Document:

Exhibit 4.58

 

COUNTRYWIDE FINANCIAL CORPORATION

Issuer

 

COUNTRYWIDE HOME LOANS, INC.

Guarantor

 

TO

 

THE BANK OF NEW YORK

 

Trustee

 

 

INDENTURE

 

Dated as of February 1, 2005

 

 

Debt Securities

 

 

COUNTRYWIDE FINANCIAL CORPORATION

 

RECONCILIATION AND TIE BETWEEN TRUST INDENTURE ACT OF 1939

AND INDENTURE, DATED AS OF FEBRUARY 1, 2005

 

	
  ACT
  SECTION

  	
   

  	
  INDENTURE SECTION

  
	
   

  	
   

  	
   

  
	
  310(a)(1)

  	
   

  	
  708

  
	
  (a)(2)

  	
   

  	
  708

  
	
  310(a)(3)

  	
   

  	
  N.A.

  
	
  (a)(4)

  	
   

  	
  N.A.

  
	
  310(b)

  	
   

  	
  709

  
	
  310(c)

  	
   

  	
  N.A.

  
	
  311(a)
  and (b)

  	
   

  	
  705

  
	
  311(c)

  	
   

  	
  N.A.

  
	
  312(a)

  	
   

  	
  801, 802(a)

  
	
  312(b)
  and (c)

  	
   

  	
  802

  
	
  313(a)

  	
   

  	
  803

  
	
  313(b)

  	
   

  	
  803

  
	
  313(c)

  	
   

  	
  803

  
	
  313(d)

  	
   

  	
  803

  
	
  314(a)

  	
   

  	
  804

  
	
  314(b)

  	
   

  	
  N.A.

  
	
  314(c)(1)
  and (2)

  	
   

  	
  102

  
	
  314(c)(3)

  	
   

  	
  N.A.

  
	
  314(d)

  	
   

  	
  N.A.

  
	
  314(e)

  	
   

  	
  102

  
	
  314(f)

  	
   

  	
  N.A.

  
	
  315(a),
  (c) and (d)

  	
   

  	
  701

  
	
  315(b)

  	
   

  	
  604

  
	
  315(e)

  	
   

  	
  614

  
	
  316(a)(1)

  	
   

  	
  612

  
	
  316(a)(2)

  	
   

  	
  Omitted

  
	
  316(a)
  last sentence

  	
   

  	
  101

  
	
  316(b)

  	
   

  	
  612

  
	
  317(a)

  	
   

  	
  602

  
	
  317(b)

  	
   

  	
  1103

  
	
  318(a)

  	
   

  	
  107

  

 

THIS
RECONCILIATION AND TIE SHALL NOT, FOR ANY PURPOSE, BE DEEMED TO BE PART OF THE
INDENTURE.

 

 

TABLE OF
CONTENTS

 

	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  ARTICLE
  ONE

  	
   

  
	
  DEFINITIONS
  AND OTHER PROVISIONS OF GENERAL APPLICATION

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 101.

  	
  Definitions

  	
   

  	
  2

  
	
  SECTION 102.

  	
  Compliance Certificates and Opinions

  	
   

  	
  9

  
	
  SECTION 103.

  	
  Form of Documents Delivered to Trustee

  	
   

  	
  9

  
	
  SECTION 104.

  	
  Acts of Holders

  	
   

  	
  10

  
	
  SECTION 105.

  	
  Notices, etc., to Trustee, Company and Guarantor

  	
   

  	
  11

  
	
  SECTION 106.

  	
  Notice to Holders; Waiver

  	
   

  	
  11

  
	
  SECTION 107.

  	
  Conflict with Trust Indenture Act

  	
   

  	
  12

  
	
  SECTION 108.

  	
  Effect of Headings and Table of Contents

  	
   

  	
  12

  
	
  SECTION 109.

  	
  Successors and Assigns

  	
   

  	
  12

  
	
  SECTION 110.

  	
  Separability Clause

  	
   

  	
  12

  
	
  SECTION 111.

  	
  Benefits of Indenture

  	
   

  	
  12

  
	
  SECTION 112.

  	
  Governing Law

  	
   

  	
  12

  
	
  SECTION 113.

  	
  Legal Holidays

  	
   

  	
  12

  
	
  SECTION 114.

  	
  Moneys of Different Currencies to be Segregated

  	
   

  	
  13

  
	
  SECTION 115.

  	
  Payment to Be in Proper Currency

  	
   

  	
  13

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE
  TWO

  	
   

  
	
  FORMS
  OF DEBT SECURITIES AND GUARANTEES

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 201.

  	
  Forms Generally

  	
   

  	
  14

  
	
  SECTION 202.

  	
  Forms of Debt Securities and Guarantees

  	
   

  	
  14

  
	
  SECTION 203.

  	
  Form of Trustee’s Certificate of Authentication

  	
   

  	
  14

  
	
  SECTION 204.

  	
  CUSIP Numbers

  	
   

  	
  15

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE
  THREE

  	
   

  
	
  THE
  DEBT SECURITIES

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 301.

  	
  Amount Unlimited; Issuable in Series

  	
   

  	
  16

  
	
  SECTION 302.

  	
  Denominations

  	
   

  	
  18

  
	
  SECTION 303.

  	
  Execution, Authentication, Delivery and Dating

  	
   

  	
  18

  
	
  SECTION 304.

  	
  Temporary Debt Securities

  	
   

  	
  20

  
	
  SECTION 305.

  	
  Registration, Registration of Transfer and Exchange

  	
   

  	
  21

  
	
  SECTION 306.

  	
  Mutilated, Destroyed, Lost and Stolen Debt
  Securities

  	
   

  	
  23

  
	
  SECTION 307.

  	
  Payment of Interest; Interest Rights Preserved

  	
   

  	
  23

  
	
  SECTION 308.

  	
  Persons Deemed Owners

  	
   

  	
  26

  
	
  SECTION 309.

  	
  Cancellation

  	
   

  	
  26

  
	
  SECTION 310.

  	
  Computation of Interest

  	
   

  	
  26

  
	
  SECTION 311.

  	
  Payment in Currencies

  	
   

  	
  27

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE
  FOUR

  	
   

  
	
  GUARANTEES
  OF DEBT SECURITIES

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 401.

  	
  Unconditional Guarantee

  	
   

  	
  31

  
	
  SECTION 402.

  	
  Execution, Authentication and Delivery

  	
   

  	
  31

  

 

i

 

	
   

  	
  Page

  
	
   

  	
   

  
	
  ARTICLE
  FIVE

  	
   

  
	
  SATISFACTION
  AND DISCHARGE

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 501.

  	
  Satisfaction and Discharge of Indenture

  	
   

  	
  33

  
	
  SECTION 502.

  	
  Application of Trust Money

  	
   

  	
  34

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE
  SIX

  	
   

  
	
  REMEDIES

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 601.

  	
  Events of Default

  	
   

  	
  35

  
	
  SECTION 602.

  	
  Acceleration of Maturity; Rescission and Annulment

  	
   

  	
  36

  
	
  SECTION 603.

  	
  Collection of Indebtedness and Suits for Enforcement
  by Trustee

  	
   

  	
  37

  
	
  SECTION 604.

  	
  Trustee May File Proofs of Claim

  	
   

  	
  38

  
	
  SECTION 605.

  	
  Trustee May Enforce Claims without Possession of
  Debt Securities

  	
   

  	
  38

  
	
  SECTION 606.

  	
  Application of Money Collected

  	
   

  	
  39

  
	
  SECTION 607.

  	
  Limitation on Suits

  	
   

  	
  39

  
	
  SECTION 608.

  	
  Unconditional Right of Holders to Receive Principal,
  Premium (if any) and Interest

  	
   

  	
  40

  
	
  SECTION 609.

  	
  Restoration of Rights and Remedies

  	
   

  	
  40

  
	
  SECTION 610.

  	
  Rights and Remedies Cumulative

  	
   

  	
  40

  
	
  SECTION 611.

  	
  Delay or Omission Not Waiver

  	
   

  	
  40

  
	
  SECTION 612.

  	
  Control by Holders

  	
   

  	
  41

  
	
  SECTION 613.

  	
  Waiver of Past Defaults

  	
   

  	
  41

  
	
  SECTION 614.

  	
  Undertaking for Costs

  	
   

  	
  41

  
	
  SECTION 615.

  	
  Waiver of Stay or Extension Laws

  	
   

  	
  42

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE
  SEVEN

  	
   

  
	
  THE
  TRUSTEE

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 701.

  	
  Certain Duties and Responsibilities

  	
   

  	
  43

  
	
  SECTION 702.

  	
  Notice of Defaults

  	
   

  	
  44

  
	
  SECTION 703.

  	
  Certain Rights of Trustee

  	
   

  	
  44

  
	
  SECTION 704.

  	
  Not Responsible for Recitals or Issuance of Debt Securities

  	
   

  	
  45

  
	
  SECTION 705.

  	
  May Hold Debt Securities

  	
   

  	
  46

  
	
  SECTION 706.

  	
  Money Held in Trust

  	
   

  	
  46

  
	
  SECTION 707.

  	
  Compensation and Reimbursement

  	
   

  	
  46

  
	
  SECTION 708.

  	
  Corporate Trustee Required; Eligibility

  	
   

  	
  47

  
	
  SECTION 709.

  	
  Resignation and Removal; Appointment of Successor

  	
   

  	
  47

  
	
  SECTION 710.

  	
  Acceptance of Appointment by Successor

  	
   

  	
  49

  
	
  SECTION 711.

  	
  Merger, Conversion, Consolidation or Succession to
  Business

  	
   

  	
  50

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE
  EIGHT

  	
   

  
	
  HOLDERS’
  LISTS AND REPORTS BY TRUSTEE, COMPANY AND GUARANTOR

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 801.

  	
  Company and Guarantor to Furnish Trustee Names and
  Addresses of Holders

  	
   

  	
  51

  
	
  SECTION 802.

  	
  Preservation of Information; Communications to
  Holders

  	
   

  	
  51

  
	
  SECTION 803.

  	
  Reports by Trustee

  	
   

  	
  51

  

 

ii

 

	
   

  	
  Page

  
	
   

  	
   

  
	
  SECTION 804.

  	
  Reports by Company and Guarantor

  	
   

  	
  52

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE
  NINE

  	
   

  
	
  CONSOLIDATION,
  MERGER, CONVEYANCE OR TRANSFER

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 901.

  	
  Company May Consolidate, etc., Only on Certain Terms

  	
   

  	
  53

  
	
  SECTION 902.

  	
  Successor Corporation Substituted

  	
   

  	
  53

  
	
  SECTION 903.

  	
  Guarantor May Consolidate, etc., Only on Certain
  Terms

  	
   

  	
  53

  
	
  SECTION 904.

  	
  Successor Corporation Substituted

  	
   

  	
  54

  
	
  SECTION 905.

  	
  Assumption by Guarantor

  	
   

  	
  54

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE
  TEN

  	
   

  
	
  SUPPLEMENTAL
  INDENTURES

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 1001.

  	
  Supplemental Indentures without Consent of Holders

  	
   

  	
  55

  
	
  SECTION 1002.

  	
  Supplemental Indentures with Consent of Holders

  	
   

  	
  56

  
	
  SECTION 1003.

  	
  Execution of Supplemental Indentures

  	
   

  	
  57

  
	
  SECTION 1004.

  	
  Effect of Supplemental Indentures

  	
   

  	
  57

  
	
  SECTION 1005.

  	
  Notice to Holders

  	
   

  	
  57

  
	
  SECTION 1006.

  	
  Conformity with Trust Indenture Act

  	
   

  	
  58

  
	
  SECTION 1007.

  	
  Reference in Debt Securities to Supplemental
  Indentures

  	
   

  	
  58

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE
  ELEVEN

  	
   

  
	
  COVENANTS

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 1101.

  	
  Payment of Principal, Premium and Interest

  	
   

  	
  59

  
	
  SECTION 1102.

  	
  Maintenance of Office or Agency

  	
   

  	
  59

  
	
  SECTION 1103.

  	
  Money for Debt Securities Payments to Be Held in
  Trust

  	
   

  	
  59

  
	
  SECTION 1104.

  	
  Investment Company Act

  	
   

  	
  61

  
	
  SECTION 1105.

  	
  Officers’ Certificate as to Default

  	
   

  	
  61

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE
  TWELVE

  	
   

  
	
  REDEMPTION
  OF DEBT SECURITIES

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 1201.

  	
  Applicability of Article

  	
   

  	
  62

  
	
  SECTION 1202.

  	
  Election to Redeem, Notice to Trustee

  	
   

  	
  62

  
	
  SECTION 1203.

  	
  Selection by Trustee of Debt Securities to Be
  Redeemed

  	
   

  	
  62

  
	
  SECTION 1204.

  	
  Notice of Redemption

  	
   

  	
  62

  
	
  SECTION 1205.

  	
  Deposit of Redemption Price

  	
   

  	
  63

  
	
  SECTION 1206.

  	
  Debt Securities Payable on Redemption Date

  	
   

  	
  63

  
	
  SECTION 1207.

  	
  Debt Securities Redeemed in Part

  	
   

  	
  64

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE
  THIRTEEN

  	
   

  
	
  SINKING
  FUNDS

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 1301.

  	
  Applicability of Article

  	
   

  	
  65

  
	
  SECTION 1302.

  	
  Satisfaction of Sinking Fund Payments with Debt
  Securities

  	
   

  	
  65

  
	
  SECTION 1303.

  	
  Redemption of Debt Securities for Sinking Fund

  	
   

  	
  65

  

 

iii

 

	
   

  	
  Page

  
	
   

  	
   

  
	
  ARTICLE
  FOURTEEN

  	
   

  
	
  DEFEASANCE

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 1401.

  	
  Applicability of Article

  	
   

  	
  67

  
	
  SECTION 1402.

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

  	
   

  	
  67

  
	
  SECTION 1403.

  	
  Deposited Moneys and U.S. Government Obligations To
  Be Held in Trust

  	
   

  	
  69

  
	
  SECTION 1404.

  	
  Repayment to Company

  	
   

  	
  69

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE
  FIFTEEN

  	
   

  
	
  REPAYMENT
  AT THE OPTION OF HOLDERS

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SECTION 1501.

  	
  Applicability of Article

  	
   

  	
  70

  
	
  SECTION 1502.

  	
  Repayment of Debt Securities

  	
   

  	
  70

  
	
  SECTION 1503.

  	
  Exercise of Option

  	
   

  	
  70

  
	
  SECTION 1504.

  	
  When Debt Securities Surrendered for Repayment
  Become Due and Payable

  	
   

  	
  71

  
	
  SECTION 1505.

  	
  Debt Securities Repaid in Part

  	
   

  	
  71

  

 

iv

 

INDENTURE
dated as of February 1, 2005, among COUNTRYWIDE FINANCIAL CORPORATION, a Delaware
corporation (hereinafter called the “Company”), COUNTRYWIDE HOME LOANS, INC., a
New York corporation (hereinafter called the “Guarantor”), each having its
principal office at 4500 Park Granada, Calabasas, CA 91302 and THE BANK OF NEW
YORK, a New York corporation (hereinafter called the “Trustee”), having its
Corporate Trust Office at 101 Barclay Street, New York, New York 10286.

 

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 debentures, notes, bonds or
other evidences of indebtedness (herein called the “Debt Securities”), to be
issued in one or more series as in this Indenture provided.

 

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

 

RECITALS OF THE GUARANTOR

 

The
Guarantor has duly authorized the execution and delivery of this Indenture to
provide for the issuance of the Guarantees provided herein and the endorsement
of such Guarantees on the Debt Securities. All things necessary to make this
Indenture a valid agreement of the Guarantor, in accordance with its terms,
have been done.

 

This
Indenture is subject to the provisions of the Trust Indenture Act of 1939, as
amended, and the rules and regulations of the Securities and Exchange
Commission promulgated thereunder that are required to be part of this
Indenture and, to the extent applicable, shall be governed by such provisions.

 

NOW, THEREFORE, THIS INDENTURE WITNESSETH:

 

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

 

 

ARTICLE ONE

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

 

SECTION 101.                                            Definitions.

 

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

 

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

 

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

 

(3)           all
accounting terms not otherwise defined herein have the meanings assigned to
them in accordance with generally accepted accounting principles, and, except
as otherwise herein expressly provided, the term “generally accepted accounting
principles” with respect to any computation required or permitted hereunder
shall mean such principles as are generally accepted at the date of such
computation; and

 

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

 

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

 

“Act”
when used with respect to any Holder has the meaning specified in Section 104.

 

“Affiliate”
of any specified Person means any other Person directly or indirectly
controlling or controlled by or under direct or indirect common control with
such specified Person. For the purposes of this definition, “control” when used
with respect to any specified Person means the power to direct the management
and policies of such Person directly or indirectly, whether through the ownership
of voting securities, by contract or otherwise; and the terms “controlling” and
“controlled” have meanings correlative to the foregoing.

 

“Board
of Directors” means either the board of directors of the Company or the
Guarantor, as the case may be, or the executive or any other committee of that
board duly authorized to act in respect hereof.

 

“Board
Resolution” means a copy of a resolution certified by the Secretary or an
Assistant Secretary of the Company or the Guarantor, as the case may be, 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 with respect to any Place of Payment, unless otherwise specified in
a Board Resolution, and an Officers’ Certificate, or in a supplemental
indenture, 

 

2

 

means
each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which
banking institutions in an applicable Place of Payment or the city in which the
Trustee’s Corporate Trust Office is located or in New York, New York or Los
Angeles, California are authorized or obligated by law, executive order or
regulation to remain closed.

 

For
purposes of Section 311(b)(4) of the Trust Indenture Act, the term “cash
transaction” means any transaction in which full payment for goods or
securities sold is made within seven days after delivery of the goods or
securities in currency or in checks or other orders drawn upon the banks or
bankers and payable upon demand.

 

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

 

“Company”
means the Person named as the “Company” in the first paragraph of this
instrument 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”, “Company Order”, “Guarantor Request” and “Guarantor Order” mean,
respectively, a written request or order signed in the name of the Company or
the Guarantor, as the case may be, by the Chairman of the Board, the President
or a Vice President, and by the Treasurer, an Assistant Treasurer, the
Controller, an Assistant Controller, the Secretary or an Assistant Secretary of
the Company or the Guarantor, as the case may be, and delivered to the Trustee.

 

“Components”,
with respect to a composite currency, means the currency amounts that are
components of such composite currency on the Conversion Date with respect to
such composite currency. If the official unit of any component currency is
altered by way of combination or subdivision, the amount of such currency in
the Component shall be proportionately divided or multiplied. If two or more
component currencies are consolidated into a single currency, the amounts of
those currencies as Components shall be replaced by an amount in such single
currency equal to the sum of the amounts of such consolidated component
currencies expressed in such single currency, and such amount shall thereafter
be a Component. If after such Conversion Date any component currency shall be
divided into two or more currencies, the amount of such currency as a Component
shall be replaced by amounts of such two or more currencies, each of which
shall be equal to the amount of such former component currency divided by the
number of currencies into which such component currency was divided, and such
amounts shall thereafter be Components.

 

“Conversion
Date”, with respect to a composite currency, has the meaning specified in
Section 311.

 

“Corporate
Trust Office” means the corporate trust office of the Trustee at which at any
particular time its corporate trust business shall be principally administered,
which office at the date of execution of this instrument is located at 101
Barclay Street, New York, New York 
10286.

 

3

 

The
term “corporation” includes corporations, associations, companies and business
trusts.

 

“Current
Stated Principal Maturity” has the meaning specified in Section 312.

 

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

 

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

 

“Discharged”
has the meaning specified in Section 1402.

 

“Dollar”
or “$” means the coin or currency of the United States of America as at the
time of payment is legal tender for the payment of public and private debts.

 

“Event
of Default” has the meaning specified in Section 601.

 

“Exchange
Rate” means, unless otherwise specified in accordance with Section 301, (a)
with respect to Dollars in which payment is to be made on a series of Debt
Securities denominated in a composite currency, the exchange rate between
Dollars and such composite currency reported by the agency or organization, if
any, designated pursuant to Section 301(11) on the applicable Regular or
Special Record Date with respect to an Interest Payment Date or the fifteenth
day immediately preceding the Maturity of an installment of principal, or on
such other date provided herein, as the case may be; (b) with respect to
Dollars in which payment is to be made on a series of Debt Securities
denominated in a Foreign Currency, the noon Dollar buying rate for that
currency for cable transfers quoted by the Exchange Rate Agent in The City of
New York on the Regular or Special Record Date with respect to an Interest
Payment Date or the fifteenth day immediately preceding the Maturity of an
installment of principal, or on such other date provided herein, as the case
maybe, as certified for customs purposes by the Federal Reserve Bank of New
York and (c) with respect to Foreign Currency in which payment is to be made on
a series of Debt Securities converted into Dollars pursuant to Section 311(d),
the noon Dollar selling rate for that currency for cable transfers quoted by
the Exchange Rate Agent in The City of New York on the second Business Day
preceding an Interest Payment Date or the second Business Day preceding the
Maturity of an installment of principal, or on such other date provided herein,
as the case may be, as certified for customs purposes by the Federal Reserve
Bank of New York. If for any reason such rates are not available with respect
to one or more currencies for which an Exchange Rate is required, the Company
shall use such quotation of the Federal Reserve Bank of New York as of the most
recent available date, or quotations from one or more commercial banks in The
City of New York or in the country of issue of the currency in question, or
such other quotations as the Company, in each case, shall deem appropriate. If
there is more than one market for dealing in any currency by reason of foreign
exchange regulations or otherwise, the market to be used in respect of such
currency shall be the largest market upon which a nonresident issuer of
securities designated in such currency would purchase such currency in order to
make payments in respect of such securities.

 

“Exchange
Rate Agent” means the New York clearing house bank designated pursuant to
Section 301, or any successor thereto.

 

4

 

“Exchange
Rate Officer’s Certificate”, with respect to any date for the payment of
principal of (and premium, if any) and interest on any series of Debt
Securities, means a certificate setting forth the applicable Exchange Rate as
of the Regular or Special Record Date with respect to an Interest Payment Date
or the fifteenth day immediately preceding the maturity of an installment of
principal, as the case may be, and the amounts payable in Dollars in respect of
the principal of (and premium, if any) and interest on Debt Securities
denominated in any Foreign Currency, and signed by the Chairman of the Board,
the President, any Vice President, any Assistant Vice President, the Treasurer,
any Assistant Treasurer, the Controller or any Assistant Controller of the
Company and delivered to the Trustee.

 

“Extension
Notice” has the meaning specified in Section 312.

 

“Extension
Period” has the meaning specified in Section 312.

 

“Final
Maturity” has the meaning specified in Section 312.

 

“Foreign
Currency” means any currency, currency unit or composite currency issued by the
government of one or more countries other than the United States of America or
by any recognized confederation or association of such governments.

 

“Guarantee”
means an unconditional guarantee of the payment of the Debt Securities by the
Guarantor, as more fully described in Article Four.

 

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

 

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

 

“Indenture”
means this instrument as originally executed or as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered
into pursuant to the applicable provisions hereof and, unless the context
otherwise requires, shall include the terms of a particular series of Debt
Securities established as contemplated by Section 301.

 

The
term “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”, with respect to any Debt Security, means the Stated Maturity of
an installment of interest on such Debt Security.

 

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

 

5

 

“Officers’
Certificate” means a certificate signed by the Chairman of the Board, the
President, any Managing Director, any Vice President, the Treasurer, an
Assistant Treasurer, the Controller, an Assistant Controller, the Secretary or
an Assistant Secretary of the Company or the Guarantor, as the case may be,
that complies with the requirements of Section 314(e) of the Trust Indenture
Act and is delivered to the Trustee.

 

“Opinion
of Counsel” means a written opinion of counsel, who may be an employee of, or
counsel to, the Company or the Guarantor, as the case may be, and who shall be
reasonably satisfactory to the Trustee, which is delivered to the Trustee.

 

“Optional
Reset Date” has the meaning specified in Section 307(b).

 

“Original
Issue Discount Security” means, except as otherwise defined in a Debt Security,
any Debt Security which is issued with original issue discount within the
meaning of Section 1273(a) of the Internal Revenue Code of 1986, as amended,
and the regulations thereunder.

 

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

 

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

 

(ii)           Debt
Securities for whose payment, redemption or repayment money in the necessary
amount has been theretofore deposited with the Trustee or any Paying Agent
(other than the Company or the Guarantor) in trust or set aside and segregated
in trust by the Company (if the Company shall act as its own, or authorize the
Guarantor to act as, Paying Agent) for the Holders of such Debt Securities; provided,
however, that if such Debt Securities are to be redeemed, notice of such
redemption has been duly given pursuant to this Indenture and such Debt
Securities or provision therefor satisfactory to the Trustee has been made; and

 

(iii)          Debt
Securities which have been paid pursuant to Section 306 or in exchange for or
in lieu of which other Debt Securities have been authenticated and delivered
pursuant to this Indenture, other than any such Debt Securities in respect of
which there shall have been presented to the Trustee proof satisfactory to it
that such Debt Securities are held by a bona fide purchaser in whose hands such
Debt Securities and related Guarantees are valid obligations of the Company and
the Guarantor, respectively;

 

provided, however, that in
determining whether the Holders of the requisite principal amount of Debt
Securities Outstanding have given any request, demand, authorization,
direction, notice, consent or waiver hereunder, Debt Securities owned by the
Company, the Guarantor or any other obligor upon the Debt Securities or any
Affiliate of the Company, the Guarantor or of such other obligor shall be
disregarded and deemed not to be Outstanding, except that, in determining
whether the Trustee shall be protected in relying upon such request, demand,
authorization, direction, notice, consent or waiver, only Debt Securities which
the Trustee knows to be so 

 

6

 

owned shall be so disregarded. Debt Securities so
owned which have been pledged in good faith may be regarded as Outstanding if
the pledgee establishes to the satisfaction of the Trustee the pledgee’s right
so to act with respect to such Debt Securities and that the pledgee is not the
Company, the Guarantor or any other obligor upon the Debt Securities or any
Affiliate of the Company, the Guarantor or of such other obligor. The Trustee
shall not be deemed to know that any Debt Securities are so owned unless it has
received written notice of such fact at its Corporate Trust Office or unless
one of its Responsible Officers has actual knowledge thereof.

 

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

 

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

 

“Place
of Payment”, when used with respect to the Debt Securities of any series,
unless otherwise specified in a Board Resolution, and an Officers’ Certificate,
or in a supplemental indenture, means the office or agency of the Company in
the Borough of Manhattan, The City and State of New York, and such other place
or places, if any, where the principal of (and premium, if any) and interest on
the Debt Securities of that series are payable as specified as contemplated by
Section 301.

 

“Predecessor
Security” of any particular Debt Security means every previous Debt Security
evidencing all or a portion of the same debt as that evidenced by such
particular Debt Security; and, for the purposes of this definition, any Debt
Security authenticated and delivered under Section 306 in lieu of a lost,
destroyed or stolen Debt Security shall be deemed to evidence the same debt as
the lost, destroyed or stolen Debt Security.

 

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

 

“Redemption
Price”, when used with respect to any Debt Security to be redeemed, means the
price at which it is to be redeemed pursuant to this Indenture.

 

“Regular
Record Date” for the interest payable on any Interest Payment Date on the Debt
Securities of any series means the date specified for that purpose as
contemplated by Section 301.

 

“Repayment
Date” means, when used with respect to any Debt Security to be repaid at the
option of the Holder, the date fixed for such repayment by or pursuant to this
Indenture.

 

“Repayment
Price” means, when used with respect to any Debt Security to be repaid at the
option of the Holder, the price at which it is to be repaid by or pursuant to
this Indenture.

 

“Required
Currency” means the currency in which the Debt Securities of any series are
payable, in accordance with their terms or pursuant to an election made by one
or more 

 

7

 

Holders
pursuant to Section 301 hereof. If, however, the Required Currency is
unavailable for the reasons stated in Section 311(d)(i) or (ii), the Required
Currency shall mean U.S. Dollars.

 

“Reset
Notice” has the meaning specified in Section 307(b).

 

 “Responsible Officer”, when used with respect
to the Trustee, means any officer of the Trustee assigned to its corporate
trust department or similar group 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.

 

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

 

For
purposes of Section 311(b)(6) of the Trust Indenture Act, the term “self-liquidating
paper” means any draft, bill of exchanges, acceptance or obligation which is
made, drawn, negotiated or incurred by the Company or the Guarantor or any
other obligor upon the Debt Securities for the purpose of financing the
purchase, processing, manufacture, shipment, storage or sale of goods, wares or
merchandise and which is secured by documents evidencing title to, possession
of or a lien upon, the goods, wares or merchandise or the receivables or
proceeds arising from the sale of the goods, wares or merchandise previously
constituting the security, provided the security is received by the Trustee
simultaneously with the creation of the creditor relationship with such Person
arising from the making, drawing, negotiation or incurring of the draft, bill
of exchange, acceptance or obligation.

 

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

 

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

 

“Stated
Principal Maturity” means the Stated Maturity for the payment of principal, or
any installment of principal, of any Debt Security.

 

“Subsidiary”
means any corporation at least a majority of the outstanding Voting Stock of
which shall at the time directly or indirectly be owned or controlled by the Company,
or by one or more Subsidiaries, or by the Guarantor or one or more
Subsidiaries.

 

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

 

“Trust
Indenture Act” means the Trust Indenture Act of 1939 and any reference herein
to such Act or a particular provision thereof shall mean such Act or provision,
as the case 

 

8

 

may be,
as amended or replaced from time to time or as supplemented from time to time
by rules or regulations adopted by the Commission under or in furtherance of
the purposes of such Act or provision, as the case may be.

 

“U.S.
Government Obligations” has the meaning specified in Section 1402.

 

“Voting
Stock”, as applied to the stock of any corporation, means stock of any class or
classes, however designated, having ordinary voting power for the election of a
majority of the directors of such corporation, other than stock having such
power only by reason of the happening of a contingency.

 

SECTION 102.                                            Compliance
Certificates and Opinions.

 

Upon
any application or request by the Company or the Guarantor to the Trustee to
take any action under any provision of this Indenture, the Company or the
Guarantor, as the case may be, shall furnish to the Trustee an Officers’
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 wish, 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 respect to compliance
with condition or covenant provided for in this Indenture shall include

 

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

 

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

 

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

 

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

 

SECTION 103.                                            Form
of Documents Delivered to Trustee.

 

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

 

9

 

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

 

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

 

SECTION 104.                                            Acts
of Holders.

 

(a)           Any request, demand, authorization,
direction, notice, consent, waiver or other action provided by this Indenture
to be given or taken by Holders may be embodied in and evidenced by one or more
instruments of substantially similar tenor signed by such Holders in person or
by agent duly appointed in writing; and, except as herein 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 and the Guarantor. Such instrument or instruments (and the action
embodied therein and evidenced thereby) are herein 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 315 of the
Trust Indenture Act) conclusive in favor of the Trustee, the Company and the
Guarantor, if made in the manner provided in this Section.

 

(b)           The fact and date of the execution by
any Person of any such instrument or writing may be proved in any manner which
the Trustee deems sufficient.

 

(c)           The ownership, principal amount and
serial numbers of Debt Securities held by any Person, and the date of the
commencement and the date of the termination of holding the same, shall be
proved by the Security Register.

 

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

 

(e)           For purposes of determining the
aggregate principal amount of Outstanding Debt Securities of any series the
Holders of which are required, requested or permitted to give any request,
demand, authorization, direction, notice, consent, waiver or take 

 

10

 

any
other Act under this Indenture, each Debt Security denominated in a Foreign
Currency shall be deemed to have a principal amount determined by an Exchange
Rate Agent (as evidenced by a certificate of such Exchange Rate Agent) by
converting the principal amount of such Debt Security in the Foreign Currency
in which such Debt Security is denominated into Dollars at the Exchange Rate as
of 9:00 A.M., New York time, on the date such Act is delivered to the Trustee
and, where it is hereby expressly required, to the Company (or, if there is no
such rate on such date for the reasons specified in Section 311(d)(i) of the
Indenture, such rate on the rate specified in such Section).

 

SECTION 105.                                            Notices,
etc., to Trustee, Company and Guarantor.

 

Except
as provided in Sections 601(4) and (5), any request, demand, authorization,
direction, notice, consent, waiver or other Act of Holders or other document
provided or permitted by this Indenture to be made upon, given or furnished to,
or filed with,

 

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

 

(2)           the
Company or the Guarantor by the Trustee or by any Holder shall be sufficient
for every purpose hereunder (unless otherwise herein expressly provided) if in
writing and mailed, first class postage prepaid, to the Company or the
Guarantor, as the case may be, addressed to it at the address of its principal
office specified in the first paragraph of this instrument or at any other
address previously furnished in writing to the Trustee by the Company or the
Guarantor, as the case may be, Attention: 
Chairman of the Board of Directors, 4500 Park Granada, Calabasas,
California 91302.

 

SECTION 106.                                            Notice
to Holders; Waiver.

 

Where
this Indenture provides for notice to Holders of any event, such notice shall
be sufficiently given (unless otherwise herein expressly provided) if in
writing and mailed, first-class postage prepaid, to each Holder affected by
such event, at his address as it appears in the Security Register, not later
than the latest data and not earlier than the earliest date, prescribed for the
giving of such notice. In any case where notice to Holders is given by mail,
neither the failure to mail such notice, nor any defect in any notice so
mailed, to any particular Holder shall affect the sufficiency of such notice
with respect to other Holders. Where this Indenture provides for notice in any
matter, 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 the
event of suspension of regular mail service or for any other reason it shall be
impracticable to give such notice by mail, then such a notification as shall be
made with the approval of the Trustee shall constitute a sufficient
notification for every purpose hereunder.

 

11

 

SECTION 107.                                            Conflict
with Trust Indenture Act.

 

If any
provision hereof limits, qualifies or conflicts with any duties under any
required provision of the Trust Indenture Act imposed hereon by Section 318(c)
thereof, such required provision shall control.

 

SECTION 108.                                            Effect
of Headings and Table of Contents.

 

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

 

SECTION 109.                                            Successors
and Assigns.

 

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

 

SECTION 110.                                            Separability
Clause.

 

In
case any provision in this Indenture or in the Debt Securities or the
Guarantees 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 111.                                            Benefits
of Indenture.

 

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

 

SECTION 112.                                            Governing
Law.

 

This
Indenture, the Debt Securities and the Guarantees shall be governed by and
construed in accordance with the laws of the State of New York applicable no
agreements made and to be performed in said state.

 

SECTION 113.                                            Legal
Holidays.

 

Unless
otherwise specifically provided for in the applicable Debt Securities, in any
case where any Interest Payment Date, Redemption Date, Repayment Date, sinking
fund payment date, Stated Maturity, Stated Principal Maturity or Maturity of
any Debt Security shall not be a Business Day at any Place of Payment, then the
required payment of principal, premium, if any, and/or interest need not be
made at such Place of Payment on such date, but may be made on the next
succeeding Business Day at such Place of Payment with the same force and effect
as if made on the Interest Payment Date, Redemption Date, Repayment Date,
sinking fund payment date, Stated Maturity, Stated Principal Maturity or
Maturity, and no interest shall accrue on such payment for the period from and
after such Interest Payment Date, Repayment Date, Redemption Date, sinking fund
payment date, Stated Maturity, Stated Principal Maturity or Maturity, as the
case may be, to the next succeeding Business Day.

 

12

 

SECTION 114.                                            Moneys
of Different Currencies to be Segregated.

 

The
Trustee shall segregate all moneys, funds and accounts held by the Trustee
hereunder in one currency from any moneys, funds or accounts in any other
currencies, notwithstanding any provision herein which would otherwise permit
the Trustee to commingle such amounts.

 

SECTION 115.                                            Payment
to Be in Proper Currency.

 

Each
reference in any Debt Security, or in the Board Resolution relating thereto, to
any currency shall be of the essence. The obligation of the Company or the
Guarantor, as the case may be, to make any payment of principal of (and
premium, if any) and interest on any Debt Security shall not be discharged or
satisfied by any tender by the Company or the Guarantor, as the case may be, or
recovery by the Trustee, in any currency other than the Required Currency,
except to the extent than such tender or recovery shall result in the Trustee
timely holding the full amount of the Required Currency then due and payable. If
any such tender or recovery is in a currency other than the Required Currency,
the Trustee may take such actions as it considers appropriate to exchange such
currency for the Required Currency. The costs and risks of any such exchange,
including without limitation the risks of delay and exchange rate fluctuation,
shall be borne by the Company or the Guarantor, as the case may be, and the
Company or the Guarantor, as the case may be, shall remain fully liable for any
shortfall or delinquency in the full amount of Required Currency then due and
payable, and in no circumstances shall the Trustee be liable therefor. The
Company and the Guarantor each hereby waives any defense of payment based upon
any such tender or recovery which is not in the Required Currency, or which,
when exchanged for the Required Currency by the Trustee, is less than the full
amount of Required Currency then due and payable.

 

Any
costs incurred by or on behalf of the Company or the Guarantor, as the case may
be (other than costs incurred by the Trustee that are passed on to the Company
as provided above) in correction with the conversion of any Foreign Currency to
Dollars pursuant to an election made by a Holder in accordance with Section 301
shall be borne by the Holder making such an election through deduction from
payments required to be made to such Holder pursuant to the terms of this
Indenture.

 

13

 

ARTICLE TWO

FORMS OF DEBT SECURITIES AND GUARANTEES

 

SECTION 201.                                            Forms
Generally.

 

The
Debt Securities and the Guarantees relating thereto shall have 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 or designation and such legends or endorsements placed
thereon, as the Company or the Guarantor, as the case may be, may deem
appropriate and as are not inconsistent with the provisions of this Indenture,
or as may be required to comply with any law or with any rule or regulation
made pursuant thereto or with any rule or regulation of any securities exchange
on which any of the Debt Securities may be listed, or to conform to usage, all
as determined by the officers executing such Debt Securities, as conclusively
evidenced by their execution of such Debt Securities.

 

The
Trustee’s certificate of authentication shall be in substantially the form set
forth in Section 203.

 

SECTION 202.                                            Forms
of Debt Securities and Guarantees.

 

Each
Debt Security and the related Guarantee shall be in one of the forms approved
from time to time by or pursuant to a Board Resolution and an Officers’
Certificate or one or more indentures supplemental hereto which shall set forth
the information required by Section 301. If the form for a series of Debt
Securities or the related Guarantees 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 or the
Guarantor, as the case may be, and delivered to the Trustee at or prior to the
delivery of the Officers’ Certificate setting forth the form for such series.

 

SECTION 203.                                            Form
of Trustee’s Certificate of Authentication.

 

The
form of the Trustee’s certificate of authentication to be borne by the Debt
Securities shall be substantially as follows:

 

14

 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

 

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

 

	
   

  	
  THE BANK OF NEW YORK,

  
	
   

  	
   

  	
  as Trustee

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Authorized Signatory

  
						

 

SECTION 204.                                            CUSIP
Numbers.

 

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

 

15

 

ARTICLE THREE

THE DEBT SECURITIES

 

SECTION 301.                                            Amount
Unlimited; Issuable in Series.

 

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

 

The
Debt Securities may be issued in one or more series. There shall be established
in or pursuant to a Board Resolution, and set forth in an Officers’
Certificate, or established in one or more indentures supplemental hereto, with
such notification to the Trustee in advance of the issuance of the Debt
Securities of any Series as may be agreed upon by the parties hereto:

 

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

 

(2)           the
limit, if any, upon the aggregate principal amount of the Debt Securities of
the series which may be authenticated and delivered under this Indenture
(except for Debt Securities authenticated and delivered upon registration or,
transfer of, or in exchange for, or in lieu of, other Debt Securities of the
series pursuant to Section 304, 305, 306, 1007 or 1207);

 

(3)           the
date or dates, or the method or methods, if any, by which such date or dates
shall be determined or extended, on which the principal of the Debt Securities
of the series is payable;

 

(4)           the
rate or rates, if any, at which the Debt Securities of the series shall bear
interest, if any, or the method or methods, if any, by which such rate or rates
are to be determined or reset, the date or dates, if any, from which such interest
shall accrue, or the method or methods, if any, by which such date or dates
shall be determined or reset, the Interest Payment Dates, if any, on which such
interest shall be payable and the Regular Record Dates, if any, for the
interest payable on such Interest Payment Dates, and the basis upon which
interest shall be calculated if other than that of a 360-day year of twelve
30-day months;

 

(5)           the
place or places, if any, in addition to or other than the office or agency of
the Company in the Borough of Manhattan, The City of New York and State of New
York, where the principal of (and premium, if any) and interest on Debt
Securities of the series shall be payable, any Debt Securities may be
surrendered for registration of transfer or exchange and notices or demands to
or upon the Company or the Guarantor in respect of such Debt Securities and
related Guarantees and this Indenture may be served;

 

(6)           the
period or periods within which or the date or dates on which, if any, the price
or prices at which and the terms and conditions upon which Debt Securities of
the series may be redeemed, in whole or in part, at the option of the Company;

 

16

 

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

 

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

 

(9)           if
other than the principal amount thereof, the portion of the principal amount of
Debt Securities of the series which shall be payable upon declaration of
acceleration of the Maturity thereof pursuant to Section 602;

 

(10)         provisions,
if any, for the defeasance of Debt Securities of the series;

 

(11)         (A)
the currency of denomination of the Debt Securities of any series, which may be
in Dollars or any Foreign Currency, (B) if such Debt Securities are
denominated in a Foreign Currency which is a composite currency, the agency or
organization, if any, responsible for overseeing such composite currency and
(C) if such Debt Securities are denominated in a Foreign Currency other than a
composite currency, the capital city of the country of such Foreign Currency;

 

(12)         the
designation of the currency or currencies in which payment of the principal of
(and premium, if any) and interest on the Debt Securities of the series will be
made, and, if such currency or currencies is a Foreign Currency, whether
payment of the principal (and premium, if any) or the interest on such Debt
Securities, at the election of a Holder thereof, may instead be payable in
Dollars and the terms and conditions upon which such election may be made;

 

(13)         any
additional Events of Default or restrictive covenants provided for with respect
to Debt Securities of the series;

 

(14)         any
other terms of the series (which terms shall not be inconsistent with the
provisions of this Indenture), including any terms which may be required or advisable
under United States laws or regulations or advisable in connection wish the
marketing of Debt Securities of the series;

 

(15)         if
the Debt Securities of such series are to be denominated or payable in a
Foreign Currency, the designation of the initial Exchange Rate Agent and, if
other than as set forth herein, the definition of the Exchange Rate;

 

(16)         the
form of Debt Securities of such series and, if issuable in global form, the
name of the depository with respect thereto and the terms upon which and the
circumstances under which such Notes may be exchanged; and

 

(17)         the
ability, if any, of the Holder of a Debt Security to renew all or any portion
of a Debt Security.

 

17

 

All
Debt Securities of any one series shall be substantially identical except as to
the currency of payments due thereunder, denomination, the rate or rates of
interest, if any, and Maturity and except as may otherwise be provided in or
pursuant to such Board Resolution and set forth in such Officers’ Certificate
or in any such indenture supplemental hereto. In addition, all Debt Securities
of any one series need not be issued at the same time and, unless otherwise so
provided by the Company, a series may be reopened for issuance of additional
Debt Securities of such series or to establish additional terms of such series
of Debt Securities.

 

If any
of the terms of a series of Debt Securities is established by an 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 Officers’
Certificate setting forth the terms of such series.

 

SECTION 302.                                            Denominations.

 

Unless
otherwise specified in a supplemental indenture, the Debt Securities of each
series shall be issuable in registered form without coupons in such
denominations as shall be specified in accordance with the requirements of
Section 301. In the absence of any such provisions with respect to the Debt
Securities of any series, the Debt Securities of such series shall be issuable
in denominations of $1,000 or any integral multiple thereto. Debt Securities
denominated in a Foreign Currency shall be issuable in such denominations as
are established with respect to such Debt Securities in or pursuant to this
Indenture.

 

SECTION 303.                                            Execution,
Authentication, Delivery and Dating.

 

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

 

Debt
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 Debt Securities or did
not hold such offices at the date of such Debt Securities.

 

(b)           At any time and from time to time
after the execution and delivery of this Indenture, the Company may deliver
Debt Securities of any series executed by the Company, with the related
Guarantees endorsed thereon by the Guarantor, to the Trustee for
authentication, together with a Company Order for the authentication and
delivery of each such series of such Debt Securities, and the Trustee in accordance
with the Company Order shall authenticate and deliver such Debt Securities. The
Trustee shall be entitled to receive, prior to the authentication and delivery
of such Debt Securities, the supplemental indenture or the Board Resolution by
or pursuant to which the form and terms of such Debt Securities have been
approved (and, if such form or terms are approved, pursuant to a Board
Resolution, an Officers’ Certificate approving such terms and form), an
Officers’ Certificate as to the absence of any event which is, or after 

 

18

 

notice
or lapse of time or both would become, an Event of Default, and an Opinion of
Counsel stating that:

 

(1)           all
instruments furnished by the Company to the Trustee in connection with the
authentication and delivery of such Debt Securities conform to the requirements
of this Indenture and constitute sufficient authority hereunder for the Trustee
to authenticate and deliver such Debt Securities;

 

(2)           the
form and terms of such Debt Securities have been established in conformity with
the provisions of this Indenture;

 

(3)           in
the event that the form or terms of such Debt Securities have been established
in a supplemental indenture the execution and delivery of such supplemental indenture
have been duly authorized by all necessary corporate action of the Company,
such supplemental indenture has been duly executed and delivered by the Company
and, assuming due authorization, execution and delivery by the Trustee, will
constitute a legal, valid and binding obligation enforceable against the
Company in accordance with its terms, subject to applicable bankruptcy,
insolvency and similar laws affecting creditors’ rights generally and subject,
as to enforceability, to general principles of equity (regardless of whether
enforcement is sought in a proceeding in equity or at law);

 

(4)           the
execution and delivery of such Debt Securities have been duly authorized by all
necessary corporate action of the Company and such Debt Securities have been duly
executed by the Company, and, assuming due authentication by the Trustee and
delivery by the Company, will constitute the legal, valid and binding
obligations of the Company enforceable against the Company in accordance with
their terms, entitled to the benefit of the Indenture, subject to applicable
bankruptcy, insolvency and similar laws affecting creditors’ rights generally
and subject, as to enforceability, to general principles of equity (regardless
of whether enforcement is sought in a proceeding in equity or at law);

 

(5)           that
all laws and requirements hereunder in respect of the execution and delivery by
the Company of such Debt Securities have been complied with; and

 

(6)           such
other matters as the Trustee may reasonably request.

 

(c)           If all the Debt Securities of any
series are not to be issued at one time, it shall not be necessary to deliver
an Opinion of Counsel and Officers’ Certificates at the time of issuance of
each Debt Security, but such opinion and certificate, with appropriate modifications,
shall be delivered at or before the time of issuance of the first Debt Security
of such series. Any request by the Company that the Trustee authenticate Debt
Securities of such series will be deemed to be a certification by the Company
that (i) all conditions precedent provided for in this Indenture relating to
the authentication and delivery of such Debt Securities have been complied with
and (ii) there has not occurred an event which is, or after notice or
lapse of time or both, would become an Event of Default.

 

Notwithstanding
the above, if the terms of Debt Securities are to be established pursuant to a
supplemental indenture, the Company shall deliver to the Trustee, together with

 

19

 

such
supplemental indenture, the Opinion of Counsel referred to in subsection (b),
above, and the Officers’ Certificate, referred to in subsection (b), above,
regarding the absence of an Event of Default.

 

(d)           The Trustee shall not be required to
authenticate such Debt Securities if the issuance of such Debt Securities
pursuant to this Indenture will affect the Trustee’s own rights, duties or
immunities under the Debt Securities and this Indenture or otherwise in a
manner which is not reasonably acceptable to the Trustee or if the Trustee
determines that such authentication may not lawfully be made or if the Trustee
reasonably determines that such authentication would be prejudicial to the
Holders of Outstanding Debt Securities.

 

(e)           Each Debt Security shall be dated the
date of its authentication.

 

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

 

SECTION 304.                                            Temporary
Debt Securities.

 

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

 

Except
in the case of temporary Debt Securities in global form, which shall be
exchanged in accordance with the provisions thereof, if temporary Debt
Securities of any series are issued, the Company will cause definitive Debt
Securities of such series to be prepared without unreasonable delay. After the
preparation of definitive Debt Securities of such series, the temporary Debt
Securities of such series shall be exchangeable for definitive Debt Securities
of such series upon surrender of the temporary Debt Securities of such series
at the office or agency of the Company or the Guarantor in a Place of Payment
for such series, without charge to the Holder. Upon surrender for cancellation
of any one or more temporary Debt Securities of any series, the Company shall
execute and the Trustee shall authenticate and deliver in exchange therefor a
like principal amount of definitive Debt Securities (having the Guarantees duly
endorsed thereon) of the same series of authorized denominations and of the
same Stated Maturity. Unless otherwise specified as contemplated by Section 301
with respect to temporary Debt Securities in global form until so exchanged,
the temporary Debt Securities of any series shall in all respects be entitled
to the same benefits under this Indenture as definitive Debt Securities of such
series.

 

20

 

SECTION 305.                                            Registration,
Registration of Transfer and Exchange.

 

The
Company shall cause to be kept at one of its offices or agencies maintained
pursuant to Section 1102 a register (the register maintained in such office being
herein sometimes 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 Debt Securities and of transfers of Debt Securities. Said
office or agency is hereby appointed “Security Registrar” for the purpose of
registering Debt Securities and transfers of Debt Securities as herein
provided.

 

Upon
surrender for registration of transfer of any Debt Security of any series at
the office or agency of the Company maintained for such purpose, the Company
shall execute, and the Trustee shall authenticate and deliver, in the name of
the designated transferee or transferees, one or more new Debt Securities
(having the Guarantees duly endorsed thereon) of the same series of any
authorized denomination or denominations, of like tenor and aggregate principal
amount.

 

Unless
otherwise specified as contemplated by Section 301 with respect to Debt
Securities in global form at the option of the Holder, Debt Securities of any
series may be exchanged for other Debt Securities of the same series containing
identical terms and provisions of any authorized denomination or denominations,
of like aggregate principal amount, upon surrender of the Debt Securities to be
exchanged at such office or agency. Whenever any Debt Securities are so
surrendered for exchange, the Company shall execute, and the Trustee shall
authenticate and deliver, the Debt Securities (having the Guarantees duly
endorsed thereon) which the Holder making the exchange is entitled to receive.

 

Notwithstanding
the foregoing, unless otherwise specified as contemplated in Section 301, any
global Debt Security shall be exchangeable for definitive Debt Securities only
if (i) the depository is at any time unwilling, unable or ineligible to
continue as Depository and a successor depository is not appointed by the
Company within 60 days of the date the Company is so informed in writing, (ii)
the Company executes and delivers to the Trustee a Company Order to the effect
that such global Debt Security shall be so exchangeable, or (iii) an Event of
Default has occurred and is continuing with respect to the Debt Securities. If
the beneficial owners of interests in a global Debt Security are entitled to
exchange such interests for definitive Debt Securities, 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 Debt Securities in such form and denominations as are required by or
pursuant to this Indenture, and of the same series, containing identical terms
and in aggregate principal amount equal to the principal amount of, such global
Debt Security, executed by the Company. On or after the earliest date on which
such interests may be so exchanged, such global Debt Security shall be
surrendered from time to time by the depository specified in the Company Order
with respect thereto, and in accordance with instructions given to the Trustee
and such depository, as the case may be (which instructions shall be in writing
but need be contained in or accompanied by an Officers’ Certificate 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 Debt Securities
as described above without charge. The Trustee shall authenticate and make
available for delivery, in exchange for each 

 

21

 

portion
of such surrendered global Debt Security, a like aggregate principal amount of
definitive Debt Securities of the same series of authorized denominations and
of like tenor as the portion of such global Debt Security to be exchanged;
provided, however, that no such exchanges may occur during a period beginning
at the opening of business 15 days before any selection of Debt Securities of
the same series and continuing identical terms to be redeemed and ending on the
relevant Redemption Date. Promptly following any such exchange in part, such
global Debt Security shall be returned by the Trustee to such Depository. If a
Debt Security is issued in exchange for any portion of a global Debt Security
after the close of business at the office or agency of the Company for such
Debt Security where such exchange occurs on or after (i) any Regular Record
Date for such Debt Security and before the opening of business at such office
or agency on the next Interest Payment Date, or (ii) any Special Record Date
for such Debt Security 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, interest shall not be payable on such Interest
Payment Date or proposed date for payment, as the case may be, in respect of
such Debt Security, but shall 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 global Debt Security shall be
payable in accordance with the provisions of this Indenture.

 

All
Debt Securities and Guarantees endorsed thereon issued upon any registration of
transfer or exchange of Debt Securities shall be the valid obligations of the
Company and the Guarantor, respectively, evidencing the same debt, and entitled
to the same benefits under this Indenture, as the Debt Securities and
Guarantees endorsed thereon surrendered upon such registration of transfer or
exchange.

 

Every
Debt Security presented or surrendered for registration of transfer or for
exchange shall (if so required by the Company, the Security Registrar or the
Trustee) be duly endorsed, or be accompanied by a written instrument of
transfer in form satisfactory to the Company, the Security Registrar and the
Trustee duly executed, by the Holder thereof or his attorney duly authorized in
writing.

 

No
service charge shall be made for any registration of transfer or exchange of
Debt 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 transfer, registration of transfer or exchange of Debt Securities,
other than exchanges pursuant to Section 304, 1007 or 1207 not involving any
transfer.

 

Except
as otherwise provided in or pursuant to this Indenture the Company shall not be
required (i) to issue, register the transfer of or exchange Debt Securities of
any particular series during a period beginning at the opening of business 15
days before the day of the mailing of a notice of redemption of Debt Securities
of such series selected for redemption under Section 1203 and ending at the
close of business on the day of such mailing, (ii) to register the transfer of
or exchange any Debt Security called for redemption in whole or in part, except
the unredeemed portion of any Debt Security being redeemed in part, or (iii) to
issue, register the transfer of or exchange any Debt Security which has been
surrendered for repayment at the option of the Holder thereof, except the
portion, if any, of such Debt Security not to be so repaid.

 

22

 

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

 

If (i)
any mutilated Debt Security is surrendered to the Trustee, or (ii) the Company
and the Trustee receive evidence to their satisfaction of the destruction, loss
or theft of any Debt Security, and there is delivered to the Company, the
Guarantor and the Trustee such security or indemnity as may be required by them
to save each of them harmless, then, in the absence of notice to the Company or
the Trustee that such Debt Security has been acquired by a bona fide purchaser,
the Company shall execute and upon its written request the Trustee shall authenticate
and deliver, in exchange for any such mutilated Debt Security or in lieu of any
such destroyed, lost or stolen Debt Security, a new Debt Security (having a
Guarantee duly endorsed thereon) containing identical provisions and of like
principal amount bearing a number not contemporaneously outstanding.

 

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

 

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

 

Every
new Debt Security of any series issued pursuant to this Section in lieu of any
destroyed, lost or stolen Debt Security shall constitute an original additional
contractual obligation of the Company, whether or not the destroyed, lost or
stolen Debt 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 Debt Securities of that series and related Guarantees duly
issued hereunder.

 

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

 

SECTION 307.                                            Payment
of Interest; Interest Rights Preserved.

 

(a)           Unless otherwise specified as
contemplated by Section 301, interest on any Debt Security which is payable,
and is punctually paid or duly provided for, on any Interest Payment Date shall
be paid to the Person in whose name that Debt Security (or one or more
Predecessor Securities) is registered at the close of business on the Regular
Record Date for such interest, except that in the case of a Debt Security
issued between a Regular Record Date and the initial Interest Payment Date
relating to such Regular Record Date, interest for the period beginning on the
date of issue and ending on such initial Interest Payment Date shall be paid to
the person to whom such Debt Security shall have been originally issued. Unless
otherwise specified as contemplated by Section 301, at the option of the
Company, payment of interest on any Debt Security may be made by check mailed
to the address of the Person entitled thereto as such address shall appear in the
Security Register.

 

23

 

Unless
otherwise specified as contemplated by Section 301, any interest on any Debt
Security of any series which is payable, but is not punctually paid or duly
provided for, on any Interest Payment Date (herein called “Defaulted Interest”)
shall forthwith cease to be payable to the registered Holder on the relevant
Regular Record Date by virtue of his having been such Holder, and such
Defaulted Interest may be paid by the Company or the Guarantor, at its election
in each case, as provided in Clause (1) or (2) below:

 

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

 

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

 

(b)           The provisions of this Section 307(b)
may be made applicable to any series of Debt Securities issued pursuant to
Section 301 (with such modifications, additions or substitutions as may be
specified pursuant to such Section 301). The interest rate (or the spread and/or
spread multiplier used to calculate such interest rate, if applicable) on any
Debt Security of such series may be reset by the Company at its option on the
date or dates specified in such Debt Security (each, an “Optional Reset Date”).
The Company may exercise such option with 

 

24

 

respect
to any such Debt Security by notifying the Trustee of such exercise at least 45
but not more than 60 calendar days prior to an Optional Reset Date for such
Debt Security. If the Company so notifies the Trustee of such exercise, not
later than 40 calendar days prior to such Optional Reset Date the Trustee shall
transmit, in the manner provided for in Section 106, to the Holder of such Debt
Security a notice (the “Reset Notice”) indicating (i) that the Company has
elected to reset the interest rate (or the spread and/or spread multiplier used
to calculate such interest rate, if applicable), (ii) such new interest rate
(or such new spread and/or spread multiplier, if applicable) and (iii) the
provisions, if any, for redemption by the Company during the period from such
Optional Reset Date to the next Optional Reset Date or, if there is no such
next Optional Reset Date, to the Stated Principal Maturity of such Debt
Security (each such period, a “Subsequent Interest Period”), including the date
or dates on which, or the period or periods during which, and the price or
prices at which such redemption may occur during such Subsequent Interest
Period.

 

Notwithstanding
the foregoing, not later than 20 calendar days prior to the applicable Optional
Reset Date for a Debt Security, the Company may, at its option, revoke the
interest rate (or the spread and/or spread multiplier used to calculate such
interest rate, if applicable) provided for in the Reset Notice and establish an
interest rate (or a spread and/or spread multiplier used to calculate such
interest rate, if applicable) that is higher than the interest rate (or the
spread and/or spread multiplier, if applicable) provided for in the Reset
Notice, for the Subsequent Interest Period by causing the Trustee to transmit,
in the manner provided for in Section 106, notice of such higher interest rate
(or such higher spread and/or spread multiplier, if applicable) to the Holder
of such Debt Security. Such notice shall be irrevocable. All Debt Securities
with respect to which the interest rate (or the spread and/or spread multiplier
used to calculate such interest rate, if applicable) is reset on an Optional
Reset Date, and with respect to which the Holders of such Debt Securities have
not surrendered such Debt Securities for repayment (or have validly revoked any
such surrender) pursuant to the next succeeding paragraph, will bear such
higher interest rate (or such higher spread and/or spread multiplier, if
applicable).

 

If the
provisions of Section 307(b) are made applicable to any Debt Security and the
Company notifies the Trustee of the exercise of its option to reset the
interest rate (or the spread and/or spread multiplier used to calculate such
interest rate, if applicable) on such Debt Security on an Optional Reset Date,
the Holder of such Debt Security will have the option to elect repayment by the
Company of such Debt Security on such Optional Reset Date at a price equal to
the principal amount thereof plus any accrued interest to such Optional Reset
Date. In order to obtain repayment of such Debt Security on such Optional Reset
Date, the Holder must follow the procedures set forth in Section 1503 for
repayment at the option of Holders, except that (i) the period for delivery of
such Debt Security or notification to the Trustee shall be at least 25 but not
more than 35 calendar days prior to such Optional Reset Date and (ii) if the
Holder has surrendered such Debt Security for repayment following receipt of
the Reset Notice, the Holder may revoke such surrender for repayment by written
notice to the Trustee received prior to 5:00 P.M., New York City time, on the
tenth calendar day prior to such Optional Reset Date.

 

Subject
to the foregoing provisions of this Section and Section 305, each Debt Security
delivered under this Indenture upon registration of transfer of or in exchange
for or in 

 

25

 

lieu of
any other Debt Security shall carry the rights to interest accrued and unpaid,
and to accrue, which were carried by such other Debt Security.

 

SECTION 308.                                            Persons
Deemed Owners.

 

Prior
to due presentment of a Debt Security for registration of transfer, the
Company, the Guarantor, the Trustee and any agent of the Company, the Guarantor
or the Trustee may treat the Person in whose name such Debt Security is
registered as the owner of such Debt Security for the purpose of receiving
payment of principal of (and premium, if any) and (subject to Sections 305 and
307) interest on such Debt Security and for all other purposes whatsoever,
whether or not such Debt Security be overdue, and neither the Company, the
Guarantor, the Trustee nor any agent of the Company, the Guarantor or the
Trustee shall be affected by notice to the contrary.

 

No
holder of any beneficial interest in any global Debt Security held on its
behalf by a depository shall have any rights under this Indenture with respect
to such global Debt Security, and such depository may be treated by the
Company, the Guarantor, the Trustee, and any agent of the Company, the
Guarantor or the Trustee as the owner of such global Debt Security for all
purposes whatsoever. None of the Company, the Guarantor, the Trustee nor any
agent of the Company, the Guarantor or the Trustee will have any responsibility
or liability for any aspect of the records relating to or payments made on
account of beneficial ownership interests of a global Debt Security or for
maintaining, supervising or reviewing any records relating to such beneficial
ownership interests.

 

SECTION 309.                                            Cancellation.

 

Unless
otherwise provided with respect to a series of Debt Securities, all Debt
Securities surrendered for payment, redemption, repayment, 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 or the Guarantor may at any
time deliver to the Trustee for cancellation any Debt Securities previously
authenticated and delivered hereunder which the Company or the Guarantor may
have acquired in any manner whatsoever, and all Debt Securities so delivered
shall be promptly cancelled by the Trustee. No Debt Securities shall be
authenticated in lieu of or in exchange for any Debt Securities cancelled as
provided in this Section, except as expressly permitted by this Indenture. All
cancelled Debt Securities held by the Trustee shall be retained by the Trustee
for such period as it may, in its sole discretion, determine unless by a
Company Order or a Guarantor Order the Company or the Guarantor, as the case
may be, shall direct that the cancelled Debt Securities be returned to it.

 

SECTION 310.                                            Computation
of Interest.

 

Except
as otherwise specified as contemplated by Section 301 for Debt Securities of
any series, interest on the Debt Securities of each series shall be computed on
the basis of a year of twelve 30-day months.

 

26

 

SECTION 311.                                            Payment
in Currencies.

 

(a)           Payment of the principal of (and premium,
if any) and interest on the Debt Securities of any series shall be made in the
currency or currencies specified pursuant to Section 301; provided
that in the case of Debt Securities of a series denominated in one or more
Foreign Currencies the Holder of a Debt Security of such series may elect to
receive such payment in Dollars if authorized pursuant to Section 301(12).

 

A
Holder may make such election by delivering to the Trustee a written notice
thereof, substantially in the form attached hereto as Exhibit A or in such
other form as may be acceptable to the Trustee, not later than the close of
business on the Regular or Special Record Date immediately preceding the
applicable Interest Payment Date or the fifteenth day immediately preceding the
Maturity of an installment of principal, as the case may be. Such election
shall remain in effect with respect to such Holder until such Holder delivers
to the Trustee a written notice rescinding such election, provided that
any such notice must be delivered to the Trustee not later than the close of
business on the Regular or Special Record Date immediately preceding the next
Interest Payment Date or the fifteenth day immediately preceding the Maturity
of an installment of principal, as the case may be, in order to be effective
for the payment to be made thereon; and provided, further, that
no such rescission may be made with respect to payments to be made on any Debt
Security with respect to which notice of redemption has been given by the
Company pursuant to Article Twelve or a notice of option to elect repayment has
been sent by a Holder or transferee pursuant to Article Fifteen.

 

(b)           If at least one Holder has made the
election referred to in subsection (a) above to receive payments in Dollars on
a series of Debt Securities denominated in one or more Foreign Currencies, then
the Trustee shall deliver to the Company, not later than the fourth Business
Day after the Regular or Special Record Date with respect to an Interest
Payment Date or the tenth day immediately preceding the Maturity of an
installment of principal, as the case may be, a written notice specifying the
amount of principal of (and premium, if any) and interest on such series of
Debt Securities to be paid in Dollars on such payment date.

 

(c)           Except as otherwise specified as
contemplated by Section 301 hereof, if at least one Holder has made the
election referred to in subsection (a) above to receive payments in Dollars on
a series of Debt Securities denominated in one or more Foreign Currencies, then
the amount receivable by Holders of a series of Debt Securities who have
elected payment in Dollars shall be determined by the Company on the basis of
the applicable Exchange Rate set forth in the applicable Exchange Rate Officer’s
Certificate. The Company shall deliver, not later than the eighth day following
each Regular or Special Record Date or the sixth day immediately preceding the
Maturity of an installment of principal, as the case may be, to the Trustee an
Exchange Rate Officer’s Certificate in respect of the payments to be made to
such Holders on such payment date.

 

(d)           (i) 
If the Foreign Currency in which a series of Debt Securities is
denominated is not available to the Company for making payment thereof due to
the imposition of exchange controls or other circumstances beyond the control
of the Company, then with respect to each date for the payment of principal of
(and premium, if any) and interest on such series of Debt Securities occurring
after the final date on which the Foreign Currency was so 

 

27

 

used,
all payments with respect to the Debt Securities of any such series shall be
made in Dollars. If payment is to be made in Dollars to the Holders of any such
series of Debt Securities pursuant to the provisions of the preceding sentence,
then the amount to be paid in Dollars on a payment date by the Company to the
Trustee and by the Trustee or any Paying Agent to Holders shall be determined
by an Exchange Rate Agent and shall be equal to the sum obtained by converting
the specified Foreign Currency into Dollars at the applicable Exchange Rate, or
if no rate is quoted for such Foreign Currency, the last date such rate is
quoted.

 

(ii)  If any composite currency in which a Debt
Security is denominated or payable ceases to be used for the purposes for which
it was established or is not available due to circumstances beyond the control
of the Company, then with respect to each date for the payment of principal of
(and premium, if any) and interest on a series of Debt Securities denominated
in such composite currency (the “Conversion Date”) occurring after the last
date on which the composite currency was so used, all payments with respect to
the Debt Securities of any such series shall be made in Dollars. If payment
with respect to Debt Securities of a series denominated in a composite currency
is to be made in Dollars pursuant to the provisions of the preceding sentence,
then the amount to be paid in Dollars on a payment date by the Company to the Trustee
and by the Trustee or any Paying Agent to Holders shall be determined by an
Exchange Rate Agent and shall be equal to the sum of the amounts obtained by
converting each Component of such composite currency into Dollars at its
respective Exchange Rate, multiplied by the number of units of the composite
currency that would have been so paid had the composite currency not ceased to
be so used.

 

(e)           All decisions and determinations of
an Exchange Rate Agent regarding the Exchange Rate or conversion of Foreign
Currency (other than a composite currency) into Dollars pursuant to subsection
(d) (i) above or the conversion of a composite currency into Dollars pursuant
to subsection (d) (ii) shall, in the absence of manifest error, be conclusive
for all purposes and irrevocably binding upon the Company, the Trustee, any
Paying Agent and all Holders of the Debt Securities. If a Foreign Currency
(other than a composite currency) in which payment of a series of Debt
Securities may be made, pursuant to subsection (a) above, is not available to
the Company for making payments thereof due to the imposition of exchange
controls or other circumstances beyond the control of the Company, the Company,
after learning thereof, will give notice thereof to the Trustee immediately
(and the Trustee promptly thereafter will give notice to the Holders in the
manner provided in Section 106) specifying the last date on which the Foreign
Currency was used for the payment of principal of (and premium, if any) or
interest on such series of Debt Securities. In the event any composite currency
in which a Debt Security is denominated or payable ceases to be used for the
purposes for which it was established or is not available due to circumstances
beyond the control of the Company, the Company, after learning thereof, will
give notice thereof to the Trustee immediately (and the Trustee promptly
thereafter will give notice to the Holders in the manner provided in Section
106). In the event of any subsequent change in any Component, the Company,
after learning thereof, will give notice to the Trustee similarly (and the
Trustee promptly thereafter will give notice to the Holders in the manner
provided in Section 106). The Trustee shall be fully justified and protected in
relying and acting upon the information so received by it from the Company and
shall not otherwise have any duty or obligation to determine such information
independently.

 

28

 

SECTION
312. Optional Extension of Stated Principal Maturity.

 

The
provisions of this Section 312 may be made applicable to any series of Debt
Securities issued pursuant to Section 301 (with such modifications, additions
or substitutions as may be specified pursuant to such Section 301). The Stated
Principal Maturity of any Debt Security of such series may be extended by the
Company at its option for the period or periods specified in such Debt Security
(each such period, an “Extension Period”) up to but not beyond the date (the “Final
Maturity”) specified in such Debt Security. The Company may exercise such
option with respect to any such Debt Security by notifying the Trustee of such
exercise at least 45 but not more than 60 calendar days prior to the Stated
Principal Maturity of such Debt Security then in effect (the “Current Stated
Principal Maturity”). If the Company so notifies the Trustee of such exercise,
not later than 40 calendar days prior to the Current Stated Principal Maturity
the Trustee shall transmit, in the manner provided for in Section 106, to the
Holder of such Debt Security a notice (the “Extension Notice”) indicating (i)
that the Company has elected to extend the Current Stated Principal Maturity,
(ii) the new Stated Principal Maturity and the Final Maturity, (iii) the
interest rate (or the spread and/or spread multiplier used to calculate such
interest rate, if applicable) applicable to the Extension Period and (iv) the
provisions, if any, for redemption by the Company during such Extension Period,
including the date or dates on which, or the period or periods during which,
and the price or prices at which such redemption may occur during such
Extension Period. Upon the Trustee’s transmittal of the Extension Notice to the
Holder of such Debt Security, the Current Stated Principal Maturity of such
Debt Security shall be extended automatically and, except as modified by the
Extension Notice and as described in the next two paragraphs, such Debt
Security will have the same terms as prior to the transmittal of such Extension
Notice.

 

Notwithstanding
the foregoing, not later than 20 calendar days prior to the Current Stated
Principal Maturity of such Debt Security, the Company may, at its option,
revoke the interest rate (or the spread and/or spread multiplier used to
calculate such interest rate, if applicable) provided for in the Extension
Notice and establish an interest rate (or a spread and/or spread multiplier
used to calculate such interest rate, if applicable) that is higher than the
interest rate (or the spread and/or spread multiplier, if applicable) provided
for in the Extension Notice for the Extension Period by causing the Trustee to
transmit, in the manner provided for in Section 106, notice of such higher
interest rate (or such higher spread and/or spread multiplier, if applicable)
to the Holder of such Debt Security. Such notice shall be irrevocable. All Debt
Securities with respect to which the Current Stated Principal Maturity is
extended, and with respect to which the Holders of such Debt Securities have
not surrendered such Debt Securities for repayment (or have validly revoked any
such surrender), will bear such higher interest rate (or such higher spread
and/or spread multiplier, if applicable).

 

If the
provisions of this Section 312 are made applicable to any Debt Security and the
Company notifies the Trustee of the exercise of its option to extend the
Current Stated Principal Maturity of such Debt Security, the Holder of such
Debt Security will have the option to elect repayment of such Debt Security by
the Company on the Current Stated Principal Maturity at a price equal to the
principal amount thereof plus any accrued interest to the Current Stated
Principal Maturity. In order to obtain repayment of such Debt Security on the
Current Stated Principal Maturity, the Holder must follow the procedures set
forth in Section 1503 for repayment at the option of Holders, except that (i)
the period for delivery of such Debt Security or notification to the Trustee
shall be at least 25 but not more than 35 calendar days prior to the Current Stated
Principal Maturity and (ii) if the Holder has surrendered such Debt Security
for 

 

29

 

repayment
following receipt of the Extension Notice, the Holder may revoke such surrender
for repayment prior to 5:00 P.M., New York City time, on the tenth calendar day
prior to the Current Stated Principal Maturity.

 

30

 

ARTICLE FOUR

GUARANTEES OF DEBT SECURITIES

 

SECTION 401.                                            Unconditional
Guarantee.

 

The
Guarantor hereby unconditionally guarantees to each Holder of a Debt Security
authenticated and delivered by the Trustee the due and punctual payment of the
principal of and premium, if any, and any interest on such Debt Security and
the due and punctual payment of the sinking fund payments, if any, provided for
pursuant to the terms of such Debt Security, when and as the same shall become
due and payable, whether at maturity, by acceleration, redemption or otherwise,
in accordance with the terms of such Debt Security and of this Indenture. In
case of the failure of the Company punctually to pay any such principal,
premium, interest or sinking fund payment, the Guarantor hereby agrees to cause
any such payment to be made punctually when and as the same shall become due and
payable, whether at maturity, upon acceleration, redemption or otherwise, and
as if such payment were made by the Company.

 

The
Guarantor hereby agrees that its obligations hereunder shall be as principal
and not merely as surety, and shall be absolute, irrevocable and unconditional,
irrespective of, and shall be unaffected by, any invalidity, irregularity or
unenforceability of such Debt Security or this Indenture, any failure to
enforce the provisions of any such Debt Security or this Indenture, or any waiver,
modification, consent or indulgence granted to the Company with respect thereto
by the Holder of such Debt Security or the Trustee, the recovery of any
judgment against the Company or any action to enforce the same, or any other
circumstances which may otherwise constitute a legal or equitable discharge of
a surety or guarantor. The Guarantor hereby waives diligence, presentment,
demand of payment, filing of claims with a court in the event of merger,
insolvency or bankruptcy of the Company, any right to require a proceeding
first against the Company, protest or notice with respect to any such Debt
Security or the indebtedness evidenced thereby and all demands whatsoever, and
covenants that the Guarantees will not be discharged except by payment in full
of the principal of and premium, if any, and interest on, and any sinking fund
payments required with respect to, the Debt Securities and the complete
performance of all other obligations contained in the Debt Securities.

 

The
Guarantor shall be subrogated to all rights of the Holder of any Debt Security
against the Company in respect of any amounts paid to such Holder by the
Guarantor pursuant to the provisions of the Guarantees; provided, however,
that the Guarantor shall not be entitled to enforce, or to receive any payments
arising out of or based upon, such right of subrogation until the principal of
and premium, if any, and interest on, and any sinking fund payments required
with respect to, all Debt Securities of the same series shall have been paid in
full.

 

SECTION 402.                                            Execution,
Authentication and Delivery.

 

To
evidence the Guarantees to the Holders specified in Section 401, the Guarantor
hereby agrees to execute a Guarantee on each Debt Security authenticated and
delivered by the Trustee. The Guarantees shall be executed on behalf of the
Guarantor by its Chairman of the Board, one of its Vice Chairmen, its President
or one of its Vice Presidents, under its corporate 

 

31

 

seal
reproduced thereon, and attested by its Secretary or one of its Assistant
Secretaries. The signature of any of these officers on the Guarantees may be
manual or facsimile.

 

Guarantees
bearing the manual or facsimile signatures of individuals who were at any time
the proper officers of the Guarantor shall bind the Guarantor notwithstanding
that such individuals or any of them have ceased to hold such offices prior to
the authentication and delivery of such Guarantees or did not hold such offices
au the date of such Guarantees. The delivery by the Trustee of a Debt Security
with such a Guarantee endorsed thereon shall, after the authentication of such
Debt Security hereunder, constitute due delivery of such Guarantee on behalf of
the Guarantor.

 

No
Guarantee endorsed on any Debt Security shall be entitled to any benefit under
this Indenture or be valid or obligatory for any purpose unless there appears
on the Debt Security on which such Guarantee is endorsed a certificate of
authentication substantially in the form provided for herein executed by the
Trustee by manual signature.

 

32

 

ARTICLE FIVE

SATISFACTION AND DISCHARGE

 

SECTION 501.                                            Satisfaction
and Discharge of Indenture.

 

This
Indenture shall upon a Company Request or a Guarantor Request cease to be of
further effect with respect to any series of Debt Securities specified therein
(except as to any surviving rights of registration of transfer or exchange of
Debt Securities of such series herein expressly provided for and rights to
receive payments of principal, premium and interest thereon) and the Trustee,
at the expense of the Company and the Guarantor, shall execute proper
instruments acknowledging satisfaction and discharge of this Indenture, when

 

(1)           either

 

(A)          all
Debt Securities of such series theretofore authenticated and delivered (other
than (i) Debt Securities of such series which have been destroyed, lost or
stolen and which have been replaced or paid as provided in Section 306 and (ii)
Debt Securities of such series for whose payment money in the Required Currency
has theretofore been deposited in trust or segregated and held in trust by the
Company and thereafter repaid to the Company or discharged from such trust, as
provided in Section 1103) have been delivered to the Trustee for cancellation;
or

 

(B)           all
Debt Securities of such series not theretofore delivered to the Trustee for
cancellation

 

(i)            have
become due and payable, or

 

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

 

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

 

and the Company or the
Guarantor, in the case of (i), (ii) or (iii) above, has irrevocably deposited
or caused to be deposited with the Trustee as trust funds in trust for the
purpose an amount in the Required Currency sufficient to pay and discharge the
entire indebtedness on such Debt Securities for principal (and premium, if any)
and interest to the date of such deposit (in the case of Debt Securities which
become due and payable) or to the Stated Maturity or Redemption Date, as the
case may be;

 

(2)           the
Company or the Guarantor has paid or caused to be paid all other sums payable
hereunder by the Company and the Guarantor with respect to the Outstanding Debt
Securities of such series; and

 

33

 

(3)           the
Company and the Guarantor have each delivered to the Trustee an Officers’ Certificate
and an Opinion of Counsel each stating that all conditions precedent herein
provided for relating to the satisfaction and discharge of this Indenture as to
such series have been complied with.

 

In the
event that there are Debt Securities of two or more series hereunder, the
Trustee shall be required to execute an instrument acknowledging satisfaction
and discharge of the Indenture only if requested to do so with respect to the
Debt Securities of such series as to which it is Trustee and if the other
conditions thereto are met.

 

Notwithstanding
the satisfaction and discharge of this Indenture with respect to any series of
Debt Securities, the obligations of the Company and the Guarantor pursuant to
Section 115, the obligations of the Company and the Guarantor to the Trustee
under Section 707 and, if money shall have been deposited with the Trustee
pursuant to Subclause (B) of Clause (1) of this Section, the obligations of the
Trustee under Section 502 and the last paragraph of Section 1103 shall survive.

 

SECTION 502.                                            Application
of Trust Money.

 

Subject
to the provisions of the last paragraph of Section 1103, all money deposited
with the Trustee pursuant to Section 501 shall be held in trust and applied by
it, in accordance with the provisions of the Debt 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 the
Trustee.

 

34

 

ARTICLE SIX

REMEDIES

 

SECTION 601.                                            Events
of Default.

 

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

 

(1)           default
in the payment of any interest upon any Debt Security of such series when it
becomes due and payable, and continuance of such default for a period of 30
days; or

 

(2)           default
in the payment of the principal of (or premium, if any, on) any Debt Security
of such series at its Maturity; or

 

(3)           default
in the deposit of any sinking fund payment when and as due by the terms of a
Debt Security of such series; or

 

(4)           default
in the performance, or breach, of any covenant or warranty of the Company or
the Guarantor in this Indenture, the Debt Securities or the related Guarantees
(other than a covenant or warranty a default in whose performance or whose
breach is elsewhere in this Section specifically dealt with or which has
expressly been included in this Indenture solely for the benefit of Debt
Securities of a series other than such series), and continuance of such default
or breach for a period of 60 days after there has been given, by registered or
certified mail, to the Company and the Guarantor by the Trustee or to the
Company, the Guarantor and the Trustee by the Holders of at least 25% in
aggregate principal amount of the Outstanding Debt Securities of such series, a
written notice specifying such default or breach and requiring it to be
remedied and stating that such notice is a “Notice of Default” hereunder; or

 

(5)           if
an event of default as defined in any mortgage, indenture or instrument under
which there may be issued, or by which there may be secured or evidenced, any
indebtedness for borrowed money of the Company, the Guarantor or any Subsidiary
(including this Indenture), whether such indebtedness now exists or shall
hereafter be created, shall happen and shall result in such indebtedness in an
amount in excess of $100,000,000 becoming or being declared due and payable
prior to the date on which it would otherwise become due and payable; and such
acceleration shall not be rescinded or annulled for a period of 10 days after
there has been given, by registered or certified mail, to the Company and the
Guarantor by the Trustee or to the Company, the Guarantor and the Trustee by
the Holders of at least 25% in aggregate principal amount of the Outstanding
Debt Securities of such series, a written notice specifying such event of
default and requiring it to be remedied and stating that such notice is a “Notice
of Default” hereunder; or

 

35

 

(6)           the
entry of a decree or order for relief in respect of the Company or the
Guarantor by a court having jurisdiction in the premises in an involuntary case
under the Federal bankruptcy laws, as now or hereafter constituted, or any
other Federal or State bankruptcy, insolvency or other similar law, or appointing
a receiver, liquidator, assignee, custodian, trustee, sequestrator (or other
similar official) of the Company or the Guarantor or of any substantial part of
its property, or ordering the winding up or liquidation of its affairs, and the
continuance of any such decree or order unstayed and in effect for a period of
90 consecutive days; or

 

(7)           the
commencement by the Company or the Guarantor of a voluntary case under the
Federal bankruptcy laws, as now or hereafter constituted, or any other applicable
Federal or State bankruptcy, insolvency or other similar law, or the consent by
it to the entry of an order for relief in an involuntary case under any such
law or to the appointment of a receiver, liquidator, assignee, custodian,
trustee, sequestrator (or other similar official) of the Company or the
Guarantor or of any substantial part of its property, or the making by it of an
assignment for the benefit of creditors, or the admission by it in writing of
its inability to pay its debts generally as they become due, or the taking of
any corporate action in furtherance of any of the foregoing; or

 

(8)           any
other Event of Default provided with respect to the Debt Securities of such
series.

 

SECTION 602.                                            Acceleration
of Maturity; Rescission and Annulment.

 

If an
Event of Default with respect to Debt Securities of any series at the time
Outstanding occurs and is continuing, then and in every such case the Trustee
or the Holders of not less than 25% in aggregate principal amount of
Outstanding Debt Securities of such series may declare the principal amount
(or, if the Debt Securities of such series are Original Issue Discount
Securities, such portion of the principal amount as may be specified in the
terms of such series) of all the Debt Securities of such series to be due and
payable immediately, by a notice in writing to the Company and the Guarantor
(and to the Trustee if given by Holders), and upon any such declaration such
principal amount (or specified amount) shall become immediately due and
payable.

 

At any
time after such a declaration of acceleration with respect to Debt Securities
of any series has been made and before a judgment or decree for payment of the
money due has been obtained by the Trustee as hereinafter in this Article
provided, the Holders of a majority in aggregate principal amount of the
Outstanding Debt Securities of such series, by written notice to the Company,
the Guarantor and the Trustee, may rescind and annul such declaration and its
consequences if

 

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

 

(A)          all
overdue installments of interest on all Debt Securities of such series,

 

36

 

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

 

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

 

(D)          all
sums paid or advanced by the Trustee hereunder and the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel;
and

 

(2)           all
Events of Default with respect to Debt Securities of such series, other than
the non-payment of the principal of Debt Securities of such series which have
become due solely by such declaration of acceleration, have been cured or
waived as provided in Section 613.

 

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

 

SECTION 603.                                            Collection
of Indebtedness and Suits for Enforcement by Trustee.

 

The
Company and the Guarantor covenant that if:

 

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

 

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

 

the Company or the Guarantor will, upon demand of the
Trustee, pay to the Trustee, for the benefit of the Holders of such Debt
Securities, the amount then due and payable on such Debt Securities for
principal (and premium, if any) and interest and, to the extent that payment of
such interest shall be legally enforceable, interest upon the overdue principal
(and premium, if any) and upon overdue installments of interest, at the rate or
rates prescribed therefor in such Debt Securities; and, in addition thereto,
such further amount as shall be sufficient to cover the costs and expenses of
collection, including the reasonable compensation, expenses, disbursements and advances
of the Trustee, its agents and counsel.

 

If the
Company or the Guarantor 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, and may
prosecute such proceeding to judgment or final decree, and may enforce the same
against the Company or the Guarantor or any other obligor upon such Debt
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 the Guarantor or
any other obligor upon such Debt Securities, wherever situated.

 

37

 

If an
Event of Default with respect to Debt 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 Debt Securities of such series by
such appropriate judicial proceedings as the Trustee shall deem most effectual
to protect and enforce any such rights, whether for the specific enforcement of
any covenant or agreement in this Indenture or in aid of the exercise of any
power granted herein, or to enforce any other proper remedy.

 

SECTION 604.                                            Trustee
May File Proofs of Claim.

 

In
case of the pendency of any receivership, insolvency, liquidation, bankruptcy,
reorganization, arrangement, adjustment, composition or other judicial
proceedings, or any voluntary or involuntary case under the Federal bankruptcy
laws as now or hereafter constituted, relative to the Company or any other
obligor upon the Debt Securities of a particular series or the property of the
Company, the Guarantor or such other obligor or their creditors, the Trustee
(irrespective of whether the principal of such Debt Securities shall then be
due and payable as therein expressed or by declaration or otherwise and
irrespective of whether the Trustee shall have made any demand on the Company
or the Guarantor for the payment of overdue principal or interest) shall be
entitled and empowered, by intervention in such proceeding or otherwise,

 

(i)            to
file and prove a claim for the whole amount of principal (and premium, if any)
and interest owing and unpaid in respect of the Debt Securities of such series
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 agents
and counsel) and of the Holders allowed in such judicial proceeding, and

 

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

 

and any receiver, assignee, trustee, custodian,
liquidator, sequestrator (or other similar official) in any such proceeding is
hereby authorized by each Holder (i) to make such payments to the Trustee, and
(ii) 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
707.

 

Nothing
herein contained shall be deemed to authorize the Trustee to authorize or
consent to or accept or adopt on behalf of any Holder any plan of
reorganization, arrangement, adjustment or composition affecting the Debt
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 605.                                            Trustee
May Enforce Claims without Possession of Debt Securities.

 

All
rights of action and claims under this Indenture or the Debt Securities or the
related Guarantees may be prosecuted and enforced by the Trustee without the
possession of any of the Debt 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 

 

38

 

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 Debt
Securities in respect of which such judgment has been recovered.

 

SECTION 606.                                            Application
of Money Collected.

 

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

 

FIRST:  To the payment of all amounts due the Trustee
under Section 707;

 

SECOND:  To the payment of the amounts then due and
unpaid for principal of (and premium, if any) and interest on the Debt
Securities, in respect of which or for the benefit of which such money has been
collected ratably, without preference or priority of any kind, according to the
amounts due and payable on such Debt Securities for principal (and premium, if
any) and interest, respectively. The Holders of each series of Debt Securities
denominated in a Foreign Currency shall be entitled to receive a ratable
portion of the amount determined by an Exchange Rate Agent by converting the
principal amount Outstanding of such series of Debt Securities in the currency
in which such series of Debt Securities is denominated into Dollars at the
Exchange Rate as of the date of declaration of acceleration of the Maturity of
the Debt Securities (or, if there is no such rate on such date for the reasons
specified in Section 311(d) of the Indenture, such rate on the date specified
in such Section); and

 

THIRD:  The balance, if any, to the Person or Persons
entitled thereto.

 

SECTION 607.                                            Limitation
on Suits.

 

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

 

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

 

(2)           the
Holders of not less than 25% in aggregate principal amount of the Outstanding
Debt Securities of such series shall have made written request to the Trustee
to institute proceedings in respect of such Event of Default in its own name as
Trustee hereunder;

 

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

 

39

 

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

 

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

 

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

 

SECTION 608.                                            Unconditional
Right of Holders to Receive Principal, Premium (if any) and Interest.

 

Notwithstanding
any other provision in this Indenture, the Holder of any Debt 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 307) interest on
such Debt Security on the respective Stated Maturity or Maturities expressed in
such Debt Security (or, in the case of redemption, on the Redemption Date or,
in the case of repayment, on the Repayment Date) and to institute suit for the
enforcement of any such payment, and such right shall not be impaired without
the consent of such Holder.

 

SECTION 609.                                            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 the Company, the Guarantor, the
Trustee and the Holders shall, subject to any determination in such proceeding,
be restored severally and respectively to their former positions hereunder, and
thereafter all rights and remedies of the Trustee and the Holders shall
continue as though no such proceeding had been instituted.

 

SECTION 610.                                            Rights
and Remedies Cumulative.

 

Except
as otherwise provided in Section 306, no right or remedy herein conferred upon
or reserved to the Trustee or to the Holders is intended to be exclusive of any
other right or remedy, and every right and remedy shall, to the extent
permitted by law, be cumulative and in addition to every other right and remedy
given hereunder or now or hereafter existing at law or in equity or otherwise. The
assertion or employment of any right or remedy hereunder, or otherwise, shall
not prevent the concurrent assertion or employment of any other appropriate
right or remedy.

 

SECTION 611.                                            Delay
or Omission Not Waiver.

 

No
delay or omission of the Trustee or of any Holder of any Debt Security to
exercise any right or remedy accruing upon any Event of Default shall impair
any such right or 

 

40

 

remedy
or constitute a waiver of any such Event of Default or an acquiescence therein.
Every right and remedy given by this Article or by law to the Trustee or to the
Holders may be exercised from time to time, and as often as may be deemed
expedient, by the Trustee or by the Holders, as the case may be.

 

SECTION 612.                                            Control
by Holders.

 

The
Holders of a majority in aggregate principal amount of the Outstanding Debt
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 Debt
Securities of such series, provided, that the Trustee shall have the
right to decline to follow any such direction

 

(1)           if
the Trustee being advised by counsel shall determine that the action so
directed may not lawfully be taken, or if the Trustee in good faith shall, by a
Responsible Officer or Officers of the Trustee, determine that the proceedings
would be illegal or in conflict with this Indenture or involve it in personal
liability; and

 

(2)           subject
to the provisions of Section 701, if the Trustee in good faith shall, by a
Responsible Officer or Responsible Officers of the Trustee, determine that the
proceeding so directed would be unjustly prejudicial to the Holders of Debt
Securities of such series not joining in any such direction, and the Trustee
may take any other action deemed proper by the Trustee which is not inconsistent
with such direction.

 

SECTION 613.                                            Waiver
of Past Defaults.

 

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

 

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

 

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

 

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

 

SECTION 614.                                            Undertaking
for Costs.

 

All
parties to this Indenture agree, and each Holder of any Debt 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 

 

41

 

litigant
in such suit of an undertaking to pay the costs of such suit, and that such
court may in its discretion assess reasonable costs, including reasonable
attorneys’ fees, against any party litigant in such suit, having due regard to
the merits and good faith of the claims or defenses made by such party
litigant; but the provisions of this Section shall not apply to any suit
instituted by the Trustee, to any suit instituted by any Holder, or group of
Holders, holding more than 10% in aggregate principal amount of the Outstanding
Debt 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 Debt Security on or after the respective Stated Maturity or Maturities
expressed in such Debt Security (or, in the case of redemption or repayment, on
or after the related Redemption Date or Repayment Date, as the case may be).

 

SECTION 615.                                            Waiver
of Stay or Extension Laws.

 

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

 

42

 

ARTICLE SEVEN

THE TRUSTEE

 

SECTION 701.                                            Certain
Duties and Responsibilities.

 

(a)           With respect to Debt Securities of
any series, except during the continuance of an Event of Default with respect
to the Debt Securities of such series,

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

(d)           No provision of this Indenture shall
require the Trustee to expend or risk its own funds or otherwise incur any
financial liability in the performance of any of its duties hereunder, or in
the exercise of any of its rights or powers, if it shall have reasonable
grounds for 

 

43

 

believing
that repayment of such funds or adequate indemnity against such risk or
liability is not reasonably assured to it.

 

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

 

SECTION 702.                                            Notice
of Defaults.

 

Within
90 days after the occurrence of any default hereunder with respect to Debt
Securities of any series, the Trustee shall transmit by mail to all Holders of
Debt Securities of such series, as their names and addresses appear in the
Security Register, notice of such default hereunder known to the Trustee,
unless such default shall have been cured or waived; provided, however,
that, except in the case of a default in the payment of the principal of (or
premium, if any) or interest on any Debt Security of such series or in the
payment of any sinking fund installment with respect to Debt Securities of such
series, the Trustee shall be protected in withholding such notice if and so
long as the board of directors, the executive committee or a trust committee of
directors and/or Responsible Officers of the Trustee in good faith determine
that the withholding of such notice is in the interest of the Holders of Debt
Securities of such series; and provided, further, that in the
case of any default of the character specified in Section 601(4) with respect
to Debt Securities of such series no such notice to Holders shall be given
until at least 30 days after the occurrence thereof. For the purpose of this
Section, the term “default” means any event which is, or after notice or lapse
of time or both would become, an Event of Default with respect to Debt
Securities of such series.

 

SECTION 703.                                            Certain
Rights of Trustee.

 

Subject
to Sections 315(a) through (d) of the Trust Indenture Act:

 

(a)           the Trustee may exclusively rely and
shall be fully protected in acting or refraining from acting upon any
resolution, certificate, statement, instrument, opinion, report, notice,
request, direction, consent, order, bond, debenture, note 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 or the Guarantor mentioned herein shall be sufficiently evidenced by a
Company Request, Company Order, Guarantor Request or Guarantor Order and any
resolution of the Board of Directors shall be sufficiently evidenced by a Board
Resolution;

 

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

 

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

 

44

 

(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 of Debt Securities
pursuant to this Indenture, unless such Holders shall have offered to the
Trustee security or indemnity reasonably satisfactory to it against the costs,
expenses and liabilities which might be incurred by it in compliance with such
request or direction;

 

(f)            the Trustee shall not be bound to
make any investigation into the facts or matters stated in any resolution,
certificate, statement, instrument, opinion, report, notice, request,
direction, consent, order, bond, debenture, note, other evidence of
indebtedness or other paper or document, but the Trustee, in its discretion,
may make such further inquiry or investigation into such facts or matters as it
may see fit, and, if the Trustee shall determine to make such further inquiry
or investigation, it shall be entitled to examine the books, records and
premises of the Company or the Guarantor relevant to the facts or matters that
are the subject of its inquiry, personally or by agent or attorney at the sole
cost of the Company and shall incur no liability or additional liability of any
kind by reason of such inquiry or investigation;

 

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

 

(h)           the Trustee shall not be charged with
knowledge of any Event of Default with respect to the Debt Securities of any
series for which it is acting as Trustee unless either (1) a Responsible
Officer of the Trustee shall have actual knowledge of the Event of Default or
(2) written notice of such Event of Default shall have been given to the
Trustee by the Company or the Guarantor or any other obligor on such Debt
Securities or by any Holder of such Debt Securities;

 

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

 

(j)            the rights, privileges, protections,
immunities and benefits given to the Trustee, including, without limitation,
its right to be indemnified, are extended to, and shall be enforceable by, the
Trustee in each of its capacities hereunder, and to each agent, custodian and
other Person employed by it to act hereunder.

 

SECTION 704.                                            Not
Responsible for Recitals or Issuance of Debt Securities.

 

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

 

45

 

SECTION 705.                                            May
Hold Debt Securities.

 

The
Trustee, any Paying Agent, the Security Registrar or any other agent of the
Company or the Guarantor, in its individual or any other capacity, may become
the owner or pledgee of Debt Securities, and, subject to Sections 310(b) and
311 of the Trust Indenture Act, may otherwise deal with the Company and the
Guarantor with the same rights it would have if it were not Trustee, Paying
Agent, Security Registrar or such other agent.

 

SECTION 706.                                            Money
Held in Trust.

 

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

 

SECTION 707.                                            Compensation
and Reimbursement.

 

The
Company and the Guarantor agree

 

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

 

(2)           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 those incurred in connection with
any application to the Commission for a stay pursuant to Section 310(b) of the
Trust Indenture Act (whether or not granted) and the reasonable compensation
and the reasonable expenses and disbursements of its agents and counsel), except
any such expense, disbursement or advance as may be attributable to its
negligence or bad faith; and

 

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

 

As
security for the performance of the obligations of the Company and the
Guarantor under this Section the Trustee shall have a claim prior to the Debt
Securities upon all property and funds held or collected by the Trustee as
such, except funds held in trust for the payment of principal of (and premium,
if any) or interest on Debt Securities.

 

46

 

SECTION 708.                                            Corporate
Trustee Required; Eligibility.

 

There
shall at all times be a Trustee hereunder that is a corporation eligible to act
as such pursuant to the terms of the Trust Indenture Act and that has 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 the aforesaid supervising or examining authority, then for the purposes of
this Section, the combined capital and surplus of such corporation shall be
deemed to be its combined capital and surplus as set forth in its most recent
report of condition so published. If at any time the Trustee shall cease to be
eligible in accordance with the provisions of this Section, it shall resign
immediately in the manner and with the effect hereinafter specified in this
Article.

 

SECTION 709.                                            Resignation
and Removal; Appointment of Successor.

 

(a)           No resignation or removal of the
Trustee and no appointment of a successor Trustee pursuant to this Article
shall become effective until the acceptance of appointment by the successor
Trustee under Section 710.

 

(b)           The Trustee may resign at any time
with respect to the Debt Securities of one or more series by giving written
notice thereof to the Company and the Guarantor. If an instrument of acceptance
by a successor Trustee shall not have been delivered to the Trustee within 30
days after the giving of such notice of resignation (or notice of removal
pursuant to the following paragraph (c)), the resigning Trustee may, at the
cost of the Company, petition any court of competent jurisdiction for the
appointment of a successor Trustee with respect to the Debt Securities of such
series.

 

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

 

(d)           If at any time:

 

(1)           the
Trustee shall fail to comply with the obligations imposed upon it under Section
310(b) of the Trust Indenture Act with respect to the Debt Securities of any
series after written request therefor by the Company or the Guarantor or by any
Holder who has been a bona fide Holder of a Debt Security of such series for at
least six months, or

 

(2)           the
Trustee shall cease to be eligible under Section 708 and shall fail to resign
after written request therefor by the Company or by any such Holder, or

 

(3)           the
Trustee shall become incapable of acting or a decree or order for relief by a
court having jurisdiction in the premises shall have been entered in respect of
the Trustee in an involuntary case under the Federal bankruptcy laws, as now or
hereafter constituted, or any other applicable Federal or State bankruptcy,
insolvency or similar law; or a decree or order by a court having jurisdiction
in the premises shall have been entered for the appointment of a receiver,
custodian, liquidator, assignee, trustee, seques-trator (or other similar
official) of the Trustee or of its property or affairs, or any public 

 

47

 

officer
shall take charge or control of the Trustee or of its property or affairs for
the purpose of rehabilitation, conservation, winding up or liquidation; or

 

(4)           the
Trustee shall commence a voluntary case under the Federal bankruptcy laws, as
now or hereafter constituted, or any other applicable Federal or State
bankruptcy, insolvency or similar law or shall consent to the appointment of or
taking possession by a receiver, custodian, liquidator, assignee, trustee,
sequestrator (or other similar official) of the Trustee or its property or affairs,
or shall make an assignment for the benefit of creditors, or shall admit in
writing its inability to pay its debts generally as they become due, or shall
take corporate action in furtherance of any such action,

 

then, in any such case, (i) the Company or the
Guarantor, by a Board Resolution, may remove the Trustee with respect to all
Debt Securities or the Debt Securities of such series, or (ii) subject to
Section 315(e) of the Trust Indenture Act, any Holder who has been a bona fide
Holder of a Debt Security of any series 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 for the Debt Securities of such
series and the appointment of a successor Trustee.

 

(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 Debt Securities of one or
more series, the Company or the Guarantor, by or pursuant to a Board
Resolution, shall promptly appoint a successor Trustee or Trustees with respect
to the Debt Securities of that or those series (it being understood that any
such successor Trustee may be appointed with respect to the Debt 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 Debt Securities of any particular series) and shall
comply with the applicable requirements of Section 710. If, within one year
after such resignation, removal or incapability, or the occurrence of such
vacancy, a successor Trustee with respect to the Debt Securities of any series
shall be appointed by Act of the Holders of a majority in aggregate principal
amount of the Outstanding Debt Securities of such series delivered to the
Company, the Guarantor and the retiring Trustee, the successor Trustee so
appointed shall, forthwith upon its acceptance of such appointment, become the
successor Trustee with respect to the Debt Securities of such series and to
that extent supersede the successor Trustee appointed by the Company if no
successor Trustee with respect to the Debt Securities of any series shall have
been so appointed by the Company or the Guarantor or the Holders and accepted
appointment in the manner hereinafter provided, any Holder who has been a bona
fide Holder of a Debt 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 Debt Securities of such series.

 

(f)            The Company shall give notice of
each resignation and each removal of the Trustee with respect to the Debt
Securities of any series and each appointment of a successor Trustee with
respect to the Debt Securities of any series by mailing written notice of such
event by first-class mail, postage prepaid, to the Holders of Debt 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 Debt
Securities of such series and the address of its Corporate Trust Office.

 

48

 

SECTION 710.                                            Acceptance
of Appointment by Successor.

 

(a)           In the case of an appointment
hereunder of a successor Trustee with respect to all Debt Securities, every
such successor Trustee so appointed shall execute, acknowledge and deliver to
the Company, the Guarantor 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 request of the Company, the
Guarantor or the successor Trustee, such retiring Trustee shall, upon payment
of its charges, execute and deliver an instrument transferring to such
successor Trustee all the rights, powers and trusts of the retiring Trustee,
and shall duly assign, transfer and deliver to such successor Trustee all
property and money held by such retiring Trustee hereunder, subject to its
lien, if any, provided for in Section 707.

 

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

 

(c)           Upon request of any such successor
Trustee, the Company and the Guarantor 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, as the case may be.

 

49

 

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

 

SECTION 711.                                            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 of the corporate trust business of the Trustee, shall be the successor of
the Trustee hereunder, provided such corporation shall be otherwise qualified
and eligible under this Article, without the execution or filing of any paper
or any further act on the part of any of the parties hereto. In case any
Debt 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
Debt Securities so authenticated with the same effect as if such successor
Trustee had itself authenticated such Debt Securities. In case any Debt
Securities shall not have been authenticated by such predecessor Trustee, any
such successor Trustee, by merger, conversion or consolidation, may authenticate
and deliver such Debt Securities, in either its own name or that of its
predecessor Trustee, with the full force and effect which this Indenture
provides for the certificate of authentication of the Trustee.

 

50

 

ARTICLE EIGHT

HOLDERS’ LISTS AND REPORTS BY TRUSTEE, COMPANY AND GUARANTOR

 

SECTION 801.                                            Company
and Guarantor to Furnish Trustee Names and Addresses of Holders.

 

In accordance with Section 312(a) of the
Trust Indenture Act, the Company and the Guarantor will furnish or cause to be
furnished to the Trustee with respect to Debt Securities of each series for
which it acts as Trustee:

 

(a)                                  semiannually,
not more than 15 days after the Regular Record Date in respect of the Debt
Securities of such series or on June 30 and December 31 of each
year with respect to each series of Debt Securities for which there are no
Regular Record Dates, a list, in such form as the Trustee may reasonably
require, of the names and addresses of the Holders as of such Regular Record
Date or June 15 or December 15, 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 or the Guarantor 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 if
and so long as the Trustee shall be the Security Registrar for Debt Securities
of a series, no such list need be furnished with respect to such series of
Debt Securities.

 

SECTION 802.                                            Preservation
of Information; Communications to Holders.

 

(a)                                  The
Trustee shall comply with the obligations imposed upon it pursuant to Section 312
of the Trust Indenture Act.

 

(b)                                 Every
Holder of Debt Securities, by receiving and holding the same, agrees with the
Company, the Guarantor and the Trustee that neither the Company, the Guarantor
nor the Trustee 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 312 of the Trust Indenture Act, 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 312(b) of
the Trust Indenture Act.

 

SECTION 803.                                            Reports
by Trustee.

 

(a)                                  Within
120 days after December 31 of each year commencing with the first December 31
after the first issuance of Securities pursuant to this Indenture the Trustee
shall transmit to the Holders of Securities, in the manner and to the extent
provided in Section 313(c) of the Trust Indenture Act, a brief report
based as of such December 31, if required by Section 313(a) of
the Trust Indenture Act. The Trustee also shall comply with Section 313(b) of
the Trust Indenture Act and shall transmit to Holders such other reports, if
any, as may be required pursuant to the Trust Indenture Act.

 

51

 

(b)                                 Reports
pursuant to this Section shall be transmitted in the manner and to the
Persons required by Sections 313(c) and 313(d) of the Trust Indenture
Act.

 

(c)                                  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 Debt Securities of
such series are listed, with the Commission and also with the Company and
the Guarantor. The Company or the Guarantor will notify the Trustee when any series of
Debt Securities are listed on any stock exchange.

 

SECTION 804.                                            Reports
by Company and Guarantor.

 

The Company and the Guarantor, pursuant to Section 314(a) of
the Trust Indenture Act, will:

 

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

 

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

 

(3)                                  transmit
by mail to all Holders, as their names and addressees appear in the Security
Register, within 30 days after the filing thereof with the Trustee, in the
manner and to the extent provided in Section 313(c) of the Trust
Indenture Act, such summaries of any information, documents and reports
required to be filed by the Company or the Guarantor pursuant to paragraphs (1) and
(2) of this Section as may be required by rules and
regulations prescribed from time to time by the Commission.

 

52

 

ARTICLE NINE

CONSOLIDATION, MERGER, CONVEYANCE OR TRANSFER

 

SECTION 901.                                            Company
May Consolidate, etc., Only on Certain Terms.

 

The Company shall not consolidate with or merge into
any other corporation or convey or transfer its properties and assets
substantially as an entirety to any Person, unless:

 

(1)                                  the
corporation formed by such consolidation or into which the Company is merged or
the Person which acquires by conveyance or transfer the properties and assets
of the Company substantially as an entirety shall be a corporation organized
and existing under the laws of the United States of America, any political
subdivision thereof or any State thereof and shall expressly assume, by an
indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory
to the Trustee, the due and punctual payment of the principal of (and premium,
if any) and interest on all the Debt Securities and the performance of every
covenant of this Indenture on the part of the Company to be performed or
observed;

 

(2)                                  immediately
after giving effect to such transaction, no Event of Default, and no event
which, after notice or lapse of time, or both, would become an Event of
Default, shall have happened and be continuing;

 

(3)                                  the
Company has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel each stating that such consolidation, merger, conveyance or transfer
and such supplemental indenture comply with this Article and that all
conditions precedent herein provided for relating to such transaction have been
complied with; and

 

(4)                                  the
Guarantor has delivered to the Trustee an Officer’s Certificate and an Opinion
of Counsel, each stating that the Guarantor’s obligations hereunder shall
remain in full force and effect thereafter.

 

SECTION 902.                                            Successor
Corporation Substituted.

 

Upon any consolidation with or merger into any other
corporation, or any conveyance or transfer of the properties and assets of the
Company substantially as an entirety in accordance with Section 901, the
successor corporation formed by such consolidation or into which the Company is
merged or the successor Person to which such conveyance 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 had been named as the Company herein, and thereafter the predecessor
corporation shall be relieved of all obligations and covenants under this
Indenture and the Debt Securities.

 

SECTION 903.                                            Guarantor
May Consolidate, etc., Only on Certain Terms.

 

The Guarantor shall not consolidate with or merge into
any other corporation or convey or transfer its properties and assets
substantially as an entirety to any Person, unless:

 

53

 

(1)                                  the
corporation formed by such consolidation or into which the Guarantor is merged
or the Person which acquires by conveyance or transfer the properties and
assets of the Guarantor substantially as an entirety shall be a corporation
organized and existing under the laws of the United States of America, any political
subdivision thereof or any State thereof and shall expressly assume, by an
indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory
to the Trustee, the Guarantees endorsed on the Debt Securities and the
performance of every covenant of this Indenture on the part of the
Guarantor to be performed or observed;

 

(2)                                  immediately
after giving effect to such transaction, no Event of Default, and no event
which, after notice or lapse of time, or both, would become an Event of Default,
shall have happened and be continuing;

 

(3)                                  the
Guarantor has delivered to the Trustee an Officers’ Certificate and an Opinion
of Counsel each stating that such consolidation, merger, conveyance or transfer
and such supplemental indenture comply with this Article and that all
conditions precedent herein provided for relating to such transaction have been
complied with.

 

SECTION 904.                                            Successor
Corporation Substituted.

 

Upon any consolidation with or merger into any other
corporation, or any conveyance or transfer of the properties and assets of the
Guarantor substantially as an entirety in accordance with Section 903, the
successor corporation formed by such consolidation or into which the Guarantor
is merged or the successor Person to which such conveyance or transfer is made
shall succeed to, and be substituted for, and may exercise every right and
power of, the Guarantor under this Indenture with the same effect as if such
successor had been named as the Guarantor herein, and thereafter the predecessor
corporation shall be relieved of all obligations and covenants under this
Indenture and the Guarantees.

 

SECTION 905.                                            Assumption
by Guarantor.

 

The Guarantor, or a Subsidiary thereof, may directly
assume, by an indenture supplemental hereto, executed and delivered to the
Trustee, in form satisfactory to the Trustee, the due and punctual payment
of the principal of (and premium, if any) and interest on all the Debt
Securities and the performance of every covenant of this Indenture on the part of
the Company to be performed or observed. Upon any such assumption, the
Guarantor or such Subsidiary 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 the Guarantor or such Subsidiary had been named as the Company herein and
the Company shall be released from its liability as obligor on the Debt
Securities. No such assumption shall be permitted unless the Guarantor has
delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel,
each stating that such assumption and supplemental indenture comply with this
Article, and that all conditions precedent herein provided for relating to such
transaction have been complied with and that, in the event of assumption by a
Subsidiary, the Guarantees remain in full force and effect.

 

54

 

ARTICLE TEN

SUPPLEMENTAL INDENTURES

 

SECTION 1001.                                      Supplemental
Indentures without Consent of Holders.

 

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

 

(1)                                  to
evidence the succession of another corporation to the Company or the Guarantor
and the assumption by such successor of the obligations and covenants of the
Company or the Guarantor herein and in the Debt Securities or the related
Guarantees, as the case may be; or

 

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

 

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

 

(4)                                  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 Debt Securities in bearer
form, registrable or not registrable as to principal, and with or without
interest coupons; or

 

(5)                                  to
change or eliminate any of the provisions of this Indenture, provided
that any such change or elimination shall either (i) become effective only
when there is no Debt Security Outstanding of any series created prior to
the execution of such supplemental indenture which is entitled to the benefit
of such provision or (ii) shall neither (A) apply to any Debt
Security of any series created prior to the execution of such supplemental
indenture and entitled to the benefit of such provision nor (B) modify the
rights of the Holder of any such Debt Security with respect to such provision;
or

 

(6)                                  to
establish the form or terms of Debt Securities of any series as
permitted by Sections 202 and 301; or

 

(7)                                  to
evidence and provide for the acceptance of appointment hereunder by a successor
Trustee with respect to the Debt Securities of one or more series and to
add to or change any of the provisions of this Indenture as shall be necessary
to provide for or facilitate the administration of the trusts hereunder by more
than one Trustee, pursuant to the requirements of Section 710; or

 

(8)                                  to
secure the Debt Securities; or

 

55

 

(9)                                  to
cure any ambiguity, to correct or supplement any provision herein which may be
defective or inconsistent with any other provision herein, or to make any other
provisions with respect to matters or questions arising under this Indenture
which shall not be inconsistent with any provision of this Indenture, provided
such other provisions shall not adversely affect the interests of the Holders
of Debt Securities of any series in any material respect; or

 

(10)                            to
modify, eliminate or add to the provisions of this Indenture to such extent as
shall be necessary to effect the qualification of this Indenture under the
Trust Indenture Act or under any similar federal statute hereafter enacted and
to add to this Indenture such other provisions as may be expressly
required under the Trust Indenture Act; or

 

(11)                            to
effect the assumption by the Guarantor or a Subsidiary thereof pursuant to Section 905.

 

SECTION 1002.                                      Supplemental
Indentures with Consent of Holders.

 

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

 

(1)                                  change
the Stated Principal Maturity (except as permitted pursuant to Section 312
hereof) of the principal of, or change the Stated Maturity of any installment
of interest on, any Debt Security, or reduce the principal amount thereof or,
except as permitted pursuant to Section 307(b) hereof, the interest
thereon or any premium payable upon redemption or repayment 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 602, or adversely affect any right of repayment at the
option of a Holder of any Debt Security, or reduce the amount of, or postpone
the date fixed for, any payment under any sinking fund or analogous provisions
of any Debt Security, or change any Place of Payment, or the coin or currency
or currency unit in which any Debt Security or the interest thereon is payable,
or change or eliminate the rights of a Holder under Section 311, 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 or repayment, on or
after the Redemption Date or the Repayment Date, as the case may be), or

 

(2)                                  reduce
the percentage in aggregate principal amount of the Outstanding Debt 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 

 

56

 

compliance with certain provisions of this Indenture
or certain defaults hereunder and their consequences) provided for in this
Indenture, or

 

(3)                                  modify
any of the provisions of this Section or Section 613, 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 Debt Security affected thereby, or

 

(4)                                  modify
or effect in any manner adverse to the Holders the terms and conditions of the
obligations of the Guarantor in respect of the due and punctual payments of
principal of, or premium, if any, or interest on, or sinking fund requirements,
if any, with respect to, the Debt Securities.

 

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

 

A supplemental indenture which changes or eliminates
any covenant or other provision of this Indenture which has expressly been
included solely for the benefit of one or more particular series of Debt
Securities, or which modifies the rights of the Holders of Debt 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 Debt
Securities of any other series.

 

SECTION 1003.                                      Execution
of Supplemental Indentures.

 

In executing, or accepting the additional trusts
created by, any supplemental indenture permitted by this Article or the
modifications thereby of the trusts created by this Indenture, the Trustee
shall be entitled to receive, and (subject to Section 315 of the Trust
Indenture Act) shall be fully protected in relying upon, an Opinion of Counsel
stating that the execution of such supplemental indenture is authorized or
permitted by this Indenture. The Trustee may, but shall not be obligated to,
enter into any such supplemental indenture which affects the Trustee’s own
rights, duties or immunities under this Indenture or otherwise.

 

SECTION 1004.                                      Effect
of Supplemental Indentures.

 

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

 

SECTION 1005.                                      Notice
to Holders.

 

Promptly after the execution by the Company and the
Trustee of any supplemental indenture under Section 1002 of this Article,
the Company shall transmit by mail a notice, setting forth in general terms the
substance of such supplemental indenture, to all Holders of Debt Securities, as
the names and addresses of such Holders appear on the Security Register for
each series of Debt Securities.

 

57

 

SECTION 1006.                                      Conformity
with Trust Indenture Act.

 

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

 

SECTION 1007.                                      Reference
in Debt Securities to Supplemental Indentures.

 

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

 

58

 

ARTICLE ELEVEN

COVENANTS

 

SECTION 1101.                                      Payment
of Principal, Premium and Interest.

 

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

 

SECTION 1102.                                      Maintenance
of Office or Agency.

 

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

 

The Company or the Guarantor may also from time
to time designate one or more other offices or agencies (in or outside of such
Place of Payment) where the Debt Securities of one or more series may be
presented or surrendered for any or all of such purposes, and may from
time to time rescind such designations; provided, however, that
no such designation or rescission shall in any manner relieve the Company or
the Guarantor of their obligation to maintain an office or agency in each Place
of Payment for any series of Debt Securities, for such purposes. The Company
or the Guarantor will give prompt written notice to the Trustee of any such
designation and 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 hereto with respect to a series of
Debt Securities, the Company and the Guarantor hereby initially designate as
the Place of Payment for each series of Debt Securities, the Borough of
Manhattan, The City and State of New York, and initially appoint the Trustee at
its Corporate Trust Office as the Company’s office or agency for each such
purpose in such city.

 

SECTION 1103.                                      Money
for Debt 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 Debt Securities, it will, on or before
each due date of the principal of (and premium, if any) or interest on any of
the Debt Securities of such 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 herein provided, and will promptly
notify the Trustee of its action or failure so to act.

 

59

 

Whenever the Company shall have one or more Paying
Agents with respect to any series of Debt Securities, it will, prior to or
on each due date of the principal (and premium, if any) or interest on any Debt
Securities of such 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 so to act.

 

The Company will cause each Paying Agent with respect
to any series of Debt Securities other than the Trustee to execute and
deliver to the Trustee an instrument in which such Paying Agent shall agree
with the Trustee, subject to the provisions of this Section, that such Paying
Agent will:

 

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

 

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

 

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

 

The Company or the Guarantor 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 or Guarantor 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.

 

Unless otherwise specified as contemplated by Section 301,
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 Debt 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 deposited by
the Guarantor, paid to the Guarantor or Guarantor Request), or (if then held by
the Company) shall be discharged from such trust; and the Holder of such Debt
Security shall thereafter, as an unsecured general creditor, look only to the
Company and the Guarantor for payment thereof, and all liability of the Trustee
or such Paying Agent with respect to such trust money, and all liability of the
Company as trustee thereof, shall thereupon cease; provided, however,
that the Trustee or such Paying Agent, before being required to make any such
repayment, may at the expense of the Company cause to be published once,
in a newspaper published in the English 

 

60

 

language, customarily published on each Business Day
and of general circulation in the Borough of Manhattan, The City and State of
New York, and each Place of Payment with respect to Debt Securities of the series with
respect to which such moneys are so held or cause to be mailed to each such
Holder, or both, notice that such money remains unclaimed and that, after a
date specified therein, which shall not be less than 30 days from the date of
such publication or mailing, any unclaimed balance of such money then remaining
will be repaid to the Company or the Guarantor, as the case may be.

 

SECTION 1104.                                      Investment
Company Act.

 

The Company will not take any action if as a result
thereof it would be required to register as an investment company under the
Investment Company Act of 1940, as amended.

 

SECTION 1105.                                      Officers’
Certificate as to Default.

 

The Company and the Guarantor will each deliver to the
Trustee, on or before a date not more than four months after the end of their
fiscal year ending after the date hereof, an Officers’ Certificate from their
principal executive officer, principal financial officer or principal
accounting officer, stating whether or not to the best knowledge of the signers
thereof the Company or the Guarantor, as the case may be, is in default in
the performance and observance of any of the terms, provisions and conditions
of this Indenture (without regard to any period of grace or requirement of
notice provided hereunder), and, if the Company or the Guarantor, as the case may be,
shall be in default, specifying all such defaults and the nature thereof of
which they may have knowledge.

 

The Company and the Guarantor will deliver written
notice to the Trustee five days after any officer thereof has knowledge of the
occurrence of any event which with the giving of notice or the lapse of time or
both would become an Event of Default under Subsection (5) of Section 601.

 

61

 

ARTICLE TWELVE

REDEMPTION OF DEBT SECURITIES

 

SECTION 1201.                                      Applicability
of Article.

 

Debt Securities of any series which are
redeemable before their Stated Maturity shall be redeemable in accordance with
their terms and (except as otherwise specified as contemplated by Section 301
for Debt Securities of any series) in accordance with this Article.

 

SECTION 1202.                                      Election
to Redeem, Notice to Trustee.

 

The election of the Company to redeem any Debt
Securities shall be evidenced by a Board Resolution. In case of any redemption
at the election of the Company of less than all of the Debt Securities of any
series, the Company shall, at least 60 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 Debt
Securities of such series to be redeemed. In the case of any redemption of
Debt Securities prior to the expiration of any restriction on such redemption
provided in the terms of such Debt Securities or elsewhere in this Indenture,
the Company shall furnish the Trustee with an Officers’ Certificate evidencing
compliance with such restriction.

 

SECTION 1203.                                      Selection
by Trustee of Debt Securities to Be Redeemed.

 

If less than all the Debt Securities of any series are
to be redeemed, the particular Debt Securities to be redeemed shall be selected
not more than 60 days prior to the Redemption Date by the Trustee, from the
Outstanding Debt Securities of such series not previously called for
redemption, by such method as the Trustee shall deem fair and appropriate and
which may provide for the selection for redemption of portions (equal to
the minimum authorized denomination for Debt Securities of such series or
any integral multiple thereof) of the principal amount of Debt Securities of
such series of a denomination larger than the minimum authorized
denomination for Debt Securities of such series.

 

The Trustee shall promptly notify the Company in
writing of the Debt Securities selected for redemption and, in the case of any
Debt 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 Debt Securities
shall relate, in the case of any Debt Security redeemed or to be redeemed only
in part, to the portion of the principal amount of such Debt Security which has
been or is to be redeemed.

 

SECTION 1204.                                      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 Debt Securities to be redeemed, at his
address appearing in the Security Register.

 

62

 

All notices of redemption shall state:

 

(1)                                  the
Redemption Date,

 

(2)                                  the
Redemption Price,

 

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

 

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

 

(5)                                  the
Place or Places of Payment where such Debt Securities are to be surrendered for
payment of the Redemption Price,

 

(6)                                  that
the redemption is in connection with a sinking fund, if such is the case, and

 

(7)                                  if
applicable, the CUSIP number for such Debt Security.

 

Notice of redemption of Debt 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 1205.                                      Deposit
of Redemption Price.

 

On or 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 1103)
an amount of money in the currency in which the Debt Securities of such series are
payable (except as otherwise specified pursuant to Section 301 for the
Debt Securities of such series and except, if applicable, as provided in Section 311)
sufficient to pay the Redemption Price of, and (unless otherwise specified
pursuant to Section 301 for the Debt Securities of such series and
the Redemption Date is an Interest Payment Date) accrued interest on, all the
Debt Securities or portion thereof, as the case may be, which are to be
redeemed on that date.

 

SECTION 1206.                                      Debt
Securities Payable on Redemption Date.

 

Notice of redemption having been given as aforesaid,
the Debt Securities so to be redeemed shall become due and payable and shall be
paid by the Company on the Redemption Date and at the Redemption Price therein
specified and on and after such Redemption Date (unless the Company shall
default in the payment of the Redemption Price and any accrued interest in
respect of such Debt Securities on such Redemption Date) such Debt Securities
shall, if the same were interest bearing, cease to bear interest. Upon
surrender of any such Debt Security for redemption in accordance with said
notice, the Redemption Price of such Debt Security so to be repaid shall be
paid by the Company, together with accrued interest, if any, to 

 

63

 

the Redemption Date; provided,
however, that installments of interest, if any, on an Interest Payment
Date that is prior to the Redemption Date (or, if specified pursuant to Section 301,
that is on the Redemption Date) shall be payable (but without interest thereon,
unless the Company shall default in payment thereof) to the Holder of such Debt
Security, or one or more Predecessor Securities, registered as such at 5:00 P.M.,
New York City time, on the relevant Record Date according to its or their terms
and the provisions of Section 307.

 

If any Debt Security called for redemption shall not
be so paid upon surrender thereof, the Redemption Price shall, until paid, bear
interest from the Redemption Date at the rate of interest (or the manner of
calculating the rate of interest) applicable to such Debt Security on the day
prior to the Redemption Date or, in the case of an Original Issue Discount Security,
at the yield to maturity of such Original Issue Discount Security.

 

SECTION 1207.                                      Debt
Securities Redeemed in Part.

 

Any Debt Security which is to be redeemed only in part shall
be surrendered at a Place of Payment therefor (with, if the Company, the
Security Registrar or the Trustee so requires, due endorsement by, or a written
instrument of transfer in form satisfactory to the Company, the Security
Registrar 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 Debt Security without
service charge, a new Debt Security or Debt Securities (having a Guarantee duly
endorsed thereon) 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 Debt Security so surrendered. If a Debt Security in global form is so
surrendered, the Company shall execute, and the Trustee shall authenticate and
deliver to the depository for such global Debt Security, without service
charge, a new Debt Security in global form in a denomination equal to and
in exchange for the unredeemed portion of the principal of the global Debt
Security so surrendered.

 

64

 

ARTICLE THIRTEEN

SINKING FUNDS

 

SECTION 1301.                                      Applicability
of Article.

 

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

 

The minimum amount of any sinking fund payment
provided for by the terms of Debt Securities of any series is herein
referred to as a “mandatory sinking fund payment,” and any payment in excess of
such minimum amount provided for by the terms of Debt Securities of any series is
herein referred to as an “optional sinking fund payment.”  If provided for by the terms of Debt
Securities of any series, the amount of any cash sinking fund payment may be
subject to reduction as provided in Section 1302. Each sinking fund
payment shall be applied to the redemption of Debt Securities of any series as
provided for by the terms of Debt Securities of such series.

 

SECTION 1302.                                      Satisfaction
of Sinking Fund Payments with Debt Securities.

 

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

 

SECTION 1303.                                      Redemption
of Debt Securities for Sinking Fund.

 

Not less than 60 days prior to each sinking fund
payment date for any series of Debt Securities (unless a shorter period
shall be satisfactory to the Trustee), the Company will deliver to the Trustee
an Officers’ Certificate specifying the amount of the next ensuing sinking fund
payment for that series pursuant to the terms of that series, the portion
thereof, if any, which is to be satisfied by payment of cash, the portion
thereof, if any, which is to be satisfied by crediting Debt Securities of than series pursuant
to Section 1302 and, prior to or concurrently with the delivery of such
Officers’ Certificate, will also deliver to the Trustee any Debt Securities to
be so credited and not theretofore delivered to the Trustee. Not less than 45
days (unless a shorter period shall be satisfactory to the Trustee) before each
such sinking fund payment date the Trustee shall select the Debt Securities to
be redeemed upon such sinking fund payment date in the manner specified in Section 1203
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 1204.

 

65

 

Such notice having been duly given, the redemption of
such Debt Securities shall be made upon the terms and in the manner stated in
Sections 1205, 1206 and 1207.

 

66

 

ARTICLE FOURTEEN

DEFEASANCE

 

SECTION 1401.                                      Applicability
of Article.

 

If, pursuant to Section 301, provision is made
for the defeasance of Debt Securities of a series, then the provisions of this Article shall
be applicable except as otherwise specified as contemplated by Section 301
for Debt Securities of such series.

 

SECTION 1402.                                      Defeasance
Upon Deposit of Moneys or U.S. Government Obligations.

 

At the Company’s option, either (a) the Company
shall be deemed to have been Discharged (as defined below) from its obligations
with respect to Debt Securities of any series on the 91st day after the
applicable conditions set forth below have been satisfied or (b) the
Company shall cease to be under any obligation to comply with any term,
provision or condition set forth in Section 901, with respect to Debt
Securities of any series at any time after the applicable conditions set
forth below have been satisfied:

 

(1)                                  the
Company shall have deposited or caused to be deposited irrevocably with the Trustee
as trust funds in trust, specifically pledged as security for, and dedicated
solely to, the benefit of the Holders of the Debt Securities of such series (i) money
in the Required Currency in an amount, or (ii) in the case of Debt
Securities denominated in Dollars, U.S. Government Obligations (as defined
below), which through the payment of interest and principal in respect thereof
in accordance with their terms will provide (without any reinvestment of such
interest or principal), not later than one day before the due date of any
payment, money in an amount, or (iii) a combination of (i) and (ii) sufficient,
in the opinion (with respect to (ii) and (iii) of a nationally
recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee at or prior to the time of such
deposit, to pay and discharge each installment-of principal (including any
mandatory sinking fund Payments) of, and premium, if any, and interest on, the
Outstanding Debt Securities of such series on the dates such installments
of interest, premium or principal are due;

 

(2)                                  the
Company shall have delivered to the Trustee an Officers’ Certificate certifying
as to whether the Debt Securities of such series are then listed on the
New York Stock Exchange;

 

(3)                                  if
the Debt Securities of such series are then listed on the New York Stock
Exchange, the Company shall have delivered to the Trustee an Opinion of Counsel
to the effect that the Company’s exercise of its option under this Section would
not cause such Debt Securities to be delisted;

 

(4)                                  no
Event of Default or event (including such deposit) which, with notice or lapse
of time, or both, would become an Event of Default with respect to the Debt
Securities of such series shall have occurred and be continuing on the
date of such 

 

67

 

deposit as evidenced to the Trustee in an Officers’
Certificate delivered to the Trustee concurrently with such deposit;

 

(5)                                  the
Company shall have delivered to the Trustee an Opinion of Counsel to the effect
that (and containing no assumption or qualification) (i) Holders of the
Debt Securities of such series will not recognize income, gain or loss for
Federal income tax purposes as a result of the Company’s exercise of its option
under this Section and will be subject to Federal income tax on the same
amount and in the same manner and at the same time as would have been the case
if such option had not been exercised, and, in the case of the Debt Securities
of such series being Discharged, accompanied by a ruling to that effect
received from or published by the Internal Revenue Service (it being understood
that (A) such Opinion shall also state that such ruling is consistent with
the conclusions reached in such Opinion and (B) the Trustee shall be under
no obligation to investigate the basis or correctness of such ruling) and (ii) all
conditions precedent to the Discharge pursuant to this Section have been
complied with;

 

(6)                                  the
Company shall have delivered to the Trustee an Opinion of Counsel to the effect
that the Company’s exercise of its option under this provision will not cause
any violation of the Investment Company Act of 1940, as amended, on the part of
the Company, the trust, the trust funds representing the Company’s deposit or
the Trustee; and

 

(b)                                 the
Company shall have paid or duly provided for payment of all amounts then due to
the Trustee pursuant to Section 707.

 

“Discharged” means that the Company shall be deemed to
have paid and discharged the entire indebtedness represented by, and
obligations under, the Debt Securities of such series and to have
satisfied all the obligations under this Indenture relating to the Debt
Securities of such series (and the Trustee, at the expense of the Company,
shall execute proper instruments acknowledging the same), except (A) the
rights of Holders of Debt Securities of such series to receive, from the
trust fund described in clause (1) above, payment of the principal of, and
premium, if any, and the interest on such Debt Securities when such payments
are due, (B) the Company’s obligations with respect to the Debt Securities
of such series under Sections 305, 306, 1102 and 1403 and (C) the
rights, powers, trusts, duties and immunities of the Trustee hereunder,
including without limitation, the provisions of Section 707.

 

“U.S. Government Obligations” means securities that
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 payment of which is unconditionally
guaranteed as a full faith and credit obligation by the United States of
America, which, in either case under clauses (i) or (ii) are not
callable or redeemable at the option of the issuer thereof.

 

68

 

SECTION 1403.                                      Deposited
Moneys and U.S. Government Obligations To Be Held in Trust.

 

All moneys and U.S. Government Obligations deposited
with the Trustee pursuant to Section 1402 in respect of Debt Securities of
a series shall be held in trust and applied by it, in accordance with the
provisions of such Debt Securities and this Indenture, to the payment, either
directly or through any Paying Agent (including the Company acting as it own
Paying Agent) as the Trustee may determine, to the Holders of such Debt
Securities, of all sums due and to become due thereon for principal, premium,
if any, and interest, if any, but such money need not be segregated from other
funds except to the extent required by law.

 

SECTION 1404.                                      Repayment
to Company.

 

The Trustee and any Paying Agent shall promptly pay or
return to the Company upon Company Request any money and U.S. Government Obligations
held by them at any time that are not required for the payment of the principal
of, and premium, if any, and interest on, the Debt Securities of any series for
which money or U.S. Government Obligations have been deposited pursuant to Section 1402.

 

The provisions of the last paragraph of Section 1103
shall apply to any money held by the Trustee or any Paying Agent under this Article that
remains unclaimed for two years after the Maturity of any Series of Debt
Securities for which money or U.S. Government Obligations have been deposited
pursuant to Section 1402.

 

69

 

ARTICLE FIFTEEN

 

REPAYMENT AT THE OPTION
OF HOLDERS

 

SECTION 1501.                                      Applicability
of Article.

 

Repayment of Debt Securities of any series before
their Stated Maturity at the option of Holders thereof shall be made in
accordance with the terms of such Debt Securities and (except as otherwise
specified by the terms of such series established pursuant to Section 301)
in accordance with this Article Fifteen.

 

SECTION 1502.                                      Repayment
of Debt Securities.

 

Debt Securities of any series subject to
repayment in whole or in part at the option of the Holders thereof will,
unless otherwise provided in the terms of such Debt Securities, be repaid at
the Repayment Price thereof, together with interest, if any, thereon accrued to
the Repayment Date specified in or pursuant to the terms of such Debt
Securities. On or prior to the Repayment 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 1103) an
amount of money in the currency in which the Debt Securities of such series are
payable (except as otherwise specified pursuant to Section 301 for the
Debt Securities of such series and except, if applicable, as provided in Section 311)
sufficient to pay the Repayment Price of and (unless otherwise specified
pursuant to Section 301 for the Debt Securities of such series and
the Repayment Date is an Interest Payment Date) accrued interest on, all the
Debt Securities or portions thereof, as the case may be, to be repaid on
such date.

 

SECTION 1503.                                      Exercise
of Option.

 

Debt Securities of any series subject to
repayment at the option of the Holders thereof will contain an “Option to Elect
Repayment” form. In order to be repaid at the option of the Holder, any Debt
Security so providing for such repayment, together with the “Option to Elect
Repayment” form duly completed by the Holder (or by the Holder’s attorney
duly authorized in writing), must be received by or on behalf of the Company at
the Place of Payment therefor specified in the terms of such Debt Security (or
at such other place or places of which the Company shall from time to time
notify the Holders of such Debt Securities) not more than 60 nor less than 30
calendar days prior to the Repayment Date. If less than the entire principal
amount of such Debt Security is to be repaid in accordance with the terms of
such Debt Security, the portion of such Debt Security to be repaid, in
increments of the minimum denomination for Debt Securities of such series, and
the denomination or denominations of the Debt Security or Debt Securities to be
issued to the Holder for the portion of such Debt Security surrendered that is
not to be repaid, must be specified. Any Debt Security providing for repayment
at the option of the Holder thereof may not be repaid in part if,
following such repayment, the unpaid principal amount of such Debt Security
would be less than the minimum denomination of Debt Securities of the series of
which such Debt Security to be repaid is a part. Except as may be
otherwise provided in any Debt Security providing for repayment at the option
of the Holder thereof, exercise of the repayment option by the Holder shall be
irrevocable unless waived by the Company.

 

70

 

SECTION 1504.                                      When
Debt Securities Surrendered for Repayment Become Due and Payable.

 

If Debt Securities of any series providing for
repayment at the option of the Holders thereof shall have been surrendered as
provided in this Article Fifteen and as provided by or pursuant to the
terms of such Debt Securities, such Debt Securities or the portions thereof, as
the case may be, to be repaid shall become due and payable and shall be
paid by the Company on the Repayment Date therein specified, and on and after
such Repayment Date (unless the Company shall default in the payment of the
Repayment Price and any accrued interest in respect of such Debt Securities on
such Repayment Date) such Debt Securities shall, if the same were interest
bearing, cease to bear interest. Upon surrender of any such Debt Security for
repayment in accordance with such provisions, the Repayment Price of such Debt
Security so to be repaid shall be paid by the Company, together with accrued
interest, if any, to the Repayment Date; provided, however, that
installments of interest, if any, on an Interest Payment Date that is prior to
the Repayment Date (or, if specified pursuant to Section 301, that is on
the Repayment Date) shall be payable (but without interest thereon, unless the
Company shall default in the payment thereof) to the Holder of such Debt
Security, or one or more Predecessor Securities, registered as such at 5:00 P.M.,
New York City time, on the relevant Regular Record Date according to its or
their terms and the provisions of Section 307.

 

If any Debt Security surrendered for repayment shall
not be so repaid upon surrender thereof, the Repayment Price shall, until paid,
bear interest from the Repayment Date at the rate of interest (or manner of
calculating the rate of interest) applicable to such Debt Security on the day
prior to the Repayment Date or, in the case of an Original Issue Discount
Security, at the yield to maturity of such Original Issue Discount Security.

 

SECTION 1505.                                      Debt
Securities Repaid in Part.

 

Upon surrender of any Debt Security which is to be
repaid in part only, the Company shall execute and the Trustee shall
authenticate and deliver to the Holder of such Debt Security, without service
charge and at the expense of the Company, a new Debt Security or Debt
Securities of the same series, of any authorized denomination specified by the
Holder, in an aggregate principal amount equal to and in exchange for the
portion of the principal of such Debt Security so surrendered which is not to
be repaid.

 

*  *  * 
*  *

 

71

 

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

 

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

 

	
   

  	
  COUNTRYWIDE
  FINANCIAL

  
	
   

  	
  CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Thomas Keith
  McLaughlin

  	
   

  
	
   

  	
   

  	
  Thomas Keith
  McLaughlin

  
	
   

  	
   

  	
  Executive
  Managing Director and

  
	
   

  	
   

  	
  Chief Financial
  Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  COUNTRYWIDE HOME
  LOANS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Thomas Keith
  McLaughlin

  	
   

  
	
   

  	
   

  	
  Thomas Keith
  McLaughlin

  
	
   

  	
   

  	
  Executive
  Managing Director and

  
	
   

  	
   

  	
  Chief Financial
  Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  THE BANK OF NEW
  YORK, as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Joseph A.
  Lloret

  	
   

  
	
   

  	
   

  	
  Joseph A. Lloret

  
	
   

  	
   

  	
  Assistant
  Treasurer

  
						

 

72

 

	
  State of
  California

  	
  )

  	
   

  	
   

  
	
  County of Los
  Angeles

  	
  )

  	
  SS.:

  	
   

  	
   

  
					

 

On the 4th day of February, 2005, before me
personally came Thomas Keith McLaughlin, to me known, who, being by me duly
sworn, did depose and say that he is Executive Managing Director and Chief
Financial Officer of Countrywide Financial Corporation, one of the corporations
described in and which executed the foregoing instrument; that he knows the
seal of said corporation; that the seal affixed to said instrument is such
corporate seal; that it was so affixed by authority of the Board of Directors
of said corporation, and that he signed his name thereto by like authority.

 

	
   

  	
  /s/ Carla Jo
  Mason

  
	
   

  	
  Notary Public

  
	
   

  	
   

  
	
  Seal

  	
   

  

 

73

 

	
  State of
  California

  	
  )

  	
   

  	
   

  
	
  County of Los
  Angeles

  	
  )

  	
  SS.:

  	
   

  	
   

  
					

 

On the 4th day of February, 2005, before me
personally came Thomas Keith McLaughlin, to me known, who, being by me duly
sworn, did depose and say that he is Executive Managing Director and Chief
Financial Officer of Countrywide Home Loans, Inc., one of the corporations
described in and which executed the foregoing instrument; that he knows the
seal of said corporation; that the seal affixed to said instrument is such
corporate seal; that it was so affixed by authority of the Board of Directors
of said corporation, and that he signed his name thereto by like authority.

 

	
   

  	
  /s/ Carla Jo
  Mason

  
	
   

  	
  Notary Public

  
	
   

  	
   

  
	
  Seal

  	
   

  

 

74

 

	
  State of New
  York

  	
  )

  	
   

  	
   

  
	
  County of New
  York

  	
  )

  	
  SS.:

  	
   

  	
   

  
					

 

On the 7 day of February, 2005, before me
personally came Joseph A. Lloret to me known, who, being by me duly
sworn, did depose and say that he is Assistant Treasurer of The Bank of
New York, one of the corporations described in and which executed the foregoing
instrument; that he knows the seal of said corporation; that the seal affixed
to said instrument is such corporate seal; that it was so affixed by authority
of the Board of Directors of said corporation, and that he signed his name
thereto by like authority.

 

	
   

  	
  /s/ Lucille
  Mercurio

  
	
   

  	
  Notary Public,
  State of New York

  
	
   

  	
  No. 03-4654994

  
	
   

  	
  Qualified in
  Bronx County

  
	
   

  	
  Certificate
  filed in New York County

  
	
   

  	
  Commission
  Expires 12/31/2005

  
	
   

  	
   

  
	
  [Seal]

  	
   

  

 

75

 

Exhibit A

 

Form of election to
receive payments in

U.S. Dollars or to rescind such election

 

The undersigned, registered owner of certificate
number -                         
(the “Certificate”), representing [name of series of Debt Securities] (the
“Debt Securities”) in an aggregate principal amount of                         ,
hereby

 

o                                    elects
to receive all payments in respect of the Debt Securities in U.S. Dollars. Subject
to the terms and conditions set forth in the indenture under which the Debt
Securities were issued (the “Indenture”), this election shall take effect on
the next Record Date (as defined in the Indenture) after this election form is
received by the Trustee and shall remain in effect until it is rescinded by the
undersigned or until the Certificate is transferred or paid in full at
Maturity.

 

o                                    rescinds
the election previously submitted by the undersigned to receive all payments in
respect of the Debt Securities in U.S. Dollars represented by the Certificate. Subject
to the terms and conditions set forth in the Indenture, this rescission shall
take effect on the next Record Date (as defined in such Indenture) after this
election form is received by the Trustee, or, in the case of Maturity of
an installment of principal, the fifteenth day immediately preceding such
Maturity.

 

The undersigned acknowledges that, except as provided
in the Indenture, any costs incurred by or on behalf of the Company in
connection with the conversion of foreign currency into U.S. Dollars shall be
borne by the undersigned through deduction from payments required to be made to
the undersigned pursuant to the terms of the Indenture.

 

All capitalized terms used herein, unless otherwise
defined herein, shall have the meanings assigned to them in the Indenture.

 

	
   

  	
   

  	
   

  
	
   

  	
  (Name of Owner)

  
	
   

  	
   

  	
   

  
	
   

  	
  (Signature of
  owner)

  

 

76Exhibit 10.129

 

Countrywide
Financial Corporation

Executive Contribution Account Plan

 

 

TABLE OF CONTENTS

 

	
   

  	
   

  	
  Page

  
	
  ARTICLE 1. Definitions

  	
  1

  
	
  1.1

  	
  “Account”

  	
  1

  
	
  1.2

  	
  “Beneficiary”

  	
  1

  
	
  1.3

  	
  “Beneficiary Designation Form”

  	
  1

  
	
  1.4

  	
  “Benefit Distribution Date”

  	
  1

  
	
  1.5

  	
  “Board”

  	
  1

  
	
  1.6

  	
  “Change in Control”

  	
  1

  
	
  1.7

  	
  “Code”

  	
  3

  
	
  1.8

  	
  “Committee”

  	
  3

  
	
  1.9

  	
  “Company”

  	
  3

  
	
  1.10

  	
  “Compensation”

  	
  4

  
	
  1.11

  	
  “Disability” or “Disabled”

  	
  4

  
	
  1.12

  	
  “ERISA”

  	
  4

  
	
  1.13

  	
  “Initial Account Balance”

  	
  4

  
	
  1.14

  	
  “Key Employee”

  	
  4

  
	
  1.15

  	
  “Participant”

  	
  4

  
	
  1.16

  	
  “Plan”

  	
  4

  
	
  1.17

  	
  “Plan Year”

  	
  4

  
	
  1.18

  	
  “Retirement”, “Retire(s)” or “Retired”

  	
  4

  
	
  1.19

  	
  “SERP”

  	
  4

  
	
  1.20

  	
  “Termination of Employment”

  	
  4

  
	
  1.21

  	
  “Unforeseeable Financial Emergency”

  	
  4

  
	
  1.22

  	
  “Years of Plan Participation”

  	
  5

  
	
  1.23

  	
  “Years of Service”

  	
  5

  
	
   

  	
   

  	
   

  
	
  ARTICLE 2. Participation

  	
  5

  
	
  2.1

  	
  Participation

  	
  5

  
	
   

  	
   

  	
   

  
	
  ARTICLE 3. Accounts

  	
  5

  
	
  3.1

  	
  Initial Account Balance

  	
  5

  
	
  3.2

  	
  Company Contributions

  	
  5

  
	
  3.3

  	
  Paid Leave of Absence

  	
  6

  
	
  3.4

  	
  Vesting

  	
  6

  
	
  3.5

  	
  Investment of Accounts

  	
  6

  
	
   

  	
   

  	
   

  
	
  ARTICLE 4. Distributions

  	
  6

  
	
  4.1

  	
  Payment of Benefit

  	
  6

  
	
  4.2

  	
  In-Service Distributions

  	
  7

  
	
   

  	
   

  	
   

  
	
  ARTICLE 5. Beneficiary Designation

  	
  7

  
	
  5.1

  	
  Beneficiary

  	
  7

  
	
  5.2

  	
  Acknowledgment

  	
  7

  
	
  5.3

  	
  No Beneficiary Designation

  	
  7

  
	
   

  	
   

  	
   

  
	
  ARTICLE 6. Termination and Amendment

  	
  8

  
	
  6.1

  	
  Termination of Plan

  	
  8

  

 

 

	
  ARTICLE 7. Administration

  	
  8

  
	
  7.1

  	
  Committee Duties

  	
  8

  
	
  7.2

  	
  Agents

  	
  8

  
	
  7.3

  	
  Binding Effect of Decisions

  	
  9

  
	
  7.4

  	
  Indemnity of Committee

  	
  9

  
	
   

  	
   

  	
   

  
	
  ARTICLE 8. Other Benefits and Agreements

  	
  9

  
	
  8.1

  	
  Coordination with Other Benefits and Agreements

  	
  9

  
	
   

  	
   

  	
   

  
	
  ARTICLE 9. Claims Procedures

  	
  9

  
	
  9.1

  	
  Presentation of Claim

  	
  9

  
	
  9.2

  	
  Notification of Decision

  	
  9

  
	
  9.3

  	
  Review of a Denied Claim

  	
  10

  
	
  9.4

  	
  Decision on Review

  	
  10

  
	
   

  	
   

  	
   

  
	
  ARTICLE 10. Miscellaneous

  	
  11

  
	
  10.1

  	
  Status of Plan

  	
  11

  
	
  10.2

  	
  Unsecured General Creditor

  	
  11

  
	
  10.3

  	
  Company’s Liability

  	
  11

  
	
  10.4

  	
  Nonassignability

  	
  11

  
	
  10.5

  	
  Not a Contract of Employment

  	
  12

  
	
  10.6

  	
  Furnishing Information

  	
  12

  
	
  10.7

  	
  Terms

  	
  12

  
	
  10.8

  	
  Captions

  	
  12

  
	
  10.9

  	
  Governing Law

  	
  12

  
	
  10.10

  	
  Notice

  	
  12

  
	
  10.11

  	
  Withholding

  	
  13

  
	
  10.12

  	
  Successors

  	
  13

  
	
  10.13

  	
  Spouse’s Interest

  	
  13

  
	
  10.14

  	
  Validity

  	
  13

  
	
  10.15

  	
  Incompetent

  	
  13

  
	
  10.16

  	
  Insurance

  	
  13

  

 

 

COUNTRYWIDE
FINANCIAL CORPORATION

EXECUTIVE
CONTRIBUTION ACCOUNT PLAN

 

Purpose

 

The purpose of this Plan is to provide specified benefits to certain
key employees of Countrywide Financial Corporation (the “Company”) (and
participating subsidiaries) who are expected to contribute materially to the
continued growth, development and future business success of the Company. This
Plan shall be unfunded for tax purposes and for purposes of Title I of
ERISA.

 

ARTICLE 1. 

Definitions

 

Unless otherwise clearly apparent from the context, the following
phrases or terms shall have the following meanings:

 

1.1           “Account” shall mean,
on any date, the sum of (i) the Initial Account Balance, (ii) the
Company’s annual contributions hereunder, and (iii) earnings credited or
debited to the Account, less (iv) any distributions made to the Participant or
his Beneficiary hereunder. The Account shall be a bookkeeping entry only and
shall be utilized solely as a device for the measurement and determination of
the amounts payable hereunder.

 

1.2           “Beneficiary” shall
mean one or more persons, trusts, estates or other entities, designated in
accordance with Article 5, to receive benefits under this Plan upon a
Participant’s death.

 

1.3           “Beneficiary
Designation Form” shall mean the form established from time to time by the
Committee to designate one or more Beneficiaries.

 

1.4           “Benefit Distribution
Date” shall mean the date upon which a Participant becomes entitled to a
distribution of his vested Account balance. Except with respect to Key
Employees, a Participant’s Benefit Distribution Date shall be the date which is
sixty (60) days following the date on which he has a Termination of Employment
(including by reason of Retirement, death or Disability). A Key Employee’s
Benefit Distribution Date shall be the last day of the six-month period immediately following the date on which the
Participant has such a Termination of Employment.

 

1.5           “Board” shall mean the
board of directors of the Company.

 

1.6           “Change in Control”
shall mean the first to occur of any of the following events:

 

(a)           An acquisition (other than directly
from the Company) of any common stock or other “Voting Securities” (as
hereinafter defined) of the Company by any “Person” (as the term person is used
for purposes of Section 13(d) or 14(d) of the Securities Exchange Act of 1934,
as amended (the “Exchange Act”)), immediately after which such Person has “Beneficial Ownership” (within
the meaning of Rule 13d-3 promulgated under the Exchange Act) of twenty five

 

 

percent (25%) or more of the then outstanding shares of
the Company’s common stock or the combined voting power of the Company’s then
outstanding Voting Securities; provided, however, in determining whether a Change in
Control has occurred, Voting Securities which are acquired in a “Non-Control
Acquisition” (as hereinafter defined) shall not constitute an acquisition which
would cause a Change in Control. For purposes of this Agreement, (1) ”Voting
Securities” shall mean the Company’s outstanding voting securities entitled to
vote generally in the election of directors and (2) a “Non-Control
Acquisition” shall mean an acquisition by (i) an employee benefit plan (or a trust
forming a part thereof) maintained by (A) the Company or (B) any
corporation or other Person of which a majority of its voting power or its
voting equity securities or equity interest is owned, directly or indirectly,
by the Company (for purposes of this definition, a “Subsidiary”), (ii) the
Company or any of its Subsidiaries, or (iii) any Person in connection with
a “Non-Control Transaction” (as hereinafter defined);

 

(b)           The individuals who, as of  September 13, 1996 are members of the Board
(the “Incumbent Board”), cease for any reason to constitute at least two thirds
of the members of the Board; provided, however, that if the election, or
nomination for election by the Company’s common stockholders, of any new
director was approved by a vote of at least two-thirds of the Incumbent Board,
such new director shall, for purposes of this Agreement, be considered as a
member of the Incumbent Board; provided further, however, that no individual
shall be considered a member of the Incumbent Board if such individual
initially assumed office as a result of either an actual or threatened “Election
Contest” (as described in Rule 14a-11 promulgated under the Exchange Act) or
other actual or threatened solicitation of proxies or consents by or on behalf
of a Person other than the Board (a “Proxy Contest”) including by reason of any agreement intended
to avoid or settle any Election Contest or Proxy Contest; or

 

(c)           The consummation of:

 

(i)            A merger,
consolidation or reorganization involving the Company, unless such merger,
consolidation or reorganization is a “Non- Control Transaction.”  A “Non-Control
Transaction” shall mean a merger,
consolidation or reorganization of the Company where:

 

(A)          the stockholders of the
Company, immediately before such merger, consolidation or reorganization, own
directly or indirectly immediately following such merger, consolidation or
reorganization, at least seventy percent (70%)
of the combined voting power of the outstanding Voting Securities of the
corporation resulting from such merger, consolidation or reorganization (the “Surviving
Corporation”) in substantially
the same proportion as their
ownership of the Voting Securities immediately before such merger,
consolidation or reorganization;

 

2

 

(B)           the individuals who
were members of the Incumbent Board immediately prior to the execution of the
agreement providing for such merger, consolidation or reorganization constitute
at least two-thirds of the members of the board of directors of the Surviving
Corporation, in the event that, immediately following the consummation of such
transaction, a corporation beneficially owns, directly or indirectly, a
majority of the Voting Securities of the Surviving Corporation; and

 

(C)           no Person other than
(i) the Company, (ii) any Subsidiary, (iii) any employee benefit
plan (or any trust forming a part thereof) maintained by the Company, the
Surviving Corporation, or any Subsidiary, or (iv) any Person who, immediately prior to such merger,
consolidation or reorganization had Beneficial Ownership of twenty five percent (25%) or more of the then outstanding Voting
Securities or common stock of the Company, has Beneficial Ownership of twenty five percent (25%) or more of the combined voting power
of the Surviving Corporation’s then outstanding Voting Securities or its common
stock;

 

(ii)           A
complete liquidation or dissolution of the Company; or

 

(iii)          The sale or other
disposition of all or
substantially all of the assets of the Company to any Person (other than a
transfer to a Subsidiary).

 

Notwithstanding the foregoing, a Change in
Control shall not be deemed to occur solely because any Person (the “Subject
Person”) acquired Beneficial Ownership of more than the permitted amount of the
then outstanding common stock or Voting Securities as a result of the
acquisition of common stock or Voting Securities by the Company which, by
reducing the number of shares of common stock or Voting Securities then
outstanding, increases the proportional number of shares Beneficially Owned by
the Subject Persons; provided, however, that if
a Change in Control would occur (but for the operation of this sentence) as a
result of the acquisition of common stock or Voting Securities by the Company, and after such share acquisition by
the Company, the Subject Person becomes the Beneficial Owner of any additional
common stock or Voting Securities which increases the percentage of the then
outstanding common stock or Voting Securities Beneficially Owned by the Subject Person, then a Change in Control shall occur.

 

1.7           “Code” shall mean the
Internal Revenue Code of 1986, as it may be amended from time to time and any
related regulations or other guidance issued thereunder.

 

1.8           “Committee” shall mean
the committee described in Article 10.

 

1.9           “Company” shall mean
Countrywide Financial Corporation, a Delaware corporation, and any successor
thereto.

 

3

 

1.10         “Compensation” shall mean
the sum of a Participant’s base salary and any bonus paid to the Participant
during any Plan Year, in each case, before reduction for compensation deferred
pursuant to all qualified, non-qualified and Code Section 125 plans, up to a
maximum aggregate amount of three million dollars ($3,000,000).

 

1.11         “Disability” or “Disabled”
shall mean a “disability”, as such term is defined in Code Section 409A.

 

1.12         “ERISA” shall mean the
Employee Retirement Income Security Act of 1974, as it may be amended from time
to time, and any related regulations or other guidance issued thereunder.

 

1.13         “Initial Account Balance”
of a Participant shall mean the amount set forth on the schedule attached
hereto.

 

1.14         “Key Employee” shall mean
any Participant who is a “key employee” within the meaning of Code Section
409A.

 

1.15         “Participant” shall mean
any employee of the Company (or any participating subsidiary) who becomes a Participant
in accordance with Section 2.1 hereof.

 

1.16         “Plan” shall mean the
Countrywide Financial Corporation Executive Contribution Account Plan.

 

1.17         “Plan Year” shall mean
the calendar year.

 

1.18         “Retirement”, “Retire(s)”
or “Retired” shall mean a Participant’s separation from service with the
Company on or after the earlier of the attainment of (a) age sixty-five (65) or (b) age fifty-five (55) with ten (10) Years of
Service.

 

1.19         “SERP” shall mean the
Countrywide Financial Corporation Supplemental Executive Retirement Plan.

 

1.20         “Termination of
Employment” shall mean a Participant’s separation from service with the Company
for any reason other than Retirement, Disability, death or an authorized leave
of absence (as determined in accordance with Code Section 409A).

 

1.21         “Unforeseeable Financial
Emergency” shall mean an unforeseeable emergency that is caused by an event
beyond the control of the Participant that would result in severe financial
hardship to the Participant resulting from (i) a sudden and unexpected
illness or accident of the Participant, the Participant’s spouse, or a
dependent (as defined in Code Section 152(a)) of the Participant, (ii) a
loss of the Participant’s property due to casualty, or (iii) such other
similar extraordinary and unforeseeable circumstances arising as a result of
events beyond the control of the Participant, all as determined in the sole
discretion of the Committee, which shall interpret such term consistent with
Code Section 409A.

 

4

 

1.22         “Years of Plan
Participation” shall mean the total number of full Plan Years a Participant has
been a Participant in the Plan prior to his or her Termination of Employment,
including any years of participation in the SERP prior to the commencement of
participation hereunder.

 

1.23         “Years of Service” shall
mean the total number of full years in which a Participant has been employed by
the Company. The Committee shall make a determination, in its sole discretion,
as to whether any partial year of employment shall be counted as a Year of
Service.

 

ARTICLE 2. 

Participation

 

2.1           Participation.  Any employee of the Company (or any
participating subsidiary) who, on January 1, 2006, is (a) a Managing
Director (or is employed in a more senior position) or (b) an Executive
Vice President who has completed at least five (5) Years of Service as of
December 31, 2005, automatically shall become a Participant on January 1, 2006.
On or after January 1, 2006, anyone who becomes a Managing Director (or is
employed in a more senior position) or who completes five (5) Years of Service
as an Executive Vice President automatically shall become a Participant on the
first day of the  calendar year next
following the date on which the individual attains such status. Any employee
who is a Participant in the SERP shall not be eligible to participate herein.

 

ARTICLE 3. 

Accounts

 

3.1           Initial
Account Balance. As of January 1, 2006, each Participant shall
be credited with his or her Initial Account Balance, if any.

 

3.2           Company
Contributions.

 

(a)           For each Plan Year, the Company shall make the following
contribution to a Participant’s Account: 

 

	
  Position

  	
   

  	
  Percentage of

  Compensation

  	
   

  
	
  Senior Managing Director

  	
   

  	
  5

  	
  %

  
	
  Managing Director

  	
   

  	
  2

  	
  %

  
	
  Executive Vice President

  	
   

  	
  1

  	
  %

  

 

Such
contribution shall be made by March 15th of the year following the
year in which it is earned.

 

5

 

(b)           Notwithstanding the foregoing, the Company shall make no
contribution for any Participant who (i) Retires, dies, suffers a
Disability or incurs a Termination of Employment prior to December 31st
of the year with respect to which the contribution is being made, or
(ii) incurs a Termination of Employment following December 31st
but before the date on which the contribution is actually made, unless such
Participant is fully vested in his Account as of the date of such Termination
of Employment.

 

(c)           The Company shall have the right, but not the obligation, in
its sole discretion, to make an additional contribution in any year, based upon
its attainment of certain performance goals or targets set by the Committee for
that year and communicated to the affected Participants. Any such targets and
the amount of the discretionary contribution, if any, shall be established by
the Committee within ninety (90) days of (i) the beginning of the applicable
Plan Year or (ii) the date on which an individual first becomes a Participant.

 

3.3           Paid
Leave of Absence.  If a
Participant is authorized by the Company to take a paid leave of absence or takes an unpaid leave of absence with the
Company’s consent he or she
shall continue to be entitled to a Company contribution while on such leave.

 

3.4           Vesting.  A Participant shall vest in the balance in
her Account upon (a) attaining age 65, or his death, or Disability while
employed or (b) the completion of ten (10) Years of Service with the
Company, plus the attainment of the earlier of age 55 or five Years of Plan
Participation.

 

3.5           Investment
of Accounts.  Each
Participant shall be entitled to direct the investment of the amount in his
Account in the manner and time, and among the investment media permitted under,
the Company’s Executive Deferred Compensation Plan, and/or any other investment
vehicle selected by the Company’s Investment Committee for Employee Benefit
Plans (or any successor thereto). Notwithstanding the foregoing, such
investments are for measurement purposes only, and a Participant’s election of
any such investment fund, the allocation of her Account balance thereto, and
the crediting or debiting of earnings thereon, shall not be considered or
construed in any manner as an actual investment of her Account balance in any
such investment media but shall at all times be a bookkeeping entry only. The
Participant shall at all times remain an unsecured creditor of the Company.

 

ARTICLE 4. 

Distributions

 

4.1           Payment
of Benefit.

 

(a)           Upon a Participant’s death or Disability, she (or her estate
or legal representative, as applicable) shall receive her vested Account balance
in a single lump sum beginning on, and determined as of, her Benefit
Distribution Date.

 

(b)           A Participant shall have the right to elect to receive her
vested Account balance upon Retirement or Termination of Employment in either
(i) a single lump sum or

 

6

 

(b) an annuity payable in equal monthly
installments over a period of five (5), ten (10) or fifteen (15) years, in each
case, beginning on her Benefit Distribution Date. Such election shall be made in
accordance with procedures established by the Committee, including any form the
Committee deems appropriate. If a Participant does not make an election with
respect to the payment of her benefit, she shall be deemed to have elected to
receive a lump sum payment.

 

4.2           In-Service
Distributions.  Notwithstanding
the foregoing, a Participant shall be entitled to an immediate distribution of
all or a portion of his vested Account balance upon the occurrence of an
Unforeseeable Financial Emergency, provided that the amount that may be
distributed shall be limited to the lesser of the amount needed to relieve such
Unforeseeable Financial Emergency or the maximum amount permitted by Code
Section 409A (as determined by the Committee, in its sole discretion). No other
in-service distributions are permissible, except to the extent such
distribution is permitted by Code Section 409A.

 

ARTICLE 5. 

Beneficiary Designation

 

5.1           Beneficiary.  At the time an Employee becomes a
Participant, he shall have the right to designate and/or change primary and/or
contingent beneficiaries to receive any benefits payable under the Plan upon
his death by completing and submitting a Beneficiary Designation Form to the
Committee, together with any other form or information required by the
Committee. The Beneficiary Designation hereunder may be the same as or
different from such designation under any other plan of the Company. Upon the
acceptance by the Committee of a new Beneficiary Designation Form, all
Beneficiary designations previously filed shall be canceled.

 

5.2           Acknowledgment.  No designation or change in designation of a
Beneficiary shall be effective until received and acknowledged in writing by
the Committee or its designated agent.

 

5.3           No
Beneficiary Designation.  If
a Participant fails to designate a Beneficiary or, if all designated
Beneficiaries predecease the Participant or die prior to complete distribution
of the Participant’s benefits, the Participant’s designated Beneficiary shall
be deemed to be her surviving spouse, or, if none, the executor or personal
representative of the Participant’s estate.

 

7

 

ARTICLE 6. 

Termination and Amendment

 

6.1           Termination
and Amendment.

 

(a)           The
Company reserves the right at any time, or from time to time, to amend or
terminate the Plan by action of the Compensation Committee of the Board. Following a termination of the Plan, the
balances in each Participant’s Account shall remain in the Plan until the
Participant becomes eligible for a distribution in accordance with the terms of
the Plan. Notwithstanding the foregoing, to the extent permissible under Code
Section 409A and other applicable law, following a Change in
Control, the Company shall be permitted to (i) terminate the Plan by
action of the Board, and (ii)
distribute the vested Account balances to Participants in a lump sum no later than twelve (12)
months after a Change in Control, within the meaning of Section 409A of the
Code.

 

(b)           Notwithstanding
anything herein to the contrary, no amendment or modification shall decrease
the value of a Participant’s vested Account balance at the time the amendment
or modification is made.

 

(c)           Notwithstanding
any provision of the Plan to the contrary, in the event that the Company, in
its sole discretion, determines that any provision of the Plan may cause
amounts deferred under the Plan to become immediately taxable to any
Participant under Code Section 409A, the Company may (i) adopt such
amendments to the Plan and appropriate policies and procedures, including
amendments and policies with retroactive effect, that the Company determines
necessary or appropriate to preserve the intended tax treatment of the Plan
benefits provided by the Plan, and/or (ii) take such other actions as the
Company determines necessary or appropriate to comply with the requirements of
Code Section 409A.

 

ARTICLE 7. 

Administration

 

7.1           Committee
Duties.  Except as
otherwise provided herein, the Plan shall be administered by the Company’s
Administrative Committee for Employee Benefit Plans. The Committee shall also
have the discretion and authority to (i) make, amend, interpret, and
enforce all appropriate rules and regulations for the administration of the
Plan, and (ii) decide or resolve any and all questions, including benefit
entitlement determinations and interpretations of the Plan, as may arise in
connection with the Plan. Committee members may be Participants hereunder, but
shall not vote or act on any matter relating solely to himself or herself. When
making a determination or calculation, the Committee shall be entitled to rely
on information furnished by a Participant or the Company (including the Board
or the Compensation Committee).

 

7.2           Agents.  The Committee may, from time to time, employ
agents and delegate to them such administrative duties as it sees fit
(including acting through a duly appointed representative), and may from time
to time consult with counsel.

 

8

 

7.3           Binding
Effect of Decisions.  The
decision or action of the Committee with respect to any question arising out of
or in connection with the administration, interpretation and application of the
Plan and the rules and regulations promulgated hereunder shall be final and
conclusive and binding upon all persons having any interest in the Plan.

 

7.4           Indemnity
of Committee.  The Company
shall indemnify and hold harmless the members of the Committee, any employee to
whom the duties of the Committee may be delegated, against any and all claims,
losses, damages, expenses or liabilities arising from any action or failure to
act with respect to this Plan, except in the case of willful misconduct by the
Committee, any of its members, or any such employee.

 

ARTICLE 8. 

Other Benefits and Agreements

 

8.1           Coordination
with Other Benefits and Agreements.  The benefits provided for a Participant (or
Beneficiary, as applicable) under the Plan are in addition to any other
benefits available to such Participant (or Beneficiary) under any other plan,
program or agreement maintained by the Company. The Plan shall supplement and
shall not supersede, modify or amend any other such plan, program or agreement,
except as may otherwise be expressly provided.

 

ARTICLE 9. 

Claims Procedures

 

9.1           Presentation
of Claim.  No claim for benefits
under the Plan is necessary for payment to be made. Any Participant or
Beneficiary of a deceased Participant who believes that he has not received
timely all benefits to which he is entitled under the Plan (a “Claimant”) may
deliver to the Committee a written claim for a determination with respect to
such claim. If such a claim relates to the contents of a notice received by the
Claimant, the claim must be made within sixty (60) days after such notice
was received by the Claimant. All other claims must be made within one hundred
and eighty (180) days of the date on which the event that caused the claim to
arise occurred. The claim must state with particularity the determination
desired by the Claimant.

 

9.2           Notification
of Decision.  The
Committee shall consider a Claimant’s claim within a reasonable time, but no
later than ninety (90) days after receiving the claim. If the Committee
determines that special circumstances require an extension of time for
processing the claim, written notice of the extension shall be furnished to the
Claimant prior to the termination of the initial ninety (90) day period. In no
event shall such extension exceed a period of ninety (90) days from the end of
the initial period. The extension notice shall indicate the special
circumstances requiring an extension of time, and the date by which the
Committee expects to render the benefit determination. The Committee shall
notify the Claimant in writing:

 

(a)           that the Claimant’s requested determination has been made,
and that the claim has been allowed in full; or

 

9

 

(b)           that the Committee has reached a conclusion contrary, in
whole or in part, to the Claimant’s requested determination, in which case such
notice must set forth, in a manner calculated to be understood by the Claimant:

 

(i)            the specific reason(s)
for the denial of the claim, or any part of it;

 

(ii)           specific reference(s)
to pertinent provisions of the Plan upon which such denial was based;

 

(iii)          a description of any
additional material or information necessary for the Claimant to perfect the
claim, and an explanation of why such material or information is necessary;

 

(iv)          an explanation of the
claim review procedure set forth in Section 9.3 below; and

 

(v)           a statement of the
Claimant’s right to bring a civil action under ERISA Section 502(a) following
an adverse benefit determination on review.

 

9.3           Review of
a Denied Claim.  On or
before sixty (60) days after receiving a notice from the Committee that a
claim has been denied, in whole or in part, a Claimant (or the Claimant’s duly
authorized representative) may file with the Committee a written request for a
review of the denial of the claim. The Claimant (or the Claimant’s duly
authorized representative):

 

(a)           may, upon request and free of charge, have reasonable access
to, and copies of, all documents, records and other information relevant (as
defined in applicable ERISA regulations) to the claim for benefits;

 

(b)           may submit written comments or other documents; and/or

 

(c)           may request a hearing, which the Committee, in its sole
discretion, may grant.

 

9.4           Decision
on Review.  The Committee
shall render its decision on review promptly, and no later than sixty
(60) days after the Committee receives the Claimant’s written request for
a review of the denial of the claim. If the Committee determines that special
circumstances require an extension of time for processing the claim, written
notice of the extension shall be furnished to the Claimant prior to the
termination of the initial sixty (60) day period. In no event shall such
extension exceed a period of sixty (60) days from the end of the initial period.
The extension notice shall indicate the special circumstances requiring an
extension of time and the date by which the Committee expects to render the
benefit determination. In rendering its decision, the Committee shall take into
account all comments, documents, records and other information submitted by the
Claimant relating to the claim, without regard to whether such information was
submitted or considered in the initial benefit determination. The decision must
be written in a manner calculated to be understood by the Claimant, and it must
contain:

 

(a)           specific reasons for the decision;

 

10

 

(b)           specific reference(s) to the pertinent Plan provisions upon
which the decision was based;

 

(c)           a statement that the Claimant is entitled to receive, upon
request and free of charge, reasonable access to and copies of, all documents,
records and other information relevant (as defined in applicable ERISA
regulations) to the Claimant’s claim for benefits; and

 

(d)           a statement of the Claimant’s right to bring a civil action
under ERISA Section 502(a).

 

ARTICLE 10. 

Miscellaneous

 

10.1         Status of
Plan.  The Plan is
intended to be a plan that is not qualified within the meaning of Code Section
401(a), and that “is unfunded and is maintained by an employer primarily for
the purpose of providing deferred compensation for a select group of management
or highly compensated employees” within the meaning of ERISA Sections 201(2),
301(a)(3) and 401(a)(1). The Plan shall be administered and interpreted (i) in
a manner consistent with that intent, and (ii) in accordance with Code Section
409A.

 

10.2         Unsecured General Creditor. 
Participants and their Beneficiaries, heirs, successors and assigns
shall have no legal or equitable rights, interests or claims in any property or
assets of the Company (or any subsidiary). For purposes of the payment of benefits
under this Plan, any and all of the assets of the Company (and its
subsidiaries) shall be, and remain, general, unpledged and unrestricted assets.
The Company’s obligation under the Plan shall be merely that of an unfunded and
unsecured promise to pay money in the future.

 

10.3         Company’s
Liability.  The Company’s
liability for the payment of benefits shall be defined only by the Plan, and it
shall have no obligation to a Participant or Beneficiary under the Plan except
as expressly provided in the Plan.

 

10.4         Nonassignability.  Neither a Participant nor any other person
shall have any right to commute, sell, assign, transfer, pledge, anticipate,
mortgage or otherwise encumber, transfer, hypothecate, alienate or convey in
advance of actual receipt, the amounts, if any, payable hereunder, or any part
thereof, which are, and all rights to which are expressly declared to be,
unassignable and non-transferable. No part of the amounts payable shall, prior
to actual payment, be subject to seizure, attachment, garnishment or
sequestration for the payment of any debts, judgments, alimony or separate
maintenance owed by a Participant or any other person, be transferable by
operation of law in the event of a Participant’s or any other person’s
bankruptcy or insolvency or be transferable to a spouse as a result of a
property settlement or otherwise.

 

11

 

10.5         Not a
Contract of Employment.  The
terms and conditions of the Plan shall not be deemed to constitute a contract
of employment between the Company (or any subsidiary) and any Participant. Such
employment is hereby acknowledged to be an “at will” employment relationship
that can, subject to applicable law, be terminated at any time for any reason,
or no reason, with or without cause, and with or without notice, unless
expressly provided in a written employment agreement. Nothing in the Plan shall
be deemed to give a Participant the right to be retained in the service of the
Company (or any subsidiary), in any capacity or to interfere with the right of
the Company (or any subsidiary) to discipline or discharge the Participant at
any time.

 

10.6         Furnishing
Information.  A
Participant or his or her Beneficiary will cooperate with the Committee by
furnishing any and all information requested by the Committee and take such
other actions as may be requested in order to facilitate the administration of
the Plan and the payments of benefits hereunder, including but not limited to,
the Participant taking such physical examinations as the Committee may deem
necessary.

 

10.7         Terms.  Whenever any words are used herein in the
masculine, they shall be construed as though they were in the feminine in all
cases where they would so apply; and whenever any words are used herein in the
singular or in the plural, they shall be construed as though they were used in
the plural or the singular, as the case may be, in all cases where they would
so apply.

 

10.8         Captions.  The captions of the articles, sections and
paragraphs of the Plan are for convenience only and shall not control or affect
the meaning or construction of any of its provisions.

 

10.9         Governing
Law.  Subject to ERISA,
the provisions of the Plan shall be construed and interpreted according to the
internal laws of the State of California without regard to its conflicts of
laws principles.

 

10.10       Notice.  Any notice or filing required or permitted to
be given to the Committee under the Plan shall be sufficient if in writing and
hand-delivered, or sent by registered or certified mail, to the address below:

 

Countrywide Financial Corporation

4500 Park Granada

Calabasas, CA  91302

Attn: Chief Administrative Officer

 

Such notice
shall be deemed given as of the date of delivery or, if delivery is made by
mail, as of the date shown on the postmark on the receipt for registration or
certification.

 

Any notice or
filing required or permitted to be given to a Participant under the Plan shall
be sufficient if in writing and hand-delivered, or sent by mail, to the last
known address of the Participant, as reflected in the Company’s records.

 

12

 

10.11       Withholding.  The Company shall withhold from any payments
to be made to a Participant (or Beneficiary) under this Plan all federal, state
and local income, employment and other taxes required to be withheld in
connection with such payments, in amounts and in a manner to be determined in
the Company’s sole discretion.

 

10.12       Successors.  The provisions of the Plan shall bind and
inure to the benefit of the Company and its successors and assigns and the
Participant and the Participant’s designated Beneficiaries.

 

10.13       Spouse’s
Interest.  The interest,
if any, in the benefits hereunder of a spouse of a Participant who has
predeceased the Participant shall automatically pass to the Participant and
shall not be transferable by such spouse in any manner, including but not
limited to such spouse’s will, nor shall such interest pass under the laws of
intestate succession.

 

10.14       Validity.  In case any provision of the Plan shall be
illegal or invalid for any reason, said illegality or invalidity shall not
affect the remaining parts hereof, but this Plan shall be construed and
enforced as if such illegal or invalid provision had never been inserted
herein.

 

10.15       Incompetent.  If the Committee determines, in its sole
discretion, that a benefit under the Plan is to be paid to a minor, a person
declared incompetent or to a person incapable of handling the disposition of
that person’s property, the Committee may direct payment of such benefit to the
guardian, legal representative or person having the care and custody of such
minor, incompetent or incapable person. The Committee may require proof of
minority, incompetence, incapacity or guardianship, as it may deem appropriate
prior to distribution of the benefit. Any payment of a benefit shall be a
payment for the account of the Participant and the Participant’s Beneficiary,
as the case may be, and shall be a complete discharge of any liability under
the Plan for such payment amount.

 

10.16       Insurance.  The Company, on its own behalf or on behalf
of the trustee of the Trust, and, in its sole discretion, may apply for and
procure insurance on the life of any Participant, in such amounts and in such
forms as the Trust may choose. The Company or the trustee of the Trust, as the
case may be, shall be the sole owner and beneficiary of any such insurance. The
Participant shall have no interest whatsoever in any such policy or policies,
and at the request of the Employers shall submit to medical examinations and
supply such information and execute such documents as may be required by the
insurance company or companies to whom the Company has applied for insurance.

 

13

 

IN WITNESS WHEREOF,
the Company has signed this Plan document as of April 13, 2006.

 

	
   

  	
  Countrywide
  Financial Corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Marshall
  Gates

  	
   

  
	
   

  	
  Marshall
  Gates,

  
	
   

  	
  Senior
  Managing Director,

  
	
   

  	
  Chief
  Administrative Officer

  

 

 

14

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