Document:

Form of Senior Indenture

 Exhibit 4.5 
  

HUGHES SUPPLY, INC., AS ISSUER 
  
 TO 
  
                                       
                          , AS TRUSTEE 
  
 Senior Debt Indenture 
  
 DATED AS OF                     ,
200     

 HUGHES SUPPLY, INC. 
 Cross-Reference Sheet Between Trust Indenture Act of 1939 and Indenture: 
  

			
	     Section of
 Trust
Indenture Act
     of 1939

	  	 Indenture Section

	 310(a)(1)
	  	6.9
	 310(a)(2)
	  	6.9
	 310(a)(3)
	  	Not applicable
	 310(a)(4)
	  	Not applicable
	 310(a)(5)
	  	6.9
	 310(b)
	  	6.8, 6.9 and 6.10
	 310(c)
	  	Not applicable
	 311(a)
	  	6.13
	 311(b)
	  	6.13
	 311(c)
	  	Not applicable
	 312(a)
	  	7.1 and 7.2(a)
	 312(b)
	  	7.2(b)
	 312(c)
	  	7.2(c)
	 313(a)
	  	7.3(a)
	 313(b)
	  	Not applicable
	 313(c)
	  	7.3(a)
	 313(d)
	  	7.3(b)
	 314(a)
	  	7.4
	 314(b)
	  	Not applicable
	 314(c)
	  	1.2
	 314(d)
	  	Not applicable
	 314(e)
	  	1.2
	 314(f)
	  	Not applicable
	 315(a)
	  	6.1(a)
	 315(b)
	  	6.2
	 315(c)
	  	6.1(b)
	 315(d)
	  	6.1(c)
	 315(e)
	  	5.14
	 316(a)
	  	1.1, 1.4, 5.2, 5.12 and 5.13
	 316(b)
	  	5.7, 5.8 and 5.13(a)
	 316(c)
	  	1.4(e)
	 317(a)
	  	5.3 and 5.4
	 317(b)
	  	10.8
	 318(a)
	  	1.7

  
 Note: The above
cross-reference table shall not, for any purpose, be deemed to be a part of the Indenture. 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page

		
	ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	  	1
			
	 Section 1.1
	  	Definitions	  	1
			
	 Section 1.2
	  	Compliance Certificates and Opinions	  	8
			
	 Section 1.3
	  	Form of Documents Delivered to Trustee	  	8
			
	 Section 1.4
	  	Acts of Holders	  	9
			
	 Section 1.5
	  	Notices, Etc., to Trustee and Company	  	10
			
	 Section 1.6
	  	Notice to Holders; Waiver	  	10
			
	 Section 1.7
	  	Conflict with Trust Indenture Act	  	11
			
	 Section 1.8
	  	Effect of Headings and Table of Contents	  	11
			
	 Section 1.9
	  	Successors and Assigns	  	11
			
	 Section 1.10
	  	Separability Clause	  	11
			
	 Section 1.11
	  	Benefits of Indenture	  	11
			
	 Section 1.12
	  	Governing Law	  	11
			
	 Section 1.13
	  	Legal Holidays	  	12
			
	 Section 1.14
	  	No Recourse Against Others	  	12
		
	ARTICLE II SECURITY FORMS	  	12
			
	 Section 2.1
	  	Forms Generally	  	12
			
	 Section 2.2
	  	Form of Face of Security	  	13
			
	 Section 2.3
	  	Form of Reverse of Security	  	14
			
	 Section 2.4
	  	Form of Trustee’s Certificate of Authentication	  	18
			
	 Section 2.5
	  	Securities in Global Form	  	19
			
	 Section 2.6
	  	CUSIP Number	  	19
			
	 Section 2.7
	  	Form of Legend for the Securities in Global Form	  	20
		
	ARTICLE III THE SECURITIES	  	20
			
	 Section 3.1
	  	Amount Unlimited; Issuable in Series	  	20
			
	 Section 3.2
	  	Denominations	  	22
			
	 Section 3.3
	  	Execution, Authentication, Delivery and Dating	  	23
			
	 Section 3.4
	  	Temporary Securities	  	24

  

 i 

					
			
	 Section 3.5
	  	Registration, Registration of Transfer and Exchange	  	25
			
	 Section 3.6
	  	Mutilated, Destroyed, Lost and Stolen Securities	  	28
			
	 Section 3.7
	  	Payment of Interest; Interest Rights Preserved	  	28
			
	 Section 3.8
	  	Persons Deemed Owners	  	30
			
	 Section 3.9
	  	Cancellation	  	30
			
	 Section 3.10
	  	Computation of Interest	  	30
		
	ARTICLE IV SATISFACTION AND DISCHARGE	  	31
			
	 Section 4.1
	  	Satisfaction and Discharge of Indenture	  	31
			
	 Section 4.2
	  	Application of Trust Money	  	32
		
	ARTICLE V REMEDIES	  	32
			
	 Section 5.1
	  	Events of Default	  	32
			
	 Section 5.2
	  	Acceleration of Maturity; Rescission and Annulment	  	34
			
	 Section 5.3
	  	Collection of Indebtedness and Suits for Enforcement by Trustee	  	34
			
	 Section 5.4
	  	Trustee May File Proofs of Claim	  	35
			
	 Section 5.5
	  	Trustee May Enforce Claims Without Possession of Securities	  	36
			
	 Section 5.6
	  	Application of Money Collected	  	36
			
	 Section 5.7
	  	Limitation on Suits	  	37
			
	 Section 5.8
	  	Unconditional Right of Holders to Receive Principal, Premium and Interest	  	37
			
	 Section 5.9
	  	Restoration of Rights and Remedies	  	37
			
	 Section 5.10
	  	Rights and Remedies Cumulative	  	38
			
	 Section 5.11
	  	Delay or Omission Not Waiver	  	38
			
	 Section 5.12
	  	Control by Holders	  	38
			
	 Section 5.13
	  	Waiver of Past Defaults	  	38
			
	 Section 5.14
	  	Undertaking for Costs	  	39
		
	 ARTICLE VI THE TRUSTEE
	  	39
			
	 Section 6.1
	  	Certain Duties and Responsibilities of the Trustee	  	39
			
	 Section 6.2
	  	Notice of Defaults	  	39
			
	 Section 6.3
	  	Certain Rights of Trustee	  	40
			
	 Section 6.4
	  	Not Responsible for Recitals or Issuance of Securities	  	41
			
	 Section 6.5
	  	May Hold Securities	  	41
			
	 Section 6.6
	  	Money Held in Trust	  	41

  

 ii 

					
			
	 Section 6.7
	  	Compensation and Reimbursement	  	41
			
	 Section 6.8
	  	Disqualification; Conflicting Interests	  	42
			
	 Section 6.9
	  	Corporate Trustee Required; Eligibility	  	42
			
	 Section 6.10
	  	Resignation and Removal; Appointment of Successor	  	43
			
	 Section 6.11
	  	Acceptance of Appointment by Successor or Additional Trustees	  	44
			
	 Section 6.12
	  	Merger, Conversion, Consolidation or Succession to Business	  	45
			
	 Section 6.13
	  	Preferential Collection of Claims Against Company	  	45
			
	 Section 6.14
	  	Appointment of Authenticating Agent	  	46
		
	ARTICLE VII HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY	  	47
			
	 Section 7.1
	  	Company to Furnish Trustee Names and Addresses of Holders	  	47
			
	 Section 7.2
	  	Preservation of Information; Communications to Holders	  	48
			
	 Section 7.3
	  	Reports by Trustee	  	49
			
	 Section 7.4
	  	Reports by Company	  	49
		
	ARTICLE VIII CONSOLIDATION, MERGER, LEASE, SALE OR TRANSFER	  	50
			
	 Section 8.1
	  	When Company May Merge, Etc.	  	50
			
	 Section 8.2
	  	Opinion of Counsel	  	50
			
	 Section 8.3
	  	Successor Corporation Substituted	  	50
		
	ARTICLE IX SUPPLEMENTAL INDENTURES	  	51
			
	 Section 9.1
	  	Supplemental Indentures Without Consent of Holders	  	51
			
	 Section 9.2
	  	Supplemental Indentures with Consent of Holders	  	52
			
	 Section 9.3
	  	Execution of Supplemental Indentures	  	53
			
	 Section 9.4
	  	Effect of Supplemental Indentures	  	53
			
	 Section 9.5
	  	Conformity with Trust Indenture Act	  	53
			
	 Section 9.6
	  	Reference in Securities to Supplemental Indentures	  	53
		
	ARTICLE X COVENANTS	  	54
			
	 Section 10.1
	  	Payments of Securities	  	54
			
	 Section 10.2
	  	Maintenance of Office or Agency	  	54
			
	 Section 10.3
	  	Corporate Existence	  	54
			
	 Section 10.4
	  	Payment of Taxes and Other Claims	  	55
			
	 Section 10.5
	  	Compliance Certificates	  	55
			
	 Section 10.6
	  	Commission Reports	  	55
			
	 Section 10.7
	  	Waiver of Stay, Extension or Usury Laws	  	56

  

 iii 

					
			
	 Section 10.8
	  	Money for Securities Payments to Be Held in Trust	  	56
			
	 Section 10.9
	  	Limitation on Liens	  	57
			
	 Section 10.10
	  	Limitation on Sales and Leasebacks	  	59
		
	ARTICLE XI REDEMPTION OF SECURITIES	  	60
			
	 Section 11.1
	  	Applicability of Article	  	60
			
	 Section 11.2
	  	Election to Redeem; Notice to Trustee	  	60
			
	 Section 11.3
	  	Selection by Trustee of Securities to Be Redeemed	  	60
			
	 Section 11.4
	  	Notice of Redemption	  	61
			
	 Section 11.5
	  	Deposit of Redemption Price	  	61
			
	 Section 11.6
	  	Securities Payable on Redemption Date	  	62
			
	 Section 11.7
	  	Securities Redeemed in Part	  	62
		
	ARTICLE XII SINKING FUNDS	  	62
			
	 Section 12.1
	  	Applicability of Article	  	62
			
	 Section 12.2
	  	Satisfaction of Sinking Fund Payments with Securities	  	63
			
	 Section 12.3
	  	Redemption of Securities for Sinking Fund	  	63
		
	ARTICLE XIII DEFEASANCE AND COVENANT DEFEASANCE	  	63
			
	 Section 13.1
	  	Applicability of Article; Company’s Option to Effect Defeasance or Covenant Defeasance	  	63
			
	 Section 13.2
	  	Defeasance and Discharge	  	64
			
	 Section 13.3
	  	Covenant Defeasance	  	64
			
	 Section 13.4
	  	Conditions to Defeasance or Covenant Defeasance	  	64
			
	 Section 13.5
	  	Deposited Money and Government Obligations To Be Held In Trust	  	66
		
	ARTICLE XIV MISCELLANEOUS	  	67
			
	 Section 14.1
	  	Miscellaneous	  	67

  

 iv 

 Senior Debt Indenture (this “Indenture”), dated as of
                , 200  , between HUGHES SUPPLY, INC., a corporation duly organized and existing under the laws of the State of Florida (in this
Indenture called the “Company”), having its principal office at One Hughes Way, Orlando, Florida 32805 and
                                        
                        , a national banking association, as Trustee (in this Indenture called the “Trustee”).

  
 COMPANY RECITALS 
  
 The Company has duly authorized the execution and delivery of this Indenture
to provide for the issuance from time to time of its unsecured debentures, notes or other evidences of indebtedness (in this Indenture called 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
Company, in accordance with its terms, have been done. 
  
 NOW,
THEREFORE, THIS INDENTURE WITNESSETH: For and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the Securities
or of any series thereof, as follows: 
  
 ARTICLE I

  
 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

  
 Section 1.1 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 I have the meanings assigned to them in this Article I and include the plural as well as the singular; 
  
 (b) all other terms used in this Indenture which are defined in the Trust Indenture Act, either directly or
by reference in this Indenture, have the meanings assigned to them in this Indenture; 
  
 (c) all accounting terms not otherwise defined in this Indenture have the meanings assigned to them in accordance with GAAP; and

  
 (d) the word “Including” (and with
the correlative meaning “Include”) means including, without limiting the generality of, any description following such term. 
  
 Certain terms, used principally in Article VI below, are defined in that Article. 
  
 “Act,” when used with respect to any Holder, has
the meaning specified in Section 1.4 below. 
  
 “Affiliate” means another Person directly or indirectly controlling or controlled by or under direct or indirect common control with such first Person. For the 

  

 
purposes of this definition, “control” (including, with correlative meanings, the terms “controlling, “ “controlled by” and
“under common control with”), as applied to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of that Person, whether through the ownership of voting
securities or by contract or otherwise. 
  
 “Authenticating Agent” means any Person authorized by the Trustee to act on behalf of the Trustee to authenticate Securities. 
  
 “Bankruptcy Law” means Title 11, U.S. Code or any similar federal or state law for the relief of debtors. 
  
 “Board of Directors” means the board of directors
of the Company; provided, however, that when the context refers to actions or resolutions of the Board of Directors, then the term “Board of Directors” shall also mean any duly authorized committee of the Board of Directors of the Company
or Officer authorized to act with respect to any particular matter to exercise the power of the Board of Directors of the Company. 
  
 “Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company 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 or regulation to close. 
  
 “Capitalized Lease Obligation” means an obligation that is required to be classified and accounted for as a capitalized lease
for financial reporting purposes in accordance with generally accepted accounting principles; and the amount of Indebtedness represented by such obligation shall be the capitalized amount of such obligation determined in accordance with such
principles; and the Stated Maturity to this Indenture shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be terminated by the lessee without payment of a penalty.

  
 “Capital Stock” of any Person shall
mean any and all shares, interests, participations or other equivalents of or interests in (however designated) equity of such Person, including any preferred stock, but excluding any debt securities convertible into such equity. 
  
 “Commission” means the Securities and Exchange
Commission, as from time to time constituted, created under the Exchange Act, or, if at any time after the execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then
the body performing such duties at such time. 
  
 “Common Depositary” has the meaning specified in Section 3.4 below. 
  

 2 

 “Company” means the Person named as the “Company” in the first
paragraph of this Indenture until a successor corporation shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor corporation. 
  
 “Company Request” or “Company Order”
means a written request or order signed in the name of the Company by its Chairman of the Board, its President or a Vice President, and by its Treasurer, an Assistant Treasurer, its Controller, an Assistant Controller, its Secretary or an Assistant
Secretary, and delivered to the Trustee. 
  
 “Consolidated Net Worth” shall mean the stockholders’ equity of the Company and its consolidated Subsidiaries, as shown on the audited consolidated balance sheet in the Company’s latest annual report to stockholders.

  
 “Corporate Trust Office” means the
principal corporate trust office of the Trustee at which, at any particular time, its corporate trust business shall be administered, which office at the date of this Indenture is located at
                                        
    
                                       
                         , except for purposes of Section 10.2 below such term shall mean the office or agency of the
Trustee in the                                 , the City of
                        , which office at the date of this Indenture is located at
                                        
                            . 
  
 “Covenant Defeasance” has the meaning specified in Section 13.3 below. 
  
 “Currency Agreement” shall mean any foreign
exchange contract, currency swap agreement or other similar agreement or arrangement designed to protect such Person or any of its Subsidiaries against fluctuations in currency values. 
  
 “Custodian” means any receiver, trustee, assignee, liquidator, sequestrator or similar official
under any Bankruptcy Law. 
  
 “Default”
means any event which is, or after notice or passage of time or both would be, an Event of Default. 
  
 “Defaulted Interest” has the meaning specified in Section 3.7 below. 
  
 “Defeasance” has the meaning specified in Section
13.2 below. 
  
 “Dollars” and
“$” means lawful money of the United States of America. 
  
 “Event of Default” has the meaning specified in Section 5.1 below. 
  
 “Exchange Act” means the Securities and Exchange Act of 1934, as amended from time to time, and the rules and regulations
promulgated under this Indenture. 
  
 “GAAP” means such accounting principles that are generally accepted in the United States of America as of the date of any computation required under this Indenture. 
  
 “Holder” or “Security holder” means a Person in whose name a Security is registered in
the Security Register. 
  

 3 

 “Indebtedness” means, with respect to any Person, at any date, any of the
following, without duplication, (i) any liability, contingent or otherwise, of such Person (A) for borrowed money (whether or not the recourse of the lender is to the whole of the assets of such Person or only to a portion thereof), (B) evidenced by
a note, bond, debenture or similar instrument or (C) for the payment of money relating to a Capitalized Lease Obligation or other obligation (whether issued or assumed) relating to the deferred purchase price of property; (ii) all conditional sale
obligations and all obligations under any title retention agreement (even if the rights and remedies of the seller under such agreement in the event of default are limited to repossession or sale of such property), but excluding trade accounts
payable arising in the ordinary course of business; (iii) all obligations for the reimbursement of any obligor on any letter of credit, banker’s acceptance or similar credit transaction other than entered into in the ordinary course of
business; (iv) all indebtedness of others secured by (or for which the holder of such indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on any asset or property (including, without limitation, leasehold
interests and any other tangible or intangible property) of such Person, whether or not such indebtedness is assumed by such Person or is not otherwise such Person’s legal liability; provided, that if the obligations so secured have not been
assumed in full by such Person or are otherwise not such Person’s legal liability in full, the amount of such indebtedness for the purposes of this definition shall be limited to the lesser of the amount of such indebtedness or the amount of
such indebtedness secured by such Lien; (v) all indebtedness of others (including all interest and dividends on any Indebtedness or preferred stock of any other Person for the payment of which is) guaranteed, directly or indirectly, by such Person
or that is otherwise its legal liability or which such Person has agreed contingently to supply or advance funds; and (vi) obligations in respect of Currency Agreements and Interest Swap Obligations. 
  
 “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 to this Indenture entered into pursuant to the applicable provisions of this Indenture and shall include the terms of particular series of
Securities established as contemplated by Section 3.1 below. 
  
 “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. 
  
 “Interest Swap Obligations” shall mean the obligations of any Person pursuant to any interest rate swap agreement, interest rate
collar agreement or other similar agreement or arrangement designed to protect such Person or any of its Subsidiaries against fluctuations in interest rates. 
  

“Lien” shall mean any mortgage, pledge, security interest, encumbrance, lien, charge or adverse claim affecting title or
resulting in an encumbrance against real or personal property or a security interest of any kind (including, without limitation, any conditional sale or other title retention agreement or lease in the nature thereof other than a lease which is not a
Capitalized Lease Obligation.) 
  

 4 

 “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 in this Indenture or in this Indenture provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 
  
 “Officer” means the Chairman of the Board, the
Vice Chairman of the Board, the President, any Senior or Executive Vice President, any Vice President, the Treasurer, any Assistant Treasurer, the Controller, the Secretary or any Assistant Secretary of the Company. 
  
 “Officer’s Certificate” means a certificate
signed by an Officer and delivered to the Trustee. 
  
 “Opinion of Counsel” means a written opinion of counsel, who may be an employee of or counsel for the Company, and who shall be reasonably acceptable to the Trustee. 
  
 “Original Issue Discount Security” means any Security which provides for an amount less than the
principal amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.2 below. 
  
 “Outstanding,” when used with respect to Securities or Securities of any series, means, as of the date of determination, all
such 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 in the necessary amount has been theretofore deposited with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for
the Holders of such Securities; provided that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made; (iii) Securities which
have been paid pursuant to Section 3.6 below or in exchange for or in lieu of which other Securities have been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented
to the Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in whose hands such Securities are valid obligations of the Company; and (iv) Securities which have been defeased pursuant to Section 13.2 below;
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 under this Indenture, (a) the principal
amount of an Original Issue Discount Security that shall be deemed to be Outstanding for such purposes shall be that portion of the principal amount thereof that could be declared to be due and payable upon the occurrence of an Event of Default and
the continuation thereof pursuant to the terms of such Original Issue Discount Security as of the date of such determination and (b) Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the Company 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, only Securities
which the Trustee knows to be so owned shall be so disregarded. Securities so owned which have been pledged in good faith may be 

  

 5 

 
regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and
that the pledgee is not the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor. 
  
 “Paying Agent” means any Person authorized by the Company to pay the principal of (and premium, if any) or interest on any
Securities on behalf of the Company. The Company may act as Paying Agent with respect to any Securities issued under this Indenture. 
  
 “Person” means any individual, corporation, partnership, limited partnership, joint venture, association, joint-stock company,
trust, unincorporated organization, government or any agency or political subdivision thereof, or any other entity. 
  
 “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 3.1 below. 
  
 “Redemption Date,” when used with respect to any Security of any series 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 of any series to be redeemed, means the price at which it is to be redeemed pursuant to this Indenture. 
  
 “Registered Security” means any Security issued under this Indenture and registered in the
Security Register. 
  
 “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 3.1 below. 
  
 “Responsible Officer,” when used with respect to the Trustee, means any officer of the Trustee in
its Corporate Trust Office and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the particular subject. 
  
 “Securities” has the meaning stated in the first
recital of this Indenture and more particularly means any Securities authenticated and delivered under this Indenture. 
  

 6 

 “Security Register” and “Security Registrar” have the respective
meanings specified in Section 3.5 below. 
  
 “Significant Subsidiary” means any direct or indirect Subsidiary of the Company that is a “significant subsidiary,” as defined in Regulation S-X promulgated under the Securities Act of 1933, as amended. 
  
 “Special Record Date” for the payment of any
Defaulted Interest means a date fixed by the Trustee pursuant to Section 3.7 below. 
  
 “Stated Maturity,” when used with respect to any Security or any installment of principal thereof or interest thereon, means the
date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable. 
  
 “Subsidiary” of any Person means (i) any Person 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 of such Person is at the time owned or controlled, directly or indirectly, by any Person or one or more of the Subsidiaries of
that Person or a combination of such Person and its Subsidiaries, and (ii) any partnership, joint venture or other Person in which such Person or one or more of the Subsidiaries of that Person or a combination of such Person and its Subsidiaries has
the power to control by contract or otherwise the board of directors or equivalent governing body or otherwise controls such entity. 
  
 “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, as in force at the date as of which this Indenture was
executed; provided, however, that in the event that such Act is amended after such date, “Trust Indenture Act” means the Trust Indenture Act of 1939 as so amended. 
  
 “Trustee” means the Person named as the “Trustee” in the first paragraph of this
instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee under this Indenture, and if at any time
there is more than one such Person, “Trustee” as used with respect to the Securities of any series shall mean the Trustee with respect to Securities of that series. 
  
 “U.S. Depositary” means, with respect to the Securities of any series issuable or issued in whole
or in part in the form of one or more permanent global Securities, the Person designated as U.S. Depositary by the Company pursuant to Section 3.1 below, which must be a clearing agency registered under the Exchange Act until a successor U.S.
Depositary shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “U.S. Depositary” shall mean or include each Person who is then a U.S. Depositary under this Indenture, and if at any time there is
more than one such Person, “U.S. Depositary” shall mean the U.S. Depositary with respect to the Securities of that series. 
  
 “U.S. Government Obligations” means securities which are (i) direct obligations of the United States of America for the payment
of which its full faith and credit is pledged or (ii) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the timely payment of which is unconditionally guaranteed by the
full faith and credit of the United States of America which, in either case, are not callable or redeemable at the option of the issuer thereof or 

  

 7 

 
otherwise subject to prepayment, and shall also include a depository receipt issued by a New York Clearing House bank or trust company as custodian with
respect to any such U.S. Government Obligation or a specific payment or 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 or from any amount held 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. 
  
 “Vice President,” when used with respect to the Company or the Trustee, means any vice president, whether or not designated by a
number or a word or words added before or after the title “vice president”. 
  
 Section 1.2 Compliance Certificates and Opinions. 
  
 Upon any application or request by the Company to the Trustee to take any action under any provision of this Indenture, other than an action permitted by Sections 2.5 and 7.4 below, the Company shall furnish to the Trustee an Officer’s
Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions 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 shall include: 
  
 (a) a statement that each individual signing such certificate or opinion has read such covenant or condition and the definitions in this
Indenture relating thereto ; 
  
 (b) 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; 
  
 (c) 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 
  
 (d) a statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with. 
  
 Section 1.3 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 

  

 8 

 
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 may be
based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such Officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with
respect to the matters upon which his certificate or opinion is based are erroneous. Any such certificate or Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an
Officer or Officers of the Company stating that the information with respect to such factual matters is in the possession of the Company, 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 1.4 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 agents duly appointed in
writing; and, except as in this Indenture otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Company. Such instrument
or instruments (and the action embodied in this Indenture and evidenced thereby) are in this Indenture sometimes referred to as the “Act” of the Holders signing such instrument or instruments. 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 (subject to Section 6.1 below) conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section 1.4. 
  
 (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. 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 Registered 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 

  

 9 

 
or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee or the Company in reliance thereon,
whether or not notation of such action is made upon such Security. 
  
 (e) If the Company shall solicit from the Holders any request, demand, authorization, direction, notice, consent, waiver or other Act, the Company may, at its option, by or pursuant to a Board Resolution, fix in
advance a record date for the determination of Holders entitled to give such request, demand, authorization, direction, notice, consent, waiver or other Act, but the Company shall have no obligation to do so. If such a record date is fixed, such
request, demand, authorization, direction, notice, consent, waiver or other Act may be given before or after such record date, but only the Holders of record at the close of business on such record date shall be deemed to be Holders for the purposes
of determining whether Holders of the requisite proportion of Outstanding Securities have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other Act, and for that purpose the Outstanding
Securities shall be computed as of such record date; provided that no such authorization, agreement or consent by the Holders on such record date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture
not later than six months after the record date. 
  
 Section 1.5 Notices, Etc.,
to Trustee and Company. 
  
 Any request, demand,
authorization, direction, notice, consent, waiver or Act of Holders or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed with, 
  
 (a) the Trustee by any Holder or by the Company shall be sufficient for every purpose under this Indenture
if made, given, furnished or filed in writing to or with the Trustee and received by the Trustee at its Corporate Trust Office, Attention: Corporate Trust Administration, or 
  
 (b) the Company by the Trustee or by any Holder shall be sufficient for every purpose under this Indenture
(unless otherwise in this Indenture expressly provided) if in writing and mailed, first-class postage prepaid, to the Company addressed to it at the address of its principal office specified in the first paragraph of this Indenture, attention:
Secretary, or at any other address previously furnished in writing to the Trustee by the Company. 
  
 Section 1.6 Notice to Holders; Waiver. 
  
 Where this Indenture or any Security provides for notice to Holders of any event, such notice shall be deemed sufficiently given (unless otherwise in this Indenture or in such Security 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 or the
validity of the proceedings to which such notice relates. Where this Indenture or any Security provides for notice in any 

  

 10 

 
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 under this Indenture. 
  
 Any request, demand, authorization, direction, notice, consent or waiver
required or permitted under this Indenture shall be in the English language, except that any published notice may be in an official language of the country of publication. 
  
 Section 1.7 Conflict with Trust Indenture Act. 
  
 If any provision of this Indenture limits, qualifies or conflicts with another provision of this Indenture which is required
to be included in this Indenture by any of the provisions of the Trust Indenture Act, such required provision shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act that may be so modified or
excluded, the latter provision shall be deemed to apply to this Indenture as so modified or shall be excluded, as the case may be. 
  
 Section 1.8 Effect of Headings and Table of Contents. 
  
 The Article and Section headings in this Indenture and the Table of Contents are for convenience only and shall not affect the construction of this
Indenture. 
  
 Section 1.9 Successors and Assigns. 
  
 All covenants and agreements in this Indenture by the Company shall bind its
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 to this Indenture and their successors under this Indenture and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture. 
  
 Section 1.12 Governing Law. 
  
 This Indenture and the Securities shall be governed by and construed in
accordance with the laws (other than the choice of law provisions) of the State of New York. 
  

 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 interest or principal (and premium, if any) need not be made at such Place of Payment on such date, but may be made on the next
succeeding Business Day or on such other day as may be set out in the Officer’s Certificate pursuant to Section 3.1 below 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 interest shall accrue for the period from and after such Interest Payment Date, Redemption Date or Stated Maturity, as the case may be. 
  
 Section 1.14 No Recourse Against Others. 
  
 A director, officer, employee or stockholder, as such, of the Company shall not have any liability for any obligations of the Company under the Securities
or this Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each Security holder, by accepting a Security, waives and releases all such liability. Such waivers and releases are part of the
consideration for the issuance of the Securities. 
  
 ARTICLE II

  
 SECURITY FORMS 
  
 Section 2.1 Forms Generally. 
  
 The Securities of each series shall be in substantially the form set forth in
this Article, or in such other form as shall be established by or pursuant to a Board Resolution or in one or more indentures supplemental to this Indenture, 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 the Securities. 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 Company and delivered to the Trustee at or prior to the delivery of the Company Order contemplated by Section 3.3 below for the
authentication and delivery of such Securities. 
  
 The
Trustee’s certificates of authentication shall be in substantially the form set forth in this Article II. 
  
 The definitive Securities shall be photocopied, 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. 
  

 12 

 Section 2.2 Form of Face of Security. 
  
 (If the Security is an Original Issue Discount Security, insert—for purposes of Section 1272 of the Internal Revenue
Code of 1986, as amended (the “Code”), the amount of original issue discount (as defined in Section 1273 (a) (1) of the Code and Treasury Regulation Section 1.1273-l(a) with respect to this Security is
                , the issue price (as defined in Treasury Regulation Section 1.1273-2) of this Security is
                , the Issue Date (as defined in Section 1275(a)(2) of the Code and Treasury Regulation Section 1.1273-2) of this Security is
                 and the yield to maturity of this Security is
                ). 
  
 Hughes Supply, Inc. 
  

  

			
	No.                     	  	($)                    

  
 Hughes Supply, Inc., a
corporation duly organized and existing under the laws of the State of Florida (herein called the “Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to
pay to, or registered assigns, the principal sum of $                 on
                    . (If the Security is to bear interest prior to Maturity, insert —, and to pay interest thereon from
                                 or from the most recent Interest Payment Date to
which interest has been paid or duly provided for, (semi-annually) (quarterly) (monthly) in arrears on                      and in each year,
commencing                         , at the rate of
                % per annum, until the principal hereof is paid or made available for payment (If applicable insert—, and (to the extent that the payment of
such interest shall be legally enforceable) at the rate of                 % per annum on any overdue principal and premium and on any overdue installment of
interest). The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered
at the close of business on the Regular Record Date for such interest, which shall be the                      of (whether or not a Business
Day), as the case maybe, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in
whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of
Securities of this series not less than ten days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be
listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture.) 
  
 (If the Security is not to bear interest prior to Maturity, insert—The principal of this Security shall not bear interest except in the case of a
default in payment of principal upon acceleration, upon redemption or at Stated Maturity and in such case the overdue principal of this Security shall bear interest at the rate of
                % per annum (to the extent that the payment of such interest shall be legally enforceable), which shall accrue from the date of such default in
payment to the date payment of such principal has been made or duly provided for. Interest on any overdue principal shall be payable on demand. Any such 

  

 13 

 
interest on any overdue principal that is not so paid on demand shall bear interest at the rate of
                % per annum (to the extent that the payment of such interest shall be legally enforceable), which shall accrue from the date of such demand for
payment to the date payment of such interest has been made or duly provided for, and such interest shall also be payable on demand.) 
  
 Payment of the principal of, and premium, if any, and (if applicable, insert—any such) interest on this Security will be made at the office or agency
of the Company maintained for that purpose in                 , in Dollars (if applicable, insert—; provided, however, that at the option of the Company
payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in this Security Register). 
  
 Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have
the same effect as if set forth at this place. 
  
 Unless the
certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

  
 IN WITNESS WHEREOF, the Company has caused this instrument to
be duly executed under its corporate seal. 
  

			
	 Hughes Supply, Inc.

		
	By:	 	 
	 	 	 

  
 Attest:
                                        
                                 
  
 (SEAL) 
  
 Section 2.3 Form of Reverse of Security. 
  
 This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be issued in one or
more series under an Indenture, dated as of                     , 200   (herein called the “Indenture”),
between the Company and
                                        
                , as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all
indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the
Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof (limited in aggregate principal amount to
$                ). (If applicable, insert—The Securities of this series are subject to redemption upon not less than 30 nor more than 45 days’ notice
by first class mail, (if applicable, insert—(1) on                  in any year commencing with the year
                 and ending with the year                  through
operation of the sinking fund for this series at a Redemption Price equal to 100% of the principal amount, and (2)) at any time 

  

 14 

 
(on or after                 ,), as a whole or in part, at the
election of the Company, at the following Redemption Prices (expressed as percentages of the principal amount): 
  
 If redeemed (on or before                 ,
                %, and if redeemed) during the 12-month period beginning
                 of the years indicated, Year                  Redemption
Price                  Year                  Redemption Price and
thereafter at a Redemption Price equal to                  of the principal amount, together in the case of any such redemption (if applicable, insert —
(whether through operation of the sinking fund or otherwise)) with accrued and unpaid interest to the Redemption Date, but interest installments whose Stated Maturity is on or prior to such Redemption Date will be payable to the Holders of such
Securities, or one or more Predecessor Securities, of record at the close of business on the relevant Record Dates referred to on the face hereof, all as provided in the Indenture.) 
  
 (If applicable, insert — The Securities of this series are subject to redemption upon not less than 30 nor more than 45
days’ notice by first class mail, (1) on                  in any year commencing with the year
                 and ending with the year                  through
operation of the sinking fund for this series at the Redemption Prices for redemption through operation of the sinking fund (expressed as percentages of the principal amount) set forth in the table below, and (2) at any time (on or after
                ), as a whole or in part, at the election of the Company, at the Redemption Prices for redemption otherwise than through operation of the sinking
fund (expressed as percentages of the principal amount) set forth in the table below: 
  
 If redeemed during a 12-month period beginning                  of the years indicated, 
  

			
	Redemption Price for Redemption Through Operation of the Sinking Fund	  	Redemption Price for Redemption Otherwise then Through Operation of the Sinking Fund

  
 and thereafter at a
Redemption Price equal to                  % of the principal amount, together in the case of any such redemption (whether through operation of the sinking fund
or otherwise) with accrued and unpaid interest to the Redemption Date, but interest installments whose Stated Maturity is on or prior to such Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor Securities,
of record at the close of business on the relevant Record Dates referred to on the face hereof, all as provided in the Indenture.) 
  
 (Notwithstanding the foregoing, the Company may not, prior to
                 redeem any Securities of this series as contemplated by (clause (2) of) the preceding paragraph as a part of, or in anticipation of, any
refunding operation by the application, directly or indirectly, of moneys borrowed having an interest cost to the Company (calculated in accordance with generally accepted financial practice) of less than
                % per annum.) 
  
 (The sinking fund for this series provides for the redemption on in each year beginning with the year
                 and ending with the year                  of (not less
than) 

  

 15 

 
$                  ((“mandatory sinking fund”) and not more
than $                 aggregate principal amount of Securities of this series.) (Securities of this series acquired or redeemed by the Company otherwise than
through (mandatory) sinking fund payments may be credited against subsequent (mandatory) sinking fund payments otherwise required to be made—in the (inverse) order in which they become due.) 
  
 (In the event of redemption of this Security in part only a new Security or
Securities of this series for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof.) 
  
 (If the Security is not an Original Issue Discount Security, insert — If any Event of Default with respect to Securities of this series shall occur
and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture.) (If the Security is an Original Issue Discount Security, insert — If an Event of
Default with respect to Securities of this series shall occur and be continuing, an amount of principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. Such amount shall
be equal — insert formula for determining the amount.) Upon payment (i) of the amount of principal so declared due and payable and (ii) of interest on any overdue principal and overdue interest (in each case to the extent that the payment of
such interest shall be legally enforceable), all of the Company’s obligations in respect of the payment of the principal of and interest, if any, on the Securities of this series shall terminate. 
  
 This Security is a senior unsecured obligation of the Company and will rank
pari passu in right of payment with all other senior unsecured obligations of the Company. 
  
 This Security is subject to Defeasance as described in the Indenture. The Indenture may be modified by the Company and the Trustee without consent of any Holder with respect to certain matters as described in the
Indenture. In addition, the Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be
affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions
permitting the Holders of a majority in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture
and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall bind such Holder and all future Holders of this Security and of any Security issued upon the registration of
transfer hereof or in exchange hereof or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
  
 No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of, and premium, if any, and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 
  
 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is
registrable in the Security Register, upon surrender of this 

  

 16 

 
Security for registration of transfer at the office or agency of the Company in any place where the principal of (and premium, if any) and interest on this
Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by the Holder hereof or his attorney duly authorized in writing, and thereupon
one or more new Securities of this series, of authorized denominations and for the same Stated Maturity and aggregate principal amount, will be issued to the designated transferee or transferees. 
  
 The Securities of this series are issuable only in registered form without
coupons in denominations of $5,000 and any integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal
amount of Securities of this series of a different authorized denomination, as requested by the Holder surrendering the same. 
  
 No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith. 
  
 Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all
purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
  
 The Indenture imposes certain limitations on the ability of the Company to, among other things, merge or consolidate with any other Person or sell,
assign, transfer or lease all or substantially all of its properties or assets (If other covenants are applicable pursuant to the provisions of Section 3.1, insert here). All such covenants and limitations are subject to a number of important
qualifications and exceptions. The Company must report periodically to the Trustee on compliance with the covenants in the Indenture. 
  
 A director, officer, employee or stockholder, as such, of the Company shall not have any liability for any obligations of the Company under this Security
or the Indenture or for any claim based on, in respect of or by reason of, such obligations or their creation. Each Holder, by accepting a Security, waives and releases all such liability. The waiver and release are part of the consideration for the
issuance of this Security. 
  
 (If applicable, insert —
Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures (“CUSIP”), the Company has caused CUSIP numbers to be printed on the Securities of this series as a convenience to the Holders of the
Securities of this series. No representation is made as to the correctness or accuracy of such numbers as printed on the Securities of this series and reliance may be placed only on the other identification numbers printed hereon.) 
  
 All capitalized terms used in this Security without definition which are
defined in the Indenture shall have the meanings assigned to them in the Indenture. 
  

 17 

 ASSIGNMENT FORM 
  

To assign this Security, fill in the form below: (I) or (we) assign and transfer this Security to 
  

			
	 
	 (Insert assignee’s social security or tax I.D. number)
	  	 
	 
	 
	 
	 
	 (Print or type assignee’s name, address and zip code)
	  	 

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

			
	 Dated:
                        
	 	 Your Signature:                                   
                          

	  	 	 (Sign exactly as your name appears on the other side of this Security)

  
 Signature Guaranty: 
  

					
	 	 	
	  	 
	 	 	(Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Transfer Agent, which requirements will include membership or participation in
STAMP or such other “signature guarantee program” as may be determined by the Security Registrar in accordance with the Exchange Act.)	  	 

  
 Social Security Number or Taxpayer
Identification Number:                                  
  
 Section 2.4 Form of Trustee’s Certificate of Authentication.

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

			
	 
	as Trustee
		
	By:	 	 
	 	 	 Authorized Signatory

  

 18 

 Section 2.5 Securities in Global Form. 
  
 If Securities of a series are issuable in global form, as contemplated by Section 3.1 below, then, notwithstanding the
provisions of Section 3.2 below, any such Security shall represent such of the Outstanding Securities of such series as shall be specified in this Indenture and may provide that it shall represent the aggregate amount of Outstanding Securities from
time to time endorsed thereon and that the aggregate amount of Outstanding Securities represented thereby may from time to time be reduced to reflect exchanges. Any endorsement of a Security in global form to reflect the amount, or any increase or
decrease in the amount, of Outstanding Securities represented thereby shall be made in such manner and upon instructions given by such Person or Persons as shall be specified in this Indenture or in the Company Order to be delivered to the Trustee
pursuant to Section 3.3 below or Section 3.4 below. Subject to the provisions of Section 3.3 below and, if applicable, Section 3.4 below, the Trustee shall deliver and redeliver any Security in permanent global form in the manner and upon
instructions given by the Person or Persons specified therein or in the applicable Company Order. If a Company Order pursuant to Section 3.3 below or 3.4 below has been, or simultaneously is, delivered, any instructions by the Company with respect
to endorsement or delivery or redelivery of a Security in global form shall be in writing but need not comply with Section 1.2 above and need not be accompanied by an Opinion of Counsel. 
  
 The provisions of Section 3.9 below shall apply to any Security represented by a Security in global form if such Security
was never issued and sold by the Company and the Company delivers to the Trustee the Security in global form together with written instructions (which need not comply with Section 1.2 above and need not be accompanied by an Opinion of Counsel) with
regard to the reduction in the principal amount of Securities represented thereby. 
  
 Notwithstanding the provisions of Sections 2.1 above and 3.7 below, unless otherwise specified as contemplated by Section 3.1 below, payment of principal of, premium, if any, and interest on any Security in permanent
global form shall be made to the Person or Persons specified therein. 
  
 Notwithstanding the provisions of Section 3.8 below and except as provided in the preceding paragraph, the Company, the Trustee and any agent of the Company and the Trustee shall treat a Person as the Holder of such principal amount of
Outstanding Securities represented by a permanent global Security as shall be specified in a written statement of the Holder of such permanent global Security. 
  

Section 2.6 CUSIP Number. 
  
 The Company in issuing Securities of any series may use a “CUSIP” number, and, if so, the Trustee may use the CUSIP number in notices of
redemption or exchange as a convenience to Holders of such series; provided, that any such notice may state that no representation is made as to the correctness or accuracy of the CUSIP number printed on the notice or on the Securities of such
series, 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 Company will promptly notify the Trustee of
any change in the CUSIP number of any series of Securities. 
  

 19 

 Section 2.7 Form of Legend for the Securities in Global Form. 
  
 Any Security in global form authenticated and delivered hereunder shall bear
a legend in substantially the following form: 
  
 “This
Security is in global form within the meaning of the Indenture hereinafter referred to and is registered in the name of a Common Depositary or a U.S. Depositary. Unless and until it is exchanged in whole or in part for Securities in certificated
form, this Security may not be transferred except as a whole by the Common Depositary or a U.S. Depositary or by a nominee of the Common Depositary or a nominee of the U.S. Depositary as the case may be.” 
  
 ARTICLE III 
  
 THE SECURITIES 
  
 Section 3.1 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 from
time to time in one or more series. All Securities of any one series need not be issued at the same time and, unless otherwise provided in this Indenture or any supplemental indenture, a series may be reopened, without the consent of the Holders of
the Securities of that series, for issuances of additional Securities of that series. All Securities of a particular series shall be substantially identical except as to the date of issuance, issue price and, if applicable, the date from which
interest shall accrue. There shall be established in or pursuant to a Board Resolution, and set forth in an Officer’s Certificate, or established in one or more indentures supplemental hereto, prior to the issuance of Securities of any series:

  
 (a) the title of the Securities of the series
(which shall distinguish the Securities of the series from all other Securities); 
  
 (b) 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 Sections 3.4, 3.5, 3.6, 9.6 or 11.7 below); 
  
 (c) whether any Securities of the series are to be issuable
in permanent global form with or without coupons and, if so, (i) whether beneficial owners of interests in any such permanent global security may exchange such interests for Securities of such series and of like tenor of any authorized form and
denomination and the circumstances under which any such exchanges may occur, if other than in the manner provided in Section 3.5 below, and (ii) the name of the Common Depositary (as defined in Section 3.4 below) or the U.S. Depositary, as the case
may be, with respect to any global security; 
  

 20 

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

  
 (e) the rate or rates at which the Securities
of the series shall bear interest (including reset rates, if any, and the method by which such rate will be determined), if any, the date or dates from which such interest shall accrue, 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 and, if applicable to such series of Securities, the basis points and United States Treasury rate(s) and any other rates or other methods to be used in
calculating the reset rate; 
  
 (f) the place or
places where the principal of (and premium, if any) and interest on Securities of the series shall be payable and where the Company will maintain an office or agency where Securities may be presented for registration of transfer or exchange and the
place or places where notices and demands to or upon the Company in respect of Securities and this Indenture may be made; 
  
 (g) the right of the Company, if any, to defer any payment of principal of, premium, or interest on the Securities of the series, and the
maximum length of any such deferral period which shall not exceed the Stated Maturity for the final installment of principal on the Securities of such series; 
  

(h) the period or periods within which, the price or prices at which the currency or currency units and the terms and conditions upon
which Securities of the series may be redeemed, in whole or in part, at the option of the Company, pursuant to any sinking fund or otherwise; 
  
 (i) the obligation, if any, of the Company 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, the currency or currency units 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, and, where applicable, the obligation of the Company to select the Securities to be redeemed; 
  
 (j) if other than denominations of $5,000 and any integral multiples of $1,000 in excess thereof, the denominations in which Securities of
the series shall be issuable; 
  
 (k) 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 5.2 below; 
  
 (l) any additions, modifications or deletions in the Events
of Default with respect to Securities of the series, if any, other than those set forth in this Indenture; 
  
 (m) if either or both of Section 13.2 below and Section 13.3 below shall be inapplicable to the Securities of the series (provided that if
no such inapplicability shall be 

  

 21 

 
specified, then both Section 13.2 below and Section 13.3 below shall be applicable to the Securities of the series); 
  
 (n) if other than U.S. dollars, the currency or currencies
or units based on or related to currencies in which the Securities of such series shall be denominated and in which payments or principal of, and any premium and interest on, such Securities shall or may by payable; 
  
 (o) additions, modifications or deletions of the
Company’s covenants with respect to Securities of the series, if any, other than those set forth herein; 
  
 (p) if other than the Trustee, the identity of the Registrar and any Paying Agent; 
  
 (q) the appointment of a Person as a Trustee which meets the
requirements of Section 6.9 below with respect to Securities of the series; 
  
 (r) any index or indices used to determine the amounts of payments of principal of and premium, if any, on the Securities and the manner in which such amounts will be determined; 
  
 (s) the terms and conditions of any obligation or right of
the Company or a Holder to exchange or convert Securities into other securities; 
  
 (t) whether and under what circumstances the Company will pay additional amounts on the Securities of the series held by a Person in
respect of any tax, assessment or governmental charge withheld or deducted and, if so, whether the Company will have the option to redeem such Securities rather than pay such additional amounts; 
  
 (u) any other terms of the series (which terms shall not be
inconsistent with the provisions of this Indenture). 
  
 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 Officer’s Certificate or in any such Indenture
supplemental hereto. 
  
 If any of the terms of the series are
established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the
Officer’s Certificate setting forth, or providing the manner for determining, the terms of the Securities of such series. 
  
 Section 3.2 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
3.1 above. 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 $5,000 and any integral multiples of $1,000 in excess thereof. 
  

 22 

 Section 3.3 Execution, Authentication, Delivery and Dating. 
  
 The Securities shall be executed on behalf of the Company by its Chairman of
the Board, its Vice 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. The seal of the Company may be in the form of a facsimile thereof and may be impressed, affixed, imprinted or otherwise reproduced on the Securities. Typographical and other minor errors or defects in any such
reproduction of the seal or any such signature shall not affect the validity or enforceability of any security that has been duly authenticated and delivered by the Trustee. 
  
 Securities bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company
shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities. 
  
 At any time and from time to time after the execution and delivery of this
Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities, and the Trustee in accordance with the
Company Order shall authenticate and make such Securities available for delivery. If the form or terms of the Securities of the series have been established in or pursuant to one or more Board Resolutions as permitted by Sections 2.1 and 3.1 above,
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 Sections 315(a) through (d) of the Trust Indenture Act)
shall be fully protected in relying upon, an Opinion of Counsel stating, 
  
 (a) if the form of such Securities has been established by or pursuant to Board Resolution as permitted by Section 2.1 above, that such form has been established in conformity with the provisions of this Indenture;

  
 (b) if the terms of such Securities have been
established by or pursuant to Board Resolution as permitted by Section 3.1 above, that such terms have been established in conformity with the provisions of this Indenture; 
  
 (c) that such Securities, when authenticated and delivered by the Trustee and issued by the Company in the
manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company, enforceable in accordance with their terms, except to the extent enforceability may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium and other similar laws affecting the enforcement of creditors’ rights generally and by the effect of general principles of equity (regardless of whether enforceability is considered
in a proceeding in equity or at law); and 
  
 (d)
that no consent, approval, authorization, order, registration or qualification of or with any court or any governmental agency or body having jurisdiction over the Company is required for the execution and delivery of such Securities by the 

  

 23 

 
Company, except such as have been obtained (except that no opinion need be expressed as to state securities or Blue Sky laws). 
  
 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, or in the written opinion of counsel to the Trustee (which counsel may be an employee of the Trustee) such authentication may not lawfully be made or would involve the Trustee in personal liability. 

 
 Notwithstanding the provisions of Section 3.1 above and of the immediately
preceding paragraph, if all Securities of a series are not to be originally issued at one time, it shall not be necessary to deliver the Officer’s Certificate otherwise required pursuant to Section 3.1 above or the Company Order and Opinion of
Counsel otherwise required pursuant to the immediately preceding paragraph 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. 
  
 If the Company
shall establish pursuant to Section 3.1 above that the Securities of a series are to be issued in the form of one or more global Securities, then the Company shall execute and the Trustee shall, in accordance with this Section 3.3 and the Company
Order with respect to the authentication and delivery of such series, authenticate and deliver one or more global Securities that (i) shall be in an aggregate amount equal to the aggregate principal amount specified in such Company Order, (ii) shall
be registered in the name of the Common Depositary or U.S. Depositary, as the case may be, therefor or its nominee, and (iii) shall be made available for delivery by the Trustee to such depositary or pursuant to such depositary’s instruction.

  
 Each depositary designated pursuant to Section 3.1 above must,
at the time of its designation and at all times while it serves as depositary, be a clearing agency registered under the Exchange Act and any other applicable statute or regulation. 
  
 Unless otherwise provided for in the form of security, 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 under this Indenture and is entitled to the benefits of this Indenture. 
  
 Section 3.4 Temporary Securities. 
  
 Pending the preparation of definitive Securities of any series, the Company
may execute, and upon Company Order the Trustee shall authenticate and make available for delivery, temporary Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially
of the tenor of the 

  

 24 

 
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. 
  
 In the case of Securities of any series, such temporary Securities may be in global form, representing all or a portion of the Outstanding Securities of such series. 
  
 Except in the case of temporary Securities in global form (which shall be
exchanged in accordance with the provisions of Section 3.5 below), if temporary Securities of any series are issued, the Company will cause definitive Securities of that series to be prepared without unreasonable delay. After the preparation of
definitive Securities of such series, the temporary Securities of such series shall be exchangeable for definitive Securities of such series upon surrender of the temporary Securities of such series at the office or agency of the Company in a Place
of Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series, the Company shall execute and the Trustee shall authenticate and make available for delivery in exchange
therefor a like principal amount of definitive Securities of the same series of authorized denominations and of like tenor. 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. 
  
 If
temporary Securities of any series are issued in global form, any such temporary global Security shall, unless otherwise provided therein, be delivered to the office of a depositary or common depositary (the “Common Depositary”) for credit
to the respective accounts of the beneficial owners of such Securities (or to such other accounts as they may direct). 
  
 Section 3.5 Registration, Registration of Transfer and Exchange. 
  
 The Company shall cause to be kept at the Corporate Trust Office of the Trustee a register (the register maintained in such office and in any other office
or agency of the Company in a Place of Payment being in this Indenture sometimes collectively referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the
registration of Securities and of registration of transfers of Securities. The Trustee is hereby appointed “Security Registrar” for the purpose of registering Securities and transfers of Securities as in this Indenture provided.

  
 Upon surrender for registration of transfer of any security of
any series at the office or agency of the Company in Place of Payment for that series, the Company shall execute, and the Trustee shall authenticate and make available for delivery, 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. 
  
 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 a
like aggregate principal amount and Stated Maturity, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate
and make available for delivery, the Securities which the Holder making the exchange is entitled to receive. 
  

 25 

 Any global Security of a series initially shall (i) be registered in the name of the Common Depositary or
the U.S. Depositary, who shall be identified in a supplemental indenture with respect to such series of Securities or pursuant to the Board Resolution authorizing the issuance of such series of Securities or the nominee of such depositary, (ii) be
delivered to the Trustee as custodian for such depositary and (iii) bear any required legends. 
  
 Members of, or participants in, the depositary (“Agent Members”) shall have no rights under this Indenture with respect to any global Security held on their behalf by the depositary, or the Trustee as its
custodian, or under the global Security, and the depositary may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of the global Security for all purposes whatsoever. 
  
 Transfers of any global Security shall be limited to transfers in whole, but
not in part, to the depositary, its successors or their respect nominees. Interests of beneficial owners in the global Security may be transferred or exchanged for definitive Securities in accordance with the rules and procedures of the depositary.
Definitive Securities shall be transferred to all beneficial owners in exchange for their beneficial interests in a global Security only if (i) the depositary notifies the Company that it is unwilling or unable to continue as depositary for the
global Security, or the depositary has ceased to be a “clearing agency” registered under the Exchange Act, and a successor depositary is not appointed by the Company within 90 days of such notice, (ii) the Company in its sole discretion
elects not to have the Securities represented by a global Security and to cause the issuance of definitive Securities or (iii) an Event of Default has occurred and is continuing. 
  
 In connection with any transfer or exchange of a portion of the beneficial interest in any global Security to beneficial
owners pursuant to paragraph (b), the Security Registrar shall (if one or more definitive Securities are to be issued) reflect on the Security Register the date and a decrease in the principal amount of the global Security in an amount equal to the
principal amount of the beneficial interest in the global Security to be transferred, and the Company shall execute, and the Trustee shall authenticate and deliver, one or more definitive Securities of like tenor and amount. 
  
 In connection with the transfer of an entire global Security to beneficial
owners pursuant to paragraph (b), the global Security shall be deemed to be surrendered to the Trustee for cancellation, and the Company shall execute, and the Trustee shall authenticate and deliver, to each beneficial owner identified by the
depositary in exchange for its beneficial interest in the global Security, an equal aggregate principal amount of definitive Securities of authorized denominations. If the beneficial owners of interests in a permanent global security are entitled to
exchange such interests for Securities of such series and of like tenor and principal amount of another authorized form and denomination, as specified and as subject to the conditions contemplated by Section 3.1 above, then without unnecessary delay
but in any event not later than the earliest date on which such interests may be so exchanged, the Company shall deliver to the Trustee definitive Securities of that series in aggregate principal amount equal to the principal amount of such
permanent global security, executed by the Company. On or after the earliest date on which such interests may be so exchanged, such permanent global Securities shall be surrendered from time to time by the Common Depositary or the U.S. Depositary,
as the case may be, and in accordance with instructions given to the Trustee and the Common 

  

 26 

 
Depositary or the U.S. Depositary, as the case may be (which instructions shall be in writing but need not comply with Section 1.2 above or be accompanied by
an Opinion of Counsel), as shall be specified in the Company Order with respect thereto to the Trustee, as the Company’s agent for such purpose, to be exchanged, in whole or in part, for definitive Securities of the same series without charge.
The Trustee shall authenticate and make available for delivery, in exchange for each portion of such surrendered permanent global security, a like aggregate principal amount of definitive Securities of the same series of authorized denominations and
of like tenor as the portion of such permanent global security to be exchanged which shall be in the form of the Securities of such series; provided, however, that no such exchanges may occur 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 11.3 below and ending at the close of business on the day of such mailing. Promptly following any such exchange in part,
such permanent global Security shall be returned by the Trustee to the Common Depositary or the U.S. Depositary, as the case may be, or such other Common Depositary or U.S. Depositary referred to above in accordance with the written instructions of
the Company referred to above. If a Security in the form specified for such series is issued in exchange for any portion of a permanent global Security after the close of business at the office or agency where such exchange occurs on (i) any Regular
Record Date and before the opening of business at such office or agency on the relevant Interest Payment Date, or (ii) any Special Record Date and before the opening of business at such office or agency on the related proposed date for payment of
interest or Defaulted Interest, as the case may be, such interest or Defaulted Interest will not be payable on such Interest Payment Date or proposed date for payment, as the case may be, in respect of such security in the form specified for such
series, but will be payable on such Interest Payment Date or proposed date for payment, as the case may be, only to the Person to whom interest in respect of such portion of such permanent global Security is payable in accordance with the provisions
of this Indenture. 
  
 All Securities issued upon any registration
of transfer or exchange of Securities shall be the valid obligation, of the Company, 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 Company or the Trustee) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed, by the Holder thereof
or his attorney duly authorized in writing. 
  
 Unless otherwise
provided in the Securities to be transferred or exchanged, no service charge shall be made for any registration of transfer or exchange of Securities, but the Company may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 3.4 above, 9.6 or 11.7 below not involving any transfer. 
  
 The Company 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 

  

 27 

 
redemption under Section 11.3 below and ending at the close of business on the day of such mailing, or (ii) to register the transfer of or exchange any
security so selected for redemption in whole or in part, except the unredeemed portion of any security being redeemed in part. 
  
 Section 3.6 Mutilated, Destroyed, Lost and Stolen Securities. 
  
 If any mutilated Security is surrendered to the Trustee, the Company 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 Company and the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any Security and (ii)
such security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a bona fide purchaser, the
Company shall execute 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. 
  
 In case any such mutilated,
destroyed, lost or stolen Security has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security. 
  
 Upon the issuance of any new Security under this Section 3.6, the Company may require the payment of a sum sufficient to
cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 
  
 Every new Security of any series issued pursuant to this Section 3.6 in lieu of any destroyed, lost or stolen Security shall
constitute an original additional contractual obligation of the Company, 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 under this Indenture. 
  
 The provisions of this Section 3.6 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 3.7
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 at the Place of Payment 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, except that at the option of the Company payment may be made (i) except in the case of a global Security by check mailed to the address of the Person entitled thereto
as such address appears in the Securities 

  

 28 

 
Register or (ii) by transfer to an account maintained by the Person entitled thereto as specified in the Securities Register provided that proper transfer
instructions have been received by the Regular Record Date. 
  
 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 (in this Indenture called “Defaulted Interest”) shall forthwith cease to be payable to the
Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (a) or (b) below: 
  
 (a) The Company may elect to make payment of any Defaulted
Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in
the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with
the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when
deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this Section 3.7. 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 ten days prior to the date of the proposed payment and not less than ten days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date
and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at
his address as it appears in the Security Register, not less than ten 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 (b). 
  
 (b) The Company may
make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by
such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this Section 3.7, such manner of payment shall be deemed practicable by the Trustee. 
  
 Subject to the foregoing provisions of this Section 3.7, 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. 
  

 29 

 Section 3.8 Persons Deemed Owners. 
  
 Prior to due presentment of a Security for registration of transfer, the Company, the Trustee and any agent of the Company
or the Trustee may treat the Person in whose name 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 3.7 above) interest on such Security and
for all other purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 
  
 None of the Company, the Trustee or any agent of the Company or the Trustee
shall have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interest of a Security in global form, or for maintaining, supervising or reviewing any records relating to such
beneficial ownership interest. Notwithstanding the foregoing, with respect to any Security in global form, nothing in this Indenture shall prevent the Company or the Trustee or any agent of the Company or the Trustee from giving effect to any
written certification, proxy or other authorization furnished by any U.S. Depositary or Common Depositary (or its nominee), as a Holder, with respect to such Security in global form or impair, as between such U.S. Depositary or Common Depositary and
owners of beneficial interests in such Security in global form, the operation of customary practices governing the exercise of the right of such U.S. Depositary or Common Depositary (or its nominee) as holder of such Security in global form.

  
 Section 3.9 Cancellation. 
  
 All Securities surrendered for payment, redemption, registration of transfer
or exchange or for credit against any sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for
cancellation any Securities previously authenticated and delivered under this Indenture which the Company may have acquired in any manner whatsoever, and all Securities so delivered shall be promptly cancelled by the Trustee. No Securities shall be
authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section 3.9, except as expressly permitted by this Indenture. All cancelled Securities shall be held by the Trustee and may be destroyed (and, if so destroyed,
certification of their destruction shall be delivered to the Company upon its request, unless, by a Company Order, the Company shall direct that cancelled Securities be returned to it). 
  
 Section 3.10 Computation of Interest. 
  
 Except as otherwise specified as contemplated by Section 3.1 above for Securities of any series, interest on the Securities of each series shall be
computed on the basis of a 360-day year consisting of twelve 30-day months. 
  

 30 

 ARTICLE IV 
  

SATISFACTION AND DISCHARGE 
  
 Section 4.1 Satisfaction and Discharge of Indenture. 
  
 This Indenture shall cease to be of further effect (except as to any surviving rights of registration of transfer or exchange of Securities in this
Indenture expressly provided for or in the form of Security for such series), when the Trustee, upon Company Request and at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when

  
 (a) all Securities heretofore 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 3.6 above and (ii) Securities for whose payment money has to this Indenture fore been deposited in trust or segregated
and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 10.8) have either: 
  
 (i) been delivered to the Trustee for cancellation; or 
  
 (ii) (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 Company, and the Company, in the case of (A),
(B) or (C) immediately preceding, has 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 to this Indenture fore delivered to the Trustee for
cancellation, 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 the Stated Maturity or Redemption Date, as the case may be; 
  
 (b) the Company has paid or caused to be paid all other sums payable under
this Indenture by the Company; and 
  
 (c) the Company has
delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent provided for in this Indenture relating to the satisfaction and discharge of this Indenture have been complied with.

  
 Notwithstanding the satisfaction and discharge of this
Indenture, the obligations of the Company to the Trustee under Section 6.7 below, the obligations of the Company to any Authenticating Agent under Section 6.14 below and, if money shall have been deposited with the Trustee pursuant to subclause (ii)
of clause (a) of this Section 4.1, the obligations of the Trustee under Section 4.2 below and the last paragraph of Section 10.8 below shall survive. 
  

 31 

 Section 4.2 Application of Trust Money. 
  
 Subject to the provisions of the last paragraph of Section 10.8 below, all money deposited with the Trustee pursuant to
Section 4.1 above shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as
the Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest for whose payment such money has been deposited with or received by the Trustee. 
  
 ARTICLE V 
  
 REMEDIES 
  
 Section 5.1 Events of Default. 
  
 “Event of Default,” wherever used in this Indenture 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 to 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): 
  
 (a) the Company defaults
in the payment of interest or any sinking fund payment on any Security of that series when such interest becomes due and payable and the default continues for a period of 30 days; provided, however, that if the Company is permitted by the terms of
the Securities of the applicable series to defer the payment in question, the date on which such payment is due and payable shall be the date on which the Company is required to make payment following such deferral, if such deferral has been elected
pursuant to the terms of the Securities; or 
  
 (b) the Company defaults in the payment of the principal of (or premium, if any, on) any Security of that series when the same becomes due and payable at Maturity, upon redemption (including redemptions under Article XI below), by
declaration or otherwise; provided, however, that if the Company is permitted by the terms of the Securities of the applicable series to defer the payment in question, the date on which such payment is due and payable shall be the date on which the
Company is required to make payment following such deferral, if such deferral has been elected pursuant to the terms of the Securities; or 
  
 (c) the Company fails to observe or perform any of its other covenants, warranties or agreements in the Securities of that series or in
this Indenture (other than a covenant, agreement or warranty a default in whose performance or whose breach is elsewhere in this Section 5.1 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 the failure to observe or perform continues for the period and after the notice specified in the last paragraph of this Section 5.1; or 
  
 (d) any event of default, as defined in any other indenture, mortgage, or instrument under which there may
be issued, or by which there may be secured or 

  

 32 

 
evidenced, any Indebtedness of the Company (whether such Indebtedness now exists or shall hereafter be created or incurred) shall occur and shall consist of
default in the payment of such Indebtedness at the maturity thereof (after giving effect to any applicable grace period) or shall result in Indebtedness becoming or being declared due and payable prior to the date on which it would otherwise become
due and payable, and such default in payment is not cured or such acceleration shall not be rescinded or annulled within 30 days after written notice to the Company from the Trustee or to the Company and to the Trustee from the Holders of at least
25% in aggregate principal amount of the Securities of that series at the time outstanding; provided that it shall not be an Event of Default if the principal amount of Indebtedness (other than Indebtedness represented by Securities issued pursuant
to this Indenture) which is not paid at maturity or the maturity of which is accelerated is less than or equal to $15 million provided further that if, prior to a declaration of acceleration of the maturity of the Securities of that series or the
entry of judgment in favor of the Trustee in a suit pursuant to Section 5.3 below, such default shall be remedied or cured by the Company or waived by the holders of such Indebtedness, then the Event of Default under this Indenture by reason thereof
shall be deemed likewise to have been thereupon remedied, cured or waived without further action upon the part of either the Trustee or any of the Holders of the Securities of that series, and provided further, that, subject to Sections 6.1 and 6.2
below, the Trustee shall not be charged with knowledge of any such default unless written notice of such default shall have been given to the Trustee by the Company, by a holder or an agent of a holder of any such Indebtedness, by the trustee then
acting under any indenture or other instrument under which such default shall have occurred, or by the Holders of at least five percent in aggregate principal amount of the Securities of that series at the time Outstanding; or 
  
 (e) the Company or any Significant Subsidiary pursuant to or
within the meaning of any Bankruptcy Law (A) commences a voluntary case or proceeding under any Bankruptcy Law with respect to itself, (B) consents to the entry of a judgment, decree or order for relief against it in an involuntary case or
proceeding under any Bankruptcy Law, (C) consents to or acquiesces in the institution of bankruptcy or insolvency proceedings against it, (D) applies for, consents to or acquiesces in the appointment of or taking possession by a Custodian or for any
material part of its property, (E) makes a general assignment for the benefit of its creditors or (F) takes any corporate action in furtherance of or to facilitate, conditionally or otherwise, any of the foregoing; or 
  
 (f) (i) a court of competent jurisdiction enters a judgment,
decree or order for relief in respect of the Company or any Significant Subsidiary in an involuntary case or proceeding under any Bankruptcy Law which shall (A) approve as properly filed a petition seeking reorganization, arrangement, adjustment or
composition in respect of the Company, (B) appoint a Custodian of the Company or any Significant Subsidiary or for any material part of its property, or (C) order the winding-up or liquidation of its affairs, and such judgment, decree or order shall
remain unstayed and in effect for a period of 60 consecutive days; or (ii) any bankruptcy or insolvency petition or application is filed, or any bankruptcy or insolvency proceeding is commenced against the Company or any Significant Subsidiary and
such petition, application or proceeding is not dismissed within 60 days; or (iii) a warrant of attachment is issued against any material portion of the property of the Company which is not released within 60 days of service; or 
  
 (g) any other Event of Default provided with respect to
Securities of that series. 
  

 33 

 A Default under clause (c) above is not an Event of Default until the Trustee or the Holders of at least
25% in aggregate principal amount of the Outstanding Securities of that series notify the Company of the Default and the Company does not cure the Default within 90 days after receipt of the notice. The notice must specify the Default, demand that
it be remedied and state that the notice is a “Notice of Default.” When a Default under clause (c) above is cured within such 90-day period, it ceases. 
  
 Section 5.2 Acceleration of Maturity; Rescission and Annulment. 
  
 If an Event of Default with respect to Securities of any series (other than an Event of Default specified in clause (e) or
(f) of Section 5.1 above) occurs and is continuing, the Trustee by notice in writing to the Company, or the Holders of at least 25% in aggregate principal amount of the Outstanding Securities of that series by notice in writing to the Company and
the Trustee, may declare the unpaid principal of, premium, if any, and accrued interest to the date of acceleration (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) on all the Outstanding Securities of that series to be due and payable immediately and, upon any such declaration, the Outstanding Securities of that series (or specified principal amount) shall become and be
immediately due and payable. 
  
 If an Event of Default specified
in clause (e) or (f) of Section 5.1 above occurs, all unpaid principal of, premium, if any, and accrued interest on the Outstanding Securities of that series (or specified principal amount) shall ipso facto become and be immediately due and payable
without any declaration or other act on the part of the Trustee or any Holder of any Security of that series. 
  
 Upon payment of all such principal, premium, if any, and interest, all of the Company’s obligations under the Securities of that series and (upon
payment of the Securities of all series) this Indenture shall terminate, except obligations under Section 6.7 below. 
  
 The Holders of a majority in principal amount of the Outstanding Securities of that series by notice to the Trustee may rescind an acceleration and its
consequences if (i) all existing Events of Default, other than the nonpayment of the principal, premium, if any, and interest of the Securities of that series that has become due solely by such declaration of acceleration, have been cured or waived,
(ii) to the extent the payment of such interest is lawful, interest on overdue installments of interest and overdue principal that has become due otherwise than by such declaration of acceleration have been paid, (iii) the rescission would not
conflict with any judgment or decree of a court of competent jurisdiction and (iv) all payments due to the Trustee and any predecessor Trustee under Section 6.7 below have been made. 
  
 Section 5.3 Collection of Indebtedness and Suits for Enforcement by Trustee. 
  
 The Company covenants that if: 
  
 (a) default is made in the payment of any interest on any
Security of any series when such interest becomes due and payable and such default continues for a period of 30 days, or 
  

 34 

 (b) default is made in the payment of the principal of (or premium, if any, on) any
Security of any series at the Maturity thereof, the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and premium, if any)
and interest 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 reasonable costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 
  
 If the Company 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 Company
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 Company 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 in this Indenture, or to secure any other proper remedy. 
  
 Section 5.4 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 Company or any other obligor upon the Securities or the property of the Company 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 in this Indenture expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the payment of
overdue principal or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise, 
  
 (a) to file and prove a claim for the whole amount of principal (and premium, if any) and interest owing and unpaid in respect of the
Securities and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agent
and counsel) and of the Holders allowed in such judicial proceedings, and 
  
 (b) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar
official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, 

  

 35 

 
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 6.7 below. 
  
 Nothing in this Indenture 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 to this Indenture or to authorize the Trustee to vote in respect of the claim of any Holder in any such
proceeding. 
  
 Section 5.5 Trustee May Enforce Claims Without Possession of
Securities. 
  
 All rights of action and claims under thereof
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 5.6 Application of Money Collected. 
  
 Any money collected by the Trustee pursuant to this Article V in respect of the Securities of any series 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 in respect of which moneys have been collected 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 6.7 below applicable to such series; 
  
 Second: To the
payment of the amounts then due and unpaid for principal of (and premium, if any) and interest on the Securities of such series 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 of such series for principal (and premium, if any) and interest, respectively; and 
  
 Third: To the Company. 
  
 The Trustee may fix a record date and payment date for any payment to Holders pursuant to this Section 5.6. At least 15 days before such record date, the
Trustee shall mail to each Holder and the Company a notice that states the record date, the payment date and the amount to be paid. 
  

 36 

 Section 5.7 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 under this Indenture, unless: 
  
 (a) such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of that
series; 
  
 (b) the Holders of not less than 25%
in principal amount of the Outstanding Securities of that series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee under this Indenture; 
  
 (c) 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; 
  
 (d) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding;
and 
  
 (e) 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 Holders of Securities of
any series 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 in this Indenture provided and for the equal and ratable benefit of all Holders of Securities of the affected series. 
  
 Section 5.8 Unconditional Right of Holders to Receive Principal, Premium and Interest.

  
 Notwithstanding any other provision in this Indenture, the
Holder of any Security shall have the right, which is absolute and unconditional, to receive payment of the principal of (and premium, if any) and (subject to Section 3.7 above) 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 to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder. 
  
 Section 5.9 Restoration of Rights and Remedies. 
  
 If the Trustee or any Holder has instituted any proceeding to enforce any
right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such
proceeding, the Company, the Trustee and the Holders shall be restored severally and respectively to their former positions under 

  

 37 

 
this Indenture and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding has been instituted.

  
 Section 5.10 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 3.6 above, no right or remedy in this Indenture 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 under this Indenture or now or hereafter existing at law or in equity or otherwise. The assertion or employment of
any right or remedy under this Indenture, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 
  
 Section 5.11 Delay or Omission Not Waiver. 
  
 No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any Event of Default shall impair any
such right or remedy or constitute a waiver of any such Event of Default or an acquiescence in this Indenture. 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 5.12 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: 
  
 (a) such direction shall not be in conflict with any rule of law or with this Indenture; 
  
 (b) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction; and 
  
 (c) subject to Section 6.1 below, the Trustee need not take
any action which might involve the Trustee in personal liability or be unduly prejudicial to the Holders not joining in this Indenture. 
  
 Section 5.13 Waiver of Past Defaults. 
  
 (a) The Holders of not less than a majority in principal amount of the Outstanding Securities of any series may by written notice to the
Trustee on behalf of the Holders of all the Securities of such series waive any Default or Event of Default with respect to such series and its consequences, except a Default or Event of Default (i) in respect of the payment of the principal of (or
premium, if any) or interest on any Security of such series, (ii) or in respect of a covenant or other provision of this Indenture which under 

  

 38 

 
Article IX cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series affected. 
  
 (b) Upon any such waiver, such Default or Event of Default
shall cease to exist and shall be deemed to have been cured, for every purpose of this Indenture and the Securities of such series; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent
thereon. 
  
 Section 5.14 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 5.14 shall not apply to any suit instituted by the Company, 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). 
  
 ARTICLE VI 
  
 THE TRUSTEE 
  
 Section 6.1 Certain Duties and Responsibilities of the Trustee. 
  
 (a) Except during the continuance of an Event of Default,
the Trustee’s duties and responsibilities under this Indenture shall be governed by Section 315(a) of the Trust Indenture Act. 
  
 (b) In case an Event of Default has occurred and is continuing, and is known to the Trustee, the Trustee shall exercise the rights and
powers vested in it by this Indenture, and shall 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) None of the provisions of Section 315(d) of the Trust
Indenture Act shall be excluded from this Indenture. 
  
 Section 6.2 Notice of
Defaults. 
  
 Within 30 days after the occurrence of any
Default or Event of Default with respect to the Securities of any series, the Trustee shall give to all Holders of Securities of such series, as their names and addresses appear in the Security Register, notice of such Default 

  

 39 

 
or Event of Default known to the Trustee, unless such Default or Event of Default shall have been cured or waived; provided, however, that, except in the
case of a Default or Event of 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 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 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. 
  
 Section 6.3 Certain Rights of
Trustee. 
  
 Subject to the provisions of the Trust Indenture
Act: 
  
 (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 Company mentioned in this Indenture shall be sufficiently evidenced by a Company Request or Company
Order 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 under this Indenture, the Trustee (unless other evidence be in this Indenture specifically prescribed) may, in the absence of bad faith on its part, rely upon an Officer’s Certificate; 
  
 (d) the Trustee may consult with counsel and the written
advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it under this Indenture 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 security or indemnity to its reasonable satisfaction against
the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction; 
  
 (f) prior to the occurrence of an Event of Default with respect to the Securities of any series and after the curing or waiving of all
such Events of Default which may have occurred, 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, approval or other paper or document, or the books and records of the Company, unless requested in writing to do so by the Holders of a majority in principal amount of the Outstanding Securities of any series; provided, however, that if the
payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is not, in the 

  

 40 

 
opinion of the Trustee, reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require reasonable
indemnity against such costs, expenses or liabilities as a condition to so proceeding; the reasonable expense of every such investigation shall be paid by the Company or, if paid by the Trustee, shall be repaid by the Company upon demand;

  
 (g) the Trustee may execute any of the trusts
or powers under this Indenture or perform any duties under this Indenture 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 under this Indenture; and 
  
 (h) the Trustee shall not be required to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties under this Indenture, or in the exercise 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. 
  
 Section 6.4 Not Responsible for Recitals or Issuance of Securities. 
  
 The recitals in this Indenture and in the Securities, except the Trustee’s certificates of authentication, shall be taken as the statements of the
Company, and the Trustee or any Authenticating Agent assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities. Neither the Trustee nor any
Authenticating Agent shall be accountable for the use or application by the Company of Securities or the proceeds thereof. 
  
 Section 6.5 May Hold Securities. 
  
 The Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any other agent of the Company, in its individual or any other
capacity, may become the owner or pledgee of Securities and, subject to Sections 6.8 and 6.13 below, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, Security
Registrar or such other agent. 
  
 Section 6.6 Money Held in Trust.

  
 Money held by the Trustee in trust under this Indenture
(including amounts held by the Trustee as Paying Agent) 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 under this Indenture except as
otherwise agreed upon in writing with the Company. 
  
 Section 6.7 Compensation
and Reimbursement. 
  
 The Company agrees: 
  
 (a) to pay to the Trustee from time to time reasonable
compensation for all services rendered by it under this Indenture (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 
  

 41 

 (b) except as otherwise expressly provided in this Indenture, 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 
  
 (c) to indemnify the Trustee for, and to hold it harmless against, any loss, liability, damage, claim or expense, including taxes (other
than taxes based upon or determined or measured by the income of the Trustee), incurred without gross negligence or bad faith on its part, arising out of or in connection with the acceptance or administration of the trust or trusts under this
Indenture, including the costs and expenses of defending itself against any claim or liability in connection with the exercise or performance of any of its powers or duties under this Indenture. 
  
 When the Trustee incurs expenses or renders services in connection with an
Event of Default specified in Section 5.1(e) above or Section 5.1(f) above, the expenses (including the reasonable charges and expenses of its counsel) and the compensation for the services are intended to constitute expenses of administration under
any applicable federal or state bankruptcy, insolvency or other similar law. 
  
 The provisions of this Section 6.7 shall survive this Indenture and the resignation or removal of any Trustee under this Indenture. 
  
 Section 6.8 Disqualification; Conflicting Interests. 
  
 The Trustee shall be disqualified only where such disqualification is required by Section 310(b) of the Trust Indenture Act.
Nothing 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 6.9 Corporate Trustee Required; Eligibility. 
  
 There shall at all times be a Trustee under this Indenture which shall be eligible to act as Trustee under Section 310(a)(1)
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. 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 6.9, 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. Neither the Company nor any Person directly or indirectly controlling, controlled by, or under common control with the Company may serve as Trustee. If at any time the Trustee shall cease to be eligible in
accordance with the provisions of this Section 6.9, it shall resign immediately in the manner and with the effect hereinafter specified in this Article VI. 
  

 42 

 Section 6.10 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 VI shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 6.11 below. 
  
 (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 Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 below shall not have been delivered to the Trustee within 30 days after the giving of
such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 
  
 (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 Company. 
  
 (d) If at any time: 
  
 (i) the Trustee shall fail to comply with Section 310(b) of the Trust Indenture Act after written request
therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months; or 
  
 (ii) the Trustee shall cease to be eligible under Section 6.9 above and shall fail to resign after written request here for by the Company
or by any such Holder of a Security who has been a bona fide Holder of a Security for at least six months; or 
  
 (iii) 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 Company by a Board Resolution may remove the Trustee with respect to all Securities, or (ii) subject to
Section 315(e) of the Trust Indenture Act, 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 Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such
successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable
requirements of Section 6.11 below. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect 

  

 43 

 
to the Securities of any series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series
delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.11 below, become the successor Trustee with
respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company with respect to such Securities. If no successor Trustee with respect to the Securities of any series shall have been so appointed
by the Company or the Holders and accepted appointment in the manner required by Section 6.11 below, 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 Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and
each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, 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 6.11 Acceptance of Appointment by Successor or Additional Trustees. 
  
 (a) In case of the appointment under this Indenture of a
successor Trustee with respect to all Securities, every such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or
removal of the retiring Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the
Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign,
transfer and deliver to such successor Trustee all property and money held by such retiring Trustee under this Indenture. 
  
 (b) In case of the appointment under this Indenture of a Trustee or a successor with respect to the Securities of one or more (but not
all) series, the Company, any retiring Trustee and each Trustee or a successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto under which each Trustee or a 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 Trustee or a successor Trustee all the rights, powers, trusts and duties of any retiring
Trustee with respect to the Securities of that or those series to which the appointment of such Trustee or a successor Trustee relates, (2) if any 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 any retiring Trustee with respect to the Securities of that or those series as to which any retiring Trustee is not retiring shall continue to be
vested in any retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to 

  

 44 

 
provide for or facilitate the administration of the trusts under this Indenture by more than one Trustee, it being understood that nothing in this Indenture
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 under this Indenture separate and apart from any trust or trusts under this Indenture
administered by any other such Trustee; and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided in this Indenture and each such Trustee or a
successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of any retiring Trustee with respect to the Securities of that or those series to which the appointment of such
Trustee or a successor Trustee relates; but, on request of the Company or any Trustee or a successor Trustee, any such retiring Trustee shall duly assign, transfer and deliver to such Trustee or a successor Trustee all property and money held by any
such retiring Trustee under this Indenture with respect to the Securities of that or those series to which the appointment of any such Trustee or successor Trustee relates. 
  
 (c) Upon request of any such successor Trustee, the Company shall execute any and all instruments for more
fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section 6.11, 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 the Trust Indenture Act. 
  
 Section
6.12 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 under this Indenture, provided such corporation shall be otherwise qualified and eligible under this Article
VI, without the execution or filing of any paper or any further act on the part of any of the parties to this Indenture . 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 6.13 Preferential Collection of Claims Against Company. 
  
 The Trustee shall comply with 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 in this Indenture. 

 

 45 

 Section 6.14 Appointment of Authenticating Agent. 
  
 At any time when any of the Securities remain Outstanding the Trustee may appoint an Authenticating Agent or Agents with
respect to one or more series of Securities which shall be authorized to act on behalf of, and subject to the direction of, the Trustee to authenticate Securities of such series issued upon exchange, registration of transfer or partial redemption
thereof or pursuant to Section 3.6 above, and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee under this Indenture. Wherever
reference is made in this Indenture to the authentication and delivery of Securities by the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee
by an Authenticating Agent and a certificate of authentication executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be acceptable to the Company and shall at all times be a corporation organized and doing
business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to act as Authenticating Agent, having a combined capital and surplus of not less than $5,000,000 and subject to
supervision or examination by federal or State authority. If such Authenticating Agent publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this
Section 6.14, the combined capital and surplus of such Authenticating Agent shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease
to be eligible in accordance with the provisions of this Section 6.14, such Authenticating Agent shall resign immediately in the manner and with the effect specified in this Section 6.14. 
  
 Any corporation into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any
corporation resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to the corporate agency or corporate trust business of an Authenticating Agent, shall continue to
be an Authenticating Agent, provided such corporation shall be otherwise eligible under this Section 6.14, without the execution or filing of any paper or any further act on the part of the Trustee or the Authenticating Agent. 
  
 An Authenticating Agent may resign at any time by giving written notice
thereof to the Trustee and to the Company. The Trustee may at any time terminate the agency of an Authenticating Agent by giving written notice to this Indenture to such Authenticating Agent and to the Company. Upon receiving such a notice of
resignation or upon such a termination, or in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section 6.14, the Trustee may appoint a successor Authenticating Agent which shall be
acceptable to the Company and shall mail written notice of such appointment by first-class mail, postage prepaid, to all Holders of Securities of the series with respect to which such Authenticating Agent will serve, as their names and addresses
appear in the Security Register. Any successor Authenticating Agent upon acceptance of its appointment under this Indenture shall become vested with all the rights, powers and duties of its predecessor under this Indenture, with like effect as if
originally 

  

 46 

 
named as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section 6.14. 

 
 The Company agrees to pay to each Authenticating Agent from time to time
reasonable compensation for its services under this Section 6.14. 
  
 If an appointment with respect to one or more series is made pursuant to this Section 6.14, the Securities of such series may have endorsed thereon, in lieu of the Trustee’s certificate of authentication, an alternate certificate of
authentication in the following form: 
  
 Form of Authenticating
Agent’s Certificate of Authentication 
 Dated:
                                        
             
  
 This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 
  

			
	 
	 As Trustee

		
	By:	 	 
	 	 	 As Authenticating Agent

		
	By:	 	 
	 	 	 Authorized Signatory

  
 ARTICLE VII

  
 HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

  
 Section 7.1 Company to Furnish Trustee Names and Addresses of
Holders. 
  
 The Company will furnish or cause to be furnished
to the Trustee: 
  
 (a) semi-annually, not later
than                      and
                     in each year, a list, in such form as the Trustee may reasonably require, of the names and addresses of the Holders as of
the preceding                      or
                    , 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 Company of any such request, a list
of similar form and content as of a date not more than 15 days prior to the time such list is furnished; provided, however, that so long as the Trustee is the Security Registrar, no such list shall be required to be furnished. 
  

 47 

 Section 7.2 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 7.1 above 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 7.1 above upon receipt of a new list so furnished. 
  
 (b) If three or more Holders (in this Indenture referred to as “applicants”) apply in writing to the Trustee, and furnish to the
Trustee reasonable proof that each such applicant has owned a Security for a period of at least six months preceding the date of such application, and such application states that the applicants desire to communicate with other Holders with respect
to their rights under this Indenture or under the Securities and is accompanied by a copy of the form of proxy or other communication which such applicants propose to transmit then the Trustee shall, within five Business Days after the receipt of
such application, at its election, either 
  
 (i)
afford such applicants access to the information preserved at the time by the Trustee in accordance with Section 7.2(a) above; or 
  
 (ii) inform such applicants as to the approximate number of Holders whose names and addresses appear in the information preserved at the
time by the Trustee in accordance with Section 7.2(a) above, and as to the approximate cost of mailing to such Holders the form of proxy or other communication, if any, specified in such application. 
  
 If the Trustee shall elect not to afford such applicants access to such
information, the Trustee shall, upon the written request of such applicants, mail to each Holder whose name and address appears in the information preserved at the time by the Trustee in accordance with Section 7.2(a) above a copy of the form of
proxy or other communication which is specified in such request, with reasonable promptness after a tender to the Trustee of the material to be mailed and of payment, or provision for the payment, of the reasonable expenses of mailing, unless within
five days after such tender the Trustee shall mail to such applicants and file with the Commission, together with a copy of the material to be mailed, a written statement to the effect that, in the opinion of the Trustee, such mailing would be
contrary to the best interest of the Holders or would be in violation of applicable law. Such written statement shall specify the basis of such opinion. If the Commission, after opportunity for a hearing upon the objections specified in the written
statement so filed, shall enter an order refusing to sustain any of such objections or if, after the entry of an order sustaining one or more of such objections, the Commission shall find, after notice and opportunity for hearing, that all
objections so sustained have been met and shall enter an order so declaring, the Trustee shall mail copies of such material to all such Holders with reasonable promptness after the entry of such order and the renewal of such tender; otherwise the
Trustee shall be relieved of any obligation or duty to such applicants respecting their application. 
  
 (c) Every Holder of Securities, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor
the Trustee nor any agent of either of them shall be held accountable by reason of the disclosure of any such 

  

 48 

 
information as to the names and addresses of the Holders in accordance with Section 7.2(b) above, regardless of the source from which such information was
derived, and that the Trustee shall not be held accountable by reason of mailing any material pursuant to a request made under Section 7.2(b) above. 
  
 Section 7.3 Reports by Trustee. 
  
 (a) Within 60 days after
                     of each year commencing with the year         , the Trustee shall transmit
by mail to all Holders of Securities as provided in Section 313(c) of the Trust Indenture Act, a brief report dated as of
                    , if required by and in compliance with Section 313(a) of the Trust Indenture Act. 
  
 (b) A copy of each such report shall, at the time of such
transmission to Holders, be filed by the Trustee with each stock exchange upon which any Securities are listed, with the Commission and with the Company. The Company will notify the Trustee when any Securities are listed on any stock exchange.

  
 Section 7.4 Reports by Company. 
  
 The Company shall: 
  
 (a) file with the Trustee, within 30 days after the Company
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 Company may be required to file with the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; or, if the Company 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 Exchange Act 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; 
  
 (b) 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 Company with the conditions and covenants of this Indenture as may be required from time to time by such rules and regulations; and

  
 (c) furnish to the Trustee, on or before
                     of each year, a brief certificate from the principal executive officer, principal financial officer or principal
accounting officer as to his or her knowledge of the Company’s compliance with all conditions and covenants under this Indenture. For purposes of this paragraph, such compliance shall be determined without regard to any period of grace or
requirement of notice provided under this Indenture. Such certificate need not comply with Section 1.2 above. 
  

 49 

 ARTICLE VIII 
  
 CONSOLIDATION, MERGER, LEASE, SALE OR TRANSFER 
  
 Section 8.1 When Company May Merge, Etc. 
  
 The Company shall not consolidate, or merge with or into any other corporation (whether or not the Company shall be the surviving corporation), or sell,
assign, transfer or lease or otherwise dispose of all or substantially all of its properties and assets as an entirety or substantially as an entirety to any Person or group of affiliated Persons, in one transaction or a series of related
transactions, unless: 
  
 (a) either the Company
shall be the continuing Person or the Person (if other than the Company) formed by such consolidation or with which or into which the Company is merged or the Person (or group of affiliated Persons) to which all or substantially all the properties
and assets of the Company as an entirety or substantially as an entirety are sold, assigned, transferred or leased shall be a corporation, partnership or trust or other entity organized and existing under the laws of the United States of America or
any State thereof or
the                                       
              and shall expressly assume, by an indenture supplemental to this Indenture, executed and delivered to the Trustee, in form satisfactory to the Trustee, all the
obligations of the Company under the Securities and this Indenture; and 
  
 (b) immediately before and after giving effect to such transaction or series of related transactions, no Event of Default, and no Default, and no event which, after notice or lapse of time or both, would become and
Event of Default, shall have occurred and be continuing. 
  
 Section 8.2
Opinion of Counsel. 
  
 The Company shall deliver to the
Trustee prior to the proposed transaction(s) covered by Section 8.1 above an Officer’s Certificate and an Opinion of Counsel stating that the transaction(s) and such supplemental indenture comply with this Indenture and that all conditions
precedent to the consummation of the transaction(s) under this Indenture have been met. 
  
 Section 8.3 Successor Corporation Substituted. 
  
 Upon any consolidation by the Company with or merger by the Company into an other corporation or any lease, sale, assignment, or transfer of all or substantially all of the property and assets of the Company in accordance with Section 8.1
above, the successor corporation formed by such consolidation or into which the Company is merged or the successor corporation or affiliated group of corporations to which such lease, sale, assignment, or transfer is made shall succeed to, and be
substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor corporation or corporations had been named as the Company in this Indenture, and thereafter, except in the case of
a lease, the predecessor corporation or corporations shall be relieved of all obligations and covenants under this Indenture and the Securities 

  

 50 

 
and in the event of such conveyance or transfer, except in the case of a lease, any such predecessor corporation may be dissolved and liquidated. 

 
 ARTICLE IX 
  
 SUPPLEMENTAL INDENTURES 
  
 Section 9.1 Supplemental Indentures Without Consent of Holders. 
  
 Without notice to or the consent of any Holders of a series of Securities,
the Company, 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 to this Indenture, in form satisfactory to the Trustee, for any of the following purposes:

  
 (a) to evidence the succession of another
corporation to the Company and the assumption by any such successor of the covenants of the Company in this Indenture and in the Securities; or 
  
 (b) to add to the covenants of the Company for the benefit of the Holders of all or any series of Securities (and if such covenants are to
be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for the benefit of series) or to surrender any right or power in this Indenture conferred upon the Company; or 
  
 (c) to add any additional Events of Default with respect to
all or any series of Securities; or 
  
 (d) to
add 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

  
 (e) 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 
  
 (f) to secure the
Securities; or 
  
 (g) to establish the form or
terms of Securities of any series as permitted by Sections 2.1 and 3.1 above; or 
  
 (h) to evidence and provide for the acceptance of appointment under this Indenture by a Trustee or 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 under this Indenture by more than one Trustee, pursuant to the
requirements of Section 6.11(b) above; or 
  
 (i)
to cure any ambiguity, defect or inconsistency or to correct or supplement any provision in this Indenture which may be inconsistent with any other 

  

 51 

 
provision in this Indenture, provided that no such action shall adversely affect the interests of the Holders of any affected series of securities in any
material respects; or 
  
 (j) to make any change
that does not materially adversely affect the interests of the Holders of Securities of such series; or 
  
 (k) to qualify, or maintain the qualification of the Indenture under the Trust Indenture Act. 
  
 Upon request of the Company, accompanied by a Board Resolution authorizing
the execution of any such supplemental indenture, and upon receipt by the Trustee of the documents described in (and subject to the last sentence of) Section 9.3 below, the Trustee shall join with the Company in the execution of any supplemental
indenture authorized or permitted by the terms of this Indenture. 
  
 Section 9.2
Supplemental Indentures with Consent of Holders. 
  
 With
the written consent of the Holders of a majority in principal amount of the Outstanding Securities of each series affected by such supplemental indenture, by Act of said Holders delivered to the Company and the Trustee, the Company, when authorized
by a Board Resolution, and the Trustee shall, subject to Section 9.3 below, enter into an indenture or indentures supplemental to this Indenture for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of this Indenture or of modifying in any manner the rights of the Holders of Securities of such series under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the Holder of each
Outstanding security affected thereby, 
  
 (a)
change the Stated Maturity of the principal of, or any installment of principal of or interest on, any security, or reduce the principal amount hereof or the rate of interest thereon or any premium payable upon the redemption thereof or extend the
time for payment thereon, 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 5.2 above, or change any Place of
Payment where, or the coin or currency in which, any security or any premium or the interest thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated thereof (or, in the case of
redemption, on or after the Redemption Date); 
  
 (b) 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 Defaults or Events of Default under this Indenture and their consequences provided for in this Indenture; or 
  
 (c) change the redemption provisions (including Article XI below) of this Indenture in a manner adverse to
such Holder; or 
  
 (d) modify any of the
provisions of this Section 9.2 or Section 5.13 above, 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 

  

 52 

 
Outstanding Security affected thereby; provided, however, that this clause shall not be deemed to require the consent of any Holder with respect to changes
in the references to “the Trustee” and concomitant changes in this Section 9.2, or the deletion of this proviso, in accordance with the requirements of Sections 6.11(b) and 9.1(h) above. 
  
 A supplemental indenture which changes or eliminates any covenant or other
provisions of this Indenture which has expressly been included solely for the benefit of one or more particular series of Securities, or which modifies the rights of the Holders of Securities of such series with respect to such covenant or other
provision, shall be deemed not to affect the rights under this Indenture of the Holders of Securities of any other series. 
  
 It shall not be necessary for any Act of Holders under this Section 9.2 to approve the particular form of any proposed supplemental indenture, but it
shall be sufficient if such Act shall approve the substance thereof. 
  
 Section
9.3 Execution of Supplemental Indentures. 
  
 The Trustee
shall sign any supplemental indenture authorized pursuant to this Article, subject to the last sentence of this Section 9.3. In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the
modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 6.1 above) shall be fully protected in relying upon, an Officer’s Certificate and an Opinion of Counsel stating
that the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or
immunities under this Indenture or otherwise. 
  
 Section 9.4 Effect of
Supplemental Indentures. 
  
 Upon the execution of any
supplemental indenture under this Article IX, 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 under this Indenture shall be bound thereby. 
  
 Section 9.5 Conformity with Trust Indenture Act. 
  
 Every supplemental indenture executed pursuant to this Article IX shall conform to the requirements of the Trust Indenture Act as then in effect. 
  
 Section 9.6 Reference in Securities to Supplemental Indentures. 
  
 Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article IX may, and shall if
required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of any series so modified as to conform, in the opinion of the
Trustee and the Company, to any such supplemental indenture may be prepared and executed by the Company and 

  

 53 

 
authenticate and delivered by the Trustee in exchange for Outstanding Securities of such series. 
  
 ARTICLE X 
  
 COVENANTS 
  
 Section 10.1 Payments of Securities. 
  
 With respect to each series of Securities, the Company will duly and punctually pay the principal of (and premium, if any) and interest on such Securities
in accordance with their terms and this Indenture, and will duly comply with all the other terms, agreements and conditions contained in, or made in the Indenture for the benefit of, the Securities of such series. 
  
 Section 10.2 Maintenance of Office or Agency. 
  
 The Company will maintain an office or agency in each Place of Payment where
Securities may be surrendered for registration of transfer or exchange or for presentation for payment, where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. The Company will give prompt
written notice to the Trustee of the location, and any change in location, of such office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof,
such presentations, surrenders, notices and demands may be made or served at the address of the Trustee as set forth in Section 1.5 above. 
  
 The Company may also from time to time designate one or more other offices or agencies where the Securities may be presented or surrendered for any or all
such purposes and may from time to time rescind such designations. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. 
  
 Unless otherwise set forth in, or pursuant to, a Board Resolution or
indenture supplemental to this Indenture with respect to a series of Securities, the Company hereby initially designates the Corporate Trust Office as such office of the Company. 
  
 Section 10.3 Corporate Existence. 
  
 Subject to Article VIII above, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its corporate
existence and that of each of its Subsidiaries and the rights (charter and statutory) of the Company and its Subsidiaries; provided, however, that (a) the Company shall not be required to preserve any such right, license or franchise or the
corporate existence of any of its Subsidiaries if the Board of Directors, or the board of directors of the Subsidiary concerned, as the case may be, shall determine that the preservation thereof is no longer desirable in the conduct of the business
of the Company or any of its Subsidiaries and that the loss thereof is not materially disadvantageous to the Holders, and (b) nothing contained in this Indenture shall prevent any Subsidiary of the Company from liquidating or dissolving, or merging

  

 54 

 
into, or consolidating with the Company (provided that the Company shall be the continuing or surviving corporation) or with any one or more Subsidiaries if
the Board of Directors or the board of directors of the Subsidiary concerned, as the case may be, shall so determine. 
  
 Section 10.4 Payment of Taxes and Other Claims. 
  
 The Company will pay or discharge, or cause to be paid or discharged, before the same shall become delinquent, (1) all material taxes, assessments and
governmental charges levied or imposed upon the Company or any Subsidiary or upon the income, profits or property of the Company or any Subsidiary material to the Company and its Subsidiaries taken as a whole, and (2) all lawful claims for labor,
materials and supplies which, if unpaid, might by law become a material lien upon the property of the Company or any Subsidiary material to the Company and its Subsidiaries taken as a whole; provided, however, that the Company shall not be required
to pay or discharge or cause to be paid or discharged any such tax, assessment, charge or claim whose amount, applicability or validity is being contested in good faith by appropriate proceedings and for which adequate provision has been made.

  
 Section 10.5 Compliance Certificates. 
  
 (a) The Company shall deliver to the Trustee, within ten
days after the occurrence thereof, notice of any acceleration which with the giving of notice and the lapse of time would be an Event of Default within the meaning of Section 5.1(d) above. 
  
 (b) The Company shall deliver to the Trustee forthwith upon
becoming aware of a Default or Event of Default (but in no event later than ten days after the occurrence of each Default or Event of Default that is continuing), an Officer’s Certificate setting forth the details of such Default or Event of
Default and the action that the Company proposes to take with respect thereto and the specific section or sections of this Indenture in connection with which such Default or Event of Default has occurred. 
  
 Section 10.6 Commission Reports. 
  
 (a) So long as the Securities remain Outstanding, the
Company shall cause its annual report to shareholders and any other financial reports furnished by it to shareholders generally, to be mailed to the Holders at their addresses appearing in the Security Register maintained by the Security Registrar
in each case at the time of such mailing or furnishing to shareholders. If the Company is not required to furnish annual reports to its shareholders pursuant to the Exchange Act, the Company shall cause its financial statements, including any notes
thereto and, with respect to annual reports, an auditors’ report by an accounting firm of established national reputation and a “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” to be so
filed with the Trustee and mailed to the Holders within 90 days after the end of each of the Company’s fiscal years and within 45 days after the end of each of the first three quarters of each fiscal year. 
  

 55 

 (b) The Company shall provide the Trustee with a sufficient number of copies of all
reports and other documents and information that the Company may be required to deliver to the Holders under this Section 10.6. 
  
 Section 10.7 Waiver of Stay, Extension or Usury Laws. 
  
 The Company 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,
and will actively resist any and all efforts to be compelled to take the benefit or advantage of, any stay or extension law or any usury law or other law, which would prohibit or forgive the Company from paying all or any portion of the principal of
and/or interest on the Securities as contemplated in this Indenture, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Indenture; and (to the extent that it may lawfully do so) the
Company 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 in this Indenture granted to the Trustee, but will suffer and permit the execution of every
such power as though no such law had been enacted. 
  
 Section 10.8 Money for
Securities Payments to Be Held in Trust. 
  
 If the Company
shall at any time act as its own Paying Agent with respect to any series of Securities, it will, on or before each due date of the principal of (and premium, if any) or interest on any of the Securities of that series, segregate and hold in trust
for the benefit of the Persons entitled thereto a sum sufficient to pay the principal (and premium, if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as in this Indenture provided and will
promptly notify the Trustee of its action or failure so to act. 
  
 Whenever the Company shall have one or more Paying Agents for any series of Securities, it will, prior to 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 so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless such Paying Agent is the Trustee) the
Company will promptly notify the Trustee of its action or failure to so act. 
  
 The Company will cause each Paying Agent for any series of Securities (other than the Trustee) to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to
the provisions of this Section 10.8, that such Paying Agent will: 
  
 (a) hold all sums held by it for the payment of the principal of (and premium, if any) or interest on 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 in this Indenture provided; 
  
 (b) give the Trustee notice of any default by the Company (or any other obligor upon the Securities of that series) in the making of any payment of principal (and premium, if any) or interest on the Securities of that
series; and 
  

 56 

 (c) 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 Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums
held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such
Paying Agent shall be released from all further liability with respect to such money. 
  
 Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of (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 Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such
security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, shall thereupon cease; provided, however, that the
Trustee of such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general
circulation in                     ,
                    , notice that such money remains unclaimed and that, after a date specified in this Indenture, which shall not be less
than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company. 
  
 Section 10.9 Limitation on Liens. 
  
 Except as in this Section 10.9 expressly permitted, so long as any of the Securities shall be outstanding, the Company will not at any time directly or
indirectly create, incur, assume or suffer to exist, and will not suffer or permit any Significant Subsidiary to create, incur, assume or suffer to exist, except in favor of the Company or another Significant Subsidiary, any mortgage, pledge or
other lien or encumbrance (a “Mortgage”) of or upon any of its assets or any shares of capital stock or indebtedness of any Significant Subsidiary, whether owned at the date of this Indenture or hereafter acquired, or of or upon any income
or profits therefrom, if after giving effect thereto (but not to any Mortgages described in clauses (a) through (j) below) the aggregate principal amount of indebtedness secured by Mortgages upon the property of the Company and its Significant
Subsidiaries shall be in excess of fifteen percent (15%) of Consolidated Net Worth, without making effective provision (and the Company covenants that in any such case it will make or cause to be made effective provision) whereby all Securities then
outstanding will be secured by such Mortgage equally and ratably with (or prior to) any and all obligations, indebtedness or claims secured by such Mortgage, so long as any such other obligations, indebtedness or claims shall be so secured.

  
 Notwithstanding the foregoing, Mortgages existing on the date
a series of Securities is first issued under this Indenture shall be permitted, and shall not be a basis for any 

  

 57 

 
default or Event of Default, as to that series. In addition, nothing in this Section 10.9 shall be construed to prevent the Company or any Significant
Subsidiary, without so securing the Securities, from creating, assuming or suffering to exist the following Mortgages: 
  
 (a) (i) Any purchase money mortgage or other purchase money lien on any property hereafter acquired, including conditional sales and other
title retention agreements; or (B) any Mortgage on property hereafter acquired, constructed or improved created as security for moneys borrowed (at the time of or within 360 days after the purchase, construction or improvement of such property) to
provide funds for the purchase, construction or improvement of such property, or (C) any Mortgage on any property hereafter acquired which exists at the time of the acquisition thereof and which was not created in connection with or in contemplation
of such acquisition; provided in each case that (x) such Mortgage is limited to such acquired property (and accretions thereto) or, in the case of construction or improvements, any theretofore unimproved real property, and (y) the aggregate amount
of the obligations, indebtedness or claims secured by such Mortgage does not exceed the cost to the Company or such Significant Subsidiary of such acquired property or the value thereof at the time of acquisition, as determined by the Board of
Directors, whichever be the lower; or (ii) any Mortgage to which property hereafter acquired shall be subject at the time of acquisition, if the payment of the indebtedness secured thereby or interest thereon will not become, by assumption or
otherwise, a personal obligation of the Company or a Significant Subsidiary; 
  
 (b) the following Mortgages, if not overdue or are being contested in good faith in appropriate proceedings: mechanics’, materialmen’s, carriers’ or other like liens, and pledges or deposits made in the
ordinary course of business to obtain the release of any such liens or the release of property in the possession of a common carrier; good faith deposits in connection with tenders, leases of real estate or bids or contracts (other than contracts
for the borrowing of money); pledges or deposits to secure public or statutory obligations; deposits to secure (or in lieu of) surety, stay, appeal or customs bonds; and deposits to secure the payment of taxes, assessments, customs duties or other
similar charges; 
  
 (c) Mortgages of any Person
existing at the time such Person becomes a Significant Subsidiary or obligor under this Indenture and that are not incurred in contemplation of either such event; 
  
 (d) Mortgages in favor of the Company or a Significant Subsidiary by a Significant Subsidiary; 

 
 (e) rights of set-off over deposits of the Company or a
Significant Subsidiary held by financial institutions; 
  
 (f) any Mortgage arising by reason of deposits with, or the giving of any form of security to, any governmental agency or any body created or approved by law or governmental regulation, which is required by law or governmental regulation as
a condition to the transaction of any business, or the exercise of any privilege or license, 
  
 (g) any Mortgage to enable the Company or a Significant Subsidiary to maintain self-insurance or to participate in any arrangements
established by law to cover 

  

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any insurance risks or in connection with workers’ compensation, unemployment insurance, old age pensions, social security or similar matters;

  
 (h) the liens of taxes or assessments not at
the time due, or the liens of taxes or assessments already due but the validity of which is being contested in good faith and against which adequate reserves have been established; 
  
 (i) judgment liens, appeal or stay bonds or deposits and other Mortgages incurred in connection with
litigation being contested in good faith; 
  
 (j)
any Mortgage incidental to the normal conduct of the business of the Company or any Significant Subsidiary or the ownership of their properties or assets and that are not incurred in connection with the borrowing of money; and 
  
 (k) any Mortgage created in connection with the refunding,
renewal or extension of any obligations, indebtedness or claims secured by a Mortgage mentioned in the foregoing clauses (a) through (f) which is limited to the same property; provided that the aggregate amount of the obligations, indebtedness or
claims secured by such refunding, renewal or extended Mortgage does not exceed the aggregate amount thereof secured by the Mortgage so refunded, renewed or extended and outstanding at the time of such refunding, renewal or extension. 
  
 Section 10.10 Limitation on Sales and Leasebacks. 
  
 So long as any of the Securities shall be outstanding, the Company will not,
and will not permit any Significant Subsidiary to, sell or transfer (other than to the Company or a Significant Subsidiary) any of its property, whether owned at the date of this Indenture or hereafter acquired, which has been in full operation for
more than 120 days prior to such sale or transfer, with the intention of entering into a lease of such property (except for a lease for a term, including any renewal thereof, of not more than three years). 
  
 Notwithstanding the foregoing, the Company or any Significant Subsidiary may
sell any property and lease it back if (a) the Company and its Significant Subsidiaries could, immediately prior to such transaction, create a Mortgage in the amount of the net proceeds of such sale without (other than pursuant to the exceptions
contained in clauses (b) through (f) of Section 10.9 above) being obligated under Section 10.9 above to create a ratable Mortgage in favor of the Securities or (b) the Company or any Significant Subsidiary uses within 120 days of such sale an amount
equal to the fair market value of the property sold to repay other Indebtedness for money borrowed of the Company or any Significant Subsidiary (other than indebtedness that is subordinated to the Securities) maturing more than 12 months after the
date of the creation of such indebtedness. 
  

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 ARTICLE XI 
  

REDEMPTION OF SECURITIES 
  
 Section 11.1 Applicability of Article. 
  
 Securities of any series which are redeemable before their Stated Maturity shall be redeemable in accordance with their terms in whole or in part
(provided Securities issued in denominations larger than $1,000 may be redeemed in part only in integral multiples of $1,000) and (except as otherwise specified as contemplated by Section 3.1 above for Securities of any series) in accordance with
this Article XI. 
  
 Section 11.2 Election to Redeem; Notice to Trustee.

  
 The election of the Company to redeem any Securities shall be
evidenced by a Board Resolution. In case of any redemption at the election of the Company of less than all the Securities of any series, the Company shall, at least 45 days prior to the Redemption Date fixed by the Company (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 Company shall furnish the Trustee with an Officer’s Certificate evidencing compliance with such restriction. 
  
 Section 11.3 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 90 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series not previously called for redemption, substantially pro rata, by lot or by any
other method as the Trustee considers fair and appropriate and that complies with the requirements of the principal national securities exchange, if any, on which such Securities are listed, and which may provide for the selection for redemption of
portions (equal to the lesser of the minimum authorized denomination for Securities of that series or $50 per Security, and 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 that in case the Securities of such series have different terms and maturities, the Securities to be redeemed shall be selected by the Company and the Company shall give notice thereof
to the Trustee. 
  
 The Trustee shall promptly notify the Company
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 the
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. 
  

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 Section 11.4 Notice of Redemption. 
  
 Notice of redemption shall be given by first-class mail, postage prepaid, mailed not less than 30 nor more than 60 days
prior to the Redemption Date, to each Holder of Securities to be redeemed, at his address appearing in the Security Register. 
  
 All notices of redemption shall state: 
  
 (a) the Redemption Date; 
  
 (b) the Redemption Price; 
  
 (c) 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; 
  
 (d) 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; 
  
 (e) the place or places where such Securities are to be surrendered for payment of the Redemption Price; 
  
 (f) that the redemption is for a sinking fund, if such is
the case; 
  
 (g) the CUSIP number, if any, of
the Securities to be redeemed; and 
  
 (h) unless
otherwise provided as to a particular series of Securities, if at the time of publication or mailing of any notice of redemption the Company shall not have deposited with the Trustee or Paying Agent and/or irrevocably directed the Trustee or Paying
Agent to apply, from money held by it available to be used for the redemption of Securities, an amount in cash sufficient to redeem all of the Securities called for redemption, including accrued interest to the Redemption Date, such notice shall
state that it is subject to the receipt of the redemption moneys by the Trustee or Paying Agent before the Redemption Date (unless such redemption is mandatory) and such notice shall be of no effect unless such moneys are so received before such
date. 
  
 Notice of redemption of Securities to be redeemed at the
election of the Company shall be given by the Company or, at the Company’s request, by the Trustee in the name and at the expense of the Company. 
  
 Section 11.5 Deposit of Redemption Price. 
  
 Prior to any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent,
segregate and hold in trust as provided in Section 10.8 above) 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. 
  

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 Section 11.6 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 in this Indenture specified, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Securities shall cease to bear interest. Upon
surrender of any such security for redemption in accordance with said notice, such security shall be paid by the Company at the Redemption Price, together with accrued interest to the Redemption Date; provided, however, that 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 Regular or Special Record Dates
according to their terms and the provisions of Section 3.7 above. 
  
 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 in the Security.

  
 Section 11.7 Securities Redeemed in Part. 
  
 Any Security which is to be redeemed only in part shall be surrendered at an
office or agency of the Company at a Place of Payment therefor (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder
thereof or his attorney duly authorized in writing), and the Company shall execute, and the Trustee shall authenticate and deliver to the Holder of such security without service charge, a new Security or Securities of the same series and Stated
Maturity, of any authorized denomination as requested by such Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the security so surrendered. 
  
 ARTICLE XII 
  
 SINKING FUNDS 
  
 Section 12.1 Applicability of Article. 
  
 The provisions of this Article XII shall be applicable to any sinking fund
for the retirement of Securities of a series, except as otherwise specified as contemplated by Section 3.1 above for Securities of such series. 
  
 The minimum amount of any sinking fund payment provided for by the terms of Securities of any series is in this Indenture 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 in this Indenture 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 redemption as provided in Section 12.2 below. 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. 
  

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 Section 12.2 Satisfaction of Sinking Fund Payments with Securities. 
  
 The Company (1) may deliver Securities of a series (other than any Securities
previously called for redemption) and (2) may apply as a credit Securities of a series which have been (i) previously cancelled pursuant to Section 3.9 above or delivered for cancellation or (ii) redeemed either at the election of the Company
pursuant to the terms of such Securities or through the application of permitted Optional Sinking Fund Payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any Mandatory 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. Such Securities shall be received
and credited at the principal amount 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 Mandatory Sinking Fund Payment shall be reduced
accordingly. 
  
 Section 12.3 Redemption of Securities for Sinking Fund.

  
 Not less than 45 days prior to each sinking fund payment date
for any series of Securities, the Company will deliver to the Trustee an Officer’s 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 12.2 above 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 11.3 above and cause notice of the redemption
thereof to be given in the name of and at the expense of the Company in the manner provided in Section 11.4 above. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in
Sections 11.6 and 11.7 above. 
  
 ARTICLE XIII

  
 DEFEASANCE AND COVENANT DEFEASANCE 
  
 Section 13.1 Applicability of Article; Company’s Option to Effect Defeasance or
Covenant Defeasance. 
  
 Unless pursuant to Section 3.1 above
provision is made for the inapplicability of either or both of (a) Defeasance of the Securities of a series under Section 13.2 below or (b) Covenant Defeasance of the Securities of a series under Section 13.3 below, then the provisions of such
Section or Sections, as the case may be, together with the other provisions of this Article XIII, shall be applicable to the Securities of such series, and the Company may at its option by Board Resolution, at any time, with respect to the
Securities of such series, elect to have either Section 13.2 below (unless inapplicable) or Section 13.3 below (unless inapplicable) be applied to the Outstanding Securities of such series upon compliance with the applicable conditions set forth
below in this Article XIII. 
  

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 Section 13.2 Defeasance and Discharge. 
  
 Upon the Company’s exercise of the option provided in Section 13.1 above to defease the Outstanding Securities of a
particular series, the Company shall be discharged from its obligations with respect to the Outstanding Securities of such series on the date the applicable conditions set forth in Section 13.4 below are satisfied (hereinafter,
“Defeasance”). Defeasance shall mean that the Company shall be deemed to have paid and discharged the entire indebtedness represented by the Outstanding Securities of such series and to have satisfied all its other obligations under such
Securities and this Indenture insofar as such Securities are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same); provided, however, that the following rights, obligations, powers,
trusts, duties and immunities shall survive until otherwise terminated or discharged under this Indenture: (A) the rights of Holders of Outstanding Securities of such series to receive, solely from the trust fund provided for in Section 13.4 below,
payments in respect of the principal of (and premium, if any) and interest on such Securities when such payments are due, (B) the Company’s obligations with respect to such Securities under Sections 3.4, 3.5, 3.6, 10.1, 10.2 and 10.8 above, (C)
the rights, powers, trusts, duties and immunities of the Trustee under this Indenture and (D) this Article XIII. Subject to compliance with this Article XIII, the Company may exercise its option with respect to Defeasance under this Section 13.2
notwithstanding the prior exercise of its option with respect to Covenant Defeasance under Section 13.3 below in regard to the Securities of such series. 
  
 Section 13.3 Covenant Defeasance. 
  
 Upon the Company’s exercise of the option provided in Section 13.1 above to obtain a Covenant Defeasance with respect to the Outstanding Securities
of a particular series, the Company shall be released from its obligations under this Indenture (except its obligations under Sections 3.4, 3.5, 3.6, 5.6, 5.9, 6.10, 10.1, 10.2, 10.5, 10.7 and 10.8 above) with respect to the Outstanding Securities
of such series on and after the date the applicable conditions set forth in Section 13.4 are satisfied (hereinafter, “Covenant Defeasance”). Covenant Defeasance shall mean that, with respect to the Outstanding Securities of such series,
the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in this Indenture (except its obligations under Sections 3.4, 3.5, 3.6, 5.6, 5.9, 6.10, 10.1, 10.2, 10.5, 10.7 and 10.8 above
), whether directly or indirectly by reason of any reference elsewhere in this Indenture or by reason of any reference to any other provision in this Indenture or in any other document, and such omission to comply shall not constitute an Event of
Default under Section 5.1(d) above with respect to Outstanding Securities of such series, and the remainder of this Indenture and of the Securities of such series shall be unaffected thereby. 
  
 Section 13.4 Conditions to Defeasance or Covenant Defeasance. 
  
 The following shall be the conditions to Defeasance under Section 13.2 above
and Covenant Defeasance under Section 13.3 above with respect to the Outstanding Securities of a particular series: 
  
 (a) the Company shall irrevocably have deposited or caused to be deposited (and in the case of Defeasance) such deposit shall have been
made 121 days prior 

  

 64 

 
to Defeasance) with the Trustee (or another trustee satisfying the requirements of Section 6.9 above who shall agree to comply with the provisions of this
Article XIII applicable to it), under the terms of an irrevocable trust agreement in form and substance reasonably satisfactory to such Trustee, as trust funds in trust for the purpose of making the following payments, specifically pledged as
security for, and dedicated solely to, the benefit of the Holders of such Securities, (A) Dollars in an amount, or (B) U.S. Government Obligations which through the scheduled payment of principal and interest in respect thereof in accordance with
their terms will provide, not later than the due date of any payment, money in an amount, or (C) a combination thereof, in each case sufficient, after payment of all federal, state and local taxes or other charges or assessments in respect thereof
payable by the Trustee, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee (or other
qualifying trustee) to pay and discharge, (i) the principal of (and premium, if any, on) and each installment of principal of (and premium, if any) and interest on the Outstanding Securities of such series on the Stated Maturity of such principal or
installment of principal or interest and (ii) any mandatory sinking fund payments or analogous payments applicable to the Outstanding Securities of such series on the day on which such payments are due and payable in accordance with the terms of
this Indenture and of such Securities. 
  
 (b) No
Default or Event of Default with respect to the Securities of such series shall have occurred and be continuing on the date of such deposit or shall occur as a result of such deposit, and no Default or Event of Default under clause (e) or (f) of
Section 5.1 above shall occur and be continuing, at any time during the period ending on the 31st day after the date of such deposit (it being understood that this condition shall not be deemed satisfied until the expiration of such period).

  
 (c) Such deposit, Defeasance or Covenant
Defeasance shall not result in a breach or violation of, or constitute a default under, any other agreement or instrument to which the Company is a party or by which it is bound. 
  
 (d) In the case of an election with respect to Section 13.2 above, the Company shall have delivered to the
Trustee either (A) a ruling directed to the Trustee received from the Internal Revenue Service to the effect that the Holders of the Outstanding Securities of such series will not recognize income, gain or loss for federal income tax purposes as a
result of such Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Defeasance had not occurred or (B) an Opinion of Counsel, based on a ruling
published by the Internal Revenue Service or on a change in the applicable federal income tax law since the date of this Indenture, in either case to the effect that, and based thereon such opinion shall confirm that, the Holders of the Outstanding
Securities of such series will not recognize income, gain or loss for federal income tax purposes as a result of such Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have
been the case if such Defeasance had not occurred. 
  
 (e) In the case of an election with respect to Section 13.3 above, the Company shall have delivered to the Trustee an Opinion of Counsel or a ruling directed to the Trustee received from the Internal Revenue Service to the effect that the
Holders of the 

  

 65 

 
Outstanding Securities of such series will not recognize income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance and
will be subject to federal income 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. 
  
 (f) Such Defeasance or Covenant Defeasance shall be effected in compliance with any additional terms,
conditions or limitations which may be imposed on the Company in connection therewith pursuant to Section 3.1 above. 
  
 (g) The Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all
conditions precedent provided for relating to either the Defeasance under Section 13.2 above or the Covenant Defeasance under Section 13.3 above (as the case may be) have been complied with. 
  
 Section 13.5 Deposited Money and Government Obligations To Be Held In Trust.

  
 Subject to the provisions of the last paragraph of Section
10.8 above, all money and Government Obligations (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee—collectively for purposes of this Section 13.5, the “Trustee”) pursuant to Section 13.4 above in
respect of the Outstanding Securities of a particular series shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any Paying Agent
(including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of such Securities of all sums due and to become due thereon in respect of principal (and premium, if any) and interest, but such money need not be
segregated from other funds except to the extent required by law. 
  
 The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the Government Obligations deposited pursuant to Section 13.4 above or the principal and interest received in respect
thereof, other than any such tax, fee or other charge which by law is for the account of the Holders of the Outstanding Securities of such series. 
  
 Anything in this Article XIII to the contrary notwithstanding, the Trustee shall deliver to or pay to the Company from time to time upon Company Request
any money or Government Obligations held by it as provided in Section 13.4 above which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are in
excess of the amount thereof which would then be required to be deposited for the purpose for which such money or Government Obligations were deposited. 
  

 66 

 ARTICLE XIV 
  
 MISCELLANEOUS 
  
 Section 14.1 Miscellaneous. 
  
 This Indenture 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. 
  

 67 

 IN WITNESS WHEREOF, the parties to this Indenture have caused this Indenture to be duly executed by their
respective officers thereunto duly authorized, as of the day and year first above written. 
  

			
	 HUGHES SUPPLY, INC.,
 as
Issuer

		
	 By:
	 	 
		
	 Name:
	 	 
		
	 Title:
	 	 
	
	_____________________________________,
	 as Trustee

  

			
		
	 By:
	 	 
		
	 Name:
	 	 
		
	 Title:
	 	 

  

 68Form of Subordinated Indenture

 Exhibit 4.6 
  

HUGHES SUPPLY, INC., AS ISSUER 
  
 TO 
  
                                       
              , AS TRUSTEE 
  
 Subordinated Debt Indenture 
  
 DATED AS OF                     , 200   
  

 HUGHES SUPPLY, INC. 
  
 Cross-Reference Sheet Between Trust Indenture Act of 1939 and Indenture: 
  

			
	     Section of
 Trust Indenture Act
     of 1939

	  	Indenture Section

	 310(a)(1)
	  	6.9
	 310(a)(2)
	  	6.9
	 310(a)(3)
	  	Not applicable
	 310(a)(4)
	  	Not applicable
	 310(a)(5)
	  	6.9
	 310(b)
	  	6.8, 6.9 and
6.10
	 310(c)
	  	Not applicable
	 311(a)
	  	6.13
	 311(b)
	  	6.13
	 311(c)
	  	Not applicable
	 312(a)
	  	7.1 and 7.2(a)
	 312(b)
	  	7.2(b)
	 312(c)
	  	7.2(c)
	 313(a)
	  	7.3(a)
	 313(b)
	  	Not applicable
	 313(c)
	  	7.3(a)
	 313(d)
	  	7.3(b)
	 314(a)
	  	7.4
	 314(b)
	  	Not applicable
	 314(c)
	  	1.2
	 314(d)
	  	Not applicable
	 314(e)
	  	1.2
	 314(f)
	  	Not applicable
	 315(a)
	  	6.1(a)
	 315(b)
	  	6.2
	 315(c)
	  	6.1(b)
	 315(d)
	  	6.1(c)
	 315(e)
	  	5.14
	 316(a)
	  	1.1, 1.4, 5.2,
5.12 and 5.13
	 316(b)
	  	5.7, 5.8 and
5.13(a)
	 316(c)
	  	1.4(e)
	 317(a)
	  	5.3 and 5.4
	 317(b)
	  	10.8
	 318(a)
	  	1.7

  
 Note: The above
cross-reference table shall not, for any purpose, be deemed to be a part of the Indenture. 
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page

		
	 ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	  	1
			
	 Section 1.1
	  	 Definitions
	  	1
			
	 Section 1.2
	  	 Compliance Certificates and Opinions
	  	8
			
	 Section 1.3
	  	 Form of Documents Delivered to Trustee
	  	9
			
	 Section 1.4
	  	 Acts of Holders
	  	9
			
	 Section 1.5
	  	 Notices, Etc., to Trustee and Company
	  	10
			
	 Section 1.6
	  	 Notice to Holders; Waiver
	  	11
			
	 Section 1.7
	  	 Conflict with Trust Indenture Act
	  	11
			
	 Section 1.8
	  	 Effect of Headings and Table of Contents
	  	11
			
	 Section 1.9
	  	 Successors and Assigns
	  	11
			
	 Section 1.10
	  	 Separability Clause
	  	12
			
	 Section 1.11
	  	 Benefits of Indenture
	  	12
			
	 Section 1.12
	  	 Governing Law
	  	12
			
	 Section 1.13
	  	 Legal Holidays
	  	12
			
	 Section 1.14
	  	 No Recourse Against Others
	  	12
		
	 ARTICLE II SECURITY FORMS
	  	12
			
	 Section 2.1
	  	 Forms Generally
	  	12
			
	 Section 2.2
	  	 Form of Face of Security
	  	13
			
	 Section 2.3
	  	 Form of Reverse of Security
	  	15
			
	 Section 2.4
	  	 Form of Trustee’s Certificate of Authentication
	  	19
			
	 Section 2.5
	  	 Securities in Global Form
	  	19
			
	 Section 2.6
	  	 CUSIP Number
	  	20
			
	 Section 2.7
	  	 Form of Legend for the Securities in Global Form
	  	20
		
	 ARTICLE III THE SECURITIES
	  	21
			
	 Section 3.1
	  	 Amount Unlimited; Issuable in Series
	  	21
			
	 Section 3.2
	  	 Denominations
	  	23
			
	 Section 3.3
	  	 Execution, Authentication, Delivery and Dating
	  	23
			
	 Section 3.4
	  	 Temporary Securities
	  	25
			
	 Section 3.5
	  	 Registration, Registration of Transfer and Exchange
	  	26
			
	 Section 3.6
	  	 Mutilated, Destroyed, Lost and Stolen Securities
	  	29
			
	 Section 3.7
	  	 Payment of Interest; Interest Rights Preserved
	  	29

  

 i 

					
	 Section 3.8
	  	 Persons Deemed Owners
	  	30
			
	 Section 3.9
	  	 Cancellation
	  	31
			
	 Section 3.10
	  	 Computation of Interest
	  	31
		
	 ARTICLE IV SATISFACTION AND DISCHARGE
	  	32
			
	 Section 4.1
	  	 Satisfaction and Discharge of Indenture
	  	32
			
	 Section 4.2
	  	 Application of Trust Money
	  	32
		
	 ARTICLE V REMEDIES
	  	33
			
	 Section 5.1
	  	 Events of Default
	  	33
			
	 Section 5.2
	  	 Acceleration of Maturity; Rescission and Annulment
	  	35
			
	 Section 5.3
	  	 Collection of Indebtedness and Suits for Enforcement by Trustee
	  	35
			
	 Section 5.4
	  	 Trustee May File Proofs of Claim
	  	36
			
	 Section 5.5
	  	 Trustee May Enforce Claims Without Possession of Securities
	  	37
			
	 Section 5.6
	  	 Application of Money Collected
	  	37
			
	 Section 5.7
	  	 Limitation on Suits
	  	37
			
	 Section 5.8
	  	 Unconditional Right of Holders to Receive Principal, Premium and Interest
	  	38
			
	 Section 5.9
	  	 Restoration of Rights and Remedies
	  	38
			
	 Section 5.10
	  	 Rights and Remedies Cumulative
	  	38
			
	 Section 5.11
	  	 Delay or Omission Not Waiver
	  	39
			
	 Section 5.12
	  	 Control by Holders
	  	39
			
	 Section 5.13
	  	 Waiver of Past Defaults
	  	39
			
	 Section 5.14
	  	 Undertaking for Costs
	  	40
		
	 ARTICLE VI THE TRUSTEE
	  	40
			
	 Section 6.1
	  	 Certain Duties and Responsibilities of the Trustee
	  	40
			
	 Section 6.2
	  	 Notice of Defaults
	  	40
			
	 Section 6.3
	  	 Certain Rights of Trustee
	  	41
			
	 Section 6.4
	  	 Not Responsible for Recitals or Issuance of Securities
	  	42
			
	 Section 6.5
	  	 May Hold Securities
	  	42
			
	 Section 6.6
	  	 Money Held in Trust
	  	42
			
	 Section 6.7
	  	 Compensation and Reimbursement
	  	42
			
	 Section 6.8
	  	 Disqualification; Conflicting Interests
	  	43
			
	 Section 6.9
	  	 Corporate Trustee Required; Eligibility
	  	43
			
	 Section 6.10
	  	 Resignation and Removal; Appointment of Successor
	  	43
			
	 Section 6.11
	  	 Acceptance of Appointment by Successor or Additional Trustees
	  	45

  

 ii 

					
	 Section 6.12
	  	 Merger, Conversion, Consolidation or Succession to Business
	  	46
			
	 Section 6.13
	  	 Preferential Collection of Claims Against Company
	  	46
			
	 Section 6.14
	  	 Appointment of Authenticating Agent
	  	46
		
	 ARTICLE VII HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY
	  	48
			
	 Section 7.1
	  	 Company to Furnish Trustee Names and Addresses of Holders
	  	48
			
	 Section 7.2
	  	 Preservation of Information; Communications to Holders
	  	48
			
	 Section 7.3
	  	 Reports by Trustee
	  	49
			
	 Section 7.4
	  	 Reports by Company
	  	50
		
	 ARTICLE VIII CONSOLIDATION, MERGER, LEASE, SALE OR TRANSFER
	  	50
			
	 Section 8.1
	  	 When Company May Merge, Etc.
	  	50
			
	 Section 8.2
	  	 Opinion of Counsel
	  	51
			
	 Section 8.3
	  	 Successor Corporation Substituted
	  	51
		
	 ARTICLE IX SUPPLEMENTAL INDENTURES
	  	51
			
	 Section 9.1
	  	 Supplemental Indentures Without Consent of Holders
	  	51
			
	 Section 9.2
	  	 Supplemental Indentures with Consent of Holders
	  	53
			
	 Section 9.3
	  	 Execution of Supplemental Indentures
	  	54
			
	 Section 9.4
	  	 Effect of Supplemental Indentures
	  	54
			
	 Section 9.5
	  	 Conformity with Trust Indenture Act
	  	54
			
	 Section 9.6
	  	 Reference in Securities to Supplemental Indentures
	  	54
		
	 ARTICLE X COVENANTS
	  	54
			
	 Section 10.1
	  	 Payments of Securities
	  	54
			
	 Section 10.2
	  	 Maintenance of Office or Agency
	  	55
			
	 Section 10.3
	  	 Corporate Existence
	  	55
			
	 Section 10.4
	  	 Payment of Taxes and Other Claims
	  	55
			
	 Section 10.5
	  	 Compliance Certificates
	  	56
			
	 Section 10.6
	  	 Commission Reports
	  	56
			
	 Section 10.7
	  	 Waiver of Stay, Extension or Usury Laws
	  	56
			
	 Section 10.8
	  	 Money for Securities Payments to Be Held in Trust
	  	57
		
	 ARTICLE XI REDEMPTION OF SECURITIES
	  	58
			
	 Section 11.1
	  	 Applicability of Article
	  	58
			
	 Section 11.2
	  	 Election to Redeem; Notice to Trustee
	  	58
			
	 Section 11.3
	  	 Selection by Trustee of Securities to Be Redeemed
	  	58
			
	 Section 11.4
	  	 Notice of Redemption
	  	59
			
	 Section 11.5
	  	 Deposit of Redemption Price
	  	60

  

 iii 

					
	 Section 11.6
	  	 Securities Payable on Redemption Date
	  	60
			
	 Section 11.7
	  	 Securities Redeemed in Part
	  	60
		
	 ARTICLE XII SINKING FUNDS
	  	61
			
	 Section 12.1
	  	 Applicability of Article
	  	61
			
	 Section 12.2
	  	 Satisfaction of Sinking Fund Payments with Securities
	  	61
			
	 Section 12.3
	  	 Redemption of Securities for Sinking Fund
	  	61
		
	 ARTICLE XIII DEFEASANCE AND COVENANT DEFEASANCE
	  	62
			
	 Section 13.1
	  	 Applicability of Article; Company’s Option to Effect Defeasance or Covenant Defeasance
	  	62
			
	 Section 13.2
	  	 Defeasance and Discharge
	  	62
			
	 Section 13.3
	  	 Covenant Defeasance
	  	62
			
	 Section 13.4
	  	 Conditions to Defeasance or Covenant Defeasance
	  	63
			
	 Section 13.5
	  	 Deposited Money and Government Obligations To Be Held In Trust
	  	64
		
	 ARTICLE XIV MISCELLANEOUS
	  	65
			
	 Section 14.1
	  	 Miscellaneous
	  	65
		
	 ARTICLE XV SUBORDINATION
	  	65
			
	 Section 15.1
	  	 Securities Subordinated to Senior Indebtedness
	  	65
			
	 Section 15.2
	  	 Reliance on Certificate of Liquidating Agent; Further Evidence as to Ownership of Senior Indebtedness
	  	68
			
	 Section 15.3
	  	 Payment Permitted If No Default
	  	69
			
	 Section 15.4
	  	 Disputes with Holders of Certain Senior Indebtedness
	  	69
			
	 Section 15.5
	  	 Trustee Not Charged with Knowledge of Prohibition
	  	69
			
	 Section 15.6
	  	 Trustee to Effectuate Subordination
	  	70
			
	 Section 15.7
	  	 Rights of Trustee as Holder of Senior Indebtedness
	  	70
			
	 Section 15.8
	  	 Article Applicable to Paying Agents
	  	70
			
	 Section 15.9
	  	Subordination Rights Not Impaired by Acts or Omissions of the Company or Holders of Senior Indebtedness	  	70
			
	 Section 15.10
	  	 Trustee Not Fiduciary for Holders of Senior Indebtedness
	  	71

  

 iv 

 Subordinated Debt Indenture (this “Indenture”), dated as of
                    , 200  , between HUGHES SUPPLY, INC., a corporation duly organized and existing under the laws of the
State of Florida (in this Indenture called the “Company”), having its principal office at One Hughes Way, Orlando, Florida 32805 and
                                        
                    , a national banking association, as Trustee (in this Indenture called the “Trustee”). 
  
 RECITALS OF THE COMPANY 
  
 The Company 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 (in this Indenture called 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 Company, in accordance with its terms, have been done. 
  
 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 
  
 For and in
consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the Securities or of any series thereof, as follows: 

 
 ARTICLE I 
  
 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 
  
 Section 1.1 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 I have the meanings assigned to them in this Article I and include the plural as well as the singular; 
  
 (b) all other terms used in this Indenture which are defined in the Trust Indenture Act, either directly or by reference in this
Indenture, have the meanings assigned to them in this Indenture; 
  
 (c) all accounting terms not otherwise defined in this Indenture have the meanings assigned to them in accordance with GAAP; and 
  
 (d) the word “Including” (and with the correlative meaning “Include”) means including,
without limiting the generality of, any description following such term. 
  
 Certain terms, used principally in Article VI below, are defined in that Article. 
  
 “Act,” when used with respect to any Holder, has the meaning specified in Section 1.4 below. 
  

 “Affiliate” means another Person directly or indirectly controlling or
controlled by or under direct or indirect common control with such first Person. For the purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and
“under common control with”), as applied to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of that Person, whether through the ownership of voting
securities or by contract or otherwise. 
  
 “Authenticating Agent” means any Person authorized by the Trustee to act on behalf of the Trustee to authenticate Securities. 
  
 “Bankruptcy Law” means Title 11, U.S. Code or any similar federal or state law for the relief of debtors. 
  
 “Board of Directors” means the board of directors
of the Company; provided, however, that when the context refers to actions or resolutions of the Board of Directors, then the term “Board of Directors” shall also mean any duly authorized committee of the Board of Directors of the Company
or Officer authorized to act with respect to any particular matter to exercise the power of the Board of Directors of the Company. 
  
 “Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company 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 or regulation to close. 
  
 “Capitalized Lease Obligation” means an obligation that is required to be classified and accounted for as a capitalized lease
for financial reporting purposes in accordance with generally accepted accounting principles; and the amount of Indebtedness represented by such obligation shall be the capitalized amount of such obligation determined in accordance with such
principles; and the Stated Maturity of this Indenture shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be terminated by the lessee without payment of a penalty.

  
 “Capital Stock” of any Person shall
mean any and all shares, interests, participations or other equivalents of or interests in (however designated) equity of such Person, including any preferred stock, but excluding any debt securities convertible into such equity. 
  
 “Commission” means the Securities and Exchange
Commission, as from time to time constituted, created under the Exchange Act, or, if at any time after the execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then
the body performing such duties at such time. 
  

 2 

 “Common Depositary” has the meaning specified in Section 3.4 below. 

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

  
 “Company Request” or “Company
Order” means a written request or order signed in the name of the Company by its Chairman of the Board, its President or a Vice President, and by its Treasurer, an Assistant Treasurer, its Controller, an Assistant Controller, its Secretary or
an Assistant Secretary, and delivered to the Trustee. 
  
 “Corporate Trust Office” means the principal corporate trust office of the Trustee at which, at any particular time, its corporate trust business shall be administered, which office at the date of this Indenture is located at
                        , except for purposes of Section 10.2 below such term
                                     shall mean the office or
agency of the Trustee in the                     , the City of
                    , which office at the date of this Indenture is located at
                            . 
  
 “Covenant Defeasance” has the meaning specified in Section 13.3 below. 
  
 “Currency Agreement” shall mean any foreign
exchange contract, currency swap agreement or other similar agreement or arrangement designed to protect such Person or any of its Subsidiaries against fluctuations in currency values. 
  
 “Custodian” means any receiver, trustee, assignee, liquidator, sequestrator or similar official
under any Bankruptcy Law. 
  
 “Default”
means any event which is, or after notice or passage of time or both would be, an Event of Default. 
  
 “Defaulted Interest” has the meaning specified in Section 3.7 below. 
  
 “Defeasance” has the meaning specified in Section
13.2 below. 
  
 “Dollars” and
“$” means lawful money of the United States of America. 
  
 “Event of Default” has the meaning specified in Section 5.1 below. 
  
 “Exchange Act” means the Securities and Exchange Act of 1934, as amended from time to time, and the rules and regulations
promulgated under this Indenture. 
  
 “GAAP” means such accounting principles that are generally accepted in the United States of America as of the date of any computation required under this Indenture. 
  
 “Holder” or “Security holder” means a Person in whose name a Security is registered in
the Security Register. 
  
 “Indebtedness” means, with respect to any Person, at any date, any of the following, without duplication, (i) any liability, contingent or otherwise, of such Person (A) 

  

 3 

 
for borrowed money (whether or not the recourse of the lender is to the whole of the assets of such Person or only to a portion thereof), (B) evidenced by a
note, bond, debenture or similar instrument or (C) for the payment of money relating to a Capitalized Lease Obligation or other obligation (whether issued or assumed) relating to the deferred purchase price of property; (ii) all conditional sale
obligations and all obligations under any title retention agreement (even if the rights and remedies of the seller under such agreement in the event of default are limited to repossession or sale of such property), but excluding trade accounts
payable arising in the ordinary course of business; (iii) all obligations for the reimbursement of any obligor on any letter of credit, banker’s acceptance or similar credit transaction other than entered into in the ordinary course of
business; (iv) all indebtedness of others secured by (or for which the holder of such indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on any asset or property (including, without limitation, leasehold
interests and any other tangible or intangible property) of such Person, whether or not such indebtedness is assumed by such Person or is not otherwise such Person’s legal liability; provided, that if the obligations so secured have not been
assumed in full by such Person or are otherwise not such Person’s legal liability in full, the amount of such indebtedness for the purposes of this definition shall be limited to the lesser of the amount of such indebtedness or the amount of
such indebtedness secured by such Lien; (v) all indebtedness of others (including all interest and dividends on any Indebtedness or preferred stock of any other Person for the payment of which is) guaranteed, directly or indirectly, by such Person
or that is otherwise its legal liability or which such Person has agreed contingently to supply or advance funds; and (vi) obligations in respect of Currency Agreements and Interest Swap Obligations. 
  
 “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 to this Indenture entered into pursuant to the applicable provisions of this Indenture and shall include the terms of particular series of
Securities established as contemplated by Section 3.1 below. 
  
 “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. 
  
 “Interest Swap Obligations” shall mean the obligations of any Person pursuant to any interest rate swap agreement, interest rate
collar agreement or other similar agreement or arrangement designed to protect such Person or any of its Subsidiaries against fluctuations in interest rates. 
  

“Lien” shall mean any mortgage, pledge, security interest, encumbrance, lien, charge or adverse claim affecting title or
resulting in an encumbrance against real or personal property or a security interest of any kind (including, without limitation, any conditional sale or other title retention agreement or lease in the nature thereof other than a lease which is not a
Capitalized Lease Obligation.) 
  

 4 

 “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 in this Indenture or in this Indenture provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 
  
 “Officer” means the Chairman of the Board, the
Vice Chairman of the Board, the President, any Senior or Executive Vice President, any Vice President, the Treasurer, any Assistant Treasurer, the Controller, the Secretary or any Assistant Secretary of the Company. 
  
 “Officer’s Certificate” means a certificate
signed by an Officer and delivered to the Trustee. 
  
 “Opinion of Counsel” means a written opinion of counsel, who may be an employee of or counsel for the Company, and who shall be reasonably acceptable to the Trustee. 
  
 “Original Issue Discount Security” means any Security which provides for an amount less than the
principal amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.2 below. 
  
 “Outstanding,” when used with respect to Securities or Securities of any series, means, as of the date of determination, all
such 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 in the necessary amount has been theretofore deposited with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for
the Holders of such Securities; provided that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made; (iii) Securities which
have been paid pursuant to Section 3.6 below, or in exchange for or in lieu of which other Securities have been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been
presented to the Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in whose hands such Securities are valid obligations of the Company; and (iv) Securities which have been defeased pursuant to Section 13.2
below; 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 under this Indenture, (a) the
principal amount of an Original Issue Discount Security that shall be deemed to be Outstanding for such purposes shall be that portion of the principal amount thereof that could be declared to be due and payable upon the occurrence of an Event of
Default and the continuation thereof pursuant to the terms of such Original Issue Discount Security as of the date of such determination and (b) Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the Company
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, only
Securities which the Trustee knows to be so owned shall be so disregarded. Securities so owned which have been pledged in good faith may be 

  

 5 

 
regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and
that the pledgee is not the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor. 
  
 “Paying Agent” means any Person authorized by the Company to pay the principal of (and premium, if any) or interest on any
Securities on behalf of the Company. The Company may act as Paying Agent with respect to any Securities issued under this Indenture. 
  
 “Person” means any individual, corporation, partnership, limited partnership, joint venture, association, joint-stock company,
trust, unincorporated organization, government or any agency or political subdivision thereof, or any other entity. 
  
 “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 3.1 below. 
  
 “Redemption Date,” when used with respect to any Security of any series 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 of any series to be redeemed, means the price at which it is to be redeemed pursuant to this Indenture. 
  
 “Registered Security” means any Security issued under this Indenture and registered in the
Security Register. 
  
 “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 3.1 below. 
  
 “Responsible Officer,” when used with respect to the Trustee, means any officer of the Trustee in
its Corporate Trust Office and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the particular subject. 
  
 “Securities” has the meaning stated in the first
recital of this Indenture and more particularly means any Securities authenticated and delivered under this Indenture. 
  

 6 

 “Security Register” and “Security Registrar” have the respective
meanings specified in Section 3.5 below. 
  
 “Significant Subsidiary” means any direct or indirect Subsidiary of the Company that is a “significant subsidiary,” as defined in Regulation S-X promulgated under the Securities Act of 1933, as amended. 
  
 “Senior Indebtedness” is defined as the principal,
premium, if any, and interest on (i) all indebtedness of the Company, whether outstanding on the date of the issuance of Subordinated Debt Securities or thereafter created, incurred or assumed, which is for money borrowed, or which is evidenced by a
note or similar instrument given in connection with the acquisition of any business, properties or assets, including securities, (ii) any indebtedness of others of the kinds described in the preceding clause (i) for the payment of which the Company
is responsible or liable as guarantor or otherwise and (iii) amendments, renewals, extensions and refundings of any such indebtedness, unless in any instrument or instruments evidencing or securing such indebtedness or pursuant to which the same is
outstanding, or in any such amendment, renewal, extension or refunding, it is expressly provided that such indebtedness is not superior in right of payment to Subordinated Debt Securities. 
  
 “Special Record Date” for the payment of any
Defaulted Interest means a date fixed by the Trustee pursuant to Section 3.7 below. 
  
 “Stated Maturity,” when used with respect to any Security or any installment of principal thereof or interest thereon, means the
date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable. 
  
 “Subsidiary” of any Person means (i) any Person 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 of such Person is at the time owned or controlled, directly or indirectly, by any Person or one or more of the Subsidiaries of
that Person or a combination of such Person and its subsidiaries, and (ii) any partnership, joint venture or other Person in which such Person or one or more of the Subsidiaries of that Person or a combination of such Person and its subsidiaries has
the power to control by contract or otherwise the board of directors or equivalent governing body or otherwise controls such entity. 
  
 “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, as in force at the date as of which this Indenture was
executed; provided, however, that in the event that such Act is amended after such date, “Trust Indenture Act” means the Trust Indenture Act of 1939 as so amended. 
  
 “Trustee” means the Person named as the “Trustee” in the first paragraph of this
instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee under this Indenture, and if at any time
there is more than one such Person, “Trustee” as used with respect to the Securities of any series shall mean the Trustee with respect to Securities of that series. 
  
 “U.S. Depositary” means, with respect to the Securities of any series issuable or issued in whole
or in part in the form of one or more permanent global Securities, the Person designated as U.S. Depositary by the Company pursuant to Section 3.1 below, which 

  

 7 

 
must be a clearing agency registered under the Exchange Act until a successor U.S. Depositary shall have become such pursuant to the applicable provisions,
and thereafter “U.S. Depositary” shall mean or include each Person who is then a U.S. Depositary under this Indenture, and if at any time there is more than one such Person, “U.S. Depositary” shall mean the U.S. Depositary with
respect to the Securities of that series. 
  
 “U.S. Government Obligations” means securities which are (i) direct obligations of the United States of America for the payment of which its full faith and credit is pledged or (ii) obligations of a Person controlled or supervised
by and acting as an agency or instrumentality of the United States of America the timely payment of which is unconditionally guaranteed by the full faith and credit of the United States of America which, in either case, are not callable or
redeemable at the option of the issuer thereof or otherwise subject to prepayment, and shall also include a depository receipt issued by a New York Clearing House bank or trust company as custodian with respect to any such U.S. Government Obligation
or a specific payment or 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 or from any amount held 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. 
  
 “Vice President” when used with respect to the Company or the Trustee, means any vice president, whether or not designated by a number or a word or words added before or after the title “vice president”. 
  
 Section 1.2 Compliance Certificates and Opinions.

  
 Upon any application or request by the Company to the Trustee
to take any action under any provision of this Indenture, other than an action permitted by Sections 2.5 and 7.4 below, the Company shall furnish to the Trustee an Officer’s Certificate stating that all conditions precedent, if any, provided
for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions 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 shall include: 
  
 (a) a statement that each individual signing such certificate or opinion has read such covenant or condition and the definitions in this Indenture relating thereto; 
  
 (b) 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; 
  

 8 

 (c) 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 
  
 (d) a statement as to whether, in the opinion of each such individual, such condition or covenant has been
complied with. 
  
 Section 1.3 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 may be
based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such Officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with
respect to the matters upon which his certificate or opinion is based are erroneous. Any such certificate or Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an
Officer or Officers of the Company stating that the information with respect to such factual matters is in the possession of the Company, 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 1.4 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 agents duly appointed in writing; and, except as in this Indenture otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to
the Company. Such instrument or instruments (and the action embodied in this Indenture and evidenced thereby) are in this Indenture sometimes referred to as the “Act” of the Holders signing such instrument or instruments. 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 (subject to Section 6.1 below) conclusive in favor of the Trustee and the Company, if made in the manner provided in
this Section 1.4. 
  
 (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 

  

 9 

 
deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such execution is by a signer
acting in a capacity other than his individual capacity, such certificate or affidavit shall also constitute sufficient proof of his authority. The fact and date of the execution of any such instrument or writing, or the authority of the Person
executing the same, may also be proved in any other manner which the Trustee deems sufficient. 
  
 (c) The ownership of Registered 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 Company in reliance thereon, whether or not notation of such action is made upon such Security. 
  
 (e) If the Company shall solicit from the Holders any request, demand, authorization, direction, notice,
consent, waiver or other Act, the Company may, at its option, by or pursuant to a Board Resolution, fix in advance a record date for the determination of Holders entitled to give such request, demand, authorization, direction, notice, consent,
waiver or other Act, but the Company shall have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other Act may be given before or after such record date, but only the
Holders of record at the close of business on such record date shall be deemed to be Holders for the purposes of determining whether Holders of the requisite proportion of Outstanding Securities have authorized or agreed or consented to such
request, demand, authorization, direction, notice, consent, waiver or other Act, and for that purpose the Outstanding Securities shall be computed as of such record date; provided that no such authorization, agreement or consent by the Holders on
such record date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later than six months after the record date. 
  
 Section 1.5 Notices, Etc., to Trustee and Company. 
  
 Any request, demand, authorization, direction, notice, consent, waiver or Act
of Holders or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed with, 
  
 (a) the Trustee by any Holder or by the Company shall be sufficient for every purpose under this Indenture if made, given, furnished or
filed in writing to or with the Trustee and received by the Trustee at its Corporate Trust Office, Attention: Corporate Trust Administration, or 
  
 (b) the Company by the Trustee or by any Holder shall be sufficient for every purpose under this Indenture (unless otherwise in this
Indenture expressly provided) if in writing and mailed, first-class postage prepaid, to the Company addressed to it at the address of its principal office specified in the first paragraph of this Indenture, attention: 

  

 10 

 
Secretary, or at any other address previously furnished in writing to the Trustee by the Company. 
  
 Section 1.6 Notice to Holders; Waiver. 
  
 Where this Indenture or any Security provides for notice to Holders of any
event, such notice shall be deemed sufficiently given (unless otherwise in this Indenture or in such Security 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 or the validity of the proceedings to which such notice relates. Where this Indenture or any Security 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 under this Indenture. 
  
 Any request, demand, authorization, direction, notice, consent or waiver required or permitted under this Indenture shall be in the English language,
except that any published notice may be in an official language of the country of publication. 
  
 Section 1.7 Conflict with Trust Indenture Act. 
  
 If any provision of this Indenture limits, qualifies or conflicts with another provision of this Indenture which is required
to be included in this Indenture by any of the provisions of the Trust Indenture Act, such required provision shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act that may be so modified or
excluded, the latter provision shall be deemed to apply to this Indenture as so modified or shall be excluded, as the case may be. 
  
 Section 1.8 Effect of Headings and Table of Contents. 
  
 The Article and Section headings in this Indenture and the Table of Contents are for convenience only and shall not affect
the construction of this Indenture. 
  
 Section
1.9 Successors and Assigns. 
  
 All covenants and
agreements in this Indenture by the Company shall bind its 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 under
this Indenture and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture. 
  
 Section 1.12 Governing Law. 
  
 This Indenture and the Securities shall be governed by and construed in accordance with the laws (other than the choice of law provisions) of the State of
New York. 
  
 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 interest or principal (and premium, if any) need not be made at such
Place of Payment on such date, but may be made on the next succeeding Business Day or on such other day as may be set out in the Officer’s Certificate pursuant to Section 3.1 below 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 interest shall accrue for the period from and after such Interest Payment Date, Redemption Date or Stated Maturity, as the case may be. 
  
 Section 1.14 No Recourse Against Others. 

 
 A director, officer, employee or stockholder, as such, of the Company
shall not have any liability for any obligations of the Company under the Securities or this Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each Security holder, by accepting a Security, waives
and releases all such liability. Such waivers and releases are part of the consideration for the issuance of the Securities. 
  
 ARTICLE II 
  
 SECURITY FORMS 
  
 Section 2.1 Forms Generally. 
  
 The Securities of each series shall be in substantially the form set forth in this Article, or in such other form as shall be established by or pursuant to a Board Resolution or in one or more indentures supplemental to this Indenture, 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 

  

 12 

 
determined by the Officers executing such Securities, as evidenced by their execution of the Securities. 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 Company and delivered to the Trustee at or prior to the delivery of the
Company Order contemplated by Section 3.3 below for the authentication and delivery of such Securities. 
  
 The Trustee’s certificates of authentication shall be in substantially the form set forth in this Article II. 
  
 The definitive Securities shall be photocopied, 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 2.2 Form of Face of Security. 
  
 (If the Security is an Original Issue Discount Security, insert—for purposes of Section 1272 of the Internal Revenue
Code of 1986, as amended (the “Code”), the amount of original issue discount (as defined in Section 1273 (a) (1) of the Code and Treasury Regulation Section 1.1273-1(a) with respect to this Security is
                , the issue price (as defined in Treasury Regulation Section 1.1273-2) of this Security is
                , the Issue Date (as defined in Section 1275(a)(2) of the Code and Treasury Regulation Section 1.1273-2) of this Security is
                 and the yield to maturity of this Security is
                ). 
  
 Hughes Supply, Inc. 
  

  

					
	 No.                 
	  	 	  	($)                

  
 Hughes Supply, Inc., a
corporation duly organized and existing under the laws of the State of Florida (herein called the “Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to
pay to , or registered assigns, the principal sum of $                 on
                . (If the Security is to bear interest prior to Maturity, insert —, and to pay interest thereon from
                             or from the most recent Interest Payment Date to which interest has been
paid or duly provided for, (semi-annually) (quarterly) (monthly) in arrears on                  and in each year, commencing
                , at the rate of                 % per annum, until the
principal hereof is paid or made available for payment (If applicable insert—, and (to the extent that the payment of such interest shall be legally enforceable) at the rate of
                % per annum on any overdue principal and premium and on any overdue installment of interest). The interest so payable, and punctually paid or duly
provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such
interest, which shall be the                  of (whether or not a Business Day), as the case maybe, next preceding such Interest Payment Date. Any such interest
not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the
close of business on a 

  

 13 

 
Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this
series not less than ten days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such
notice as may be required by such exchange, all as more fully provided in said Indenture.) 
  
 (If the Security is not to bear interest prior to Maturity, insert—The principal of this Security shall not bear interest except in the case of a default in payment of principal upon acceleration, upon redemption
or at Stated Maturity and in such case the overdue principal of this Security shall bear interest at the rate of                 % per annum (to the extent that
the payment of such interest shall be legally enforceable), which shall accrue from the date of such default in payment to the date payment of such principal has been made or duly provided for. Interest on any overdue principal shall be payable on
demand. Any such interest on any overdue principal that is not so paid on demand shall bear interest at the rate of                 % per annum (to the extent
that the payment of such interest shall be legally enforceable), which shall accrue from the date of such demand for payment to the date payment of such interest has been made or duly provided for, and such interest shall also be payable on demand.)

  
 Payment of the principal of, and premium, if any, and (if
applicable, insert—any such) interest on this Security will be made at the office or agency of the Company maintained for that purpose in                 ,
in Dollars (if applicable, insert—; provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register).

  
 Reference is hereby made to the further provisions of this
Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
  
 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security
shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
  
 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its corporate seal. 
  

									
	 	 	 	 	 Hughes Supply, Inc.

					
	 	 	 	 	 	 	By:	 	 
	 Attest:
	 	 	 	 	 	 	 	 
					
	 	 	 	 	 	 	 	 	 

  
 (SEAL) 
  

 14 

 Section 2.3 Form of Reverse of Security. 
  
 This Security is one of a duly authorized issue of securities of the Company
(herein called the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of                 , 200  
(herein called the “Indenture”), between the Company and
                                        ,
as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights,
limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series
designated on the face hereof (limited in aggregate principal amount to $                ). (If applicable, insert—The Securities of this series are subject
to redemption upon not less than 30 nor more than 45 days’ notice by first class mail, (if applicable, insert—(1) on                  in any year
commencing with the year                  and ending with the year
                 through operation of the sinking fund for this series at a Redemption Price equal to 100% of the principal amount, and (2)) at any time (on or
after                 ,), as a whole or in part, at the election of the Company, at the following Redemption Prices (expressed as percentages of the principal
amount): 
  
 If redeemed (on or before
                ,                 %, and if redeemed) during the 12-month
period beginning                  of the years indicated, Year
                 Redemption Price                  Year
                 Redemption Price and thereafter at a Redemption Price equal to
                 of the principal amount, together in the case of any such redemption (if applicable, insert — (whether through operation of the sinking fund
or otherwise)) with accrued and unpaid interest to the Redemption Date, but interest installments whose Stated Maturity is on or prior to such Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor Securities,
of record at the close of business on the relevant Record Dates referred to on the face hereof, all as provided in the Indenture.) 
  
 (If applicable, insert — The Securities of this series are subject to redemption upon not less than 30 nor more than 45 days’ notice by first
class mail, (1) on                  in any year commencing with the year
                 and ending with the year                  through
operation of the sinking fund for this series at the Redemption Prices for redemption through operation of the sinking fund (expressed as percentages of the principal amount) set forth in the table below, and (2) at any time (on or after
                ), as a whole or in part, at the election of the Company, at the Redemption Prices for redemption otherwise than through operation of the sinking
fund (expressed as percentages of the principal amount) set forth in the table below: 
  
 If redeemed during a 12-month period beginning                  of the years indicated, 
  

			
	Redemption Price for Redemption Through Operation of the Sinking Fund	 	Redemption Price for Redemption Otherwise than Through Operation of the Sinking Fund

  

 15 

 and thereafter at a Redemption Price equal to
             % of the principal amount, together in the case of any such redemption (whether through operation of the sinking fund or otherwise) with accrued and unpaid interest to
the Redemption Date, but interest installments whose Stated Maturity is on or prior to such Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor Securities, of record at the close of business on the relevant
Record Dates referred to on the face hereof, all as provided in the Indenture.) 
  
 (Notwithstanding the foregoing, the Company may not, prior to              redeem any Securities of this series as contemplated by (clause (2) of) the
preceding paragraph as a part of, or in anticipation of, any refunding operation by the application, directly or indirectly, of moneys borrowed having an interest cost to the Company (calculated in accordance with generally accepted financial
practice) of less than             % per annum.) 
  
 (The sinking fund for this series provides for the redemption on in each year beginning with the year
             and ending with the year              of (not less than)
$             ((“mandatory sinking fund”) and not more than $                
aggregate principal amount of Securities of this series.) (Securities of this series acquired or redeemed by the Company otherwise than through (mandatory) sinking fund payments may be credited against subsequent (mandatory) sinking fund payments
otherwise required to be made—in the (inverse) order in which they become due.) 
  
 (In the event of redemption of this Security in part only a new Security or Securities of this series for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof.)

  
 (If the Security is not an Original Issue Discount Security,
insert — If any Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the
Indenture.) (If the Security is an Original Issue Discount Security, insert — If an Event of Default with respect to Securities of this series shall occur and be continuing, an amount of principal of the Securities of this series may be
declared due and payable in the manner and with the effect provided in the Indenture. Such amount shall be equal — insert formula for determining the amount.) Upon payment (i) of the amount of principal so declared due and payable and (ii) of
interest on any overdue principal and overdue interest (in each case to the extent that the payment of such interest shall be legally enforceable), all of the Company’s obligations in respect of the payment of the principal of and interest, if
any, on the Securities of this series shall terminate. 
  
 This
Security is a subordinated and unsecured obligation of the Company and is subordinated and junior in right of payment to all other senior unsecured obligations of the Company. 
  
 This Security is subject to Defeasance as described in the Indenture. The Indenture may be modified by the Company and the
Trustee without consent of any Holder with respect to certain matters as described in the Indenture. In addition, the Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company 

  

 16 

 
and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of each series to be affected.
The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company
with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall bind such Holder and all future Holders of this Security and of any
Security issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
  
 No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the
obligation of the Company, which is absolute and unconditional, to pay the principal of, and premium, if any, and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 
  
 As provided in the Indenture and subject to certain limitations therein set
forth, the transfer of this Security is registrable in the Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of (and premium, if any) and interest
on this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by the Holder hereof or his attorney duly authorized in writing, and
thereupon one or more new Securities of this series, of authorized denominations and for the same Stated Maturity and aggregate principal amount, will be issued to the designated transferee or transferees. 
  
 The Securities of this series are issuable only in registered form without
coupons in denominations of $5,000 and any integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal
amount of Securities of this series of a different authorized denomination, as requested by the Holder surrendering the same. 
  
 No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith. 
  
 Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all
purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
  
 The Indenture imposes certain limitations on the ability of the Company to, among other things, merge or consolidate with any other Person or sell,
assign, transfer or lease all or substantially all of its properties or assets (If other covenants are applicable pursuant to the provisions of Section 3.1, insert here). All such covenants and limitations are subject to a number of important
qualifications and exceptions. The Company must report periodically to the Trustee on compliance with the covenants in the Indenture. 
  

 17 

 A director, officer, employee or stockholder, as such, of the Company shall not have any liability for
any obligations of the Company under this Security or the Indenture or for any claim based on, in respect of or by reason of, such obligations or their creation. Each Holder, by accepting a Security, waives and releases all such liability. The
waiver and release are part of the consideration for the issuance of this Security. 
  
 (If applicable, insert — Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures (“CUSIP”), the Company has caused CUSIP numbers to be printed on the
Securities of this series as a convenience to the Holders of the Securities of this series. No representation is made as to the correctness or accuracy of such numbers as printed on the Securities of this series and reliance may be placed only on
the other identification numbers printed hereon.) 
  
 All
capitalized terms used in this Security without definition which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 
  

 18 

 ASSIGNMENT FORM 
  

To assign this Security, fill in the form below: (I) or (we) assign and transfer this Security to 
  

	
	                                       
                                        
                                        
                                        
                                        
                                        
                   

	 (Insert assignee’s social security or tax I.D. number)
                                       
                                        
                                        
                                        
                                        
                                        
                   

	                                       
                                        
                                        
                                        
                                        
                                        
                   

	                                       
                                        
                                        
                                        
                                        
                                        
                   

	                                       
                                        
                                        
                                        
                                        
                                        
                   

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

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

									
					
	Dated:	 	 	 	 	 	 Your Signature:
	 	 
	 	 	 	 	 	 	 	 	 (Sign exactly as your name appears on the other side of this Security)

  

			
	 Signature Guaranty:
	  	 
	 	  	(Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Transfer Agent, which requirements will include membership or participation in
STAMP or such other “signature guarantee program” as may be determined by the Security Registrar in accordance with the Exchange Act.)

  
 Social Security Number or Taxpayer Identification Number: 
  
 Section 2.4 Form of Trustee’s Certificate of Authentication. 
  
 Dated:
                         
  
 This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 
  

			
	 
	as Trustee
		
	By:	 	 
	 	 	 Authorized Signatory

  
 Section 2.5 Securities in Global Form. 
  
 If
Securities of a series are issuable in global form, as contemplated by Section 3.1 below, then, notwithstanding the provisions of Section 3.2 below, any such Security shall represent such of the Outstanding Securities of such series as shall be
specified in this 

  

 19 

 
Indenture and may provide that it shall represent the aggregate amount of Outstanding Securities from time to time endorsed thereon and that the aggregate
amount of Outstanding Securities represented thereby may from time to time be reduced to reflect exchanges. Any endorsement of a Security in global form to reflect the amount, or any increase or decrease in the amount, of Outstanding Securities
represented thereby shall be made in such manner and upon instructions given by such Person or Persons as shall be specified therein or in the Company Order to be delivered to the Trustee pursuant to Section 3.3 below or Section 3.4 below. Subject
to the provisions of Section 3.3 below and, if applicable, Section 3.4 below, the Trustee shall deliver and redeliver any Security in permanent global form in the manner and upon instructions given by the Person or Persons specified therein or in
the applicable Company Order. If a Company Order pursuant to Section 3.3 below or 3.4 below has been, or simultaneously is, delivered, any instructions by the Company with respect to endorsement or delivery or redelivery of a Security in global form
shall be in writing but need not comply with Section 1.2 above and need not be accompanied by an Opinion of Counsel. 
  
 The provisions of Section 3.9 below shall apply to any Security represented by a Security in global form if such Security was never issued and sold by the
Company and the Company delivers to the Trustee the Security in global form together with written instructions (which need not comply with Section 1.2 above and need not be accompanied by an Opinion of Counsel) with regard to the reduction in the
principal amount of Securities represented thereby. 
  
 Notwithstanding the provisions of Sections 2.1 above and 3.7 below, unless otherwise specified as contemplated by Section 3.1 below, payment of principal of, premium, if any, and interest on any Security in permanent global form shall be
made to the Person or Persons specified therein. 
  
 Notwithstanding the provisions of Section 3.8 below and except as provided in the preceding paragraph, the Company, the Trustee and any agent of the Company and the Trustee shall treat a Person as the Holder of such principal amount of
Outstanding Securities represented by a permanent global Security as shall be specified in a written statement of the Holder of such permanent global Security. 
  

Section 2.6 CUSIP Number. 
  
 The Company in issuing Securities of any series may use a “CUSIP” number, and, if so, the Trustee may use the CUSIP number in notices of
redemption or exchange as a convenience to Holders of such series; provided, that any such notice may state that no representation is made as to the correctness or accuracy of the CUSIP number printed on the notice or on the Securities of such
series, 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 Company will promptly notify the Trustee of
any change in the CUSIP number of any series of Securities. 
  
 Section 2.7 Form of Legend for the Securities in Global Form. 
  
 Any Security in global form authenticated and delivered hereunder shall bear a legend in substantially the following form: 
  
 “This Security is in global form within the meaning of the Indenture
hereinafter referred to and is registered in the name of a Common Depositary or a U.S. Depositary. Unless and until it is exchanged in whole or in part for Securities in certificated form, this Security may not be transferred except as a whole by
the Common Depositary or a U.S. Depositary or by a nominee of the Common Depositary or a nominee of the U.S. Depositary as the case may be.” 
  

 20 

 ARTICLE III 
  
 THE SECURITIES 
  
 Section 3.1 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 from time to time in one or more
series. All Securities of any one series need not be issued at the same time and, unless otherwise provided in this Indenture or any supplemental indenture, a series may be reopened, without the consent of the Holders of the Securities of that
series, for issuances of additional Securities of that series. All Securities of a particular series shall be substantially identical except as to the date of issuance, issue price and, if applicable, the date from which interest shall accrue. There
shall be established in or pursuant to a Board Resolution, and set forth in an Officer’s Certificate, or established in one or more indentures supplemental hereto, prior to the issuance of Securities of any series: 
  
 (a) the title of the Securities of the series (which shall
distinguish the Securities of the series from all other Securities); 
  
 (b) 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 Sections 3.4, 3.5, 3.6, 9.6 or 11.7 below); 
  
 (c) whether any Securities of the series are to be issuable in permanent global form with or without coupons and, if so, (i) whether
beneficial owners of interests in any such permanent global security may exchange such interests for Securities of such series and of like tenor of any authorized form and denomination and the circumstances under which any such exchanges may occur,
if other than in the manner provided in Section 3.5 below, and (ii) the name of the Common Depositary (as defined in Section 3.4 below) or the U.S. Depositary, as the case may be, with respect to any global security; 
  
 (d) the date or dates on which the principal of the
Securities of the series is payable; 
  
 (e) the
rate or rates at which the Securities of the series shall bear interest (including reset rates, if any, and the method by which such rate will be determined), if any, the date or dates from which such interest shall accrue, the Interest 

  

 21 

 
Payment Dates on which such interest shall be payable and the Regular Record Date for the interest payable on any Interest Payment Date and, if applicable to
such series of Securities, the basis points and United States Treasury rate(s) and any other rates or other methods to be used in calculating the reset rate; 
  

(f) the place or places where the principal of (and premium, if any) and interest on Securities of the series shall be payable and
where the Company will maintain an office or agency where Securities may be presented for registration of transfer or exchange and the place or places where notices and demands to or upon the Company in respect of Securities and this Indenture may
be made; 
  
 (g) the right of the Company, if
any, to defer any payment of principal of, premium, or interest on the Securities of the series, and the maximum length of any such deferral period which shall not exceed the Stated Maturity for the final installment of principal on the Securities
of such series; 
  
 (h) the period or periods
within which, the price or prices at which the currency or currency units and the terms and conditions upon which Securities of the series may be redeemed, in whole or in part, at the option of the Company, pursuant to any sinking fund or otherwise;

  
 (i) the obligation, if any, of the Company 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, the currency or currency units 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, and, where applicable, the obligation of the Company to select the Securities to be redeemed; 
  
 (j) if other than denominations of $5,000 and any integral
multiples of $1,000 in excess thereof, the denominations in which Securities of the series shall be issuable; 
  
 (k) 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 5.2 below; 
  
 (l) any additions, modifications or deletions in the Events of Default with respect to Securities of the series, if any, other than those
set forth in this Indenture; 
  
 (m) if either or
both of Section 13.2 and Section 13.3 below shall be inapplicable to the Securities of the series (provided that if no such inapplicability shall be specified, then both Section 13.2 and Section 13.3 below shall be applicable to the Securities of
the series); 
  
 (n) if other than U.S. dollars,
the currency or currencies or units based on or related to currencies in which the Securities of such series shall be denominated and in which payments or principal of, and any premium and interest on, such Securities shall or may by payable;

  

 22 

 (o) additions, modifications or deletions of the Company’s covenants with respect to
Securities of the series, if any, other than those set forth herein; 
  
 (p) if other than the Trustee, the identity of the Registrar and any Paying Agent; 
  
 (q) the appointment of a Person as a Trustee which meets the requirements of Section 6.9 below with respect to Securities of the series;

  
 (r) any index or indices used to determine
the amounts of payments of principal of and premium, if any, on the Securities and the manner in which such amounts will be determined; 
  
 (s) the terms and conditions of any obligation or right of the Company or a Holder to exchange or convert Securities into other
securities; 
  
 (t) whether and under what
circumstances the Company will pay additional amounts on the Securities of the series held by a Person in respect of any tax, assessment or governmental charge withheld or deducted and, if so, whether the Company will have the option to redeem such
Securities rather than pay such additional amounts; 
  
 (u) any other terms of the series (which terms shall not be inconsistent with the provisions of this Indenture). 
  
 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 Officer’s Certificate or in any such Indenture supplemental hereto. 
  
 If any of the terms of the series are established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be
certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officer’s Certificate setting forth, or providing the manner for determining, the terms of the Securities of
such series. 
  
 Section 3.2
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 3.1 above. 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 $5,000 and any integral multiples of $1,000 in excess thereof. 
  
 Section 3.3 Execution, Authentication, Delivery and Dating. 
  
 The Securities shall be executed on behalf of the Company by its Chairman of the Board, its Vice 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. The seal of the
Company may be in the form of a facsimile thereof and may be 

  

 23 

 
impressed, affixed, imprinted or otherwise reproduced on the Securities. Typographical and other minor errors or defects in any such reproduction of the seal
or any such signature shall not affect the validity or enforceability of any security that has been duly authenticated and delivered by the Trustee. 
  
 Securities bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company shall bind the Company,
notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities. 
  
 At any time and from time to time after the execution and delivery of this
Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities, and the Trustee in accordance with the
Company Order shall authenticate and make such Securities available for delivery. If the form or terms of the Securities of the series have been established in or pursuant to one or more Board Resolutions as permitted by Sections 2.1 and 3.1 above,
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 Sections 315(a) through (d) of the Trust Indenture Act)
shall be fully protected in relying upon, an Opinion of Counsel stating, 
  
 (a) if the form of such Securities has been established by or pursuant to Board Resolution as permitted by Section 2.1 above, that such form has been established in conformity with the provisions of this Indenture;

  
 (b) if the terms of such Securities have been
established by or pursuant to Board Resolution as permitted by Section 3.1 above, that such terms have been established in conformity with the provisions of this Indenture; 
  
 (c) that such Securities, when authenticated and delivered by the Trustee and issued by the Company in the
manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company, enforceable in accordance with their terms, except to the extent enforceability may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium and other similar laws affecting the enforcement of creditors’ rights generally and by the effect of general principles of equity (regardless of whether enforceability is considered
in a proceeding in equity or at law); and 
  
 (d)
that no consent, approval, authorization, order, registration or qualification of or with any court or any governmental agency or body having jurisdiction over the Company is required for the execution and delivery of such Securities by the Company,
except such as have been obtained (except that no opinion need be expressed as to state securities or Blue Sky laws). 
  
 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, or in the written opinion of counsel to the Trustee
(which counsel may be an employee of the 

  

 24 

 
Trustee) such authentication may not lawfully be made or would involve the Trustee in personal liability. 
  
 Notwithstanding the provisions of Section 3.1 above and of the immediately
preceding paragraph, if all Securities of a series are not to be originally issued at one time, it shall not be necessary to deliver the Officer’s Certificate otherwise required pursuant to Section 3.1 above or the Company Order and Opinion of
Counsel otherwise required pursuant to the immediately preceding paragraph 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. 
  
 If the Company
shall establish pursuant to Section 3.1 above that the Securities of a series are to be issued in the form of one or more global Securities, then the Company shall execute and the Trustee shall, in accordance with this Section 3.3 and the Company
Order with respect to the authentication and delivery of such series, authenticate and deliver one or more global Securities that (i) shall be in an aggregate amount equal to the aggregate principal amount specified in such Company Order, (ii) shall
be registered in the name of the Common Depositary or U.S. Depositary, as the case may be, therefor or its nominee, and (iii) shall be made available for delivery by the Trustee to such depositary or pursuant to such depositary’s instruction.

  
 Each depositary designated pursuant to Section 3.1 above must,
at the time of its designation and at all times while it serves as depositary, be a clearing agency registered under the Exchange Act and any other applicable statute or regulation. 
  
 Unless otherwise provided for in the form of security, 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 under this Indenture and is entitled to the benefits of this Indenture. 
  
 Section 3.4 Temporary Securities. 
  
 Pending the preparation of definitive Securities of any series, the Company
may execute, and upon Company Order the Trustee shall authenticate and make available for delivery, temporary Securities which are printed, lithographed, typewritten, mimeographed 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. 
  
 In the case of Securities of any series,
such temporary Securities may be in global form, representing all or a portion of the Outstanding Securities of such series. 
  

 25 

 Except in the case of temporary Securities in global form (which shall be exchanged in accordance with
the provisions of Section 3.5 below), if temporary Securities of any series are issued, the Company will cause definitive Securities of that series to be prepared without unreasonable delay. After the preparation of definitive Securities of such
series, the temporary Securities of such series shall be exchangeable for definitive Securities of such series upon surrender of the temporary Securities of such series at the office or agency of the Company in a Place of Payment for that series,
without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series, the Company shall execute and the Trustee shall authenticate and make available for delivery in exchange therefor a like principal
amount of definitive Securities of the same series of authorized denominations and of like tenor. 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. 
  
 If temporary Securities of any
series are issued in global form, any such temporary global Security shall, unless otherwise provided therein, be delivered to the office of a depositary or common depositary (the “Common Depositary”) for credit to the respective accounts
of the beneficial owners of such Securities (or to such other accounts as they may direct). 
  
 Section 3.5 Registration, Registration of Transfer and Exchange. 
  
 The Company shall cause to be kept at the Corporate Trust Office of the Trustee a register (the register maintained in such
office and in any other office or agency of the Company in a Place of Payment being in this Indenture sometimes collectively referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the
Company shall provide for the registration of Securities and of registration of transfers of Securities. The Trustee is hereby appointed “Security Registrar” for the purpose of registering Securities and transfers of Securities as in this
Indenture provided. 
  
 Upon surrender for registration of
transfer of any security of any series at the office or agency of the Company in Place of Payment for that series, the Company shall execute, and the Trustee shall authenticate and make available for delivery, 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. 
  
 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 a like aggregate principal amount and Stated Maturity, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange, the Company shall execute, and
the Trustee shall authenticate and make available for delivery, the Securities which the Holder making the exchange is entitled to receive. 
  
 Any global Security of a series initially shall (i) be registered in the name of the Common Depositary or the U.S. Depositary, who shall be identified in a supplemental
indenture with respect to such series of Securities or pursuant to the Board Resolution authorizing the issuance of such series of Securities or the nominee of such depositary, (ii) be delivered to the Trustee as custodian for such depositary and
(iii) bear any required legends. 
  

 26 

 Members of, or participants in, the depositary (“Agent Members”) shall have no rights under
this Indenture with respect to any global Security held on their behalf by the depositary, or the Trustee as its custodian, or under the global Security, and the depositary may be treated by the Company, the Trustee and any agent of the Company or
the Trustee as the absolute owner of the global Security for all purposes whatsoever. 
  
 Transfers of any global Security shall be limited to transfers in whole, but not in part, to the depositary, its successors or their respect nominees. Interests of beneficial owners in the global Security may be
transferred or exchanged for definitive Securities in accordance with the rules and procedures of the depositary. Definitive Securities shall be transferred to all beneficial owners in exchange for their beneficial interests in a global Security
only if (i) the depositary notifies the Company that it is unwilling or unable to continue as depositary for the global Security, or the depositary has ceased to be a “clearing agency” registered under the Exchange Act, and a successor
depositary is not appointed by the Company within 90 days of such notice, (ii) the Company in its sole discretion elects not to have the Securities represented by a global Security and to cause the issuance of definitive Securities or (iii) an Event
of Default has occurred and is continuing. 
  
 In connection with
any transfer or exchange of a portion of the beneficial interest in any global Security to beneficial owners pursuant to paragraph (b), the Security Registrar shall (if one or more definitive Securities are to be issued) reflect on the Security
Register the date and a decrease in the principal amount of the global Security in an amount equal to the principal amount of the beneficial interest in the global Security to be transferred, and the Company shall execute, and the Trustee shall
authenticate and deliver, one or more definitive Securities of like tenor and amount. 
  
 In connection with the transfer of an entire global Security to beneficial owners pursuant to paragraph (b), the global Security shall be deemed to be surrendered to the Trustee for cancellation, and the Company shall
execute, and the Trustee shall authenticate and deliver, to each beneficial owner identified by the depositary in exchange for its beneficial interest in the global Security, an equal aggregate principal amount of definitive Securities of authorized
denominations. If the beneficial owners of interests in a permanent global security are entitled to exchange such interests for Securities of such series and of like tenor and principal amount of another authorized form and denomination, as
specified and as subject to the conditions contemplated by Section 3.1 above, then without unnecessary delay but in any event not later than the earliest date on which such interests may be so exchanged, the Company shall deliver to the Trustee
definitive Securities of that series in aggregate principal amount equal to the principal amount of such permanent global security, executed by the Company. On or after the earliest date on which such interests may be so exchanged, such permanent
global Securities shall be surrendered from time to time by the Common Depositary or the U.S. Depositary, as the case may be, and in accordance with instructions given to the Trustee and the Common Depositary or the U.S. Depositary, as the case may
be (which instructions shall be in writing but need not comply with Section 1.2 above or be accompanied by an Opinion of Counsel), as shall be specified in the Company Order with respect thereto to the Trustee, as the Company’s agent for such
purpose, to be exchanged, in whole or in part, for definitive Securities of the same series without charge. The Trustee shall authenticate and make available for delivery, in exchange for each portion of such surrendered permanent global security, a
like aggregate principal amount of definitive Securities of the same series of 

  

 27 

 
authorized denominations and of like tenor as the portion of such permanent global security to be exchanged which shall be in the form of the Securities of
such series; provided, however, that no such exchanges may occur 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
11.3 below and ending at the close of business on the day of such mailing. Promptly following any such exchange in part, such permanent global Security shall be returned by the Trustee to the Common Depositary or the U.S. Depositary, as the case may
be, or such other Common Depositary or U.S. Depositary referred to above in accordance with the written instructions of the Company referred to above. If a Security in the form specified for such series is issued in exchange for any portion of a
permanent global Security after the close of business at the office or agency where such exchange occurs on (i) any Regular Record Date and before the opening of business at such office or agency on the relevant Interest Payment Date, or (ii) any
Special Record Date and before the opening of business at such office or agency on the related proposed date for payment of interest or Defaulted Interest, as the case may be, such interest or Defaulted Interest will not be payable on such Interest
Payment Date or proposed date for payment, as the case may be, in respect of such security in the form specified for such series, but will be payable on such Interest Payment Date or proposed date for payment, as the case may be, only to the Person
to whom interest in respect of such portion of such permanent global Security is payable in accordance with the provisions of this Indenture. 
  
 All Securities issued upon any registration of transfer or exchange of Securities shall be the valid obligation, of the Company, 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 Company or the Trustee) be duly
endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed, by the Holder thereof or his attorney duly authorized in writing. 
  
 Unless otherwise provided in the Securities to be transferred or exchanged,
no service charge shall be made for any registration of transfer or exchange of Securities, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration
of transfer or exchange of Securities, other than exchanges pursuant to Section 3.4 above, 9.6 or 11.7 below not involving any transfer. 
  
 The Company 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 11.3 below and ending at the close of business on the day of such mailing, or (ii) to register the transfer
of or exchange any security so selected for redemption in whole or in part, except the unredeemed portion of any security being redeemed in part. 
  

 28 

 Section 3.6 Mutilated, Destroyed, Lost and Stolen Securities. 
  
 If any mutilated Security is surrendered to the Trustee, the Company 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 Company and the Trustee (i) evidence to
their satisfaction of the destruction, loss or theft of any Security and (ii) such security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the
Trustee that such Security has been acquired by a bona fide purchaser, the Company shall execute 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. 
  
 In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, the Company in its discretion may,
instead of issuing a new Security, pay such Security. 
  
 Upon the
issuance of any new Security under this Section 3.6, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and
expenses of the Trustee) connected therewith. 
  
 Every new
Security of any series issued pursuant to this Section 3.6 in lieu of any destroyed, lost or stolen Security shall constitute an original additional contractual obligation of the Company, 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 under this Indenture. 
  
 The provisions of this Section 3.6 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 3.7 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 at the Place of Payment 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, except that at the option of the Company payment
may be made (i) except in the case of a global Security by check mailed to the address of the Person entitled thereto as such address appears in the Securities Register or (ii) by transfer to an account maintained by the Person entitled thereto as
specified in the Securities Register provided that proper transfer instructions have been received by the Regular Record Date. 
  

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 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 (in this Indenture called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may
be paid by the Company, at its election in each case, as provided in clause (a) or (b) below: 
  
 (a) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their
respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the
amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be
paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to
such Defaulted Interest as in this Section 3.7. 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 ten days prior to the date of the proposed
payment and not less than ten days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause
notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such series at his address as it appears in the Security Register, not less
than ten 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 (b). 
  
 (b) The Company may make payment of any Defaulted Interest
on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by
the Company to the Trustee of the proposed payment pursuant to this Section 3.7, such manner of payment shall be deemed practicable by the Trustee. 
  
 Subject to the foregoing provisions of this Section 3.7, 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 3.8 Persons Deemed Owners. 
  
 Prior to due presentment of a Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the
Person in whose name such Security is registered as the owner of such Security for the purpose of receiving 

  

 30 

 
payment of principal of (and premium, if any) and (subject to Section 3.7 above) interest on such Security and for all other purposes whatsoever, whether or
not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 
  
 None of the Company, the Trustee or any agent of the Company or the Trustee shall have any responsibility or liability for any aspect of the records
relating to or payments made on account of beneficial ownership interest of a Security in global form, or for maintaining, supervising or reviewing any records relating to such beneficial ownership interest. Notwithstanding the foregoing, with
respect to any Security in global form, nothing in this Indenture shall prevent the Company or the Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by any U.S.
Depositary or Common Depositary (or its nominee), as a Holder, with respect to such Security in global form or impair, as between such U.S. Depositary or Common Depositary and owners of beneficial interests in such Security in global form, the
operation of customary practices governing the exercise of the right of such U.S. Depositary or Common Depositary (or its nominee) as holder of such Security in global form. 
  
 Section 3.9 Cancellation. 
  
 All Securities surrendered for payment, redemption, registration of transfer or exchange or for credit against any sinking fund payment shall, if
surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered under this
Indenture which the Company may have acquired in any manner whatsoever, and all Securities so delivered shall be promptly cancelled by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as
provided in this Section 3.9, except as expressly permitted by this Indenture. All cancelled Securities shall be held by the Trustee and may be destroyed (and, if so destroyed, certification of their destruction shall be delivered to the Company
upon its request, unless, by a Company Order, the Company shall direct that cancelled Securities be returned to it). 
  
 Section 3.10 Computation of Interest. 
  
 Except as otherwise specified as contemplated by Section 3.1 above for Securities of any series, interest on the Securities of each series shall be
computed on the basis of a 360-day year consisting of twelve 30-day months. 
  

 31 

 ARTICLE IV 
  

SATISFACTION AND DISCHARGE 
  
 Section 4.1 Satisfaction and Discharge of Indenture. 
  
 This Indenture shall cease to be of further effect (except as to any surviving rights of registration of transfer or exchange of Securities in this
Indenture expressly provided for or in the form of Security for such series), when the Trustee, upon Company Request and at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when

  
 (a) all Securities heretofore 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 3.6 above and (ii) Securities for whose payment money has to this Indenture fore been deposited in trust or segregated
and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 10.8) have either: 
  
 (i) been delivered to the Trustee for cancellation; or 
  
 (ii) (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 Company, and the Company, in the case of (A),
(B) or (C) immediately preceding, has 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 to this Indenture fore delivered to the Trustee for
cancellation, 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 the Stated Maturity or Redemption Date, as the case may be; 
  
 (b) the Company has paid or caused to be paid all other sums payable under
this Indenture by the Company; and 
  
 (c) the Company has
delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent provided for in this Indenture relating to the satisfaction and discharge of this Indenture have been complied with.

  
 Notwithstanding the satisfaction and discharge of this
Indenture, the obligations of the Company to the Trustee under Section 6.7 below, the obligations of the Company to any Authenticating Agent under Section 6.14 below and, if money shall have been deposited with the Trustee pursuant to subclause (ii)
of clause (a) of this Section 4.1, the obligations of the Trustee under Section 4.2 below and the last paragraph of Section 10.8 below shall survive. 
  
 Section 4.2 Application of Trust Money. 
  
 Subject to the provisions of the last paragraph of Section 10.8 below, all money deposited with the Trustee pursuant to Section 4.1 above shall be held in
trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its 

  

 32 

 
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 or received by the Trustee. 
  
 ARTICLE V 
  
 REMEDIES 
  
 Section 5.1 Events of Default. 
  
 “Event of Default,” wherever used in this Indenture 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 to 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): 
  
 (a) the Company defaults in the payment of interest or any sinking fund payment on any Security of that series when such interest becomes
due and payable and the default continues for a period of 30 days; provided, however, that if the Company is permitted by the terms of the Securities of the applicable series to defer the payment in question, the date on which such payment is due
and payable shall be the date on which the Company is required to make payment following such deferral, if such deferral has been elected pursuant to the terms of the Securities; or 
  
 (b) the Company defaults in the payment of the principal of (or premium, if any, on) any Security of that
series when the same becomes due and payable at Maturity, upon redemption (including redemptions under Article XI below), by declaration or otherwise; provided, however, that if the Company is permitted by the terms of the Securities of the
applicable series to defer the payment in question, the date on which such payment is due and payable shall be the date on which the Company is required to make payment following such deferral, if such deferral has been elected pursuant to the terms
of the Securities; or 
  
 (c) the Company fails
to observe or perform any of its other covenants, warranties or agreements in the Securities of that series or in this Indenture (other than a covenant, agreement or warranty a default in whose performance or whose breach is elsewhere in this
Section 5.1 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 the failure to observe or perform continues for the period and after the notice
specified in the last paragraph of this Section 5.1; or 
  
 (d) any event of default, as defined in any other indenture, mortgage, or instrument under which there may be issued, or by which there may be secured or evidenced, any Indebtedness of the Company (whether such
Indebtedness now exists or shall hereafter be created or incurred) shall occur and shall consist of default in the payment of such Indebtedness at the maturity thereof (after giving effect to any applicable grace period) or shall result in
Indebtedness becoming or being declared due and payable prior to the date on which it would otherwise become due and payable, and such default in payment is not cured or such acceleration shall not be rescinded or annulled within 30 days 

  

 33 

 
after written notice to the Company from the Trustee or to the Company and to the Trustee from the Holders of at least 25% in aggregate principal amount of
the Securities of that series at the time outstanding; provided that it shall not be an Event of Default if the principal amount of Indebtedness (other than Indebtedness represented by Securities issued pursuant to this Indenture) which is not paid
at maturity or the maturity of which is accelerated is less than or equal to $15 million provided further that if, prior to a declaration of acceleration of the maturity of the Securities of that series or the entry of judgment in favor of the
Trustee in a suit pursuant to Section 5.3 below, such default shall be remedied or cured by the Company or waived by the holders of such Indebtedness, then the Event of Default under this Indenture by reason thereof shall be deemed likewise to have
been thereupon remedied, cured or waived without further action upon the part of either the Trustee or any of the Holders of the Securities of that series, and provided further, that, subject to Sections 6.1 and 6.2 below, the Trustee shall not be
charged with knowledge of any such default unless written notice of such default shall have been given to the Trustee by the Company, by a holder or an agent of a holder of any such Indebtedness, by the trustee then acting under any indenture or
other instrument under which such default shall have occurred, or by the Holders of at least five percent in aggregate principal amount of the Securities of that series at the time Outstanding; or 
  
 (e) the Company or any Significant Subsidiary pursuant to or
within the meaning of any Bankruptcy Law (A) commences a voluntary case or proceeding under any Bankruptcy Law with respect to itself, (B) consents to the entry of a judgment, decree or order for relief against it in an involuntary case or
proceeding under any Bankruptcy Law, (C) consents to or acquiesces in the institution of bankruptcy or insolvency proceedings against it, (D) applies for, consents to or acquiesces in the appointment of or taking possession by a Custodian or for any
material part of its property, (E) makes a general assignment for the benefit of its creditors or (F) takes any corporate action in furtherance of or to facilitate, conditionally or otherwise, any of the foregoing; or 
  
 (f) (i) a court of competent jurisdiction enters a judgment,
decree or order for relief in respect of the Company or any Significant Subsidiary in an involuntary case or proceeding under any Bankruptcy Law which shall (A) approve as properly filed a petition seeking reorganization, arrangement, adjustment or
composition in respect of the Company, (B) appoint a Custodian of the Company or any Significant Subsidiary or for any material part of its property, or (C) order the winding-up or liquidation of its affairs, and such judgment, decree or order shall
remain unstayed and in effect for a period of 60 consecutive days; or (ii) any bankruptcy or insolvency petition or application is filed, or any bankruptcy or insolvency proceeding is commenced against the Company or any Significant Subsidiary and
such petition, application or proceeding is not dismissed within 60 days; or (iii) a warrant of attachment is issued against any material portion of the property of the Company which is not released within 60 days of service; or 
  
 (g) any other Event of Default provided with respect to
Securities of that series. 
  
 A Default under clause (c) above is
not an Event of Default until the Trustee or the Holders of at least 25% in aggregate principal amount of the Outstanding Securities of that series notify the Company of the Default and the Company does not cure the Default within 90 days after
receipt of the notice. The notice must specify the Default, demand that it be 

  

 34 

 
remedied and state that the notice is a “Notice of Default.” When a Default under clause (c) above is cured within such 90-day period, it ceases.

  
 Section 5.2 Acceleration of Maturity; Rescission and Annulment.

  
 If an Event of Default with respect to Securities of any
series (other than an Event of Default specified in clause (e) or (f) of Section 5.1 above) occurs and is continuing, the Trustee by notice in writing to the Company, or the Holders of at least 25% in aggregate principal amount of the Outstanding
Securities of that series by notice in writing to the Company and the Trustee, may declare the unpaid principal of, premium, if any, and accrued interest to the date of acceleration (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) on all the Outstanding Securities of that series to be due and payable immediately and, upon any such declaration, the Outstanding Securities of that
series (or specified principal amount) shall become and be immediately due and payable. 
  
 If an Event of Default specified in clause (e) or (f) of Section 5.1 above occurs, all unpaid principal of, premium, if any, and accrued interest on the Outstanding Securities of that series (or specified principal
amount) shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder of any Security of that series. 
  
 Upon payment of all such principal, premium, if any, and interest, all of the Company’s obligations under the
Securities of that series and (upon payment of the Securities of all series) this Indenture shall terminate, except obligations under Section 6.7 below. 
  
 The Holders of a majority in principal amount of the Outstanding Securities of that series by notice to the Trustee may rescind an acceleration and its
consequences if (i) all existing Events of Default, other than the nonpayment of the principal, premium, if any, and interest of the Securities of that series that has become due solely by such declaration of acceleration, have been cured or waived,
(ii) to the extent the payment of such interest is lawful, interest on overdue installments of interest and overdue principal that has become due otherwise than by such declaration of acceleration have been paid, (iii) the rescission would not
conflict with any judgment or decree of a court of competent jurisdiction and (iv) all payments due to the Trustee and any predecessor Trustee under Section 6.7 below have been made. 
  
 Section 5.3 Collection of Indebtedness and Suits for Enforcement by Trustee. 
  
 The Company covenants that if: 
  
 (a) default is made in the payment of any interest on any
Security of any series when such interest becomes due and payable and such default continues for a period of 30 days, or 
  
 (b) default is made in the payment of the principal of (or premium, if any, on) any Security of any series at the Maturity thereof, the
Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Securities, the whole amount 

  

 35 

 
then due and payable on such Securities for principal (and premium, if any) and interest 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
reasonable costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 
  

If the Company 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 Company 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 Company 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 in this Indenture, or to secure any other proper remedy. 
  
 Section 5.4 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 Company or any other obligor upon the Securities or the property of the Company 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 in this Indenture expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the payment of overdue principal or interest) shall be entitled and empowered, by
intervention in such proceeding or otherwise, 
  
 (a) to file and prove a claim for the whole amount of principal (and premium, if any) and interest owing and unpaid in respect of the Securities and to file such other papers or documents as may be necessary or advisable in order to have
the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agent and counsel) and of the Holders allowed in such judicial proceedings, and 
  
 (b) to collect and receive any moneys or other property
payable or deliverable on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such
payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, 

  

 36 

 
expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 6.7 below. 
  
 Nothing in this Indenture 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. 
  
 Section 5.5 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 5.6 Application of Money Collected. 
  
 Any money collected by the Trustee pursuant to this Article V in respect of the Securities of any series 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 in respect of which moneys have been collected 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 6.7 below applicable to such series; 
  
 Second: To the payment of the amounts then due and unpaid for principal of (and premium, if any) and interest on the Securities of such series 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 of such series for principal (and premium, if any) and interest,
respectively; and 
  
 Third: To the Company. 
  
 The Trustee may fix a record date and payment date for any payment to Holders
pursuant to this Section 5.6. At least 15 days before such record date, the Trustee shall mail to each Holder and the Company a notice that states the record date, the payment date and the amount to be paid. 
  
 Section 5.7 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 under this Indenture, unless: 
  
 (a) such Holder has previously given written notice to the Trustee of a continuing Event of Default with
respect to the Securities of that series; 
  

 37 

 (b) the Holders of not less than 25% in principal amount of the Outstanding Securities of
that series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee under this Indenture; 
  
 (c) 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; 
  
 (d) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding; and 
  
 (e) 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 Holders of Securities of any series 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 in this Indenture provided and for the equal and ratable benefit of all Holders of Securities of the affected series. 
  
 Section 5.8 Unconditional Right of Holders to Receive Principal, Premium and Interest. 
  
 Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute
and unconditional, to receive payment of the principal of (and premium, if any) and (subject to Section 3.7 above) 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 to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder. 
  
 Section 5.9 Restoration of Rights and Remedies. 
  
 If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued
or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the Trustee and the Holders shall be restored severally and
respectively to their former positions under this Indenture and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding has been instituted. 
  
 Section 5.10 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 3.6 above, no right or remedy in this Indenture conferred upon or reserved to the Trustee or to the 

  

 38 

 
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 under this Indenture or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy under this Indenture, or otherwise, shall not prevent the
concurrent assertion or employment of any other appropriate right or remedy. 
  
 Section 5.11 Delay or Omission Not Waiver. 
  
 No
delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence in
this Indenture. 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 5.12 Control by Holders. 
  
 (a) 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: 
  
 (a) such
direction shall not be in conflict with any rule of law or with this Indenture; 
  
 (b) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction; and 
  
 (c) subject to Section 6.1 below, the Trustee need not take
any action which might involve the Trustee in personal liability or be unduly prejudicial to the Holders not joining in this Indenture. 
  
 Section 5.13 Waiver of Past Defaults. 
  
 (a) The Holders of not less than a majority in principal amount of the Outstanding Securities of any series may by written notice to the Trustee on behalf
of the Holders of all the Securities of such series waive any Default or Event of Default with respect to such series and its consequences, except a Default or Event of Default: (i)in respect of the payment of the principal of (or premium, if any)
or interest on any Security of such series; or (ii) in respect of a covenant or other provision of this Indenture which under Article IX cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series
affected; or 
  
 (b) Upon any such waiver, such Default or Event
of Default shall cease to exist and shall be deemed to have been cured, for every purpose of this Indenture and the Securities of such series; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right
consequent thereon. 
  

 39 

 Section 5.14 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 5.14 shall not apply to any suit instituted by the Company, 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). 
  
 ARTICLE VI 
  
 THE TRUSTEE 
  
 Section 6.1 Certain Duties and Responsibilities of the Trustee. 
  
 (a) Except during the continuance of an Event of Default, the Trustee’s duties and responsibilities under this Indenture shall be
governed by Section 315(a) of the Trust Indenture Act. 
  
 (b) In case an Event of Default has occurred and is continuing, and is known to the Trustee, the Trustee shall exercise the rights and powers vested in it by this Indenture, and shall 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) None of the provisions of Section 315(d) of the Trust Indenture Act shall be excluded from this Indenture. 
  
 Section 6.2 Notice of Defaults. 
  
 Within 30 days after the occurrence of any Default or Event of Default with
respect to the Securities of any series, the Trustee shall give to all Holders of Securities of such series, as their names and addresses appear in the Security Register, notice of such Default or Event of Default known to the Trustee, unless such
Default or Event of Default shall have been cured or waived; provided, however, that, except in the case of a Default or Event of 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 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 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. 
  

 40 

 Section 6.3 Certain Rights of Trustee. 
  
 Subject to the provisions of the Trust Indenture Act: 
  
 (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 Company mentioned in this Indenture shall be sufficiently evidenced by a Company Request or Company Order 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 under this Indenture, the Trustee (unless other evidence be in this Indenture specifically prescribed) may, in the absence of
bad faith on its part, rely upon an Officer’s Certificate; 
  
 (d) the Trustee may consult with counsel and the written advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by
it under this Indenture 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 security or indemnity to its reasonable satisfaction against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction; 
  
 (f) prior to the occurrence of an Event of Default with
respect to the Securities of any series and after the curing or waiving of all such Events of Default which may have occurred, 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, approval or other paper or document, or the books and records of the Company, unless requested in writing to do so by the Holders of a majority in principal amount
of the Outstanding Securities of any series; provided, however, that if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is not, in the opinion
of the Trustee, reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require reasonable indemnity against such costs, expenses or liabilities as a condition to so proceeding; the reasonable
expense of every such investigation shall be paid by the Company or, if paid by the Trustee, shall be repaid by the Company upon demand; 
  
 (g) the Trustee may execute any of the trusts or powers under this Indenture or perform any duties under this Indenture either directly or
by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or 

  

 41 

 
negligence on the part of any agent or attorney appointed with due care by it under this Indenture; and 
  
 (h) the Trustee shall not be required to expend or risk its
own funds or otherwise incur any financial liability in the performance of any of its duties under this Indenture, or in the exercise 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. 
  
 Section 6.4 Not Responsible for Recitals or Issuance of Securities. 
  
 The recitals in this Indenture and in the Securities, except the Trustee’s certificates of authentication, shall be taken as the statements of the Company, and the Trustee or any Authenticating Agent assumes no
responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities. Neither the Trustee nor any Authenticating Agent shall be accountable for the use or application by
the Company of Securities or the proceeds thereof. 
  
 Section 6.5 May Hold
Securities. 
  
 The Trustee, any Authenticating Agent, any
Paying Agent, any Security Registrar or any other agent of the Company, in its individual or any other capacity, may become the owner or pledgee of Securities and, subject to Sections 6.8 and 6.13 below, may otherwise deal with the Company with the
same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, Security Registrar or such other agent. 
  
 Section 6.6 Money Held in Trust. 
  
 Money held by the Trustee in trust under this Indenture (including amounts held by the Trustee as Paying Agent) 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 under this Indenture except as otherwise agreed upon in writing with the Company. 
  
 Section 6.7 Compensation and Reimbursement. 
  
 The Company agrees: 
  
 (a) to pay to the Trustee from time to time reasonable
compensation for all services rendered by it under this Indenture (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 
  
 (b) except as otherwise expressly provided in this
Indenture, 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 
  
 (c) to indemnify the Trustee for, and to hold it harmless against, any loss, liability, damage, claim or expense, including taxes (other
than taxes based upon or 

  

 42 

	 	 
determined or measured by the income of the Trustee), incurred without gross negligence or bad faith on its part, arising out of or in connection with the
acceptance or administration of the trust or trusts under this Indenture, including the costs and expenses of defending itself against any claim or liability in connection with the exercise or performance of any of its powers or duties under this
Indenture. 

  
 When the Trustee incurs expenses
or renders services in connection with an Event of Default specified in Section 5.1 (e) or Section 5.1 (f) above, the expenses (including the reasonable charges and expenses of its counsel) and the compensation for the services are intended to
constitute expenses of administration under any applicable federal or state bankruptcy, insolvency or other similar law. 
  
 The provisions of this Section 6.7 shall survive this Indenture and the resignation or removal of any Trustee under this Indenture. 
  
 Section 6.8 Disqualification; Conflicting Interests. 
  
 The Trustee shall be disqualified only where such disqualification is
required by Section 310(b) of the Trust Indenture Act. Nothing 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 6.9 Corporate Trustee Required; Eligibility. 
  
 There shall at all times be a Trustee under this Indenture which shall be
eligible to act as Trustee under Section 310(a)(1) 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. 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 6.9, 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. Neither the Company nor any Person directly or indirectly controlling, controlled by, or under common control with the Company may serve as Trustee. If at any time
the Trustee shall cease to be eligible in accordance with the provisions of this Section 6.9, it shall resign immediately in the manner and with the effect in this Indenture specified in this Article VI. 
  
 Section 6.10 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 VI shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 6.11 below. 
  
 (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 Company. If the instrument of acceptance by a successor Trustee required by Section 6.11 below shall not have been delivered to the Trustee within 30 days after the giving of
such notice of resignation, the 

  

 43 

 
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 Company. 
  
 (d) If at any time: 
  
 (i) the Trustee shall fail to comply with Section 310(b) of
the Trust Indenture Act after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months; or 
  
 (ii) the Trustee shall cease to be eligible under Section 6.9 above and shall fail to resign after written
request here for by the Company or by any such Holder of a Security who has been a bona fide Holder of a Security for at least six months; or 
  
 (iii) 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 Company by a Board Resolution may remove the Trustee with respect to all Securities, or (ii) subject to
Section 315(e) of the Trust Indenture Act, 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 Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such
successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable
requirements of Section 6.11 below. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of
a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the
applicable requirements of Section 6.11 below, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company with respect to such Securities. If no successor
Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 6.11 below, 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 

  

 44 

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

 
 (f) The Company shall give notice of each resignation and
each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, 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 6.11 Acceptance of Appointment by Successor or Additional
Trustees. 
  
 (a) In case of the appointment
under this Indenture of a successor Trustee with respect to all Securities, every such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and
thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee;
but, on the request of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee
and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee under this Indenture. 
  
 (b) In case of the appointment under this Indenture of a Trustee or a successor with respect to the Securities of one or more (but not
all) series, the Company, any retiring Trustee and each Trustee or a successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto under which each Trustee or a 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 Trustee or a successor Trustee all the rights, powers, trusts and duties of any retiring
Trustee with respect to the Securities of that or those series to which the appointment of such Trustee or a successor Trustee relates, (2) if any 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 any retiring Trustee with respect to the Securities of that or those series as to which any retiring Trustee is not retiring shall continue to be
vested in any 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 under this Indenture by more than one Trustee, it being
understood that nothing in this Indenture 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 under this Indenture separate and apart from
any trust or trusts under this Indenture administered by any other such Trustee; and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided in
this Indenture and each such Trustee or a successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of any retiring Trustee with respect to the Securities of that or those
series to which the appointment of such 

  

 45 

 
Trustee or a successor Trustee relates; but, on request of the Company or any Trustee or a successor Trustee, any such retiring Trustee shall duly assign,
transfer and deliver to such Trustee or a successor Trustee all property and money held by any such retiring Trustee under this Indenture with respect to the Securities of that or those series to which the appointment of any such Trustee or
successor Trustee relates. 
  
 (c) Upon request
of any such successor Trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section
6.11, 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 the Trust Indenture Act. 
  

Section 6.12 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 under this
Indenture, provided such corporation shall be otherwise qualified and eligible under this Article VI, without the execution or filing of any paper or any further act on the part of any of the parties to this Indenture. 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 6.13 Preferential Collection of Claims Against Company. 
  
 The Trustee shall comply with 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 in this Indenture. 
  
 Section 6.14 Appointment of Authenticating Agent. 
  
 At any time when any of the Securities remain Outstanding the Trustee may appoint an Authenticating Agent or Agents with respect to one or more series of Securities which shall be authorized to act on behalf of, and
subject to the direction of, the Trustee to authenticate Securities of such series issued upon exchange, registration of transfer or partial redemption thereof or pursuant to Section 3.6 above, and Securities so authenticated shall be entitled to
the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee under this Indenture. Wherever reference is made in this Indenture to the authentication and delivery of Securities by the Trustee
or the Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of authentication executed on behalf of the Trustee

  

 46 

 
by an Authenticating Agent. Each Authenticating Agent shall be acceptable to the Company and shall at all times be a corporation organized and doing business
under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to act as Authenticating Agent, having a combined capital and surplus of not less than $5,000,000 and subject to supervision or
examination by federal or State authority. If such Authenticating Agent publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section 6.14,
the combined capital and surplus of such Authenticating Agent shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be eligible
in accordance with the provisions of this Section 6.14, such Authenticating Agent shall resign immediately in the manner and with the effect specified in this Section 6.14. 
  
 Any corporation into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any
corporation resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to the corporate agency or corporate trust business of an Authenticating Agent, shall continue to
be an Authenticating Agent, provided such corporation shall be otherwise eligible under this Section 6.14, without the execution or filing of any paper or any further act on the part of the Trustee or the Authenticating Agent. 
  
 An Authenticating Agent may resign at any time by giving written notice
thereof to the Trustee and to the Company. The Trustee may at any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving such a notice of resignation or
upon such a termination, or in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section 6.14, the Trustee may appoint a successor Authenticating Agent which shall be acceptable to the
Company and shall mail written notice of such appointment by first-class mail, postage prepaid, to all Holders of Securities of the series with respect to which such Authenticating Agent will serve, as their names and addresses appear in the
Security Register. Any successor Authenticating Agent upon acceptance of its appointment under this Indenture shall become vested with all the rights, powers and duties of its predecessor under this Indenture, with like effect as if originally named
as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section 6.14. 
  
 The Company agrees to pay to each Authenticating Agent from time to time reasonable compensation for its services under this Section 6.14. 
  
 If an appointment with respect to one or more series is made pursuant to this
Section 6.14, the Securities of such series may have endorsed thereon, in lieu of the Trustee’s certificate of authentication, an alternate certificate of authentication in the following form: 
  
 Form of Authenticating Agent’s 
 Certificate of Authentication 
  
 Dated:
                                        

  

 47 

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

			
	 
	As Trustee
		
	By:	 	 
	 	 	As Authenticating Agent
		
	By:	 	 
	 	 	Authorized Signatory

  
 ARTICLE VII

  
 HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

  
 Section 7.1 Company to Furnish Trustee Names and Addresses of
Holders. 
  
 The Company will furnish or cause to be furnished
to the Trustee: 
  
 (a) semi-annually, not later
than                      and
                     in each year, a list, in such form as the Trustee may reasonably require, of the names and addresses of the Holders as of
the preceding                      or
                    , 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 Company of any such request, a list
of similar form and content as of a date not more than 15 days prior to the time such list is furnished; provided, however, that so long as the Trustee is the Security Registrar, no such list shall be required to be furnished. 
  
 Section 7.2 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 7.1 above 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 7.1 above upon receipt of a new list so furnished. 
  
 (b) If three or more Holders (in this Indenture referred to as “applicants”) apply in writing to the Trustee, and furnish to the
Trustee reasonable proof that each such applicant has owned a Security for a period of at least six months preceding the date of such application, and such application states that the applicants desire to communicate with other Holders with respect
to their rights under this Indenture or under the Securities and is accompanied by a copy of the form of proxy or other communication which such 

  

 48 

 
applicants propose to transmit then the Trustee shall, within five Business Days after the receipt of such application, at its election, either 

 
 (i) afford such applicants access to the information
preserved at the time by the Trustee in accordance with Section 7.2(a) above; or 
  
 (ii) inform such applicants as to the approximate number of Holders whose names and addresses appear in the information preserved at the
time by the Trustee in accordance with Section 7.2(a) above, and as to the approximate cost of mailing to such Holders the form of proxy or other communication, if any, specified in such application. 
  
 If the Trustee shall elect not to afford such applicants access to such
information, the Trustee shall, upon the written request of such applicants, mail to each Holder whose name and address appears in the information preserved at the time by the Trustee in accordance with Section 7.2(a) above a copy of the form of
proxy or other communication which is specified in such request, with reasonable promptness after a tender to the Trustee of the material to be mailed and of payment, or provision for the payment, of the reasonable expenses of mailing, unless within
five days after such tender the Trustee shall mail to such applicants and file with the Commission, together with a copy of the material to be mailed, a written statement to the effect that, in the opinion of the Trustee, such mailing would be
contrary to the best interest of the Holders or would be in violation of applicable law. Such written statement shall specify the basis of such opinion. If the Commission, after opportunity for a hearing upon the objections specified in the written
statement so filed, shall enter an order refusing to sustain any of such objections or if, after the entry of an order sustaining one or more of such objections, the Commission shall find, after notice and opportunity for hearing, that all
objections so sustained have been met and shall enter an order so declaring, the Trustee shall mail copies of such material to all such Holders with reasonable promptness after the entry of such order and the renewal of such tender; otherwise the
Trustee shall be relieved of any obligation or duty to such applicants respecting their application. 
  
 (c) Every Holder of Securities, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor
the Trustee nor any agent of either of them shall be held accountable by reason of the disclosure of any such information as to the names and addresses of the Holders in accordance with Section 7.2(b) above, regardless of the source from which such
information was derived, and that the Trustee shall not be held accountable by reason of mailing any material pursuant to a request made under Section 7.2(b) above. 
  
 Section 7.3 Reports by Trustee. 
  
 (a) Within 60 days after
                     of each year commencing with the year             ,
the Trustee shall transmit by mail to all Holders of Securities as provided in Section 313(c) of the Trust Indenture Act, a brief report dated as of
                        , if required by and in compliance with Section 313(a) of the Trust Indenture Act. 
  
 (b) A copy of each such report shall, at the time of such
transmission to Holders, be filed by the Trustee with each stock exchange upon which any Securities are 

  

 49 

 
listed, with the Commission and with the Company. The Company will notify the Trustee when any Securities are listed on any stock exchange. 
  
 Section 7.4 Reports by Company. 
  
 The Company shall: 
  
 (a) file with the Trustee, within 30 days after the Company
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 Company may be required to file with the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; or, if the Company 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 Exchange Act 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; 
  
 (b) 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 Company with the conditions and covenants of this Indenture as may be required from time to time by such rules and regulations; and

  
 (c) furnish to the Trustee, on or before
                 of each year, a brief certificate from the principal executive officer, principal financial officer or principal accounting officer as to his or
her knowledge of the Company’s compliance with all conditions and covenants under this Indenture. For purposes of this paragraph, such compliance shall be determined without regard to any period of grace or requirement of notice provided under
this Indenture. Such certificate need not comply with Section 1.2 above. 
  
 ARTICLE VIII 
  
 CONSOLIDATION, MERGER, LEASE,
SALE OR TRANSFER 
  
 Section 8.1 When Company May Merge, Etc.

  
 The Company shall not consolidate, or merge with or into any
other corporation (whether or not the Company shall be the surviving corporation), or sell, assign, transfer or lease or otherwise dispose of all or substantially all of its properties and assets as an entirety or substantially as an entirety to any
Person or group of affiliated Persons, in one transaction or a series of related transactions, unless: 
  
 (a) either the Company shall be the continuing Person or the Person (if other than the Company) formed by such consolidation or with which
or into which the Company is merged or the Person (or group of affiliated Persons) to which all or 

  

 50 

 
substantially all the properties and assets of the Company as an entirety or substantially as an entirety are sold, assigned, transferred or leased shall be
a corporation, partnership or trust or other entity organized and existing under the laws of the United States of America or any State thereof or the
                                 and shall expressly assume, by an indenture
supplemental to this Indenture, executed and delivered to the Trustee, in form satisfactory to the Trustee, all the obligations of the Company under the Securities and this Indenture; and 
  
 (b) immediately before and after giving effect to such
transaction or series of related transactions, no Event of Default, and no Default, and no event which, after notice or lapse of time or both, would become and Event of Default, shall have occurred and be continuing. 
  
 Section 8.2 Opinion of Counsel. 
  
 The Company shall deliver to the Trustee prior to the proposed transaction(s)
covered by Section 8.1 above an Officer’s Certificate and an Opinion of Counsel stating that the transaction(s) and such supplemental indenture comply with this Indenture and that all conditions precedent to the consummation of the transaction
under this Indenture have been met. 
  
 Section 8.3 Successor Corporation
Substituted. 
  
 Upon any consolidation by the Company with or
merger by the Company into an other corporation or any lease, sale, assignment, or transfer of all or substantially all of the property and assets of the Company in accordance with Section 8.1 above, the successor corporation formed by such
consolidation or into which the Company is merged or the successor corporation or affiliated group of corporations to which such lease, sale, assignment, or transfer is made shall succeed to, and be substituted for, and may exercise every right and
power of, the Company under this Indenture with the same effect as if such successor corporation or corporations had been named as the Company in this Indenture, and thereafter, except in the case of a lease, the predecessor corporation or
corporations shall be relieved of all obligations and covenants under this Indenture and the Securities and in the event of such conveyance or transfer, except in the case of a lease, any such predecessor corporation may be dissolved and liquidated.

  
 ARTICLE IX 
  
 SUPPLEMENTAL INDENTURES 
  
 Section 9.1 Supplemental Indentures Without Consent of Holders. 
  
 Without notice to or the consent of any Holders of a series of Securities,
the Company, 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 to this Indenture, in form satisfactory to the Trustee, for any of the following purposes:

  
 (a) to evidence the succession of another
corporation to the Company and the assumption by any such successor of the covenants of the Company in this Indenture and in the Securities; or 
  

 51 

 (b) to add to the covenants of the Company for the benefit of the Holders of all or any
series of Securities (and if such covenants are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for the benefit of series) or to surrender any right or power in this
Indenture conferred upon the Company; or 
  
 (c)
to add any additional Events of Default with respect to all or any series of Securities; or 
  
 (d) to add 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 
  
 (e) 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 
  
 (f) to secure the Securities; or 
  
 (g) to establish the form or terms of Securities of any series as permitted by Sections 2.1 and 3.1 above;
or 
  
 (h) to evidence and provide for the
acceptance of appointment under this Indenture by a Trustee or 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 under this Indenture by more than one Trustee, pursuant to the requirements of Section 6.11(b) above; or 
  
 (i) to cure any ambiguity, defect or inconsistency or to correct or supplement any provision in this Indenture which may be inconsistent
with any other provision in this Indenture, provided that no such action shall adversely affect the interests of the Holders of any affected series of Securities in any material respects; or 
  
 (j) to make any change that does not materially adversely
affect the interests of the Holders of Securities of such series; or 
  
 (k) to qualify, or maintain the qualification of the Indenture under the Trust Indenture Act. 
  
 Upon request of the Company, accompanied by a Board Resolution authorizing the execution of any such supplemental indenture, and upon receipt by the
Trustee of the documents described in (and subject to the last sentence of) Section 9.3 below, the Trustee shall join with the Company in the execution of any supplemental indenture authorized or permitted by the terms of this Indenture. 

 

 52 

 Section 9.2 Supplemental Indentures with Consent of Holders. 
  
 With the written consent of the Holders of a majority in principal amount of
the Outstanding Securities of each series affected by such supplemental indenture, by Act of said Holders delivered to the Company and the Trustee, the Company, when authorized by a Board Resolution, and the Trustee shall, subject to Section 9.3
below, enter into an indenture or indentures supplemental to this Indenture for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the
Holders of Securities of such series under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the Holder of each Outstanding security affected thereby, 
  
 (a) 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 extend the time for payment 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 5.2 above, or change any Place of Payment where, or the coin or currency in which, any
security or any premium or the interest thereon is payable, 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);

  
 (b) 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 Defaults
or Events of Default under this Indenture and their consequences provided for in this Indenture; or 
  
 (c) change the redemption provisions (including Article XI below) of this Indenture in a manner adverse to such Holder; or 
  
 (d) modify any of the provisions of this Section 9.2 or
Section 5.13 above, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security affected thereby; provided, however,
that this clause shall not be deemed to require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant changes in this Section 9.2, or the deletion of this proviso, in accordance with the
requirements of Sections 6.11(b) and 9.1(h) above. 
  
 A
supplemental indenture which changes or eliminates any covenant or other provisions of this Indenture which has expressly been included solely for the benefit of one or more particular series of Securities, or which modifies the rights of the
Holders of Securities of such series with respect to such covenant or other provision, shall be deemed not to affect the rights under this Indenture of the Holders of Securities of any other series. 
  
 It shall not be necessary for any Act of Holders under this Section 9.2 to
approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 
  

 53 

 Section 9.3 Execution of Supplemental Indentures. 
  
 The Trustee shall sign any supplemental indenture authorized pursuant to this Article IX, subject to the last sentence of
this Section 9.3. In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article IX or the modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive,
and (subject to Section 6.1 above) shall be fully protected in relying upon, an Officer’s Certificate and an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee
may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 
  
 Section 9.4 Effect of Supplemental Indentures. 
  
 Upon the execution of any supplemental indenture under this Article IX, 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 under this Indenture shall be bound thereby. 
  
 Section 9.5 Conformity with Trust Indenture Act. 
  
 Every supplemental indenture executed pursuant to this Article IX shall
conform to the requirements of the Trust Indenture Act as then in effect. 
  
 Section 9.6 Reference in Securities to Supplemental Indentures. 
  
 Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article IX may, and shall if required by the Trustee, bear a notation in form approved by the
Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of any series so modified as to conform, in the opinion of the Trustee and the Company, to any such supplemental indenture may be
prepared and executed by the Company and authenticate and delivered by the Trustee in exchange for Outstanding Securities of such series. 
  
 ARTICLE X 
  
 COVENANTS 
  
 Section
10.1 Payments of Securities. 
  
 With respect to each
series of Securities, the Company will duly and punctually pay the principal of (and premium, if any) and interest on such Securities in accordance with their terms and this Indenture, and will duly comply with all the other terms, agreements and
conditions contained in, or made in the Indenture for the benefit of, the Securities of such series. 
  

 54 

 Section 10.2 Maintenance of Office or Agency. 
  
 The Company will maintain an office or agency in each Place of Payment where Securities may be surrendered for registration
of transfer or exchange or for presentation for payment, where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and
any change in location, of such office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands
may be made or served at the address of the Trustee as set forth in Section 1.5 above. 
  
 The Company may also from time to time designate one or more other offices or agencies where the Securities may be presented or surrendered for any or all such purposes and may from time to time rescind such
designations. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. 
  
 Unless otherwise set forth in, or pursuant to, a Board Resolution or indenture supplemental to this Indenture with respect
to a series of Securities, the Company hereby initially designates the Corporate Trust Office as such office of the Company. 
  
 Section 10.3 Corporate Existence. 
  
 Subject to Article VIII above, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its corporate
existence and that of each of its Subsidiaries and the rights (charter and statutory) of the Company and its Subsidiaries; provided, however, that (a) the Company shall not be required to preserve any such right, license or franchise or the
corporate existence of any of its Subsidiaries if the Board of Directors, or the board of directors of the Subsidiary concerned, as the case may be, shall determine that the preservation thereof is no longer desirable in the conduct of the business
of the Company or any of its Subsidiaries and that the loss thereof is not materially disadvantageous to the Holders, and (b) nothing contained in this Indenture shall prevent any Subsidiary of the Company from liquidating or dissolving, or merging
into, or consolidating with the Company (provided that the Company shall be the continuing or surviving corporation) or with any one or more Subsidiaries if the Board of Directors or the board of directors of the Subsidiary concerned, as the case
may be, shall so determine. 
  
 Section 10.4 Payment of Taxes and Other
Claims. 
  
 The Company will pay or discharge, or cause to be
paid or discharged, before the same shall become delinquent, (1) all material taxes, assessments and governmental charges levied or imposed upon the Company or any Subsidiary or upon the income, profits or property of the Company or any Subsidiary
material to the Company and its Subsidiaries taken as a whole, and (2) all lawful claims for labor, materials and supplies which, if unpaid, might by law become a material lien upon the property of the Company or any Subsidiary material to the
Company and its Subsidiaries taken as a whole; provided, however, that the Company shall not be required to pay or discharge or cause to be paid or 

  

 55 

 
discharged any such tax, assessment, charge or claim whose amount, applicability or validity is being contested in good faith by appropriate proceedings and
for which adequate provision has been made. 
  
 Section 10.5 Compliance
Certificates. 
  
 (a) The Company shall
deliver to the Trustee, within ten days after the occurrence thereof, notice of any acceleration which with the giving of notice and the lapse of time would be an Event of Default within the meaning of Section 5.1(d) above. 
  
 (b) The Company shall deliver to the Trustee forthwith upon
becoming aware of a Default or Event of Default (but in no event later than ten days after the occurrence of each Default or Event of Default that is continuing), an Officer’s Certificate setting forth the details of such Default or Event of
Default and the action that the Company proposes to take with respect thereto and the specific section or sections of this Indenture in connection with which such Default or Event of Default has occurred. 
  
 Section 10.6 Commission Reports. 
  
 (a) So long as the Securities remain Outstanding, the
Company shall cause its annual report to shareholders and any other financial reports furnished by it to shareholders generally, to be mailed to the Holders at their addresses appearing in the Security Register maintained by the Security Registrar
in each case at the time of such mailing or furnishing to shareholders. If the Company is not required to furnish annual reports to its shareholders pursuant to the Exchange Act, the Company shall cause its financial statements, including any notes
thereto and, with respect to annual reports, an auditors’ report by an accounting firm of established national reputation and a “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” to be so
filed with the Trustee and mailed to the Holders within 90 days after the end of each of the Company’s fiscal years and within 45 days after the end of each of the first three quarters of each fiscal year. 
  
 (b) The Company shall provide the Trustee with a sufficient
number of copies of all reports and other documents and information that the Company may be required to deliver to the Holders under this Section 10.6. 
  
 Section 10.7 Waiver of Stay, Extension or Usury Laws. 
  
 The Company 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,
and will actively resist any and all efforts to be compelled to take the benefit or advantage of, any stay or extension law or any usury law or other law, which would prohibit or forgive the Company from paying all or any portion of the principal of
and/or interest on the Securities as contemplated in this Indenture, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Indenture; and (to the extent that it may lawfully do so) the
Company 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 in this Indenture granted to the Trustee, but will suffer and permit the execution of every
such power as though no such law had been enacted. 
  

 56 

 Section 10.8 Money for Securities Payments to Be Held in Trust. 
  
 If the Company shall at any time act as its own Paying Agent with respect to
any series of Securities, it will, on or before each due date of the principal of (and premium, if any) or interest on any of the Securities of that series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient
to pay the principal (and premium, if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as in this Indenture provided and will promptly notify the Trustee of its action or failure so to act.

  
 Whenever the Company shall have one or more Paying Agents for
any series of Securities, it will, prior to 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 so
becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure to so act.

  
 The Company will cause each Paying Agent for any series of
Securities (other than the Trustee) to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section 10.8, that such Paying Agent will: 
  
 (a) hold all sums held by it for the payment of the
principal of (and premium, if any) or interest on 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 in this Indenture provided; 
  
 (b) give the Trustee notice of any default by the Company
(or any other obligor upon the Securities of that series) in the making of any payment of principal (and premium, if any) or interest on the Securities of that series; and 
  
 (c) 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 Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums
held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such
Paying Agent shall be released from all further liability with respect to such money. 
  
 Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of (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 Company on Company Request, or (if then held by the Company) shall be discharged from such trust; 

  

 57 

 
and the Holder of such security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the
Trustee or such Paying Agent with respect to such trust money, shall thereupon cease; provided, however, that the Trustee of such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published
once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in
                    ,
                    , notice that such money remains unclaimed and that, after a date specified in this Indenture, which shall not be less
than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company. 
  
 ARTICLE XI 
  
 REDEMPTION OF SECURITIES 
  
 Section 11.1 Applicability of Article. 
  
 Securities of any series which are redeemable before their Stated Maturity shall be redeemable in accordance with their terms in whole or in part (provided Securities issued in denominations larger than $1,000 may be redeemed in part only
in integral multiples of $1,000) and (except as otherwise specified as contemplated by Section 3.1 above for Securities of any series) in accordance with this Article XI. 
  
 Section 11.2 Election to Redeem; Notice to Trustee. 
  
 The election of the Company to redeem any Securities shall be evidenced by a Board Resolution. In case of any redemption at
the election of the Company of less than all the Securities of any series, the Company shall, at least 45 days prior to the Redemption Date fixed by the Company (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 Company shall furnish the Trustee with an Officer’s Certificate evidencing compliance with such restriction. 
  
 Section 11.3 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 90 days prior
to the Redemption Date by the Trustee, from the Outstanding Securities of such series not previously called for redemption, substantially pro rata, by lot or by any other method as the Trustee considers fair and appropriate and that complies with
the requirements of the principal national securities exchange, if any, on which such Securities are listed, and which may provide for the selection for redemption of portions (equal to the lesser of the minimum authorized denomination for
Securities of that series or $50 per Security, and 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 

  

 58 

 
that in case the Securities of such series have different terms and maturities, the Securities to be redeemed shall be selected by the Company and the
Company shall give notice thereof to the Trustee. 
  
 The Trustee
shall promptly notify the Company 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 the 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 11.4 Notice of Redemption. 
  
 Notice of redemption shall be given by first-class mail, postage prepaid,
mailed not less than 30 nor more than 60 days prior to the Redemption Date, to each Holder of Securities to be redeemed, at his address appearing in the Security Register. 
  
 All notices of redemption shall state: 
  
 (a) the Redemption Date; 
  
 (b) the Redemption Price; 
  
 (c) 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; 
  
 (d) 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; 
  
 (e) the place or places where such Securities are to be surrendered for payment of the Redemption Price; 
  
 (f) that the redemption is for a sinking fund, if such is
the case; 
  
 (g) the CUSIP number, if any, of
the Securities to be redeemed; and 
  
 (h) unless
otherwise provided as to a particular series of Securities, if at the time of publication or mailing of any notice of redemption the Company shall not have deposited with the Trustee or Paying Agent and/or irrevocably directed the Trustee or Paying
Agent to apply, from money held by it available to be used for the redemption of Securities, an amount in cash sufficient to redeem all of the Securities called for redemption, including accrued interest to the Redemption Date, such notice shall
state that it is subject to the receipt of the redemption moneys by the Trustee or Paying Agent before the Redemption Date (unless such redemption is mandatory) and such notice shall be of no effect unless such moneys are so received before such
date. 
  

 59 

 Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the
Company or, at the Company’s request, by the Trustee in the name and at the expense of the Company. 
  
 Section 11.5 Deposit of Redemption Price. 
  
 Prior to any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 10.8 above) 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 11.6 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 in this Indenture specified, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such
Securities shall cease to bear interest. Upon surrender of any such security for redemption in accordance with said notice, such security shall be paid by the Company at the Redemption Price, together with accrued interest to the Redemption Date;
provided, however, that 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 Regular or Special Record Dates according to their terms and the provisions of Section 3.7 above. 
  
 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 in the Security. 
  
 Section 11.7 Securities Redeemed in Part. 
  
 Any
Security which is to be redeemed only in part shall be surrendered at an office or agency of the Company at a Place of Payment therefor (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form
satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing), and the Company shall execute, and the Trustee shall authenticate and deliver to the Holder of such security without
service charge, a new Security or Securities of the same series and Stated Maturity, 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. 
  

 60 

 ARTICLE XII 
  
 SINKING FUNDS 
  
 Section 12.1 Applicability of Article. 
  
 The provisions of this Article XII shall be applicable to any sinking fund for the retirement of Securities of a series, except as otherwise specified as
contemplated by Section 3.1 above for Securities of such series. 
  
 The minimum amount of any sinking fund payment provided for by the terms of Securities of any series is in this Indenture 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 in this Indenture 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
redemption as provided in Section 12.2 below. 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 12.2 Satisfaction of Sinking Fund Payments with Securities. 
  
 The Company (1) may deliver Securities of a series (other than any Securities
previously called for redemption) and (2) may apply as a credit Securities of a series which have been (i) previously cancelled pursuant to Section 3.9 above or delivered for cancellation or (ii) redeemed either at the election of the Company
pursuant to the terms of such Securities or through the application of permitted Optional Sinking Fund Payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any Mandatory 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. Such Securities shall be received
and credited at the principal amount 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 Mandatory Sinking Fund Payment shall be reduced
accordingly. 
  
 Section 12.3 Redemption of Securities for Sinking Fund.

  
 Not less than 45 days prior to each sinking fund payment date
for any series of Securities, the Company will deliver to the Trustee an Officer’s 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 12.2 above 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 11.3 above and cause notice of the redemption
thereof to be given in the name of and at the expense of the Company in the manner provided in Section 11.4 above. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in
Sections 11.6 and 11.7 above. 
  

 61 

 ARTICLE XIII 
  
 DEFEASANCE AND COVENANT DEFEASANCE 
  
 Section 13.1 Applicability of Article; Company’s Option to Effect Defeasance or Covenant Defeasance. 
  
 Unless pursuant to Section 3.1 above provision is made for the
inapplicability of either or both of (a) Defeasance of the Securities of a series under Section 13.2 below or (b) Covenant Defeasance of the Securities of a series under Section 13.3 below, then the provisions of such Section or Sections, as the
case may be, together with the other provisions of this Article XIII, shall be applicable to the Securities of such series, and the Company may at its option by Board Resolution, at any time, with respect to the Securities of such series, elect to
have either Section 13.2 below (unless inapplicable) or Section 13.3 below (unless inapplicable) be applied to the Outstanding Securities of such series upon compliance with the applicable conditions set forth below in this Article XIII. 

 
 Section 13.2 Defeasance and Discharge. 
  
 Upon the Company’s exercise of the option provided in Section 13.1 above
to defease the Outstanding Securities of a particular series, the Company shall be discharged from its obligations with respect to the Outstanding Securities of such series on the date the applicable conditions set forth in Section 13.4 below are
satisfied (hereinafter, “Defeasance”). Defeasance shall mean that the Company shall be deemed to have paid and discharged the entire indebtedness represented by the Outstanding Securities of such series and to have satisfied all its other
obligations under such Securities and this Indenture insofar as such Securities are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same); provided, however, that the following rights,
obligations, powers, trusts, duties and immunities shall survive until otherwise terminated or discharged under this Indenture: (A) the rights of Holders of Outstanding Securities of such series to receive, solely from the trust fund provided for in
Section 13.4 below, payments in respect of the principal of (and premium, if any) and interest on such Securities when such payments are due, (B) the Company’s obligations with respect to such Securities under Sections 3.4, 3.5, 3.6, 10.1, 10.2
and 10.8 above, (C) the rights, powers, trusts, duties and immunities of the Trustee under this Indenture and (D) this Article XIII. Subject to compliance with this Article XIII, the Company may exercise its option with respect to Defeasance under
this Section 13.2 notwithstanding the prior exercise of its option with respect to Covenant Defeasance under Section 13.3 below in regard to the Securities of such series. 
  
 Section 13.3 Covenant Defeasance. 
  
 Upon the Company’s exercise of the option provided in Section 13.1 above to obtain a Covenant Defeasance with respect to the Outstanding Securities
of a particular series, the Company shall be released from its obligations under this Indenture (except its obligations under Sections 3.4, 3.5, 3.6, 5.6, 5.9, 6.10, 10.1, 10.2, 10.5, 10.7 and 10.8 above) with respect to the Outstanding Securities
of such series on and after the date the applicable conditions set forth in Section 13.4 are satisfied (hereinafter, “Covenant Defeasance”). Covenant Defeasance shall mean that, with respect to the Outstanding Securities of such series,
the 

  

 62 

 
Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in this Indenture (except its
obligations under Sections 3.4, 3.5, 3.6, 5.6, 5.9, 6.10, 10.1, 10.2, 10.5, 10.7 and 10.8 above), whether directly or indirectly by reason of any reference elsewhere in this Indenture or by reason of any reference to any other provision in this
Indenture or in any other document, and such omission to comply shall not constitute an Event of Default under Section 5.1(d) above with respect to Outstanding Securities of such series, and the remainder of this Indenture and of the Securities of
such series shall be unaffected thereby. 
  
 Section 13.4 Conditions to
Defeasance or Covenant Defeasance. 
  
 The following shall be
the conditions to Defeasance under Section 13.2 above and Covenant Defeasance under Section 13.3 above with respect to the Outstanding Securities of a particular series: 
  
 (a) the Company shall irrevocably have deposited or caused to be deposited (and in the case of Defeasance
such deposit shall have been made 121 days prior to Defeasance) with the Trustee (or another trustee satisfying the requirements of Section 6.9 above who shall agree to comply with the provisions of this Article XIII applicable to it), under the
terms of an irrevocable trust agreement in form and substance reasonably satisfactory to such Trustee, as trust funds in trust for the purpose of making the following payments, specifically pledged as security for, and dedicated solely to, the
benefit of the Holders of such Securities, (A) Dollars in an amount, or (B) U.S. Government Obligations which through the scheduled payment of principal and interest in respect thereof in accordance with their terms will provide, not later than the
due date of any payment, money in an amount, or (C) a combination thereof, in each case sufficient, after payment of all federal, state and local taxes or other charges or assessments in respect thereof payable by the Trustee, in the opinion of a
nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee (or other qualifying trustee) to pay and discharge,
(i) the principal of (and premium, if any, on) and each installment of principal of (and premium, if any) and interest on the Outstanding Securities of such series on the Stated Maturity of such principal or installment of principal or interest and
(ii) any mandatory sinking fund payments or analogous payments applicable to the Outstanding Securities of such series on the day on which such payments are due and payable in accordance with the terms of this Indenture and of such Securities.

  
 (b) No Default or Event of Default with
respect to the Securities of such series shall have occurred and be continuing on the date of such deposit or shall occur as a result of such deposit, and no Default or Event of Default under clause (e) or (f) of Section 5.1 above of this Indenture
shall occur and be continuing, at any time during the period ending on the 31st day after the date of such deposit (it being understood that this condition shall not be deemed satisfied until the expiration of such period). 
  
 (c) Such deposit, Defeasance or Covenant Defeasance shall
not result in a breach or violation of, or constitute a default under, any other agreement or instrument to which the Company is a party or by which it is bound. 
  

 63 

 (d) In the case of an election with respect to Section 13.2 above, the Company shall have
delivered to the Trustee either (A) a ruling directed to the Trustee received from the Internal Revenue Service to the effect that the Holders of the Outstanding Securities of such series will not recognize income, gain or loss for federal income
tax purposes as a result of such Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Defeasance had not occurred or (B) an Opinion of Counsel, based
on a ruling published by the Internal Revenue Service or on a change in the applicable federal income tax law since the date of this Indenture, in either case to the effect that, and based thereon such opinion shall confirm that, the Holders of the
Outstanding Securities of such series will not recognize income, gain or loss for federal income tax purposes as a result of such Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as
would have been the case if such Defeasance had not occurred. 
  
 (e) In the case of an election with respect to Section 13.3 above, the Company shall have delivered to the Trustee an Opinion of Counsel or a ruling directed to the Trustee received from the Internal Revenue Service
to the effect that the Holders of the Outstanding Securities of such series will not recognize income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance and will be subject to federal income 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. 
  
 (f) Such Defeasance or Covenant Defeasance shall be effected in compliance with any additional terms, conditions or limitations which may
be imposed on the Company in connection therewith pursuant to Section 3.1 above. 
  
 (g) The Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all
conditions precedent provided for relating to either the Defeasance under Section 13.2 above or the Covenant Defeasance under Section 13.3 above (as the case may be) have been complied with. 
  
 Section 13.5 Deposited Money and Government Obligations To Be Held In Trust.

  
 Subject to the provisions of the last paragraph of Section
10.8 above, all money and Government Obligations (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee—collectively for purposes of this Section 13.5, the “Trustee”) pursuant to Section 13.4 above in
respect of the Outstanding Securities of a particular series shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any Paying Agent
(including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of such Securities of all sums due and to become due thereon in respect of principal (and premium, if any) and interest, but such money need not be
segregated from other funds except to the extent required by law. 
  
 The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the Government Obligations deposited pursuant to Section 13.4 above or the principal and interest received in respect
thereof, other than any 

  

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such tax, fee or other charge which by law is for the account of the Holders of the Outstanding Securities of such series. 
  
 Anything in this Article XIII to the contrary notwithstanding, the Trustee
shall deliver to or pay to the Company from time to time upon Company Request any money or Government Obligations held by it as provided in Section 13.4 above which, in the opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited for the purpose for which such money or Government Obligations were deposited. 
  
 ARTICLE XIV 
  
 MISCELLANEOUS 
  
 Section 14.1 Miscellaneous. 
  
 This Indenture 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. 
  
 ARTICLE XV 
  
 SUBORDINATION 
  
 Section 15.1 Securities Subordinated to Senior Indebtedness. 
  
 (a) The Company covenants and agrees, and each Holder of Securities of each series, by his acceptance of this Indenture, likewise covenants and agrees, that anything in this Indenture or the Securities of any series
to the contrary notwithstanding, the indebtedness evidenced by the Securities of each series is subordinate and junior in right of payment, to the extent provided in this Indenture, to all Senior Indebtedness, whether outstanding on the date of
execution of this Indenture or thereafter created, incurred or assumed, and that the subordination is for the benefit of the holders of Senior Indebtedness. 
  
 (b) Subject to Section 15.4 below, if (i) the Company shall default in the payment of any principal of, premium, if any, or interest, if
any, on any Senior Indebtedness when the same becomes due and payable, whether at maturity or at a date fixed for prepayment or by declaration of acceleration or otherwise, or (ii) any other default shall occur with respect to Senior Indebtedness
and the maturity of such Senior Indebtedness has been accelerated in accordance with its terms, then, upon written notice of such default to the Company and the Trustee by the holders of Senior Indebtedness or any trustee therefor, unless and until,
in either case, the default has been cured or waived, or has ceased to exist, or any such acceleration has been rescinded or such Senior Indebtedness has been paid in full, no direct or indirect payment (in cash, property, securities, by set-off or
otherwise) shall be made or agreed to be made on account of the principal of, premium, if any, or interest, if any, on any of the Securities, or in respect of any redemption, retirement, purchase or other acquisition of any of the Securities other

  

 65 

 
than those made in Capital Stock of the Company (or cash in lieu of fractional shares of this Indenture). 
  
 (c) If any default (other than a default described in
paragraph (b) of this Section 15.1) shall occur under the Senior Indebtedness, pursuant to which the maturity of this Indenture may be accelerated immediately without further notice (except such notice as may be required to effect such acceleration)
or the expiration of any applicable grace periods occurs (a “Senior Nonmonetary Default”), then, upon the receipt by the Company and the Trustee of written notice of this Indenture (a “Payment Notice”) from or on behalf of
holders of such Senior Indebtedness specifying an election to prohibit such payment and other action by the Company in accordance with the following provisions of this paragraph (c), the Company may not make any payment or take any other action that
would be prohibited by paragraph (b) of this Section 15.1 during the period (the “Payment Blockage Period”) commencing on the date of receipt of such Payment Notice and ending on the earlier of (i) the date, if any, on which the holders of
such Senior Indebtedness or their representative notify the Trustee that such Senior Nonmonetary Default is cured or waived or ceases to exist or the Senior Indebtedness to which such Senior Nonmonetary Default relates is discharged or (ii) the
179th day after the date of receipt of such Payment Notice. Notwithstanding the provisions described in the immediately preceding sentence, the Company may resume payments on the Securities following such Payment Blockage Period. Any number of
Payment Notices may be given; provided, however, that (i) not more than one Payment Notice shall be given within a period of any 360 consecutive days, and (ii) no default that existed upon the date of such Payment Notice or the commencement of such
Payment Blockage Period (whether or not such event of default is on the same issue of Senior Indebtedness) shall be made the basis for the commencement of any other Payment Blockage Period. 
  
 (d) If (i) (A) without the consent of the Company, a
receiver, conservator, liquidator or trustee of the Company or of any of its property is appointed by the order or decree of any court or agency or supervisory authority having jurisdiction, and such decree or order remains in effect for more than
60 days or (B) the Company is adjudicated bankrupt or insolvent or (C) any of its property is sequestered by court order and such order remains in effect for more than 60 days or (D) a petition is filed against the Company under any state or federal
bankruptcy, reorganization, arrangement, insolvency, readjustment of debt, dissolution, liquidation or receivership law of any jurisdiction whether now or hereafter in effect (including without limitation the Bankruptcy Code), and is not dismissed
within 60 days after such filing; or (ii) the Company (A) commences a voluntary case or other proceeding seeking liquidation, reorganization, arrangement, insolvency, readjustment of debt, dissolution, liquidation or other relief with respect to
itself or its debt or other liabilities under any bankruptcy, insolvency or other similar law now or hereafter in effect (including without limitation the Bankruptcy Code) or seeking the appointment of a trustee, receiver, liquidator, custodian or
other similar official of it or any substantial part of its property, or (B) consents to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against it, or (C) fails
generally to, or cannot, pay its debts generally as they become due or (D) takes any corporate action to authorize or effect any of the foregoing; or (iii) any Subsidiary of the Company takes, suffers or permits to exist any of the events or
conditions referred to in the foregoing clause (i) or (ii), then all Senior Indebtedness (including any interest thereon accruing after the commencement of any such proceedings) shall first be 

  

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paid in full before any payment or distribution, whether in cash, securities or other property, shall be made to any Holder of any Securities on account of
this Indenture. Any payment or distribution, whether in cash, securities or other property (other than securities of the Company or any other corporation provided for by a plan of reorganization or readjustment the payment of which is subordinate,
at least to the extent provided in these subordination provisions with respect to the indebtedness evidenced by the Securities to the payment of all Senior Indebtedness then outstanding and to any securities issued in respect of this Indenture under
any such plan of reorganization or adjustment) which would otherwise (but for these subordination provisions) be payable or deliverable in respect of the Securities of any series shall be paid or delivered directly to the holders of Senior
Indebtedness in accordance with the priorities then existing among such holders until all Senior Indebtedness (including any interest thereon accruing after the commencement of any such proceedings) shall have been paid in full. In the event of any
such proceeding, after payment in full of all sums owing with respect to Senior Indebtedness, the Holders of the Securities, together with the holders of any obligations of the Company ranking on a parity with the Securities, shall be entitled to be
paid from the remaining assets of the Company the amounts at the time due and owing on account of unpaid principal of and interest, if any, on the Securities and such other obligations before any payment or other distribution, whether in cash,
property or otherwise, shall be made on account of any Capital Stock or any obligations of the Company ranking junior to the Securities and such other obligations. 
  
 (e) If, notwithstanding the foregoing, any payment or distribution of any character, whether in cash,
securities or other property (other than securities of the Company or any other corporation provided for by a plan of reorganization or readjustment the payment of which is subordinate, at least to the extent provided in the subordination provisions
with respect to the indebtedness evidenced by the Securities, to the payment of all Senior Indebtedness then outstanding and to any securities issued in respect of this Indenture under any such plan of reorganization or readjustment), shall be
received by the Trustee or any Holder in contravention of any of the terms of this Indenture, such payment or distribution of securities shall be received in trust for the benefit of and shall be paid over or delivered and transferred to the holders
of the Senior Indebtedness then outstanding in accordance with the priorities then existing among such holders for application to the payment of all Senior Indebtedness remaining unpaid, to the extent necessary to pay all such Senior Indebtedness in
full. In the event of the failure of the Trustee or any Holder to endorse or assign any such payment, distribution or security, each holder of such Senior Indebtedness is hereby irrevocably authorized to endorse or assign the same. 
  
 (f) No present or future holder of any Senior Indebtedness
shall be prejudiced in the right to enforce subordination of the indebtedness evidenced by the Securities by any act or failure to act on the part of the Company or any Holder of Securities. Nothing contained in this Indenture shall impair, as
between the Company and the Holders of Securities of each series, the obligation of the Company to pay to such Holders the principal of and interest, if any, on such Securities or prevent the Trustee or the Holder from exercising all rights, powers
and remedies otherwise permitted by applicable law or under this Indenture upon a default or Event of Default under this Indenture, all subject to the rights of the holders of the Senior Indebtedness to remove cash, securities or other property
otherwise payable or deliverable to the Holders. 
  

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 (g) Senior Indebtedness shall not be deemed to have been paid in full unless the holders
of this Indenture shall have received cash, securities or other property equal to the amount of such Senior Indebtedness then outstanding. Upon the payment in full of all Senior Indebtedness, the Holders of Securities of each series shall be
subrogated to all rights of any holders of Senior Indebtedness to receive any further payment or distributions applicable to the Senior Indebtedness until the indebtedness evidenced by the Securities of such series shall have been paid in full and
such payments or distributions received by such Holders, by reason of such subrogation, of cash, securities or other property which otherwise would be paid or distributed to the holders of Senior Indebtedness, shall, as between the Company and its
creditors other than the holders of Senior Indebtedness, on the one hand, and such Holders, on the other hand, be deemed to be a payment by the Company on account of Senior Indebtedness, and not on account of the Securities of such series.

  
 (h) The provisions of this Section 15.1 shall
not impair any rights, interests, remedies or powers of any secured creditor of the Company in respect of any security interest the creation of which is not prohibited by the provisions of this Indenture. 
  
 (i) The securing of any obligations of the Company,
otherwise ranking on a parity with the Securities, shall not be deemed to prevent such obligations from constituting, respectively, obligations ranking on a parity with the Securities. 
  
 Section 15.2 Reliance on Certificate of Liquidating Agent; Further Evidence as to Ownership of Senior Indebtedness. 
  
 Upon any payment or distribution of assets of the Company, the Trustee and
the Holders shall be entitled to rely upon an order or decree issued by any court of competent jurisdiction in which such dissolution or winding up or liquidation or reorganization or arrangement proceedings are pending or upon a certificate of the
bankruptcy trustee, receiver, assignee for the benefit of creditors or other Person making such payment or distribution, delivered to the Trustee or to the Holders, for the purpose of ascertaining the Persons entitled to participate in such
distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount of this Indenture or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Article
XV. In the absence of any such bankruptcy trustee, receiver, assignee or other Person, the Trustee shall be entitled to rely upon written notice by a Person representing himself to be a holder of Senior Indebtedness (or a trustee or representative
on behalf of such holder) as evidence that such Person is a holder of Senior Indebtedness (or is such a trustee or representative). If the Trustee determines, in good faith, that further evidence is required with respect to the right of any Person
as a holder of Senior Indebtedness to participate in any payment or distributions pursuant to this Article XV, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior
Indebtedness held by such Person, as to the extent to which such Person is entitled to participate in such payment or distribution, and to other facts pertinent to the rights of such Person under this Article XV, 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. 
  

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 Section 15.3 Payment Permitted If No Default. 
  
 Nothing contained in this Article XV or elsewhere in this Indenture, or in any of the Securities, shall prevent (a) the
Company at any time, except during the pendency of any default with respect to Senior Indebtedness described in Section 15.1(b) or Section 15.1(c) above or of any of the events described in Section 15.1(d) above, from making payments of the
principal of or interest, if any, on the Securities, or (b) the application by the Trustee or any paying agent of any moneys deposited with it under this Indenture to payments of the principal of or interest, if any, on the Securities, if, at the
time of such deposit, the Trustee or such paying agent, as the case may be, did not have the written notice provided for in Section 15.5 below of any event prohibiting the making of such deposit, or if, at the time of such deposit (whether or not in
trust) by the Company with the Trustee or paying agent (other than the Company) such payment would not have been prohibited by the provisions of this Article XV, and the Trustee or any paying agent shall not be affected by any notice to the contrary
received by it on or after such date. 
  
 Section 15.4 Disputes with Holders of
Certain Senior Indebtedness. 
  
 Any failure by the Company to
make any payment on or under any Senior Indebtedness, other than any Senior Indebtedness as to which the provisions of this Section 15.4 shall have been waived by the Company in the instrument or instruments by which the Company incurred, assumed,
guaranteed or otherwise created such Senior Indebtedness, shall not be deemed a default under Section 15.1 above if (i) the Company shall be disputing its obligation to make such payment or perform such obligation, and (ii) either (A) no final
judgment relating to such dispute shall have been issued against the Company which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a
party may seek further appeal or review, or (B) if a judgment that is subject to further review or appeal has been issued, the Company shall in good faith be prosecuting an appeal or other proceeding for review, and a stay of execution shall have
been obtained pending such appeal or review. 
  
 Section 15.5 Trustee Not
Charged with Knowledge of Prohibition. 
  
 Anything in this
Article XV or elsewhere in this Indenture contained to the contrary notwithstanding, the Trustee shall not at any time be charged with knowledge of the existence of any facts which would prohibit the making of any payment of moneys to or by the
Trustee and shall be entitled to assume conclusively that no such facts exist and that no event specified in clauses (b) and (c) of Section 15.1 above has happened unless and until the Trustee shall have received an Officers’ Certificate to the
effect or notice in writing to that effect signed by or on behalf of the holder or holders, or the representatives, of Senior Indebtedness who shall have been certified by the Company or otherwise established to the reasonable satisfaction of the
Trustee to be such holder or holders or representatives or from any trustee under any indenture pursuant to which such Senior Indebtedness shall be outstanding; provided, however, that, if the Trustee shall not have received the Officers’
Certificate or notice provided for in this Section 15.5 at least three Business Days preceding the date upon which by the terms of this Indenture any moneys become payable for any purpose (including, without limitation, the payment of either the
principal of or interest, if any, on any Security), then, anything in this Indenture contained to the contrary 

  

 69 

 
notwithstanding, the Trustee shall have full power and authority to receive such moneys and apply the same to the purpose for which they were received and
shall not be affected by any notice to the contrary that may be received by it within three Business Days preceding such date. The Company shall give prompt written notice to the Trustee and to each paying agent of any facts that would prohibit any
payment of moneys to or by the Trustee or any paying agent, and the Trustee shall not be charged with knowledge of the curing of any default or the elimination of any other fact or condition preventing such payment or distribution unless and until
the Trustee shall have received an Officers’ Certificate to such effect. 
  
 Section 15.6 Trustee to Effectuate Subordination. 
  
 Each Holder of Securities by his acceptance of this Indenture authorizes and directs the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination as between such Holder and holders of
Senior Indebtedness as provided in this Article XV and appoints the Trustee its attorney-in-fact for any and all such purposes. 
  
 Section 15.7 Rights of Trustee as Holder of Senior Indebtedness. 
  
 The Trustee shall be entitled to all the rights set forth in this Article XV with respect to any Senior Indebtedness which may at the time be held by it,
to the same extent as any other holder of Senior Indebtedness and nothing in this Indenture shall deprive the Trustee of any of its rights as such holder. Nothing in this Article XV shall apply to claims of, or payments to, the Trustee under or
pursuant to Section 6.7 above. 
  
 Section 15.8 Article Applicable to Paying
Agents. 
  
 In case at any time any paying agent other than
the Trustee shall have been appointed by the Company and be then acting under this Indenture, the term “Trustee” as used in this Article XV shall in such case (unless the context shall otherwise require) be construed as extending to and
including such paying agent within its meaning as fully for all intents and purposes as if the paying agent were named in this Article XV in addition to or in place of the Trustee; provided, however, that Sections 15.5 and 15.7 above shall not apply
to the Company if it acts as paying agent. 
  
 Section 15.9 Subordination
Rights Not Impaired by Acts or Omissions of the Company or Holders of Senior Indebtedness. 
  
 No right of any present or future holders of any Senior Indebtedness to enforce subordination as in this Indenture provided shall at any time in any way be prejudiced or impaired by any act or failure to act on the
part of the Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company with the terms, provisions and covenants of this Indenture, regardless of any knowledge of this Indenture which any such
holder may have or be otherwise charged with. The holders of Senior Indebtedness, may at any time or from time to time and in their absolute direction, change the manner, place or terms of payment, change or extend the time of payment of, or renew
or alter, any such Senior Indebtedness, or amend or supplement any instrument pursuant to which any such Senior Indebtedness is issued or by which it may be secured, or 

  

 70 

 
release any security therefor, or exercise or refrain from exercising any other of their rights under such Senior Indebtedness, including, without
limitation, the waiver of default under this Indenture, all without notice to or assent from the Holders of the Securities or the Trustee and without affecting the obligations of the Company, the Trustee or the Holders of Securities under this
Article XV. 
  
 Section 15.10 Trustee Not Fiduciary for Holders of Senior
Indebtedness. 
  
 The Trustee shall not be deemed to owe any
fiduciary duty to the holders of the Senior Indebtedness, and shall not be liable to any such holders if it shall mistakenly pay over or distribute money or assets to Securityholders or the Company. With respect to the holders of Senior
Indebtedness, the Trustee undertakes to perform or to observe only such of its covenants or obligations as are specifically set forth in this Article XV and no implied covenants or obligations with respect to holders of Senior Indebtedness shall be
read into this Indenture against the Trustee. 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed by their respective
officers thereunto duly authorized, as of the day and year first above written. 
  

			
	 HUGHES SUPPLY, INC.,
 as
Issuer

		
	 By:
	 	 
		
	 Name:
	 	 
		
	 Title:
	 	 
	
	__________________________________________________,
	 as Trustee

		
	 By:
	 	 
		
	 Name:
	 	 
		
	 Title:
	 	 

  

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