileges conferred upon that party in this Indenture and in the Securities of any series
shall automatically extend to and be vested in such transferee or assignee, all subject to the
terms and conditions of this Indenture.

SECTION 16.04 No Waiver.

     Neither a failure nor a delay on the part of either the Trustee or the Holders in
exercising any right, power or privilege under this Article Sixteen shall operate as a waiver
thereof, nor shall a single or partial exercise thereof preclude any other or further exercise of
any right, power or privilege. The rights, remedies and benefits of the Trustee and the Holders
herein expressly specified are cumulative and not exclusive of any other rights, remedies or
benefits which either may have under this Article Sixteen at law, in equity, by statute or
otherwise.

SECTION 16.05 Modification.

     No modification, amendment or waiver of any provision of this Article Sixteen, nor the
consent to any departure by any Guarantor therefrom, shall in any event be effective unless the
same shall be in writing and signed by the Trustee, and then such waiver or consent shall be
effective only in the specific instance and for the purpose for which given. No notice to or demand
on any Guarantor in any case shall entitle such Guarantor to any other or further notice or demand
in the same, similar or other circumstances.

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ARTICLE SEVENTEEN

MISCELLANEOUS

SECTION 17.01 Counterparts.

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

     THE BANK OF NEW YORK MELLON hereby accepts the trusts in this Indenture declared and
provided, upon the terms and conditions hereinabove set forth.

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SIGNATURES

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

	 	 	 	 	 
	 	WILLIS NORTH AMERICA INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WILLIS GROUP HOLDINGS PUBLIC LIMITED
COMPANY

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WILLIS
NETHERLANDS HOLDINGS, B.V.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WILLIS INVESTMENT UK HOLDINGS LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TA I LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TA II LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TA III LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TRINITY ACQUISITION PLC

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

59

 

	 	 	 	 	 

	 	 	 	 	 
	 	TA IV LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WILLIS GROUP LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	THE BANK OF NEW YORK MELLON, AS TRUSTEE

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

60exv4w14

Exhibit 4.14

 

 

WILLIS NORTH AMERICA INC.,

Issuer

WILLIS
GROUP HOLDINGS PUBLIC LIMITED COMPANY

WILLIS
NETHERLANDS HOLDINGS, B.V.

WILLIS INVESTMENT UK HOLDINGS LIMITED

TA I LIMITED

TA II LIMITED

TA III LIMITED

TRINITY ACQUISITION PLC

TA IV LIMITED

WILLIS GROUP LIMITED,

Guarantors

and

THE BANK OF NEW YORK MELLON,

Trustee

 

Indenture

Dated as of                     

 

Subordinated Debt Securities

 

 

 

 

Table of Contents

	 	 	 	 	 
	 	 	Page
	ARTICLE ONE

	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

	 
	 	 	 	 
	SECTION 1.01      Definitions
	 	 	1	 
	SECTION 1.02      Compliance Certificates and Opinions
	 	 	8	 
	SECTION 1.03      Form of Documents Delivered to Trustee
	 	 	9	 
	SECTION 1.04      Acts of Holders
	 	 	9	 
	SECTION 1.05      Notices, etc. to Trustee and Issuer
	 	 	10	 
	SECTION 1.06      Notice to Holders; Waiver
	 	 	11	 
	SECTION 1.07      Conflict with Trust Indenture Act
	 	 	11	 
	SECTION 1.08      Effect of Headings and Table of Contents
	 	 	11	 
	SECTION 1.09      Successors and Assigns
	 	 	11	 
	SECTION 1.10      Separability Clause
	 	 	11	 
	SECTION 1.11      Benefits of Indenture
	 	 	11	 
	SECTION 1.12      Governing Law; Waiver of Trial by Jury
	 	 	11	 
	SECTION 1.13      Legal Holidays
	 	 	12	 
	 
	 	 	 	 
	ARTICLE TWO

	SECURITY FORMS

	 
	 	 	 	 
	SECTION 2.01      Forms Generally
	 	 	12	 
	SECTION 2.02      Form of Trustee’s Certificate of Authentication
	 	 	12	 
	SECTION 2.03      Securities in Global Form
	 	 	12	 
	 
	 	 	 	 
	ARTICLE THREE

	THE SECURITIES

	 
	 	 	 	 
	SECTION 3.01      Amount Unlimited; Issuable in Series
	 	 	13	 
	SECTION 3.02      Denominations
	 	 	15	 
	SECTION 3.03      Execution, Authentication, Delivery and Dating
	 	 	15	 
	SECTION 3.04      Temporary Securities
	 	 	16	 
	SECTION 3.05      Registration, Registration of Transfer and
Exchange Global Securities Representing the
Securities
	 	 	16	 
	SECTION 3.06      Mutilated, Destroyed, Lost and Stolen Securities
	 	 	18	 
	SECTION 3.07      Payment of Interest; Interest Rights Preserved
	 	 	19	 
	SECTION 3.08      Persons Deemed Owners
	 	 	20	 
	SECTION 3.09      Cancellation
	 	 	20	 
	SECTION 3.10      Computation of Interest
	 	 	20	 
	SECTION 3.11      CUSIP Numbers
	 	 	20	 
	 
	 	 	 	 
	ARTICLE FOUR

	SUBORDINATION OF SECURITIES

	 
	 	 	 	 
	SECTION 4.01      Agreement To Subordinate
	 	 	21	 
	SECTION 4.02      Liquidation, Dissolution, Bankruptcy
	 	 	21	 
	SECTION 4.03      Default on Senior Indebtedness
	 	 	21	 
	SECTION 4.04      Acceleration of Payment of Securities
	 	 	22	 
	SECTION 4.05      When Distribution Must Be Paid Over
	 	 	22	 

i

 

	 	 	 	 	 
	 	 	Page
	SECTION 4.06      Subrogation
	 	 	22	 
	SECTION 4.07      Relative Rights
	 	 	22	 
	SECTION 4.08      Subordination May Not Be Impaired by Issuer
	 	 	23	 
	SECTION 4.09      Rights of Trustee and Paying Agent
	 	 	23	 
	SECTION 4.10      Distribution or Notice to Representative
	 	 	23	 
	SECTION 4.11      Article Four Not to Prevent Events of Default or Limit Right to Accelerate
	 	 	23	 
	SECTION 4.12      Trust Moneys Not Subordinated
	 	 	23	 
	SECTION 4.13      Trustee Entitled to Rely
	 	 	23	 
	SECTION 4.14      Trustee to Effectuate Subordination
	 	 	24	 
	SECTION 4.15      Trustee Not Fiduciary for Holders of Senior Indebtedness
	 	 	24	 
	SECTION 4.16      Reliance by Holders of Senior Indebtedness on Subordination Provisions
	 	 	24	 
	SECTION 4.17      Trustee’s Compensation Not Prejudiced
	 	 	24	 
	SECTION 4.18      Defeasance
	 	 	25	 
	 
	 	 	 	 
	ARTICLE FIVE

	SATISFACTION AND DISCHARGE; DEFEASANCE

	 
	 	 	 	 
	SECTION 5.01      Satisfaction and Discharge of Securities of any Series
	 	 	25	 
	SECTION 5.02      Option to Effect Legal Defeasance or Covenant Defeasance
	 	 	26	 
	SECTION 5.03      Legal Defeasance and Discharge
	 	 	26	 
	SECTION 5.04      Covenant Defeasance
	 	 	26	 
	SECTION 5.05      Conditions to Legal or Covenant Defeasance
	 	 	27	 
	SECTION 5.06      Survival of Certain Obligations
	 	 	28	 
	SECTION 5.07      Application of Trust Money
	 	 	28	 
	SECTION 5.08      Repayment of Moneys Held by Paying Agent
	 	 	28	 
	SECTION 5.09      Reinstatement
	 	 	28	 
	 
	 	 	 	 
	ARTICLE SIX
	 	 	 	 
	REMEDIES OF THE TRUSTEE AND HOLDERS ON EVENT OF DEFAULT

	 
	 	 	 	 
	SECTION 6.01      Events of Default
	 	 	29	 
	SECTION 6.02      Acceleration of Maturity; Rescission and Annulment
	 	 	30	 
	SECTION 6.03      Collection of Indebtedness and Suits for Enforcement by Trustee
	 	 	31	 
	SECTION 6.04      Trustee May File Proofs of Claim
	 	 	31	 
	SECTION 6.05      Trustee May Enforce Claims without Possession of Securities
	 	 	32	 
	SECTION 6.06      Application of Money Collected
	 	 	32	 
	SECTION 6.07      Limitation on Suits
	 	 	32	 
	SECTION 6.08      Unconditional Right of Holders to Receive Principal, Premium and Interest
	 	 	33	 
	SECTION 6.09      Restoration of Rights and Remedies
	 	 	33	 
	SECTION 6.10      Rights and Remedies Cumulative
	 	 	33	 
	SECTION 6.11      Delay or Omission Not Waiver
	 	 	33	 
	SECTION 6.12      Control by Holders
	 	 	34	 
	SECTION 6.13      Waiver of Past Defaults
	 	 	34	 
	SECTION 6.14      Undertaking for Costs
	 	 	34	 
	SECTION 6.15      Waiver of Stay or Extension Laws
	 	 	34	 
	 
	 	 	 	 
	ARTICLE SEVEN

	THE TRUSTEE

	 
	 	 	 	 
	SECTION 7.01      Certain Duties and Responsibilities
	 	 	35	 
	SECTION 7.02      Notice of Defaults
	 	 	36	 

ii

 

	 	 	 	 	 
	 	 	Page
	SECTION 7.03      Certain Rights of Trustee
	 	 	36	 
	SECTION 7.04      Not Responsible for Recitals or Issuance of Securities
	 	 	37	 
	SECTION 7.05      May Hold Securities
	 	 	37	 
	SECTION 7.06      Money Held in Trust
	 	 	37	 
	SECTION 7.07      Compensation and Reimbursement
	 	 	37	 
	SECTION 7.08      Disqualification; Conflicting Interests
	 	 	38	 
	SECTION 7.09      Corporate Trustee Required; Eligibility
	 	 	38	 
	SECTION 7.10      Resignation and Removal; Appointment of Successor
	 	 	38	 
	SECTION 7.11      Acceptance of Appointment by Successor
	 	 	39	 
	SECTION 7.12      Merger, Conversion, Consolidation or Succession to Business
	 	 	40	 
	SECTION 7.13      Preferential Collection of Claims Against Issuer
	 	 	40	 
	 
	 	 	 	 
	ARTICLE EIGHT

	HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND ISSUER

	 
	 	 	 	 
	SECTION 8.01      Issuer to Furnish Trustee Names and Addresses of Holders
	 	 	41	 
	SECTION 8.02      Preservation of Information; Communications to Holders
	 	 	41	 
	SECTION 8.03      Reports by Trustee
	 	 	41	 
	 
	 	 	 	 
	ARTICLE NINE

	CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

	 
	 	 	 	 
	SECTION 9.01      Merger, Consolidation, etc. Only on Certain Terms
	 	 	42	 
	SECTION 9.02      Successor Corporation Substituted
	 	 	42	 
	 
	 	 	 	 
	ARTICLE TEN

	SUPPLEMENTAL INDENTURES

	 
	 	 	 	 
	SECTION 10.01      Supplemental Indentures without Consent of Holders
	 	 	43	 
	SECTION 10.02      Supplemental Indentures with Consent of Holders
	 	 	43	 
	SECTION 10.03      Execution of Supplemental Indentures
	 	 	44	 
	SECTION 10.04      Effect of Supplemental Indentures
	 	 	44	 
	SECTION 10.05      Conformity with Trust Indenture Act
	 	 	45	 
	SECTION 10.06      Reference in Securities to Supplemental Indentures
	 	 	45	 
	SECTION 10.07      Notice of Supplemental Indenture
	 	 	45	 
	 
	 	 	 	 
	ARTICLE ELEVEN

	COVENANTS

	 
	 	 	 	 
	SECTION 11.01      Payment of Principal, Premium and Interest
	 	 	45	 
	SECTION 11.02      Maintenance of Office or Agency
	 	 	45	 
	SECTION 11.03      Money for Securities Payments to Be Held in Trust
	 	 	45	 
	SECTION 11.04      Corporate Existence
	 	 	47	 
	SECTION 11.05      Payment of Taxes and Other Claims
	 	 	47	 
	SECTION 11.06      Maintenance of Properties
	 	 	47	 
	SECTION 11.07      Waiver of Certain Covenants
	 	 	47	 
	SECTION 11.08      Statement by Officers as to Default
	 	 	47	 
	SECTION 11.09      Reports by Parent Guarantor
	 	 	48	 
	SECTION 11.10      Further Assurances
	 	 	48	 

iii

 

	 	 	 	 	 
	 	 	Page
	ARTICLE TWELVE

	REDEMPTION OF SECURITIES

	 
	 	 	 	 
	SECTION 12.01      Applicability of Article
	 	 	48	 
	SECTION 12.02      Election to Redeem; Notice to Trustee
	 	 	49	 
	SECTION 12.03      Selection by Trustee of Securities to Be Redeemed
	 	 	49	 
	SECTION 12.04      Notice of Redemption
	 	 	49	 
	SECTION 12.05      Deposit of Redemption Price
	 	 	50	 
	SECTION 12.06      Securities Payable on Redemption Date
	 	 	50	 
	SECTION 12.07      Securities Redeemed in Part
	 	 	50	 
	SECTION 12.08      Securities No Longer Outstanding After Notice to
Trustee and Deposit of Cash
	 	 	50	 
	 
	 	 	 	 
	ARTICLE THIRTEEN

	SINKING FUNDS

	 
	 	 	 	 
	SECTION 13.01      Applicability of Article
	 	 	51	 
	SECTION 13.02      Satisfaction of Sinking Fund Payments with Securities
	 	 	51	 
	SECTION 13.03      Redemption of Securities for Sinking Fund
	 	 	51	 
	 
	 	 	 	 
	ARTICLE FOURTEEN

	IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS

	 
	 	 	 	 
	SECTION 14.01      Exemption from Individual Liability
	 	 	52	 
	 
	 	 	 	 
	ARTICLE FIFTEEN

	MEETINGS OF HOLDERS OF SECURITIES

	 
	 	 	 	 
	SECTION 15.01      Purposes of Meetings
	 	 	52	 
	SECTION 15.02      Call of Meetings by Trustee
	 	 	52	 
	SECTION 15.03      Call of Meetings by Issuer or Holders
	 	 	53	 
	SECTION 15.04      Qualification for Voting
	 	 	53	 
	SECTION 15.05      Quorum; Adjourned Meetings
	 	 	53	 
	SECTION 15.06      Regulations
	 	 	54	 
	SECTION 15.07      Voting Procedure
	 	 	54	 
	SECTION 15.08      Written Consent in Lieu of Meetings
	 	 	55	 
	SECTION 15.09      No Delay of Rights by Meeting
	 	 	55	 
	 
	 	 	 	 
	ARTICLE SIXTEEN

	GUARANTEE OF SECURITIES

	 
	 	 	 	 
	SECTION 16.01      Guarantee
	 	 	55	 
	SECTION 16.02      Limitation on Liability
	 	 	57	 
	SECTION 16.03      Successors and Assigns
	 	 	57	 
	SECTION 16.04      No Waiver
	 	 	57	 
	SECTION 16.05      Modification
	 	 	57	 
	 
	 	 	 	 
	ARTICLE SEVENTEEN

	MISCELLANEOUS

	 
	 	 	 	 
	SECTION 17.01      Counterparts
	 	 	58	 

iv

 

Reconciliation and Tie of this Indenture,

relating to Sections 310 through 318, inclusive, of the

Trust Indenture Act of 1939, as amended

	 	 	 	 	 
	310
	 	(a)(1)	 	7.09
	 
	 	(a)(2)	 	7.09
	 
	 	(a)(3)	 	Not applicable
	 
	 	(a)(4)	 	Not applicable
	 
	 	(b)	 	7.08, 7.10
	311
	 	(a)	 	7.13
	 
	 	(b)	 	7.13
	312
	 	(a)	 	8.01, 8.02(a)
	 
	 	(b)	 	8.02(b)
	 
	 	(c)	 	8.02(c)
	313
	 	(a)	 	8.03
	 
	 	(b)	 	8.03
	 
	 	(c)	 	8.03
	 
	 	(d)	 	8.03
	314
	 	(a)	 	11.09
	 
	 	(a)(4)	 	11.08
	 
	 	(b)	 	Not applicable
	 
	 	(c)(1)	 	1.02
	 
	 	(c)(2)	 	1.02
	 
	 	(c)(3)	 	Not applicable
	 
	 	(d)	 	Not applicable
	 
	 	(e)	 	1.02
	315
	 	(a)	 	7.01(a)
	 
	 	(b)	 	7.02
	 
	 	(c)	 	7.01(b)
	 
	 	(d)	 	7.01
	 
	 	(e)	 	6.14
	316
	 	(a)(1)(A)	 	6.12
	 
	 	(a)(1)(B)	 	6.13
	 
	 	(a)(2)	 	Not applicable
	 
	 	(b)	 	6.08
	317
	 	(a)(1)	 	6.03
	 
	 	(a)(2)	 	6.04
	 
	 	(b)	 	11.03
	318
	 	(a)	 	1.07

 

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

v

 

     INDENTURE, dated as of [     ] among WILLIS NORTH AMERICA INC., a Delaware corporation, as
issuer (the “Issuer”), WILLIS GROUP HOLDINGS PUBLIC LIMITED
COMPANY, a company organized and existing under the
laws of Ireland, WILLIS
NETHERLANDS HOLDINGS, B.V., a company organized under the laws of the
Netherlands, WILLIS INVESTMENT UK HOLDINGS LIMITED, a company organized and existing under the
laws of England and Wales, TA I LIMITED, a company organized and existing under the laws of England
and Wales, TA II LIMITED, a company organized and existing under the laws of England and Wales, TA
III LIMITED, a company organized and existing under the laws of England and Wales, TRINITY
ACQUISITION PLC, a company organized and existing under the laws of England and Wales, TA IV
LIMITED, a company organized and existing under the laws of England and Wales, and WILLIS GROUP
LIMITED, a company organized and existing under the laws of England and Wales, as guarantors
(collectively, the “Guarantors”), and THE BANK OF NEW YORK MELLON, a New York banking corporation,
as trustee (the “Trustee”).

RECITALS OF THE ISSUER

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

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

     NOW, THEREFORE, THIS INDENTURE WITNESSETH:

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

ARTICLE ONE

DEFINITIONS AND OTHER PROVISIONS

OF GENERAL APPLICATION

SECTION 1.01 Definitions.

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

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

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

     (c) all accounting terms not otherwise defined herein have the meanings assigned to them in
accordance with GAAP; and

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

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

     “Act” when used with respect to any Holder, has the meaning specified in Section 1.04.

     “Affiliate” means, with respect to any specified Person, any other Person directly or
indirectly controlling or controlled by or under direct or indirect common control with such
specified Person. For purposes of this definition, “control” (including, with correlative meanings,
the terms “controlling,” “controlled by” and “under common control with”), as used with respect to
any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the
direction of the management or policies of such Person, whether through the ownership of voting
securities, by agreement or otherwise.

 

 

     “Authorized Newspaper” shall mean a newspaper of general circulation in the Borough of
Manhattan, The City of New York, and customarily published on each Business Day, currently expected
to be The Wall Street Journal (National Edition). Where successive publications are required to be
made in an Authorized Newspaper, the successive publications may be made in the same or different
newspapers meeting the foregoing requirements and in each case on any Business Day.

     “Bankruptcy Law” means (i) any and all relevant provisions of the Companies Act 1981 of
Bermuda, including but not limited to Part XIII, as supplemented or amended, together with all
rules, regulations and instruments made thereunder and applicable laws of Bermuda relating to
bankruptcy, insolvency, winding up, administration, receivership or other similar matters, (ii) the
U.K. Insolvency Act 1986, as supplemented or amended, together with all rules, regulations and
instruments made thereunder and applicable laws of England and Wales relating to bankruptcy,
insolvency, winding up, administration, receivership and other similar matters and (iii) Title 11,
United States Bankruptcy Code of 1978 as amended, or any similar United States federal or state law
relating to relief of debtors or any amendment to, succession to or change in any such law.

     “Board of Directors” means either the board of directors of the Issuer or a Guarantor or any
committee of that board duly authorized to act hereunder.

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

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

     “Capital Stock” means, with respect to any Person, any shares or other equivalents (however
designated) of any class of corporate stock or partnership interests or any other participations,
rights, warrants, options or other interests in the nature of an equity interest in such Person,
including, without limitation, preferred stock and any debt security convertible or exchangeable
into such equity interest.

     “Cash Equivalents” means (i) United States dollars, (ii) pounds sterling, (iii) Euro, (iv)
Japanese Yen, (v) Canadian dollars, (vi) Australian dollars, (vii) securities issued or directly
and fully guaranteed or insured by the United States or United Kingdom government or any agency or
instrumentality thereof with maturities of 24 months or less from the date of acquisition, (viii)
certificates of deposit, time deposits and eurodollar time deposits with maturities of one year or
less from the date of acquisition, bankers’ acceptances with maturities not exceeding one year and
overnight bank deposits, in each case with any commercial bank having capital and surplus in excess
of $500.0 million, (ix) repurchase obligations for underlying securities of the types described in
clauses (vii) and (viii) entered into with any financial institution meeting the qualifications
specified in clause (viii) above, (x) commercial paper rated A-1 or the equivalent thereof by
Moody’s or S&P and in each case maturing within one year after the date of acquisition, (xi)
investment funds investing 95% of their assets in securities of the types described in clauses
(i)-(x) above, (xii) readily marketable direct obligations issued by any state of the United States
of America or any political subdivision thereof having one of the two highest rating categories
obtainable from either Moody’s or S&P with maturities of 24 months or less from the date of
acquisition and (xiii) Indebtedness or preferred stock issued by Persons with a rating of “A” or
higher from S&P or “A2” or higher from Moody’s with maturities of 24 months or less from the date
of acquisition. Notwithstanding the foregoing, Cash Equivalents shall include amounts denominated
in currencies other than those set forth in clauses (i) through (vi) above, provided that such
amounts are converted into any currency listed in clauses (i) through (vi) as promptly as
practicable and in any event within ten Business Days following the receipt of such amounts.

2

 

     “Commission” means the Securities and Exchange Commission, as from time to time constituted,
created under the Securities Exchange Act of 1934, or, if at any time after the execution of this
instrument such Commission is not existing and performing the duties now assigned to it under the
Trust Indenture Act, then the body performing such duties at such time.

     “Corporate Trust Office” means the principal corporate trust office of the Trustee in New
York, New York at which at any particular time its corporate trust business shall be administered.

     “Corporation” includes corporations, associations, companies and business trusts.

     “Credit Agreement” means that certain $1,000,000,000.00 Credit Agreement, dated as of October
1, 2008, among Willis North America Inc., Bank of America, N.A. as administrative agent, and each
lender from time to time party thereto and any amendments, supplements, modifications, extensions,
renewals or restatements thereof.

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

     “Defaulted Interest” has the meaning specified in Section 3.07.

     “Depository” has the meaning specified in Section 3.01.

     “Designated Senior Indebtedness” means Senior Indebtedness under the Credit Agreement and (ii)
any other Senior Indebtedness the principal amount of which is $25.0 million or more and that has
been designated by the Issuer as Designated Senior Indebtedness.

     “Dollar” or “$” means a dollar or other equivalent unit in such coin or currency of the United
States as at the time of payment is legal tender for the payment of public and private debts.

     “Event of Default” has the meaning specified in Section 6.01.

     “GAAP” shall mean generally accepted accounting principles in the United States of America set
forth in the opinions and pronouncements of the Accounting Principles Board of the American
Institute of Certified Public Accountants and 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 as in effect from time to time.

     “Global Security” has the meaning specified in Section 2.03.

     “Government Securities” means direct obligations of, or obligations guaranteed by, the United
States of America for the payment of which obligations or guarantee the full faith and credit of
the United States is pledged and which have a remaining weighted average life to maturity of not
more than one year from the date of investment therein.

     “Guarantee” means the guarantee by any Guarantor of the Issuer’s Indenture obligations.

     “Guaranteed Obligations” has the meaning specified in Section 16.01.

     “Guarantor” means each of Willis Group
Holdings Public Limited Company, a company organized and existing
under the laws of Ireland, Willis
Netherlands Holdings, B.V., a company organized under the laws of the
Netherlands, Willis Investment UK Holdings Limited, a company organized and existing
under the laws of England and Wales, TA I Limited, a company organized and existing under the laws
of England and Wales, TA II Limited, a company organized and existing under the laws of England and
Wales, TA III Limited, a company organized and existing under the laws of England and Wales,
Trinity Acquisition Limited, a company organized and existing under the laws of England and Wales,
TA IV Limited, a company organized and existing under the laws of England and Wales, and Willis
Group Limited, a company organized and existing under the laws of England and Wales, and any other
subsidiary of Willis Group Holdings Public Limited  Company which becomes a guarantor of the Issuer’s Indenture
obligations.

3

 

     “Hedging Obligation” means, with respect to any Person, the obligations of such Person under
(i) currency exchange, interest rate or commodity swap agreements, currency exchange, interest rate
or commodity cap agreements and currency exchange, interest rate or commodity collar agreements and
(ii) other agreements or arrangements designed to protect such Person against fluctuations in
currency exchange, interest rates or commodity prices.

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

     “Indebtedness” means, with respect to any Person, (a) the principal of and premium (if any) in
respect of any obligation of such Person for money borrowed, and any obligation evidenced by notes,
debentures, bonds or other similar instruments for the payment of which such Person is responsible
or liable; (b) all obligations of such Person as lessee under leases required to be capitalized on
the balance sheet of the lessee under GAAP and leases of property or assets made as part of any
sale and leaseback transaction entered into by such Person; (c) all obligations of such Person
issued or assumed as the deferred purchase price of any property, all conditional sale obligations
of such Person and all obligations of such Person under any title retention agreement (but
excluding trade accounts payable or similar obligations to a trade creditor arising in the ordinary
course of business); (d) all obligations of such Person for the reimbursement of any obligor on any
letter of credit, banker’s acceptance or similar credit transaction; (e) all obligations of the
type referred to in clauses (a) through (d) of other Persons and all dividends of other Persons for
the payment of which, in either case, such Person is responsible or liable, directly or indirectly,
as obligor, guarantor or otherwise, including by means of any guarantee (other than by endorsement
of negotiable instruments for collection in the ordinary course of business); (f) all obligations
of the type referred to in clauses (a) through (d) of other Persons secured by any Lien on any
property of such Person (whether or not such obligation is assumed by such Person); and (g) to the
extent not otherwise included in this definition, Hedging Obligations of such Person.

     “Indenture” means this instrument as originally executed or as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the
applicable provisions hereof and shall include the form and terms of particular series of
Securities established as contemplated by Section 3.01.

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

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

     “Issuer” means Willis North America Inc., a Delaware corporation, until a successor Person
shall have become such pursuant to the applicable provisions of the Indenture, and thereafter
“Issuer” shall mean such successor Person.

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

     “Legal Defeasance” has the meaning specified in Section 5.03.

     “Letter of Credit Obligations” means all obligations in respect of Indebtedness of the Issuer
or any Guarantor with respect to letters of credit issued pursuant to the Credit Agreement which
Indebtedness shall be deemed to consist of (a) the aggregate maximum amount available to be drawn
under all such

4

 

letters of credit (the determination of such aggregate maximum amount to assume compliance with all
conditions for drawing) and (b) the aggregate amount that has been paid by, and not reimbursed to,
the issuers of such letters of credit.

     “Lien” means, with respect to any property of any Person, any mortgage or deed of trust,
pledge, hypothecation, assignment, deposit arrangement, security interest, lien, charge,
encumbrance, preference, priority or other security agreement or preferential arrangement of any
kind or nature whatsoever on or with respect to such property (including any capital lease
obligation, conditional sale or other title retention agreement having substantially the same
economic effect as any of the foregoing or any sale and leaseback transaction).

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

     “Moody’s” means Moody’s Investors Service, Inc.

     “Non-Payment Default” has the meaning specified in Section 4.03.

     “Obligation” means any principal, premium, interest (including interest accruing subsequent to
a bankruptcy or other similar proceeding whether or not such interest is an allowed claim
enforceable against the Issuer in a bankruptcy case under Federal Bankruptcy Law), penalties, fees,
indemnifications, reimbursements, damages and other liabilities payable pursuant to the terms of
the documentation governing any Indebtedness.

     “Officers’ Certificate” means a certificate signed by the Chairman of the Board, the President
or a Vice President, and by the Treasurer, an Assistant Treasurer, the Secretary or an Assistant
Secretary, of the Issuer or any Guarantor, as applicable, and delivered to the Trustee.

     “Opinion of Counsel” means a written opinion of counsel, who may be counsel for the Issuer or
any Guarantor, and who shall be acceptable to the Trustee.

     “Original Issue Discount Security” means any Security which provides for an amount less than
the principal amount thereof to be due and payable upon a declaration of acceleration of the
Maturity thereof pursuant to Section 6.02.

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

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

     (ii) Securities or portions thereof for whose payment or redemption money or, as
provided in Section 5.05 hereof, U.S. Government Obligations, in the necessary amount has
been theretofore deposited with the Trustee or any Paying Agent (other than the Issuer) in
trust or, except for purposes of Section 5.01, set aside and segregated in trust by the
Issuer (if the Issuer shall act as its own Paying Agent) for the Holders of such
Securities; provided that, if such Securities are to be redeemed, notice of such redemption
has been duly given pursuant to this Indenture or provision therefor satisfactory to the
Trustee has been made; and

     (iii) Securities which have been paid pursuant to Section 3.06 or in exchange for or
in lieu of which other Securities have been authenticated and delivered pursuant to this
Indenture, other than any such Securities in respect of which there shall have been
presented to the Trustee proof satisfactory to it that such Securities are held by a
protected purchaser in whose hands such Securities are valid obligations of the Issuer;

5

 

provided, however, that in determining whether the Holders of the requisite principal amount of the
Outstanding Securities have given any request, demand, authorization, direction, notice, consent or
waiver hereunder or whether a quorum is present at a meeting of Holders of Securities, (i) the
principal amount of an Original Issue Discount Security that shall be deemed to be Outstanding
shall be the amount of the principal thereof that would be due and payable as of the date of such
determination upon acceleration of the maturity thereof pursuant to Section 6.01 and (ii)
Securities owned by the Issuer or any other obligor upon the Securities or any Affiliate of the
Issuer or of such other obligor shall be disregarded and deemed not to be Outstanding, except that,
in determining whether the Trustee shall be protected in relying upon any such request, demand,
authorization, direction, notice, consent or waiver, or upon such determination as to the presence
of a quorum, only Securities which a Responsible Officer of the Trustee knows to be so owned shall
be so disregarded. Securities so owned which have been pledged in good faith may be regarded as
Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to
act with respect to such Securities and that the pledgee is not the Issuer or any other obligor
upon the Securities or any Affiliate of the Issuer or of such other obligor.

     “Parent
Guarantor” means Willis Group Holdings Public Limited Company, a company organized and existing under
the laws of Ireland, until a successor Person shall have become such pursuant to the applicable
provisions of the Indenture, and thereafter “Parent Guarantor” shall mean such successor Person.

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

     “Payment Blockage Notice” has the meaning specified in Section 4.03.

     “Payment Blockage Period” has the meaning specified in Section 4.03.

     “Payment Default” has the meaning specified in Section 4.03.

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

     “Place of Payment” when used with respect to the Securities of any series, means the place or
places where the principal of (and premium, if any) and interest on the Securities of that series
are payable as specified as contemplated by Section 3.01.

     “Predecessor Security” of any particular Security means every previous Security evidencing all
or a portion of the same debt as that evidenced by such particular Security; and, for the purposes
of this definition, any Security authenticated and delivered under Section 3.06 in exchange for or
in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same
debt as the mutilated, destroyed, lost or stolen Security.

     “Principal” of a debt security, including any Security, on any day and for any purpose means
the amount (including, without limitation, in the case of an Original Issue Discount Security, any
accrued original issue discount, but excluding interest) that is payable with respect to such debt
security as of such date and for such purpose (including, without limitation, in connection with
any sinking fund, upon any redemption at the option of the Issuer upon any purchase or exchange at
the option of the Issuer or the holder of such debt security and upon any acceleration of the
maturity of such debt security).

     “Principal Amount” of a debt security, including any Security, means the principal amount as
set forth on the face of such debt security.

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

6

 

     “Redemption Price” when used with respect to any Security to be redeemed, means the price
(exclusive of accrued interest, if any) at which it is to be redeemed pursuant to this Indenture.

     “Regular Record Date” for the interest payable on any Interest Payment Date on the Securities
of any series means the date specified for that purpose as contemplated by Section 3.01.

     “Reporting Date” shall mean, when used with respect to any series of Securities, the date (and
each successive anniversary thereof) established by a Board Resolution pursuant to Section 3.01
which shall be a date no more than ten months from the date of the initial issuance of such series
of Securities under this Indenture.

     “Representative” means the trustee, agent or representative (if any) for an issue of Senior
Indebtedness of the Issuer.

     “Responsible Officer” when used with respect to the Trustee, means any officer assigned to and
working in the corporate trust department of the Trustee with direct responsibility for the
administration of this Indenture and also means, with respect to a particular corporate trust
matter, any other officer to whom such matter is referred because of his or her knowledge of and
familiarity with the particular subject.

     “S&P” means Standard and Poor’s Ratings Group.

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

     “Security Register” and “Security Registrar” have the respective meanings specified in Section
3.05.

     “Senior Indebtedness” means (i) the Indebtedness under the Credit Agreement  and
(ii) any other Indebtedness of the Issuer, unless the instrument under which
such Indebtedness is incurred expressly provides that it is on a parity with or subordinated in
right of payment to the Securities, including, with respect to clauses (i) and (ii), interest
accruing subsequent to the filing of, or which would have accrued but for the filing of, a petition
for bankruptcy, in accordance with and at the rate (including any rate applicable upon any default
or event of default, to the extent lawful) specified in the documents evidencing or governing such
Senior Indebtedness, whether or not such interest is an allowable claim in such bankruptcy
proceeding. Notwithstanding anything to the contrary in the foregoing, “Senior Indebtedness” shall
not include:

     (1) any liability for federal, state, local or other taxes owed or owing by the
Issuer,

     (2) any obligation of the Issuer to its direct or indirect parent corporations, any
of its Subsidiaries or any other Affiliate of the Issuer,

     (3) any accounts payable or trade liabilities (including obligations in respect of
funds held for the account of third parties) arising in the ordinary course of business
(including guarantees thereof or instruments evidencing such liabilities) other than
obligations in respect of letters of credit under the Credit Agreement,

     (4) any Indebtedness that is incurred in violation of this Indenture,

     (5) Indebtedness which, when incurred and without respect to any election under
Section 1111(b) of Title 11, United States Code, is without recourse to the Issuer,

     (6) any Indebtedness, guarantee or obligation of the Issuer which is evidenced by
Subordinated Indebtedness,

     (7) Indebtedness evidenced by the Securities,

     (8) Capital Stock of the Issuer.

7

 

     “Senior Indebtedness” of any Guarantor has a correlative meaning.

     “Significant Subsidiary” means any Subsidiary of the Parent Guarantor that would be a
“significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant
to the Securities Act of 1933, as amended, as such regulation is in effect on the date hereof.

     “Special Record Date” for the payment of any Defaulted Interest means a date fixed by the
Trustee pursuant to Section 3.07.

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

     “Subordinated Indebtedness” means (a) with respect to the Issuer, Indebtedness which ranks
pari passu in right of payment to the Securities and (b) with respect to any Guarantor,
Indebtedness which ranks pari passu in right of payment to the Guarantee of such Guarantor.

     “Subsidiary” means, with respect to any Person, (i) any corporation, association, or other
business entity (other than a partnership, joint venture, limited liability company or similar
entity) of which more than 50% of the total voting power of shares of Capital Stock entitled
(without regard to the occurrence of any contingency) to vote in the election of directors,
managers or trustees thereof is at the time of determination owned or controlled, directly or
indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination
thereof and (ii) any partnership, joint venture, limited liability company or similar entity of
which (x) more than 50% of the capital accounts, distribution rights, total equity and voting
interests or general or limited partnership interests, as applicable, are owned or controlled,
directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a
combination thereof whether in the form of membership, general, special or limited partnership or
otherwise and (y) such Person or any wholly owned Subsidiary of such Person is a controlling
general partner or otherwise controls such entity.

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

     “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, and as in force at
the date as of which this instrument was executed, except as provided in Section 10.05; provided,
however, that in the event the Trust Indenture Act is amended after such date, “Trust Indenture
Act” means, with respect to the Securities of any series issued after such date, the Trust
Indenture Act of 1939 as so amended.

     “U.S. Government Obligations” has the meaning specified in Section 5.05.

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

     SECTION 1.02 Compliance Certificates and Opinions.

     Upon any application or request by the Issuer or any Guarantor to the Trustee to take any
action under any provision of this Indenture, the Issuer or such Guarantor shall furnish to the
Trustee an Officers’ Certificate stating that all conditions precedent (including any covenant
compliance with which constitutes a condition precedent), if any, provided for in this Indenture
relating to the proposed action that such action has been complied with and an Opinion of Counsel
stating that in the opinion of such counsel that such action is authorized or permitted by this
Indenture and that all such conditions

8

 

precedent (including any covenants compliance with which constitutes a condition precedent), if
any, have been complied with, except that in the case of any such application or request as to
which the furnishing of such documents is specifically required by any provision of this Indenture
relating to such particular application or request, no additional certificate or opinion need be
furnished.

     Every certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture (other than annual certificates provided pursuant to Section 11.08) shall
include:

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

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

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

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

SECTION 1.03 Form of Documents Delivered to Trustee.

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

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

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

SECTION 1.04 Acts of Holders.

     (a) Any request, demand, authorization, direction, notice, consent, waiver or other action
provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one
or more instruments of substantially similar tenor signed by such Holders in person or by agent
duly appointed in writing or by the record of the Holders voting in favor thereof at any meeting of
such Holders duly called
and held in accordance with the provisions of Article Fifteen; and, except as herein otherwise
expressly provided, such action shall become effective when such instrument or instruments or any
such record is delivered to the Trustee and, where it is hereby expressly required, to the Issuer
or any Guarantor. Such instrument or instruments or such record (and the action embodied therein
and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such

9

 

instrument or instruments or voting at such meeting. Proof of execution of any such instrument or
of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and
conclusive in favor of the Trustee, the Issuer and any Guarantor if made in the manner provided in
this Section. The record of any meeting of Holders of Securities shall be proved in the manner
provided in Section 15.07 and the record so proved shall be sufficient for any purpose of this
Indenture and conclusive in favor of the Trustee, the Issuer and any Guarantor, if made in the
manner provided in this Section.

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

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

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

     (e) The Issuer or the Trustee, as applicable, may set a date for the purpose of determining
the Holders of Securities entitled to consent, vote or take any other action referred to in this
Section 1.04, which date shall be not less than 10 days nor more than 60 days prior to the taking
of the consent, vote or other action.

SECTION 1.05 Notices, etc. to Trustee and Issuer.

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

     (1) the Trustee by any Holder or by the Issuer or any Guarantor shall be sufficient
for every purpose hereunder if made, given, furnished or filed in writing to or with the
Trustee at its Corporate Trust Office and, unless otherwise herein expressly provided, any
such document shall be deemed to be sufficiently made, given, furnished or filed upon its
receipt by a Responsible Officer of the Trustee, or

     (2) the Issuer or any Guarantor by the Trustee or by any Holder shall be sufficient
for every purpose hereunder (unless otherwise herein expressly provided) if in writing and
mailed, first-class postage prepaid, to the Issuer addressed to it at:

One Century Place

26 Century Boulevard

Nashville, TN 37214

or to any Guarantor addressed to it at:

Ten Trinity Square

London EC3P 3AX

England

10

 

or at any other address or addresses previously furnished in writing to the Trustee by the Issuer
or such Guarantor.

SECTION 1.06 Notice to Holders; Waiver.

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

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

SECTION 1.07 Conflict with Trust Indenture Act.

     If any provision hereof limits, qualifies or conflicts with the duties imposed by any of
Sections 310 to 317, inclusive, of the Trust Indenture Act through operation of Section 318(c),
such imposed duties shall control.

SECTION 1.08 Effect of Headings and Table of Contents.

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

SECTION 1.09 Successors and Assigns.

     All covenants and agreements in this Indenture by the Issuer or any Guarantor shall bind their
successors and assigns, whether so expressed or not.

SECTION 1.10 Separability Clause.

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

SECTION 1.11 Benefits of Indenture.

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

SECTION 1.12 Governing Law; Waiver of Trial by Jury.

     This Indenture and the Securities shall be governed by and construed in accordance with the
laws of the State of New York. Each of the Issuer, the Guarantors and the Trustee irrevocably
waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in
any legal proceeding arising out of or relating to this Indenture or the transactions contemplated
hereby.

11

 

SECTION 1.13 Legal Holidays.

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

ARTICLE TWO

SECURITY FORMS

SECTION 2.01 Forms Generally.

     The Securities of each series shall be in substantially the form established from time to time
by or pursuant to a Board Resolution or in one or more indentures supplemental hereto, in each case
with such appropriate insertions, omissions, substitutions and other variations as are required or
permitted by this Indenture, and may have such letters, numbers or other marks of identification
and such legends or endorsements placed thereon as may be required to comply with the rules of any
securities exchange or as may, consistently herewith, be determined by the officers executing such
Securities, as evidenced by their execution of such Securities. Any portion of the text of any
Security may be set forth on the reverse thereof, with an appropriate reference thereto on the face
of the Security. If the form of Securities of any series is established by action taken pursuant to
a Board Resolution, a copy of an appropriate record of such action shall be certified by the
Secretary or an Assistant Secretary of the Issuer and delivered to the Trustee at or prior to the
delivery of the Issuer Order contemplated by Section 3.03 for the authentication and delivery of
such Securities. Any such Board Resolution or record of such action shall have attached thereto a
true and correct copy of the form of Security referred to therein approved by or pursuant to such
Board Resolution.

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

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

SECTION 2.02 Form of Trustee’s Certificate of Authentication.

     The Trustee’s certificate of authentication on all Securities shall be in substantially the
following form:

     This is one of the Securities of the series designated therein issued under the
within-mentioned Indenture.

	 	 	 	 	 	 
	 	 	THE BANK OF NEW YORK MELLON, AS TRUSTEE	
	 
	 	 	 	 	
	 

	 	By:	 	 	
	 

	 	 	 	 	
	 

	 	 	 	Authorized Officer	

SECTION 2.03 Securities in Global Form.

     If any Security of a series is issuable in global form (a “Global Security”), such Global
Security may provide that it shall represent the aggregate amount of Outstanding Securities from
time to time endorsed thereon and may also provide that the aggregate amount of Outstanding
Securities

12

 

represented thereby may from time to time be reduced to reflect exchanges. Any endorsement of a
Global Security to reflect the amount, or any increase or decrease in the amount, of Outstanding
Securities represented thereby shall be made by the Trustee and in such manner as shall be
specified in such Global Security. Any instructions by the Issuer with respect to a Global
Security, after its initial issuance, shall be in writing but need not comply with Section 1.02.

     Global Securities may be issued in either temporary or permanent form. Permanent Global
Securities will be issued in definitive form.

ARTICLE THREE

THE SECURITIES

SECTION 3.01 Amount Unlimited; Issuable in Series.

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

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

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

     (2) the aggregate principal amount of the Securities of such series and any limit
upon the aggregate principal amount of the Securities of the series which may be
authenticated and delivered under this Indenture (except for Securities authenticated and
delivered upon registration of transfer of, or in exchange for, or in lieu of, other
securities of the series pursuant to Section 3.04, 3.05, 3.06, 10.06 or 12.07);

     (3) the date or dates on which the principal (and premium, if any) of the Securities
of the series is payable or the method of determination thereof;

     (4) the rate or rates (which may be fixed or variable), or the method of
determination thereof, at which the Securities of the series shall bear interest, if any,
including the rate of interest applicable on overdue payments of principal or interest, if
different from the rate of interest stated in the title of the Security, the date or dates
from which such interest shall accrue or the method of determination thereof, the Interest
Payment Dates on which such interest shall be payable and the Regular Record Date for the
interest payable on any Interest Payment Date;

     (5) the Paying Agent or Paying Agents for the Securities of the series if other than
the Trustee;

     (6) the Place of Payment of the Securities of the series;

     (7) if other than U.S. Dollars, the foreign currency or currencies in which
Securities of the series shall be denominated or in which payment of the principal of (and
premium, if any) or interest on Securities of the series may be made, and the particular
provisions applicable thereto
and, if applicable, the amount of the Securities of the series which entitles the Holder of
a Security of the series or its proxy to one vote for purposes of Section 15.06;

     (8) the right, if any, of the Issuer to redeem the Securities of such series and the
period or periods within which, the price or prices at which and the terms and conditions
upon which Securities of the series may be redeemed, in whole or in part, at the option of
the Issuer;

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

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

     (11) whether the Securities of the series shall be issued in whole or in part in the
form of one or more Global Securities and, in such case, the depository (the “Depository”)
for such Global Security or Securities; and the manner in which and the circumstances under
which Global Securities representing Securities of the series may be exchanged for
Securities in definitive form, if other than, or in addition to, the manner and
circumstances specified in Section 3.05(b);

     (12) if other than the principal amount thereof, the portion of the principal amount
of Securities of the series which shall be payable upon declaration of acceleration of the
Maturity thereof pursuant to Section 6.02;

     (13) if the provisions of Section 5.02 of this Indenture are to apply to the
Securities of the series, a statement indicating the same;

     (14) any deletions from or modifications of or additions to the Events of Default set
forth in Section 6.01 pertaining to the Securities of the series;

     (15) the form of the Securities of the series;

     (16) the Reporting Date of the Securities of the series; and

     (17) any other terms of a particular series and any other provisions expressing or
referring to the terms and conditions upon which the Securities of that series are to be
issued, which terms and provisions are not in conflict with the provisions of this
Indenture or do not adversely affect the rights of Holders of any other series of
Securities then Outstanding); provided, however, that the addition to or subtraction from
or variation of Articles Four, Five, Six, Nine, Eleven, Thirteen and Sixteen (and Section
1.01 insofar as it relates to the definition of certain terms as used in such Articles)
with regard to the Securities of a particular series shall not be deemed to constitute a
conflict with the provisions of those Articles.

     All Securities of any one series shall be substantially identical except as to denomination
and except as may otherwise be provided in or pursuant to such Board Resolution and set forth in
such Officers’ Certificate or in any such indenture supplemental hereto. All Securities of any one
series need not be issued at the same time, and unless otherwise provided, a series may be reopened
for issuance of additional Securities of such series without the consent of the Holders thereof.

     Except as modified in a Board Resolution, Officers’ Certificate or supplemental indenture
establishing a series of Securities, the Securities shall be subordinated in right of payment to
Senior Indebtedness as provided in Article Four. The Securities of all series shall rank on a
parity in right of payment.

     Except as modified in a Board Resolution, Officers’ Certificate or supplemental indenture
establishing a series of Securities, the Securities shall be fully and unconditionally guaranteed,
jointly and severally, by each Guarantor as provided in Article Sixteen.

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

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SECTION 3.02 Denominations.

     The Securities of each series shall be issuable in registered form without coupons in such
denominations as shall be specified as contemplated by Section 3.01. In the absence of any such
provisions with respect to the Securities of any series, the Securities of such series shall be
issuable in denominations of $1,000 and any integral multiple thereof.

SECTION 3.03 Execution, Authentication, Delivery and Dating.

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

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

     At any time and from time to time after the execution and delivery of this Indenture, the
Issuer may deliver Securities of any series executed by the Issuer to the Trustee for
authentication, together with an Issuer Order for the authentication and delivery of such
Securities, and the Trustee in accordance with the Issuer Order shall authenticate and deliver such
Securities. If any Security shall be represented by a permanent Global Security, then, for purposes
of this Section and Section 3.04, the notation of a beneficial owner’s interest therein upon
original issuance of such Security or upon exchange of a portion of a temporary Global Security
shall be deemed to be delivery in connection with the original issuance of such beneficial owner’s
interest in such permanent Global Security.

     In authenticating such Securities, and accepting the additional responsibilities under this
Indenture in relation to such Securities, the Trustee shall be entitled to receive and (subject to
Section 7.01) shall be fully protected in relying upon the documents specified in Section 314 of
the Trust Indenture Act, and, in addition:

     (1) a Board Resolution relating thereto, and if applicable, an appropriate record of
any action taken pursuant to such Board Resolution, certified by the Secretary or Assistant
Secretary of the Issuer or any Guarantor, if applicable;

     (2) an executed supplemental indenture, if any; and

     (3) an Opinion of Counsel which shall state:

     (A) that the form and terms of such Securities have been established by or
pursuant to Board Resolutions, by a supplemental indenture or by both such
resolution or resolutions and such supplemental indenture in conformity with the
provisions of this Indenture;

     (B) that the supplemental indenture, if any, when executed and delivered by
the Issuer, any Guarantor and the Trustee, will constitute a valid and legally
binding obligation of the Issuer and such Guarantor; and

     (C) that such Securities, when authenticated and delivered by the Trustee and
issued by the Issuer and any Guarantor in the manner and subject to any conditions
specified in such Opinion of Counsel, will constitute valid and legally binding
obligations of the
Issuer and each such Guarantor, if applicable, enforceable in accordance with their
terms, subject to bankruptcy, insolvency, reorganization and other laws of general
applicability relating to or affecting the enforcement of creditors’ rights and to
general equity principles, and will be entitled to the benefits of this Indenture.

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

     Notwithstanding the provisions of Section 3.01 and of this Section 3.03, if all Securities of
a series are not to be originally issued at one time, it shall not be necessary to deliver the
Board Resolution and the Officers’ Certificate otherwise required pursuant to Section 3.01 or the
Board Resolution and Opinions of Counsel otherwise require pursuant to this Section 3.03 at or
prior to the time of authentication of each Security of such series, if such documents are
delivered at or prior to the authentication upon original issuance of the first Security of such
series to be issued.

     Each Security shall be dated the date of its authentication.

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

SECTION 3.04 Temporary Securities.

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

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

SECTION 3.05 Registration, Registration of Transfer and Exchange Global Securities Representing
the Securities.

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

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

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     Except as otherwise provided in this Article Three, at the option of the Holder, Securities of
any series may be exchanged for other Securities of the same series, of any authorized
denominations and of an equal aggregate principal amount, upon surrender of the Securities to be
exchanged at such office or agency. Whenever any Securities are so surrendered for exchange, the
Issuer shall execute, and the Trustee shall authenticate and deliver, the Securities which the
Holder making the exchange is entitled to receive.

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

     Every Security presented or surrendered for registration of transfer or for exchange shall (if
so required by the Issuer or the Trustee) be duly endorsed, or be accompanied by a written
instrument of transfer in form satisfactory to the Issuer and the Security Registrar duly executed,
by the Holder thereof or his attorney duly authorized in writing with such signature guaranteed by
a commercial bank reasonably acceptable to the Trustee or by a member of a national securities
exchange.

     No service charge shall be made for any registration of transfer or exchange of Securities,
but the Issuer may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any registration of transfer or exchange of
Securities, other than exchanges pursuant to Section 3.04, 10.06 or 12.07 not involving any
transfer.

     The Issuer shall not be required (i) to issue, register the transfer of or exchange Securities
of any series during a period beginning at the opening of business 15 days before the day of the
mailing of a notice of redemption of Securities of that series selected for redemption under
Section 12.03 and ending at the close of business on the day of such mailing, or (ii) to register
the transfer of or exchange of any Security so selected for redemption in whole or in part, except
the unredeemed portion of any Security being redeemed in part.

     (b) If the Issuer shall establish pursuant to Section 3.01 that the Securities of a series
are to be issued in whole or in part in the form of one or more Global Securities, then the Issuer
shall execute and the Trustee shall, in accordance with Section 3.03 and the Issuer Order with
respect to such series, authenticate and deliver one or more Global Securities in temporary or
permanent form that (i) shall represent and shall be denominated in an amount equal to the
aggregate principal amount of the Outstanding Securities of such series to be represented by one or
more Global Securities, (ii) shall be registered in the name of the Depositary for such Global
Security or Securities or the nominee of such Depositary, (iii) shall be delivered by the Trustee
or delivered or held pursuant to such Depositary’s instruction, and (iv) unless otherwise provided
for, the Securities of such Series pursuant to Section 3.01, shall bear a legend substantially to
the following effect: “This Security may not be transferred except as a whole by the Depositary to
a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee
of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee
of such successor Depositary, unless and until this Security is exchanged in whole or in part for
Securities in definitive form.”

     Each Depositary designated pursuant to Section 3.01 must, at the time of its designation and
at all times while it serves as Depositary, be a clearing agency registered under the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), and any other applicable statute or
regulation.

     If at any time the Depositary for the Securities of a series notifies the Issuer that it is
unwilling or unable to continue as Depositary for the Securities of such series or if at any time
the Depositary for Securities of a series shall no longer be a clearing agency registered and in
good standing under the Exchange Act or other applicable statute or regulation (as required by this
Section 3.05), the Issuer shall appoint a successor Depositary eligible under this Section 3.05
with respect to the Securities of

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such series. If a successor Depositary for the Securities of such series is not appointed by the
Issuer within 90 days after the Issuer receives such notice or becomes aware of such condition, the
Issuer shall execute, and the Trustee, upon receipt of an Issuer Order for the authentication and
delivery of definitive Securities of such series, will authenticate and deliver, Securities of such
series in definitive form in an aggregate principal amount equal to the principal amount of the
Global Security or Securities representing such series in exchange for such Global Security or
Securities.

     The Issuer may at any time and in its sole discretion determine that the Securities of any
series issued in the form of one or more Global Securities shall no longer be represented by such
Global Security or Securities. In such event, the Issuer shall execute, and the Trustee, upon
receipt of an Issuer Order for the authentication and delivery of definitive Securities of such
series, will authenticate and deliver, Securities of such series in definitive form and in an
aggregate principal amount equal to the principal amount of the Global Security or Securities
representing such series in exchange for such Global Security or Securities.

     If the Securities of any series shall have been issued in the form of one or more Global
Securities and if an Event of Default with respect to the Securities of such series shall have
occurred and be continuing, the Issuer may, and upon the request of the Trustee shall, promptly
execute, and the Trustee, upon receipt of an Issuer Order for the authentication and delivery of
definitive Securities of such series, will authenticate and deliver, Securities of such series in
definitive form and in an aggregate principal amount equal to the principal amount of the Global
Security or Securities representing such series in exchange for such Global Security or Securities.

     The Depositary for such series of Securities may surrender a Global Security for such series
of Securities in exchange in whole or in part for Securities of such series in definitive form on
such terms as are acceptable to the Issuer and such Depositary. Thereupon, the Issuer shall execute
and the Trustee shall authenticate and deliver, without charge:

     (i) to each Person specified by the Depositary a new Security or Securities of the
same series, of any authorized denomination as requested by such Person in an aggregate
principal amount equal to and in exchange for such Person’s beneficial interest in the
Global Security; and

     (ii) to the Depositary a new Global Security in a denomination equal to the
difference, if any, between the principal amount of the surrendered Global Security and the
aggregate principal amount of Securities delivered to holders thereof.

     Upon the exchange of a Global Security for Securities in definitive form, such Global Security
shall be cancelled by the Trustee. Securities issued in exchange for a Global Security pursuant to
this subsection (b) shall be registered in such names and in such authorized denominations as the
Depositary for such Global Security, pursuant to instructions from its direct or indirect
participants or otherwise, shall instruct the Trustee. The Trustee shall deliver such Securities to
the Persons in whose names such Securities are so registered.

SECTION 3.06 Mutilated, Destroyed, Lost and Stolen Securities.

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

     If there shall be delivered to the Issuer and the Trustee (i) evidence to their satisfaction
of the destruction, loss or theft of any Security and (ii) such security or indemnity as may be
required by them to save each of them and any agent of either of them harmless, then, in the
absence of notice to the Issuer or
the Trustee that such Security has been acquired by a protected purchaser, the Issuer shall execute
and upon its request the Trustee shall authenticate and deliver, in lieu of any such destroyed,

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lost or stolen Security, a new Security of the same series and of like tenor and principal amount
and bearing a number not contemporaneously outstanding.

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

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

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

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

SECTION 3.07 Payment of Interest; Interest Rights Preserved.

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

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

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

     (1) The Issuer may elect to make payment of any Defaulted Interest to the Persons in
whose names the Securities of such series (or their respective Predecessor Securities) are
registered at the close of business on a Special Record Date for the payment of such
Defaulted Interest, which shall be fixed in the following manner. The Issuer shall notify
the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each
Security of such series and the date of the proposed payment, and at the same time the
Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount
proposed to be paid in respect of such Defaulted Interest or shall make arrangements
satisfactory to the Trustee for such deposit prior to the date of the proposed payment,
such money when deposited to be held in trust for the benefit of the Persons entitled to
such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a
Special Record Date for the payment of such Defaulted Interest which shall be not more than
15 days and not less than 10 days prior to the date of the proposed payment and not less
than 10 days after the receipt by the Trustee of the notice of the proposed payment. The
Trustee shall promptly notify the Issuer of such Special Record Date and, in the name and
at the expense of the Issuer, shall cause notice of the proposed payment of such Defaulted
Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to
each Holder of Securities of such series at his address as it appears in the Security
Register, not less than 10 days prior to such Special Record Date. Notice of the proposed
payment of such Defaulted Interest and the Special

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Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the
Persons in whose names the Securities of such series (or their respective Predecessor
Securities) are registered at the close of business on such Special Record Date and shall
no longer be payable pursuant to the following clause (2).

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

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

SECTION 3.08 Persons Deemed Owners.

     Prior to due presentment of a Security for registration of transfer, the Issuer, any
Guarantor, the Trustee and any agent of the Issuer, any Guarantor or the Trustee may treat the
Person in whose name such Security is registered as the owner of such Security for the purpose of
receiving payment of principal of (and premium, if any) and (subject to Section 3.07) interest on
such Security and for all other purposes whatsoever, whether or not such Security be overdue, and
none of the Issuer, any Guarantor, the Trustee or any agent of the Issuer, any Guarantor or the
Trustee shall be affected by notice to the contrary.

SECTION 3.09 Cancellation.

     All Securities surrendered for payment, redemption, conversion, registration of transfer or
exchange or for credit against any sinking fund payment or analogous obligation shall, if
surrendered to any Person other than the Trustee, be delivered to the Trustee and promptly shall be
cancelled by it and, if surrendered to the Trustee, shall be promptly cancelled by it. The Issuer
or any Guarantor may at any time deliver to the Trustee for cancellation any Securities previously
authenticated and delivered hereunder which the Issuer or such Guarantor may have acquired in any
manner whatsoever, and all Securities so delivered promptly shall be cancelled by the Trustee. No
Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as
provided in this Section, except as expressly permitted by this Indenture. All cancelled Securities
held by the Trustee shall be disposed of in accordance with the Trustee’s customary procedures
unless directed by an Issuer Order. The acquisition of any Securities by the Issuer or any such
Guarantor shall not operate as a redemption or satisfaction of the Indebtedness represented thereby
unless and until such Securities are surrendered to the Trustee for cancellation. Permanent Global
Securities shall not be destroyed until exchanged in full for definitive Securities or until
payment thereon is made in full.

SECTION 3.10 Computation of Interest.

     Except as otherwise specified as contemplated by Section 3.01 for Securities of any series,
interest on the Securities of each series shall be computed on the basis of a year of twelve 30-day
months.

SECTION 3.11 CUSIP Numbers.

     The Issuer in issuing the Securities may use “CUSIP” numbers (if then generally in use), and,
if so, the Trustee shall use “CUSIP” numbers in notices of redemption as a convenience to Holders;
provided that any such notice may state that no representation is made as to the correctness of
such numbers either as printed on the Securities or as contained in any notice of a redemption and
that reliance may be placed only on the other identification numbers printed on the Securities, and
any such redemption shall not be affected
by any defect in or omission of such numbers. The Issuer will promptly notify the Trustee in
writing of any change in the “CUSIP” numbers.

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ARTICLE FOUR

SUBORDINATION OF SECURITIES

SECTION 4.01 Agreement To Subordinate.

     (a) The Issuer agrees, and each Holder by accepting a Security of any series agrees, that
the Indebtedness evidenced by the Securities is subordinated in right of payment, to the extent and
in the manner provided in this Article Four, to the prior payment in full in cash or Cash
Equivalents of all Senior Indebtedness of the Issuer and that the subordination is for the benefit
of and enforceable by the holders of such Senior Indebtedness. The Securities shall in all respects
rank pari passu with all other Subordinated Indebtedness of the Issuer; and only Indebtedness of
the Issuer that is Senior Indebtedness of the Issuer shall rank senior to the Securities in
accordance with the provisions set forth herein. All provisions of this Article Four shall be
subject to Section 4.12.

     (b) Each Guarantor agrees, and each Holder by accepting a Security of any series agrees,
that the Indebtedness evidenced by the Guarantees is subordinated in right of payment, to the
extent and in the manner provided in this Article Four, to the prior payment in full in cash or
Cash Equivalents of all Senior Indebtedness of such Guarantor and that the subordination is for the
benefit of and enforceable by the holders of such Senior Indebtedness. The Guarantees shall in all
respects rank pari passu with all other Subordinated Indebtedness of the Issuer; and only
Indebtedness of the Guarantor that is Senior Indebtedness of such Guarantor shall rank senior to
the Guarantees in accordance with the provisions set forth herein. All provisions of this Article
Four shall be subject to Section 4.12.

SECTION 4.02 Liquidation, Dissolution, Bankruptcy.

     Upon any distribution to creditors of the Issuer in a liquidation or dissolution of the Issuer
or in a bankruptcy, reorganization, insolvency, receivership or similar proceeding relating to the
Issuer or its property, an assignment for the benefit of creditors or any marshaling of the
Issuer’s assets and liabilities, the holders of Senior Indebtedness shall be entitled to receive
payment in full in cash or Cash Equivalents of such Senior Indebtedness and all outstanding Letter
of Credit Obligations shall be fully cash collateralized before the Holders shall be entitled to
receive any payment with respect to the Securities, and until all Senior Indebtedness is paid in
full in cash or Cash Equivalents, any distribution to which the Holders would be entitled shall be
made to the holders of Senior Indebtedness (except that Holders may receive (i) shares of stock and
any debt securities that are subordinated at least to the same extent as the Securities to (a)
Senior Indebtedness and (b) any securities issued in exchange for Senior Indebtedness and (ii)
payments and other distributions made from the trusts described in Section 5.01).

SECTION 4.03 Default on Senior Indebtedness.

     The Issuer shall not make any payment upon or in respect of the Securities (except that
Holders may receive (i) shares of stock and any debt securities that are subordinated at least to
the same extent as the Securities to (a) Senior Indebtedness and (b) any securities issued in
exchange for Senior Indebtedness and (ii) payments and other distributions made from the trusts
described in Section 5.01) until all Senior Indebtedness has been paid in full in cash or Cash
Equivalents if (i) a default in the payment of the principal of, premium, if any, or interest on,
or of unreimbursed amounts under drawn letters of credit or in respect of bankers’ acceptances or
fees relating to letters of credit or bankers’ acceptances constituting, Designated Senior
Indebtedness occurs and is continuing beyond any applicable period of grace in the indenture,
agreement or other document governing such Designated Senior Indebtedness (a “Payment Default”) or
(ii) any other default occurs and is continuing with respect to Designated Senior Indebtedness that
permits holders of the Designated Senior Indebtedness as to which such default relates to
accelerate its
maturity without further notice (except such notice as may be required to effect such acceleration)
or the expiration of any applicable grace periods (a

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“Non-Payment Default”) and the Trustee receives a notice of such default (a “Payment Blockage
Notice”) from a representative of holders of such Designated Senior Indebtedness. Payments on the
Securities, including any missed payments, may and shall be resumed (a) in the case of a Payment
Default, upon the date on which such default is cured or waived or shall have ceased to exist or
such Designated Senior Indebtedness shall have been discharged or paid in full in cash or Cash
Equivalents and all outstanding Letter of Credit Obligations shall have been fully cash
collateralized and (b) in case of a Non-Payment Default, the earlier of (x) the date on which such
nonpayment default is cured or waived, (y) 179 days after the date on which the applicable Payment
Blockage Notice is received (each such period, the “Payment Blockage Period”) or (z) the date such
Payment Blockage Period shall be terminated by written notice to the Trustee from the requisite
holders of such Designated Senior Indebtedness necessary to terminate such period or from their
representative. No new Payment Blockage Period may be commenced unless and until 365 days have
elapsed since the effectiveness of the immediately preceding Payment Blockage Notice. However, if
any Payment Blockage Notice within such 365-day period is given by or on behalf of any holders of
Designated Senior Indebtedness (other than the agent under the Senior Credit Facilities), the agent
under the Senior Credit Facilities may give another Payment Blockage Notice within such period. In
no event, however, shall the total number of days during which any Payment Blockage Period or
Periods is in effect exceed 179 days in the aggregate during any 365 consecutive day period. No
Non-Payment Default that existed or was continuing on the date of delivery of any Payment Blockage
Notice to the Trustee shall be, or be made, the basis for a subsequent Payment Blockage Notice
unless such default shall have been cured or waived for a period of not less than 90 days.

SECTION 4.04 Acceleration of Payment of Securities.

     If payment of the Securities of any series is accelerated because of an Event of Default, the
Issuer or the Trustee shall promptly notify the holders of the Designated Senior Indebtedness (or
their Representative) of the acceleration. If any Designated Senior Indebtedness is outstanding,
the Issuer shall not pay the Securities until five Business Days after such holders or the
Representative of the Designated Senior Indebtedness receive notice of such acceleration and,
thereafter, shall pay the Securities only if this Article Four otherwise permits payment at that
time.

SECTION 4.05 When Distribution Must Be Paid Over.

     If a distribution is made to Holders that because of this Article Four should not have been
made to them, the Holders who receive the distribution shall hold it in trust for holders of Senior
Indebtedness of the Issuer and pay it over to them as their interests may appear.

SECTION 4.06 Subrogation.

     After all Senior Indebtedness of the Issuer is paid in full and until the Securities are paid
in full, Holders shall be subrogated to the rights of holders of such Senior Indebtedness to
receive distributions applicable to Senior Indebtedness. A distribution made under this Article
Four to holders of such Senior Indebtedness which otherwise would have been made to Holders is not,
as between the Issuer and Holders, a payment by the Issuer on such Senior Indebtedness.

SECTION 4.07 Relative Rights.

     This Article Four defines the relative rights of Holders and holders of Senior Indebtedness of
the Issuer. Nothing in this Indenture shall:

     (1) impair, as between the Issuer and Holders, the obligation of the Issuer, which
is absolute and unconditional, to pay principal of and interest on and liquidated damages
in respect of, the Securities in accordance with their terms; or

22

 

     (2) prevent the Trustee or any Holder from exercising its available remedies upon
the occurrence of an Event of Default, subject to the rights of holders of Senior
Indebtedness of the Issuer to receive distributions otherwise payable to Holders.

SECTION 4.08 Subordination May Not Be Impaired by Issuer.

     No right of any holder of Senior Indebtedness of the Issuer to enforce the subordination of
the Indebtedness evidenced by the Securities shall be impaired by any act or failure to act by the
Issuer or by its failure to comply with this Indenture.

SECTION 4.09 Rights of Trustee and Paying Agent.

     Notwithstanding Section 4.03, the Trustee or Paying Agent may continue to make payments on the
Securities and shall not be charged with knowledge of the existence of facts that would prohibit
the making of any such payments unless, not less than two Business Days prior to the date of such
payment, a Responsible Officer of the Trustee receives notice satisfactory to it that payments may
not be made under this Article Four. The Issuer, the Registrar, the Paying Agent, a Representative
or a holder of Senior Indebtedness of the Issuer may give the notice; provided, however, that, if
an issue of Senior Indebtedness of the Issuer has a Representative, only the Representative may
give the notice.

     The Trustee in its individual or any other capacity may hold Senior Indebtedness of the Issuer
with the same rights it would have if it were not Trustee. The Registrar and the Paying Agent may
do the same with like rights. The Trustee shall be entitled to all the rights set forth in this
Article Four with respect to any Senior Indebtedness of the Issuer which may at any time be held by
it, to the same extent as any other holder of such Senior Indebtedness; and nothing in Article
Seven shall deprive the Trustee of any of its rights as such holder. Nothing in this Article Four
shall apply to claims of, or payments to, the Trustee under or pursuant to Section 7.07.

SECTION 4.10 Distribution or Notice to Representative.

     Whenever a distribution is to be made or a notice given to holders of Senior Indebtedness of
the Issuer, the distribution may be made and the notice given to their Representative (if any).

SECTION 4.11 Article Four Not to Prevent Events of Default or Limit Right to Accelerate.

     The failure to make a payment pursuant to the Securities by reason of any provision in this
Article Four shall not be construed as preventing the occurrence of an Event of Default. Nothing in
this Article Four shall have any effect on the right of the Holders or the Trustee to accelerate
the maturity of the Securities.

SECTION 4.12 Trust Moneys Not Subordinated.

     Notwithstanding anything contained herein to the contrary, payments from money or the proceeds
of Government Securities held in trust under Article Five by the Trustee for the payment of
principal of and interest on the Securities shall not be subordinated to the prior payment of any
Senior Indebtedness of the Issuer or subject to the restrictions set forth in this Article Four,
and none of the Holders shall be obligated to pay over any such amount to the Issuer or any holder
of Senior Indebtedness of the Issuer or any other creditor of the Issuer.

SECTION 4.13 Trustee Entitled to Rely.

     Upon any payment or distribution pursuant to this Article Four, the Trustee and the Holders
shall be entitled to rely (i) upon any order or decree of a court of competent jurisdiction in
which any proceedings of the nature referred to in Section 4.02 are pending, (ii) upon a
certificate of the liquidating trustee or agent or other Person making such payment or distribution
to the Trustee or to the Holders or (iii) upon the Representatives for the holders of Senior
Indebtedness of the Issuer for the purpose of ascertaining the Persons entitled to participate in
such payment or distribution, the

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holders of such Senior Indebtedness and other Indebtedness of the Issuer, the amount thereof or
payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent
thereto or to this Article Four. In the event that the Trustee determines, in good faith, that
evidence is required with respect to the right of any Person as a holder of Senior Indebtedness of
the Issuer to participate in any payment or distribution pursuant to this Article Four, the Trustee
may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the
amount of such Senior Indebtedness held by such Person, the extent to which such Person is entitled
to participate in such payment or distribution and other facts pertinent to the rights of such
Person under this Article Four, 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. The provisions of Sections 7.01 and 7.03 shall be applicable to all actions or
omissions of actions by the Trustee pursuant to this Article Four.

SECTION 4.14 Trustee to Effectuate Subordination.

     Each Holder by accepting a Security of any series authorizes and directs the Trustee on his
behalf to take such action as may be necessary or appropriate to acknowledge or effectuate the
subordination between the Holders and the holders of Senior Indebtedness of the Issuer as provided
in this Article Four and appoints the Trustee as attorney-in-fact for any and all such purposes.

SECTION 4.15 Trustee Not Fiduciary for Holders of Senior Indebtedness.

     The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior
Indebtedness of the Issuer and shall not be liable to any such holders if it shall mistakenly pay
over or distribute to Holders or the Issuer or any other Person, money or assets to which any
holders of Senior Indebtedness of the Issuer shall be entitled by virtue of this Article Four or
otherwise.

SECTION 4.16 Reliance by Holders of Senior Indebtedness on Subordination Provisions.

     (a) Each Holder by accepting a Security of any series acknowledges and agrees that the
foregoing subordination provisions are, and are intended to be, an inducement and a consideration
to each holder of any Senior Indebtedness of the Issuer, whether such Senior Indebtedness was
created or acquired before or after the issuance of the Securities, to acquire and continue to
hold, or to continue to hold, such Senior Indebtedness and such holder of such Senior Indebtedness
shall be deemed conclusively to have relied on such subordination provisions in acquiring and
continuing to hold, or in continuing to hold, such Senior Indebtedness.

     (b) Without in any way limiting the generality of paragraph (a) of this Section, 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, without incurring responsibility to the Holders and without impairing
or releasing the subordination provided in this Article Four or the obligations hereunder of the
Holders to the holders of Senior Indebtedness, do any one or more of the following: (1) 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; (2) sell, exchange, release or otherwise deal with any property pledged, mortgaged
or otherwise securing Senior Indebtedness; (3) release any Person liable in any manner for the
collection of Senior Indebtedness; and (4) exercise or refrain from exercising any rights against
the Issuer, any Guarantor or any other Person.

SECTION 4.17 Trustee’s Compensation Not Prejudiced.

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

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SECTION 4.18 Defeasance.

     The terms of this Article Four shall not apply to payments from money or the proceeds of U.S.
Government Securities held in trust by the Trustee for the payment of principal of and interest on
the Securities pursuant to the provisions described in Section 5.03.

ARTICLE FIVE

SATISFACTION AND DISCHARGE; DEFEASANCE

SECTION 5.01 Satisfaction and Discharge of Securities of any Series.

     The Issuer shall be deemed to have satisfied and discharged the entire Indebtedness on all the
Securities of any particular series (except as to any surviving rights of registration of transfer
or exchange of Securities herein expressly provided for), and the Trustee, upon Issuer Request and
at the expense of the Issuer, shall execute such instruments as may be requested by the Issuer
acknowledging satisfaction and discharge of such Indebtedness, when

     (a) either

     (1) all Securities theretofore authenticated and delivered (other than (i)
Securities which have been destroyed, lost or stolen and which have been replaced or paid
as provided in Section 3.06 and (ii) Securities for whose payment money has theretofore
been deposited in trust or segregated and held in trust by the Issuer and thereafter repaid
to the Issuer or discharged from such trust, as provided in Section 11.03) have been
delivered to the Trustee for cancellation; or

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

     (A) have become due and payable, or

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

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

and the Issuer or any Guarantor, in the case of (A), (B) or (C) above, has deposited or
caused to be deposited with the Trustee as trust funds in trust for the purpose an amount
sufficient to pay and discharge the entire Indebtedness on such Securities not theretofore
delivered to the Trustee for cancellation (other than Securities which have been destroyed,
lost or stolen and which have been replaced or paid as provided in Section 3.06), for
principal (and premium, if any) and interest to the date of such deposit (in the case of
Securities which have become due and payable) or to the Stated Maturity or Redemption Date,
as the case may be;

     (b) the Issuer or any Guarantor has paid or caused to be paid all other sums payable
hereunder by the Issuer or any Guarantor; and

     (c) the Issuer has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent herein provided for relating to the
satisfaction and discharge of the entire Indebtedness on all Securities of such series have been
complied with.

     Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the
Issuer and each Guarantor to the Trustee under Section 7.07 and, if money shall have been deposited
with the Trustee pursuant to subclause (B) of clause (2) of this Section, the obligations of the
Trustee under Section 5.03 and the last paragraph of Section 11.03 shall survive.

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SECTION 5.02 Option to Effect Legal Defeasance or Covenant Defeasance.

     The Issuer may, at the option of its Board of Directors evidenced by a supplemental indenture
or, at any time, by a Board Resolution set forth in an Officers’ Certificate with respect to the
Securities of any series, unless otherwise specified pursuant to Section 3.01 with respect to a
particular series of Securities, elect to have either Section 5.03 or 5.04 be applied to all of the
Outstanding Securities of that series upon compliance with the conditions set forth below in this
Article Five.

SECTION 5.03 Legal Defeasance and Discharge.

     Upon the Issuer’s exercise under Section 5.02 of the option applicable to this Section 5.03,
the Issuer shall be deemed to have been discharged from its obligations with respect to all
Outstanding Securities of the particular series and any coupons appertaining thereto on the date
the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose,
such Legal Defeasance means that the Issuer shall be deemed to have paid and discharged all the
obligations relating to the Outstanding Securities of that series, including any coupons
appertaining thereto, and the Securities of that series, including any coupons appertaining
thereto, shall thereafter be deemed to be “outstanding” only for the purposes of Section 5.06 and
the other Sections of this Indenture referred to below in this Section 5.03, and to have satisfied
all of its other obligations under such Securities and any coupons appertaining thereto and this
Indenture and cured all then existing Events of Default (and the Trustee, on demand of and at the
expense of the Issuer, shall execute proper instruments acknowledging the same), except for the
following which shall survive until otherwise terminated or discharged hereunder: (i) the Issuer’s
or any Guarantor’s obligations, as the case may be, with respect to Securities of such series under
Sections 3.05, 3.06, 11.02 and 11.03, (ii) rights of Holders to receive payments of the principal
of (and premium, if any) and interest, if any, on the Securities of such series as they shall
become due from time to time and other rights, duties and obligations of Holders as beneficiaries
hereof with respect to the amounts so deposited with the Trustee, (iii) the rights, obligations and
immunities of the Trustee hereunder (for which purposes the Securities of such series shall be
deemed outstanding), (iv) this Article Five and the obligations set forth in Section 5.06 hereof
and (v) the obligations of the Issuer and each Guarantor under Section 7.07 hereof.

     Subject to compliance with this Article Five, the Issuer may exercise its option under Section
5.03 notwithstanding the prior exercise of its option under Section 5.04 with respect to the
Securities of a particular series and any coupons appertaining thereto.

SECTION 5.04 Covenant Defeasance.

     Upon the Issuer’s exercise under Section 5.02 of the option applicable to this Section 5.04,
the Issuer shall be released from any obligations under the covenants contained in Sections 11.04,
11.05, 11.06, 11.08 and 11.09 hereof or established pursuant to Section 3.01 or 10.01 hereof with
respect to the Outstanding Securities of the particular series on and after the date the conditions
set forth below are satisfied (hereinafter, “Covenant Defeasance”), and the Securities of that
series and any coupons appertaining thereto shall thereafter be deemed not “Outstanding” for the
purposes 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 (it being understood that such Securities shall not be deemed
outstanding for accounting purposes). For this purpose, such Covenant Defeasance means that, with
respect to the Outstanding Securities of that series and any coupons appertaining thereto, the
Issuer 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 Event of Default under Section 6.01(4) or any Event of Default specified
pursuant to Section 3.01 or 10.01 but, except as specified above, the remainder of this Indenture
and the Securities of that series shall be unaffected thereby.

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SECTION 5.05 Conditions to Legal or Covenant Defeasance.

     The following shall be the conditions to the application of either Section 5.03 or Section
5.04 to the Outstanding Securities of a particular series:

     (a) the Issuer must irrevocably deposit, or cause to be irrevocably deposited, with the
Trustee for the Securities of that series, in trust, for the benefit of the Holders of the
Securities of that series, cash in the currency or currency unit in which the Securities of that
series are payable (except as otherwise specified pursuant to Section 301 for the Securities of
that series), U.S. Government Obligations or a combination thereof in such amounts as will be
sufficient to pay the principal of, premium, if any, and interest, if any, due on the outstanding
Securities of that series and any related coupons at the Stated Maturity, or on the applicable
Redemption Date, as the case may be, with respect to the outstanding Securities of that series and
any related coupons;

     (b) in the case of Legal Defeasance only, the Issuer shall have delivered to the Trustee for
the Securities of that series (1) an Opinion of Counsel confirming that, subject to customary
assumptions and exclusions, since the date on which Securities of such series were originally
issued, there has been a change in the applicable U.S. Federal income tax law, to the effect that,
and based thereon such Opinion of Counsel shall confirm that, subject to customary assumptions and
exclusions, the Holders of the Outstanding Securities of that series will not recognize income,
gain or loss for U.S. Federal income tax purposes as a result of such Legal Defeasance and will be
subject to U.S. Federal income tax on the same amounts, in the same manner and at the same times as
would have been the case if such Legal Defeasance had not occurred or (2) a copy of a ruling or
other formal statement or action to that effect received from or published by the U.S. Internal
Revenue Service;

     (c) in the case of Covenant Defeasance only, the Issuer shall have delivered to the Trustee
for the Securities of that series an Opinion of Counsel confirming that, subject to customary
assumptions and exclusions, the Holders of the Outstanding Securities of that series will not
recognize income, gain or loss for U.S. Federal income tax purposes as a result of such Covenant
Defeasance and will be subject to such tax on the same amounts, in the same manner and at the same
times as would have been the case if such Covenant Defeasance had not occurred;

     (d) no Event of Default or event which with the giving of notice or the lapse of time, or
both, would become an Event of Default with respect to the Securities of that series (other than
any event resulting from the borrowing of funds to be applied to make such deposit) shall have
occurred and be continuing on the date of such deposit;

     (e) such Legal Defeasance or Covenant Defeasance shall not result in a breach or violation
of, or constitute a default under any material agreement (other than this Indenture) or instrument
to which the Issuer is a party or by which the Issuer is bound; and

     (f) the Issuer shall have delivered to the Trustee for the Securities of that series an
Officers’ Certificate and an Opinion of Counsel (which opinion of counsel may be subject to
customary assumptions and exclusions) each stating that all conditions precedent provided for or
relating to the Legal Defeasance or the Covenant Defeasance, as the case may be, have been complied
with.

     As used in this Article Five, “U.S. Government Obligations” means securities that are (i)
direct obligations of the United States of America for 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 of America the timely payment of which is unconditionally
guaranteed as a full faith and credit obligation of the United States of America, which, in either
case under clauses (i) or (ii), are not callable or redeemable at the option of the issuer thereof,
and will also include a depository receipt issued by a bank or trust company as custodian with
respect to any such U.S. Government Obligation or a specified 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 depository receipt, provided that (except as required

27

 

by law) such custodian is not authorized to make any deduction from the amount payable to the
holder of such depository 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 depository receipt.

SECTION 5.06 Survival of Certain Obligations.

     Notwithstanding the satisfaction and discharge of the Securities of a particular series
referred to in Sections 5.01, 5.02, 5.04, or 5.05, the respective obligations of the Issuer and the
Trustee for the Securities of a particular series under Sections 3.03, 3.04, 3.05, 3.06, 3.09,
5.07, 5.08, 5.09 and 6.08, Article Seven, and Sections 8.01, 8.02, 11.02, 11.03 and 11.04, shall
survive with respect to Securities of that series until the Securities of that series are no longer
outstanding, and thereafter the obligations of the Issuer and the Trustee for the Securities of a
particular series with respect to that series under Sections 5.07, 5.08 and 5.09 shall survive.
Nothing contained in this Article Five shall abrogate any of the obligations or duties of the
Trustee of any series of Securities under this Indenture.

SECTION 5.07 Application of Trust Money.

     Subject to the provisions of the last paragraph of Section 11.03, all money deposited with the
Trustee pursuant to Sections 5.01 and 5.02 shall be held in trust and applied by it, in accordance
with the provisions of the Securities and this Indenture, to the payment, either directly or
through any Paying Agent (including the Issuer or any Guarantor acting as its own Paying Agent) as
the Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if any)
and interest for whose payment such money has been deposited with the Trustee.

SECTION 5.08 Repayment of Moneys Held by Paying Agent.

     Any money deposited with the Trustee or any other Paying Agent remaining unclaimed by the
Holders of any Securities for two years after the date upon which the principal of or interest on
such Securities shall have become due and payable, shall be repaid to the Issuer by the Trustee or
any such other Paying Agent and such Holders shall thereafter be entitled to look to the Issuer
only as general creditors for payment thereof (unless otherwise provided by law); provided,
however, that, before the Trustee or any such other Paying Agent is required to make any such
payment to the Issuer, the Trustee may, upon the request of the Issuer and at the expense of the
Issuer, cause to be published once in an Authorized Newspaper a notice that such money remains
unclaimed and that, after the date set forth in said notice, the balance of such money then
unclaimed will be returned to the Issuer.

SECTION 5.09 Reinstatement.

     If the Trustee is unable to apply any money or U.S. Government Obligations in accordance with
Section 5.01 or 5.02, as the case may be, 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 Issuer’s and each Guarantor’s obligations under this Indenture
and the Securities shall be revived and reinstated as though no deposit had occurred pursuant to
Section 5.01 or 5.02, as the case may be, until such time as the Trustee is permitted to apply all
such money or U.S. Government Obligations in accordance with Section 5.01 or 5.02, as the case may
be; provided that, if the Issuer or any Guarantor has made payment of principal of, or interest on
any Securities because of the reinstatement of its obligations, the Issuer 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.

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ARTICLE SIX

REMEDIES OF THE TRUSTEE AND

HOLDERS ON EVENT OF DEFAULT

SECTION 6.01 Events of Default.

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

     (1) default in the payment of interest upon any Security of that series when it
becomes due and payable, and continuance of such default for a period of 30 days (whether
or not such default shall be by reason of the operation of the provisions of Article Four);
or

     (2) default in the payment of the principal of (or premium, if any, on) any Security
of that series at its Maturity (whether or not such default shall be by reason of the
operation of the provisions of Article Four); or

     (3) default in the deposit of any sinking fund payment, when and as due by the terms
of any Security of that series (whether or not such default shall be by reason of the
operation of the provisions of Article Four); or

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

     (5) the entry by a court having jurisdiction in the premises of (A) a decree or
order for relief in respect of the Parent Guarantor, the Issuer or any Significant
Subsidiary in an involuntary case or proceeding under any applicable Bankruptcy Law or (B)
a decree or order adjudging the Parent Guarantor, the Issuer or any Significant Subsidiary
a bankrupt or insolvent, or approving as properly filed a petition seeking reorganization,
arrangement, adjustment or composition of or in respect of the Parent Guarantor, the Issuer
or any Significant Subsidiary under any applicable federal or state law, or appointing a
Custodian of the Parent Guarantor, the Issuer or any Significant Subsidiary or of any
substantial part of their property, or ordering the winding up or liquidation of its
affairs, and the continuance of any such decree or order for relief or any such other
decree or order unstayed and in effect for a period of 90 consecutive days; or

     (6) the commencement by the Parent Guarantor, the Issuer or any Significant
Subsidiary of a voluntary case or proceeding under any applicable federal or state
bankruptcy, insolvency, reorganization or other similar law or of any other case or
proceeding to be adjudicated a bankrupt or insolvent, or the consent by it to the entry of
a decree or order for relief in respect of the Parent Guarantor, the Issuer or any
Significant Subsidiary in an involuntary case or proceeding under any applicable federal or
state bankruptcy, insolvency, reorganization or other similar law or to the
commencement of any bankruptcy or insolvency case or proceeding against it, or the filing
by it of a petition or answer or consent seeking reorganization or relief under any
applicable federal or state law, or the consent by it to the filing of such petition or to
the appointment of or

29

 

taking possession by a Custodian of the Parent Guarantor, the Issuer or any Significant
Subsidiary of any substantial part of its property, or the making by it of an assignment
for the benefit of creditors, or the admission by it in writing of its inability to pay its
debts generally as they become due, or the taking of corporate action by the Parent
Guarantor, the Issuer or any Significant Subsidiary in furtherance of any such action, or
the taking of any comparable action under any foreign laws relating to insolvency; or

     (7) any Guarantee shall for any reason cease to be, or shall for any reason be
asserted in writing by any Guarantor not to be, in full force and effect and enforceable in
accordance with its terms, except to the extent contemplated by the Indenture and any such
Guarantee; or

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

SECTION 6.02 Acceleration of Maturity; Rescission and Annulment.

     If an Event of Default with respect to Securities of any series at the time Outstanding (other
than of a type specified in Section 6.01(5) or (6)) occurs and is continuing, then in every such
case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding
Securities of that series may declare the principal amount (or, if the Securities of that series
are Original Issue Discount Securities, such portion of the principal amount as may be specified in
the terms of that series) of all of the Securities of that series to be due and payable
immediately, by a notice in writing to the Issuer or a Guarantor (and to the Trustee if given by
Holders), and upon any such declaration such principal amount (or specified amount) shall become
immediately due and payable, anything in this Indenture or in any of the Securities of such series
to the contrary notwithstanding; provided, however, that payment of principal of (and premium, if
any) and interest on the Securities of such series shall remain subordinated to the extent provided
in Article Four.

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

     (1) the Issuer or any Guarantor has paid or deposited with the Trustee a sum
sufficient to pay

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

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

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

     (D) all sums paid or advanced by the Trustee hereunder and the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel and any other amounts due to the Trustee under Section 7.07 hereof;

     and

     (2) all Events of Default with respect to Securities of that series, other than the
nonpayment of the principal of Securities of that series which have become due solely by
such declaration of acceleration, have been cured or waived as provided in Section 6.13.

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

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     Notwithstanding the foregoing, in the case of an Event of Default arising under Section
6.01(5) or (6), all outstanding Securities shall IPSO FACTO become due and payable without further
action or notice.

SECTION 6.03 Collection of Indebtedness and Suits for Enforcement by Trustee.

     The Issuer covenants that if

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

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

     (3) default is made in the making or satisfaction of any sinking fund payment or
analogous obligation when the same becomes due pursuant to the terms of any Security,

the Issuer, upon demand of the Trustee, will pay to it, for the benefit of the Holders of such
Securities, the whole amount then due and payable on such Securities for principal, including any
sinking fund payment or analogous obligations (and premium, if any) and interest, if any, and, to
the extent that payment of such interest shall be legally enforceable, interest on any overdue
principal (and premium, if any) and on any overdue interest, at the rate or rates prescribed
therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient
to cover the costs and expenses of collection, including the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel and any other amounts due to the
Trustee under Section 7.07 hereof.

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

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

SECTION 6.04 Trustee May File Proofs of Claim.

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

     (i) to file and prove a claim for the whole amount of principal (and premium, if
any) and interest, if any, owing and unpaid in respect of the Securities and to file such
other papers or documents and take such other actions, including participating as a member,
voting or otherwise,
of any official committee of creditors appointed in such matter, as may be necessary or
advisable in order to have the claims of the Trustee (including any claim for the
reasonable compensation,

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expenses, disbursements and advances of the Trustee, its agents and counsel) and of the
Holders allowed in such judicial proceeding, and

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

     (iii) and any Custodian in any such judicial proceeding is hereby authorized by each
Holder to make such payments to the Trustee and, in the event that the Trustee shall
consent to the making of such payments directly to the Holders, to pay to the Trustee any
amount due it for the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07.

     Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to
or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or
composition affecting the Securities or the rights of any Holder thereof or to authorize the
Trustee to vote in respect of the claim of any Holder in any such proceeding except as aforesaid,
to vote for the election of a trustee in bankruptcy or similar person or to participate as a
member, voting or otherwise, on any committee of creditors.

SECTION 6.05 Trustee May Enforce Claims without Possession of Securities.

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

SECTION 6.06 Application of Money Collected.

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

     FIRST: To the payment of all amounts due the Trustee under Section 7.07;

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

     THIRD: To the payment of the remainder, if any, to the Issuer, its successors or assigns, or
to whomever may be so lawfully entitled to receive the same, or as a court of competent
jurisdiction may direct.

     SECTION 6.07 Limitation on Suits.

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

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

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

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

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

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

it being understood and intended that no one or more of such Holders shall have any right in any
manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb
or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or
preference over any other of such Holders or to enforce any right under this Indenture, except in
the manner herein provided and for the equal and ratable benefit of all of such Holders.

SECTION 6.08 Unconditional Right of Holders to Receive Principal, Premium and Interest.

     Notwithstanding any other provision in this Indenture, the Holder of any Security shall have
the right, which is absolute and unconditional, to receive payment (subject to the provisions of
Article Four) of the principal of (and premium, if any) and (subject to Section 3.07) interest on
such Security on the Stated Maturity or Maturities expressed in such Security (or, in the case of
redemption, on the Redemption Date) and the right to institute suit for the enforcement of any such
payment and such rights shall not be impaired without the consent of such Holder.

SECTION 6.09 Restoration of Rights and Remedies.

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

SECTION 6.10 Rights and Remedies Cumulative.

     Except as otherwise provided with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Securities in the last paragraph of Section 3.06, no right or remedy
herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of
any other right or remedy, and every right and remedy shall, to the extent permitted by law, be
cumulative and in addition to every other right and remedy given hereunder or now or hereafter
existing at law or in equity or otherwise. The assertion or employment of any right or remedy
hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other
appropriate right or remedy.

SECTION 6.11 Delay or Omission Not Waiver.

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

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SECTION 6.12 Control by Holders.

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

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

     (2) the Trustee shall not determine that the action so directed would be unjustly
prejudicial to the Holders of the Securities of such series not taking part in such
direction, or to the Holders of the Securities of any other series, and

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

SECTION 6.13 Waiver of Past Defaults.

     Subject to Section 6.02, the Holders of not less than a majority in principal amount of the
Outstanding Securities of any series may on behalf of the Holders of all the Securities of such
series waive any past default hereunder with respect to such series and its consequences, except a
default

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

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

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

SECTION 6.14 Undertaking for Costs.

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

SECTION 6.15 Waiver of Stay or Extension Laws.

     The Issuer and each Guarantors covenants (to the extent that it may lawfully do so) that it
will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit
or advantage of, any
stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the
covenants or the performance of this Indenture; and the Issuer and each Guarantor (to the extent
that they may lawfully do so) hereby expressly waives all benefit or advantage of any such law and
covenants that it will not hinder, delay or impede the execution of any power herein granted to the

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Trustee, but will suffer and permit the execution of every such power as though no such law had
been enacted.

ARTICLE SEVEN

THE TRUSTEE

SECTION 7.01 Certain Duties and Responsibilities.

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

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

     (2) in the absence of bad faith on its part, the Trustee may conclusively rely, as
to the truth of the statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the requirements of
this Indenture; but in the case of any such certificates or opinions which by any provision
hereof are specifically required to be furnished to the Trustee, the Trustee shall be under
a duty to examine the same to determine whether or not they conform to the requirements of
this Indenture but need not verify the accuracy of the contents thereof or whether
procedures specified by or pursuant to the provisions of this Indenture have been followed
in the preparation thereof.

     (b) In case an Event of Default has occurred and is continuing, the Trustee shall exercise
such of the rights and powers vested in it by this Indenture, and use the same degree of care and
skill in their exercise, as a prudent person would exercise or use under the circumstances in the
conduct of such person’s own affairs.

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

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

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

     (3) the Trustee shall not be liable with respect to any action taken or omitted to
be taken by it in good faith in accordance with the direction of the Holders of a majority
in principal amount of the Outstanding Securities of any series, determined as provided in
Section 6.12, relating to the time, method and place of conducting any proceeding for any
remedy available to the Trustee, or exercising any trust or power conferred upon the
Trustee, under this Indenture with respect to the Securities of such series;

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

     (5) whether or not therein expressly so provided, every provision of this Indenture
relating to the conduct or affecting the liability of or affording protection to the
Trustee shall be subject to the provisions of this Section.

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SECTION 7.02 Notice of Defaults.

     Within 90 days after the occurrence of any default hereunder with respect to the Securities of
any series, the Trustee shall transmit by mail to all Holders of Securities of such series, as
their names and addresses appear in the Security Register, notice of such default hereunder known
to the Trustee, unless such default shall have been cured or waived; provided, however, that,
except in the case of a default in the payment of the principal of (or premium, if any) or interest
on any Security of such series or in the payment of any sinking fund or analogous obligation
installment with respect to Securities of such series, the Trustee shall be protected in
withholding such notice if and so long as the board of directors, the executive committee or a
trust committee of directors or Responsible Officers of the Trustee in good faith determine that
the withholding of such notice is in the interest of the Holders of Securities of such series; and
provided, further, that in the case of any default of the character specified in Section 6.01(4)
with respect to Securities of such series, no such notice to Holders shall be given until at least
30 days after the occurrence thereof. For the purpose of this Section, the term “default” means any
event which is, or after notice or lapse of time or both would become, an Event of Default with
respect to Securities of such series.

SECTION 7.03 Certain Rights of Trustee.

     Subject to the provisions of Section 7.01:

     (a) the Trustee may rely and shall be protected in acting or refraining from acting upon any
resolution, certificate, statement, instrument, opinion, report, notice, request, direction,
consent, order, bond, debenture, note, other evidence of Indebtedness or other paper or document
believed by it to be genuine and to have been signed or presented by the proper party or parties;

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

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

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

     (e) the Trustee shall be under no obligation to exercise any of the rights or powers vested
in it by this Indenture at the request or direction of any of the Holders pursuant to this
Indenture, unless such Holders shall have offered to the Trustee reasonable security or indemnity
against the costs, expenses and liabilities which might be incurred by it in compliance with such
request or direction;

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

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

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     (h) the Trustee shall not be deemed to have notice or knowledge of any matter unless a
Responsible Officer assigned to and working in the Trustee’s corporate trust department has actual
knowledge thereof or unless written notice thereof is received by the Trustee at the Corporate
Trust Office and such notice references the Securities generally, the Issuer, a Guarantor or this
Indenture. Whenever reference is made in this Indenture to an Event of Default, such reference
shall, insofar as determining any liability on the part of the Trustee is concerned, be construed
to refer only to an Event of Default of which the Trustee is deemed to have actual knowledge in
accordance with this paragraph;

     (i) the permissive right of the Trustee to take or refrain from taking any actions
enumerated in this Indenture shall not be construed as a duty;

     (j) in no event shall the Trustee be liable for special, indirect or consequential loss or
damage of any kind whatsoever (including but not limited to lost profits), even if the Trustee has
been advised of the likelihood of such loss or damage and regardless of the form of action; and

     (k) in no event shall the Trustee be responsible or liable for any failure or delay in the
performance of its obligations under this Indenture arising out of or caused by, directly or
indirectly, forces beyond its reasonable control, including without limitation strikes, work
stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications
or computer (software or hardware) services.

SECTION 7.04 Not Responsible for Recitals or Issuance of Securities.

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

SECTION 7.05 May Hold Securities.

     The Trustee, any Paying Agent, any Security Registrar or any other agent of the Issuer or any
Guarantor, in its individual or any other capacity, may become the owner or pledgee of Securities
and, subject to Sections 7.08 and 7.13, may otherwise deal with the Issuer or such Guarantor with
the same rights it would have if it were not Trustee, Paying Agent, Security Registrar or such
other agent.

SECTION 7.06 Money Held in Trust.

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

SECTION 7.07 Compensation and Reimbursement.

     The Issuer and the Guarantors agree, jointly and severally,

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

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

37

 

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

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

     If the Trustee incurs expenses or renders services after the occurrence of an Event of Default
specified in clause (5) or (6) of Section 6.01, the expenses and the compensation for the services
will be intended to constitute expenses of administration under Bankruptcy Law.

     The provisions of this Section 7.07 shall survive the resignation or removal of the Trustee
and the satisfaction, discharge or termination of this Indenture.

SECTION 7.08 Disqualification; Conflicting Interests.

     The Trustee for the Securities of any series issued hereunder shall be subject to the
provisions of Section 310(b) of the Trust Indenture Act during the period of time provided for
therein. In determining whether the Trustee has a conflicting interest as defined in Section 310(b)
of the Trust Indenture Act with respect to the Securities of any series, there shall be excluded
this Indenture with respect to Securities of any particular series of Securities other than that
series. Nothing herein shall prevent the Trustee from filing with the Commission the application
referred to in the second to last paragraph of Section 310(b) of the Trust Indenture Act.

SECTION 7.09 Corporate Trustee Required; Eligibility.

     There shall at all times be a corporate Trustee hereunder which complies with the requirements
of Section 310(a) of the Trust Indenture Act, having a combined capital and surplus of at least
$50,000,000, subject to supervision or examination by federal or state authority and having its
Corporate Trust Office in the Borough of Manhattan, The City of New York. If such corporation
publishes reports of condition at least annually, pursuant to law or to the requirements of said
supervising or examining authority, then for the purposes of this Section the combined capital and
surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in
its most recent report of condition so published. If at any time the Trustee shall cease to be
eligible in accordance with the provisions of this Section, it shall resign immediately in the
manner and with the effect hereinafter specified in this Article.

SECTION 7.10 Resignation and Removal; Appointment of Successor.

     (a) No resignation or removal of the Trustee and no appointment of a successor Trustee
pursuant to this Article shall become effective until the acceptance of appointment by the
successor Trustee in accordance with the applicable requirements of Section 7.11.

     (b) The Trustee may resign at any time with respect to the Securities of one or more series
by giving written notice thereof to the Issuer. If the instrument of acceptance by a successor
Trustee required by Section 7.11 shall not have been delivered to the Trustee within 10 days after
the giving of such notice of resignation, the resigning Trustee may petition any court of competent
jurisdiction for the appointment of a successor Trustee with respect to the Securities of such
series.

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

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     (d) If at any time:

     (1) the Trustee shall fail to comply with Section 7.08(a) after written request
therefor by the Issuer or by any Holder who has been a bona fide Holder of a Security for
at least six months, or

     (2) the Trustee shall cease to be eligible under Section 7.09 and shall fail to
resign after written request therefor by the Issuer, any Guarantor or by any such Holder,
or

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

then, in any such case, (i) the Issuer or any Guarantor by a Board Resolution may remove the
Trustee with respect to all Securities, or (ii) subject to Section 6.14, any Holder who has been a
bona fide Holder of a Security for at least six months may, on behalf of himself and all others
similarly situated, petition any court of competent jurisdiction for the removal of the Trustee
with respect to all Securities and the appointment of a successor Trustee or Trustees.

     (e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy
shall occur in the office of Trustee for any cause with respect to the Securities of one or more
series, the Issuer, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees
with respect to the Securities of that or those series (it being understood that any such successor
Trustee may be appointed with respect to the Securities of one or more or all of such series and
that at any time there shall be only one Trustee with respect to the Securities of any particular
series) and shall comply with the applicable requirements of Section 7.11. If, within one year
after such resignation, removal or incapability, or the occurrence of such vacancy, a successor
Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of a
majority in principal amount of the Outstanding Securities of such series delivered to the Issuer
and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance
of such appointment in accordance with the applicable requirements of Section 7.11, become the
successor Trustee with respect to the Securities of such series and to that extent supersede the
successor Trustee appointed by the Issuer. If no successor Trustee with respect to the Securities
of any series shall have been so appointed by the Issuer or the Holders and accepted appointment in
the manner required by Section 7.11, any Holder who has been a bona fide Holder of a Security of
such series for at least six months may, on behalf of himself and all others similarly situated,
petition any court of competent jurisdiction for the appointment of a successor Trustee with
respect to the Securities of such series.

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

SECTION 7.11 Acceptance of Appointment by Successor.

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

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successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign,
transfer and deliver to such successor Trustee all property and money held by such retiring Trustee
hereunder.

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

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

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

SECTION 7.12 Merger, Conversion, Consolidation or Succession to Business.

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

SECTION 7.13 Preferential Collection of Claims Against Issuer.

     The Trustee is subject to Section 311(a) of the Trust Indenture Act, excluding any creditor
relationship listed in Section 311(b) of the Trust Indenture Act. A Trustee who has resigned or
been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent indicated
therein.

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ARTICLE EIGHT

HOLDERS’ LISTS AND REPORTS

BY TRUSTEE AND ISSUER

SECTION 8.01 Issuer to Furnish Trustee Names and Addresses of Holders.

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

     (a) semi-annually, either (i) not later than June 1 and November 1 in each year in the case
of Original Issue Discount Securities of any series which by their terms do not bear interest prior
to Maturity, or (ii) not more than 15 days after each Regular Record Date in the case of Securities
of any other series, a list, each in such form as the Trustee may reasonably require, of the names
and addresses of the Holders of Securities of such series as of the preceding June 1 or November 1
or as of such Regular Record Date, as the case may be; and

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

     provided, however, that so long as the Trustee is the Security Registrar with respect to Securities
of any series, no such lists need be furnished.

SECTION 8.02 Preservation of Information; Communications to Holders.

     (a) The Trustee shall preserve, in as current a form as is reasonably practicable, the names
and addresses of Holders contained in the most recent list furnished to the Trustee as provided in
Section 8.01 and the names and addresses of Holders received by the Trustee in its capacity as
Security Registrar. The Trustee may destroy any list furnished to it as provided in Section 8.01
upon receipt of a new list so furnished.

     (b) The rights of Holders to communicate with other Holders with respect to their rights
under this Indenture or under the Securities and the corresponding rights and duties of the Trustee
shall be provided by the Trust Indenture Act.

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

SECTION 8.03 Reports by Trustee to Holders.

     Within 60 days after each May 15 beginning with the May 15 following the date of this
Indenture, and for so long as Securities remain outstanding, the Trustee shall (at the expense of
the Issuer) mail to the Holders of the Securities a brief report dated as of such reporting date
that complies with Section 313(a) of the Trust Indenture Act (but if no event described in Section
313(a) of the Trust Indenture Act has occurred within the twelve months preceding the reporting
date, no report need be transmitted). The Trustee also shall comply with Section 313(b)(2) of the
Trust Indenture Act. The Trustee shall also transmit by mail all reports as required by Section
313(c) of the Trust Indenture Act.

     A copy of each report at the time of its mailing to the Holders of Securities shall be mailed
to the Issuer and filed with the SEC and each stock exchange on which the Securities are listed in
accordance with Section 313(d) of the Trust Indenture Act. The Issuer shall promptly notify the
Trustee when the Securities are listed on any stock exchange and thereafter shall promptly file all
reports with the SEC and such stock exchange as are required to be filed by the rules and
regulations of the SEC and of such stock exchange.

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ARTICLE NINE

CONSOLIDATION, MERGER,

CONVEYANCE, TRANSFER OR LEASE

SECTION 9.01 Merger, Consolidation, etc. Only on Certain Terms.

     Neither the Issuer nor any of the Guarantors shall consolidate with or merge into any other
Person or convey, transfer or lease its properties and assets substantially as an entirety to any
Person, unless:

     (1) the Issuer or such Guarantor, as the case may be, shall consolidate with or
merge into another Person or convey, transfer or lease its properties and assets
substantially as an entirety to any Person, the Person formed by such consolidation or into
which the Issuer or such Guarantor, as the case may be, is merged or the Person which
acquires by conveyance or transfer, or which leases, the properties and assets of the
Issuer or such Guarantor, as the case may be, substantially as an entirety shall be (A) in
the case of the Issuer, a Person organized and existing under the laws of the United States
of America, any State thereof or the District of Columbia, (B) in the case of any Guarantor
other than the Parent Guarantor, under the laws of England and Wales; or (C) in the case of
the Parent Guarantor, under the laws of any United States jurisdiction, any state thereof,
Bermuda, England and Wales or any country that is a member of the European Monetary Union
and was a member of the European Monetary Union on January 1, 2004 and shall expressly
assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form
satisfactory to the Trustee, all the obligations of the Issuer or any of the Guarantors, as
the case may be, under this Indenture and the Securities and immediately after such
transaction no Event of Default shall have happened or be continuing; and

     (2) the Issuer or such Guarantor, as the case may be, has delivered to the Trustee
an Officers’ Certificate and an Opinion of Counsel, each stating that (a) such
consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture is
required in connection with such transaction, such supplemental indenture comply with this
Article and that all conditions precedent herein provided for relating to such transaction
have been complied with and (b) in the case of a consolidation with or merger into a Person
organized other than under the laws of Ireland by the Parent Guarantor or the conveyance,
transfer or lease by the Parent Guarantor of its properties and assets substantially as an
entirety to a Person organized other than under the laws of Ireland, Holders will not
recognize income, gain or loss for U.S. Federal income tax purposes as a result of such
consolidation, merger, conveyance, transfer or lease and will be subject to U.S. Federal
income tax on the same amounts, in the same manner and at the same time as would have been
the case if such consolidation, merger, conveyance, transfer or lease had not occurred.

SECTION 9.02 Successor Corporation Substituted.

     Upon any consolidation by the Issuer or any of the Guarantors, as the case may be, with or
merger by the Issuer or such Guarantor into any other Person or any conveyance, transfer or lease
of the properties and assets of the Issuer or such Guarantor substantially as an entirety in
accordance with Section 9.01, the successor Person formed by such consolidation or into which the
Issuer or such Guarantor is merged or to which such conveyance, transfer or lease is made shall
succeed to, and be substituted for, and may exercise every right and power of, the Issuer or such
Guarantor, as the case may be, under this Indenture with the same effect as if such successor
Person had been named as the Issuer or such Guarantor herein, and thereafter, except in the case of
a lease, the predecessor corporation shall be relieved of all obligations and covenants under this
Indenture and the Securities.

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ARTICLE TEN

SUPPLEMENTAL INDENTURES

SECTION 10.01 Supplemental Indentures without Consent of Holders.

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

     (1) to evidence the succession of another Person to the Issuer or any Guarantor and
the assumption by any such successor of the covenants of the Issuer or any Guarantor herein
and in the Securities (pursuant to Article Nine, if applicable); or

     (2) to add to the covenants of the Issuer or any Guarantor for the benefit of the
Holders of all or any series of Securities (and if such covenants are to be for the benefit
of less than all series of Securities, stating that such covenants are expressly being
included solely for the benefit of such series) or to surrender any right or power herein
conferred upon the Issuer or any Guarantor; or

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

     (4) to add to or change any of the provisions of this Indenture to such extent as
shall be necessary to permit or facilitate the issuance of Securities in bearer form,
registrable or not registrable as to principal, and with or without interest coupons, or to
provide for uncertificated Securities (so long as any “registration-required obligation”
within the meaning of section 163(f)(2) of the Internal Revenue Code of 1986, as amended,
is in registered form for purposes of such section); or

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

     (6) to secure the Securities; or

     (7) to establish the form or terms of Securities of any series as permitted by
Sections 2.01 and 3.01; or

     (8) to evidence and provide for the acceptance of appointment hereunder by a
successor Trustee with respect to the Securities of one or more series and to add to or
change any of the provisions of this Indenture as shall be necessary to provide for or
facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to
the requirements of Section 7.11(b); or

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

SECTION 10.02 Supplemental Indentures with Consent of Holders.

     With the consent of the Holders of not less than a majority in principal amount of the
Outstanding Securities of each series affected by such supplemental indenture, by Act of said
Holders delivered to the Issuer and the Trustee, the Issuer and each Guarantor each when authorized
by a Board Resolution, and the Trustee may enter into an indenture or indentures supplemental
hereto for the

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purpose of adding any provision to or changing in any manner or eliminating any of the provisions
of this Indenture or of modifying in any manner the rights of the Holders of Securities of such
series under this Indenture; provided, however, that no such supplemental indenture shall, without
the consent of the Holder of each Outstanding Security affected thereby,

     (1) change the Stated Maturity of the principal of, or any installment of principal
of or interest on, any Security, or reduce the principal amount thereof or the rate of
interest thereon or any premium payable upon the redemption thereof, or reduce the amount
of the principal of an Original Issue Discount Security that would be due and payable upon
a declaration of acceleration of the Maturity thereof pursuant to Section 6.02, or
adversely affect any right of repayment at the option of the Holder of any Security, or
reduce the amount of, or postpone the date fixed for, the payment of any sinking fund or
analogous obligation, or impair the right to institute suit for the enforcement of any such
payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after
the Redemption Date), in each case other than the amendment or waiver in accordance with
the terms of this Indenture of any covenant or related definition included pursuant to
Section 3.01 that provides for an offer to repurchase any Securities of a series upon a
sale of assets or change of control transaction, or

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

     (3) modify any of the provisions of this Section, Section 6.13 or Section 11.07,
except to increase any such percentage or to provide that certain other provisions of this
Indenture cannot be modified or waived without the consent of the Holder of each
Outstanding Security affected thereby.

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

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

SECTION 10.03 Execution of Supplemental Indentures.

     In executing, or accepting the additional trusts created by, any supplemental indenture
permitted by this Article or the modifications thereby of the trusts created by this Indenture, the
Trustee shall be entitled to receive, and shall be fully protected in relying upon, in addition to
the documents required by Section 1.02 hereof, an Opinion of Counsel stating that the execution of
such supplemental indenture is authorized or permitted by this Indenture. The Trustee in its sole
discretion may, but shall not be obligated to, enter into any such supplemental indenture which
adversely affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise.

SECTION 10.04 Effect of Supplemental Indentures.

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

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SECTION 10.05 Conformity with Trust Indenture Act.

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

SECTION 10.06 Reference in Securities to Supplemental Indentures.

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

SECTION 10.07 Notice of Supplemental Indenture.

     Promptly after the execution by the Issuer, each Guarantor and the Trustee of any supplemental
indenture pursuant to Section 10.02, the Issuer shall transmit, in the manner and to the extent
provided in Section 1.05, to all Holders of any series of the Securities affected thereby, a notice
setting forth in general terms the substance of such supplemental indenture.

ARTICLE ELEVEN

COVENANTS

SECTION 11.01 Payment of Principal, Premium and Interest.

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

SECTION 11.02 Maintenance of Office or Agency.

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

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

SECTION 11.03 Money for Securities Payments to Be Held in Trust.

     If the Issuer or any Guarantor shall at any time act as Paying Agent with respect to any
series of Securities, it will, on or before each due date of the principal of (and premium, if any)
or interest, if any, on the Securities of that series, set aside, segregate and hold in trust for
the benefit of the Persons

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entitled thereto a sum sufficient to pay the principal (and premium, if any) or interest so
becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein
provided and will promptly notify the Trustee of its action or failure so to act or of any failure
by the Issuer or any Guarantor (or by any other obligor on the Securities of that series) to make
any payment of the principal of (and premium, if any) or interest, if any, on the Securities of
such series when the same shall be due and payable.

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

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

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

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

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

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

     Any money deposited with the Trustee or any Paying Agent, or then held by the Issuer or any
Guarantor in trust for the payment of the principal of (and premium, if any) or interest on any
Security of any series and remaining unclaimed for two years after such principal (and premium, if
any) or interest has become due and payable shall be paid to the Issuer or any Guarantor on Issuer
Request subject to applicable abandoned property and escheat law, or (if then held by the Issuer or
any Guarantor) shall be discharged from such trust; and the Holder of such Security shall
thereafter, as an unsecured general creditor, look only to the Issuer or any such Guarantor for
payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust
money, and all liability of the Issuer or any such Guarantor
as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying
Agent, before being required to make any such repayment, may at the expense of the Issuer cause to
be published once a week for two consecutive weeks (in each case on any day of the week) in an
Authorized Newspaper notice that such money remains unclaimed and that, after a date specified
therein, which shall not be less than 30 days from the date of such publication, any unclaimed
balance of such money then remaining will be repaid to the Issuer.

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SECTION 11.04 Corporate Existence.

     Subject to Article Nine, each of the Issuer and the Parent Guarantor will do or cause to be
done all things necessary to preserve and keep in full force and effect its corporate existence.

SECTION 11.05 Payment of Taxes and Other Claims.

     The Parent Guarantor will, and will cause each Significant Subsidiary that is a Subsidiary of
the Parent Guarantor to, pay or discharge or cause to be paid or discharged, before the same shall
become delinquent, (1) all taxes, assessments and governmental charges levied or imposed upon the
Parent Guarantor or any such Significant Subsidiary or upon the income, profits or property of the
Parent Guarantor or any such Significant Subsidiary, and (2) all lawful claims for labor, materials
and supplies which, if unpaid, might by law become a lien upon the property of the Parent Guarantor
or any such Significant Subsidiary; provided, however, that none of the Parent Guarantor nor any
Significant Subsidiary shall be required to pay or discharge or cause to be paid or discharged any
such tax, assessment, charge or claim whose amount, applicability or validity is being contested in
good faith by appropriate proceedings.

SECTION 11.06 Maintenance of Properties.

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

SECTION 11.07 Waiver of Certain Covenants.

     The Issuer may omit in any particular instance to comply with any term, provision or condition
set forth in Sections 11.04, 11.05 and 11.06 or established pursuant to Section 3.01 or 10.01, with
respect to the Securities of any series, if before the time for such compliance the Holders of at
least a majority in principal amount of the Outstanding Securities of such series shall, by Act of
such Holders, either waive such compliance in such instance or generally waive compliance with such
term, provision or condition, but no such waiver shall extend to or affect such term, provision or
condition except to the extent so expressly waived, and, until such waiver shall become effective,
the obligations of the Issuer and the duties of the Trustee in respect of any such term, provision
or condition shall remain in full force and effect.

SECTION 11.08 Statement by Officers as to Default.

     The Issuer will, within 90 days after the close of each fiscal year, commencing with the first
fiscal year following the issuance of Securities of any series under this Indenture, file with the
Trustee a certificate of the principal executive officer, the principal financial officer or the
principal accounting
officer of the Issuer, covering the period from the date of issuance of such Securities to the end
of the fiscal year in which such Securities were issued, in the case of the first such certificate,
and covering the preceding fiscal year in the case of each subsequent certificate, and stating
whether or not, to the knowledge of the signer, the Issuer has complied with all conditions and
covenants on its part contained in this Indenture, and, if the signer has obtained knowledge of any
default by the Issuer in the performance, observance or fulfillment of any such condition or
covenant, specifying each such default and the nature thereof. For the purpose of this Section
11.08, compliance shall be determined

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without regard to any grace period or requirement of notice provided pursuant to the terms of this
Indenture.

SECTION 11.09 Reports by Parent Guarantor.

The Parent Guarantor shall:

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

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

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

     Delivery of such reports, information and documents to the Trustee is for informational
purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any
information contained therein or determinable from information contained therein, including the
Issuer’s or the Parent Guarantor’s compliance with any of its covenants hereunder (as to which the
Trustee is entitled to rely exclusively on Officers’ Certificates).

SECTION 11.10 Further Assurances.

     From time to time whenever reasonably demanded by the Trustee, the Issuer and each Guarantor
will make, execute and deliver or cause to be made, executed and delivered any and all such further
and other instruments and assurances as may be reasonably necessary or proper to carry out the
intention or facilitate the performance of the terms of this Indenture.

ARTICLE TWELVE

REDEMPTION OF SECURITIES

SECTION 12.01 Applicability of Article.

     Securities of any series which are redeemable before their Stated Maturity shall be redeemable
in accordance with their terms and (except as otherwise specified as contemplated by Section 3.01
for Securities of any series) in accordance with this Article.

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SECTION 12.02 Election to Redeem; Notice to Trustee.

     The election of the Issuer to redeem any Securities shall be evidenced by a Board Resolution.
In case of any redemption at the election of the Issuer of less than all the Securities of any
series, the Issuer shall, at least 45 days prior to the Redemption Date fixed by the Issuer (unless
a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date
and of the principal amount of Securities of such series to be redeemed. In the case of any
redemption of Securities prior to the expiration of any restriction on such redemption provided in
the terms of such Securities or elsewhere in this Indenture, the Issuer shall furnish the Trustee
with an Officers’ Certificate evidencing compliance with such restriction.

SECTION 12.03 Selection by Trustee of Securities to Be Redeemed.

     If less than all the Securities of any series are to be redeemed, the particular Securities to
be redeemed shall be selected not more than 45 days prior to the Redemption Date by the Trustee,
from the Outstanding Securities of such series not previously called for redemption, by such method
as the Trustee shall deem fair and appropriate and which may provide for the selection for
redemption of portions (equal to the minimum authorized denomination for Securities of that series
or any integral multiple thereof) of the principal amount of Securities of such series of a
denomination larger than the minimum authorized denomination for Securities of that series;
provided, however, that Securities of such series registered in the name of the Issuer shall be
excluded from any such selection for redemption until all Securities of such series not so
registered shall have been previously selected for redemption.

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

     For all purposes of this Indenture, unless the context otherwise requires, all provisions
relating to the redemption of Securities shall relate, in the case of any Securities redeemed or to
be redeemed only in part, to the portion of the principal amount of such Securities which has been
or is to be redeemed.

SECTION 12.04 Notice of Redemption.

     Notice of redemption shall be given not less than 30 nor more than 60 days prior to the
Redemption Date, to each Holder of Securities to be redeemed.

     All notices of redemption shall identify the Securities to be redeemed (including CUSIP
numbers) and shall state:

     (1) the Redemption Date,

     (2) the Redemption Price,

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

     (4) that on the Redemption Date the Redemption Price will become due and payable
upon each such Security to be redeemed and, if applicable, that interest thereon will cease
to accrue on and after said date,

     (5) that interest, if any, accrued to the date fixed for redemption will be paid as
specified in said notice,

     (6) the place or places where such Securities are to be surrendered for payment of
the Redemption Price, and

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     (7) that the redemption is for a sinking fund, if such is the case.

     Notice of redemption of Securities to be redeemed at the election of the Issuer shall be given
by the Issuer or, at the Issuer’s request, by the Trustee in the name and at the expense of the
Issuer. No such notice shall be given at any time when the Issuer or the Trustee shall have
received notice that there exists a default specified in the first paragraph of Section 4.03 or
that such a default will exist at the date fixed for such redemption or as a result of such
redemption.

SECTION 12.05 Deposit of Redemption Price.

     On or prior to 10:00 a.m. New York City time on any Redemption Date, the Issuer shall deposit
with the Trustee or with a Paying Agent (or, if the Issuer or any Guarantor is acting as Paying
Agent, segregate and hold in trust as provided in Section 11.03) an amount of money sufficient to
pay the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date)
accrued interest on, all the Securities which are to be redeemed on that date.

SECTION 12.06 Securities Payable on Redemption Date.

     Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall,
on the Redemption Date, become due and payable at the Redemption Price therein specified, and from
and after such date (unless the Issuer shall default in the payment of the Redemption Price and
accrued interest) such Securities shall cease to bear interest. Upon surrender of any such Security
for redemption in accordance with said notice, such Security shall be paid by the Issuer at the
Redemption Price, together with accrued interest to the Redemption Date; provided, however, that
installments of interest whose Stated Maturity is on or prior to the Redemption Date shall be
payable to the Holders of such Securities, or one or more Predecessor Securities, registered as
such at the close of business on the relevant Record Dates according to their terms and the
provisions of Section 3.07.

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

SECTION 12.07 Securities Redeemed in Part.

     Any Security which is to be redeemed only in part shall be surrendered at a Place of Payment
therefor (with, if the Issuer or the Trustee so requires, due endorsement by, or a written
instrument of transfer in form satisfactory to the Issuer and the Trustee duly executed by, the
Holder thereof or his attorney duly
authorized in writing), and the Issuer shall execute, and the Trustee shall authenticate and
deliver to the Holder of such Security without service charge, a new Security or Securities of the
same series, of any authorized denomination as requested by such Holder, in aggregate principal
amount equal to and in exchange for the unredeemed portion of the principal of the security so
surrendered. Securities in denominations larger than $1,000 may be redeemed in part, but only in
whole multiples of $1,000.

SECTION 12.08 Securities No Longer Outstanding After Notice to Trustee and Deposit of Cash.

     If the Issuer, having given notice to the Trustee as provided in Section 12.02, shall have
deposited with the Trustee or a Paying Agent, for the benefit of the Holders of any Securities of
any series or portions thereof called for redemption in whole or in part cash or other form of
payment if permitted by the terms of such Securities (which amount shall be immediately due and
payable to the Holders of such Securities or portions thereof), in the amount necessary so to
redeem all such Securities or portions thereof on the Redemption Date and provision satisfactory to
the Trustee shall have been made for the giving of notice of such redemption, such Securities or
portions thereof, shall thereupon, for all purposes of this Indenture, be deemed to be no longer
Outstanding, and the Holders thereof shall be entitled to no rights thereunder or hereunder, except
the right to receive payment of the

50

 

Redemption Price, together with interest accrued to the Redemption Date, on or after the Redemption
Date of such Securities or portions thereof.

ARTICLE THIRTEEN

SINKING FUNDS

SECTION 13.01 Applicability of Article.

     The provisions of this Article shall be applicable to any sinking fund for the retirement of
Securities of a series except as otherwise specified as contemplated by Section 3.01 for Securities
of such series.

     The minimum amount of any sinking fund payment provided for by the terms of Securities of any
series is herein referred to as a “mandatory sinking fund payment,” and any payment in excess of
such minimum amount provided for by the terms of Securities of any series is herein referred to as
an “optional sinking fund payment.” If provided for by the terms of Securities of any series, the
cash amount of any sinking fund payment may be subject to reduction as provided in Section 13.02.
Each sinking fund payment shall be applied to the redemption of Securities of any series as
provided for by the terms of Securities of such series.

SECTION 13.02 Satisfaction of Sinking Fund Payments with Securities.

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

SECTION 13.03 Redemption of Securities for Sinking Fund.

     Not less than 45 days prior to each sinking fund payment date for any series of Securities,
the Issuer will deliver to the Trustee an Officers’ Certificate specifying the amount of the next
ensuing sinking fund payment for that series pursuant to the terms of that series, the portion
thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which
is to be satisfied by delivering and crediting Securities of that series pursuant to Section 13.02
and will also deliver to the Trustee any Securities to be so delivered. Not less than 30 days
before each such sinking fund payment date the Trustee shall select the Securities to be redeemed
upon such sinking fund payment date in the manner specified in Section 12.03 and cause notice of
the redemption thereof to be given in the name of and at the expense of the Issuer in the manner
provided in Section 12.04. Such notice having been duly given, the redemption of such Securities
shall be made upon the terms and in the manner stated in Sections 12.06 and 12.07.

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ARTICLE FOURTEEN

IMMUNITY OF INCORPORATORS, STOCKHOLDERS,

OFFICERS AND DIRECTORS

SECTION 14.01 Exemption from Individual Liability.

     No recourse under or upon any obligation, covenant or agreement of this Indenture, or of any
Security, or for any claim based thereon or otherwise in respect thereof, shall be had against any
incorporator, stockholder, officer or director, as such, past, present or future, of the Issuer,
any Guarantor or of any successor Person, either directly or through the Issuer or any Guarantor,
whether by virtue of any constitution, statute or rule of law, or by the enforcement of any
assessment or penalty or otherwise; it being expressly understood that this Indenture and the
obligations issued hereunder are solely corporate obligations of the Issuer or any Guarantor, and
that no such personal liability whatever shall attach to, or is or shall be incurred by, the
incorporators, stockholders, officers or directors, as such, of the Issuer, any Guarantor or of any
successor Person, or any of them, because of the creation of the Indebtedness hereby authorized, or
under or by reason of the obligations, covenants or agreements contained in this Indenture or in
any of the Securities or implied therefrom; and that any and all such personal liability, either at
common law or in equity or by constitution or statute, of, and any and all such rights and claims
against, every such incorporator, stockholder, officer or director, as such, because of the
creation of the Indebtedness hereby authorized, or under or by reason of the obligations, covenants
or agreements contained in this Indenture or in any of the Securities or implied therefrom, are
hereby expressly waived and released as a condition of, and as a consideration for, the execution
of this Indenture and the issuance of the Securities.

ARTICLE FIFTEEN

MEETINGS OF HOLDERS OF SECURITIES

SECTION 15.01 Purposes of Meetings.

     A meeting of Holders of Securities of all or any series may be called at any time and from
time to time pursuant to the provisions of this Article for any of the following purposes:

     (1) to give any notice to the Issuer, any Guarantor or to the Trustee, or to give
any directions to the Trustee, or to waive any default hereunder and its consequences, or
to take any other action authorized to be taken by the Holders of Securities pursuant to
any of the provisions of Article Six;

     (2) to remove the Trustee and appoint a successor Trustee pursuant to the provisions
of Article Seven;

     (3) to consent to the execution of an indenture or indentures supplemental hereto
pursuant to the provisions of Section 10.02; or

     (4) to take any other action authorized to be taken by or on behalf of the Holders
of any specified percentage in aggregate principal amount of the Securities of all or any
series, as the case may be, under any other provision of this Indenture or under applicable
law.

SECTION 15.02 Call of Meetings by Trustee.

     The Trustee may at any time call a meeting of Holders of Securities of all or any series to
take any action specified in Section 15.01, to be held at such time and at such place in the
Borough of Manhattan, The City of New York, as the Trustee shall determine. Notice of every meeting
of the Holders of Securities of all or any series, setting forth the time and place of such meeting
and in general terms the action proposed to be taken at such meeting, shall be given to all Holders
of

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Securities of each series that may be affected by the action proposed to be taken at such meeting
by publication at least twice in an Authorized Newspaper prior to the date fixed for the meeting,
the first publication to be not less than 20 nor more than 180 days prior to the date fixed for the
meeting, and the last publication to be not more than five days prior to the date fixed for the
meeting, or such notice may be given to Holders by mailing the same by first class mail, postage
prepaid, to the Holders of Securities at the time Outstanding, at their addresses as they shall
appear in the Security Register, not less than 20 nor more than 60 days prior to the date fixed for
the meeting. Failure to receive such notice or any defect therein shall in no case affect the
validity of any action taken at such meeting. Any meeting of Holders of Securities of all or any
series shall be valid without notice if the Holders of all such Securities Outstanding, the Issuer
and the Trustee are present in person or by proxy or shall have waived notice thereof before or
after the meeting.

SECTION 15.03 Call of Meetings by Issuer or Holders.

     In case at any time the Issuer or the Parent Guarantor, in each case by Board Resolution, or
the Holders of at least 10% in aggregate principal amount of the Securities then Outstanding of
each series that may be affected by the action proposed to be taken at the meeting shall have
requested the Trustee to call a meeting of Holders of Securities of all series that may be so
affected to take any action authorized in Section 15.01 by written request setting forth in
reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not have
mailed or made the first publication of the notice of such meeting within 30 days after receipt of
such request, then the Issuer or the Holders in the amount above specified may determine the time
and the place in the Borough of Manhattan, The City of New York for such meeting and may call such
meeting by mailing or publishing notice thereof as provided in Section 15.02.

     SECTION 15.04 Qualification for Voting.

     To be entitled to vote at any meeting of Holders a Person shall (a) be a Holder of one or more
Securities of a series affected by the action proposed to be taken, or (b) be a Person appointed by
an instrument in writing as proxy by the Holder of one or more such Securities. The right of
Holders to have their votes counted shall be subject to the proviso in the definition of
“Outstanding” in Section 1.01. The only Persons who shall be entitled to be present or to speak at
any meeting of Holders shall be the Persons entitled to vote at such meeting and their counsel, any
representatives of the Trustee and its counsel and any representatives of the Issuer and its
counsel.

SECTION 15.05 Quorum; Adjourned Meetings.

     At any meeting of Holders, the presence of Persons holding or representing Securities in an
aggregate principal amount sufficient to take action on the business for the transaction of which
such meeting was called shall be necessary to constitute a quorum. No business shall be transacted
in the absence of a quorum unless a quorum is represented when the meeting is called to order. In
the absence of a quorum within 30 minutes of the time appointed for any such meeting, the meeting
shall, if convened at the request of the Holders of Securities (as provided in Section 15.03), be
dissolved. In any other case the Persons holding or representing a majority in aggregate principal
amount of the Securities represented at the meeting may adjourn such a meeting for a period of not
less than 10 days with the same effect, for all intents and purposes, as though a quorum had been
present. In the absence of a quorum at any such adjourned meeting, such adjourned meeting may be
similarly further adjourned for a period of not less than 10 days. Notice of the reconvening of any
adjourned meeting shall be given as provided in Section 15.02 except that, in the case of
publication, such notice need be published only once but must be given not less than five days
prior to the date on which the meeting is scheduled to be reconvened, and in the case of mailing,
such notice may be mailed not less than five days prior to such date.

53

 

     Any Holder of a Security who has executed an instrument in writing complying with the
provisions of Section 1.04 shall be deemed to be present for the purposes of determining a quorum
and be deemed to have voted; provided, however, that such Holder shall be considered as present or
voting only with respect to the matters covered by such instrument in writing.

     Any resolution passed or decision taken at any meeting of the Holders of Securities of any
series duly held in accordance with this Section shall be binding on all Holders of such series of
Securities whether or not present or represented at the meeting.

SECTION 15.06 Regulations.

     Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable
regulations as it may deem advisable for any meeting of Holders of Securities, in regard to proof
of the holding of Securities and of the appointment of proxies, and in regard to the appointment
and duties of inspectors of votes, the submission and examination of proxies, certificates and
other evidence of the right to vote, and such other matters concerning the conduct of the meeting
as it shall think fit.

     The Trustee shall, by an instrument in writing, appoint a temporary chairman of the meeting,
unless the meeting shall have been called by the Issuer or by Holders of Securities as provided in
Section 15.03, in which case the Issuer or the Holders of Securities calling the meeting, as the
case may be, shall in like manner appoint a temporary chairman. A permanent chairman and a
permanent secretary of the meeting shall be elected by vote of the Holders of a majority in
principal amount of the Securities represented at the meeting.

     At any meeting each Holder of a Security of a series entitled to vote at such meeting, or
proxy therefor, shall be entitled to one vote for each $1,000 principal amount (in the case of
Original Issue Discount Securities, such principal amount to be determined as provided in the
definition of “Outstanding”)
of Securities of such series held or represented by him; provided, however, that no vote shall be
cast or counted at any meeting in respect of any Security challenged as not Outstanding and ruled
by the chairman of the meeting to be not Outstanding. The chairman of the meeting shall have no
right to vote except as a Holder of Securities of such series or proxy therefor. Any meeting of
Holders of Securities duly called pursuant to the provisions of Section 15.02 or 15.03 at which a
quorum is present may be adjourned from time to time, and the meeting may be held as so adjourned
without further notice.

SECTION 15.07 Voting Procedure.

     The vote upon any resolution submitted to any meeting of Holders shall be by written ballot on
which shall be subscribed the signatures of the Holders of Securities entitled to vote at such
meeting, or proxies therefor, and on which shall be inscribed an identifying number or numbers or
to which shall be attached a list of identifying numbers of the Securities so held or represented
by them. The permanent chairman of the meeting shall appoint two inspectors of votes who shall
count all votes cast at the meeting for or against any resolution and who shall make and file with
the secretary of the meeting their verified written reports in duplicate of all votes cast at the
meeting. A record in duplicate of the proceedings of each meeting of Holders of Securities shall be
prepared by the secretary of the meeting and there shall be attached to said record the original
reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or
more Persons having knowledge of the facts setting forth a copy of the notice of the meeting and
showing that said notice was mailed or published as provided in Section 15.02 and, if applicable,
Section 15.05. The record shall be signed and verified by the permanent chairman and secretary of
the meeting and one of the duplicates shall be delivered to the Issuer and the other to the Trustee
to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the
meeting.

     Any record so signed and verified shall be conclusive evidence of the matters therein stated.

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SECTION 15.08 Written Consent in Lieu of Meetings.

     The written authorization or consent by the Holders of the requisite percentage in aggregate
principal amount of Securities of any series herein provided, entitled to vote at any such meeting,
evidenced as provided in Section 1.04 and filed with the Trustee, shall be effective in lieu of a
meeting of the Holders of Securities of such series, with respect to any matter provided for in
this Article Fifteen.

SECTION 15.09 No Delay of Rights by Meeting.

     Nothing contained in this Article shall be deemed or construed to authorize or permit, by
reason of any call of a meeting of Holders of Securities of any or all series or any rights
expressly or impliedly conferred hereunder to make such call, any hindrance or delay in the
exercise of any right or rights conferred upon or reserved to the Trustee or the Holders of
Securities of any or all such series under any provisions of this Indenture or the Securities.

ARTICLE SIXTEEN

GUARANTEE OF SECURITIES

SECTION 16.01 Guarantee.

     Except as otherwise set forth in a Board Resolution, Officers’ Certificate or supplemental
indenture establishing a series of Securities and subject to the provisions of this Article
Sixteen, each Guarantor hereby jointly and severally unconditionally and irrevocably guarantees, as
a primary obligor and not
merely as a surety, to each Holder and to the Trustee and its successors and assigns (a) the full
and punctual payment of principal of and interest on and liquidated damages in respect of the
Securities when due, whether on the Stated Maturity, by acceleration, by redemption or otherwise,
and all other monetary obligations of the Issuer under this Indenture (including all obligations of
the Issuer to the Trustee under this Indenture) and the Securities and (b) the full and punctual
performance within applicable grace periods of all other obligations of the Issuer whether for
expenses, indemnification or otherwise under this Indenture and the Securities (all the foregoing
being hereinafter collectively called the “Guaranteed Obligations”). Each Guarantor further agrees
that the Guaranteed Obligations may be extended or renewed, in whole or in part, without notice or
further assent from each such Guarantor, and that each such Guarantor shall remain bound under this
Article Sixteen notwithstanding any extension or renewal of any Guaranteed Obligation.

     Each Guarantor waives (to the extent that it may lawfully do so) (a) presentation to, demand
of, payment from and protest to the Issuer of any of the Guaranteed Obligations, (b) notice of
protest for nonpayment and (c) notice of any default under Securities of any series or the
Guaranteed Obligations. The obligations of each Guarantor hereunder shall not be affected by (i)
the failure of any Holder or the Trustee to assert any claim or demand or to enforce any right or
remedy against the Issuer or any other Person under this Indenture, the Securities of any series or
any other agreement or otherwise; (ii) any extension or renewal of any thereof; (iii) any
rescission, waiver, amendment or modification of any of the terms or provisions of this Indenture,
the Securities of any series or any other agreement relating to this Indenture or the Securities;
(iv) the release of any security held by any Holder or the Trustee for the Guaranteed Obligations
or any of them; (v) the failure of any Holder or the Trustee to exercise any right or remedy
against any other guarantor of the Guaranteed Obligations; or (vi) any change in the ownership of
such Guarantor, except as provided in Section 16.02(b).

     Each Guarantor hereby waives (to the extent that it may lawfully do so) (x) any right to which
it may be entitled to have its obligations hereunder divided among the Guarantors, such that such
Guarantor’s obligations would be less than the full amount claimed, (y) any right to which it may
be entitled to have the assets of the Issuer first be used and depleted as payment of the Issuer’s
or such

55

 

Guarantor’s obligations hereunder prior to any amounts being claimed from or paid by such Guarantor
hereunder and (z) any right to which it may be entitled to require that the Issuer be sued prior to
an action being initiated against such Guarantor.

     Each Guarantor further agrees that its Guarantee herein constitutes a guarantee of payment,
performance and compliance when due (and not a guarantee of collection) and waives (to the extent
that it may lawfully do so) any right to require that any resort be had by any Holder or the
Trustee to any security held for payment of the Guaranteed Obligations.

     The Guarantee of each Guarantor is, to the extent and in the manner set forth in Section
4.01(b), subordinated and subject in right of payment to the prior payment in full of the principal
of and premium, if any, and interest on all Senior Indebtedness of the relevant Guarantor and is
made subject to such provisions of this Indenture.

     Except as expressly set forth in Sections 5.02 and 16.02, the obligations of each Guarantor
hereunder shall not be subject to any reduction, limitation, impairment or termination for any
reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not
be subject to any defense of setoff, counterclaim, recoupment or termination whatsoever or by
reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or
otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor
herein shall not be discharged or impaired or otherwise affected by the failure of any Holder or
the Trustee to assert any claim or demand or to enforce any remedy
under this Indenture, the Securities of any series or any other agreement relating to this
Indenture or the Securities, by any waiver or modification of any thereof, by any default, failure
or delay, willful or otherwise, in the performance of the obligations, or by any other act or thing
or omission or delay to do any other act or thing which may or might in any manner or to any extent
vary the risk of any Guarantor or would otherwise operate as a discharge of any Guarantor as a
matter of law or equity.

     Each Guarantor agrees that its Guarantee shall remain in full force and effect until payment
in full of all the Guaranteed Obligations. Each Guarantor further agrees that its Guarantee herein
shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any
part thereof, of principal of or interest on any Guaranteed Obligation is rescinded or must
otherwise be restored by any Holder or the Trustee upon the bankruptcy or reorganization of the
Issuer or otherwise.

     In furtherance of the foregoing and not in limitation of any other right which any Holder or
the Trustee has at law or in equity against any Guarantor by virtue hereof, upon the failure of the
Issuer to pay the principal of or interest on any Guaranteed Obligation when and as the same shall
become due, whether at maturity, by acceleration, by redemption or otherwise, or to perform or
comply with any other Guaranteed Obligation, each Guarantor hereby promises to and shall, upon
receipt of written demand by the Trustee, forthwith pay, or cause to be paid, in cash, to the
Holders or the Trustee an amount equal to the sum of (i) the unpaid principal amount of such
Guaranteed Obligations, (ii) accrued and unpaid interest on such Guaranteed Obligations (but only
to the extent not prohibited by law) and (iii) all other monetary obligations of the Issuer to the
Holders and the Trustee.

     Each Guarantor agrees that it shall not be entitled to any right of subrogation in relation to
the Holders in respect of any Guaranteed Obligations guaranteed hereby until payment in full of all
Guaranteed Obligations and all obligations to which the Guaranteed Obligations are subordinated
pursuant to Section 4.01(b). Each Guarantor further agrees that, as between it, on the one hand,
and the Holders and the Trustee, on the other hand, (x) the maturity of the Guaranteed Obligations
guaranteed hereby may be accelerated as provided in Article Six for the purposes of any Guarantee
herein, notwithstanding any stay, injunction or other prohibition preventing such acceleration in
respect of the Guaranteed Obligations guaranteed hereby, and (y) in the event of any declaration of
acceleration of such Guaranteed Obligations as provided in Article Six, such Guaranteed Obligations

56

 

     (whether or not due and payable) shall forthwith become due and payable by such Guarantor for the
purposes of this Section 16.01.

     Each Guarantor also agrees to pay any and all costs and expenses (including reasonable
attorneys’ fees and expenses) incurred by the Trustee or any Holder in enforcing any rights under
this Section 16.01.

SECTION 16.02 Limitation on Liability.

     (a) Any term or provision of this Indenture to the contrary notwithstanding, the maximum,
aggregate amount of the Guaranteed Obligations guaranteed hereunder by any Guarantor shall not
exceed the maximum amount that can be hereby guaranteed without rendering this Indenture, as it
relates to such Guarantor, voidable under applicable law relating to fraudulent conveyance or
fraudulent transfer or similar laws affecting the rights of creditors generally.

     (b) This Guarantee as to any Guarantor (other than the Parent Guarantor) shall terminate and
be of no further force or effect and such Guarantor shall be deemed to be released from all
obligations under this Article Sixteen and Section 9.02 upon (i) the merger or consolidation of
such Guarantor with or into any Person other than the Issuer or a Subsidiary or Affiliate of the
Issuer where such Guarantor is not the surviving entity of such consolidation or merger or (ii) the
sale, exchange or transfer to any Person not an
Affiliate of the Issuer of all the Capital Stock in, or all or substantially all the assets of,
such Guarantor, provided however, that in the case of (i) and (ii) above, such merger,
consolidation, sale, exchange or transfer is made in accordance with Section 9.01 and the successor
Person or transferee has assumed all of the obligations of such Guarantor under this Indenture and
the Securities. This Guarantee also shall be automatically released upon the release or discharge
of the Indebtedness that results in the creation of such Guarantee, as the case may be. At the
request of the Issuer, the Trustee shall execute and deliver an appropriate instrument evidencing
such release.

SECTION 16.03 Successors and Assigns.

     This Article Sixteen shall be binding upon each Guarantor and its successors and assigns and
shall inure to the benefit of the successors and assigns of the Trustee and the Holders and, in the
event of any transfer or assignment of rights by any Holder or the Trustee, the rights and
privileges conferred upon that party in this Indenture and in the Securities of any series shall
automatically extend to and be vested in such transferee or assignee, all subject to the terms and
conditions of this Indenture.

SECTION 16.04 No Waiver.

     Neither a failure nor a delay on the part of either the Trustee or the Holders in exercising
any right, power or privilege under this Article Sixteen shall operate as a waiver thereof, nor
shall a single or partial exercise thereof preclude any other or further exercise of any right,
power or privilege. The rights, remedies and benefits of the Trustee and the Holders herein
expressly specified are cumulative and not exclusive of any other rights, remedies or benefits
which either may have under this Article Sixteen at law, in equity, by statute or otherwise.

SECTION 16.05 Modification.

     No modification, amendment or waiver of any provision of this Article Sixteen, nor the consent
to any departure by any Guarantor therefrom, shall in any event be effective unless the same shall
be in writing and signed by the Trustee, and then such waiver or consent shall be effective only in
the specific instance and for the purpose for which given. No notice to or demand on any Guarantor
in any case shall entitle such Guarantor to any other or further notice or demand in the same,
similar or other circumstances.

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ARTICLE SEVENTEEN

MISCELLANEOUS

SECTION 17.01 Counterparts.

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

     The Bank of New York Mellon hereby accepts the trusts in this Indenture declared and provided,
upon the terms and conditions hereinabove set forth.

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SIGNATURES

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

	 	 	 	 	 
	 	WILLIS NORTH AMERICA INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WILLIS GROUP HOLDINGS PUBLIC
LIMITED COMPANY

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WILLIS
NETHERLANDS HOLDINGS, B.V.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WILLIS INVESTMENT UK HOLDINGS LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TA I LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TA II LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TA III LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	TRINITY ACQUISITION PLC

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

59

 

	 	 	 	 	 
	 	TA IV LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WILLIS GROUP LIMITED

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	THE BANK OF NEW YORK MELLON, AS TRUSTEE

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

60

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