Document:

Exhibit 4(e) - Indenture dated 2/1/2003

    
      
        

      

    

    Exhibit
      4(e)

    
 

    COLUMBUS
      SOUTHERN POWER COMPANY

     

    AND

     

    BANK
      ONE,
      N. A.,

     

                                                 

     

    AS
      TRUSTEE

     

    ____________________

     

    INDENTURE

     

    Dated
      as
      of February 1, 2003

     

    ____________________

     

    

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    

    CROSS-REFERENCE
      TABLE

     

    
      	
              Section
                of

              Trust
                Indenture Act

              of
                1939, as amended

            	 	
              Section
                of

              Indenture

            
	 	 
	
              310(a) 

            	
              7.09

            
	
              310(b) 

            	
              7.08

            
	 	
              7.10

            
	
              310(c) 

            	
              Inapplicable

            
	
              311(a) 

            	
              7.13

            
	
              311(b) 

            	
              7.13

            
	
              311(c) 

            	
              Inapplicable

            
	
              312(a) 

            	
              5.01

            
	 	
              5.02(a)

            
	
              312(b) 

            	
              5.02(c)

            
	 	
              5.02(d)

            
	
              312(c) 

            	
              5.02(e)

            
	
              313(a) 

            	
              5.04(a)

            
	
              313(b) 

            	
              5.04(b)

            
	
              313(c) 

            	
              5.04(a)

            
	 	
              5.04(b)

            
	
              313(d) 

            	
              5.04(c)

            
	
              314(a) 

            	
              5.03

            
	
              314(b) 

            	
              Inapplicable

            
	
              314(c) 

            	
              13.06(a)

            
	
              314(d) 

            	
              Inapplicable

            
	
              314(e) 

            	
              13.06(b)

            
	
              314(f) 

            	
              Inapplicable

            
	
              315(a) 

            	
              7.01(a)

            
	 	
              7.02

            
	
              315(b) 

            	
              6.07

            
	
              315(c) 

            	
              7.01(a)

            
	
              315(d) 

            	
              7.01(b)

            
	
              315(e) 

            	
              6.08

            
	
              316(a) 

            	
              6.06

            
	 	
              8.04

            
	
              316(b) 

            	
              6.04

            
	
              316(c) 

            	
              8.01

            
	
              317(a) 

            	
              6.02

            
	
              317(b) 

            	
              4.03

            
	
              318(a) 

            	
              13.08

            

    

    

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    

    TABLE
      OF
      CONTENTS

     

    This
      Table of Contents does not constitute part of the Indenture and should not
      have
      any bearing upon the interpretation of any of its terms or
      provisions

     

    RECITALS:

     

    
      

        
          	
                  Purpose
                    of Indenture

                	
                   1

                
	
                  Compliance
                    with legal requirements

                	
                   1

                
	
                  Purpose
                    of and consideration for Indenture

                	
                   1

                
	
                  ARTICLE
                    ONE - DEFINITIONS

                	 
	 	
                  Section
                    1.01

                	 
	 	 	
                  Definitions.

                	
                   2

                
	
                  ARTICLE
                    TWO - ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND
                    EXCHANGE OF
                    SECURITIES

                	 
	 	
                  Section
                    2.01

                	 
	 	 	
                  Designation,
                    terms, amount, authentication and delivery of Securities

                	
                   8

                
	 	
                  Section
                    2.02

                	 
	 	 	
                  Form
                    of Security and Trustee’s certificate.

                	
                   9

                
	 	
                  Section
                    2.03

                	
                   9

                
	 	 	
                  Date
                    and denominations of Securities, and provisions for payment of
                    principal,
                    premium and interest

                	
                   9

                
	 	
                  Section
                    2.04

                	 
	 	 	
                  Execution
                    of Securities

                	
                   11

                
	 	
                  Section
                    2.05

                	 
	 	 	
                  Exchange
                    of Securities

                	
                   12

                
	 	
                  Section
                    2.06

                	 
	 	 	
                  Temporary
                    Securities.

                	
                   13

                
	 	
                  Section
                    2.07

                	 
	 	 	
                  Mutilated,
                    destroyed, lost or stolen Securities

                	
                   14

                
	 	
                  Section
                    2.08

                	 
	 	 	
                  Cancellation
                    of surrendered Securities

                	
                   14

                
	 	
                  Section
                    2.09

                	 
	 	 	
                  Provisions
                    of Indenture and Securities for sole benefit of parties and
                    Securityholders

                	
                   15

                
	 	
                  Section
                    2.10

                	 
	 	 	
                  Appointment
                    of Authenticating Agent

                	
                   15

                
	 	
                  Section
                    2.11

                	 
	 	 	
                  Global
                    Security 

                	
                   15

                
	 	Section
                  2.12 	 
	 	 	Payment in Proper Currency	
                   16

                
	 	
                  Section
                    2.13

                	 
	 	 	
                  Identification
                    of Securities

                	
                   17

                
	
                  ARTICLE
                    THREE - REDEMPTION OF SECURITIES AND SINKING FUND
                    PROVISIONS

                	 
	 	
                  Section
                    3.01

                	 
	 	 	
                  Redemption
                    of Securities

                	
                   17

                
	 	
                  Section
                    3.02

                	 
	 	 	
                  Notice
                    of redemption

                	
                   17

                
	 	
                  Section
                    3.03

                	 
	 	 	
                  When
                    Securities called for redemption become due and payable

                	
                   18

                
	 	
                  Section
                    3.04

                	 
	 	 	
                  Sinking
                    Fund for Securities

                	
                   19

                
	 	
                  Section
                    3.05

                	 
	 	 	
                  Satisfaction
                    of Sinking Fund Payments with Securities

                	
                   19

                
	 	
                  Section
                    3.06

                	 
	 	 	
                  Redemption
                    of Securities for Sinking Fund

                	
                   19

                
	
                  ARTICLE
                    FOUR - PARTICULAR COVENANTS OF THE COMPANY

                	 
	 	
                  Section
                    4.01

                	 
	 	 	
                  Payment
                    of principal (and premium if any) and interest on
                    Securities

                	
                   20

                
	 	
                  Section
                    4.02

                	 
	 	 	
                  Maintenance
                    of office or agency for payment of Securities, designation of
                    office or
                    agency for payment, registration, transfer and exchange of
                    Securities

                	
                   20

                
	 	
                  Section
                    4.03

                	 
	 	 	
                  Duties
                    of paying agent

                	
                   20

                
	 	
                  Section
                    4.04

                	 
	 	 	
                  Appointment
                    to fill vacancy in office of Trustee

                	
                   21

                
	 	
                  Section
                    4.05

                	 
	 	 	
                  Restriction
                    on consolidation, merger or sale

                	
                   21

                
	
                  ARTICLE
                    FIVE - SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE
                    TRUSTEE

                	 
	 	
                  Section
                    5.01

                	 
	 	 	
                  Company
                    to furnish Trustee information as to names and addresses of office
                    of
                    Trustee Securityholders

                	
                   21

                
	 	
                  Section
                    5.02

                	 
	 	 	
                  Trustee
                    to preserve information as to names and addresses of Securityholders
                    received by it in capacity of paying agent.

                	
                   22

                
	 	
                  Section
                    5.03

                	 
	 	 	
                  Annual
                    and other reports to be filed by Company with Trustee

                	
                   23

                
	 	
                  Section
                    5.04

                	 
	 	 	
                  Trustee
                    to transmit annual report to Securityholders

                	
                   24

                
	
                  ARTICLE
                    SIX - REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF
                    DEFAULT

                	 
	 	
                  Section
                    6.01

                	 
	 	 	
                  Events
                    of default defined

                	
                   25

                
	 	
                  Section
                    6.02

                	 
	 	 	
                  Covenant
                    of Company to pay to Trustee whole amount due on Securities on
                    default in
                    payment of interest or principal (and premium, if any)

                	
                   27

                
	 	
                  Section
                    6.03

                	 
	 	 	
                  Application
                    of monies collected by Trustee

                	
                   28

                
	 	
                  Section
                    6.04

                	 
	 	 	
                  Limitation
                    on suits by holders of Securities

                	
                   29

                
	 	
                  Section
                    6.05

                	 
	 	 	
                  Remedies
                    Cumulative

                	
                   29

                
	 	
                  Section
                    6.06

                	 
	 	 	
                  Rights
                    of holders of majority in principal amount of Securities to direct
                    trustee
                    and to waive defaults

                	
                   30

                
	 	
                  Section
                    6.07

                	 
	 	 	
                  Trustees
                    to give notice of defaults known to it, but may withhold in certain
                    circumstances

                	
                   30

                
	 	
                  Section
                    6.08

                	 
	 	 	
                  Requirements
                    of an undertaking to pay costs in certain suits under Indenture
                    or against
                    Trustee

                	
                   31

                
	
                  ARTICLE
                    SEVEN - CONCERNING THE TRUSTEE

                	 
	 	
                  Section
                    7.01

                	 
	 	 	
                  Upon
                    Event of Default occurring and continuing, Trustee shall exercise
                    powers
                    vested in it, and use same degree of care and skill in their
                    exercise, as
                    prudent individual will use

                	
                   31

                
	 	
                  Section
                    7.02

                	 
	 	 	
                  Trustee
                    may rely on documents believed genuine and properly signed or
                    presented

                	
                   32

                
	 	
                  Section
                    7.03

                	 
	 	 	
                  Trustee
                    not liable for recitals in Indenture or in Securities

                	
                   34

                
	 	
                  Section
                    7.04

                	 
	 	 	
                  Trustee,
                    paying agent or Security Registrar may own Security

                	
                   34

                
	 	
                  Section
                    7.05

                	 
	 	 	
                  Monies
                    received by Trustee to be held in Trust without interest

                	
                   34

                
	 	
                  Section
                    7.06

                	 
	 	 	
                  Trustee
                    entitled to compensation, reimbursement and indemnity 

                	
                   34

                
	 	
                  Section
                    7.07

                	 
	 	 	
                  Right
                    of Trustee to rely on certificate of officers of Company where
                    no other
                    evidence specifically prescribed

                	
                   35

                
	 	
                  Section
                    7.08

                	 
	 	 	
                  Trustee
                    acquiring conflicting interest to eliminate conflict or
                    resign

                	
                   35

                
	 	
                  Section
                    7.09

                	 
	 	 	
                  Requirements
                    for eligibility of trustee

                	
                   35

                
	 	
                  Section
                    7.10

                	 
	 	 	
                  Resignation
                    of Trustee and appointment of successor

                	
                   35

                
	 	
                  Section
                    7.11

                	 
	 	 	
                  Acceptance
                    by successor Trustee

                	
                   37

                
	 	
                  Section
                    7.12

                	 
	 	 	
                  Successor
                    to Trustee by merger, consolidation of succession to
                    business

                	
                   38

                
	 	
                  Section
                    7.13

                	 
	 	 	
                  Limitations
                    on rights of Trustee as a creditor to obtain payment of certain
                    claims

                	
                   38

                
	
                  ARTICLE
                    EIGHT - CONCERNING THE SECURITYHOLDERS

                	 
	 	
                  Section
                    8.01

                	
                
	 	 	
                  Evidence
                    of action by Securityholders

                	
                   38

                
	 	
                  Section
                    8.02

                	 
	 	 	
                  Proof
                    of execution of instruments and of holding of Securities

                	
                   39

                
	 	
                  Section
                    8.03

                	 
	 	 	
                  Who
                    may be deemed owners of Securities

                	
                   39

                
	 	
                  Section
                    8.04

                	 
	 	 	
                  Securities
                    owned by Company or controlled or controlling companies disregarded
                    for
                    certain purposes

                	
                   39

                
	 	
                  Section
                    8.05

                	 
	 	 	
                  Instruments
                    executed by Securityholders bind future holders

                	
                   40

                
	
                  ARTICLE
                    NINE - SUPPLEMENTAL INDENTURES

                	 
	 	
                  Section
                    9.01

                	 
	 	 	
                  Purposes
                    for which supplemental indenture may be entered into without
                    consent of
                    Securityholders

                	
                   40

                
	 	
                  Section
                    9.02

                	 
	 	 	
                  Modification
                    of Indenture with consent of Securityholders

                	
                   42

                
	 	
                  Section
                    9.03

                	 
	 	 	
                  Effect
                    of supplemental indentures

                	
                   43

                
	 	
                  Section
                    9.04

                	 
	 	 	
                  Securities
                    may bear notation of changes by supplemental indentures

                	
                   44

                
	 	
                  Section
                    9.05

                	 
	 	 	
                  Opinion
                    of Counse

                	
                   44

                
	
                  ARTICLE
                    TEN - CONSOLIDATION, MERGER AND SALE

                	
                
	 	
                  Section
                    10.01

                	 
	 	 	
                  Consolidations
                    or mergers of Company and sales or conveyances of property of
                    Company
                    permitted

                	
                   44

                
	 	
                  Section
                    10.02

                	 
	 	 	
                  Rights
                    and duties of successor company

                	
                   44

                
	 	
                  Section
                    10.03

                	 
	 	 	
                  Opinion
                    of Counsel

                	
                   45

                
	
                  ARTICLE
                    ELEVEN - DEFEASANCE AND CONDITIONS TO DEFEASANCE; UNCLAIMED
                    MONIES

                	 
	 	
                  Section
                    11.01

                	 
	 	 	
                  Defeasance
                    and conditions to defeasance

                	
                   45

                
	 	
                  Section
                    11.02

                	 
	 	 	
                  Application
                    by Trustee of funds deposited for payment of Securities

                	
                   47

                
	 	
                  Section
                    11.03

                	 
	 	 	
                  Repayment
                    of monies held by paying agent

                	
                   47

                
	 	
                  Section
                    11.04

                	 
	 	 	
                  Repayment
                    of monies held by Trustee

                	
                   47

                
	 	
                  Section
                    11.05

                	 
	 	 	
                  Delivery
                    of Officer’s Certificate and Opinion of Counsel

                	
                   47

                
	
                  ARTICLE
                    TWELVE - IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND
                    DIRECTORS

                	 
	 	
                  Section
                    12.01

                	 
	 	 	
                  Incorporators,
                    Stockholders, officers and directors of Company exempt from individual
                    liability

                	
                   47

                
	
                  ARTICLE
                    THIRTEEN - MISCELLANEOUS PROVISIONS

                	 
	 	
                  Section
                    13.01

                	 
	 	 	
                  Successors
                    and assigns of Company bound by Indenture

                	
                   48

                
	 	
                  Section
                    13.02

                	 
	 	 	
                  Acts
                    of board, committee or officer of successor company valid

                	
                   48

                
	 	
                  Section
                    13.03

                	 
	 	 	
                  Surrender
                    of powers by Company

                	
                   48

                
	 	
                  Section
                    13.04

                	 
	 	 	
                  Required
                    notices or demands may by served by mail

                	
                   48

                
	 	
                  Section
                    13.05

                	 
	 	 	
                  Indenture
                    and Securities to be construed in accordance with laws of the
                    State of New
                    York

                	
                   48

                
	 	
                  Section
                    13.06

                	 
	 	 	
                  Officers’
                    Certificate and Opinion of Counsel to be furnished upon applications
                    or
                    demands by company

                	
                   49

                
	 	
                  Section
                    13.07

                	 
	 	 	
                  Payments
                    due on non-Business Days

                	
                   49

                
	 	
                  Section
                    13.08

                	 
	 	 	
                  Provisions
                    required by Trust Indenture Act of 1939 to control

                	
                   49

                
	 	
                  Section
                    13.09

                	 
	 	 	
                  Indenture
                    may be executed in counterparts

                	
                   49

                
	 	
                  Section
                    13.10

                	 
	 	 	
                  Separability
                    of Indenture

                	
                   49

                
	 	
                  Section
                    13.11

                	 
	 	 	
                  Assignment
                    by Company to subsidiary

                	
                   50

                
	 	
                  Section
                    13.12

                	 
	 	 	
                  Headings

                	
                   50

                
	 	
                  Section
                    13.13

                	 
	 	 	
                  Securities
                    in Foreign Currencies

                	 
	
                  ACCEPTANCE
                    OF TRUST BY TRUSTEE

                	
                   51

                
	
                  TESTIMONIUM

                	
                   51

                
	
                  SIGNATURES
                    AND SEALS

                	
                   51

                
	
                  ACKNOWLEDGEMENTS

                	
                   52

                

        

      

    

    

    THIS
      INDENTURE, dated as of the       
      day of February,
      2003, between COLUMBUS SOUTHERN POWER COMPANY, a corporation duly organized
      and
      existing under the laws of the State of Ohio (hereinafter sometimes referred
      to
      as the “Company”), and BANK ONE, N. A., a national banking association organized
      under the laws of the United States, as trustee (hereinafter sometimes referred
      to as the “Trustee”):

     

    WHEREAS,
      for its lawful corporate purposes, the Company has duly authorized the execution
      and delivery of this Indenture to provide for the issuance of unsecured
      promissory notes or other evidences of indebtedness (hereinafter referred to
      as
      the “Securities”), in an unlimited aggregate principal amount to be issued from
      time to time in one or more series as in this Indenture provided, as registered
      Securities without coupons, to be authenticated by the certificate of the
      Trustee, and which will rank pari passu with all other unsecured and
      unsubordinated debt of the Company;

     

    WHEREAS,
      to provide the terms and conditions upon which the Securities are to be
      authenticated, issued and delivered, the Company has duly authorized the
      execution of this Indenture;

     

    WHEREAS,
      the Securities and the certificate of authentication to be borne by the
      Securities (the “Certificate of Authentication”) are to be substantially in such
      forms as may be approved by a Company Order (as defined below), or set forth
      in
      this Indenture or in any indenture supplemental to this Indenture;

     

    AND
      WHEREAS, all acts and things necessary to make the Securities issued pursuant
      hereto, when executed by the Company and authenticated and delivered by the
      Trustee as in this Indenture provided, the valid, binding and legal obligations
      of the Company, and to constitute these presents a valid indenture and agreement
      according to its terms, have been done and performed or will be done and
      performed prior to the issuance of such Securities, and the execution of this
      Indenture has been and the issuance hereunder of the Securities has been or
      will
      be prior to issuance in all respects duly authorized, and the Company, in the
      exercise of the legal right and power in it vested, executes this Indenture
      and
      proposes to make, execute, issue and deliver the Securities;

     

    NOW,
      THEREFORE, THIS INDENTURE WITNESSETH:

     

    That
      in
      order to declare the terms and conditions upon which the Securities are and
      are
      to be authenticated, issued and delivered, and in consideration of the premises,
      of the purchase and acceptance of the Securities by the holders thereof and
      of
      the sum of one dollar ($1.00) to it duly paid by the Trustee at the execution
      of
      these presents, the receipt whereof is hereby acknowledged, the Company
      covenants and agrees with the Trustee, for the equal and proportionate benefit
      (subject to the provisions of this Indenture) of the respective holders from
      time to time of the Securities, without any discrimination, preference or
      priority of any one Security over any other by reason of priority in the time
      of
      issue, sale or negotiation thereof, or otherwise, except as provided herein,
      as
      follows:

     

        
      ARTICLE ONE  

    DEFINITIONS

     

    SECTION
      1.01.    The
      terms
      defined in this Section (except as in this Indenture otherwise expressly
      provided or unless the context otherwise requires) for all purposes of this
      Indenture, any Company Order, any Board Resolution, and any indenture
      supplemental hereto shall have the respective meanings specified in this
      Section. All other terms used in this Indenture which are defined in the Trust
      Indenture Act of 1939, as amended, or which are by reference in such Act defined
      in the Securities Act of 1933, as amended (except as herein otherwise expressly
      provided or unless the context otherwise requires), shall have the meanings
      assigned to such terms in said Trust Indenture Act and in said Securities Act
      as
      in force at the date of the execution of this instrument.

     

    Affiliate:

     

    The
      term
“Affiliate” of the Company shall mean any company at least a majority of whose
      outstanding voting stock shall at the time be owned by the Company, or by one
      or
      more direct or indirect subsidiaries of or by the Company and one or more direct
      or indirect subsidiaries of the Company. For the purposes only of this
      definition of the term “Affiliate”, the term “voting stock”, as applied to the
      stock of any company, shall mean stock of any class or classes having ordinary
      voting power for the election of a majority of the directors of such company,
      other than stock having such power only by reason of the occurrence of a
      contingency.

     

    Authenticating
      Agent:

     

    The
      term
“Authenticating Agent” shall mean an authenticating agent with respect to all or
      any of the series of Securities, as the case may be, appointed with respect
      to
      all or any series of the Securities, as the case may be, by the Trustee pursuant
      to Section 2.10.

     

    Authorized
      Officer:

     

    The
      term
“Authorized Officer” shall mean the Chairman of the Board, the President, any
      Vice President, the Treasurer, any Assistant Treasurer or any other officer
      or
      agent of the Company duly authorized by the Board of Directors to act in respect
      of matters relating to this Indenture.

     

    Board
      of
      Directors or Board:

     

    The
      term
“Board of Directors” or “Board” shall mean the Board of Directors of the
      Company, or any duly authorized committee of such Board.

     

    Board
      Resolution:

     

    The
      term
“Board Resolution” shall mean a copy of a resolution certified by the Secretary
      or an Assistant Secretary of the Company to have been duly adopted by the Board
      of Directors and to be in full force and effect on the date of such
      certification.

     

    Business
      Day:

     

    The
      term
“Business Day”, with respect to any Security, shall mean any day that (a) in the
      Place of Payment (or in any of the Places of Payment, if more than one) in
      which
      amounts are payable as specified in the form of such Security and (b) in the
      city in which the Trustee administers its corporate trust business, is not
      a day
      on which banking institutions are authorized or required by law or regulation
      to
      close.

     

    Certificate:

     

    The
      term
“Certificate” shall mean a certificate signed by an Authorized Officer. The
      Certificate need not comply with the provisions of Section 13.06.

     

    Commission:

     

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

     

    Company:

     

    The
      term
“Company” shall mean Columbus Southern Power Company, a corporation duly
      organized and existing under the laws of Ohio, and, subject to the provisions
      of
      Article Ten, shall also include its successors and assigns.

     

    Company
      Order:

     

    The
      term
“Company Order” shall mean a written order signed in the name of the Company by
      an Authorized Officer and the Secretary or an Assistant Secretary of the
      Company, pursuant to a Board Resolution establishing a series of
      Securities.

     

    Corporate
      Trust Office:

     

    The
      term
“Corporate Trust Office” shall mean the office of the Trustee at which at any
      particular time its corporate trust business shall be principally administered,
      which office at the date of the execution of this Indenture is located at
                                                                .

     

    Default:

     

    The
      term
“Default” shall mean any event, act or condition which with notice or lapse of
      time, or both, would constitute an Event of Default.

     

    Depository:

     

    The
      term
“Depository” shall mean, with respect to Securities of any series, for which the
      Company shall determine that such Securities will be issued as a Global
      Security, The Depository Trust Company, New York, New York, another clearing
      agency, or any successor registered as a clearing agency under the Exchange
      Act
      or other applicable statute or regulation, which, in each case, shall be
      designated by the Company pursuant to either Section 2.01 or 2.11.

     

    Discount
      Security:

     

    The
      term
“Discount Security” means any Security which provides for an amount less than
      the principal amount thereof to be due and payable upon a declaration of
      acceleration of the maturity thereof pursuant to Section 6.01(b).

     

    Dollar:

     

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

     

    Eligible
      Obligations:

     

    The
      term
“Eligible Obligations” means (a) with respect to Securities denominated in
      Dollars, Governmental Obligations; or (b) with respect to Securities denominated
      in a currency other than Dollars or in a composite currency, such other
      obligations or instruments as shall be specified with respect to such
      Securities, as contemplated by Section 2.01.

     

    Event
      of
      Default:

     

    The
      term
“Event of Default” with respect to Securities of a particular series shall mean
      any event specified in Section 6.01, continued for the period of time, if any,
      therein designated.

     

    Global
      Security:

     

    The
      term
“Global Security” shall mean, with respect to any series of Securities, a
      Security executed by the Company and authenticated and delivered by the Trustee
      to the Depository or pursuant to the Depository’s instruction, all in accordance
      with the Indenture, which shall be registered in the name of the Depository
      or
      its nominee.

     

    Governmental
      Authority:

     

    The
      term
“Governmental Authority” means the government of the United States or of any
      State or Territory thereof or of the District of Columbia or of any county,
      municipality or other political subdivision of any of the foregoing, or any
      department, agency, authority or other instrumentality of any of the
      foregoing.

     

    Governmental
      Obligations:

     

    The
      term
“Governmental Obligations” shall mean securities that are (i) direct obligations
      of the United States of America for the payment of which its full faith and
      credit is pledged or (ii) obligations of a person controlled or supervised
      by
      and acting as an agency or instrumentality of the United States, the payment
      of
      which is unconditionally guaranteed as a full faith and credit obligation by
      the
      United States, which, in either case, are not callable or redeemable at the
      option of the issuer thereof, and shall also include a depository receipt issued
      by a bank (as defined in Section 3(a)(2) of the Securities Act of 1933, as
      amended) as custodian with respect to any such Governmental Obligation or a
      specific payment of principal of or interest on any such Governmental Obligation
      held by such custodian for the account of the holder of such depository receipt;
      provided that (except as required by law) such custodian is not authorized
      to
      make any deduction from the amount payable to the holder of such depository
      receipt from any amount received by such custodian in respect of the
      Governmental Obligation or the specific payment of principal of or interest
      on
      the Governmental Obligation evidenced by such depository receipt.

     

    Indenture:

     

    The
      term
“Indenture” shall mean this instrument as originally executed, or, if amended or
      supplemented as herein provided, as so amended or supplemented, and shall
      include the terms of a particular series of Securities established as
      contemplated by Section 2.01.

     

    Instructions:

     

    The
      term
“Instructions” shall mean instructions acceptable to the Trustee issued pursuant
      to a Company Order in connection with a Periodic Offering and signed by an
      Authorized Officer. Instructions need not comply with the provisions of Section
      13.06.

     

    Interest:

     

    The
      term
“interest” when used with respect to non-interest bearing Securities shall mean
      interest payable after maturity (whether at stated maturity, upon acceleration
      or redemption or otherwise) or after the date, if any, on which the Company
      becomes obligated to acquire a Security, whether by purchase or
      otherwise.

     

    Interest
      Payment Date:

     

    The
      term
“Interest Payment Date” when used with respect to any installment of interest on
      a Security of a particular series shall mean the date specified in such Security
      or in a Board Resolution, Company Order or an indenture supplemental hereto
      with
      respect to such series as the fixed date on which an installment of interest
      with respect to Securities of that series is due and payable.

     

    Officers’
      Certificate:

     

    The
      term
“Officers’ Certificate” shall mean a certificate signed by an Authorized Officer
      and by the Secretary or Assistant Secretary of the Company. Each such
      certificate shall include the statements provided for in Section 13.06, if
      and
      to the extent required by the provisions thereof.

     

    Opinion
      of Counsel:

     

    The
      term
“Opinion of Counsel” shall mean an opinion in writing signed by legal counsel,
      who may be an employee of or counsel for the Company. Each such opinion shall
      include the statements provided for in Section 13.06, if and to the extent
      required by the provisions thereof.

     

    Outstanding:

     

    The
      term
“outstanding”, when used with reference to Securities of any series, shall,
      subject to the provisions of Section 8.04, mean, as of any particular time,
      all
      Securities of that series theretofore authenticated and delivered by the Trustee
      under this Indenture, except (a) Securities theretofore canceled by the Trustee
      or any paying agent, or delivered to the Trustee or any paying agent for
      cancellation or which have previously been canceled; (b) Securities or portions
      thereof for the payment or redemption of which monies or Eligible Obligations
      in
      the necessary amount shall have been deposited in trust with the Trustee or
      with
      any paying agent (other than the Company) or shall have been set aside and
      segregated in trust by the Company (if the Company shall act as its own paying
      agent); provided, however, that if such Securities or portions of such
      Securities are to be redeemed prior to the maturity thereof, notice of such
      redemption shall have been given as in Article Three provided, or provision
      satisfactory to the Trustee shall have been made for giving such notice; and
      (c)
      Securities in lieu of or in substitution for which other Securities shall have
      been authenticated and delivered pursuant to the terms of Section 2.07. The
      principal amount of a Discount Security that shall be deemed to be Outstanding
      for purposes of this Indenture shall be the amount of the principal thereof
      that
      would be due and payable as of the date of such determination upon a declaration
      of acceleration of the maturity thereof.

     

    Periodic
      Offering:

     

    The
      term
“Periodic Offering” means an offering of Securities of a series from time to
      time, during which any or all of the specific terms of the Securities, including
      without limitation the rate or rates of interest, if any, thereon, the maturity
      or maturities thereof and the redemption provisions, if any, with respect
      thereto, are to be determined by the Company or its agents upon the issuance
      of
      such Securities.

     

    Person:

     

    The
      term
“person” means any individual, corporation, partnership, limited liability
      company, joint venture, trust or unincorporated organization or any Governmental
      Authority. 

     

    Place
      of
      Payment:

     

    The
      term
“Place of Payment” shall mean the place or places where the principal of and
      interest, if any, on the Securities of any series are payable as specified
      in
      accordance with Section 2.01.

     

    Predecessor
      Security:

     

    The
      term
“Predecessor Security” of any particular Security shall mean every previous
      Security evidencing all or a portion of the same debt as that evidenced by
      such
      particular Security; and, for the purposes of this definition, any Security
      authenticated and delivered under Section 2.07 in lieu of a lost, destroyed
      or
      stolen Security shall be deemed to evidence the same debt as the lost, destroyed
      or stolen Security.

     

    Responsible
      Officer:

     

    The
      term
“Responsible Officer” when used with respect to the Trustee shall mean the
      chairman of the board of directors, the president, any vice president, the
      secretary, the treasurer, any trust officer, any corporate trust officer or
      any
      other officer or assistant officer of the Trustee customarily performing
      functions similar to those performed by the persons who at the time shall be
      such officers, respectively, or to whom any corporate trust matter is referred
      because of his or her knowledge of and familiarity with the particular
      subject.

     

    Security
      or Securities:

     

    The
      term
“Security” or “Securities” shall mean any Security or Securities, as the case
      may be, authenticated and delivered under this Indenture.

     

    Securityholder:

     

    The
      term
“Securityholder”, “holder of Securities” or “registered holder” shall mean the
      person or persons in whose name or names a particular Security shall be
      registered on the books of the Company kept for that purpose in accordance
      with
      the terms of this Indenture.

     

    Series:

     

    The
      term
“series” means a series of Securities established pursuant to this Indenture and
      includes, if the context so requires, each Tranche thereof.

     

    Tranche:

     

    The
      term
“Tranche” means Securities which (a) are of the same series and (b) have
      identical terms except as to principal amount and/or date of
      issuance.

     

    Trustee:

     

    The
      term
“Trustee” shall mean Bank One, N. A., and, subject to the provisions of Article
      Seven, shall also include its successors and assigns, and, if at any time there
      is more than one person acting in such capacity hereunder, “Trustee” shall mean
      each such person. The term “Trustee” as used with respect to a particular series
      of the Securities shall mean the trustee with respect to that
      series.

     

    Trust
      Indenture Act:

     

    The
      term
“Trust Indenture Act”, subject to the provisions of Sections 9.01, 9.02, and
      10.01, shall mean the Trust Indenture Act of 1939, as amended and in effect
      at
      the date of execution of this Indenture.

     

    United
      States:

     

    The
      term
“United States” means the United States of America, its Territories, its
      possessions and other areas subject to its political jurisdiction.

     

     

    ARTICLE
      TWO  

     

    ISSUE,
      DESCRIPTION, TERMS, EXECUTION,

                                                                                                
      REGISTRATION AND EXCHANGE OF SECURITIES

     

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

     

    The
      Securities may be issued from time to time in one or more series and in one
      or
      more Tranches thereof. Each series shall be authorized by a Company Order or
      Orders or one or more indentures supplemental hereto, which shall specify
      whether the Securities of such series shall be subject to a Periodic Offering.
      The Company Order or Orders or supplemental indenture and, in the case of a
      Periodic Offering, Instructions or other procedures acceptable to the Trustee
      specified in such Company Order or Orders, shall establish the terms of the
      series, which may include the following: (i) any limitations on the aggregate
      principal amount of the Securities to be authenticated and delivered under
      this
      Indenture as part of such series (except for Securities authenticated and
      delivered upon registration of transfer of, in exchange for or in lieu of other
      Securities of that series); (ii) the stated maturity or maturities of such
      series; (iii) the date or dates from which interest shall accrue, the Interest
      Payment Dates on which such interest will be payable or the manner of
      determination of such Interest Payment Dates and the record date for the
      determination of holders to whom interest is payable on any such Interest
      Payment Date; (iv) the interest rate or rates (which may be fixed or variable),
      or method of calculation of such rate or rates, for such series; (v) the terms,
      if any, regarding the redemption, purchase or repayment of such series (whether
      at the option of the Company or a holder of the Securities of such series and
      whether pursuant to a sinking fund or analogous provisions, including payments
      made in cash in anticipation of future sinking fund obligations), including
      redemption, purchase or repayment date or dates of such series, if any, and
      the
      price or prices and other terms and conditions applicable to such redemption,
      purchase or repayment (including any premium); (vi) whether or not the
      Securities of such series shall be issued in whole or in part in the form of
      a
      Global Security and, if so, the Depositary for such Global Security and the
      related procedures with respect to transfer and exchange of such Global
      Security; (vii) the designation of such series; (viii) the form of the
      Securities of such series; (ix) the maximum annual interest rate, if any, of
      the
      Securities permitted for such series; (x) whether the Securities of such series
      shall be subject to Periodic Offering; (xi) the currency or currencies,
      including composite currencies, in which payment of the principal of (and
      premium, if any) and interest on the Securities of such series shall be payable,
      if other than Dollars; (xii) any other information necessary to complete the
      Securities of such series; (xiii) the establishment of any office or agency
      pursuant to Section 4.02 hereof and any other place or places which the
      principal of and interest, if any, on Securities of that series shall be
      payable; (xiv) if other than denominations of $1,000 or any integral multiple
      thereof, the denominations in which the Securities of the series shall be
      issuable; (xv) the obligations or instruments, if any, which shall be considered
      to be Eligible Obligations in respect of the Securities of such series
      denominated in a currency other than Dollars or in a composite currency; (xvi)
      whether or not the Securities of such series shall be issued as Discount
      Securities and the terms thereof, including the portion of the principal amount
      thereof which shall be payable upon declaration of acceleration of the maturity
      thereof pursuant to Section 6.01(b); (xvii) if the principal of and premium,
      if
      any, or interest, if any, on such Securities are to be payable, at the election
      of the Company or the holder thereof, in coin or currency, including composite
      currencies, other than that in which the Securities are stated to be payable,
      the period or periods within which, and the terms and conditions upon which,
      such election shall be made; (xviii) if the amount of payment of principal
      of
      and premium, if any, or interest, if any, on such Securities may be determined
      with reference to an index, formula or other method, or based on a coin or
      currency other than that in which the Securities are stated to be payable,
      the
      manner in which such amount shall be determined; (xix) whether the provisions
      of
      Section 4.05 and Article Ten (or portions thereof) shall apply to the Securities
      of a series; and (xx)any other terms of such series not inconsistent with this
      Indenture.

     

    All
      Securities of any one series shall be substantially identical except as to
      denomination and except as may otherwise be provided in or pursuant to any
      such
      Company Order or in any indentures supplemental hereto.

     

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

     

    SECTION
      2.02.    The
      Securities of any series shall be substantially of the tenor and purport (i)
      as
      set forth in one or more indentures supplemental hereto or as provided in a
      Company Order, or (ii) with respect to any Tranche of Securities of a series
      subject to Periodic Offering, to the extent permitted by any of the documents
      referred to in clause (i) above, in Instructions, or by other procedures
      acceptable to the Trustee specified in such Company Order or Orders, in each
      case with such appropriate insertions, omissions, substitutions and other
      variations as are required or permitted by this Indenture, and may have such
      letters, numbers or other marks of identification or designation and such
      legends or endorsements printed, lithographed or engraved thereon as the Company
      may deem appropriate and as are not inconsistent with the provisions of this
      Indenture, or as may be required to comply with any law or with any rule or
      regulation made pursuant thereto or with any rule or regulation of any stock
      exchange on which Securities of that series may be listed or of the Depository,
      or to conform to usage.

     

    The
      Trustee’s Certificate of Authentication shall be in substantially the following
      form:

     

    “This
      is
      one of the Securities of the series designated in accordance with, and referred
      to in, the within-mentioned Indenture.

     

    Dated:

     

    BANK
      ONE,
      N. A.

     

    By:___________________________

                    
      Authorized Signatory”

     

    SECTION
      2.03.    The
      Securities shall be issuable as registered Securities and in the denominations
      of $1,000 or any integral multiple thereof, subject to Sections 2.01(xi) and
      (xiv). The Securities of a particular series shall bear interest payable on
      the
      dates and at the rate or rates specified with respect to that series. Except
      as
      otherwise specified as contemplated by Section 2.01, the principal of and the
      interest on the Securities of any series, as well as any premium thereon in
      case
      of redemption thereof prior to maturity, shall be payable in Dollars at the
      office or agency of the Company maintained for that purpose. Each Security
      shall
      be dated the date of its authentication.

     

    The
      interest installment on any Security which is payable, and is punctually paid
      or
      duly provided for, on any Interest Payment Date for Securities of that series
      shall be paid to the person in whose name said Security (or one or more
      Predecessor Securities) is registered at the close of business on the regular
      record date for such interest installment, except that interest payable on
      redemption or maturity shall be payable as set forth in the Company Order or
      indenture supplemental hereto establishing the terms of such series of
      Securities. Except as otherwise specified as contemplated by Section 2.01,
      interest on Securities will be computed on the basis of a 360-day year of twelve
      30-day months.

     

    Any
      interest on any Security which is payable, but is not punctually paid or duly
      provided for, on any Interest Payment Date for Securities of the same series
      (herein called “Defaulted Interest”) shall forthwith cease to be payable to the
      registered holder on the relevant regular record date by virtue of having been
      such holder; and such Defaulted Interest shall be paid by the Company, at its
      election, as provided in clause (1) or clause (2) below:

     

    (1)  The
      Company may make payment of any Defaulted Interest on Securities to the persons
      in whose names such Securities (or their respective Predecessor Securities)
      are
      registered at the close of business on a special record date for the payment
      of
      such Defaulted Interest, which shall be fixed in the following manner: the
      Company shall notify the Trustee in writing of the amount of Defaulted Interest
      proposed to be paid on each such Security and the date of the proposed payment,
      and at the same time the Company shall deposit with the Trustee an amount of
      money equal to the aggregate amount proposed to be paid in respect of such
      Defaulted Interest or shall make arrangements satisfactory to the Trustee for
      such deposit prior to the date of the proposed payment, such money when
      deposited to be held in trust for the benefit of the persons entitled to such
      Defaulted Interest as in this clause provided. Thereupon the Trustee shall
      fix a
      special record date for the payment of such Defaulted Interest which shall
      not
      be more than 15 nor less than 10 days prior to the date of the proposed payment
      and not less than 10 days after the receipt by the Trustee of the notice of
      the
      proposed payment. The Trustee shall promptly notify the Company of such special
      record date and, in the name and at the expense of the Company, shall cause
      notice of the proposed payment of such Defaulted Interest and the special record
      date therefor to be mailed, first class postage prepaid, to each Securityholder
      at his or her address as it appears in the Security Register (as hereinafter
      defined), not less than 10 days prior to such special record date. Notice of
      the
      proposed payment of such Defaulted Interest and the special record date therefor
      having been mailed as aforesaid, such Defaulted Interest shall be paid to the
      persons in whose names such Securities (or their respective Predecessor
      Securities) are registered on such special record date and shall be no longer
      payable pursuant to the following clause (2).

     

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

     

    Unless
      otherwise set forth in a Company Order or one or more indentures supplemental
      hereto establishing the terms of any series of Securities pursuant to Section
      2.01 hereof, the term “regular record date” as used in this Section with respect
      to a series of Securities with respect to any Interest Payment Date for such
      series shall mean either the fifteenth day of the month immediately preceding
      the month in which an Interest Payment Date established for such series pursuant
      to Section 2.01 hereof shall occur, if such Interest Payment Date is the first
      day of a month, or the last day of the month immediately preceding the month
      in
      which an Interest Payment Date established for such series pursuant to Section
      2.01 hereof shall occur, if such Interest Payment Date is the fifteenth day
      of a
      month, whether or not such date is a Business Day.

     

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

     

    SECTION
      2.04.    The
      Securities shall, subject to the provisions of Section 2.06, be printed on
      steel
      engraved borders or fully or partially engraved, or legibly typed, as the proper
      officer of the Company may determine, and shall be signed on behalf of the
      Company by an Authorized Officer. The signature of such Authorized Officer
      upon
      the Securities may be in the form of a facsimile signature of a present or
      any
      future Authorized Officer and may be imprinted or otherwise reproduced on the
      Securities and for that purpose the Company may use the facsimile signature
      of
      any person who shall have been an Authorized Officer, notwithstanding the fact
      that at the time the Securities shall be authenticated and delivered or disposed
      of such person shall have ceased to be an Authorized Officer.

     

    Only
      such
      Securities as shall bear thereon a Certificate of Authentication substantially
      in the form established for such Securities, executed manually by an authorized
      signatory of the Trustee, or by any Authenticating Agent with respect to such
      Securities, shall be entitled to the benefits of this Indenture or be valid
      or
      obligatory for any purpose. Such certificate executed by the Trustee, or by
      any
      Authenticating Agent appointed by the Trustee with respect to such Securities,
      upon any Security executed by the Company shall be conclusive evidence that
      the
      Security so authenticated has been duly authenticated and delivered hereunder
      and that the registered holder thereof is entitled to the benefits of this
      Indenture.

     

    At
      any
      time and from time to time after the execution and delivery of this Indenture,
      the Company may deliver Securities of any series executed by the Company to
      the
      Trustee for authentication, together with an indenture supplemental hereto
      or a
      Company Order for the authentication and delivery of such Securities and the
      Trustee, in accordance with such supplemental indenture or Company Order, shall
      authenticate and deliver such Securities; provided, however, that in the case
      of
      Securities offered in a Periodic Offering, the Trustee shall authenticate and
      deliver such Securities from time to time in accordance with Instructions or
      such other procedures acceptable to the Trustee as may be specified by or
      pursuant to such supplemental indenture or Company Order delivered to the
      Trustee prior to the time of the first authentication of Securities of such
      series.

     

    In
      authenticating such Securities and accepting the additional responsibilities
      under this Indenture in relation to such Securities, the Trustee shall receive
      and (subject to Section 7.01) shall be fully protected in relying upon, (i)
      an
      Opinion of Counsel and (ii) and Officers’ Certificate, each stating that the
      form and terms thereof have been established in conformity with the provisions
      of this Indenture; provided, however, that, with respect to Securities of a
      series subject to a Periodic Offering, the Trustee shall be entitled to receive
      such Opinion of Counsel and Officers’ Certificate only once at or prior to the
      time of the first authentication of Securities of such series and that, in
      such
      opinion or certificate, the opinion or certificate described above may state
      that when the terms of such Securities, or each Tranche thereof, shall have
      been
      established pursuant to a Company Order or Orders or pursuant to such procedures
      acceptable to the Trustee, as may be specified by a Company Order, such terms
      will have been established in conformity with the provisions of this Indenture.
      Each Opinion of Counsel and Officers’ Certificate delivered pursuant to this
      Section 2.04 shall include all statements prescribed in Section 13.06(b). Such
      Opinion of Counsel shall also be to the effect that when such Securities have
      been executed by the Company and authenticated by the Trustee in accordance
      with
      the provisions of this Indenture and delivered to and duly paid for by the
      purchasers thereof, they will be valid and legally binding obligations of the
      Company, enforceable in accordance with their terms (subject to customary
      exceptions) and will be entitled to the benefits of this Indenture.

     

    With
      respect to Securities of a series subject to a Periodic Offering, the Trustee
      may conclusively rely, as to the authorization by the Company of any of such
      Securities, the forms and terms thereof and the legality, validity, binding
      effect and enforceability thereof, upon the Company Order, Opinion of Counsel,
      Officers’ Certificate and other documents delivered pursuant to Sections 2.01
      and this Section, as applicable, at or prior to the time of the first
      authentication of Securities of such series unless and until such Company Order,
      Opinion of Counsel, Officers’ Certificate or other documents have been
      superseded or revoked or expire by their terms.

     

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

     

    SECTION
      2.05.    (a)  Securities
      of any series may be exchanged upon presentation thereof at the office or agency
      of the Company designated for such purpose, for other Securities of such series
      of authorized denominations, and for a like aggregate principal amount, upon
      payment of a sum sufficient to cover any tax or other governmental charge in
      relation thereto, all as provided in this Section. In respect of any Securities
      so surrendered for exchange, the Company shall execute, the Trustee shall
      authenticate and such office or agency shall deliver in exchange therefor the
      Security or Securities of the same series which the Securityholder making the
      exchange shall be entitled to receive, bearing numbers not contemporaneously
      outstanding.

     

    (b)  The
      Company shall keep, or cause to be kept, at its office or agency designated
      for
      such purpose in the Borough of Manhattan, the City and State of New York, or
      such other location designated by the Company a register or registers (herein
      referred to as the “Security Register”) in which, subject to such reasonable
      regulations as it may prescribe, the Company shall register the Securities
      and
      the transfers of Securities as in this Article provided and which at all
      reasonable times shall be open for inspection by the Trustee. The registrar
      for
      the purpose of registering Securities and transfer of Securities as herein
      provided shall be appointed as authorized by Board Resolution or Company Order
      (the “Security Registrar”).

     

    Upon
      surrender for transfer of any Security at the office or agency of the Company
      designated for such purpose in the Borough of Manhattan, the City and State
      of
      New York, or other location as aforesaid, the Company shall execute, the Trustee
      shall authenticate and such office or agency shall deliver in the name of the
      transferee or transferees a new Security or Securities of the same series as
      the
      Security presented for a like aggregate principal amount.

     

    All
      Securities presented or surrendered for exchange or registration of transfer,
      as
      provided in this Section, shall be accompanied (if so required by the Company
      or
      the Security Registrar) by a written instrument or instruments of transfer,
      in
      form satisfactory to the Company or the Security Registrar, duly executed by
      the
      registered holder or by his duly authorized attorney in writing.

     

    (c)  Except
      as
      provided in the first paragraph of Section 2.07, no service charge shall be
      made
      for any exchange or registration of transfer of Securities, or issue of new
      Securities in case of partial redemption of any series, but the Company may
      require payment of a sum sufficient to cover any tax or other governmental
      charge in relation thereto, other than exchanges pursuant to Section 2.06,
      Section 3.03(b) and Section 9.04 not involving any transfer.

     

    (d)    
      The
      Company shall neither be required (i) to issue, exchange or register the
      transfer of any Securities during a period beginning at the opening of business
      15 days before the day of the mailing of a notice of redemption of less than
      all
      the outstanding Securities of the same series and ending at the close of
      business on the day of such mailing, nor (ii) to register the transfer of or
      exchange of any Securities of any series or portions thereof called for
      redemption or as to which the holder thereof has exercised its right, if any,
      to
      require the Company to repurchase such Security in whole or in part, except
      that
      portion of such Security not required to be repurchased. The provisions of
      this
      Section 2.05 are, with respect to any Global Security, subject to Section 2.11
      hereof.

     

    SECTION
      2.06.    Pending
      the preparation of definitive Securities of any series, the Company may execute,
      and the Trustee shall authenticate and deliver, temporary Securities (printed,
      lithographed or typewritten) of any authorized denomination, and substantially
      in the form of the definitive Securities in lieu of which they are issued,
      but
      with such omissions, insertions and variations as may be appropriate for
      temporary Securities, all as may be determined by the Company. Every temporary
      Security of any series shall be executed by the Company and be authenticated
      by
      the Trustee upon the same conditions and in substantially the same manner,
      and
      with like effect, as the definitive Securities of such series in accordance
      with
      Section 2.04. Without unnecessary delay the Company will execute and will
      furnish definitive Securities of such series and thereupon any or all temporary
      Securities of such series may be surrendered in exchange therefor (without
      charge to the holders thereof), at the office or agency of the Company
      designated for the purpose, and the Trustee shall authenticate and such office
      or agency shall deliver in exchange for such temporary Securities an equal
      aggregate principal amount of definitive Securities of such series, unless
      the
      Company advises the Trustee to the effect that definitive Securities need not
      be
      executed and furnished until further notice from the Company. Until so
      exchanged, the temporary Securities of such series shall be entitled to the
      same
      benefits under this Indenture as definitive Securities of such series
      authenticated and delivered hereunder.

     

    SECTION
      2.07.    In
      case
      any temporary or definitive Security shall become mutilated or be destroyed,
      lost or stolen, the Company (subject to the next succeeding sentence) shall
      execute, and upon its request the Trustee (subject as aforesaid) shall
      authenticate and deliver, a new Security of the same series bearing a number
      not
      contemporaneously outstanding, in exchange and substitution for the mutilated
      Security, or in lieu of and in substitution for the Security so destroyed,
      lost
      or stolen. In every case the applicant for a substituted Security shall furnish
      to the Company and to the Trustee such security or indemnity as may be required
      by them to save each of them harmless, and, in every case of destruction, loss
      or theft, the applicant shall also furnish to the Company and to the Trustee
      evidence to their satisfaction of the destruction, loss or theft of the
      applicant’s Security and of the ownership thereof. The Trustee may authenticate
      any such substituted Security and deliver the same upon the written request
      or
      authorization of any officer of the Company. Upon the issuance of any
      substituted Security, the Company may require the payment of a sum sufficient
      to
      cover any tax or other governmental charge that may be imposed in relation
      thereto and any other expenses (including the fees and expenses of the Trustee)
      connected therewith. In case any Security which has matured or is about to
      mature shall become mutilated or be destroyed, lost or stolen, the Company
      may,
      instead of issuing a substitute Security, pay or authorize the payment of the
      same (without surrender thereof except in the case of a mutilated Security)
      if
      the applicant for such payment shall furnish to the Company and to the Trustee
      such security or indemnity as they may require to save them harmless, and,
      in
      case of destruction, loss or theft, evidence to the satisfaction of the Company
      and the Trustee of the destruction, loss or theft of such Security and of the
      ownership thereof.

     

    Every
      Security issued pursuant to the provisions of this Section in substitution
      for
      any Security which is mutilated, destroyed, lost or stolen shall constitute
      an
      additional contractual obligation of the Company, whether or not the mutilated,
      destroyed, lost or stolen Security shall be found at any time, or be enforceable
      by anyone, and shall be entitled to all the benefits of this Indenture equally
      and proportionately with any and all other Securities of the same series duly
      issued hereunder. All Securities shall be held and owned upon the express
      condition that the foregoing provisions are exclusive with respect to the
      replacement or payment of mutilated, destroyed, lost or stolen Securities,
      and
      shall preclude (to the extent lawful) 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 of negotiable instruments or other
      securities without their surrender.

     

    SECTION
      2.08.    All
      Securities surrendered for the purpose of payment, redemption, exchange or
      registration of transfer, or for credit against a sinking fund, shall, if
      surrendered to the Company or any paying agent, be delivered to the Trustee
      for
      cancellation, or, if surrendered to the Trustee, shall be canceled by it, and
      no
      Securities shall be issued in lieu thereof except as expressly required or
      permitted by any of the provisions of this Indenture. On request of the Company,
      the Trustee shall deliver to the Company canceled Securities held by the
      Trustee. In the absence of such request the Trustee may dispose of canceled
      Securities in accordance with its standard procedures. If the Company shall
      otherwise acquire any of the Securities, however, such acquisition shall not
      operate as a redemption or satisfaction of the indebtedness represented by
      such
      Securities unless and until the same are delivered to the Trustee for
      cancellation.

     

    SECTION
      2.09.    Nothing
      in this Indenture or in the Securities, express or implied, shall give or be
      construed to give to any person, firm or corporation, other than the parties
      hereto and the holders of the Securities, any legal or equitable right, remedy
      or claim under or in respect of this Indenture, or under any covenant, condition
      or provision herein contained; all such covenants, conditions and provisions
      being for the sole benefit of the parties hereto and of the holders of the
      Securities.

     

    SECTION
      2.10.    So
      long
      as any of the Securities of any series remain outstanding there may be an
      Authenticating Agent for any or all such series of Securities which the Trustee
      shall have the right to appoint. Said Authenticating Agent shall be authorized
      to act on behalf of the Trustee to authenticate Securities of such series issued
      upon exchange, transfer or partial redemption thereof, and Securities so
      authenticated shall be entitled to the benefits of this Indenture and shall
      be
      valid and obligatory for all purposes as if authenticated by the Trustee
      hereunder. All references in this Indenture to the authentication of Securities
      by the Trustee shall be deemed to include authentication by an Authenticating
      Agent for such series except for authentication upon original issuance or
      pursuant to Section 2.07 hereof. Each Authenticating Agent shall be acceptable
      to the Company and shall be a corporation which has a combined capital and
      surplus, as most recently reported or determined by it, sufficient under the
      laws of any jurisdiction under which it is organized or in which it is doing
      business to conduct a trust business, and which is otherwise authorized under
      such laws to conduct such business and is subject to supervision or examination
      by Federal or State authorities. If at any time any Authenticating Agent shall
      cease to be eligible in accordance with these provisions it shall resign
      immediately.

     

    Any
      Authenticating Agent may at any time resign by giving written notice of
      resignation to the Trustee and to the Company. The Trustee may at any time
      (and
      upon request by the Company shall) terminate the agency of any Authenticating
      Agent by giving written notice of termination to such Authenticating Agent
      and
      to the Company. Upon resignation, termination or cessation of eligibility of
      any
      Authenticating Agent, the Trustee may appoint an eligible successor
      Authenticating Agent acceptable to the Company. Any successor Authenticating
      Agent, upon acceptance of its appointment hereunder, shall become vested with
      all the rights, powers and duties of its predecessor hereunder as if originally
      named as an Authenticating Agent pursuant hereto. The Company agrees to pay
      to
      each Authenticating Agent from time to time reasonable compensation for its
      services under this Section.

     

    SECTION
      2.11.    (a)  If
      the Company shall establish pursuant to Section 2.01 that the Securities of
      a
      particular series are to be issued as a Global Security, then the Company shall
      execute and the Trustee shall, in accordance with Section 2.04, authenticate
      and
      deliver, a Global Security which (i) shall represent, and shall be denominated
      in an amount equal to the aggregate principal amount of, all of the Outstanding
      Securities of such series, (ii) shall be registered in the name of the
      Depository or its nominee, (iii) shall be authenticated and delivered by the
      Trustee to the Depository or pursuant to the Depository’s instruction and (iv)
      shall bear a legend substantially to the following effect: “Except as otherwise
      provided in Section 2.11 of the Indenture, this Security may be transferred,
      in
      whole but not in part, only to another nominee of the Depository or to a
      successor Depository or to a nominee of such successor Depository.”

     

    (b)  Notwithstanding
      the provisions of Section 2.05, the Global Security of a series may be
      transferred, in whole but not in part and in the manner provided in Section
      2.05, only to another nominee of the Depository for such series, or to a
      successor Depository for such series selected or approved by the Company or
      to a
      nominee of such successor Depository.

     

    (c)  If
      at any
      time the Depository for a series of Securities notifies the Company that it
      is
      unwilling or unable to continue as Depository for such series or if at any
      time
      the Depository for such series shall no longer be registered or in good standing
      under the Exchange Act, or other applicable statute or regulation and a
      successor Depository for such series is not appointed by the Company within
      90
      days after the Company receives such notice or becomes aware of such condition,
      as the case may be, this Section 2.11 shall no longer be applicable to the
      Securities of such series and the Company will execute, and subject to Section
      2.05, the Trustee will authenticate and deliver Securities of such series in
      definitive registered form without coupons, in authorized denominations, and
      in
      an aggregate principal amount equal to the principal amount of the Global
      Security of such series in exchange for such Global Security. In addition,
      the
      Company may at any time determine that the Securities of any series shall no
      longer be represented by a Global Security and that the provisions of this
      Section 2.11 shall no longer apply to the Securities of such series. In such
      event the Company will execute, and subject to Section 2.05, the Trustee, upon
      receipt of an Officers’ Certificate evidencing such determination by the
      Company, will authenticate and deliver Securities of such series in definitive
      registered form without coupons, in authorized denominations, and in an
      aggregate principal amount equal to the principal amount of the Global Security
      of such series in exchange for such Global Security. Upon the exchange of the
      Global Security for such Securities in definitive registered form without
      coupons, in authorized denominations, the Global Security shall be canceled
      by
      the Trustee. Such Securities in definitive registered form issued in exchange
      for the Global Security pursuant to this Section 2.11(c) shall be registered
      in
      such names and in such authorized denominations as the Depository, pursuant
      to
      instructions from its direct or indirect participants or otherwise, shall
      instruct the Security Registrar. The Trustee shall deliver such Securities
      to
      the Depository for delivery to the persons in whose names such Securities are
      so
      registered.

     

    SECTION
      2.12.    In
      the
      case of the Securities of any series denominated in any currency other than
      Dollars or in a composite currency (the “Required Currency”), except as
      otherwise specified with respect to such Securities as contemplated by Section
      2.01, the obligation of the Company to make any payment of the principal
      thereof, or the premium or interest thereon, shall not be discharged or
      satisfied by any tender by the Company, or recovery by the Trustee, in any
      currency other than the Required Currency, except to the extent that such tender
      or recovery shall result in the Trustee timely holding the full amount of the
      Required Currency then due and payable. If any such tender or recovery is in
      a
      currency other than the Required Currency, the Trustee may take such actions
      as
      it considers appropriate to exchange such currency for the Required Currency.
      The costs and risks of any such exchange, including, without limitation, the
      risks of delay and exchange rate fluctuation, shall be borne by the Company,
      the
      Company shall remain fully liable for any shortfall or delinquency in the full
      amount of Required Currency then due and payable, and in no circumstances shall
      the Trustee be liable therefor except in the case of its negligence or willful
      misconduct.

     

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

     

     

    ARTICLE
      THREE  

    REDEMPTION
      OF SECURITIES AND SINKING FUND PROVISIONS

     

    SECTION
      3.01.    The
      Company may redeem the Securities of any series issued hereunder on and after
      the dates and in accordance with the terms established for such series
      pursuant to Section 2.01 hereof.

     

    SECTION
      3.02.    (a)  In
      case the Company shall desire to exercise such right to redeem all or, as the
      case may be, a portion of the Securities of any series in accordance with the
      right reserved so to do, it shall give notice of such redemption to holders
      of
      the Securities of such series to be redeemed by mailing, first class postage
      prepaid, a notice of such redemption not less than 30 days and not more than
      60
      days before the date fixed for redemption of that series to such holders at
      their last addresses as they shall appear upon the Security Register. Any notice
      which is mailed in the manner herein provided shall be conclusively presumed
      to
      have been duly given, whether or not the registered holder receives the notice.
      In any case, failure duly to give such notice to the holder of any Security
      of
      any series designated for redemption in whole or in part, or any defect in
      the
      notice, shall not affect the validity of the proceedings for the redemption
      of
      any other Securities of such series or any other series. In the case of any
      redemption of Securities prior to the expiration of any restriction on such
      redemption or subject to compliance with certain conditions provided in the
      terms of such Securities or elsewhere in this Indenture, the Company shall
      furnish the Trustee with an Officers’ Certificate evidencing compliance with any
      such restriction or condition.

     

    Unless
      otherwise so provided as to a particular series of Securities, if at the time
      of
      mailing of any notice of redemption the Company shall not have deposited with
      the paying agent an amount in cash sufficient to redeem all of the Securities
      called for redemption, including accrued interest to the date fixed for
      redemption, such notice shall state that it is subject to the receipt of
      redemption moneys by the paying agent on or before the date fixed for redemption
      (unless such redemption is mandatory) and such notice shall be of no effect
      unless such moneys are so received on or before such date.

     

    Each
      such
      notice of redemption shall identify the Securities to be redeemed (including
      CUSIP numbers, if any), specify the date fixed for redemption and the redemption
      price at which Securities of that series are to be redeemed, and shall state
      that payment of the redemption price of such Securities to be redeemed will
      be
      made at the office or agency of the Company, upon presentation and surrender
      of
      such Securities, that interest accrued to the date fixed for redemption will
      be
      paid as specified in said notice, that from and after said date interest will
      cease to accrue and that the redemption is for a sinking fund, if such is the
      case. If less than all the Securities of a series are to be redeemed, the notice
      to the holders of Securities of that series to be redeemed in whole or in part
      shall specify the particular Securities to be so redeemed. In case any Security
      is to be redeemed in part only, the notice which relates to such Security 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 Security,
      a
      new Security or Securities of such series in principal amount equal to the
      unredeemed portion thereof will be issued.

     

    (b)  If
      less
      than all the Securities of a series are to be redeemed, the Company shall give
      the Trustee at least 45 days’ notice in advance of the date fixed for redemption
      (unless the Trustee shall agree to a shorter period) as to the aggregate
      principal amount of Securities of the series to be redeemed, and thereupon
      the
      Trustee shall select, by lot or in such other manner as it shall deem
      appropriate and fair in its discretion and which may provide for the selection
      of a portion or portions (equal to $1,000 or any integral multiple thereof,
      subject to Sections 2.01(xi) and (xiv)) of the principal amount of such
      Securities of a denomination larger than $1,000 (subject as aforesaid), the
      Securities to be redeemed and shall thereafter promptly notify the Company
      in
      writing of the numbers of the Securities to be redeemed, in whole or in
      part.

     

    The
      Company may, if and whenever it shall so elect, by delivery of instructions
      signed on its behalf by an Authorized Officer, instruct the Trustee or any
      paying agent to call all or any part of the Securities of a particular series
      for redemption and to give notice of redemption in the manner set forth in
      this
      Section, such notice to be in the name of the Company or its own name as the
      Trustee or such paying agent may deem advisable. In any case in which notice
      of
      redemption is to be given by the Trustee or any such paying agent, the Company
      shall deliver or cause to be delivered to, or permit to remain with, the Trustee
      or such paying agent, as the case may be, such Security Register, transfer
      books
      or other records, or suitable copies or extracts therefrom, sufficient to enable
      the Trustee or such paying agent to give any notice by mail that may be required
      under the provisions of this Section.

     

    SECTION
      3.03.    (a)  If
      the giving of notice of redemption shall have been completed as above provided,
      the Securities or portions of Securities of the series to be redeemed specified
      in such notice shall become due and payable on the date and at the place stated
      in such notice at the applicable redemption price, together with, subject to
      the
      Company Order or supplemental indenture hereto establishing the terms of such
      series of Securities, interest accrued to the date fixed for redemption and
      interest on such Securities or portions of Securities shall cease to accrue
      on
      and after the date fixed for redemption, unless the Company shall default in
      the
      payment of such redemption price and accrued interest with respect to any such
      Security or portion thereof. On presentation and surrender of such Securities
      on
      or after the date fixed for redemption at the place of payment specified in
      the
      notice, said Securities shall be paid and redeemed at the applicable redemption
      price for such series, together with, subject to the Company Order or
      supplemental indenture hereto establishing the terms of such series of
      Securities, interest accrued thereon to the date fixed for
      redemption.

     

    (b)  Upon
      presentation of any Security of such series which is to be redeemed in part
      only, the Company shall execute and the Trustee shall authenticate and the
      office or agency where the Security is presented shall deliver to the holder
      thereof, at the expense of the Company, a new Security or Securities of the
      same
      series, of authorized denominations in principal amount equal to the unredeemed
      portion of the Security so presented.

     

    SECTION
      3.04.    The
      provisions of this Section 3.04 and Sections 3.05 and 3.06 shall be applicable
      to any sinking fund for the retirement of Securities of a series, except as
      otherwise specified as contemplated by Section 2.01 for Securities of such
      series.

     

    The
      minimum amount of any sinking fund payment provided for by the terms of
      Securities of any series is herein referred to as a “mandatory sinking fund
      payment”, and any payment in excess of such minimum amount provided for by the
      terms of Securities of any series is herein referred to as an “optional sinking
      fund payment”. If provided for by the terms of Securities of any series, the
      cash amount of any sinking fund payment may be subject to reduction as provided
      in Section 3.05. Each sinking fund payment shall be applied to the redemption
      of
      Securities of such series as provided for by the terms of Securities of such
      series.

     

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

     

    SECTION
      3.06.    Not
      less
      than 45 days prior to each sinking fund payment date for any series of
      Securities, the Company will deliver to the Trustee an Officers’ Certificate
      specifying the amount of the next ensuing sinking fund payment for that series
      pursuant to the terms of that series, the portion thereof, if any, which is
      to
      be satisfied by delivering and crediting Securities of that series pursuant
      to
      Section 3.05 and the basis for such credit and will, together with such
      Officers’ Certificate, deliver to the Trustee any Securities to be so delivered.
      Not less than 30 days before each such sinking fund payment date the Trustee
      shall select the Securities to be redeemed upon such sinking fund payment date
      in the manner specified in Section 3.02 and cause notice of the redemption
      thereof to be given in the name of and at the expense of the Company in the
      manner provided in Section 3.02, except that the notice of redemption shall
      also
      state that the Securities of such series are being redeemed by operation of
      the
      sinking fund and the sinking fund payment date. Such notice having been duly
      given, the redemption of such Securities shall be made upon the terms and in
      the
      manner stated in Section 3.03.

    
    

     

    ARTICLE
      FOUR  

    PARTICULAR
      COVENANTS OF THE COMPANY

     

    The
      Company covenants and agrees for each series of the Securities as
      follows:

     

    SECTION
      4.01.    The
      Company will duly and punctually pay or cause to be paid the principal of (and
      premium, if any) and interest on the Securities of that series at the time
      and
      place and in the manner provided herein and established with respect to such
      Securities.

     

    SECTION
      4.02.    So
      long
      as any series of the Securities remain outstanding, the Company agrees to
      maintain an office or agency with respect to each such series, which shall
      be in
      the Borough of Manhattan, the City and State of New York or at such other
      location or locations as may be designated as provided in this Section 4.02,
      where (i) Securities of that series may be presented for payment, (ii)
      Securities of that series may be presented as hereinabove authorized for
      registration of transfer and exchange, and (iii) notices and demands to or
      upon
      the Company in respect of the Securities of that series and this Indenture
      may
      be given or served, such designation to continue with respect to such office
      or
      agency until the Company shall, by written notice signed by an Authorized
      Officer and delivered to the Trustee, designate some other office or agency
      for
      such purposes or any of them. If at any time the Company shall fail to maintain
      any such required office or agency or shall fail to furnish the Trustee with
      the
      address thereof, such presentations, notices and demands may be made or served
      at the Corporate Trust Office of the Trustee, and the Company hereby appoints
      the Trustee as its agent to receive all such presentations, notices and demands.
      The Trustee will initially act as paying agent for the Securities.

     

    The
      Company may also from time to time, by written notice signed by an Authorized
      Officer and delivered to the Trustee, designate one or more other offices or
      agencies for the foregoing purposes within or outside the Borough of Manhattan,
      City of New York, and may from time to time rescind such designations; provided,
      however, that no such designation or rescission shall in any manner relieve
      the
      Company of its obligations to maintain an office or agency in the Borough of
      Manhattan, City of New York for the foregoing purposes. The Company will give
      prompt written notice to the Trustee of any change in the location of any such
      other office or agency.

     

    SECTION
      4.03.    (a)  If
      the Company shall appoint one or more paying agents for all or any series of
      the
      Securities, other than the Trustee, the Company will cause each 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:

     

    (1)  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 Securities of that series (whether
      such
      sums have been paid to it by the Company or by any other obligor of such
      Securities) in trust for the benefit of the persons entitled
      thereto;

     

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

     

    (3)  that
      it
      will, at any time during the continuance of any failure referred to in the
      preceding paragraph (a)(2) above, upon the written request of the Trustee,
      forthwith pay to the Trustee all sums so held in trust by such paying agent;
      and

     

    (4)  that
      it
      will perform all other duties of paying agent as set forth in this
      Indenture.

     

    (b)  If
      the
      Company shall act as its own paying agent with respect to any series of the
      Securities, it will on or before each due date of the principal of (and premium,
      if any) or interest on Securities of that series, set aside, segregate and
      hold
      in trust for the benefit of the persons entitled thereto a sum sufficient to
      pay
      such principal (and premium, if any) or interest so becoming due on Securities
      of that series until such sums shall be paid to such persons or otherwise
      disposed of as herein provided and will promptly notify the Trustee of such
      action, or any failure (by it or any other obligor on such Securities) to take
      such action. Whenever the Company shall have one or more paying agents for
      any
      series of Securities, it will, prior to each due date of the principal of (and
      premium, if any) or interest on any Securities of that series, deposit with
      the
      paying agent a sum sufficient to pay the principal (and premium, if any) or
      interest so becoming due, such sum to be held in trust for the benefit of the
      persons entitled to such principal, premium or interest, and (unless such paying
      agent is the Trustee) the Company will promptly notify the Trustee of its action
      or failure so to act.

     

    (c)  Anything
      in this Section to the contrary notwithstanding, (i) the agreement to hold
      sums
      in trust as provided in this Section is subject to the provisions of Section
      11.04, and (ii) the Company may at any time, for the purpose of obtaining the
      satisfaction and discharge of this Indenture or for any other purpose, pay,
      or
      direct any paying agent to pay, to the Trustee all sums held in trust by the
      Company or such paying agent, such sums to be held by the Trustee upon the
      same
      terms and conditions as those upon which such sums were held by the Company
      or
      such paying agent; and, upon such payment by any paying agent to the Trustee,
      such paying agent shall be released from all further liability with respect
      to
      such money.

     

    SECTION
      4.04.    The
      Company, whenever necessary to avoid or fill a vacancy in the office of Trustee,
      will appoint, in the manner provided in Section 7.10, a Trustee, so that there
      shall at all times be a Trustee hereunder.

     

    SECTION
      4.05.    Unless
      a
      Company Order or supplemental indenture establishing the series of Securities
      provides otherwise, the Company will not, while any of the Securities remain
      outstanding, consolidate with, or merge into, or merge into itself, or sell
      or
      convey all or substantially all of its property to any other Person unless
      the
      provisions of Article Ten hereof are complied with.

     

    ARTICLE
      FIVE  

    SECURITYHOLDERS’
      LISTS AND REPORTS BY THE COMPANY

    AND
      THE
      TRUSTEE

     

    SECTION
      5.01.    The
      Company will furnish or cause to be furnished to the Trustee (a) on each regular
      record date (as defined in Section 2.03) for the Securities of each Tranche
      of a
      series a list, in such form as the Trustee may reasonably require, of the names
      and addresses of the holders of such Tranche of Securities as of such regular
      record date, provided, that the Company shall not be obligated to furnish or
      cause to be furnished such list at any time that the list shall not differ
      in
      any respect from the most recent list furnished to the Trustee by the Company
      and (b) at such other times as the Trustee may request in writing within 30
      days
      after the receipt by the Company of any such request, a list of similar form
      and
      content as of a date not more than 15 days prior to the time such list is
      furnished; provided, however, no such list need be furnished for any series
      for
      which the Trustee shall be the Security Registrar.

     

    SECTION
      5.02.    (a)  The
      Trustee shall preserve, in as current a form as is reasonably practicable,
      all
      information as to the names and addresses of the holders of Securities contained
      in the most recent list furnished to it as provided in Section 5.01 and as
      to
      the names and addresses of holders of Securities received by the Trustee in
      its
      capacity as Security Registrar (if acting in such capacity).

     

    (b)  The
      Trustee may destroy any list furnished to it as provided in Section 5.01 upon
      receipt of a new list so furnished.

     

    (c)  In
      case
      three or more holders of Securities of a series (hereinafter referred to as
      “applicants”) apply in writing to the Trustee, and furnish to the Trustee
      reasonable proof that each such applicant has owned a Security for a period
      of
      at least six months preceding the date of such application, and such application
      states that the applicants desire to communicate with other holders of
      Securities of such series or holders of all Securities with respect to their
      rights under this Indenture or under such Securities, and is accompanied by
      a
      copy of the form of proxy or other communication which such applicants propose
      to transmit, then the Trustee shall, within five Business Days after the receipt
      of such application, at its election, either:

     

    (1)  afford
      to
      such applicants access to the information preserved at the time by the Trustee
      in accordance with the provisions of subsection (a) of this Section 5.02;
      or

     

    (2)  inform
      such applicants as to the approximate number of holders of Securities of such
      series or of all Securities, as the case may be, whose names and addresses
      appear in the information preserved at the time by the Trustee, in accordance
      with the provisions of subsection (a) of this Section 5.02, and as to the
      approximate cost of mailing to such Securityholders the form of proxy or other
      communication, if any, specified in such application.

     

    (d)  If
      the
      Trustee shall elect not to afford such applicants access to such information,
      the Trustee shall, upon the written request of such applicants, mail to each
      holder of such series or of all Securities, as the case may be, whose name
      and
      address appears in the information preserved at the time by the Trustee in
      accordance with the provisions of subsection (a) of this Section 5.02, a copy
      of
      the form of proxy or other communication which is specified in such request,
      with reasonable promptness after a tender to the Trustee of the material to
      be
      mailed and of payment, or provision for the payment, of the reasonable expenses
      of mailing, unless within five days after such tender, the Trustee shall mail
      to
      such applicants and file with the Commission, together with a copy of the
      material to be mailed, a written statement to the effect that, in the opinion
      of
      the Trustee, such mailing would be contrary to the best interests of the holders
      of Securities of such series or of all Securities, as the case may be, or would
      be in violation of applicable law. Such written statement shall specify the
      basis of such opinion. If the Commission, after opportunity for a hearing upon
      the objections specified in the written statement so filed, shall enter an
      order
      refusing to sustain any of such objections or if, after the entry of an order
      sustaining one or more of such objections, the Commission shall find, after
      notice and opportunity for hearing, that all the objections so sustained have
      been met and shall enter an order so declaring, the Trustee shall mail copies
      of
      such material to all such Securityholders with reasonable promptness after
      the
      entry of such order and the renewal of such tender; otherwise, the Trustee
      shall
      be relieved of any obligation or duty to such applicants respecting their
      application.

     

    (e)  Each
      and
      every holder of the Securities, by receiving and holding the same, agrees with
      the Company and the Trustee that neither the Company nor the Trustee nor any
      paying agent nor any Security Registrar shall be held accountable by reason
      of
      the disclosure of any such information as to the names and addresses of the
      holders of Securities in accordance with the provisions of subsection (c) of
      this Section, 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 said subsection (c).

     

    SECTION
      5.03.    (a)  The
      Company covenants and agrees to file with the Trustee, within 30 days after
      the
      Company is required to file the same with the Commission, a copy of the annual
      reports and of the information, documents and other reports (or a copy of such
      portions of any of the foregoing as the Commission may from time to time by
      rules and regulations prescribe) which the Company may be required to file
      with
      the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act;
      or,
      if the Company is not required to file information, documents or reports
      pursuant to either of such sections, then to file with the Trustee and, unless
      the Commission shall not accept such information, documents or reports, the
      Commission, in accordance with the rules and regulations prescribed from time
      to
      time by the Commission, such of the supplementary and periodic information,
      documents and reports which may be required pursuant to Section 13 of the
      Exchange Act, in respect of a security listed and registered on a national
      securities exchange as may be prescribed from time to time in such rules and
      regulations.

     

    (b)  The
      Company covenants and agrees to file with the Trustee and the Commission, in
      accordance with the rules and regulations prescribed from time to time by the
      Commission, such additional information, documents and reports with respect
      to
      compliance by the Company with the conditions and covenants provided for in
      this
      Indenture as may be required from time to time by such rules and
      regulations.

     

    (c)  The
      Company covenants and agrees to transmit by mail, first class postage prepaid,
      or reputable over-night delivery service which provides for evidence of receipt,
      to the Securityholders, as their names and addresses appear upon the Security
      Register, within 30 days after the filing thereof with the Trustee, such
      summaries of any information, documents and reports required to be filed by
      the
      Company pursuant to subsections (a) and (b) of this Section as may be required
      by rules and regulations prescribed from time to time by the
      Commission.

     

    (d)  The
      Company covenants and agrees to furnish to the Trustee, on or before May 15
      in
      each calendar year in which any of the Securities are outstanding, or on or
      before such other day in each calendar year as the Company and the Trustee
      may
      from time to time agree upon, a Certificate as to compliance with all conditions
      and covenants under this Indenture. For purposes of this subsection (d), such
      compliance shall be determined without regard to any period of grace or
      requirement of notice provided under this Indenture.

     

    (e)  Delivery
      of such information, documents or reports to the Trustee pursuant to Section
      5.03(a) or 5.03(b) is for informational purposes only and the Trustee’s receipt
      thereof shall not constitute constructive notice of any information contained
      therein or determinable from information contained therein, including, in the
      case of Section 5.03(b), the Company’s compliance with any of the covenants
      hereunder.

     

    SECTION
      5.04.    (a)  On
      or before July 15 in each year in which any of the Securities are outstanding,
      the Trustee shall transmit by mail, first class postage prepaid, to the
      Securityholders, as their names and addresses appear upon the Security Register,
      a brief report dated as of the preceding May 15, with respect to any of the
      following events which may have occurred within the previous twelve months
      (but
      if no such event has occurred within such period no report need be
      transmitted):

     

    (1)  any
      change to its eligibility under Section 7.09, and its qualifications under
      Section 310(b) of the Trust Indenture Act;

     

    (2)  the
      creation of or any material change to a relationship specified in paragraphs
      (1)
      through (10) of Section 310 of the Trust Indenture Act;

     

    (3)  the
      character and amount of any advances (and if the Trustee elects so to state,
      the
      circumstances surrounding the making thereof) made by the Trustee (as such)
      which remain unpaid on the date of such report, and for the reimbursement of
      which it claims or may claim a lien or charge, prior to that of the Securities,
      on any property or funds held or collected by it as trustee if such advances
      so
      remaining unpaid aggregate more than 1/2 of 1% of the principal amount of the
      Securities outstanding on the date of such report;

     

    (4)  any
      change to the amount, interest rate, and maturity date of all other indebtedness
      owing by the Company, or by any other obligor on the Securities, to the Trustee
      in its individual capacity, on the date of such report, with a brief description
      of any property held as collateral security therefor, except any indebtedness
      based upon a creditor relationship arising in any manner described in paragraphs
      (2), (3), (4) or (6) of Section 311(b) of the Trust Indenture Act;

     

    (5)  any
      change to the property and funds, if any, physically in the possession of the
      Trustee as such on the date of such report;

     

    (6)  any
      release, or release and substitution, of property subject to the lien, if any,
      of this Indenture (and the consideration thereof, if any) which it has not
      previously reported;

     

    (7)  any
      additional issue of Securities which the Trustee has not previously reported;
      and

     

    (8)  any
      action taken by the Trustee in the performance of its duties under this
      Indenture which it has not previously reported and which in its opinion
      materially affects the Securities or the Securities of any series, except any
      action in respect of a default, notice of which has been or is to be withheld
      by
      it in accordance with the provisions of Section 6.07.

     

    (b)  The
      Trustee shall transmit by mail, first class postage prepaid, to the
      Securityholders, as their names and addresses appear upon the Security Register,
      a brief report with respect to the character and amount of any advances (and
      if
      the Trustee elects so to state, the circumstances surrounding the making
      thereof) made by the Trustee as such since the date of the last report
      transmitted pursuant to the provisions of subsection (a) of this Section (or
      if
      no such report has yet been so transmitted, since the date of execution of
      this
      Indenture), for the reimbursement of which it claims or may claim a lien or
      charge prior to that of the Securities of any series on property or funds held
      or collected by it as Trustee, and which it has not previously reported pursuant
      to this subsection if such advances remaining unpaid at any time aggregate
      more
      than 10% of the principal amount of Securities of such series outstanding at
      such time, such report to be transmitted within 90 days after such
      time.

     

    (c)  A
      copy of
      each such report shall, at the time of such transmission to Securityholders,
      be
      filed by the Trustee with the Company, with each stock exchange upon which
      any
      Securities are listed (if so listed) and also with the Commission. The Company
      agrees to notify the Trustee when any Securities become listed on any stock
      exchange.

     

    ARTICLE
      SIX 

    REMEDIES
      OF THE TRUSTEE AND SECURITYHOLDERS

    ON
      EVENT
      OF DEFAULT

     

    SECTION
      6.01.    (a)  
      Whenever
      used herein with respect to Securities of a particular series, “Event of
      Default” means any one or more of the following events which has occurred and is
      continuing:

     

    (1)  default
      in the payment of any installment of interest upon any of the Securities of
      that
      series, as and when the same shall become due and payable, and continuance
      of
      such default for a period of 30 days;

     

    (2)  default
      in the payment of the principal of (or premium, if any, on) any of the
      Securities of that series as and when the same shall become due and payable
      whether at maturity, upon redemption, pursuant to any sinking fund obligation,
      by declaration or otherwise, and continuance of such default for a period of
      3
      Business Days;

     

    (3)  failure
      on the part of the Company duly to observe or perform any other of the covenants
      or agreements on the part of the Company with respect to that series contained
      in such Securities or otherwise established with respect to that series of
      Securities pursuant to Section 2.01 hereof or contained in this Indenture (other
      than a covenant or agreement which has been expressly included in this Indenture
      solely for the benefit of one or more series of Securities other than such
      series) for a period of 90 days after the date on which written notice of such
      failure, requiring the same to be remedied and stating that such notice is
      a
“Notice of Default” hereunder, shall have been given to the Company by the
      Trustee, by registered or certified mail, or to the Company and the Trustee
      by
      the holders of at least 33% in principal amount of the Securities of that series
      at the time outstanding;

     

    (4)  a
      decree
      or order by a court having jurisdiction in the premises shall have been entered
      adjudging the Company as bankrupt or insolvent, or approving as properly filed
      a
      petition seeking liquidation or reorganization of the Company under the Federal
      Bankruptcy Code or any other similar applicable Federal or State law, and such
      decree or order shall have continued unvacated and unstayed for a period of
      90
      consecutive days; or an involuntary case shall be commenced under such Code
      in
      respect of the Company and shall continue undismissed for a period of 90
      consecutive days or an order for relief in such case shall have been entered;
      or
      a decree or order of a court having jurisdiction in the premises shall have
      been
      entered for the appointment on the ground of insolvency or bankruptcy of a
      receiver or custodian or liquidator or trustee or assignee in bankruptcy or
      insolvency of the Company or of its property, or for the winding up or
      liquidation of its affairs, and such decree or order shall have remained in
      force unvacated and unstayed for a period of 90 consecutive days;

     

    (5)  the
      Company shall institute proceedings to be adjudicated a voluntary bankrupt,
      or
      shall consent to the filing of a bankruptcy proceeding against it, or shall
      file
      a petition or answer or consent seeking liquidation or reorganization under
      the
      Federal Bankruptcy Code or any other similar applicable Federal or State law,
      or
      shall consent to the filing of any such petition, or shall consent to the
      appointment on the ground of insolvency or bankruptcy of a receiver or custodian
      or liquidator or trustee or assignee in bankruptcy or insolvency of it or of
      its
      property, or shall make an assignment for the benefit of creditors;
      or

     

    (6)  the
      occurrence of any other Event of Default with respect to Securities of such
      series, as contemplated by Section 2.01 hereof.

     

    (b)  The
      Company shall file with the Trustee written notice of the occurrence of any
      Event of Default within five Business Days of the Company’s becoming aware of
      any such Event of Default. In each and every such case, unless the principal
      of
      all the Securities of that series shall have already become due and payable,
      either the Trustee or the holders of not less than 33% in aggregate principal
      amount of the Securities of that series then outstanding hereunder, by notice
      in
      writing to the Company (and to the Trustee if given by such Securityholders),
      may declare the principal (or, if any of such Securities are Discount
      Securities, such portion of the principal amount thereof as may be specified
      by
      their terms as contemplated by Section 2.01) of all the Securities of that
      series to be due and payable immediately, and upon any such declaration the
      same
      shall become and shall be immediately due and payable, anything contained in
      this Indenture or in the Securities of that series or established with respect
      to that series pursuant to Section 2.01 hereof to the contrary
      notwithstanding.

     

    (c)  Section
      6.01(b), however, is subject to the condition that if, at any time after the
      principal of the Securities of that series 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, the Company shall
      pay or shall deposit with the Trustee a sum sufficient to pay all matured
      installments of interest upon all the Securities of that series and the
      principal of (and premium, if any, on) any and all Securities of that series
      which shall have become due otherwise than by acceleration (with interest upon
      such principal and premium, if any, and, to the extent that such payment is
      enforceable under applicable law, upon overdue installments of interest, at
      the
      rate per annum expressed in the Securities of that series to the date of such
      payment or deposit) and the amount payable to the Trustee under Section 7.06,
      and any and all defaults under the Indenture, other than the nonpayment of
      principal on Securities of that series which shall not have become due by their
      terms, shall have been remedied or waived as provided in Section 6.06, then
      and
      in every such case the holders of a majority in aggregate principal amount
      of
      the Securities of that series then outstanding, by written notice to the Company
      and to the Trustee, may rescind and annul such declaration and its consequences
      with respect to that series of Securities; but no such rescission and annulment
      shall extend to or shall affect any subsequent default, or shall impair any
      right consequent thereon.

     

    (d)  In
      case
      the Trustee has been directed by Securityholders and has proceeded to enforce
      any right with respect to Securities of that series under this Indenture and
      such proceedings shall have been discontinued or abandoned because of such
      rescission or annulment or for any other reason or shall have been determined
      adversely to the Trustee, then and in every such case the Company and the
      Trustee shall be restored respectively to their former positions and rights
      hereunder, and all rights, remedies and powers of the Company and the Trustee
      shall continue as though no such proceedings had been taken.

     

    SECTION
      6.02.    (a)  The
      Company covenants that in case an Event of Default described in subsection
      6.01(a)(1) or (a)(2) shall have occurred and be continuing, upon demand of
      the
      Trustee, the Company will pay to the Trustee, for the benefit of the holders
      of
      the Securities of that series, the whole amount that then shall have become
      due
      and payable on all such Securities for principal (and premium, if any) or
      interest, or both, 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 and without duplication of any other amounts
      paid by the Company in respect thereof) upon overdue installments of interest
      at
      the rate per annum expressed in the Securities of that series; and, in addition
      thereto, such further amount as shall be sufficient to cover the costs and
      expenses of collection, and the amount payable to the Trustee under Section
      7.06.

     

    (b)  In
      case
      the Company 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 action 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 judgment or final decree, and may enforce any such judgment or
      final decree against the Company or other obligor upon the Securities of that
      series and collect in the manner provided by law out of the property of the
      Company or other obligor upon the Securities of that series wherever situated
      the monies adjudged or decreed to be payable.

     

    (c)  In
      case
      of any receivership, insolvency, liquidation, bankruptcy, reorganization,
      readjustment, arrangement, composition or other judicial proceedings affecting
      the Company, any other obligor on such Securities, or the creditors or property
      of either, the Trustee shall have power to intervene in such proceedings and
      take any action therein that may be permitted by the court and shall (except
      as
      may be otherwise provided by law) be entitled to file such proofs of claim
      and
      other papers and documents as may be necessary or advisable in order to have
      the
      claims of the Trustee and of the holders of Securities of such series allowed
      for the entire amount due and payable by the Company or such other obligor
      under
      this Indenture at the date of institution of such proceedings and for any
      additional amount which may become due and payable by the Company or such other
      obligor after such date, and to collect and receive any monies or other property
      payable or deliverable on any such claim, and to distribute the same after
      the
      deduction of the amount payable to the Trustee under Section 7.06; and any
      receiver, assignee or trustee in bankruptcy or reorganization is hereby
      authorized by each of the holders of Securities of such series to make such
      payments to the Trustee, and, in the event that the Trustee shall consent to
      the
      making of such payments directly to such Securityholders, to pay to the Trustee
      any amount due it under Section 7.06.

     

    (d)  All
      rights of action and of asserting claims under this Indenture, or under any
      of
      the terms established with respect to Securities of that series, may be enforced
      by the Trustee without the possession of any of such Securities, 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 payment to the Trustee of any amounts due under Section 7.06,
      be
      for the ratable benefit of the holders of the Securities of such series.

     

    In
      case
      of an Event of Default hereunder, the Trustee may in its discretion proceed
      to
      protect and enforce the rights vested in it by this Indenture by such
      appropriate judicial proceedings as the Trustee shall deem most effectual to
      protect and enforce any of such rights, either at law or in equity or in
      bankruptcy or otherwise, whether for the specific enforcement of any covenant
      or
      agreement contained in the Indenture or in aid of the exercise of any power
      granted in this Indenture, or to enforce any other legal or equitable right
      vested in the Trustee by this Indenture or by law.

     

    Nothing
      herein contained shall be deemed to authorize the Trustee to authorize or
      consent to or accept or adopt on behalf of any Securityholder any plan of
      reorganization, arrangement, adjustment or composition affecting the Securities
      of that series or the rights of any holder thereof or to authorize the Trustee
      to vote in respect of the claim of any Securityholder in any such
      proceeding.

     

    SECTION
      6.03.    Any
      monies collected by the Trustee pursuant to Section 6.02 with respect to a
      particular series of Securities shall be applied in the order following, at
      the
      date or dates fixed by the Trustee and, in case of the distribution of such
      monies on account of principal (or premium, if any) or interest, upon
      presentation of the several Securities of that series, 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 and of all amounts payable to the
      Trustee under Section 7.06;

     

    SECOND:     
      To
      the
      payment of the amounts then due and unpaid upon Securities of such series for
      principal (and premium, if any) 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 amounts due and payable on such
      Securities for principal (and premium, if any) and interest, respectively;
      and

     

    THIRD: 
To
      the
      Company.

     

    SECTION
      6.04.    No
      holder
      of any Security of any series shall have any right by virtue or by availing
      of
      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 or trustee, or for any other remedy hereunder, unless
      such holder previously shall have given to the Trustee written notice of an
      Event of Default and of the continuance thereof with respect to Securities
      of
      such series specifying such Event of Default, as hereinbefore provided, and
      unless also the holders of not less than 33% in aggregate principal amount
      of
      the Securities of such series 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, expenses and liabilities to
      be
      incurred therein or thereby, and the Trustee for 60 days after its receipt
      of
      such notice, request and offer of indemnity, shall have failed to institute
      any
      such action, suit or proceeding; it being understood and intended, and being
      expressly covenanted by the taker and holder of every Security of such series
      with every other such taker and holder and the Trustee, that no one or more
      holders of Securities of such series shall have any right in any manner
      whatsoever by virtue or by availing of any provision of this Indenture to
      affect, disturb or prejudice the rights of the holders of any other of such
      Securities, 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 Securities of such series. For the protection and enforcement of
      the
      provisions of this Section, each and every Securityholder and the Trustee shall
      be entitled to such relief as can be given either at law or in
      equity.

     

    Notwithstanding
      any other provisions of this Indenture, however, the right of any holder of
      any
      Security to receive payment of the principal of (and premium, if any) and
      interest on such Security, as therein provided, on or after the respective
      due
      dates expressed in such Security (or in the case of redemption, on the
      redemption date), or to institute suit for the enforcement of any such payment
      on or after such respective dates or redemption date, shall not be impaired
      or
      affected without the consent of such holder.

     

    SECTION
      6.05.    (a)  All
      powers and remedies given by this Article to the Trustee or to the
      Securityholders shall, to the extent permitted by law, be deemed cumulative
      and
      not exclusive of any others thereof or of any other powers and remedies
      available to the Trustee or the holders of the Securities, by judicial
      proceedings or otherwise, to enforce the performance or observance of the
      covenants and agreements contained in this Indenture or otherwise established
      with respect to such Securities.

     

    (b)  No
      delay
      or omission of the Trustee or of any holder of any of the Securities to exercise
      any right or power accruing upon any 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 an acquiescence therein; and, subject to the
      provisions of Section 6.04, every power and remedy given by this Article or
      by
      law to the Trustee or to the Securityholders may be exercised from time to
      time,
      and as often as shall be deemed expedient, by the Trustee or by the
      Securityholders.

     

    SECTION
      6.06.    The
      holders of a majority in aggregate principal amount of the Securities of any
      series at the time outstanding, determined in accordance with Section 8.04,
      shall have the right to direct the time, method and place of conducting any
      proceeding for any remedy available to the Trustee, or exercising any trust
      or
      power conferred on the Trustee with respect to such series; provided, however,
      that such direction shall not be in conflict with any rule of law or with this
      Indenture or unduly prejudicial to the rights of holders of Securities of any
      other series at the time outstanding determined in accordance with Section
      8.04
      not parties thereto. Subject to the provisions of Section 7.01, the Trustee
      shall have the right to decline to follow any such direction if the Trustee
      in
      good faith shall, by a Responsible Officer or Officers of the Trustee, determine
      that the proceeding so directed might involve the Trustee in personal liability.
      The holders of a majority in aggregate principal amount of the Securities of
      any
      series at the time outstanding affected thereby, determined in accordance with
      Section 8.04, may on behalf of the holders of all of the Securities of such
      series waive any past default in the performance of any of the covenants
      contained herein or established pursuant to Section 2.01 with respect to such
      series and its consequences, except a default in the payment of the principal
      of, or premium, if any, or interest on, any of the Securities of that series
      as
      and when the same shall become due by the terms of such Securities otherwise
      than by acceleration (unless such default has been cured and a sum sufficient
      to
      pay all matured installments of interest and principal otherwise than by
      acceleration and any premium has been deposited with the Trustee (in accordance
      with Section 6.01(c))) or a call for redemption of Securities of that series.
      Upon any such waiver, the default covered thereby shall be deemed to be cured
      for all purposes of this Indenture and the Company, the Trustee and the holders
      of the Securities of such series shall be restored to their former positions
      and
      rights hereunder, respectively; but no such waiver shall extend to any
      subsequent or other default or impair any right consequent thereon.

     

    SECTION
      6.07.    The
      Trustee shall, within 90 days after the occurrence of a default with respect
      to
      a particular series, transmit by mail, first class postage prepaid, to the
      holders of Securities of that series, as their names and addresses appear upon
      the Security Register, notice of all defaults with respect to that series known
      to the Trustee, unless such defaults shall have been cured or waived before
      the
      giving of such notice (the term “defaults” for the purposes of this Section
      being hereby defined to be the events specified in subsections (1), (2), (3),
      (4), (5), (6) and (7) of Section 6.01(a), not including any periods of grace
      provided for therein and irrespective of the giving of notice provided for
      by
      subsection (4) of Section 6.01(a)); provided, that, except in the case of
      default in the payment of the principal of (or premium, if any) or interest
      on
      any of the Securities of that series or in the payment of any sinking or
      analogous fund installment established with respect to that series, the Trustee
      shall be protected in withholding such notice if and so long as the board of
      directors, the executive committee, or a trust committee of directors and/or
      Responsible Officers, of the Trustee in good faith determine that the
      withholding of such notice is in the interests of the holders of Securities
      of
      that series; provided further, that in the case of any default of the character
      specified in Section 6.01(a)(4) with respect to Securities of such series no
      such notice to the holders of the Securities of that series shall be given
      until
      at least 30 days after the occurrence thereof.

     

    The
      Trustee shall not be deemed to have knowledge of any default, except (i) a
      default under subsection (a)(1), (a)(2) or (a)(3) of Section 6.01 as long as
      the
      Trustee is acting as paying agent for such series of Securities or (ii) any
      default as to which the Trustee shall have received written notice or a
      Responsible Officer charged with the administration of this Indenture shall
      have
      obtained written notice.

     

    SECTION
      6.08.    All
      parties to this Indenture agree, and each holder of any Securities by his or
      her
      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,
      against any party litigant in such suit, having due regard to the merits and
      good faith of the claims or defenses made by such party litigant; but the
      provisions of this Section shall not apply to any suit instituted by the
      Trustee, to any suit instituted by any Securityholder, or group of
      Securityholders, holding more than 10% in aggregate principal amount of the
      outstanding Securities of any series, or to any suit instituted by any
      Securityholder for the enforcement of the payment of the principal of (or
      premium, if any) or interest on any Security of such series, on or after the
      respective due dates expressed in such Security or established pursuant to
      this
      Indenture.

     

     

    ARTICLE
      SEVEN 

    CONCERNING
      THE TRUSTEE

     

    SECTION
      7.01.    (a)  The
      Trustee, prior to the occurrence of an Event of Default with respect to
      Securities of a series and after the curing of all Events of Default with
      respect to Securities of that series which may have occurred, shall undertake
      to
      perform with respect to Securities of such series such duties and only such
      duties as are specifically set forth in this Indenture, and no implied covenants
      or obligations shall be read into this Indenture against the Trustee. In case
      an
      Event of Default with respect to Securities of a series has occurred (which
      has
      not been cured or waived), the Trustee shall exercise with respect to Securities
      of that series 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.

     

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

     

    (1)  prior
      to
      the occurrence of an Event of Default with respect to Securities of a series
      and
      after the curing or waiving of all such Events of Default with respect to that
      series which may have occurred:

     

    (i)  the
      duties and obligations of the Trustee shall with respect to Securities of such
      series be determined solely by the express provisions of this Indenture, and
      the
      Trustee shall not be liable with respect to Securities of such series except
      for
      the performance of such duties and obligations as are specifically 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 the part of the Trustee, the Trustee may with respect
      to
      Securities of such series conclusively rely, as to the truth of the statements
      and the correctness of the opinions expressed therein, upon any certificates
      or
      opinions furnished to the Trustee and conforming to the requirements of this
      Indenture; but in the case of any such certificates or opinions which by any
      provision hereof are specifically required to be furnished to the Trustee,
      the
      Trustee shall be under a duty to examine the same to determine whether or not
      they conform to the requirements of this Indenture (but need not confirm or
      investigate the accuracy of mathematical calculations or other facts stated
      therein);

     

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

     

    (3)  the
      Trustee shall not be liable with respect to any action taken or omitted to
      be
      taken by it in good faith in accordance with the direction of the holders of
      not
      less than a majority in principal amount of the Securities of any series at
      the
      time outstanding relating to the time, method and place of conducting any
      proceeding for any remedy available to the Trustee, or exercising any trust
      or
      power conferred upon the Trustee under this Indenture with respect to the
      Securities of that series; and

     

    (4)  none
      of
      the provisions contained in this Indenture shall require the Trustee to expend
      or risk its own funds or otherwise incur or risk personal financial liability
      in
      the performance of any of its duties or in the exercise of any of its rights
      or
      powers, if the Trustee reasonably believes that the repayment of such funds
      or
      liability is not reasonably assured to it under the terms of this Indenture
      or
      adequate indemnity against such risk is not reasonably assured to
      it.

     

    (c)  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, or any other capacity the Trustee may serve hereunder, shall be subject
      to the provisions of this Section 7.01.

     

    SECTION
      7.02.    Except
      as
      otherwise provided in Section 7.01:

     

    (a)  The
      Trustee may conclusively rely and shall be fully protected in acting or
      refraining from acting upon any resolution, certificate, statement, instrument,
      opinion, report, notice, request, direction, consent, order, demand, approval,
      bond, security or other paper or document believed by it (i) to be genuine
      and
      (ii) to have been signed or presented by the proper party or
      parties;

     

    (b)  Any
      request, direction, order or demand of the Company mentioned herein shall be
      sufficiently evidenced by a Board Resolution or an Officers’ Certificate (unless
      other evidence in respect thereof is specifically prescribed
      herein);

     

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

     

    (d)  The
      Trustee shall be under no obligation to exercise any of the rights or powers
      vested in it by this Indenture at the request, order or direction of any of
      the
      Securityholders, pursuant to the provisions of this Indenture, unless such
      Securityholders shall have offered to the Trustee security or indemnity
      satisfactory to it against the costs, expenses and liabilities which may be
      incurred therein or thereby; nothing herein contained shall, however, relieve
      the Trustee of the obligation, upon the occurrence of an Event of Default with
      respect to a series of the Securities (which has not been cured or waived)
      to
      exercise with respect to Securities of that series such of the rights and powers
      vested in it by this Indenture, and to 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;

     

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

     

    (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, consent, direction, order, demand, approval, bond, security,
      or
      other papers or documents, unless requested in writing so to do by the holders
      of not less than a majority in principal amount of the outstanding Securities
      of
      the particular series affected thereby (determined as provided in Section 8.04);
      provided, however, that if the payment within a reasonable time to the Trustee
      of the costs, expenses or liabilities likely to be incurred by it in the making
      of such investigation is, 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 costs, expenses or
      liabilities as a condition precedent to so proceeding. The reasonable expense
      of
      every such examination shall be paid by the Company or, if paid by the Trustee,
      shall be repaid by the Company upon demand. Notwithstanding the foregoing,
      the
      Trustee, in its direction, may make such further inquiry or investigation into
      such facts or matters as it may see fit. In making any investigation required
      or
      authorized by this subparagraph, the Trustee shall be entitled to examine books,
      records and premises of the Company, 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
      permissive right of the Trustee to do things enumerated in this Indenture shall
      not be construed as a duty.

     

    SECTION
      7.03.    (a)  The
      recitals contained herein and in the Securities (other than the Certificate
      of
      Authentication on the Securities) shall be taken as the statements of the
      Company, and the Trustee assumes no responsibility for the correctness of the
      same.

     

    (b)  The
      Trustee makes no representations as to the validity or sufficiency of this
      Indenture or of the Securities.

     

    (c)  The
      Trustee shall not be accountable for the use or application by the Company
      of
      any of the Securities or of the proceeds of such Securities, or for the use
      or
      application of any monies paid over by the Trustee in accordance with any
      provision of this Indenture or established pursuant to Section 2.01, or for
      the
      use or application of any monies received by any paying agent other than the
      Trustee.

     

    SECTION
      7.04.    The
      Trustee or any paying agent or Security Registrar, in its individual or any
      other capacity, may become the owner or pledgee of Securities with the same
      rights it would have if it were not Trustee, paying agent or Security
      Registrar.

     

    SECTION
      7.05.    Subject
      to the provisions of Section 11.04, all monies received by the Trustee shall,
      until used or applied as herein provided, be held in trust for the purposes
      for
      which they were received, but 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 monies received by it hereunder except such as it may agree in writing
      with the Company to pay thereon.

     

    SECTION
      7.06.    (a)  The
      Company covenants and agrees to pay to the Trustee from time to time, and the
      Trustee shall be entitled to, reasonable compensation (which shall not be
      limited by any provision of law in regard to the compensation of a trustee
      of an
      express trust) for all services rendered by it in the execution of the trusts
      hereby created and in the exercise and performance of any of the powers and
      duties hereunder of the Trustee, and the Company will pay or reimburse the
      Trustee upon its request for all reasonable expenses, disbursements and advances
      incurred or made by the Trustee in accordance with any of the provisions of
      this
      Indenture (including the reasonable compensation and the reasonable expenses
      and
      disbursements of its counsel and agents and of all persons not regularly in
      its
      employ) except any such expense, disbursement or advance as may arise from
      its
      negligence, willful misconduct or bad faith. The Company also covenants to
      indemnify the Trustee (and its officers, agents, directors and employees) for,
      and to hold it harmless against, any loss, liability or expense incurred without
      negligence, willful misconduct or bad faith on the part of the Trustee and
      arising out of or in connection with the acceptance or administration of this
      trust, including the reasonable costs and expenses of defending itself against
      any claim or liability in connection with the exercise or performance of any
      of
      its powers or duties hereunder.

     

    (b)  The
      obligations of the Company under this Section to compensate and indemnify the
      Trustee and to pay or reimburse the Trustee for expenses, disbursements and
      advances shall constitute additional indebtedness hereunder. Such additional
      indebtedness shall be secured by a lien prior to that of the Securities upon
      all
      property and funds held or collected by the Trustee as such, except funds held
      in trust for the benefit of the holders of particular Securities.

     

    (c)  Without
      prejudice to any other rights available to the Trustee under applicable law,
      when the Trustee incurs expenses or renders services in connection with an
      Event
      of Default, the expenses (including reasonable charges and expenses of its
      counsel) and compensation for its services are intended to constitute expenses
      of administration under applicable federal or state bankruptcy, insolvency
      or
      similar law.

     

    (d)  The
      provisions of this Section 7.06 shall survive the satisfaction and discharge
      of
      this Indenture or the appointment of a successor trustee.

     

    SECTION
      7.07.    Except
      as
      otherwise provided in Section 7.01, whenever in the administration of the
      provisions of this Indenture the Trustee shall deem it necessary or desirable
      that a matter be proved or established prior to taking or suffering or omitting
      to take any action hereunder, such matter (unless other evidence in respect
      thereof be herein specifically prescribed) may, in the absence of bad faith
      on
      the part of the Trustee, be deemed to be conclusively proved and established
      by
      an Officers’ Certificate delivered to the Trustee and such certificate, in the
      absence of bad faith on the part of the Trustee, shall be full warrant to the
      Trustee for any action taken, suffered or omitted to be taken by it under the
      provisions of this Indenture upon the faith thereof.

     

    SECTION
      7.08.    If
      the
      Trustee has acquired or shall acquire a conflicting interest within the meaning
      of the Trust Indenture Act, the Trustee shall either eliminate such interest
      or
      resign, to the extent and in the manner provided by, and subject to the
      provisions of, the Trust Indenture Act and this Indenture.

     

    SECTION
      7.09.    There
      shall at all times be a Trustee with respect to the Securities issued hereunder
      which shall at all times be a corporation organized and doing business under
      the
      laws of the United States of America or any State or Territory thereof or of
      the
      District of Columbia, or a corporation or other person permitted to act as
      trustee by the Commission, authorized under such laws to exercise corporate
      trust powers, having a combined capital and surplus of at least 50 million
      dollars, and subject to supervision or examination by Federal, State,
      Territorial, or District of Columbia authority. If such corporation publishes
      reports of condition at least annually, pursuant to law or to the requirements
      of the aforesaid supervising or examining authority, then for the purposes
      of
      this Section, the combined capital and surplus of such corporation shall be
      deemed to be its combined capital and surplus as set forth in its most recent
      report of condition so published. The Company may not, nor may any person
      directly or indirectly controlling, controlled by, or under common control
      with
      the Company, serve as Trustee. In case at any time the Trustee shall cease
      to be
      eligible in accordance with the provisions of this Section, the Trustee shall
      resign immediately in the manner and with the effect specified in Section
      7.10.

     

    SECTION
      7.10.    (a)    
      The
      Trustee or any successor hereafter appointed, may at any time resign with
      respect to the Securities of one or more series by giving written notice thereof
      to the Company and by transmitting notice of resignation by mail, first class
      postage prepaid, to the Securityholders of such series, as their names and
      addresses appear upon the Security Register. Upon receiving such notice of
      resignation, the Company shall promptly appoint a successor trustee with respect
      to Securities of such series by written instrument, in duplicate, executed
      by
      order of the Board of Directors, one copy of which instrument shall be delivered
      to the resigning Trustee and one copy to the successor trustee. If no successor
      trustee shall have been so appointed and have accepted appointment within 30
      days after the mailing of such notice of resignation, the resigning Trustee
      may
      petition any court of competent jurisdiction for the appointment of a successor
      trustee with respect to Securities of such series, or any Securityholder of
      that
      series who has been a bona fide holder of a Security or Securities for at least
      six months may, subject to the provisions of Section 6.08, on behalf of himself
      and all others similarly situated, petition any such court for the appointment
      of a successor trustee. Such court may thereupon after such notice, if any,
      as
      it may deem proper and prescribe, appoint a successor trustee.

     

    (b)  In
      case
      at any time any of the following shall occur: 

     

    (1)  the
      Trustee shall fail to comply with the provisions of Section 7.08 after written
      request therefor by the Company or by any Securityholder who has been a bona
      fide holder of a Security or Securities for at least six months; or

     

    (2)  The
      Trustee shall cease to be eligible in accordance with the provisions of Section
      7.09 and shall fail to resign after written request therefor by the Company
      or
      by any such Securityholder; or

     

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

     

    then,
      in
      any such case, the Company may remove the Trustee with respect to all Securities
      and appoint a successor trustee by written instrument, in duplicate, executed
      by
      order of the Board of Directors, one copy of which instrument shall be delivered
      to the Trustee so removed and one copy to the successor trustee, or, subject
      to
      the provisions of Section 6.08, unless, with respect to subsection (b)(1) above,
      the Trustee’s duty to resign is stayed as provided in Section 310(b) of the
      Trust Indenture Act, any Securityholder who has been a bona fide holder of
      a
      Security or Securities 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. Such court
      may thereupon after such notice, if any, as it may deem proper and prescribe,
      remove the Trustee and appoint a successor trustee.

     

    (c)  The
      holders of a majority in aggregate principal amount of the Securities of any
      series at the time outstanding may at any time remove the Trustee with respect
      to such series and appoint a successor trustee.

     

    (d)  Any
      resignation or removal of the Trustee and appointment of a successor trustee
      with respect to the Securities of a series pursuant to any of the provisions
      of
      this Section shall become effective upon acceptance of appointment by the
      successor trustee as provided in Section 7.11.

     

    (e)  Any
      successor trustee appointed pursuant to this Section may be appointed with
      respect to the Securities of one or more series or all of such series, and
      at
      any time there shall be only one Trustee with respect to the Securities of
      any
      particular series.

     

    SECTION
      7.11.    (a)  In
      case of the appointment hereunder of a successor trustee with respect to all
      Securities, every such successor trustee so appointed shall execute, acknowledge
      and deliver to the Company and to the retiring Trustee an instrument accepting
      such appointment, and thereupon the resignation or removal of the retiring
      Trustee shall become effective and such successor trustee, without any further
      act, deed or conveyance, shall become vested with all the rights, powers, trusts
      and duties of the retiring Trustee; but, on the request of the Company or the
      successor trustee, such retiring Trustee shall, upon payment of its charges,
      execute and deliver an instrument transferring to such successor trustee all
      the
      rights, powers, and trusts of the retiring Trustee and shall duly assign,
      transfer and deliver to such successor trustee all property and money held
      by
      such retiring Trustee hereunder, subject to any prior lien provided for in
      Section 7.06(b).

     

    (b)  In
      case
      of the appointment hereunder of a successor trustee with respect to the
      Securities of one or more (but not all) series, the Company, the retiring
      Trustee and each successor trustee with respect to the Securities of one or
      more
      series shall execute and deliver an indenture supplemental hereto wherein each
      successor trustee shall accept such appointment and which (1) shall contain
      such
      provisions as shall be necessary or desirable to transfer and confirm to, and
      to
      vest in, each successor trustee all the rights, powers, trusts and duties of
      the
      retiring Trustee with respect to the Securities of that or those series to
      which
      the appointment of such successor trustee relates, (2) shall contain such
      provisions as shall be deemed necessary or desirable to confirm that all the
      rights, powers, trusts and duties of the retiring Trustee with respect to the
      Securities of that or those series as to which the retiring Trustee is not
      retiring shall continue to be vested in the retiring Trustee, and (3) shall
      add
      to or change any of the provisions of this Indenture as shall be necessary
      to
      provide for or facilitate the administration of the trusts hereunder by more
      than one Trustee, it being understood that nothing herein or in such
      supplemental indenture shall constitute such Trustees co-trustees of the same
      trust, 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 that no Trustee shall be responsible for any act or failure
      to
      act on the part of any other Trustee hereunder; 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, such
      retiring Trustee shall with respect to the Securities of that or those series
      to
      which the appointment of such successor trustee relates have no further
      responsibility for the exercise of rights and powers or for the performance
      of
      the duties and obligations vested in the Trustee under this Indenture, and
      each
      such successor trustee, without any further act, deed or conveyance, shall
      become vested with all the rights, powers, trusts and duties of the retiring
      Trustee with respect to the Securities of that or those series to which the
      appointment of such successor trustee relates; but, on request of the Company
      or
      any successor trustee, such retiring Trustee shall duly assign, transfer and
      deliver to such successor trustee, to the extent contemplated by such
      supplemental indenture, the property and money held by such retiring Trustee
      hereunder with respect to the Securities of that or those series to which the
      appointment of such successor trustee relates.

     

    (c)  Upon
      request of any such successor trustee, the Company shall execute any and all
      instruments for more fully and certainly vesting in and confirming to such
      successor trustee all such rights, powers and trusts referred to in paragraph
      (a) or (b) of this Section, 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 under the Trust Indenture
      Act and eligible under this Article.

     

    (e)  Upon
      acceptance of appointment by a successor trustee as provided in this Section,
      the Company shall transmit notice of the succession of such trustee hereunder
      by
      mail, first class postage prepaid, to the Securityholders, as their names and
      addresses appear upon the Security Register. If the Company fails to transmit
      such notice within ten days after acceptance of appointment by the successor
      trustee, the successor trustee shall cause such notice to be transmitted at
      the
      expense of the Company.

     

    SECTION
      7.12.    Any
      corporation into which the Trustee may be merged or converted or with which
      it
      may be consolidated, or any corporation resulting from any merger, conversion
      or
      consolidation to which the Trustee shall be a party, or any corporation
      succeeding to all or substantially all of the corporate trust business of the
      Trustee, shall be the successor of the Trustee hereunder, provided such
      corporation shall be qualified under the provisions of the Trust Indenture
      Act
      and eligible under the provisions of Section 7.09, without the execution or
      filing of any paper or any further act on the part of any of the parties hereto,
      anything herein to the contrary notwithstanding. In case any Securities shall
      have been authenticated, but not delivered, by the Trustee then in office,
      any
      successor by merger, conversion or consolidation to such authenticating Trustee
      may adopt such authentication and deliver the Securities so authenticated with
      the same effect as if such successor Trustee had itself authenticated such
      Securities.

     

    SECTION
      7.13.    If
      and
      when the Trustee shall become a creditor of the Company (or any other obligor
      upon the Securities), the Trustee shall be subject to the provisions of the
      Trust Indenture Act regarding collection of claims against the Company (or
      any
      other obligor upon the Securities).

     

     

    ARTICLE
      EIGHT  

    CONCERNING
      THE SECURITYHOLDERS

     

    SECTION
      8.01.    Whenever
      in this Indenture it is provided that the holders of a majority or specified
      percentage in aggregate principal amount of the Securities of a particular
      series 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 majority
      or
      specified percentage of that series have joined therein may be evidenced by
      any
      instrument or any number of instruments of similar tenor executed by such
      holders of Securities of that series in person or by agent or proxy appointed
      in
      writing.

     

    If
      the
      Company shall solicit from the Securityholders of any series any request,
      demand, authorization, direction, notice, consent, waiver or other action,
      the
      Company may, at its option, as evidenced by an Officers’ Certificate, fix in
      advance a record date for such series for the determination of Securityholders
      entitled to give such request, demand, authorization, direction, notice,
      consent, waiver or other action, but the Company shall have no obligation to
      do
      so. If such a record date is fixed, such request, demand, authorization,
      direction, notice, consent, waiver or other action may be given before or after
      the record date, but only the Securityholders of record at the close of business
      on the record date shall be deemed to be Securityholders for the purposes of
      determining whether Securityholders of the requisite proportion of outstanding
      Securities of that series have authorized or agreed or consented to such
      request, demand, authorization, direction, notice, consent, waiver or other
      action, and for that purpose the outstanding Securities of that series shall
      be
      computed as of the record date; provided that no such authorization, agreement
      or consent by such Securityholders on the record date shall be deemed effective
      unless it shall become effective pursuant to the provisions of this Indenture
      not later than six months after the record date.

     

    In
      determining whether the holders of the requisite aggregate principal amount
      of
      Securities of a particular series have concurred in any direction, consent
      or
      waiver under this Indenture, the principal amount of a Discount Security that
      shall be deemed to be outstanding for such purposes shall be the amount of
      the
      principal thereof that would be due and payable as of the date of such
      determination upon a declaration of acceleration of the maturity thereof
      pursuant to Section 6.01.

     

    SECTION
      8.02.    Subject
      to the provisions of Section 7.01, proof of the execution of any instrument
      by a
      Securityholder (such proof will not require notarization) or his agent or proxy
      and proof of the holding by any person of any of the Securities shall be
      sufficient if made in the following manner:

     

    (a)  The
      fact
      and date of the execution by any such person of any instrument may be proved
      in
      any reasonable manner acceptable to the Trustee.

     

    (b)  The
      ownership of Securities shall be proved by the Security Register of such
      Securities or by a certificate of the Security Registrar thereof.

     

    (c)  The
      Trustee may require such additional proof of any matter referred to in this
      Section as it shall deem necessary.

     

    SECTION
      8.03.    Prior
      to
      the due presentment for registration of transfer of any Security, the Company,
      the Trustee, any paying agent and any Security Registrar may deem and treat
      the
      person in whose name such Security shall be registered upon the books of the
      Company as the absolute owner of such Security (whether or not such Security
      shall be overdue and notwithstanding any notice of ownership or writing thereon
      made by anyone other than the Security Registrar) for the purpose of receiving
      payment of or on account of the principal of and premium, if any, and (subject
      to Section 2.03) interest on such Security and for all other purposes; and
      neither the Company nor the Trustee nor any paying agent nor any Security
      Registrar shall be affected by any notice to the contrary.

     

    SECTION
      8.04.    In
      determining whether the holders of the requisite aggregate principal amount
      of
      Securities of a particular series have concurred in any direction, consent
      or
      waiver under this Indenture, Securities of that series which are owned by the
      Company or any other obligor on the Securities of that series or by any person
      directly or indirectly controlling or controlled by or under common control
      with
      the Company or any other obligor on the Securities of that series shall be
      disregarded and deemed not to be outstanding for the purpose of any such
      determination, except that for the purpose of determining whether the Trustee
      shall be protected in relying on any such direction, consent or waiver, only
      Securities of such series which the Trustee actually knows are so owned shall
      be
      so disregarded. Securities so owned which have been pledged in good faith may
      be
      regarded as outstanding for the purposes of this Section, if the pledgee shall
      establish to the satisfaction of the Trustee the pledgee’s right so to act with
      respect to such Securities and that the pledgee is not a person directly or
      indirectly controlling or controlled by or under direct or indirect common
      control with the Company or any such other obligor. In 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.

     

    SECTION
      8.05.    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 majority or
      percentage in aggregate principal amount of the Securities of a particular
      series specified in this Indenture in connection with such action, any holder
      of
      a Security of that series which is shown by the evidence to be included in
      the
      Securities the holders of which have consented to such action may, by filing
      written notice with the Trustee, and upon proof of holding as provided in
      Section 8.02, revoke such action so far as concerns such Security. Except as
      aforesaid any such action taken by the holder of any Security shall be
      conclusive and binding upon such holder and upon all future holders and owners
      of such Security, and of any Security issued in exchange therefor, on
      registration of transfer thereof or in place thereof, irrespective of whether
      or
      not any notation in regard thereto is made upon such Security. Any action taken
      by the holders of the majority or percentage in aggregate principal amount
      of
      the Securities of a particular series specified in this Indenture in connection
      with such action shall be conclusively binding upon the Company, the Trustee
      and
      the holders of all the Securities of that series.

     

    ARTICLE
      NINE 

    SUPPLEMENTAL
      INDENTURES

     

    SECTION
      9.01.    In
      addition to any supplemental indenture otherwise authorized by this Indenture,
      the Company, when authorized by a Board Resolution, and the Trustee may from
      time to time and at any time enter into an indenture or indentures supplemental
      hereto (which shall conform to the provisions of the Trust Indenture Act as
      then
      in effect), without the consent of the Securityholders, for one or more of
      the
      following purposes: 

     

    (a)  to
      evidence the succession of another person to the Company, and the assumption
      by
      any such successor of the covenants of the Company contained herein or otherwise
      established with respect to the Securities; or

     

    (b)  to
      add to
      the covenants of the Company such further covenants, restrictions, conditions
      or
      provisions for the protection of the holders of the Securities of all or any
      series, and to make the occurrence, or the occurrence and continuance, of a
      default in any of such additional covenants, restrictions, conditions or
      provisions a default or an Event of Default with respect to such series
      permitting the enforcement of all or any of the several remedies provided in
      this Indenture as herein set forth; provided, however, that in respect of any
      such additional covenant, restriction, condition or provision such supplemental
      indenture may provide for a particular period of grace after default (which
      period may be shorter or longer than that allowed in the case of other defaults)
      or may provide for an immediate enforcement upon such default or may limit
      the
      remedies available to the Trustee upon such default or may limit the right
      of
      the holders of a majority in aggregate principal amount of the Securities of
      such series to waive such default; or

     

    (c)  to
      cure
      any ambiguity or to correct or supplement any provision contained herein or
      in
      any supplemental indenture which may be defective or inconsistent with any
      other
      provision contained herein or in any supplemental indenture, or to make such
      other provisions in regard to matters or questions arising under this Indenture
      as shall not be inconsistent with the provisions of this Indenture and shall
      not
      adversely affect the interests of the holders of the Securities of any series;
      or

     

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

     

    (e)  to
      establish the form or terms of Securities of any series as permitted by Section
      2.01; or

     

    (f)  to
      add
      any additional Events of Default with respect to all or any series of
      outstanding Securities; or

     

    (g)  to
      provide collateral security for the Securities; or

     

    (h)  to
      provide for the authentication and delivery of bearer securities and coupons
      appertaining thereto representing interest, if any, thereon and for the
      procedures for the registration, exchange and replacement thereof and for the
      giving of notice to, and the solicitation of the vote or consent of, the holders
      thereof, and for any other matters incidental thereto; or

     

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

     

    (j)  to
      change
      any place or places where (1) the principal of and premium, if any, and
      interest, if any, on all or any series of Securities shall be payable, (2)
      all
      or any series of Securities may be surrendered for registration of transfer,
      (3)
      all or any series of Securities may be surrendered for exchange and (4) notices
      and demands to or upon the Company in respect of all or any series of Securities
      and this Indenture may be served; provided, however, that any such place shall
      be located in New York, New York or be the principal office of the Company;
      or

     

    (k)  to
      provide for the payment by the Company of additional amounts in respect of
      certain taxes imposed on certain holders and for the treatment of such
      additional amounts as interest and for all matters incidental thereto;
      or

     

    (l)  to
      provide for the issuance of Securities denominated in a currency other than
      Dollars or in a composite currency and for all matters incidental
      thereto.

     

    Without
      limiting the generality of the foregoing, if the Trust Indenture Act as in
      effect at the date of the execution and delivery of this Indenture or at any
      time thereafter shall be amended and

     

    (x) 
       if
      any
      such amendment shall require one or more changes to any provisions hereof or
      the
      inclusion herein of any additional provisions, or shall by operation of law
      be
      deemed to effect such changes or incorporate such provisions by reference or
      otherwise, this Indenture shall be deemed to have been amended so as to conform
      to such amendment to the Trust Indenture Act, and the Company and the Trustee
      may, without the consent of any Securityholders, enter into a supplemental
      indenture hereto to effect or evidence such changes or additional provisions;
      or

     

    (y)  
      if
      any
      such amendment shall permit one or more changes to, or the elimination of,
      any
      provisions hereof which, at the date of the execution and delivery hereof or
      at
      any time thereafter, are required by the Trust Indenture Act to be contained
      herein, this Indenture shall be deemed to have been amended to effect such
      changes or elimination, and the Company and the Trustee may, without the consent
      of any Securityholders, enter into a supplemental indenture hereto to effect
      such changes or elimination; or

     

    (z)   
      if,
      by
      reason of any such amendment, one or more provisions which, at the date of
      the
      execution and delivery hereof or at any time thereafter, are required by the
      Trust Indenture Act to be contained herein shall be deemed to be incorporated
      herein by reference or otherwise, or otherwise made applicable hereto, and
      shall
      no longer be required to be contained herein, the Company and the Trustee may,
      without the consent of any Securityholders, enter into a supplemental indenture
      hereto to effect the elimination of such provisions.

     

    The
      Trustee is hereby authorized to join with the Company in the execution of any
      such supplemental indenture, and to make any further appropriate agreements
      and
      stipulations which may be therein contained, but the Trustee shall not be
      obligated to enter into any such supplemental indenture which affects the
      Trustee’s own rights, duties or immunities under this Indenture or
      otherwise.

     

    Any
      supplemental indenture authorized by the provisions of this Section may be
      executed by the Company and the Trustee without the consent of the holders
      of
      any of the Securities at the time outstanding, notwithstanding any of the
      provisions of Section 9.02.

     

    SECTION
      9.02.    With
      the
      consent (evidenced as provided in Section 8.01) of the holders of not less
      than
      a majority in aggregate principal amount of the Securities of each series
      affected by such supplemental indenture or indentures at the time outstanding,
      the Company, when authorized by a Board Resolution, and the Trustee may from
      time to time and at any time enter into an indenture or indentures supplemental
      hereto (which shall conform to the provisions of the Trust Indenture Act as
      then
      in effect) for the purpose of adding any provisions to or changing in any manner
      or eliminating any of the provisions of this Indenture or of any supplemental
      indenture or of modifying in any manner the rights of the holders of the
      Securities of such series under this Indenture; provided, however, that no
      such
      supplemental indenture shall (i) extend the fixed maturity of any Securities
      of
      any series, or reduce the principal amount thereof, or reduce the rate or extend
      the time of payment of interest thereon, or reduce any premium payable upon
      the
      redemption thereof, or reduce the amount of the principal of a Discount Security
      that would be due and payable upon a declaration of acceleration of the maturity
      thereof pursuant to Section 6.01, without the consent of the holders of each
      Security then outstanding and affected, (ii) reduce the aforesaid percentage
      of
      Securities, the holders of which are required to consent to any such
      supplemental indenture, or reduce the percentage of Securities, the holders
      of
      which are required to waive any default and its consequences, without the
      consent of the holder of each Security then outstanding and affected thereby,
      or
      (iii) modify any provision of Section 6.01(c) (except to increase the percentage
      of principal amount of securities required to rescind and annul any declaration
      of amounts due and payable under the Securities) without the consent of the
      holders of each Security then outstanding and affected thereby.

     

    Upon
      the
      request of the Company, accompanied by a Board Resolution authorizing the
      execution of any such supplemental indenture, and upon the filing with the
      Trustee of evidence of the consent of Securityholders required to consent
      thereto as aforesaid, the Trustee shall join with the Company 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.

     

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

     

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

     

    Promptly
      after the execution by the Company and the Trustee of any supplemental indenture
      pursuant to the provisions of this Section, the Trustee shall transmit by mail,
      first class postage prepaid, a notice, setting forth in general terms the
      substance of such supplemental indenture, to the Securityholders of all series
      affected thereby as their names and addresses appear upon the Security Register.
      Any failure of the Trustee to mail such notice, or any defect therein, shall
      not, however, in any way impair or affect the validity of any such supplemental
      indenture.

     

    SECTION
      9.03.    Upon
      the
      execution of any supplemental indenture pursuant to the provisions of this
      Article or of Section 10.01, this Indenture shall, with respect to such series,
      be and be deemed to be modified and amended in accordance therewith and the
      respective rights, limitations of rights, obligations, duties and immunities
      under this Indenture of the Trustee, the Company and the holders of Securities
      of the series affected thereby 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.    Securities
      of any series, affected by a supplemental indenture, authenticated and delivered
      after the execution of such supplemental indenture pursuant to the provisions
      of
      this Article, Article Two or Article Seven or of Section 10.01, may bear a
      notation in form approved by the Company, provided such form meets the
      requirements of any exchange upon which such series may be listed, as to any
      matter provided for in such supplemental indenture. If the Company shall so
      determine, new Securities of that series so modified as to conform, in the
      opinion of the Board of Directors, to any modification of this Indenture
      contained in any such supplemental indenture may be prepared by the Company,
      authenticated by the Trustee and delivered in exchange for the Securities of
      that series then outstanding.

     

    SECTION
      9.05.    The
      Trustee, subject to the provisions of Section 7.01, shall be entitled to
      receive, and shall be fully protected in relying upon, an Opinion of Counsel
      as
      conclusive evidence that any supplemental indenture executed pursuant to this
      Article is authorized or permitted by, and conforms to, the terms of this
      Article and that it is proper for the Trustee under the provisions of this
      Article to join in the execution thereof.

     

    ARTICLE
      TEN

    CONSOLIDATION,
      MERGER AND SALE

     

    SECTION
      10.01.    Unless
      a
      Company Order or supplemental indenture establishing a series of Securities
      provides otherwise, nothing contained in this Indenture or in any of the
      Securities shall prevent any consolidation or merger of the Company with or
      into
      any other corporation or corporations (whether or not affiliated with the
      Company), or successive consolidations or mergers in which the Company or its
      successor or successors shall be a party or parties, or shall prevent any sale,
      conveyance, transfer or other disposition of all or substantially all of the
      property of the Company or its successor or successors as an entirety, or
      substantially as an entirety, to any other corporation (whether or not
      affiliated with the Company or its successor or successors) authorized to
      acquire and operate the same; provided, however, the Company hereby covenants
      and agrees that, upon any such consolidation, merger, sale, conveyance, transfer
      or other disposition, the due and punctual payment of the principal of (premium,
      if any) and interest on all of the Securities of all series in accordance with
      the terms of each series, according to their tenor, and the due and punctual
      performance and observance of all the covenants and conditions of this Indenture
      with respect to each series or established with respect to such series pursuant
      to Section 2.01 to be kept or performed by the Company, shall be expressly
      assumed, by supplemental indenture (which shall conform to the provisions of
      the
      Trust Indenture Act as then in effect) satisfactory in form to the Trustee
      executed and delivered to the Trustee by the entity formed by such
      consolidation, or into which the Company shall have been merged, or by the
      entity which shall have acquired such property.

     

    SECTION
      10.02.    Unless
      a
      Company Order or supplemental indenture establishing a series of Securities
      provides otherwise: 

     

    (a)      
      In case of any such consolidation, merger, sale, conveyance, transfer or other
      disposition and upon the assumption by the successor corporation, by
      supplemental indenture, executed and delivered to the Trustee and satisfactory
      in form to the Trustee, of the due and punctual payment of the principal of
      and
      premium, if any, and interest on all of the Securities of all series outstanding
      and the due and punctual performance of all of the covenants and conditions
      of
      this Indenture or established with respect to each series of the Securities
      pursuant to Section 2.01 to be kept or performed by the Company with respect
      to
      each series, such successor corporation shall succeed to and be substituted
      for
      the Company, with the same effect as if it had been named herein as the party
      of
      the first part, and thereupon (provided, that in the case of a lease, the term
      of the lease is at least as long as the longest maturity of any Securities
      outstanding at such time) the predecessor corporation shall be relieved of
      all
      obligations and covenants under this Indenture and the Securities. Such
      successor corporation thereupon may cause to be signed, and may issue either
      in
      its own name or in the name of the Company or any other predecessor obligor
      on
      the Securities, any or all of the Securities issuable hereunder which
      theretofore shall not have been signed by the Company and delivered to the
      Trustee; and, upon the order of such successor company, instead of the Company,
      and subject to all the terms, conditions and limitations in this Indenture
      prescribed, the Trustee shall authenticate and shall deliver any Securities
      which previously shall have been signed and delivered by the officers of the
      predecessor Company to the Trustee for authentication, and any Securities which
      such successor corporation thereafter shall cause to be signed and delivered
      to
      the Trustee for that purpose. All the Securities so issued shall in all respects
      have the same legal rank and benefit under this Indenture as the Securities
      theretofore or thereafter issued in accordance with the terms of this Indenture
      as though all of such Securities had been issued at the date of the execution
      hereof.

     

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

     

    (c)  Nothing
      contained in this Indenture or in any of the Securities shall prevent the
      Company from merging into itself or acquiring by purchase or otherwise all
      or
      any part of the property of any other corporation (whether or not affiliated
      with the Company).

     

    SECTION
      10.03.    The
      Trustee, subject to the provisions of Section 7.01, may receive an Opinion
      of
      Counsel as conclusive evidence that any such consolidation, merger, sale,
      conveyance, transfer or other disposition, and any such assumption, comply
      with
      the provisions of this Article.

     

     

    ARTICLE
      ELEVEN  

    DEFEASANCE
      AND CONDITIONS TO DEFEASANCE; UNCLAIMED MONIES

     

    SECTION
      11.01.    Securities
      of a series may be defeased in accordance with their terms and, unless the
      Company Order or supplemental indenture establishing the series otherwise
      provides, in accordance with this Article.

     

    The
      Company at any time may terminate as to a series all of its obligations for
      such
      series under this Indenture (“legal defeasance option”). The Company at any time
      may terminate as to a series its obligations, if any, under any restrictive
      covenant which may be applicable to a particular series (“covenant defeasance
      option”). However, in the case of the legal defeasance option, the Company’s
      obligations in Sections 2.05, 2.07, 4.02, 7.06, 7.10 and 11.04 shall survive
      until the Securities of the series are no longer outstanding; thereafter the
      Company’s obligations in Sections 7.06, 7.10 and 11.04 shall
      survive.

     

    The
      Company may exercise its legal defeasance option notwithstanding its prior
      exercise of its covenant defeasance option. If the Company exercises its legal
      defeasance option, a series may not be accelerated because of an Event of
      Default. If the Company exercises its covenant defeasance option, a series
      may
      not be accelerated by reference to any restrictive covenant which may be
      applicable to a particular series so defeased under the terms of the
      series.

     

    The
      Trustee, upon request of and at the cost and expense of the Company, shall,
      subject to compliance with Section 13.06, acknowledge in writing the discharge
      of those obligations that the Company terminates.

     

    The
      Company may exercise as to a series its legal defeasance option or its covenant
      defeasance option if:

     

    (1)  The
      Company irrevocably deposits in trust with the Trustee or another trustee (x)
      money in an amount which shall be sufficient; or (y) Eligible Obligations the
      principal of and the interest on which when due, without regard to reinvestment
      thereof, will provide moneys, which, together with the money, if any, deposited
      or held by the Trustee or such other trustee, shall be sufficient; or (z) a
      combination of money and Eligible Obligations which shall be sufficient, to
      pay
      the principal of and premium, if any, and interest, if any, due and to become
      due on such Securities on or prior to maturity;

     

    (2)  the
      Company delivers to the Trustee a Certificate to the effect that the
      requirements set forth in clause (1) above have been satisfied;

     

    (3)  immediately
      after the deposit no Default exists; and

     

    (4)  the
      Company delivers to the Trustee an Opinion of Counsel to the effect that holders
      of the series will not recognize income, gain or loss for Federal income tax
      purposes as a result of the defeasance but will realize income, gain or loss
      on
      the Securities, including payments of interest thereon, in the same amounts
      and
      in the same manner and at the same time as would have been the case if such
      defeasance had not occurred and which, in the case of legal defeasance, shall
      be
      (x) accompanied by a ruling of the Internal Revenue Service issued to the
      Company or (y) based on a change in law or regulation occurring after the date
      hereof; and

     

    (5)  the
      deposit specified in paragraph (1) above shall not result in the Company, the
      Trustee or the trust created in connection with such defeasance being deemed
      an
“investment company” under the Investment Company Act of 1940, as
      amended.

     

    In
      the
      event the Company exercises its option to effect a covenant defeasance with
      respect to the Securities of any series as described above and the Securities
      of
      that series are thereafter declared due and payable because of the occurrence
      of
      any Event of Default other than the Event of Default caused by failing to comply
      with the covenants which are defeased, the amount of money and securities on
      deposit with the Trustee may not be sufficient to pay amounts due on the
      Securities of that series at the time of the acceleration resulting from such
      Event of Default. However, the Company shall remain liable for such
      payments.

     

    SECTION
      11.02.    All
      monies or Eligible Obligations deposited with the Trustee pursuant to Section
      11.01 shall be held in trust and shall be available for payment as due, either
      directly or through any paying agent (including the Company acting as its own
      paying agent), to the holders of the particular series of Securities for the
      payment or redemption of which such monies or Eligible Obligations have been
      deposited with the Trustee.

     

    SECTION
      11.03.    In
      connection with the satisfaction and discharge of this Indenture all monies
      or
      Eligible Obligations then held by any paying agent under the provisions of
      this
      Indenture shall, upon demand of the Company, be paid to the Trustee and
      thereupon such paying agent shall be released from all further liability with
      respect to such monies or Eligible Obligations.

     

    SECTION
      11.04.    Any
      monies or Eligible Obligations deposited with any paying agent or the Trustee,
      or then held by the Company, in trust for payment of principal of or premium
      or
      interest on the Securities of a particular series that are not applied but
      remain unclaimed by the holders of such Securities for at least two years after
      the date upon which the principal of (and premium, if any) or interest on such
      Securities shall have respectively become due and payable, upon the written
      request of the Company and unless otherwise required by mandatory provisions
      of
      applicable escheat or abandoned or unclaimed property law, shall be repaid
      to
      the Company on May 31 of each year or (if then held by the Company) shall be
      discharged from such trust; and thereupon the paying agent and the Trustee
      shall
      be released from all further liability with respect to such monies or Eligible
      Obligations, and the holder of any of the Securities entitled to receive such
      payment shall thereafter, as an unsecured general creditor, look only to the
      Company for the payment thereof.

     

    SECTION
      11.05.    In
      connection with any satisfaction and discharge of this Indenture pursuant to
      this Article Eleven, the Company shall deliver to the Trustee an Officers’
      Certificate and an Opinion of Counsel to the effect that all conditions
      precedent in this Indenture provided for relating to such satisfaction and
      discharge have been complied with.

     

    ARTICLE
      TWELVE 

    IMMUNITY
      OF INCORPORATORS, STOCKHOLDERS, OFFICERS 

    AND
      DIRECTORS

     

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

     

     

    ARTICLE
      THIRTEEN  

    MISCELLANEOUS
      PROVISIONS

     

    SECTION
      13.01.    All
      the
      covenants, stipulations, promises and agreements in this Indenture contained
      by
      or on behalf of the Company shall bind its successors and assigns, whether
      so
      expressed or not.

     

    SECTION
      13.02.    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 Company shall and
      may be done and performed with like force and effect by the corresponding board,
      committee or officer of any corporation that shall at the time be the lawful
      sole successor of the Company.

     

    SECTION
      13.03.    The
      Company by instrument in writing executed by authority of two-thirds of its
      Board of Directors and delivered to the Trustee may surrender any of the powers
      reserved to the Company under this Indenture and thereupon such power so
      surrendered shall terminate both as to the Company and as to any successor
      corporation.

     

    SECTION
      13.04.    Except
      as
      otherwise expressly provided herein 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 Securities to or on the Company may be given or served
      by
      being deposited first class postage prepaid in a post office letter box
      addressed (until another address is filed in writing by the Company with the
      Trustee), as follows: Ohio Power Company, 1 Riverside Plaza, Columbus, Ohio
      43215, Attention: Treasurer. Any notice, election, request or demand by the
      Company or any Securityholder to or upon the Trustee shall be deemed to have
      been sufficiently given or made, for all purposes, if given or made in writing
      at the Corporate Trust Office of the Trustee.

     

    SECTION
      13.05.    This
      Indenture and each Security shall be deemed to be a contract made under the
      laws
      of the State of New York, and for all purposes shall be construed in accordance
      with the laws of said State. 

     

    SECTION
      13.06.     (a)
      Upon any
      application or demand by the Company to the Trustee to take any action under
      any
      of the provisions of this Indenture, the Company shall furnish to the Trustee
      an
      Officers’ Certificate stating that all conditions precedent provided for in this
      Indenture relating to the proposed action have been complied with and an Opinion
      of Counsel stating that in the opinion of such counsel all such conditions
      precedent have been complied with, except that in the case of any such
      application or demand as to which the furnishing of such documents is
      specifically required by any provision of this Indenture relating to such
      particular application or demand, no additional certificate or opinion need
      be
      furnished.

     

    (b)  Each
      certificate or opinion provided for in this Indenture and delivered to the
      Trustee with respect to compliance with a condition or covenant in this
      Indenture (other than the certificate provided pursuant to Section 5.03(d)
      of
      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 statements or opinions contained in such certificate or opinion are
      based; (3) a statement that, in the opinion of such person, he or she has made
      such examination or investigation as is necessary to enable him or her 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.

     

    SECTION
      13.07.    Except
      as
      provided pursuant to Section 2.01 pursuant to a Company Order, or established
      in
      one or more indentures supplemental to this Indenture, in any case where the
      date of maturity of principal or an Interest Payment Date of any Security or
      the
      date of redemption, purchase or repayment of any Security shall not be a
      Business Day then payment of interest or principal (and premium, if any) may
      be
      made on the next succeeding Business Day with the same force and effect as
      if
      made on the nominal date of maturity or redemption, and no interest shall accrue
      for the period after such nominal date.

     

    SECTION
      13.08.    If
      and to
      the extent that any provision of this Indenture limits, qualifies or conflicts
      with the duties imposed by the Trust Indenture Act, such imposed duties shall
      control.

     

    SECTION
      13.09.    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
      13.10.        In
      case
      any one or more of the provisions contained in this Indenture or in the
      Securities of any series shall for any reason be held to be invalid, illegal
      or
      unenforceable in any respect, such invalidity, illegality or unenforceability
      shall not affect any other provisions of this Indenture or of such Securities,
      but this Indenture and such Securities shall be construed as if such invalid
      or
      illegal or unenforceable provision had never been contained herein or
      therein.

     

    SECTION
      13.11.    The
      Company will have the right at all times to assign any of its rights or
      obligations under the Indenture to a direct or indirect wholly owned subsidiary
      of the Company; provided that, in the event of any such assignment, the Company
      will remain liable for all such obligations. Subject to the foregoing, this
      Indenture is binding upon and inures to the benefit of the parties thereto
      and
      their respective successors and assigns. This Indenture may not otherwise be
      assigned by the parties thereto.

     

    SECTION
      13.12.    The
      Article and Section Headings in this Indenture and the Table of Contents are
      for
      convenience only and shall not affect the construction hereof.

     

    SECTION
      13.13.    Whenever
      this Indenture provides for any action by, or the determination of any rights
      of, holders of Securities of any series in which not all of such Securities
      are
      denominated in the same currency, in the absence of any provision to the
      contrary in the form of Security of any particular series, any amount in respect
      of any Security denominated in a currency other than Dollars shall be treated
      for any such action or determination of rights as that amount of Dollars that
      could be obtained for such amount on such reasonable basis of exchange and
      as of
      the record date with respect to Securities of such series (if any) for such
      action or determination of rights (or, if there shall be no applicable record
      date, such other date reasonably proximate to the date of such action or
      determination of rights) as the Company may specify in a written notice to
      the
      Trustee or, in the absence of such written notice, as the Trustee may
      determine.

    

    Bank
      One,
      N.A., as Trustee, hereby accepts the trusts in this Indenture declared and
      provided, upon the terms and conditions hereinabove set forth.

     

    IN
      WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly
      executed, and their respective corporate seals to be hereunto affixed and
      attested, all as of the day and year first above written.

     

     

    COLUMBUS
      SOUTHERN POWER COMPANY

     

    By_/s/
      G. S. Chatas_____

    Assistant
      Treasurer

         
      Attest:

     

    By_/s/
      T. G. Berkemeyer

               
      Assistant Secretary

     

     

    BANK
      ONE,
      N. A.,

                                                                            as
      Trustee

     

                                                                            By_/s/
      Jeffery L. Eubank__

                                                                                   Vice
      President

     

    Attest:

     

    By_/s/
      David B. Knox__

               
      Trust OfficerExhibit 4(f) - CSPCo First Supplemental Indenture, 2/1/2003 Series A and C

    Exhibit
      4(f)

       

      

       

      COLUMBUS
        SOUTHERN POWER COMPANY

       

      TO

       

      BANK
        ONE, N.A.

       

      AS
        TRUSTEE.

       

      

       

      

       

      

       

      FIRST
        SUPPLEMENTAL INDENTURE

       

      DATED
        AS OF FEBRUARY 1, 2003

       

      

       

      

       

      

       

      $250,000,000

       

      5.50%
        SENIOR NOTES, SERIES A DUE 2013

       

      5.50%
        SENIOR NOTES, SERIES C DUE 2013

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      TABLE
        OF
        CONTENTS*  

       

      
        
          
            	
                    ARTICLE
                      I Additional Definitions

                  	
                     2

                  
	 	
                    SECTION
                      1.01.   Definitions

                  	
                     2

                  
	
                    ARTICLE
                      II 2013 Notes

                  	
                     4

                  
	 	
                    SECTION
                      2.01.   Establishment

                  	
                     4

                  
	 	
                    SECTION
                      2.02.   Aggregate Principal Amount

                  	
                     4

                  
	 	
                    SECTION
                      2.03.   Maturity and Interest

                  	
                     4

                  
	 	
                    SECTION
                      2.04.   Optional Redemption

                  	
                     5

                  
	 	
                    SECTION
                      2.05.   Limitation on Secured Debt.

                  	
                     6

                  
	 	
                    SECTION
                      2.06.   Global Securities and Certificated
                      Securities

                  	
                     6

                  
	 	
                    SECTION
                      2.07.   Form of Securities

                  	
                     8

                  
	 	
                    SECTION
                      2.08.   Transfer and Exchange

                  	
                     8

                  
	
                    ARTICLE
                      III Miscellaneous Provisions

                  	
                     13

                  
	 	
                    SECTION
                      3.01.   Recitals by Company

                  	
                     13

                  
	 	
                    SECTION
                      3.02.   Ratification and Incorporation of Original
                      Indenture

                  	
                     13

                  
	 	
                    SECTION
                      3.03.   Executed in Counterparts

                  	
                     13

                  
	 	
                    SECTION
                      3.04.   Legends

                  	
                     13

                  
	 	
                    SECTION
                      3.05.   Applicability of Section 4.05 and Article
                      Ten of
                      Original Indenture

                  	
                     13

                  

          

        

      

      

      

        

        
          * 
            This Table of Contents does not constitute part of the Indenture or have
            any
            bearing upon the interpretation of any of its terms and
            provisions.

           

        

      

      THIS
        FIRST SUPPLEMENTAL INDENTURE is made as of the 1st
        day of
        February, 2003, between COLUMBUS SOUTHERN POWER COMPANY, a corporation duly
        organized and existing under the laws of the state of Ohio (herein called
        the
“Company”), having its principal office at 1 Riverside Plaza, Columbus, Ohio
        43215 and Bank One, N.A., a national banking association, duly organized
        and
        existing under the laws of the United States, having its principal corporate
        trust office at 1111 Polaris Parkway, Columbus, Ohio 43240, as Trustee (herein
        called the “Trustee”).

       

      W
        I T N E
        S S E T H:

       

      WHEREAS,
        the Company has heretofore entered into an Indenture, dated as of February
        1,
        2003 (the “Original Indenture”), with the Trustee;

       

      WHEREAS,
        the Original Indenture is incorporated herein by this reference and the Original
        Indenture, as supplemented by this First Supplemental Indenture, is herein
        called the “Indenture”;

       

      WHEREAS,
        under the Original Indenture, a new series of unsecured notes (the “Senior
        Notes”) may at any time be established by the Board of Directors of the Company
        in accordance with the provisions of the Original Indenture and the terms
        of
        such series may be described by a supplemental indenture executed by the
        Company
        and the Trustee;

       

      WHEREAS,
        the Company proposes to create under the Indenture a series of Senior Notes
        to
        be designated the “5.50% Senior Notes, Series A due 2013” (the “Series A Notes”)
        and a series of Senior Notes to be designated the “5.50% Senior Notes, Series C
        due 2013” (the “Series C Notes”; and together with the Series A Notes the “2013
        Notes”), the form and substance of the 2013 Notes and the terms, provisions and
        conditions thereof to be set forth as provided in the Original Indenture
        and
        this First Supplemental Indenture;

       

      WHEREAS,
        concurrently with the issuance of the Series A Notes, the Company proposes
        to
        create under the Indenture a series of Senior Notes to be designated the
“6.60%
        Series Notes Series B, due 2033” (the “Series B Notes”) and a series of Senior
        Notes to be designated the “6.60% Senior Notes, Series D, due 2033” (the “Series
        D Notes”; and together with the Series B Notes, the “2033 Notes”), the form and
        substance of the 2033 Notes and the terms, provisions and conditions thereof
        to
        be set forth as provided in the Original Indenture and the Second Supplemental
        Indenture;

       

      WHEREAS,
        additional Senior Notes of other series hereafter established, except as
        may be
        limited in the Original Indenture as at the time supplemented and modified,
        may
        be issued from time to time pursuant to the Indenture as at the time
        supplemented and modified; and

       

      WHEREAS,
        all conditions necessary to authorize the execution and delivery of this
        First
        Supplemental Indenture and to make it a valid and binding obligation of the
        Company have been done or performed.

       

      NOW,
        THEREFORE, in consideration of the agreements and obligations set forth herein
        and for other good and valuable consideration, the sufficiency of which is
        hereby acknowledged, the parties hereto hereby agree as follows:

       

       

      ARTICLE
        I

       

      Additional
        Definitions

       

      SECTION
        1.01.    Definitions

       

      The
        following defined terms used herein shall, unless the context otherwise
        requires, have the meanings specified below. Capitalized terms used herein
        for
        which no definition is provided herein shall have the meanings set forth
        in the
        Original Indenture.

       

      “Clearstream”
        means Clearstream Banking, société anonyme, or any successor securities clearing
        agency.

       

      “Distribution
        Compliance Period,” with respect to the 2013 Notes, means the period of 40
        consecutive days beginning on and including the later of (i) the day on which
        such 2013 Notes are first offered to Persons other than distributors (as
        defined
        in Regulation S under the Securities Act) in reliance on Regulation S and
        (ii)
        the Original Issue Date.

       

      “DTC”
        means The Depository Trust Company, the initial Clearing Agency.

       

      “Euroclear”
        means Euroclear Bank S.A./N.V., as operator of the Euroclear System or any
        successor securities clearing agency.

       

      “Exchange
        Act” means the Securities Exchange Act of 1934, as amended.

       

      “Exchange
        Offer Registration Statement” shall have the meaning assigned to it in the
        Registration Rights Agreement.

       

      “Global
        Securities” means global certificates representing the 2013 Notes as described
        in Section 204.

       

      “Holder”
        means a registered holder of a 2013 Note.

       

      “Institutional
        Accredited Investor” has the meaning set forth in Section 2.04(a)
        hereof.

       

      “Columbus
        Southern Wires Exchange Offer” shall have the meaning assigned to it in the
        Registration Rights Agreement.

       

      “Columbus
        Southern Wires Notes” shall have the meaning assigned to it in the Registration
        Rights Agreement.

       

      “Original
        Issue Date” means February 14, 2003.

       

      “Owner”
        means each Person who is the beneficial owner of a Global Security as reflected
        in the records of the Depository or, if a Depository participant is not the
        Owner, then as reflected in the records of a Person maintaining an account
        with
        such Depository (directly or indirectly, in accordance with the rules of
        such
        Depository).

       

      “Permanent
        Regulation S Global Security” has the meaning set forth in Section
        2.04(b).

       

      “QIBs”
        means qualified institutional buyers as defined in Rule 144A.

       

      “Registered
        Exchange Offer” shall have the meaning assigned to Exchange Offer in the
        Registration Rights Agreement

       

      “Registration
        Rights Agreement” means the Registration Rights Agreement, dated as of
        February 1, 2003 among the Company and the Initial Purchasers named
        therein, relating to the registration of the 2013 Notes and the 2033 Notes
        under
        the Securities Act. 

       

      “Regulation
        S” means Regulation S under the Securities Act and any successor regulation
        thereto.

       

      “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
        Securities and Exchange Commission.

       

      “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
        Securities and Exchange Commission.

       

      “Rule
        144A Global Security” means any Series A Note that is to be traded pursuant
        to Rule 144A.

       

      “Securities
        Act” means the Securities Act of 1933, as amended from time to time, or any
        successor legislation.

       

      “Securities
        Custodian” means the custodian with respect to a Global Security (as appointed
        by the Depository), or any successor Person thereto and shall initially be
        the
        Trustee.

       

      “Shelf
        Registration Statement” shall have the meaning assigned to it in the
        Registration Rights Agreement.

       

      “Special
        Interest Premium” shall have the meaning assigned to it in the Registration
        Rights Agreement.

       

      “Stated
        Maturity” means March 1, 2013.

       

      “Subsidiary”
        means any corporation or other entity of which sufficient voting stock or
        other
        ownership or economic interests having ordinary voting power to elect a majority
        of the board of directors (or equivalent body) are at the time directly or
        indirectly held by the Company.

       

      “Temporary
        Regulation S Global Security” has the meaning set forth in Section
        2.04(b).

       

      “Transfer
        Restricted Security” shall have the meaning assigned to Registrable Note in the
        Registration Rights Agreement.

       

      “Transmission
        and Distribution Business” has the meaning set forth in Section
        3.05(a).

       

      ARTICLE
        II  

      2013
        Notes

       

      SECTION
        2.01.    Establishment. 
        The
        Series A Notes shall be designated as the Company’s “5.50% Senior Notes, Series
        A due 2013” and the Series C Notes shall be designated as the Company’s “5.50%
        Senior Notes, Series C due 2013”. The Series A Notes and the Series C Notes
        shall be treated for all purposes under the Indenture as a single class or
        series of Senior Notes.

       

      SECTION
        2.02.    Aggregate
        Principal Amount. 
        The
        Trustee shall authenticate and deliver (i) Series A Notes for original issue
        on
        the Original Issue Date in the aggregate principal amount of $250,000,000
        and
        (ii) Series C Notes from time to time thereafter for issue only in exchange
        for
        Series A Notes pursuant to the Exchange Offer Registration Statement in
        accordance with the Registration Rights Agreement or pursuant to the Shelf
        Registration Statement in accordance with the Registration Rights Agreement,
        in
        each case upon a Company Order for authentication and delivery thereof and
        satisfaction of Section 2.01 of the Original Indenture. The aggregate principal
        amount of the 2013 Notes shall be initially limited to $250,000,000 and shall
        be
        subject to Periodic Offerings pursuant to Article Two of the Original Indenture.
        All 2013 Notes need not be issued at the same time and such series may be
        reopened at any time, without the consent of any Holder, for issuances of
        additional 2013 Notes. Any such additional 2013 Notes will have the same
        interest rate, maturity and other terms as those initially issued. The Series
        A
        Notes shall be issued in definitive fully registered form.

       

      SECTION
        2.03.    Maturity
        and Interest(i) The
        2013
        Notes shall mature on, and the date on which the principal of the 2013 Notes
        shall be payable (unless earlier redeemed) shall be, March 1,
        2013;

       

      (ii)  the
        interest rate at which the 2013 Notes shall bear interest shall be 5.50%
        per annum; provided, however, that the Special Interest Premium shall accrue
        on
        the 2013 Notes under certain circumstances as provided in clause (iii) below;
        interest shall accrue from the date of authentication of the 2013 Notes;
        the
        Interest Payment Dates on which such interest will be payable shall be
        March 1 and September 1, and the Regular Record Date for the determination
        of holders to whom interest is payable on any such Interest Payment Date
        shall
        be the February 15 or August 15 preceding the relevant Interest Payment Date;
        provided that the first Interest Payment Date shall be September 1, 2003
        and
        interest payable on the Stated Maturity or any redemption date shall be paid
        to
        the Person to whom principal shall be paid; each payment of interest shall
        include interest accrued through the day before the Interest Payment
        Date;

                                          (iii)  Special
        Interest Premium shall accrue (a) on the Transfer Restricted Securities over
        and
        above the interest rate set forth herein in accordance with Section
        2(e) of
        the Registration Rights Agreement and (b) on the 2013 Notes over and above
        the
        interest rate set forth herein in accordance with Section 7(d) or 7(e), as
        the
        case may be, of the Registration Rights Agreement.

       

      SECTION
        2.04.    Optional
        Redemption 
        The 2013 Notes shall be redeemable at the option of the Company, in whole
        at any
        time or in part from time to time, upon not less than thirty but not more
        than
        sixty days’ previous notice given by mail to the registered owners of the Notes
        at a redemption price equal to the greater of (i) 100% of the principal amount
        of the 2013 Notes being redeemed and (ii) the sum of the present values of
        the
        remaining scheduled payments of principal and interest on the 2013 Notes
        being
        redeemed (excluding the portion of any such interest accrued to the date
        of
        redemption) discounted (for purposes of determining present value) to the
        redemption date on a semi-annual basis (assuming a 360-day year consisting
        of
        twelve 30-day months) at the Treasury Rate (as defined below) plus 25 basis
        points, plus, accrued interest thereon to the date of redemption.

       

      “Treasury
        Rate” means, with respect to any redemption date, the rate per annum equal to
        the semi-annual equivalent yield to maturity of the Comparable Treasury Issue,
        assuming a price for the Comparable Treasury Issue (expressed as a percentage
        of
        its principal amount) equal to the Comparable Treasury Price for such redemption
        date.

       

      “Comparable
        Treasury Issue” means the United States Treasury security selected by an
        Independent Investment Banker as having a maturity comparable to the remaining
        term of the 2013 Notes that would be utilized, at the time of selection and
        in
        accordance with customary financial practice, in pricing new issues of corporate
        debt securities of comparable maturity to the remaining term of the 2013
        Notes.

       

      “Comparable
        Treasury Price” means, with respect to any redemption date, (i) the average of
        the bid and asked prices for the Comparable Treasury Issue (expressed in
        each
        case as a percentage of its principal amount) on the third Business Day
        preceding such redemption date, as set forth in the daily statistical release
        (or any successor release) published by the Federal Reserve Bank of New York
        and
        designated “Composite 3:30 p.m. Quotations for U. S. Government Securities” or
        (ii) if such release (or any successor release) is not published or does
        not
        contain such prices on such third Business Day, the Reference Treasury Dealer
        Quotation for such redemption date.

       

      “Independent
        Investment Banker” means one of the Reference Treasury Dealers appointed by the
        Company and reasonably acceptable to the Trustee.

       

      “Reference
        Treasury Dealer” means a primary U.S. government securities dealer selected by
        the Company and reasonably acceptable to the Trustee.

       

      “Reference
        Treasury Dealer Quotation” means, with respect to the Reference Treasury Dealer
        and any redemption date, the average, as determined by the Trustee, of the
        bid
        and asked prices for the Comparable Treasury Issue (expressed in each case
        as a
        percentage of its principal amount) quoted in writing to the Trustee by such
        Reference Treasury Dealer at or before 5:00 p.m., New York City time, on
        the
        third Business Day preceding such redemption date.

       

      SECTION
        2.05.    Limitation
        on Secured Debt 
        So
        long as any of the 2013 Notes are outstanding, the Company shall not create
        or
        suffer to be created or to exist or permit any of its Subsidiaries to create
        or
        permit or suffer to be created or exist any additional mortgage, pledge,
        security interest, or other lien (collectively “Liens”) on any utility
        properties or tangible assets now owned or hereafter acquired by the Company
        or
        its Subsidiaries to secure any indebtedness for borrowed money (“Secured Debt”),
        without providing that such 2013 Notes will be similarly secured. Further,
        this
        restriction on Secured Debt does not apply to the Company’s existing first
        mortgage bonds that have previously been issued under its mortgage indenture
        or
        any indenture supplemental thereto; provided that this restriction will apply
        to
        future issuances thereunder (other than issuances of refunding first mortgage
        bonds). In addition, this restriction does not prevent the creation or existence
        of:

       

      
        	·          	
                Liens
                  on property existing at the time of acquisition or construction
                  of such
                  property (or created within one year after completion of such acquisition
                  or construction), whether by purchase, merger, construction or
                  otherwise,
                  or to secure the payment of all or any part of the purchase price
                  or
                  construction cost thereof, including the extension of any Liens
                  to
                  repairs, renewals, replacements, substitutions, betterments, additions,
                  extensions and improvements then or thereafter made on the property
                  subject thereto;

              

      

       

      
        	·       
                  	
                Financing
                  of the Company’s accounts receivable for electric
                  service;

              

      

       

      
        	·        
                 	
                Any
                  extensions, renewals or replacements (or successive extensions,
                  renewals
                  or replacements), in whole or in part, of Liens permitted by the
                  foregoing
                  clauses; and

              

      

       

      
        	·       
                  	
                The
                  pledge of any bonds or other securities at any time issued under
                  any of
                  the Secured Debt permitted by the above
                  clauses.

              

      

       

      In
        addition to the permitted issuances above, Secured Debt not otherwise so
        permitted may be issued in an amount that does not exceed 15% of Net Tangible
        Assets as defined below.

       

      “Net
        Tangible Assets” means the total of all assets (including revaluations thereof
        as a result of commercial appraisals, price level restatement or otherwise)
        appearing on the Company’s balance sheet, net of applicable reserves and
        deductions, but excluding goodwill, trade names, trademarks, patents,
        unamortized debt discount, energy trading contracts, regulatory assets, deferred
        charges and all other like intangible assets (which term shall not be construed
        to include such revaluations), less the aggregate of the Company’s current
        liabilities appearing on such balance sheet.

       

      This
        restriction also will not apply to or prevent the creation or existence of
        leases (operating or capital) made, or existing on property acquired, in
        the
        ordinary course of business.

       

      SECTION
        2.06.    Global
        Securities and Certificated Securities.
        

       

      (a)  General.
        The
        Series A Notes will be resold initially only to (i) QIBs in reliance on Rule
        144A under the Securities Act (“Rule 144A”), (ii) institutional “accredited
        investors” as such term is defined in rule 501(a)(1), (2),(3) and (7) of
        Regulation D under the Securities Act (each, an “Institutional Accredited
        Investor”) and (iii) Persons other than U.S. Persons (as defined in Regulation
        S) in reliance on Regulation S under the Securities Act (“Regulation S”). Series
        A Notes may thereafter be transferred to, among others, QIBs, purchasers
        in
        reliance on Regulation S, and Institutional Accredited Investors in each
        case,
        subject to the restrictions on transfer set forth herein.

       

       (b)  Global
        Securities.

       

      (i)  Form.
        Series
        A Notes initially resold pursuant to Rule 144A shall be issued initially
        in the
        form of one or more permanent Global Securities in definitive, fully registered
        form (collectively, the “Rule 144A Global Security”) and Series A Notes
        initially resold pursuant to Regulation S and shall be issued initially in
        the
        form of one or more temporary global securities in definitive, fully registered
        form (collectively, the “Temporary Regulation S Global Security”), in each case
        without interest coupons and with the global securities legend and restricted
        securities legend set forth in Exhibit A hereto, which shall be deposited
        on
        behalf of the purchasers of the Series A Notes represented thereby with the
        Securities Custodian, and registered in the name of the Depository or a nominee
        of the Depository, duly executed by the Company and authenticated by the
        Trustee
        as provided in the Indenture. Except as set forth in this Section 2.06,
        beneficial ownership interests in the Temporary Regulation S Global Security
        (x)
        will not be exchangeable for interests in the Rule 144A Global Security,
        the
        permanent global security (the “Permanent Regulation S Global Security”), or any
        other security without a legend containing restrictions on transfer of such
        security prior to the expiration of the Distribution Compliance Period and
        (y)
        then may be exchanged for interests in a Rule 144A Global Security or the
        Permanent Regulation S Global Security only upon certification that beneficial
        ownership interests in such Temporary Regulation S Global Security are owned
        either by non-U.S. persons or U.S. persons who purchased such interests in
        a
        transaction that did not require registration under the Securities
        Act.

       

      The
        Rule
        144A Global Security, the Temporary Regulation S Global Security and the
        Permanent Regulation S Global Security are collectively referred to herein
        as
“Global Securities”. The aggregate principal amount of the Global Securities may
        from time to time be increased or decreased by adjustments made on the records
        of the Trustee and the Depository or its nominee as hereinafter
        provided.

       

      (ii)  Book-Entry
        Provisions.
        This
        Section shall apply only to a Global Security deposited with or on behalf
        of the
        Depository. The Company shall execute and the Trustee shall, in accordance
        with
        this Section 2.06(b)(ii), authenticate and deliver initially one or more
        Global
        Securities that (a) shall be registered in the name of the Depository for
        such
        Global Security or Global Securities or the nominee of such Depository and
        (b)
        shall be delivered by the Trustee to such Depository or pursuant to such
        Depository’s instructions or held by the Trustee as custodian for the
        Depository.

       

      Members
        of, or participants in, the Depository (“Agent Members”) shall have no rights
        under this Indenture with respect to any Global Security held on their behalf
        by
        the Depository or by the Trustee as the custodian of the Depository or under
        such Global Security, and the Company, the Trustee and any agent of the Company
        or the Trustee shall be entitled to treat the Depository as the absolute
        owner
        of such Global Security for all purposes whatsoever. Notwithstanding the
        foregoing, nothing herein shall prevent the Company, the Trustee or any agent
        of
        the Company or the Trustee from giving effect to any written certification,
        proxy or other authorization furnished by the Depository or impair, as between
        the Depository and its Agent Members, the operation of customary practices
        of
        such Depository governing the exercise of the rights of a holder of a beneficial
        interest in any Global Security.

       

      To
        the
        extent a notice or other communication to the beneficial owners of the 2013
        Notes is required under the Indenture, unless and until Certificated Securities
        shall have been issued to such owners, the Trustee shall give all such notices
        and communications specified herein to be given to such owners to the
        Depository, and shall have no obligations to such Owners.

       

                                        
        (c)  Certificated
        Securities.
        Series
        A Notes sold to Institutional Accredited Investors shall be issued initially
        in
        the form of
        a
fully  registered,
        certificated Series
        A Note (“Certificated Securities”). Except as provided in this Section 2.06,
        owners of beneficial interests
        in Global Securities
        shall not be entitled to receive physical delivery of Certificated
        Securities.

       

      Global
        Securities shall be exchangeable for Certificated Securities if (i) the
        Depository (x) notifies the Company that it is unwilling or unable to continue
        as Depository for the Global Securities or (y) shall no longer be registered
        or
        in good standing under the Exchange Act, or other applicable statute or
        regulation, and a successor Depository for the Global Securities is not
        appointed by the Company within 90 days after the Company receives such notice
        or becomes aware of such condition. Upon surrender to the Trustee of the
        typewritten certificate or certificates representing the Global Securities
        by
        the Depository, accompanied by registration instructions, the Trustee shall
        execute and authenticate the certificates in accordance with the instructions
        of
        the Depository. Neither the Security Registrar nor the Trustee shall be liable
        for any delay in delivery of such instructions and may conclusively rely
        on, and
        shall be protected in relying on, such instructions. Upon the issuance of
        Certificated Securities, the Trustee shall recognize the Holders of the
        Certificated Securities as Holders. The Certificated Securities shall be
        printed, lithographed or engraved or may be produced in any other manner
        as is
        reasonably acceptable to the Company, as evidenced by the execution thereof
        by
        the Company, and shall bear the legend set forth on Exhibit A hereto unless
        the
        Company informs the Trustee that such legend is no longer required.

       

      SECTION
        2.07.    Form
        of Securities.
        The
        Global Securities and Certificated Securities shall be substantially in the
        form
        attached as Exhibit A thereto.

       

      SECTION
        2.08.    Transfer
        and Exchange.
        

       

      (a)  General.
        The
        2013 Notes may not be transferred except in compliance with the legend contained
        in Exhibit A unless otherwise determined by the Company in accordance with
        applicable law. No service charge will be made for any transfer or exchange
        of
        2013 Notes, but payment will be required of a sum sufficient to cover any
        tax or
        other governmental charge that may be imposed in connection
        therewith.

       

      (b)  Transfer
        and Exchange of Global Securities.

       

      (i)  If
        a
        holder of a beneficial interest in the Rule 144A Global Security wishes at
        any
        time to exchange its interest in the Rule 144A Global Security for an interest
        in the Permanent Regulation S Global Security, or to transfer its interest
        in
        the Rule 144A Global Security to a person who wishes to take delivery thereof
        in
        the form of an interest in the Permanent Regulation S Global Security, such
        holder may, subject to the rules and procedures of the Depository and to
        the
        requirements set forth in the following sentence, exchange or cause the exchange
        or transfer or cause the transfer of such interest for an equivalent beneficial
        interest in the Permanent Regulation S Global Security. Upon receipt by the
        Trustee, as transfer agent, of (1) instructions given in accordance with
        the
        Depository’s procedures from or on behalf of a holder of a beneficial interest
        in the Rule 144A Global Security, directing the Trustee, as transfer agent,
        to
        credit or cause to be credited a beneficial interest in the Permanent Regulation
        S Global Security in an amount equal to the beneficial interest in the Rule
        144A
        Global Security to be exchanged or transferred, (2) a written order given
        in
        accordance with the Depository’s procedures containing information regarding the
        Euroclear or Clearstream account to be credited with such increase and the
        name
        of such account, and (3) a certificate in the form of Exhibit C hereto given
        by
        the holder of such beneficial interest stating that the exchange or transfer
        of
        such interest has been made pursuant to and in accordance with Rule 903 or
        Rule
        904 of Regulation S under the Securities Act, the Trustee, as transfer agent,
        shall promptly deliver appropriate instructions to the Depository, its nominee,
        or the custodian for the Depository, as the case may be, to reduce or reflect
        on
        its records a reduction of the Rule 144A Global Security by the aggregate
        principal amount of the beneficial interest in such Rule 144A Global Security
        to
        be so exchanged or transferred from the relevant participant, and the Trustee,
        as transfer agent, shall promptly deliver appropriate instructions to the
        Depository, its nominee, or the custodian for the Depository, as the case
        may
        be, concurrently with such reduction, to increase or reflect on its records
        an
        increase of the principal amount of such Permanent Regulation S Global Security
        by the aggregate principal amount of the beneficial interest in such Rule
        144A
        Global Security to be so exchanged or transferred, and to credit or cause
        to be
        credited to the account of the person specified in such instructions (who
        may be
        Euroclear or Clearstream or another agent member of Euroclear or Clearstream
        or
        both, as the case may be, acting for and on behalf of them) a beneficial
        interest in such Permanent Regulation S Global Security equal to the reduction
        in the principal amount of such Rule 144A Global Security.

       

      (ii)  If
        a
        holder of a beneficial interest in the Permanent Regulation S Global Security
        wishes at any time to exchange its interest in the Permanent Regulation S
        Global
        Security for an interest in the Rule 144A Global Security, or to transfer
        its
        interest in the Permanent Regulation S Global Security to a person who wishes
        to
        take delivery thereof in the form of an interest in the Rule 144A Global
        Security, such holder may, subject to the rules and procedures of Euroclear
        or
        Clearstream and the Depository, as the case may be, and to the requirements
        set
        forth in the following sentence, exchange or cause the exchange or transfer
        or
        cause the transfer of such interest for an equivalent beneficial interest
        in
        such Rule 144A Global Security. Upon receipt by the Trustee, as transfer
        agent,
        of (1) instructions given in accordance with the procedures of Euroclear
        or
        Clearstream and the Depository, as the case may be, from or on behalf of
        a
        beneficial owner of an interest in the Permanent Regulation S Global Security
        directing the Trustee, as transfer agent, to credit or cause to be credited
        a
        beneficial interest in the Rule 144A Global Security in an amount equal to
        the
        beneficial interest in the Permanent Regulation S Global Security to be
        exchanged or transferred, (2) a written order given in accordance with the
        procedures of Euroclear or Clearstream and the Depository, as the case may
        be,
        containing information regarding the account with the Depository to be credited
        with such increase and the name of such account, and (3) prior to the expiration
        of the Distribution Compliance Period, a certificate in the form of Exhibit
        C
        hereto given by the holder of such beneficial interest and stating that the
        person transferring such interest in such Permanent Regulation S Global Security
        reasonably believes that the person acquiring such interest in the Rule 144A
        Global Security is a QIB and is obtaining such beneficial interest for its
        own
        account or the account of a QIB in a transaction meeting the requirements
        of
        Rule 144A and any applicable securities laws of any state of the United States
        or any other jurisdiction, the Trustee, as transfer agent, shall promptly
        deliver appropriate instructions to the Depository, its nominee, or the
        custodian for the Depository, as the case may be, to reduce or reflect on
        its
        records a reduction of the Permanent Regulation S Global Security by the
        aggregate principal amount of the beneficial interest in such Permanent
        Regulation S Global Security to be exchanged or transferred, and the Trustee,
        as
        transfer agent, shall promptly deliver appropriate instructions to the
        Depository, its nominee, or the custodian for the Depository, as the case
        may
        be, concurrently with such reduction, to increase or reflect on its records
        an
        increase of the principal amount of the Rule 144A Global Security by the
        aggregate principal amount of the beneficial interest in the Permanent
        Regulation S Global Security to be so exchanged or transferred, and to credit
        or
        cause to be credited to the account of the person specified in such instructions
        a beneficial interest in the Rule 144A Global Security equal to the reduction
        in
        the principal amount of the Permanent Regulation S Global Security. After
        the
        expiration of the Distribution Compliance Period, the certification requirement
        set forth in clause (3) of the second sentence of this Section 2.08(b)(ii)
        will
        no longer apply to such exchanges and transfers.

       

      (iii)  Any
        beneficial interest in one of the Global Securities that is transferred to
        a
        person who takes delivery in the form of an interest in the other Global
        Securities will, upon transfer, cease to be an interest in such Global Security
        and become an interest in the other Global Securities and, accordingly, will
        thereafter be subject to all transfer restrictions and other procedures
        applicable to beneficial interests in such other Global Security Note for
        as
        long as it remains such an interest.

       

      (iv)  Beneficial
        interests in Temporary Regulation S Global Securities may be exchanged for
        interests in Rule 144A Global Securities or Permanent Regulation S Global
        Securities if (1) such exchange occurs in connection with a transfer of
        securities in compliance with Rule 144A, and (2) the transferor of the
        beneficial interest in the Temporary Regulation S Global Security first delivers
        to the Trustee a written certificate (in a form satisfactory to the Trustee)
        to
        the effect that the beneficial interest in the Temporary Regulation S Global
        Security is being transferred to a Person (a) who the transferor reasonably
        believes to be a QIB (b) purchasing for its own account or the account of
        a QIB
        in a transaction meeting the requirements of Rule 144A, and (c) in accordance
        with all applicable securities laws of the states of the United States and
        other
        jurisdictions.

       

      (v)  During
        the Distribution Compliance Period, beneficial ownership interests in Temporary
        Regulation S Global Securities may only be sold, pledged or transferred through
        Euroclear or Clearstream in accordance with the applicable procedures relating
        to such institutions and only (i) to the Company, (ii) so long as such security
        is eligible for resale pursuant to Rule 144A, to a Person whom the selling
        holder reasonably believes is a QIB that purchases for its own account or
        for
        the account of a QIB in a transaction meeting the requirements of Rule 144A,
        (iii) in an offshore transaction in accordance with Regulation S (other than
        a
        transaction resulting in an exchange for interest in a Permanent Regulation
        S
        Global Security), (iv) pursuant to an exemption from registration under the
        Securities Act provided by Rule 144 (if applicable) under the Securities
        Act or
        (v) pursuant to an effective registration statement under the Securities
        Act, in
        each case in accordance with any applicable securities laws of any state
        of the
        United States.

       

                             
        (c)  Transfer
        and Exchange of Global Securities and Certificated Securities.

       

      (i)  In
        the
        event that a Global Security is exchanged for a Certificated Security as
        provided in Section 2.06(c), such Certificated Security may be exchanged
        or
        transferred for one another, subject to Section 2.05 of the Original Indenture,
        only in accordance with such procedures as are substantially consistent with
        the
        provisions of clauses (b)(i) and (ii) above (including the certification
        requirements intended to ensure that such exchanges or transfers comply with
        Rule 144, Rule 144A or Regulation S, as the case may be) and as may be from
        time
        to time reasonably adopted by the Company.

       

      (ii)  Upon
        receipt by the Trustee of a Certificated Security, duly endorsed or accompanied
        by appropriate instruments of transfer, the Trustee shall cancel such
        Certificated Security and cause, or direct the Securities Custodian to cause,
        in
        accordance with the standing instructions and procedures existing of the
        Depository and the Securities Custodian, the aggregate principal amount of
        2013
        Notes represented by the Rule 144A Global Security or Permanent Regulation
        S
        Global Security, as applicable, to be increased by the aggregate principal
        amount of the Certificated Security to be exchanged and shall credit or cause
        to
        be credited to the account of the Person specified in such instructions a
        beneficial interest in the Rule 144A Global Security or Permanent Regulation
        S
        Global Security, as applicable, equal to the principal amount of the
        Certificated Security so canceled. If no Rule 144A Global Securities or
        Permanent Regulation S Global Securities, as applicable, are then outstanding,
        the Company shall issue and the Trustee shall authenticate, upon written
        order
        of the Company in the form of an Officers' Certificate, a new Rule 144A Global
        Security or Permanent Regulation S Global Security, as applicable, in the
        appropriate principal amount.

       

      (d)  Certificates.
        In
        connection with any transfer described in paragraphs (b) and (c) of this
        Section
        2.08, the Trustee shall receive a certificate of transfer in the form attached
        as Exhibit C hereto. Additionally, upon any transfer or exchange to an
        Institutional Accredited Investor, the Company and the Trustee shall receive
        a
        certificate in the form attached as Exhibit D hereto.

       

      (e)  Transfer
        Restricted Security.
        Upon
        any sale or transfer of a Transfer Restricted Security (including any Transfer
        Restricted Security represented by a Global Security) pursuant to Rule 144
        under
        the Securities Act or an effective registration statement under the Securities
        Act, which shall be certified to the Trustee and Security Registrar upon
        which
        each may conclusively rely:

       

      (i)  in
        the
        case of any Transfer Restricted Security represented by a Certificated Security,
        the Security Registrar shall permit the Holder thereof to exchange such Transfer
        Restricted Security for a Certificated Security that does not bear the legend
        set forth in Exhibit A hereto and rescind any restriction on the transfer
        of
        such Transfer Restricted Security; and

       

      (ii)  in
        the
        case of any Transfer Restricted Security represented by a Global Security,
        such
        Transfer Restricted Security shall not be required to bear the legend set
        forth
        in Exhibit A hereto if all other interests in such Global Note have been
        or are
        concurrently being sold or transferred pursuant to Rule 144 under the Securities
        Act or pursuant to an effective registration statement under the Securities
        Act.

       

      (f)  Registered
        Exchange Offer.
        Notwithstanding the foregoing, upon consummation of the Registered Exchange
        Offer, the Company shall issue and, upon receipt of a Company Order in
        accordance with Section 2.05 of the Original Indenture, the Trustee shall
        authenticate Series C Notes in exchange for Series A Notes accepted for exchange
        in the Registered Exchange Offer, which Series C Notes shall not bear the
        transfer restriction legend set forth in Exhibit A hereto and shall not provide
        for Special Interest Premium (except in certain circumstances related to
        the
        Columbus Southern Wires Exchange Offer as set forth in Section 2.03(iii)(b)
        herein) and the Security Registrar shall rescind any restriction on the transfer
        of such Series C Notes, in each case unless the Holder of such Series A Notes
        (A) is a broker-dealer tendering Series A Notes acquired directly from the
        Company or an “affiliate” (as defined in Rule 144 under the Securities Act) of
        the Company for its own account, (B) is a Person who has an arrangement or
        understanding with any Person to participate in the “distribution” (within the
        meaning of the Securities Act) of the Series C Notes, (C) is a Person who
        is an
“affiliate” (as defined in Rule 144 under the Securities Act) of the Company or
        (D) will not be acquiring the Series C Notes in the ordinary course of such
        Holder's business. The Company shall identify to the Trustee such Holders
        in a
        written certification signed by an Officer of the Company and, absent
        certification from the Company to such effect, the Trustee shall assume that
        there are no such Holders.

       

      (g)  Ohio
        Wires Exchange Offer.
        Notwithstanding the foregoing, upon consummation of the Columbus Southern
        Wires
        Exchange Offer, Holders of the 2013 Notes shall be permitted to exchange
        such
        2013 Notes for Columbus Southern Wires Notes as set forth in Section 7 of
        the
        Registration Rights Agreement and in a manner mutually acceptable to the
        Trustee
        and the Company.

       

      ARTICLE
        III 

       

      Miscellaneous
        Provisions

       

      SECTION
        3.01.    Recitals
        by Company 
        The recitals in this First Supplemental Indenture are made by the Company
        only
        and not by the Trustee, and all of the provisions contained in the Original
        Indenture in respect of the rights, privileges, immunities, powers and duties
        of
        the Trustee shall be applicable in respect of 2013 Notes and of this First
        Supplemental Indenture as fully and with like effect as if set forth herein
        in
        full.

       

      SECTION
        3.02.    Ratification
        and Incorporation of Original Indenture 
        As
        supplemented hereby, the Original Indenture is in all respects ratified and
        confirmed, and the Original Indenture and this First Supplemental Indenture
        shall be read, taken and construed as one and the same instrument.

       

      SECTION
        3.03.    Executed
        in Counterparts
        This
        First Supplemental Indenture may be simultaneously executed in several
        counterparts, each of which shall be deemed to be an original, and such
        counterparts shall together constitute but one and the same
        instrument.

       

      SECTION
        3.04.    Legends 
        Except as determined by the Company in accordance with applicable law, each
        2013
        Note shall bear the applicable legends relating to restrictions on transfer
        pursuant to the securities laws in substantially the form set forth on Exhibit
        A
        hereto.

       

      SECTION
        3.05.    Applicability
        of Section 4.05 and Article Ten of Original Indenture

       

                                         
        (a)  As
        long
        as the 2013 Notes are outstanding, Section 4.05 and Article Ten of the Original
        Indenture shall be applicable thereto; 

                  
        provided, however, that the transfer of all or substantially all of the
        Company’s transmission and distribution assets (“Transmission and Distribution

                  
        Business”) (whether or not the Transmission and Distribution Business
        constitutes “substantially all” of the Company’s total assets) to Columbus
        Southern 

                   Wires
        LLC (“Columbus Southern Wires”) shall not be subject to Section 4.05 and Article
        Ten of the Original Indenture.

       

      (b)  To
        the
        extent the Transmission and Distribution Business is transferred to Columbus
        Southern Wires, holders of 2013 Notes shall be given the option to either
        (i)
        retain their 2013 Notes or (ii) exchange their 2013 Notes for Columbus Southern
        Wires Notes pursuant to the Ohio Wires Exchange Offer.

      

 

      IN
        WITNESS WHEREOF, each party hereto has caused this instrument to be signed
        in
        its name and behalf by its duly authorized signatories, all as of the day
        and
        year first above written.

       

       

      COLUMBUS
        SOUTHERN POWER COMPANY

       

      By_/s/
        G. S. Chatas_____

      Assistant
        Treasurer

           
        Attest:

       

      By_/s/
        T. G. Berkemeyer_

                 
        Assistant Secretary

       

       

      BANK
        ONE,
        N. A.,

                                         
        as Trustee

       

                                                                             
        By_/s/ Jeffery L. Eubank__

                                                                                   
        Vice President

       

      Attest:

       

      By_/s/
        David B. Knox__

                 
        Trust Officer

       

      EXHIBIT
        A

       

      FORM
        OF
        SERIES [A/C] NOTE

       

      [Rule
        144A Global Security]

      [Regulation
        S Global Security]

      [Certificated
        Security]

       

      [FORM
        OF
        FACE OF INITIAL SECURITY]

       

      [Global
        Securities Legend]

       

      UNLESS
        THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
        TRUST COMPANY, A NEW YORK CORPORATION, TO THE COMPANY 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 IS REQUESTED BY
        AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (AND ANY PAYMENT
        IS
        MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
        REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), 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.

       

      TRANSFERS
        OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN
        PART,
        TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR'S NOMINEE
        AND
        TRANSFERS OR PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS
        MADE
        IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO
        ON
        THE REVERSE HEREOF.

       

      [FOR
        REGULATION S GLOBAL NOTE ONLY] UNTIL 40 DAYS AFTER THE COMMENCEMENT OF THE
        OFFERING, AN OFFER OR SALE OF NOTES WITHIN THE UNITED STATES BY A DEALER
        (AS
        DEFINED IN THE U.S. SECURITIES ACT) MAY VIOLATE THE REGISTRATION REQUIREMENTS
        OF
        THE U.S. SECURITIES ACT IF SUCH OFFER OR SALE IS MADE OTHERWISE THAN IN
        ACCORDANCE WITH RULE 144A THEREUNDER.

       

      [Restricted
        Securities Legend]

       

      THIS
        SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
        (THE “SECURITIES ACT”). THE HOLDER HEREOF, BY PURCHASING THIS SECURITY, AGREES
        FOR THE BENEFIT OF THE COMPANY THAT THIS SECURITY MAY NOT BE RESOLD, PLEDGED
        OR
        OTHERWISE TRANSFERRED OTHER THAN (A)(1) TO THE COMPANY, (2) IN A TRANSACTION
        ENTITLED TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
        SECURITIES ACT, (3) SO LONG AS THIS SECURITY IS ELIGIBLE FOR RESALE PURSUANT
        TO
        RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON WHOM THE SELLER
        REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING
        OF
        RULE 144A PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED
        INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE RESALE, PLEDGE OR OTHER
        TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (4) OUTSIDE THE UNITED STATES
        IN A TRANSACTION MEETING THE REQUIREMENTS OF REGULATION S UNDER THE SECURITIES
        ACT, (5) IN ACCORDANCE WITH ANOTHER APPLICABLE EXEMPTION FROM THE REGISTRATION
        REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL
        ACCEPTABLE TO THE COMPANY) OR (6) PURSUANT TO A REGISTRATION STATEMENT WHICH
        HAS
        BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT AND (B) IN EACH CASE IN
        ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF EACH STATE OF THE UNITED
        STATES. AN INSTITUTIONAL ACCREDITED INVESTOR HOLDING THIS SECURITY AGREES
        IT
        WILL FURNISH TO THE COMPANY AND THE TRUSTEE SUCH CERTIFICATES AND OTHER
        INFORMATION AS THEY MAY REASONABLY REQUIRE TO CONFIRM THAT ANY TRANSFER BY
        IT OF
        THIS SECURITY COMPLIES WITH THE FOREGOING RESTRICTIONS. THE HOLDER HEREOF,
        BY
        PURCHASING THIS SECURITY, REPRESENTS AND AGREES FOR THE BENEFIT OF THE COMPANY
        THAT IT IS (1) A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE
        144A
        OR (2) AN INSTITUTION THAT IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE
        501(A)(1), (2),(3) OR (7) UNDER THE SECURITIES ACT AND THAT IT IS HOLDING
        THIS
        SECURITY FOR INVESTMENT PURPOSES AND NOT FOR DISTRIBUTION OR (3) A NON-U.S.
        PERSON OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER
        THE
        SECURITIES ACT.

       

      [Temporary
        Regulation S Global Security Legend]

       

      EXCEPT
        AS
        SET FORTH BELOW, BENEFICIAL OWNERSHIP INTEREST IN THIS TEMPORARY REGULATION
        S
        GLOBAL SECURITY WILL NOT BE EXCHANGEABLE FOR INTERESTS IN THE PERMANENT
        REGULATION S GLOBAL SECURITY OR ANY OTHER SECURITY REPRESENTING AN INTEREST
        IN
        THE SECURITIES REPRESENTED HEREBY WHICH DO NOT CONTAIN A LEGEND CONTAINING
        RESTRICTIONS ON TRANSFER, UNTIL THE EXPIRATION OF THE “40-DAY DISTRIBUTION
        COMPLIANCE PERIOD” (WITHIN THE MEANING OF RULE 903(d)(3) OF REGULATION S UNDER
        THE SECURITIES ACT) AND THEN ONLY UPON CERTIFICATION IN FORM REASONABLY
        SATISFACTORY TO THE TRUSTEE THAT SUCH BENEFICIAL INTERESTS ARE OWNED EITHER
        BY
        NON-U.S. PERSONS OR U.S. PERSONS WHO PURCHASED SUCH INTERESTS IN A TRANSACTION
        THAT DID NOT REQUIRE REGISTRATION UNDER THE SECURITIES ACT. DURING SUCH 40-DAY
        DISTRIBUTION COMPLIANCE PERIOD, BENEFICIAL OWNERSHIP INTEREST IN THIS TEMPORARY
        REGULATION S GLOBAL SECURITY MAY ONLY BE SOLD, PLEDGED OR TRANSFERRED THROUGH
        EUROCLEAR BANK S.A./N.A., AS OPERATOR OF THE EUROCLEAR SYSTEM OR CLEARSTREAM
        BANKING, SOCIÉTÉ ANONYME AND ONLY (I) TO THE COMPANY, (II) IN THE UNITED STATES
        TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL
        BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A TRANSACTION
        MEETING THE REQUIREMENTS OF RULE 144A , (III) OUTSIDE THE UNITED STATES IN
        A
        TRANSACTION IN ACCORDANCE WITH RULE 904 UNDER THE SECURITIES ACT, OR (IV)
        PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT,
        IN
        EACH OF CASE (I) THROUGH (IV) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES
        LAWS
        OF ANY STATE OF THE UNITED STATES. HOLDERS OF INTERESTS IN THIS TEMPORARY
        REGULATION S GLOBAL SECURITY WILL NOTIFY ANY PURCHASER OF THIS SECURITY OF
        THE
        RESALE RESTRICTIONS REFERRED TO ABOVE, IF THEN APPLICABLE.

       

      BENEFICIAL
        INTERESTS IN THIS TEMPORARY REGULATIONS S GLOBAL SECURITY MAY BE EXCHANGED
        FOR
        INTEREST IN A RULE 144A GLOBAL SECURITY ONLY IF (1) SUCH EXCHANGE OCCURS
        IN
        CONNECTION WITH A TRANSFER OF THE NOTES IN COMPLIANCE WITH RULE 144A, AND
        (2)
        THE TRANSFEROR OF THE REGULATION S GLOBAL SECURITY FIRST DELIVERS TO THE
        TRUSTEE
        A WRITTEN CERTIFICATE (IN THE FORM ATTACHED TO THIS CERTIFICATE) TO THE EFFECT
        THAT THE REGULATION S GLOBAL SECURITY BEING TRANSFERRED TO A PERSON (A) WHO
        THE
        TRANSFEROR REASONABLY BELIEVES TO BE A QUALIFIED INSTITUTIONAL BUYER WHEN
        THE
        MEANING OF RULE 144A (B) PURCHASING FOR ITS OWN ACCOUNT OR THE ACCOUNT OF
        A
        QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION MEETING THE REQUIREMENTS OF
        RULE
        144A, AND (C) IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE STATES
        OF
        THE UNITED STATES AND OTHER JURISDICTIONS.

       

      BENEFICIAL
        INTEREST IN A RULE 144A GLOBAL SECURITY MAY BE TRANSFERRED TO A PERSON WHO
        TAKES
        DELIVERY IN THE FORM OF AN INTEREST IN THE REGULATION S GLOBAL SECURITY,
        WHETHER
        BEFORE OR AFTER THE EXPIRATION OF THE 40-DAY DISTRIBUTION COMPLIANCE PERIOD,
        ONLY IF THE TRANSFEROR FIRST DELIVERS TO THE TRUSTEE A WRITTEN CERTIFICATE
        (IN
        THE FORM ATTACHED TO THIS CERTIFICATE) TO THE EFFECT THAT IF SUCH TRANSFER
        IS
        BEING MADE IN ACCORDANCE WITH RULE 903 OR 904 OF REGULATION S OR RULE 144
        (IF
        AVAILABLE) AND THAT, IF SUCH TRANSFER OCCURS PRIOR TO THE EXPIRATION OF THE
        40-DAY DISTRIBUTION COMPLIANCE PERIOD, THE INTEREST TRANSFERRED WILL BE HELD
        IMMEDIATELY THEREAFTER THROUGH EUROCLEAR BANK S.A./N.A. OR CLEARSTREAM BANKING
        SOCIÉTÉ ANONYME.

       

      [Certificated
        Securities Legend]

       

      IN
        CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND
        TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH TRANSFER AGENT
        MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING
        RESTRICTIONS.

      
 

       

      COLUMBUS
        SOUTHERN POWER COMPANY

      5.50%
        Senior Notes,

      Series
        [A/C] due

      2013

       

      CUSIP:
        [199575 AP 6/144A][199575 AS 0/Reg
        S]         
Original
        Issue Date: February 14, 2003

       

      Stated
        Maturity: March 1, 2013                  Interest
        Rate: 5.50%

       

      Principal
        Amount: $250,000,000
        (or such other amount as is indicated on Schedule A)

       

      Redeemable:  Yes X  No

       

      In
        Whole:               
        Yes X  No

       

      In
        Part:                   
        Yes X  No

       

      COLUMBUS
        SOUTHERN POWER COMPANY, a corporation duly organized and existing under the
        laws
        of the State of Ohio (herein referred to as the “Company”, which term includes
        any successor corporation under the Indenture hereinafter referred to), for
        value received, hereby promises to pay to [________] or registered assigns,
        the
        principal sum of _____ DOLLARS ($_____) [or such other amount as is indicated
        on
        Schedule A hereto] on the Stated Maturity specified above (or upon earlier
        redemption); and to pay interest on said Principal Amount from the Original
        Issue Date specified above or from the most recent interest payment date
        (each
        such date, an “Interest Payment Date”) to which interest has been paid or duly
        provided for, semi-annually in arrears on March 1 and September 1 in each
        year,
        commencing on September 1, 2003, at the Interest Rate per annum specified
        above,
        until the Principal Amount shall have been paid or duly provided for. Interest
        shall be computed on the basis of a 360-day year of twelve 30-day
        months.

       

      The
        interest so payable, and punctually paid or duly provided for, on any Interest
        Payment Date, as provided in the Indenture, as hereinafter defined, shall
        be
        paid to the Person in whose name this Note (or one or more Predecessor
        Securities) shall have been registered at the close of business on the Regular
        Record Date with respect to such Interest Payment Date, which shall be the
        February 15 or August 15 (whether or not a Business Day), as the case may
        be,
        immediately preceding such Interest Payment Date, provided that interest
        payable
        on the Stated Maturity or any redemption date shall be paid to the Person
        to
        whom principal is paid. Any such interest not so punctually paid or duly
        provided for shall forthwith cease to be payable to the Holder on such Regular
        Record Date and shall be paid as provided in said Indenture.

       

      If
        any
        Interest Payment Date, any redemption date or Stated Maturity is not a Business
        Day, then payment of the amounts due on this Note on such date will be made
        on
        the next succeeding Business Day, and no interest shall accrue on such amounts
        for the period from and after such Interest Payment Date, redemption date
        or
        Stated Maturity, as the case may be, except that, if such Business Day is
        in the
        next succeeding calendar year, such payment shall be made on the immediately
        preceding Business Day, with the same force and effect as if made on such
        date.
        The principal of (and premium, if any) and the interest on this Note shall
        be
        payable at the office or agency of the Company maintained for that purpose
        in
        the Borough of Manhattan, the City of New York, New York, in any coin or
        currency of the United States of America which at the time of payment is
        legal
        tender for payment of public and private debts; provided, however, that payment
        of interest (other than interest payable on Stated Maturity or any redemption
        date) may be made at the option of the Company by check mailed to the registered
        holder at such address as shall appear in the Security Register.

       

      This
        Note
        is one of a duly authorized series of Notes of the Company (herein sometimes
        referred to as the “Notes”), specified in the Indenture (defined below), all
        issued or to be issued in one or more series under and pursuant to an Indenture
        dated as of February 1, 2003 duly executed and delivered between the Company
        and
        Bank One, N. A., a corporation organized and existing under the laws of the
        United States, as Trustee (herein referred to as the “Trustee”) (such Indenture,
        as originally executed and delivered and as thereafter supplemented and amended
        being hereinafter referred to as the "Indenture"), 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 Notes. By the terms of
        the
        Indenture, the Notes are issuable in series which may vary as to amount,
        date of
        maturity, rate of interest and in other respects as in the Indenture provided.
        This Note is one of the series of Notes designated on the face hereof as
        5.50%
        Senior Notes, Series [A/C] due 2013 initially issued in the aggregate principal
        amount of $250,000,000.

       

      This
        Note
        may be redeemed by the Company at its option, in whole at any time or in
        part
        from time to time, upon not less than thirty but not more than sixty days’
        previous notice given by mail to the registered owners of the Note at a
        redemption price equal to the greater of (i) 100% of the principal of the
        Note
        being redeemed and (ii) the sum of the present values of the remaining scheduled
        payments of principal and interest on the Note being redeemed (excluding
        the
        portion of any such interest accrued to the date of redemption) discounted
        (for
        purposes of determining present value) to the redemption date on a semi-annual
        basis (assuming a 360-day year consisting of twelve 30-day months) at the
        Treasury Rate (as defined below) plus 25 basis points, plus, in each case,
        accrued interest thereon to the date of redemption.

       

      “Treasury
        Rate” means, with respect to any redemption date, the rate per annum equal to
        the semi-annual equivalent yield to maturity of the Comparable Treasury Issue,
        assuming a price for the Comparable Treasury Issue (expressed as a percentage
        of
        its principal amount) equal to the Comparable Treasury Price for such redemption
        date.

       

      “Comparable
        Treasury Issue” means the United States Treasury security selected by an
        Independent Investment Banker as having a maturity comparable to the remaining
        term of the Notes that would be utilized, at the time of selection and in
        accordance with customary financial practice, in pricing new issues of corporate
        debt securities of comparable maturity to the remaining term of the
        Notes.

       

      “Comparable
        Treasury Price” means, with respect to any redemption date, (1) the average of
        the bid and asked prices for the Comparable Treasury Issue (expressed in
        each
        case as a percentage of its principal amount) on the third Business Day
        preceding such redemption date, as set forth in the daily statistical release
        (or any successor release) published by the Federal Reserve Bank of New York
        and
        designated “Composite 3:30 p.m. Quotations for U.S. Government Securities” or
        (2) if such release (or any successor release) is not published or does not
        contain such prices on such third Business Day, the Reference Treasury Dealer
        redemption date.

       

      “Independent
        Investment Banker” means one of the Reference Treasury Dealers appointed by the
        Company and reasonably acceptable to the Trustee.

       

      “Reference
        Treasury Dealer” means a primary U.S. government securities dealer selected by
        the Company and reasonably acceptable to the Trustee.

       

      “Reference
        Treasury Dealer Quotation” means, with respect to the Reference Treasury Dealer
        and any redemption date, the average, as determined by the Trustee, of the
        bid
        and asked prices for the Comparable Treasury Issue (expressed in each case
        as a
        percentage of its principal amount) quoted in writing to the Trustee by such
        Reference Treasury Dealer at or before 5:00 p.m., New York City time, on
        the
        third Business Day preceding such redemption date.

       

      The
        Company shall not be required to (i) issue, exchange or register the transfer
        of
        any Notes during a period beginning at the opening of business 15 days before
        the day of the mailing of a notice of redemption of less than all the
        outstanding Notes of the same series and ending at the close of business
        on the
        day of such mailing, nor (ii) register the transfer of or exchange of any
        Notes
        of any series or portions thereof called for redemption. This Global Note
        is
        exchangeable for Notes in definitive registered form only under certain limited
        circumstances set forth in the Indenture.

       

      In
        the
        event of redemption of this Note in part only, a new Note or Notes of this
        series, of like tenor, for the unredeemed portion hereof will be issued in
        the
        name of the Holder hereof upon the surrender of this Note.

       

      In
        case
        an Event of Default, as defined in the Indenture, shall have occurred and
        be
        continuing, the principal of all of the Notes may be declared, and upon such
        declaration shall become, due and payable, in the manner, with the effect
        and
        subject to the conditions provided in the Indenture.

       

      The
        Indenture contains provisions for defeasance at any time of the entire
        indebtedness of this Note upon compliance by the Company with certain conditions
        set forth therein. This Note will not have a sinking fund.

       

      As
        described in the supplemental indenture relating to the Notes, so long as
        this
        Note is outstanding, the Company is subject to a limitation on issuance of
        Secured Debt as described therein.

       

      The
        Indenture contains provisions permitting the Company and the Trustee, with
        the
        consent of the Holders of not less than a majority in aggregate principal
        amount
        of the Notes of each series affected at the time outstanding, as defined
        in the
        Indenture, to execute supplemental indentures for the purpose of adding any
        provisions to or changing in any manner or eliminating any of the provisions
        of
        the Indenture or of any supplemental indenture or of modifying in any manner
        the
        rights of the Holders of the Notes; provided, however, that no such supplemental
        indenture shall (i) extend the fixed maturity of any Notes of any series,
        or
        reduce the principal amount thereof, or reduce the rate or extend the time
        of
        payment of interest thereon, or reduce any premium payable upon the redemption
        thereof, or reduce the amount of the principal of a Discount Security that
        would
        be due and payable upon a declaration of acceleration of the maturity thereof
        pursuant to the Indenture, without the consent of the holder of each Note
        then
        outstanding and affected; (ii) reduce the aforesaid percentage of Notes,
        the
        holders of which are required to consent to any such supplemental indenture,
        or
        reduce the percentage of Notes, the holders of which are required to waive
        any
        default and its consequences, without the consent of the holder of each Note
        then outstanding and affected thereby; or (iii) modify any provision of Section
        6.01(c) of the Indenture (except to increase the percentage of principal
        amount
        of securities required to rescind and annul any declaration of amounts due
        and
        payable under the Notes), without the consent of the holder of each Note
        then
        outstanding and affected thereby. The Indenture also contains provisions
        permitting the Holders of a majority in aggregate principal amount of the
        Notes
        of all series at the time outstanding affected thereby, on behalf of the
        Holders
        of the Notes of such series, to waive any past default in the performance
        of any
        of the covenants contained in the Indenture, or established pursuant to the
        Indenture with respect to such series, and its consequences, except a default
        in
        the payment of the principal of or premium, if any, or interest on any of
        the
        Notes of such series. Any such consent or waiver by the registered Holder
        of
        this Note (unless revoked as provided in the Indenture) shall be conclusive
        and
        binding upon such Holder and upon all future Holders and owners of this Note
        and
        of any Note issued in exchange herefor or in place hereof (whether by
        registration or transfer or otherwise), irrespective of whether or not any
        notation of such consent or waiver is made upon this Note.

       

      No
        reference herein to the Indenture and no provision of this Note or of the
        Indenture shall alter or impair the obligation of the Company, which is absolute
        and unconditional, to pay the principal of and premium, if any, and interest
        on
        this Note at the time and place and at the rate and in the money herein
        prescribed.

       

      As
        provided in the Indenture and subject to certain limitations therein set
        forth,
        this Note is transferable by the registered holder hereof on the Security
        Register of the Company, upon surrender of this Note for registration of
        transfer at the office or agency of the Company as may be designated by the
        Company accompanied by a written instrument or instruments of transfer in
        form
        satisfactory to the Company or the Trustee duly executed by the registered
        Holder hereof or his or her attorney duly authorized in writing, and thereupon
        one or more new Notes of authorized denominations and for the same aggregate
        principal amount and series will be issued to the designated transferee or
        transferees. No service charge will be made for any such transfer, but the
        Company may require payment of a sum sufficient to cover any tax or other
        governmental charge payable in relation thereto.

       

      Prior
        to
        due presentment for registration of transfer of this Note, the Company, the
        Trustee, any paying agent and any Security Registrar may deem and treat the
        registered Holder hereof as the absolute owner hereof (whether or not this
        Note
        shall be overdue and notwithstanding any notice of ownership or writing hereon
        made by anyone other than the Note Registrar) for the purpose of receiving
        payment of or on account of the principal hereof and premium, if any, and
        interest due hereon and for all other purposes, and neither the Company nor
        the
        Trustee nor any paying agent nor any Security Registrar shall be affected
        by any
        notice to the contrary.

       

      No
        recourse shall be had for the payment of the principal of or the interest
        on
        this Note, or for any claim based hereon, or otherwise in respect hereof,
        or
        based on or in respect of the Indenture, against any incorporator, stockholder,
        officer or director, past, present or future, as such, of the Company or
        of any
        predecessor or 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 issuance hereof, expressly released waived and
        released.

       

      The
        Notes
        of this series are issuable only in registered form without coupons in
        denominations of $1,000 and any integral multiple thereof except that a Note
        issued to an Institutional Accredited Investor will be in denominations of
        at
        $250,000. As provided in the Indenture and subject to certain limitations,
        Notes
        of this series are exchangeable for a like aggregate principal amount of
        Notes
        of this series of a different authorized denomination, as requested by the
        Holder surrendering the same.

       

      All
        terms
        used in this Note which are defined in the Indenture shall have the meanings
        assigned to them in the Indenture.

       

      This
        Note
        shall not be entitled to any benefit under the Indenture hereinafter referred
        to, be valid or become obligatory for any purpose until the Certificate of
        Authentication hereon shall have been signed by or on behalf of the
        Trustee.

       

      IN
        WITNESS WHEREOF, the Company has caused this Instrument to be
        executed.

       

      COLUMBUS
        SOUTHERN POWER COMPANY

      

      

      By:
        ______________________________________

      

      

      Attest:

       

      By:
        ____________________________

      

       

      ABBREVIATIONS

       

      The
        following abbreviations, when used in the inscription on the face of this
        instrument, 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
                  ________

                (Cust)                   
                  (Minor)

              
	
                TEN
                  ENT-

              	
                as
                  tenants by the entireties

              	
                under
                  Uniform Gifts to

                Minors
                  Act

                 

                _________________________

                (State)

              
	
                JT
                  TEN-

              	
                As
                  joint tenants with right of survivorship and not as tenants in
                  common

              
	 	 	 

      

      Additional
        abbreviations may also be used

      though
        not on the above list.

       

      FOR
        VALUE
        RECEIVED, the undersigned hereby sell(s) and transfer(s) unto
        ___________________ (please insert Social Security or other identifying number
        of assignee)

       

      _________________________________________________________________________________________________________________________

      PLEASE
        PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE OF
        ASSIGNEE

       

      _________________________________________________________________________________________________________________________

       

      _________________________________________________________________________________________________________________________

      the
        within Note and all rights thereunder, hereby irrevocably constituting and
        appointing

       

      _________________________________________________________________________________________________________________________

      agent
        to
        transfer said Note on the books of the Company, with full power of substitution
        in the premises.

       

      
        	
                Dated:
                  ___________

              	_______________________________________________________________________________________
	 	
                 

                _______________________________________________________________________________________

              
	 	
                NOTICE:
                  The signature to this assignment must correspond with the name
                  as written
                  upon the face of the within instrument in every particular without
                  alteration or enlargement, or any change whatever.

              
	 	 

      

      
         

      

      In
        connection with any transfer of any of the Series A Notes evidenced by this
        certificate, the undersigned confirms that such Series A Notes are
        being:

       

      CHECK
        ONE
        BOX BELOW

       

      
        	
                (1)

                 

              	 	
                exchanged
                  for the undersigned’s own account without transfer; or

                 

              
	
                (2)

                 

              	 	
                transferred
                  to a person whom the undersigned reasonably believes to be a “qualified
                  institutional buyer” as defined in Rule 144A under the Securities Act of
                  1933 who is purchasing such Series A Notes for such buyer’s own account or
                  the account of a “qualified institutional buyer” in a transaction meeting
                  the requirements of Rule 144A under the Securities Act of 1933
                  and any
                  applicable securities laws of any state of the United States or
                  any other
                  jurisdiction; or

                 

              
	
                (3)

              	
              	
                exchanged
                  or transferred pursuant to and in compliance with Rule 903 or 904
                  of
                  Regulation S under the Securities Act of 1933; or

                 

              
	
                (4)

                 

              	 	
                exchanged
                  or transferred to an institutional “accredited investor” within the
                  meaning of Rule 501(a)(1), (2), (3) or (7) of Regulation D under
                  the
                  Securities Act pursuant to Rule 144A (and based upon an opinion
                  of counsel
                  if the Company or the Trustee so requests) and, to the knowledge
                  of the
                  transferor of the Series A Notes, such institutional accredited
                  investor to whom such Note is to be transferred is not an “affiliate” (as
                  defined in Rule 144 under the Securities Act) of the Company;
                  or

                 

              
	
                (5)

              	 	
                transferred
                  pursuant to another available exemption from the registration requirements
                  of the Securities Act of 1933.

                 

              

      

       

      Unless
        one of the boxes is checked, the Trustee will refuse to register any of the
        Series A Notes evidenced by this certificate in the name of any person other
        than the registered Holder thereof; provided,
        however,
        that if
        box (3), (4) or (5) is checked, the Company may require, prior to registering
        any such transfer of the Series A Notes, such legal opinions,
        certifications and other information as the Company has reasonably requested
        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
        of 1933, such as the exemption provided by Rule 144 under such Act; provided,
        further,
        that if
        box (2) is checked, the transferee must also certify that it is a qualified
        institutional buyer as defined in Rule 144A.

       

      ________________________________________

      Signature

      

       

      _______________________________________

       

      
         

      

      TO
        BE
        COMPLETED BY PURCHASER IF (2) ABOVE IS CHECKED.

       

      The
        undersigned represents and warrants that it is purchasing this Series A Note
        for
        its own account or an account with respect to which it exercises sole investment
        discretion and that it and any such account is a “qualified institutional buyer”
        within the meaning of Rule 144A under the Securities Act of 1933, and is
        aware
        that the sale to it is being made in reliance on Rule 144A and acknowledges
        that
        it has received such information regarding the Company as the undersigned
        has
        requested pursuant to Rule 144A or has determined not to request such
        information and that it is aware that the transferor is relying upon the
        undersigned’s foregoing representations in order to claim the exemption from
        registration provided by Rule 144A.

       

      Date:
        _________________

       

      ______________________

       

      

       

      NOTICE:
        To be executed by an executive officer.

       

      SCHEDULE
        A

       

      The
        initial aggregate principal amount of Series A Notes evidenced by the
        Certificate to which this Schedule is attached is $___________. The notations
        on
        the following table evidence decreases and increases in the aggregate principal
        amount of Series A Notes evidenced by such Certificate.

       

      
        	
                Decrease
                  in Principal Amount of Series A Notes

              	 	
                Increase
                  in Principal Amount of Series A Notes

              	 	
                Principal
                  Amount of Series A Notes Remaining After Such Decrease or
                  Increase

              	 	
                Notation
                  by

                Security
                  Registrar

              
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

      

       

      EXHIBIT
        B

       

      CERTIFICATE
        OF AUTHENTICATION

       

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

       

                          BANK
        ONE, N.
        A.,

                                                                                                   as
        Trustee 

       

                        By:_______________________________

                                                  
         Authorized
        Signatory

      
 

      EXHIBIT
        C

       

      FORM
        OF
        TRANSFER CERTIFICATE

       

      In
        connection with any transfer of any of the Series A Notes evidenced by this
        certificate, the undersigned confirms that such Series A Notes are
        being:

       

      CHECK
        ONE
        BOX BELOW

       

      
        	
                (1)

                 

              	 	
                exchanged
                  for the undersigned’s own account without transfer; or

                 

              
	
                (2)

                 

              	 	
                transferred
                  to a person whom the undersigned reasonably believes to be a “qualified
                  institutional buyer” as defined in Rule 144A under the Securities Act of
                  1933 who is purchasing such Series A Notes for such buyer’s own
                  account or the account of a “qualified institutional buyer” in a
                  transaction meeting the requirements of Rule 144A under the Securities
                  Act
                  of 1933 and any applicable securities laws of any state of the
                  United
                  States or any other jurisdiction; or

                 

              
	
                (3)

                 

              	 	
                exchanged
                  or transferred pursuant to and in compliance with Rule 903 or 904
                  of
                  Regulation S under the Securities Act of 1933; or

                 

              
	
                (4)

                 

              	 	
                exchanged
                  or transferred to an institutional “accredited investor” within the
                  meaning of Rule 501(a)(1), (2), (3) or (7) of Regulation D under
                  the
                  Securities Act pursuant to Rule 144A (and based upon an opinion
                  of counsel
                  if the Company or the Trustee so requests) and, to the knowledge
                  of the
                  transferor of the Series A Notes, such institutional accredited
                  investor to whom such Note is to be transferred is not an “affiliate” (as
                  defined in Rule 144 under the Securities Act) of the Company;
                  or

                 

              
	
                (5)

                 

              	 	
                transferred
                  pursuant to another available exemption from the registration requirements
                  of the Securities Act of 1933.

                 

              

      

      Unless
        one of the boxes is checked, the Trustee will refuse to register any of the
        Series A Notes evidenced by this certificate in the name of any person
        other than the registered Holder thereof; provided,
        however,
        that if
        box (3) or (4) is checked, the Company may require, prior to registering
        any
        such transfer of the Series A Notes, such legal opinions, certifications
        and other information as the Company has reasonably requested 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 of 1933,
        such as the exemption provided by Rule 144 under such Act; provided,
        further,
        that if
        box (2) is checked, the transferee must also certify that it is a qualified
        institutional buyer as defined in Rule 144A.

                                                      ______________________________________

      Signature

       

      TO
        BE
        COMPLETED BY PURCHASER IF (2) ABOVE IS CHECKED.

       

      The
        undersigned represents and warrants that it is purchasing this Series A Note
        for
        its own account or an account with respect to which it exercises sole investment
        discretion and that it and any such account is a “qualified institutional buyer”
        within the meaning of Rule 144A under the Securities Act of 1933, and is
        aware
        that the sale to it is being made in reliance on Rule 144A and acknowledges
        that
        it has received such information regarding the Company as the undersigned
        has
        requested pursuant to Rule 144A or has determined not to request such
        information and that it is aware that the transferor is relying upon the
        undersigned’s foregoing representations in order to claim the exemption from
        registration provided by Rule 144A.

       

      

       

      Date:
        _______________

       

      ____________________

       

      

       

      NOTICE:
        To be executed by an executive officer.

      
 

      EXHIBIT
        D

       

      FORM
        OF
        LETTER TO BE DELIVERED BY

       

      INSTITUTIONAL
        ACCREDITED INVESTORS

       

      Ladies
        and Gentlemen:

       

      In
        connection with our proposed purchase of the 5.50% Senior Notes, Series A
        due
        2013 (the Notes) issued by Columbus Southern Power Company, an Ohio corporation
        (Issuer), we confirm that: 

       

      
        	 	
                1.

              	
                We
                  are purchasing the Notes for our own account, or for one or more
                  investor
                  accounts for which we are acting as a fiduciary or agent, in each
                  case for
                  investment, and not with a view to, or for offer or sale in connection
                  with, any distribution in violation of the Securities Act, subject
                  to any
                  requirement of law that the disposition of our property or the
                  property of
                  such investor account or accounts be at all times within our or
                  their
                  control and subject to our or their ability to resell the Notes
                  pursuant
                  to Rule 144A, Regulation S or any exemption from registration available
                  under the Securities Act. 

              

      

       

      
        	 	
                2.

              	
                We
                  are an institutional “accredited investor” within the meaning of Rule
                  50l(a)(l), (2), (3) or (7) under the Securities Act who is purchasing
                  Notes with a principal amount of at least $250,000 and, if the
                  Notes are
                  to be purchased for one or more accounts (the “investor accounts”) for
                  which we are acting as fiduciary or agent, each such account is
                  an
                  institutional accredited investor who is purchasing Notes with
                  a principal
                  amount of at least $250,000. In the normal course of business or
                  our
                  investing activities, we invest in or purchase securities similar
                  to the
                  Notes and we have such knowledge and experience in financial business
                  matters that we are capable of evaluating the merits and risks
                  of
                  purchasing the Notes. We are aware that we (or any investor account)
                  may
                  be required to bear the economic risk of an investment in the Notes
                  for an
                  indefinite period of time and we (or such investor account) are
                  able to
                  bear such risk for an indefinite period.

              

      

       

      
        	 	
                3.

              	
                We
                  acknowledge that none of the Issuer, the initial purchasers or
                  any persons
                  representing any of them has made any representation to us with
                  respect to
                  any such entity or the offering or sale of any Notes, other than
                  the
                  information contained in the Issuer’s offering memorandum dated February
                  11, 2003, related to the Notes, which offering memorandum has been
                  delivered to it and upon which it is relying in making its investment
                  decision with respect to the Notes. Accordingly, we acknowledge
                  that no
                  representation or warranty is made by the initial purchasers as
                  to the
                  accuracy or completeness of such materials. We have had access
                  to such
                  financial and other information concerning the Issuer and the Notes
                  as we
                  have deemed necessary in connection with our decision to purchase
                  any of
                  the Notes including an opportunity to ask questions of, and request
                  information from, the Issuer and the initial purchasers.
                  

              

      

       

      
        	 	
                4.

              	
                We
                  understand and agree that the offer and sale of the Notes have
                  not been
                  registered under the Securities Act and that such Notes are being
                  offered
                  only in a transaction not involving any public offering within
                  the meaning
                  of the Securities Act, and that (A) if we decide to resell, pledge
                  or
                  otherwise transfer such Notes on which a legend setting forth these
                  restrictions appears, such Notes may be resold, pledged or otherwise
                  transferred only (i) to the Issuer, (ii) in a transaction entitled
                  to an
                  exemption from registration provided by Rule 144 under the Securities
                  Act,
                  (iii) so long as such Notes are eligible for resale pursuant to
                  Rule 144A,
                  to a person whom we reasonably believe is a qualified institutional
                  buyer
                  that purchases for its own account or for the account of a qualified
                  institutional buyer to whom notice is given that the resale, pledge
                  or
                  other transfer is being made in reliance on Rule 144A, (iv) outside
                  the
                  United States in a transaction meeting the requirements of Regulation
                  S,
                  (v) in accordance with another exemption from the registration
                  requirements of the Securities Act (and based upon an opinion of
                  counsel
                  acceptable to the Issuer), in each case in accordance with any
                  applicable
                  securities laws of any state of the United States or (vi) pursuant
                  to a
                  registration statement which has been declared effective under
                  the
                  Securities Act and (B) we will, and each subsequent holder is required
                  to,
                  notify any purchaser of Notes from us or it of the resale restrictions
                  referred to in (A) above, if then applicable. We acknowledge that
                  the
                  foregoing restrictions apply to holders of beneficial interest
                  in the
                  Notes, as well as to holders of the Notes.

              

      

       

      
        	 	
                5.

              	
                We
                  understand that, on any proposed resale of any Notes, we will be
                  required
                  to furnish to the trustee and the Issuer such certifications, legal
                  opinions and other information as the trustee and the Issuer may
                  reasonably require to confirm that the proposed sale complies with
                  the
                  foregoing restrictions. We further understand that the Notes purchased
                  by
                  us will bear a legend to the foregoing effect.

              

      

       

      
        	 	
                6.

              	
                We
                  acknowledge that the Issuer, the trustee, the initial purchasers
                  and
                  others will rely upon the truth and accuracy of the foregoing
                  acknowledgements, representations and agreements and agree that
                  if any of
                  the foregoing acknowledgements, representations or agreements are
                  no
                  longer accurate, we shall promptly notify the Issuer, the trustee
                  and the
                  initial purchasers. If we are acquiring the Notes as a fiduciary
                  or agent
                  for one or more investor accounts, we represent that we have sole
                  investment discretion with respect to each such account and we
                  have full
                  power to make the foregoing acknowledgements, representations and
                  agreements on behalf of each account and that each such investor
                  account
                  is eligible to purchase the Notes.

              

      

      
        	 	
                7.

              	
                The
                  Issuer, the trustee and the initial purchasers are entitled to
                  rely upon
                  this letter and are irrevocably authorized to produce this letter
                  or a
                  copy hereof to any interested party in any administrative or legal
                  proceeding or official inquiry with respect to the matters covered
                  hereby.
                  

              

      

       

      Very
        truly yours,

      

      

      By:

      Name:

      Title:

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