Document:

EX-4.6
       ADDENDUM TO CONVERTIBLE DEBENTURE AND WARRANT TO
                     PURCHASE COMMON STOCK

ADDENDUM TO CONVERTIBLE DEBENTURE, WARRANT TO PURCHASE COMMON STOCK
AND SECURITIES PURCHASE AGREEMENT

This Addendum to Convertible Debenture, Warrant to Purchase Common
Stock and Securities Purchase Agreement ("Addendum") is entered into
as of the 7th day of February 2006 by and between World Am, Inc., a
Nevada corporation ("World Am"), and Golden Gate Investors, Inc., a
California corporation ("GGI").

WHEREAS, GGI and World Am are parties to that certain 6 _ %
Convertible Debenture dated as of January 23, 2006 ("Debenture"); and

WHEREAS, GGI and World Am are parties to that certain Warrant to
Purchase Common Stock dated as of January 23, 2006 ("Warrant"); and

WHEREAS, GGI and World Am are parties to that certain Securities
Purchase Agreement dated as of January 23, 2006; and

WHEREAS, the parties desire to amend the Debenture, Warrant and
Securities Purchase Agreement in certain respects.

NOW, THEREFORE, in consideration of the mutual promises and covenants
contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, World Am
and GGI agree as follows:

1.  All terms used herein and not otherwise defined herein shall
    have the definitions set forth in the Debenture, the Warrant or
    the Securities Purchase Agreement.

2.  The Debenture Principal Amount shall be $100,000. The Purchase
    Price for the Debenture shall be $100,000.  Simultaneously with
    the execution of this Addendum, GGI shall pay the Purchase Price
    by wire transfer of immediately available funds to World Am. The
    second sentence of section 3.1(a) of the Debenture is amended to
    read as follows: "The number of shares into which this Debenture
    may be converted is equal to the dollar amount of the Debenture
    being converted multiplied by 110, minus the product of the
    Conversion Price multiplied by 100 times the dollar amount of
    the Debenture being converted, and the entire foregoing result
    shall be divided by the Conversion Price."

3.  The Exercise Price of the Warrant shall be $1.09. The Warrant
    shall be exercised in an amount equal to 100 times the amount of
    the Debenture being converted.

4.  GGI will advance up to $50,000 for the payment of legal fees for
    the filing of the Registration Statement for the Conversion
    Shares and the Warrant Shares. The amount actually advanced by
    GGI shall represent a prepayment towards the exercise of Warrant
    Shares under the Warrant, the timing of which shall be at GGI's
    sole discretion.

5.  Upon notification and verification that the Registration
    Statement has been filed with the SEC by February 14, 2006, GGI
    shall wire World Am $100,000, which shall represent a prepayment
    towards the exercise of Warrant Shares under the Warrant, the
    timing of which shall be at GGI's sole discretion.

6.  Once the Registration Statement is declared effective by the SEC
    and World Am is able to issue registered Common Stock to GGI,
    GGI will immediately submit a $250 Debenture conversion and
    related $27,250 Warrant exercise. Within two business days of
    GGI's receipt of the Common Stock from such Debenture conversion
    and Warrant exercise, GGI shall wire the sum of $222,750 to
    World Am, which shall represent a prepayment towards the
    exercise of Warrant Shares under the Warrant, the timing of
    which shall be at GGI's sole discretion.

7.  Except as specifically amended herein, all other terms and
    conditions of the Debenture, Warrant and Securities Purchase
    Agreement shall remain in full force and effect.

IN WITNESS WHEREOF, World Am and GGI have caused this Addendum to be
signed by its duly authorized officers on the date first set forth above.

World Am, Inc.                         Golden Gate Investors, Inc.

By: /s/  Robert A. Hovee               By: /s/  Travis W. Huff
Robert A. Hovee                        Travis W. Huff
Title: Chief Executive Officer         Title: Portfolio ManagerExhibit 4.01

 

CUSIP NO. 52517PE49

 

	
  REGISTERED

  	
   

  	
  PRINCIPAL
  AMOUNT: $5,000,000

  
	
  No. R-1

  	
   

  	
   

  

 

 

LEHMAN BROTHERS HOLDINGS INC.

 

MEDIUM-TERM NOTE, SERIES H

 

FX RANGE RESETTING NOTE
DUE FEBRUARY 7, 2007

 

THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF
THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE
DEPOSITORY OR A NOMINEE OF THE DEPOSITORY. 
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) TO THE
COMPANY (AS DEFINED BELOW) OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE
OR PAYMENT AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN.

 

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR
NOTES IN CERTIFICATED FORM (A “CERTIFICATED NOTE”), THIS GLOBAL SECURITY MAY NOT
BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE
DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER
NOMINEE OF THE DEPOSITORY OR BY THE DEPOSITORY OR ANY SUCH NOMINEE TO A
SUCCESSOR DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITORY.

 

 

LEHMAN BROTHERS HOLDINGS INC., a corporation duly
organized and existing under the laws of the State of Delaware (herein called
the “Company,” 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 registered assigns, on the
applicable Interest Payment Date, an amount equal to the Interest Amount and,
on the Maturity Date, 100% of the principal amount of the Notes.

The “Maturity Date” is February 7, 2007, or if
such day is not a Business Day, on the next following Business Day.

 

The “Interest Payment Dates” are May 5, 2006, August 7,
2006, November 7, 2006 and February 7, 2007.

 

The “Interest Amount” is a single U.S. Dollar payment calculated by the
calculation agent on each corresponding Interest Payment Date equal to the
principal amount of the Notes multiplied by (subject to the occurrence of a
Disruption Event):

 

(A) 2.5%, if the Reference Exchange Rate
has traded strictly within the applicable Reference Range (or on either of the
applicable Range Boundaries) on every day from and including the applicable
Start Date at 10:00 p.m. EST, to but excluding the applicable End Date at
10:00 p.m. EST, of the applicable Reference Range period, as observed on
the continuous trading EBS (Electronic Broking Service) Spot Dealing System; or

 

(B) 0%, if the Reference Exchange Rate
trades outside the applicable Reference Range on any day from and including the
applicable Start Date at 10:00 p.m. EST, to but excluding the applicable
End Date at 10:00 p.m. EST, as observed on the continuous trading EBS Spot
Dealing System.

 

Each “Reference
Range”, which corresponds to a particular Reference Range period, is as
follows: 

 

	
  Range

  Period

  	
   

  	
  Start
  Date

  	
   

  	
  End
  Date

  	
   

  	
  Range
  Midpoint

  (RMi)

  	
   

  	
  Range
  Lower 

  Boundary

  	
   

  	
  Range
  Upper 

  Boundary

  
	
  1

  	
   

  	
  January 31, 2006

  	
   

  	
  April 28, 2006

  	
   

  	
  1.2124

  	
   

  	
  1.1624

  	
   

  	
  1.2624

  
	
  2

  	
   

  	
  April 28, 2006

  	
   

  	
  July 31, 2006

  	
   

  	
  RM2

  	
   

  	
  RM2-0.05

  	
   

  	
  RM2+0.05

  
	
  3

  	
   

  	
  July 31, 2006

  	
   

  	
  October 31, 2006

  	
   

  	
  RM3

  	
   

  	
  RM3-0.05

  	
   

  	
  RM3+0.05

  
	
  4

  	
   

  	
  October 31, 2006

  	
   

  	
  January 31, 2007

  	
   

  	
  RM4

  	
   

  	
  RM4-0.05

  	
   

  	
  RM4+0.05

  

 

If any Start Date or End Date is
not a Valuation Business Day, such Start Date or End Date shall be the next
succeeding Valuation Business Day.

 

The “Range Midpoint” is the Reference Exchange Rate observed on the
Valuation Date observed in accordance with the Settlement Rate Option (subject
to the occurrence of a Price Source Unavailability Event).

 

2

 

The “Valuation Date” for each Reference Range period, is
the Start Date for such period.

 

A “Valuation Business Day” means any day, other than a
Saturday or Sunday, that is neither a legal holiday nor a day on which
commercial banks are authorized or required by law, regulation or executive
order to close (including for dealings in foreign exchange in accordance with
the practice of the foreign exchange market) in the city indicated in the
Settlement Rate Option.

 

The “Reference Exchange Rate” is the spot exchange rate for the
Reference Currency quoted against the U.S. Dollar expressed as the number of
U.S. Dollars per unit of the Reference Currency.

 

The “Reference Currency” is the Euro (EUR).

 

The
“Settlement Rate Option” is the U.S. Dollar/Euro official fixing rate,
expressed as the amount of U.S. Dollars per one Euro, for settlement in two
Business Days reported by the Federal Reserve Bank of New York which appears on
Reuters Screen 1FED to the right of the caption “EUR” at approximately 10.00 a.m.,
New York time, on the relevant Valuation Date.

 

Upon the occurrence of a Disruption Event with respect to
the Reference Currency on any day during the term of the Notes, the calculation
agent shall determine the Interest Amount payable on each Interest Payment Date
following the date on which the Disruption Event occurred in good faith and in
a commercially reasonable manner.

 

A “Disruption Event” means any of the following events
(other than a Price Source Unavailability Event), as determined in good faith
by the calculation agent:

 

(A)                              the occurrence and/or
existence of an event on any day that has the effect of preventing or making
impossible the conversion of the Reference Currency into USD through customary
legal channels;

 

(B)                                the occurrence of any
event causing the Reference Exchange Rate to be split into dual or multiple
currency exchange rates; or

 

(C)                                the occurrence and/or
existence of any event (other than those set forth in (A) or (B) above
or those constituting a Price Source Unavailability Event) with respect to the
Reference Currency that prevents or makes impossible (x) the calculation agent’s
ability to calculate the Interest Amount, (y) the Company’s fulfillment of its
obligations under the Notes, or (z) the ability of the Company or any of its
affiliates through which it hedges its position under the Notes to hedge such
position or to unwind all or a
material portion of such hedge.

 

Upon the occurrence of a Price Source Unavailability Event
on any day in any Reference Range period or on the Valuation Date, as
applicable, and in respect of any Price Source Unavailability Event other than
with respect to the determination of any Range Midpoint, for so long as such
Price Source Unavailability Event is continuing, the Reference Exchange Rate
will be determined in accordance with the Fallback Rate Observation
Methodology.

 

3

 

A “Price Source Unavailability Event” means, as determined in good
faith by the calculation agent, the Reference Exchange Rate being
unavailable, or the occurrence of an event (other than an event constituting a
Disruption Event) that generally makes it impossible to obtain the Reference Exchange Rate, (a) for
purposes of determining any related Range Midpoint, on the relevant
Valuation Date, in accordance with the Settlement Rate Option, or (b) on
any day in any Reference Range period other than for purposes of
determining any Range Midpoint, on the EBS (Electronic Broking Service) Spot
Dealing System.

 

The “Fallback Rate Observation Methodology” means that, in
respect of a Price Source
Unavailability Event occurring on any day in any Reference Range
period (other than for purposes of determining any Range Midpoint on the
relevant Valuation Date), the Reference Exchange Rate will be determined on a
daily basis in accordance with the Settlement Rate Option on that day.  If the Reference Exchange Rate is not
available in accordance with the Settlement Rate Option on such day, or on the
Valuation Date for the purposes of determining any Range Midpoint, the
Reference Exchange Rate will be calculated on the basis of the arithmetic mean
of the applicable spot quotations received by the calculation agent at
approximately 10:00 a.m., New York City time, on the Valuation Business
Day next succeeding that day for the purchase or sale for deposits in the
Reference Currency by the Reference Banks. 
If fewer than three Reference Banks provide spot quotations, then the
Reference Exchange Rate will be calculated on the basis of the arithmetic mean
of the applicable spot quotations received by the calculation agent at
approximately 10:00 a.m., New York City time, on the relevant date from
two Reference Banks (selected in the sole discretion of the calculation agent),
for the purchase or sale for deposits in the Reference Currency.  If these spot quotations are available from
only one Reference Bank, then the calculation agent, in its sole discretion,
will determine which quotation is available and reasonable to be used.  If no spot quotation is available, then the
Reference Exchange Rate will be determined by the calculation agent in good
faith and in a commercially reasonable manner.

 

The “Reference Banks” means the
New York offices of three leading banks engaged in the interbank market
selected in the sole discretion of the Calculation Agent.

 

A “Business Day”,
notwithstanding any provision in the Indenture, is any day that is not is not a
Saturday or Sunday and that is not a day on which banking institutions in New
York City generally are authorized or obligated by law or executive order to be
closed.

 

Except as provided below, an Interest Amount may, at
the option of the Company, be made by check mailed to the person entitled
thereto at such person’s address as it appears on the registry books of the
Company.

 

Payment of the Interest Amount will be made in
immediately available funds in accordance with the normal procedures of the
Trustee (or any duly appointed Paying Agent).

 

The Company will pay any administrative costs imposed
by banks in making payments in immediately available funds, but any tax,
assessment or governmental charge imposed upon payments hereunder, including,
without limitation, any withholding tax, will be borne by the Holder hereof.

 

4

 

References herein to “U.S. dollars” or “U.S.$” or “$”
or “USD” are to the coin or currency of the United States as at the time of
payment is legal tender for the payment of public and private debts.

 

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF
THIS NOTE SET FORTH ON THE REVERSE HEREOF. 
SUCH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS
IF 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 by the Trustee under the Indenture.

 

5

 

IN WITNESS WHEREOF, Lehman Brothers Holdings Inc. has
caused this instrument to be signed by its Chairman of the Board, its
President, its Vice Chairman, its Chief Financial Officer, one of its Vice
Presidents or its Treasurer, by manual or facsimile signature under its
corporate seal, attested by its Secretary or one of its Assistant Secretaries by
manual or facsimile signature.

 

	
  Dated:  February 7, 2006

  	
   

  
	
   

  	
   

  
	
  [SEAL]

  	
  LEHMAN BROTHERS
  HOLDINGS INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Attest:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

 

TRUSTEE’S
CERTIFICATE OF AUTHENTICATION

 

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

 

	
  CITIBANK, N.A.

  	
   

  
	
    as
  Trustee

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By: 

  	
   

  	
   

  
	
   

  	
  Authorized
  Officer

  
				

 

6

 

[REVERSE
OF NOTE]

 

LEHMAN BROTHERS
HOLDINGS INC.

MEDIUM-TERM NOTES,
SERIES H

FX RANGE RESETTING NOTE
DUE FEBRUARY 7, 2007

 

Section 1.  General.  This Note is one of a duly authorized series
of Notes of the Company designated as the Medium-Term Notes, Series H, FX
Range Resetting Note (herein called the “Notes”).  The Notes are one of an
indefinite number of series of debt securities of the Company (collectively,
the “Securities”) issued or issuable under and pursuant to an indenture dated
as of September 1, 1987, as amended and supplemented (the “Indenture”),
duly executed and delivered by the Company and Citibank, N.A., 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 Company and the holders of the Securities.  The separate series of Securities may be
issued in various aggregate principal amounts, may mature at different times,
may bear interest (if any) at different rates, may be subject to different
redemption provisions or repurchase rights (if any), may be subject to
different sinking, purchase or analogous funds (if any), may be subject to
different covenants and Events of Default and may otherwise vary as in the
Indenture provided.

 

Section 2. 
Principal Amount for Indenture Purposes.  For the purpose of determining whether
Holders of the requisite amount of Notes of this series outstanding under the
Indenture have made a demand, given a notice or waiver or taken any other
action, the principal amount of this Note will be deemed to be the principal
amount of this Note then outstanding.

 

Section 3. 
Modification and Waivers. 
The Indenture contains provisions permitting the Company and the
Trustee, with the consent of the Holders of not less than 66-2/3% in aggregate
principal amount of each series of the Securities at the time Outstanding to be
affected, evidenced as in the Indenture provided, 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 Securities of all such
series; provided, however, that no such supplemental indenture shall, among other
things, (i) change the fixed maturity of any Security, or reduce the
Interest Amount or the principal amount thereof, or reduce the rate or extend
the time of payment of interest thereon or reduce any premium or other amount
payable on redemption, or make the Interest Amount or the principal amount
thereof, premium or other amount payable, if any, or interest thereon payable
in any coin or currency other than that herein above provided, without the
consent of the Holder of each Security so affected, or (ii) change the
place of payment on any Security, or impair the right to institute suit for
payment on any Security, or reduce the aforesaid percentage of Securities, the
holders of which are required to consent to any such supplemental indenture,
without the consent of the holders of each Security so affected.  It is also provided in the Indenture that,
prior to any declaration accelerating the maturity of any series of Securities,
the holders of a majority in aggregate principal amount of the Securities of such
series 

 

 

Outstanding may on behalf
of the holders of all the Securities of such series waive any past default or
Event of Default under the Indenture with respect to such series and its
consequences, except a default in the payment of interest, if any, on the
Interest Amount or the principal amount, or premium, if any, on any of the
Securities of such series, or in the payment of any sinking fund installment or
analogous obligation with respect to Securities of such series.  Any such consent or waiver by the Holder of
this Note shall be conclusive and binding upon such Holder and upon all future
holders and owners of this Note and any Notes of this series which may be
issued in exchange or substitution herefor, irrespective of whether or not any
notation thereof is made upon this Note or such other Notes of this series.

 

Section 4. 
Obligations Unconditional. 
No reference herein to the Indenture and no provisions of this Note or
of the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the Interest Amount or the principal amount
on this Note at the place, at the respective times, at the rate, and in the
coin or currency herein prescribed.

 

Section 5. 
Defeasance.  The Indenture
contains provisions for the discharge of the Indenture and defeasance at any
time of the indebtedness on this Note upon compliance by the Company with
certain conditions set forth therein, which provisions apply to this Note.

 

Section 6. 
Authorized Form and Denominations.  The Notes of this series are issuable in
registered form, without coupons.  Each
Note will be issued initially as either a Global Security or a Certificated
Note, at the option of the Company, in denominations of $10,000 or whole
multiples of $5,000, either at the office or agency to be designated and
maintained by the Company for such purpose in the Borough of Manhattan, New
York City, pursuant to the provisions of the Indenture or at any of such other
offices or agencies as may be designated and maintained by the Company for such
purpose pursuant to the provisions of the Indenture, and in the manner and
subject to the limitations provided in the Indenture, but without the payment
of any service charge, except for any tax or other governmental charges imposed
in connection therewith.  Notes of this
series are exchangeable for a like aggregate principal amount of Notes of this
series of a different authorized denomination, except that Global Securities
will not be exchangeable for Certificated Notes of this series.

 

Section 7. 
Registration of Transfer. 
As provided in the Indenture and subject to certain limitations as
therein set forth, the transfer of this Note is registrable in the Security
Register, upon surrender of this Note for registration of transfer, at the
Corporate Trust Office or agency in a Place of Payment for this Note, duly
endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Company and the Security Registrar requiring such written
instrument of transfer duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Notes of this series, of
authorized denominations and for the same aggregate principal amount, will be
issued to the designated transferee or transferees.

 

If at any time the Depository notifies the Company
that it is unwilling or unable to continue as Depository or if at any time the
Depository shall no longer be eligible under the Indenture, the Company shall
appoint a successor Depository.  If a
successor Depository for the Notes of this series is not appointed by the
Company within 90 days after the Company receives such notice or becomes aware
of such ineligibility, the Company will issue, and the Trustee will 

 

 

authenticate and deliver,
Notes of this series in definitive form in an aggregate principal amount equal
to the principal amount of this Note.

 

No service charge shall be made for any such
registration of transfer or exchange, but the Company may require payment of a
sum sufficient to cover any tax or other governmental charge that may be
imposed in connection therewith.

 

Prior to due presentment of this Note for registration
of transfer, the Company, the Trustee and any agent of the Company or the
Trustee may treat the person in whose name this Note is registered as the owner
hereof for all purposes, and neither the Company nor the Trustee nor any agent
of the Company or of the Trustee shall be affected by any notice to the
contrary.

 

Section 8. 
Events of Default.  If an
Event of Default with respect to Notes of this series shall occur and be
continuing, the amount that may be declared due and payable upon any
acceleration of the Notes will be determined by the calculation agent and will
equal, for each Note, the principal amount plus the Interest Amount, if any,
payable in respect of the Reference Range period during which the event of
default occurred, which Interest Amount shall equal the portion of the
Interest Amount deemed to have accrued for such Reference Range period from and
including the Start Date for such Reference Range period to but excluding the
date of early repayment calculated on the basis of a 360-day year consisting of
12 months of 30 days each, and, in the case of an incomplete month, the number
of days elapsed.  If a bankruptcy proceeding is commenced in respect of
the Company, the claim of the beneficial owner of a Note will be capped at the
principal amount plus the Interest Amount, if any, payable in respect of the
Reference Range period during which the date of the commencement of the
proceeding occurred, which Interest Amount shall equal the portion of the
Interest Amount deemed to have accrued for such Reference Range period from and
including the Start Date for such Reference Range period to but excluding the date
of early repayment calculated on the basis of a 360-day year consisting of 12
months of 30 days each, and, in the case of an incomplete month, the number of
days elapsed.  For purposes of determining whether any Interest Amount is
payable in respect of any Reference Range period during which an event of
default occurred or a bankruptcy proceeding was commenced, the End Date for
such Reference Range period shall be deemed to be the date on which such event
of default occurred or such proceeding commenced, respectively.

 

Section 9. 
No Recourse Against Certain Persons.  No recourse for the payment of the Interest
Amount or for any claim based hereon or otherwise in respect hereof, and no
recourse under or upon any obligation, covenant or agreement of the Company in
the Indenture or any Indenture supplemental thereto or in any Note, or because
of the creation of any indebtedness represented thereby, shall be had against
any incorporator, stockholder, officer or director, as such, past, present or
future, of the Company or of any successor corporation, either directly or
through the Company or any successor corporation, whether by virtue of any
constitution, statute or rule of law or by the enforcement of any
assessment or penalty or otherwise, all such liability being, by the acceptance
hereof and as part of the consideration for the issue hereof, expressly waived
and released.

 

 

Section 10. 
Tax Treatment.  The Company agrees, and by acceptance of
Notes of this series, each Holder of such Notes will be deemed to have agreed
to treat the Notes of this series as “variable rate debt instruments” for
United States federal income tax purposes.

 

Section 11.  Defined Terms.  All terms used but not defined in this Note
are used herein as defined in the Indenture.

 

Section 12. 
GOVERNING LAW.  THIS NOTE
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK.

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