Document:

exv4w1

 

Exhibit 4.1

UNITED DEFENSE INDUSTRIES, INC.

and

[                    ]

as Trustee

Guaranteed to the extent set forth therein by the Guarantors named herein.

INDENTURE

dated as of
_________, 2003

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page
	 	 	 	 	 	 	

	ARTICLE 1 DEFINITIONS AND INCORPORATION BY REFERENCE	 	 	1	 
	 
	Section 1.01	 	Certain Definitions
	 	 	1	 
	Section 1.02	 	Other Definitions
	 	 	4	 
	Section 1.03	 	Incorporation by Reference of Trust Indenture Act
	 	 	5	 
	Section 1.04	 	Rules of Construction
	 	 	6	 
	 
	ARTICLE 2 THE SECURITIES	 	 	6	 
	 
	Section 2.01	 	Unlimited In Amount, Issuable In Series, Form and Dating
	 	 	6	 
	Section 2.02	 	Execution and Authentication
	 	 	9	 
	Section 2.03	 	Registrar and Paying Agent
	 	 	9	 
	Section 2.04	 	Paying Agent to Hold Money in Trust
	 	 	10	 
	Section 2.05	 	Securityholder Lists
	 	 	10	 
	Section 2.06	 	Transfer and Exchange
	 	 	10	 
	Section 2.07	 	Replacement Securities
	 	 	11	 
	Section 2.08	 	Outstanding Securities
	 	 	11	 
	Section 2.09	 	Temporary Securities
	 	 	12	 
	Section 2.10	 	Cancellation
	 	 	12	 
	Section 2.11	 	Defaulted Interest
	 	 	12	 
	Section 2.12	 	Special Record Dates
	 	 	12	 
	Section 2.13	 	Global Securities
	 	 	13	 
	Section 2.14	 	CUSIP Numbers
	 	 	14	 
	 
	ARTICLE 3 REDEMPTION	 	 	14	 
	 
	Section 3.01	 	Notices to Trustee
	 	 	14	 
	Section 3.02	 	Selection of Securities to Be Redeemed
	 	 	15	 
	Section 3.03	 	Notice of Redemption
	 	 	15	 
	Section 3.04	 	Effect of Notice of Redemption
	 	 	16	 
	Section 3.05	 	Deposit of Redemption Price
	 	 	16	 
	Section 3.06	 	Securities Redeemed or Purchased in Part
	 	 	17	 
	 
	ARTICLE 4 COVENANTS	 	 	17	 
	 
	Section 4.01	 	Payment of Securities
	 	 	17	 
	Section 4.02	 	Maintenance of Office or Agency
	 	 	18	 
	Section 4.03	 	Reports
	 	 	18	 
	Section 4.04	 	Compliance Certificate
	 	 	19	 
	Section 4.05	 	Taxes
	 	 	19	 
	Section 4.06	 	Stay, Extension and Usury Laws
	 	 	19	 
	Section 4.07	 	Calculation of Original Issue Discount
	 	 	19	 
	 
	ARTICLE 5 SUCCESSORS	 	 	19	 

i

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Section 5.01	 	When Company May Merge, etc.
	 	 	19	 
	Section 5.02	 	Successor Person Substituted
	 	 	20	 
	 
	ARTICLE 6 DEFAULTS AND REMEDIES	 	 	20	 
	 
	Section 6.01	 	Events of Default
	 	 	20	 
	Section 6.02	 	Acceleration
	 	 	22	 
	Section 6.03	 	Other Remedies
	 	 	22	 
	Section 6.04	 	Waiver of Past Defaults
	 	 	22	 
	Section 6.05	 	Control by Majority
	 	 	23	 
	Section 6.06	 	Limitation on Suits
	 	 	23	 
	Section 6.07	 	Rights of Holders to Receive Payment
	 	 	24	 
	Section 6.08	 	Collection Suit by Trustee
	 	 	24	 
	Section 6.09	 	Trustee May File Proofs of Claim
	 	 	24	 
	Section 6.10	 	Priorities
	 	 	24	 
	Section 6.11	 	Undertaking for Costs
	 	 	25	 
	 
	ARTICLE 7 TRUSTEE	 	 	25	 
	 
	Section 7.01	 	Duties of Trustee
	 	 	25	 
	Section 7.02	 	Rights of Trustee
	 	 	25	 
	Section 7.03	 	Individual Rights of Trustee
	 	 	27	 
	Section 7.04	 	Trustee’s Disclaimer
	 	 	28	 
	Section 7.05	 	Notice of Defaults
	 	 	28	 
	Section 7.06	 	Reports by Trustee to Holders
	 	 	28	 
	Section 7.07	 	Compensation and Indemnity
	 	 	28	 
	Section 7.08	 	Replacement of Trustee
	 	 	29	 
	Section 7.09	 	Successor Trustee by Merger, etc.
	 	 	30	 
	Section 7.10	 	Eligibility; Disqualification
	 	 	30	 
	Section 7.11	 	Preferential Collection of Claims Against Company
	 	 	31	 
	 
	ARTICLE 8 SATISFACTION AND DISCHARGE; DEFEASANCE	 	 	31	 
	 
	Section 8.01	 	Satisfaction and Discharge
	 	 	31	 
	Section 8.02	 	Option to Effect Legal Defeasance or Covenant Defeasance
	 	 	32	 
	Section 8.03	 	Legal Defeasance and Discharge
	 	 	32	 
	Section 8.04	 	Covenant Defeasance
	 	 	32	 
	Section 8.05	 	Conditions to Legal or Covenant Defeasance
	 	 	33	 
	Section 8.06	 	Deposited Money and Government Securities to be Held
in Trust; Other Miscellaneous Provisions
	 	 	34	 
	Section 8.07	 	Repayment to Company
	 	 	35	 
	Section 8.08	 	Reinstatement
	 	 	35	 
	 
	ARTICLE 9 SUPPLEMENTS, AMENDMENTS AND WAIVERS	 	 	35	 
	 
	Section 9.01	 	Without Consent of Holders
	 	 	35	 
	Section 9.02	 	With Consent of Holders
	 	 	36	 
	Section 9.03	 	Revocation and Effect of Consents
	 	 	37	 

ii

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Section 9.04	 	Notation on or Exchange of Securities
	 	 	37	 
	Section 9.05	 	Trustee to Sign Amendments, etc.
	 	 	38	 
	 
	ARTICLE 10 GUARANTEES	 	 	38	 
	 
	Section 10.01	 	Guarantee
	 	 	38	 
	 
	ARTICLE 11 MISCELLANEOUS	 	 	38	 
	 
	Section 11.01	 	Indenture Subject to Trust Indenture Act
	 	 	38	 
	Section 11.02	 	Notices
	 	 	38	 
	Section 11.03	 	Communication By Holders With Other Holders
	 	 	39	 
	Section 11.04	 	Certificate and Opinion as to Conditions Precedent
	 	 	40	 
	Section 11.05	 	Statements Required in Certificate or Opinion
	 	 	40	 
	Section 11.06	 	Rules by Trustee and Agents
	 	 	40	 
	Section 11.07	 	Legal Holidays
	 	 	40	 
	Section 11.08	 	No Recourse Against Others
	 	 	41	 
	Section 11.09	 	Counterparts
	 	 	41	 
	Section 11.10	 	Governing Law
	 	 	41	 
	Section 11.11	 	Submission to Jurisdiction; Service of Process;
Waiver of Jury Trial
	 	 	41	 
	Section 11.12	 	Severability
	 	 	41	 
	Section 11.13	 	Effect of Headings, Table of Contents, etc.
	 	 	42	 
	Section 11.14	 	Successors and Assigns
	 	 	42	 
	Section 11.15	 	No Interpretation of Other Agreements
	 	 	42	 

iii

 

CROSS-REFERENCE TABLE*

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Trust Indenture	 	 	 	 
	Act Section	 	 	Indenture Section
	
	 	 	

	310
	 	(a	)	(1)		 	 	 	 	7.10	 
	 
	 	 	(a	)	(2)		 	 	 	 	7.10	 
	 
	 	 	(a	)	(3)		 	 	 	 	N.A.	 
	 
	 	 	(a	)	(4)		 	 	 	 	N.A.	 
	 
	 	 	(a	)	(5)		 	 	 	 	7.10	 
	 
	 	 	(b	)	 	 	 	 	 	 	7.03, 7.08; 7.10	 
	 
	 	 	(c	)	 	 	 	 	 	 	N.A.	 
	311
	 	(a	)	 	 	 	 	 	 	7.11	 
	 
	 	 	(b	)	 	 	 	 	 	 	7.11	 
	 
	 	 	(c	)	 	 	 	 	 	 	N.A.	 
	312
	 	(a	)	 	 	 	 	 	 	2.05	 
	 
	 	 	(b	)	 	 	 	 	 	 	11.03	 
	 
	 	 	(c	)	 	 	 	 	 	 	11.03	 
	313
	 	(a	)	 	 	 	 	 	 	7.06	 
	 
	 	 	(b	)	(1)		 	 	 	 	N.A.	 
	 
	 	 	(b	)	(2)		 	 	 	 	7.06	 
	 
	 	 	(c	)	 	 	 	 	 	 	7.06; 11.02	 
	 
	 	 	(d	)	 	 	 	 	 	 	7.06	 
	314
	 	(a	)	 	 	 	 	 	 	4.03; 10.02; 11.05	 
	 
	 	 	(b	)	 	 	 	 	 	 	N.A.	 
	 
	 	 	(c	)	(1)		 	 	 	 	11.04	 
	 
	 	 	(c	)	(2)		 	 	 	 	11.04	 
	 
	 	 	(c	)	(3)		 	 	 	 	N.A.	 
	 
	 	 	(d	)	 	 	 	 	 	 	N.A.	 
	 
	 	 	(e	)	 	 	 	 	 	 	11.05	 
	 
	 	 	(f	)	 	 	 	 	 	 	N.A.	 
	315
	 	(a	)	 	 	 	 	 	 	7.01(b)(ii), 7.02	 
	 
	 	 	(b	)	 	 	 	 	 	 	7.02, 7.05; 10.02	 
	 
	 	 	(c	)	 	 	 	 	 	 	7.01(a), 7.02	 
	 
	 	 	(d	)	 	 	 	 	 	 	7.01(d), 7.02	 
	 
	 	 	(e	)	 	 	 	 	 	 	6.11	 
	316
	 	(a	)	(last sentence)	 	 	 	 	2.13	(f)
	 
	 	 	(a	)	(1)(A)		 	 	 	 	6.05	 
	 
	 	 	(a	)	(1)(B)		 	 	 	 	6.04	 
	 
	 	 	(a	)	(2)		 	 	 	 	N.A.	 
	 
	 	 	(b	)	 	 	 	 	 	 	6.07	 
	 
	 	 	(c	)	 	 	 	 	 	 	2.12; 9.03	 
	317
	 	(a	)	(1)		 	 	 	 	6.08	 
	 
	 	 	(a	)	(2)		 	 	 	 	6.09	 
	 
	 	 	(b	)	 	 	 	 	 	 	2.04	 
	318
	 	(a	)	 	 	 	 	 	 	11.01	 
	 
	 	 	(b	)	 	 	 	 	 	 	N.A.	 
	 
	 	 	(c	)	 	 	 	 	 	 	11.01	 

N.A. means not applicable.

*  This Cross-Reference
Table is not part of the Indenture.

 

 

     INDENTURE
dated as of _________, 2003 by and among United Defense
Industries, Inc., a Delaware corporation (the “Company”), the guarantors listed
on Schedule 1 hereto (herein called the “Guarantors”)
and
              , as
Trustee (the “Trustee”).

     The Company has duly authorized the execution and delivery of this
Indenture to provide for the issuance from time to time of its debentures,
notes or other evidences of indebtedness to be issued in one or more series
(the “Securities”), as herein provided, up to such principal amount as may from
time to time be authorized in or pursuant to one or more resolutions of the
Board of Directors or by supplemental indenture.

     Each party agrees as follows for the benefit of the other parties and for
the equal and ratable benefit of the Holders of each series of the Securities:

ARTICLE 1

DEFINITIONS AND INCORPORATION

BY REFERENCE

Section 1.01 Certain Definitions.

     “Affiliate” of any specified Person means any other Person directly or
indirectly controlling or controlled by or under direct or indirect common
control with such specified Person. For purposes of this definition,
“control,” as used with respect to any Person, shall mean the possession,
directly or indirectly, of the power to direct or cause the direction of the
management or policies of such Person, whether through the ownership of voting
securities, by agreement or otherwise; provided, however, that beneficial
ownership of 10% or more of the Voting Securities of a Person shall be deemed
to be a controlling interest in such Person. For purposes of this definition,
the terms “controlling,” “controlled by” and “under common control with” have
correlative meanings.

     “Agent” means any Registrar, Paying Agent, authenticating agent or
co-Registrar.

     “Board of Directors” means, with respect to any Person, the board of
directors of such Person (or, if such Person is a limited liability company,
the board of managers of such Person) or similar governing body or any
authorized committee thereof.

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

     “Business Day” means any day other than a Legal Holiday.

     “Closing Date” means the date on which the Securities of a particular
series were originally issued under this Indenture.

     “Commission” means the Securities and Exchange Commission.

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     “Company” means the party named as such above until a successor replaces
it pursuant to this Indenture and thereafter means the successor.

     “Company Order” means a written order signed in the name of the Company by
two Officers, one of whom must be the Company’s principal executive officer,
principal financial officer or principal accounting officer and delivered to
the Trustee.

     “Company Request” means a written request signed in the name of the
Company by its Chairman of the Board, a President or a Vice President, and by
its Treasurer, an Assistant Treasurer, its Secretary or an Assistant Secretary,
and delivered to the Trustee.

     “Corporate Trust Office” shall mean the corporate trust office of the
Trustee, which shall initially be
[               ].

     “Default” means any event that is, or with the passage of time or the
giving of notice or both would be, an Event of Default.

     “Depositary” means, with respect to the Securities of any series issuable
or issued in whole or in part in the form of one or more Global Securities, the
person designated as Depositary for such series by the Company, which
Depositary shall be a clearing agency registered under the Exchange Act; and if
at any time there is more than one such person, “Depositary” as used with
respect to the Securities of any series shall mean the Depositary with respect
to the Securities of such series.

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

     “GAAP” means generally accepted accounting principles set forth in the
opinions and pronouncements of the Accounting Principles Board of the American
Institute of Certified Public Accountants and statements and pronouncements of
the Financial Accounting Standards Board or in such other statements by such
other entity as have been approved by a significant segment of the accounting
profession, which are applicable to the circumstances as of the Closing Date.

     “Global Security” shall mean a Security issued to evidence all or a part
of any series of Securities that is executed by the Company and authenticated
and delivered by the Trustee to a Depositary or pursuant to such Depositary’s
instructions, all in accordance with this Indenture and pursuant to Section
2.01, which shall be registered as to principal and interest in the name of
such Depositary or its nominee.

     “Guarantee” means a guarantee by any Guarantor of an obligation under this
Indenture.

     “Holder” or “Securityholder” means a Person in whose name a Security is
registered in the register of Securities kept by the Registrar.

     “Indenture” means this Indenture, as amended or supplemented from time to
time.

2

 

     “Interest” when used with respect to an Original Issue Discount Security
that by its terms bears interest only after Maturity, means interest payable
after Maturity.

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

     “Officer” means, with respect to any Person, the Chairman of the Board, a
Chief Executive Officer, the President, the Chief Operating Officer, the Chief
Financial Officer, any Vice-President, the Treasurer, the Controller, the
Secretary, any Assistant Treasurer or any Assistant Secretary of such Person.

     “Officers’ Certificate” means a certificate signed by two or more
Officers, one of whom must be the principal executive officer, principal
financial officer or principal accounting officer of the Company that meets the
requirements of Section 11.05 hereof.

     “Opinion of Counsel” means an opinion from legal counsel who is reasonably
acceptable to the Trustee that meets the requirements of Section 11.05 hereof.
The counsel may be an employee of or counsel to the Company or the Trustee.

     “Original Issue Discount Security” means any Security which provides that
an amount less than its principal amount is due and payable upon acceleration
after an Event of Default.

     “Person” means any individual, corporation, partnership, joint venture,
association, limited liability company, joint stock company, trust,
unincorporated organization or government or other entity.

     “principal” of a Security means the principal amount due on the Stated
Maturity of the Security plus the premium, if any, on the Security.

     “Securities” means the Securities authenticated and delivered under this
Indenture.

     “Securities Act” means the Securities Act of 1933, as amended from time to
time.

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

     “Subsidiary” means, with respect to any specified Person: (i) any
corporation, association or other business entity of which more than 50% of the
total voting power of shares of Capital Stock entitled (without regard to the
occurrence of any contingency) to vote in the election of directors, managers
or trustees of the corporation, association or other business entity is at the
time owned or controlled, directly or indirectly, by that Person or one or more
of the other Subsidiaries of that Person (or a combination thereof); and (ii)
any partnership (a) the sole general partner or the managing general partner of
which is such Person or a Subsidiary of such

3

 

Person or (b) the only general
partners of which are that Person or one or more Subsidiaries of that Person
(or any combination thereof).

     “TIA” means the Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb) as
in effect on the date on which this Indenture is qualified under the TIA
provided, however, that in the event the TIA is amended after such date, “TIA”
means, to the extent required by such amendment, the Trust Indenture Act, as
amended.

     “Trust Officer” when used with respect to the Trustee, means any officer
with direct responsibility for the administration of this Indenture and also
means, with respect to a particular corporate trust matter, any other officer
to whom such matter is referred because of his knowledge of and familiarity
with the particular subject.

     “Trustee” means the party named as such above until a successor becomes
such pursuant to this Indenture and thereafter means or includes each party who
is then a trustee hereunder, and if at any time there is more than one such
party, “Trustee” as used with respect to the Securities of any series means the
Trustee with respect to Securities of that series. If Trustees with respect to
different series of Securities are trustees under this Indenture, nothing
herein shall constitute the Trustees co-trustees of the same trust, and each
Trustee shall be the trustee of a trust separate and apart from any trust
administered by any other Trustee with respect to a different series of
Securities.

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

Section 1.02 Other Definitions.

	 	 	 	 	 
	Term	 	Defined in Section
	
	 	

	“Bankruptcy Law”
	 	 	6.01	 
	“Custodian”
	 	 	6.01	 
	“Event of Default”
	 	 	6.01	 
	“Legal Holiday”
	 	 	11.07	 
	“Paying Agent”
	 	 	2.03	 
	“Place of Payment”
	 	 	2.01	 
	“redemption price”
	 	 	3.03	 
	“Registrar”
	 	 	2.03	 

4

 

Section 1.03 Incorporation by Reference of Trust Indenture Act.

     Whenever this Indenture refers to a provision of the TIA, the provision is
incorporated by reference in and made a part of this Indenture. The following
TIA terms used in this Indenture have the following meanings:

     “indenture securities” means the Securities.

     “indenture securityholder” means a Securityholder.

     “indenture to be qualified” means this Indenture.

     “indenture trustee” or “institutional trustee” means the Trustee.

     “obligor” on the Securities means the Company and any Guarantor and any
successor obligor on the Securities.

     All other terms used in this Indenture that are defined by the TIA,
defined by TIA reference to another statute or defined by Commission rule under
the TIA have the meanings so assigned to them.

Section 1.04 Rules of Construction.

     Unless the context otherwise requires:

	 	(i)	 	a term has the
meaning assigned to it;
	 
	 	(ii)	 	an accounting term
not otherwise defined has the meaning
assigned to it in accordance with GAAP;
	 
	 	(iii)	 	“or” is not
exclusive;
	 
	 	(iv)	 	words in the
singular include the plural, and in the
plural include the singular;
	 
	 	(v)	 	provisions apply
to successive events and transactions; and
	 
	 	(vi)	 	references to
sections of or rules under the Securities
Act shall be deemed to include substitute,
replacement of successor sections or rules
adopted by the SEC from time to time.

5

 

ARTICLE 2

THE SECURITIES

Section 2.01 Unlimited In Amount, Issuable In Series, Form and Dating.

     The aggregate principal amount of Securities that may be authenticated and
delivered under this Indenture is unlimited. The Securities may be issued in
one or more series. There shall be established in or pursuant to a Board
Resolution or an Officers’ Certificate pursuant to authority granted under a
Board Resolution or established in one or more indentures supplemental hereto,
prior to the issuance of Securities of any series:

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

     (b)  any limit upon the aggregate principal amount of Securities of
the series that may be authenticated and delivered under this Indenture
(except for Securities authenticated and delivered upon registration of
transfer of, or in exchange for, or in lieu of, other Securities of the
series pursuant to this Article 2);

     (c)  the price or prices (expressed as a percentage of the aggregate
principal amount thereof) at which the Securities of the series will be
issued;

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

     (e)  the rate or rates that may be fixed or variable at which the
Securities of the series shall bear interest, if any, or the manner in
which such rate or rates shall be determined, the date or dates from
which such interest shall accrue, the interest payment dates on which
such interest shall be payable and the record dates for the
determination of Holders to whom interest is payable;

     (f)  the place or places where the principal of, premium, if any,
and any interest, if any, on Securities of the series shall be payable
or the method of such payment, if by wire transfer, mail or by other
means, if other than as provided herein;

     (g)  the price or prices at which (if any), the period or periods
within which (if any) and the terms and conditions upon which (if other
than as provided herein) Securities of the series may be redeemed, in
whole or in part, at the option, or as an obligation, of the Company;

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

6

 

     (i)  the dates, if any, on which, and the price or prices at which,
the Securities of the series will be repurchased by the Company at the
option of the Holders thereof and other detailed terms and provisions of
such repurchase obligations;

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

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

     (l)  any addition to, change in or deletion from the covenants set
forth in Articles 4 or 5 that applies to Securities of the series;

     (m)  any addition to, changes in or deletion from the Events of
Default with respect to the Securities of a particular series and any
change in the right of the Trustee or the requisite Holders of such
Securities to declare the principal amount thereof due and payable
pursuant to Section 6.02 hereof;

     (n)  the Trustee for the series of Securities;

     (o)  the forms of the Securities of the series in bearer or fully
registered form (and, if in fully registered form, whether the
Securities will be issuable, in whole or in part, as Global Securities);

     (p)  whether the Securities of the series shall be issued in whole
or in part in the form of a Global Security or Securities; the terms and
conditions, if any, upon which such Global Security or Securities may be
exchanged in whole or in part for other individual Securities, and the
Depositary for such Global Security and Securities;

     (q)  the provisions, if any, relating to any security provided for
the Securities of the series;

     (r)  any other terms of the series (which terms may modify,
supplement or delete any provision of this Indenture with respect to
such series; provided, however, that no such term may modify or delete
any provision hereof if imposed by the TIA; and provided, further, that
any modification or deletion of the rights, duties or immunities of the
Trustee hereunder shall have been consented to in writing by the
Trustee);

     (s)  the terms and conditions, if any, upon which the Securities of
the series shall be exchanged for or converted into other securities of
the Company or securities of another person;

     (t)  any depositories, interest rate calculation agents or other
agents with respect to Securities of such series if other than those
appointed herein;

7

 

     (u)  whether the Securities rank as senior subordinated Securities
or subordinated Securities or any combination thereof and the terms of
any such subordination;

     (v)  the form and terms of any guarantee of any Securities of the
series;

     (w)  the currency of denomination of the debt securities;

     (x)  the designation of the currency, currencies or currency units
in which payment of principal of, premium and interest on the debt
securities will be made;

     (y)  if payments of principal of, premium or interest on the debt
securities will be made in one or more currencies or currency units
other than that or those in which the debt securities are denominated,
the manner in which the exchange rate with respect to these payments
will be determined; and

     (z)  the manner in which the amounts of payment of principal of,
premium or interest on the debt securities will be determined, if these
amounts may be determined by reference to an index based on a currency
or currencies other than that in which the debt securities are
denominated or designated to be payable or by reference to a commodity,
commodity index, stock exchange index or financial index.

     All Securities of any series shall be substantially identical except as to
denomination and except as may otherwise be provided in or pursuant to such
Board Resolution or Officers’ Certificate or in any such indenture supplemental
hereto.

     The principal of and any interest on the Securities shall be payable at
the office or agency of the Company designated in the form of Security for the
series (each such place herein called the “Place of Payment”); provided,
however, that payment of interest may be made at the option of the Company by
check mailed to the address of the Person entitled thereto as such address
shall appear in the register of Securities referred to in Section 2.03 hereof.

     Each Security shall be in one of the forms approved from time to time by
or pursuant to a Board Resolution or Officers’ Certificate, or established in
one or more indentures supplemental hereto. Prior to the delivery of a
Security to the Trustee for authentication in any form approved by or pursuant
to a Board Resolution or Officers’ Certificate, the Company shall deliver to
the Trustee the Board Resolution or Officers’ Certificate by or pursuant to
which such form of Security has been approved, which Board Resolution or
Officers’ Certificate shall have attached thereto a true and correct copy of
the form of Security that has been approved by or pursuant thereto.

     The Securities may have notations, legends or endorsements required by
law, stock exchange rule or usage. Each Security shall be dated the date of
its authentication.

8

 

Section 2.02 Execution and Authentication.

     One or more Officers shall sign the Securities for the Company by manual
or facsimile signature.

     If an Officer whose signature is on a Security no longer holds that office
at the time the Security is authenticated, the Security shall nevertheless be
valid.

     A Security shall not be valid until authenticated by the manual signature
of the Trustee. The signature shall be conclusive evidence that the Security
has been authenticated under this Indenture.

     The Trustee shall authenticate Securities for original issue upon receipt
of a Company Order.

     The Trustee may appoint an authenticating agent acceptable to the Company
to authenticate Securities. An authenticating agent may authenticate
Securities whenever the Trustee may do so. Each reference in this Indenture to
authentication by the Trustee includes authentication by such agent. An
authenticating agent has the same rights as an Agent to deal with the Company
or an Affiliate of the Company.

Section 2.03 Registrar and Paying Agent.

     The Company shall maintain an office or agency where Securities of a
particular series may be presented for registration of transfer or for exchange
(the “Registrar”) and an office or agency where Securities of that series may
be presented for payment (a “Paying Agent”). The Registrar for a particular
series of Securities shall keep a register of the Securities of that series and
of their registration of transfer and exchange. The Company may appoint one or
more co-Registrars and one or more additional paying agents for each series of
Securities. The term “Paying Agent” includes any additional paying agent. The
Company may change any Paying Agent, Registrar or co-Registrar without prior
notice to any Securityholder. The Company shall notify the Trustee in writing
of the name and address of any Agent not a party to this Indenture.

     If the Company fails to maintain a Registrar or Paying Agent for any
series of Securities, the Trustee shall act as such. The Company or any of its
Affiliates may act as Paying Agent, Registrar or co-Registrar.

     The Company hereby appoints the Trustee the initial Registrar and Paying
Agent for each series of Securities unless another Registrar or Paying Agent,
as the case may be, is appointed prior to the time Securities of that series
are first issued.

9

 

Section 2.04 Paying Agent to Hold Money in Trust.

     Whenever the Company has one or more Paying Agents it will, prior to each
due date of the principal of or interest on, any Securities, deposit with a
Paying Agent a sum sufficient to pay the principal or interest so becoming due,
such sum to be held in trust for the benefit of the Persons entitled to such
principal or interest, and (unless such Paying Agent is the Trustee) the
Company will promptly notify the Trustee of its action or failure so to act.

     The Company shall require each Paying Agent other than the Trustee to
agree in writing that such Paying Agent will hold in trust for the benefit of
the Securityholders of the particular series for which it is acting, or the
Trustee, all money held by the Paying Agent for the payment of principal or
interest on the Securities of such series, and that such Paying Agent will
notify the Trustee of any Default by the Company or any other obligor of the
series of Securities in making any such payment and at any time during the
continuance of any such Default, upon the written request of the Trustee,
forthwith pay to the Trustee all sums so held in trust by such Paying Agent.
If the Company or an Affiliate acts as Paying Agent, it shall segregate and
hold in a separate trust fund for the benefit of the Securityholders of the
particular series for which it is acting all money held by it as Paying Agent.
The Company at any time may require a Paying Agent to pay all money held by it
to the Trustee. Upon so doing, the Paying Agent (if other than the Company or
an Affiliate of the Company) shall have no further liability for such money.
Upon any bankruptcy or reorganization proceedings relating to the Company, the
Trustee shall serve as Paying Agent for the Securities.

Section 2.05 Securityholder Lists.

     The Trustee shall preserve in as current a form as is reasonably
practicable the most recent list available to it of the names and addresses of
Securityholders, separately by series, and shall otherwise comply with TIA
Section 312(a). If the Trustee is not the Registrar, the Company shall furnish
to the Trustee at least seven Business Days before each interest payment date
and at such other times as the Trustee may request in writing, a list in such
form and as of such date as the Trustee may reasonably require of the names and
addresses of Securityholders, separately by series, relating to such interest
payment date or request, as the case may be.

Section 2.06 Transfer and Exchange.

     Where Securities of a series are presented to the Registrar or a
co-Registrar with a request to register a transfer or to exchange them for an
equal principal amount of Securities of the same series of other authorized
denominations, the Registrar shall register the transfer or make the exchange
if its requirements for such transactions are met. To permit registrations of
transfers and exchanges, the Company shall issue and the Trustee shall
authenticate Securities at the Registrar’s request.

     No service charge shall be made for any registration of transfer or
exchange, but the Company may require payment of a sum sufficient to cover any
transfer tax or similar

10

 

governmental charge payable in connection therewith
(other than any such transfer tax or similar governmental charge payable upon
exchanges pursuant to Sections 2.09, 2.13, 3.06 or 9.04).

     The Company need not issue, and the Registrar or co-Registrar need not
register the transfer or exchange of, (i) any Security of a particular series
during a period beginning at the opening of business 15 days before the day of
any selection of Securities of that series for redemption under Section 3.02
and ending at the close of business on the day of selection, or (ii) any
Security so selected for redemption in whole or in part, except the unredeemed
portion of any Security of that series being redeemed in part.

Section 2.07 Replacement Securities.

     If a mutilated Security is surrendered to the Trustee or if the Holder of
a Security claims that the Security has been lost, destroyed or wrongfully
taken, the Company shall issue and the Trustee shall authenticate a replacement
Security of same series if the Company’s and the Trustee’s requirements are
met. The Trustee or the Company may require an indemnity bond to be furnished
which is sufficient in the judgment of both to protect the Company, the
Trustee, and any Agent from any loss which any of them may suffer if a Security
is replaced. The Company or the Trustee may charge such Holder for its
expenses in replacing a Security.

     Every replacement Security is an obligation of the Company and shall be
entitled to all the benefit of the Indenture equally and proportionately with
any and all other Securities of the same series.

Section 2.08 Outstanding Securities.

     The Securities of any series outstanding at any time are all the
Securities of that series authenticated by the Trustee except for those
canceled by it, those delivered to it for cancellation, and those described in
this Section as not outstanding.

     If a Security is replaced pursuant to Section 2.07, it ceases to be
outstanding unless the Trustee receives proof satisfactory to it that the
replaced Security is held by a protected purchaser.

     If Securities are considered paid under Section 4.01, they cease to be
outstanding and interest on them ceases to accrue.

     Except as set forth in Section 2.09 hereof, a Security does not cease to
be outstanding because the Company or an Affiliate holds the Security.

     For each series of Original Issue Discount Securities, the principal
amount of such Securities that shall be deemed to be outstanding and used to
determine whether the necessary Holders have given any request, demand,
authorization, direction, notice, consent or waiver shall be the principal
amount of such Securities that could be declared to be due and payable upon
acceleration upon an Event of Default as of the date of such determination.
When requested by the Trustee, the Company shall advise the Trustee of such
amount, showing its computations in reasonable detail.

11

 

Section 2.09 Temporary Securities.

     Until definitive Securities are ready for delivery, the Company may
prepare and the Trustee shall authenticate temporary Securities upon a Company
Order. Temporary Securities shall be substantially in the form of definitive
Securities but may have variations that the Company considers appropriate for
temporary Securities. Without unreasonable delay, the Company shall prepare
and the Trustee shall authenticate definitive Securities in exchange for
temporary Securities.

     Holders of temporary securities shall be entitled to all of the benefits
of this Indenture.

Section 2.10 Cancellation.

     The Company at any time may deliver Securities to the Trustee for
cancellation. The Registrar and Paying Agent shall forward to the Trustee any
Securities surrendered to them for registration of transfer, exchange or
payment. The Trustee shall cancel all Securities surrendered for registration
of transfer, exchange, payment, replacement or cancellation and shall return
such canceled Securities to the Company at the Company’s written request. The
Company may not issue new Securities to replace Securities that it has paid or
that have been delivered to the Trustee for cancellation.

Section 2.11 Defaulted Interest.

     If the Company fails to make a payment of interest on any series of
Securities, the Company shall pay such defaulted interest plus (to the extent
lawful) any interest payable on the defaulted interest, in any lawful manner.
It may elect to pay such defaulted interest, plus any such interest payable on
it, to the Persons who are Holders of such Securities on which the interest is
due on a subsequent special record date. 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. The Company shall fix or cause
to be fixed any such record date and payment date for such payment, provided
that no such special record date shall be less than 10 days prior to the
related payment date for such defaulted interest. At least 15 days before any
such record date, the Company shall mail to Securityholders affected thereby a
notice that states the record date, payment date, and amount of such interest
to be paid.

Section 2.12 Special Record Dates.

     (a)  The Company may, but shall not be obligated to, set a record
date for the purpose of determining the identity of Holders entitled to
consent to any supplement, amendment or waiver permitted by this
Indenture. If a record date is fixed, the Holders of Securities of that
series outstanding on such record date, and no other Holders, shall be
entitled to consent to such supplement, amendment or waiver or revoke
any consent previously given, whether or not such Holders remain Holders
after such record date. No consent shall be valid or effective for more
than 90 days after such record date unless consents from Holders of the
principal amount of Securities of that series required hereunder for
such amendment or waiver to be effective shall have also been given and
not revoked within such 90-day period.

12

 

     (b)  The Company may, but shall not be obligated to, fix any day as
a record date for the purpose of determining the Holders of any series
of Securities entitled to join in the giving or making of any notice of
Default, any declaration of acceleration, any request to institute
proceedings or any other similar direction. If a record date is fixed,
the Holders of Securities of that series outstanding on such record
date, and no other Holders, shall be entitled to join in such notice,
declaration, request or direction, whether or not such Holders remain
Holders after such record date; provided, however, that no such action
shall be effective hereunder unless taken on or prior to the date 90
days after such record date.

Section 2.13 Global Securities.

     (a)  Terms of Securities. A Board Resolution, a supplemental
indenture hereto or an Officers’ Certificate shall establish whether the
Securities of a series shall be issued in whole or in part in the form
of one or more Global Securities and the Depositary for such Global
Security or Securities.

     (b)  Transfer and Exchange. Notwithstanding any provisions to the
contrary contained in Section 2.06 of this Indenture and in addition
thereto, any Global Security shall be exchangeable pursuant to Section
2.06 of this Indenture for securities registered in the names of Holders
other than the Depositary for such Security or its nominee only if (i)
such Depositary notifies the Company that it is unwilling or unable to
continue as Depositary for such Global Security or if at any time such
Depositary ceases to be a clearing agency registered under the Exchange
Act, and, in either case, the Company fails to appoint a successor
Depositary within 90 days of such event or (ii) the Company executes and
delivers to the Trustee an Officers’ Certificate to the effect that such
Global Security shall be so exchangeable. Any Global Security that is
exchangeable pursuant to the preceding sentence shall be exchangeable
for Securities registered in such names as the Depositary shall direct
in writing in an aggregate principal amount equal to the principal
amount of the Global Security with like tenor and terms.

     Except as provided in this paragraph (b) of this Section, a Global
Security may not be transferred except as a whole by the Depositary with
respect to such Global Security to a nominee of such Depositary, by a nominee
of such Depositary to such Depositary or another nominee of such Depositary or
by the Depositary or any such nominee to a successor Depositary or a nominee of
such a successor Depositary.

     (c)  Legend. Any Global Security issued hereunder shall bear a
legend in substantially the following form:

		
	 	     “Unless this certificate is presented by an authorized
representative of The Depository Trust Company, a New York
corporation (“DTC”), New York, New York, to the issuer or
its agent for registration of transfer, exchange or payment,
and any certificate issued is registered in the name of Cede
& Co. or such other name as may be requested by an
authorized representative of DTC (and any payment is made to
Cede & Co. or such other entity as may be requested by an
authorized representative of DTC), 

13

 

		
	 	ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL inasmuch as the registered owner hereof, Cede &
Co. has an interest herein.”

		
	 	     “Transfer 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
limited to transfers made in accordance with the
restrictions set forth in the Indenture referred to herein.”

     (d)  Acts of Holders. The Depositary, as a Holder, may appoint
agents and otherwise authorize participants to give or take any request,
demand, authorization, direction, notice, consent, waiver or other
action which a Holder is entitled to give or take under this Indenture.

     (e)  Payments. Notwithstanding the other provisions of this
Indenture, unless otherwise specified as contemplated by Section 2.01
hereof, payment of the principal of and interest, if any, on any Global
Security shall be made to the Person specified therein.

     (f)  Consents, Declaration and Directions. Except as provided in
paragraph (e) of this Section, the Company, the Trustee and any Agent
shall treat a Person as the Holder of such principal amount of
outstanding Securities of such series represented by a Global Security
as shall be specified in a written statement of the Depositary with
respect to such Global Security, for purposes of obtaining any consents,
declarations or directions required to be given by the Holders pursuant
to this Indenture.

Section 2.14 CUSIP Numbers.

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

ARTICLE 3

REDEMPTION

Section 3.01 Notices to Trustee.

     If the Company elects to redeem Securities of any series pursuant to any
optional redemption provisions thereof, it shall furnish to the Trustee at
least 30 days, but not more than 60 days before a redemption date, an Officer’s
Certificate which shall specify (i) the provisions of such Security or this
Indenture pursuant to which the redemption shall occur, (ii) the

14

 

redemption date, (iii) the principal amount of Securities of that series to be redeemed
and (iv) the redemption price.

     If the Company elects to reduce the principal amount of Securities of any
series to be redeemed pursuant to mandatory redemption provisions thereof, it
shall notify the Trustee of the amount of, and the basis for, any such
reduction. If the Company elects to credit against any such mandatory
redemption Securities it has not previously delivered to the Trustee for
cancellation, it shall deliver such Securities with such notice.

Section 3.02 Selection of Securities to Be Redeemed.

     If less than all the Securities of any series are to be redeemed, or
purchased in an offer to purchase at any time, the Trustee shall select the
Securities of that series to be redeemed or purchased as follows: (1) if the
Securities of such series are listed on any national securities exchange, in
compliance with the requirements of the principal national securities exchange
on which the Securities of that series are listed, or, (2) if the Securities of
that series are not listed on a national securities exchange, on a pro rata
basis, by lot or by such other method as the Trustee deems fair and
appropriate. In the event of a partial redemption or purchase by lot, the
particular Securities to be redeemed or purchased will be selected not less
than 30 nor more than 60 days prior to the redemption or purchase date by the
Trustee from Securities of that series outstanding and not previously called
for redemption.

     The Trustee shall notify the Company promptly in writing of the Securities
or portions of Securities to be called for redemption or purchase and, in the
case of any Securities selected for partial redemption or purchase, the
principal amount thereof to be redeemed or purchased. Except as otherwise
provided as to any particular series of Securities, Securities and portions
thereof that the Trustee selects shall be in amounts equal to the minimum
authorized denomination for Securities of the series to be redeemed or
purchased or any integral multiple thereof, except that if all of the
Securities of the series are to be redeemed or purchased, the entire
outstanding amount of the Securities of the series held by such Holder, even if
not equal to the minimum authorized denomination for the Securities of that
series, shall be redeemed or purchased. Provisions of this Indenture that
apply to Securities called for redemption also apply to portions of Securities
called for redemption.

Section 3.03 Notice of Redemption.

     Except as otherwise provided as to any particular series of Securities, at
least 30 days but not more than 60 days before a redemption date, the Company
shall mail a notice of redemption to each Holder whose Securities are to be
redeemed.

     The notice shall identify the Securities of the series to be redeemed and
shall state:

		
	 	     (1) the redemption date;
	 
	 	     (2) the redemption price fixed in accordance with the terms of the
Securities of the series to be redeemed, plus accrued interest, if any,
to the date fixed for redemption (the “redemption price”);

15

 

		
	 	     (3) if any Security is being redeemed in part, the portion of the
principal amount of such Security to be redeemed and that, after the
redemption date, upon surrender of such Security, a new Security or
Securities in principal amount equal to the unredeemed portion will be
issued upon cancellation of the original Securities;
	 
	 	     (4) the name and address of the Paying Agent;
	 
	 	     (5) that Securities called for redemption must be surrendered to
the Paying Agent to collect the redemption price;
	 
	 	     (6) that, unless the Company defaults in payment of the redemption
price, interest on Securities called for redemption ceases to accrue on
and after the redemption date;
	 
	 	     (7) the CUSIP number,
if any, of the Securities to be redeemed;
	 
	 	     (8) the paragraph of the Securities and/or the section of the
Indenture pursuant to which the Securities called for redemption are
being redeemed; and
	 
	 	     (9) that no representation is made as to the correctness or
accuracy of the CUSIP number, if any, listed in such notice or printed
on the Securities.

     At the Company’s request, the Trustee shall give the notice of redemption
in the Company’s name and at its expense, provided, however, that the Company
shall have delivered to the Trustee, at least 45 days prior to the redemption
date, an Officers’ Certificate requesting that the Trustee give such notice and
setting forth the information to be stated in such notice as provided in the
preceding paragraph. The notice mailed in the manner herein provided shall be
conclusively presumed to have been duly given whether or not the Holder
receives such notice. In any case, failure to give such notice by mail or any
defect in the notice of the Holder of any Security shall not affect the
validity of the proceeding for the redemption of any other Security.

Section 3.04 Effect of Notice of Redemption.

     Except if the giving of a notice of redemption would violate the terms of
the Company’s credit agreement, and subject to the subordination provisions of
any series of Securities, once notice of redemption is mailed in accordance
with Section 3.03 hereof, Securities called for redemption become due and
payable on the redemption date for the redemption price. Upon surrender to the
Paying Agent, such Securities will be paid at the Redemption Price.

Section 3.05 Deposit of Redemption Price.

     On or before 10:00 a.m., New York City time, on the redemption or purchase
date, the Company shall deposit with the Trustee or Paying Agent (or, if the
Company or any Affiliate is the Paying Agent, shall segregate and hold in
trust) money sufficient to pay the redemption or purchase price of all
Securities called for redemption on that date other than

16

 

Securities that have previously been delivered by the Company to the Trustee for cancellation. The
Paying Agent shall return to the Company any money not required for that
purpose.

     If the Company complies with the provisions of the preceding paragraph, on
and after the redemption or purchase date, interest shall cease to accrue on
the Securities (or the portions thereof) called for redemption or purchase. If
a Security is redeemed or purchased on or after an interest record date but on
or prior to the related interest payment date, then any accrued and unpaid
interest shall be paid to the Person in whose name such Securities were
registered at the close of business on such record date. If any Securities
called for redemption or purchase shall not be so paid upon surrender for
redemption because of the failure of the Company to comply with the preceding
paragraph, interest shall be paid on the unpaid principal, from the redemption
or purchase date until such principal is paid, and to the extent lawful on any
interest not paid on such unpaid principal, in each case at the rate provided
in accordance with the terms of the Securities of the series to be redeemed.

Section 3.06 Securities Redeemed or Purchased in Part.

     Upon surrender of a Security that is redeemed or purchased in part, the
Company shall issue and the Trustee shall authenticate for the Holder at the
expense of the Company a new Security of same series equal in principal amount
to the unredeemed or unpurchased portion of the Security surrendered.

ARTICLE 4

COVENANTS

Section 4.01 Payment of Securities.

     The Company shall pay or cause to be paid the principal of, premium, if
any, and interest on the Securities on the dates and in the manner provided in
this Indenture and the Securities. Principal, premium, if any, and interest
shall be considered paid on the date due if the Paying Agent, if other than the
Company or an Affiliate, holds as of 10:00 a.m., New York City time, on that
date immediately available funds designated for and sufficient to pay all
principal, premium, if any, and interest then due.

     To the extent lawful, the Company shall pay interest on overdue principal
and overdue installments of interest at the rate per annum borne by the
applicable series of Securities.

Section 4.02 Maintenance of Office or Agency.

     The Company shall maintain in the Borough of Manhattan, The City of New
York, an office or agency (which may be an office of the Trustee or an
affiliate of the Trustee or Registrar) where Securities may be surrendered for
registration of transfer or exchange and where notices and demands to or upon
the Company in respect of the Securities and this Indenture may be served. The
Company shall give prompt written notice to the Trustee of the location, and
any change in the location, of such office or agency. If at any time the
Company shall fail to maintain any such required office or agency or shall fail
to furnish the Trustee with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the Corporate Trust
Office of the Trustee.

17

 

     The Company may also from time to time designate one or more other offices
or agencies where the Securities may be presented or surrendered for any or all
such purposes and may from time to time rescind such designations; provided,
however, that no such designation or rescission shall in any manner relieve the
Company of its obligation to maintain an office or agency in the Borough of
Manhattan, The City of New York for such purposes. The Company shall give
prompt written notice to the Trustee of any such designation or rescission and
of any change in the location of any such other office or agency.

     The Company hereby designates the Corporate Trust Office of the Trustee as
one such office or agency of the Company in accordance with Section 2.03.

Section 4.03 Reports.

     The Company shall deliver to the Trustee within 15 days after it files
them with the Commission copies of the annual reports and of the information,
documents, and other reports (or copies of such portions of any of the
foregoing as the Commission may by rules and regulations prescribe) that the
Company is required to file with the Commission pursuant to Section 13 or 15(d)
of the Exchange Act; provided, however the Company shall not be required to
deliver to the Trustee any materials for which the Company has sought and
received confidential treatment by the Commission. The Company also shall
comply with the other provisions of TIA Section 314(a).

     Delivery of such reports, information and documents to the Trustee is for
informational purposes only and the Trustee’s receipt of such shall not
constitute constructive notice of any information contained therein or
determinable from information contained therein, including the Company’s
compliance with any of its covenants hereunder (as to which the Trustee is
entitled to rely exclusively on Officers’ Certificates).

Section 4.04 Compliance Certificate.

     (a)  The Company or any Guarantors shall deliver to the Trustee,
within 90 days after the end of each fiscal year of the Company, an
Officers’ Certificate stating that a review of the activities of the
Company and its Subsidiaries during the preceding fiscal year has been
made under the supervision of the signing Officers (one of whom shall be
the principal executive officer, principal financial officer or
principal accounting officer of the Company) with a view to determining
whether the Company has kept, observed, performed and fulfilled its
obligations under this Indenture, and further stating, as to each such
Officer signing such certificate, that to the best of his or her
knowledge the Company has kept, observed, performed and fulfilled each
and every covenant contained in this Indenture and is not in default in
the performance or observance of any of the terms, provisions and
conditions of this Indenture (or, if a Default or Event of Default shall
have occurred, describing all such Defaults or Events of Default of
which he or she may have knowledge and what action the Company is taking
or proposes to take with respect thereto) and that to the best of his or
her knowledge no event has occurred and remains in existence by reason
of which payments on account of the principal of or interest, if any, on
the Notes is prohibited or if such event has

18

 

occurred, a description of the event and what action the Company is taking or proposes to take with
respect thereto.

     (b)  The Company shall, so long as any of the Securities are
outstanding, deliver to the Trustee, forthwith upon becoming aware of
any Default or Event of Default, an Officers’ Certificate specifying
such Default or Event of Default and what action the Company is taking
or proposes to take with respect thereto.

Section 4.05 Taxes.

     The Company shall pay prior to delinquency, all material taxes,
assessments, and governmental levies except such as are contested in good faith
by appropriate proceedings or where the failure to effect such payment is not
adverse in any material respect to the Holders of any Securities.

Section 4.06 Stay, Extension and Usury Laws.

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

Section 4.07 Calculation of Original Issue Discount.

     If, as of the end of any fiscal year of the Company, the Company has any
outstanding Original Issue Discount Securities under the Indenture, the Company
shall file with the Trustee promptly following the end of such fiscal year (i)
a written notice specifying the amount of original issue discount (including
daily rates and accrual periods) accrued on such Original Issue Discount
Securities as of the end of such year and (ii) such other specific information
relating to such original issue discount as may then be required under the
Internal Revenue Code of 1986, as amended from time to time.

ARTICLE 5

SUCCESSORS

Section 5.01 When Company May Merge, etc.

     In addition to provisions applicable to a particular series of Securities,
the Company shall not directly or indirectly: (i) consolidate or merge with or
into another Person (whether or not the Company is the surviving Person), or
(ii) sell, assign, transfer, lease, convey or otherwise dispose of all or
substantially all of the properties or assets of the Company and its
Subsidiaries in one or more related transactions to any Person unless:

19

 

		
	 	     (1) either (x) the Company is the surviving Person; or (y) the
Person formed by or surviving any such consolidation or merger (if other
than the Company) or to which such sale, assignment, transfer, lease,
conveyance or other disposition shall have been made is a Person
organized or existing under the laws of the United States, any state
thereof or the District of Columbia;
	 
	 	     (2) the Person formed by or surviving any such consolidation or
merger (if other than the Company) or the Person to which such sale,
assignment, transfer, lease, conveyance or other disposition shall have
been made assumes (by supplemental indenture reasonably satisfactory to
the Trustee) all the obligations of the Company under the Securities and
this Indenture; and
	 
	 	     (3) immediately after the transaction no Default or Event of
Default exists.

The Company shall deliver to the Trustee on or prior to the consummation of the
proposed transaction an Officers’ Certificate to the foregoing effect and an
Opinion of Counsel stating that the proposed transaction and such supplemental
indenture comply with this Indenture.

Section 5.02 Successor Person Substituted.

     Upon any consolidation or merger, or any sale, assignment, transfer,
conveyance or other disposition (other than by lease) of all or substantially
all of the assets of the Company in accordance with Section 5.01 hereof, the
successor Person formed by such consolidation or into which the Company is
merged or to which such sale, assignment, transfer, conveyance or other
disposition is made shall succeed to, and be substituted for (so that from and
after the date of such consolidation, merger, sale, conveyance or other
disposition, the provisions of this Indenture referring to the “Company” shall
refer instead to the successor Person and not to the Company), and may exercise
every right and power of, the Company under this Indenture with the same effect
as if such successor Person had been named as the Company herein; provided,
however, that the predecessor Company shall not be relieved from the obligation
to pay principal of, and interest on, any Securities except in the case of a
sale, assignment, transfer, conveyance or other disposition of all or
substantially all of the Company’s assets that meets the requirements of
Section 5.01 hereof.

ARTICLE 6

DEFAULTS AND REMEDIES

Section 6.01 Events of Default.

     An “Event of Default” occurs with respect to Securities of any particular
series if, unless as otherwise provided in the establishing Board Resolution,
Officers’ Certificate or supplemental indenture hereto:

		
	 	     (1) the Company defaults in the payment of interest on any Security
of that series when the same becomes due and payable and the Default
continues for a period of 30 days;

20

 

		
	 	     (2) the Company defaults in the payment, when due, of the principal
of, or premium, if any, on any Security of that series when the same
becomes due and payable at Maturity, upon redemption (including in
connection with any offer to purchase under the terms of such
Securities) or otherwise;
	 
	 	     (3) an Event of Default, as defined in the Securities of that
series, occurs and is continuing, or the Company fails to comply with
any of its other agreements in the Securities of that series or in this
Indenture with respect to that series and the Default continues for the
period and after the notice specified below;
	 
	 	     (4) the Company pursuant to or within the meaning of any Bankruptcy
Law:

		
	 	     (A) commences a voluntary case;
	 
	 	     (B) consents to the entry of an order for relief against it in an
involuntary case;
	 
	 	     (C) consents to the appointment of a Custodian of it or for all or
substantially all of its property;
	 
	 	     (D) makes a general assignment for the benefit of its creditors; or
	 
	 	     (E) admits in writing its inability generally to pay its debts as
the same become due.

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

		
	 	     (A) is for relief against the Company in an involuntary case;
	 
	 	     (B) appoints a Custodian of the Company or for all or substantially
all of its property; or
	 
	 	     (C) orders
the liquidation of the Company;

 
   and the order or decree remains unstayed and in effect for 60 days.

		
	 	     (6) any other Event of Default provided with respect to Securities
of that series which is specified in a Board Resolution, Officers’
Certificate or supplemental indenture establishing that series of
Securities.

     The term “Bankruptcy Law” means Title 11, U.S. Code or any similar federal
or state law for the relief of debtors. The term “Custodian” means any
receiver, trustee, assignee, liquidator or similar official under any
Bankruptcy Law.

21

 

     A Default under clause (3) above is not an Event of Default with respect
to a particular series of Securities until the Trustee or the Holders of at
least 50% in principal amount of the then outstanding Securities of that series
notify the Company of the Default and the Company does not cure the Default
within 60 days after receipt of the notice. The notice must specify the
Default, demand that it be remedied and state that the notice is a “Notice of
Default.” Such notice shall be given by the Trustee if so requested in writing
by the Holders of 50% of the principal amount of the then outstanding
Securities of that series.

Section 6.02 Acceleration.

     If an Event of Default with respect to Securities of any series (other
than an Event of Default specified in clauses (4) and (5) of Section 6.01)
occurs and is continuing, the Trustee by notice to the Company, or the Holders
of at least 50% in principal amount of the then outstanding Securities of that
series by notice to the Company and the Trustee, may, subject to any prior
notice requirements set forth in any supplemental indenture, declare the unpaid
principal (or, in the case of Original Issue Discount Securities, such lesser
amount as may be provided for in such Securities) of and any accrued interest
on all the Securities of that series to be due and payable on the Securities of
that series. Upon such declaration the principal (or such lesser amount) and
interest shall be due and payable immediately. If an Event of Default
specified in clause (4) or (5) of Section 6.01 occurs, all of such amount shall
become and be immediately due and payable without any declaration or other act
on the part of the Trustee or any Holder. The Holders of a majority in
principal amount of the then outstanding Securities of that series by notice to
the Trustee may rescind an acceleration and its consequences if the rescission
would not conflict with any judgment or decree and if all existing Events of
Default with respect to that series have been cured or waived except nonpayment
of principal (or such lesser amount) or interest that has become due solely
because of the acceleration.

Section 6.03 Other Remedies.

     If an Event of Default with respect to Securities of any series occurs and
is continuing, the Trustee may pursue any available remedy to collect the
payment of principal or interest on the Securities of that series or to enforce
the performance of any provision of the Securities of that series or this
Indenture.

     The Trustee may maintain a proceeding even if it does not possess any of
the Securities or does not produce any of them in the proceeding. A delay or
omission by the Trustee or any Securityholder in exercising any right or remedy
accruing upon an Event of Default shall not impair the right or remedy or
constitute a waiver of or acquiescence in the Event of Default. All remedies
are cumulative to the extent permitted by law.

Section 6.04 Waiver of Past Defaults.

     Subject to Section 6.02, the Holders of not less than a majority in
aggregate principal amount of the then outstanding Securities of any series, by
notice to the Trustee, may on behalf of the Holders of the Securities of that
series, waive an existing Default or Event of Default with respect to that
series and its consequences except a continuing Default or Event of Default in
the payment of the principal (including any mandatory sinking fund or like
payment)

22

 

of, premium, if any, or interest on any Security of that series
(including in connection with an offer to purchase); provided, however, that
the Holders of a majority in aggregate principal amount of the outstanding
Securities of any series may rescind an acceleration and its consequences,
including any related payment default that resulted from such acceleration and
its consequences, including any related payment default that resulted from any
such acceleration. Upon any such waiver, such Default shall cease to exist,
and any Event of Default arising therefrom shall be deemed to have been cured
for every purpose of this Indenture; but no such waiver shall extend to any
subsequent or other Default or impair any right consequent thereon.

Section 6.05 Control by Majority.

     The Holders of a majority in principal amount of the then outstanding
Securities of any series may direct the time, method and place of conducting
any proceeding for exercising any remedy with respect to that series available
to the Trustee or exercising any trust or power conferred on it. However, the
Trustee may refuse to follow any direction that conflicts with law or this
Indenture, that the Trustee determines may be unduly prejudicial to the rights
of other Holders of Securities of that series, or that may involve the Trustee
in personal liability. The Trustee may take any other action which it deems
proper that is not inconsistent with any such direction. Notwithstanding any
provision to the contrary in this Indenture, the Trustee shall not be obligated
to take any action with respect to the provisions of Section 6.02 unless
directed to do so pursuant to this Section 6.05.

Section 6.06 Limitation on Suits.

     A Holder of Securities of any series may not pursue a remedy with respect
to this Indenture or the Securities unless:

		
	 	     (1) the Holder gives to the Trustee written notice of a continuing
Event of Default with respect to that series;
	 
	 	     (2) the Holders of at least 25% in principal amount of the then
outstanding Securities of that series make a written request to the
Trustee to pursue the remedy;
	 
	 	     (3) such Holder or Holders offer, and, if requested, provide to the
Trustee indemnity satisfactory to the Trustee against any loss,
liability or expense;
	 
	 	     (4) the Trustee does not comply with the request within 60 days
after receipt of the request and the offer and, if requested, the
provision of indemnity; and
	 
	 	     (5) during such 60-day period the Holders of a majority in
principal amount of the then outstanding Securities of that series do
not give the Trustee a direction inconsistent with the request.

No Holder of any series of Securities may use this Indenture to prejudice the
rights of another Holder of Securities of that series or to obtain a preference
or priority over another Holder of Securities of that series.

23

 

Section 6.07 Rights of Holders to Receive Payment.

     Notwithstanding any other provision of this Indenture, the right of any
Holder of a Security to receive payment of principal, premium, if any, and
interest on the Security, on or after the respective due dates expressed in the
Security (including in connection with any offer to purchase), or to bring suit
for the enforcement of any such payment on or after such respective dates,
shall not, except as provided in the subordination provisions, if any,
applicable to such Security, be impaired or affected without the consent of the
Holder.

Section 6.08 Collection Suit by Trustee.

     If an Event of Default specified in Section 6.01(1) or (2) hereof occurs
and is continuing with respect to Securities of any series, the Trustee may
recover judgment in its own name and as trustee of an express trust against the
Company for the whole amount of principal (or such portion of the principal as
may be specified as due upon acceleration at that time in the terms of that
series of Securities), premium, if any, and interest, remaining unpaid on the
Securities of that series then outstanding, together with (to the extent
lawful) interest on overdue principal and interest, and such further amount as
shall be sufficient to cover the costs and, to the extent lawful, expenses of
collection, including the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel and any other amounts due the
Trustee under Section 7.07 hereof.

Section 6.09 Trustee May File Proofs of Claim.

     The Trustee may file such proofs of claim and other papers or documents as
may be necessary or advisable in order to have the claims of the Trustee
(including any claim for the reasonable compensation, expenses, disbursements
and advances of the Trustee, its agents and counsel and any other amounts due
to the Trustee under Section 7.07 hereof) and the Securityholders allowed in
any judicial proceedings relative to the Company (or any other obligor on the
Securities), its creditors or its property and shall be entitled to and
empowered to collect, receive and distribute any money or other property
payable or deliverable on any such claims, and any custodian in any such
judicial proceedings is hereby authorized by each Holder to make such payments
to the Trustee and, in the event that the Trustee shall consent to the making
of such payments directly to the Holders, to pay to the Trustee any amount due
to it for the reasonable compensation, expenses, disbursements and advances of
the Trustee, its agent and counsel, and any other amounts due the Trustee under
Section 7.07 hereof. Nothing contained herein 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 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 6.10 Priorities.

     If the Trustee collects any money with respect to Securities of any series
pursuant to this Article, it shall pay out the money in the following order:

	 	 	 
	First:	 	
to the Trustee, its agents and attorneys for amounts
due under Section 7.07 hereof, including payment of all

24

 

	 	 	 
	
	
	
	

	 	 	
compensation, expense and liabilities incurred, and all
advances made, by the Trustee and the costs and expenses
of collection;
	
	
	
	

	Second:	 	
in accordance with the subordination provisions, if
any, of the Securities of such series;
	
	
	
	

	Third:	 	
to Securityholders for amounts due and unpaid on the
Securities of such series for principal, premium, if
any, and interest, ratably, without preference or
priority of any kind, according to the amounts due and
payable on the Securities of such series for principal,
premium, if any, and interest, respectively; and
	
	
	
	

	Fourth:	 	
to the Company or to such party as a court of
competent jurisdiction shall direct.

     The Trustee may fix a record date and payment date for any payment to
Holders of Securities of any series pursuant to this Section. The Trustee
shall notify the Company in writing reasonably in advance of any such record
date and payment date.

Section 6.11 Undertaking for Costs.

     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 a Trustee, a court in its discretion may require the filing by any party
litigant in the suit of an undertaking to pay the costs of the suit, and the
court in its discretion may assess reasonable costs, including reasonable
attorneys’ fees and expenses, against any party litigant in the suit, having
due regard to the merits and good faith of the claims or defense made by the
party litigant. This Section does not apply to a suit by the Trustee, a suit
by a Holder pursuant to Section 6.07 hereof or a suit by Holders of more than
10% in principal amount of the then outstanding Securities of any series.

ARTICLE 7

TRUSTEE

Section 7.01 Duties of Trustee.

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

     (b)  Except during the continuance of an Event of Default known to
the Trustee:

	 	 	 	 	 
	 	 	
(i)
	 	the duties of the
Trustee shall be determined solely by the
express provisions of this Indenture or the
TIA and the Trustee need perform only those
duties

25

 

	 	 	 	 	 
	
	
	
	

	 	 	 	 	that are specifically set forth in
this Indenture or the TIA and no others,
and no implied covenants or obligations
shall be read into this Indenture against
the Trustee; and
	
	
	
	

	 	 	 	 	 
	
	
	
	

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

     (c)  The Trustee may not be relieved from liabilities for its own
negligent action, its own negligent failure to act, or its own willful
misconduct, except that:

	 	 	 	 	 
	 	 	
(i)
	 	this paragraph
does not limit the effect of paragraph (b)
of this Section;
	
	
	
	

	 	 	 	 	 
	
	
	
	

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

	 	 	 	 	 
	
	
	
	

	 	 	
(iii)
	 	the Trustee shall
not be liable with respect to any action it
takes or omits to take in good faith in
accordance with a direction received by it
pursuant to Section 6.05 hereof.

     (d)  Whether or not therein expressly so provided, every provision
of this Indenture that in any way relates to the Trustee is subject to
paragraphs (a), (b) and (c) of this Section.

     (e)  No provision of this Indenture shall require the Trustee to
expend or risk its own funds or incur any liability. The Trustee may
refuse to perform any duty or exercise any right or power, including
without limitation, the provisions of Section 6.05 hereof, unless it
receives security and indemnity satisfactory to it against any loss,
liability or expense.

26

 

     (f)  The Trustee shall not be liable for interest on any money
received by it except as the Trustee may agree in writing with the
Company. Absent written instruction from the Company, the Trustee shall
not be required to invest any such money. Money held in trust by the
Trustee need not be segregated from other funds except to the extent
required by law.

Section 7.02 Rights of Trustee.

     Subject to TIA Section 315(a) through (d):

     (a)  The Trustee may conclusively rely on any document believed by
it to be genuine and to have been signed or presented by the proper
person. The Trustee shall not be bound to make any investigation into
the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order,
bond, debenture, note, other evidence of indebtedness or other paper or
document, but the Trustee, in its discretion, may make such further
inquiry or investigation into such facts or matters as it may see fit.

     (b)  Before the Trustee acts or refrains from acting, it may require
an Officers’ Certificate or an Opinion of Counsel, or both. The Trustee
shall not be liable for any action it takes or omits to take in good
faith in reliance on such Officers’ Certificate or Opinion of Counsel.

     (c)  The Trustee may act through agents and shall not be responsible
for the misconduct or negligence of any agent appointed with due care.

     (d)  The Trustee shall not be liable for any action it takes or
omits to take in good faith which it believes to be authorized or within
its rights or powers under the Indenture, unless the Trustee’s conduct
constitutes negligence.

     (e)  Unless otherwise specifically provided in this Indenture, any
demand, request, direction or notice from the Company shall be
sufficient if signed by an Officer of the Company.

     (f)  The Trustee may consult with counsel of its selection and may
rely upon the advice of such counsel or any Opinion of Counsel.

     (g)  The Trustee shall not be deemed to have notice of any Default
or Event of Default unless a Trust Officer of the Trustee has actual
knowledge thereof or unless written notice of any event that is in fact
such a default is received by the Trustee at the Corporate Trust Office
of the Trustee, and such notice references the Securities generally or
the Securities of a particular series, as the case may be, and this
Indenture.

     (h)  The permissive rights of the Trustee to do things enumerated in this
Indenture shall not be construed as duties.

Section 7.03 Individual Rights of Trustee.

27

 

     The Trustee in its individual or any other capacity may become the owner
or pledgee of Securities and may otherwise deal with the Company or an
Affiliate with the same rights it would have if it were not Trustee. Any Agent
may do the same with like rights. However, the Trustee is subject to TIA
Sections 310(b) and 311.

Section 7.04 Trustee’s Disclaimer.

     The Trustee makes no representation as to the validity or adequacy of this
Indenture or the Securities, it shall not be accountable for the Company’s use
of the proceeds from the Securities, and it shall not be responsible for any
statement in the Securities other than its certificate of authentication.

Section 7.05 Notice of Defaults.

     If a Default or Event of Default with respect to the Securities of any
series occurs and is continuing and if it is known to the Trustee, the Trustee
shall mail to all Holders of Securities of that series a notice of the Default
or Event of Default within 90 days after it occurs. Except in the case of a
Default or Event of Default in payment on any such Security, the Trustee may
withhold the notice if and so long as a committee of its Trust Officers in good
faith determines that withholding the notice is in the interests of such
Securityholders.

Section 7.06 Reports by Trustee to Holders.

     Within 60 days after May 15 in each year, the Trustee with respect to any
series of Securities shall mail to Holders of Securities of that series as
provided in TIA Section 313(c) a brief report dated as of such May 15 that
complies with TIA Section 313(a) (if such report is required by TIA Section
313(a)). The Trustee shall also comply with TIA Section 313(b)(2).

     A copy of each report at the time of its mailing to Securityholders shall
be mailed to the Company and filed with the Commission and each stock exchange
on which any of the Securities are listed, as required by TIA Section 313(d).
The Company shall notify the Trustee when the Securities are listed on any
stock exchange, and of any delisting thereof.

Section 7.07 Compensation and Indemnity.

     The Company shall pay to the Trustee from time to time such compensation
as shall be agreed upon in writing for its services hereunder. The Company
shall reimburse the Trustee upon written request for all reasonable
out-of-pocket expenses incurred by it. Such expenses shall include the
reasonable compensation and out-of-pocket expenses of the Trustee’s agents and
counsel.

     The Company shall indemnify each of the Trustee or any predecessor Trustee
for any loss, liability, damage, claims or expenses, including taxes (other
than taxes based upon, measured by or determined by the income of the Trustee)
incurred by it, without negligence or bad faith on its part, in connection with
the acceptance or administration of this Indenture and its duties hereunder.
The Trustee shall notify the Company promptly of any claim for which it may
seek indemnity. The Company shall defend the claim and the Trustee shall
cooperate in the defense. The Trustee may have separate counsel and the
Company shall pay the reasonable fees

28

 

and expenses of such counsel. The Company need not pay for any settlement made without its consent.

     To secure the Company’s payment obligations in this Section, the Trustee
shall have a lien prior to the Securities on all money or property held or
collected by the Trustee in its capacity as Trustee, except money or property
held in trust to pay principal and interest on particular Securities. Such
lien will survive the satisfaction and discharge of this Indenture.

     If the Trustee incurs expenses or renders services after an Event of
Default specified in Section 6.01(4) or (5) hereof occurs, the expenses and the
compensation for the services will be intended to constitute expenses of
administration under any applicable Bankruptcy Law.

     This Section 7.07 shall survive the resignation or removal of the Trustee
and the termination of this Indenture.

Section 7.08 Replacement of Trustee.

     A resignation or removal of the Trustee with respect to one or more or all
series of Securities and appointment of a successor Trustee shall become
effective only upon the successor Trustee’s acceptance of appointment as
provided in this Section.

     The Trustee may resign with respect to one or more or all series of
Securities by so notifying the Company in writing. The Holders of a majority
in principal amount of the then outstanding Securities of any series may remove
the Trustee as to that series by so notifying the Trustee in writing and may
appoint a successor Trustee with the Company’s consent. The Company may remove
the Trustee with respect to one or more or all series of Securities if:

          (1) the Trustee fails to comply with Section 7.10 hereof;

          (2) the Trustee is adjudged a bankrupt or an insolvent;

          (3) a receiver or other public officer takes charge of the Trustee
or its property; or

          (4) the Trustee becomes incapable of acting.

     If, as to any series of Securities, the Trustee resigns or is removed or
if a vacancy exists in the office of Trustee for any reason, the Company shall
promptly appoint a successor Trustee for that series. Within one year after
the successor Trustee with respect to any series takes office, the Holders of a
majority in principal amount of the then outstanding Securities of that series
may appoint a successor Trustee to replace the successor Trustee appointed by
the Company. If a successor Trustee as to a particular series does not take
office within 60 days after the retiring Trustee resigns or is removed, the
retiring Trustee, the Company or the Holders of at least 10% in principal
amount of the then outstanding Securities of that series may petition any court
of competent jurisdiction for the appointment of a successor Trustee.

29

 

     If the Trustee fails to comply with Section 7.10 hereof with respect to
any series, any Holder of Securities of that series who satisfies the
requirements of TIA Section 310(b) may petition any court of competent
jurisdiction for the removal of the Trustee and the appointment of a successor
Trustee for that series.

     A successor Trustee as to any series of Securities shall deliver a written
acceptance of its appointment to the retiring Trustee and to the Company.
Immediately after that, the retiring Trustee shall promptly transfer all
property held by it as Trustee to the successor Trustee (subject to the lien
provided for in Section 7.07 hereof), the resignation or removal of the
retiring Trustee shall become effective, and the successor Trustee shall have
all the rights, powers and duties of the Trustee under this Indenture as to
that series. The successor Trustee shall mail a notice of its succession to
the Holders of Securities of that series.

     Notwithstanding replacement of the Trustee pursuant to this Section 7.08,
the Company’s obligations under Section 7.07 hereof shall continue for the
benefit of the retiring trustee.

     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 that (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 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 or desirable to provide for or facilitate the
administration of the trusts hereunder by more than one Trustee; provided,
however, that nothing herein or in such supplemental Indenture shall constitute
such Trustee co-trustees of the same trust and that each such Trustee shall be
trustee of a trust hereunder separate and apart from any trust hereunder
administered by any other such Trustee.

     Upon the execution and delivery of such supplemental Indenture the
resignation or removal of the retiring Trustee shall become effective to the
extent provided therein and each such successor Trustee, without any further
act, deed or conveyance, shall become vested with all the rights, powers,
trusts and duties of the retiring Trustee with respect to the Securities of
that or those series to which the appointment of such successor Trustee
relates.

Section 7.09 Successor Trustee by Merger, etc.

     If the Trustee as to any series of Securities consolidates, merges or
converts into, or transfers all or substantially all of its corporate trust
business to, another corporation, the successor corporation without any further
act shall be the successor Trustee as to that series.

Section 7.10 Eligibility; Disqualification.

30

 

     Each series of Securities shall always have a Trustee who satisfies the
requirements of TIA Section 310(a)(1), (2) and (5). The Trustee as to any
series of Securities shall always have a combined capital and surplus of at
least $25,000,000 as set forth in its most recent published annual report of
condition. The Trustee is subject to TIA Section 310(b).

Section 7.11 Preferential Collection of Claims Against Company.

     The Trustee is subject to TIA Section 311(a), excluding any creditor
relationship listed in TIA Section 311(b). A Trustee who has resigned or been
removed shall be subject to TIA Section 311(a) to the extent indicated therein.

ARTICLE 8

SATISFACTION AND DISCHARGE; DEFEASANCE

Section 8.01 Satisfaction and Discharge.

     This Indenture will be discharged and will cease to be of further effect
with respect to any series of Securities issued hereunder, when:

	(1)	 	either:

	 	(a)	 	all Securities of such series that have been authenticated
(except lost, stolen or destroyed Securities that have been replaced
or paid and Notes for whose payment money has theretofore been
deposited in trust and thereafter repaid to the Company) have been
delivered to the Trustee for cancellation; or
	 
	 	(b)	 	all Securities of such series that have not been delivered to
the Trustee for cancellation have become due and payable by reason
of the making of a notice of redemption or otherwise or will become
due and payable within one year and the Company or any Guarantor has
irrevocably deposited or caused to be deposited with the Trustee as
trust funds in trust solely for the benefit of the Holders, cash in
U.S. dollars, non-callable U.S. Government Obligations, or a
combination thereof, in such amounts as will be sufficient without
consideration of any reinvestment of interest, to pay and discharge
the entire indebtedness on the Notes not delivered to the Trustee
for cancellation for principal, premium and accrued interest to the
date of Maturity or redemption:

	(2)	 	no Default or Event of Default with respect to such series of Securities
shall have occurred and be continuing on the date of such deposit or shall
occur as a result of such deposit and such deposit will not result in a
breach or violation of, or constitute a default under, any other material
instrument to which the Company or any Guarantor is a party to or by which
the Company or any Guarantor is bound;
	 
	(3)	 	the Company or any Guarantor has paid or caused to be paid all sums
payable by it under this Indenture with respect to such series of
Securities; and

31

 

	(4)	 	the Company has delivered irrevocable instructions to the Trustee under
this Indenture to apply the deposited money toward the payment of the
Securities of such series at Maturity or the redemption date, as the case
may be.

In addition, the Company must deliver an Officers’ Certificate and an Opinion
of Counsel to the Trustee stating that all conditions precedent to satisfaction
and discharge have been satisfied.

     Notwithstanding, the satisfaction and discharge of this Indenture with
respect to a series of Securities, if money shall have been deposited with the
Trustee pursuant to subclause (b) of clause (1) of this Section, the provisions
of Section 8.06 shall survive.

Section 8.02 Option to Effect Legal Defeasance or Covenant Defeasance.

     Unless Section 8.03 or 8.04 is otherwise specified to be inapplicable to
Securities of a series, the Company may, at the option of its Board of
Directors evidenced by a resolution set forth in an Officers’ Certificate, at
any time, elect to have either Section 8.03 or 8.04 hereof be applied to all
outstanding Securities of any such series upon compliance with the conditions
set forth below in this Article Eight.

Section 8.03 Legal Defeasance and Discharge.

     Upon the Company’s exercise under Section 8.02 hereof of the option
applicable to this Section 8.03, the Company and any Guarantor shall, subject
to the satisfaction of the conditions set forth in Section 8.05 hereof, be
deemed to have been discharged from their respective obligations with respect
to all outstanding Securities of any series on the date the conditions set
forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose,
Legal Defeasance means that the Company and any Guarantor shall be deemed to
have paid and discharged the entire Indebtedness represented by the outstanding
Securities of a series, which shall thereafter be deemed to be “outstanding”
only for the purposes of Section 8.06 hereof and the other Sections of this
Indenture referred to in (a) and (b) below, and to have satisfied all its other
obligations under such Securities and this Indenture (and the Trustee, on
demand of and at the expense of the Company, shall execute proper instruments
acknowledging the same), except for the following provisions which shall
survive until otherwise terminated or discharged hereunder: (a) the rights of
Holders of outstanding Securities to receive solely from the trust fund
described in Section 8.05 hereof, and as more fully set forth in such Section,
payments in respect of the principal of, premium and interest on such
Securities when such payments are due, (b) the Company’s obligations with
respect to such Notes under Article 2 and Section 4.02 hereof, (c) the rights,
powers, trusts, duties and immunities of the Trustee hereunder and the
Company’s or any Guarantors’ obligations in connection therewith and (d) this
Article Eight. Subject to compliance with this Article Eight, the Company may
exercise its option under this Section 8.03 notwithstanding the prior exercise
of its option under Section 8.04 hereof.

Section 8.04 Covenant Defeasance.

     Upon the Company’s exercise under Section 8.02 hereof of the option
applicable to this Section 8.04, the Company or any Guarantors shall, subject
to the satisfaction of the conditions set forth in Section 8.05 hereof, be
released from their respective obligations under

32

 

the covenants contained in Sections 4.03, 4.04, 4.05, 4.06, and 4.07, and Section 5.01 hereof with respect
to the outstanding Securities of any series on and after the date the
conditions set forth in Section 8.05 are satisfied (hereinafter, “Covenant
Defeasance”), and the Securities of such series shall thereafter be deemed not
“outstanding” for the purposes of any direction, waiver, consent or declaration
or act of Holders (and the consequences of any thereof) in connection with such
covenants, but shall continue to be deemed “outstanding” for all other purposes
hereunder (it being understood that such Securities shall not be deemed
outstanding for accounting purposes). For this purpose, Covenant Defeasance
means that, with respect to the outstanding Securities of any series, the
Company or any Guarantors may omit to comply with and shall have no liability
in respect of any term, condition or limitation set forth in any such covenant,
whether directly or indirectly, by reason of any reference elsewhere herein to
any such covenant or by reason of any reference in any such covenant to any
other provision herein or in any other document and such omission to comply
shall not constitute a Default or an Event of Default under Section 6.01
hereof, but, except as specified above, the remainder of this Indenture and
such Securities shall be unaffected thereby. In addition, upon the Company’s
exercise under Section 8.02 hereof of the option applicable to this Section
8.04 hereof, subject to the satisfaction of the conditions set forth in Section
8.05 hereof, Sections 6.01(3) through 6.01(6) hereof shall not constitute
Events of Default.

Section 8.05 Conditions to Legal or Covenant Defeasance.

     The following shall be the conditions to the application of either Section
8.03 or 8.04 hereof to the outstanding Securities of any series. In order to
exercise either Legal Defeasance or Covenant Defeasance:

     (a)  the Company must irrevocably deposit with the Trustee, in trust, for
the benefit of the Holders, cash in United States dollars, non-callable U.S.
Government Obligations, or a combination thereof, in such amounts as will be
sufficient, in the opinion of a nationally recognized firm of independent
public accountants, to pay the principal of, premium and interest on the
outstanding Securities on the stated date for payment thereof or on the
applicable redemption date, as the case may be;

     (b)  in the case of an election under Section 8.03 hereof, the Company
shall have delivered to the Trustee an Opinion of Counsel in the United States
reasonably acceptable to the Trustee confirming that (A) the Company has
received from, or there has been published by, the Internal Revenue Service a
ruling or (B) since the date hereof, there has been a change in the applicable
federal income tax law, in either case to the effect that, and based thereon
such Opinion of Counsel shall confirm that, the Holders of the outstanding
Securities will not recognize income, gain or loss for federal income tax
purposes as a result of such Legal Defeasance and will be subject to federal
income tax on the same amounts, in the same manner and at the same times as
would have been the case if such Legal Defeasance had not occurred;

     (c)  in the case of an election under Section 8.04 hereof, the Company
shall have delivered to the Trustee an Opinion of Counsel in the United States
reasonably acceptable to the Trustee confirming that the Holders of the
outstanding Securities will not recognize income, gain or loss for federal
income tax purposes as a result of such Covenant Defeasance and will be

33

 

subject to federal income tax on the same amounts, in the same manner and at the same
times as would have been the case if such Covenant Defeasance had not occurred;

     (d)  no Default or Event of Default shall have occurred and be continuing
on the date of such deposit (other than a Default or Event of Default resulting
from the incurrence of Indebtedness all or a portion of the proceeds of which
will be used to defease the Securities pursuant to this Article Eight
concurrently with such incurrence) or insofar as Sections 6.01(4) or 6.01(5)
hereof is concerned, at any time in the period ending on the 91st day after the
date of deposit;

     (e)  such Legal Defeasance or Covenant Defeasance shall not result in a
breach or violation of, or constitute a default under, any material agreement
or instrument (other than this Indenture) to which the Company or any of its
Subsidiaries is a party or by which the Company or any of its Subsidiaries is
bound;

     (f)  the Company shall have delivered to the Trustee an Officers’
Certificate stating that the deposit was not made by the Company with the
intent of preferring the Holders over any other creditors of the Company or
with the intent of defeating, hindering, delaying or defrauding any other
creditors of the Company; and

     (g)  the Company shall have delivered to the Trustee an Officers’
Certificate and an Opinion of Counsel, each stating that all conditions
precedent provided for or relating to the Legal Defeasance or the Covenant
Defeasance have been complied with.

Section 8.06 Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions.

     Subject to Section 8.07 hereof, all money and non-callable U.S. Government
Obligations (including the proceeds thereof) deposited with the Trustee (or
other qualifying trustee, collectively for purposes of this Section 8.06, the
“Trustee”) pursuant to Section 8.01 or Section 8.05 hereof in respect of the
outstanding Securities shall be held in trust and applied by the Trustee, in
accordance with the provisions of such Securities and this Indenture, to the
payment, either directly or through any Paying Agent (including the Company
acting as Paying Agent) as the Trustee may determine, to the Holders of such
Securities of all sums due and to become due thereon in respect of principal,
premium, if any, and interest, but such money need not be segregated from other
funds except to the extent required by law.

     The Company shall pay and indemnify the Trustee against any tax, fee or
other charge imposed on or assessed against the cash or non-callable U.S.
Government Obligations deposited pursuant to Section 8.05 hereof or the
principal and interest received in respect thereof other than any such tax, fee
or other charge which by law is for the account of the Holders of the
outstanding Securities.

     Anything in this Article Eight to the contrary notwithstanding, the
Trustee shall deliver or pay to the Company from time to time upon the request
of the Company any money or non-callable U.S. Government Obligations held by it
as provided in Section 8.05 hereof which, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee (which may be the opinion
delivered under

34

 

Section 8.05(a) hereof), are in excess of the amount thereof
that would then be required to be deposited to effect an equivalent Legal
Defeasance or Covenant Defeasance.

Section 8.07 Repayment to Company.

     Any money deposited with the Trustee or any Paying Agent, or then held by
the Company, in trust for the payment of the principal of, premium, if any, or
interest on any Securities and remaining unclaimed for two years after such
principal, and premium, if any, or interest has become due and payable shall be
paid to the Company on its request or (if then held by the Company) shall be
discharged from such trust; and the Holder of such Securities shall thereafter
look only to the Company for payment thereof, and all liability of the Trustee
or such Paying Agent with respect to such trust money, and all liability of the
Company as trustee thereof, shall thereupon cease; provided, however, that the
Trustee or such Paying Agent, before being required to make any such repayment,
may at the expense of the Company cause to be published once, in the New York
Times and The Wall Street Journal (national edition), notice that such money
remains unclaimed and that, after a date specified therein, which shall not be
less than 30 days from the date of such notification or publication, any
unclaimed balance of such money then remaining will be repaid to the Company.

Section 8.08 Reinstatement.

     If the Trustee or Paying Agent is unable to apply any United States
dollars or non-callable U.S. Government Securities in accordance with Section
8.03 or 8.04 hereof, as the case may be, by reason of any order or judgment of
any court or governmental authority enjoining, restraining or otherwise
prohibiting such application, then the Company’s obligations under this
Indenture and the Securities shall be revived and reinstated as though no
deposit had occurred pursuant to Section 8.03 or 8.04 hereof until such time as
the Trustee or Paying Agent is permitted to apply all such money in accordance
with Section 8.03 or 8.04 hereof, as the case may be; provided, however, that,
if the Company makes any payment of principal of, premium, if any, or interest
on any Securities following the reinstatement of its obligations, the Company
shall be subrogated to the rights of the Holders of such Securities to receive
such payment from the money held by the Trustee or Paying Agent.

ARTICLE 9

SUPPLEMENTS, AMENDMENTS AND WAIVERS

Section 9.01 Without Consent of Holders.

     The Company and the Trustee as to any series of Securities may supplement
or amend this Indenture or the Securities without notice to or the consent of
any Securityholder:

          (1) to cure any ambiguity, defect or inconsistency;

          (2) to comply with Article 5;

          (3) to comply with any requirements of the Commission in connection
with the qualification of this Indenture under the TIA;

35

 

          (4) to provide for uncertificated Securities in addition to or in
place of certificated Securities;

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

          (6) to make any change that does not adversely affect in any
material respect the interests of the Securityholders of any series; or

          (7) to establish additional series of Securities as permitted by
Section 2.01 hereof.

Section 9.02 With Consent of Holders.

     Subject to Section 6.07, the Company and the Trustee as to any series of
Securities may amend this Indenture or the Securities of that series with the
written consent of the Holders of a majority in principal amount of the then
outstanding Securities of each series affected by the amendment, with each such
series voting as a separate class. The Holders of a majority in principal
amount of the then outstanding Securities of any series may also waive
compliance in a particular instance by the Company with any provision of this
Indenture with respect to that series or the Securities of that series;
provided, however, that without the consent of each Securityholder affected, an
amendment or waiver may not:

          (1) reduce the percentage of the principal amount of Securities
whose Holders must consent to an amendment or waiver;

          (2) reduce the amount of, or postpone the date fixed for, the
payment of any sinking fund or analogous provision;

          (3) reduce the rate of, or change the time for payment of interest
on, any Security;

          (4) reduce the principal of or change the fixed Maturity of any
Security or waive a redemption payment or alter the redemption
provisions with respect thereto;

          (5) make any Security payable in money other than that stated in
the Security (including defaulted interest);

          (6) reduce the principal amount of Original Issue Discount
Securities payable upon acceleration of the Maturity thereof;

36

 

          (7) make any change in Section 6.04, 6.07 or this Section 9.02; or

          (8) waive a default in the payment of the principal of, or interest
on, any Security, except to the extent otherwise provided for in Section
6.02 hereof.

     An amendment or waiver under this Section that waives, 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 the Holders of Securities of such
series with respect to such covenant or other provision, shall be deemed not to
affect the rights under this Indenture of the Holders of Securities of any
other series.

     It shall not be necessary for the consent of the Holders under this
Section to approve the particular form of any proposed amendment or waiver, but
it shall be sufficient if such consent approves the substance thereof.

     The Company shall mail supplemental indentures to Holders upon request.
Any failure of the Company to mail such notice, or any defect therein, shall
not, however, in any way impair or affect the validity of any such supplemental
indenture or waiver.

Section 9.03 Revocation and Effect of Consents.

     Until an amendment or waiver becomes effective, a consent to it by a
Holder of a Security is a continuing consent by the Holder and every subsequent
Holder of a Security or portion of a Security that evidences the same debt as
the consenting Holder’s Security, even if notation of the consent is not made
on any Security; provided, however, any such Holder or subsequent Holder may
revoke the consent as to his Security or portion of a Security if the Trustee
receives the written notice of revocation before the date on which the
amendment, supplement or waiver becomes effective. An amendment, supplement or
waiver shall become effective in accordance with its terms and thereafter shall
bind every Holder of Securities of that series.

Section 9.04 Notation on or Exchange of Securities.

     If an amendment, supplement or waiver changes the terms of a Security:
(a) the Trustee may require the Holder of the Security to deliver it to the
Trustee, the Trustee may, at the written direction of the Company and at the
Company’s expense, place an appropriate notation on the Security about the
changed terms and return it to the Holder and the Trustee may place an
appropriate notation on any Security thereafter authenticated; or (b) if the
Company or the Trustee so determines, the Company in exchange for the Security
shall issue and the Trustee shall authenticate a new Security that reflects the
changed terms.

     Failure to make the appropriate notation or issue a new Security shall not
affect the validity and effect of such amendment, supplement or waiver.

37

 

Section 9.05 Trustee to Sign Amendments, etc.

     Subject to the preceding sentence, the Trustee shall sign any amendment or
supplemental Indenture if the same does not adversely affect the rights,
duties, liabilities or immunities of the Trustee. The Trustee may, but shall
not be obligated to, execute any such amendment, supplement or waiver that
affects the Trustee’s own rights, duties, liabilities or immunities under this
Indenture or otherwise. The Company may not sign an amendment or supplemental
Indenture until the Board of Directors approves it. In executing any amended
or supplemental Indenture, the Trustee shall be entitled to receive and
(subject to Section 7.01) shall be fully protected in relying upon, in addition
to the documents required by Section 11.04 hereof, an Officer’s Certificate and
an Opinion of Counsel stating that the execution of such amended or
supplemental Indenture is authorized or permitted by this Indenture.

ARTICLE 10

GUARANTEES

Section 10.01 Guarantee.

     Any series of Securities may be guaranteed by one or more of the
Guarantors. The terms and the form of any such Guarantee will be established
in the manner contemplated by Section 2.01 for that particular series of
Securities.

ARTICLE 11

MISCELLANEOUS

Section 11.01 Indenture Subject to Trust Indenture Act.

     This Indenture is subject to the provisions of the TIA that are required
to be part of this Indenture, and shall, to the extent applicable, be governed
by such provisions.

Section 11.02 Notices.

     Any notice or communication is duly given if in writing and delivered in
person or sent by first-class mail (registered or certified, return receipt
requested), telecopier or overnight air courier guaranteeing next-day delivery,
addressed as follows:

     If to the Company and/or any Guarantor:

	 	United Defense Industries, Inc.

1525 Wilson Boulevard, Suite 700

Arlington, Virginia 22209

Attention: David V. Kolovat, Esq.

Telephone: (703) 312-6100

Facsimile: (703) 312-6111

     with a copy to:

38

 

	 	Latham & Watkins LLP

555 Eleventh Street, N.W., Suite 1000

Washington, D.C. 20004

Attention: David M. McPherson, Esq.

Telephone: (202) 637-2200

Facsimile: (202) 637-2201

     If to the Trustee:

	 	[     ]

Attention:

Telephone:

Facsimile:

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

     All notices and communications (other than those sent to Holders) shall be
deemed to have been duly given: at the time delivered by hand, if personally
delivered; five Business Days after being deposited in the mail, postage
prepaid, if mailed; when receipt acknowledged, if telecopied; and the next
business day after timely delivery to the courier, if sent by overnight air
courier guaranteeing next-day delivery.

     Any notice or communication to a Securityholder shall be mailed by
first-class mail, certified or registered, return receipt requested, or by
overnight air courier guaranteeing next day delivery to his address shown on
the register kept by the Registrar. Failure to mail a notice or communication
to a Security holder or any defect in it shall not affect its sufficiency with
respect to other Securityholders. If the Company mails a notice or
communication to Securityholders, it shall mail a copy to the Trustee at the
same time. Any notice or communication shall also be mailed to any Person
described in TIA §313(c), to the extent required by the TIA.

     If a notice or communication is mailed in the manner provided above within
the time prescribed, it is duly given, whether or not the addressee receives
it.

Section 11.03 Communication By Holders With Other Holders.

     Holders may communicate pursuant to TIA Section 312(b) with other Holders
with respect to their rights under this Indenture or the Securities. The
Company, the Trustee, the Registrar and anyone else shall have the protection
of TIA Section 312(c).

39

 

Section 11.04 Certificate and Opinion as to Conditions Precedent.

     Upon any request or application by the Company to the Trustee to take any
action under this Indenture, the Company shall furnish to the Trustee:

     (a)  an Officers’ Certificate, in form and substance reasonably
satisfactory to the Trustee (which shall include the statements set
forth in Section 11.05 hereof) stating that, in the opinion of the
signers, all conditions precedent and covenants, if any, provided for in
this Indenture relating to the proposed action have been complied with;
and

     (b)  an Opinion of Counsel, in form and substance reasonably
satisfactory to the Trustee (which shall include the statements set
forth in Section 11.05 hereof) stating that, in the opinion of such
counsel, such action is authorized or permitted by this Indenture and
that all such conditions precedent have been complied with.

Section 11.05 Statements Required in Certificate or Opinion.

     Each certificate or opinion with respect to compliance with a condition or
covenant provided for in this Indenture (other than the certificate provided
pursuant to TIA §314(a)(4) 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; provided,
however, that with respect to matters of fact an Opinion of Counsel may
rely on an officer’s certificate or certificates of public officials.

Section 11.06 Rules by Trustee and Agents.

     The Trustee as to Securities of any series may make reasonable rules for
action by or at a meeting of Holders of Securities of that series. The
Registrar and any Paying Agent or Authenticating Agent may make reasonable
rules and set reasonable requirements for their functions.

Section 11.07 Legal Holidays.

40

 

     A “Legal Holiday” is a Saturday, a Sunday or a day on which banking
institutions in the City of New York, New York or at a place of payment are
authorized by law, regulation or executive order to remain closed. If a
payment date is a Legal Holiday at a place of payment, payment may be made at
that place on the next succeeding day that is not a Legal Holiday, and no
interest shall accrue for the intervening period.

Section 11.08 No Recourse Against Others.

     No past, present or future director, officer, employee, manager,
securityholder or incorporator, as such, of the Company or any successor Person
shall have any liability for any obligations of the Company or any Guarantor
under any series of Securities, any guarantees thereof, or the Indenture or for
any claim based on, in respect of, or by reason of such obligations or their
creation. Each Securityholder by accepting a Security waives and releases all
such liability. The waiver and release are part of the consideration of
issuance of the Securities.

Section 11.09 Counterparts.

     This Indenture may be executed by the parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original
and all of which taken together shall constitute one and the same agreement.

Section 11.10 Governing Law.

     The internal laws of the State of New York shall govern and be used to
construe this Indenture and the Securities (including any guarantees thereof),
without giving effect to the applicable principles of conflicts of laws to the
extent that the application of the laws of another jurisdiction would be
required thereby.

Section 11.11 Submission to Jurisdiction; Service of Process; Waiver of Jury Trial

     Each party hereto hereby submits to the nonexclusive jurisdiction of the
United States District Court for the Southern District of New York and of any
New York State Court sitting in New York City for purposes of all legal
proceedings arising out of or relating to this Indenture, the Securities
(including any guarantee thereof) or the transactions contemplated hereby and
thereby. Each party hereto irrevocably waives, to the fullest extent permitted
by law, any objection which it may now or hereafter have to the laying of the
venue of any such proceeding brought in such a court and any claim that any
such proceeding brought in such a court has been brought in an inconvenient
forum. Process in any such suit, action or proceeding may be served on any
party anywhere in the world, whether within or without the State of New York.
Without limiting the foregoing, the parties agree that service of process upon
such party at the address referred to in Section 11.02, together with written
notice of such service to such party, shall be deemed effective service of
process upon such party. Each of the parties hereto irrevocably waives any and
all rights to trial by jury in any legal proceeding arising out of or relating
to this Indenture, the Securities (including any guarantee thereof) or the
transactions contemplated hereby and thereby.

Section 11.12 Severability.

41

 

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

Section 11.13 Effect of Headings, Table of Contents, etc.

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

Section 11.14 Successors and Assigns.

     All covenants and agreements of the Company in this Indenture and the
Securities shall bind its successors and assigns. All agreements of the
Trustee in this Indenture shall bind its successor. All agreements of any
Guarantor in this Indenture shall bind its successors, except as otherwise
provided by the terms hereof.

Section 11.15 No Interpretation of Other Agreements.

     This Indenture may not be used to interpret another indenture, loan or
debt agreement of the Company or any Subsidiary or of any Person. Any such
indenture, loan or debt agreement may not be used to interpret this Indenture.

[Signature Page Follows]

42

 

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

	 	 	 
	 	 	
Issuer:
	 
	 	 	
United Defense Industries, Inc.
	 
	 	 	
By:  

Name:  Francis Raborn

Title:    Vice President and Chief

Financial Officer

 

Guarantors:

 

 

Trustee:

 

 

Schedule 1exv10w01

 

EXHIBIT 10.01

AMENDMENT NO. 1

TO THE MARTEK BIOSCIENCES CORPORATION 2002 STOCK INCENTIVE PLAN

     The Martek Biosciences Corporation 2002 Stock Incentive Plan (the “Plan”)
is hereby amended as set forth below, effective as of the date of approval of
this Amendment by the Shareholders of Martek Biosciences Corporation. (the
“Corporation”) in accordance with the Shareholder Approval Policy of the Nasdaq
Stock Market:

     Section 4 is hereby amended and restated in its entirety as follows:

		
	 	        Subject to adjustment as provided in Section 15 hereof, the number
of shares of Stock available for issuance under the Plan shall be
1,982,000. Stock issued or to be issued under the Plan shall be
authorized but unissued shares or issued shares that have been reacquired
by the Company. If any shares covered by an Award are not purchased or
are forfeited, or if an Award otherwise terminates without delivery of
any Stock subject thereto, then the number of shares of Stock counted
against the aggregate number of shares available under the Plan with
respect to such Award shall, to the extent of any such forfeiture or
termination, again be available for making Awards under the Plan. If the
Option Price of any Option granted under the Plan, or if pursuant to
Section 16.3 the withholding obligation of any Grantee with respect to an
Option, is satisfied by tendering shares of Stock to the Company (by
either actual delivery or by attestation) or by withholding shares of
Stock, only the number of shares of Stock issued net of the shares of
Stock tendered or withheld shall be deemed delivered for purposes of
determining the maximum number of shares of Stock available for delivery
under the Plan.

This Amendment No. 1 was duly approved by the Board of Directors of the
Corporation on January 22, 2003 and approved by the Shareholders of the Company
on March 20, 2003.

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