Document:

EX-4.1 INDENTURE DATED 11-6-06

 

Exhibit 4.1

MPT OPERATING PARTNERSHIP, L.P., as Issuer

MEDICAL PROPERTIES TRUST, INC., as Guarantor

WILMINGTON TRUST COMPANY, as Trustee

INDENTURE

Dated as of

November 6, 2006

6.125% Exchangeable Senior Notes due 2011

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 1 

 Definitions 

	Section 1.01. Definitions
	 	 	1	 
	 
	 	 	 	 
	ARTICLE 2 

 Issue, Description, Execution, Registration and Exchange of Notes 

	 
	 	 	 	 
	Section 2.01. Designation Amount and Issue of Notes
	 	 	10	 
	Section 2.02. Form of Notes
	 	 	11	 
	Section 2.03. Date and Denomination of Notes; Payments of Interest
	 	 	12	 
	Section 2.04. Execution of Notes
	 	 	14	 
	Section 2.05. Exchange and Registration of Transfer of Notes; Restrictions
on Transfer
	 	 	14	 
	Section 2.06. Mutilated, Destroyed, Lost or Stolen Notes
	 	 	19	 
	Section 2.07. Temporary Notes
	 	 	20	 
	Section 2.08. Cancellation of Notes
	 	 	20	 
	Section 2.09. CUSIP Numbers
	 	 	21	 
	 
	 	 	 	 
	ARTICLE 3 

 Redemption and Repurchase of Notes 

	 
	 	 	 	 
	Section 3.01. Redemption of Notes
	 	 	21	 
	Section 3.02. Notice of Optional Redemption; Selection of Notes
	 	 	21	 
	Section 3.03. Payment of Notes Called for Redemption by the Issuer
	 	 	23	 
	Section 3.04. Sinking Fund
	 	 	24	 
	Section 3.05. Repurchase at Option of Holders Upon a Designated Event
	 	 	24	 
	Section 3.06. [Reserved]
	 	 	25	 
	Section 3.07. Issuer Repurchase Notice
	 	 	25	 
	Section 3.08. Effect of Designated Event Repurchase Notice; Withdrawal
	 	 	27	 
	Section 3.09. Deposit of Repurchase Price
	 	 	28	 
	Section 3.10. Notes Repurchased in Part
	 	 	28	 
	Section 3.11. Repayment to the Issuer
	 	 	28	 
	 
	 	 	 	 
	ARTICLE 4 

 Particular Covenants of the Issuer 

	 
	 	 	 	 
	Section 4.01. Payment of Principal, Premium and Interest
	 	 	29	 
	Section 4.02. Maintenance of Office or Agency
	 	 	29	 
	Section 4.03. Appointments to Fill Vacancies in Trustee’s Office
	 	 	29	 
	Section 4.04. Provisions as to Paying Agent
	 	 	30	 

 

 

	 	 	 	 	 
	 	 	Page	 
	Section 4.05. Existence
	 	 	31	 
	Section 4.06. [Reserved]
	 	 	31	 
	Section 4.07. Stay, Extension and Usury Laws
	 	 	31	 
	Section 4.08. Compliance Certificate
	 	 	31	 
	Section 4.09. Additional Interest Notice
	 	 	31	 
	 
	 	 	 	 
	ARTICLE 5 

 Noteholders’ Lists and Reports by the Issuer and the Trustee 

	 
	 	 	 	 
	Section 5.01. Noteholders’ Lists
	 	 	32	 
	Section 5.02. Preservation and Disclosure of Lists
	 	 	32	 
	Section 5.03. Reports by Trustee
	 	 	32	 
	Section 5.04. Reports by Issuer
	 	 	32	 
	 
	 	 	 	 
	ARTICLE 6 

 Remedies of the Trustee and Noteholders on an Event of Default 

	 
	 	 	 	 
	Section 6.01. Events of Default
	 	 	33	 
	Section 6.02. Payments of Notes on Default; Suit Therefor
	 	 	36	 
	Section 6.03. Application of Monies Collected by Trustee
	 	 	38	 
	Section 6.04. Proceedings by Noteholders
	 	 	38	 
	Section 6.05. Proceedings by Trustee
	 	 	39	 
	Section 6.06. Remedies Cumulative and Continuing
	 	 	39	 
	Section 6.07. Direction of Proceedings and Waiver of Defaults by
Majority of Noteholders
	 	 	39	 
	Section 6.08. Undertaking to Pay Costs
	 	 	40	 
	 
	 	 	 	 
	ARTICLE 7 

 The Trustee 

	 
	 	 	 	 
	Section 7.01. Notice of Defaults
	 	 	40	 
	Section 7.02. Certain Rights of Trustee
	 	 	41	 
	Section 7.03. Not Responsible for Recitals or Issuance of Notes
	 	 	43	 
	Section 7.04. May Hold Notes and Common Stock
	 	 	43	 
	Section 7.05. Money Held in Trust
	 	 	43	 
	Section 7.06. Compensation and Reimbursement
	 	 	43	 
	Section 7.07. Corporate Trustee Required; Eligibility; Conflicting Interests
	 	 	44	 
	Section 7.08. Resignation and Removal; Appointment of Successor
	 	 	44	 
	Section 7.09. Acceptance of Appointment By Successor
	 	 	45	 
	Section 7.10. Merger, Conversion, Consolidation or Succession to Business
	 	 	46	 
	Section 7.11. Appointment of Authenticating Agent
	 	 	47	 
	Section 7.12. Certain Duties and Responsibilities of the Trustee
	 	 	48	 

ii

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 8 

 The Noteholders 

	 
	 	 	 	 
	Section 8.01. Action by Noteholders
	 	 	49	 
	Section 8.02. Proof of Execution by Noteholders
	 	 	50	 
	Section 8.03. Absolute Owners
	 	 	50	 
	Section 8.04. Issuer-owned Notes Disregarded
	 	 	50	 
	Section 8.05. Revocation of Consents; Future Holders Bound
	 	 	51	 
	 
	 	 	 	 
	ARTICLE 9 

 Supplemental Indentures 

	 
	 	 	 	 
	Section 9.01. Supplemental Indentures Without Consent of Noteholders
	 	 	51	 
	Section 9.02. Supplemental Indenture With Consent of Noteholders
	 	 	52	 
	Section 9.03. Effect of Supplemental Indenture
	 	 	54	 
	Section 9.04. Notation on Notes
	 	 	54	 
	Section 9.05. Evidence of Compliance of Supplemental Indenture to Be Furnished to Trustee
	 	 	54	 
	 
	 	 	 	 
	ARTICLE 10 

 Consolidation, Merger, Sale, Conveyance and Lease 

	 
	 	 	 	 
	Section 10.01. Issuer May Consolidate on Certain Terms
	 	 	54	 
	Section 10.02. Issuer Successor to Be Substituted
	 	 	55	 
	Section 10.03. Guarantor May Consolidate on Certain Terms
	 	 	55	 
	Section 10.04. Guarantor Successor to Be Substituted
	 	 	56	 
	 
	 	 	 	 
	ARTICLE 11 

 Satisfaction and Discharge of Indenture 

	 
	 	 	 	 
	Section 11.01. Satisfaction and Discharge of Indenture
	 	 	57	 
	Section 11.02. Application of Trust Funds
	 	 	58	 
	Section 11.03. Paying Agent to Repay Monies Held
	 	 	58	 
	Section 11.04. Return of Unclaimed Monies
	 	 	58	 
	Section 11.05. Reinstatement
	 	 	58	 
	 
	 	 	 	 
	ARTICLE 12 

 Immunity of Incorporators, Stockholders, Officers and Directors 

	 
	 	 	 	 
	Section 12.01. Indenture and Notes Solely Corporate Obligations
	 	 	59	 
	 
	 	 	 	 
	ARTICLE 13 

 Exchange Of Notes 

	 
	 	 	 	 
	Section 13.01. Right to Exchange
	 	 	59	 

iii

 

	 	 	 	 	 
	 	 	Page	 
	Section 13.02. Exercise of Exchange Right; No Adjustment for Interest or
Dividends
	 	 	63	 
	Section 13.03. Cash Payments in Lieu of Fractional Shares
	 	 	65	 
	Section 13.04. Exchange Rate
	 	 	65	 
	Section 13.05. Adjustment of Exchange Rate
	 	 	65	 
	Section 13.06. Taxes on Shares Issued
	 	 	73	 
	Section 13.07. Reservation of Shares, Shares to Be Fully Paid; Compliance with
Governmental Requirements; Listing of Common Stock
	 	 	73	 
	Section 13.08. Responsibility of Trustee
	 	 	74	 
	Section 13.09. Notice to Holders Prior to Certain Actions
	 	 	74	 
	Section 13.10. Settlement upon Exchange
	 	 	75	 
	Section 13.11. Exchange Rate Adjustment After Certain Designated Events
	 	 	76	 
	Section 13.12. Calculations in Respect of Notes
	 	 	78	 
	 
	 	 	 	 
	ARTICLE 14 

 Meetings of Holders of Notes 

	 
	 	 	 	 
	Section 14.01. Purposes for Which Meetings May Be Called
	 	 	78	 
	Section 14.02. Call, Notice and Place of Meetings
	 	 	78	 
	Section 14.03. Persons Entitled to Vote at Meetings
	 	 	78	 
	Section 14.04. Quorum; Action
	 	 	79	 
	Section 14.05. Determination of Voting Rights; Conduct and Adjournment
of Meetings
	 	 	80	 
	Section 14.06. Counting Votes and Recording Action of Meetings
	 	 	80	 
	 
	 	 	 	 
	ARTICLE 15 

 Guarantee 

	 
	 	 	 	 
	Section 15.01. Guarantee
	 	 	81	 
	Section 15.02. Execution and Delivery of Guarantee
	 	 	82	 
	Section 15.03. Limitation of Guarantor’s Liability; Certain Bankruptcy Events
	 	 	83	 
	Section 15.04. Application of Certain Terms and Provisions to the Guarantor
	 	 	83	 
	 
	 	 	 	 
	ARTICLE 16 

 Miscellaneous Provisions 

	 
	 	 	 	 
	Section 16.01. Provisions Binding on Issuer’s and Guarantor’s Successors
	 	 	84	 
	Section 16.02. Official Acts by Successor Corporation
	 	 	84	 
	Section 16.03.
Addresses for Notices, etc.
	 	 	84	 
	Section 16.04. Governing Law
	 	 	85	 
	Section 16.05. Evidence of Compliance with Conditions Precedent, Certificates to Trustee
	 	 	85	 
	Section 16.06. Legal Holidays
	 	 	86	 

iv

 

	 	 	 	 	 
	 	 	Page	 
	Section 16.07. Conflict with Trust Indenture Act
	 	 	86	 
	Section 16.08. No Security Interest Created
	 	 	86	 
	Section 16.09. Benefits of Indenture
	 	 	86	 
	Section 16.10. Table of Contents, Headings, etc.
	 	 	86	 
	Section 16.11. Execution in Counterparts
	 	 	86	 
	Section 16.12. Severability
	 	 	86	 
	Section 16.13. No Stockholder Rights for Noteholders
	 	 	87	 
	 
	 	 	 	 
	Exhibit A Form of Note
	 	 	A-1	 

v

 

CROSS-REFERENCE TABLE*

	 	 	 	 	 
	Trust Indenture Act Section	 	Indenture Section
	310(a)(1)

	 	 	7.09	 
	(a)(2)

	 	 	7.07	 
	(a)(3)

	 	 	7.07	 
	(a)(4)

	 	 	N.A.	 
	(a)(5)

	 	 	7.07	 
	(b)

	 	 	7.08	 
	(c)

	 	 	N.A.	 
	311(a)      

	 	 	N.A.	 
	(b)

	 	 	N.A.	 
	(c)

	 	 	N.A.	 
	312(a)      

	 	 	5.01	 
	(b)

	 	 	5.02	 
	(c)

	 	 	5.02	 
	313(a)      

	 	 	5.03	 
	(b)

	 	 	5.03	 
	(c)

	 	 	N.A.	 
	(d)

	 	 	5.03	 
	314(a)      

	 	 	4.09, 5.04	 
	(b)

	 	 	N.A.	 
	(c)(1)

	 	 	N.A.	 
	(c)(2)

	 	 	N.A.	 
	(c)(3)

	 	 	N.A.	 
	(d)

	 	 	N.A.	 
	(e)

	 	 	N.A.	 
	(f)

	 	 	N.A.	 
	315(a)      

	 	 	7.02	 
	(b)

	 	 	7.01	 
	(c)

	 	 	6.05	 
	(d)

	 	 	7.01	 
	(e)

	 	 	6.09	 
	316(a)(1)(A)

	 	 	6.07	 
	(a)(1)(B)

	 	 	6.07	 
	(a)(2)

	 	 	N.A.	 
	(b)

	 	 	N.A.	 
	(c)

	 	 	N.A.	 
	317(a)(1)   

	 	 	6.02	 
	(a)(2)

	 	 	6.02	 
	(b)

	 	 	4.04	 
	318(a)      

	 	 	N.A.	 

 

			
	N.A. means not applicable.
	 
	*	 	This Cross-Reference Table is not part of the Indenture.

vi

 

 

INDENTURE

     INDENTURE dated as of November 6, 2006 among MPT Operating Partnership, L.P., a Delaware
limited partnership (hereinafter called the “Issuer”), Medical Properties Trust, Inc., a Maryland
corporation (hereinafter called the “Guarantor”), each having its principal office at 1000 Urban
Center Drive, Suite 501, Birmingham, Alabama 35242, and Wilmington Trust Company, a Delaware
banking corporation, as trustee hereunder (hereinafter called the “Trustee”).

     Each party agrees as follows for the benefit of the other parties and for the equal and
ratable benefit of the holders of the Issuer’s 6.125% Exchangeable Senior Notes due 2011
(hereinafter called the “Notes”) guaranteed by the Guarantor.

ARTICLE 1

Definitions

     Section 1.01. Definitions. The terms defined in this Section 1.01 (except as herein
otherwise expressly provided or unless the context otherwise requires) for all purposes of this
Indenture and of any indenture supplemental hereto shall have the respective meanings specified in
this Section 1.01. All other terms used in this Indenture that are defined in the Trust Indenture
Act (as defined below) or which are defined for purposes of the Trust Indenture Act by reference to
definitions contained in the Securities Act (as defined below) (except as herein otherwise
expressly provided or unless the context otherwise requires) shall have the respective meanings
assigned to such terms in the Trust Indenture Act and in the Securities Act as in force at the date
of the execution of this Indenture. The words “herein,” “hereof,” “hereunder” and words of similar
import refer to this Indenture as a whole and not to any particular Article, Section or other
subdivision. The terms defined in this Article include the plural as well as the singular.

     “Additional Interest” has the meaning specified in the Registration Rights Agreement (as
defined below).

     “Additional Interest Notice” has the meaning specified in Section 4.09.

     “Additional Notes” has the meaning specified in Section 2.01.

     “Additional Designated Event Shares” has the meaning specified in Section 13.11(a).

     “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 or cause the direction of 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.

 

 

     “Agent Members” has the meaning specified in Section 2.05(b)(v).

     “Applicable Exchange Rate” as of any Trading Day, means the Exchange Rate in effect on such
date, after giving effect to any adjustment provided for in Section 13.05 or Section 13.11.

     “Applicable Observation Period” with respect to any Note means the 60 consecutive Trading Day
period beginning on and including the second Trading Day after the Exchange Date relating to such
Note, except that with respect to any Note surrendered for exchange during the period beginning on
August 15, 2011 and ending on the second Business Day prior to the Maturity Date, “Applicable
Observation Period” means the first 60 Trading Days beginning on and including the 62nd Scheduled
Trading Day prior to the Maturity Date.

     “Bankruptcy Law” means Title 11, U.S. Code or any similar federal or state law for the relief
of debtors.

     “Benefited Party” has the meaning specified in Section 15.01.

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

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

     “Business Day” means each Monday, Tuesday, Wednesday, Thursday and Friday, other than (i) a
day on which banking institutions in The City of Chicago or The City of New York are authorized or
obligated by law or executive order to close, or (ii) a day on which the Corporate Trust Office of
the Trustee is authorized or obligated by law or executive order to close.

     “Charter” means the Second Articles of Amendment and Restatement of the Guarantor dated March
29, 2004, as amended to date.

     “close of business” means 5:00 p.m., New York City time.

     “Closing Sale Price” of Common Stock or other capital stock or similar equity interests or
other publicly traded securities on any Trading Day means the closing sale price per share (or, if
no closing sale price is reported, the average of the closing bid and ask prices or, if more than
one in either case, the average of the average closing bid and the average closing ask prices) on
such date as reported on the principal United States securities exchange on which Common Stock or
such other capital stock or similar equity interests or other securities are traded or, if Common
Stock or such other capital stock or similar equity interests or other securities are not listed on
a United States national or regional securities exchange, any United States system of automated
dissemination of quotations of securities prices or an established over-the-counter trading market
in the

2

 

United States. The Closing Sale Price will be determined without regard to after-hours trading
or extended market making. In the absence of the foregoing, the Issuer will determine the Closing
Sale Price on such basis as it considers appropriate.

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

     “Common Stock” means all shares of capital stock issued by the Guarantor other than Preferred
Stock. Shares of Common Stock issuable on exchange of Notes shall include only shares of the class
designated as common stock of the Guarantor at the date of this Indenture (namely, the common
stock, par value $0.001) or shares of any class or classes resulting from any reclassification or
reclassifications thereof and which have no preference in respect of dividends or of amounts
payable in the event of any voluntary or involuntary liquidation, dissolution or winding up of the
Guarantor and which are not subject to redemption by the Guarantor; provided that if at any time
there shall be more than one such resulting class, the shares of each such class then so issuable
on exchange shall be substantially in the proportion which the total number of shares of such class
resulting from all such reclassifications bears to the total number of shares of all such classes
resulting from all such reclassifications.

     “Continuing Director” means a director who either was a member of the Board of Directors on
November 1, 2006 or who becomes a member of the Board of Directors subsequent to that date and
whose election, appointment or nomination for election by the Guarantor’s shareholders, is duly
approved by a majority of the Continuing Directors on the Board of Directors at the time of such
approval, either by a specific vote or by approval of the proxy statement issued by the Issuer on
behalf of the entire Board of Directors in which such individual is named as nominee for director.

     “Corporate Trust Office” or other similar term, means the designated office of the Trustee at
which, at any particular time, its corporate trust business as it relates to this Indenture shall
be administered, which office is, at the date as of which this Indenture is dated, located at
Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890-0001, Attention:
Corporate Capital Markets, or at any other time at such other address as the Trustee may designate
from time to time by notice to the Issuer.

     “CUSIP” means the Committee on Uniform Securities Identification Procedures.

     “Custodian” means Wilmington Trust Company, as custodian with respect to the Notes in global
form, or any successor entity thereto.

     “Daily Exchange Value” means, for each of the 60 consecutive Trading Days during the
Applicable Observation Period, one-sixtieth of the product of (i) the Applicable Exchange Rate and
(ii) the Daily VWAP of shares of Common Stock on such Trading Day.

3

 

     “Daily Settlement Amount” for each of the 60 Trading Days during the Applicable Observation
Period, shall consist of: (i) cash equal to the lesser of (x) one-sixtieth of $1,000 and (y) the
Daily Exchange Value on such Trading Day; and (ii) to the extent the Daily Exchange Value on such
Trading Day exceeds one-sixtieth of $1,000, a number of shares of Common Stock equal to (x) the
difference between the Daily Exchange Value on such Trading Day and one-sixtieth of $1,000, divided
by (y) the Daily VWAP for such Trading Day.

     “Daily VWAP” means, for each of the 60 consecutive Trading Days during the Applicable
Observation Period, the per share volume-weighted average price as displayed under the heading
“Bloomberg VWAP” on Bloomberg page “MPW.N <equity> AQR” (or its equivalent successor if such
page is not available) in respect of the period from the scheduled open of the primary exchange or
market on which the Common Stock is listed or traded to the scheduled close of such exchange or
market on such Trading Day (or if such volume-weighted average price is unavailable, the market
value of one share of Common Stock on such Trading Day determined, using a volume-weighted average
method, by a nationally recognized independent investment banking firm retained for this purpose by
the Issuer). Daily VWAP will be determined without regard to after hours trading or any other
trading outside of the regular trading session hours.

     “default” means any event that is, or after notice or lapse of time or both would become, an
Event of Default.

     “Defaulted Interest” has the meaning specified in Section 2.03.

     “Depositary” means the clearing agency registered under the Exchange Act that is designated to
act as the depositary for the Global Notes. DTC shall be the initial Depositary, until a successor
shall have been appointed and become such pursuant to the applicable provisions of this Indenture,
and thereafter, “Depositary” shall mean or include such successor.

     “Designated Event” means the occurrence at any time of any of the following events: (1)
consummation of any transaction or event (whether by means of a share exchange or tender offer
applicable to the Common Stock, a liquidation, consolidation, recapitalization, reclassification,
combination or merger of the Guarantor or a sale, lease or other transfer of all or substantially
all of the consolidated assets of the Guarantor) or a series of related transactions or events
pursuant to which all of the outstanding Common Stock is exchanged for, converted into or
constitutes solely the right to receive cash, securities or other property, more than ten percent
(10%) of which consists of cash, securities or other property that is not, or will not be upon
consummation of such transaction, listed on a national securities exchange; (2) any “person” or
“group” (as such terms are used for purposes of Sections 13(d) and 14(d) of the Exchange Act,
whether or not applicable), other than the Guarantor, the Issuer, any majority-owned Subsidiary of
the Guarantor or the Issuer, or any employee benefit plan of the Guarantor, the Issuer or any such
Subsidiary, is or becomes the “beneficial owner,” directly or indirectly, of more than fifty
percent (50%) of the total voting power in the aggregate of all classes of capital

4

 

stock of the Guarantor then outstanding and entitled to vote generally in elections of
directors (it being understood and agreed that the ownership of Units will not be deemed to
constitute beneficial ownership of capital stock of the Guarantor); (3) Continuing Directors cease
to constitute at least a majority of the Board of Directors; (4) holders of Common Stock approve
any plan or proposal for liquidation or dissolution of the Issuer or the Guarantor; (5) the Common
Stock has ceased to be listed on a United States national or regional securities exchange for 30
consecutive Trading Days or (6) the Guarantor (or any successor thereto permitted pursuant to the
terms of this Indenture) ceases to control the Issuer; provided, however, that the pro rata
distribution by the Guarantor to its stockholders of shares of the Guarantor’s capital stock or
shares of any of the Guarantor’s Subsidiaries (other than the Issuer) will not, in and of itself,
constitute a Designated Event for purposes of this definition.

     For the purposes of this definition, “person” includes any syndicate or group that would be
deemed to be a “person” under Section 13(d)(3) of the Exchange Act.

     “Designated Event Repurchase Date” has the meaning specified in Section 3.05(a).

     “DTC” means The Depository Trust Company.

     “Effective Date” has the meaning specified in Section 13.11(b).

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

     “ex-dividend date” has the meaning specified in Section 13.01(a)(iv).

     “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and
regulations promulgated thereunder, as in effect from time to time.

     “Exchange Agent” means the exchange agent appointed by the Issuer to act as set forth in
Article 13, which, initially, shall be the Trustee.

     “Exchange Date” has the meaning specified in Section 13.02.

     “Exchange Notice” has the meaning specified in Section 13.02.

     “Exchange Price” means, on any date of determination, $1,000, divided by the Exchange Rate as
of such date.

     “Exchange Rate” has the meaning specified in Section 13.04.

     “Expiration Time” has the meaning specified in Section 13.05(e).

     “Global Note” has the meaning specified in Section 2.02.

5

 

     “Guarantee” means the full and unconditional guarantee provided by the Guarantor in respect of
the Notes as made applicable to the Notes in accordance with the provisions of Article 15 hereof.

     “Guarantee Obligations” has the meaning specified in Section 15.01.

     “Guarantor” means the corporation named as the “Guarantor” in the first paragraph of this
Indenture, and, subject to the provisions of Article 10, shall include its successors and assigns.

     “Indenture” means this instrument as originally executed or, if amended or supplemented as
herein provided, as so amended or supplemented.

     “Initial Notes” has the meaning specified in Section 2.01.

     “Initial Purchasers” means each of UBS Securities LLC, J.P. Morgan Securities Inc., Wachovia
Capital Markets, LLC and Stifel, Nicolaus & Company, Incorporated (each an “Initial Purchaser”).

     “interest” means, when used with reference to the Notes, any interest payable under the terms
of the Notes, including Additional Interest, if any, payable under the terms of the Registration
Rights Agreement.

     “Issuer” means the limited partnership named as the “Issuer” in the first paragraph of this
Indenture, and, subject to the provisions of Article 10, shall include its successors and assigns.

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

     “Issuer Repurchase Notice” has the meaning specified in Section 3.07(b).

     “Issuer Repurchase Notice Date” has the meaning specified in Section 3.07(a).

     “Make Whole Cap” has the meaning specified in Section 13.11(f)(ii).

     “Make Whole Floor” has the meaning specified in Section 13.11(f)(iii).

     “Market Disruption Event” means the occurrence or existence for more than one half-hour period
in the aggregate on any Scheduled Trading Day for the Common Stock of any suspension or limitation
imposed on trading (by reason of movements in price exceeding limits permitted by the New York
Stock Exchange or otherwise) in the Common Stock or in any options, contracts or future contracts
relating to the Common Stock, and such suspension or limitation occurs or exists at any time before
1:00 p.m. (New York City time) on such day.

6

 

     “Maturity Date” means November 15, 2011.

     “Note” or “Notes” means any Note or Notes, as the case may be, authenticated and delivered
under this Indenture, including the Initial Notes, any Additional Notes and any Global Note.

     “Note Register” has the meaning specified in Section 2.05(a).

     “Note Registrar” has the meaning specified in Section 2.05(a).

     “Noteholder” or “Holder” as applied to any Note, or other similar terms (but excluding the
term “beneficial holder”), means any Person in whose name at the time a particular Note is
registered on the Note Register.

     “Offering Memorandum” means the Issuer’s and the Guarantor’s offering memorandum dated
November 1, 2006 relating to the Notes.

     “Officer” means the Chairman of the Board of Directors, the President, one of the Vice
Presidents, the Treasurer, the Assistant Treasurer, the Secretary or an Assistant Secretary of the
Guarantor.

     “Officers’ Certificate,” when used with respect to the Issuer, means a certificate signed by
the Chairman of the Board of Directors, the President or a Vice President and by the Treasurer, the
Chief Financial Officer, an Assistant Treasurer, the Secretary or an Assistant Secretary of the
Guarantor, and delivered to the Trustee.

     “Opinion of Counsel” means a written opinion of counsel, who may be counsel for the Issuer or
who may be an employee of or other counsel for the Issuer, that shall be satisfactory to the
Trustee and delivered to the Trustee.

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

     (a) Notes theretofore canceled by the Trustee or delivered to the Trustee for
cancellation;

     (b) Notes, or portions thereof, for the payment of which (including redemption or
repurchase pursuant to Article 3) money in the necessary amount has been theretofore
deposited with the Trustee or any Paying Agent (other than the Issuer) in trust or set
aside and segregated in trust by the Issuer (if the Issuer shall act as its own Paying
Agent) for the Holders of such Notes; provided however, that, if such Notes are to be
redeemed, notice of such redemption has been duly given pursuant to this Indenture or
provision therefor satisfactory to the Trustee has been made;

     (c) Notes that have been discharged in accordance with Article 11; and

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     (d) Notes that have been paid pursuant to Section 2.06 or in exchange for or in lieu
of which other Notes have been authenticated and delivered pursuant to this Indenture,
other than any such Notes in respect of which there shall have been presented to the
Trustee proof satisfactory to it that such Notes are held by a protected purchaser in whose
hands such Notes are valid obligations of the Issuer;

provided, however, that in determining whether the Holders of the requisite principal amount of the
outstanding Notes have given any request, demand, authorization, direction, notice, consent or
waiver hereunder or are present at a meeting of Holders for quorum purposes, Notes owned by the
Issuer or any other obligor upon the Notes or any Affiliate of the Issuer or of such other obligor
shall be disregarded and deemed not to be outstanding, except that, in determining whether the
Trustee shall be protected in making such calculation or in relying upon any such request, demand,
authorization, direction, notice, consent or waiver, only Notes that a Responsible Officer of the
Trustee actually knows to be so owned shall be so disregarded. Notes that 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 Notes and that the pledgee is not the Issuer or
any other obligor upon the Notes or any Affiliate of the Issuer or of such other obligor. In case
of a dispute as to such right, the advice of counsel shall be full protection in respect of any
decision made by the Trustee in accordance with such advice.

     “Paying Agent” has the meaning specified in Section 2.08.

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

     “PORTAL Market” means The PORTAL Market operated by the Nasdaq Stock Market or any successor
thereto.

     “Predecessor Note” of any particular Note means any previous Note evidencing all or a portion
of the same debt as that evidenced by such particular Note, and, for the purposes of this
definition, any Note authenticated and delivered under Section 2.06 in lieu of a mutilated, lost,
destroyed or stolen Note shall be deemed to evidence the same debt as the mutilated, lost,
destroyed or stolen Note that it replaces.

     “Preferred Stock” means, with respect to any Person, all capital stock issued by such Person
that is entitled to a preference or priority over any other capital stock issued by such Person
with respect to any distribution of such Person’s assets, whether by dividend or upon any voluntary
or involuntary liquidation, dissolution or winding up.

     “premium” means any premium payable under the terms of the Notes.

     “Purchase Agreement” means the Purchase Agreement, dated as of November 1, 2006, among the
Issuer, the Guarantor and the Initial Purchasers.

     “Record Date” has the meaning specified in Section 2.03.

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     “Redemption Date” means, with respect to any Note or portion thereof to be redeemed in
accordance with the provisions of Section 3.01 hereof, the date fixed for such redemption in
accordance with the provisions of Section 3.01 hereof.

     “Redemption Price” has the meaning provided in Section 3.01 hereof.

     “Registration Rights Agreement” means the Registration Rights Agreement, dated as of November
6, 2006, among the Issuer, the Guarantor and the Initial Purchasers, as amended from time to time
in accordance with its terms.

     “Responsible Officer” when used with respect to the Trustee, means the chairman or
vice-chairman of the board of directors, the chairman or vice-chairman of the executive committee
of the board of directors, the president, any vice president (whether or not designated by a number
or a word or words added before or after the title “vice president”), the secretary, any assistant
secretary, the treasurer, any assistant treasurer, the cashier, any assistant cashier, any trust
officer or assistant trust officer, the controller or any other officer in the Corporate Trust
Office of the Trustee with direct responsibility for the administration of this Indenture and also
means, with respect to a particular corporate trust matter, any other officer of the Trustee to
whom such matter is referred because of such officer’s knowledge of and familiarity with the
particular subject.

     “Restricted Securities” has the meaning specified in Section 2.05(c).

     “Rule 144A” means Rule 144A as promulgated under the Securities Act as it may be amended from
time to time hereafter.

     “Scheduled Trading Day” means a day that is scheduled to be a Trading Day.

     “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations
promulgated thereunder, as in effect from time to time.

     “Significant Subsidiary” means any Subsidiary which is a “significant subsidiary” (as defined
in Article I, Rule 1-02 of Regulation S-X, promulgated under the Securities Act) of the Issuer.

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

     “Stock Price” has the meaning specified in Section 13.11(b).

     “Subsidiary” means a Person (other than an individual), a majority of the outstanding voting
stock, partnership interests, membership interests or other equity interest, as the case may be, of
which is owned or controlled, directly or indirectly, by another Person or by one or more other
Subsidiaries of such other Person. For the purposes of this definition, “voting stock” means stock
having voting power for the election of directors, trustees or managers, as the case may be,
whether at all times or

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only so long as no senior class of stock has such voting power by reason of any contingency.

     “Trading Day” means a day on which (i) there is no Market Disruption Event and (ii) trading in
securities generally occurs on the New York Stock Exchange or, if the Common Stock is not then
listed on the New York Stock Exchange, on the principal other United States national or regional
securities exchange on which the Common Stock is then listed or, if the Common Stock is not then
listed on a United States national or regional securities exchange, on the principal other market
on which the Common Stock is then traded; provided, however, that if the Common Stock (or other
security for which a Closing Sale Price must be determined) is not so listed or quoted, “Trading
Day” means a Business Day.

     “Trading Price” has the meaning specified in Section 13.01(a)(ii).

     “transfer” has the meaning specified in Section 2.05(c).

     “Trust Indenture Act” or “TIA” means the Trust Indenture Act of 1939, as amended, as it was in
force at the date of this Indenture; provided that, in the case of a supplemental indenture
executed pursuant to this Indenture, “Trust Indenture Act” or “TIA” means the Trust Indenture Act
of 1939, as amended, as it was in force at the date of such supplemental indenture.

     “Trustee” means Wilmington Trust Company, solely in its capacity as Trustee under this
Indenture and not in its individual capacity, and its successors and any corporation resulting from
or surviving any consolidation or merger to which it or its successors may be a party and any
successor trustee at the time serving as successor trustee hereunder.

     “Units” means the limited partnership units of the Issuer.

ARTICLE 2

Issue, Description, Execution, Registration and Exchange of Notes

     Section 2.01. Designation Amount and Issue of Notes. The Notes shall be designated as
“6.125% Exchangeable Senior Notes due 2011.” Upon the execution of this Indenture, and from time to
time thereafter, Notes may be executed by the Issuer and delivered to the Trustee for
authentication, and the Trustee shall thereupon authenticate and deliver Notes upon a written order
of the Issuer, such order signed by one Officer, without any further action by the Issuer
hereunder.

     The aggregate principal amount of Notes which may be authenticated and delivered under this
Indenture is unlimited; provided that upon initial issuance (including any issuance upon exercise
of the Initial Purchasers’ option set forth in Section 1(b) of the Purchase Agreement), the
aggregate principal amount of Notes outstanding shall not exceed $125,000,000 (or $138,000,000 if
the Initial Purchasers exercise their option to

10

 

purchase additional Notes in full as set forth in the Purchase Agreement), except as provided
in Section 2.06. The Issuer may, without the consent of the Holders of Notes, issue additional
Notes (the “Additional Notes”) from time to time in the future with the same terms and the same
CUSIP number as the Notes originally issued under this Indenture (the “Initial Notes”) in an
unlimited principal amount, provided that such Additional Notes must be part of the same issue as
and fungible with the Initial Notes for United States federal income tax purposes. The Initial
Notes and any such Additional Notes will constitute a single series of debt securities, and in
circumstances in which this Indenture provides for the Holders of Notes to vote or take any action,
the Holders of Initial Notes and the Holders of any such Additional Notes will vote or take that
action as a single class.

     Section 2.02. Form of Notes. The Notes, the Guarantee and the Trustee’s certificate of
authentication to be borne by such Notes shall be substantially in the form set forth in Exhibit A
hereto. The terms and provisions contained in the form of Note attached as Exhibit A hereto shall
constitute, and are hereby expressly made, a part of this Indenture and, to the extent applicable,
the Issuer and the Trustee, by their execution and delivery of this Indenture, expressly agree to
such terms and provisions and to be bound thereby.

     Any of the Notes may have such letters, numbers or other marks of identification and such
notations, legends, endorsements or changes as the officers executing the same may approve
(execution thereof to be conclusive evidence of such approval) and as are not inconsistent with the
provisions of this Indenture, or as may be required by the Custodian, the Depositary or by the
National Association of Securities Dealers, Inc. in order for the Notes to be tradable on The
PORTAL Market or as may be required for the Notes to be tradable on any other market developed for
trading of securities pursuant to Rule 144A or as may be required to comply with any applicable law
or with any rule or regulation made pursuant thereto or with any rule or regulation of any
securities exchange or automated quotation system on which the Notes may be listed, or to conform
to usage, or to indicate any special limitations or restrictions to which any particular Notes are
subject.

     So long as the Notes are eligible for book-entry settlement with the Depositary, or unless
otherwise required by law, or otherwise contemplated by Section 2.05(b), all of the Notes will be
represented by one or more Notes in global form registered in the name of the Depositary or the
nominee of the Depositary (a “Global Note”). The transfer, redemption, repurchase, exchange, and
all dispositions of beneficial interests in any such Global Note shall be effected through the
Depositary in accordance with this Indenture and the applicable procedures of the Depositary.
Except as provided in Section 2.05(b), beneficial owners of a Global Note shall not be entitled to
have certificates registered in their names, will not receive or be entitled to receive physical
delivery of certificates in definitive form and will not be considered Holders of such Global Note.

     Any Global Note shall represent such of the outstanding Notes as shall be specified therein
and shall provide that it shall represent the aggregate amount of outstanding Notes from time to
time endorsed thereon and that the aggregate amount of

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outstanding Notes represented thereby may from time to time be increased or reduced to reflect
redemptions, repurchases, exchanges, or transfers permitted hereby. Any endorsement of a Global
Note to reflect the amount of any increase or decrease in the amount of outstanding Notes
represented thereby shall be made by the Trustee or the Custodian, at the direction of the Trustee,
in such manner and upon instructions given by the Holder of such Notes in accordance with this
Indenture. Payment of principal of, interest on and premium, if any, on any Global Note shall be
made to the Holder of such Note.

     So long as any Notes are represented by one or more Global Notes, the parties hereto will be
bound at all times by the applicable procedures of the Depositary with respect to such Notes.

     Section 2.03. Date and Denomination of Notes; Payments of Interest. The Notes shall be
issuable in registered form without coupons in minimum denominations of $1,000 principal amount and
in integral multiples of $1,000 in excess thereof. Each Note shall be dated the date of its
authentication and shall bear interest from the date specified on the face of the Note. Interest on
the Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months.

     The Person in whose name any Note is registered on the Note Register at the close of business
on any Record Date with respect to any interest payment date shall be entitled to receive the
interest payable on such interest payment date. Notwithstanding the foregoing, any Note or portion
thereof surrendered for exchange during the period from the close of business on the Record Date
for any interest payment to the close of business on the applicable interest payment date must be
accompanied by payment, in immediately available funds or other funds acceptable to the Issuer, of
an amount equal to the interest otherwise payable on such interest payment date on the principal
amount being exchanged; provided, however, that no such payment need be made (1) if a Holder
exchanges its Notes as permitted by Section 13.01(a)(iii) and the Issuer has specified a Redemption
Date that is after a Record Date and on or prior to the Business Day immediately succeeding the
corresponding interest payment date, (2) if a Holder exchanges its Notes in connection with a
Designated Event and the Issuer has specified a Designated Event Repurchase Date that is after a
Record Date and on or prior to the Business Day immediately succeeding the corresponding interest
payment date, (3) with respect to any exchange on or following the Record Date immediately
preceding the Maturity Date, or (4) to the extent of any Defaulted Interest, if any Defaulted
Interest exists at the time of exchange with respect to such Note. Interest on any Global Note
shall be paid by wire transfer of immediately available funds to the account of the Depositary or
its nominee. Payment of the principal and interest on the Notes not represented by a Global Note
will be made at the Corporate Trust Office, or the office maintained for that purpose by the Issuer
in the Borough of Manhattan, The City of New York, New York, in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of public and private
debts; provided, however, that at the option of the Issuer, payments of interest on the Notes may
be made (i) by check mailed to the address of the Person entitled thereto as such address shall
appear in

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the Note Register or (ii) by wire transfer to an account maintained by the Person entitled
thereto located within the United States.

     If a payment date is not a Business Day, payment shall be made on the next succeeding Business
Day, and no additional interest shall accrue thereon. The term “Record Date” with respect to any
interest payment date shall mean the May 1 or November 1 preceding the applicable May 15 or
November 15 interest payment date, respectively.

     Any interest on any Note that is payable, but is not punctually paid or duly provided for, on
any May 15 or November 15 (herein called “Defaulted Interest”) shall forthwith cease to be payable
to the Noteholder registered as such on the relevant Record Date, and such Defaulted Interest shall
be paid by the Issuer, at its election in each case, as provided in clause (a) or (b) below:

     (a) The Issuer may elect to make payment of any Defaulted Interest to the Persons in whose
names the Notes are registered at the close of business on a special record date for the payment of
such Defaulted Interest, which shall be fixed in the following manner. The Issuer shall notify the
Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note and the
date of the proposed payment (which shall be not less than twenty (20) calendar days after the
receipt by the Trustee of such notice, unless the Trustee shall consent to an earlier date), and at
the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate
amount to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to
the Trustee for such deposit on or 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 fifteen (15) calendar days and not less than
ten (10) calendar days prior to the date of the proposed payment, and not less than ten (10)
calendar days after the receipt by the Trustee of the notice of the proposed payment (unless, the
Trustee shall consent to an earlier date). The Trustee shall promptly notify the Issuer of such
special record date and, in the name and at the expense of the Issuer, shall cause notice of the
proposed payment of such Defaulted Interest and the special record date therefor to be mailed,
first-class postage prepaid, to each Holder at its address as it appears in the Note Register, not
less than ten (10) calendar days prior to such special record date (unless, the Trustee shall
consent to an earlier date). Notice of the proposed payment of such Defaulted Interest and the
special record date therefor having been so mailed, such Defaulted Interest shall be paid to the
Persons in whose names the Notes are registered at the close of business on such special record
date and shall no longer be payable pursuant to the following clause (b) of this Section 2.03.

     (b) The Issuer may make payment of any Defaulted Interest in any other lawful manner not
inconsistent with the requirements of any securities exchange or automated quotation system on
which the Notes may be listed or designated for issuance, and upon such notice as may be required
by such exchange or automated quotation system, if, after

13

 

notice given by the Issuer to the Trustee of the proposed payment pursuant to this clause,
such manner of payment shall be deemed practicable by the Trustee.

      Section 2.04 . Execution of Notes. The Notes shall be signed in the name and on behalf of
the Issuer by the manual or facsimile signature of an Officer. Only such Notes as shall bear
thereon a certificate of authentication substantially in the form set forth on the form of Note
attached as Exhibit A hereto, executed manually or by facsimile by the Trustee (or an
authenticating agent appointed by the Trustee as provided by Section 7.11), shall be entitled to
the benefits of this Indenture or be valid or obligatory for any purpose. Such certificate by the
Trustee (or such an authenticating agent) upon any Note executed by the Issuer shall be conclusive
evidence that the Note so authenticated has been duly authenticated and delivered hereunder and
that the Holder is entitled to the benefits of this Indenture.

     In case any Officer who shall have signed any of the Notes shall cease to be such Officer
before the Notes so signed shall have been authenticated and delivered by the Trustee, or disposed
of by the Issuer, such Notes nevertheless may be authenticated and delivered or disposed of as
though the person who signed such Notes had not ceased to be such Officer, and any Note may be
signed on behalf of the Issuer by such persons as, at the actual date of the execution of such
Note, shall be the proper Officers, although at the date of the execution of this Indenture any
such person was not such an Officer.

      Section 2.05 . Exchange and Registration of Transfer of Notes; Restrictions on Transfer. (a)
The Trustee shall cause to be kept at the Corporate Trust Office a register (the register
maintained in such office and in any office or agency of the Issuer designated pursuant to Section
4.02 being herein sometimes collectively referred to as the “Note Register”) in which, subject to
such reasonable regulations as it may prescribe, the Trustee shall provide for the registration of
Notes and of transfers and exchanges of Notes. The Note Register shall be in written form or in any
form capable of being exchanged into written form within a reasonably prompt period of time. The
Trustee is hereby appointed “Note Registrar” for the purpose of registering Notes and transfers and
exchanges of Notes as herein provided. The Issuer may appoint one or more co-registrars in
accordance with Section 4.02.

     Upon surrender for registration of transfer of any Note to the Note Registrar or any office or
agency maintained by the Issuer pursuant to Section 4.02, and satisfaction of the requirements for
such transfer set forth in this Section 2.05, the Issuer shall execute, and upon receipt thereof
the Trustee shall authenticate and deliver, in the name of the designated transferee or
transferees, one or more new Notes of any authorized denominations and of a like aggregate
principal amount and bearing such restrictive legends as may be required by this Indenture.

     Notes may be exchanged for other Notes of any authorized denominations and of a like aggregate
principal amount, upon surrender of the Notes to be exchanged at the Corporate Trust Office or any
such office or agency maintained by the Issuer pursuant to Section 4.02. Whenever any Notes are so
surrendered for exchange, the Issuer shall execute, and upon receipt thereof the Trustee shall
authenticate and deliver, the Notes

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which the Noteholder making the exchange is entitled to receive bearing registration numbers
not contemporaneously outstanding.

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

     All Notes presented or surrendered for registration of transfer or for exchange, redemption,
or repurchase shall (if so required by the Issuer or the Note Registrar) be duly endorsed, or be
accompanied by a written instrument or instruments of transfer in form satisfactory to the Issuer
and the Note Registrar, duly executed by the Noteholder thereof or its attorney duly authorized in
writing.

     No service charge shall be made to any Holder for any registration of transfer or exchange of
Notes, but the Issuer may require payment by the Holder of a sum sufficient to cover any transfer
or similar tax that may be imposed in connection with any registration of transfer or exchange of
Notes.

     In the event of any redemption in part, the Issuer shall not be required to: (i) issue or
register the transfer or exchange of any Note during a period beginning at the opening of business
15 days before any selection of Notes for redemption and ending at the close of business on the
earliest date on which the relevant notice of redemption is deemed to have been given to all
Holders of Notes to be so redeemed, or (ii) register the transfer or exchange of any Note so
selected for redemption, in whole or in part, except the unredeemed portion of any Note being
redeemed in part.

(b) The following provisions shall apply only to Global Notes:

          (i) Each Global Note authenticated under this Indenture shall be registered in the
name of the Depositary or a nominee thereof and delivered to such Depositary or a nominee
thereof or Custodian therefor, and each such Global Note shall constitute a single Note for
all purposes of this Indenture.

          (ii) Notwithstanding any other provision in this Indenture, no Global Note may be
exchanged in whole or in part for Notes registered, and no transfer of a Global Note in
whole or in part may be registered, in the name of any Person other than the Depositary or
a nominee thereof unless (1) the Depositary (x) has notified the Issuer that it is
unwilling or unable to continue as Depositary for such Global Note or (y) has ceased to be
a clearing agency registered under the Exchange Act, and a successor depositary has not
been appointed by the Issuer within ninety (90) calendar days or (2) an Event of Default
has occurred and is continuing. Any Global Note exchanged pursuant to clause (1) or (2)
above shall be so exchanged in whole and not in part. Any Note issued in exchange for a
Global Note or any portion thereof shall be a Global Note; provided that any such Note so
issued that is registered in the name of a Person other than the Depositary or a nominee
thereof shall not be a Global Note.

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          (iii) Notes issued in exchange for a Global Note or any portion thereof pursuant to
clause (ii) above shall be issued in definitive, fully registered form, without interest
coupons, shall have an aggregate principal amount equal to that of such Global Note or
portion thereof to be so exchanged, shall be registered in such names and be in such
authorized denominations as the Depositary shall designate and shall bear any legends
required hereunder. Any Global Note to be exchanged in whole shall be surrendered by the
Depositary to the Trustee, as Note Registrar. With regard to any Global Note to be
exchanged in part, either such Global Note shall be so surrendered for exchange or, if the
Trustee is acting as Custodian for the Depositary or its nominee with respect to such
Global Note, the principal amount thereof shall be reduced, by an amount equal to the
portion thereof to be so exchanged, by means of an appropriate adjustment made on the
records of the Trustee. Upon any such surrender or adjustment, the Trustee shall
authenticate and make available for delivery the Note issuable on such exchange to or upon
the written order of the Depositary or an authorized representative thereof.

          (iv) In the event of the occurrence of any of the events specified in clause (ii)
above, the Issuer will promptly make available to the Trustee a reasonable supply of
certificated Notes in definitive, fully registered form, without interest coupons.

          (v) Neither any members of, or participants in, the Depositary (“Agent Members”) nor
any other Persons on whose behalf Agent Members may act shall have any rights under this
Indenture with respect to any Global Note registered in the name of the Depositary or any
nominee thereof, and the Depositary or such nominee, as the case may be, may be treated by
the Issuer, the Trustee and any agent of the Issuer or the Trustee as the absolute owner
and Holder of such Global Note for all purposes whatsoever. Notwithstanding the foregoing,
nothing herein shall prevent the Issuer, the Trustee or any agent of the Issuer or the
Trustee from giving effect to any written certification, proxy or other authorization
furnished by the Depositary or such nominee, as the case may be, or impair, as between the
Depositary, its Agent Members and any other Person on whose behalf an Agent Member may act,
the operation of customary practices of such Persons governing the exercise of the rights
of a Holder of any Note.

          (vi) At such time as all interests in a Global Note have been redeemed, repurchased,
exchanged, or canceled for Notes in certificated form, such Global Note shall, upon receipt
thereof, be canceled by the Trustee in accordance with standing procedures and instructions
existing between the Depositary and the Custodian. At any time prior to such cancellation,
if any interest in a Global Note is redeemed, repurchased, exchanged, or canceled for Notes
in certificated form, the principal amount of such Global Note shall, in accordance with
the standing procedures and instructions existing between the Depositary and the Custodian,
be appropriately reduced, and an endorsement shall be made on such Global Note, by the
Trustee or the Custodian, at the direction of the Trustee, to reflect such reduction.

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     (c) Every Note (and all securities issued in exchange therefor or in substitution thereof)
that bears or is required under this Section 2.05(c) to bear the legend set forth in this Section
2.05(c) (the “Restricted Notes Legend”), and any Common Stock that bears or is required under this
Section 2.05(c) to bear the Common Stock legend set forth in this Section 2.05(c) (the “Common
Stock Legend”) (collectively, the “Restricted Securities”) shall be subject to the restrictions on
transfer set forth in this Section 2.05(c) (including those set forth in the legends below) unless
such restrictions on transfer shall be waived by written consent of the Issuer, and the Holder of
each such Restricted Security, by such Holder’s acceptance thereof, agrees to be bound by all such
restrictions on transfer. As used in this Section 2.05(c), the term “transfer” means any sale,
pledge, loan, transfer or other disposition whatsoever of any Restricted Security or any interest
therein.

     Until the Maturity Date for the Notes any certificate evidencing a Restricted Security shall
bear a legend in substantially the following form, or unless otherwise agreed by the Issuer in
writing, with written notice thereof to the Trustee:

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), AND ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT AS SET
FORTH IN THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF, THE HOLDER AGREES THAT IT WILL
NOT RESELL OR OTHERWISE TRANSFER THE SECURITY EVIDENCED HEREBY, EXCEPT (A) TO THE ISSUER,
MEDICAL PROPERTIES TRUST, INC. OR A SUBSIDIARY OF THE ISSUER; OR (B) TO A PERSON THE SELLER
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A ADOPTED
UNDER THE SECURITIES ACT) THAT IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF
ANOTHER QUALIFIED INSTITUTIONAL BUYER AND TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS
BEING MADE IN RELIANCE ON RULE 144A, ALL IN COMPLIANCE WITH RULE 144A (IF AVAILABLE).

     Until the expiration of the holding period applicable to sales thereof under Rule 144(k) under
the Securities Act (or any successor provision), any stock certificate representing shares of
Common Stock issued upon exchange of any Note shall bear a Common Stock Legend unless such Common
Stock has been sold pursuant to a registration statement that has been declared effective under the
Securities Act (and that continues to be effective at the time of such transfer) or pursuant to
Rule 144 under the Securities Act or any similar provision then in force, or unless otherwise
agreed by the Issuer in writing, with written notice thereof to the Trustee:

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), AND ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT AS SET
FORTH IN THE FOLLOWING SENTENCE.

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BY ITS ACQUISITION HEREOF, THE HOLDER AGREES (1) THAT IT WILL NOT RESELL OR OTHERWISE
TRANSFER THE SECURITY EVIDENCED HEREBY, EXCEPT (A) TO THE ISSUER OR A SUBSIDIARY OF THE
ISSUER; (B) UNDER A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE
SECURITIES ACT; (C) TO A PERSON THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL
BUYER (AS DEFINED IN RULE 144A ADOPTED UNDER THE SECURITIES ACT) THAT IS PURCHASING FOR ITS
OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER AND TO WHOM NOTICE
IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, ALL IN COMPLIANCE WITH
RULE 144A (IF AVAILABLE); OR (D) UNDER ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT; AND (2) THAT IT WILL, PRIOR TO ANY TRANSFER OF THIS
SECURITY, FURNISH TO THE TRANSFER AGENT AND THE ISSUER SUCH CERTIFICATIONS, LEGAL OPINIONS
OR OTHER INFORMATION AS MAY BE REQUIRED TO CONFIRM THAT SUCH TRANSFER IS BEING MADE
PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT.

     Any such shares of Common Stock as to which such restrictions on transfer shall have expired
in accordance with their terms or as to which the conditions for removal of the Common Stock Legend
set forth therein have been satisfied may, upon surrender of the certificates representing such
shares of Common Stock for exchange in accordance with the procedures of the transfer agent for the
Common Stock, be exchanged for a new certificate or certificates for a like number of shares of
Common Stock, which shall not bear the Common Stock Legend required by this Section 2.05(c).

     (d) By its acceptance of any Note bearing the Restricted Notes Legend, each Holder of such
Note acknowledges the restrictions on transfer of such Note set forth in this Indenture and in the
Restricted Notes Legend and agrees that it will transfer such Note only as provided in this
Indenture and as permitted by applicable law.

     (e) Any Restricted Securities purchased or owned by the Issuer or any Affiliate thereof may
not be resold by the Issuer or such Affiliate unless registered under the Securities Act or resold
pursuant to an exemption from the registration requirements of the Securities Act in a transaction
which results in such Notes or Common Stock, as the case may be, no longer being “restricted
securities” (as defined under Rule 144).

     (f) The Trustee shall have no responsibility or obligation to any Agent Members or any other
Person with respect to the accuracy of the books or records, or the acts or omissions, of the
Depositary or its nominee or of any participant or member thereof, with respect to any ownership
interest in the Notes or with respect to the delivery to any Agent Member or other Person (other
than the Depositary) of any notice (including any notice of redemption) or the payment of any
amount, under or with respect

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to such Notes. All notices and communications to be given to the Noteholders and all payments
to be made to Noteholders under the Notes shall be given or made only to or upon the order of the
registered Noteholders (which shall be the Depositary or its nominee in the case of a Global Note).
The rights of beneficial owners in any Global Note shall be exercised only through the Depositary
subject to the customary procedures of the Depositary. The Trustee may rely and shall be fully
protected in relying upon information furnished by the Depositary with respect to its Agent
Members.

     The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance
with any restrictions on transfer imposed under this Indenture or under applicable law with respect
to any transfer of any interest in any Note (including any transfers between or among Agent Members
in any Global Note) other than to require delivery of such certificates and other documentation or
evidence as are expressly required by, and to do so if and when expressly required by, the terms of
this Indenture, and to examine the same to determine substantial compliance as to form with the
express requirements hereof.

      Section 2.06 . Mutilated, Destroyed, Lost or Stolen Notes. In case any Note shall become
mutilated or be destroyed, lost or stolen, the Issuer in its discretion may execute, and upon its
written request and receipt of such new Note the Trustee or an authenticating agent appointed by
the Trustee shall authenticate and make available for delivery, a new Note, bearing a number not
contemporaneously outstanding, in exchange and substitution for the mutilated Note, or in lieu of
and in substitution for the Note so destroyed, lost or stolen. In every case, the applicant for a
substituted Note shall furnish to the Issuer, to the Trustee and, if applicable, to such
authenticating agent such security or indemnity as may be required by them to save each of them
harmless for any loss, liability, cost or expense caused by or connected with such substitution,
and, in every case of destruction, loss or theft, the applicant shall also furnish to the Issuer,
to the Trustee and, if applicable, to such authenticating agent evidence to their satisfaction of
the destruction, loss or theft of such Note and of the ownership thereof.

     Following receipt by the Trustee or such authenticating agent, as the case may be, of
satisfactory security or indemnity and evidence, as described in the preceding paragraph, the
Trustee or such authenticating agent may authenticate any such substituted Note and make available
for delivery such Note. Upon the issuance of any substituted Note, the Issuer may require the
payment by the Holder of a sum sufficient to cover any tax, assessment or other governmental charge
that may be imposed in relation thereto and any other expenses connected therewith. In case any
Note which has matured or is about to mature or has been called for redemption or has been properly
tendered for repurchase on a Designated Event Repurchase Date (and not withdrawn) or is to be
exchanged pursuant to this Indenture, shall become mutilated or be destroyed, lost or stolen, the
Issuer may, instead of issuing a substitute Note, pay or authorize the payment of or exchange or
authorize the exchange of the same (without surrender thereof except in the case of a mutilated
Note), as the case may be, if the applicant for such payment or exchange shall furnish to the
Issuer, to the Trustee and, if applicable, to such authenticating agent such security or indemnity
as may be required by them to save each of them harmless for any loss, liability, cost or expense
caused by or in connection with

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such substitution, and, in every case of destruction, loss or theft, the applicant shall also
furnish to the Issuer, the Trustee and, if applicable, any Paying Agent or Exchange Agent evidence
to their satisfaction of the destruction, loss or theft of such Note and of the ownership thereof.

     Every substitute Note issued pursuant to the provisions of this Section 2.06 by virtue of the
fact that any Note is mutilated, destroyed, lost or stolen shall constitute an additional
contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Note
shall be found at any time, and shall be entitled to all the benefits of (but shall be subject to
all the limitations set forth in) this Indenture equally and proportionately with any and all other
Notes duly issued hereunder. To the extent permitted by law, all Notes shall be held and owned upon
the express condition that the foregoing provisions are exclusive with respect to the replacement
or payment or exchange or redemption or repurchase of mutilated, destroyed, lost or stolen Notes
and shall preclude any and all other rights or remedies notwithstanding any law or statute existing
or hereafter enacted to the contrary with respect to the replacement or payment or exchange or
redemption or repurchase of negotiable instruments or other securities without their surrender.

     Section 2.07 . Temporary Notes. Pending the preparation of Notes in certificated form, the
Issuer may execute and the Trustee or an authenticating agent appointed by the Trustee shall, upon
the written request of the Issuer, authenticate and deliver temporary Notes (printed or
lithographed). Temporary Notes shall be issuable in any authorized denomination, and substantially
in the form of the Notes in certificated form, but with such omissions, insertions and variations
as may be appropriate for temporary Notes, all as may be determined by the Issuer. Every such
temporary Note shall be executed by the Issuer and upon the written request of the Issuer
authenticated by the Trustee or such authenticating agent upon the same conditions and in
substantially the same manner, and with the same effect, as the Notes in certificated form. Without
unreasonable delay, the Issuer will execute and deliver to the Trustee or such authenticating agent
Notes in certificated form and thereupon any or all temporary Notes may be surrendered in exchange
therefor, at each office or agency maintained by the Issuer pursuant to Section 4.02 and, upon
receipt of the Certificated Notes, the Trustee or such authenticating agent shall authenticate and
make available for delivery in exchange for such temporary Notes an equal aggregate principal
amount of Notes in certificated form. Such exchange shall be made by the Issuer at its own expense
and without any charge therefor. Until so exchanged, the temporary Notes shall in all respects be
entitled to the same benefits and subject to the same limitations under this Indenture as Notes in
certificated form authenticated and delivered hereunder.

     Section 2.08 . Cancellation of Notes. All Notes surrendered for the purpose of payment,
redemption, repurchase, exchange or registration of transfer shall, if surrendered to the Issuer or
any paying agent to whom Notes may be presented for payment (the “Paying Agent”) or Exchange Agent,
which shall initially be the Trustee, be surrendered to the Trustee and promptly canceled by it or,
if surrendered to the Trustee, shall be promptly canceled by it and no Notes shall be issued in
lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee
shall dispose

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of such canceled Notes in accordance with its customary procedures. If the Issuer shall
acquire any of the Notes, such acquisition shall not operate as a redemption, repurchase or
satisfaction of the indebtedness represented by such Notes unless and until the same are delivered
to the Trustee for cancellation.

     Section 2.09 . CUSIP Numbers. The Issuer in issuing the Notes 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 Noteholders; provided that any such notice may state that no representation is
made as to the correctness of such numbers either as printed on the Notes or as contained in any
notice of a redemption and that reliance may be placed only on the other identification numbers
printed on the Notes, and any such redemption shall not be affected by any defect in or omission of
such numbers. The Issuer will promptly notify the Trustee of any change in the “CUSIP” numbers.

ARTICLE 3

Redemption and Repurchase of Notes

     Section 3.01 . Redemption of Notes. (a) The Issuer shall have the right to redeem the Notes
for cash, in whole or in part, if the Issuer determines it is necessary to redeem the Notes in
order to preserve the Guarantor’s status as a real estate investment trust, upon the notice set
forth in Section 3.02 at a redemption price (“Redemption Price”) equal to 100% of the principal
amount of the Notes to be redeemed plus unpaid interest, if any, accrued thereon to, but excluding,
the Redemption Date; provided, however that if the Redemption Date falls after a Record Date and on
or prior to the corresponding interest payment date, the Issuer will pay the full amount of accrued
and unpaid interest, if any, on such interest payment date to the Holder of record at the close of
business on the corresponding Record Date (instead of the Holder surrendering its Notes for
redemption) and the Redemption Price shall be equal to 100% of the principal amount of the Notes to
be redeemed. In connection with any redemption by the Issuer pursuant to this Section 3.01(a),
the Issuer shall provide the Trustee with an Officers’ Certificate evidencing that the Board of
Directors has, in good faith, made the determination that it is necessary to redeem the Notes in
order to preserve the Guarantor’s status as a real estate investment trust.

     (b) The Issuer shall not redeem the Notes pursuant to Section 3.01(a) on any date if the
principal amount of the Notes has been accelerated, and such an acceleration has not been rescinded
or cured on or prior to such date (except in the case of an acceleration resulting from a default
by the Issuer in the payment of the Redemption Price with respect to the Notes to be redeemed).

     Section 3.02 . Notice of Optional Redemption; Selection of Notes. In case the Issuer shall
desire to exercise the right to redeem all or, as the case may be, any part of the Notes pursuant
to Section 3.01, it shall fix a date for redemption and it or, at its written request received by
the Trustee not fewer than five (5) Business Days prior (or such shorter period of time as may be
acceptable to the Trustee) to the date the notice of

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redemption is to be mailed, the Trustee in the name of and at the expense of the Issuer, shall
mail or cause to be mailed a notice of such redemption not fewer than thirty (30) calendar days nor
more than sixty (60) calendar days prior to the Redemption Date to each Holder of Notes so to be
redeemed in whole or in part at its last address as the same appears on the Note Register; provided
that if the Issuer makes such request of the Trustee, it shall, together with such request, also
give written notice of the Redemption Date to the Trustee; provided further that the text of the
notice shall be prepared by the Issuer, and the Trustee may rely and shall be fully protected in
relying upon such text prepared by the Issuer.

     Each such notice of redemption shall specify: (i) the aggregate principal amount of Notes to
be redeemed, (ii) the CUSIP number or numbers of the Notes being redeemed, (iii) the Redemption
Date (which shall be a Business Day), (iv) the Redemption Price at which Notes are to be redeemed,
(v) the place or places of payment and that payment will be made upon presentation and surrender of
such Notes, (iv) that interest accrued and unpaid to, but excluding, the Redemption Date will be
paid as specified in said notice, and that on and after said date interest thereon or on the
portion thereof to be redeemed will cease to accrue, (vii) that the Holder has a right to exchange
the Notes called for redemption, (viii) the Exchange Rate on the date of such notice and (ix) the
time and date on which the right to exchange such Notes or portions thereof pursuant to this
Indenture will expire. If fewer than all the Notes are to be redeemed, the notice of redemption
shall identify the Notes to be redeemed (including CUSIP numbers, if any). In case any Note is to
be redeemed in part only, the notice of redemption shall state the portion of the principal amount
thereof to be redeemed and shall state that, on and after the Redemption Date, upon surrender of
such Note, a new Note or Notes in principal amount equal to the unredeemed portion thereof will be
issued.

     Without limiting the generality of the foregoing, whenever any Notes are to be redeemed, the
Issuer will give the Trustee written notice of the Redemption Date, together with an Officers’
Certificate as to the aggregate principal amount of Notes to be redeemed, not fewer than thirty
(30) calendar days (or such shorter period of time as may be acceptable to the Trustee) prior to
the Redemption Date.

     On or prior to the Redemption Date specified in the notice of redemption given as provided in
this Section 3.02, the Issuer will deposit with the Paying Agent (or, if the Issuer is acting as
its own Paying Agent, set aside, segregate and hold in trust as provided in Section 4.04) an
amount of money in immediately available funds sufficient to redeem on the Redemption Date all the
Notes (or portions thereof) so called for redemption (other than those theretofore surrendered for
exchange) at the appropriate Redemption Price; provided that if such payment is made on the
Redemption Date, it must be received by the Paying Agent by 11:00 a.m., New York City time, on such
date. The Issuer shall be entitled to retain any interest, yield or gain on amounts deposited with
the Paying Agent pursuant to this Section 3.02 in excess of amounts required hereunder to pay the
Redemption Price. If any Note called for redemption is exchanged pursuant hereto prior to such
Redemption Date, any money deposited with the Paying Agent or so segregated and held in trust for
the redemption of such Note shall be paid to the Issuer or, if then held by the Issuer, shall be
discharged from such trust.

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     If less than all of the outstanding Notes are to be redeemed, the Trustee as instructed in an
Issuer Order shall select the Notes or portions thereof of the Global Note or the Notes in
certificated form to be redeemed (in principal amounts of $1,000 and integral multiples thereof) on
a pro rata basis or by another method that the Trustee deems fair and appropriate or that is
required by the Depositary. If any Note selected for redemption is submitted for exchange in part
after such selection, the portion of such Note submitted for exchange shall be deemed (so far as
may be possible) to be the portion to be selected for redemption. The Notes (or portions thereof)
so selected for redemption shall be deemed duly selected for redemption for all purposes hereof,
notwithstanding that any such Note is submitted for exchange in part before the mailing of the
notice of redemption.

     Upon any redemption of less than all of the outstanding Notes, the Issuer and the Trustee may
(but need not), solely for purposes of determining the pro rata allocation among such Notes that
are unexchanged and outstanding at the time of redemption, treat as outstanding any Notes
surrendered for exchange during the period of fifteen (15) calendar days preceding the mailing of a
notice of redemption and may (but need not) treat as outstanding any Note authenticated and
delivered during such period in exchange for the unexchanged portion of any Note exchanged in part
during such period.

     Section 3.03 . Payment of Notes Called for Redemption by the Issuer. If notice of redemption
has been given as provided in Section 3.02, the Notes or portions of Notes with respect to which
such notice has been given shall, unless exchanged pursuant to the terms hereof, become due and
payable on the Redemption Date and at the place or places stated in such notice at the Redemption
Price, and unless the Issuer shall default in the payment of the Redemption Price, (a) such Notes
will cease to be outstanding and (b) interest on the Notes or portions of Notes so called for
redemption shall cease to accrue on and after the Redemption Date, and all rights of Holders of
such Notes will terminate except the right to receive the Redemption Price (or if the Notes have
been surrendered for exchange, the cash and, if applicable, shares of Common Stock due upon such
exchange) and, after the close of business on the second Business Day immediately preceding the
Redemption Date (unless the Issuer shall default in the payment of the Redemption Price) such Notes
shall cease to be exchangeable pursuant to this Indenture and, except as provided in Section
11.02, to be entitled to any benefit or security under this Indenture, and the Holders thereof
shall have no right in respect of such Notes except the right to receive the Redemption Price
thereof or, if the Notes have been tendered for exchange, the cash and, if applicable, shares of
Common Stock due upon such exchange. On presentation and surrender of such Notes at place of
payment in said notice specified, such Notes or the specified portions thereof shall be paid and
redeemed by the Issuer at the Redemption Price, together with interest accrued thereon to, but
excluding, the Redemption Date.

     Upon presentation of any Note redeemed in part only, the Issuer shall execute and upon receipt
of such new Note the Trustee shall authenticate and make available for delivery to the Holder
thereof, at the expense of the Issuer, a new Note or Notes, of authorized denominations, in
principal amount equal to the unredeemed portion of the Notes so presented.

23

 

     Section 3.04 . Sinking Fund. There shall be no sinking fund provided for the Notes.

     Section 3.05 . Repurchase at Option of Holders Upon a Designated Event. (a) If there shall
occur a Designated Event at any time prior to the Maturity Date, then each Noteholder shall have
the right, at such Holder’s option, to require the Issuer to repurchase all of such Holder’s Notes,
or any portion thereof that is a multiple of $1,000 principal amount, in cash, on a date (the
“Designated Event Repurchase Date”) specified by the Issuer, which may be no earlier than fifteen
(15) days and no later than thirty (30) days after the date of the Issuer Repurchase Notice related
to such Designated Event, at a repurchase price equal to 100% of the principal amount of the Notes
being repurchased, plus accrued and unpaid interest to, but excluding, the Designated Event
Repurchase Date; provided, however, that if the Designated Event Repurchase Date falls after a
Record Date and on or prior to the corresponding interest payment date, the Issuer shall pay the
full amount of accrued and unpaid interest, if any, on such interest payment date to the Holder of
record at the close of business on the corresponding Record Date, and the repurchase price will be
100% of the principal amount of the Notes to be repurchased.

     (b) On or before the tenth calendar day after the occurrence of a Designated Event, the Issuer
shall give or cause to be given to all Holders of record on the date of the Designated Event (and
to beneficial owners as required by applicable law) an Issuer Repurchase Notice as set forth in
Section 3.07 with respect to such Designated Event. The Issuer shall also deliver a copy of the
Issuer Repurchase Notice to the Trustee and the Paying Agent at such time as it is given to
Noteholders. In addition to the giving of such Issuer Repurchase Notice, the Issuer shall
disseminate a press release through Dow Jones & Company, Inc. or Bloomberg Business News announcing
the occurrence of such Designated Event or publish such information in The Wall Street Journal or
another newspaper of general circulation in The City of New York or on the Guarantor’s website, or
through such other public medium as the Issuer shall deem appropriate at such time.

     No failure of the Issuer to give the foregoing notices and no defect therein shall limit the
Noteholders’ repurchase rights or affect the validity of the proceedings for the repurchase of the
Notes pursuant to this Section 3.05.

     (c) For a Note to be repurchased at the option of the Holder pursuant to this Section
3.05(c), the Holder must deliver to the Paying Agent, prior to the close of business on the second
Business Day immediately prior to the Designated Event Repurchase Date, (i) a written notice of
repurchase (the “Designated Event Repurchase Notice”) in the form set forth on the reverse of the
Note duly completed specifying (A) (if the Note is certificated) the certificate number of the Note
that the Holder will deliver to be repurchased or (if the Note is represented by a Global Note)
that the relevant Designated Event Repurchase Notice complies with the appropriate Depositary
procedures, (B) the portion of the principal amount of the Note which the Holder will deliver to be
repurchased, which portion must be in principal amounts of $1,000 or an integral multiple of $1,000
(provided that the remaining principal amount of Notes not subject to repurchase must be in an
authorized denomination) and (C) that such Note

24

 

shall be repurchased as of the Designated Event Repurchase Date pursuant to the terms and
conditions specified in the Note and in this Indenture; together with (ii) such Notes duly endorsed
for transfer (if the Note if certificated) or book-entry transfer of such Note (if such Note is
represented by a Global Note). The delivery of such Note to the Paying Agent with, or at any time
after delivery of, the Designated Event Repurchase Notice (together with all necessary
endorsements) at the office of the Paying Agent shall be a condition to the receipt by the Holder
of the repurchase price therefore; provided, however, that such repurchase price shall be so paid
pursuant to this Section 3.05 only if the Notes so delivered to the Paying Agent shall conform in
all respects to the description thereof in the Designated Event Repurchase Notice. All questions as
to the validity, eligibility (including time of receipt) and acceptance of any Note for repurchase
shall be determined by the Issuer, whose determination shall be final and binding absent manifest
error, and the Trustee may rely and shall be fully protected in relying on such determination by
the Issuer.

     (d) The Issuer, if so requested, shall repurchase from the Holder thereof, pursuant to this
Section 3.05, a portion of a Note, if the principal amount of such portion is $1,000 or an
integral multiple of $1,000. Provisions of this Indenture that apply to the repurchase of all of a
Note also apply to the repurchase of such portion of such Note.

     (e) Notwithstanding the foregoing, no Notes may be repurchased by the Issuer pursuant to this
Section 3.05 if the principal amount of the Notes has been accelerated, and such acceleration has
not been rescinded or cured, on or prior to the relevant Repurchase Date (except in the case of an
acceleration resulting from a default by the Issuer in the payment of the repurchase price pursuant
to this Section 3.05 with respect to the Notes to be repurchased).

     (f) The Paying Agent shall promptly notify the Issuer of the receipt by it of any Designated
Event Repurchase Notice or written notice of withdrawal thereof.

     Any repurchase by the Issuer contemplated pursuant to the provisions of this Section 3.05
shall be consummated by the delivery of the consideration to be received by the Holder on the later
of (x) two (2) Business Days following the time of book-entry transfer or delivery of such Note to
the Paying Agent by the Holder thereof in the manner required by this Section 3.05 and (y) the
Designated Event Repurchase Date with respect to such Note (provided the Holder has satisfied the
conditions in this Section 3.05). Payment of the repurchase price on the Designated Event
Repurchase Date for a Note for which a Designated Event Repurchase Notice has been delivered and
not withdrawn is conditioned upon book-entry transfer or delivery of the Notes, together with
necessary endorsements, to the Paying Agent prior to the close of business on the second Business
Day prior to the Designated Event Repurchase Date.

     Section 3.06 . [Reserved]

     Section 3.07 . Issuer Repurchase Notice. (a) The Issuer Repurchase Notice, as provided in
Section 3.07(b), shall be given to Holders in the event of a Designated Event,

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on or before the tenth calendar day after the occurrence of such a Designated Event as
provided in Section 3.05(b) (the “Issuer Repurchase Notice Date”).

     (b) In connection with any repurchase of Notes, the Issuer shall, on the applicable Issuer
Repurchase Notice Date, give written notice to Holders (with a copy to the Trustee) setting forth
information specified in this Section (in either case, the “Issuer Repurchase Notice”).

     Each Issuer Repurchase Notice shall:

     (i) state the repurchase price, and the Designated Event Repurchase Date to which the
relevant Issuer Repurchase Notice relates;

     (ii) state, if applicable, the circumstances constituting the Designated Event;

     (iii) state that Holders must exercise their right to elect to repurchase prior to the
close of business on the second Business Day immediately prior to the Designated Event
Repurchase Date;

     (iv) include a form of Designated Event Repurchase Notice;

     (v) state the name and address of the Trustee, the Paying Agent and, if applicable,
the Exchange Agent;

     (vi) state that Notes must be surrendered to the Paying Agent to collect the
repurchase price;

     (vii) state that a Holder may withdraw its Designated Event Repurchase Notice at any
time prior to the close of business on the second Business Day immediately prior to the
Designated Event Repurchase Date, by delivering a valid written notice of withdrawal in
accordance with Section 3.08;

     (viii) if the Notes are then exchangeable, state that Notes as to which the Designated
Event Repurchase Notice has been given may be exchanged only if the Designated Event
Repurchase Notice is withdrawn in accordance with the terms of this Indenture;

     (ix) state the amount of interest accrued and unpaid per $1,000 principal amount of
Notes to, but excluding, the Designated Event Repurchase Date;

     (x) state that, unless the Issuer defaults in making payment of the repurchase price,
interest on Notes covered by any Designated Event Repurchase Notice shall cease to accrue
on and after the Designated Event Repurchase Date;

     (xi) state the CUSIP number of the Notes, if CUSIP numbers are then in use; and

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     (xii) state the procedures for withdrawing a Designated Event Repurchase Notice,
including a form of notice of withdrawal (as specified in Section 3.08).

     An Issuer Repurchase Notice may be given by the Issuer or, at the Issuer’s Request, the
Trustee shall give such Issuer Repurchase Notice in the Issuer’s name and at the Issuer’s expense;
provided that the text of the Issuer Repurchase Notice shall be prepared by the Issuer, and the
Trustee may rely and shall be fully protected in relying upon such text prepared by the Issuer.

     If any of the Notes is represented by a Global Note, then the Issuer will modify such Issuer
Repurchase Notice to the extent necessary to accord with the applicable procedures of the
Depositary that apply to the repurchase of Global Notes, and the Trustee may rely and shall be
fully protected in relying upon such text prepared by the Issuer.

     (c) The Issuer will, to the extent applicable, comply with the provisions of Rule 13e-4, Rule
14e-1 (or any successor provision) and other tender offer rules under the Exchange Act that may be
applicable at the time of the repurchase of the Notes, file the related Schedule TO (or any
successor schedule, form or report) under the Exchange Act and comply with all other applicable
federal and state securities laws in connection with the repurchase of the Notes.

     Section 3.08 . Effect of Designated Event Repurchase Notice; Withdrawal. Upon receipt by the
Paying Agent of the Designated Event Repurchase Notice, the Holder of the Note in respect of which
such Designated Event Repurchase Notice was given shall (unless such Repurchase Notice is validly
withdrawn in accordance with this Section 3.08) thereafter be entitled to receive solely the
repurchase price with respect to such Note. Such repurchase price shall be paid to such Holder on
the later of (x) two (2) Business Days following the time of book-entry transfer or delivery of
such Note to the Paying Agent by the Holder thereof in the manner required by this Section 3.05
and (y) the Designated Event Repurchase Date with respect to such Note (provided the Holder has
satisfied the conditions in Section 3.05).

     Notes in respect of which a Designated Event Repurchase Notice has been given by the Holder
thereof may not be exchanged pursuant to Article 13 hereof on or after the date of the delivery of
such Repurchase Notice unless such Designated Event Repurchase Notice has first been validly
withdrawn.

     A Designated Event Repurchase Notice may be withdrawn by means of a written notice of
withdrawal delivered to the office of the Paying Agent at any time prior to the close of business
on the second Business Day immediately prior to the Designated Event Repurchase Date specifying:

     (a) the name of the Holder;

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     (b) the certificate number(s) of all withdrawn Notes in certificated form or that the notice
of withdrawal complies with appropriate Depositary procedures with respect to all withdrawn Notes
represented by a Global Note;

     (c) the principal amount of Notes with respect to which such notice of withdrawal is being
submitted, which must be an integral multiple of $1,000; and

     (d) the principal amount of Notes, if any, that remains subject to the original Designated
Event Repurchase Notice and that has been or will be delivered for repurchase by the Issuer.

     If a Designated Event Repurchase Notice is properly withdrawn, the Issuer shall not be
obligated to repurchase the Notes listed in such Repurchase Notice.

     Section 3.09 . Deposit of Repurchase Price. (a) Prior to 11:00 a.m., New York City time, on
the Designated Event Repurchase Date, the Issuer shall deposit with the Paying Agent or, if the
Issuer is acting as the Paying Agent, shall segregate and hold in trust as provided in Section
4.04 an amount of cash (in immediately available funds if deposited on the Designated Event
Repurchase Date), sufficient to pay the aggregate repurchase price of all the Notes or portions
thereof that are to be repurchased as of the Designated Event Repurchase Date.

     (b) If on the Designated Event Repurchase Date the Paying Agent holds money sufficient to pay
the repurchase price of the Notes that Holders have elected to require the Issuer to repurchase in
accordance with Section 3.05, then, on the Designated Event Repurchase Date such Notes will cease
to be outstanding, interest will cease to accrue and all other rights of the Holders of such Notes
will terminate, other than the right to receive the repurchase price upon delivery or book-entry
transfer of the Note or, if such Notes have been tendered for exchange, the cash and, if
applicable, shares of Common Stock due upon such exchange. This will be the case whether or not
book-entry transfer of the Note has been made or the Note has been delivered to the Paying Agent.

     Section 3.10 . Notes Repurchased in Part. Upon presentation of any Note repurchased only in
part, the Issuer shall execute and upon receipt of such new Note or Notes the Trustee shall
authenticate and make available for delivery to the Holder thereof, at the expense of the Issuer, a
new Note or Notes in aggregate principal amount equal to the unrepurchased portion of the Notes
presented (provided that the unrepurchased portion of the Notes must be in an integral multiple of
$1,000).

     Section 3.11 . Repayment to the Issuer. Subject to Section 11.04, the Paying Agent shall
return to the Issuer any cash that remains unclaimed, together with interest, if any, thereon, held
by them for the payment of the repurchase price; provided that to the extent that the aggregate
amount of cash deposited by the Issuer pursuant to Section 3.09 exceeds the aggregate repurchase
price of the Notes or portions thereof which the Issuer is obligated to repurchase as of the
Designated Event Repurchase Date then, unless otherwise agreed in writing with the Issuer, promptly
after the second Business Day

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following the Designated Event Repurchase Date the Paying Agent shall return any such excess
to the Issuer, together with interest, if any, thereon.

ARTICLE 4

Particular Covenants of the Issuer

     Section 4.01 . Payment of Principal, Premium and Interest. The Issuer covenants and agrees
that it will duly and punctually pay or cause to be paid when due the principal of (including the
Redemption Price upon redemption or the repurchase price upon repurchase, in each case pursuant to
Article 3), and premium, if any, and interest on each of the Notes at the places, at the
respective times and in the manner provided herein and in the Notes.

     Section 4.02 . Maintenance of Office or Agency. The Issuer will maintain an office or agency
in the Borough of Manhattan, where the Notes may be surrendered for registration of transfer or
exchange or for presentation for payment or for exchange, redemption or repurchase and where
notices and demands to or upon the Issuer in respect of the Notes and this Indenture may be served;
provided, however, that the Notes may be so surrendered or presented instead to the Trustee at the
Corporate Trust office at the Holder’s or Issuer’s option. The Issuer will give prompt written
notice to the Trustee of the location, and any change in the location, of such office or agency. If
at any time the Issuer shall fail to maintain any such required office or agency or shall fail to
furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands
may be made or served at the Corporate Trust Office.

     The Issuer may also from time to time designate co-registrars and one or more offices or
agencies where the Notes may be presented or surrendered for any or all such purposes and may from
time to time rescind such designations. The Issuer will give prompt written notice to the Trustee
of any such designation or rescission and of any change in the location of any such other office or
agency.

     The Issuer hereby initially designates the Trustee as Paying Agent, Note Registrar, Custodian
and Exchange Agent and the Corporate Trust Office shall be considered as one such office or agency
of the Issuer for each of the aforesaid purposes. The provisions of Article 7 of this Indenture
shall also apply to the Trustee in each of its roles as Paying Agent, Note Registrar, Custodian,
and Exchange Agent, respectively.

     So long as the Trustee is the Note Registrar, the Trustee agrees to mail, or cause to be
mailed, at the expense of the Issuer, the notices set forth in Section 7.08(f). If co-registrars
have been appointed in accordance with this Section, the Trustee shall mail such notices only to
the Issuer and the Holders of Notes it can identify from its records.

     Section 4.03 . Appointments to Fill Vacancies in Trustee’s Office. The Issuer, whenever
necessary to avoid or fill a vacancy in the office of Trustee, will appoint, upon the terms and
conditions and otherwise as provided in Section 7.08, a Trustee, so that there shall at all times
be a Trustee hereunder.

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     Section 4.04 . Provisions as to Paying Agent. (a) If the Issuer shall appoint a Paying Agent
other than the Trustee, or if the Trustee shall appoint such a Paying Agent, the Issuer will cause
such Paying Agent to execute and deliver to the Trustee an instrument in which such agent shall
agree with the Trustee, subject to the provisions of this Section 4.04:

     (i) that it will hold all sums held by it as such agent for the payment of the
principal of and premium, if any, or interest on the Notes (whether such sums have been
paid to it by the Issuer or by any other obligor on the Notes) in trust for the benefit of
the Holders of the Notes;

     (ii) that it will give the Trustee notice of any failure by the Issuer (or by any
other obligor on the Notes) to make any payment of the principal of and premium, if any, or
interest on the Notes when the same shall be due and payable; and

     (iii) that at any time during the continuance of an Event of Default, upon request of
the Trustee, it will forthwith pay to the Trustee all sums so held in trust.

     The Issuer shall, on or before each due date of the principal of, premium, if any, or interest
on the Notes, deposit with the Paying Agent a sum (in funds which are immediately available on the
due date for such payment) sufficient to pay such principal, premium, if any, or interest and
(unless such Paying Agent is the Trustee) the Issuer will promptly notify the Trustee of any
failure to take such action; provided that if such deposit is made on the due date, such deposit
shall be received by the Paying Agent by 11:00 a.m. New York City time, on such date.

     (b) If the Issuer shall act as its own Paying Agent, it will, on or before each due date of
the principal of, premium, if any, or interest on the Notes, set aside, segregate and hold in trust
for the benefit of the Holders of the Notes a sum sufficient to pay such principal, premium, if
any, and interest so becoming due and will promptly notify the Trustee of any failure to take such
action and of any failure by the Issuer (or any other obligor under the Notes) to make any payment
of the principal of, premium, if any, or interest on the Notes when the same shall become due and
payable.

     (c) Anything in this Section 4.04 to the contrary notwithstanding, the Issuer may, at any
time, for the purpose of obtaining a satisfaction and discharge of this Indenture, or for any other
reason, pay or cause to be paid to the Trustee all sums held in trust by the Issuer or any Paying
Agent hereunder as required by this Section 4.04, such sums to be held by the Trustee upon the
trusts herein contained and upon such payment by the Issuer or any Paying Agent to the Trustee, the
Issuer or such Paying Agent shall be released from all further liability with respect to such sums.

     (d) Anything in this Section 4.04 to the contrary notwithstanding, the agreement to hold sums
in trust as provided in this Section 4.04 is subject to Section 11.02 and Section 11.03.

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     The Trustee shall not be responsible for the actions of any other Paying Agents (including the
Issuer if acting as its own Paying Agent) and shall have no control of any funds held by such other
Paying Agents.

     Section 4.05 . Existence. Subject to Article 10, each of the Issuer and the Guarantor will
do or cause to be done all things necessary to preserve and keep in full force and effect its
existence all material rights and material franchises; provided, however, that neither the Issuer
nor the Guarantor shall be required to preserve any such right or franchise if the Issuer or the
Board of Directors, as applicable, shall determine that the preservation thereof is no longer
desirable in the conduct of the business of the Issuer or the Guarantor, as applicable.

     Section 4.06 . [Reserved].

     Section 4.07 . Stay, Extension and Usury Laws. The Issuer and the Guarantor each covenants
(to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or
in any manner whatsoever claim or take the benefit or advantage of, any usury, stay or extension
law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the
performance of this Indenture; and the Issuer and the Guarantor each (to the extent that it may
lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants
that it will not hinder, delay or impede the execution of any power herein granted to the Trustee,
but will suffer and permit the execution of every such power as though no such law had been
enacted.

     Section 4.08 . Compliance Certificate. The Issuer and the Guarantor will deliver to the
Trustee, within 120 days after the end of each fiscal year, a brief certificate from the principal
executive officer, principal financial officer or principal accounting officer of the Guarantor as
to his or her knowledge of the Issuer’s and the Guarantor’s compliance with all conditions and
covenants under this Indenture and, in the event of any noncompliance, specifying such
noncompliance and the nature and status thereof. For purposes of this Section 4.08, such
compliance shall be determined without regard to any period of grace or requirement of notice under
this Indenture.

     The Issuer will deliver to the Trustee, promptly upon becoming aware of (i) any default in the
performance or observance of any covenant, agreement or condition contained in this Indenture, or
(ii) any Event of Default, an Officers’ Certificate specifying with particularity such default or
Event of Default and further stating what action the Issuer has taken, is taking or proposes to
take with respect thereto.

     Any notice required to be given under this Section 4.08 shall be delivered to a Responsible
Officer of the Trustee at its Corporate Trust Office.

     Section 4.09 . Additional Interest Notice. In the event that the Issuer is required to pay
Additional Interest to Holders of Notes pursuant to the Registration Rights Agreement, the Issuer
will provide written notice (“Additional Interest Notice”) to the Trustee of its obligation to pay
Additional Interest no later than fifteen (15) calendar days prior to the proposed interest payment
date for Additional Interest, and the Additional

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Interest Notice shall set forth the amount of Additional Interest to be paid by the Issuer on
such interest payment date. The Trustee shall not at any time be under any duty or responsibility
to any Holder of Notes to determine the Additional Interest, or with respect to the nature, extent
or calculation of the amount of Additional Interest when made, or with respect to the method
employed in such calculation of the Additional Interest.

ARTICLE 5

Noteholders’ Lists and Reports by the Issuer and the Trustee

     Section 5.01 . Noteholders’ Lists. The Issuer will furnish or cause to be furnished to the
Trustee:

     (a) semiannually, not later than 15 days after the Record Date for interest for the Notes, a
list, in such form as the Trustee may reasonably require, of the names and addresses of the Holders
of Notes as of such Record Date, and

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

provided, however, that, so long as the Trustee is the Note Registrar, no such list shall be
required to be furnished.

     Section 5.02 . Preservation and Disclosure of Lists. Every Holder of Notes, by receiving and
holding the same, agrees with the Issuer and the Trustee that neither the Issuer nor the Trustee
nor any Authenticating Agent nor any Paying Agent nor any Note Registrar shall be held accountable
by reason of the disclosure of any information as to the names and addresses of the Holders of
Notes in accordance with TIA Section 312, 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 TIA Section 312(b).

     Section 5.03 . Reports by Trustee. The Trustee shall transmit to the Holders of Notes such
reports concerning the Trustee and its actions under this Indenture as may be required by TIA
Section 313 at the times and in the manner provided by the TIA, which shall initially be not less
than every twelve months commencing on May 15, 2007 and may be dated as of a date up to 75 days
prior to such transmission. A copy of each such report shall, at the time of such transmission to
Holders of Notes, be filed by the Trustee with each stock exchange, if any, upon which any Notes
are listed, with the Commission and with the Issuer. The Issuer will notify the Trustee when any
Notes are listed on any stock exchange.

     Section 5.04 . Reports by Issuer. The Issuer will:

     (a) file with the Trustee, within 15 days after the Issuer actually files the same with the
Commission, copies of the annual reports and of the information, documents and

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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 Issuer 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 Issuer is not required to file information, documents or reports pursuant to either of such
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;

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

     (c) transmit by mail to the Holders of Notes, within 30 days after the filing thereof with the
Trustee, in the manner and to the extent provided in TIA Section 313(c), such summaries of any
information, documents and reports required to be filed by the Issuer pursuant to paragraphs (a)
and (b) of this Section as may be required by rules and regulations prescribed from time to time
by the Commission.

     (d) until the Maturity Date, provide upon request the information required by Rule 144A(d)(4)
to each Noteholder and to each beneficial owner and prospective purchaser of Notes and of any
shares of Common Stock delivered upon exchange of the Notes, unless such information has been
furnished to the Commission pursuant to Section 13 or 15(d) of the Exchange Act.

     (e) be deemed, for purposes of this Section 5.04, to have furnished or delivered reports to
the Trustee and the Noteholders if (i) such reports are filed with the Commission via the EDGAR
filing system, (ii) such reports are currently available, and (iii) the Issuer electronically
delivers to the Trustee a link to the EDGAR filing each time the Issuer files such a report.
Delivery of such reports, information and documents to the Trustee is for informational purposes
only and the Trustee’s receipt of such shall not constitute constructive notice of any information
contained therein or determinable from information contained therein, including the Issuer’s
compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely
exclusively on Officers’ Certificates).

ARTICLE 6

Remedies of the Trustee and Noteholders on an Event of Default

     Section 6.01 . Events of Default. In case one or more of the following (“Events of Default”)
(whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or
be effected by operation of law or pursuant to any judgment,

33

 

decree or order of any court or any order, rule or regulation of any administrative or
governmental body) shall have occurred and be continuing:

     (a) default in the payment of any interest on the Notes when such interest becomes due and
payable, that continues for a period of 30 days;

     (b) default in the payment of the principal of the Notes or any repurchase price or Redemption
Price due with respect to the Notes, when due and payable;

     (c) failure to deliver cash and, if applicable, Common Stock within five (5) days after the
due date upon an exchange of Notes pursuant to Article 13, together with any cash due in lieu of
fractional shares;

     (d) default in the performance, or breach, of any covenant or warranty in this Indenture with
respect to the Notes, and continuance of, and failure to obtain a waiver with respect to, such
default or breach for a period of 60 days after there has been given, by registered or certified
mail, to the Issuer by the Trustee or to the Issuer and the Trustee by the Holders of at least 25%
in aggregate principal amount of the Notes then outstanding 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;

     (e) default under any bond, debenture, note, mortgage, indenture or instrument under which
there may be issued or by which there may be secured or evidenced any indebtedness for money
borrowed by the Issuer or the Guarantor or by any Subsidiary of the Issuer or of the Guarantor, the
repayment of which the Issuer or the Guarantor has guaranteed or for which the Issuer or the
Guarantor is directly responsible or liable as obligor or guarantor, having an aggregate principal
amount outstanding of at least $10,000,000, whether such indebtedness now exists or shall hereafter
be created, which default shall have resulted in such indebtedness becoming or being declared due
and payable prior to the date on which it would otherwise have become due and payable, without such
indebtedness having been discharged, or such acceleration having been rescinded or annulled, within
a period of 15 days after there shall have been given, by registered or certified mail, to the
Issuer by the Trustee or to the Issuer and the Trustee by the Holders of at least 25% in aggregate
principal amount of the Notes then outstanding a written notice specifying such default and
requiring the Issuer to cause such indebtedness to be discharged or cause such acceleration to be
rescinded or annulled and stating that such notice is a “Notice of Default” hereunder;

     (f) a final judgment for the payment of $10,000,000 or more rendered against the Guarantor or
the Issuer and such amount is not covered by insurance or an indemnity or not discharged or stayed
within 15 days after (i) the date on which the right to appeal thereof has expired if no such
appeal has commenced, or (ii) the date on which all rights to appeal have been extinguished;

     (g) failure by the Guarantor or the Issuer to comply with its obligations under Section 10.01
of this Indenture;

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     (h) the Issuer’s failure to issue notice of any event described under Section 13.01(a)(iv) of
this Indenture as required under this Indenture and such failure continues for five days;

     (i) the Issuer’s failure to provide on a timely basis an Issuer Repurchase Notice after the
occurrence of a Designated Event as provided in Section 3.05(b) and Section 3.07(b); or

     (j) the Guarantor, the Issuer, or any of its Significant Subsidiaries pursuant to or under or
within meaning of any Bankruptcy Law:

          (i) commences a voluntary case; or

          (ii) consents to the entry of an order for relief against it in an involuntary case;
or

          (iii) consents to the appointment of any receiver, trustee, assignee, liquidator or
other similar official under any Bankruptcy Law of it or for all or substantially of its
property; or

          (iv) makes a general assignment for the benefit of creditors; or

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

          (i) is for relief against the Guarantor, the Issuer or any of its Significant
Subsidiaries in an involuntary case; or

          (ii) appoints a trustee, receiver, liquidator, custodian or other similar official of
the Guarantor, the Issuer or any of its Significant Subsidiaries or for all or
substantially all of its property; or

          (iii) orders the liquidation of the Guarantor, the Issuer or a Significant Subsidiary;

and, in each case in this clause (k), the order or decree remains unstayed and in effect for
ninety (90) calendar days;

then, and in each and every such case (other than an Event of Default specified in Section 6.01(j)
and Section 6.01(k) with respect to the Issuer), unless the principal of all of the Notes shall
have already become due and payable, either the Trustee or the Holders of at least twenty-five
percent (25%) in aggregate principal amount of the Notes then outstanding, by notice in writing to
the Issuer and the Guarantor (and to the Trustee if given by Noteholders), may declare the
principal amount of and premium, if any, and interest accrued and unpaid on all the Notes to be
immediately due and payable, and upon any such declaration the same shall be immediately due and
payable.

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     If an Event of Default specified in Section 6.01(j) or Section 6.01(k) occurs and is
continuing with respect to the Issuer, then the principal amount of and premium, if any, and
interest accrued and unpaid on all the Notes shall be immediately due and payable without any
declaration or other action on the part of the Trustee or any Holder of Notes.

     If, at any time after the principal amount of and premium, if any, and interest on the Notes
shall have been so declared due and payable, and before any judgment or decree for the payment of
the monies due shall have been obtained or entered as hereinafter provided, Holders of a majority
in aggregate principal amount of the Notes then outstanding on behalf of the Holders of all of the
Notes then outstanding, by written notice to the Issuer and to the Trustee, may waive all defaults
or Events of Default and rescind and annul such declaration and its consequences, subject in all
respects to Section 6.07, if: (a) all Events of Default, other than the nonpayment of the
principal amount and any accrued and unpaid interest, in each case, that have become due solely
because of such acceleration, have been cured or waived; (b) interest on overdue installments of
interest (to the extent that payment of such interest is lawful) and on overdue principal, which
has become due otherwise than by such declaration of acceleration, has been deposited with the
Trustee; and (c) the Issuer or the Guarantor has paid the Trustee its reasonable compensation and
reimbursed the Trustee for its expenses, disbursements and advances pursuant to Section 7.06. No
such rescission and annulment shall extend to or shall affect any subsequent default or Event of
Default, or shall impair any right consequent thereon.

     In case the Trustee shall have proceeded to enforce any right under this Indenture and such
proceedings shall have been discontinued or abandoned because of such waiver or rescission and
annulment or for any other reason or shall have been determined adversely to the Trustee, then and
in every such case the Issuer, the Holders of Notes, and the Trustee shall be restored respectively
to their several positions and rights hereunder, and all rights, remedies and powers of the Issuer,
the Holders of Notes, and the Trustee shall continue as though no such proceeding had been taken.

     Section 6.02 . Payments of Notes on Default; Suit Therefor. The Issuer covenants that in the
case of an Event of Default pursuant to Section 6.01(a) or 6.01(b), upon demand of the Trustee,
the Issuer will pay to the Trustee, for the benefit of the Holders of the Notes, (i) the whole
amount that then shall be due and payable on all such Notes for principal and premium, if any, or
interest, as the case may be, with interest upon the overdue principal and premium, if any, and (to
the extent that payment of such interest is enforceable under applicable law) upon the overdue
installments of accrued and unpaid interest at the rate borne by the Notes from the required
payment date and, (ii) in addition thereto, any amounts due the Trustee under Section 7.06. Until
such demand by the Trustee, the Issuer may pay the principal of and premium, if any, and interest
on the Notes to the registered Holders, whether or not the Notes are overdue.

     In case the Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee, in
its own name and as trustee of an express trust, shall be entitled and empowered to institute any
actions or proceedings at law or in equity for the collection of the sums so due and unpaid, and
may prosecute any such action or proceeding to

36

 

judgment or final decree, and may enforce any such judgment or final decree against the Issuer
or any other obligor on the Notes and collect in the manner provided by law out of the property of
the Issuer or any other obligor on the Notes wherever situated the monies adjudged or decreed to be
payable.

     In case of the pendency of any receivership, insolvency, liquidation, bankruptcy,
reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the
Guarantor, the Issuer or any other obligor upon the Notes or the property of the Guarantor, the
Issuer or of such other obligor or their creditors, the Trustee (irrespective of whether the
principal of the Notes shall then be due and payable as therein expressed or by declaration or
otherwise and irrespective of whether the Trustee shall have made any demand on the Issuer for the
payment of overdue principal (including the Redemption Price or repurchase price upon redemption or
repurchase pursuant to Article 3)) 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 (including
the Redemption Price or repurchase price upon redemption or repurchase pursuant to Article 3) and
interest owing and unpaid in respect of the Notes 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 of Notes 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 custodian, receiver, assignee, trustee, liquidator, sequestrator (or other
similar official) in any such judicial proceeding is hereby authorized by each Holder of Notes to
make such payments to the Trustee, and in the event that the Trustee shall consent to the making of
such payments directly to the Holders of Notes, to pay to the Trustee any amount due to it for the
reasonable compensation, expenses, disbursements and advances of the Trustee and any predecessor
Trustee, their agents and counsel, and any other amounts due the Trustee or any predecessor Trustee
under Section 7.06. Nothing herein contained shall be deemed to authorize the Trustee to authorize
or consent to or accept or adopt on behalf of any Holder of a Note any plan of reorganization,
arrangement, adjustment or composition affecting the Notes or the rights of any Holder thereof, or
to authorize the Trustee to vote in respect of the claim of any Holder of Notes in any such
proceeding; provided, however, that the Trustee may, on behalf of the Holders of Notes, vote for
the election of a trustee in bankruptcy or similar official and may be a member of the creditors’
committee.

     All rights of action and of asserting claims under this Indenture, or under any of the Notes,
may be enforced by the Trustee without the possession of any of the Notes, or the production
thereof at any trial or other proceeding relative thereto, and any such suit or proceeding
instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any
recovery of judgment shall, after provision for the payment of the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable
benefit of the Holders of the Notes.

     In any proceedings brought by the Trustee (and in any proceedings involving the interpretation
of any provision of this Indenture to which the Trustee shall be a party) the

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Trustee shall be held to represent all the Holders of the Notes, and it shall not be necessary
to make any Holders of the Notes parties to any such proceedings.

     Section 6.03 . Application of Monies Collected by Trustee. Any monies collected by the
Trustee pursuant to this Article 6 shall be applied, in the following order, at the date or dates
fixed by the Trustee for the distribution of such monies, upon presentation of the several Notes,
and stamping thereon the payment, if only partially paid, and upon surrender thereof, if fully
paid:

     FIRST: To the payment of costs and expenses of collection, including all sums paid or advanced
by the Trustee hereunder and the reasonable compensation, expenses and disbursements of the
Trustee, its agents and counsel all other amounts due the Trustee and any predecessor Trustee under
Section 7.06;

     SECOND: To the payment of the amounts then due and unpaid upon the Notes for principal
(including the Redemption Price or repurchase price upon redemption or repurchase pursuant to
Article 3) and interest, 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 aggregate amounts
due and payable on the Notes for principal (including the Redemption Price or repurchase price upon
redemption or repurchase pursuant to Article 3) and interest, respectively; and

     THIRD: To the payment of the remainder, if any, to the Issuer.

     Section 6.04 . Proceedings by Noteholders. No Holder of any Note shall have any right by
virtue of or by reference to any provision of this Indenture to institute any suit, action or
proceeding in equity or at law upon or under or with respect to this Indenture, or for the
appointment of a receiver, trustee, liquidator, custodian or other similar official, or for any
other remedy hereunder, except in the case of a default in the payment of principal, premium, if
any, or interest on the Notes, unless (a) such Holder previously shall have given to the Trustee
written notice of an Event of Default and of the continuance thereof, as hereinbefore provided, (b)
the Holders of at least twenty-five percent (25%) in aggregate principal amount of the Notes then
outstanding shall have made written request upon the Trustee to institute such action, suit or
proceeding in its own name as Trustee hereunder and shall have offered to the Trustee such
reasonable indemnity as it may require against the costs, liabilities or expenses to be incurred
therein or thereby, (c) the Trustee for sixty (60) calendar days after its receipt of such notice,
request and offer of indemnity, shall have failed to institute any such action, suit or proceeding
and (d) no direction inconsistent with such written request shall have been given to the Trustee by
Holders of a majority in aggregate principal amount of Notes then outstanding; it being understood
and intended, and being expressly covenanted by the taker and Holder of every Note with every other
taker and Holder and the Trustee, that no one or more Holders of Notes shall have any right in any
manner whatever by virtue of or by reference to any provision of this Indenture to affect, disturb
or prejudice the rights of any other Holder of Notes, or to obtain or seek to obtain priority over
or preference to any other such Holder, or to enforce any right under this Indenture, except in the
manner herein provided and for the equal, ratable and common benefit of all Holders of Notes

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(except as otherwise provided herein). For the protection and enforcement of this Section
6.04, each and every Noteholder and the Trustee shall be entitled to such relief as can be given
either at law or in equity.

     Notwithstanding any other provision of this Indenture and any provision of any Note, the right
of any Holder of any Note to receive payment of the principal of (including the Redemption Price or
repurchase price upon redemption or repurchase pursuant to Article 3) and premium, if any, and
accrued interest on such Note, on or after the respective due dates expressed in such Note or in
the event of redemption or repurchase, or to institute suit for the enforcement of any such payment
on or after such respective dates against the Issuer shall not be impaired or affected without the
consent of such Holder.

     Anything contained in this Indenture or the Notes to the contrary notwithstanding, the Holder
of any Note, without the consent of either the Trustee or the Holder of any other Note, in its own
behalf and for its own benefit, may enforce, and may institute and maintain any proceeding suitable
to enforce, its rights of exchange as provided in Article 13.

     Section 6.05 . Proceedings by Trustee. If an Event of Default occurs and is continuing, the
Trustee may in its discretion proceed to protect and enforce its rights and the rights of the
Holders of Notes by such appropriate judicial proceedings as the Trustee shall deem most effectual
to protect and enforce any such rights, whether for the specific enforcement of any covenant or
agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce
any other proper remedy.

     Section 6.06 . Remedies Cumulative and Continuing. All powers and remedies given by this
Article 6 to the Trustee or to the Noteholders shall, to the extent permitted by law, be deemed
cumulative and not exclusive of any thereof or of any other powers and remedies available to the
Trustee or the Holders of the Notes, by judicial proceedings or otherwise, to enforce the
performance or observance of the covenants and agreements contained in this Indenture, and no delay
or omission of the Trustee or of any Holder of any of the Notes to exercise any right or power
accruing upon any default or Event of Default occurring and continuing as aforesaid shall impair
any such right or power, or shall be construed to be a waiver of any such default or any
acquiescence therein, and, subject to the provisions of Section 6.04, every power and remedy given
by this Article 6 or by law to the Trustee or to the Noteholders may be exercised from time to
time, and as often as shall be deemed expedient, by the Trustee or by the Noteholders.

     Section 6.07 . Direction of Proceedings and Waiver of Defaults by Majority of Noteholders.
The Holders of not less than a majority in aggregate principal amount of the Notes at the time
outstanding 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;
provided that (a) such direction shall not be in conflict with any rule of law or with this
Indenture, (b) the Trustee may take any other action deemed proper by the Trustee which is not
inconsistent with such direction, and (c) the Trustee need not take any action which might involve
it in personal liability or be

39

 

unduly prejudicial to the Holders of Notes not joining therein, it being understood that
(subject to Section 7.02) the Trustee shall have no duty to ascertain whether or not such actions
or forbearance are unduly prejudicial to such Holders.

     The Holders of a majority in aggregate principal amount of the Notes at the time outstanding
may, on behalf of the Holders of all of the Notes, waive any past default or Event of Default
hereunder and its consequences except (i) a default in the payment of the principal of (including
the Redemption Price or repurchase price upon redemption or repurchase pursuant to Article 3),
premium, if any, or interest on the Notes, (ii) a failure by the Issuer to exchange any Notes as
required by this Indenture or (iii) a default in respect of a covenant or provisions hereof which
under Article 9 cannot be modified or amended without the consent of the Holders of all Notes then
outstanding or each Note affected thereby.

     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 Event of Default or impair any right
consequent thereon.

     Section 6.08 . Undertaking to Pay Costs. All parties to this Indenture agree, and each
Holder of any Note by its 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 or omitted by it as Trustee, the
filing by any party litigant in such suit of an undertaking to pay the costs of such suit and that
such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees and
expenses, 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; provided that the provisions of this
Section 6.08 (to the extent permitted by law) shall not apply to any suit instituted by the
Trustee, to any suit instituted by any Noteholder, or group of Noteholders, holding in the
aggregate more than ten percent in principal amount of the Notes at the time outstanding determined
in accordance with Section 8.04, or to any suit instituted by any Noteholder for the enforcement
of the payment of the principal of (including the Redemption Price or repurchase price upon
redemption or repurchase pursuant to Article 3), or interest on any Note on or after the due date
expressed in such Note or to any suit for the enforcement of the right to exchange any Note in
accordance with the provisions of Article 13.

ARTICLE 7

The Trustee

     Section 7.01 . Notice of Defaults. Within 90 days after the occurrence of any default
hereunder, the Trustee shall transmit in the manner and to the extent provided in TIA Section
313(c), notice of such default hereunder actually known to a Responsible Officer of the Trustee,
unless a Responsible Officer of the Trustee shall have actual knowledge that 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 (including the

40

 

Redemption Price or repurchase price upon redemption or repurchase pursuant to Article 3) or
interest on any Note or a default with respect to the Issuer’s obligation to deliver, upon
exchange, cash and shares of Common Stock, if applicable, the Trustee shall be protected in
withholding such notice if and so long as Responsible Officers of the Trustee in good faith
determine that the withholding of such notice is in the interests of the Holders of the Notes; and
provided further that in the case of any default or breach of the character specified in Section
6.01(d), no such notice to Holders of Notes shall be given until at least 60 days after the
occurrence thereof.

     Section 7.02 . Certain Rights of Trustee. Subject to the provisions of TIA Section 315(a)
through 315(d):

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

     (b) any request or direction of the Issuer mentioned herein shall be sufficiently evidenced by
an Issuer Request, Issuer Order, or written request or order of the Issuer (other than delivery of
any Note to the Trustee for authentication and delivery pursuant to Sections 2.01 and 2.04 which
shall be sufficiently evidenced as provided therein) and any resolution of the Board of Directors
may be sufficiently evidenced by a Board Resolution;

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

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

     (e) the Trustee shall be under no obligation to exercise any of the rights or powers vested in
it by this Indenture at the request or direction of any of the Holders of Notes pursuant to this
Indenture, unless such Holders shall have offered to the Trustee security or indemnity reasonably
satisfactory to the Trustee 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, coupon or other paper or document, unless requested in
writing so to do by the Holders of not less than a majority in aggregate principal amount of the
Outstanding Notes; provided that, if the payment within a reasonable time to the Trustee of the
costs, expenses or liabilities likely to be

41

 

incurred by it in the making of such investigation is, in the opinion of the Trustee, not
reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture,
the Trustee may require reasonable indemnity against such expenses or liabilities as a condition to
proceeding; the reasonable expenses of every such examination shall be paid by the Holders or, if
paid by the Trustee, shall be repaid by the Holders upon demand. The Trustee, in its discretion,
may make such further inquiry or investigation into such facts or matters as it may see fit, and,
if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled
to examine the books, records and premises of the Issuer, relevant to the facts or matters that are
the subject of its inquiry, personally or by agent or attorney;

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

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

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

     (j) the Trustee shall not be required to give any bond or surety in respect of the performance
of its powers and duties hereunder;

     (k) the permissive rights of the Trustee to do things enumerated in this Indenture shall not
be construed as a duty and the Trustee shall not be answerable for other than its negligence or
willful misconduct; and

     (l) except for any event of which a Responsible Officer of the Trustee has “actual knowledge”
and which event, with the giving of notice or the passage of time or both, would constitute an
Event of Default under this Indenture, the Trustee shall not be deemed to have notice of any
default or Event of Default unless specifically notified in writing of such event by the Issuer or
the Holders of not less than 25% in aggregate principal amount of the Notes then outstanding; as
used herein, the term “actual knowledge” means the actual fact or statement of knowing, without any
duty to make any investigation with regard thereto.

     The Trustee shall not be required to expend or risk its own funds or otherwise incur any
financial liability in the performance of any of its duties hereunder, or in the exercise of any of
its rights or powers, if it shall have reasonable grounds for believing that repayment of such
funds or adequate indemnity against such risk or liability is not reasonably assured to it. Except
during the continuance of an Event of Default, the Trustee undertakes to perform only such duties
as are specifically to be performed by it

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as set forth in this Indenture, and no implied covenants or obligations shall be read into
this Indenture against the Trustee.

     All of the benefits, protections, privileges, immunities, indemnities, and rights under this
Indenture that apply to the Trustee also apply to Wilmington Trust Company in its individual
capacity and in its respective other capacities hereunder (including, without limitation, as Note
Registrar, Paying Agent, Exchange Agent, and Custodian).

     Section 7.03 . Not Responsible for Recitals or Issuance of Notes. The recitals contained
herein and in the Notes, except the Trustee’s certificate of authentication shall be taken as the
statements of the Issuer, and neither the Trustee nor any Authenticating Agent assumes any
responsibility for their correctness. The Trustee makes no representations as to the validity or
sufficiency of this Indenture or of the Notes except that the Trustee represents that it is duly
authorized to execute and deliver this Indenture, authenticate the Notes and perform its
obligations hereunder. Neither the Trustee nor any Authenticating Agent shall be accountable for
the use or application by the Issuer of Notes or the proceeds thereof.

     Section 7.04 . May Hold Notes and Common Stock. The Trustee, any Paying Agent, Exchange
Agent, Security Registrar, Authenticating Agent or any other agent of the Issuer, in its individual
or any other capacity, may become the owner or pledgee of Notes or Common Stock and, subject to TIA
Sections 310(b) and 311, may otherwise deal with the Issuer and the Guarantor with the same rights
it would have if it were not Trustee, Paying Agent, Exchange Agent, Security Registrar,
Authenticating Agent or such other agent.

     Section 7.05 . 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
Issuer.

     Section 7.06 . Compensation and Reimbursement. The Issuer agrees:

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

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

     (c) to indemnify each of the Trustee (including its officers, agents, and employees) and any
predecessor Trustee for, and to hold it harmless against, any loss,

43

 

liability or expense incurred without negligence or willful misconduct on its part, arising
out of or in connection with the acceptance or administration of the trust or trusts hereunder,
including the costs and expenses of defending itself against or investigating any claim or
liability in connection with the exercise or performance of any of its powers or duties hereunder.

     When the Trustee incurs expenses or renders services in connection with an Event of Default
specified in Sections 6.01(j) or 6.01(k), the expenses (including the reasonable charges and
expenses of its counsel) and the compensation for the services are intended to constitute expenses
of administration under any applicable federal or state bankruptcy, insolvency or other similar
law.

     As security for the performance of the obligations of the Issuer under this Section, the
Trustee shall have a lien prior to the Notes upon all property and funds held or collected by the
Trustee as such, except funds held in trust for the payment of principal of (including the
Redemption Price or repurchase price upon redemption or repurchase pursuant to Article 3) or
interest on any Notes. The provisions of this Section shall survive the termination of this
Indenture.

     Section 7.07 . Corporate Trustee Required; Eligibility; Conflicting Interests. There shall at
all times be a Trustee hereunder which shall be eligible to act as Trustee under TIA Section
310(a)(1) and shall have a combined capital and surplus of at least $50,000,000. If such
corporation publishes reports of condition at least annually, pursuant to law or the requirements
of federal, state, territorial or District of Columbia 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. Neither the Issuer nor any Person directly or indirectly controlling, controlled by, or
under common control with the Issuer shall serve as Trustee. If at any time the Trustee shall cease
to be eligible in accordance with the provisions of this Section, it shall resign immediately in
the manner and with the effect hereinafter specified in this Article.

     Section 7.08 . Resignation and Removal; Appointment of Successor.

     (a) No resignation or removal of the Trustee and no appointment of a successor Trustee
pursuant to this Article shall become effective until the acceptance of appointment by the
successor Trustee in accordance with the applicable requirements of Section 7.09.

     (b) The Trustee may resign at any time by giving written notice thereof to the Issuer. 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, the resigning Trustee may petition any
court of competent jurisdiction for the appointment of a successor Trustee.

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     (c) The Trustee may be removed at any time by Act of the Holders of a majority in principal
amount of the Outstanding Notes delivered to the Trustee and to the Issuer.

     (d) If at any time:

     (i) the Trustee shall fail to comply with the provisions of TIA Section 310(b) after
written request therefor by the Issuer or by any Holder of a Note who has been a bona fide
Holder of a Note for at least six months, or

     (ii) the Trustee shall cease to be eligible under Section 7.07 and shall fail to
resign after written request therefor by the Issuer or by any Holder of a Note who has been
a bona fide Holder of a Note for at least six months, or

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

then, in any such case, (A) the Issuer by or pursuant to a Board Resolution may remove the Trustee
and appoint a successor Trustee, or (B) subject to TIA Section 315(e), any Holder of a Note who has
been a bona fide Holder of a Note 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 and
the appointment of a successor Trustee or Trustees.

     (e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy
shall occur in the office of Trustee for any cause, the Issuer, by or pursuant to a Board
Resolution, shall promptly appoint a successor Trustee or Trustees. If, within one year after such
resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee shall
be appointed by Act of the Holders of a majority in principal amount of the Outstanding Notes
delivered to the Issuer and the retiring Trustee, the successor Trustee so appointed shall,
forthwith upon its acceptance of such appointment, become the successor Trustee and to that extent
supersede the successor Trustee appointed by the Issuer. If no successor Trustee shall have been so
appointed by the Issuer or the Holders of Notes and accepted appointment in the manner hereinafter
provided, any Holder of a Note who has been a bona fide Holder of a Note 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.

     (f) The Issuer shall give notice of each resignation and each removal of the Trustee and each
appointment of a successor Trustee by mailing or causing to be mailed such notice to the Holders of
Notes as they appear on the Note Register. Each notice shall include the name of the successor
Trustee and the address of its Corporate Trust Office.

     Section 7.09 . Acceptance of Appointment By Successor. (a) In case of the appointment
hereunder of a successor Trustee, every such successor Trustee so appointed shall execute,
acknowledge and deliver to the Issuer and to the retiring Trustee an

45

 

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 Issuer 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 nevertheless to its claim, if any, provided for in Section 7.06.

     (b) In case of the appointment hereunder of a successor Trustee, the Issuer, the retiring
Trustee and each successor Trustee shall execute and deliver an indenture supplemental hereto,
pursuant to Article Nine hereof, wherein each successor Trustee shall accept such appointment and
which (i) 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 to which the appointment of such successor Trustee relates, (ii) if the retiring
Trustee is not retiring all Notes, 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 as to
which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and
(iii) 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, trust sand duties of the retiring Trustee to which the appointment of such
successor Trustee relates; but, on request of the Issuer 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 to which the appointment of such successor Trustee relates.

     (c) Upon request of any such successor Trustee, the Issuer shall execute any and all
instruments for more fully and certainly vesting in and confirming to such successor Trustee all
such rights, powers and trusts referred to in paragraph (a) or (b) of this Section 7.09, as the
case may be.

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

     Section 7.10 . 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

46

 

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 Notes 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 Notes so authenticated with the same effect as if
such successor Trustee had itself authenticated such Notes. In case any Notes shall not have been
authenticated by such predecessor Trustee, any such successor Trustee may authenticate and deliver
such Notes, 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.

     Section 7.11 . Appointment of Authenticating Agent. At any time when any of the Notes remain
Outstanding, the Trustee may appoint an Authenticating Agent or Agents which shall be authorized to
act on behalf of the Trustee to authenticate Notes issued upon exchange, registration of transfer
or partial redemption or repayment thereof, and Notes so authenticated shall be entitled to the
benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated
by the Trustee hereunder. Any such appointment shall be evidenced by an instrument in writing
signed by a Responsible Officer of the Trustee, a copy of which instrument shall be promptly
furnished to the Issuer. Wherever reference is made in this Indenture to the authentication and
delivery of Notes by the Trustee or the Trustee’s certificate of authentication, such reference
shall be deemed to include authentication and delivery on behalf of the Trustee by an
Authenticating Agent and a certificate of authentication executed on behalf of the Trustee by an
Authenticating Agent. Each Authenticating Agent shall be acceptable to the Issuer and shall at all
times be a bank or trust company or corporation organized and doing business and in good standing
under the laws of the United States of America or of any state or the District of Columbia,
authorized under such laws to act as Authenticating Agent, having a combined capital and surplus of
not less than $50,000,000 and subject to supervision or examination by Federal or state
authorities. If such Authenticating Agent publishes reports of condition at least annually,
pursuant to law or the requirements of the aforesaid supervising or examining authority, then for
the purposes of this Section, the combined capital and surplus of such Authenticating Agent shall
be deemed to be its combined capital and surplus asset forth in its most recent report of condition
so published. In case at any time an Authenticating Agent shall cease to be eligible in accordance
with the provisions of this Section, such Authenticating Agent shall resign immediately in the
manner and with the effect specified in this Section.

     Any corporation into which an Authenticating Agent may be merged or converted or with which it
may be consolidated, or any corporation resulting from any merger, conversion or consolidation to
which such Authenticating Agent shall be a party, or any corporation succeeding to the corporate
agency or corporate trust business of an Authenticating Agent, shall continue to be an
Authenticating Agent, provided such corporation shall be otherwise eligible under this Section,
without the execution or filing of any paper or further act on the part of the Trustee or the
Authenticating Agent.

     An Authenticating Agent may at any time resign by giving written notice of resignation to the
Trustee and to the Issuer. The Trustee may at any time terminate the

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agency of an Authenticating Agent by giving written notice of termination to such
Authenticating Agent and to the Issuer. Upon receiving such a notice of resignation or upon such a
termination, or in case at any time such Authenticating Agent shall cease to be eligible in
accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating
Agent which shall be acceptable to the Issuer and shall give notice of such appointment to all
Holders of Notes by mailing or causing to be mailed such notice to the Holders of Notes as they
appear on the Note Register. Any successor Authenticating Agent upon acceptance of its appointment
hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder,
with like effect as if originally named as an Authenticating Agent herein. No successor
Authenticating Agent shall be appointed unless eligible under the provisions of this Section.

     The Issuer agrees to pay to each Authenticating Agent from time to time reasonable
compensation including reimbursement of its reasonable expenses for its services under this
Section.

     If an appointment is made pursuant to this Section, the Notes may have endorsed thereon, in
addition to or in lieu of the Trustee’s certificate of authentication, an alternate certificate of
authentication substantially in the following form:

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

	 	 	 
	 

	 	Wilmington Trust Company, as Trustee
	 
	 	 
	Dated:

	 	By:
	 
	 	 

	 

	 	as Authenticating Agent
	 
	 	 
	Dated:

	 	By:
	 
	 	 

	 

	 	Authorized Signatory

     Section 7.12 . Certain Duties and Responsibilities of the Trustee.

     (a) With respect to the Notes, except during the continuance of an Event of Default with
respect to the Notes:

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

     (ii) in the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the requirements of
this Indenture; but in the case of any such certificates or opinions which by any provision
hereof are specifically required to

48

 

be furnished to the Trustee, the Trustee shall be under a duty to examine the same to
determine whether or not they conform to the requirements of this Indenture, but shall not
be under any duty to verify the contents or accuracy thereof.

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

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

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

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

     (iii) the Trustee shall not be liable with respect to any action taken or omitted to
be taken by it in good faith in accordance with the direction of the Holders of a majority
in principal amount of the Outstanding Notes 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; and

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

     (d) 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 7.12.

ARTICLE 8

The Noteholders

     Section 8.01 . Action by Noteholders. Whenever in this Indenture it is provided that the
Holders of a specified percentage in aggregate principal amount of the Notes may take any action
(including the making of any demand or request, the giving of any notice, consent or waiver or the
taking of any other action), the fact that at the time of taking any such action, the Holders of
such specified percentage have joined therein may be evidenced (a) by any instrument or any number
of instruments of similar tenor executed

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by Noteholders in person or by agent or proxy appointed in writing, or (b) by the record of
the Holders of Notes voting in favor thereof at any meeting of Noteholders, or (c) by a combination
of such instrument or instruments and any such record of such a meeting of Noteholders. Whenever
the Issuer or the Trustee solicits the taking of any action by the Holders of the Notes, the Issuer
or the Trustee may fix in advance of such solicitation a date as the record date for determining
Holders entitled to take such action. Notwithstanding Trust Indenture Act Section 316(c), such
record date shall be the record date specified in or pursuant to such Board Resolution, which shall
be a date not earlier than the date 30 days prior to the first solicitation of Noteholders
generally in connection therewith and not later than the date such solicitation is completed. If
such a record date is fixed, such request, demand, authorization, direction, notice, consent,
waiver or other act may be given before or after such record date, but only the Noteholders of
record at the close of business on such record date shall be deemed to be Noteholders for the
purposes of determining whether Holders of the requisite proportion of outstanding Notes have
authorized or agreed or consented to such request, demand, authorization, direction, notice,
consent, waiver or other act, and for that purpose the outstanding notes shall be computed as of
such record date; provided that no such authorization, agreement or consent by the Noteholders on
such record date shall be deemed effective unless it shall become effective pursuant to the
provisions of this Indenture not later than eleven months after the record date.

     Section 8.02 . Proof of Execution by Noteholders. Subject to the provisions of Sections 7.02
and 7.12, proof of the execution of any instrument by a Noteholder or its agent or proxy shall be
sufficient if made in accordance with such reasonable rules and regulations as may be prescribed by
the Trustee or in such manner as shall be satisfactory to the Trustee. The holding of Notes shall
be proved by the registry of such Notes or by a certificate of the Note Registrar.

     Section 8.03 . Absolute Owners. The Issuer, the Trustee, any Paying Agent, any exchange
agent and any Note Registrar may deem the Person in whose name such Note shall be registered upon
the Note Register to be, and may treat it as, the absolute owner of such Note (whether or not such
Note shall be overdue and notwithstanding any notation of ownership or other writing thereon made
by any Person other than the Issuer or any Note Registrar) for the purpose of receiving payment of
or on account of the principal of (including the Redemption Price or repurchase price upon
redemption or repurchase pursuant to Article 3), premium, if any, and interest on such Note, for
exchange of such Note and for all other purposes; and neither the Issuer nor the Trustee nor any
Paying Agent nor any exchange agent nor any Note Registrar shall be affected by any notice to the
contrary. All such payments so made to any Holder for the time being, or upon its order, shall be
valid, and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the
liability for monies payable upon any such Note.

     Section 8.04 . Issuer-owned Notes Disregarded. In determining whether the Holders of the
requisite aggregate principal amount of Notes have given any request, demand, authorization,
direction, notice, consent or waiver under this Indenture or whether a quorum is present a meeting
of Noteholders, Notes that are owned by the Issuer or any other obligor upon the Notes or any
Affiliate of the Issuer or any other

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obligor on the Notes shall be disregarded and deemed not to be outstanding for the purpose of
any such determination; provided that for the purposes of determining whether the Trustee shall be
protected in relying on any such direction, consent, waiver or other action, only Notes which a
Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. Notes so
owned which have been pledged in good faith may be regarded as outstanding for the purposes of this
Section 8.04 if the pledgee shall establish to the satisfaction of the Trustee the pledgee’s right
to vote such Notes and that the pledgee is not the Issuer, any other obligor on the Notes or any
Affiliate of the Issuer or any such other obligor. In the case of a dispute as to such right, any
decision by the Trustee taken upon the advice of counsel shall be full protection to the Trustee.
Upon request of the Trustee, the Issuer shall furnish to the Trustee promptly an Officers’
Certificate listing and identifying all Notes, if any, known by the Issuer to be owned or held by
or for the account of any of the above described Persons, and, subject to Section 7.12, the Trustee
shall be entitled to accept such Officers’ Certificate as conclusive evidence of the facts therein
set forth and of the fact that all Notes not listed therein are outstanding for the purpose of any
such determination.

     Section 8.05 . Revocation of Consents; Future Holders Bound. At any time prior to (but not
after) the evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by
the Holders of the percentage in aggregate principal amount of the Notes specified in this
Indenture in connection with such action, any Holder of a Note which is shown by the evidence to be
included in the Notes the Holders of which have consented to such action may, by filing written
notice with the Trustee at its Corporate Trust Office and upon proof of holding as provided in
Section 8.02, revoke such action so far as concerns such Note. Except as aforesaid, any such action
taken by the Holder of any Note shall be conclusive and binding upon such Holder and upon all
future Holders and owners of such Note and of any Notes issued in exchange or substitution
therefor, irrespective of whether any notation in regard thereto is made upon such Note or any Note
issued in exchange or substitution therefor.

ARTICLE 9

Supplemental Indentures

     Section 9.01 . Supplemental Indentures Without Consent of Noteholders. The Issuer, when
authorized by the resolutions of the Board of Directors, the Guarantor and the Trustee may, from
time to time, and at any time enter into an indenture or indentures supplemental without the
consent of any Holder of the Notes hereto for any of the following purposes:

     (a) to evidence a successor to the Issuer as obligor or to the Guarantor as guarantor under
this Indenture;

     (b) to add Events of Default for the benefit of the Holders of the Notes;

     (c) to secure the Notes;

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     (d) to provide for the acceptance of appointment of a successor Trustee or facilitate the
administration of the trusts under this Indenture by more than one Trustee;

     (e) to cure any ambiguity, defect or inconsistency in this Indenture; provided that this
action shall not materially adversely affect the interests of the Holders of the Notes in any
material respect; provided that no modification or amendment to cure any ambiguity, defect or
inconsistency in the indenture or the Notes made solely to conform the indenture to the
“Description of Notes” contained in the Offering Memorandum will be deemed to adversely affect the
interests of the holders of the Notes;

     (f) to amend or supplement any provisions of this Indenture; provided that no amendment or
supplement shall materially adversely affect the interests of the Holders of any Notes then
outstanding;

     (g) to add to the covenants of the Issuer or the Guarantor for the benefit of the Holders of
the Notes or to surrender any right or power conferred upon the Issuer or the Guarantor in this
Indenture or in the Notes;

     (h) to provide for Global Notes in addition to or in place of Certificated Notes, as provided
in this Indenture;

     (i) to make any changes to comply with the Trust Indenture Act, or any amendment thereto; or

     (j) to modify this Indenture and the Notes to increase the Exchange Rate or reduce the
Exchange Price; provided that the increase or reduction, as the case may be, is in accordance with
the terms of the Notes or will not adversely affect the interests of the Holders of the Notes.

     Upon the written request of the Issuer, accompanied by a copy of the resolutions of the Board
of Directors certified by the Guarantor’s Secretary or Assistant Secretary authorizing the
execution of any supplemental indenture, the Trustee is hereby authorized to join with the Issuer
and the Guarantor in the execution of any such supplemental indenture, to make any further
appropriate agreements and stipulations that may be therein contained and to accept the conveyance,
transfer and assignment of any property thereunder, but the Trustee shall not be obligated to, but
may in its discretion, enter into any supplemental indenture that affects the Trustee’s own rights,
duties or immunities under this Indenture or otherwise.

     Any supplemental indenture authorized by the provisions of this Section 9.01 may be executed
by the Issuer, the Guarantor and the Trustee without the consent of the Holders of any of the Notes
at the time outstanding, notwithstanding any of the provisions of Section 9.02.

     Section 9.02 . Supplemental Indenture With Consent of Noteholders. With the consent
(evidenced as provided in Article 8) of the Holders of not less than a majority in aggregate
principal amount of the Notes at the time outstanding, the Issuer, when authorized by the
resolutions of the Board of Directors, the Guarantor and the Trustee

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may, from time to time and at any time, 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 any supplemental indenture or modifying in any manner the
rights of the Holders of the Notes; provided that no such supplemental indenture shall, without the
consent of the Holder of each Note so affected:

     (a) change the Maturity Date of the principal of or any installment of interest on the Notes,
reduce the principal amount of, or the rate or amount of interest on, or any premium payable on
redemption of, the Notes, or adversely affect any right of repayment of the Holder of the Notes,
change the place of payment, or the coin or currency, for payment of principal of or interest on
any Note or impair the right to institute suit for the enforcement of any payment on or with
respect to the Notes;

     (b) reduce the percentage in principal amount of the outstanding Notes necessary to modify or
amend this Indenture as provided in this Section 9.02, to waive compliance with certain provisions
of this Indenture or certain defaults and their consequences provided in this Indenture, or to
reduce the quorum or change voting requirements set forth in this Indenture;

     (c) modify or affect in any manner adverse to the Holders of the Notes the terms and
conditions of the obligations of the Guarantor in respect of the payments of principal and
interest;

     (d) modify any of this Section 9.02 or any of the provisions relating to the waiver of certain
past defaults or certain covenants, except to increase the required percentage to effect the action
or to provide that certain other provisions may not be modified or waived without the consent of
the Holders of the Notes;

     (e) change the ranking of the Notes;

     (f) modify the provisions of Section 3.05 in a manner adverse to the Holders of the Notes,
including the Issuer’s obligation to repurchase the Notes following a Designated Event; or

     (g) adversely affect the rights of Holders of the Notes contained in Section 13.01 of this
Indenture.

     Upon the written request of the Issuer, accompanied by a copy of the resolutions of the Board
of Directors certified by the Guarantor’s Secretary or Assistant Secretary authorizing the
execution of any supplemental indenture, and upon the filing with the Trustee of evidence of the
consent of Noteholders as aforesaid, the Trustee shall join with the Issuer and the Guarantor in
the execution of such supplemental indenture unless such supplemental indenture affects the
Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the
Trustee may in its discretion, but shall not be obligated to, enter into such supplemental
indenture.

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     It shall not be necessary for the consent of the Noteholders under this Section 9.02 to
approve the particular form of any proposed supplemental indenture, but it shall be sufficient if
such consent shall approve the substance thereof.

     Section 9.03 . Effect of Supplemental Indenture. Any supplemental indenture executed
pursuant to the provisions of this Article 9 shall comply with the Trust Indenture Act, as then in
effect, provided that this Section 9.03 shall not require such supplemental indenture or the
Trustee to be qualified under the Trust Indenture Act prior to the time, if ever, such
qualification is in fact required under the terms of the Trust Indenture Act or the Indenture has
been qualified under the Trust Indenture Act, nor shall it constitute any admission or
acknowledgment by any party to such supplemental indenture that any such qualification is required
prior to the time, if ever, such qualification is in fact required under the terms of the Trust
Indenture Act or the Indenture has been qualified under the Trust Indenture Act. Upon the execution
of any supplemental indenture pursuant to the provisions of this Article 9, this Indenture shall be
and be deemed to be modified and amended in accordance therewith and the respective rights,
limitation of rights, obligations, duties and immunities under this Indenture of the Trustee, the
Issuer and the Holders of Notes shall thereafter be determined, exercised and enforced hereunder,
subject in all respects to such modifications and amendments and all the terms and conditions of
any such supplemental indenture shall be and be deemed to be part of the terms and conditions of
this Indenture for any and all purposes.

     Section 9.04 . Notation on Notes. Notes authenticated and delivered after the execution of
any supplemental indenture pursuant to the provisions of this Article 9 may bear a notation in form
approved by the Trustee as to any matter provided for in such supplemental indenture. If the Issuer
or the Trustee shall so determine, new Notes so modified as to conform, in the opinion of the
Trustee and the Board of Directors, to any modification of this Indenture contained in any such
supplemental indenture may, at the Issuer’s expense, be prepared and executed by the Issuer,
authenticated by the Trustee (or an authenticating agent duly appointed by the Trustee pursuant to
Section 7.11) and delivered in exchange for the Notes then outstanding, upon surrender of such
Notes then outstanding.

     Section 9.05 . Evidence of Compliance of Supplemental Indenture to Be Furnished to Trustee.
Prior to entering into any supplemental indenture pursuant to this Article 9, the Trustee shall be
provided with an Officers’ Certificate and an Opinion of Counsel as conclusive evidence that any
supplemental indenture executed pursuant hereto complies with the requirements of this Article 9
and is otherwise authorized or permitted by this Indenture.

ARTICLE 10

Consolidation, Merger, Sale, Conveyance and Lease

     Section 10.01 . Issuer May Consolidate on Certain Terms. Nothing contained in this Indenture
or in the Notes shall prevent any consolidation or merger of the Issuer with or into any other
Person or Persons (whether or not affiliated with the Issuer), or

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successive consolidations or mergers in which either the Issuer will be the continuing entity
or the Issuer or its successor or successors shall be a party or parties, or shall prevent any
sale, lease or conveyance, of all or substantially all of the property of the Issuer, to any other
Person (whether or not affiliated with the Issuer) so long as the following conditions are met:

     (a) the Issuer shall be the continuing entity, or the successor entity (if other than the
Issuer) formed by or resulting from any consolidation or merger or which shall have received the
transfer of assets shall expressly assume payment of the principal of and interest on all of the
Notes and the due and punctual performance and observance of all of the covenants and conditions in
this Indenture;

     (b) if as a result of such transaction the Notes become exchangeable into common stock or
other securities issued by a third party, such third party fully and unconditionally guarantees all
obligations under such Notes and this Indenture;

     (c) 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
occurred and be continuing; and

     (d) either the Issuer or the successor Person, as the case may be, shall have delivered to the
Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation,
merger, sale, lease or conveyance and, if a supplemental indenture is required in connection with
such transaction, such supplemental indenture comply with this Article 10 and that all conditions
precedent herein provided for relating to such transaction have been complied with.

     No such consolidation, merger, sale, lease or conveyance shall be permitted by this Section
10.01 unless prior thereto the Guarantor shall have delivered to the Trustee a Guarantor’s
Officers’ Certificate and an Opinion of Counsel, each stating that the Guarantor’s obligations
hereunder shall remain in full force and effect thereafter.

     Section 10.02 . Issuer Successor to Be Substituted. Upon any consolidation by the Issuer
with or merger of the Issuer into any other Person or any sale, lease or conveyance of all or
substantially all of the properties and assets of the Issuer to any Person in accordance with
Section 10.01, the successor Person formed by such consolidation or into which the Issuer is merged
or to which such sale, lease or conveyance is made shall succeed to, and be substituted for, and
may exercise every right and power of, the Issuer under this Indenture with the same effect as if
such successor Person had been named as the Issuer herein, and thereafter, except in the case of a
lease, the predecessor Person shall be released from all obligations and covenants under this
Indenture and the Notes.

     In case of any such consolidation, merger, sale, lease or conveyance, such changes in
phraseology and form (but not in substance) may be made in the Notes thereafter to be issued as may
be appropriate.

     Section 10.03
.. Guarantor May Consolidate on Certain Terms. Nothing contained in this
Indenture or in the Notes shall prevent any consolidation or merger of

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the Guarantor with or into any other Person or Persons (whether or not affiliated with the
Guarantor), or successive consolidations or mergers in which either the Guarantor will be the
continuing entity or the Guarantor or its successor or successors shall be a party or parties, or
shall prevent any sale, lease or conveyance of all or substantially all of the property of the
Guarantor, to any other Person (whether or not affiliated with the Guarantor) so long as the
following conditions are met:

     (a) the Guarantor shall be the continuing entity, or the successor entity (if other than the
Guarantor) formed by or resulting from any consolidation or merger or which shall have received the
transfer of assets shall expressly assume the obligations of the Guarantor under the Guarantee and
the due and punctual performance and observance of all of the covenants and conditions in this
Indenture;

     (b) if as a result of such transaction the Notes become exchangeable into common stock or
other securities issued by a third party, such third party fully and unconditionally guarantees all
obligations under the Notes and this Indenture;

     (c) 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; and

     (d) either the Guarantor or the successor Person, as the case may be, shall have delivered to
the Trustee an Officers’ Certificate, as the case may be, and an Opinion of Counsel, each stating
that such consolidation, merger, sale, lease or conveyance and if a supplemental indenture is
required in connection with such transaction, such supplemental indenture comply with this Article
10 and that all conditions precedent herein provided for relating to such transaction have been
complied with.

     Section 10.04 . Guarantor Successor to Be Substituted. Upon any consolidation by the
Guarantor with or merger of the Guarantor into any other Person or any sale, conveyance or lease of
all or substantially all of the properties and assets of the Guarantor to any Person in accordance
with Section 10.03, the successor Person formed by such consolidation or into which the Guarantor
is merged or to which such sale, conveyance or lease 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 Person had been named as the Guarantor herein, and thereafter, except
in the case of a lease, the predecessor Person shall be released from all obligations and covenants
under this Indenture.

     In case of any such consolidation, merger, sale, conveyance, transfer or lease, such changes
in phraseology and form (but not in substance) may be made in the Guarantee thereafter to be issued
as may be appropriate.

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ARTICLE 11

Satisfaction and Discharge of Indenture

     Section 11.01 . Satisfaction and Discharge of Indenture. This Indenture shall cease to be of
further effect (except as to any surviving rights of exchange or registration of transfer or
exchange of the Notes herein expressly provided for and except as provided below), and the Trustee,
upon Issuer Order and demand of and at the expense of the Issuer, shall execute instruments in form
and substance satisfactory to the Trustee and the Issuer acknowledging satisfaction and discharge
of this Indenture when:

     (a) either

     (i) all Notes theretofore authenticated and delivered (other than (A) Notes which have
been destroyed, lost or stolen and which have been replaced or paid as provided in Section
11.04, and (B) Notes for whose payment money has theretofore been deposited in trust or
segregated and held in trust by the Issuer and thereafter repaid to the Issuer or
discharged from such trust, as provided in Section 11.04) have been delivered to the
Trustee for cancellation; or

     (ii) all such Notes not theretofore delivered to the Trustee for cancellation have
become due and payable,

and the Issuer has irrevocably (except as provided in the second proviso to Section 11.05)
deposited or caused to be deposited with the Trustee, a Paying Agent or the Exchange Agent (other
than the Issuer or any of its Affiliates), as applicable, as trust funds in trust cash and/or
shares of Common Stock (as applicable under the terms of this Indenture) in an amount sufficient to
pay and discharge the entire indebtedness on such Notes not theretofore delivered to the Trustee
for cancellation, for principal (and premium, if any) and interest to the date of such deposit (in
the case of Notes which have become due and payable) or to the Stated Maturity or Redemption Date
or Designated Redemption Date, as the case may be;

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

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

     Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the
Issuer to the Trustee and any predecessor Trustee under Section 7.06 and, if money shall have been
deposited with and held by the Trustee pursuant to subclause (ii) of clause (a) of this Section
11.01, the provisions of Sections 2.05, 2.06, 2.07 and 3.07 and Article 13 and this Article 11
shall survive until the Notes have been paid in full.

     Notwithstanding the reference to premium under subclause (ii) of clause (a) of this Section
11.01, the Issuer shall not be required to deposit pursuant thereto any

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premium that would be payable on the Notes only upon acceleration of the maturity thereof
pursuant to Section 6.01.

     Section 11.02 . Application of Trust Funds. All money deposited with the Trustee pursuant to
Section 11.01 shall be held in trust and applied by it, in accordance with the provisions of the
Notes and this Indenture, to the payment, either directly or through any Paying Agent (including
the Issuer acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled
thereto, of the principal (and premium, if any), and any interest for whose payment such money has
been deposited with or received by the Trustee, but such money need not be segregated from other
funds except to the extent required by law. All moneys deposited with the Trustee (and held by it
or any Paying Agent) for the payment of Notes subsequently exchanged shall be returned to the
Issuer upon request.

     Section 11.03 . Paying Agent to Repay Monies Held. Subject to the provisions of Section
11.04 the Trustee or a Paying Agent shall hold in trust, for the benefit of the Noteholders, all
money deposited with it pursuant to Section 11.01 and shall apply the deposited money in accordance
with this Indenture and the Notes to the payment of the principal of (including the Redemption
Price or repurchase price upon redemption or repurchase pursuant to Article 3) and interest on the
Notes.

     Section 11.04 . Return of Unclaimed Monies. The Trustee and each Paying Agent shall pay to
the Issuer upon request any money held by them for the payment of principal or interest that
remains unclaimed for two years after a right to such money has matured; provided, however, that
the Trustee or such Paying Agent, before being required to make any such payment, may, at the
expense of the Issuer, either publish in a newspaper of general circulation in The City of New
York, or cause to be mailed to each Holder entitled to such money, notice that such money remains
unclaimed and that after a date specified therein, which shall be at least thirty (30) calendar
days from the date of such mailing or publication, any unclaimed balance of such money then
remaining will be repaid to the Issuer. After payment to the Issuer, Holders entitled to money must
look to the Issuer for payment as general creditors unless an applicable abandoned property law
designates another person, and the Trustee and each Paying Agent shall be relieved of all liability
with respect to such money.

     Section 11.05 . Reinstatement. If the Trustee or the Paying Agent is unable to apply any
money in accordance with this Article 11 by reason of any order or judgment of any court or
governmental authority enjoining, restraining or otherwise prohibiting such application, the
Issuer’s obligations under this Indenture and the Notes shall be revived and reinstated as though
no deposit had occurred pursuant to this Article 11 until such time as the Trustee or Paying Agent
is permitted to apply all money held in trust with respect to the Notes; provided, however, that if
the Issuer makes any payment of principal of or any premium or interest on any Notes following the
reinstatement of its obligations, the Issuer shall be subrogated to the rights of the Holders of
the Notes to receive such payment from the money so held by the Trustee or Paying Agent in trust;
provided, further, that, if the Issuer’s obligations are revived and reinstated as herein provided,
the Trustee or Paying Agent shall discharge from trust and pay to the Issuer all

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funds (together with the earnings thereon, if any) previously deposited therewith pursuant to
Section 11.02 and thereupon the Issuer, the Trustee, any Paying Agent and the holders of the Notes
shall be restored severally and respectively to their former positions hereunder as if no
satisfaction and discharge had been effected.

ARTICLE 12

Immunity of Incorporators, Stockholders, Officers and Directors

     Section 12.01 . Indenture and Notes Solely Corporate Obligations. Except as otherwise
expressly provided in Article 15, no recourse for the payment of the principal of (including the
Redemption Price or repurchase price upon redemption or repurchase pursuant to Article 3) or,
premium, if any, or interest on any Note, or for any claim based thereon or otherwise in respect
thereof, and no recourse under or upon any obligation, covenant or agreement of the Issuer in this
Indenture or in any supplemental indenture or in any Note, or because of the creation of any
indebtedness represented thereby, shall be had against any incorporator, stockholder, partner,
member, manager, employee, agent, officer, director or subsidiary, as such, past, present or
future, of the Guarantor, the Issuer or any of the Guarantor’s subsidiaries or of any successor
thereto, either directly or through the Guarantor, the Issuer or any of the Guarantor’s
subsidiaries or of any successor thereto, whether by virtue of any constitution, statute or rule of
law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood
that all such liability is hereby expressly waived and released as a condition of, and as a
consideration for, the execution of this Indenture and the issue of the Notes.

ARTICLE 13

Exchange Of Notes

     Section 13.01 . Right to Exchange. (a) Upon compliance with the provisions of this
Indenture, on or prior to the close of business on the second Business Day immediately preceding
the Maturity Date, the Holder of any Notes not previously redeemed or repurchased shall have the
right, at such Holder’s option, to exchange its Notes, or any portion thereof which is a multiple
of $1,000, into cash and, if applicable, Common Stock, as provided in Section 13.10, by surrender
of such Notes so to be exchanged in whole or in part, together with any required funds, under the
circumstances and in the manner described in this Article 13. Holders may exchange their Notes at
any time on or after August 15, 2011 until the close of business on the second Business Day
immediately preceding the Maturity Date. In addition, Holders may exchange their Notes at any time
prior to August 15, 2011 only upon occurrence of one of the following events:

     (i) Exchange Upon Satisfaction of Market Price Condition. A Holder may surrender any
of its Notes for exchange during any calendar quarter beginning after December 31, 2006
(and only during such calendar quarter) if the Closing Sale Price of the Common Stock for
at least twenty (20) Trading Days in the period of thirty (30) consecutive Trading Days
ending on the last Trading Day of the preceding calendar quarter is more than 120% of the
Exchange Price per

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share of Common Stock in effect on the applicable Trading Day. The Board of Directors
will make appropriate adjustments, in its good faith determination, to account for any
adjustment to the Exchange Rate that becomes effective, or any event requiring an
adjustment to the Exchange Rate where the ex-dividend date of the event occurs, during that
thirty (30) consecutive Trading Day period.

     The Trustee (or other Exchange Agent appointed by the Issuer) shall, on behalf of the
Issuer, determine on a daily basis during the time period specified in this Section
13.01(a)(i) whether the Notes shall be exchangeable as a result of the occurrence of an
event specified in this clause (i) and, if the Notes shall be so exchangeable, the Trustee
(or other Exchange Agent appointed by the Issuer) shall promptly deliver to the Issuer and
the Trustee (if the Trustee is not the Exchange Agent) written notice thereof.

     (ii) Exchange Upon Satisfaction of Trading Price Condition. A Holder may surrender any
of its Notes for exchange during the five (5) consecutive Trading Day period following any
five (5) consecutive Trading Days in which the Trading Price per $1,000 principal amount of
Notes (as determined following a reasonable request by a Holder of the Notes) was less than
98% of the product of the Closing Sale Price of the Common Stock, multiplied by the
Applicable Exchange Rate.

     “Trading Price” of the Notes on any date of determination means the average of the
secondary market bid quotations per $1,000 principal amount of such Notes obtained by the
Trustee for a $2,000,000 principal amount of Notes at approximately 3:30 p.m., New York
City time, on such determination date from two independent nationally recognized securities
dealers the Issuer selects, which may include the Initial Purchasers; provided that if at
least two such bids cannot reasonably be obtained by the Trustee, but one such bid can
reasonably be obtained by the Trustee, then one bid shall be used. If the Trustee cannot
reasonably obtain at least one bid for a $2,000,000 principal amount of such Notes from a
nationally recognized securities dealer or, in the Issuer’s reasonable judgment, the bid
quotations are not indicative of the secondary market value of such Notes, then the Trading
Price per $1,000 principal amount of such Notes will be deemed to be less than 98% of the
product of the Closing Sale Price of Common Stock and the Applicable Exchange Rate on such
determination date.

     The Trustee shall have no obligation to determine the Trading Price of the Notes
unless the Issuer shall have requested such determination, and the Issuer shall have no
obligation to make such request unless a Holder provides the Issuer with reasonable
evidence that the Trading Price per $1,000 principal amount of Notes would be less than 98%
of the product of the Closing Sale Price per share of Common Stock and the Applicable
Exchange Rate, whereupon the Issuer shall instruct the Trustee to determine the Trading
Price of the Notes beginning on the next Trading Day and on each successive Trading Day
until the Trading Price is greater than or equal to 98% of the product of the Closing Sale
Price per share of Common Stock and the Applicable Exchange Rate. If the Issuer does not so

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instruct the Trustee after a Holder of Notes provides the Issuer with reasonable
evidence that the Trading Price per $1,000 principal amount of Notes would be less than 98%
of the product of the Closing Sale Price per share of Common Stock and the Applicable
Exchange Rate, the Trading Price of the Notes will be deemed to be less than 98% of the
Closing Sale Price multiplied by the Applicable Exchange Rate on each Trading Day the
Issuer fails to do so.

     (iii) Exchange Upon Notice of Redemption. A Holder may surrender for exchange any of
the Notes called for redemption at any time prior to the close of business on the second
Business Day prior to Redemption Date, even if the Notes are not otherwise exchangeable at
such time. The right to exchange Notes pursuant to this clause (iii) shall expire after the
close of business on the second Business Day immediately preceding the Redemption Date,
unless the Issuer defaults in payment of the Redemption Price.

     (iv) Exchange Upon Specified Transactions. If the Guarantor elects to: (1) distribute
to all holders of the Common Stock any rights, warrants or options entitling them for a
period of not more than forty five (45) days after the issuance thereof to subscribe for or
purchase Common Stock at an exercise price per share of Common Stock less than the Closing
Sale Price of Common Stock on the Business Day immediately preceding the time of
announcement of such issuance; or (2) distribute to all holders of Common Stock assets,
debt securities or certain rights to purchase securities of the Issuer or the Guarantor,
which distribution (excluding for this purpose a distribution solely in the form of cash
required to preserve the status of the Guarantor as a real estate investment trust) has a
per share value exceeding 10% of the average of the Closing Sale Prices of the Common Stock
for the five (5) consecutive Trading Days ending on the date immediately preceding the
declaration date of such distribution, the Issuer must notify the Holders of Notes at least
seventy (70) Scheduled Trading Days prior to the ex-dividend date for such distribution
described in clause (1) or clause (2).

     Following the issuance of such notice, Holders may surrender their Notes for exchange
at any time until the earlier of the close of business on the Business Day prior to the
ex-dividend date or an announcement that such distribution will not take place; provided,
however, that no adjustment to the ability of the Holders of Notes to exchange their Notes
will be made if the Holders of Notes, as a result of holding the Notes, are entitled to
participate at the same time as Common Stock holders participate in such transaction or
distribution as if such Holders of the Notes held a number shares of Common Stock equal to
the Applicable Exchange Rate, multiplied by the principal amount (expressed in thousands)
of Notes held by such Holder, without having to exchange their Notes. The “ex-dividend
date” means, with respect to any distribution on shares of Common Stock, the first date
upon which a sale of the Common Stock does not automatically transfer the right to receive
the relevant distribution from the seller of the Common Stock to its buyer.

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     In addition, (1) if the Guarantor is a party to a share exchange or tender offer,
liquidation, consolidation, recapitalization, reclassification, combination or merger, or a
sale or lease or other transfer of all or substantially all of its respective properties
and assets, or a series of related transactions or events, in each case pursuant to which
all of the outstanding Common Stock would be exchanged for, converted into or constitute
solely the right to receive cash, securities or other property, or (2) if a Designated
Event occurs, a Holder may surrender its Notes for exchange at any time from and including
the date that is seventy (70) Business Days prior to the anticipated effective time of the
transaction or event up to and including thirty-five (35) Business Days after the actual
date of such transaction or event, unless such transaction also constitutes a Designated
Event, in which case the Notes may be surrendered for exchange until the related Designated
Event Repurchase Date. The Issuer will notify Holders of Notes as promptly as reasonably
practicable following the date such transaction or event is publicly announced (but in no
event less than seventy (70) Business Days prior to the effective time of such transaction
or event).

     If the Guarantor is a party to a consolidation, merger, binding share exchange,
reclassification or sale or conveyance of all or substantially all of its properties and
assets, in each case pursuant to which all of the Common Stock is exchanged for cash,
securities or other property, then at the effective time of the transaction, the Daily
VWAP, each Daily Settlement Amount and each Daily Exchange Value will be calculated based
on the kind and amount of cash, securities or other property that a holder of such a number
of shares of Common Stock equal to the Applicable Exchange Rate would have received in such
transaction. For purposes of the foregoing, where a consolidation, merger or binding share
exchange involves a transaction that causes shares of Common Stock to be exchanged into the
right to receive more than a single type of consideration based upon any form of
shareholder election, such consideration will be deemed to be the weighted average of the
types and amounts of consideration received by the holders of Common Stock that
affirmatively make such an election.

     (v) Exchange Upon Delisting of the Common Stock. A Holder may surrender for exchange
any of its Notes at any time beginning on the first Business Day after the Common Stock has
ceased to be listed on a U.S. national or regional securities exchange for thirty (30)
consecutive Trading Days.

     (b) Whenever the Notes shall become exchangeable pursuant to this Section 13.01, the Issuer
or, at the Issuer’s Request, the Trustee in the name and at the expense of the Issuer, shall notify
the Holders of the event triggering such exchangeability in the manner provided in Section 16.03,
and the Issuer shall also publicly announce such information and publish it on the Issuer’s
website. Any notice so given shall be conclusively presumed to have been duly given, whether or not
the Holder receives such notice.

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     (c) A Note in respect of which a Holder has delivered a Designated Event Repurchase Notice
exercising such Holder’s right to require the Issuer to repurchase such Note pursuant to Section
3.05 may be exchanged only if such Designated Event Repurchase Notice is withdrawn in accordance
with Section 3.08 prior to the close of business on the second Business Day immediately prior to
the Designated Event Repurchase Date, as applicable.

     (d) A Holder of Notes is not entitled to any rights of a Holder of Common Stock until the
close of business on the last Trading Day of the Applicable Observation Period for the exchange in
connection with which it is entitled to receive shares of Common Stock.

     Section 13.02 . Exercise of Exchange Right; No Adjustment for Interest or Dividends. In
order to exercise the exchange right with respect to any Note in certificated form, the Issuer must
receive at the office or agency of the Issuer maintained for that purpose in the Borough of
Manhattan or, at the option of such Holder, the Corporate Trust Office, such Note with the original
or facsimile of the form entitled “Exchange Notice” on the reverse thereof, duly completed and
signed manually or by facsimile, together with such Notes duly endorsed for transfer, accompanied
by the funds, if any, required by this Section 13.02. Such notice shall also state the name or
names (with address or addresses) in which the certificate or certificates for shares of Common
Stock that shall be issuable on such exchange shall be issued, and shall be accompanied by transfer
or similar taxes, if required pursuant to Section 13.06.

     To exchange the Notes, a Holder must (a) complete and manually sign the Exchange Notice on the
reverse of the Note (or complete and manually sign a facsimile of such notice) and deliver such
notice to the Exchange Agent at the office maintained by the Exchange Agent for such purpose, (b)
with respect to Notes that are in certificated form, surrender the Notes to the Exchange Agent, (c)
furnish appropriate endorsements and transfer documents if required by the Exchange Agent and (d)
pay any transfer or similar tax, if required. The date on which the Holder satisfies all such
requirements shall be deemed to be the date on which the applicable Notes shall have been tendered
for exchange.

     Whether the Notes to be exchanged are held in book-entry or certificated form, the Exchange
Notice will require the Holder to certify that it is a qualified institutional buyer within the
meaning of Rule 144A under the Securities Act.

     Notes in respect of which a Holder has delivered a Designated Event Repurchase Notice may be
exchanged only if such notice is withdrawn in accordance with the terms of Section 3.08.

     If the Issuer is required to deliver shares of Common Stock (upon settlement in accordance
with Sections 13.10 and 13.11, if applicable, on the third Business Day immediately following the
last day of the Applicable Observation Period), after satisfaction of the requirements for exchange
set forth above, subject to compliance with any restrictions on transfer if shares issuable on
exchange are to be issued in a name other

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than that of the Noteholder (as if such transfer were a transfer of the Note or Notes (or
portion thereof) so exchanged), and in accordance with the time periods set forth in this Article
13, the Issuer shall issue and shall deliver to such Noteholder at the office or agency maintained
by the Issuer for such purpose pursuant to Section 4.02, (i) a certificate or certificates for the
number of full shares of Common Stock (if any) issuable upon the exchange of such Note or portion
thereof as determined by the Issuer in accordance with the provisions of Sections 13.10 and 13.11
and (ii) a check or cash in respect of any fractional interest in respect of a share of Common
Stock arising upon such exchange, calculated by the Issuer as provided in Section 13.03. The cash,
and, if applicable, a certificate or certificates for the number of full shares of Common Stock
into which the Notes are exchanged (and cash in lieu of fractional shares) will be delivered to an
exchanging Holder after satisfaction of the requirements for exchange set forth above, in
accordance with this Section 13.02 and Sections 13.10 and, if applicable, 13.11.

     Each exchange shall be deemed to have been effected as to any such Note (or portion thereof)
on the date on which the requirements set forth above in this Section 13.02 have been satisfied as
to such Note (or portion thereof) (the “Exchange Date”), and the Person in whose name any
certificate or certificates for shares of Common Stock shall be issuable upon such exchange shall
be deemed to have become on said date the holder of record of the shares represented thereby;
provided that any such surrender on any date when the stock transfer books of the Guarantor shall
be closed shall constitute the Person in whose name the certificates are to be issued as the record
holder thereof for all purposes on the next succeeding day on which such stock transfer books are
open, but such exchange shall be at the Exchange Rate in effect on the Exchange Date.

     Any Note or portion thereof surrendered for exchange during the period from the close of
business on the Record Date for any interest payment date to the close of business on the
applicable interest payment date shall be accompanied by payment, in immediately available funds or
other funds acceptable to the Issuer, of an amount equal to the interest otherwise payable on such
interest payment date on the principal amount being exchanged; provided that no such payment need
be made (1) if a Holder exchanges its Notes in connection with a redemption and the Issuer has
specified a Redemption Date that is after a Record Date and on or prior to the Business Day
immediately succeeding the corresponding interest payment date, (2) if a Holder exchanges its Notes
in connection with a Designated Event and the Issuer has specified a Designated Event Repurchase
Date that is after a Record Date and on or prior to the Business Day immediately succeeding the
corresponding interest payment date, (3) with respect to any exchange on or following the Record
Date immediately preceding the Maturity Date, or (4) to the extent of any Defaulted Interest, if
any Defaulted Interest exists at the time of exchange with respect to such Note. Except as
otherwise provided above in this Article 13, no payment or other adjustment shall be made for
interest accrued on any Note exchanged or for dividends on any shares issued upon the exchange of
such Note as provided in this Article 13. Notwithstanding the foregoing, in the case of Notes
submitted for exchange in connection with a Designated Event, such Notes shall continue to
represent the right to receive the Additional Designated Event Shares, if any, payable pursuant to
Section 13.11, until such Additional Designated Event Shares are so paid.

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     Upon the exchange of an interest in a Global Note, the Trustee (or other Exchange Agent
appointed by the Issuer), or the Custodian at the direction of the Trustee (or other Exchange Agent
appointed by the Issuer), shall make a notation on such Global Note as to the reduction in the
principal amount represented thereby. The Issuer shall notify the Trustee in writing of any
exchanges of Notes effected through any Exchange Agent other than the Trustee.

     Upon the exchange of a Note, the accrued but unpaid interest attributable to the period from
the issue date of the Note to the Exchange Date, with respect to the exchanged Note, shall not be
deemed canceled, extinguished or forfeited, but rather shall be deemed to be paid in full to the
Holder thereof through delivery of cash and, if applicable, shares of Common Stock (together with
the cash payment, if any in lieu of fractional shares) in exchange for the Note being exchanged
pursuant to the provisions hereof.

     In case any Note of a denomination greater than $1,000 shall be surrendered for partial
exchange, and subject to Section 2.04, the Issuer shall execute and upon receipt of such new Note
or Notes the Trustee shall authenticate and deliver to the Holder of the Note so surrendered,
without charge to the Holder, a new Note or Notes in authorized denominations in an aggregate
principal amount equal to the unexchanged portion of the surrendered Note.

     Section 13.03 . Cash Payments in Lieu of Fractional Shares. No fractional shares of Common
Stock or scrip certificates representing fractional shares shall be issued upon exchange of Notes.
If more than one Note shall be surrendered for exchange at one time by the same Holder, the number
of full shares that shall be issuable upon exchange shall be computed on the basis of the aggregate
principal amount of the Notes (or specified portions thereof to the extent permitted hereby) so
surrendered and the aggregate sum of all Daily Settlement Amounts for each of the 60 Trading Days
during the Applicable Observation Period (and not in respect of each Daily Settlement Amount nor
some portion of the Daily Settlement Amounts for one or some portion of the 60 Trading Days during
the Applicable Observation Period). If any fractional share of Common Stock would be issuable upon
the exchange of any Note or Notes, the Issuer shall make an adjustment and payment therefor in cash
to the Holder of Notes at a price equal to the Closing Sale Price of Common Stock on the last day
of the Applicable Observation Period.

     Section 13.04 . Exchange Rate. The initial Exchange Rate for the Notes is 60.3346 shares of
Common Stock per each $1,000 principal amount of the Notes, subject to adjustment as provided in
Sections 13.05 and 13.11 (herein called the “Exchange Rate”).

     Section 13.05 . Adjustment of Exchange Rate. The Exchange Rate shall be adjusted from time
to time as follows:

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     (a) If the Guarantor issues Common Stock as a dividend or distribution on the Common Stock to
all holders of Common Stock, or if the Guarantor effects a share split or share combination, the
Exchange Rate will be adjusted based on the following formula:

     ER1 = ER0 × OS1/OS0

 where

ER0 = the Exchange Rate in effect immediately prior to the ex-dividend date for
such dividend or distribution, or the effective date of such share split or share
combination;

ER1 = the new Exchange Rate in effect immediately on and after the ex-dividend
date for such dividend or distribution, or the effective date of such share split or share
combination;

OS0
= the number of shares of Common Stock outstanding immediately
prior to such dividend or distribution, or the effective date of such share split or share
combination; and

OS1 = the number of shares of Common Stock outstanding immediately after such
dividend or distribution, or the effective date of such share split or share combination.

Any adjustment made pursuant to this paragraph (a) shall become effective as of the open of
business on (x) the ex-dividend date for such dividend or other distribution or (y) the date on
which such split or combination becomes effective, as applicable. If any dividend or distribution
described in this paragraph (a) is declared but not so paid or made, the new Exchange Rate shall be
readjusted to the Exchange Rate that would then be in effect if such dividend or distribution had
not been declared.

     (b) If the Guarantor distributes to all holders of Common Stock any rights, warrants or
options entitling them for a period of not more than 45 days after the date of issuance thereof to
subscribe for or purchase Common Stock, in any case at an exercise price per share of Common Stock
less than the Closing Sale Price of the Common Stock on the Business Day immediately preceding the
time of announcement of such issuance, the Exchange Rate will be adjusted based on the following
formula:

ER1 = ER0 × (OS0 + X)/(OS0
+ Y)

where

ER0 = the Exchange Rate in effect immediately prior to the ex-dividend date for
such distribution;

ER1 = the new Exchange Rate in effect immediately on and after the ex-dividend
date for such distribution;

OS0 = the number of shares of Common Stock outstanding immediately prior to the
ex-dividend date for such distribution;

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X = the aggregate number of shares of Common Stock issuable pursuant to such rights,
warrants or options; and

Y = the number of shares of Common Stock equal to the quotient of (A) the aggregate price
payable to exercise such rights, warrants or options and (B) the average of the Closing
Sale Prices of the Common Stock for the 10 consecutive Trading Days ending on the Business
Day immediately preceding the date of announcement for the issuance of such rights,
warrants or options.

For purposes of this paragraph (b), in determining whether any rights, warrants or options entitle
the holders to subscribe for or purchase Common Stock at less than the applicable Closing Sale
Price of the Common Stock, and in determining the aggregate exercise or conversion price payable
for such Common Stock, there shall be taken into account any consideration received by the
Guarantor for such rights, warrants or options and any amount payable on exercise or conversion
thereof, with the value of such consideration, if other than cash, to be determined by the Board of
Directors. If any right, warrant or option described in this paragraph (b) is not exercised or
converted prior to the expiration of the exercisability or convertibility thereof, the new Exchange
Rate shall be readjusted to the Exchange Rate that would then be in effect if such right, warrant
or option had not been so issued.

     (c) If the Guarantor distributes shares of capital stock, evidences of indebtedness or other
assets or property of the Guarantor to all holders of Common Stock, excluding:

     (A) dividends, distributions, rights, warrants or options referred to in
paragraph (a) or (b) above;

     (B) dividends or distributions paid exclusively in cash; and

     (C) Spin-Offs described below in this paragraph (c),

then the Exchange Rate will be adjusted based on the following formula:

     ER1
= ER0 × SP0/(SP0 – FMV)

where

     ER0 = the Exchange Rate in effect immediately prior to the ex-dividend date
for such distribution;

     ER1 = the new Exchange Rate in effect immediately on and after the
ex-dividend date for such distribution;

     SP0 = the Closing Sale Price of Common Stock on the Trading Day immediately
preceding the earlier of the record date or the ex-dividend date for such distribution;
and

     FMV = the fair market value (as determined in good faith by the Board of Directors) of
the shares of capital stock, evidences of indebtedness, assets or

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property distributed with respect to each outstanding share of Common Stock on the
earlier of the record date or the ex-dividend date for such distribution;

provided that if “FMV” with respect to any distribution of shares of capital stock, evidences of
indebtedness or other assets or property of the Guarantor is equal to or greater than
“SP0” with respect to such distribution, then in lieu of the foregoing adjustment,
adequate provision shall be made so that each holder of Notes shall have the right to receive on
the date such shares of capital stock, evidences of indebtedness or other assets or property of the
Guarantor are distributed to holders of Common Stock, for each Note, the amount of shares of
capital stock, evidences of indebtedness or other assets or property of the Guarantor such holder
of Notes would have received had such holder of Notes owned a number of shares of Common Stock
equal to a fraction the numerator of which is the product of the Exchange Rate in effect
immediately prior to the ex-dividend date for such distribution, and the aggregate principal amount
of Notes held by such Holder and the denominator of which is one thousand ($1,000). An adjustment
to the Exchange Rate made pursuant to the immediately preceding paragraph shall become effective on
the ex-dividend date for such distribution.

     If the Guarantor distributes to all holders of Common Stock capital stock of any class or
series, or similar equity interest, of or relating to a subsidiary or other business unit of the
Guarantor (a “Spin-Off”), the Exchange Rate in effect immediately following the 10th Trading Day
from and including the effective date of the Spin-Off will be adjusted based on the following
formula:

     ER1 = ER0 × (FMV0 + MP0)/MP0

where

     ER0 = the Exchange Rate in effect on the 10th Trading Day immediately
following, and including, the effective date of the Spin-Off;

     ER1 = the new Exchange Rate immediately after the 10th Trading Day
immediately following, and including, the effective date of the Spin-Off;

     FMV0 = the average of the Closing Sale Prices of the capital stock or
similar equity interest distributed to holders of Common Stock applicable to one share
of Common Stock over the first 10 consecutive Trading Days after the effective date of
the Spin-Off; and

     MP0
= the average of the Closing Sale Prices of the Common Stock over the
first 10 consecutive Trading Days after the effective date of the
Spin-Off.

An adjustment to the Exchange Rate made pursuant to the immediately preceding paragraph will occur
on the 10th Trading Day from and including the effective date of the Spin-Off; provided that in
respect of any exchange within the 10 Trading Days following the effective date of any Spin-Off,
references within this paragraph (c) to 10 Trading Days shall be deemed replaced with such lesser
number of Trading Days as have elapsed between the effective date of such Spin-Off and the Exchange
Date in determining the

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Applicable Exchange Rate. If any such dividend or distribution described in this paragraph (c)
is declared but not paid or made, the new Exchange Rate shall be readjusted to be the Exchange Rate
that would then be in effect if such dividend or distribution had not been declared.

     (d) If the Guarantor distributes cash to all or substantially all holders of outstanding
Common Stock (excluding any dividend or distribution in connection with the liquidation,
dissolution or winding up or any regular quarterly cash dividend on the Common Stock to the extent
that the aggregate amount of such regular quarterly cash dividend per share of Common Stock does
not exceed $0.26 for the relevant quarterly period ($0.26 being the “Reference Dividend Amount”)),
the Exchange Rate will be adjusted based on the following formula:

ER1
= ER0 x SP0 /(SP0 – C)

where

ER0 = the Exchange Rate in effect immediately prior to the ex-dividend date
for such distribution;

ER1 = the new Exchange Rate immediately on and after the ex-dividend date
for such distribution;

SP0 = the Closing Sale Price of Common Stock on the Trading Day immediately
preceding the earlier of the record date or the day prior to the ex-dividend date for
such distribution; and

C = the amount in cash per share that the Guarantor distributes to holders of Common
Stock that exceeds the Reference Dividend Amount;

provided that if “C” with respect to any such cash dividend or distribution is equal to or greater
than “SP0” with respect to any such cash dividend or distribution, then in lieu of the
foregoing adjustment, adequate provision shall be made so that each holder of Notes shall have the
right to receive on the date such cash is distributed to holders of Common Stock, for each Note,
the amount of cash such holder of Notes would have received had such holder of Notes owned a number
of shares of Common Stock equal to a fraction the numerator of which is the product of the Exchange
Rate in effect immediately prior to the ex-dividend date for such dividend or distribution, and the
aggregate principal amount of Notes held by such Holder and the denominator of which is one
thousand ($1,000).

     An adjustment to the Exchange Rate made pursuant to this paragraph (d) shall become effective
on the ex-dividend date for such dividend or distribution. If any dividend or distribution
described in this paragraph (d) is declared but not so paid or made, the new Exchange Rate shall be
readjusted to the Exchange Rate that would then be in effect if such dividend or distribution had
not been declared.

     The Reference Dividend amount is subject to adjustment in a manner inversely proportional to
adjustments to the Exchange Rate; provided that no adjustment will be

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made to the Reference Dividend amount for any adjustment made to the Exchange Rate under this
paragraph (d).

     Notwithstanding the foregoing, if an adjustment is required to be made under this paragraph as
a result of a distribution that is not a quarterly dividend, the Reference Dividend will be deemed
to be zero.

     (e) If the Guarantor or any of its Subsidiaries makes a payment in respect of a tender offer
or exchange offer for Common Stock to the extent that the cash and value of any other consideration
included in the payment per share of Common Stock exceeds the Closing Sale Price of a share of
Common Stock on the Trading Day next succeeding the last date on which tenders or exchanges may be
made pursuant to such tender offer or exchange offer (the “Expiration Time”), the Exchange Rate
will be adjusted based on the following formula:

ER1 = ER0 x (AC + (SPI x
OS1))/(SP1 x OS0)

where

ER0 = the Exchange Rate in effect on the Trading Day immediately following
the date such tender offer or exchange offer expires;

ER1 = the Exchange Rate in effect on the second Trading Day immediately
following the date such tender offer or exchange offer expires;

AC = the aggregate value of all cash and any other consideration (as determined by the
Board of Directors) paid or payable for the Common Stock purchased in such tender or
exchange offer;

OS0 = the number of shares of Common Stock outstanding immediately prior to
the date such tender offer or exchange offer expires;

OS1 = the number of shares of Common Stock outstanding immediately after the
date such tender or exchange offer expires (after giving effect to the purchase or
exchange of shares pursuant to such tender offer or exchange offer); and

SP1 = the Closing Sale Price of the Common Stock for the Trading Day next
succeeding the date such tender offer or exchange offer expires.

If the application of the foregoing formula would result in a decrease in the Exchange Rate, no
adjustment to the Exchange Rate will be made. Any adjustment to the Exchange Rate made pursuant to
this paragraph (e) shall become effective on the second day immediately following the Expiration
Time. If the Guarantor or one of its Subsidiaries is obligated to purchase Common Stock pursuant to
any such tender offer or exchange offer but is permanently prevented by applicable law from
effecting any such purchase or all such purchases are rescinded, the new Exchange Rate shall be
readjusted to be the Exchange Rate that would be in effect if such tender offer or exchange offer
had not been made.

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     (f) [Reserved]

     (g) If the Guarantor has in effect a rights plan while any Notes remain outstanding, Holders
of Notes will receive, upon an exchange of Notes, in addition to Common Stock, if any, rights under
the Guarantor’s stockholder rights agreement unless, prior to exchange, the rights have expired,
terminated or been redeemed or unless the rights have separated from the Common Stock. If the
rights provided for in the rights plan adopted by the Guarantor have separated from the Common
Stock in accordance with the provisions of the applicable stockholder rights agreement so that
Holders of Notes would not be entitled to receive any rights in respect of any shares of Common
Stock delivered upon an exchange of Notes, the Exchange Rate will be adjusted at the time of
separation as if the Guarantor had distributed, to all holders of Common Stock, capital stock,
evidences of indebtedness or other assets or property pursuant to paragraph (c) above, subject to
readjustment upon the subsequent expiration, termination or redemption of the rights.

     In addition to the adjustments pursuant to paragraphs (a) through (e) above, the Issuer may
increase the Exchange Rate in order to avoid or diminish any income tax to holders of Common Stock
resulting from any dividend or distribution of capital stock (or rights to acquire Common Stock) or
from any event treated as such for income tax purposes. The Issuer may also, from time to time, to
the extent permitted by applicable law, increase the Exchange Rate by any amount for any period if
the Issuer has determined that such increase would be in the best interests of the Issuer or the
Guarantor. If the Issuer makes such determination, it will be conclusive and the Issuer will mail
to Holders of the Notes a notice of the increased Exchange Rate and the period during which it will
be in effect at least fifteen (15) days prior to the date the increased Exchange Rate takes effect
in accordance with applicable law.

     The Issuer shall not make any adjustment to the Exchange Rate if Holders of the Notes
participate in the dividend, distribution or transaction that would otherwise result in an
adjustment to the Exchange Rate at the same time as holders of the Common Stock and as if such
Holders of Notes owned a number of shares of Common Stock equal to a fraction the numerator of
which is the product of the Exchange Rate in effect on the ex-dividend date or effective date for
the relevant dividend, distribution or transaction, and the aggregate principal amount of Notes
held by such Holder and the denominator of which is one thousand ($1,000).

     Notwithstanding anything to the contrary contained herein, in addition to the other events set
forth herein on account of which no adjustment to the Exchange Rate shall be made, the Applicable
Exchange Rate shall not be adjusted for:

     (i) the issuance of any Common Stock pursuant to any present or future plan providing
for the reinvestment of dividends or interest payable on securities of the Issuer or those
of the Guarantor and the investment of additional optional amounts in the Common Stock
under any plan;

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     (ii) the issuance of any the Common Stock or options or rights to purchase those shares pursuant to any present or future employee, director, trustee or consultant benefit
plan, employee agreement or arrangement or program of the Issuer or the Guarantor;

     (iii) the issuance of any the Common Stock pursuant to any option, warrant, right, or
exercisable, exchangeable or convertible security outstanding as of the date the Notes were
first issued;

     (iv) a change in the par value of the Common Stock;

     (v) accumulated and unpaid dividends or distributions; and

     (vi) the issuance of Units by the Issuer and the issuance of the Common Stock or the
payment of cash upon redemption thereof.

     No adjustment in the Exchange Rate will be required unless the adjustment would require an
increase or decrease of at least 1% of the Exchange Rate. If the adjustment is not made because the
adjustment does not change the Exchange Rate by at least 1%, then the adjustment that is not made
will be carried forward and taken into account in any future adjustment. All required calculations
will be made to the nearest cent or 1/1000th of a share, as the case may be. Notwithstanding the
foregoing, on each annual anniversary of the first original issuance date of the Notes, and on
August 15, 2011, all adjustments not previously made will be made on such date.

     Whenever the Exchange Rate is adjusted as herein provided, the Guarantor or the Issuer shall
as promptly as reasonably practicable file with the Trustee and any Exchange Agent other than the
Trustee an Officers’ Certificate setting forth the Exchange Rate after such adjustment and setting
forth a brief statement of the facts requiring such adjustment. Promptly after delivery of such
certificate, the Guarantor or the Issuer shall prepare a notice of such adjustment of the Exchange
Rate setting forth the adjusted Exchange Rate and the date on which each adjustment becomes
effective and shall mail such notice of such adjustment of the Exchange Rate to the Holders of the
Notes within 20 Business Days of the Effective Date of such adjustment. Failure to deliver such
notice shall not affect the legality or validity of any such adjustment.

     For purposes of this Section 13.05, the number of shares of Common Stock at any time
outstanding shall not include shares held in the treasury of the Guarantor but shall include shares
issuable in respect of scrip certificates issued in lieu of fractions of shares of Common Stock.

     If any of the following events occur, namely (i) any reclassification or change of the
outstanding Common Stock (other than a subdivision or combination to which Section 13.05(a)
applies), (ii) any consolidation, merger or combination of the Guarantor with another Person, or a
binding share exchange in respect of all of the outstanding Common Stock as a result of which
holders of Common Stock shall be entitled to receive stock, other securities or other property or
assets (including cash) with respect to or in exchange for such the Common Stock or (iii) any sale
or conveyance of all or

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substantially all of the properties and assets of the Guarantor to any other Person as a
result of which holders of Common Stock shall be entitled to receive stock, other securities or
other property or assets (including cash) with respect to or in exchange for such the Common Stock,
then the Guarantor or the successor or purchasing Person, as the case may be, shall execute with
the Trustee (which shall be instructed by an Issuer Order) a supplemental indenture (which shall
comply with the Trust Indenture Act as in force at the date of execution of such supplemental
indenture). Such supplemental indenture shall provide for adjustments which shall be as nearly
equivalent as may be practicable to the adjustments provided for in this Section 13.05. The
Guarantor shall cause notice of the execution of such supplemental indenture to be mailed to each
Holder of Notes within 20 Business Days after execution thereof. Failure to deliver such notice
shall not affect the legality or validity of such supplemental indenture. The provisions of this
paragraph shall similarly apply to successive reclassifications, changes, consolidations, mergers,
combinations, sales and conveyances. If the provisions of this paragraph applies to any event or
occurrence, then the provisions of Sections Section 13.05(a) through (g) shall not apply.

     Section 13.06. Taxes on Shares Issued. The issue of stock certificates, if any, on exchange
of Notes shall be made without charge to the exchanging Noteholder for any documentary, stamp or
similar issue or transfer tax in respect of the issue thereof. The Issuer shall not, however, be
required to pay any such tax which may be payable in respect of any transfer involved in the issue
and delivery of stock in any name other than that of the holder of any Note exchanged, and the
Issuer shall not be required to issue or deliver any such stock certificate unless and until the
Person or Persons requesting the issue thereof shall have paid to the Issuer the amount of such tax
or shall have established to the satisfaction of the Issuer that such tax has been paid.

     Section 13.07. Reservation of Shares, Shares to Be Fully Paid; Compliance with Governmental
Requirements; Listing of Common Stock. The Guarantor shall provide, free from preemptive rights,
out of its authorized but unissued shares or shares held in treasury, sufficient shares of Common
Stock to provide for the exchange of the Notes as required by this Indenture from time to time as
such Notes are presented for exchange.

     The Guarantor covenants that all shares of Common Stock which may be issued upon exchange of
Notes will upon issue be fully paid and non-assessable by the Guarantor and free from all taxes,
liens and charges with respect to the issue thereof.

     The Guarantor covenants that, if any shares of Common Stock to be provided for the purpose of
exchange of Notes hereunder require registration with or approval of any governmental authority
under any federal or state law before such shares may be validly issued upon exchange, the
Guarantor shall, as expeditiously as possible secure such registration or approval, as the case may
be.

     The Guarantor further covenants that, if at any time the Common Stock shall be listed on The
New York Stock Exchange or any other national or regional securities exchange or automated
quotation system, the Guarantor will, if permitted by the rules of such exchange or automated
quotation system, list and keep listed, so long as the

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Common Stock shall be so listed on such exchange or automated quotation system, all the Common
Stock issuable upon exchange of the Notes; provided that if the rules of such exchange or automated
quotation system permit the Guarantor to defer the listing of such the Common Stock until the first
exchange of the Notes in accordance with the provisions of this Indenture, the Guarantor covenants
to list such the Common Stock issuable upon exchange of the Notes in accordance with the
requirements of such exchange or automated quotation system at such time.

     Section 13.08. Responsibility of Trustee. The Trustee and any other Exchange Agent shall not
at any time be under any duty or responsibility to determine the Exchange Rate or whether any facts
exist which may require any adjustment of the Exchange Rate, or with respect to the nature or
extent or calculation of any such adjustment when made, or with respect to the method employed, or
herein or in any supplemental indenture provided to be employed, in making the same. The Trustee
and any other Exchange Agent shall not be accountable with respect to the validity or value (or the
kind or amount) of any shares of Common Stock, or of any capital stock, other securities or other
assets or property, which may at any time be issued or delivered upon the exchange of any Note; and
the Trustee and any other Exchange Agent make no representations with respect thereto. Neither the
Trustee nor any Exchange Agent shall be responsible for any failure of the Issuer to issue,
transfer or deliver any shares of Common Stock or stock certificates or other securities or
property or cash upon the surrender of any Note for the purpose of exchange or to comply with any
of the duties, responsibilities or covenants of the Issuer contained in this Article 13. Without
limiting the generality of the foregoing, neither the Trustee nor any Exchange Agent shall be under
any responsibility to determine the correctness of any provisions contained in any supplemental
indenture entered into pursuant to Section 13.05 relating either to the kind or amount of shares of
capital stock or other securities or other assets or property (including cash) receivable by
Noteholders upon the exchange of their Notes after any event referred to in such Section 13.05 or
to any adjustment to be made with respect thereto, but, subject to the provisions of Section 7.12,
may accept as conclusive evidence of the correctness of any such provisions, and shall be protected
in relying upon, the Officers’ Certificate (which the Issuer shall be obligated to file with the
Trustee prior to the execution of any such supplemental indenture) with respect thereto. The
Trustee shall not at any time be under any duty or responsibility to determine the accuracy of the
method employed in calculating the Trading Price or whether any facts exist which may require any
adjustment of the Trading Price.

     Section 13.09. Notice to Holders Prior to Certain Actions. In case:

     (a) the Guarantor shall declare a dividend (or any other distribution) on the Common Stock
that would require an adjustment in the Exchange Rate pursuant to Section 13.05; or

     (b) the Guarantor shall authorize the granting to the holders of all or substantially all of
the Common Stock of rights or warrants to subscribe for or purchase any share of any class or any
other rights or warrants; or

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     (c) of any reclassification or reorganization of the Common Stock (other than a subdivision or
combination of its outstanding Common Stock, or a change in par value, or from par value to no par
value, or from no par value to par value), or of any consolidation, combination, merger or share
exchange to which the Issuer or the Guarantor is a party and for which approval of any stockholders
of the Guarantor is required, or of the sale or transfer of all or substantially all of the assets
of the Guarantor; or

     (d) of the voluntary or involuntary dissolution, liquidation or winding up of the Guarantor;

the Issuer shall cause to be filed with the Trustee and to be mailed to each holder of Notes at its
address appearing on the Note Register provided for in Section 2.05 of this Indenture, as promptly
as possible but in any event at least ten (10) calendar days prior to the applicable date
hereinafter specified, a notice stating (x) the date on which a record is to be taken for the
purpose of such dividend, distribution or rights or warrants, or, if a record is not to be taken,
the date as of which the holders of Common Stock of record to be entitled to such dividend,
distribution or rights are to be determined, or (y) the date on which such reclassification,
consolidation, merger, sale, transfer, dissolution, liquidation or winding up is expected to become
effective or occur, and the date as of which it is expected that holders of Common Stock of record
shall be entitled to exchange their Common Stock for securities or other property deliverable upon
such reclassification, consolidation, merger, sale, transfer, dissolution, liquidation or winding
up. Failure to give such notice, or any defect therein, shall not affect the legality or validity
of such dividend, distribution, reclassification, consolidation, merger, sale, transfer,
dissolution, liquidation or winding up.

     Section 13.10 . Settlement upon Exchange. (a) Upon exchange of any Notes, subject to
Sections 13.01, 13.02 and this Section 13.10, the Issuer shall satisfy its obligation upon exchange
(the “Exchange Obligation”) by payment and delivery of cash and, if applicable as provided in this
Section 13.10, shares of Common Stock for each $1,000 aggregate principal amount of Notes tendered
for exchange in accordance with their terms.

     (b) Upon exchange of Notes, the Issuer will deliver, in respect of each $1,000 principal
amount of Notes tendered for exchange in accordance with their terms:

     (i) cash and Common Stock, if any, equal to the sum of the Daily Settlement Amounts
for each of the 60 Trading Days during the Applicable Observation Period; and

     (ii) an amount in cash in lieu of any fractional shares of Common Stock as provided in
Section 13.03.

     (c) The Daily Settlement Amounts for each of the 60 Trading Days during the Applicable
Observation Period and any amount in cash to be delivered in lieu of any

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fractional shares of Common Stock will be determined by the Issuer promptly after the end of
the Applicable Observation Period and notified in writing to the Trustee.

     (d) Payment of the cash and, if applicable, shares of Common Stock pursuant to Section
13.10(b) shall be made by the Issuer on the third Business Day immediately following the last day
of the Applicable Observation Period to the holder of a Note surrendered for exchange, or such
holder’s nominee or nominees, and the Issuer shall deliver to the Exchange Agent or to such holder,
or such holder’s nominee or nominees, certificates or a book-entry transfer through the Depositary
for the number of full shares of Common Stock, if any, to which such holder shall be entitled as
part of such Exchange Obligation.

     (e) Upon exchange of Notes, the Holder will deliver to the Issuer cash equal to the amount the
Issuer is required to deduct or withhold under applicable law in connection with such exchange;
provided, however, that if the Holder does not deliver such cash, the Issuer may deduct and
withhold from the consideration otherwise deliverable to such Holder the amount required to be
deducted and withheld under applicable law.

     Section 13.11 . Exchange Rate Adjustment After Certain Designated Events. (a) Subject to the
provisions hereof, if a Noteholder elects to exchange its Notes in connection with the occurrence
of a transaction described in clause (1) or clause (2) of the definition of Designated Event, the
Issuer will increase the Applicable Exchange Rate for the Notes so surrendered for exchange (the
“Additional Designated Event Shares”) as specified below; provided that the Additional Designated
Event Shares will only be payable as set forth below. An exchange of Notes will be deemed for these
purposes to be “in connection with” such a Designated Event if the Exchange Notice is received by
the Exchange Agent from and after the Effective Date of the Designated Event until the
corresponding Designated Event Repurchase Date.

     (b) The number of Additional Designated Event Shares will be determined by reference to the
table in paragraph (e) below and is based on the date on which the Designated Event transaction
becomes effective (the “Effective Date”) and the price paid per share of Common Stock in the
relevant Designated Event (in the case of a Designated Event described in the clause (1) of the
definition thereof in which holders of the Common Stock receive only cash), or in the case of any
other Designated Event described in clause (1) or clause (2) of the definition thereof, the average
of the Closing Sale Prices Per share of Common Stock over the ten Trading Day period ending on the
Trading Day preceding the Effective Date of such other Designated Event (the “Stock Price”).

     (c) The Stock Prices set forth in the first row of the table below shall be adjusted as of any
date on which the Exchange Rate of the Notes is adjusted. The adjusted Stock Prices will equal the
Stock Prices applicable immediately prior to such adjustment, multiplied by a fraction, (i) the
numerator of which is the Exchange Rate immediately prior to the adjustment giving rise to the
Stock Price adjustment and (ii) the denominator of which is the Exchange Rate as so adjusted.

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     (d) The number of Additional Designated Event Shares will be adjusted in the same manner and
for the same events as the Exchange Rate is adjusted pursuant to Section 13.05.

     (e) The following table sets forth the Stock Price and number of Additional Designated Event
Shares to be added to the Applicable Exchange Rate per $1,000 principal amount of Notes:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Stock Price
	Effective Date
	 	$	13.53	 	 	$	14.00	 	 	$	15.00	 	 	$	16.00	 	 	$	17.00	 	 	$	18.00	 	 	$	19.00	 	 	$	20.00	 	 	$	21.00	 	 	$	22.00	 	 	$	23.00	 	 	$	24.00	 	 	$	25.00	 
	November 6, 2006
	 	 	13.5752	 	 	 	12.8673	 	 	 	9.7169	 	 	 	7.2461	 	 	 	5.3205	 	 	 	3.8306	 	 	 	2.6853	 	 	 	1.8174	 	 	 	1.1661	 	 	 	0.6861	 	 	 	0.3393	 	 	 	0.0953	 	 	 	0.0000	 
	November 15, 2007
	 	 	13.5752	 	 	 	12.7258	 	 	 	9.5286	 	 	 	7.0247	 	 	 	5.1120	 	 	 	3.6380	 	 	 	2.5205	 	 	 	1.6857	 	 	 	1.0669	 	 	 	0.6154	 	 	 	0.2970	 	 	 	0.0751	 	 	 	0.0000	 
	November 15, 2008
	 	 	13.5752	 	 	 	12.4336	 	 	 	9.1551	 	 	 	6.6260	 	 	 	4.6992	 	 	 	3.2516	 	 	 	2.1788	 	 	 	1.3986	 	 	 	0.8406	 	 	 	0.4498	 	 	 	0.1829	 	 	 	0.0078	 	 	 	0.0000	 
	November 15, 2009
	 	 	13.5752	 	 	 	11.9020	 	 	 	8.4830	 	 	 	5.8885	 	 	 	3.9671	 	 	 	2.5761	 	 	 	1.5936	 	 	 	0.9190	 	 	 	0.4699	 	 	 	0.1810	 	 	 	0.0034	 	 	 	0.0000	 	 	 	0.0000	 
	November 15, 2010
	 	 	13.5752	 	 	 	11.1767	 	 	 	7.4231	 	 	 	4.6514	 	 	 	2.7207	 	 	 	1.4597	 	 	 	0.6892	 	 	 	0.2499	 	 	 	0.0213	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 
	November 15, 2011
	 	 	13.5752	 	 	 	11.0844	 	 	 	6.3231	 	 	 	2.1570	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 

     (f) If the exact Stock Price and Effective Date are not set forth on the table above,
then:

     (i) if the Stock Price is between two Stock Prices in the table or the Effective Date
is between two Effective Dates in the table, the Additional Designated Event Shares will be
determined by a straight-line interpolation between the number of Additional Designated
Event Shares set forth for the higher and lower Stock Prices and the earlier and later
Effective Dates, as applicable, based on a 365-day year;

     (ii) if the Stock Price is equal to or in excess of $25.00 per share of Common Stock
(the “Make Whole Cap”) (subject to adjustment as described below) no additional Designated
Event Shares will be added to the Applicable Exchange Rate; and

     (iii) if the Stock Price is less than $13.53 per share of Common Stock (the “Make
Whole Floor”) (subject to adjustment as described below) no additional Designated Event
Shares will be added to the Applicable Exchange Rate.

     The Make Whole Cap and Make Whole Floor shall be adjusted as of any date on which the Exchange
Rate of the Notes is adjusted pursuant to Section 13.05. The adjusted Make Whole Cap or Make Whole
Floor, as the case may be, shall equal the Make Whole Cap or Make Whole Floor, as the case may be,
applicable immediately prior to such adjustment, multiplied by a fraction, (i) the numerator of
which is the Exchange Rate immediately prior to the adjustment giving rise to the adjustment and
(ii) the denominator of which is the Exchange Rate as so adjusted.

     (g) Notwithstanding anything in this Section 13.11 to the contrary, in no event will the total
number of shares of Common Stock issuable upon exchange of the Notes exceed 73.9098 per $1,000
principal amount of Notes, subject to adjustment in the same manner as the Exchange Rate pursuant
to Section 13.05.

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     Section 13.12 . Calculations in Respect of Notes. Except as otherwise specifically stated
herein or in the Notes, all calculations to be made in respect of the Notes, including, but not
limited to, the Exchange Price and the Exchange Rate, shall be the obligation of the Issuer. All
calculations made by the Issuer or its agent as contemplated pursuant to the terms hereof and of
the Notes shall be made in good faith and be final and binding on the Notes and the Holders of the
Notes absent manifest error. The Issuer shall provide a schedule of calculations to the Trustee,
and the Trustee shall be entitled to rely upon the accuracy of the calculations by the Issuer
without independent verification. The Trustee shall forward calculations made by the Issuer to any
Holder of Notes upon request.

ARTICLE 14

Meetings of Holders of Notes

     Section 14.01 . Purposes for Which Meetings May Be Called. A meeting of Holders of Notes may
be called at any time and from time to time pursuant to this Article 14 to make, give or take any
request, demand, authorization, direction, notice, consent, waiver or other action provided by this
Indenture to be made, given or taken by Holders of Notes.

     Section 14.02 . Call, Notice and Place of Meetings. (a) The Trustee may at any time call a
meeting of Holders of Notes for any purpose specified in Section 14.01, to be held at such time and
at such place as the Trustee shall determine. Notice of every meeting of Holders of Notes, setting
forth the time and the place of such meeting and in general terms the action proposed to be taken
at such meeting, shall be given, in the manner provided in Section 16.03, not less than 20 nor more
than 180 days prior to the date fixed for the meeting.

     (b) In case at any time the Issuer, pursuant to a Board Resolution, the Guarantor, or the
Holders of at least 25% in principal amount of the outstanding Notes shall have requested the
Trustee to call a meeting of the Holders of Notes for any purpose specified in Section 14.01, by
written request setting forth in reasonable detail the action proposed to be taken at the meeting,
and the Trustee shall not have made the first publication of the notice of such meeting within 20
days after receipt of such request or shall not thereafter proceed to cause the meeting to be held
as provided herein, then the Issuer, the Guarantor or the Holders of Notes in the amount above
specified, as the case may be, may determine the time and the place for such meeting and may call
such meeting for such purposes by giving notice thereof as provided in subsection (a) of this
Section 14.02.

     Section 14.03 . Persons Entitled to Vote at Meetings. To be entitled to vote at any meeting
of Holders of Notes, a Person shall be (a) a Holder of one or more outstanding Notes, or (b) a
Person appointed by an instrument in writing as proxy for a Holder or Holders of one or more
outstanding Notes by such Holder or Holders. The only Persons who shall be entitled to be present
or to speak at any meeting of Holders of Notes shall be the Persons entitled to vote at such
meeting and their counsel, any representatives of the Trustee and its counsel and any
representatives of the Issuer and the Guarantor and their respective counsel.

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     Section 14.04 . Quorum; Action. The Persons entitled to vote a majority in principal amount
of the outstanding Notes shall constitute a quorum for a meeting of Holders of Notes; provided,
however, that if any action is to be taken at such meeting with respect to a consent or waiver
which this Indenture expressly provides may be given by the Holders of not less than a specified
percentage in principal amount of the outstanding Notes, the Persons entitled to vote such
specified percentage in principal amount of the outstanding Notes shall constitute a quorum. In the
absence of a quorum within 30 minutes after the time appointed for any such meeting, the meeting
shall, if convened at the request of Holders of Notes, be dissolved. In any other case the meeting
may be adjourned for a period of not less than 10 days as determined by the chairman of the meeting
prior to the adjournment of such meeting. In the absence of a quorum at the reconvening of any such
adjourned meeting, such adjourned meeting may be further adjourned for a period of not less than 10
days; at the reconvening of any meeting adjourned or further adjourned for lack of a quorum, the
persons entitled to vote 25% in aggregate principal amount of the then outstanding Notes shall
constitute a quorum for the taking of any action set forth in the notice of the original meeting.
Notice of the reconvening of any adjourned meeting shall be given as provided in Section 14.02(a),
except that such notice need be given only once not less than five days prior to the date on which
the meeting is scheduled to be reconvened.

     Except as limited by the proviso to Section 9.02, any resolution presented to a meeting or
adjourned meeting duly reconvened at which a quorum is present as aforesaid may be adopted by the
affirmative vote of the persons entitled to vote a majority in aggregate principal amount of the
outstanding Notes; provided, however, that, except as limited by the proviso to Section 9.02, any
resolution with respect to any request, demand, authorization, direction, notice, consent, waiver
or other action which this Indenture expressly provides may be made, given or taken by the Holders
of a specified percentage, which is less than a majority, in principal amount of the outstanding
Notes may be adopted at a meeting or an adjourned meeting duly reconvened and at which a quorum is
present as aforesaid by the affirmative vote of the Holders of such specified percentage in
principal amount of the outstanding Notes.

     Any resolution passed or decision taken at any meeting of Holders of Notes duly held in
accordance with this Section 14.04 shall be binding on all the Holders of Notes, whether or not
present or represented at the meeting.

     Notwithstanding the foregoing provisions of this Section 14.04, if any action is to be taken
at a meeting of Holders of Notes with respect to any request, demand, authorization, direction,
notice, consent, waiver or other action that this Indenture expressly provides may be made, given
or taken by the Holders of a specified percentage in principal amount of all outstanding Notes
affected thereby:

     (i) there shall be no minimum quorum requirement for such meeting; and

     (ii) the principal amount of the outstanding Notes that vote in favor of such request,
demand, authorization, direction, notice, consent, waiver or other

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action shall be taken into account in determining whether such request, demand,
authorization, direction, notice, consent, waiver or other action has been made, given or
taken under this Indenture.

     Section 14.05 . Determination of Voting Rights; Conduct and Adjournment of Meetings. (a)
Notwithstanding any provisions of this Indenture, the Trustee may make such reasonable regulations
as it may deem advisable for any meeting of Holders of Notes in regard to proof of the holding of
Notes and of the appointment of proxies and in regard to the appointment and duties of inspectors
of votes, the submission and examination of proxies, certificates and other evidence of the right
to vote, and such other matters concerning the conduct of the meeting as it shall deem appropriate.
Except as otherwise permitted or required by any such regulations, the holding of Notes shall be
proved in the manner specified in Section 8.01 and the appointment of any proxy shall be proved in
the manner specified in Section 8.01 or by having the signature of the Person executing the proxy
witnessed or guaranteed by any trust company, bank or banker authorized by Section 8.01 to certify
to the holding of the Notes. Such regulations may provide that written instruments appointing
proxies, regular on their face, may be presumed valid and genuine without the proof specified in
Section 8.01 or other proof.

     (b) The Trustee shall, by an instrument in writing appoint a temporary chairman of the
meeting, unless the meeting shall have been called by the Issuer, the Guarantor or by Holders of
Notes as provided in Section 14.02(b), in which case the Issuer, the Guarantor or the Holders of
Notes calling the meeting, as the case may be, shall in like manner appoint a temporary chairman. A
permanent chairman and a permanent secretary of the meeting shall be elected by vote of the Persons
entitled to vote a majority in principal amount of the outstanding Notes represented at the
meeting.

     (c) At any meeting each Holder of such Notes or proxy shall be entitled to one vote for each
$1,000 principal amount of the outstanding Notes held or represented by him; provided, however,
that no vote shall be cast or counted at any meeting in respect of any Note challenged as not
outstanding and ruled by the chairman of the meeting to be not outstanding. The chairman of the
meeting shall have no right to vote, except as a Holder of Notes or proxy.

     (d) Any meeting of Holders of Notes duly called pursuant to Section 14.02 at which a quorum is
present may be adjourned from time to time by Persons entitled to vote a majority in principal
amount of the outstanding Notes represented at the meeting, and the meeting may be held as so
adjourned without further notice.

     Section 14.06 . Counting Votes and Recording Action of Meetings. The vote upon any
resolution submitted to any meeting of Holders of Notes shall be by written ballots on which shall
be subscribed the signatures of the Holders of Notes or of their representatives by proxy and the
principal amounts and serial numbers of the outstanding Notes held or represented by them. The
permanent chairman of the meeting shall appoint two inspectors of votes who shall count all votes
cast at the meeting for or against any resolution and who shall make and file with the secretary of
the meeting their verified written reports in duplicate of all votes cast at the meeting. A record,
at least in duplicate,

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of the proceedings of each meeting of Holders of Notes shall be prepared by the secretary of
the meeting and there shall be attached to said record the original reports of the inspectors of
votes on any vote by ballot taken thereat and affidavits by one or more persons having knowledge of
the fact, setting forth a copy of the notice of the meeting and showing that said notice was given
as provided in Section 14.02 and, if applicable, Section 14.04. Each copy shall be signed and
verified by the affidavits of the permanent chairman and secretary of the meeting and one such copy
shall be delivered to the Issuer and the Guarantor and another to the Trustee to be preserved by
the Trustee, the latter to have attached thereto the ballots voted at the meeting. Any record so
signed and verified shall be conclusive evidence of the matters therein stated.

ARTICLE 15

Guarantee

     Section 15.01 . Guarantee. By its execution hereof, the Guarantor acknowledges and agrees
that it receives substantial benefits from the Issuer and that the Guarantor is providing its
Guarantee for good and valuable consideration, including, without limitation, such substantial
benefits. Accordingly, subject to the provisions of this Article 15, the Guarantor hereby
unconditionally guarantees to each Holder of a Note authenticated and delivered by the Trustee and
its successors and assigns that: (i) the principal of (including the Redemption Price or repurchase
price upon redemption or repurchase pursuant to Article 3), premium, if any, and interest and
Additional Interest, if any, on the Notes shall be duly and punctually paid in full when due,
whether at the Maturity Date, upon acceleration, upon redemption, upon a repurchase, upon
repurchase due to a Designated Event or otherwise, and interest on overdue principal, premium, if
any, Additional Interest, if any, and (to the extent permitted by law) interest on any interest, if
any, on the Notes and all other obligations of the Issuer to the Holders (including, without
limitation, in connection with an exchange of Notes) or the Trustee hereunder or under the Notes
(including fees, expenses or other) shall be promptly paid in full or performed, all in accordance
with the terms hereof; and (ii) in case of any extension of time of payment or renewal of any Notes
or any of such other obligations, the same shall be promptly paid in full when due or performed in
accordance with the terms of the extension or renewal, whether at the Maturity Date, by
acceleration, call for redemption, upon repurchase, upon repurchase due to a Designated Event or
otherwise, subject, however, in the case of clauses (i) and (ii) above, to the limitations set
forth in Section 15.03 hereof (collectively, the “Guarantee Obligations”).

     Subject to the provisions of this Article 15, the Guarantor hereby agrees that its Guarantee
hereunder shall be unconditional, irrespective of the validity, regularity or enforceability of the
Notes or this Indenture, the absence of any action to enforce the same, any waiver or consent by
any Holder of the Notes with respect to any thereof, the entry of any judgment against the Issuer,
any action to enforce the same or any other circumstance which might otherwise constitute a legal
or equitable discharge or defense of the Guarantor. The Guarantor hereby waives and relinquishes:
(a) any right to require the Trustee, the Holders or the Issuer (each, a “Benefited Party”) to
proceed against the Issuer or any other Person or to proceed against or exhaust any security held
by a

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Benefited Party at any time or to pursue any other remedy in any secured party’s power before
proceeding against the Guarantor; (b) any defense that may arise by reason of the incapacity, lack
of authority, death or disability of any other Person or Persons or the failure of a Benefited
Party to file or enforce a claim against the estate (in administration, bankruptcy or any other
proceeding) of any other Person or Persons; (c) demand, protest and notice of any kind (except as
expressly required by this Indenture), including but not limited to notice of the existence,
creation or incurring of any new or additional indebtedness or obligation or of any action or
non-action on the part of the Guarantor, the Issuer, any Benefited Party, any creditor of the
Guarantor or the Issuer or on the part of any other Person whomsoever in connection with any
obligations the performance of which are hereby guaranteed; (d) any defense based upon an election
of remedies by a Benefited Party, including but not limited to an election to proceed against the
Guarantor for reimbursement; (e) any defense based upon any statute or rule of law which provides
that the obligation of a surety must be neither larger in amount nor in other respects more
burdensome than that of the principal; (f) any defense arising because of a Benefited Party’s
election, in any proceeding instituted under the Bankruptcy Law, of the application of Section
1111(b)(2) of the Bankruptcy Code; and (g) any defense based on any borrowing or grant of a
security interest under Section 364 of the Bankruptcy Code. The Guarantor hereby covenants that,
except as otherwise provided therein, the Guarantee shall not be discharged except by payment in
full of all Guarantee Obligations, including the principal, premium, if any, and interest on the
Notes and all other costs provided for under this Indenture or as provided in Article 7.

     If any Holder or the Trustee is required by any court or otherwise to return to either the
Issuer or the Guarantor, or any trustee or similar official acting in relation to either the Issuer
or the Guarantor, any amount paid by the Issuer or the Guarantor to the Trustee or such Holder, the
Guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect. The
Guarantor agrees that it shall not be entitled to any right of subrogation in relation to the
Holders in respect of any Guarantee Obligations hereby until payment in full of all such
obligations guaranteed hereby. The Guarantor agrees that, as between it, on the one hand, and the
Holders of Notes and the Trustee, on the other hand, (x) the maturity of the obligations guaranteed
hereby may be accelerated as provided in Article 6 hereof for the purposes hereof, notwithstanding
any stay, injunction or other prohibition preventing such acceleration in respect of the Guarantee
Obligations, and (y) in the event of any acceleration of such obligations as provided in Article 6
hereof, such Guarantee Obligations (whether or not due and payable) shall forthwith become due and
payable by the Guarantor for the purpose of the Guarantee.

     Section 15.02 . Execution and Delivery of Guarantee. To evidence the Guarantee set forth in
Section 15.01 hereof, the Guarantor agrees that a notation of the Guarantee substantially in the
form included in Exhibit A hereto shall be endorsed on each Note authenticated and delivered by the
Trustee and that this Indenture shall be executed on behalf of the Guarantor by an officer of the
Guarantor.

     The Guarantor agrees that the Guarantee set forth in this Article 15 shall remain in full
force and effect and apply to all the Notes notwithstanding any failure to endorse on each Note a
notation of the Guarantee.

82

 

     If an officer whose facsimile signature is on a Note or a notation of Guarantee no longer
holds that office at the time the Trustee authenticates the Note on which the Guarantee is
endorsed, the Guarantee shall be valid nevertheless.

     The delivery of any Note by the Trustee, after the authentication thereof hereunder, shall
constitute due delivery of the Guarantee set forth in this Indenture on behalf of the Guarantor.

     Section 15.03 . Limitation of Guarantor’s Liability; Certain Bankruptcy Events. (a) The
Guarantor, and by its acceptance hereof each Holder, hereby confirms that it is the intention of
all such parties that the Guarantee Obligations of the Guarantor pursuant to its Guarantee not
constitute a fraudulent transfer or conveyance for purposes of any Bankruptcy Law, the Uniform
Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law.
To effectuate the foregoing intention, the Holders and the Guarantor hereby irrevocably agree that
the Guarantee Obligations of the Guarantor under this Article 15 shall be limited to the maximum
amount as shall, after giving effect to all other contingent and fixed liabilities of the
Guarantor, result in the Guarantee Obligations of the Guarantor under the Guarantee not
constituting a fraudulent transfer or conveyance.

     (a) The Guarantor hereby covenants and agrees, to the fullest extent that it may do so under
applicable law, that in the event of the insolvency, bankruptcy, dissolution, liquidation or
reorganization of the Issuer, the Guarantor shall not file (or join in any filing of), or otherwise
seek to participate in the filing of, any motion or request seeking to stay or to prohibit (even
temporarily) execution on the Guarantee and hereby waives and agrees not to take the benefit of any
such stay of execution, whether under Section 362 or 105 of the Bankruptcy Law or otherwise.

     Section 15.04 . Application of Certain Terms and Provisions to the Guarantor. (a) For
purposes of any provision of this Indenture which provides for the delivery by the Guarantor of an
Officers’ Certificate and/or an Opinion of Counsel, the definitions of such terms in Section 1.01
hereof shall apply to the Guarantor as if references therein to the Issuer or the Guarantor, as
applicable, were references to the Guarantor.

     (a) Any request, direction, order or demand which by any provision of this Indenture is to be
made by the Guarantor shall be sufficient if evidenced as described in Section 16.03 hereof as if
references therein to the Issuer were references to the Guarantor.

     (b) Any notice or demand which by any provision of this Indenture is required or permitted to
be given or served by the Trustee or by the Holders of Notes to or on the Guarantor may be given or
served as described in Section 16.03 hereof as if references therein to the Issuer were references
to the Guarantor.

     (c) Upon any demand, request or application by the Guarantor to the Trustee to take any action
under this Indenture, the Guarantor shall furnish to the Trustee such

83

 

certificates and opinions as are required in Section 16.05 hereof as if all references therein
to the Issuer were references to the Guarantor.

ARTICLE 16

Miscellaneous Provisions

     Section 16.01 . Provisions Binding on Issuer’s and Guarantor’s Successors. All the
covenants, stipulations, promises and agreements by the Issuer or Guarantor contained in this
Indenture shall bind their respective successors and assigns whether so expressed or not.

     Section 16.02 . Official Acts by Successor Corporation. Any act or proceeding by any
provision of this Indenture authorized or required to be done or performed by any board, committee
or officer of the Issuer shall and may be done and performed with like force and effect by the like
board, committee or officer of any Person that shall at the time be the lawful sole successor of
the Issuer or Guarantor.

     Section 16.03 . Addresses for Notices, etc. Any notice or demand which by any provision of
this Indenture is required or permitted to be given or served by the Trustee or by the Holders of
Notes on the Issuer or Guarantor shall be in writing and shall be deemed to have been sufficiently
given or made, for all purposes, if given or served by being deposited postage prepaid by
registered or certified mail in a post office letter box, or sent by overnight courier, or sent by
telecopier transmission addressed as follows:

To Issuer:

MPT Operating Partnership, L.P.

1000 Urban Center Drive, Suite 501

Birmingham, Alabama 35242

Telecopier No.: 205-969-3756

Attention: General Counsel

To Guarantor:

Medical Properties Trust, Inc.

1000 Urban Center Drive, Suite 501

Birmingham, Alabama 35242

Telecopier No.: 205-969-3756

Attention: General Counsel

     Any notice, direction, request or demand hereunder to or upon the Trustee shall be deemed to
have been sufficiently given or made, for all purposes, if given or served by being deposited,
postage prepaid, by registered or certified mail in a post office letter box, or sent by overnight
courier, or sent by facsimile transmission addressed as follows:

84

 

Wilmington Trust Company, as Trustee

Rodney Square North

1100 N. Market Street

Wilmington, DE 19890-0001

Attention: Corporate Capital Markets

Facsimile No.: 302-636-4145

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

     Any notice or communication mailed to a Noteholder shall be mailed by first class mail,
postage prepaid, at such Noteholder’s address as it appears on the Note Register and shall be
sufficiently given to such Noteholder if so mailed within the time prescribed.

     Failure to mail a notice or communication to a Noteholder or any defect in it shall not affect
its sufficiency with respect to other Noteholders. If a notice or communication is mailed or given
in the manner provided above, it is duly given, whether or not the addressee receives it.

     Section 16.04 . Governing Law. This Indenture and the Notes shall be governed by, and
construed in accordance with, the laws of the State of New York.

     Section 16.05 . Evidence of Compliance with Conditions Precedent, Certificates to Trustee.
Upon any application or demand by the Issuer to the Trustee to take any action under any of the
provisions of this Indenture, the Issuer 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, if requested by the Trustee, an Opinion of Counsel
stating that, in the opinion of such counsel, all such conditions precedent have been complied
with, except that in the case of any such application or request as to which the furnishing of such
documents is specifically required by any provision of this Indenture relating to such particular
application or request, no additional certificate or opinion need be furnished.

     Each certificate or opinion provided for in this Indenture and delivered to the Trustee with
respect to compliance with a condition or covenant provided for in this Indenture shall include:
(1) a statement that the person making such certificate or opinion has read such covenant or
condition; (2) a brief statement as to the nature and scope of the examination or investigation
upon which the statement or opinion contained in such certificate or opinion is based; (3) a
statement that, in the opinion of such person, such person has made such examination or
investigation as is necessary to enable such person to express an informed opinion as to whether or
not such covenant or condition has been complied with; and (4) a statement as to whether or not, in
the opinion of such person, such condition or covenant has been complied with; provided, however,
that with respect to matters of fact an Opinion of Counsel may rely on an Officers’ Certificate or
certificates of public officials.

85

 

     Section 16.06 . Legal Holidays. In any case where any interest payment date, Redemption
Date, Designated Event Repurchase Date, Stated Maturity or maturity date of any Note, or the last
date on which a Holder has the right to exchange a Note, shall not be a Business Day at any place
of payment, then (notwithstanding any other provision of this Indenture or any Note other than a
provision in such Note which specifically states that such provision shall apply in lieu hereof),
payment of interest or principal (and premium, if any) or exchange of such security need not be
made at such place of payment on such date, but may be made on the next succeeding Business Day at
such place of payment with the same force and effect as if made on the interest payment date,
Redemption Date, Designated Event Repurchase Date, Stated Maturity or maturity date, or on such
last day for exchange, provided that no interest shall accrue on the amount so payable for the
period from and after such interest payment date, Redemption Date, Designated Event Repurchase
Date, Stated Maturity or maturity date, as the case may be.

     Section 16.07 . Conflict with Trust Indenture Act. If any provision hereof limits, qualifies
or conflicts with another provision hereof which is required or deemed to be included in this
Indenture by any of the provisions of the Trust Indenture Act, such required provision shall
control. If any provision of this Indenture modifies or excludes any provision of the Trust
Indenture Act that may be so modified or excluded, the latter provision shall be deemed to apply to
this Indenture as so modified or to be excluded, as the case may be.

     Section 16.08 . No Security Interest Created. Nothing in this Indenture or in the Notes,
expressed or implied, shall be construed to constitute a security interest under the Uniform
Commercial Code or similar legislation, as now or hereafter enacted and in effect, in any
jurisdiction in which property of the Issuer or its subsidiaries is located.

     Section 16.09 . Benefits of Indenture. Nothing in this Indenture or in the Notes, express or
implied, shall give to any Person, other than the parties hereto, any Paying Agent, any
authenticating agent, any Note Registrar, any Exchange Agent and their successors hereunder and the
Holders of Notes any benefit or any legal or equitable right, remedy or claim under this Indenture.

     Section 16.10 . Table of Contents, Headings, etc. The table of contents and the titles and
headings of the Articles and Sections of this Indenture have been inserted for convenience of
reference only, are not to be considered a part hereof, and shall in no way modify or restrict any
of the terms or provisions hereof.

     Section 16.11 . Execution in Counterparts. This Indenture may be executed in any number of
counterparts, each of which shall be an original, but such counterparts shall together constitute
but one and the same instrument.

     Section 16.12 . Severability. In case any provision in this Indenture or in the Notes shall
be invalid, illegal or unenforceable, then the validity, legality and enforceability of the
remaining provisions shall not in any way be affected or impaired thereby..

86

 

     Section 16.13 . No Stockholder Rights for Noteholders. Noteholders, as such, will not have
any rights as stockholders of the Guarantor, including, without limitation, voting rights and
rights to receive any dividends or other distributions on the Common Stock.

     Wilmington Trust Company, hereby accepts the trusts in this Indenture declared and provided,
upon the terms and conditions herein above set forth.

87

 

     IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed.

	 	 	 
	 

	 	MPT OPERATING PARTNERSHIP, L.P.
	 
	 	 
	 

	 	By: Medical Properties Trust, LLC
	 

	 	Its: General Partner

	 	 	 
	 

	 	By: Medical Properties Trust, Inc.
	 

	 	Its: Sole Member

	 	 	 	 	 	 	 
	 

	 	By:
	 	/s/ R. Steven Hamner	 	 
	 

	 	 	 	 

Name: R. Steven Hamner
	 	 
	 

	 	 	 	Title: Executive Vice President and	 	 
	 

	 	 	 	          Chief Financial Officer	 	 

	 	 	 
	 

	 	MEDICAL PROPERTIES TRUST, INC.,
	 

	 	as Guarantor

	 	 	 	 	 	 	 
	 

	 	By:
	 	/s/ R. Steven Hamner	 	 
	 

	 	Name:
	 	 

R. Steven Hamner
	 	 
	 

	 	Title:
	 	Executive Vice President and CFO	 	 

	 	 	 	 	 	 	 
	 	 	WILMINGTON TRUST COMPANY,
	 	 	as Trustee
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Christopher J. Slaybaugh	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Christopher J. Slaybaugh
	 	 
	 

	 	Title:
	 	Senior Financial Services Officer	 	 

88

 

EXHIBIT A

[Include only for Global Notes]

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (THE “DEPOSITARY,” WHICH TERM INCLUDES ANY SUCCESSOR
DEPOSITARY FOR THE CERTIFICATES) TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE
OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT HEREIN IS MADE
TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITARY), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]

[Include only for Notes that are Restricted Securities]

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), AND ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT AS SET FORTH IN THE
FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF, THE HOLDER AGREES THAT IT WILL NOT RESELL OR
OTHERWISE TRANSFER THE SECURITY EVIDENCED HEREBY, EXCEPT (A) TO THE ISSUER, MEDICAL PROPERTIES
TRUST, INC. OR A SUBSIDIARY OF THE ISSUER; OR (B) TO A PERSON THE SELLER REASONABLY BELIEVES IS A
QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A ADOPTED UNDER THE SECURITIES ACT) THAT IS
PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER AND TO
WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, ALL IN COMPLIANCE
WITH RULE 144A (IF AVAILABLE).

[Include only for shares of Common Stock that are Restricted Securities]

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), AND ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT AS SET FORTH IN THE
FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF, THE HOLDER AGREES (1) THAT IT WILL NOT RESELL OR
OTHERWISE TRANSFER THE SECURITY EVIDENCED HEREBY, EXCEPT (A) TO THE ISSUER OR A SUBSIDIARY OF THE
ISSUER; (B) UNDER A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES
ACT; (C) TO A PERSON THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED
IN RULE 144A ADOPTED UNDER THE

A-1

 

SECURITIES ACT) THAT IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED
INSTITUTIONAL BUYER AND TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE
144A, ALL IN COMPLIANCE WITH RULE 144A (IF AVAILABLE); OR (D) UNDER ANY OTHER AVAILABLE EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT; AND (2) THAT IT WILL, PRIOR TO ANY
TRANSFER OF THIS SECURITY, FURNISH TO THE TRANSFER AGENT AND THE ISSUER SUCH CERTIFICATIONS, LEGAL
OPINIONS OR OTHER INFORMATION AS MAY BE REQUIRED TO CONFIRM THAT SUCH TRANSFER IS BEING MADE
PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF
THE SECURITIES ACT.

A-2

 

MPT OPERATING PARTNERSHIP, L.P.

6.125% EXCHANGEABLE SENIOR NOTES DUE 2011

CUSIP:

	 	 	 	 	 
	 	$

 	 

     MPT Operating Partnership, L.P., a Delaware limited partnership (herein called the “Issuer,”
which term includes any successor corporation under the Indenture referred to on the reverse
hereof), for value received hereby promises to pay to Cede & Co., or its registered assigns, the
principal sum of            DOLLARS ($ ), or such lesser amount as is set forth in the Schedule of
Increases or Decreases in Note on the other side of this Note, on November 15, 2011 at the office
or agency of the Issuer maintained for that purpose in accordance with the terms of the Indenture,
in such coin or currency of the United States of America as at the time of payment shall be legal
tender for the payment of public and private debts, and to pay interest, semi-annually on May 15
and November 15 of each year, commencing May 15, 2007, on said principal sum at said office or
agency, in like coin or currency, at the rate per annum of 6.125%, from the May 15 or November 15,
as the case may be, next preceding the date of this Note to which interest has been paid or duly
provided for, unless no interest has been paid or duly provided for on the Notes, in which case
from November 6, 2006 until payment of said principal sum has been made or duly provided for.
Payment of the principal of and interest on the Notes not represented by a Global Note will be made
at the Corporate Trust Office or the office maintained for that purpose in the Borough of
Manhattan, The City of New York, New York, in such coin or currency of the United States of America
as at the time of payment is legal tender for payment of public and private debts; provided,
however, that at the option of the Issuer, payments of interest on the Notes may be made (i) by
check mailed to the address of the Person entitled thereto as such address shall appear in the Note
Register or (ii) by wire transfer to an account maintained by the Person entitled thereto located
within the United States.

     The Issuer promises to pay interest on overdue principal, premium, if any, and (to the extent
that payment of such interest is enforceable under applicable law) interest at the rate borne by
the Notes.

     Reference is made to the further provisions of this Note set forth on the reverse hereof,
including, without limitation, provisions giving the Holder of this Note the right to exchange this
Note into cash and, if applicable, shares of Common Stock, on the terms and subject to the
limitations referred to on the reverse hereof and as more fully specified in the Indenture. Such
further provisions shall for all purposes have the same effect as though fully set forth at this
place.

     This Note shall not be valid or become obligatory for any purpose until the certificate of
authentication hereon shall have been signed manually or by facsimile by the Trustee or a duly
authorized authenticating agent under the Indenture.

A-3

 

     IN WITNESS WHEREOF, the Issuer has caused this Note to be duly executed.

     Dated:

	 	 	 	 	 	 	 
	 	 	MPT OPERATING PARTNERSHIP, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Medical Properties Trust, LLC	 	 
	 

	 	 	 	Its: General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	     Medical Properties Trust, Inc.	 	 
	 

	 	 	 	     Its: Sole Member	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

A-4

 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

     This is one of the Notes described in the within-named Indenture.

     Dated:

	 	 	 	 	 
	 	WILMINGTON TRUST COMPANY, as Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

A-5

 

	 	 	 	 	 

[FORM OF REVERSE SIDE OF NOTE]

MPT OPERATING PARTNERSHIP, L.P.

6.125% EXCHANGEABLE SENIOR NOTES DUE 2011

     This Note is one of a duly authorized issue of Notes of the Issuer, designated as its 6.125%
Exchangeable Senior Notes due 2011 (herein called the “Notes”), issued under and pursuant to an
Indenture dated as of November 6, 2006 (herein called the “Indenture”), among the Issuer, the
Guarantor and Wilmington Trust Company, as trustee (herein called the “Trustee”), to which
Indenture and all indentures supplemental thereto reference is hereby made for a description of the
rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the
Issuer and the Holders of the Notes. Defined terms used but not otherwise defined in this Note
shall have the respective meanings ascribed thereto in the Indenture.

     If an Event of Default (other than an Event of Default specified in Section 6.01(j) or 6.01(k)
of the Indenture with respect to the Issuer) occurs and is continuing, the principal of, premium,
if any, and accrued and unpaid interest on all Notes may be declared to be due and payable by
either the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then
outstanding, and, upon said declaration the same shall be immediately due and payable. If an Event
of Default specified in Section 6.01(j) or 6.01(k) of the Indenture occurs and is continuing with
respect to the Issuer, then the principal of and premium, if any, and interest accrued and unpaid
on all the Notes shall be immediately due and payable without any declaration or other action on
the part of the Trustee or any Holder of Notes.

     The Indenture contains provisions permitting the Issuer and the Trustee, with the consent of
the Holders of not less than a majority in aggregate principal amount of the Notes at the time
outstanding, to execute supplemental indentures adding any provisions to or changing in any manner
or eliminating any of the provisions of the Indenture or of any supplemental indenture or modifying
in any manner the rights of the Holders of the Notes, subject to exceptions set forth in Section
9.02 of the Indenture. Subject to the provisions of the Indenture, the Holders of not less than a
majority in aggregate principal amount of the Notes at the time outstanding may, on behalf of the
Holders of all of the Notes, waive certain past defaults or Events of Default.

     No reference herein to the Indenture and no provision of this Note or of the Indenture shall
impair, as among the Issuer and the Holder of the Notes, the obligation of the Issuer, which is
absolute and unconditional, to pay the principal of, premium, if any, on and interest on this Note
at the place, at the respective times, at the rate and in the coin or currency herein and in the
Indenture prescribed.

     Interest on the Notes shall be computed on the basis of a 360-day year of twelve 30-day
months.

     The Notes are issuable in fully registered form, without coupons, in minimum denominations of
$1,000 principal amount and in integral multiples of $1,000 in excess

A-6

 

thereof. At the office or agency of the Issuer referred to on the face hereof, and in the
manner and subject to the limitations provided in the Indenture, without payment of any service
charge but with payment of a sum sufficient to cover any tax, assessment or other governmental
charge that may be imposed in connection with any registration or exchange of Notes, Notes may be
exchanged for a like aggregate principal amount of Notes of any other authorized denominations.

     The Issuer shall have the right to redeem the Notes under certain circumstances as set forth
in Section 3.01 of the Indenture.

     The Notes are not subject to redemption through the operation of any sinking fund.

     Upon the occurrence of a Designated Event, Holders of shall have the right to require the
Issuer to repurchase all or a portion of their Notes pursuant to Article 13 of the Indenture.

     Subject to and in compliance with the provisions of the Indenture, the Holder hereof shall
have the right to exchange each $1,000 principal amount of this Note into cash and, if applicable,
shares of Common Stock as provided in Article 13 of the Indenture.

     In the event the Holder surrenders this Note for exchange in connection with certain
Designated Events, the Issuer will increase the Applicable Exchange Rate by the Additional
Designated Event Shares as and when provided in the Indenture.

     Except as expressly provided in Article 15 of the Indenture, no recourse for the payment of
the principal of (including the Redemption Price or repurchase price upon redemption or repurchase
pursuant to Article 3 of the Indenture) or any premium, if any, or interest on this Note, or for
any claim based hereon or otherwise in respect hereof, and no recourse under or upon any
obligation, covenant or agreement of the Issuer in the Indenture or any supplemental indenture or
in this Note, or because of the creation of any indebtedness represented thereby, shall be had
against any incorporator, stockholder, partner, member, manager, employee, agent, officer, director
or subsidiary, as such, past, present or future, of the Guarantor, the Issuer or any of the
Guarantor’s Subsidiaries or of any successor thereto, either directly or through the Guarantor, the
Issuer or any of the Guarantor’s subsidiaries or of any successor thereto, whether by virtue of any
constitution, statute or rule of law, or by the enforcement of any assessment or penalty or
otherwise; it being expressly understood that all such liability is hereby expressly waived and
released as a condition of, and as consideration for, the execution of the Indenture and the issue
of this Note.

     In addition to the rights provided to Holders of Notes under the Indenture, Holders shall have
all the rights set forth in the Registration Rights Agreement dated as of November 6, 2006, among
the Issuer, the Guarantor and the Initial Purchasers named therein (the “Registration Rights
Agreement”).

A-7

 

ABBREVIATIONS

     The following abbreviations, when used in the inscription of the face of this Note, shall be
construed as though they were written out in full according to applicable laws or regulations.

	 	 	 	 	 
	TEN–COM

	 	as tenants in common
	 	UNIF GIFT MIN ACT –___
	 

	 	 	 	Custodian ___
	 
	 	 	 	 
	TEN–ENT

	 	as tenant by the entireties
	 	(Cust) (Minor)
	 
	 	 	 	 
	JT–TEN	 	as joint tenants with right of survivorship and not under Uniform
Gifts to Minors Act
	 
	 	 	 	 
	 

	 	as tenants in common	 	 
	 

	 	 	 	 
	 

	 	 	 	(State)

     Additional abbreviations may also be used though not in the above list.

A-8

 

GUARANTEE

The Guarantor listed below (hereinafter referred to as the “Guarantor,” which term includes any
successors or assigns under the Indenture, dated the date hereof, among the Guarantor, the Issuer
(defined below) and Wilmington Trust Company, as trustee (the “Indenture”), has irrevocably and
unconditionally guaranteed on a senior basis the Guarantee Obligations (as defined in Section 15.01
of the Indenture), which include (i) the due and punctual payment of the principal of, premium, if
any, and interest and Additional Interest, if any, on the 6.125% Exchangeable Senior Notes due 2011
(the “Notes”) of MPT Operating Partnership, L.P., a Delaware limited partnership (the “Issuer”),
whether at maturity, by acceleration, call for redemption, upon a repurchase or otherwise, the due
and punctual payment of interest on the overdue principal and premium, if any, and (to the extent
permitted by law) interest on any interest on the Notes, and the due and punctual performance of
all other obligations of the Issuer, to the Holders of the Notes or the Trustee all in accordance
with the terms set forth in Article 15 of the Indenture, and (ii) in case of any extension of time
of payment or renewal of any Notes or any such other obligations, that the same shall be promptly
paid in full when due or performed in accordance with the terms of the extension or renewal,
whether at maturity, by acceleration, call for redemption, upon a repurchase or otherwise.

The obligations of the Guarantor to the Holders of the Notes and to the Trustee pursuant to this
Guarantee and the Indenture are expressly set forth in Article 15 of the Indenture and reference is
hereby made to such Indenture for the precise terms of this Guarantee.

The Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with a
court in the event of merger or bankruptcy of the Issuer, any right to require a proceeding first
against the Issuer, the benefit of discussion, protest or notice with respect to the Notes and all
demands whatsoever.

This is a continuing Guarantee and shall remain in full force and effect and shall be binding upon
the Guarantor and its successors and assigns until full and final payment of all of the Issuer’s
obligations under the Notes and Indenture or until legally discharged in accordance with the
Indenture and shall inure to the benefit of the successors and assigns of the Trustee and the
Holders of the Notes, and, in the event of any transfer or assignment of rights by any Holder of
the Notes or the Trustee, the rights and privileges herein conferred upon that party shall
automatically extend to and be vested in such transferee or assignee, all subject to the terms and
conditions hereof. This is a Guarantee of payment and performance and not of collectibility.

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

The obligations of the Guarantor under this Guarantee shall be limited to the extent necessary to
insure that it does not constitute a fraudulent conveyance under applicable law.

A-9

 

THE TERMS OF ARTICLE 15 OF THE INDENTURE ARE INCORPORATED HEREIN BY REFERENCE.

Capitalized terms used herein have the same meanings given in the Indenture unless otherwise
indicated.

A-10

 

               IN WITNESS WHEREOF, the Guarantor has caused this instrument to be duly executed.

     Dated:

	 	 	 	 	 
	 	MEDICAL PROPERTIES TRUST, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

A-11

 

	 	 	 	 	 

EXCHANGE NOTICE

			
	TO:	 	MPT OPERATING PARTNERSHIP, L.P.

Wilmington Trust Company, as Trustee

     The undersigned registered owner of this Note hereby irrevocably exercises the option to
exchange this Note, or the portion thereof (which is $1,000 or a multiple thereof) below
designated, into cash and, if applicable, shares of Common Stock, in accordance with the terms of
the Indenture referred to in this Note, and directs that the shares of Common Stock, if any,
issuable and deliverable upon such exchange, together with any check in payment for cash, if any,
payable upon exchange or for fractional shares and any Notes representing any unexchanged principal
amount hereof, be issued and delivered to the registered holder hereof unless a different name has
been indicated below. Capitalized terms used herein but not defined shall have the meanings
ascribed to such terms in the Indenture. If shares or any portion of this Note not exchanged are to
be issued in the name of a person other than the undersigned, the undersigned will provide the
appropriate information below and pay all transfer taxes payable with respect thereto. Any amount
required to be paid by the undersigned on account of interest accompanies this Note.

     The undersigned registered owner of this Note hereby certifies that it or the Person on whose
behalf the Notes are being exchanged is a qualified institutional buyer within the meaning of Rule
144A under the Securities Act of 1933, as amended.

	 	 	 	 	 	 	 
	Dated:
	 	 	 	 	 	 
	 

	 	 

	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

Signature(s)
	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	Signature(s) must be guaranteed by an “eligible guarantor
institution” meeting the requirements of the Note
Registrar, which requirements include membership or
participation in the Security Transfer Agent Medallion
Program (“STAMP”) or such other “signature guarantee
program” as may be determined by the Note Registrar in
addition to, or in substitution for, STAMP, all in
accordance with the Securities Exchange Act of 1934, as
amended.
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Signature Guarantee	 	 

A-12

 

     Fill in the registration of shares of Common Stock, if any, if to be issued, and Notes if to
be delivered, and the person to whom cash and payment for fractional shares is to be made, if to be
made, other than to and in the name of the registered holder:

Please print name and address

	 	 	 	 	 
	 	 	 
	(Name)	 	 
	 
	 	 	 	 
	 	 	 
	(Street Address)	 	 
	 
	 	 	 	 
	 	 	 
	(City, State and Zip Code)	 	 
	 
	 	 	 	 
	Principal amount to be exchanged	 	 
	(if less than all):	 	 
	 
	 	 	 	 
	$
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	Social Security or Other Taxpayer	 	 
	Identification Number:	 	 
	 
	 	 	 	 
	 	 	 

NOTICE: The signature on this Exchange Notice must correspond with the name as written upon the
face of the Note in every particular without alteration or enlargement or any change whatever.

A-13

 

REPURCHASE NOTICE

			
	TO:	 	MPT OPERATING PARTNERSHIP, L.P.

Wilmington Trust Company, as Trustee

     The undersigned registered owner of this Note hereby irrevocably acknowledges receipt of a
notice from MPT Operating Partnership, L.P. (the “Issuer”) regarding the right of Holders to elect
to require the Issuer to repurchase the Notes and requests and instructs the Issuer to repay the
entire principal amount of this Note, or the portion thereof (which is $1,000 or an integral
multiple thereof) below designated, in cash, in accordance with the terms of the Indenture at the
price of 100% of such entire principal amount or portion thereof, together with accrued and unpaid
interest to, but excluding, the Designated Event Repurchase Date, as the case may be, to the
registered holder hereof. Capitalized terms used herein but not defined shall have the meanings
ascribed to such terms in the Indenture. The Notes shall be repurchased by the Issuer as of the
Designated Event Repurchase Date, as the case may be, pursuant to the terms and conditions
specified in the Indenture.

     NOTICE: The signatures of the Holder(s) hereof must correspond with the name as written upon
the face of the Note in every particular without alteration or enlargement or any change whatever.
Note Certificate Number (if applicable):                                         

     Principal amount to be repurchased (if less than all, must be $1,000 or whole multiples
thereof):                                         

Social Security or Other Taxpayer Identification Number:                                         

	 	 	 	 	 	 	 
	Dated:
	 	 	 	 	 	 
	 

	 	 

	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

Signature(s)
	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	Signature(s) must be guaranteed by an “eligible guarantor
institution” meeting the requirements of the Note
Registrar, which requirements include membership or
participation in the Security Transfer Agent Medallion
Program (“STAMP”) or such other “signature guarantee
program” as may be determined by the Note Registrar in
addition to, or in substitution for, STAMP, all in
accordance with the Securities Exchange Act of 1934, as
amended.
	 
	 	 	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	 	 	Signature Guarantee	 	 

A-14

 

ASSIGNMENT

     For value received                                                              
                
    hereby sell(s) assign(s) and transfer(s) unto
         
              
                
               
               
            (Please insert social
security or other
Taxpayer Identification Number of assignee) the within Note, and hereby irrevocably constitutes
and
appoints               
               
               
                 attorney to transfer said Note on the books of the Issuer,
with full power of substitution in the premises.

     In connection with any transfer of the Note, the undersigned confirms that such Note is being
transferred:

	 	o	 	To MPT Operating Partnership, L.P., Medical Properties Trust, Inc. or a
subsidiary of MPT Operating Partnership, L.P.; or
	 
	 	o	 	To a “qualified institutional buyer” in compliance with Rule 144A under the
Securities Act of 1933, as amended.

Unless one of the boxes is checked, the Trustee will refuse to register any of the Notes evidenced
by this certificate in the name of any person other than the registered holder thereof.

	 	 	 	 	 	 	 
	Dated:
	 	 	 	 	 	 
	 

	 	 

	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

Signature(s)
	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	Signature(s) must be guaranteed by an “eligible guarantor
institution” meeting the requirements of the Note
Registrar, which requirements include membership or
participation in the Security Transfer Agent Medallion
Program (“STAMP”) or such other “signature guarantee
program” as may be determined by the Note Registrar in
addition to, or in substitution for, STAMP, all in
accordance with the Securities Exchange Act of 1934, as
amended.
	 
	 	 	 	 	 	 
	 

	 	 	 	 

Signature Guarantee
	 	 

NOTICE: The signature on this Assignment must correspond with the name as written upon the face of
the Note in every particular without alteration or enlargement or any change whatever.

A-15

 

ASSIGNMENT

     For
value received              
               
               
                
  hereby sell(s) assign(s) and
transfer(s) unto                                                              (Please insert social security or other
Taxpayer Identification Number of assignee)                                 shares of Common Stock, and hereby
irrevocably constitutes and appoints                                                              attorney to transfer
said shares of Common Stock on the books of the Issuer, with full power of substitution in the
premises.

     In connection with any transfer of the shares of Common Stock prior to the expiration of the
holding period applicable to sales thereof under Rule 144(k) under the Securities Act (or any
successor provision) (other than any transfer pursuant to a registration statement that has been
declared effective under the Securities Act), the undersigned confirms that such shares of Common
Stock are being transferred:

	 	o	 	To MPT Operating Partnership, L.P., Medical Properties Trust, Inc. or a
subsidiary of MPT Operating Partnership, L.P.; or
	 
	 	o	 	Pursuant to and in compliance with Rule 144 under the Securities Act of 1933,
as amended; or
	 
	 	o	 	To a person the undersigned reasonably believes is a qualified institutional
buyer that is purchasing for its own account or for the account of another qualified
institutional buyer and to whom notice is given that the transfer is being made in
reliance on Rule 144A, all in compliance with Rule 144A (if available); or
	 
	 	o	 	Pursuant to a Registration Statement which has been declared effective under
the Securities Act of 1933, as amended, and which continues to be effective at the
time of transfer.

Unless one of the boxes is checked, the Transfer Agent will refuse to register any of the shares of
Common Stock evidenced by this certificate in the name of any person other than the registered
holder thereof.

A-16

 

[Include Schedule I only for a Global Note]

SCHEDULE OF INCREASES OR DECREASES IN NOTE

     The initial principal amount of this Global Note is            Dollars ($ ). The following
increases or decreases in part of this Note have been made:

	 	 	 	 	 	 	 	 	 
	 	 	Amount of	 	Amount of	 	Principal	 	 
	 	 	Increase in	 	Decrease in	 	Amount of this	 	 
	 	 	Principal	 	Principal	 	Note following	 	 
	 	 	Amount of this	 	Amount of this	 	such Increase or	 	Signature of Authorized
	Date	 	Note	 	Note	 	Decrease	 	Officer of Trustee
	 
	 	 
	 	 
	 	 
	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 

A-17EX-10.1 REGISTRATION RIGHTS AGREEMENT

 

Exhibit 10.1

Medical Properties Trust, Inc.

and

MPT Operating Partnership, L.P.

Registration Rights Agreement

November 6, 2006

 

 

Registration Rights Agreement

          This Registration Rights Agreement (the “Agreement”) is made and entered
into as of November 6, 2006, by and among MPT Operating Partnership, L.P., a Delaware limited
partnership (the “Issuer”), Medical Properties Trust, Inc., a Maryland corporation (the
“Guarantor”), and UBS Securities LLC and J.P. Morgan Securities Inc., as representatives
(the “Representatives”) of the initial purchasers (collectively, the “Initial Purchasers”)
pursuant to that certain Purchase Agreement, dated November 1, 2006 (the “Purchase
Agreement”), among the Issuer, the Guarantor and the Initial Purchasers.

          In order to induce the Initial Purchasers to enter into the Purchase Agreement, the Guarantor
has agreed to provide the registration rights set forth in this Agreement. The execution and
delivery of this Agreement is a condition to the closing under the Purchase Agreement. The terms
“herein,” “hereof,” “hereto,” “hereinafter” and similar terms, as used in this Agreement, shall in
each case refer to this Agreement as a whole and not to any particular section, paragraph, sentence
or other subdivision of this Agreement.

          The Guarantor agrees with the Initial Purchasers (i) for their benefit as Initial Purchasers
and (ii) for the benefit of the beneficial owners (including the Initial Purchasers) from time to
time of the Notes and the Covered Securities (as defined herein) (each of the foregoing a
“Holder” and, together, the “Holders”), as follows:

     1. Definitions. Capitalized terms used herein without definition shall have the
respective meanings set forth in the Purchase Agreement. As used in this Agreement, the following
terms shall have the following meanings:

     (a) “additional interest” has the meaning set forth in Section 2(e) hereof.

     (b) “Additional Interest Accrual Period” has the meaning set forth in Section
2(e) hereof.

     (c) “Additional Interest Amount” has the meaning set forth in Section 2(e)
hereof.

     (d) “Additional Interest Payment Date” means each May 15 and November 15 of
each year.

     (e) “Affiliate” means, with respect to any specified person, an “affiliate,” as
defined in Rule 144, of such person.

     (f) “Amendment Effectiveness Deadline Date” has the meaning set forth in
Section 2(d) hereof.

     (g) “Automatic Shelf Registration Statement” has the meaning ascribed to it in
Rule 405.

-1-

 

     (h) “Business Day” means each day on which the New York Stock Exchange is open
for trading.

     (i) “Claim” has the meaning set forth in Section 9(o) hereof.

     (j) “Common Stock” means the shares of common stock, $0.001 par value per
share, of the Guarantor and any other shares of capital stock as may constitute “Common
Stock” for purposes of the Indenture, including the Underlying Common Stock.

     (k) “Covered Security” has the meaning set forth in Section 1(rr) hereof.

     (l) “Designated Event Repurchase Date” has the meaning ascribed to it in the
Indenture.

     (m) “Effectiveness Deadline Date” has the meaning set forth in Section 2(a)
hereof.

     (n) “Effectiveness Period” means a period that begins as of the date the
Initial Shelf Registration Statement becomes effective under the Securities Act and
terminates (subject to extension pursuant to Section 3(k) hereof) when there are no
Registrable Securities outstanding.

     (o) “Event” has the meaning set forth in Section 2(e) hereof.

     (p) “Event Date” has the meaning set forth in Section 2(e) hereof.

     (q) “Exchange Act” means the Securities Exchange Act of 1934, as amended, and
the rules and regulations of the SEC promulgated thereunder.

     (r) “Exchange Price” has the meaning ascribed to it in the Indenture.

     (s) “Exchange Rate” has the meaning ascribed to it in the Indenture.

     (t) “Filing Deadline Date” has the meaning set forth in Section 2(a) hereof.

     (u) “Form S-1” means Form S-1 under the Securities Act.

     (v) “Form S-3” means Form S-3 under the Securities Act.

     (w) “Holder” has the meaning set forth in the preamble hereto.

     (x) “Holder Information” has the meaning set forth in Section 6(b) hereof.

     (y) “Indemnified Party” has the meaning set forth in Section 6(c) hereof.

-2-

 

     (z) “Indemnifying Party” has the meaning set forth in Section 6(c) hereof.

     (aa) “Indenture” means the Indenture, dated as of November 6, 2006, among the
Guarantor, the Issuer and the Trustee, pursuant to which the Notes are being issued.

     (bb) “Initial Purchasers” has the meaning set forth in the preamble hereto.

     (cc) “Initial Shelf Registration Statement” has the meaning set forth in
Section 2(a) hereof.

     (dd) “Issue Date” means November 6, 2006.

     (ee) “Managing Underwriters” has the meaning set forth in Section 8(a) hereof.

     (ff) “Material Event” has the meaning set forth in Section 3(k) hereof.

     (gg) “NASD Rules” has the meaning set forth in Section 3(t) hereof.

     (hh) “Notes” means the 6.125% Exchangeable Senior Notes due 2011 of the Issuer
to be purchased pursuant to the Purchase Agreement.

     (ii) “Notice and Questionnaire” means a written questionnaire containing
substantially the information called for by the Selling Securityholder Notice and
Questionnaire attached as Annex A to the offering memorandum, dated November 1, 2006,
relating to the offering of the Notes.

     (jj) “Notice Holder” means, on a given date, any Holder that has delivered a
Notice and Questionnaire to the Guarantor on or prior to such date, provided not all of such
Holder’s Registrable Securities that have been registered for resale pursuant to a Notice
and Questionnaire have been sold in accordance with a Shelf Registration Statement.

     (kk) “Proceeding” has the meaning set forth in Section 6(c) hereof.

     (ll) “Prospectus” means each prospectus relating to any Shelf Registration
Statement, including all supplements and amendments to such prospectus, in each case in the
form furnished pursuant to this Agreement by the Guarantor to Holders or filed by the
Guarantor with the SEC pursuant to Rule 424 or as part of such Shelf Registration Statement,
as the case may be, and in each case including all materials, if any, incorporated by
reference or deemed to be incorporated by reference in such prospectus.

     (mm) “Purchase Agreement” has the meaning set forth in the preamble hereof.

     (nn) “Record Date” means, (i) May 1, with respect to an Additional Interest
Payment Date that occurs on May 15 and (ii) November 1, with respect to an Additional
Interest Payment Date that occurs on November 15.

-3-

 

     (oo) “Record Holder” means, with respect to an Additional Interest Payment Date
relating to a Registrable Security for which any Additional Interest Amount has accrued, a
Notice Holder that was the holder of record of such Registrable Security at the close of
business on the Record Date relating to such Additional Interest Payment Date.

     (pp) “Redemption” means the redemption of the Notes pursuant to Section 3.01 of
the Indenture.

     (qq) “Redemption Date” has the meaning ascribed to it in the Indenture.

     (rr) “Registrable Securities” means the Underlying Common Stock initially
issuable in exchange for the Notes initially sold to the Initial Purchasers, and any
securities into or for which such Underlying Common Stock has been converted or exchanged,
and any security issued with respect thereto upon any stock dividend, split or similar event
(each of the foregoing, a “Covered Security”) until, in the case of any such
security, the earliest of:

     (i) the date on which such security has been effectively registered under the
Securities Act and disposed of in accordance with the Registration Statement
relating thereto;

     (ii) the date on which such security may be resold without restriction pursuant
to Rule 144(k) or any successor provision thereto;

     (iii) the date on which such security has been publicly sold pursuant to Rule
144 or any successor provision thereto; or

     (iv)the date on which such security ceases to be outstanding.

     (ss) “Registration Expenses” has the meaning set forth in Section 5 hereof.

     (tt) “Registration Statement” means each registration statement, under the
Securities Act, of the Guarantor that covers any of the Registrable Securities pursuant to
this Agreement, including amendments and supplements to such registration statement and
including all post-effective amendments to, all exhibits of, and all materials incorporated
by reference or deemed to be incorporated by reference in, such registration statement,
amendment or supplement.

     (uu) “Repurchase Upon Designated Event” means a repurchase of the Notes
pursuant to Section 3.05 of the Indenture.

     (vv) “Rule 144” means Rule 144 under the Securities Act, as such Rule may be
amended from time to time, or any similar rule or regulation hereafter adopted by the SEC.

-4-

 

     (ww) “Rule 144A” means Rule 144A under the Securities Act, as such Rule may be
amended from time to time, or any similar rule or regulation hereafter adopted by the SEC.

     (xx) “Rule 405” means Rule 405 under the Securities Act, as such Rule may be
amended from time to time, or any similar rule or regulation hereafter adopted by the SEC.

     (yy) “Rule 415” means Rule 415 under the Securities Act, as such Rule may be
amended from time to time, or any similar rule or regulation hereafter adopted by the SEC.

     (zz) “Rule 424” means Rule 424 under the Securities Act, as such Rule may be
amended from time to time, or any similar rule or regulation hereafter adopted by the SEC.

     (aaa) “Rule 430B” means Rule 430B under the Securities Act, as such Rule may be
amended from time to time, or any similar rule or regulation hereafter adopted by the SEC.

     (bbb) “Rule 456” means Rule 456 under the Securities Act, as such Rule may be
amended from time to time, or any similar rule or regulation hereafter adopted by the SEC.

     (ccc) “Rule 457” means Rule 457 under the Securities Act, as such Rule may be
amended from time to time, or any similar rule or regulation hereafter adopted by the SEC.

     (ddd) “SEC” means the Securities and Exchange Commission.

     (eee) “Securities Act” means the Securities Act of 1933, as amended, and the
rules and regulations promulgated by the SEC thereunder.

     (fff) “Shelf Registration Statement” means the Initial Shelf Registration
Statement and any Subsequent Shelf Registration Statement.

     (ggg) “Subsequent Shelf Registration Statement” has the meaning set forth in
Section 2(b) hereof.

     (hhh) “Subsequent Shelf Registration Statement Effectiveness Deadline Date” has
the meaning set forth in Section 2(d) hereof.

     (iii) “Suspension Notice” has the meaning set forth in Section 3(k) hereof.

     (jjj) “Suspension Period” has the meaning set forth in Section 3(k) hereof.

-5-

 

     (kkk) “TIA” means the Trust Indenture Act of 1939, as amended.

     (lll) “Trustee” means Wilmington Trust Company, the trustee under the
Indenture.

     (mmm) “Underlying Common Stock” means the Common Stock issuable upon exchange
of the Notes or upon Redemption or Repurchase Upon Designated Event.

     (nnn) “Well-Known Seasoned Issuer” has the meaning ascribed to it in Rule 405.

     2. Shelf Registration.

     (a) The Guarantor shall prepare and file, or cause to be prepared and filed, with the
SEC, as soon as practicable but in any event by the date (the “Filing Deadline
Date”) that is one hundred twenty (120) days after the Issue Date, a Registration
Statement (the “Initial Shelf Registration Statement”) for an offering to be made on
a delayed or continuous basis pursuant to Rule 415 registering the resale from time to time
by Holders thereof of all of the Registrable Securities (or, if registration of Registrable
Securities not held by Notice Holders is not permitted by the rules and regulations of the
SEC, then registering the resale from time to time by Notice Holders of their Registrable
Securities). The Initial Shelf Registration Statement shall provide for the registration of
such Registrable Securities for resale by such Holders in accordance with any reasonable
method of distribution elected by the Holders. In no event shall the Initial Shelf
Registration Statement be filed with the SEC prior to completion of the offering of the
Notes contemplated by the Purchase Agreement. If the Initial Shelf Registration Statement
is not an Automatic Shelf Registration Statement, the Guarantor shall use its commercially
reasonable best efforts to cause the Initial Shelf Registration Statement to become
effective under the Securities Act as promptly as practicable but in any event by the date
(the “Effectiveness Deadline Date”) that is two hundred ten (210) days after the
Issue Date. The Guarantor shall use its commercially reasonable best efforts to keep the
Initial Shelf Registration Statement (and any Subsequent Shelf Registration Statement)
continuously effective under the Securities Act from the date the Shelf Registration
Statement is declared effective until the earlier of (i) the twentieth (20th) trading day
immediately following the maturity date of the Notes and (ii) the date upon which there are
no Notes or Registrable Securities outstanding. At the time the Initial Shelf Registration
Statement becomes effective under the Securities Act, each Holder that became a Notice
Holder on or before the 15th day before the date of such effectiveness shall be named as a
selling securityholder in the Initial Shelf Registration Statement and the related
Prospectus in such a manner as to permit such Holder to deliver such Prospectus to
purchasers of Registrable Securities in accordance with applicable law.

     (b) If, for any reason, at any time during the Effectiveness Period any Shelf
Registration Statement ceases to be effective under the Securities Act, or ceases to be
usable for the purposes contemplated hereunder, the Guarantor shall use its commercially
reasonable best efforts to promptly cause such Shelf Registration Statement to become

-6-

 

effective or usable under the Securities Act (including obtaining the prompt withdrawal
of any order suspending the effectiveness of such Shelf Registration Statement), and in any
event shall, within thirty (30) days of such cessation of effectiveness or usability, (i)
amend such Shelf Registration Statement in a manner reasonably expected to obtain the
withdrawal of any order suspending the effectiveness of such Shelf Registration Statement or
(ii) file an additional Registration Statement (a “Subsequent Shelf Registration
Statement”) for an offering to be made on a delayed or continuous basis pursuant to Rule
415 registering the resale from time to time by Holders thereof of all securities that are
Registrable Securities as of the time of such filing (or, if registration of Registrable
Securities not held by Notice Holders is not permitted by the rules and regulations of the
SEC, then registering the resale from time to time by Notice Holders of their securities
that are Registrable Securities as of the time of such filing). If a Subsequent Shelf
Registration Statement is filed and such Subsequent Shelf Registration Statement is not an
Automatic Shelf Registration Statement, the Guarantor shall use its commercially reasonable
best efforts to cause such Subsequent Shelf Registration Statement to become effective under
the Securities Act as promptly as practicable after such filing, but in no event later than
the Subsequent Shelf Registration Statement Effectiveness Deadline Date. The Guarantor
shall use its commercially reasonable best efforts to keep such Subsequent Shelf
Registration Statement (or another Subsequent Shelf Registration Statement) continuously
effective under the Securities Act from the date the Subsequent Shelf Registration Statement
is declared effective until the earlier of (i) the twentieth (20th) trading day immediately
following the maturity date of the Notes and (ii) the date upon which there are no Notes or
Registrable Securities outstanding. Each such Subsequent Shelf Registration Statement, if
any, shall provide for the registration of such Registrable Securities for resale by such
Holders in accordance with any reasonable method of distribution elected by the Holders.

     (c) The Guarantor shall supplement and amend any Shelf Registration Statement if
required by the rules, regulations or instructions applicable to the registration form used
by the Guarantor for such Shelf Registration Statement, if required by the Securities Act
or, if necessary to make the statements therein, in light of the circumstances under which
they were made, not misleading, as reasonably requested by the Representatives or the
Trustee on behalf of the Holders of the Registrable Securities covered by such Shelf
Registration Statement.

     (d)

     (i) Each Holder of Registrable Securities agrees that, if such Holder wishes to
sell Registrable Securities pursuant to a Shelf Registration Statement and related
Prospectus, it will do so only in accordance with this Section 2(d) and Section
3(k). Each Holder of Registrable Securities wishing to sell Registrable Securities
pursuant to a Shelf Registration Statement and related Prospectus agrees to deliver
a completed and executed Notice and Questionnaire to the Guarantor, together with
any other information the Guarantor may reasonably request, prior to any attempted
or actual distribution of Registrable Securities under a Shelf Registration
Statement. If a Holder becomes a Notice Holder after

-7-

 

the 15th day before the date the Initial Shelf Registration Statement becomes
effective under the Securities Act, the Guarantor shall use its commercially
reasonable best efforts to, after the date such Holder became a Notice Holder, and
in any event, subject to clause (B) below, within the later of (x) twenty (20)
Business Days after such date or (y) twenty (20) Business Days after the expiration
of any Suspension Period that either (I) is in effect when such Holder became a
Notice Holder or (II) is put into effect within twenty (20) Business Days after the
date such Holder became a Notice Holder;

     (A) file with the SEC a supplement to the related Prospectus (or, if
required by applicable law, a post-effective amendment to the Shelf
Registration Statement or a Subsequent Shelf Registration Statement), and
all other document(s), in each case as is required so that such Notice
Holder is named as a selling securityholder in a Shelf Registration
Statement and the related Prospectus in such a manner as to permit such
Notice Holder to deliver a Prospectus to purchasers of the Registrable
Securities in accordance with the Securities Act; provided,
however, that, if a post-effective amendment or a Subsequent Shelf
Registration Statement is required by the rules and regulations of the SEC
in order to permit resales by such Notice Holder, the Guarantor shall not be
required to file more than one (1) post-effective amendment or Subsequent
Shelf Registration Statement for such purpose in any ninety (90) day period;

     (B) if, pursuant to Section 2(d)(i)(A), the Guarantor shall have filed
a post-effective amendment to the Shelf Registration Statement or filed a
Subsequent Shelf Registration Statement, the Guarantor shall use its
commercially reasonable best efforts to cause such post-effective amendment
or Subsequent Shelf Registration Statement, as the case may be, to become
effective under the Securities Act as promptly as practicable, but in any
event by the date (the “Amendment Effectiveness Deadline Date,” in
the case of a post-effective amendment, and the “Subsequent Shelf
Registration Statement Effectiveness Deadline Date,” in the case of a
Subsequent Shelf Registration Statement) that is ninety (90) days after the
date such post-effective amendment or Subsequent Shelf Registration
Statement, as the case may be, is required by this Section 2(d) to be filed
with the SEC;

     (C) the Guarantor shall provide such Notice Holder a reasonable number
of copies of any documents filed pursuant to clause (A) above, if requested
by such Notice Holder;

     (D) the Guarantor shall notify such Notice Holder as promptly as
practicable after the effectiveness under the Securities Act of any
post-effective amendment or Subsequent Shelf Registration Statement filed
pursuant to clause (A) above;

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     (E) if such Holder became a Notice Holder during a Suspension Period,
or a Suspension Period is put into effect within twenty (20) Business Days
after the date such Holder became a Notice Holder, the Guarantor shall so
inform such Notice Holder and shall take the actions set forth in clauses
(A), (B), (C) and (D) above within fifteen (15) Business Days after
expiration of such Suspension Period in accordance with Section 3(k);

     (F) if (A) the Notes are called for redemption and the then prevailing
market price of the Common Stock is above the Exchange Price or (B) the
Notes are exchanged as provided for in Sections 13.01(i), 13.01(ii) or
13.01(iv) of the Indenture, then the Guarantor shall take the actions set
forth in clauses (A), (B), (C) and (D) above within ten (10) Business Days
of the redemption date or the end of the exchange period, as applicable, or
if such Notice and Questionnaire is delivered during a Suspension Period,
upon expiration of the Suspension Period in accordance with Section 3(k);
and

     (G) if, under applicable law, the Guarantor has more than one option as
to the type or manner of making any such filing, the Guarantor shall make
the required filing or filings in the manner or of a type that is reasonably
expected to result in the earliest availability of a Prospectus for
effecting resales of Registrable Securities under the Securities Act.

     (ii) Notwithstanding anything contained herein to the contrary, the Guarantor
shall be under no obligation to name any Holder that is not a Notice Holder as a
selling securityholder in any Shelf Registration Statement or related Prospectus;
provided, however, that any Holder that becomes a Notice Holder
(regardless of when such Holder became a Notice Holder) shall be named as a selling
securityholder in a Shelf Registration Statement or related Prospectus in accordance
with the requirements of this Section 2(d) or Section 2(a), as applicable.

     (e) The parties hereto agree that the Holders of Registrable Securities will suffer
damages, and that it would not be feasible to ascertain the extent of such damages with
precision, if:

     (i) the Initial Shelf Registration Statement (which shall be an Automatic Shelf
Registration Statement if the Guarantor is a Well-Known Seasoned Issuer) has not
been filed with the SEC on or prior to the Filing Deadline Date;

     (ii) the Guarantor is not a Well Known Seasoned Issuer, the Initial Shelf
Registration Statement has not been declared or become effective under the
Securities Act on or prior to the Effectiveness Deadline Date;

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     (iii) the Initial Shelf Registration Statement or any Subsequent Registration
Statement is filed with the SEC and is declared or becomes effective under the
Securities Act but shall thereafter cease to be effective (without being succeeded
immediately by a new Registration Statement that is filed and immediately becomes
effective under the Securities Act) or usable under the Securities Act for the offer
and sale of Registrable Securities in the manner contemplated by this Agreement and
(I) other than in connection with (A) a Suspension Period or (B) as a result of a
requirement to file a post-effective amendment or supplement to the Prospectus to
make changes to the information regarding selling securityholders provided for
therein, the Guarantor does not cure the lapse of effectiveness or usability within
ten (10) Business Days or (II) the Suspension Period, when aggregated with other
Suspension Periods, shall exceed the number of days permitted in Section 3(k); or

     (iv) any Registration Statement or amendment thereto, at the time it becomes
effective under the Securities Act, or any Prospectus relating thereto, at the time
it is filed with the SEC or, if later, at the time the Registration Statement to
which such Prospectus relates becomes effective under the Securities Act, shall fail
to name each Holder as a selling securityholder in such a manner as to permit such
Holder to sell its Registrable Securities pursuant to such Registration Statement
and Prospectus in accordance with the Securities Act, which Holder was required,
pursuant to the terms of this Agreement, to be so named (it being understood that,
without limitation, naming such Holder in a manner that permits such Holder to sell
only a portion of such Holder’s Registrable Securities referenced in such Holder’s
Notice and Questionnaire shall be deemed to be an “Event” (as defined below) for
purposes of this clause (iv)).

Each of the events of a type described in any of the foregoing clauses (i) through (iv) are
individually referred to herein as an “Event,” and

     (W) the Filing Deadline Date, in the case of clause (i) above,

     (X) the Effectiveness Deadline Date, in the case of clause (ii) above,

     (Y) the date on which the duration of the ineffectiveness or unusability of the
Shelf Registration Statement exceeds the number of days permitted by clause (iii)
above, in the case of clause (iii) above, and

     (Z) the date the applicable Registration Statement or amendment thereto shall
become effective under the Securities Act, or the date the applicable Prospectus is
filed with the SEC or, if later, the time the Registration Statement to which such
Prospectus relates becomes effective under the Securities Act, as the case may be,
in the case of clause (iv) above,

are each herein referred to as an “Event Date.” Events shall be deemed to continue
until the following dates with respect to the respective types of Events:

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     (A) the date the Initial Shelf Registration Statement is filed with the SEC, in
the case of an Event of the type described in clause (i) above;

     (B) the date the Initial Shelf Registration Statement is declared or becomes
effective under the Securities Act, in the case of an Event of the type described in
clause (ii) above;

     (C) the date the Initial Shelf Registration Statement or the Subsequent Shelf
Registration Statement, as the case may be, becomes effective and usable again, or
the date another Subsequent Shelf Registration Statement is filed with the SEC
pursuant to Section 2(b) and becomes effective, in the case of an Event of the type
described in clause (iii) above; or

     (D) the date a supplement to the Prospectus is filed with the SEC, or the date
a post-effective amendment to the Registration Statement becomes effective under the
Securities Act, or the date a Subsequent Shelf Registration Statement becomes
effective under the Securities Act, which supplement, post-effective amendment or
Subsequent Shelf Registration Statement, as the case may be, names as selling
securityholders, in such a manner as to permit them to sell their Registrable
Securities pursuant to the Registration Statement and Prospectus supplement in
accordance with the Securities Act, all Holders required as herein provided to be so
named, in the case of an Event of the type described in clause (iv) above.

Accordingly, commencing on (and including) any Event Date and ending on (but excluding) the
next date on which there are no Events that have occurred and are continuing (an
“Additional Interest Accrual Period”), the Guarantor agrees to pay, as additional
interest (“additional interest”) and not as a penalty, an amount (the
“Additional Interest Amount”) at the rate described below, payable periodically on
each Additional Interest Payment Date to Record Holders, to the extent of, for each such
Additional Interest Payment Date, the unpaid Additional Interest Amount that has accrued to
(but excluding) such Additional Interest Payment Date (or, if the Additional Interest
Accrual Period shall have ended prior to such Additional Interest Payment Date, to, but
excluding, the day immediately after, the last day of such Additional Interest Accrual
Period); provided, however, that any unpaid Additional Interest Amount that
has accrued with respect to any Note, or portion thereof, called for Redemption on a
Redemption Date, or purchased by the Company pursuant to a Repurchase Upon Designated Event
on a Designated Event Repurchase Date, as the case may be, that is after the close of
business on the Record Date relating to such Additional Interest Payment Date and before
such Additional Interest Payment Date, shall, in each case, be instead paid, on such
Redemption Date or Designated Event Repurchase Date, as the case may be, to the Holder who
submitted such Note or portion thereof for Redemption or Repurchase Upon Designated Event,
as the case may be.

The Additional Interest Amount shall accrue at a rate per annum equal to one quarter of

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one percent (0.25%) for the ninety (90) day period beginning on, and including, the Event
Date and thereafter at a rate per annum equal to one half of one percent (0.50%) of the
aggregate principal amount of the Notes of which such Record Holders were holders of record
at the close of business on the applicable Record Date; provided, however,
that:

     (I) unless there shall be a default in the payment of any Additional Interest
Amount, no Additional Interest Amounts shall accrue as to any Note from and after
the earlier of (x) the date such security is no longer a Registrable Security, (y)
the date, and to the extent, such Note is exchanged for cash and, if
applicable, shares of Common Stock in accordance with the Indenture and (z) the expiration of
the Effectiveness Period;

     (II) only those Holders (or their subsequent transferees) failing to be named
as selling securityholders in the manner prescribed in Section 2(e)(iv) above shall
be entitled to receive any Additional Interest Amounts that have accrued solely with
respect to an Event of the type described in Section 2(e)(iv) above (it being
understood that this clause (II) shall not impair any right of any Holder to receive
Additional Interest Amounts that have accrued with respect to an Event other than an
Event of the type described in Section 2(e)(iv) above); and

     (III) if a Note ceases to be outstanding during an Additional Interest Accrual
Period for which an Additional Interest Amount would be payable with respect to such
Note, then the Additional Interest Amount payable hereunder with respect to such
Note shall be prorated on the basis of the number of full days such Note is
outstanding during such Additional Interest Accrual Period.

No Additional Interest Amounts shall be payable in respect of any Common Stock delivered as
payment of any portion of a make-whole payment. Except as provided in the final paragraph
of this Section 2(e), (i) the rate of accrual of the Additional Interest Amount with respect
to any period shall not exceed the rate provided for in this Section 2(e) notwithstanding
the occurrence of multiple concurrent Events and (ii) following the cure of all Events
requiring the payment by the Guarantor of Additional Interest Amounts to the Holders
pursuant to this Section, the accrual of Additional Interest Amounts shall cease (without in
any way limiting the effect of any subsequent Event requiring the payment of Additional
Interest Amounts by the Guarantor). All installments of additional interest on any Global
Note (as defined in the Indenture) shall be paid by wire transfer of immediately available
funds to the account of the Depositary (as defined in the Indenture) or its nominee. Payment
of additional interest on the Notes not represented by a Global Note will be made at the
Corporate Trust Office maintained for that purpose in the Borough of Manhattan, The City of
New York, New York, in such coin or currency of the United States of America as at the time
of payment is legal tender for payment of public and private debts; provided, however, that
at the option of the Issuer, payments of additional interest on the Notes may be made (i) by
check mailed to the address of the Person (as defined in the Indenture) entitled thereto as
such address shall appear in the Note Register (as defined in the Indenture) or (ii) by wire
transfer to an account maintained by the Person entitled thereto located within the United
States.

-12-

 

All of the Guarantor’s obligations set forth in this Section 2(e) that are outstanding with
respect to any Registrable Security at the time such Registrable Security ceases to be a
Registrable Security shall survive until such time as all such obligations with respect to
such security have been satisfied in full (notwithstanding termination of this Agreement
pursuant to Section 9(n)).

The parties hereto agree that the additional interest provided for in this Section 2(e)
constitutes a reasonable estimate of the damages that may be incurred by Holders by reason
of an Event, including, without limitation, the failure of a Shelf Registration Statement to
be filed, become effective under the Securities Act, amended or replaced to include the
names of all Notice Holders or available for effecting resales of Registrable Securities in
accordance with the provisions hereof.

If any Additional Interest Amounts are not paid when due, then, to the extent permitted by
law, such overdue Additional Interest Amounts, if any, shall bear interest, compounded
semi-annually, until paid at the rate of interest payable with respect to overdue amounts on
the Notes pursuant to the Indenture.

Notwithstanding any provision in this Agreement, in no event shall an Additional Interest
Amount accrue to holders of Common Stock issued upon exchange of Notes. In lieu thereof, if
during an Additional Interest Accrual Period a Holder shall exchange their Notes for Common
Stock, the Guarantor shall increase the Exchange Rate by 3% for each $1,000 principal amount
of Notes exchanged.

     (f) The Trustee shall be entitled, on behalf of Holders, to seek any available remedy
for the enforcement of this Agreement, including for the payment of any Additional Interest
Amount.

     3. Registration Procedures. In connection with the registration obligations of the
Guarantor under Section 2 hereof, the Guarantor shall:

     (a) Prepare and file with the SEC a Shelf Registration Statement or Shelf Registration
Statements in the manner provided in this Agreement and use its commercially reasonable best
efforts to cause each such Shelf Registration Statement to become effective under the
Securities Act and remain effective under the Securities Act as provided herein;
provided, that, before filing any Shelf Registration Statement or Prospectus or any
amendments or supplements thereto with the SEC, the Guarantor shall furnish to the
Representatives and counsel for the Holders and for the Representatives (or, if applicable,
a single separate counsel for the Holders) copies of all such documents proposed to be filed
and reflect in each such document when so filed with the SEC such comments as the
Representatives or such counsel reasonably shall propose within three (3) Business Days of
the delivery of such copies to the Representatives and such counsel. Each Registration
Statement that is or is required by this Agreement to be filed with the SEC shall be filed
on Form S-3 if the Guarantor is then eligible to use Form S-3 for the purposes contemplated
by this Agreement, or, if the Guarantor is not then so eligible to

-13-

 

use Form S-3, shall be on Form S-11 or another appropriate form that is then available
to the Guarantor for the purposes contemplated by this Agreement. Each such Registration
Statement that is filed on Form S-3 shall constitute an Automatic Shelf Registration
Statement if the Guarantor is then eligible to file an Automatic Shelf Registration
Statement on Form S-3 for the purposes contemplated by this Agreement. If, at the time any
Registration Statement is filed with the SEC, the Guarantor is eligible, pursuant to Rule
430B(b), to omit, from the prospectus that is filed as part of such Registration Statement,
the identities of selling securityholders and amounts of securities to be registered on
their behalf, then the Guarantor shall prepare and file such Registration Statement in a
manner as to permit such omission and to allow for the subsequent filing of such information
in a prospectus pursuant to Rule 424(b) in the manner contemplated by Rule 430B(d).

     (b) Prepare and file with the SEC such amendments and post-effective amendments to each
Shelf Registration Statement as may be necessary to keep such Shelf Registration Statement
or Subsequent Shelf Registration Statement continuously effective until the expiration of
the Effectiveness Period; cause the related Prospectus to be supplemented by any required
Prospectus supplement and, as so supplemented, to be filed with the SEC pursuant to Rule
424; and comply with the provisions of the Securities Act applicable to it with respect to
the disposition of all securities covered by each Shelf Registration Statement during the
Effectiveness Period in accordance with the intended methods of disposition by the sellers
thereof set forth in such Shelf Registration Statement as so amended or such Prospectus as
so supplemented.

     (c) If the third anniversary of the initial effective date of any Registration
Statement (within the meaning of Rule 415(a)(5) under the Securities Act) shall occur at any
time during the Effectiveness Period, to the extent required pursuant to Rule 415(a)(5)
under the Securities Act in order to permit the Registrable Securities to continue to be
offered, file with the SEC, prior to such third anniversary, a new Registration Statement
covering the Registrable Securities, in the manner contemplated by, and in compliance with,
Rule 415(a)(6), and use its commercially reasonable best efforts to cause such new
Registration Statement to become effective under the Act as soon as practicable, but in any
event within 180 days after such third anniversary. Each such new Registration Statement,
if any, shall be deemed, for purposes of this Agreement, to be a Subsequent Shelf
Registration Statement.

     (d) If, at any time during the Effectiveness Period, any Registration Statement shall
cease to comply with the requirements of the Securities Act with respect to eligibility for
the use of the form on which such Registration Statement was filed with the SEC (or if such
Registration Statement constituted an Automatic Shelf Registration Statement at the time it
was filed with the SEC and shall thereafter cease to constitute an Automatic Shelf
Registration Statement, or if the Guarantor shall have received, from the SEC, a notice,
pursuant to Rule 401(g)(2) under the Securities Act, of objection to the use of the form on
which such Registration Statement was filed with the SEC), (i) promptly give notice to the
Notice Holders and counsel for the Holders and for the Representatives (or, if applicable, a
single separate counsel for the Holders) and to the Representatives

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and (ii) promptly file with the SEC a new Registration Statement under the Securities
Act, or a post-effective amendment to such Registration Statement, to effect compliance with
the Securities Act. The Guarantor shall use its commercially reasonable best efforts to
cause such new Registration Statement or post-effective amendment to become effective under
the Securities Act as soon as practicable, but subject to compliance with Section 3(a)
hereof, and shall promptly give notice of such effectiveness to the Notice Holders and
counsel for the Holders and for the Representatives (or, if applicable, a single separate
counsel for the Holders) and to the Representatives. Each such new Registration Statement,
if any, shall be deemed, for purposes of this Agreement, to be a Subsequent Shelf
Registration Statement.

     (e) As promptly as practicable during the Effectiveness Period, give notice to the
Notice Holders, the Representatives and counsel for the Holders and for the Representatives
(or, if applicable, a single separate counsel for the Holders):

     (i) when any Prospectus, Prospectus supplement, Shelf Registration Statement or
post-effective amendment to a Shelf Registration Statement has been filed with the
SEC and, with respect to a Shelf Registration Statement or any post-effective
amendment, when the same has become effective under the Securities Act.

     (ii) of any request, following the effectiveness of a Shelf Registration
Statement under the Securities Act, by the SEC or any other governmental authority
for amendments or supplements to such Shelf Registration Statement or the related
Prospectus or for additional information,

     (iii) of the issuance by the SEC or any other governmental authority of any
stop order suspending the effectiveness of any Shelf Registration Statement or the
initiation or threatening of any proceedings for that purpose,

     (iv) of the receipt by the Guarantor or its legal counsel of any notification
with respect to the suspension of the qualification or exemption from qualification
of any of the Registrable Securities for sale in any jurisdiction or the initiation
or threatening of any proceeding for such purpose,

     (v) after the effective date of any Shelf Registration Statement filed with the
SEC pursuant to this Agreement, of the occurrence of (but not the nature of or
details concerning) a Material Event, and

     (vi) of the determination by the Guarantor that a post-effective amendment to a
Shelf Registration Statement or a Subsequent Shelf Registration Statement will be
filed with the SEC, which notice may, at the discretion of the Guarantor (or as
required pursuant to Section 3(k)), state that it constitutes a Suspension Notice,
in which event the provisions of Section 3(k) shall apply.

     (f) Use its commercially reasonable best efforts to (i) prevent the issuance of,

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and, if issued, to obtain the withdrawal of, any order suspending the effectiveness of
a Shelf Registration Statement and (ii) obtain the lifting of any suspension of the
qualification (or exemption from qualification) of any of the Registrable Securities for
sale in any jurisdiction in which they have been qualified for sale, in either case at the
earliest practicable moment, and provide prompt notice to each Notice Holder and the
Representatives, and counsel for the Holders and for the Representatives (or, if applicable,
a single separate counsel for the Holders), of the withdrawal or lifting of any such order
or suspension.

     (g) If requested in writing by the Representatives or any Notice Holder, as promptly as
practicable incorporate in a Prospectus supplement or a post-effective amendment to a Shelf
Registration Statement such information as the Initial Purchasers, such Notice Holder or
counsel for the Holders and for the Initial Purchasers (or, if applicable, a single separate
counsel for the Holders) shall determine to be required to be included therein by applicable
law and make any required filings of such Prospectus supplement or such post-effective
amendment; provided, however, that the Guarantor shall not be required to
take any actions under this Section 3(g) that, in the written opinion of counsel for the
Guarantor, are not required to be included therein by applicable law.

     (h) As promptly as practicable, furnish to each Notice Holder (but only upon such
Notice Holder’s request), counsel for the Holders and for the Representatives (or, if
applicable, a single separate counsel for the Holders) and the Representatives, without
charge, at least one (1) conformed copy of each Shelf Registration Statement and each
amendment thereto, including financial statements but excluding schedules, all documents
incorporated or deemed to be incorporated therein by reference and all exhibits (unless
requested in writing to the Guarantor by such Notice Holder, such counsel or the
Representatives).

     (i) During the Effectiveness Period, deliver to each Notice Holder, counsel for the
Holders and for the Representatives (or, if applicable, a single separate counsel for the
Holders) and the Representatives, in connection with any sale of Registrable Securities
pursuant to a Shelf Registration Statement, without charge, as many copies of the Prospectus
or Prospectuses relating to such Registrable Securities (including each preliminary
prospectus) and any amendment or supplement thereto as such Notice Holder or the
Representatives may reasonably request; and the Guarantor hereby consents (except during
such periods that a Suspension Notice is outstanding and has not been revoked) to the use of
such Prospectus and each amendment or supplement thereto by each Notice Holder, in
connection with any offering and sale of the Registrable Securities covered by such
Prospectus or any amendment or supplement thereto in the manner set forth therein.

     (j) Prior to any public offering of the Registrable Securities pursuant to a Shelf
Registration Statement, use its commercially reasonable best efforts to register or qualify
or cooperate with the Notice Holders in connection with the registration or qualification
(or exemption from such registration or qualification) of such Registrable

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Securities for offer and sale under the securities or Blue Sky laws of such
jurisdictions within the United States as any Notice Holder reasonably requests in writing
(which request may be included in the Notice and Questionnaire); use its commercially
reasonable best efforts to keep each such registration or qualification (or exemption
therefrom) effective during the Effectiveness Period in connection with such Notice Holder’s
offer and sale of Registrable Securities pursuant to such registration or qualification (or
exemption therefrom) and do any and all other acts or things reasonably necessary or
advisable to enable the disposition in such jurisdictions of such Registrable Securities in
the manner set forth in the relevant Shelf Registration Statement and the related
Prospectus; provided, however, that the Guarantor will not be required to
(i) qualify generally to do business in any jurisdiction where it is not then so qualified;
(ii) take any action that would subject it to general service of process in suits, other
than those arising out of the offering or sale of Registrable Securities or arising in
connection with this Agreement, in any jurisdiction where it is not now so subject; or (iii)
take any action that would subject it to taxation in any jurisdiction where it is not then
so subject.

     (k) Upon the occurrence or existence of any pending corporate development, public
filings with the SEC or any other material event (a “Material Event”) that, in the
reasonable discretion of the Guarantor, makes it appropriate to suspend the availability of
any Shelf Registration Statement and the related Prospectus:

     (i) subject to the next sentence, as promptly as practicable, prepare and file,
if necessary pursuant to applicable law, a post-effective amendment to such Shelf
Registration Statement or a supplement to such Prospectus or any document
incorporated therein by reference or file any other required document that would be
incorporated by reference into such Shelf Registration Statement and Prospectus so
that such Shelf Registration Statement does not contain any untrue statement of a
material fact or omit to state any material fact required to be stated therein or
necessary to make the statements therein not misleading, and so that such Prospectus
does not contain any untrue statement of a material fact or omit to state any
material fact necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading, as thereafter delivered to
the purchasers of the Registrable Securities being sold thereunder, and, in the case
of a post-effective amendment to a Shelf Registration Statement, subject to the next
sentence, use its commercially reasonable best efforts to cause it to become
effective under the Securities Act as promptly as practicable, and

     (ii) give notice (without notice of the nature or details of such events) to
the Notice Holders and counsel for the Holders and for the Representatives (or, if
applicable, a single separate counsel for the Holders) and to the Representatives
that the availability of the Shelf Registration Statement is suspended (a
“Suspension Notice”) (and, upon receipt of any Suspension Notice, each
Notice Holder agrees (x) not to sell any Registrable Securities pursuant to such
Shelf Registration Statement until such Notice Holder’s receipt of copies of the
supplemented or amended Prospectus provided for in clause (i) above or until

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such Notice Holder is advised in writing by the Guarantor that the Prospectus
may be used and (y) to hold such Suspension Notice in confidence).

The Guarantor will use its commercially reasonable best efforts to ensure that the use of
the Prospectus may be resumed as soon as, in the reasonable discretion of the Guarantor,
such suspension is no longer appropriate. Except in the case of a suspension of the
availability of the Shelf Registration Statement and the related Prospectus solely as the
result of the filing of a post-effective amendment or supplement to the Prospectus to add
additional selling securityholders therein, the period during which the availability of the
Shelf Registration Statement and any Prospectus may be suspended (the “Suspension
Period”) without the Guarantor incurring any obligation to pay additional interest
pursuant to Section 2(e) shall not exceed forty-five (45) days in the aggregate in any
ninety (90) day period or ninety (90) days in the aggregate in any three hundred and sixty
(360) day period, provided, that, if the event triggering the Suspension Period relates to a
proposed or pending material business transaction, the disclosure of which the board of
directors of the Guarantor determines in good faith would be reasonably likely to impede the
ability to consummate the transaction or would otherwise be seriously detrimental to the
Guarantor and its subsidiaries taken a whole, the Guarantor may extend the Suspension Period
from forty-five (45) days to sixty (60) days in any ninety (90) day period or from ninety
(90) days to one hundred and twenty (120) days in any three hundred and sixty (360) day
period. The Effectiveness Period shall be extended by the number of days from and including
the date of the giving of the Suspension Notice to and including the date on which the
Notice Holder received copies of the supplemented or amended Prospectus provided in clause
(i) above, or the date on which it is advised in writing by the Guarantor that the
Prospectus may be used and has received copies of any additional or supplemental filings
that are incorporated or deemed incorporated by reference in such Prospectus.

     (l) Make reasonably available for inspection during normal business hours by
representatives for the Notice Holders and any underwriters participating in any disposition
pursuant to any Shelf Registration Statement and any broker-dealers, attorneys and
accountants retained by such Notice Holders or any such underwriters, all relevant financial
and other records and pertinent corporate documents and properties of the Guarantor and its
subsidiaries, and cause the appropriate officers, directors and employees of the Guarantor
and its subsidiaries to make available for inspection during normal business hours all
relevant information reasonably requested by such representatives for the Notice Holders, or
any such underwriters, broker-dealers, attorneys or accountants in connection with such
disposition, in each case as is customary for similar “due diligence” examinations;
provided, however, that such persons shall, at the Guarantor’s request,
first agree in writing with the Guarantor that such person will not engage in any
transaction involving securities of the Guarantor in violation of applicable law (including,
without limitation, federal securities laws prohibiting trading on the basis of material
non-public information) and that any information that is reasonably and in good faith
designated by the Guarantor in writing as confidential at the time of delivery of such
information shall be kept confidential by such persons and shall be used solely for the
purposes of exercising rights under this Agreement, unless (i) disclosure of such

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information is required by court or administrative order or is necessary to respond to
inquiries of governmental or regulatory authorities, (ii) disclosure of such information is
required by law (including any disclosure requirements pursuant to federal securities laws
in connection with the filing of any Shelf Registration Statement or the use of any
Prospectus referred to in this Agreement) or necessary to defend or prosecute a claim
brought against or by any such persons (e.g., to establish a “due diligence” defense), (iii)
such information becomes generally available to the public other than as a result of a
disclosure or failure to safeguard by any such person or (iv) such information becomes
available to any such person from a source other than the Guarantor and such source is not
bound by a confidentiality agreement or is not otherwise under a duty of trust to the
Guarantor; provided further, that the foregoing inspection and information
gathering shall, to the greatest extent possible, be coordinated on behalf of all the Notice
Holders and the other parties entitled thereto by the counsel, referred to in Section 5, for
the Holders in connection with Shelf Registration Statements.

     (m) Comply in all material respects with all applicable rules and regulations of the
SEC; and make generally available to its securityholders earnings statements (which need not
be audited) satisfying the provisions of Section 11(a) of the Securities Act and Rule 158
thereunder (or any similar rule promulgated under the Securities Act), which statements
shall cover a period of twelve (12) months commencing on the first day of the first fiscal
quarter of the Guarantor commencing after the effective date of each Shelf Registration
Statement (within the meaning of Rule 158(c) under the Securities Act), and which statements
shall be so made generally available to the Guarantor’s securityholders as follows: (i) with
respect to an earnings statement which will be contained in one report on Form 10-K (or any
other form as may then be available for such purpose), such earnings statement shall be made
so generally available no later than the due date by which the Guarantor is required,
pursuant to the Exchange Act (subject to any applicable extensions under Rule 12b-25
thereunder), to file such report with the SEC; and (ii) with respect to an earnings
statement which will be contained in any combination of reports on Form 10-K or Form 10-Q
(or any other form(s) as may then be available for such purpose), such earnings statement
shall be made so generally available no later than the due date by which the Guarantor is
required, pursuant to the Exchange Act (subject to any applicable extensions under Rule
12b-25 thereunder), to file the last of such reports which together constitute such earnings
statement.

     (n) Cooperate with each Notice Holder to facilitate the timely preparation and delivery
of certificates representing Registrable Securities sold pursuant to a Shelf Registration
Statement, which certificates shall not bear any restrictive legends, and cause such
Registrable Securities to be in such denominations as are permitted by the Indenture and
registered in such names as such Notice Holder may request in writing at least three (3)
Business Days prior to any sale of such Registrable Securities.

     (o) Provide a CUSIP number for all Registrable Securities covered by a Shelf
Registration Statement not later than the effective date of the Initial Shelf Registration
Statement and provide the Trustee and the transfer agent for the Common Stock with
certificates for the Registrable Securities that are in a form eligible for deposit with The

-19-

 

 Depository Trust Guarantor.

     (p) Cooperate and assist in any filings required to be made with the National
Association of Securities Dealers, Inc.

     (q) Upon the filing of the Initial Shelf Registration Statement, and upon the
effectiveness under the Securities Act of the Initial Shelf Registration Statement, announce
the same, in each case by release through a reputable national newswire service.

     (r) Take all actions and enter into such customary agreements (including, if requested,
an underwriting agreement in customary form) as are necessary, or reasonably requested by
the Holders of a majority of the Registrable Securities being sold, in order to expedite or
facilitate disposition of such Registrable Securities; and in such connection, if an
underwriting agreement or similar agreement is entered into and whether or not the
registration is an underwritten registration:

     (i) the Guarantor shall make such representations and warranties to the Holders
of such Registrable Securities and the underwriters, if any, in form, substance and
scope as would be customarily made by the Guarantor to underwriters in similar
offerings of securities;

     (ii) the Guarantor shall obtain opinions of counsel of the Guarantor and
updates thereof (which counsel and opinions (in form, scope and substance) shall be
reasonably satisfactory to the Managing Underwriters, if any, and to the counsel to
the Holders of the Registrable Securities being sold) addressed to each selling
Holder and the underwriters, if any, covering the matters that would be customarily
covered in opinions requested in sales of securities or underwritten offerings;

     (iii) the Guarantor shall obtain “comfort letters” and updates thereof from the
Guarantor’s independent certified public accountants (and, if necessary, any other
independent certified public accountants of any subsidiary of the Guarantor or of
any business acquired by the Guarantor for which financial statements are, or are
required to be, included in any Shelf Registration Statement) addressed to the
underwriters, if any, and the selling Holders of Registrable Securities (to the
extent consistent with Statement on Auditing Standards No. 72 of the American
Institute of Certified Public Accounts), such letters to be in customary form and
covering matters of the type that would customarily be covered in “comfort letters”
to underwriters in connection with similar underwritten offerings;

     (iv) the Guarantor shall, if an underwriting agreement is entered into, cause
any such underwriting agreement to contain customary indemnification provisions and
procedures; and

-20-

 

     (v) the Guarantor shall deliver such documents and certificates as may be
reasonably requested and as are customarily delivered in similar offerings to the
holders of a majority of the Registrable Securities being sold and to the Managing
Underwriters, if any;

the above to be done in connection with any underwriting or similar agreement as and to the
extent required thereunder.

     (s) Cause the Underlying Common Stock to be listed on the New York Stock Exchange.

     (t) In the event that any broker-dealer registered under the Exchange Act shall
underwrite any Registrable Securities or participate as a member of an underwriting
syndicate or selling group or “participate in a public offering” (within the meaning of the
Conduct Rules (the “NASD Rules”) of the National Association of Securities Dealers,
Inc.) thereof, whether as a Holder of such Registrable Securities or as an underwriter, a
placement or sales agent or a broker or dealer in respect thereof, or otherwise, the
Guarantor will assist such broker-dealer in complying with the requirements of such NASD
Rules, including, without limitation, by: (i) if such NASD Rules, including NASD Rule 2720,
shall so require, engaging a “qualified independent underwriter” (as defined in NASD Rule
2720) to participate in the preparation of the Shelf Registration Statement relating to such
Registrable Securities, to exercise usual standards of due diligence in respect thereof and,
if any portion of the offering contemplated by such Shelf Registration Statement is an
underwritten offering or is made through a placement or sales agent, to recommend the yield
or price, as the case may be, of such Registrable Securities; (ii) indemnifying any such
qualified independent underwriter to the extent of the indemnification of underwriters
provided in Section 6 hereof; and (iii) providing such information to such broker-dealer as
may be required in order for such broker-dealer to comply with the requirements of the NASD
Rules.

     4. Holder’s Obligations. Each Holder agrees, by acquisition of the Registrable
Securities, that no Holder of Registrable Securities shall be entitled to sell any of such
Registrable Securities pursuant to a Shelf Registration Statement or to receive a Prospectus
relating thereto, unless such Holder has furnished the Guarantor with a Notice and Questionnaire as
required pursuant to Section 2(d) hereof (including the information required to be included in such
Notice and Questionnaire) and the information set forth in the next sentence. Each Notice Holder
agrees promptly to furnish to the Guarantor all information required to be disclosed in order to
make the information previously furnished to the Guarantor by such Notice Holder not misleading and
any other information regarding such Notice Holder and the distribution of such Registrable
Securities as the Guarantor may from time to time reasonably request. Any sale of any Registrable
Securities by any Holder shall constitute a representation and warranty by such Holder that the
Holder Information of such Holder furnished in writing by or on behalf of such Holder to the
Guarantor does not include an untrue statement of a material fact or omit to state a material fact
necessary in order to make the statements in such Holder Information, in the light of the
circumstances under which they were made, not misleading.

-21-

 

     5. Registration Expenses. The Guarantor shall bear all fees and expenses incurred in
connection with the performance by the Guarantor of its obligations under Section 2 and Section 3
of this Agreement whether or not any of the Shelf Registration Statements are filed or declared
effective under the Securities Act. Such fees and expenses (“Registration Expenses”) shall
include, without limitation, (i) all registration and filing fees and expenses (including, without
limitation, fees and expenses (x) with respect to filings required to be made with the National
Association of Securities Dealers, Inc. and (y) of compliance with federal securities laws and
state securities or Blue Sky laws (including, without limitation, reasonable fees and disbursements
of counsel for the Holders in connection with Blue Sky qualifications of the Registrable Securities
under the laws of such jurisdictions as the Notice Holders of a majority of the Registrable
Securities being sold pursuant to a Shelf Registration Statement may designate), (ii) all printing
expenses (including, without limitation, expenses of printing certificates for Registrable
Securities in a form eligible for deposit with The Depository Trust Company and printing
Prospectuses), (iii) all duplication and mailing expenses relating to copies of any Shelf
Registration Statement or Prospectus delivered to any Holders hereunder, (iv) all fees and
disbursements of counsel for the Guarantor, (v) all fees and disbursements of the Trustee and its
counsel and of the registrar and transfer agent for the Common Stock and (vi) Securities Act
liability insurance obtained by the Guarantor in its sole discretion. In addition, the Guarantor
shall pay the internal expenses of the Guarantor (including, without limitation, all salaries and
expenses of officers and employees performing legal or accounting duties), the expense of any
annual audit or quarterly review, the fees and expenses incurred in connection with the listing by
the Guarantor of the Registrable Securities on any securities exchange or quotation system on which
similar securities of the Guarantor are then listed and the fees and expenses of any person,
including, without limitation, special experts, retained by the Guarantor. If the Guarantor shall,
pursuant to Rule 456(b), defer payment of any registration fees due under the Securities Act with
respect to any Registration Statement, the Guarantor agrees that it shall pay the fees applicable
to such Registration Statement within the time required by Rule 456(b)(1)(i) (without reliance on
the proviso to Rule 456(b)(1)(i)) and in compliance with Rule 456(b) and Rule 457(r). In addition
and notwithstanding the foregoing, the Guarantor shall pay the reasonable fees and disbursements of
only one counsel for the Holders in connection with the Shelf Registration Statement.

     6. Indemnification, Contribution.

     (a) The Guarantor and the Issuer agree to indemnify, defend and hold harmless each
Initial Purchaser, each Holder, each person (a “Controlling Person”), if any, who
controls any Initial Purchaser or Holder within the meaning of Section 15 of the Securities
Act or Section 20 of the Exchange Act and the respective officers, directors, partners,
employees, representatives and agents of any Initial Purchaser, the Holders or any
Controlling Person (each, an “Indemnified Party”), from and against any loss,
damage, expense, liability, claim or any actions in respect thereof (including the
reasonable cost of investigation) which such Indemnified Party may incur or become subject
to under the Securities Act, the Exchange Act or otherwise, insofar as such loss, damage,
expense, liability, claim or action arises out of or is based upon any untrue statement or
alleged untrue statement of a material fact contained in any Shelf Registration Statement or
Prospectus, including any document incorporated by reference

-22-

 

therein, or in any amendment or supplement thereto or in any preliminary prospectus, or
arises out of or is based upon any omission or alleged omission to state a material fact
required to be stated in any Shelf Registration Statement or in any amendment or supplement
thereto or necessary to make the statements therein not misleading, or arises out of or is
based upon any omission or alleged omission to state a material fact necessary in order to
make the statements made in any Prospectus or in any amendment or supplement thereto or in
any preliminary prospectus, in the light of the circumstances under which such statements
were made, not misleading, and the Guarantor and the Issuer shall reimburse, as incurred,
the Indemnified Parties for any legal or other expenses reasonably incurred by them in
connection with investigating or defending any such loss, damage, expense, liability, claim
or action in respect thereof; provided, however, that the Guarantor and the
Issuer shall not be required to provide any indemnification pursuant to this Section 6(a) in
any such case insofar as any such loss, damage, expense, liability, claim or action arises
out of or is based upon (i) any untrue statement or omission or alleged untrue statement or
omission of a material fact contained in, or omitted from, and in conformity with
information furnished in writing by or on behalf of an Initial Purchaser or a Holder to the
Guarantor expressly for use in, any Shelf Registration Statement or any Prospectus or (ii) a
disposition, pursuant to a Shelf Registration Statement, of Registrable Securities by an
Indemnified Party during a Suspension Period, provided such Indemnified Party received,
prior to such disposition, a Suspension Notice with respect to such Suspension Period;
provided further, however, that this indemnity agreement will be in
addition to any liability which the Guarantor and the Issuer may otherwise have to such
Indemnified Party.

     (b) Each Holder, severally and not jointly, agrees to indemnify, defend and hold
harmless the Guarantor and the Issuer, each of its directors, officers, employees,
representatives, agents and any person who controls the Guarantor and the Issuer within the
meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act (each, a
“Guarantor Indemnified Party”) from and against any loss, damage, expense,
liability, claim or any actions in respect thereof (including the reasonable cost of
investigation) which such Guarantor Indemnified Party may incur or become subject to under
the Securities Act, the Exchange Act or otherwise, insofar as such loss, damage, expense,
liability, claim or action arises out of or is based upon (A) any untrue statement or
alleged untrue statement of a material fact contained in, and in conformity with information
(the “Holder Information”) furnished in writing by or on behalf of such Holder to
the Guarantor expressly for use in, any Shelf Registration Statement or Prospectus, or
arises out of or is based upon any omission or alleged omission to state a material fact in
connection with such Holder Information, which material fact was not contained in such
Holder Information, and which material fact was either required to be stated in any Shelf
Registration Statement or Prospectus or necessary to make such Holder Information not
misleading, (B) a sale, by such Holder pursuant to a Shelf Registration Statement in or with
respect to which such Holder is named as a selling securityholder, of Registrable Securities
during a Suspension Period, provided that the Guarantor shall have theretofore provided such
Holder a Suspension Notice in accordance with Section 3(k), or (C) a public sale of
Registrable Securities by such Holder without delivery, if required by the Securities Act,
of the most recent applicable Prospectus provided to such Holder by the

-23-

 

Guarantor pursuant to Section 3(i) or Section 2(d)(i)(C), provided the Guarantor shall
have theretofore provided such Holder with copies of such Prospectus in a timely manner so
as to permit such delivery; and, subject to the limitation set forth in the immediately
preceding clause, each Holder shall reimburse, as incurred, the Guarantor and the Issuer for
any legal or other expenses reasonably incurred by the Guarantor and the Issuer or any such
controlling person in connection with investigating or defending any loss, damage, expense,
liability, claim or action in respect thereof. This indemnity agreement will be in addition
to any liability which such Holder may otherwise have to the Guarantor and the Issuer or any
of its controlling persons. In no event shall the liability of any selling Holder of
Registrable Securities hereunder be greater in amount than the dollar amount of the proceeds
received by such Holder upon the sale, pursuant to the Shelf Registration Statement, of the
Registrable Securities giving rise to such indemnification obligation.

     (c) If any action, suit or proceeding (each, a “Proceeding”) is brought against
any person in respect of which indemnity may be sought pursuant to either Section 6(a) or
Section 6(b), such person (the “Indemnified Party”) shall promptly notify the person
against whom such indemnity may be sought (the “Indemnifying Party”) in writing of
the institution of such Proceeding and the Indemnifying Party shall assume the defense of
such Proceeding; provided, however, that the omission to so notify such
Indemnifying Party shall not relieve such Indemnifying Party from any liability which it may
have to such Indemnified Party or otherwise. Such Indemnified Party shall have the right to
employ its own counsel in any such case, but the fees and expenses of such counsel shall be
at the expense of such Indemnified Party unless the employment of such counsel shall have
been authorized in writing by such Indemnifying Party in connection with the defense of such
Proceeding or such Indemnifying Party shall not have employed counsel to have charge of the
defense of such Proceeding within thirty (30) days of the receipt of notice thereof or such
Indemnified Party shall have reasonably concluded upon the written advice of counsel that
there may be one or more defenses available to it that are different from, additional to or
in conflict with those available to such Indemnifying Party (in which case such Indemnifying
Party shall not have the right to direct that portion of the defense of such Proceeding on
behalf of the Indemnified Party, but such Indemnifying Party may employ counsel and
participate in the defense thereof but the fees and expenses of such counsel shall be at the
expense of such Indemnifying Party), in any of which events such reasonable fees and
expenses shall be borne by such Indemnifying Party and paid as incurred (it being
understood, however, that such Indemnifying Party shall not be liable for the expenses of
more than one separate counsel in any one Proceeding or series of related Proceedings
together with reasonably necessary local counsel representing the Indemnified Parties who
are parties to such action). An Indemnifying Party shall not be liable for any settlement
of such Proceeding effected without the written consent of such Indemnifying Party, but if
settled with the written consent of such Indemnifying Party, such Indemnifying Party agrees
to indemnify and hold harmless an Indemnified Party from and against any loss or liability
by reason of such settlement. Notwithstanding the foregoing sentence, if at any time an
Indemnified Party shall have requested an Indemnifying Party to reimburse such Indemnified
Party for fees and expenses of counsel as contemplated by the second sentence of this
paragraph,

-24-

 

then such Indemnifying Party agrees that it shall be liable for any settlement of any
Proceeding effected without its written consent if (i) such settlement is entered into more
than sixty (60) Business Days after receipt by such Indemnifying Party of the aforesaid
request, (ii) such Indemnifying Party shall not have fully reimbursed such Indemnified Party
in accordance with such request prior to the date of such settlement and (iii) such
Indemnified Party shall have given such Indemnifying Party at least thirty (30) days’ prior
notice of its intention to settle. No Indemnifying Party shall, without the prior written
consent of any Indemnified Party, effect any settlement of any pending or threatened
Proceeding in respect of which such Indemnified Party is or could have been a party and
indemnity could have been sought hereunder by such Indemnified Party, unless such settlement
includes an unconditional release of such Indemnified Party from all liability on claims
that are the subject matter of such Proceeding and does not include an admission of fault or
culpability or a failure to act by or on behalf of such Indemnified Party.

     (d) If the indemnification provided for in this Section 6 is unavailable to an
Indemnified Party under Section 6(a) or Section 6(b), or insufficient to hold such
Indemnified Party harmless, in respect of any losses, damages, expenses, liabilities, claims
or actions referred to therein, then each applicable Indemnifying Party, in lieu of
indemnifying such Indemnified Party, shall contribute to the amount paid or payable by such
Indemnified Party as a result of such losses, damages, expenses, liabilities, claims or
actions (i) in such proportion as is appropriate to reflect the relative benefits received
by the Guarantor and the Issuer, on the one hand, and by the Holders or the Initial
Purchasers, on the other hand, from the offering of the Registrable Securities or (ii) if
the allocation provided by clause (i) above is not permitted by applicable law, in such
proportion as is appropriate to reflect not only the relative benefits referred to in clause
(i) above but also the relative fault of the Guarantor and the Issuer, on the one hand, and
of the Holders or the Initial Purchasers, on the other hand, in connection with the
statements or omissions which resulted in such losses, damages, expenses, liabilities,
claims or actions, as well as any other relevant equitable considerations. The relative
fault of the Guarantor and the Issuer, on the one hand, and of the Holders or the Initial
Purchasers, on the other hand, shall be determined by reference to, among other things,
whether the untrue statement or alleged untrue statement of a material fact or omission or
alleged omission relates to information supplied by the Guarantor and the Issuer or by the
Holders or the Initial Purchasers and the parties’ relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission. The amount
paid or payable by a party as a result of the losses, damages, expenses, liabilities, claims
and actions referred to above shall be deemed to include any reasonable legal or other fees
or expenses reasonably incurred by such party in connection with investigating or defending
any Proceeding.

     (e) The Guarantor, the Issuer, the Holders and the Initial Purchasers agree that it
would not be just and equitable if contribution pursuant to this Section 6 were determined
by pro rata allocation or by any other method of allocation which does not take account of
the equitable considerations referred to in Section 6(d) above. Notwithstanding the
provisions of this Section 6, no Holder shall be required to

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contribute any amount in excess of the amount by which the total price at which the
Registrable Securities giving rise to such contribution obligation and sold by such Holder
were offered to the public exceeds the amount of any damages which it has otherwise been
required to pay by reason of such untrue or alleged untrue statement or omission or alleged
omission. No person guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the Securities Act) shall be entitled to contribution from any person who was not
guilty of such fraudulent misrepresentation. The Holders’ respective obligations to
contribute pursuant to this Section 6 are several in proportion to the respective amount of
Registrable Securities they have sold pursuant to a Shelf Registration Statement, and not
joint. The remedies provided for in this Section 6 are not exclusive and shall not limit
any rights or remedies which may otherwise be available to any indemnified party at law or
in equity.

     (f) The indemnity and contribution provisions contained in this Section 6 shall remain
operative and in full force and effect regardless of (i) any termination of this Agreement,
(ii) any investigation made by or on behalf of any Holder or the Initial Purchasers or any
person controlling any Holder or Initial Purchaser, or the Guarantor, or the Issuer, or the
Guarantor’s or the Issuer’s officers or directors or any person controlling the Guarantor or
the Issuer and (iii) the sale of any Registrable Security by any Holder.

     7. Information Requirements.

     (a) The Guarantor covenants that, if at any time before the end of the Effectiveness
Period it is not subject to the reporting requirements of the Exchange Act, it will
cooperate with any Holder of Registrable Securities and take such further action as any
Holder of Registrable Securities may reasonably request in writing (including, without
limitation, making such representations as any such Holder may reasonably request), all to
the extent required from time to time to enable such Holder to sell Registrable Securities
without registration under the Securities Act within the limitations of the exemptions
provided by Rule 144, Rule 144A and Regulation S under the Securities Act and customarily
taken in connection with sales pursuant to such exemptions. Upon the written request of any
Holder, the Guarantor shall deliver to such Holder a written statement as to whether the
Guarantor has complied with the reporting requirements of the Exchange Act, unless such a
statement has been included in the Guarantor’s most recent report filed with the SEC
pursuant to Section 13 or Section 15(d) of Exchange Act. Notwithstanding the foregoing,
nothing in this Section 7 shall be deemed to require the Guarantor to register any of its
securities (other than the Common Stock) under any section of the Exchange Act.

     (b) The Guarantor shall file the reports required to be filed by it under the Exchange
Act and shall comply with all other requirements set forth in the instructions to Form S-3
in order to allow the Guarantor to be eligible to file registration statements on Form S-3.
The Guarantor shall use its commercially reasonable best efforts to remain eligible,
pursuant to Rule 430B(b), to omit, from the prospectus that is filed as part of a
Registration Statement, the identities of selling securityholders and amounts of securities

-26-

 

to be registered on their behalf.

     8. Underwritten Registrations.

     (a) If any of the Registrable Securities covered by the Shelf Registration Statement
are to be offered and sold in an underwritten offering, the investment banker or investment
bankers and manager or managers that will administer the offering (“Managing
Underwriters”) shall be selected by the holders of a majority of such Registrable
Securities to be included in such offering.

     (b) No person may participate in any underwritten registration hereunder unless such
person (i) agrees to sell such person’s Registrable Securities on the basis reasonably
provided in any underwriting arrangements approved by the persons entitled hereunder to
approve such arrangements and (ii) completes and executes all questionnaires, powers of
attorney, indemnities, underwriting agreements and other documents reasonably required under
the terms of such underwriting arrangements.

     (c) Notwithstanding anything herein to the contrary, in no event shall Registrable
Securities be offered and sold pursuant hereto through a Shelf Registration Statement
pursuant to an underwritten offering without the prior written agreement of the Guarantor.

     9. Miscellaneous.

     (a) Remedies. The Guarantor and the Issuer acknowledge and agree that any
failure by the Guarantor or the Issuer to comply with their obligations under this Agreement
may result in material irreparable injury to the Initial Purchasers and the Holders for
which there is no adequate remedy at law, that it will not be possible to measure damages
for such injuries precisely and that, in the event of any such failure, any Initial
Purchaser or Holder may obtain such relief as may be required to specifically enforce the
Guarantor’s and the Issuer’s obligations under this Agreement. The Guarantor and the Issuer
further agree to waive the defense in any action for specific performance that a remedy at
law would be adequate. Notwithstanding the foregoing two sentences, this Section 9(a) shall
not apply to the subject matter referred to in and contemplated by Section 2(e).

     (b) No Conflicting Agreements. The Guarantor and the Issuer are not, as of the
date hereof, a party to, nor shall they, on or after the date of this Agreement, enter into,
any agreement with respect to the Guarantor’s securities that conflicts with the rights
granted to the Holders in this Agreement. The Guarantor and the Issuer represent and
warrant that the rights granted to the Holders hereunder do not in any way conflict with the
rights granted to the holders of the Guarantor’s or the Issuer’s securities under any other
agreements. The Guarantor and the Issuer will not take any action with respect to the
Registrable Securities which would adversely affect the ability of any of the Holders to
include such Registrable Securities in a registration undertaken pursuant to this Agreement.
The Guarantor represents and covenants that it has not granted, and shall

-27-

 

not grant, to any of its securityholders (other than the Holders in such capacity) the
right to include any of the Guarantor’s securities in any Shelf Registration Statement filed
pursuant to this Agreement.

     (c) Amendments and Waivers. The provisions of this Agreement, including the
provisions of this sentence, may not be amended, modified or supplemented, and waivers or
consents to departures from the provisions hereof may not be given, unless the Guarantor has
obtained the written consent of Holders of a majority of outstanding Registrable Securities;
provided, however, that, no consent is necessary from any of the Holders in
the event that this Agreement is amended, modified or supplemented for the purpose of curing
any ambiguity, defect or inconsistency that does not adversely affect the rights of any
Holders. Notwithstanding the foregoing, a waiver or consent to depart from the provisions
hereof with respect to a matter that relates exclusively to the rights of Holders of
Registrable Securities whose securities are being sold pursuant to a Shelf Registration
Statement and that does not directly or indirectly affect the rights of other Holders of
Registrable Securities may be given by Holders of at least a majority of the Registrable
Securities being sold by such Holders pursuant to such Shelf Registration Statement;
provided, however, that the provisions of this sentence may not be amended,
modified, or supplemented except in accordance with the provisions of the immediately
preceding sentence. Each Holder of Registrable Securities outstanding at the time of any
such amendment, modification, supplement, waiver or consent or thereafter shall be bound by
any such amendment, modification, supplement, waiver or consent effected pursuant to this
Section 9(c), whether or not any notice, writing or marking indicating such amendment,
modification, supplement, waiver or consent appears on the Registrable Securities or is
delivered to such Holder.

     (d) Notices. All notices and other communications provided for or permitted
hereunder shall be made in writing by hand delivery, by telecopier, by courier guaranteeing
overnight delivery or by first-class mail, return receipt requested, and shall be deemed
given (A) when made, if made by hand delivery, (B) upon confirmation, if made by telecopier,
(C) one (1) Business Day after being deposited with such courier, if made by overnight
courier or (D) on the date indicated on the notice of receipt, if made by first-class mail,
to the parties as follows:

     (i) if to a Holder, at the most current address given by such Holder to the
Guarantor in a Notice and Questionnaire or any amendment thereto;

	 	(ii)	 	if to the Guarantor or the Issuer, to:
	 
	 		 	1000 Urban Center Drive, Suite 501

Birmingham, Alabama 35242

Attention: Chief Financial Officer

Telecopy No.: (205) 969-3756
	 
	 	(iii)	 	if to the Initial Purchasers, to:

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c/o UBS Securities LLC

299 Park Avenue

New York, New York 10171

Attention: Syndicate Department

Telecopy No.: (212) 713-1205

and

c/o J.P. Morgan Securities Inc.

277 Park Avenue

New York, New York 10172

Attention: Syndicate Desk

Telecopy No.: 212-270-1063

with a copy to (for informational purposes only):

UBS Securities LLC

299 Park Avenue

New York, New York 10171

Attention: Legal Department

Telecopy No.: (212) 821-4042

and

UBS Securities LLC

677 Washington Boulevard

Stamford, Connecticut 06901

Attention: Syndicate Department

Telecopy No.: (203) 719-0683

or to such other address as such person may have furnished to the other persons identified
in this Section 9(d) in writing in accordance herewith.

     (e) Majority of Registrable Securities. For purposes of determining what
constitutes holders of a majority of Registrable Securities, as referred to in this
Agreement, a majority shall constitute a majority in aggregate principal amount of
Registrable Securities, treating each relevant holder of shares of Underlying Common Stock,
Redemption or Repurchase Upon Designated Event of the Notes as a holder of the aggregate
principal amount of Notes in respect of which such Common Stock was issued.

     (f) Approval of Holders. Whenever the consent or approval of Holders of a
specified percentage of Registrable Securities is required hereunder, Registrable Securities
held by the Guarantor or its “affiliates” (as such term is defined in Rule 405 under the
Securities Act) (other than the Initial Purchasers or subsequent Holders of Registrable
Securities, if the Initial Purchasers or such subsequent Holders are deemed to be such
affiliates solely by reason of their holdings of such Registrable Securities) shall

-29-

 

not be counted in determining whether such consent or approval was given by the Holders
of such required percentage.

     (g) Third Party Beneficiaries. The Holders shall be third party beneficiaries
to the agreements made hereunder between the Guarantor and the Issuer, on the one hand, and
the Initial Purchasers, on the other hand, and shall have the right to enforce such
agreements directly to the extent they may deem such enforcement necessary or advisable to
protect their rights or the rights of Holders hereunder. The Trustee shall be entitled to
the rights granted to it pursuant to this Agreement.

     (h) Successors and Assigns. Any person who purchases any Notes or Covered
Security from any Initial Purchaser or from any Holder shall be deemed, for purposes of this
Agreement, to be an assignee of such Initial Purchaser or such Holder, as the case may be.
This Agreement shall inure to the benefit of and be binding upon the respective successors
and assigns of each of the parties hereto and shall inure to the benefit of and be binding
upon each Holder of any Notes or Covered Security.

     (i) Counterparts. This Agreement may be executed in any number of counterparts
and by the parties hereto in separate counterparts, each of which when so executed shall be
deemed to be original and all of which taken together shall constitute one and the same
agreement.

     (j) Headings. The headings in this Agreement are for convenience of reference
only and shall not limit or otherwise affect the meaning hereof.

     (k) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAWS
PRINCIPLES THEREOF.

     (l) Severability. If any term, provision, covenant or restriction of this
Agreement is held to be invalid, illegal, void or unenforceable, the remainder of the terms,
provisions, covenants and restrictions set forth herein shall remain in full force and
effect and shall in no way be affected, impaired or invalidated thereby, and the parties
hereto shall use their best efforts to find and employ an alternative means to achieve the
same or substantially the same result as that contemplated by such term, provision, covenant
or restriction, it being intended that all of the rights and privileges of the parties shall
be enforceable to the fullest extent permitted by law.

     (m) Entire Agreement. This Agreement is intended by the parties hereto as a
final expression of their agreement and is intended to be a complete and exclusive statement
of the agreement and understanding of the parties hereto in respect of the subject matter
contained herein and the registration rights granted by the Guarantor with respect to the
Registrable Securities. Except as provided in the Purchase Agreement, there are no
restrictions, promises, warranties or undertakings, other than those set forth or referred
to herein, with respect to the registration rights granted by the Guarantor with

-30-

 

respect to the Registrable Securities. This Agreement supersedes all prior agreements
and undertakings among the parties with respect to such registration rights. No party
hereto shall have any rights, duties or obligations other than those specifically set forth
in this Agreement.

     (n) Termination. This Agreement and the obligations of the parties hereunder
shall terminate upon the end of the Effectiveness Period, except for any liabilities or
obligations under Section 4, Section 5 or Section 6 hereof and the obligations to make
payments of and provide for additional interest under Section 2(e) hereof to the extent such
additional interest accrues prior to the end of the Effectiveness Period and to the extent
any overdue additional interest accrues in accordance with the last paragraph of such
Section 2(e), each of which shall remain in effect in accordance with its terms.

     (o) Submission to Jurisdiction. Except as set forth below, no claim,
counterclaim or dispute of any kind or nature whatsoever arising out of or in any way
relating to this Agreement (“Claim”) may be commenced, prosecuted or continued in
any court other than the courts of the State of New York located in the City and County of
New York or in the United States District Court for the Southern District of New York, which
courts shall have jurisdiction over the adjudication of such matters, and the Guarantor and
the Issuer hereby consents to the jurisdiction of such courts and personal service with
respect thereto. The Guarantor and the Issuer hereby consents to personal jurisdiction,
service and venue in any court in which any Claim arising out of or in any way relating to
this Agreement is brought by any third party against any Initial Purchaser. THE GUARANTOR
AND THE ISSUER HEREBY WAIVES ALL RIGHTS TO TRIAL BY JURY IN ANY PROCEEDING (WHETHER BASED
UPON CONTRACT, TORT OR OTHERWISE) IN ANY WAY ARISING OUT OF OR RELATING TO THIS AGREEMENT.
The Guarantor and the Issuer agrees that a final judgment in any such Proceeding brought in
any such court shall be conclusive and binding upon the Guarantor or the Issuer and may be
enforced in any other courts in the jurisdiction of which the Guarantor or the Issuer is or
may be subject, by suit upon such judgment.

[The Remainder of This Page Intentionally Left Blank; Signature Page Follows]

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     In Witness Whereof, the parties have executed this Agreement as of the date first
written above.

	 	 	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Medical Properties Trust, Inc.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Edward K. Aldag, Jr.	 	 
	 	 	 	 	 	 	 
	 	 	Name: Edward K. Aldag, Jr.	 	 
	 	 	Title: Chairman, President and CEO	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	MPT Operating Partnership L.P.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By: Medical Properties Trust, LLC	 	 
	 	 	Its: General Partner	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	By: Medical Properties Trust, Inc.	 	 
	 	 	 	 	Its: Sole Member	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ Edward K. Aldag, Jr.	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name: Edward K. Aldag, Jr.	 	 
	 

	 	 	 	 	 	Title: Chairman, President and CEO	 	 

 

 

Accepted and agreed to as of the date

first above written, on behalf of

itself and the other several Initial

Purchasers:

UBS Securities LLC

	 	 	 	 	 
	By:

	 	/s/ John Santemma	 	 
	 

	 	 	 	 
	 

	 	Name: John Santemma	 	 
	 

	 	Title: Managing Director	 	 
	 
	 	 	 	 
	By:

	 	/s/ Keith Lockwood	 	 
	 

	 	 	 	 
	 

	 	Name: Keith Lockwood	 	 
	 

	 	Title: Direcotr	 	 
	 
	 	 	 	 
	J.P. Morgan Securities Inc.

	 	 
	 
	 	 	 	 
	By:

	 	/s/ Santosh Screenivisan	 	 
	 

	 	 	 	 
	 

	 	Name: Santosh Screenivisan	 	 
	 

	 	Title: Vice President

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